BusinessMirror February 02, 2022

Consumption, poll boost to hike growth

By Cai U. Ordinario @caiordinario

T THE WORLD » A7

Biden issues infrastructure ‘roadmap’ to help spend $1T

HE expected surge in consumption and election spending in the first semester of the year would likely increase the country’s GDP to around 6 to 7 percent, according to a local think tank.

In its latest Market Call report, First Metro Investment Corporation and University of Asia and the Pacific Capital Markets Research said the growth in consumption in the fourth quarter of last year would likely spill over to the first half of 2022.

This will be supported by election spending, which is expected to accelerate in the run up to the May 2022 Presidential elections, and with

government spending for infrastructure ahead of the election ban to be imposed by the Commission on Elections in March.

“We expect an acceleration in GDP growth in 2022 by at least 1 percentage point to 6 percent to 7 percent.

The outsized gain in employment may correct in December, but the momentum spawned by Christmas outlays and election spending should carry the torch at least for H1-2022 [first half 2022],” the think tank said.

“NG [national government] expenditures in 2022 should outperform, as infrastructure spending ratchets up.”

The think tank added its outlook remains positive despite the recent increase in crude oil prices. Inflation, it said, is expected to average

3.7 percent this year amid government’s moves to keep food prices low.

However, due to the interest hike in the United States as well as the country’s record trade deficits, the peso will likely stay above the P51 to the dollar level for the rest of 2022.

Earlier, the Philippines recorded a trade deficit of $43.34 billion in 2021. This is the highest since 2018 when the deficit reached $43.53 billion.

In December 2021, this deficit reached $5.21 billion, the highest since the country recorded a trade deficit of $5.74 billion in December 2019.

In terms of the peso to the dollar, the think tank said the 200-day moving average continued on the

uptrend. FMIC-UA&P Capital Market Research said the peso is expected to depreciate in the near to medium term.

“A hawkish Fed and surge in Omicron cases globally contribute to the US dollar’s strength. Furthermore, the actual FX broke through 30day MA by end-December fueling expectations of peso weakness,” the think tank said.

“Robust inward OFW remittances should continue in December, which has helped temporarily buoy the peso. However, the widening trade deficits due to high crude oil prices and stronger economic growth in 2022 should keep the peso on a depreciation mode,” it also said.

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Wednesday, February 2, 2022 Vol. 17 No. 117

P25.00 nationwide | 2 sections 18 pages | 7 days a week

NET OUTFLOW FOR HOT MONEY HITS $574M IN ’21

By Bianca Cuaresma @BcuaresmaBM

S

HORT-TERM investments made by foreign investors to the Philippines ended 2021 in outflow territory, the Bangko Sentral ng Pilipinas (BSP) reported.

Foreign portfolio investments (FPI) to the country hit a net outflow of $574.46 million at the end of last year as the total FPI inflow of $13.62 billion fell short to compensate for the $14.19-billion total outflow during the year.

While still in negative territory, the 2021 FPI numbers of the country is an improvement from the $4.24-billion net outflow seen in 2020.

More than 100 activists from Aniban ng Manggagawa sa Agrikultura-SANLAKAS picket at the gate of the Senate in Pasay City on Monday to call on the Senate to reject the Regional Comprehensive Economic Partnership Agreement (RCEP). A state think tank has estimated the implications on Philippine growth of opting out, while a militant think tank says joining it is worse. ROY DOMINGO

By Tyrone Jasper C. Piad

T

@Tyronepiad

HE supply chain sector is anticipating another year of costly operations not only because of pandemic-induced disruptions but also due to investments in innovative measures to keep the industry resilient.

See “Supply,” A2

FPI are known as “hot” or “speculative” money because they are easily pulled in and out of the local platforms with the slight change of global and local sentiment.

In December alone, the country had an FPI net outflow of $4.38 million—reversing the $109.56-million net inflow in November. December’s net outflow, however, was an improvement from the December 2020 net outflow of $523.26 million.

Broken down per instrument, net outflows for listed shares hit $956 million and for other portfolio instruments, $17 million. On the other hand, net inflows for See “Hot money,” A2

PHL talks to China on fertilizers as prices soar

By Jasper Emmanuel Y. Arcalas

T

@jearcalas

HE Philippines is negotiating with China to secure a fertilizer supply deal to help Filipino farmers cope with the rising costs of the farm input that has more than doubled to P2,500 per 50-kilogram bag.

The Philippines is offering to buy urea from China at a price of $500 per metric ton, lower than

“We told them that we need fertilizers and in principle, they have agreed to supply us the volume—whatever we require.”–Fertilizer and Pesticide Authority Exec Director Wilfredo C. Roldan

prices quoted in Europe but higher compared to some China commodity exchanges.

T he World Ba n k ’s mont hly com mod it ies pr ice re por t showed the price of urea in Europe last December 2021 was at $890 per metric ton.

The quotations of urea per metric ton at China’s Zhengzhou Commodity Exchange (ZCE) as of February 1 ranged from CNY2,361 to CNY2,608, equivalent to about

$370 to $410.

Fertilizer and Pesticide Authority (FPA) Executive Director Wilfredo C. Roldan disclosed that talks between the Philippine and Chinese governments about a fertilizer supply deal have been progressing, with Manila making its formal price offer to Beijing.

“We have made some progress. As of now China has already stopped See “Fertilizers,” A2

PESO exchange rates n US 51.2730 n japan 0.4448 n UK 68.7161 n HK 6.5804 n CHINA 8.0504 n singapore 37.8482 n australia 35.8142 n EU 57.1540 n SAUDI arabia 13.6663

Source: BSP (31 January 2022)

A2

BusinessMirror

Wednesday, February 2, 2022

Hot money. . .

Continued from A1

Peso government securities (GS) were recorded at $398 million.

The BSP also said FPI were predominantly invested in listed securities mostly in food, beverage and tobacco; property; holding firms; banks and utilities, while the balance were invested in Peso GS. The UK, US, Singapore, Luxembourg and Hong Kong were the top five investor countries during the year, with a combined share of 77.4 percent.

R iza l Commercia l Bank ing Corporation (RCBC) economist Michael Ricafort said FPI to the country could still potentially improve coming into 2022.

“Any further meaningful reduction in new Covid-19 cases, especially with any further acceleration of vaccination/booster vs.

Covid-19, would eventually help justify measures to further reopen the economy towards greater normalcy,” Ricafort said. “[This] would also help economic recovery prospects gain further traction that help improve investment valuations as well as also help improve the net foreign portfolio investments data,” he added.

Ricafort also said the timely approval of the 2022 national budget, increased infrastructure spending and consumer spending, and the anticipation from this year’s national elections could also influence the hot money flows going in and out of the country for this year.

Senate Blue Ribbon draft report tags Duque, Lao, Pharmally execs

By Butch Fernandez

A

@butchfBM

FTER holding 18 hybrid hearings that spanned several Covid lockdowns, the Senate Blue Ribbon committee released a draft partial report finding liable several public officials led by President Duterte and Health Secretary Francisco Duque III, and recommending criminal charges against executives of pandemic supplies contractor Pharmally Pharmaceuticals Corp.

The draft being circulated among BRC members said Duque III and former budget undersecretary Lloyd Christopher Lao, who is in hiding to evade Senate summons, had allowed billions of public funds to be wasted at a time lawmakers and government agencies were scrounging for resources to fight the Covid-19 pandemic.

Lao, as head of the Procurement Service of the Department of Budget and Management, presided over the biddings for pandemic supplies like face masks, shields and testing kits af-

ter the DOH under Duque transferred in bulk P42 billion in the department’s pandemic budget to PS-DBM. The Blue Ribbon, chaired by Sen. Richard J. Gordon, said Duterte betrayed public trust in appointing Davao-based businessman Michael Yang, a Chinese national, as presidential economic adviser. Yang has been linked by Senate probers to Pharmally, but in several hearings Yang said his only role was to introduce Pharmally executives to some Chinese suppliers.

The draft report pins accountabil-

ity as well on Duterte for the government’s acceptance of a pandemic supplier that is undercapitalized and owned by a fugitive Taiwanese businessman; for his apparent moves to discredit the Commission on Audit and the Senate; for barring officials of the Executive branch from attending Senate hearings, and failing to hold liable those involved in pandemic supply anomalies.

The President’s actions leave the Senate probers concluding that he knew, allowed, and tolerated the anomalies involving his close associates and appointees.

Minority senators, especially Sen. Risa Hontiveros, have argued that the biddings presided over by Lao resulted in overpriced and substandard supplies.

Besides Lao, the Blue Ribbon recommended charges against Lao’s former colleague in PSDBM, Warren Liong, now the overall deputy ombudsman.

The draft report recommended plunder charges be filed against Duque, Lao, Liong; Yang, and Pharmally executives Linconn Ong, Mohit Dargani, Twinkle Dargani, Huwang Tzu Yen, Krizle Grace Mago and Lin Weixiong, who is said to be in Dubai.

Besides fraud against the public treasury, Lao, Liong and Pharmally officials should be prosecuted for violations of the Antigraft and Corrupt Practices Act and the Government Procurement Act, said the report.

Other recommended charges: n Falsification of public documents against Jorge Mendoza and Mervin Tanquintic, the PS-DBM officials who admitted signing inspection reports for PPEs that they did not see and which had not been delivered. n Perjury against Yang, and Pharmally official Rose Nono Lin, wife of Lin Weixiong.

The report sought the deportation of Yang, Lin Weixiong and Qing Jin Ke, the marketing director of Tigerphil that supplied face masks to Pharmally.

The draft report, to be deemed an official report of the blue ribbon committee, must be signed by 11 of the 20 panel members, including the chairman and ex-officio members.

Fertilizers. . .

Continued from A1

their export [of urea] to other countries, including the Philippines. In our last negotiations, they are quite compassionate in dealing with the Philippines,” Roldan said in a virtual press briefing on Tuesday.

“We told them that we need fertilizers and in principle, they have agreed to supply us the volume—whatever we require,” Roldan added.

Roldan said China sought the Philippines’s firm offer for the supply deal with the latter setting the price at $500 per metric ton.

“We have to cross our fingers. We are still negotiating with China. China asked me how much we need and how much price we can absorb,” he said.

“If and when they will agree on that [price], that would be a big reduction in the prices [of fertilizer locally],” he added.

Roldan explained that China is the country’s top supplier of imported fertilizer, particularly urea, as it accounts for 41 percent of total volume. The country’s fertilizer requirement for 2022 is at 2.5 million metric tons (MMT) with 600,000 MT to 700,00 MT of which being consumed in the upcoming planting season, Roldan said.

Latest FPA data showed the average price of urea (prilled) as of the week of January 24 to 28 at P2,517.74 per 50-kilogram bag, from just P1,046.24 per 50-kilogram bag in the same period of last year.

As early as August last year, the DA revealed plans to import fertilizer and sell the farm input at a subsidized cost to farmers in a bid to pull down prevailing prices in the domestic market.

The Philippines was not spared from a global fertilizer supply problem, caused by higher demand from countries expanding their farmlands and stockpiling by some countries.

www.businessmirror.com.ph

Supply. . .

Continued from A1

Supply Chain Management Association of the Philippines (SCMAP) President Pierre Carlo Curay, in an interview with the BusinessMirror, said that logistics are expected to remain expensive this year amid the shipping bottlenecks.

“We are still facing increasing costs across our supply chains, compounded throughout two uncertain years living with the Covid-19 pandemic,” he said. “This is a particular pain point in the Philippines: we are heavily affected by high global shipping costs, and our logistics costs to sales are higher compared to our Asean neighbors, at roughly 27 percent.”

Last year, SCMAP was one of the export industry stakeholders that pushed for the standardized shipping fees amid increasing freight costs due to container imbalance.

The stakeholders, in a position paper, said that shipping charges should be based on International Commercial Terminology (Incoterms)—a globally-accepted standard for international trade—as it will allow businesses to have better cost management.

As such, shipping lines can also be more competitive as Incoterms levels the playing field in terms of pricing, they added.

The concerned parties pointed out that freight costs for shipments sent to the Philippines are more expensive compared to its neighbors in the region. The average cost for local ports amounts to $592 per 20-feet (ft) full container load, much higher than the $202 average in other countries.

Investments On top of this, Curay noted that industry players will also incur additional spending to safeguard the supply chains against the disruptions.

“Apart from operational costs, there will also be costs associated with players embracing new innovations and establishing new norms to forge a more resilient and responsive supply chain,” he said.

This is parallel with the outlook of UK-based think tank Oxford Economics: further investments in warehousing facilities are expected this year to address the supply chain constraints fueled mostly by port congestion amid the pandemic.

The shift to online purchases given the restricted movement in the pandemic has resulted in maximizing the capacities of warehouses in several countries, the think tank noted.

As a result, Oxford Economics said there have been warehouse shortages, signaling the need for expansion amid the growing e-commerce industry.

Other potential investments include initiatives that can help decrease or eliminate carbon footprints of the industry amid the shift to green approach.

“We also see an increasing awareness of the ecological impact of our supply chains, as the threat of global warming continues to hit home particularly in a country like ours, which sees several natural disasters annually. We acknowledge that our efforts to foster an environmentally sustainable supply chain should now be meaningful and for the long-term,” Curay said.

Digitalization Apart from this, Curay said that digitalization can enable the supply chain and logistics industry to keep a stable operation.

“Digitalization used to be the domain of large companies but recent years have seen costs for doing so become more competitive, allowing smaller enterprises to take part,” the SCMAP official said, noting that the growth in this aspect for the past two years surpasses expectations “made for five years.”

“It’s not just about delivering to where our customers are, as in e-commerce, but also about making better decisions faster across our supply chains, through greater visibility, advanced planning and better use of data analytics,” he explained.

In relation to this, Curay said that blockchain technology is the “perfect solution” for the supply chain management.

“As it has different stakeholders that need to coordinate and collaborate to move goods, it provides a platform that allows for faster movement of goods with greater security and visibility,” the SCMAP official said.

The consumers also benefit from this because blockchain allows them to “see the provenance of the products they purchase, allowing them to make better decisions especially with regards to their sustainability,” he added.

Outlook SCMAP said they are observing whether consumer confidence and activities this year will return to pre-pandemic levels already, as such will impact the sector.

“The long-term economic impact of Covid-19 will see weaker purchasing power and less spending on ‘non-essential’ items, which may compound existing challenges in our sector,” Curay explained.

Still, there may be room for some optimism because of continued vaccination rollout as well as manufacturers, retailers, distributors and logistics providers having adjusted already with the current situation, he added.

“As we increase vaccination rates and start getting a better grip on Covid-19, we expect economic activity to improve—and that is a good thing for the supply chain sector,” Curay said.

According to Allianz Risk Barometer 2022, companies in Asia Pacific and across the world identified supply chain disruption as one of the primary risks they must deal with this year.

The study said the pandemic has revealed the vulnerabilities of the modern supply chains, noting that a plethora of unprecedented events can lead to severe bottlenecks.

“Post-lockdown surges in demand have combined with disruption to production and logistics, as Covid-19 outbreaks in Asia closed factories and caused record levels of congestion at major container ship ports,” it explained.

The report added that companies had to shrink or even shut production due to shortage of critical components. Some also had to incur losses from foregone sales due to delivery concerns including constraints on container shipping.

The Nation BusinessMirror

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Former PNoy aides support Robredo’s presidential bid

Army moves ‘skilled’ battalion to E. Visayas in all-out bid to crush insurgency in region

By Rene Acosta

By Roderick L. Abad @rodrik_28 Contributor

J

UST a week before the start of the campaign period for national elective posts, Vice President Leni Robredo has gained new supporters from former aides of various administrations, most particularly that of the late President Benigno S. Aquino III. A total of 95 past Cabinet members, senior government officials, ex-chiefs of the Armed Forces of the Philippines, retired envoys and career civil servants threw their support behind the VP’s presidential ambition as shown in a signed joint statement dated February 1.

Mar Roxas, former secretary of the Department of the Interior and Local Government and standard-bearer of the Liberal Party in 2016, is also endorsing his former running mate’s candidacy as among the signatories.

Per the statement, they trust the Filipino electorate in the May 2022 elections will pick a leader that will mold the future of present and upcoming generations.

“We share our people’s aspirations for a government led by a President who is competent, experienced and committed to the principles of integrity, democracy, and genuine public service,” read the endorsement.

The then public servants, who collectively support Robredo’s bid to hold the top position in the country, are looking for the kind of leadership that has a vision of greatness, prosperity, freedom and self-respect for the country and its people; as well as inclusive and consultative and that will react to censure with an openness to dialogue.

They, likewise, want a government that guarantees the safety and welfare of all citizens while showing consideration for human rights and the rule of law and where law implementors evoke trust and a sense of security; plus dedicated to protecting national sovereignty and one that gains the respect of the community of nations.

What’s more, they seek for an administration that’s in control of a crisis—one that is competent, resolute and able to lead by example; committed to serve the people with empathy and compassion—one that listens and able to be with the poor, the voiceless, and the weary; as well as devoted to what is right and true, and one that runs an honest and responsive government that inspires confidence and pride.

“We believe that the best candidate who embodies these aspirations is a true leader who brings with her a solid track record of serving the public; one who possesses all the qualities of an ideal Chief Executive and Commander in Chief of our Armed Forces,” they said in the paper.

Editor: Vittorio V. Vitug • Wednesday, February 2, 2022 A3

@reneacostaBM

A

N Army battalion from Davao has been redeployed in the Visayas region to boost the campaign against New People’s Army rebels in the central part of the country as the military races to end the communist-led insurgency before President Duterte leaves office this year.

The 3rd Infantry Battalion (3rd IB), which operated in the area of the 10th Infantry Division (10th

ID) in Davao provinces, is heading to Eastern Visayas, which is under the operational area of the 3rd ID to help end the insurgency in the Visayas region.

“The addition of this unit only manifests the sincerity of our government to eradicate the menace of the communist terrorists in this part of the country and sustain the people’s democratic way of life,” said Armed Forces Visayas Command (Viscom) commander Lt. Gen. Robert Dauz.

The 3rd IB, commanded by Col.

Juvenal Mark Tayamen, will be deployed specifically in Samar, a deployment that was made in relation to the order of the Armed Forces Chief of Staff General Andres Centino to end insurgency within Duterte’s term, according to Viscom acting spokesman Major Israel Galorio.

Dauz said while the strength of the rebels is already diminishing in Samar, “there will be no let-up in their operations” and the presence of the 3rd IB will “boost the internal security operation and expedite the dismantling efforts to the remain-

ing guerilla fronts in the province.”

Deployed for six years in Davao’s Paquibato District, the 3rd IB dismantled in 2018 the NPA’s Guerilla Front 54 that operated in Davao City and ended the rebels’ Pulang Bagani Command 2 and 3 a year later. In 2020, it also dismantled the Guerilla Front 56 that operated in the area.

The battalion, according to the 10th ID, also played a big role in the dismantling of the Sub-Regional Committee 5 of the NPA’s Southern Mindanao Regional Committee, which partly came with the surrender

Bill granting HCWs risk benefits gets Senate okay

By Butch Fernandez

@butchfBM

H

EALTH-CARE workers are now assured of receiving their Covid-19 benefits and allowances as long as the state of national public health emergency declared by the President is in place, the head of the Senate Finance committee said Tuesday.

As the sponsor and co-author of Senate Bill 2421 that was approved on third and final reading Monday, Senator Sonny Angara said there should no longer be any impediment in the delivery of the much deserved benefits to HCWs. The bill was filed by Angara and Senator Richard Gordon in response to the Department of Health’s (DOH) request for passage of a law ensuring the continuous grant of the benefits for HCWs under the now defunct Bayanihan laws.

“While it was clear to the proponents of the Bayanihan laws in Congress that the grant of benefits to our health workers should continue for as long as the state of national emergency declared by the President is in place, the expiry of those laws became a cause of delay for the delivery of those benefits and this is what SB 2421 aims to address,” Angara explained.

Once enacted into law, the benefits for the HCWs will be provided even beyond 2022, for as long as the state of national public health emer-

gency is in effect.

“The threat of Covid-19 to our health workers persists. Thousands of them are getting sick and many are dying. This bill recognizes their gallantry and sacrifice for the nation,” Angara said, mostly in Filipino.

Under the bill, all public and private health workers, regardless of employment status, will get a singular monthly Covid-19 Risk Allowance based on the following categories: P3,000 for those deployed in “low-risk” areas; P6,000 for “medium-risk” areas; and P9,000 for “high-risk” areas.

Angara said the HCWs can receive the full amount if they are able to physically report to work for at least 96 hours in a month.

Apart from the monthly allowances, the bill also compensates HCWs who contracted Covid-19 while in the line of duty in the following amounts: P15,000 for mild or moderate cases of sickness; P100,000 for severe or critical cases; and P1 million in case of death.

Non-medical workers and outsourced personnel hired under institution or individual contract of services or job order basis who are assigned in health facilities and are similarly exposed to Covid-19 will enjoy the same benefits.

Regular Covid-19 testing for the HCWs will also be provided and any worker confined due to Covid will enjoy full PhilHealth coverage to cover

the cost of hospitalization.

Inclusive definition

RECOGNIZING the complaint of many frontliners the past two years that many of them were not deemed at risk even if they played vital roles, the bill defines health and nonhealth workers to refer to all public and private medical, allied medical, administrative, technical and support personnel and other necessary personnel employed by and assigned in hospitals, health facilities, laboratories, medical or temporary treatment and monitoring facilities or vaccination sites and those who are involved in Covid-19 response.

Barangay health workers (BHW) who are part of the DOH’s BHW registry system and are assigned in health facilities including swabbing and vaccination sites and those administering medical assistance, including those assigned in barangay health emergency response teams or their successor entities and involved in Covid-19 response are included as health workers and will also receive the same benefits.

Under the 2022 General Appropriations Act, a total of P51 billion was provided for the Covid-19 risk allowance and compensation of HCWs. Angara said the benefits under the bill shall have a retroactive application from July 1, 2021 and shall remain in full force and effect during the state of national public

health emergency as declared by the President.

“With the passage of this measure and the funding already provided under the 2022 GAA, we expect the DOH to facilitate the provision of all the benefits due to our health workers without delay,” Angara said.

“We thank our colleagues who gave their full support to this measure, particularly our co-authors Sens. Richard Gordon, Imee Marcos, Nancy Binay, Risa Hontiveros, Joel Villanueva, Majority Leader Migz Zubiri, Bong Go, Ronald Dela Rosa, Kiko Pangilinan, Win Gatchalian, Francis Tolentino, Grace Poe, Cynthia Villar, Pia Cayetano, Senate President Pro Tempore Ralph Recto, Minority Leader Franklin Drilon, and Senate President Vicente Sotto III,” Angara added.

Gordon: Boost to morale

THE Senate, voting 23-0, passed on third reading Monday an enabling bill granting Covid-related benefits to public health personnel.

Sen. Gordon, acknowledging the unanimous support for the awaited legislation that he first introduced, said the awaited benefit bill will definitely “boost the morale of health workers.”

Gordon added it was “very important that we conveyed a signal” in quickly passing the enabling legislation for the benefit of public health personnel.

Measure holding firms responsible over plastic waste gets senators’ nod

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HE Senate unanimously passed Monday an awaited remedial legislation mandating large companies to “adopt and enforce” proper disposal of plastic packaging wastes.

Voting 20-0, senators approved Senate Bill 2425 principally sponsored by Sen. Cynthia Villar that once enacted into law will “institutionalize” the Extended Producer Responsibility (EPR), effectively updating Republic Act 9003, or the Ecological Solid Waste Management Act. As chairperson of the Committee on Environment, Natural Resources and Climate Change, Villar led Senate efforts to craft a remedial legislation

that will effectively respond to the mounting clamor to “regulate singleuse plastics and its production, importation and disposal by industries.”

Acknowledging the senators’ support for timely passage of the awaited bill, Villar clarified “it is not a solution in itself, but it is a move in the right direction, I believe.”

She stressed “we need to rescue our country from being a marine litter culprit and demonstrate that a developing country can and will make this work.”

Villar affirmed that “through the EPR, companies would have to shoulder the responsibility for the proper and effective recovery, treatment, re-

cycling or disposal of their products after they have been sold and used by consumers” to reduce packaging waste generation and improve the recyclability and reusability of packaging wastes.

Moreover, the senator reminded that “obliged companies” would include producers, manufacturers and importers of consumer goods using plastic packaging. “They shall be responsible for making financial contributions to support the collection, recovery, transportation, processing, recycling and disposal of their plastic packaging wastes,” Villar added.

At the same time, she clarified that micro, small and medium en-

terprises (MSMEs) would not be required to have EPR programs as provided in the bill.

As passed, Senate Bill 2425 fixed set targets until 2030 for the full compliance of required companies to “improve their performance over time.”

It also provided that producers, distributors and retailers implementing EPR programs would likewise be eligible to apply for tax incentives.

The Villar bill, likewise, provides for the imposition of fines ranging from P5 million to P20 million as penalties for failure to comply with the mandated EPR, as well as failure to meet the targets imposed by the bill. Butch Fernandez

of its secretary, Ida Marie Montero, alias Ka Mandy, along with other leaders and members of the group.

Galorio said the 3rd IB has gained vast experienced in guerilla warfare and familiar with the rebels’ tactics.

On Monday, a firefight between elements of the 19th IB and rebels under Front Committee 1 of the Sub-Regional Committee “Emporium” transpired in Barangay Senonogan De Tubang, Silvino Lobos, Northern Samar.

Galero said the soldiers recovered an anti-personnel mine, a .45 caliber pistol and an improvised rifle.

UniTeam: Our diplomatic policy is pro-Philippines

T

HE BBM-Sara UniTeam has assured Filipinos that its foreign policy will not be for the interest of other countries or foreign powers but only for the interest of the Philippines.

In an interview with social-media influencer Thinking Pinoy, presidential aspirant and former Senator Ferdinand “Bongbong” Marcos Jr., was asked whether his foreign policy will be anti-China or pro-China and/ or anti-US or pro-US if ever elected in the 2022 polls.

He i m med i ate ly a ns wered and categorically stated that the UniTeam’s policy would be “pro-Philippines.”

“Pro Philippines, I’ve always said that,” Marcos was quoted as saying.

“Well, it’s very simple in my mind.

I don’t work for Washington DC, I don’t work for Beijing. I work for the Philippines, so what is in the national interest of the Philippines? ’Yun lang naman dapat ang ating isipin. ’Yun ang ipaglaban natin,” Marcos stressed.

Marcos further said that he understands that the country has an ongoing conflict with China over the West Philippines Sea, but he maintained that his policy must be for the general welfare and benefit of every Filipino.

“You cannot afford mistakes or misjudgments or lack of understanding when it comes to the Department of Foreign Affairs [DFA] when it comes to foreign policy.

We have to get it absolutely right,” Marcos noted.

“The Philippines right now is trying to walk a very fine line between all the superpowers. I mean, we are talking to the United States, we have special relationship with the US, which will endure, I think through all over our lifetime,” he pointed out.

“Now, the emerging power in the region, of course, is the People’s Republic of China. Luckily we also have a good relationship with China,” he added.

Marcos also said that it is very important to appoint a very “wellversed” Foreign Secretary that will help the government in its diplomatic relations.

House approves 18 bills on final reading before start of election period–Velasco

By Jovee Marie N. Dela Cruz @joveemarie

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HE House of Representatives has endorsed for Senate approval 18 bills of national significance.

“Before we return to our districts to prepare for the upcoming electoral campaign, it is only necessary that we approve all bills that are ready for final reading,” House Speaker Lord Allan Velasco said.

The House is now on its final session week ahead of the May 9 local and national elections, and a few days before the start of the campaign period for nationally elected

posts on February 8.

