BusinessMirror February 13, 2024

Moody’s Analytics sees PHL keeping rates

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WORLD | A12

KHAN SUPPORTERS AND OTHER PAKISTANI PARTIES BLOCK HIGHWAYS TO PROTEST ELECTION RESULTS

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HE recent slowdown in inf lation nationwide could prompt monetary authorities to maintain key interest rates this week, according to Moody’s Analytics.

I n it s we e k ly h i g h l i g ht s , Moody’s Analytics noted that inflation in the Philippines slowed to 2.8 percent in January 2024 and 3.7 percent in December 2023.

While this was largely due to high base effects since inflation peaked at 8.7 percent in January 2023, the December 2023 and January 2024 data placed inflation within the Bangko Sentral ng Pilipinas’s (BSP) expected range of 2.8 percent to 3.6 percent.

“With inflation cooling, BSP

will hold policy rates steady when the Monetary Board meets on 14 February [which is February 15 in Manila],” Moody’s Analytics said.

With this, the think tank expects the Target Reverse Repurchase (RRP) Rate to remain at 6.5 percent. The last 25-basis-point rate hike was delivered in an off-cycle meeting of the Monetary Board in October 2023.

Based on data from the Philippine Statistics Authority (PSA), the inflation for December 2023 and January 2024 marked the lowest rate since March 2022 when inflation averaged 4 percent, the high end of the BSP’s inflation target.

Core inflation was at 3.8 percent in January 2024, the slowest core

inflation rate since the 3.1 percent posted in June 2022.

“Core inflation, which excludes certain food and energy items, cooled to 3.8 percent from 4.4 percent,” Moody’s Analytics added.

ANZ’s take

EARLIER, the Australia and New Zealand Banking Group Ltd. (ANZ Research) said the BSP may start toning down its hawkish monetary policy stance when it decides to maintain key policy rates this week.

ANZ Research expects the BSP to cut interest rates in the fourth quarter this year. It added that the Monetary Board, the highest policymaking body of the BSP, may cut interest rates by 50 basis points.

With this, key interest rates may end the year at 6 percent.

The BSP earlier said its hawkish stance remains despite commodity prices slowing to 2.8 percent, the slowest in 39 months or four years.

Based on the PSA, inflation slowed to a rate that is the slowest since October 2020 when inflation averaged 2.3 percent. This is within the BSP’s forecast range of 2.8 to 3.6 percent for January.

However, the BSP said inflation could increase anew and post an average higher than the target range in the second quarter. This, the central bank explained, is due to the impact of El Niño weather conditions and positive base effects.

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FDI NET INFLOWS DOWN 13.3% IN JAN-NOV 2023 w

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Tuesday, February 13, 2024 Vol. 19 No. 121

P25.00 nationwide | 2 sections 28 pages |

By Cai U. Ordinario

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@caiordinario

HE country’s foreign direct investment (FDI) net inflows posted doubledigit contraction in the January to November period last year, according to the Bangko Sentral ng Pilipinas (BSP).

FDI net inflows declined 13.3 percent to $7.6 billion in the January to November period in 2023 from the $8.7 billion posted in the same period in 2022.

This was despite the FDI net inflows that rose by 27.8 percent to reach $1 billion in November 2023, from the $820 million posted in November 2022.

“Notwithstanding the country’s sustained economic growth, FDI remained subdued due to the lingering impact of high inflation and low growth prospects globally,” BSP said.

Higher borrowing, financing cost

RIZAL Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort noted that high inflation increased borrowing costs/financing costs.

See “FDI,” A2

A WORKER at a rice warehouse in Divisoria, Manila, takes a break from loading rice sacks onto a truck. The Philippines is expected to import a higher amount of rice than initially estimated this year, solidifying its position as the world’s leading importer of this staple grain. According to the latest report by the United States Department of Agriculture, the projected rice import for the Philippines is 3.9 million metric tons this year, up from the earlier estimate of 3.8 million MT in January. NONIE REYES

PAGCOR’S TENGCO CITES IGL SECTOR REFORMS, REVENUE

By Reine Juvierre S. Alberto

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TATE-RUN Philippine Amusement and Gaming Corporation’s (Pagcor) top official is open to allow ing Internet Gaming Licensees (IGLs), formerly Philippine offshore gaming operators (POGOs), to keep operating in the country if they are properly monitored and regulated.

Pagcor Chairman and CEO Alejandro H. Tengco said Pagcor’s position on the issue of banning IGLs in the country

is that if Pagcor, along with the interagency task force created, sees the industry is properly monitored and regulated, then it will also be properly continued.

“From the time of the inception of POGOs, renamed to IGLs, we have already instituted a lot of measures to be able to address the different scenarios happening since 2019,” Tengco reported at the House Committee on Games and Amusements hearing on Monday.

See “Tengco,” A2

Govt housing, co-ops, UITF investors to be hit by Pifita

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ICTIMS of calamities availing themselves of government housing programs, small investors and certain cooperatives are among those who could be adversely affected by the proposed amendments to the proposed Passive Income and Financial Intermediary Taxation Act (Pifita) now being tackled by senators.

In the Senate Ways and Means Committee hearing on Monday, Committee Chairman Senator Sherwin Gatchalian said the concerns raised by various sectors will be carefully studied to prevent the amendments from adversely affecting those at the grassroots.

Among those who raised their concerns was the National Housing Authority (NHA) represented by Cor-

porate Planning Department (CPD) Manager Cromwell C. Teves. According to him, the documentary stamp tax (DST) could increase the agency’s costs by P95 million for this year alone for the 30,400 units they aim to build.

“Based on our production target for the current year 2024, with approximately 30,400 units, with equivalent value of more than P12.6 billion, requiring NHA to pay DST would entail an additional cost of approximately P95 million, Mr. Chair,” Teves said.

“We are respectfully requesting to maintain NHA exemption from DST under the Republic Act 72729 [Urban Development and Housing Act of 1992].”

See “Govt,” A2

PESO EXCHANGE RATES n US 55.9160 n JAPAN 0.3747 n UK 70.6219 n HK 7.1505 n CHINA 7.7694 n SINGAPORE 41.5547 n AUSTRALIA 36.4181 n EU 60.3110 n KOREA 0.0420 n SAUDI ARABIA 14.9106 Source: BSP (February 12, 2024)

News

BusinessMirror

A2 Tuesday, February 13, 2024

Don’t blame Charter for FDI woes, say guests at Senate hearing For his part, Sarmiento pressed the need to “unlock the potential of Filipinos” for “the country’s economy to soar high.”

He expressed “respectful reservations” on Resolution No. 6 of the House and Senate, saying there are so many pressing problems that should get priority.

Justice Carpio counseled against falling for the “false premises” that pin the blame for low FDI on the allegedly restrictive economic provisions. The fact, he said, is that “the Philippines today has one of the most liberalized regimes,” and noted how the recently amended Public Service Act (by the 18th Congress) had opened wide the ownership of key sectors to foreigners.

Generation of renewable energy was recently opened to foreign ownership by a mere Department of Energy issuance; while retail trade and banking have also been liberalized, he noted.

Carpio disputed arguments

Tengco...

Continued from A1

Cagayan de Oro Second District Rep. Rufus B. Rodriguez said IGLs are allegedly used for illegal activities, such as money laundering, illegal immigration and employment, kidnapping, and other violent criminal cases.

Tengco answered that these crimes and other criminal activities have “considerably gone down”and been addressed as the reforms Pagcor instituted have resulted in “positive gains.”

Apparently as a result of the pruning caused by the reforms, the number of IGLs decreased by 30 percent or down to 75 licensees from the

that the Philippines has the most restrictive regime compared to its neighbors, and added that land ownership is not a deal breaker for most huge foreign investors.