Approved on final reading are the following national bills: House Bill (HB) 10701, which seeks to grant mandatory continuing benefits to public, private and barangay health workers during the Covid-19 pandemic and other future public health emergencies, and HB 10699 or “An Act Providing for Magna Carta of Barangay Health Workers.”

HB 10697 or “an Act Establishing the National Center for Geriatric Health and Research Institute, Defining its Powers and Functions, Creating Regional Geriatric Specialty Centers in Department of Health-Re-

tained Hospitals, and Appropriating Funds Therefor.”

HB 10571 regulating the operation of motorcycles-for-hire; HB 10575 enhancing the competitiveness of Philippine maritime trade by strengthening the oversight functions of relevant government agencies over charges imposed by international shipping lines; HB 10612 providing for full and effective implementation of international maritime instruments to which the Philippines is a state party; HB 10647 granting additional benefits to Filipino centenarians and recognizing octogenarians

and nonagenarians; HB 10648 granting legislative franchise to Oro Broadcasting Network Inc.; HB 10650 establishing apex hospitals in every region of the country and providing funds therefor; HB 10672 renaming the Literacy Coordinating Council to National Literacy Council, strengthening its powers and functions, and expanding its membership structure and support mechanisms; HB 10690 prescribing the use of neo-ethnic Philippine textiles in the academic regalia of all state universities and colleges; HB 10625 creating the Depart-

ment of Economics and Development Planning; HB 10657 promoting Philippine indigenous and traditional writing systems and providing for their protection, preservation and conservation; HB 10658 strengthening the policies on anti-trafficking in persons and appropriating funds therefor, amending for the purpose Republic Act (RA) 9208, as amended, otherwise known as the Anti-Trafficking in Persons Act of 2003; HB 10693 converting the Provincial Science and Technology Center into Provincial Science and Technology Office in every province

and appropriating funds therefor, repealing for the purpose RA 6959; HB 10696 institutionalizing the practice of extended producer responsibility on plastic products, amending for this purpose RA 9003 or the Ecological Solid Waste Management Act of 2000; HB 10698 strengthening the Sangguniang Kabataan by institutionalizing additional reforms to revitalize youth participation in local governance and by providing honorarium and other benefits and privileges; HB 10703 strengthening the protection against online or offline child sexual abuse or exploitation.

Economy BusinessMirror

A4 Wednesday, February 2, 2022 • Editor: Vittorio V. Vitug

BI readies for influx of intl passengers as Philippines eases pandemic curbs

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By Joel R. San Juan

@jrsanjuan1573

HE Bureau of Immigration (BI) is now getting ready for an influx of arriving international passengers following the government’s decision to reopen the country to foreign tourists and ease quarantine restrictions starting February 10.

Commissioner Jaime Morente assured that the agency has sufficient manpower to handle the volume of arriving foreign tourists.

“We continue to operate at full capacity in the airports as we

anticipate an increase in international flights and passengers in the next few weeks,” Morente assured.

As part of its preparation, the BI said a reserve team has been formed

in case there would be a need to deploy more personnel to assist immigration frontliners.

“To cope with a sudden or unusual increase in passenger volume we have formed a reserve team of immigration officers from other BI officers who will be tapped to augment and assist our frontliners at the airport if the need arises,” BI said.

The BI chief noted that some 400 BI personnel who earlier tested positive for the virus or have gone on isolation and quarantine have already returned to work.

Most of these personnel are assigned at the Ninoy Aquino International Airport (Naia).

“We are ready and we have the available manpower to address this projected increase in passenger volume in our airports,” Morente said, while noting a sudden decline

in the number of immigration officers who are still infected with the Covid-19 virus.

As of January 31, BI said there are only 23 immigration officers assigned at the airports that are still recovering from Covid-19.

Out of the number, 14 are stationed at Naia, four at the Clark airport, two in Mactan, two in Kalibo, and one in Davao.

Under the latest resolution issued by the Inter-Agency Task Force on the Management of Emerging Infectious Diseases (IATF), incoming fully vaccinated foreign tourists are again allowed to enter the country without a visa for 30 days.

Since the start of the pandemic in 2020, the Philippines had closed its borders to tourists, allowing only foreigners with valid Philippine visas to enter.

Senators’ approval of Marawi compensation bill welcomed

By Cai U. Ordinario

@caiordinario

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HE Senate’s unanimous vote to pass the Marawi Compensation Bill on third and final reading is a big step toward helping improve the lives of Maranaws, particularly those displaced by the siege, according to Task Force Bangon Marawi (TFBM).

TFBM Chairman and Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario said the Marawi Compensation Bill would be a “huge boost” in the recovery of those displaced by the Marawi siege in 2017.

The bill aims to provide compensation for the loss or destruction of private property brought about by the five-month battle between government forces and Daesh-inspired terrorists more than four years ago. “[This is] a huge boost to the morale of our Maranaw brothers and sisters who were affected by the infamous 2017 siege.

They have long been clamoring for this legislation, and, hopefully it will soon be enacted into law,” del Rosario said.

International Alert Philippines, which serves as the secretariat of the multi-stakeholder Marawi Reconstruction Conflict Watch (MRCW), also welcomed the Senate’s passage of the bill.

“The provision of just compensation for victims of the Marawi siege will go a long way in helping them attain justice. We ask both Houses of Congress to work hard towards consolidating the two versions for its final passage and signing by the President before they go into recess for the election season,” International Alert said.

Senate Bill No. 2420, dubbed the Marawi Siege Victims Compensation Act, garnered 23 affirmative votes, zero negative votes and no abstentions.

The Senate’s passage of the bill came four months after the House of Representatives approved its own version of the bill.

Along with its 56 implementing agencies, the TFBM said it has been focusing on rehabilitating public infrastructures like school buildings, road networks, bridges, mosques, public parks, sports and convention complexes and public market since construction for such facilities went on full-blast in July 2020.

Assistance from the bill, when enacted into law, could be used in the reconstruction of private properties like houses. On Monday, the TFBM chief briefed the Mindanao Development Authority (MinDA) on the latest updates of the ongoing rehabilitation via video conference.

www.businessmirror.com.ph

Senate okays bills for creation of 14 fish hatcheries nationwide

By Butch Fernandez

@butchfBM

T

HE Senate, in a unanimous vote, promptly passed Monday related enabling bills paving the way for the establishment of 14 marine hatcheries nationwide.

Voting 21-0, senators quickly approved related local bills seeking the establishment of marine hatcheries in different parts of the country, including: House Bill No. (HBN) 7435 (Libon, Albay); HBN 7544 (Sta. Lucia, Puerto Princesa, Palawan); HBN 7547 (Batad, Iloilo); HBN 7691 (Basilisa, Dinagat Islands); HBN 9933 (Calbayog, Samar); HBN 9934 (San Jose, Northern Samar); HBN 9935 (Samal, Davao del Norte); HBN 9936 (Basey, Samar); HBN 9937 (Carmen and Braulio E. Dujati, Davao del Norte); HBN 9938 (Bombon, Camarines Sur); HBN 9939 (Tibiao, Antique); HBN 9940 (San Jose, Occidental Mindoro); HBN 9941 (Sto. Domingo, Nueva Ecija); and HBN 9942 (Bagac, Bataan).

In sponsoring its plenary approval in one sitting, Sen. Cynthia Villar, chairperson of the Committee on Agriculture, Food, and Agrarian Reform, affirmed the need for multi-species marine hatcheries to ensure sustainable supply of marine products.

“We have a lot of catching up to do to support our fishing industry,” Villar admitted, warning,

“otherwise, we will compromise our food security.”

She pointed out that hatcheries are expected to “help solve the problem of dwindling fish supply in our country and secure the livelihood of small fishermen in the municipal waters.”

Moreover, Villar reminded that fisheries in the Philippines “make a significant contribution to the national economy in terms of income and employment,” recalling that in 2018, total fish production was estimated at 4.61 million metric tons and the fisheries sector contributed $4.9 billion to the country’s economy in 2018.

The senator added, however, that compared to other Southeast Asian nations, “the Philippines is only No. 4 in marine capture” after Indonesia, Vietnam, and Myanmar; No. 5 in inland municipal water fishery output compared to Myanmar, Indonesia, Cambodia, and Vietnam; and No. 3 with regard to aquaculture production after Indonesia and Vietnam.

At the same time, she suggested that “building more hatchery facilities to improve the country’s fish farming capability is one of the long-term solutions to improve productivity,” noting “the country’s traditional fishing grounds are getting overfished and the government needs to create breeding grounds and hatcheries to help arrest the dwindling fish stock.”

‘Faster and more reliable:’ LRT 1 completes signaling system work

By Lorenz S. Marasigan @lorenzmarasigan

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HE Light Rail Manila Corp.

(LRMC) said on Tuesday it has completed upgrading the signaling system of the Light Rail Transit (LRT) Line 1.

In a news statement, LRMC chief operating officer Enrico R. Benipayo said with the upgrade of the system to Alstom, commuters could expect “a faster and more reliable railway.”

“We are happy to inform you that we have reached another milestone at LRMC as we have successfully migrated to the new Alstom signaling system. We have carefully planned these works to also improve the total traffic control system of LRT 1 while the operation was suspended on three Sundays,” he said.

To recall, LRMC had to suspend the operation of the train line on November 28, January 23, and

January 30 to make way for test and trial runs for the upgraded signaling system.

“We would like to thank our passengers for their understanding and patience as this initiative will surely result in a more modern and reliable system at LRT 1,” Benipayo said.

The new signaling system boasts of an “advanced communication and modern technology to continuously control and monitor the operation of its trains.”

Benipayo added that the new signaling system improves capacity and performance across the line, enabling more trains with better connections and greater reliability.

Moreover, the new signaling system along the existing line—Baclaran to Balintawak Station—will facilitate the testing, commissioning, and operation for revenue service of the 4th Generation train sets, which is targeted to start in mid-2022.

Congress approves measure for construction of S. Luzon medical center

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O cater to the medical needs of people from Southern Luzon and decongest Metro Manila hospitals, the 18th Congress is approving the bill creating the Southern Luzon Multi-Specialty Medical Center.

House Committee on Health chairperson Rep. Angelina “Helen” D.L. Tan, M.D. said the lower chamber and the Senate have already approved the proposal to establish the Southern Luzon Multi-Specialty Medical Center, which will be located in Tayabas, Quezon.

According to Tan, the multi-specialty hospital shall be designated as one of the APEX hospital of the Southern Luzon regions. “There shall be priority for the needs of the underprivileged, sick, elderly, disabled, women, and children. The State shall endeavor to provide free medical care to paupers,” Tan said citing the Constitution.

The bill said the hospital shall be under the control and supervision of the Department of Health.

The proposal seeks to help patients

from Southern Luzon who are seeking medical assistance from Metro Manila’s multi-specialty hospitals, including Philippine Heart Center, National Kidney and Transplant Institute and Lung Center of the Philippines.

Tan, principal author of the bill, said patients from Southern Tagalog region, including, Batangas, Cavite, Laguna, Marinduque, Occidental Mindoro, Oriental Mindoro, Palawan, Quezon, Rizal, Romblon and Lucena will benefit from the establishment

of the multi-specialty hospital.

Under the bill, the secretary of health shall immediately include in the department’s program the implementation of the proposal while the funding of the hospital shall be included in the annual General Appropriations Act. Also, the bill mandates the DOH to prepare and issue the necessary rules and regulations for the effective implementation of the proposal consistent with the hospital development plan.

Jovee Marie N. Dela Cruz

Chairperson Dela Rosa-Bala ends CSC term, leaves legacy of ‘malasakit’

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LICIA DELA ROSA-BALA ended her fixed term as head of the Civil Service Commission (CSC), the central human resource (HR) agency of the Philippine government, on Wednesday February 2, 2022.

Chairperson Dela Rosa-Bala was appointed by former President Benigno C. Aquino on October 9, 2015.

She brought her expertise and years of experience in social work to the CSC to introduce policies and programs that empower and uplift civil servants and promote social change and development, bringing “malasakit” to public sector HR management.

Under her helm, the CSC promulgated guidelines to institu-

tionalize occupational safety and health and mental health programs in the public sector. It also issued rules on mandatory random drug testing among civil servants in support of the government’s anti-drug campaign.

Also issued were guidelines on the administration of the Career Service Examination-Pen and Paper Test to persons with disabilities, pregnant women, and senior citizens, as well as to female examinees wearing Muslim covering/clothing. The policies aim to make the test procedures more inclusive, especially to individuals with special needs.

She also led the commission in releasing implementing rules and

regulations for the grant of 105day expanded maternity leave to female workers (in partnership with the Department of Labor and Employment), as well as the 60-day adoption leave for qualified adoptive parents.

In the last two years, the CSC issued interim guidelines to promote civil servants’ welfare and ensure continued public services amid the global Covid-19 pandemic. These policies offered agencies the option to adopt alternative work arrangements, and civil servants to avail themselves of excused absence with pay for not being able to report for work due to quarantine, isolation, and/or treatment, adverse events

following immunization, and community quarantine restrictions, among others.

The CSC issued two landmark civil service policies in 2017, the Rules on Administrative Cases in the Civil Service (RACCS) and the Omnibus Rules on Appointments and Other Human Resource Actions in the Civil Service (ORAOHRA).

Both issuances lay down the rules for discharging the Commission’s basic mandates—the RACCS, for the disposition of administrative disciplinary and non-disciplinary cases, and the ORAOHRA, for enforcing the merit system in the civil service through rules on appointments and other HR actions.

News BusinessMirror

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Senate okays ‘record-breaking’ 166 bills in single day–Zubiri

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HE Senate of the Philippines has approved a record 166 bills on third reading, the most bills approved in a single day in recent Senate history, if not this past decade.

“I thank our presiding officer, Senate President Vicente Sotto III, for his guidance and leadership, allowing us to become incredibly productive. And I thank all our colleagues for diligently studying and voting on each and every measure. I can say without a doubt that this Senate body has been one of the most hardworking groups in Senate history,” said Senate Majority Leader Juan Miguel Zubiri, who shepherded the approval of the 166 bills.

Most of the bills are of local import, creating state universities and colleges, primary and secondary schools, hospitals, and marine hatcheries, and the establishment of provincial offices for the Commission on Higher Education, the Land Transportation Office, and the Land Transportation Franchising and Regulatory Board, bringing these agencies closer to the people.

“We hope our colleagues in the House of Representatives appreciate our effort to pass these local bills.

Having been a congressman myself, I know how hard they work to deliver the necessary legislation for their respective constituents, and so I am very glad that we have all been able to efficiently work together for our people,” Zubiri added.

Nine bills, meanwhile, are of national application: the Marawi Siege Victims Compensation Act, the Covid-19 Benefits and Allowances for Health Workers Act, the Expanded Anti-Trafficking Act, the Foundling Recognition and Protection Act, amendments to the Philippine Deposit Insurance Corporation Charter, the Vintage Vehicles Regulation Act, the Second Congressional Commission on Education Act, the Extended Producer Responsibility Act, and the act declaring August 30 as National Press Freedom Day. “I am glad that everyone has been amenable to working overtime, so we can pass these important bills before adjournment—especially bills like the Marawi Compensation Act and the Allowances for Health Workers Act, which a lot of people have been waiting for. This really is a working Senate, and I am so proud to be part of it.”

Wednesday, February 2, 2022 A5

DENR chief says he’s ‘pleased’ with Manila Bay rehab gains

By Jonathan L. Mayuga @jonlmayuga

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HE rehabilitation of Manila Bay will continue to be among the top priorities of the Department of Environment and Natural Resources (DENR) this year, Secretary Roy A. Cimatu said.

Sharing the significant accomplishments of the government in terms of improving the physical appearance and water quality of Manila Bay, Cimatu said he is personally satisfied with what they have done so far, admitting that there were some setbacks due to natural hazards and the situation brought about by the pandemic.

Manila Bay was once upon a time an awful sight due to the tons of garbage being washed ashore during typhoons.

It was on January 27, 2019, when the DENR-led interagency Manila

Bay Task Force launched the Battle for Manila Bay, rallying the support of local government units and the private sector to bring back Manila Bay’s aesthetic beauty.

“I am especially pleased with our transformation of Manila Bay. We should be more appreciative of what we have achieved thus far, despite the challenges posed by the pandemic and natural disasters over the past couple of years,” Cimatu said in a news statement.

In his message at the DENR’s Expanded Executive Committee Conference on January 18, Cimatu said he was grateful to the Duterte administration for its full support of the rehabilitation program.

“Thanks to the creation in February 2019 by President Rodrigo Roa Duterte of the Inter-Agency Manila Bay Task Force, led by the DENR, to expedite the rehabilitation of the bay’s degraded coastal and marine

ecosystems,” Cimatu said.

The DENR chief underscored the significant impacts brought about by the interventions that were put in place to achieve a water quality that will be fit for water contact activities in Manila Bay. “Our sewage treatment plants in three outfalls are reducing fecal coliform counts significantly in the bay’s water,” Cimatu said.

“Along with solar-powered restrooms and other geo engineering interventions, our work will enable the public to enjoy swimming, boating, and fishing in the bay, hopefully by the end of my term this midyear, in addition to strolling on the dolomite beach,” the DENR chief added.

DENR Assistant Secretary for Field Operations-Luzon Gilbert Gonzales, meanwhile, cited the accomplishments of the three regional offices with jurisdiction over Manila Bay.

He said 2,379 “estero” rangers were hired to conduct daily cleanup of water bodies draining to the Manila Bay, and have helped collect 82 million cubic meters of waste.

The DENR-National Capital Region (NCR), where the concentration of the rehabilitation program is being conducted, had the largest amount of waste collected at around 72 million cubic meters.

A total of 249 trash traps were also installed to control the outflow of garbage from the tributaries to Manila Bay. The DENR-Region 3 has installed the highest number of trash traps with 223, while the DENR-Region 4A has installed 16, and the DENRNCR with 10 trash traps.

“These are the immediate measures that were introduced by the three regions to be able to address the garbage that flows out to the Manila Bay,” Gonzales said.

‘Totally nonsense,’ Gadon says on calls for Ferolino to relinquish Comelec post

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ONTROVERSIAL senatorial candidate Atty. Larry Gadon has questioned the challenge hurled by retiring poll official Rowena Guanzon for Comelec First Division Commissioner Aimee Ferolino to resign along with her, as the word war in the Comelec continued to sizzle.

On Tuesday, Guanzon also

threatened to mount an impeachment complaint against Ferolino, whom she has accused of deliberately delaying the ponencia of the First Division decision on the disqualification cases against presidential aspirant Ferdinand “Bongbong” Marcos Jr. so that her vote will no longer be officially counted, as she officially retires

Doctors describe Vape Bill as ‘best hope’ to help millions of Filipino smokers quit

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HE Vape Bill provides the best hope to help millions of Filipino smokers quit and avoid serious illnesses and even death, according to prominent Filipino doctors who support the regulation of less harmful alternatives to cigarettes.

Dr. Telesforo Gana, past president of the Philippine Urological Association and past chairman of the Philippine Board of Urology, is one of the thousands of former Filipino smokers who were able to quit, with the help of vaporized nicotine products.

“It took me a very long time to stop smoking. Without vapor products, I would not have been able to fully stop. The reality is many smokers will try to stop smoking, but will never be successful. That is what the WHO [World Health Organization] data says,” Dr. Gana said.

Dr. Gana said the Vape Bill, as ratified by Congress, provides a pragmatic approach to address the smoking epidemic that affects 16 million Filipinos.

Dr. Romeo Luna Jr., a top eye doctor and president of the San Juan City Medical Center Staff Association, said he lost relatives and friends because they could not stop smoking.

“The grim reality today is that there are still 16 million Filipino smokers and many of them will not stop smoking. As a medical practitioner, it is my duty to give them an alternative to make them stop smoking. That’s why I support the passage of the Vape Bill because it is our best hope to stop the smoking epidemic,’’ he said.

Other doctors also described the Vape Bill as a big win for public health. “The logical conclusion is that vapor products will save the lives of 16 million Filipino smokers or at the very least reduce their health risks.

Therefore, regulation and not prohibition is key. This is what the vape bill seeks to do. The Vape Bill is clearly a big win for public health. Those who would like to ban vaping may indirectly be supporting smoking. We don’t want that,” said Dr. Fernando Fernandez, Secretary General of the Asia Pacific Dental Federation and the past president of the Philippine

Dental Association.

An oral and maxillofacial surgery expert, Dr. Fernandez has personally seen what smoking does for patients who develop oral cancer. He said contrary to the personal beliefs of some medical professionals who are against the Vape Bill, many experts in the Filipino medical community believe in the scientific findings of public health authorities in the United States, United Kingdom and the European Union that vapes are much less harmful alternatives to cigarettes.

Dr. Christian Luna, medical director of the Tulay Lingap Ni Padre Pio Surgicenter, said the medical community should focus on cigarettes as the ‘real enemy.’ He said that as less harmful alternatives, vapor products can help end the use of cigarettes in the country.

The Social Watch Philippines (SWP), meanwhile, commended the Department of Education (Deped) for joining the health department and civil society organizations in appealing to veto the proposed Vaporized Nicotine Products Regulation Act or the Vape Bill.

“We would like to applaud DepEd for protecting the welfare of Filipino learners. What we need now is an evidence-based policy and recommendations that will secure the reduction of the prevalence of tobacco and nicotine dependence, not a bill that pretends to be a health measure. The Philippines must take the precautionary stance in dealing with the deadly novel tobacco products and immediately implement RA 11467. If passed into law, SB 2239 will continue to alter the image of vapor products,promotedoubtsonitsharms, andmisleadthepublic,”SWPexplained.

Dr. Arleen Reyes, past president of the Philippine Dental Association, for her part, said she appreciates the provisions in the Vape Bill that protect minors. “There is no debate that vapor products should not be sold to minors or non-smokers and that this should be properly regulated. Hence, I fully support the inclusion of all necessary safeguards in the Vape Bill to protect minors and non-smokers,” said Dr. Reyes.

on February 2.

In a video message, Gadon, a Kilusang Bagong Lipunan (KBL) candidate for senator, laughed off Guanzon’s dare for Ferolino to resign.

“This is laughable….Why should Commissioner Ferolino resign when her term is up to 2026? While Commissioner Guanzon is due to retire today,” said Gadon, mostly

in Filipino.

“I am sure Commissioner Ferolino is not stupid to heed that challenge,” Gadon added, calling the challenge “totally nonsense.”

Earlier, some groups questioned what they called Guanzon’s premature disclosure of her vote and separate opinion on the disqualification case against Marcos.

Gadon said such premature disclosure could constitute undue pressure and influence on the other commissioners in the First Division and cannot be considered an official decision.

Gadon noted that Guanzon is a noted political appointee of the late former President Noynoy Aquino. Meanwhile, he said, Fero-

Change in Comelec 1st Division may further delay resolution of BBM case

By Samuel P. Medenilla @sam_medenilla

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HE looming change in the membership of the Commission on Elections’ First Division is threatening to further delay the resolution of its pending consolidated disqualification case against presidential aspirant Ferdinand “Bongbong” Marcos Jr. Comelec Commissioner Rowena V. Guanzon said her retirement on Wednesday (February 2) and the transfer of the Comelec Commissioner Marlon S. Casquejo to the Comelec Second Division to serve as its presiding commissioner may require the consolidated case to be “re-raffled.”

Both changes in the Comelec First Division membership will take effect February 3, 2022.

“Now since it is different composition, there will be different signatures, it should be re-raffled so that another commissioner of the first division will be writing the draft resolution, which we call the ponencia,” Guanzon explained during the virtual briefing organized by the Foreing Correspondents Association of the Philippines (FOCAP) last Tuesday.

The decision of the raffle will depend on the discretion of the soon-to-be presiding First Division, Comelec Commissioner Socorro B. Inting.

Conspiracy to delay?

THE Comelec First Division has yet to issue a decision on the consolidated case filed by Akbayan Citizens’ Action Party, Bonifacio Ilagan, and Abubakar Mangelen against Marcos after it was submitted for resolution last month.

Guanzon blamed the “delay” on Comelec Commissioner Aimee P. Ferolino, who was assigned to pen the ponencia, or the draft resolution of the decision on the case.

She claimed Ferolino “conspired” with a “senator from Davao,” whose identity she declined to reveal without the protection from the Senate.

“I already informed Senator [Vicente C.] Sotto. So I am just waiting for him to get back to me. We agreed to discuss this matter over the telephone. So let it be in the Senate, where I have protection under privileged communication

because you know some of these senators can be heavy-handed and arrogant,” Guanzon said.

The delay in the resolution of the case will benefit the Marcos camp, according to Guanzon.

“I believe their grand design is for him to run and finish the elections, hoping he will really win without the Supreme Court yet ruling on his disqualification. Then hoping the Supreme Court will also be slow in deciding on this so he can sit as president for a few years,” Guanzon said.

Mind conditioning

FEROLINO extensively belied the claims of Guanzon that she is deliberately delaying the release of the decision, stressing she is merely doing her job to scrutinize the evidence related to the case to come out with a decision.

“The only reason for the unavailability of the resolution after 15 days is that I am reviewing three consolidated cases among others thoroughly to craft an objective resolution,” Ferolino said in a memorandum she issued to Guanzon last Monday.

She called on Guanzon to “stop conditioning the minds of the people” of the alleged delay, stressing that she did not agree on the 15-day deadline set by the latter.

“In all that I do, I take into consideration the timelines and the rules, I see to it that I perform my duty within the bounds of the law,” she added.

Impeachment complaint

SUCH alleged conspiracy on the “delayed” resolution, Guanzon said, could expose Ferolino to the risk of impeachment for “hijacking” her and Casquejo’s chance to vote on the case.

“I already said, Commissioner Ferolino, what you are doing is already a violation of Section 3C of the Anti-graft and Corrupt Practices Act. You are delaying your decision to favor a litigant.

That is graft and that is an impeachable offense,” Guanzon said.

When asked if she will consider filing the impeachment complaint against Ferolino, Guanzon said she may consider it if Marcos loses in the upcoming 2022 National and Local Elections.

lino has served in the Comelec for long, rising from the ranks until she was named commissioner by President Duterte.

Saying Guanzon’s acts “are much more serious than hurling invectives at a liar reporter,” Gadon urged the Supreme Court to “motu propio suspend her with threats of disbarment.”

A6

Wednesday, February 2, 2022

The World BusinessMirror

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

Russia and US exchange accusations over Ukraine

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NITED NATIONS—Russia accused the West on Monday of “whipping up tensions” over Ukraine and said the US had brought “pure Nazis” to power in Kyiv as the UN Security Council held a stormy and bellicose debate on Moscow’s troop buildup near its southern neighbor.

US Ambassador Linda ThomasGreenfield shot back that Russia’s growing military force of more than 100,000 troops along Ukraine’s borders was “the largest mobilization” in Europe in decades, adding that there has been a spike in cyberattacks and Russian disinformation.

“And they are attempting, without any factual basis, to paint Ukraine and Western countries as the aggressors to fabricate a pretext for attack,” she said.

The harsh exchanges in the Security Council came as Moscow lost an attempt to block the meeting and reflected the gulf between the two nuclear powers. It was the first open session where all protagonists in the Ukraine crisis spoke publicly, even though the UN’s most powerful body took no action.

Hours later, the Russian government sent a written response to a US proposal aimed at deescalating the crisis, according to three Biden administration officials. The officials all spoke on the condition of anonymity.

A State Department official declined to offer details of the response, saying it “would be unproductive to negotiate in public” and that they would leave it up to Russia to discuss the counterproposal.

Although more high-level diplomacy is expected this week, talks between the US and Russia have so far failed to ease tensions in the crisis, with the West saying Moscow is preparing for an invasion. Russia denies it is planning to attack. It demands pledges that Ukraine will never join Nato, a

halt to the deployment of Nato weapons near Russian borders and a rollback of the alliance’s forces from Eastern Europe. Nato and the US call those nonstarters.

Russian Ambassador Vassily Nebenzia accused the US of interfering in his country’s internal affairs and seeking “a classic example of megaphone diplomacy.”

Thomas-Greenfield countered that the US has held over 100 private meetings in the past few weeks with Russian officials and European and Ukrainian colleagues and “it’s now time” for a discussion in public.

To Russia’s assertion that the US called the meeting to make all council members feel uncomfortable, she retorted, “Imagine how uncomfortable you would be if you had 100,000 troops sitting on your border.”

After the council gave a green light for the meeting, Nebenzia accused the Biden administration of “whipping up tensions and rhetoric and provoking escalation.”

“You are almost pulling for this,” he said in his speech to the council, looking at ThomasGreenfield. “You want it to happen.

You’re waiting for it to happen, as if you want to make your words become a reality.”

He blamed the US for the 2 0 14 o u s t e r o f a K r e m l i n friendly president in Kyiv, saying it brought to power “nationa lists, rad ica ls, Russophobes and pure Nazis” and created the antagonism that exists between Ukraine and Russia.

Nebenzia pointedly left the council chamber as the Ukrainian Ambassador Sergiy Kyslytsya

Australia has $1-B plan to convert ideas into jobs

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ELLINGTON, New Zealand—Australia’s government said Tuesday it will spend more than $1 billion on converting research ideas into commercial hits as it looks to improve the economy with an election looming.

Prime Minister Scott Morrison said a new program called Australia’s Economic Accelerator would focus on commercializing research in six areas: defense, space, minerals, food, medical products, and clean energy.

“The key policy challenge surrounds the so-called ‘Valley of Death,’ where early stage research is frequently not progressed to later stages of development because of the risk and uncertainty about commercial returns,” Morrison said.

He said the new program would help bridge that gap by investing in programs with strong commercial potential. It will work in stages by providing lots of small grants initially and then fewer but more

valuable grants in subsequent rounds of funding. It is worth 1.6 billion Australian dollars ($1.1 billion) and is part of a larger 2.2 billion Australian dollar package.

Morrison was speaking at the National Press Club in Canberra, where he also reflected on the challenges he’s faced since winning the last election in 2019.

“The past three years have been some of the most extraordinary that our nation has ever experienced,” he said. “Younger generations have never known anything like it. The succession of natural disasters—from drought to flood, fires, pestilence, a once-in-a-century global pandemic, the recession it caused—has pushed our country to the very limits.”

He said his government had been too optimistic about the pandemic ahead of the Australian summer and then had to make “massive changes” when case numbers skyrocketed with the Omicron variant of coronavirus. AP

started to speak. “How long Russia will pressure, will pursue a clear attempt to push Ukraine and its partners into a Kafka trap?” Kyslytsva asked.

The vote on holding an open meeting passed 10-2, with Russia and China opposed, and India, Gabon and Kenya abstaining. Nine “yes” votes were needed for the meeting to go ahead.

The US and its allies had pressed to hold the meeting Monday, the last day of Norway’s rotating presidency of the council, before Russia takes over Tuesday for the month of February.

Any statement or resolution by the Security Council is extremely unlikely, given Russia’s veto power and its ties with others on the council, including China.

After all 15 council members spoke, the US and Russia sparred again, with Thomas-Greenfield saying she was “disappointed” in Nebenzia’s comments, stressing that Russian threats of aggression are “provocative.”

US President Joe Biden said in a statement that the meeting was “a critical step in rallying the world to speak out in one voice” to reject the use of force and seek military de-escalation.

At the start of a White House meeting with the ruling emir of Qatar, Biden said the US continues to engage in “nonstop diplomacy,” but “we are ready no matter what happens.”

The State Department on Monday ordered the departure of families of American diplomats in Belarus, where Russia is deploying troops, tanks and other materiel in what Moscow says is a military exercise.

Western officials fear Russia’s troop buildup could use Belarus as a jumping-off point to invade neighboring Ukraine, especially its capital, Kyiv, from the north.

Tens of thousands of other Russian troops already are staged elsewhere along Ukraine’s borders.

Belarus officials already have pushed most US Embassy staff out of the country, leaving fewer family members to be affected

by Monday’s order. The US has also drawn down its diplomatic presence in Ukraine.

Russian Foreign Minister Sergey Lavrov and US Secretary of State Antony Blinken are expected to speak by phone Tuesday, according to the Russian Foreign Ministry. A senior State Department official confirmed the Russian account.

British Prime Minister Boris Johnson will visit Ukraine on Tuesday for talks with President Volodymyr Zelenskyy, and will also speak with Russian President Vladimir Putin to urge him to “step back,” Johnson’s office said. Johnson says he is considering sending hundreds of British troops to Nato countries in the Baltic region as a show of strength.

Democrats and Republicans in the US Congress said Monday they were still divided over some of the timing in draft sanctions legislation against Russia. A Republican push to impose sanctions on a Russian natural gas pipeline to Germany, Nord Stream 2, even before any new Russian push into Ukraine was a main sticking point, lawmakers said. The Biden administration argues for waiting after any invasion, saying sanctioning Nord Stream now could alienate an ally, Germany, and remove the deterrence power of that sanctions threat.

On Sunday, the chairman of the Senate Foreign Relations Committee, Sen. Bob Menendez, said that in the event of an attack, lawmakers want Russia to face “the mother of all sanctions.” That includes actions against Russian banks that could severely undermine the Russian economy and increased lethal aid to Ukraine’s military.

White House press secretary Jen Psaki said Monday the administration was encouraged by the bipartisan effort in Congress “to hold Russia accountable.” The administration has previously expressed concern that preemptive sanctions could diminish their leverage on Russia, but the White House sounded warmer to the prospect as the Foreign Relations Committee moves to act.

“Our view is that sanctions can be an effective tool of deterrence, and the deepening sell-off in Russian markets reflects our message to Russia,” Psaki said. AP

FBI Director Christopher Wray speaks at a news conference at the Justice Department in Washington on November 8, 2021. Wray says the threat to the West from the Chinese government is “more brazen” and damaging than ever before. In a speech on January 31, at the Reagan Presidential Library in California, Wray accused Beijing of stealing American ideas and innovation and launching massive hacking operations. AP/Andrew Harni

FBI chief: Threat from China more brazen than ever before

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A S H I N G T O N —T h e t hreat to t he West from the Chinese government is “more brazen” and damaging than ever before, FBI Director Christopher Wray said Monday night in accusing Beijing of stealing American ideas and innovation and launching massive hacking operations.

The speech at the Ronald Reagan Presidential Library amounted to a stinging rebuke of the Chinese government just days before Beijing is set to occupy the global stage by hosting the Winter Olympics. It made clear that even as American foreign policy remains consumed

by Russia-Ukraine tensions, the US continues to regard China as its biggest threat to long-term economic security.

“When we tally up what we see in our investigations, over 2,000 of which are focused on the Chinese government trying to steal our information or technology, there’s just no country that presents a broader threat to our ideas, innovation, and economic security than China,” Wray said, according to a copy of the speech provided by the FBI. The bureau is opening new cases to counter Chinese intelligence operations every 12 hours or so, Wray said, with Chinese government hackers pilfering more personal and corporate data than all other countries combined.

“The harm from the Chinese government’s economic espionage isn’t just that its companies pull ahead based on illegally gotten technology. While they pull ahead, they push our companies and workers behind,” Wray said.

“That harm—company failures,

job losses—has been building for a decade to the crush we feel today.

It’s harm felt across the country, by workers in a whole range of industries.”

Chinese government officials have repeatedly rejected accusations from the US government, with the spokesman for the embassy in Washington saying last July that Americans have “made groundless attacks” and malicious smears about Chinese cyberattacks. The statement described China as a “staunch defender of cybersecurity.”

The threat from China is hardly new, but it has also not abated over the last decade.

“I’ve spoken a lot about this threat since I became director” in 2017, Wray said. “But I want to focus on it here tonight because it’s reached a new level—more brazen, more damaging, than ever before, and it’s vital—vital—that all of us focus on that threat together.”

The Justice Department in 2014 indicted five Chinese military officers on charges of hacking into major American corporations. One year later, the US and China announced a deal at the White House to not steal each other’s intellectual property or trade secrets for commercial gain.

In the years since, though, the US has continued to level accusations against China related to hacking and espionage. It’s charged Chinese hackers with targeting firms developing vaccines for the coronavirus and with launching a massive digital attack of Microsoft Exchange e-mail server software, and also blacklisted a broad array of Chinese companies. AP

Dozens arrested to suppress protests on Myanmar army’s 1st year in power

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ANGKOK—Security forces in Myanmar have arrested dozens of people in a preemptive move to suppress plans for a nationwide strike Tuesday on the one-year anniversary of the army’s seizure of power, state-run media reported.

Opponents of military rule in the country have called for a “Silent Strike” aimed at emptying the streets of Myanmar’s cities and towns by having people stay home and businesses shut their doors from 10 a.m. to 4 p.m. One of the planned follow-up protests then wants supporters to make noise by banging pots and pans, or honking horns.

The military’s takeover on Feb. 1, 2021 ousted the elected government of Aung San Suu Kyi, whose National League for Democracy party was about to begin a second five-year term in office after winning a landslide victory in the previous year’s November election.

At least 58 people have been arrested since last week after posting notices on Facebook that their shops and businesses would be closed on Tuesday, according to reports in the state-run Myanma Alinn Daily

newspaper.

The detainees from the cities of Yangon, Mandalay and Myawaddy include shopkeepers, restaurant owners, a doctor, a make-up artist, a mobile phone repair shop owner and an astrologer, Myanma Alinn Daily reported.

Their arrests followed official warnings that people participating in the strike could be arrested and put on trial, including for offenses under the Counter-Terrorism Law that carry maximum penalties of life imprisonment and the possible confiscation of their property.

The crackdown was confirmed by friends and family of some of the targets, including the SIP Café Club coffeeshop in Mandalay.

“The [Facebook] page announced it would be closed on February 1 by using the words ‘Silent Strike,’ and the cafe was confiscated,” one of its workers told The Associated Press on condition of anonymity because he feared reprisal from the authorities.

Two previous “Silent Strikes” last year, in March and on Human Rights Day in December, appeared to enjoy popular support despite

intimidation by the authorities, which in some cases did not allow participating shops to reopen until a week later.

The government’s warnings pose a dilemma for ethnic Chinese business owners because Tuesday falls during the celebration of Lunar New Year, when many would close their shops for the holiday.

Widespread nonviolent demonstrations followed the army’s takeover initially, but armed resistance began after protests were put down with lethal force. About 1,500 civilians have died but the government has been unable to suppress the insurgency.

President Joe Biden in a statement marking the anniversary called for the military to reverse its actions, free Suu Kyi and other detainees and engage in meaningful dialogue to return Myanmar on a path to democracy. The State Department also said it was working closely with the Association of Southeast Asian Nations, of which Myanmar is a member, to hold accountable those responsible for the takeover.

The head of the military govern-

ment, Senior Gen. Min Aung Hlaing, on Monday went through the formality of obtaining a six-month extension on a state of emergency allowing the State Administration Council, the body that assumed power in last year’s takeover, to continue running the country.

The extension was granted by the National Defense and Security Council, whose membership is made up of the top military chiefs and cooperative politicians, state television MRTV reported. The military government has already declared its intention to maintain a state of emergency until it holds a new election in August 2023.

As part of the process of applying for the extension, the State Administration Council, which exercises executive, legislative and some judicial powers, submitted a report about its work over the last 12 months to justify the extension.

The council declared that it had done its best to carry out its duties, but that threats from domestic and foreign “terrorists” remained and that it has more work to do before elections can be held. AP

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Second generation Omicron less likely to stop reinfection

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ew studies are emerging that suggest the latest version of the highly-infectious Omicron variant is transmitting even faster than the original, and mild cases of the first may not offer much protection against future infections.

The findings cast doubt on hopes that the wave of Omicron that’s sweeping the world may help hasten the end of the pandemic.

Calls for governments to treat Covid-19 as endemic like influenza are rising globally as people grow tired of pandemic restrictions, vaccines become more accessible and deaths remain relatively low.

The production of neutralizing antibodies during an Omicron infection appears related to the severity of the illness, according to one report from researchers at the University of California, San Francisco that was published online before being peer-reviewed.

The milder form of most Omicron cases in vaccinated people may leave those who recover from them still vulnerable to existing virus and future variants that emerge, the researchers said.

The protection from a natural infection was about one-third that obtained through a booster shot, the study found.

“Our results suggest that Omicron-induced immunity may not be sufficient to prevent infection from another, more pathogenic variant, should it emerge in the future,” the researchers said. “They also highlight the continued importance of vaccine boosters in enhancing immunity, as breakthrough infection alone may not be reliable” in protecting against repeat infections or future illness from new strains, they said.

More contagious

The second study found a second-generation form of Omicron appears even more transmissible than the original.

It showed 39 percent of people

infected with the BA.2 subvariant were likely to infect others in their households, compared with 29 percent of those who were carrying the original version. The study analyzed data gathered from 8,541 households in December and January in Denmark, where the new subvariant has become the dominant strain.

The risk of infection with either type was higher in those who were unvaccinated, underlining a positive effect of vaccination, the investigators said.

T he f ind ings bolster work from UK health authorities released last week that found the Om icron subva r i a nt appea rs even more contagious than the original fast-spreading strain.

That analysis also showed booster shots remain an effective shield, the UK Health Security Agency said on Friday.

While BA.1 is still the most dominant type worldwide, recent trends suggest BA.2 is increasing in some countries including India, South Africa, the UK and Denmark, the World Health Organization said last month.

Neither study has undergone a thorough review by outside experts that is common before new findings are formally published.

The Danish study was conducted by scientists at University of Copenhagen, Statistics Denmark, Technical University of Denmark and Statens Serum Institut. The other was led by Charles Chiu at University of California, San Francisco.

The Omicron subvariant appears to be more contagious but data so far doesn’t show it’s more dangerous or that it evades protection from vaccines, said Scott Gottlieb, the former commissioner of the US Food and Drug Administration. At worst, the strain could slow down the decline in Omicron infections in the US, he said on CBS’s “Face the Nation.”

Bloomberg News

African Union suspends Burkina Faso after military’s power grab

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UAGADOUGOU, Burkina Faso—The African Union has suspended Burkina Faso until constitutional order is restored in the West African country, the organization announced Monday in a tweet.

The suspension of Burkina Faso comes a week after mutinous soldiers ousted democratically elected President Roch Marc Christian Kabore in a coup, citing his inability to stem the violence from Islamic extremists.

The 15-nation West African group ECOWAS already had suspended Burkina Faso last week, making it the third nation in the regional bloc—after Mali and Guinea—to be punished for military takeovers in a year and a half. The suspensions mean the countries cannot participate in any meetings or decision-making, officials said.

While no sanctions have been imposed on Burkina Faso, a joint delegation with ECOWAS and the head of the United Nations Office for West Africa and the Sahel, Mahamat Saleh Annadif, arrived in the capital, Ouagadougou on Monday.

The mediators urged the militar y junta to prepare a transition to constitutional rule if they wanted to have international support, though a specific time period was not given, according to two officials who spoke on condition of anonymity due to the sensitivity of the matter.

A small group from the delegation also visited Kabore, the ousted president who hadn’t been seen or heard from since being detained last week by the junta, the officials said.

An ECOWAS summit is scheduled on Thursday in Ghana to discuss the situations in Burkina Faso and Mali, which is also under harsh economic and travel sanctions after its coup leader failed to organize an election within 18 months.

On Monday afternoon, Burkina Faso’s junta announced that the leader of the Patriotic Movement for Safeguarding and Restoration, Lt. Col. Paul Henr i Sandaogo Damiba, is the country’s new president. Reading an announcement on state television, Lt. Col. Cyprien Kabore, a spokesman for the junta, also said the head of the intelligence unit and the army’s chief of staff had been fired but didn’t say who was replacing them.

Talks with Damiba and ECOWAS began Saturday when a West African military delegation arrived.

The junta has said that Kabore has not adequately addressed extremist violence in Burkina Faso that has killed thousands and displaced more than 1.5 million people.

Speaking to the nation last week for the first since seizing power, Damiba said he would restore security and order and unite the country. He warned that the new regime would not tolerate betrayal. AP

Wednesday, February 2, 2022

A7

Biden issues infrastructure ‘roadmap’ to help spend $1T

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ASHINGTON—President Joe Biden urged US governors on Monday to ramp up their construction plans as his administration rolled out a guidebook for accessing the nearly $1 trillion made available by the bipartisan infrastructure deal.

Biden welcomed governors to the White House on Monday as part of the winter meeting of the National Governors Association, and he cajoled them on the importance of infrastructure.

“You know how to build roads and bridges,” the Democratic president told them. “Well, we got a hell of a lot to build.”

After the meeting, a pair of governors described infrastructure as a place for bipartisan cooperation and stressed that it was important for states to be able to spend money as they see fit.

“In terms of the infrastructure, the magic word from the governors is give us flexibility, hold us accountable, but we know how to invest in infrastructure and, trust us, and we want to pa r t ner w it h t he ad minist rat ion,” A rk a nsa s Gov. A sa Hutchinson, a Republican and chairman of the National Governors Association.

New Jersey Gov. Phil Murphy, a Democrat and the association’s vice chairman, said infrastructure was “probably the topic that came up the most, was discussed the most, and where we found an enormous amount of enthusiasm.”

Murphy added that he would “underscore” the significance of “flexibility ... in terms of how the monies can be spent. “ M it c h L a nd r ie u , a s e n ior W hite House adv iser who is supervising the infrastructure spending, said the goal of the 461-page book is to ensure that all communities have the details on how to qualify for funding, no matter their size or politics.

“It’s an absolute road map,” said Landrieu, a former mayor of New Orleans.

The book is meant to level the playing field by making it easier for smaller cities, tribal leaders, nonprofits and faith-based groups to compete for money that

President Joe Biden speaks during a meeting with the National Governors Association in the East Room of the White House on January 31, 2022, in Washington. AP/Alex Brandon

usually only lobbyists know how to access. The infrastructure deal is unique in its scope as it goes beyond roads and bridges to include such initiatives as broadband Internet, replacement of lead water pipes and resilience against climate change.

Administration officials assembled the guidebook quickly as the infrastructure package became law on November 15. Copies are available online at build. gov, though the administration is working with associations and direct contacts to make sure it reaches government officials in communities of all sizes. Landrieu said he has already spoken with 43 governors and more than 250 mayors as part of the push.

The infrastructure package

includes 375 distinct programs, of which 125 are new. And while the guidebook is more than twice the size of the F. Scott Fitzgerald novel “The Great Gatsby,” it’s considerably shorter and easier to navigate than the infrastructure law, which stretched for more than 1,000 pages.

About 60 percent of the funds are available through formula and 40 percent through competitive applications. Not all the infrastructure money is able to go out as the federal government is operating on a continuing resolution that runs through February 18, instead of an annual budget.

Still, not all of the money will go out immediately as the programs are generally operating on a fiveto seven-year timeline. AP

Toyota apologizes for suicide after overwork, harassment

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OKYO—Toyota has settled a lawsuit that blamed overwork and harassment for the suicide of one of its employees.

Toyota Motor Corp. President A kio Toyoda has apologized to the family, the Japanese automaker said Tuesday. Monetar y details of the settlement were not disclosed. The lawsuit filed b y t he w or k e r ’s f a m i l y h a d sought 123 million yen ($1.1 million) in damages, Japanese media reports said.

The wife told reporters she felt her husband, then 40, would have understood and she believes Toyota has the opportunity to change for the better.

Toyota promised an investigation into the case to prevent a recurrence and apologized for the family’s suffering.

“We are now trying to create a more transparent workplace environment that makes it easier for people to speak up, as well as a management that’s free of power

harassment, so that each and every employee can work without fear,” it said in a statement.

Deaths from overwork and on-the-job stress, including suicides, are a common problem in workaholic Japan. Troubles with abusive bosses also have been gaining attention.

The Nagoya High Court ruled in September the employee’s death was work-related, noting he suffered severe stress at work before his suicide in 2010.

Toyota, based in Toyota city, near Nagoya, had initially contested the allegations.

In 2019, Toyota acknowledged a 2017 suicide of a 28-year-old engineer was caused by constant ridicule from his boss.

Japanese people are reputed to be extremely loyal to their companies, often sacrificing their personal well being and putting in enormous amounts of overtime, while taking pride in being part of a company. AP

Canada’s Trudeau tests positive for Covid, rips anti-jab protests

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ORONTO—Prime Minister Justin Trudeau announced Monday he has tested positive for Covid-19 but is “feeling fine” and will continue to work remotely from home.

Trudeau said two of his children have Covid-19 and a test Monday revealed he has been infected as well.

The prime minister, who has received two vaccine shots and a booster shot, used a televised virtual news conference to denounce anti-vaccine protesters who filled Canada’s capital to complain about Covid restrictions.

“Canadians were shocked and quite frankly disgusted by the behavior displayed by some people in our nation’s capital,” Trudeau said.

“I want to be clear. We are not intimated by those who hurl insults and abuse at small businesses and steal from the homeless. We won’t give in to those who fly racist flags. We won’t cave to those who engage in vandalism or dishonor the memory of our veterans.”

Some demonstrators travelled in truck convoys and parked on the streets around Parliament Hill, blocking traffic—and a smaller but significant number remained

Canadian Prime Minister Justin Trudeau speaks with the media during his first availability after announcing he has Covid-19 at a location in the National Capital Region on January 31, 2022. Trudeau announced Monday he has tested positive for Covid-19 but is “feeling fine” and will continue to work remotely from home. Adrian Wyld/The Canadian Press via AP

on Monday.

Many Canadians were outraged by images over the weekend of some protesters urinating on the National War Memorial and dancing on the Tomb of the Unknown Soldier, while a number carried signs and flags with swastikas.

Many refused to wear masks in hotels, malls and grocery stores and one homeless shelter reported protesters had demanded it feed

them.

Canada has one of the world’s highest rates of vaccination against the coronavirus—shots that are primarily designed to keep those who become infected from falling seriously ill.

Protest organizers have called for the elimination of all Covid-19 restrictions and vaccine mandates and for the removal of Trudeau, though he is responsible for very

few of the restrictions, most of which were put in place by provincial governments.

The Ottawa police department has said it is investigating possible criminal charges over some actions during the protests.

“To those responsible for this behavior, it needs to stop. To anyone who joined the convoy but is rightly uncomfortable with the symbol of hatred and division on display, join with your fellow Canadians, be courageous and speak out. Do not stand for or with intolerance and hate,” Trudeau said.

Some were protesting a rule that took effect January 15 requiring truckers entering Canada to be fully immunized against the coronavirus. The United States has imposed the same requirement on truckers entering that country so Canada removing it would make little difference.

Some opposition Conservative lawmakers served coffee to the protesters and Conservative party leader Erin O’Toole met with some protesting truckers. The demonstration also attracted support from former US President Donald Trump. AP

A8 Wednesday, February 2, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Farmers need support amid high input prices

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lants require essential elements for growth. Many of these essential nutrients can be found in the soil, but often in insufficient quantities to sustain high crop yields. Plants need 13 essential minerals and if any of them is lacking, plant growth and yield will suffer.

The Fertilizer and Pesticide Authority, an attached agency of the Department of Agriculture (DA), said fertilizer plays an important role in the country’s farm sector due to its significant contribution in increasing crop productivity. Fertilizer is needed to produce more food from land resources to feed a population that grows at an estimated pace of 2 percent per year. It is one of the important elements in the country’s bid to achieve food security.

However, the Philippines is heavily dependent on foreign markets for its fertilizer requirements (See “Dar plans to import fertilizer amid commodity price hike,” in the BusinessMirror, August 5, 2021). The DA pegged the country’s annual requirement for various fertilizer grades at 2.6 million metric tons (MMT). The Philippines imports 95 percent of its fertilizer requirements, which make it vulnerable to conditions that can affect output and prices.

One of the developments that could hurt the Philippines is the spike in international oil prices. As fertilizer is a byproduct of oil, increases in crude oil prices would put pressure on domestic fertilizer prices. The reopening of rich countries resulted in increased demand for oil, and the export bans put in place by international fertilizer producers caused prices of imported fertilizers to shoot up.

Local farmers have warned that if fertilizer prices will continue to rise, they will have to rethink their planting intentions (See, “Sugar planters to govt: Freeze fertilizer prices,” in the BusinessMirror, January 31, 2022). The agriculture sector’s performance would surely take a hit if farmers decide to stop planting crops altogether because of the surge in production cost. Consumers would also have to bear the brunt of higher food prices because the increase in production cost would be passed on to them.

The government has put in place a fertilizer subsidy program, which it expanded to assist planters who can no longer afford the farm input (See “DA moves to expand fertilizer subsidy program for farmers,” in the BusinessMirror, November 2, 2021).

Unfortunately, the prices of some fertilizer grades have nearly tripled and there is no indication that this will go down any time soon. This development does not bode well for our sugar and rice planters, who are mostly smallholders and cannot afford to pay for more expensive fuel and fertilizer.

We hope that the national government will find a way to further expand the subsidy program to help smallholders cope with the spike in the cost of agricultural inputs and the price of fuel. The government can ill afford to shrug off these problems that could threaten the country’s food security. We need to help our farmers cope with the spiraling prices of fertilizers and other farm inputs if we want to guarantee the availability of food to our growing population.

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Aurora C. Ignacio

All About Social Security

I

N December 2021, we saw the steady decline in the number of Covid-19 cases in the country and we started to become hopeful that the coming year 2022 would bring us all a semblance of normalcy. Vaccinated and boostered, some of us may have already made decisions to push through with our travels plans, which were put on hold due to the pandemic and the lockdowns.

It came as a shock when the recent news of the surge in Covid-19 cases greeted the country on the first week of January. The numbers we saw were higher than what the Delta variant has brought upon us, and this new Omicron variant is causing most of us to panic as almost all of our friends and families are getting sick at a very alarming rate.

As what SSS had done in the past couple of years, it continues to bring its members, pensioners, and stakeholders its services despite the limitations afforded by the different alert levels imposed in the country.

To protect its members and employees alike, SSS is currently implementing its health and safety protocols.

First, we are encouraging our members and employers to observe the Branch Number Coding System with the following prescribed schedule based on the last digit of their SS numbers: n Mondays for SS or ER ID number ending in 1 and 2, n Tuesdays for those ending in 3 and 4, n Wednesdays for those ending

in 5 and 6, n Thursdays for those ending in 7 and 8, and n Fridays for those ending in 9 and 0.

Second, we are making sure that the transacting members and visitors always wear their face masks.

SSS employees manning the frontline counters also regularly wear medical face masks for the mutual protection of co-employees and the transacting public. For those who feel safer by wearing face shields, they may also do so for added protection.

Third, temperature check is required before entry to SSS offices.

Those with temperatures of 38 degrees Celsius and above will be advised to return home and transact through drop box/online/mobile service channels.

Fourth, our visitors are being asked to accomplish complete the Contact Tracing Form Slip. All transacting members/visitors are required to accomplish a Heath Declaration Slip upon entry for the purpose of contact tracing as required by the Department of Health.

Fifth, everyone is always being

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We enjoin our members, pensioners, and other stakeholders to maximize the usage of our online services for faster, simpler, and easier way to transact business as well as to lessen faceto-face interactions. Members may access their SSS information including contributions, loans, status of benefit claims, register accounts for Disbursement Account Enrollment Module, and generate Payment Reference Number for contributions and loans.

reminded to maintain and observe social distancing. Transacting members and employers are advised to maintain a distance of 1 meter apart within SSS premises. Our security officers are always around to remind and check if everybody is following this protocol.

Sixth, we also practice frequent sanitation. In these current times, we should always bring an alcoholbased sanitizer whenever we leave the house and use it especially after touching door handles, tables, and other surfaces. The SSS toilet facilities also provide hand soaps and alcohol for the use of the transacting members.