W hat turns them away are these things, Carpio said: the high cost of power, which for manufacturing firms accounts for 30 percent of operating expense; bureaucratic red tape; and poor infrastructure.

The second hearing led Monday

by Angara was a continuation of the Constitutional Amendments and Revision of Codes Subcommittee hearings mandated by the Senate leadership.

Angara, in his opening statement, said the discussion will be focused on the amendment that deals with public utilities and public services.

“To start off the hearing, we wish to focus on the amendment which deals with public utilities and public services under Section 11 of Article 12, the National Economy

and Patrimony,” Angara clarified.

Angara cited Republic Act No. 11659 or the Public Service Act, sponsored by Sen. Grace Poe, which was signed into law on March 21, 2022 amending the 85-year-old Commonwealth Act No. 146 by relaxing restrictions on foreigners to completely own businesses in the country.

Angara noted that under the law (RA 11659) public utility was clearly defined and distinguished from a public service and the constitutional 60/40, an equity limitation was stated to apply to the following public utilities: distribution and transmission of electricity, petroleum and petroleum products, pipeline, transmission systems, water pipelines, distribution systems and wastewater pipeline system, seaports, public utility vehicles, and for 100 percent foreign ownership to be allowed includes airports, railways, expressways, telecommunications, domestic shipping subways, among others.

295 IGLs since 2019.

These licensees, Tengco said, are “not perfect” but based on their monitoring since the last quarter of 2023 to January criminal activities have been reduced significantly.

With all the incidents involving IGLs, Tengco said a task force was formed, composed of the Philippine National Police (PNP), Department of Interior and Local Government (DILG), Department of Justice (DOJ), Bureau of Immigration (BI) and other agencies together with Pagcor to address all these problems.

All IGLs were declared on probationary status last September and were required to re-apply for licenses. This, Tengco said, enabled them to filter who were the “worthy players or licensees” in the industry.

Tengco added that from 2019 until 2021,

the majority of licensees consisted of Chinese corporations. However, as the industry continued to evolve, the trend reversed in 2022 as more licensees came from other countries, such as Singapore, Malaysia, the United States, and European countries.

This created a “new class of licensees” called the SBPO or “Special Class of BPO (business process outsourcing)” who were granted licenses to provide service to licensed gaming operators abroad, according to Tengco.

Currently, there are 15 licensees under this class.

“We believe that so many Filipinos [are] involved or working for the BPOs [that] are gaining from all of these,” he said.

Almost 70,000 Filipinos are currently working in the IGL sector, Tengco told reporters earlier this year.

Continued from A16

Open for business–Poe

POE said, for her part, the Philippines has made strides in opening up the local economy. She maintained that the country is already “open for business” through RA 11659, and other existing laws allowing foreign investments into the country.

Having shepherded the amended PSA in the Senate during the 18th Congress, the Committee on Public Services chairperson said the PSA addresses the objectives of the proposed amendments to the 1987 Constitution’s economic provisions without having to tweak the country’s Charter while protecting the Filipino interest and national security.

“We have opened up our economy. We have done so without violating or amending the Constitution.

We did not need to convene a Constitutional Commission, Constitutional Assembly, or a fake People’s Initiative,” Poe said in a mix of Filipino and English.

Pagcor’s revenues from the sector rose to P5 billion in 2023, higher than the P2.9 billion it recorded in the previous year.

Pagcor’s revenues from the sector rose to P5 billion in 2023, higher than the P2.9 billion it recorded in the previous year.

In 2023, Pagcor’s revenue reached P79.37 billion, higher than the revenue it posted in 2022 at P58.96 billion, noting the rising electronic games and licensed casinos’ earnings to its growth. (See: https://businessmirror.com. ph/2024/02/02/pagcors-2023-revenueup-34-63-to-p79-37-billion/).

‘Patronatos’...

Continued from A16

They appealed to Tulfo to research further on the “importance of CAF/Patronato and their functions, purposes and services,” working under a system sanctioned by the Italian government for years.

“We regularly pay taxes and contributions f rom our businesses and respond to the bureaucratic requirements of the Italian government to continuously operate and assure that services we are offering are well-provided not just to our fellow Filipinos, but also to Italian and other nationalities.

We send diligently our remittances to support and provide for our families in the Philippines from what we earned from our businesses not as an OFWs,” Mapa’s letter added.

“During the session we heard [DFA] Usec Eduardo De Vega said that he had issued a mandate to Consul General Elmer Cato to ‘Disassociate from Patronatos!’coming from the directives of Ambassador Nathaniel Imperial,” the Mapa recalled from the February 7 hearing.

“This order is unjust, discriminatory and degradable on our part. The order makes it appears that all CAF/Patronato are criminals taking advantage of our clients. and doing unlawful services for our clients,” it added, stressing that “not all CAF/Patronato are like ALPHA Assistenza SRL, and a few others involved in fraudulent activities.”

De Vega, they said, “stayed only for a day in Milan” when he met with Cato and some of the complainants against Alpha, while Imperial “has never visited Milan,”said Mapa.“Both could not have been able to have a solid grasp of the issue at hand.”

The CAF/Patronato—for Centro Assistenza Fiscale-Tax Assistance Center— aims to assist taxpayers with tax obligations, such as the tax return or the ISEE (Economic Income Indicator Equivalent which is the basis of all gov’t aid and bonuses),” explained Mapa to the Senate panel in its letter.

In the February 7 hearing, senators learned that key officers of Alpha had flown abroad, amid the filing of a total of 92 complaints involving 219 victims and a total amount of 338,100 euros, or over P17 million, scammed.

Alpha’s Krizelle Diane Respicio had already flown to Saudi Arabia from Manila in December, they learned.

Hontiveros expressed hope that the long arm of the law could catch up with Alpha Assistenza, against whom a total of 92 complaints have been filed before the Office of the Public Prosecutor in Milan, as reported by Consul General Cato. His earlier proposal to tap an Italian lawyer for the victims was approved by the Department of Foreign Affairs.

In the case buildup before the Milan prosecutor, Respicio and John Dutaro were accused of collecting about 338,000 euros (P17,230,805) from 102 Filipinos in Italy who represent 219 aspiring Filipino workers in Manila, in exchange for promises of nonexistent jobs.

Butch Fernandez

www.businessmirror.com.ph

FDI...

Continued from A1

“[This] made investments more expensive locally and globally, thereby reducing investments/ FDIs in earlier months, especially in May-June 2023 and again in September 2023,” he noted.

Meanwhile, BSP traced the improvement in FDI net inflows in November 2023 to the 57.8-percent expansion in nonresidents’ net investments in debt instruments to $897 million from $568 million a year ago.

BSP explained that net investments in debt instruments are composed of intercompany borrowing and/or lending between foreign direct investors and their subsidiaries and/or affiliates in the Philippines.

“The remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries/associates in their resident direct investors, i.e., reverse investment,” BSP said.

Meanwhile, nonresidents’ net investments in equity capital (other

Govt...

than reinvestment of earnings) and reinvestment of earnings contracted by 52.5 percent and 8.1 percent to $85 million from $180 million and $66 million from $72 million), respectively.

The data also showed equity capital placements during the reference month emanated largely from Japan and the United States.

These were channeled primarily to the country’s manufacturing, real estate, and construction industries.

BSP said FDI include investments by a nonresident direct investor in a resident enterprise whose equity capital is at least 10 percent.

It also includes investments made by nonresident subsidiary/associates in its resident direct investor and can be in the form of equity capital, reinvestment of earnings, and borrowings.

The BSP FDI statistics are distinct from the investment data of other government sources. The data covers actual investment inflows.

Continued from A1

Teves explained that since NHA will provide funding for the housing construction for these families—mainly informal settlers and calamity victims—the DST will initially be shouldered

by NHA and then passed on to these families.

In the meantime, in order to defray the cost of the DST, the NHA would have to reduce the number of houses it will construct annually by over 200 units across various housing programs.

In terms of recovering the DST, Teves said, the NHA may have to wait for 30 years to get back the taxes it paid on behalf of the housing beneficiaries as the maximum term length of repayment for these housing units is three decades.

Based on the NHA estimate, the DST will increase the cost of housing projects. For 26-squaremeter units, the current price is P716,000 but with the DST, this will increase the cost by P5,370 to P721,370.

The cost of the DST to be paid increases as the size of the housing units increase. For the 28-squaremeter unit, the cost right now is P816,000 but with the DST, this will increase by P6,120 to P822,120.

“I am very biased to extending help to our grassroots constituents, especially those who are in need; for example, the calamity victims.

Even though it’s a small portion, it might send the wrong signal to our constituents. So we’ll study this very carefully,” Gatchalian stressed.

UITF investors

MEANWHILE, small investors such as those investing in Unit Investment Trust Funds (UITFs) may also be adversely affected by the proposed amendments to the Pifita. Currently, there are over 100 UITFs operating nationwide.

Trust Officers Association of the Philippines (TOAP) President Steven C. Te said at Monday’s hearing that paying DSTs may discourage investors, including those with UITFs, which allow investments of as low as P5,000.

Te said the proposed amendments include a DST rate of 0.75 percent of the par value of shares of stock and on collective investment schemes. UITFs, Te said, is a collective investment scheme.

“Therefore, the proposed DST rate of 0.75 percent on units of participation or UITF is onerous to the investors. This additional cost expense will deter the smaller investors from participating in UITFs,” Te said. “A DST will certainly curtail the investors appetite for UITFs or activities which will consequently, negatively impact the capital market.”

Te also noted that the underlying securities in UITFs have already been subjected to DST. This includes deposits, government securities, equities, and corporate bonds.

He said that while technically this cannot be deemed double taxation, it would have the same effect on UITF investors.

He said a DST, which is currently not imposed on UITFs, will then have to be deducted from the net asset value of these investments along with withholding tax and management fees, among others. “ I mposi ng a doc u ment a r y stamp tax will form part of the expenses and will therefore reduce the net asset value of that investment which would tranlate to the investor reducing its ROI [Return on Investment],” Te said.

Gatchalian for his part recognized that investments are important for the government’s financial inclusion goals. He said there is a need to encourage Filipinos to save and invest as these are low at the moment.

Meanwhile, Ma. Lourdes P. Pacao of the Cooperative Development Authority (CDA) raised concerns regarding the impact of the proposed amendments to the Pifita that would adversely affect credit surety fund (CSF) cooperatives.

The proposed amendments under Senate Bills 1347 and 1364 removed the tax exemption granted to CSF cooperatives under Republic Act 10744 which created these cooperatives and took effect only in 2016.

“If this law will be repealed, the credit surety fund cooperatives which are starting now would be adversely disadvantaged. They are barely starting (to benefit from their) tax exemptions (which are) detrimental to the program. With this, Mr. Chair, we strongly oppose the inclusion of letter V in section 38 of SB 1364 and 1347,” Pacao said.

Pacao explained that CSF cooperatives are Local Government Unit (LGU) partnered cooperatives. They can secure loans, which should finance incomegenerating projects, from banks using their credit surety fund as collateral.

The loans they obtain from banks are used by micro, small, and medium enterprises (MSMEs) who are members of the cooperatives.

There are also nongovernment organizations who are part of these cooperatives.

The CSF cooperatives was the brainchild of the Bangko Sentral ng Pilipinas (BSP) and was subsequently institutionalized through Republic Act 10744 in 2016. Currently, there are 39 CSF cooperatives. Cai U. Ordinario

Tuesday, February 13, 2024

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

DENR pressed to lead nationwide drive against illegal lead smelters

By Jonathan L. Mayuga @jonlmayuga

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EDERATION of Philippine Industries (FPI) chairman Dr. Jesus L. Arranza asked the Department of Environment and Natural Resources (DENR) to continue cleansing the country of environmentally destructive lead smelters following a crackdown against the illegal activity in San Simon, Pampanga recently.

He also asked local government units (LGU) to exert extra effort to help stop the nefarious trade, saying unscrupulous businessmen are setting up shop in other areas.

Illegal smelting of lead in used batteries poses serious health risks to communities and can cause serious environmental problems, Arranza said.

He explained he came to know about the problem when residents in a San Simon, Pampanga village complained about the poisoning of their river by the hazardous chemical. (See https://businessmirror. com.ph/2024/01/24/closure-of-polluting-firms-in-pampanga-town-pushed/) According to Arranza, before operating such a business, the proponent should get a proper permit and training for their employees, as well as an adequate facility for disposal of wastes.

“They operate without permits and licenses from the national and local governments,” Arranza said at a news briefing in Quezon City.

The case in San Simon, he said, “is a good example of how local and national government agencies could effectively team up to stop unscrupulous businessmen from wreaking havoc to the environment and the health of the surrounding communities.”

“May this be the start of a thorough cleansing of environmentally destructive lead smelters and ULAB [used lead acid battery] recyclers in other parts of the country,” Arranza said.

Last February 8, upon the mandate from the Office of the President, the DENR through Secretary Ma. Antonia-Loyzaga and DENREnvironmental Management Bureau Region 3 Director Marvin Jose D. Despi, and Pampanga Governor Dennis Pineda, and Vice Governor Lilia Pineda, through Provincial Environment Office Head Engr. Arthur Punsalan, the municipality of San Simon implemented the closure order against Chilwee Metallic Manufacturing Corp., Energetically Battery Manufacturing, Ecoseal Metallic Manufacturing Corp., Ecometallic Co., and 5th Resources, all located inside the Global Aseana Business Park in San Simon.

Their facilities were padlocked and sealed with stickers and streamers based on the cease and desist orders (CDO) issued against them. The CDOs were issued following the inspection conducted by the joint teams of the DENR and the local government headed

by Despi, Punsalan, and San Simon municipal

department heads.

The joint team confirmed the alleged violations made by these companies, including the failure to have the proper facilities mandated by several laws to operate as lead smelters and recyclers of ULAB, including RA 8749 (Clean Air Act), RA9275 (Clean Water Act), and RA6969 (Hazardous and Nuclear Wastes Act).

“We convey our utmost gratitude to President BBM, Secretary Yulo-Loyzaga, Gov. Dennis Pineda, Vice Gov. Lilia Pineda, Directors Despi and Punsalan, and the municipality of San Simon for playing crucial roles in this big victory for the environment and the people of the surrounding communities.

They are indeed heroes of the environment,” Arranza said.

Arranza called on other LGUs to follow the good example set by Pampanga in being vanguards of the environment and their constituents.

He said reports reaching the FPI showed that there are also several unregulated lead smelters and ULAB recyclers in areas like Valenzuela, Tondo in Manila, Tarlac, Cavite, Cebu, and Davao, among others. Also, he noted that the padlocked companies in San Simon could just resurface in other areas using different corporate names.

“With a strong mandate from the President and Secretary Yulo-Loyzaga, we are confident that the entire country would be free from these types of environmentally destructive establishments. We at the Federation of Philippine Industries commit to continue supporting the government in this campaign and help the Marcos administration rid the country of illicit trade in its various forms to shield the local industries and consumers from its ill effects, which is the primary purpose of FPI’s existence,” Arranza said.

Arranza wrote letters to President Ferdinand R. Marcos Jr. and Secretary Yulo-Loyzaga to convey FPI’s gratitude, while also seeking their help in ensuring that the victory in San Simon will be replicated in other areas where illegal lead smelters and recyclers of ULAB are still reportedly operating.