Moreover, we enjoin our members, pensioners, and other stakeholders to maximize the usage of our online services for faster, simpler, and easier way to transact business as well as to lessen faceto-face interactions. Members may access their SSS information including contributions, loans, status of benefit claims, register accounts for Disbursement Account Enrollment Module, and generate Payment Ref-

erence Number (PRN) for contributions and loans.

They can also submit Maternity Notifications (for individual members) and submit benefit applications such as Maternity, Sickness, Funeral, Retirement, and loan privileges such as Salary Loan, Calamity Loan, and renewal of Pension Loan, among others.

Employers may also submit their Contribution Collection List (R3), Employment Reports, Loan Collection Lists, Sickness Benefit Reimbursement and Maternity Benefit Reimbursement Application, and certify their employees’ Retirement Benefit and Salary Loan Applications.

The SSS online channels are as follows: My.SSS Portal at www.sss.gov. ph, SSS Mobile App, and uSSSap Tayo portal at https://crms.sss.gov.ph. Currently, there are over 30 member services and nearly 20 employer services available in the My.SSS Portal, with some services accessible through the SSS Mobile App. We are still in a continuous battle as the pandemic’s end is not yet in sight. But what’s important is we stay focused on our goals, have a positive outlook in life, and keep ourselves and our loved ones healthy. Whatever alert level may be imposed by the national government, members are assured that conducting their transactions online is the fastest, simplest, and easiest way to do business with the SSS, 24/7 at the comfort of their homes or offices.

I wish you all a healthy and productive week! Keep safe, everyone.

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Bar exams in the time of Covid-19 pandemic

Ruben M. Cruz Jr.

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Observing basic safety protocols in SSS branches

Kuwentong Peyups

P

rayers will not save you in the bar exams.

“Do not write a mantra, motto, prayer to deities or saints, special plea addressed to the examiner or the Bar Chairperson, or any other such extraneous text,” said Supreme Court Associate Justice Marvic Leonen, the Bar exam chairperson.

Leonen stressed that leaving or making any distinguishing mark in any submitted answer is classified as cheating and can disqualify the examinee from the Bar Examinations.

In reality, many aspiring lawyers

become more religious during this time, praying hard that they will see their names on the list of successful examinees.

Due to the onset of Covid-19 pandemic, the bar examinees for this coming bar have reviewed for longer

The bar exam is considered one of the toughest and most difficult among the professional board exams, having one of the highest mortality rates.

than all the other batches taking the bar exams under very difficult conditions.

Finally, they will take the 20202021 bar exams on February 4 and February 6 after being postponed several times. It was first postponed from November 2020 to November 2021.

The duration of the 2020-2021 Bar examinations is also shortened from the traditional four consecutive Sundays to only two days.

Previous bar exams were held for four Sundays with two subjects each at the University of Santo To-

mas as the venue.

The coverage of the exams is also now reduced to four sets of examinations from the usual eight subjects.

The four sets are the following: (1) Law Pertaining to the State and Its Relationship with Its Citizens (formerly Political Law, Labor Law, and Taxation Law); (2) Criminal Law; (3) Law Pertaining to Private Personal and Commercial Relations (formerly Civil Law and Commercial Law); and (4) Procedure and Professional Ethics (formerly Remedial Law, Legal Ethics, and Practical Exercises).

For the first time, the exam will be held in multiple sites.

“These changes seek to meet the demand for new lawyers amid the disasters plaguing the country. The Philippines has produced no new lawyer since the pandemic. But while See “Gorecho,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Uyghur gets death sentence, as China bans once OK’d books

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The Year of the Water Tiger will be an auspicious year Dr. Jesus Lim Arranza

MAKE SENSE

By Huizhong Wu | Associated Press

AIPEI, Taiwan—As the Chinese government tightened its grip over its ethnic Uyghur population, it sentenced one man to death and three others to life in prison last year for textbooks drawn in part from historical resistance movements that had once been sanctioned by the ruling Communist Party.

An AP review of images and stories presented as problematic in a state media documentary, and interviews with people involved in editing the textbooks, found they were rooted in previously accepted narratives — two drawings are based on a 1940s movement praised by Mao Zedong, who founded the communist state in 1949.

Now, as the party’s imperatives have changed, it has partially reinterpreted them with devastating consequences for individuals, while also depriving students of ready access to a part of their heritage.

It is a less publicized chapter in a wide-ranging crackdown on Uyghurs and other largely Muslim groups, which has prompted the US and others to stage a diplomatic boycott of the Beijing Olympics that open Friday.

Foreign experts, governments and media have documented the detention of an estimated 1 million or more people, the demolition of mosques and forced sterilization and abortion.

The Chinese government denies human rights violations and says it has taken steps to eliminate separatism and extremism in its western Xinjiang region.

The attack on textbooks and the officials responsible for them shows how far the Communist Party is going to control and reshape the Uyghur community. It comes as President Xi Jinping, in the name of ethnic unity, pushes a more assimilationist policy on Tibetans, Mongolians and other ethnic groups that scales back bilingual education. Scholars and activists fear the disappearance of Uyghur cultural history, handed down in stories of heroes and villains across generations.

“There’s much more intense policing of Uyghur historic narratives now,” said David Brophy, a historian of Uyghur nationalism at the University of Sydney. “The goalposts have shifted, and rather than this being seen as a site of negotiation and tension, now it’s treated as separatist propaganda.”

Sattar Sawut, a Uyghur official who headed the Xinjiang Education Department, was sentenced to death, a court announced last April, saying he led a separatist group to create textbooks filled with ethnic hatred, violence and religious extremism that caused people to carry out violent acts in ethnic clashes in 2009.

He may not be executed, as such death sentences are often commuted to life in prison after two years with good behavior.

Details about the textbooks were then presented in a documentary by CGTN, the overseas arm of state broadcaster CCTV, on what it called hidden threats in Xinjiang in a 10-minute segment. It included what amounted to on-camera confessions

by Sawut and another former education official, Alimjan Memtimin, who got a life sentence.

The Xinjiang government and CGTN did not respond to written questions about the material.

Drawings from the textbooks are presented as evidence Sawut led others to incite hatred between Uyghurs and China’s majority Han population.

In one, a man points a pistol at another. The image is flashed over an on-camera statement by Memtimin, who says they wanted to “incite ethnic hatred and such thoughts.”

But both men in the drawing are Uyghurs. One, named Gheni Batur, holds up a gun to a traitor who had been sent to assassinate him. Batur was seen as a “people’s hero” in a 1940s uprising against China’s then-ruling Nationalist Party over its repression and discrimination against ethnic groups, said Nabijan Tursun, a Uyghur American historian and a senior editor at Radio Free Asia.

The Communists toppled the Nationalists and took power in 1949.

Mao invited then-Uyghur leader Ehmetjan Qasimi to the first meeting of a national advisory body and said, “Your years of struggle are a part of our entire Chinese nation’s democratic revolution movement.”

However, Qasimi died in a plane crash en route to the meeting.

Despite Mao’s approval, this period of history has always been debated

by Chinese academics, Brophy said, and the a¡ttitude has shifted more and more toward hostility.

Another element in the story came to the fore after a series of knifings and bombings in 2013-14 by Uyghur extremists, who were angered by harsh treatment by the authorities.

The Uyghur movement had briefly carved out a nominally independent state, the second East Turkestan Republic, in northern Xinjiang in 1944.

It had the backing of the Soviet Union, which had real control.

A recently leaked 2017 document, one of a trove given to an unofficial Uyghur Tribunal in Britain last September, shows that a Communist Party working group dealing with Xinjiang criticized elements of the uprising.

“The Three District Revolution is a part of our people’s democratic revolution, but there were serious mistakes made in the early stages,” the notice said.

Blaming interference by the Soviet Union, it said that ethnic separatists infiltrated the revolutionary ranks and “stole the right to lead, established a splitting regime, ... and committed the grave mistake of ethnic division.”

The document still said that Qasimi should be respected for his role in history.

The CGTN documentary, though, singles out a photo of Qasimi wearing a medal that was the symbol of the second East Turkestan Republic. “It shouldn’t appear in this textbook at all,” Shehide Yusup, an art editor at Xinjiang Education Publishing House, said in the documentary.

Another textbook illustration, drawn from the same period, shows what appears to be Nationalist solider pointing a knife at a Uyghur rebel sprawled on the ground.

Both stories come from novels by Uyghur writers published by government publishing houses. One of the writers, Zordun Sabir, is a member of the state-backed Chinese Writer’s Association. The textbooks themselves were published only after high-level approval, said Kündüz, a former editor at the Xinjiang University newspaper who uses only one name.

When the textbooks were reviewed in 2001, the Uyghur stories hardly got any attention, said Abduweli Ayup, a Uyghur linguist who as a then-graduate student translated some of the stories into Chinese for the review.

Stories that portrayed the Nationalists as the enemy were not considered controversial. Instead, the Uyghur editors worried about foreign stories, said Ayup, an activist who now lives in Norway, such as a line from a Tolstoy story and a Hungarian poem.

Another story cited by CGTN goes back to the Qing Dynasty, which ruled China until 1912. Yusup, the art editor tells CGTN: “This is the legend of seven heroic Uyghur girls.

It’s all fabricated. Han Chinese soldiers trapped them at a cliff and they jumped to their death to defend their homeland. It’s meant to incite ethnic hatred.”

But the soldiers were not Han, they were ethnic Manchu who founded the Qing Dynasty in 1644. The text of the story visible in the CGTN documentary says so, reading in part, “The Manchu soldiers started to climb Mount Möljer from all sides. Maysikhan [a leader of the Uyghur girls] saw the Manchus clambering up the mountain and told the girls to roll rocks down at them.”

Wednesday, February 2, 2022 A9

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he Lunar New Year on February 1 is the most important annual holiday in China and among all the Chinese people in many countries of the world. Each year is named after one of 12 signs of the Chinese zodiac in a continuous cycle. This Lunar New Year ushers in the Year of the Tiger, specifically, the Water Tiger.

The tiger is considered the king of all animals in Chinese mythology. As a zodiac sign, it symbolizes strength, power, courage, confidence and leadership.

This will be the third Chinese New Year in a row celebrated in the shadow of the Covid-19 pandemic. The Year of the Water Tiger, however, promises a welcome change from 2020 and 2021, as the tiger is known to be an

animal that expels evil.

The Tiger is associated with the Yang energy, which can be described as fast-moving, loud, active, and brightly lit. Other descriptive qualities include visible and energetic. A trading floor on Wall Street is a good example of a space that’s very yang.

Many people see the Year of the Water Tiger as an auspicious year that will bring about major changes. This

As we celebrate the Chinese New Year amid the various pandemictriggered challenges, let us all pray for the God of Door’s blessings, that new doors of opportunities will open for all of us in these most challenging times.

will be a year of risk-taking and adventure. Everyone is fired up, generosity is seen all around, and economic and social progress is expected.

As Chairman of the Federation of Philippine Industries (FPI) and a son of one the early Chinese immigrants to the Philippines, I would like to express my warmest KUNG HEI FAT CHOI greetings to the country’s Chinese community, particularly to the officers and members of the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), whose efforts to help facilitate the nation’s economic recovery from the pandemic-triggered recession must

be commended. The FFCCCII plays an important role in the country’s economic recovery efforts.

We saw FFCCCII’s commitment and determination to help in the Philippine economy when both our organizations closely collaborated in the past, particularly when we launched the “Buy Pinoy, Buy Local” campaign. And for that, we are grateful to FFCCCII President Dr. Henry Lim Bon Liong’s trust in FPI where I sit as its Chairman.

Thus, as we celebrate the Chinese New Year amid the various pandemic-triggered challenges, let us all pray for the God of Door’s blessings, that new doors of opportunities will open for all of us in these most challenging times.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Celebrations for Year of the Tiger are muted, but bring hope

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By David Rising & Ken Moritsugu | The Associated Press

EIJING—People across Asia prepared Monday for muted Lunar New Year celebrations amid concerns over the coronavirus and virulent Omicron variant, even as increasing vaccination rates raised hopes that the Year of the Tiger might bring life back closer to normal.

The Lunar New Year is the most important annual holiday in China and falls on Tuesday, February 1.

Each year is named after one of twelve signs of the Chinese zodiac in a repeating cycle. The Year of the Tiger follows the Year of the Ox. This will be the third new year in a row celebrated in the shadow of the pandemic. It was two days before the holiday in 2020 that China locked down Wuhan—a city of 11 million people—following the detection of the coronavirus there.

Some 85percent of Chinese are now fully vaccinated, according to Our World in Data, and more Chinese have been traveling domestically this year, despite government warnings.

Many people prepare to celebrate by buying red lanterns and other decorations for their homes, and food to mark the beginning of a new year.

Still, 63-year-old retiree Huang Ping lamented as he shopped at a Beijing flower market that the new year’s “atmosphere has faded” with the closure of temples and seasonal fairs to prevent large crowds. He said he hoped for better times soon.

“I wish for the epidemic to pass as early as possible and for the economy to recover as well,” he said.

Another retiree, Han Guiha, said he was planning on making the best of the situation.

“I’ll stay at home enjoying good food and wine,” the 62-year-old said.

“I will make my house clean and beautiful. Right now the virus is spreading and we need to be careful.”

Some 260 million people traveled in China in the first 10 days of the

Gorecho. . .

continued from A8

the bar examinations may no longer be postponed, it can be held in a way that is more humane. With these changes, the Court strikes that balance,” the SC said.

All examinees were advised to strictly undergo quarantine.

With excitement and trepidation, we pursued the dream of becoming lawyers.

Traversing the path of legal education was hard to the exponential power.

We immersed ourselves in law books and cases, faced terror professors, pore through volumes and pages of SCRAs, lined up for photocopying at the law library, hurried through classes, reviewed and crammed through lessons, and survived recitations.

Encounters with law professors during the dreaded recitations in-

holiday rush starting January 17— fewer than before the pandemic but up 46 percent over last year. Overall, the government forecasts 1.2 billion trips during the holiday season, up 36 percent from a year ago.

This year the celebrations coincide with the Beijing Winter Olympics, which open near the end of the weeklong holiday. The Chinese capital has been tightening controls to contain coronavirus outbreaks ahead of the sporting event.

The Games are being held inside sealed-off “bubbles,” and organizers have announced that no tickets will be sold to the general public and only selected spectators will be allowed.

“I’ll watch the games with my kid, but of course on TV,” said Wang Zhuo, a retail manager from Beijing.

In Hong Kong, which saw a surge in cases in January, people wore surgical masks as they shopped for red and tiger-themed holiday items. The city has closed schools because of the outbreaks and required restaurants to close at 6 p.m., forcing many to dine at home for traditional New Year’s Eve family dinners.

With the Year of the Tiger, many are hoping the traditional powers attributed to the animal will help put the country on a path out of the pandemic, said Chen Lianshan, a Beijing university expert on Chinese folklore.

“The tiger is a protection against evil spirits and it can defeat demons and ghosts of all kinds, and the Chinese believe that the plague is one kind of an evil spirit,” he said.

Elsewhere in Asia, there were volved answers that range from direct lifting from the SCRAs “in the original,” for those who studied, to inventions through guess work for those who didn’t.

Despite the torture, most of the memorable moments in law school were funny blunders during class recitations.

Passing the bar exam is obviously not that easy and seems to be the crowning glory of a student’s life.

The bar exam is considered one of the toughest and most difficult among the professional board exams, having one of the highest mortality rate.

Passing is obviously not that easy.

The discipline in terms of time management and patience is crucial during the review period.

It is also a yearly spectacle on the performance of law schools measured on the most number of topnotchers or those scoring the highest passing rate.

I belong to the working student

Some 260 million people traveled in China in the first 10 days of the holiday rush starting January 17—fewer than before the pandemic but up 46 percent over last year. Overall, the government forecasts 1.2 billion trips during the holiday season, up 36 percent from a year ago. signs that celebrations might not be as subdued as they were last year. Despite ongoing pandemic restrictions, most people are now vaccinated with at least two shots in many of the region’s countries.

In the old quarter of Hanoi, people flocked on the weekend to the traditional market to get decorations and flowers for the festival, known as Tet in Vietnam.

Vietnam’s daily case count remains at about 15,000 new infections but its low hospitalization and death rate has allowed the country to reopen for business and cautiously resume social activities.

More than 70 percent of Vietnamese are fully vaccinated, and 80 percent have had at least one shot, according to Our World in Data.

Still, the country has cancelled Tet fireworks and other large events to minimize risks this year.

In Thailand, where 69 percent of people are fully vaccinated, Bangkok decided this year not to hold traditional Lunar New Year celebrations in Chinatown for the second year in a row, but was going ahead with lighting seasonal lanterns on the district’s main street.

In Singapore, Lunar New Year celebrations are more subdued due to coronavirus restrictions that allow residents to receive only five unique visitors a day, and preferably only one visit daily. The rules are likely to get in the way of the tradition of visiting relatives during the holiday. program of UP Law as a reporter for the TODAY broadsheet and other international news agencies. I do my coverage during the day then attend my evening classes. I read my cases in the bus on the way home to Las Piñas from Diliman, always looking for the seat with the strongest overhead light.

I was among the lucky 1,465 examinees who passed, or 39.63 percent out of the 3,697 examinees of the 1998 bar exams, which is considered one of the highest in the bar exam history. One has to gain an average of 75 percent with no subject falling below 50 percent to pass.

I failed in my Political law but my final grade was pulled up by my score in Remedial law, which was my highest.

I often jokingly tell people that Florin Hilbay topped the 1999 bar because of the reviewers that he borrowed from me as his bar exam buddy. He later became the Solicitor General. Ultimately, being

“This year it will be rather quiet, as people are spacing out visiting over the next two weeks instead of on the first or second day of the new year,” said Sebastian Lim, a Singapore resident.

Business was brisk at a flower market in the Taiwanese capital of Taipei on Monday as people made last minute purchases. Some 73 percent of Taiwanese are fully vaccinated.

“The pandemic is surely affecting it a bit, but people still like flowers, so they come out and buy flowers,” said one shopkeeper, who only gave his name as Lee. “But prices are lower because we have overproduction and we can’t export some items—this is our biggest problem.”

Ethnic Chinese shopkeepers in Myanmar face a bigger dilemma, as the new year coincides with the oneyear anniversary of the military’s seizure of power from the democratically-elected government.

Supporters of the growing antimilitary movement have called for people to close their shops and businesses in a nationwide “silent strike” protest. Military leaders have warned that anyone who participates could face legal action, including charges of violating the country’s counterterrorism law.

But that has left shopkeepers who had planned to close anyway for the Lunar New Year to spend time with their families wondering what to do.

“Normally we are closed during Chinese New Year, but don’t know what to do this year,” said Hu, a noodle vendor in Yangon who wouldn’t give his full name out of fear of reprisal. “We want to close, but we have to be afraid of the authorities.” Rising reported from Bangkok. AP journalists Wayne Zhang in Beijing, Taijing Wu in Taipei, Hau Dinh in Hanoi, Zen Soo in Singapore, and Chalida Ekvitthayavechnukul in Bangkok contributed to this story.

a good lawyer is another thing. Passing the bar is not enough.

There were those who joined law offices for private practice, the government, judiciary, politics, and the academe, while others went into alternative lawyering.

Lawyers, as professionals, are expected to uphold the ethical and moral values that are said to be essential to the fabric that holds society together.

“Serve the people. Do not betray your humanity,” said Leonen, who was also my UP Law professor. “Discover your passion. Be patient and compassionate.”

Passion for the law is dedication to do what is right.

Good luck to the 2020-2021 bar examinees.

Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez. com, or call 0917-5025808 or 0908-8665786.

A10 Wednesday, February 2, 2022

DA extends anew validity of SPS-ICs of meat imports

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) has extended anew to 90 days the validity of sanitary and phytosanitary import clearance (SPS-IC) for meat imports as shipments are still delayed by global logistics problems.

Agriculture Secretary William D. Dar issued Administrative Order (AO) 02 to extend the validity of SPS-ICs for meat imports from 60 days to 90 days to alleviate shipping concerns by importers.

“The current Covid situation globally has resulted in supply

chain issues and logistical difficulties,” Dar explained in the AO 2 issued recently.

“Meat importation contributes to the overall food supply and security of the country,” Dar added.

Dar issued a similar AO last year in response to the logis-

tical problems experienced by meat importers. However, last year’s AO has already expired “even though the current difficulties remain,” according to the DA. The extended validity of SPS-ICs for imported meat products will be effective until the end of the year, according to AO 02.

The BusinessMirror broke the story last year that meat importers count among the sectors hardest hit by the global shipping and logistical problems that arose from Covid-19 pandemic.

The Meat Importers and Traders Association (Mita) last year urged the government to extend the SPS-ICs for meat imports by 30 days to ensure the arrival of the meat supply.

Mita explained that shipping schedules last year were in “disarray” as result of Covid19-related mobility restrictions, container imbalance and lack of vessels.

T he g roup a rg ue d t h at an extension of validity for SPS-ICs is meant “to account

for delayed sailings” while the proposed extension of the MAVICs’ validity is “to account for delayed arrivals.”

The importers face additional costs should the two documents go beyond their validity dates, which could be passed on the value chain—with consumers ultimately paying for it.

An expiration of the documents, despite the availability of the imported goods, would mean additional “delay and unnecessary workload” for the DA since importers will have to apply for new ones.

Driven by higher pork imports, the country’s meat imports from January to November last year expanded by more than 30 percent to a record level of nearly 1.1 million metric tons (MMT), based on government data.

Data released by the Bureau of Animal Industry (BAI) showed that overall meat imports during the 11-month period reached 1.09 MMT, 32 percent higher than the 825,000 MT recorded in the same period of 2020.

PCCI ASKS GOVT: OFFER FREE COVID TEST KITS T HE Philippine Chamber of Commerce and Industry (PCCI) has asked the government to provide free Covid-19 antigen test kits to the public to curb the spread of the virus amid the recent easing of quarantine measures.

In a statement on Tuesday, PCCI President George T. Barcelon stressed the importance of making such test kits available in drugstores and local barangays as the economy reopens.

The suggested retail price for antigen tests is P960.

“While our primary goal is to vaccinate majority if not all Filipinos, it is equally important that rapid antigen test kits are made available and affordable up to the grassroots level to curb the spread of Covid-19,” he said.

Noting the shortage in the antigen test kit supplies, Barcelon advised the government to ramp up its procurement elsewhere to address the demand.

He said doing so can “bolster confidence in opening up the economy,” which can bode well especially for the micro, small and medium enterprises.

Meanwhile, the PCCI official welcomed the government’s continuing vaccination rollout and implementation of Alert Level System instead of lockdown measures as this will allow the economy to move towards recovery.

“PCCI sees these as the result of a

better balance between meeting the exigencies of economic concerns and the health requirements of Covid-19 response,” he added.

In an earlier interview with the BusinessMirror, Barcelon said that businesses are cautious following the Covid-19 surge last month—which has shown a slowdown recently—but highlighted their optimism.

He explained that the economy, prior to the surge due to the Omicron variant, has been showing signs of improvement, noting that the concerns in the last six months were mostly due to supply chains, citing the shortage of some production input.

“But in general, this is a national election year. And you have to extrapolate the additional campaign spending that will boost up the economy,” he added.

Still, businesses need to watch out for the developments with the shipping delays as the Omicron surge may likely close up borders, said Barcelon.

“I hope, gradually, the shipment will not be as constrained as before.

I cannot tell you when. It will depend on the economy,” he said.

Metro Manila, along with Cavite, Bulacan, Rizal, Batanes, Biliran, Southern Leyte and Basilan, is under more relaxed Alert Level 2 (previously Alert Level 3) from February 1-15.

Tyrone Jasper C. Piad

Companies

Editor: Jennifer A. Ng

Wednesday, February 2, 2022

B1

COL: PSEi may reach 8,400 Royal Mandaya Hotel reopens on decline in Covid cases

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By VG Cabuag

@villygc

he benchmark Philippine Stock Exchange index (PSEi) may rise by about 20 percent to 8,400 points at the end of this year, from the current 7,300-point level, as the country's pandemic situation is improving.

COL Financial Inc. Chief Equity Strategist April Lynn Tan said investors’ cautious views have already been priced in the market.

COL’s target for the PSEi can be achieved if Covid-19 becomes endemic, the May elections will be peaceful and credible, inflation is transitory and if investors will shrug off higher interest rates.

Tan said the pandemic seems to be winding down as more people are getting vaccinated, the omicron variant is “less severe” and the surges did

not last as long as the previous ones.

She also noted that new medicines for the treatment of Covid-19 are also cheaper and more readily available.

Meanwhile, Tan said the stock market, since the 1992 elections, had always performed well prior to, and after, the presidential elections.

“It is easier to be bearish than to be bullish today given the numerous threats facing the economy and the stock market. However, we remain bullish as the threats are already

priced in and may not be as bad as they seem,” Tan said in a market briefing.

The rising inflation rate is also seen to be transitory and should ease as the reopening of more economies will address supply chain issues while the strong demand for goods may not be sustained.

Tan said historical data also shows that the stock market goes up despite higher interest rates. This view is bolstered by the belief that the United States Federal Reserve rates will increase but will stay accommodative.

Also seen to boost the local market is the government’s higher spending budget for 2022, up 11 percent to P5.02 trillion from the previous year, as well as the passage of laws that will encourage foreign direct investments. The lifting of the ban on open pit mining is also seen to be positive for investments and the market.

COL Financial Management Inc. President Marvin Fausto said their

survey of retail investors showed that more than half expect the pandemic to end after the current omicron wave.

Its survey also showed that a majority of retail investors remain heavily invested in stocks and even plan to increase their stock exposure in the next three to six months.

Prior to reaching the PSEi’s 8,400 target, COL chief technical analyst Juanis Barredo said the main index needs to break out of its current consolidation phase and chip off the resistance at the 7,350 to 7,475 level.

“We wish to see a higher-low base to offer a better chance to breakout…then seek out 7,800 to 8,250.

Without it, a longer waiting period will surface,” he said.

Barredo said the PSEi may get a boost from a US stocks bounce as it reaches oversold level but volatility may come back late into the first quarter or into the second quarter as the US rally is seen to take a pause and as the local presidential elections get underway.

DITO shares to resume trading T

he Philippine Stock Exchange (PSE) has lifted the trading halt on the shares of DITO CME Holdings Corp. after the firm explained its decision to defer its stock rights offering (SRO).

Shares of DITO, the country's third telecommunications company led by Davao businessman Dennis Uy, will resume trading on February 2 at 10:30 a.m.

“We wish to emphasize that the lifting of the trading halt should not be construed as an approval by the exchange of the deferment of the offering and is without prejudice to any regulatory action that the exchange may pursue in order to ensure full compliance with the applicable rules and for the protection of the investing public consistent with the mandate of the Exchange, as a self-regulatory organization, to maintain a fair and orderly market,” the PSE said.

“The company, its underwriter and other advisers are responsible

Negros Oriental unveils ‘RE code’

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n a bid to increase renewable energy (RE) investment, the provincial government of Negros Oriental launched the country’s first Clean, RE ordinance.

Dubbed the RE code, it is the first ordinance of its kind in the Philippines focused on incentivizing incoming RE investors through carbon credits, as it prioritizes the use of clean sources of power and bans the construction of coal-fired power plants in the province.

“The renewable energy ordinance is a landmark piece of local legislation that will surely boost the morale of our environmental warriors and champions in the field, and most of all, this will give us more drive to continue sustain our efforts for a clean and sustainable world,” said Governor Roel Degamo, who signed the ordinance.

The RE code was unanimously approved by the Sangguniang Panlalawigan, in concurrence with timely climate action considering the devastating impact of global warming. It was unanimously passed by the Sanggunian Panlalawigan on December 23, 2021, and signed into law by Degamo on January 11. Lenie Lectura

for strict compliance with the rules of the exchange.”