The campaign started to gain ground after the Office of the President ordered the DENR to look into this problem in reaction to the expose made by Arranza in the media that illegal smelters are operating in different parts of the country.

The DENR confirmed that indeed several lead smelters are operating without the permits and licenses required by the DENR and LGUs. The largest ones are operating inside the Global Aseana Business Park in San Simon, Pampanga.

The municipality of San Simon and the provincial government of Pampanga also acted on the complaint and conducted site inspections. The companies were then issued notices of violation and “show cause” orders that they failed to satisfactorily answer, leading to the issuance of the CDO.

Terrorist ‘amir’ behind Dec. 3 MSU bombing killed in Lanao operation

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By Rex Anthony Naval & Samuel P. Medenilla @sam_medenilla

RANKING leader of the Dawlah Islamiya (DI-MG) terrorist group, or “amir,” was “neutralized” by military units during operations in Lanao Del Sur, the Armed Forces of the Philippines (AFP) announced Monday.

Col. Xerxes Trinidad, AFP public affairs office chief, identified the neutralized terrorist leader as Khadafi Mimbesa, also known as the “engineer.”

“The efforts of the 103rd Brigade, under the leadership of their commander, Brig. Gen. Yegor Rey Barroquillo Jr., resulted in the neutralization of local terrorists and armed members of the Dawlah Islamiya in Lanao Del Sur on January 25 and 26, 2024, who were identified as perpetrators of the fatal bombing at Mindanao State University [MSU] on December 3,

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HE i nter n at ion a l community led by the United States, Australia and humanitarian organizations are sending more than $2 million (P110 million) worth of assistance to the victims of severe flooding and landslides in Mindanao.

The trough of a low-pressure area (LPA) exacerbated by the nor t hea st mon soon brou g ht heavy rainfall in Northern Mindanao, Davao and CARAGA regions from January 28 to February 28.

Massive flooding and landslides affected 1.3 million people with an estimated 352,000 people displaced, according to the national disaster agency.

International humanitarian group Oxfam Philippines said the whole town of B.E. Dujaili in Davao del Norte submerged when the two rivers overflowed and damaged the earth dike.

Based on their initial assessment, the affected families were relocated outside the Magupising

Elementary School. They need more shelter as up to five families share one tent at a time.

“Mothers have to walk around 200 meters f rom their tents to collect water for their day’s needs,” Oxfam said. “Rice farms that are expected to produce up to 200 sacks of rice have been destroyed just a month before their harvest.”

USAID, US Marines humanitarian aid to Davao

ACCORDING to the US Embassy in Manila, the US Agency for International Development (USAID) will release $1.25 million (70 million) worth of emergency food, shelter, water, sanitation and essential hygiene items to affected communities.

Nongover n ment orga n i z ations, Catholic Relief Services and Action Against Hunger, were tapped to “ensure this life-saving assistance reaches the most vulnerable groups,” the US Embassy said in a statement.

The priority beneficiaries for

2023,” he added.

Statements from a surrendered terrorist identified as “Khatab,” a high-value individual in the DIMG who surrendered to the 2nd Mechanized Brigade on February 11, confirmed initial reports regarding the death of the terror leader and mastermind behind the MSU bombing.

The decisive military operations also resulted in the recover y of nine high-powered firearms, one bandolier, four Baofeng radios, and one smartphone, Trinidad added.

The military statement did not provide any further details related to the operations.

AFP chief Gen. Romeo Brawner Jr. lauded the troops for their successful operation against those responsible for the MSU bombing and called on remnants of the group to surrender.

“Our troops will be relentless in the pursuit of those who will seek to disturb the peace. Take this as an invitation and a call to surrender now and avoid the same fate as your dead comrades,” he added.

Feted

PRESIDENT Marcos awarded recognition medals to four soldiers who were injured during a clash between Philippine Army (PA) troopers and DI-MG terrorists last month.

The President personally visited the injured troops at the Army General Hospital (AGH) in Fort Bonifacio, Taguig City on Monday.

He awarded Gold Cross Medals to two wounded troops and gave Military Merit Medals (MMM) with Bronze Spearhead Device to the two other soldiers.

Marcos also provided them and 8 other injured soldiers involved in the DI-MG operations “special

Sen. Go highlights unity amid diversity at Aguman Ding Capampangan-Davao

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T the 70th founding anniversary of Aguman Ding C a p a mp a n g a n - D av a o, Inc., held at RAM’s Restaurant in Davao City, Senator Christopher “Bong” Go conveyed his heartfelt greetings to the organization’s new officers, Board of Directors, and members.

The event, celebrated on Saturday, February 10, was a vibrant acknowledgment of Davao City’s Capampangan community’s longstanding tradition of unity and respect.

The Aguman Ding Capampangan-Davao Inc. is dedicated to preserving and promoting the rich heritage of Pampanga among

US, Australia, humanitarian groups send aid to Mindanao flood victims

By Malou Talosig-Bartolome

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this USAID assistance are single-parent households, persons with disabilities, pregnant and lactating women, the elderly, low-income families and indigenous peoples in two Davao provinces—Davao de Oro and Davao del Norte, as well as Davao City.

“We are proud to partner with the Philippine government to support the immediate needs of Mindanaoans in the areas hardest hit by the flooding and landslides,” USAID Mission Director Ryan Washburn said. “This support will help ensure that food and other life-saving supplies reach communities most in need.”

Last week, the USAID partnered with the Department of Human Settlements and Urban Development and the International Organization for Migration to distribute emergency shelters to 5,000 affected people whose homes were destroyed by flood or landslides.

The World Food Programme and USAID also helped the DSWD to transport food packs to 65,000 families.

Capampangans living in the Davao region.

In his speech, Go acknowledged the new leaders and Board Members for the term 2024-2025, underlining the anniversary as a reflection of the Capampangan spirit of togetherness and mutual support, especially for those who have made Davao their home.

He pointed out, “Sa temang ‘Respeto tamu cada metung queca tamu mga Capampangan,’ isinasalamin natin ang diwa ng pagkakaisa at paggalang sa bawat isa, lalo na sa ating mga kabalen na nagpasyang manirahan dito sa Davao City.”

Reflecting on his health-care advocacy, Go reminisced about his

Meanwhile, the US Department of Defense has tasked its Japan-based III Marine Expeditionary Force to deploy two KC-130J Hercules aircrafts and transport emergency shelter and food packs to the affected families.

The US Marines coordinated with the Department of Social Welfare and Development and the Office of Civil Defense in delivering the 15,000 food packs.

“Support to our Allies and partners, and their people in a time of need, is a non-negotiable,” US Marine Corps Lt. Gen. Roger Turner, the III MEF commanding general, said. “Working in direct coordination with USAID and the Government of the Philippines, we stand ready to support those who need urgent assistance.”

Australian, IOM partner assistance

AUSTR A LI A N A mbassador to Manila HK Yu also announced that its Embassy and the International Organization for Migration are working to support the DSWD in the distribution of 1,800 shelter tarpaulins.

The tarps have been prepositioned in Mindanao to assist families that are still affected by the floods.

efforts during former president Rodrigo Duterte’s presidency to establish the Overseas Filipino Worker (OFW) Hospital in Pampanga.

This initiative, made possible by the generous land donation from the provincial government of Pampanga, led to the opening of a 6-story, 100-bed facility in May 2022, dedicated to serving OFWs and their dependents.

To sustain and enhance healthcare services for OFWs, Go introduced Senate Bill No. 2297, which aims to institutionalize the OFW Hospital, ensuring its enduring operation through allocated funding, staffing, and equipment.

financial assistance.”

“He also assured them that his office is acting at the request of the AGH and the Camp Evangelista Station Hospital for additional equipment, allowing them to better serve the troops,” the Presidential Communications Office said in a statement.

In a separate statement, the PA said Secretary of National Defense Gilberto “Gibo” C. Teodoro Jr., Army Chief Lt. Gen. Roy M. Galido and Brawner accompanied the President during the visit.

T he i nju red sold iers were among the 3rd Scout R anger B at t a l ion t ro o p e r s t h at e n gaged DI-MG ter ror ists in a firefight on Januar y 25 and 26 in Barangay Tapurong, Piagapo, Lanao del Sur. The operation led to the killing of nine DI-MG members, including Mimbesa, who were among those responsible for the bombing of MSU. The incident, which happened during a Catholic mass at the MSU gymnasium, killed four people and injured at least 50 others.

Marcos condemned the incident as a “senseless and most heinous act perpetrated by foreign terrorists.”

“It represents a strategic move to fortify health-care support for OFWs and their families by integrating a Malasakit Center within the hospital premises, thereby streamlining access to government medical assistance,” said Go. The senator took pride in the continuous operations of Malasakit Centers, a program designed to simplify Filipinos’ access to medical assistance by bringing together services from various government agencies under one roof.

Go is the principal author and sponsor of Republic Act No. 11463, or the Malasakit Centers Act of 2019, which institutionalized the Malasakit Centers program. With 159 centers nationwide, this initiative has assisted nearly 10 million Filipinos according to DOH, demonstrating the tangible benefits of streamlined government support.

Ex-PNP chief Albayalde defends record as top cop

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ORMER Director-General Oscar Albayalde of the Philippine National Police (PNP) defended his record as the highest-ranking police officer under the previous administration.

Albayalde was appointed to that position by then-president Rodrigo R. Duterte, whose war on drugs, according to Human Rights activists, allegedly claimed the lives of 30,000.

Albayalde succeeded former PNP chief now Senator Ronald “Bato” Dela Rosa.

Albayalde disputed the number of victims, saying such figures are “highly exaggerated.” He acknowledged, however, that extrajudicial killings may have occurred before during his term, but he said the crimes were perpetrated by elements, which the police had nothing to do with.

He also denied that it was an official policy of the government to kill drug addicts and petty criminals.

Albayalde was fielding questions from officers and members of the Capampangan in Media Inc. (CAMI) at Bale Balita Thursday in Clark Freeport after being invited by the group to answer questions about his role in the war on drugs when word came out that may be planning to enter politics.

The former PNP chief said he was still uncertain whether he would file his candidacy for the mayoralty post in Angeles City or as congressman of the 1st District of Pampanga.

EX-PNP chief Oscar Albayalde

“I never tolerated summary executions,” Albayalde stressed. “In fact, I ordered the relief of all the policemen in that Caloocan police precinct, under which jurisdiction the murder of Kian Delos Santos occurred to prevent the perpetrators from hindering the investigation and influencing its outcome.”

The four policemen involved in the crime—Chief Inspector Amor Cerillo, PO3 Arnel Oares, PO1 Jerwin Cruz, and PO1 Jeremias Pereda—were tried, found guilty, and given life sentences.

A graduate of the Philippine Military Academy, Class 1986, Albayalde said the perception that he resigned from his post was not true. He said he merely went on a non-duty status, preparatory to his mandatory retirement on October 29, 2019.

He said he took that unprecedented course of action for a PNP chief to spare the police organization from the controversy arising from his handling of the drug war.

Roly Eclevia

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Tuesday, February 13, 2024

Mayor Abby: Investment in education key to Makati City’s ‘exceptional’ PISA showing

By Claudeth Mocon-Ciriaco @claudethmc3

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AK ATI City’s investment in innovative and inclusive learning inter ventions before and during the pandemic paid off following the recent “exceptional” performance of Benigno

Ninoy Aquino High School (BNAHS) in the 2022 Program for International Student Assessment (PISA).

“Considering that there had been no face-to-face classes for over two years when the test was conducted, this achievement speaks volumes of the success of Makati’s innovative and inclusive programs for our public

school students,” Makati City Mayor Abigail Binay said.

BNAHS, the only Makati public school selected to participate in the international test, was the lone public school in Metro Manila to pass Level 2.

Binay said prior to the pandemic, the city had invested P31 million for the full implementation of

Trendjacking in social media is fun, but be cautious

Project MILES (Mathematics Intensive Learning Enhancement for Students) for Grades 1 to 10 during School Year 2019-2020 following its successful pilot launch in 2018.

No fees were charged to students since the city paid for the honoraria of over 700 teachers who handled onsite and on-line sessions, the subscription

of Math software Koobits popular in Singapore, and the learning materials of students.

“Unlike some private sector-led learning interventions like MTAP which require a fee from participa nts, Project MILES promoted inclusivity as it was free for everyone who needed or wanted to hone

engage with your content? At the same time, do not strictly draw a line between what your followers find exciting and their crossinterests. When done well, trend jacking can also help you expand your market.

Oil firms roll back gas, diesel and kerosene pump prices

Be updated

By Henry J. Schumacher

I

S it always green fields and butterflies when you trend jack in social media marketing in the Philippines?

Social media marketing in the Philippines‘ success hinges on how updated you are with updates and trends that keep the public interested. Trendjacking is a social media marketing technique that joins trending memes, events, topics, and hashtags. It is a practice that can be very effective if you want your brand to stay current.

But is it always green fields and butterflies when you trend jack in social media marketing in the Philippines?

The pros of trend jacking for digital marketing in the Philippines MAYBE it’s because Filipinos are such avid social media users.

When trendjacking is executed well, it can effectively boost brand engagement. Trendjacking has several pros for brands, big or small. Here are the reasons why you should consider it for your social media marketing campaign: n It keeps you relevant to your audience. It also gives them the impression that your brand keeps up to date with the times. n It can help you reach out to new audiences. Particularly the ones who might not have heard about your brand but share

the same interest in the trend you are hijacking. n It will give you a pool of social media content! Anyone who has done social media marketing knows how hard it is to create material nowadays continuously. A trending meme can give you a few days of fresh posts if you work fast enough!

Trendjacking in in social media marketing in the Philippines is a big hit, and several brands have already proven their pull.

Most recently, a couple of brands also decided to jump on the bandwagon after one of the biggest love teams in the country confirmed their breakup. One of the most creative ones is that of a chocolate brand, which pulled a smart wordplay of one of the pair’s names needing a ‘break.’

Trendjacking done wrong HOWEVER, like any social media practice, trendjacking can quickly go wrong when executed tastelessly. One example that got a good share of criticism is an international burger chain in Austria that decided to contribute to Pride Month by launching a burger that had “two tops” or “two bottoms.”

Members and allies of the LGBTQIA+ community criticized the brand for using outdated terminologies that are not always applicable to the community.

Moreover, the burger chain was also called out for “rainbow-washing,” a criticism given to companies that do not substantially contribute to the community outside Pride Month.

In the Philippines, a motorcycle service well-known for its witty and timely social media posts was also heavily called out after trendjacking news about a 7.3 magnitude earthquake that hit Abra province. People called the brand insensitive for leveraging its post on a circumstance that caused damage to a community of people.

How to trendjack the right way THERE’S a fine line separating the good and the bad of trend jack in social media marketing in the Philippines. So, how exactly can you do it the right way? Here are some pointers you must remember if you want to try this for your next social media campaign.

Make sure your trend jacks will resonate with your audience JUST because people talk about it doesn’t mean your market will find it interesting. Will your crowd relate to it? Do they know enough about it to

their skills in Mathematics. It also helped familiarize students with elearning, making it easier for them to adapt to online classes when the pandemic struck,” she said.

Under Project MILES, students received intervention to enhance their numeracy skills through Saturday classes and 100 percent access to free learning materials locally developed by Department of Education-Makati with full funding from the city government.