DITO will refund the institutional buyers starting February 2 and trading participants starting February 3.

The company has offered a total of 1.64 billion common shares, priced at P4.88 per share. The offer price is an 18.4-percent discount from the closing price as of January 13 and was set at the bottom of its indicative price range.

DITO shares closed Friday at P5.09 apiece.

Its offer period has already ended on January 25, but last Friday, the company decided to pull the plug on its offer, to the dismay of the regulators as this was not done in the past.

There were also some reports that its offer was undersubscribed, or only a few shareholders bought additional shares.

“In terms of the company’s decision in deferring the SRO, it was a long thought-out process with extensive discussions between DITO

CME, the majority shareholder, Udenna Corp. and the sole underwriter, China Bank Capital Corp.,” the company said in its explanation to the PSE. “In consultation with China Bank Capital and the support of Udenna, DITO CME decided that a deferment of the SRO would be in the best interest of the company, and especially its minority shareholders."

DITO, which priced its offer in December, cited the surge in cases caused by the Omicron variant and the hawkish pronouncements of the United States Federal Reserve, as its main reasons for the deferment.

“Hence, with the less than ideal market conditions, the company believes that it has the obligation to ensure that the investments of all its shareholders, including the minority shareholders, are sufficiently protected and that other viable options to raise funds are instead pursued by the company. As such, the company

determined that the best course of action is to preserve the status quo, for now, and to defer the SRO.” The benchmark PSE index may have been down for the most part of January due to the outbreak of the Omicron variant, but it rose by 173.38 points to close at 7,296.01 points on Monday.

Many brokers have commented that regulators should protect the minority holders of DITO. “We trust that our regulators will handle this development with the protection of those investors in mind, especially since there is a large number of minority shareholders that participated in the offering,” Conrado F. Bate, President and CEO of COL Financial Group Inc., said.

“For now, we should wait for the decision of the regulators on this issue, but we hope that DITO and the PSE can resolve the suspension matter as soon as possible for the benefit of the shareholders impacted." VG Cabuag

NGCP seeks bids from power firms

By Lenie Lectura @llectura

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HE National Grid Corporation of the Philippines (NGCP) is soliciting bids from interested power firms to supply the grid operator firm power reserves via a competitive auction.

In a bid invite, the grid operator said it needs qualified ancillary service (AS) providers that can supply starting this year’s grid requirements for regulating reserves (RR), or 4 percent of the hourly system demand; contingency reserves (CR), the most heavily loaded generating unit on-line and its scheduled reserve; dispatchable reserves (DR), the second most heavily loaded generating unit on-line and its scheduled reserve; reactive power support; and black start service.

As system operator, the NGCP is responsible for determining, acquiring and dispatching the needed AS levels in order to maintain power quality and the reliability and security of the grid.

“The NGCP, through its Third Party Bids and Awards Committee [TPBAC], is inviting all interested grid-connected merchant plants and Independent Power Producers [IPPs] to apply for eligibility and participate in the competitive bidding for the procurement of AS,” it said in the bid invite.

The power plants of interested bidders must be directly connected to an NGCP-owned facility with a dedicated connection

while embedded generators must have expressed consent from host distribution utility that it can dispatch anytime when required for ancillary services provision.

The AS rates is set at a maximum of P2.25 per kilowatt (kW) per scheduled hour for RR, P1.50 per kW per scheduled hour for CR, P0.85 per kW per scheduled hour for DR, P4 per kilovoltampere reactive per hour, per occurrence for reactive power support, and incidental energy payment only per occurrence for black start service.

The NGCP has set on February 2 the deadline for the submission of expression of interest, followed by the conduct of a prebid conference on February 10.

The deadline for the submission of bids is on February 16 for Luzon, February 17 for Visayas, and February 18 for Mindanao.

The bids will be opened on the same days.

NGCP is scheduled to award the contracts on March 1.

Should there be less than two expression of interest, the TPBAC shall declare a failed bid.

Photo from The Royal Mandaya Hotel

By Manuel T. Cayon | Mindanao Bureau Chief @awimailbox

D

avao City—The 183-room The Royal Mandaya Hotel reopened on Monday in time for the Chinese New Year’s celebration, two years after it closed shop due to the Covid-19 pandemic.

It offered promotional room rates and renovated rooms for its patrons and newcomers.

The hotel, which once became the national campaign headquarters of then Mayor Rodrigo Duterte when he ran for president in 2016, closed shop in 2020, as travel and tourism were the first to succumb to global and domestic movement restrictions.

Prior to shutting down, it posted an advisory on its website on March 14, 2020. In it, the hotel advised its

clients that it has “implemented stringent precautionary measures to ensure that our guests and employees are safe”. The hotel said it put in place cleaning and disinfecting protocols, including those in public spaces and calibrated non-contact infrared inspection.

Last month, it resumed posting on its website and insinuated about its reopening by showing images of renovated and refurbished room interiors. It eventually announced that it will open its doors to the public again on January 31.

“There’s no better way to celebrate our reopening day than welcoming the good fortune of the Chinese New Year. Celebrate with us on 31 January in a lunch buffet accompanied by a spectacular Tiger Dance performance or Chinese dinner buffet at P888 rate per head,” its advisory read.

Senate gives franchises to more broadcast firms

T

he Senate approved on third and final reading on Monday various bills granting telcos and broadcast firms legislative franchises.

Sponsored by Senator Grace Poe, who chairs the Public Services Committee, the approved House bills sought the grant and renewal of legislative franchises to institutions and companies to be able to operate in various parts of the country.

These include House Bill (HB) 9384, which proposes to expand the franchise granted to the Davao City government for its radio broadcasting stations; as well as franchises for Mount Apo Science Foundation College Inc. (HB 10212), Capricom Broadcasting Network Corp. (HB 10192), Amapola Broadcasting System (HB 10196), South Cotabato Communications Corp. (HB 10123), Prime Broadcasting Network Inc. (HB 10124), National Council of Churches in the Philippines (HB 10125), and GVM Radio/TV Corp.

(HB 10211).

Also approved on third and final reading were the legislative franchises for Ismo Inc. (HB 8971), Aspire Media Technologies and Ventures Inc. (HB 10169), Linkserve Telecommunications Network Inc. (HB 10193), Dere-

cho Telecommunications Inc. (HB 10194), Unicorn Communications Corp. (HB 10195), Purple Flower Telecommunication Corp. (HB 10197), Calapan Telephone System Inc. (HB 8975), Bicol Telephone and Telegraph Inc. (HB 9424), Lukban Telephone System Inc. (HB 9438), Continental Telecommunications System Inc. (HB 9439), Victorias Telephone System Inc. (HB 10182), and General Telephone System Inc. (HB 10183), so they could put up and maintain their respective telecommunications systems and services.

Meanwhile, the Senate also passed Poe-sponsored local bills seek ing to establish, convert and upgrade the local offices of the Land Transportation Office (LTO) in 32 locations across the Philippines.

These include LTO offices in the provinces of Isabela, Nueva Ecija, Camarines Norte, Negros Occidental, Cebu, Iloilo, Zamboanga del Sur and Bukidnon Likewise, the Senate voted to approve three House bills seeking to establish offices of the Land Transportation Franchising and Regulatory Board in Puerto Princesa, Palawan (HB 2590), Bacoor City, Cavite (HB 4560) and in Dasmariñas, Cavite (HB 5488).

B2

Companies BusinessMirror

Wednesday, February 2, 2022

Converge spends ₧100M to fight online child abuse

C

By Lorenz S. Marasigan

@lorenzmarasigan

onverge ICT Solutions Inc. has intensified its campaign against online sexual abuse and exploitation of children through a P100-million investment.

Ronald Brusola, the CTO of Converge, said the amount went into strengthening its network security systems to curb the streaming of illicit content, especially those that harm children.

To date, he said, over 20,000 websites featuring child sexual abuse imagery have been blocked on the Converge network, effectively curbing the heavy traffic to

these illicit sites that have been averaging 1,200 hits per minute, according to internal data. “ We are committed to ensure that our network is ironclad against illicit content, especially those harmful to children.

Schemes to spread this criminal content evolve with technology and that’s why we continually upgrade our tools to combat them.

So far, we’ve invested over P100 million in internet safety tools to ensure that the content that passes through our network is safe,” Brusola said.

Converge is a member of United Kingdom-based child abuse watchdog Internet Watch Foundation (IWF), whose goal is to eradicate the online sexual abuse and exploitation of children.

Brusola noted that as the pandemic forced people to heavily rely on the Internet for their daily needs, Converge “recognizes its role in ensuring that the internet remains a safe space for everyone.”

“Converge began this cyber security program four years ago, and since then, we’ve only increased our coverage to monitor illegal activity on our network. Apart from imagery of child sexual abuse, we are on the lookout for scams in-

volving financial institutions and online gambling. We are steadfast in making sure our network is being used for the good of everyone,” noted Brusola.

Aside from the IWF, Converge works closely with the National Telecommunications Commission, the Department of Information and Communications Technology, and the Department of Social Welfare and Development to fight online child abuse and exploitation.

Converge, the leading pure fiber data network and internet service provider in the Philippines, has been recognized for Best New Internet Technology Innovations in the country by the International Business Magazine Awards.

The award is in recognition of the innovative consumer product called Converge Time of Day.

Exora secures power deals for big brands

E

xora Technologies, an energy tech start-up that assists in power auctions, said it secured energy retail supply contracts for big brands.

The company said some of the big names that it has served include Converge ICT, Bounty Farms, LCC Malls, Bestpak Packaging Solutions, Rain or Shine, Asian Coatings and Polyline Industries.

“Exora is more than an auction platform. We are working on an advanced threshold management and machine-learning driven feature of analytics. We use the gathered data and analytics to further improve the fit of supplier offers to customer needs," Sergius Angelo Santos, Exora’s CEO, said in a statement.

"These also serve as a basis for advice we give to our clients and energy efficiency and conservation solutions we may recommend."

Exora Technologies offers an end-to-end energy solutions platform that assists contestable consumers to lower energy costs through the use of technology and digitalization. This enables consumer choice and promotes open competition among the stakeholders.

“One of the sustainability strategies of Converge ICT was to switch to renewable energy. We have interviewed several retail electricity suppliers but when we worked with Exora last August, we were able to

do the switch immediately," said Enrique Balangue, Converge ICT’s facilities and administrative manager.

Through Exora’s digital procurement, we were able to cut down all of the interviews and presentations to a very streamlined process. It saves us a lot of time, effort and energy and it helps us make business decisions easier."

Exora said its technology enables the market to fully exercise choice and flexibility in supply. The company streamlines the process and enables the country’s first and fastest digital energy procurement to 2.5 weeks from the usual three to six months.

The company also interfaces with local engineering and facilities teams, to beef up the expertise and knowledge base of any team at the cost of one entry-level full-time staff. This equips the teams to manage facilities better, forecast issues and resolve them and reminders to ensure compliance to new energy regulations.

“Exora continues to be a valued partner of Asian Coatings. Their nuanced expertise in the electricity supply market and power in general has resulted in massive savings for our company. All that without any disruptions or modifications in our power supply and infrastructure, respectively,” said Redmond Yu, AVP for Sales and Marketing of Asian Coatings Phils. Inc. VG Cabuag

mutual funds

January 31, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

230.72

5.7%

-4.71%

-2.02%

-1.02%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6045

28.45%

2.27%

2.77%

-3.59%

6.01%

-8.17%

-4.76%

-1.34%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7577 -1.43%

-7.27% n.a.

0.16%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.763 8.44%

-4.42% n.a.

-1.02%

First Metro Save and Learn Equity Fund,Inc. -a 5.1596

-2.33%

-0.09%

-0.45%

7.4%

-4.34%

-3.56%

-8.83% n.a.

-2.7%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1945

8.54%

First Metro Save and Learn Philippine Index Fund, Inc. -a

0.7752

MBG Equity Investment Fund, Inc. -a

91.88

-4.67%

PAMI Equity Index Fund, Inc. -a

47.5347

5.83%

-3.24%

-0.42%

-1.23%

Philam Strategic Growth Fund, Inc. -a

495.52

5.49%

-3.11%

-0.92%

-1.03%

Philequity Dividend Yield Fund, Inc. -a

1.387

23.05%

1.71%

2.45%

2.26%

36.3336

8.82%

-2.12%

0.66%

-0.71%

-3.58% n.a.

-0.63%

Philequity Fund, Inc. -a Philequity MSCI Philippine Index Fund, Inc. -a

0.9355

6.9%

Philequity PSE Index Fund Inc. -a 4.9016

6.69%

-2.55%

Philippine Stock Index Fund Corp. -a

818.7

Soldivo Strategic Growth Fund, Inc. -a

0.7406

0.2%

-1.19%

6.48%

-2.55%

0.17%

-1.18%

6.85%

-6.54%

-2.9%

-1.59%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7365

7.09%

-4.48%

-1.22%

-1.03%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.9328

6.01%

-2.89%

-0.06%

United Fund, Inc. -a

5.67%

-2.67%

0.52%

-1.47%

3.3868

-1.03%

-1.24%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1561

Philippine Stock Index Fund Corp. -a

10.19% n.a. n.a.

-0.57%

1007.43 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 110.1912

6.79%

-2.34%

0.65%

-1.15%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0757

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6877

-16.54%

3.36%

3.84%

-4.51%

-0.54%

12.5%

9.53%

-8.6%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.664

1.43%

-1.2%

-0.79%

-1.65%

ATRAM Philippine Balanced Fund, Inc. -a

2.2803

2.33%

-0.27%

-0.1%

-0.05%

0.51%

1.27%

-0.19%

First Metro Save and Learn Balanced Fund Inc. -a 2.6859

4.83%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2125

9.88% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

3.49%

1.69%

1.74%

2.0065

PAMI Horizon Fund, Inc. -a

3.74

0.93%

1.09%

0.52%

-0.67%

Philam Fund, Inc. -a

16.7389

1.02%

0.67%

0.51%

-0.63%

Solidaritas Fund, Inc. -a

2.106

2.87%

-0.68%

0.32%

-0.73%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6192 3.63%

-1.66%

-0.13%

-0.76%

Sun Life Prosperity Dynamic Fund, Inc. -a

-0.11%

0.46%

0.38%

0.9578

10.98%

1.67%

-0.51%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9743

-2.94% n.a. n.a.

-1.57%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.9367

2.01% n.a. n.a.

-0.83%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.9249

2.79% n.a. n.a.

-0.96%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03678

-5.84%

1.23%

0.9%

PAMI Asia Balanced Fund, Inc. -b

$1.0423

-14.02%

2.69%

2.68%

-2.32%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5127 -1.22%

9%

7.14%

-6.03%

4.65%

3.58%

-3.95%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1512 -3.08%

-3.06%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

374.53

0.84%

2.79%

2.5%

0.06%

ATRAM Corporate Bond Fund, Inc. -a

1.8865

-0.87%

0.28%

-0.01%

0.1%

Cocolife Fixed Income Fund, Inc. -a

3.2472

0.91%

2.87%

3.83%

0.1%

Ekklesia Mutual Fund Inc. -a

2.2482

-2.15%

1.61%

1.38%

-0.15% 0.07%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4276 - 0.93%

2.95%

1.84%

Philam Bond Fund, Inc. -a

4.3958

-5.39%

4.14%

1.48%

0%

Philam Managed Income Fund, Inc. -a

1.3215

-0.05%

3.74%

2.87%

0.18%

Philequity Peso Bond Fund, Inc. -a

3.9749

-0.26%

3.7%

2.64%

0.23%

Soldivo Bond Fund, Inc. -a

1.0281

-0.96%

4.19%

1.95%

-0.01%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1858

-0.51%

4.2%

3.18%

-0.05%

Sun Life Prosperity GS Fund, Inc. -a

-1.08%

3.39%

2.54%

-0.03%

1.7301

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$488.43

0.73%

2.77%

2.43%

-0.23%

ALFM Euro Bond Fund, Inc. -a

Є219.25

-0.03%

0.88%

1.02%

-0.35%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1832

-7.96%

1.28%

1.38%

-1.72%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 -2.65%

1.06%

0.8%

-1.15%

PAMI Global Bond Fund, Inc -b

$0.9934

-9.08%

-1.57%

-1.17%

-2.87%

Philam Dollar Bond Fund, Inc. -a

$2.4383

-3.79%

3.51%

2.33%

-2.69%

Philequity Dollar Income Fund Inc. -a

$0.0620001

-0.72%

2.72%

1.86%

-0.47%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0842 -4.26%

2.06%

1.11%

-3.5%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a

131.31

1.03%

2.64%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0589

0.97% n.a. n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3172

1.47%

2.5%

2.54% 2.52%

0.09% 0.11%

0.12%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.061

0.73%

1.39% n.a.

0.04%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

46.25 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3064

13.79% n.a. n.a.

-5.53%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.93

-5.1% n.a. n.a.

-4.12%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

January 31, 2022

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 PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MANULIFE PHIL STOCK EXCH

954,950 458,633,957 167,826,383.50 2,422,360 1,939,537 287,136,751.50 4,600 11,088 3,564,050 136,172 1,115,360 256,323,557 11,295,197 1,374,930 1,682,550 57,680 16,390 28,500 150,734

122,269,074 438,949 -1,112,910 -1,000,782 -8,963,817 103,570 7,491,390 19,873 19,200 -

INDUSTRIAL AC ENERGY 9.52 9.54 9.51 9.54 9.48 9.54 17,856,400 169,808,039 ALSONS CONS 1.01 1.04 1.02 1.05 1.01 1.01 114,000 116,000 35.15 35.3 33.8 35.45 33.8 35.3 9,907,100 345,900,340 ABOITIZ POWER BASIC ENERGY 0.52 0.53 0.53 0.54 0.52 0.52 4,063,000 2,133,470 27.95 28 28.2 28.2 27.7 28 215,300 6,010,405 FIRST GEN 70 70.6 70.1 70.1 70 70 103,020 7,218,006.50 FIRST PHIL HLDG MERALCO 331.8 335 323 335 323 335 235,930 78,192,034 24.95 25 25 25.1 24.75 25 3,427,800 85,689,770 MANILA WATER PETRON 3.25 3.26 3.3 3.3 3.25 3.26 255,000 830,540 4.1 4.25 4.02 4.3 4.02 4.3 6,000 25,420 PETROENERGY PHX PETROLEUM 10.44 10.66 10.52 10.66 10.5 10.66 52,000 546,936 SYNERGY GRID 12.72 12.76 12.78 12.8 12.7 12.72 7,191,300 91,651,486 19 19.02 18.84 19.06 18.84 19.02 108,600 2,064,814 PILIPINAS SHELL SPC POWER 14.26 14.3 14.36 14.48 14.2 14.3 173,100 2,488,604 2.21 2.22 2.17 2.24 2.12 2.22 96,688,000 213,432,970 SOLAR PH 4.74 4.8 4.85 4.85 4.79 4.8 1,641,000 7,884,370 AGRINURTURE AXELUM 2.85 2.89 2.84 2.89 2.81 2.89 248,000 706,420 27.65 28.3 28 28.3 27.3 28.3 2,586,200 72,860,170 CENTURY FOOD DEL MONTE 15.3 15.4 15.2 15.48 15.2 15.3 7,700 117,398 8.48 8.5 8.54 8.58 8.45 8.5 3,246,100 27,590,037 DNL INDUS 23.7 23.75 22.3 24.05 22.3 23.75 2,910,200 67,667,775 EMPERADOR SMC FOODANDBEV 68.85 70 69.5 70 68.8 70 68,270 4,722,842.50 0.82 0.83 0.85 0.87 0.81 0.83 112,895,000 94,332,060 FIGARO COFFEE ALLIANCE SELECT 0.59 0.6 0.6 0.6 0.59 0.6 765,000 456,240 FRUITAS HLDG 1.22 1.24 1.18 1.24 1.17 1.24 37,737,000 45,786,180 115.5 116 115.9 118 112.5 116 6,110 707,615 GINEBRA JOLLIBEE 239.4 240 236.6 240 236 240 545,400 130,200,340 1.45 1.46 1.4 1.46 1.4 1.46 12,696,000 18,363,170 KEEPERS HLDG MAXS GROUP 6.7 6.72 6.51 6.75 6.51 6.7 371,500 2,482,472 MG HLDG 0.14 0.144 0.145 0.145 0.139 0.139 470,000 65,730 16.36 16.38 16.26 16.48 16.26 16.38 20,138,800 329,677,018 MONDE NISSIN SHAKEYS PIZZA 9.41 9.42 9.6 9.81 9.41 9.42 187,000 1,772,988 0.65 0.67 0.67 0.68 0.65 0.68 168,000 112,000 ROXAS AND CO RFM CORP 4.5 4.6 4.5 4.55 4.5 4.55 89,000 400,750 SWIFT FOODS 0.105 0.106 0.104 0.107 0.104 0.105 1,150,000 120,580 126.5 127 126 127.4 126 127 940,650 119,302,444 UNIV ROBINA VITARICH 0.67 0.68 0.68 0.71 0.66 0.68 1,534,000 1,035,550 2.4 2.5 2.41 2.41 2.4 2.4 5,000 12,040 VICTORIAS CEMEX HLDG 1.05 1.07 1.06 1.08 1.05 1.05 822,000 871,490 EAGLE CEMENT 14.12 14.24 14.5 14.5 14.12 14.12 85,100 1,203,334 6.2 6.25 6.18 6.27 6.18 6.25 80,700 498,836 EEI CORP HOLCIM 5.91 5.94 5.99 5.99 5.9 5.94 63,600 378,744 4.84 4.89 4.9 4.93 4.8 4.84 1,733,000 8,409,920 MEGAWIDE 20.7 20.95 20.8 20.95 20.8 20.95 2,400 49,935 PHINMA TKC METALS 0.77 0.8 0.8 0.8 0.8 0.8 4,000 3,200 0.82 0.83 0.86 0.86 0.82 0.82 2,852,000 2,391,860 VULCAN INDL CROWN ASIA 1.7 1.71 1.71 1.71 1.71 1.71 81,000 138,510 5.61 5.74 5.75 5.75 5.61 5.74 17,000 95,648 PRYCE CORP 20.3 21.15 20.2 20.2 20.2 20.2 500 10,100 CONCEPCION GREENERGY 1.89 1.9 1.95 1.95 1.84 1.9 3,350,000 6,422,690 10.4 10.46 10.2 10.5 9.97 10.4 2,011,900 20,713,795 INTEGRATED MICR IONICS 0.7 0.73 0.73 0.73 0.7 0.73 39,000 27,950 6.01 6.09 6 6.09 6 6.09 5,900 35,913 PANASONIC SFA SEMICON 1.1 1.12 1.1 1.12 1.08 1.1 180,000 195,580 CIRTEK HLDG 3.86 3.87 3.96 4.01 3.81 3.86 1,218,000 4,752,480

28,177,999 21,617,690 -520 -951,040 -49,771.00 29,266,578 54,348,585 -9,870 992,736 -1,382,840.00 22,880 749,330 57,270 -28,900 -56,031,850 -322,949 16,159,580 -2,231,156.50 104,360 -27,030 -188,124 -13,171,108 614,940 -31,161 -75,653,808 -1,291,908 49,950 148,500 44,720 -51,460,633 49,750 2,400 -2,594,090 -2,490 1,150 -254,230 4,431,518.00 -8,800 -453,250

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER ZEUS HLDG

-9,100 30,938,470 72,966,081 -8,111,008 -12,217,990 447,175 -4,650,816.00 -4,537,910 44,531,248.50 -707,190 -8,670,585 -14,105,190 96,376,435 682,578 8,647 -

HOLDING & FRIMS

44 134.5 98.1 25.4 9.36 58.85 8.83 17.72 20.4 56 20.4 107.2 100.6 1.85 4.05 2.85 0.8 931 209

0.9 866.5 63 12.8 7.85 0.88 0.79 0.78 5.21 8.42 7.15 569.5 3.64 61.8 0.58 2.91 9.99 3.85 2.9 1.13 1.07 949 111.3 2.15 123.6 0.17

44.5 135 98.45 25.45 9.37 58.9 9.19 18.48 20.5 57.7 20.45 108 100.8 1.92 4.11 3.03 0.83 990 210

0.91 870 63.5 12.84 8.2 0.89 0.8 0.79 5.24 8.47 7.4 570 3.7 62.5 0.6 2.99 10 3.87 2.99 1.14 1.15 950 112.5 2.38 124.9 0.175

44.1 134 98.95 25.45 9.37 57.8 9.2 18.48 20.4 57.7 20.35 106 98.05 1.85 4.02 2.91 0.8 930 210

0.9 857 63.1 12.8 7.8 0.89 0.8 0.79 5.12 8.23 7.15 560 3.7 60.4 0.63 2.94 9.91 3.8 2.83 1.15 1.07 942 112.5 2.39 123.6 0.175

44.1 136.8 98.95 25.55 9.39 59.25 9.2 18.48 20.55 57.7 20.4 110.5 102 1.98 4.1 2.91 0.83 960 210

0.92 870 65.15 12.9 8.22 0.89 0.86 0.84 5.26 8.48 7.39 572.5 3.88 62.5 0.63 2.94 10.04 3.88 2.99 1.15 1.16 953 112.5 2.39 125 0.175

44 133.1 98 25.45 9.36 57.8 9.2 18.48 20.3 57.7 20.35 106 98.05 1.85 4 2.85 0.8 930 208

0.89 857 62.6 12.78 7.8 0.88 0.78 0.78 5.12 8.23 7.12 558 3.7 60 0.58 2.91 9.91 3.8 2.83 1.13 1.07 940.5 110.5 2.39 123.5 0.17

44 135 98.1 25.45 9.37 58.9 9.2 18.48 20.5 57.7 20.4 107.2 100.6 1.92 4.1 2.85 0.83 960 210

0.92 870 63 12.8 8.2 0.88 0.79 0.78 5.24 8.47 7.39 570 3.7 62.5 0.6 2.91 10 3.85 2.99 1.13 1.16 949 112.5 2.39 125 0.17

21,700 3,398,050 1,705,620 95,000 207,000 4,874,670 500 600 174,700 2,360 54,800 2,370,090 112,670 713,000 416,000 20,000 20,000 30 720

1,827,000 211,450 2,401,560 1,122,100 4,800 25,000 120,398,000 22,954,000 695,800 4,290,100 50,000 187,790 83,000 2,436,800 58,000 246,000 2,016,800 10,170,000 7,000 127,000 8,000 259,840 114,280 1,000 400 190,000

1,650,050 182,874,280 152,550,647.50 14,392,888 38,292 22,100 98,608,510 18,590,230 3,622,504 36,178,368 364,411 106,905,205 313,880 151,325,290.50 34,560 716,010 20,152,022 39,207,890 19,970 145,320 8,650 246,621,035 12,767,124 2,390 49,477 32,400