Binay also cited innovative measures implemented by the city at the height of the pandemic when in-person classes had to be stopped abruptly.

T H I S sounds obvious, but with how trends come and go, you need to join the bandwagon as it is gaining traction.

Remember how the doubloon cat trend was all over Tiktok last year? Now, that phase is considered history in the platform, where trends barely seem to last a few weeks.

More than just being updated, your social media team should also work fast in creating campaigns and assets. Again, timing is key.

Keep your approach tasteful WORKING fast shouldn’t stop you from considering if joining the trend will offend anyone. A good rule of thumb is to assess if the hot topic attacks a minority or can be connected to any culturally sensitive event with a negative connotation with anything or anyone. Remember, you’re trying to be relevant, not insensitive.

Keeping it tasteful but witty KEEPING updated with the trends is a standard now in social media marketing. If you want to be at the forefront of your market, you need to be able to keep up with the pace of their changing interests.

If you want to learn to use this exciting marketing tool, there are organizations that develop social media campaigns for business owners who want to connect with their audiences using tried-andtested strategies and relevant topics that resonate well with them. If you are interested, I can connect you to a digital marketing agency that offers a complete roster of marketing products like content marketing, digital ad management, digital design creation, social media management, and web development.

I am excited about trend jacking in social media; if you want to get into this brand marketing, let me know. You can contact me at hjschumacher59@gmail.com.

A

FTER five consecutive weeks of increases for gasoline and diesel, and four for kerosene, oil companies will implement a slight price rollback starting Tuesday.

In separate advisories, they announced Monday a P0.60 per liter rollback for gasoline, P0.10 per liter for diesel, and P0.40 per liter for kerosene.

The new prices will take effect at 6 a.m. on Tuesday morning, February 13.

This was announced by Shell, Caltex, PTT, Phoenix, Seaoil, Unioil, Petron, and Total. Cleanfuel, for its part, will implement the price rollback at 12:01 a.m.

Director Rodela Romero of the Department of Energy (DOE) cited oil price volatility as reason for the price cut.

The factors, she added, that contributed to this downtrend include surge in US crude inventory; global supply growth

coming from Libya, Nigeria and Brazil; and doubts over demand forecasts as the International Monetary Fund reported that China’s economic growth would slow to 4.6 percent in 2024.

“The volatility of oil market continues last week with factors pushing the prices to go down or up but after five consecutive weeks of increases, we will be expecting a minimal rollback in the prices of gasoline, diesel and kerosene,” she said on Monday when sought for comment.

Last Tuesday, February 6, oil companies implemented a per liter increase in the price of gasoline, diesel, and kerosene by P0.75, P1.50 and P0.80, respectively. The year-to-date adjustment of gasoline, diesel and kerosene stood at a net increase of P5.15/liter, P4.40/liter and P0.85/liter, respectively.

Lenie Lectura

DPWH completes ₧84-M road projects in Nueva Vizcaya and Oriental Mindoro

T

HE Depar tment of Public Works and Highways (DPWH) on Monday said it has successfully completed two projects in Nueva Vizcaya and Oriental Mindoro amounting to a total of P84 million.

In Oriental Mindoro, the DPWH Region IV-B Director Gerald Pacanan reported the completion of the rehabilitation and improvement of Calapan South Road Jct.—Minas Road in the Municipality of Victoria.

This project, funded with P34 million under the 2023 General Appropriations Act, aimed to address the deteriorating conditions of the 1.4-kilometer road segment.

The project included the replacement of damaged paved roads, construction of road shoulders on both sides, and the application of reflectorized thermoplastic pavement markings for enhanced safety.

The completed widening and rehabilitation of the damaged road segments in Barangay Alcate now serve as an effective alternative route, reducing travel time from 20 minutes

to 10 minutes.

“We cannot emphasize enough the importance of regular road maintenance, especially along national highways that serve thousands of commuters daily, these projects ensure the safety and convenience of all road users,” said Pacanan.

Meanwhile, in Nueva Vizcaya, the DPWH Nueva Vizcaya First District Engineering Office reported the completion of the river wall project along the Magat River in Barangay Bonfal Proper.

The P50-million project, funded under the 2023 General Appropriations Act, addressed the crucial need for flood control in the area.

The flood control project features a 512-linear meter concrete structure composed of anchorage, embankment, mattresses, gabions, and spur dikes.

This barrier system serves as a defense mechanism against the overflow of Magat River, significantly protecting homes, livelihoods, and essential infrastructure along its low-lying section.

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BOC 122nd

A BusinessMirr

BUREAU OF CUSTOMS UNVEILS TO DRIVE REVENUE GROWTH,

C

ELEBRATING its 122nd founding anniversary, the Bureau of Customs (BOC), under the leadership of Commissioner Bienvenido Y. Rubio, has laid out an ambitious roadmap for this year, aiming to significantly boost revenue collection and strengthen its crackdown on smuggling activities.

The announcement came during a visit by Finance Secretary Ralph G. Recto to the BOC headquarters on January 24, 2024,

where Rubio outlined the bureau's multi-faceted approach to achieving its P959 billion collection target for 2024.

Central to the BOC's strategy is a commitment to leverage technology and modernization initiatives to enhance efficiency and effectiveness across its operations.

Rubio highlighted the pivotal role of the Enhanced Value Reference Information System (e-VRIS), an advanced risk assessment tool designed to safeguard government revenues while facilitating legitimate trade.

Additionally, the BOC is actively pursuing the implementation of an ICT-enabled clearance system tailored for express shipments, alongside the development of Customs Administrative Orders (CAO) and Customs Memorandum Orders (CMO) specific to e-Commerce, aimed at plugging revenue leakages in this rapidly growing sector.

In the ongoing battle against smuggling, Rubio emphasized the importance of bolstering border control measures through collaborative efforts with other law enforcement agencies.

BOC is working towards seamless coordination and infor-

Finance Secretary Ralph Recto and Bureau of Customs Commissioner Bienvenido R. Rubio.

mation sharing to intercept illicit goods, contraband, narcotics, and high-value commodities that pose a significant threat to revenue collection.

The full rollout of the National Customs Intelligence System (NCIS) is poised to play a pivotal role in enhancing intelligence gathering, supporting case buildup, and conducting risk profiling and analysis to effectively curb smuggling activities.

Beyond revenue generation, the BOC remains committed to facilitating trade by streamlining and digitizing customs processes.

Rubio underscored the pivotal role of the Customs Customer Care Portal in reducing face-toface transactions and promoting transparency, thereby fostering an environment conducive to legitimate trade and investment.

Reflecting on the bureau's achievements in 2023, Rubio reported a commendable performance, with the BOC surpassing its revenue collection target and recording an actual aggregate cash collection of PhP883 billion, resulting in a surplus of P9.49 billion.

Moreover, BOC garnered international recognition for its efforts in enhancing trade facilitation, while simultaneously intensifying its anti-smuggling campaign.

The seizure of some P43.295 billion worth of illegally imported and illicit goods last year underscored the BOC's commitment to upholding its mandate.

Additionally, the bureau achieved an impressive 96.99 percent digitalization rate of its customs processes, marking significant strides towards operational efficiency and transparency.

Recto commended the BOC for its exemplary performance in 2023, reaffirming the Department of Finance's unwavering support for the bureau's endeavors.

Bureau of Customs Commissioner Bienvenido R. Rubio.

As the BOC embarks on its 122nd year, the stage is set for continued collaboration and innovation as it strives to safeguard government revenues, facilitate trade, and combat illicit activities, ultimately contributing to the economic growth and prosperity of the Philippines.

On Target

UNDER Rubio’s resolute leadership, BOC has achieved yet another milestone in its commitment to enhancing the collection of lawful revenues for the country.