PROPERTY ARTHALAND CORP 0.61 0.62 0.61 0.62 0.61 0.62 23,000 14,140 AYALA LAND 35.85 35.9 34.7 35.9 34.65 35.9 10,307,500 366,879,665 5.88 5.9 5.88 5.97 5.88 5.9 1,588,000 9,396,756 AYALA LAND LOG AREIT RT 50.65 50.9 51.1 51.35 50.65 50.65 651,370 33,320,843.50 0.74 0.76 0.75 0.76 0.74 0.76 87,000 64,920 A BROWN CITYLAND DEVT 0.74 0.75 0.74 0.75 0.74 0.75 60,000 44,940 CROWN EQUITIES 0.101 0.104 0.101 0.104 0.101 0.104 240,000 24,300 2.9 2.91 2.9 2.91 2.9 2.91 306,000 888,130 CEB LANDMASTERS CENTURY PROP 0.405 0.41 0.41 0.41 0.405 0.41 5,150,000 2,093,200 6.98 6.99 7.01 7.02 6.99 6.99 1,082,600 7,586,409 DOUBLEDRAGON 1.78 1.79 1.79 1.8 1.78 1.79 3,621,000 6,478,920 DDMP RT DM WENCESLAO 6.8 6.85 6.77 6.85 6.2 6.85 6,900,900 45,018,741 0.25 0.26 0.26 0.26 0.26 0.26 40,000 10,400 EMPIRE EAST EVER GOTESCO 0.34 0.345 0.345 0.365 0.345 0.345 36,050,000 12,721,050 7.6 7.61 7.58 7.63 7.58 7.61 1,399,200 10,638,853 FILINVEST RT FILINVEST LAND 1.08 1.09 1.09 1.09 1.08 1.09 2,948,000 3,209,060 GLOBAL ESTATE 0.94 0.96 0.94 0.95 0.94 0.95 297,000 279,280 10.76 11.02 11 11.24 10.32 11.04 478,400 5,225,608 8990 HLDG GOLDEN MV 521 540 540 540 540 540 10 5,400 1.06 1.07 1.07 1.08 1.06 1.06 727,000 772,120 PHIL INFRADEV 0.86 0.87 0.85 0.86 0.85 0.86 35,000 29,800 CITY AND LAND MEGAWORLD 3.09 3.11 3.1 3.16 3.09 3.09 17,220,000 53,576,170 0.25 0.255 0.255 0.265 0.25 0.25 6,330,000 1,636,200 MRC ALLIED MREIT RT 22.45 22.5 22.8 23 22.4 22.5 2,070,500 46,892,280 OMICO CORP 0.345 0.355 0.355 0.355 0.355 0.355 10,000 3,550 0.47 0.48 0.48 0.48 0.47 0.47 2,680,000 1,271,250 PHIL ESTATES PRIMEX CORP 2.1 2.12 2.02 2.12 2.02 2.12 1,730,000 3,561,460 8.35 8.4 8.65 8.67 8.31 8.4 7,419,600 62,776,371 RL COMM RT ROBINSONS LAND 18.24 18.3 18 18.36 18 18.3 2,112,900 38,566,780 PHIL REALTY 0.205 0.207 0.19 0.21 0.19 0.21 930,000 190,460 1.47 1.5 1.49 1.5 1.47 1.5 8,000 11,900 ROCKWELL SHANG PROP 2.55 2.59 2.59 2.59 2.54 2.59 195,000 499,190 2.8 2.85 2.66 2.89 2.66 2.89 7,000 18,850 STA LUCIA LAND SM PRIME HLDG 35.1 35.2 34.3 35.5 34.3 35.1 8,127,000 285,606,815 SOC RESOURCES 0.57 0.6 0.58 0.58 0.57 0.57 39,000 22,570 3.6 3.65 3.78 3.78 3.6 3.6 197,000 716,470 VISTAMALLS VISTA LAND 3.46 3.48 3.45 3.5 3.43 3.48 680,000 2,345,120

SERVICES ABS CBN 11.34 11.36 11.4 11.42 11.06 11.34 445,000 5,013,642 GMA NETWORK 14.7 14.72 14.6 14.72 14.6 14.7 407,700 5,972,082 0.42 0.435 0.43 0.44 0.42 0.44 310,000 132,350 MANILA BULLETIN MLA BRDCASTING 9.1 9.76 9.02 9.02 9.01 9.01 1,000 9,019 3,110 3,140 3,240 3,264 3,110 3,110 143,615 457,943,750 GLOBE TELECOM 1,834 1,852 1,850 1,869 1,834 1,834 111,305 206,023,650 PLDT APOLLO GLOBAL 0.071 0.072 0.073 0.073 0.071 0.072 287,630,000 20,545,220 30.6 30.65 30.5 30.8 30.45 30.65 3,626,300 111,097,035 CONVERGE DFNN INC 2.46 2.47 2.38 2.46 2.33 2.46 872,000 2,126,780 1.4 1.49 1.4 1.4 1.4 1.4 3,000 4,200 IMPERIAL NOW CORP 1.25 1.26 1.26 1.27 1.25 1.26 1,066,000 1,338,330 TRANSPACIFIC BR 0.37 0.375 0.375 0.39 0.375 0.375 10,410,000 3,964,950 7.41 7.5 7.5 7.6 7.41 7.41 14,800 110,291 2GO GROUP ASIAN TERMINALS 13.92 14 14 14 14 14 500 7,000 1.61 1.62 1.63 1.63 1.61 1.62 5,431,000 8,795,290 CHELSEA CEBU AIR 44.95 45 43.7 45.05 43.7 45 875,200 39,054,145 INTL CONTAINER 199.9 200 198 202 198 200 1,337,330 267,885,221 23.85 24.65 24.65 24.65 23.8 23.8 2,200 53,485 LBC EXPRESS MACROASIA 5.4 5.41 5.17 5.47 5.17 5.4 2,180,100 11,770,333 1.02 1.09 1.02 1.02 1.02 1.02 31,000 31,620 METROALLIANCE A ACESITE HOTEL 1.5 1.58 1.52 1.52 1.5 1.5 8,000 12,100 DISCOVERY WORLD 1.75 1.79 1.75 1.78 1.75 1.78 40,000 70,450 0.47 0.49 0.465 0.465 0.465 0.465 90,000 41,850 WATERFRONT CENTRO ESCOLAR 6.51 6.89 6.51 6.51 6.51 6.51 500 3,255 IPEOPLE 6.81 7.49 6.79 7.5 6.79 7.49 2,600 18,085 0.33 0.335 0.335 0.335 0.335 0.335 100,000 33,500 STI HLDG BELLE CORP 1.32 1.35 1.32 1.35 1.32 1.35 68,000 89,960 6.26 6.27 6.22 6.39 6.22 6.27 4,901,200 30,913,612 BLOOMBERRY LEISURE AND RES 1.4 1.41 1.39 1.42 1.39 1.4 554,000 779,800 MJC INVESTMENTS 1.15 1.19 1.11 1.11 1.11 1.11 1,000 1,110 0.74 0.76 0.77 0.78 0.74 0.74 5,904,000 4,432,580 PH RESORTS GRP PREMIUM LEISURE 0.45 0.455 0.455 0.455 0.45 0.45 1,550,000 699,350 1.94 1.96 1.95 1.96 1.93 1.96 250,000 485,760 PHILWEB ALLDAY 0.58 0.59 0.58 0.59 0.58 0.59 31,826,000 18,664,180 BERJAYA 5.59 5.95 5.6 5.98 5.52 5.59 35,000 195,615 8.52 8.65 8.61 8.72 8.5 8.52 4,967,800 42,637,297 ALLHOME METRO RETAIL 1.37 1.38 1.37 1.38 1.37 1.37 320,000 438,600 37.1 37.15 36.55 37.4 36.55 37.1 990,100 36,795,955 PUREGOLD ROBINSONS RTL 56.4 56.55 57.95 58.25 55.7 56.4 2,872,430 161,892,168.50 PHIL SEVEN CORP 86 88 88 88 88 88 90 7,920 1.08 1.09 1.08 1.1 1.08 1.09 1,074,000 1,163,870 SSI GROUP WILCON DEPOT 29.9 30 29.75 30 28.9 30 1,462,100 43,582,985 0.225 0.237 0.222 0.239 0.222 0.237 1,310,000 299,230 APC GROUP EASYCALL 3.99 4 3.98 3.98 3.98 3.98 3,000 11,940 IPM HLDG 6.95 7 7 7 7 7 1,200 8,400 1 1.01 1.04 1.04 1 1.01 6,657,000 6,755,620 MEDILINES PRMIERE HORIZON 0.56 0.57 0.57 0.59 0.55 0.57 10,854,000 6,095,150

MINING & OIL ATOK 5.95 6.13 6.15 6.15 5.94 6.13 60,900 367,619 1.66 1.67 1.72 1.76 1.65 1.66 13,274,000 22,390,650 APEX MINING ATLAS MINING 6 6.02 6.02 6.03 5.95 6 945,500 5,663,419 5.06 5.37 5.06 5.06 5.06 5.06 7,100 35,926 BENGUET A CENTURY PEAK 2.7 2.72 2.72 2.72 2.72 2.72 30,000 81,600 DIZON MINES 5.01 5.47 5.05 5.05 5.01 5.01 1,800 9,078 2.14 2.16 2.11 2.19 2.11 2.16 2,319,000 4,984,710 FERRONICKEL GEOGRACE 0.19 0.21 0.189 0.208 0.189 0.208 460,000 93,210 0.136 0.138 0.135 0.138 0.135 0.138 5,020,000 683,120 LEPANTO A LEPANTO B 0.137 0.141 0.136 0.136 0.136 0.136 520,000 70,720 MANILA MINING A 0.0095 0.0098 0.0095 0.0097 0.0095 0.0095 14,000,000 133,700 1.45 1.46 1.4 1.48 1.38 1.45 695,000 994,270 MARCVENTURES NIHAO 0.9 0.93 0.93 0.93 0.93 0.93 1,000 930 5.86 5.88 5.86 5.97 5.83 5.88 9,438,100 55,592,339 NICKEL ASIA 0.82 0.83 0.83 0.83 0.82 0.82 134,000 110,220 ORNTL PENINSULA PX MINING 5.27 5.31 5.25 5.36 5.25 5.27 973,400 5,158,263 25.05 25.15 24.5 25.5 24.5 25.05 4,286,000 107,845,425 SEMIRARA MINING UNITED PARAGON 0.0069 0.0072 0.0069 0.0071 0.0068 0.0071 21,000,000 145,000 31 31.2 30.5 31.55 30.2 31.2 404,800 12,393,920 ACE ENEXOR 0.012 0.013 0.013 0.013 0.012 0.012 95,800,000 1,163,900 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 300,000 3,600 0.0091 0.0093 0.0092 0.0092 0.0091 0.0092 20,000,000 183,400 PHILODRILL PXP ENERGY 5.95 6 5.91 6 5.91 5.95 146,400 872,506

PREFFERED HOUSE PREF B 99.5 101 101 101 101 101 40 4,040 ALCO PREF D 512 524 512 512 512 512 200 102,400 103.5 104 104 104 104 104 1,100 114,400 BRN PREF A CEB PREF 43.5 43.55 42 43.55 42 43.5 176,100 7,658,805 100.4 103 102.5 103 101 103 35,870 3,624,225 CPG PREF A EEI PREF A 105.1 105.2 105.1 105.1 105.1 105.1 10,840 1,139,284 EEI PREF B 107.8 108 107.8 108 107.8 108 31,880 3,436,764 104.5 105 104.4 105.2 104.4 104.5 6,400 668,779 FGEN PREF G GTCAP PREF B 1,013 1,043 1,020 1,020 1,012 1,012 570 577,920 1,000 1,010 1,001 1,001 1,001 1,001 50 50,050 JFC PREF A 1,002 1,004 1,002 1,002 1,002 1,002 100 100,200 JFC PREF B MWIDE PREF 2B 100 101 101 101 101 101 1,170 118,170 99.2 100 100 100 100 100 10,070 1,007,000 MWIDE PREF 4 PNX PREF 3B 102.5 103 103.1 103.1 103 103 360 37,093 995.5 1,000 1,000 1,000 995.5 995.5 6,860 6,834,045 PNX PREF 4 PCOR PREF 3A 1,048 1,060 1,060 1,060 1,048 1,048 2,070 2,188,740 PCOR PREF 3B 1,052 1,125 1,088 1,110 1,050 1,052 7,720 8,160,665 1.43 1.9 1.98 1.98 1.98 1.98 1,000 1,980 SFI PREF SMC PREF 2F 79.3 79.7 79.3 79.3 79.25 79.25 20,000 1,585,625 75.8 76.6 76.2 76.2 75.8 75.8 10,000 758,044 SMC PREF 2H SMC PREF 2I 79.4 79.6 79.3 79.3 79.3 79.3 500 39,650 SMC PREF 2J 76.5 77 76.5 76.5 76.5 76.5 447,760 34,253,640 76.05 76.4 76 76.05 76 76.05 550 41,815 SMC PREF 2K TECH PREF B2D 53 53.7 53.7 53.7 53.1 53.1 5,320 282,552

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.9 11 11 11 10.98 10.98 7,100 78,076 GMA HLDG PDR 13.92 13.96 13.94 13.96 13.62 13.96 61,700 857,246

WARRANTS TECH WARRANT 0.91 0.96 0.97 0.98 0.92 0.96 896,000 847,550

70,082,135 -106,816 -6,211,730.50 14,940 -29,010 -36,450 -670,634 279,240 -437,350.00 -1,707,400 -191,908 -636,790 1,078,080 -21,694,400 -9,600 -9,408,489 -13,509,632.00 1,900 30,840 108,010,450 8,700 -111,240,880 8,692,040 440,010 -33,167,095 41,930 44,100 -15,450 12,463,085 -43,043,115 -774,567 33,500 -3,686,513 278,330 106,880 450,000 -103,610.00 -1,449,457 -13,700 -6,274,945.00 -42,411,302.50 -7,920 -420,490 17,716,980 -10,760 19,040 192,630 127,170 81,600 233,340 4,991,734 -82,000 -1,723,012 -12,653,915 106,740 -1,200 496,825 -102,400 -4,023,745 40,040 -100,200 -137,800 -211,140 5,370 16,502 -272.0002 -960

SMALL & MEDIUM ENTERPRISES ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

17.9 1.24 1.02 1.82 0.46

18.66 1.25 1.05 1.83 0.465

EXHANGE TRADE FUNDS FIRST METRO ETF

111.8

111.9

17.74 1.27 1.02 1.86 0.43

18.66 1.28 1.05 1.94 0.495

17.74 1.23 1 1.81 0.43

18.66 1.25 1.05 1.83 0.465

11,800 6,005,000 652,000 5,368,000 18,090,000

209,676 7,502,670 660,920 10,098,120 8,634,450

-266,530 3,060 927,670 -111,000

111 111.8 111 111.8 16,400 1,826,376 265,456

www.businessmirror.com.ph

Entrepreneur

Program hones farmers’ skills on digital tech

By Rizal Raoul S. Reyes @brownindio Contributor

H

arnessing the potentials of digital technology, telco firm Smart Communications Inc. (Smart) has embarked on a program to train farmer-entrepreneurs on online marketing and networking.

Stephanie Orlino, education program head of Smart, told a recent online forum that the company has joined the Department of Agriculture – Agricultural Training Institute (DA-ATI) to modernize the agriculture sector through the Digital Farmers Program (DFP).

The ladderized capacity-building program aims to enable smallholder farmers to tap the Internet and different mobile technologies to improve their livelihood.

The module is particularly useful for 76-year-old Plaquino Ceñal whose family also manufactures chocolate products derived from their cacao plantation in Tagum City, Davao del Norte.

“Through digital platforms, we can sell our products directly to consumers without the need for physical stores. This ensures access to the market even in the time of the pandemic when people movement is regulated,” said Ceñal.

After the successful rollout of the DFP 101 basic course that benefited more than 1,500 individuals since 2019, Orlino noted farmers are now expanding income opportunities by applying skills developed from DFP 102, an intermediate course that makes use of more sophisticated digital farming tools and skills.

Launched in the third quarter of 2021, DFP 102 Master Trainer’s Bootcamp for DA-ATI’s 15 Regional Training Centers aims to conduct 50 more sessions for the rest of the year.

The program was complemented by the “Buy Local” program to help smallscale farmers help recover from the pandemic and increase their incomes.

Under the program, the company connects smallholder farmers to consumers, who are primarily the employees and families of the MVP Group of Companies employees, and are provided access to low-cost capital for their planting requirements.

Buy Local, according to Orlino, was also included in relief aid and provided to Taal volcano-affected residents in Batangas, quarantine-affected communities in Metro Manila and Cavite, typhoonhit areas in Laguna and Quezon. The program also raised almost P500,000 through the Rice Aid Initiative of the Philippine Business for Social Progress.

In the third quarter of 2021, Orlino said, the program generated gross sales of more than P18 million for farmers in Bulacan, Nueva Ecija, Pangasinan, and Isabela. During the birthday celebration of MVP Group of Companies chairman Manuel V. Pangilinan, Smart turned over P100,000 as capital to farmer-beneficiaries in Floridablanca, Pampanga to buy farm inputs for the wet season planting cycle.

In 2021, Orlino said, Smart’s Buy Local program generated gross sales of P8 million for 42,260 farmers and raised P300,000 for sustainability funds as capital support for 72 farmers.

Further, Orlino pointed out that Buy Local enabled vegetable farmers facing a challenge of oversupply to sell their surplus to employees and companies and provided additional income opportunities to cacao farmers and marginalized groups such as the Aeta community from Zambales and women’s seamstress group in Quezon City.

“With the use of Agri apps discussed in the course, I can stop pests like stem borers and black bugs from wreaking havoc on our crops. This has resulted in better yields for us, even doubling our harvest,” said Geomar Avila, a 21-yearold college student who still finds time to tend to their farm in San Agustin, Agusan del Sur. The course trains farmers in using the SPIDTECH application developed

by Smarter Approaches to Reinvigorate Agriculture as an Industry in the Philippines (Project SARAI). Using the phone’s built-in camera, farmers can identify, manage, report and monitor pests and diseases of major Philippine crops.

Boosting this capability is another application developed by East-West Seed Philippines called “Plant Doctor Online” that also helps identify and manage plant diseases.

Smart actively pushes for the use of digital technologies to improve the lives and livelihood of farmers and usher them into the digital economy. These efforts underscore the telco’s commitment to support the 17 United Nations Sustainable Development Goals (SDG), particularly SDG 1: No Poverty, and SDG 8: Decent Work and Economic Growth.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, February 2, 2022 B3

Mark Jacinto: A young man’s passion, drive to reach for more, help others

S

Roderick L. Abad

their skills, and develop them and their organization,” he said.

@rodrik_28

OME people only dream about what they can achieve. But for youth and civic organizations leader Mark Jacinto, it isn’t enough to just attain your goal, because you must strive to do more and make a lasting impact on others’ lives.

The 25-year old lad from Quezon City who has accomplished so much at a young age for earning various citations here and abroad—the recent of which were his being selected by the Common Purpose as one of the 25Under25 Awardees and A-List Youth recipients of Eco-Business in Singapore—does not sit on his laurels. He keeps his passion to excel further in his involvement with various causes to become a social entrepreneur someday.

“Awards and recognitions are always opportunities and challenges,” Jacinto told the BusinessMirror in an e-mail interview. “It is an opportunity as we are acknowledged for our efforts, and connect to fellow leaders. However, it is a challenge as we need to continuously translate it to impact.”

Unlike others who enter into the foray of social entrepreneurship with lack or totally without an experience to put up a business-for-a-cause, the young achiever makes sure that he’s already made to succeed in this selfless endeavor.

Hence for the past years, he has joined various organizations that champion youth empowerment and leadership, education, environment, and economy, among others.

“We have believed in the capability of people to transform themselves and others towards the development of all,” he said.

One with his peers

SHOWING support to today’s young generation, Jacinto has affiliated himself with the Online SDG Youth

Action Forum (OSYAF), a web-based community with 24,500 members aiming to bridge opportunities to youth, and help them transform for the Sustainable Development Goals (SDGs).

“We believe that we need to make the SDGs relatabale and simplified for the youth to understand their role in it,” he said of the 17 objectives, also known as the Global Goals, that were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.

In doing so, the online community, wherein he serves as a curator, has linked more than 800 local and international opportunities to youths, including those that they might not know or heard of.

“We are continuously connecting them to opportunities that will enhance their skills, and develop them and their organization,” Jacinto noted, adding that they have also done activation events and enabled their members to contribute to the SDGs’ attainment.

According to him, there are a lot of ways that the young populace can help in achieving the latter.

With social media and rise of online platforms, he cited that various organizations have been collaborating, communicating and coordinating with fellow groups or even the Sangguinang Kabataan (SK) for them to effectively contribute to their local development.

“For those who are just starting or not yet comfortable in doing big

Other causes

MARK JACINTO (center), curator of the Online SDG Youth Action Forum and club information and communication officer of the Rotary Club of Midtown Quezon City, holds a book as he leads the teaching of the children-beneficiaries of the RCMQC.

actions such as mobilization, and volunteering, they can do small, simple actions that they can make it consistent, and integrate it as a part of their habit and routine,” Jacinto suggested.

Among the Global Goals, many youths are involved to SDG 3 (Good Health and Well Being), SDG 4 (Quality Education), SDG 5 (Gender Equality), and SDG 13 (Climate Action), he bared, while pointing out that “other SDGs also need utmost importance”.

Change under ‘new normal’

AMONG the issues that the country and the rest of the world are now facing, young people can play vital roles in addressing the Covid-19 pandemic. According to Jacinto, there has been already a massive surge of youth-led actions being done to help recover from the health crisis, and even provide necessary support to affected communities.

To effect change under the new normal, they have a wide range of platforms to be active. Using both online and offline methods, they are able to convey their points, and mobilize people to act.

“For the past years, social media has been an important tool for youths to be involved and engaged, encouraging them to do actions such as sharing factual information, donating for relief, and other substantive actions,” he said.

Post-pandemic, the curator of OSYAF believes that they must be

given more channels, both in the local, regional and international level to lead.

Unfortunately, he said some youth organizations and youth actions have to hurdle challenges like lack of resources, mental health of volunteers, academics, and other issues that are affecting the organizational sustainability of the actions.

“The capacity and capability as well of youth leaders and youth organizations are also needed to be strengthened for them to effectively lead in the post-pandemic,” Jacinto stressed.

To make this happen, he emphasized the need to further invest in them like what has been done by some local government units in the country. “[They] have been integrating their youth organizations through the Provincial/Local Youth Development Councils, and coordinating with their respective Sangguniang Kabataan to conduct substantive projects,” he shared.

With the Philippine Youth Development Plan ending this year, Jacinto called on the government to enjoin the young leaders “from grassroots to national levels for us to craft a sound youth development plan moving forward.”

“For OSYAF, we are consistently doing dialogues with youth leaders from our community, and discussing potential issues leading in the post-pandemic. Aside from this, we are continuously connecting them to opportunities that will enhance

SERVING to change lives, Jacinto has been also active with other causes through the Rotary Club of Midtown Quezon City, where he works as the Club Information and Communication Officer.

At the forefront of saving the environment, the organization has so far led this year the Scrapangarap, a scrap collection initiative aimed to promote zero-waste, transform scraps into upcycled plywoods made of recycled materials, and donate it to build a learning hub. The project was able to gather 12,000 kilos of scraps, transform it to 50 pieces of 4x8 feet plywood, and donate it for the hub.

Another notable project of the club is the EduKatutubo, wherein it partnered with Masungi Georeserve, to build a learning hub extension for the benefit and preservation of Dumagat Remontados tribe in Tanay, Rizal. With various social and environmental threats confronting them, the center is serving as a safe space for them to gather.

To enable the youth to do their share in the SDGs, the group also consistently integrate its Rotaract Club of Midtown QC and Interact Club of New Era High School for them to strengthen their skills, and give them mentorship and guidance to grow.

“We have also done projects related to economy and other focus areas,” he said. “We actively involve our youths as they have enough enthusiasm, energy, and compassion to serve to change lives.”

Jacinto, who is currently taking up Masters of Public Administration at the University of the Philippines Diliman, takes pride of his involvement with this kind of organization.

On a personal note, he is confident that this will enable him to reach his goal to venture into a social enterprise that helps Indigenous Peoples and other underserved sectors.

“It is close to my heart due to my project with Rotary Club of Midtown Quezon City. Aside from that, enterprises that can help uplift minorities can be okay as well,” he said.

DMCI Homes’ ‘Kaakbay CSR initiative’ aids Bataan capiz home décor makers

Q

uadruple A developer DMCI Homes, through its “Kaakbay” Corporate Social Responsibility (CSR) initiative, continues to reach out to communities hardest hit by the coronavirus health crisis to provide them support in recovering from the pandemic.

Last December, DMCI Homes extended financial assistance to the Orani Suhay Foundation Inc. to help the group generate livelihood opportunities for capiz home décor makers in Bataan province.

The foundation was founded by the late Engr. David M. Consunji who wanted to give back to his hometown by creating livelihood opportunities through the use of capiz shells (windowpane oysters) which are native to Orani.

Since 2018, Suhay’s scholarship program has supported 230 students who have completed their university degrees and their professional board exam accreditations. The foundation’s Sulong Samaleño Ugnayan Sa Wagas na Kabuhayan (SSUWAK) livelihood program has also provided training, equipment, and financial assistance to those seeking employment in Bataan by teaching them traditional capiz shell handicrafts.

Like most industries, however, capiz handicraft makers and suppliers in the towns of Orani, Samal, and Hermosa also took a hit from the lockdowns due to the pandemic, resulting in the loss of their livelihood.

Ronaldo de la Cruz, Orani Suhay

Orani Suhay Foundation Inc. led by its Creative Director Ronaldo de la Cruz (third from left) receives the financial donation from DMCI Homes Corporate Communications Manager Carlo Gahol (leftmost) and Marketing Manager Johnson Tan in December 2021.

Foundation Creative Director, said they restarted operations gradually in May 2021, creating decorative items such as lampshades, pineapple table lamps, chandeliers, and wall tiles as well as seasonal items like Christmas lanterns.

“Through our Sulong Samaleño Ugnayan Sa Wagas na Kabuhayan— program, we have taught around 15 Samaleños how to make capiz decorations to help them generate income—de la Cruz said.

“With the help of our patrons, we hope to expand operations in 2022 to create more livelihood opportunities here in Bataan especially for

those who were displaced by the pandemic,” he added.

Carlo Gahol, DMCI Homes corporate communications manager, said supporting the endeavors of Suhay is one of the company’s initiatives of helping communities and industries hardest hit by the pandemic.

“For the past year, our CSR initiatives have focused on helping communities and industries recover from the pandemic by supporting sustainable livelihood programs for various beneficiaries,” Gahol said of DMCI Homes’ umbrella CSR program “Kaakbay” which aims to foster good relations

Some of the capiz ornaments made by Orani Suhay Foundation Inc.

with the communities where the company operates and bring forth social activities beneficial to the Filipino society.

“This 2022, we hope to sustain our efforts by reaching out to more beneficiaries with the help of the residents of our condominium communities who are also tirelessly helping their neighbor communities through their own donation drives and outreach

initiatives,” he continued.

To learn more about Orani Suhay Foundation, call +63 (047) 810 3736 or e-mail hello@oranisuhay.org.

Apart from creating decorative items such as lampshades, pineapple table lamps, chandeliers, and Christmas lanterns, Orani Suhay Foundation Inc. also started producing wall tiles for living rooms and bedrooms last year.

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Banking&Finance BusinessMirror

Wednesday, February 2, 2022 • Editor: Dennis D. Estopace

www.businessmirror.com.ph

PHL trims debt; still higher than 2020 level

By Bernadette D. Nicolas

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@BNicolasBM

HILE the national government’s total outstanding debt by the end of December 2021 shrank to P11.73 trillion from previous month’s level, it was still higher than the debt stock as of end-2020.

The Bureau of the Treasury reported on Tuesday that the debt stock dipped by 1.7 percent or P203.28 billion from P11.93 trillion as of end-November 2021. The decline was caused by net redemption of

government securities.

While the December debt figure fell within the government’s projected level for the year, it was still a 19.7-percent surge from the P9.795 trillion the state incurred at the end

Business on hold while Congress in recess

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EADERS of the country’s top business organizations have pushed for congressional amendments to the 85-year-old Public Service Act (PSA). Both the Senate and the House of Representatives have already passed on third reading their respective bills seeking to amend the PSA, otherwise known as Commonwealth Act 146.

In a joint letter to the two legislative chambers, the business groups said that amending the PSA would promote foreign direct investments and enable the economy to achieve pre-pandemic growth rates that have eluded the Philippines over the past two years. Previously, the business sector renewed its call to Congress for the passage of the amended PSA that will limit the definition of public utilities to natural monopolies and make a clear distinction from public services.