Preliminary reports indicate that the BOC surpassed its revenue target for January 2024, marking a significant accomplishment for the agency.

During the first month of 2024, the BOC generated an impressive P73.329 billion in revenue, exceeding the target collection of P71.779 billion by P1.550 billion, representing a surplus of 2.16 percent. This achievement not only demonstrates the BOC's

efficiency but also underscores its dedication to fiscal responsibility.

The noteworthy increase in revenue collection for January 2024, surpassing the previous year's figures by P2.738 billion or 3.88 percent, is attributed to several key factors.

These include the implementation of an improved system for determining the customs value of imported goods, strengthened border protection measures, and concerted efforts to facilitate trade.

Rubio commended the contribution of the collection districts to the agency's overall performance, emphasizing the BOC's commitment to intensified efforts in 2024. He stated: "We are committed to working twice as hard to ensure that we not only meet but exceed our year-end revenue target."

The success achieved in revenue collection during the first month of 2024 sets a positive precedent for the year ahead

d Anniversary

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www.businessmirror.com.ph | Tuesday, February 13, 2024 A9

LS COMPREHENSIVE STRATEGY COMBAT SMUGGLING IN 2024

It underscores the dedication of the BOC in contributing to the economic prosperity of the nation and highlights the agency's steadfast commitment to excellence and fiscal responsibility.

These efforts align strategically with the Bagong Pilipinas campaign of Philippine President Ferdinand R. Marcos, Jr., further cementing the BOC's role as a key driver of economic growth and stability in the country.

International Customs Day

ON January 29, 2024, Rubio reiterated the BOC’s dedication to cultivating new alliances and fostering enhanced stakeholder engagement for a more responsive, adaptive, and resilient customs administration.

This commitment was emphasized during the commemoration of International Customs Day, highlighting the agency's proactive stance in driving collaboration and innovation within the customs landscape.

Throughout the previous year, the BOC has forged strong connections not only with stakeholders but also with other agencies, organizations, and customs counterparts. Notable achievements include the signing of the Mutual Recognition Arrangement for Authorized Economic Operator (AEO) Programs among all 10 Customs Administrations of ASEAN Member States, aimed at establishing a transparent trading environment conducive to regional economic growth.

In collaboration with the United States Agency for International Development's ASEAN Policy Implementation (API), the BOC participated in training sessions to enhance its personnel's capabilities in implementing the ASEAN Customs Declaration Document.

These initiatives aim to elevate customs practices and foster synergies with other ASEAN member countries, further promoting regional integration and cooperation.

Additionally, the BOC actively engaged in various events, discussions, and assemblies throughout the previous year to bolster international relations, broaden networks, and enhance customs management through knowledge and best practice sharing.

Key gatherings included the 34th Meeting of the ASEAN Customs Procedures and Trade Facilitation Working Group and the 31st Meeting of the ASEAN Single Window Steering Committee, among others.

To optimize operational efficiency and enhance inter-agency coordination, the BOC signed several agreements with other government agencies in 2023.

These collaborations include partnerships with the Department of Trade and Industry-Strategic Trade Management Office, Philippine Drug Enforcement Agency, Philippine Postal Corporation, Philippine Economic Zone Authority, and Department of Information and Communication Technology.

Looking ahead, one of the core projects for the BOC in 2024 is the publication of an operations manual on the Authorized Economic Operator (AEO) Program, aimed at increasing stakeholder participation and supporting the World Customs Organization's key calls to action.

In reaffirming the BOC's commitment to advancing initiatives that amplify robust collaborations, Rubio pledged to remain resolute in championing economic growth and securing the sustainability of the supply chain.

He emphasized the BOC's responsibility to consistently develop new means of building stronger alliances for more progressive customs management, underscoring the agency's pivotal role in driving national development and prosperity.

Fostering Collaboration

IN A bid to bolster trade facilitation efforts, the Bureau of Customs has also spearheaded initiatives aimed at fostering collaboration between the public and private sectors.

This endeavor was

showcased during the 6th Virtual Meeting of the Output 4 Working Group under the ARISE Plus Philippines Project.

Under the stewardship of Atty.

Julito Doria, Deputy Collector of the Port of Manila (POM) and ViceChairperson of the BOC Project Team for Strengthened Trade Facilitation Capacity Building, the public-private sector working group deliberated on planned activities spanning from February 2024 to February 2025.

Key focus areas included Integrated Risk Management (IRM), the Authorized Economic Operator

(AEO) Program, and e-commerce clearance and taxation. The meeting also underscored the continued support for the operationalization of the Philippine Trade Facilitation Committee (PTFC), marking a significant milestone for both the BOC and the ARISE Plus Philippines Project.

Speaking on behalf of Output 4 Chairperson, BOC Assistant Commissioner Atty. Vincent Philip C. Maronilla, Deputy Collector Atty. Julito Doria emphasized the significance of the collaborative efforts.

"Over the past three years, we have conducted numerous work-

shops aimed at bolstering the development of the Philippine Trade Facilitation Committee. Initiatives such as the enhancement of the Authorized Economic Operator (AEO) program and the identification of an e-commerce tax regime have also been initiated. As we embark on the fourth year of this project, the BOC eagerly anticipates more meaningful and high-impact outcomes under the Output 4 Working Group,” Doria explained.

Under Rubio’s leadership, the BOC remains steadfast in its commitment to trade facilitation through its

five-point priority program.

“The collaboration underscores our dedication to streamline procedures and enable safer commerce.

The BOC is unwavering in its commitment to strengthen cross-sector collaborations to ensure the continued success of trade facilitation initiatives,” Rubio said.

Through proactive engagement and collaboration, the BOC is poised to drive transformative change in trade facilitation, fostering a conducive environment for economic growth and prosperity in the Philippines.

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

Kaspersky offers Pinoys tips for ‘safer’ viewing of NSFW, NSFL content online

By Lorenz S. Marasigan @lorenzmarasigan

A

S Filipinos have consistently claimed the title of the top viewers of adult content in Pornhub for the past four years, Kasperksy has taken on the role of educator—teaching Pinoys how to navigate NSFW (not-safe-for-work) and NSFL (notsafe-for-life) content online.

Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky, emphasized the critical need for understanding the potential risks tied to online activities.

“The kind and amount of information that we can now access through the internet is almost limitless. And many of us are happy to do things online. On the flipside, our research shows some prefer to keep those habits to themselves. In fact, many see the Internet as a place to hide,” he said.

According to Kaspersky’s study, 41 percent of people apply additional measures when browsing the internet to hide their information from the websites they visit.

The same study revealed that family members, colleagues and the government are the top three groups of people we don’t want to know certain things about us.

Yeo provided insights and practical tips tailored for Filipino users to maintain their privacy while indulging in adult content online.

He said incognito mode proves invaluable to

prevent embarrassing suggestions in the address bar. Similarly, clearing cookies and browser history can help avoid revealing sensitive information to family members.

Filipinos may also opt to use privacycentric browsers—like Firefox—that offer an effective shield against tracking by advertising networks and internet giants.

Meanwhile, implementing a Virtual Private Network (VPN) to encrypt traffic proves instrumental in thwarting internet service providers (ISP) from monitoring online activities.

Yeo also advised users to ignore scam emails claiming evidence of adult content consumption and promptly mark such emails as spam.

Opting for well-known and reputable adult content websites, downloading apps exclusively from official sources, refraining from clicking on ad links, and using protective solutions like Kaspersky Premium are also some of the measures that Yeo said Pinoys could use to safely enjoy adult content online.

“With online content at our fingertips, people will read and watch online whatever they want to.

Whichever it is, we recommend doing it safely.