The approved bills of each chamber will now go to the bicameral conference committee (BCC) for reconciliation of contentious provisions, particularly those relaxing ownership restrictions on utility firms.

Under the Philippine Constitution, public utilities should be 60-percent Filipino-owned.

Starting February 5, the 18th Congress will go on recess for three and a half months to give way to the official campaign season for the May 9 elections and the subsequent canvassing of ballots. During the 109-day period, business is put on hold and many congressmen take advantage of the long break to campaign in their constituencies or go on vacations abroad.

Among the affected bodies is the House of Representatives Electoral Tribunal (HRET), where a protest case has been pending for almost three years. This involves the third legislative district of Camarines Sur in the Bicol region, bailiwick of the late Luis Robredo Villafuerte Sr. After the Commission on Elections (Comelec) proclaimed Gabriel H. Bordado Jr. as winner in the 2019 congressional election, Villafuerte contested the results in 99 clustered precincts. He passed away in September 2021 but his daughter Lalaine Villafuerte-Abonal has continued the protest.

Last December 6 to 15, the HRET revision committee conducted a manual recount of the ballots, which showed that Villafuerte’s lead of 23,132 votes overcame the 2019 tally with Bordado leading by 21,625 votes. This means that Bordado is

Finex free enterprise Joseph Araneta Gamboa not the legitimate congressman representing the said district and should be replaced by a caretaker that House Speaker Lord Allan Jay Q. Velasco shall appoint.

It may be recalled that Velasco himself disputed the victory of Regina Ongsiako Reyes in the congressional election for the lone district of Marinduque in 2013. Both the Supreme Court and the Comelec upheld his protest, but then House Speaker Feliciano R. Belmonte Jr. maintained that a decision to unseat Reyes was up to the HRET. Finally, after more than 30 months of deliberations, Velasco was proclaimed the legitimate representative of Marinduque and assumed office on February 1, 2016—with only five months to go before the 17th Congress ended.

Villafuerte’s camp is in a similar situation today and they hope that the HRET will proclaim him by the end of this week. That would enable Velasco to declare the congressional seat vacant and appoint a caretaker solon to legitimately represent the district in the remaining months of the 18th Congress.

Failure to do so would mean a longer wait for the May 23 resumption of the third regular session, which will mostly be devoted to the proclamation of the next President and Vice President of the Philippines. Based on the legislative calendar, Congress shall adjourn on June 3, and if the HRET takes that long to decide the protest case, they will be depriving the district’s constituents of legitimate representation.

In the case of the PSA, should the BCC fail to resolve the conflicting provisions before the current Congress adjourns, it would take another long process for the amendments to pass in the next Congress and thus deprive the Philippine economy of much needed investments.

Joseph Gamboa is the chairman of the Finex Media Affairs Committee and director of Noble Asia Industrial Corp. The views Gamboa expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror. #FinexPhils www. finex.org.ph.

of December 2020.

However, the Treasury said December’s number is lower than the 26.7-percent year-on-year growth in outstanding debt in the previous year “due to better fiscal performance and lower financing requirements.”

The country’s debt-to-GDP (gross domestic product) ratio stood at 60.5 percent, rising from 54.6 percent in the previous year and slightly higher than the 59.1 percent projected by the government for 2021. The internationally-accepted threshold for emerging markets, including the Philippines, is at 60 percent.

The Treasury department maintains the ratio was “still within the accepted sustainable threshold as the economy continues to recover from the effects of the pandemic.”

Of the total debt stock, majority

or 69.7 percent, was sourced locally while the rest were owed to foreign lenders.

Domestic debt as of end-December 2021 slipped to P8.17 trillion, lower by 3.2 percent from P8.44 trillion in the previous month on the back of the repayment of the P540billion provisional advance from the Bangko Sentral ng Pilipinas. That amount outpaced the net issuance of government securities.

Year-on-year, domestic debt jumped 22 percent from P6.69 trillion in 2020.

The Treasury said the domestic borrowing program favored domestic issuance as such mitigated foreign-exchange risks and supports local capital market development.

Meanwhile, a weak peso led to external debt reaching P3.56 trillion in

the last month of 2021, up by 1.9 percent from the P3.49 trillion lodged in November last year. The increase was attributed to the impact of peso depreciation against the greenback amounting to P40.87 billion and the net availment of external obligations amounting to P33.83 billion.

“These more than offset the effects of adjustments in other foreign currencies amounting to P6.89 billion,” the Treasury said.

External debt also grew by 14.8 percent from P3.1 trillion in December 2020.

Meanwhile, total guaranteed obligations amounted to P423.92 billion, up by 1.5 percent from P417.85 billion but lower by 7.5 percent from P458.35 billion in December 2020.

Guaranteed debt was higher month-on-month, with the Treasury

pinning this on the net availment of domestic guarantees amounting to P5.99 billion and on the effects of peso depreciation against the US dollar amounting to P2.68 billion.

Government officials have signaled that the amount of money it owes would further balloon to P13.42 trillion by the end of this year. The government also earlier projected the debt-to-GDP ratio—a comparison of what the country owes with what it produces—to peak at 60.8 percent this year.

Such fiscal scenario prompted Finance Secretary Carlos G. Dominguez III to announce in November last year that he’s reviewing the viability of pursuing a “fiscal consolidation plan” to bring down the government’s debt and budget deficit levels.

Next prex must tax the rich to fund services–Salceda

By Jovee Marie N. dela Cruz @joveemarie

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ouse Committee on Ways and Means Chairman Joey Sarte Salceda said the replacement to President Duterte needs tax the rich so that government would have enough funds for debt payments and adequate social services.

In a statement issued last Tuesday, Salceda said the next President will almost certainly push for one round of tax reforms within the new Chief Executive’s first year in office to make sure there’s enough cash in government’s coffers.

“The rich have gotten richer during the pandemic, and this is common experience,” Salceda said citing a study on the effects of five pandemics between 2003 and 2016.

According to Salceda, the study he didn’t name found that “on average, income inequality in affected countries increased over the five years following each event, with the effect being higher when the crisis led

to contraction in economic activity, like Covid-19.”

“So, our next round of tax increases will have to fall on the wealthy,” the lawmaker-economist added.

Salceda believes that in terms of debt, the Philippines is “still on strong footing.”

“But the margin for error grows less when you have the kind of fiscal space we have. That is why the Committee on Ways and Means does all it can to improve both tax policy and tax administration. We have changed about as much in tax laws as we did in tax administration.”

The lawmaker further explained that the Duterte administration “is poised to become the best tax collector as a share of GDP [gross domestic product] since [President Fidel V.] Ramos.”

“If our tax policymakers in the next government can sustain the kind of tenacity and decisiveness with which our committee did tax reform, we should be in a much better position to deal with our debt,” Salceda said.

National government’s outstanding debt went down to P11.73 trillion as of end-December 2021 from P11.93 trillion in the previous month due to net redemption of government securities, according to the Bureau of Treasury.

Key points

SALCEDA also recommended that government focus on three key points to manage the country’s debt levels.

“First, we should be investing more in long-term, growth-creating programs than our debt payments.

Doing so means we are putting more money in things that will help us pay debt in the future. Thus, our infrastructure and long-term investments should be bigger than debt payment,” he said.

Salceda explained that capital outlays for Fiscal Year 2022 is 1.019 trillion, or 20.3 percent of the national budget, or around 5.6 percent of GDP. Debt service will be 5.9 percent of GDP, on the other hand.

“On that front, we clearly need

to bring our long-term investments back to a healthy level versus our debt,” he said. “I am reassured by the statements of all major presidential candidates who want to keep the Build, Build, Build program.”

Second, Salceda said the government should do its best to keep interest payments low.

“The current Treasurer of the Philippines has been very successful at keeping the average interest rate on government debt very low–with or without crisis,” he added. “One thing to watch is the appointment of the next National Treasurer by the next President.”

Third, Salceda said the government should keep an eye on the schedule of debt payments.

“The first big bond redemptions we are making is in 2024 and 2025, with around P60 billion at each round,” the lawmaker said. “Mind you, we have a big personal income tax cut coming in 2023, at around 5 percent of the average worker’s income.”

Wall Street’s banks split on number of Fed hikes

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CONSUMER ARMOR Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno called

for the immediate passage of the Financial Consumer Protection Act, which he said will provide “an armor of protection to all financial consumers.” During a recent Senate deliberation, the Governor explained before the Committee on Banks, Financial Institutions and Currencies that the FCPA will authorize financial regulators like the BSP to enforce prudent, responsible and customer-centric standards of business conduct. Under the proposed measure, financial regulators will have adjudicatory authority to conduct hearings on consumer complaints, reducing the need to go through the legal system. CREDIT: Bangko Sentral ng Pilipinas

ALL Street’s big gest banks are at odds over how fast and far the Federal Reserve will raise interest rates after Chair Jerome Powell signaled it could be more aggressive than previously anticipated in tackling the strongest inflation in four decades.

With Powell declining to give specific guidance on what the Fed may do beyond indicating it will hike rates in March, economists and investors are making different judgments about the future, risking a rough ride ahead for markets.

Comments on Monday by four of Powell’s fellow Fed policy makers stressed their desire to avoid slamming the brakes too hard, which signaled little stomach for hiking rates by 50 basis points in March, but shed little extra light on their future plans.

Having previously coalesced around a forecast of four quarterpoint increases in 2022, most now agree the Fed will raise rates in March by 25 basis points, although Nomura Holdings Inc. sees the first

50 basis-point salvo since 2000.

Differences then start to widen over: how often the Fed will shift this year (three, four, five, six or seven times); which months it will move in after March; what it will do in 2023; and, where the benchmark rate will eventually peak.

There is also disagreement over when it will announce the reduction of its massive holdings of bonds, although many economists have pulled forward their date for when that happens.

A weekend report from economists at Goldman Sachs Group Inc. highlighted the difficulty in predicting the Federal Open Market Committee.

“The FOMC could hike fewer than five times if market conditions change abruptly at some point or if the economy decelerates even more than our below-consensus forecast implies,” said the economists led by Jan Hatzius. “But it could also hike more than five times in 2022 if inflation remains high enough to make continuing to hike at every meeting a natural course later in the year as well.” Bloomberg News

Claims by other financial corporations up 11.6% in Q3 2021, BSP survey bares

By Bianca Cuaresma @BcuaresmaBM

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HE Bangko Sentral ng Pilipinas (BSP) reported an 11.6-percent rise in the domestic claims of “Other Financial Corporations,” or OFCs, in the third quarter of last year.

Domestic claims of OFCs reached

P7.5 trillion in the third quarter of 2021, up from the P6.5 trillion seen in the same period in 2020, the latest results of central bank’s OFC Survey (OFCS) showed. The survey presents a comprehensive measure of the claims and liabilities of OFCs. OFCs refer to institutional units providing financial services other than banks, non-banks with quasi-

banking functions, non-stock savings and loan associations and the central bank.

These institutional units are trust entities, private and public insurance corporations, holding companies, government financial institutions (specifically government-owned or -controlled corporations engaged in financial intermediation), non-

money market funds covering unit investment trust funds and investment companies and other financial intermediaries and auxiliaries.

The BSP said the increase was primarily attributed to the higher claims on the private sector. These claims expanded by 22.7 percent in the third quarter of 2021 to P3.9 trillion from P3.2 trillion in the same

period in 2020. The increase is due to the OFCs’ higher investments in equity securities that were issued by private nonfinancial corporations and loans extended to households.

Meanwhile, claims on depository corporations also rose 0.8 percent from P1.6 trillion in 2020 to P1.65 trillion in 2021 on account of higher investments in bank-issued equity

securities and increased deposits in banks. Net claims on the central government also increased by 0.5 percent to P1.6 trillion in the third quarter of 2021 from P1.6 trillion in the same period last year.

“This was largely due to the rise in the sector’s holdings of debt securities issued by the National Government,” the BSP said.

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www.businessmirror.com.ph

Tackling 2022 with hope

By Molly Jackson The Conversation

Editor: Gerard S. Ramos

• Wednesday, February 2, 2022

Give back to your employees

SIX months ago, it was easy for many Americans to think Covid-19 was on the defensive. Vaccinations were ticking up as case numbers ticked down.

Summer sunshine made hanging out outside actually enjoyable, after a cooped-up winter of socializing with just our pods. Maybe, just maybe, Zoom fatigue would soon be a thing of the past.

Today, that optimism seems miles away. Hospitalizations are hitting new highs. Concerns about school safety amid climbing case counts have working parents and teachers on edge.

If you’re not exactly feeling hopeful about the new year, you’re not alone.

Here are five of our favorite (The Conversation) stories spotlighting resilience, healing, and yes, hope, to help you face 2022.

PHOTO BY PROXYCLICK VISITOR MANAGEMENT SYSTEM ON UNSPLASH

n ‘Work with hope’ Face it, poet and classics scholar Rachel Hadas writes: “We’re in a prolonged period of maddeningly, scarily bad news.”

But if you think that makes our society unique, think again. For as long as humans have been writing, they’ve been facing crises, learning to adapt—more than we give our species credit for—and keeping hope afloat. And readers today can draw strength from yesterday’s literature.

Whether it’s Homer’s Greek epic The Iliad or American poet Emily Dickinson, writing about resilience often shares key themes, Hadas says: learning to balance the present and the future, the big-picture horizon and the joy of small things along the way. Quoting the modern Greek poet George Seferis, she writes of the need to “put to sea again with our broken oars.” n Before healing, remembering The pandemic has robbed people not only of joy, but also of ways to process grief. As many people grasp “every opportunity to reconnect” and find new normals, others are still mourning lost loved ones, especially if Covid-19 restrictions prevented the kinds of healing and commemoration families once took for granted.

Eventually, as the pandemic ebbs, both groups can find happiness, but in different ways, writes David Sloane, who studies commemoration and mourning practices.

With normal healing interrupted, “everyday memorials” from flags and photographs to tattoos can help people “transition from the depths of the pandemic to the reopened society by offering ways for them to mourn and remember.”

As we recover, joy and grief are often mixed together, he says, but don’t let “survivor’s guilt” keep you from finding comfort. n Lean in to rituals Across cultures, rituals can mark life milestones, strengthen social ties and even promote hygiene—such as Wudu, ritual cleansing before prayers in Islam. Yet the pandemic has interrupted everyday rites like handshakes and hugs, not to mention once-in-a-lifetime events like weddings or bar mitzvahs.

But that presents an opportunity to adapt, writes psychologist Cristine Legare. People often rely on rituals to manage stress and exert control, which helps them deal with uncertainty—part of what’s so overwhelming about the pandemic.

“There are good reasons people spend time, money and energy engaging in rituals in the face of Covid-19 restrictions,” she writes. “They are essential to meeting our physical, social and psychological needs in the face of adversity.” n Hope vs optimism Hope isn’t expecting good things, psychologist Jacqueline Mattis clarifies: It’s believing they’re possible, and then creating paths to achieve them. In other words, having a plan.

She offers five strategies to actively cultivate hope: having goals, harnessing uncertainty, managing attention, seeking community and looking at evidence. Challenges like a global pandemic call for adapting, not giving up, and “uncertainty is not reason for paralysis—it is a reason to hope,” Mattis writes.

“Hopeful people do not wish—they imagine and act,” she writes, emphasizing the importance of acting in community. Research on anti-poverty activists, for example, underscores that their relationships ignited their hope and conviction, giving them “a sense of accountability, to recognize that their work mattered and that they were part of something bigger than themselves.” n Get in the flow For people still crafting their 2022 resolutions, cognitive scientist Richard Huskey has a suggestion: Add some flow.

It’s on his own list, too. “Flow,” a term coined in the 1970s by psychologist Mihály Csíkszentmihályi, is that feeling of complete absorption, or intense concentration, when someone’s thoughts “are focused on an experience rather than on themselves,” Huskey explains.

Intrinsically rewarding experiences, like those that put us “in the zone,” support mental health, well-being and resilience. In fact, a study from China shows that people with more “flow” in their lives “had better well-being during the Covid-19 quarantine.”

PHOTO BY AMBREEN HASAN ON UNSPLASH

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USED to work in a company where there was no performance bonus, nor an annual salary increase. In one town hall, the CEO said the management was looking at the company’s financial books and studying if there was a possibility of giving out either a performance bonus or a salary increase. He said it all depended on the company’s profits. One of my team members asked me, “So, for all the years I have been here, they have never made a profit?” She resigned after a month.

Richard Branson once said, “Take care of your employees and they will take care of your business.”

At the core of every organization is the people. A leader has to consider different personalities and goals so they can be united under the umbrella of the organization’s vision and mission. But let us face it, people do not go to work solely for altruistic reasons or because they enjoy the work. Much as an organization’s bottom line is profits, an employee also looks at what is in it for them.

While a good salary can answer much of what an employee expects from an organization, employees also need to understand how their work impacts the organization’s bottom line. There are several ways organizations can do that, but I think one of the effective ways is to give back to employees through performance-based incentives.

These can take the form of direct monetary payout, changes in the work environment, or anything your employees will appreciate.

But before you implement any incentive program, make sure you understand why you are doing it. This will focus your activities on a specific goal and help you reward the work attitudes and performance that you want to encourage. When

you have settled on the program objective and desired results, then set a budget for the program.

To limit your incentive offerings, listen to what your employees want in terms of incentives.

This can be done through surveys, focus group discussions, or one-on-one discussions with their managers. When you know your organization’s budget and what your employees want, you can be as creative as you want with the incentives.

The most common incentives are monetary incentives, or bonuses. A performance bonus for all employees provides a means of acknowledging everybody’s accomplishment. But you run the risk of rewarding even those who have done poorly. They might think that regardless of their work, they would still receive the same bonus as everybody else. You still need to make a distinction for those who have extraordinarily exerted effort for the organization to succeed.

In addition to performance bonuses, annual salary increases can also be offered based on agreed-upon performance measures and standards, and based on the earnings of the organization.

Industry standards and market studies can help a compensation expert in deciding how much should be given as an annual increase for employees. Organizations who use this incentive need to ensure they have an effective performance management system where people managers know how to evaluate performance fairly, and employees understand and agree with the work expectations and deliverables. Otherwise, it could lead to employee disengagement and attrition.

These bonuses should be performance-based and not a result of arbitrary deliberations. Your employees need to understand their effort is rewarded when they reach a certain level of performance. Expectations should be clear as to what constitutes a performance deserving of a bonus. These should be discussed prior to the evaluation period and could include completion of certain projects and initiatives. In order to make a fair consideration, you also need to look at employee’s job classification, tenure, contribution to the organization’s profit, and effect on company culture.

Other organizations do profit-sharing as a way

of showing their appreciation to their employees.

They set aside a certain percentage of their earnings and give it to deserving employees, or the entire work force if possible. For me, this is the best case of giving back to your employees because one way or another, everybody has contributed to the success of the organization and should be given their share.

If they are worth their salt, they will try to perform better the following year, or their peers will make sure they do. And if possible, give your employees the option to own shares in your company.

Not all incentives need to be monetary.

Understanding what your employees want as incentives gives you the option to look for other ways in giving back to your employees. One option is to provide a flexible work schedule especially if the work is output-based and the tools needed can be accessed remotely. This helps in their work-life balance and frees up time for them to attend to personal necessities without sacrificing work deliverables.

You can also provide additional time-off from work which they can use for whatever reason. I know of one organization that offers a heartbreak leave, a dating allowance six times a year, and even a stipend for an employee’s wedding reception. This organization understands what their employees want, and is willing to give back to their employees through means their employees appreciate.

Organizations can also arrange activities that employees enjoy doing. Engagement activities like company outings, family day, and sportsfest can also be a means of giving back to employees and letting them enjoy the fruits of their hard work.

With the pandemic and the limitations in gathering, organizations have become creative by bringing food packs and care packages to employees’ homes.

Others have provided options for employees to enroll in classes for their hobby or provide membership to interest groups of their choice.

Of course, you can always recognize the accomplishments of the different teams in your organization through the company newsletter or web site. But I guess the best way you can give back to your employees is when you ensure that whatever happens, you will have their best interest at heart.

Filipina breathes life into vegan shoewear brand amid the pandemic DESPITE the erratic delays in production due to the pandemic, one innovative entrepreneur determinedly pushed on with her dream: to produce vegan shoes to empower the ever-evolving Filipina.

Kat Padilla, 24, established Sebastian & Savannah, as “a conscious posh label as passionate about reshaping modern fashion as it is about sustainability and local production.”

With her emerging brand, she wishes to provide stylish footwear at an affordable price point for the everyday woman’s wardrobe—all while utilizing vegan leather, plant-based cruelty-free sustainable material which mimics genuine leather.

However, it was not a smooth journey. The Filipino-Chinese Slim’s Fashion and Arts School alumna and Fashion Design and Merchandising major at De La Salle-College of Saint Benilde encountered various production difficulties. “Four to five skilled artisans worked on our collection. But with lockdowns and quarantines being implemented, we abided by the rules for the safety of everyone, making us stop

production or work with a skeletal system,” she admitted.

She quickly adapted to the new world and even redefined her workflow.

“The pandemic affected how I communicated with my various suppliers. I no longer meet them face to face. Now I talk to them via Zoom or chat with them through the various messaging apps,” she revealed.

With this shift in almost everything we do, she has likewise learned to switch gears at a snap of a finger. “Always observe what works for you and what does not, to easily swerve to the right direction. Time and money is really important these days, that’s why we can’t afford to bet on something that’s not working or benefiting us.”

Today, the brand currently carries several series of shoes, such as The Pilot, The Krokodille, The Ofélia, The Ingrid and a selection of heels, all in various well-curated colors.

From a creative and entrepreneurial household, Padilla’s biggest inspiration is her family who provided unconditional support, no matter what. “Another thing that drives me is my passion and love for my craft.

I get so excited when my designs come to life. It’s fulfilling seeing your works out in the world, making women happy and empowering them. This is really something I look forward to doing to my heart’s content.”

She enjoys the development process the most. “It takes so long to get it right—from designing, sampling to manufacturing—and it’s so gratifying when we really nail a project. The fulfillment you fell when you see your ideas come to life, when people buy and say good reviews about your products, and of course when known establishments feature your brand in magazines or articles—it’s just priceless,” she confesses.

Looking forward to the future, she eyes Sebastian & Savannah’s expansion with upcoming partnerships and products.

When asked for advice to aspiring designers, she said, “Create something different. You won’t stand out if you offer the same as everyone else. You can’t just focus on one aspect of the business; you need to be knowledgeable in all. Build connections with inspiring people and be an inspiration yourself.”

MARGRETHE in white and brown

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SBFI holds online benefit concert for scholars

Delbros donates mobile facilities to PAF for its disaster, COVID response efforts

THE DELBROS GROUP FORMALLY DONATED TWO MOBILE COVID-19 OFFICE TO IMPROVE THE HEALTH ASSISTANCE AND DISASTER RESPONSE OF THE PHILIPPINE ARM FORCES (PAF). Present during the ribboncutting were, from left: Major General Edward Libago PAF, Commander Air Force Reserve Command; Major General Florante Amano PAF, Commander of Air Logistics Command; Jose Eduardo Delgado, Chairman of the Delbros Group; and Jose Paolo Delgado, President, and CEO of the Delbros Group.

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HE pandemic continues to profoundly affect the country as the surge in cases, driven by the Omicron variant, causes bed capacities in hospitals to be fully occupied. In a swift response to help curb the contagion and mitigate the effects of COVID-19, the Delbros Group, a pioneer in the logistics industry, donated three brand new mobile facilities to the Philippine Air Force (PAF) in a recent turnover ceremony in Clark, Pampanga.

Two of the mobile facilities are repurposed into hospital offices and are under the care and maintenance of the Air Force City Hospital (AFCH) allowing the staff to attend to the medical needs of both the military personnel and their dependents who are in need of medical services. The other mobile facility, on the other hand, is given to the Philippine Air Force Reserve Command which is repurposed into a quarantine facility where female officers of PAF can receive proper and comfortable care.

The turnover and blessing ceremony

were led by Jose Eduardo Delgado, Chairman of Delbros Group, Jose Paolo Delgado, President and CEO of Delbros Group, Major General Florante M Amano, Philippine Air Force Commander - Air Logistics Command, and Major General Edward L Libago Philippine Air Force Commander - Air Force Reserve Command.

Also in attendance were the members of the Air Force City Council of Commanders and other officers from different units of the PAF. Jose Eduardo Delgado, Chairman of the Delbros Group highlighted the relevance of the donation in strengthening PAF’s response against COVID-19, “The Delbros Group has served as an ally and supporter of government initiatives throughout our 76 years of operations and we want to continue this cause by supporting the PAF Clark Air Base hospital. Providing the Philippine Air Force with these mobile facilities will greatly help them reinforce their capability to extend humanitarian assistance and disaster response to the public.”

Meanwhile, President, and CEO of the Delbros Group, Jose Paolo Delgado, who is also conferred as Lieutenant Colonel in the PAF, commended the military branch for implementing a gender-sensitive COVID-19 response, highlighting the significance of addressing women-specific needs and how it aligns with Delbros’ own initiatives aimed at advancing gender equality in society, “We laud the Philippine Air Force for recognizing the participation, contribution, and needs of women, and we at Delbros are proud to share the same advocacies in fostering a professional environment where female employees are comfortable and empowered to speak up, contribute, and have equal opportunities to lead and advance within the organization.”

The acquisition of the new mobile COVID-19 offices is a welcome addition to the Philippine Air Force.

These facilities will replace the current makeshift open tents of the Air Force which are prone to hazards and damages brought about by environmental and weather conditions. With these facilities, not only will they improve the safety and security of the hospital’s supplies and equipment but it will also bring a new and professional look to the Air Force Covid response and uplift the morale of the personnel performing their duties.

“This is indeed a blessing and a welcome sight amid the distressing news and events currently plaguing our nation,” said Air Force Chief, Lieutenant General Connor Anthony Canlas Sr. who was also present during the ceremony, “It is good to know that we are not alone in this fight. Our collective effort will pave the way towards our recovery from this pandemic, and no single entity can see this through without the help of one another.”

Grab PH extends assistance to Cebu’s microentrepreneurs, delivery partners

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N light of the devastation brought by the recent Typhoon Odette, Grab Philippines rolls out key initiatives to help drive the ongoing recovery efforts in Cebu. These initiatives aim to (1) provide Cebuanos with greater access to basic necessities, and (2) support the recovery of local businesses and microentrepreneurs.

Cebu is key to Grab’s journey in the Philippines, and with the many challenges that the province continues to face, Grab is committed to help uplift the everyday lives of Cebuanos by leveraging its superapp strategy and platform. When Typhoon Odette hit the country, Grab immediately partnered with the Philippine Red Cross and Ronald McDonald Kindness Kitchen where users can donate to the respective relief operations through GrabPay and GrabRewards Points.

Providing greater access to basic necessities. With electricity and network reception still intermittent in Cebu, Grab continues to support its Cebuano stakeholders through the following measures: Grab has dedicated its Cebu office to serve as a support hub for driver- and delivery-partners in need of power supply and network reception for their devices.

Grab has also partnered with Phoenix Petroleum for dedicated refuelling slots for driver and delivery-partners.

In partnership with local small and medium businesses in Cebu, Grab is fullyfunding a consumer campaign offering 20 percent off on all GrabFood orders until February 2022, and will also provide affordable meal options to Cebuanos through GrabFood. These initiatives will leverage the power of the Grab platform to provide Cebuanos with greater access to a wide selection of affordable meals

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ECURITY Bank Corporation together with its Corporate Social Responsibility (CSR) arm, Security Bank Foundation Inc. (SBFI) held an online benefit concert on December 17, 2021 to raise funds for its 121 scholars under the Regalo Mo, Kinabukasan Ko (RMKK). RMKK is a scholarship program for the Bank’s guards, messengers, janitors, and agency personnel, including their children.

Now on its second year, the online concert called, “Perfect Harmony Volume 2” generated a considerable 77 percent increase in the amount raised for scholars, versus 2020. Security Bank employees, selected through a nationwide internal talent search, performed during the concert “We performed during the online concert because we wanted to dance with

Big bike is calling: Honda’s CB500F is now in PH

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ONDA Philippines, Inc. (HPI), the No.1 motorcycle manufacturer in the country, is set to amaze with yet another addition to its remarkable collection of big bikes—The All-New CB500F. Enthusiasts who are into naked bike styling will surely be impressed as this new roadster that’s legal both for highways and expressways has the looks of a sports bike with a stunning sporty performance. Additionally, its 789mm seat height makes it suitable and comfortable for Filipino riders who are looking for a big bike that they can take for on-road touring, or as an alternative vehicle for commuting.

Sporty Performance

FEED your need for speed! Its liquid-cooled, 4-stroke DOHC parallel twin, 471cc engine is euro 5 emission compliant and has an outstanding maximum power output of 35KW at 8,500rpm and maximum torque of 43.2Nm at 6,500rpm. The All-New CB500F‘s engine boasts excellent performance that you can find in top-notch bikes set to match your excitement for adrenaline and speed.

Agile Handling

THE Grab Cebu Office serves as a support hub to its driver-and delivery partners by providing electricity, network, and internet connection for their devices. while spurring the recovery of many local businesses and microentrepreneurs in Cebu.

Grab’s Cebu Operations Team continues its regular visits to MSMEs and driver- and delivery-partners to check on their needs and provide much needed support and assistance. Local businesses and microentrepreneurs in need of assistance - regardless of their affiliated platform, can reach out to grb. to/bangoncebu and Grab will immediately deploy its team to support them.

Grab driver- and delivery-partners can claim their Calamity Assistance from Grab through the GrabCare Package which also includes emergency top-up, hospital assistance, and vehicle repair assistance. A dedicated team has been activated to better facilitate the processing of applications so that partners can receive the support within days. Apart from that, Grab is also providing SIM cards with built-in data package that driver, delivery, and merchantpartners can use and top-up through the Grab Cebu Office.

“We, at Noy's, feel Grab’s sincerity

in being a partner for growth. Programs initiated by Grab since the pandemic in 2020 to ensure the safety, reliability, and growth of their riders, customers, and partner-merchants are consistent, and we experienced this first-hand when they helped us reopen our store after being destroyed by Typhoon Odette. We are thankful for Grab’s continued support to us and many local businesses in Cebu and we are hopeful that we can recover and grow with the help of Grab,“ says Ian Go of Noy’s Yellow Chicken.

“Our kababayans have gone through so many hardships - both from the pandemic and natural calamities, and we are determined to continuously help uplift their lives even during these challenging times.

We are optimistic that these initiatives will make a huge impact in the ongoing recovery efforts in Cebu, and we will continue to engage with our kababayans so that we can continuously tailor our efforts towards building a safer and more prosperous Cebu for everyone,” says Grab Philippines Country Head Grace Vera Cruz.

purpose. By bringing enjoyment to our fellow Security Bankers, we’re able to help a lot of students be one step closer to achieving their dreams,” says Shiela Abrantes and Lorn Kate Paler, members of the dance crew who were recognized as best performers of the night.

Aside from the online concert, SBFI conducted other virtual fundraising activities such as Online Bingo, Virtual Trivia Nights, and Virtual Reality Game Shows.

SBFI also formed a partnership with SB Academy to launch the Learn for a Cause campaign, where a corresponding donation to RMKK was made for every hour spent on learning by the bank’s employees.

To know more about the program and how you can support a scholar, visit bit.ly/ SupportAScholarNow.

DESIGNED and developed as an alternative for commuting, The All-New CB500F goes above and beyond the expectations of sports bike riders when it comes to agile handling.

Showa 41mm SFF-BP Up-Side Down Front Fork provides excellent control and sports riding feeling when turning and braking from high speed. 296mm Dual Disc Front Brake and Four Piston Nissin Radial Mount Caliper deliver strong and progressive braking power, keeping the rider safe. Lightweight Wheels and Swing arm deliver excellent running performance. Slipper/Assist clutch lightens up the clutch lever effort by 45 percent, but automatically locks up tight when released.

What’s more, it has advanced technology

safety features that add confidence to the rider.

The 2-channel Anti-Lock Brake System (ABS) aids the rider in braking under less than ideal conditions and the Emergency Stop Signal (ESS) notifies the vehicle behind by flashing the hazard lamp at high speed when the rider suddenly brakes. All of these are housed in a sturdy, steel diamond tube frame genuinely at par with Honda’s standard of quality.

Stylish Sport Image

TO match the top-notch engine power, Honda made this bike even more remarkable with its pleasing aesthetics that are made for every bike fanatic. The All-New CB500F has a sharp, more compact look that displays an aggressive and seductive sports naked-bike image. It has all LED lighting, a negative display LCD meter that optimizes efficiency, preventing engine drain. It’s highly recommended for bike enthusiasts who fancy naked bike styling.

Take your pick between Matte Axis Gray Metallic which looks truly stunning as an allaround ace or Grand Prix Red that’s absolutely desirable and aggressive.

The All-New CB500F is available at all Honda Flagship Stores Nationwide on January 28, 2022. For more details, visit www.hondaph. com. For other information and queries, follow the social media accounts: Facebook (Honda Philippines, Inc.) and Instagram (@hondaph_ mc) or contact (02)-8581-6700 to 6799, and 0917-884-6632.

Love alert level 22 at Discovery Suites’ Prime Steakhouse

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N February 14 and 15, all roads lead to 22 Prime, Discovery Suites hotel’s award-winning steakhouse and part of Tatler Dining Guide’s Best Restaurant List for 2022. Executive Chef Gerwin Bailon curated a lavish 5-course set dinner of Baked Oyster, Salmon Crudo,

Broccoli Soup and Sous Vide SRF Wagyu Hanging Tender. Ending your dinner on a sweet note with petit fours featuring a selection of our signature desserts.

Experience a romantic dinner of great culinary creations with Manila skyline as backdrop and with the company of the person you love most for only PHP 6,000 nett good for 2 persons. Spice it up with free-flow of wine for only PHP 1,500 nett per person or a bouquet of fresh flowers for only PHP 1,800 nett per person. Be one of the first ten (10) early love birds to confirm a reservation on or before February 7 to get a complimentary bottle of wine. Book early and avoid Valentine’s Day rush. 22 Prime is located at the 22nd floor of Discovery Suites, 25 ADB Ave., Ortigas Center, Pasig City, and is open by reservation from Tuesday to Sunday from 6:00 PM to 9:00 PM. For inquiries and reservations call +63 2 719 6822, e-mail ds-fnb@discovery.com.ph, or visit https://www.discoverysuites.com/ love-alert-level22/.

BusinessMirror

Editor: Tet Andolong

Wednesday, February 2, 2022 B7

Huge potential for horizontal projects outside Metro Manila

Amaia Scapes Bulacan boasts a strategic location in a province that is known for its booming economy and its accessibility to various key destinations.

8990 Holdings’ Pavia Resort Residences subdivision project is located in Pavia, Iloilo.

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By Rizal Raoul S. Reyes

HERE is a huge growth potential for property developers in horizontal development outside Metro Manila, according to Colliers Philippines.

The property management and investment firm urged developers to give a more serious look at the viability of launching more horizontal projects in key provinces, such as Pampanga, Bulacan, Tarlac, Cavite, Laguna, and Batangas. Despite the onslaught of the pandemic, Colliers observed take-up rates of between 89 and 95 percent for horizontal units in these locations as of the first half of 2021.

“We recommend that developers continue highlighting projects outside of Metro Manila. Developers that plan on expanding their projects should implement strategic land banking near upcoming infrastructure projects such as the South Luzon Expressway (Slex) Toll Road 4 and the Cavite–Laguna Expressway (Calax), which will likely

be operational in the next 12 to 24 months. Once completed, these projects should reduce travel time to key provinces making them more accessible to buyers,” Colliers Philippines said in its recent research bulletin.

The 8990 way Listed 8990 Holdings Inc. has a stellar record in horizontal development outside Metro Manila.In North Luzon, it had 5,389 units delivered on a 44-hectare land bank.

In South Luzon, 8990 delivered 5,539 units on a 4-hectare land bank. In the Visayas region, 8990 delivered 999 units in Bacolod/ Iloilo on a 280-hectare land bank.

Moreover, it delivered 17,674 units on a 45-hectare land bank. In General Santos/Davao, 8990 delivered

2,589 units on a 174-hectare area.

Moving forward, 8990 is also bullish not only in 2022 but also in the next seven to 10 years expecting a P165 billion in potential sales anchored on their land bank of 670.91 hectares currently appraised at P41.2 billion.

In terms of appraised value, Anthony Vincent S. Sotto, 8990 Holdings president and CEO, told the BusinessMirror Luzon is valued at P30 billion followed by Visayas with P9.8 billion and Mindanao with P1.3 billion.

“While we continue to acquire , it’s very encouraging to know that with just our current landbank we can expect to see sustainable growth for 8990 as we project an estimated P165 billion in sales. Luzon is expected to bring the most with P93 billion followed by Visayas with P67 billion and Mindanao with P5 billion,” Sotto said.

To date, 8990 has already delivered a total of 81,700 units from 65 projects in more than a decade of operations. The roughly 324,000 residents in its various projects represent an 89-percent occupancy rate.

As of the first nine months, 8990’s ongoing projects will deliver a total of 52,240 units with an

estimated sale of P95 billion once complete. Of the total, 51 percent will come from Luzon, 38 percent from Visayas while Mindanao will deliver 10 percent of the total.

“In its 17 years of existence, I’m proud to say 8990 really has shown its commitment to housing every single hard-working Filipino. When we looked at our demographic, its apparent that we also provide accessible housing to challenged demographic groups who are mostly single undergraduate females, living outside of Metro cities, are sometimes overseas Filipino workers and earning below P55,000 a month. And this is made possible by our partnerships with institutions that make financing easier for our buyers,” Sotto explained.

Since 2016, 8990 has been able to successfully migrate P17.7 billion to the Home Development Mutual Fund (HDMF). Meanwhile, Sale of Receivables Without Recourse sold to financial institutions hit P28.2 billion from 2016 to September 2021.

On target to hit P20 billion by the end of 2021 Sotto and 8990 are on cloud nine these days because of the company’s

performance.

“Our outstanding results, both for the third quarter of 2021 and for the first nine months of the year, definitely show an increase in confidence for the future from our core market of first-time homebuyers and end users.”

Sotto said half of them are actually millennials who are 35 years old and below. “Eighty nine of our units are used as primary homes.

Majority of our buyers or 64 percen earn an income of P55,000 a month,” he said.

Further, the company, as of September 2021, has a total unrealized sale of 1,680 units or P2.75 billion. Most unrealized sales will be recognized in the 4th quarter of the year.

Unfazed by the pandemic Meanwhile, Ayala Land Inc. subsidiary Amaia Land continues to push its market presence in the northern Luzon when it recently introduced Amaia Scapes Bulacan, a 20.4-hectare residential enclave that has been progressively rising on the Santa Maria-Pandi Road in Barangay Manggahan, Santa Cruz, Bulacan.

Despite the onslaught of the pandemic, Amaia Land remained

resolute and is on to upgrade the living standards of working class Filipinos by offering them new and spacious designed abodes to families who are aspiring and deserve them to have their own homes. “ Through the expansion of Amaia Scapes Bulacan, Amaia Land hopes to fulfill working Filipinos’ aspirations to live safe, secure, and comfortable lives in a wholesome community set north of Metro Manila,” the company said.

To cater to the rise in demand, Amaia Scapes Bulacan is set to open another sector this year as part of its expansion. Moreover, it will introduce new amenities such as a swimming pool and multipurpose hall.

The Single Home 80, its newest house model, is a three-bedroom unit with an average floor area of 80 sq m and a lot area of 100 sq m. Other options in Amaia Scapes Bulacan include the Multi-Pod (approximately 28-sq-m floor area); Bungalow Pod (approximately 34sq-m floor area); Twin Pod (approximately 56-sq-m floor area); Twin Homes (approximately 47-sq-m floor area); Bungalow Pod New Gen (approximately 31-sq-m floor area); and Starter Homes (approximately 50-sq-m floor area).

Home

Bahay Entablado continues singing community aimed at spreading joy

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ere’s one fun fact that anyone who loves to sing might find interesting: a research study conducted by the Royal College of Music in London in 2017 has proven that singing helps reduce stress by lowering the amount of cortisol—the stress hormone—in the body. In addition, the study also states that the effects of singing in boosting one’s happiness are even more effective when the activity is performed by a group or shared within a community.

This is probably one of the most solid proofs that explain why we as Filipinos consider a good round of videoke as something synonymous with happy moments together. With the pandemic leaving us with no other choice but to adjust to the “new normal” and the most recent changes shifting us to the “next normal,” simple bonding mo-

ments like this had to keep up with the times. The good news? We didn’t really have to let go of something as close to our hearts as singing even during these trying times. We simply needed it to evolve so that it could fit into our lives.

That’s the main rationale behind Bahay Entablado 2.0, a singing community started by leading home entertainment brand Grand Videoke (grandvideoke.com.ph), to spread good vibes across social media. Now on its second year of run, the interactive campaign once again invited talented members of the media to share some of their song numbers following the theme of LSS or Last Song Syndrome. Also doubling as a virtual singing contest, the campaign also invited renowned names in the world of theater and performance arts like Ava Santos (Freestyle), Reb Atadero (Ang Huling El

Bimbo, the Musical), and OJ Mariano (The Company) to act as mentors to the participants.

Grand Videoke, in particular, provides the same enjoyment of singing at home with its products that includes top-of-the-line features like Perfect Pitch, a voice coach feature that helps anyone sing like a pro. Moreover, the videoke unit is also designed for easy virtual sharing and connecting with friends and family via the GV Smart App—where you can send fun messages or easily save your videos to share on social media—and robust compatibility that lets up to four smartphones connect to the main unit.

Through the use of Grand Videoke and the Bahay Entablado 2.0 campaign, the brand was able to bring together a community that is focused on spreading joy and inspiration to everyone.

Sports BusinessMirror

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| Wednesday, February 2, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Reyes remains as TNT coach

By Rick Olivares

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ITH every game, the Philippine women’s football team’s confidence and belief is growing. Not even the lone loss in the group stages was enough to dampen their spirits as they felt they hung in there as long as they could.

Inside the locker room, forward Sarina Bolden, who scored the matchwinning penalty against Chinese Taipei in the quarterfinals that sent the Philippines not only to the semifinals but more importantly, to the 2023 Fifa Women’s World Cup. “I think the locker room and everyone is ‘hey, we won this game and made history on top of history.

Might as well keep going to the top and win this whole tournament,’” said the 25-year-old Bolden.

Standing in their way in the semifinals is 18th-ranked Korea which sent the Australians packing in the round of eight with a 1-nil triumph.

“We have another seeded team in Korea [in the semifinals], let’s see if we can hang with them,” Bolden said.

The No. 64-ranked Filipinas have defeated two higher seeded

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HOT REYES will remain as TNT Tropang Giga head coach despite returning at the helm of the Samahang Basketbol ng Pilipinas (SBP) men’s national team program.

The SBP announced Reyes’s reappointment as head coach of Gilas Pilipinas in a statement on Monday that said Tab Baldwin resigned to focus on the Ateneo Blue Eagles campaign in the University Athletic Association of the Philippines.

The SBP statement said the UAAP season schedule conflicts with the country’s hosting of the Fiba World Cup, prompting Baldwin to concentrate on the Blue Eagles.

With the Covid-19 pandemic expected to wane further in 2023, a return to the UAAP’s traditional first semester schedule is expected in 2023. The Fiba World Cup, on the other hand, is set from August 25 to September 10.

“Yes,” was Reyes quick reply in a texted question on his status at TNT. Philippine Basketball Association (PBA) Chairman Ricky Vargas, TNT representative to the league’s board of governors, confirmed that Reyes will remain with the Tropang Giga.

“It will be an honor to serve the country again. It is a big challenge but I cannot turn my back on the calling of my country,” Reyes said in the same SBP statement. It will be his third tour of duty as national team coach after 2012-2014 and 2016.

SBP President Al Panlilio and Chairman Emeritus Manuel V. Pangilinan said that Reyes “is the sensible choice” as Baldwin’s replacement. Josef Ramos

FORWARD Sarina Bolden and her teammates are in high spirits.

BOLDEN: LET’S WIN THIS ONE!

teams. Thailand, which the Philippines defeated, 1-0, is ranked at No. 38 by Fifa. Chinese-Taipei is ranked No. 39.

Australia, which sent the Filipinas back down to earth with a 4-0 win in the group stages, is ranked No. 11.

Only Indonesia, which the Filipinas white-washed, 6-0, is ranked below them at No. 94.

“Our belief is high, but we cannot just rely on that. We have to continue to work hard and see how far we can go,” Bolden said.

HEAVY SCHEDULE AHEAD FOR MALDITAS

THE Philippine women’s football team will have its plate full in preparation for a first-ever stint in the Fifa Women’s World Cup. This early, three major tournaments are in the radar of the Filipina booters—called the Malditas— in what is expected to be a loaded calendar for them leading to football’s grandest stage set from July 20 to August 20 next year in Australia and New Zealand.

Philippine Football Federation (PFF) president Nonong Araneta said following its stint in the Asian Football Confederation Asian Cup, up next for the women’s team is the

MILLER TIME Y BEGINS IN BEIJING

Manila hosts Rock ‘n’ Roll racing series

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HE Rock ‘n’ Roll Series adds another milestone to its enduring collection of road running events as it hits Manila’s roads on June 19, marking the first time that the series known for lining up race routes with live bands, cheer teams and themed water stations will be staged in Southeast Asia.

“We are excited to add the City of Manila to the Rock ‘n’ Roll Running Series as the first new host city in Southeast Asia,” Jeff Edwards, managing director of the Asia Region for The Ironman Group, announced on Tuesday.

Events on tap are the marathon, half-marathon, 10K and 5K races with Asics serving as the event’s title partner. Registration will open shortly. For details, visit www. runrocknroll.com/manila.

Race week will kick-off on June 17 with the Health and Fitness Expo, featuring the latest products from Asics and trends in the running industry. Runners in all levels will then take center stage on June 19.

“We are very happy and excited to host the Rock ‘n ’Roll Running Series in the streets of Manila.

We are proud to be the first city in the Philippines and in Southeast Asia to stage the event. This event

marks the conclusion of our 450th founding anniversary celebrations on June 24,” Manila Mayor Isko Moreno Domagoso said.

The event is the world’s largest running series annually held in various countries around the world.

Put up in 1998, the Rock ‘n’ Roll Running Series’ simple idea of making running fun has transformed both the US and global running landscape by infusing the course with live bands, cheer teams and entertaining water stations, creating a block-party atmosphere for participants and spectators alike.

The races will fire off in front of the Rizal Park and will pass through streets, buildings, churches and parks, including the National Museum, Manila City Hall, Kartilya ng Katipunan and the walled city of Intramuros, before eventually making their way to the finish line with the musically-themed event to be amped up by on-course bands and DJs.

MANILA Mayor Isko Moreno (third from right) and Vice Mayor Honey Lacuna (right) show a pair of symbolic Asics running shoes for the city’s hosting of the event at the Bulwagan Rodriguez at Manila City Hall recently. Also in photo are (from left) Princess Galura, President and General Manager of The Ironman Group; Filipina “Bhaby” Lorenzo, Footwear Division Head of Sonak Corp., official distributor of Asics; Sonak Corp. president Kabir Buxani; and Manila Councilor Yul Servo.

Nadal’s 22nd Slam very makeable RAFAEL NADAL made tennis history on Monday (January 31) partly because of Novak Djokovic.

Don’t get me wrong. Nadal rightfully deserves the feat.

But before winning the Australian Open in an epic five-setter lasting nearly five-and-a-half hours, Nadal got

Southeast Asian Games in Hanoi, Asean Football Championships in Manila and the Asian Games in Hangzhou.

“These are the three tournaments lined up for our team as part of the preparations for the World Cup,” Araneta told Tuesday’s virtual Philippine Sportswriters Association Forum where he was joined by his secretary general Atty.

Ed Gastanes.

The lady booters made history on Monday when they clinched a first ever berth in the Women’s World Cup after pulling off a dramatic 4-3 win over favored Chinese Taipei via penalty shootout during the quarterfinals of the ongoing AFC Asian Cup in Pune, India.

Other than organizing the training preparation the lady booters need to undergo for their biggest campaign ever, the PFF also has to deal coach Alen Stajcic’s stint with the team.

The 48-year-old Australian’s contract with the national squad is expiring at the end of the AFC tournament.

“We have to talk to coach Alen because, of course, he has brought the team to where it is now,” Araneta told the forum presented by San Miguel Corp., Philippine Olympic

ASA MILLER adjusts his ski as members of the US women’s hockey team pose for a picture.

By Josef Ramos

ANQING, China—Asa Miller’s in China only for a little over a day but put his skis on and tried out Xiaohaituo Mountain’s slopes on Tuesday morning.

Miller’s objective is to acclimatize and shake off jet lag the soonest with his competitions in the Beijing 2022 Winter Olympics set in 12 days.

With his dad Kelly setting off for training, Miller immediately felt excitement over donning the country’s colors in the biggest snow sporting event in the world.

“I’m certainly inspired by all the people that I represent so I hope I can represent them with all the best I can,” the 21-year-old two-time Winter Olympian Miller told BusinessMirror.

“I’m very, very proud to be representing the Philippines once again. I hope to embody all the values that our country brings and share that with the people I meet here,” said the 5-foot-8 Miller, who’s seeing action in his second straight Winter Games.

Miller’s campaign in giant slalom are set on February 13 and the slalom three days later.

Miller wound up in 70th place among 110 skiers in giant slalom in his Winter Olympic debut in Pyeongchang 2018 and he’s focused on improving in these Games.

“We will have training sessions everyday starting today [Tuesday] to learn more about the snow and the hills,” he said. “My skiing has improved and I think I will do better than before.”

Kelly Miller said day one of training for his son went well.

“Our training day is completed. It was a success,” he said. “’Got used to the snow surface and Asa is skiing really well already.”

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weighed down by colossal coups that nearly wiped him out of the year’s first major without lifting a racket.

The gods of the game may have butted in again?

First, he was practically unfit for a Slam appearance two months before the Aussie Open blasted off some two weeks ago because of a chronic foot injury that virtually rendered him immobile for the most part of 2021. He was so much in pain that he had actually seriously thought of retiring.

Second, he caught the Covid-19 virus only last December, further hearing voices behind his head that it was really time for him to quit. But after somehow recovering fast from the virus infection, he reconsidered.

Third—and this was the turning point in Nadal’s staraligning appointment with destiny—Djokovic was barred from entering Australia for being an unvaccinated visitor.

With Djokovic getting deported back to his home country Serbia on the eve of the Aussie Open, that, somehow, opened doors for Nadal.

And Nadal promptly jumped the gun and gate-crashed the party.

Everybody knows that with the absence of the injured Roger Federer of Switzerland, the natural choices to contest the trophy were Nadal and Djokovic. Not only because both shared the record 20 majors each had won with Federer but also because pundits were one in saying either Nadal or Djokovic would prevail. Pundits rarely miss in their predictions.

I’m not saying Daniiel Medvedev was not a worthy finals opponent for Nadal.

Before forging the championship match against Nadal, Medvedev was the ferocious Russian juggernaut who routed Djokovic in straight sets to win the US Open, the year’s last major in 2021.

Seeded No. 2 in the 2022 Aussie Open against No. 6 Nadal, Medvedev stayed true to his ranking as he raced to a 2-0 lead on the strength mostly of his big serve.

But, alas, Medvedev’s imposing 23-3 lead in aces made meant nothing in the end in the face of Nadal’s impeccably improbable shots and indomitable fighting spirit.

And so, despite his suspect 35-year-old legs, Nadal, 10

Committee, Milo, Amelie Hotel Manila, Braska Restaurant, Unilever and the Philippine Amusement and Gaming Corp. with social media and webcast partner Prime Edge.

“We want him to continue until probably the World Cup next year,” he said. “Whatever it takes for us to get him.”

Gastanes noted how competent Stajcic is, pointing out the two-time World Cup coach has a complete staff of a fitness coach, analytics, assistant, video coordinator and a ground coach.

“He’s no ordinary coach, he’s one of the best women coaches in the world,” Gastanes said.

The PFF is not getting ahead of the story though, and knows there’s still a job to be done in the Asia Cup where the Malditas are in the semifinals for the first time. They will be up against regional power South Korea in the semifinals on Thursday.

“We have to be realistic with our chances against Korea,” admitted Araneta, noting the Koreans stunned Australia in the quarterfinals, 1-0.

“But the semifinals are entirely a different thing—because of what happened on Monday,”Araneta said.

“Their confidence has gone so high after they proved they can compete

The National Alpine Skiing Centre is a breath-taking venue and to get to the top of the mountain, one has to take a half-hour cable car ride. Athlete will take seven runs on steep snowcovered slopes covering a distance of 9.2 kilometers with a vertical drop of 900 meters.

Miller is the country’s lone athlete in these Winter Games but is no alien to international competitions. He was a lanky 16-year-old when he first competed overseas at an International Skiing Federation competition at the Perisher Ski Resort in Australia in 2016.

He placed a modest 25th.

The Millers arrived here on Monday morning and are bound to make the most out of the 14 day window before the competitions.

ASA MILLER INSPIRES

ASA MILLER’S stint at the Beijing Winter Olympics should open the doors for more Filipino athletes making it to the Games.

“Definitely, in the next Winter Olympics, we will have more entries,” said Bones Floro, chef de mission of the lean Philippine delegation to Beijing where temperature has plummeted to -10 to -15 degrees this week.

Floro said the Philippine Ski and Snowboard Federation headed by Jim Apelar is trying very hard to further promote winter sports among Filipinos, who broke the ice in 2014 when figure skater Michael Martinez vied in the Sochi Winter Olympics.

“The number’s growing,” Floro told Tuesday’s online Philippine Sportswriters Association Forum from the Athletes Village in Yanqing, China. “In snowboard, from one athlete they have around eight to 10 now. They’re getting there. We also have speed skaters now.”

Floro said Miller is in high spirits and has started training on Tuesday.

“He’s very positive and very passionate and very proud,” Floro told the forum presented by San Miguel Corp., Philippine Olympic Committee, Milo, Amelie Hotel Manila, Braska Restaurant, Unilever and Philippine Amusement and Gaming Corp.with social media and webcast partner Prime Edge.

“He’s been excited for the last four years. He prepared for four years. He’s more prepared now. He has grown and he has matured. He said his equipment is first-rate,” Floro said.

years older than Medvedev, stunned even Father Time in authoring his career’s biggest comeback, winning 2-6, 6-7 (5), 6-4, 6-4, 7-5.

“I gave everything and, honestly, I’m not used to these kind of battles,” said Nadal of Spain. “I’m so tired I can’t even celebrate.”

“Huge respect,” said Medvedev. “I tried my best.”

With his second Australian Open secured since 2009, Nadal became the first male to win 21 Grand Slams. His 22nd Slam might yet happen in the French Open set in May. Why is that?

Because 13 of Nadal’s 21 Slams came in the French Open—a haul that may never be surpassed, let alone equaled.

THAT’S IT Cheers to the Philippine Women’s football team for entering next year’s World Cup—a first for our country. Salutes to Sarina Bolden for the winning goal and the spectacular saves by keeper Olivia McDaniel in our historic 4-3 victory over the heavily favored Chinese-Taipei.

Mabuhay Malditas!