Remember your digital reputation is closely linked to your personal reputation. With a stroke of unfortunate luck, your online habit or personal information can accidentally become available to others, despite your wishes. Not only would it make you a target of malware but it could end up costing you your job,” added Yeo.

Carrion out, Zozobrado in as PRA chief–Palace document

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

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ALACAÑANG moved to replace former aerobics instructor Cynthia Lagdameo Carrion as general manager and CEO of the Philippine Retirement Authority (PRA), following her reported actions that allegedly embarrassed the agency’s parent unit, the Department of Tourism (DOT), at the 2024 budget hearings at the Senate last November.

According to a document signed by President Ferdinand R. Marcos Jr. on February 7 and sent through the Office of Tourism Secretary Christina Garcia Frasco, Roberto “Bob” Z. Zozobrado has been appointed “Acting General Manager/Chief Executive Officer, Board of Trustees of the Philippine Retirement Authority, vice Cynthia L. Carrion.” A copy of the appointment paper was furnished to the BusinessMirror by industry sources and TCP members.

Zozobrado, currently president of the Tourism Congress of the Philippines (TCP), is expected to give up his posts in the private sector once he assumes leadership of the PRA, a government-owned and -controlled corporation (GOCC), mandated to promote the Philippines as a retirement haven. He declined to comment on his appointment, pending the taking of his oath of office, which has yet to be scheduled.

Formal election by Board

AS per the GOCC Governance Act of 2011, Zozobrado has to be formally elected by the PRA’s Board of Trustees as the firm’s GM and CEO. “Usually the board elects [the head], but it’s usually given that they give it to whoever Malacañang wants,” said a former tourism official, speaking on condition of anonymity.

He will then assume the rest of Carrion’s term.

The GM and CEO functions as vice chair of the PRA, which is chaired by the Tourism Secretary.

Earlier, Frasco submitted a report to Malacañang documenting Carrion’s alleged rude behavior during the Senate’s marathon plenary hearings on the proposed national budget for 2024.

The DOT chief said she also sent screen captures of Carrion’s “inappropriate” text messages to senators, such as complaints on Deputy Minority Leader Senator Risa Hontiveros’s interpellations of budget sponsors of other government agencies, which Carrion had alleged as the reason the hearing on DOT’s own budget was delayed. (See, “Board to determine PRA chief Carrion’s fate – Frasco,” in the BusinessMirror, December 21, 2023.)

Meanwhile, under TCP’s by-laws, the executive vice president, a post currently held by Alan James H. Montenegro (Chroma Hospitality), is supposed to take over the remaining term of the President. A separate source said the group’s Board of Trustees would be meeting soon to discuss the expected vacancy of their top post, following Zozobrado’s appointment to the PRA.

PHL envoy who started talks for SCS Code dies

By Malou Talosig-Bartolome @maloutalosig

F

ORMER Ambassador Lauro L. Baja Jr., who initiated moves that paved the way for the country and its Southeast Asian neighbors to open talks with China for a Code of Conduct (COC) in the disputed South China Sea (SCS), passed away Friday. He was 86.

Baja succumbed to heart attack, his nephew, also a diplomat, Philippine Ambassador to Morocco Leslie Baja told the BusinessMirror.

He is survived by his children Maria Elizabeth Baja Facundo and Lauro Baja III. “The DFA [Department of Foreign Affairs] and the foreign service lost one of its best and most accomplished diplomats,” Philippine Ambassador to The Netherlands J. Eduardo Malaya said.

Baja had an illustrious foreign service career, including becoming the President of the United Nations Security Council (UNSC) at the time when the Philippines was a member of the prestigious UNSC. Prior to that, he was the DFA undersecretary for policy and ambassador to Italy and Brazil.

“Baja served the Department and our country exceedingly well and admirably, always with wisdom and eloquence,” Malaya said.

Chief negotiator for SCS code of conduct

SINCE China’s occupation of Mischief Reef in 1995, the DFA has become the focal point in the country’s effort to prevent the situation from escalating.

As DFA undersecretary for policy matters, Baja steered the 10-member Asean and China to

agree to negotiate for a set of rules of behavior among armed forces of states claiming the SCS. Philippine Ambassador to Australia Hellen Barber-De La Vega was his principal assistant during the critical negotiations of the landmark 2002 Declaration for COC in the SCS. “What I remember about Ambassador Baja is his friendly but firm stance on negotiations; his sharp focus on deliverables in international meetings he participated in, whether as member, head of delegation or as host of the conference.

His circle of Asean Senior Officials respect him and fondly call him Larry,” De La Vega told the BusinessMirror.

“If there is anything I learned from him, it is focus, focus, focus on what needs to be done, and negotiate the best terms for Philippine interests,” she added.

CPR’s protégé

WHEN he was still a junior officer, Baja became one of the protégés of then DFA Secretary Carlos P. Romulo who later became the president of the UN General Assembly.

“Romulo plucked him out and designated him as his chief of staff [formally called Chief Coordinator], and then left practically to him the management of the Department while Romulo would be at the UN in New York every year for months on end,” Malaya said.

Despite his stature, Baja remained “humble and self-effacing and solicitous to young staff members,” including Malaya.

“He would smile and make us feel that our views mattered,” Malaya said. “He will be much missed.”

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Tuesday, February 13, 2024

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Bomb scare grips Metro, CL government offices, schools

By Joel R. San Juan | @jrsanjuan1573 and Henry Empeño

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USTICE Secretar y Jesus Crispin Remulla directed the National Bureau of Investigation (NBI) Monday to conduct a thorough investigation into the bomb threats sent through an unverified e-mail account to several government agencies and local government units.

Zambales Governor Hermogenes Ebdane Jr., in his capacity as chairman of the Central Luzon (CL) Regional Peace and Order Council, called on government officials and residents to remain calm and not over-react, as a bomb threat sent via email caused panic in several provinces in Central Luzon, resulting in classes and work suspension in some schools and government offices Monday.

“There should be no place for pranks or spreading fear among our people. Let this be a warning to those behind this that we will not tolerate such acts and we will go after you with the full extent of the law,” Remulla said in a statement.

The Department of Justice said the e-mail sender identified himself as Takahiro Karasawa, supposedly a Japanese lawyer from a certain “Steadiness Law Office.”

In the e-mail, Karasawa, reportedly a skilled bomb maker, emphasized that bombs will rock major Philippine government agencies on Monday, February 12, 2024 approximately around 3:34 p.m.

NBI probe

THE NBI has commenced its investigation into the bomb threats made through e-mail

by Takahiro Karasawa.

NBI Director Medardo De Lemos said the agency has coordinated with the Japan Police Attache, other law enforcement agencies, and emergency responders to evaluate the threat.

“Through this coordinated effort, proactive measures will be formulated and implemented to effectively address the threat,” the NBI said in a statement.

The NBI pointed out that the name Takahiro Karasawa has been associated with previous bomb threats across different countries.

It cited the September 8, 2023 bomb threat targeting the MRT-3 system being attributed to the same individual.

“This alarming pattern emphasizes the need for immediate and decisive action,” it added.

The NBI reminded the public “that threats of this nature are taken extremely seriously and will be dealt with accordingly, in full compliance with the law.”

False alarm

THE Quezon City Police District (QCPD) reported Monday the Department of Environment and Natural Resources-Central Office in Quezon City received a bomb threat.

However, it tagged the warning as a false alarm after a thorough investigation.

The Department of Education also confirmed the suspension of work ordered by the School Division of Balanga in Bataan due to a bomb threat in government offices.

However, police declared the incident a false alarm after no explosives or hazardous materials were found following a thorough search.

Too much Netflix movies

IN a statement sent to the media Monday afternoon, Ebdane said that the bomb threat received by a government office at 3:50 in the morning had spread like wildfire and caused alarm in the neighboring provinces of Bataan, Zambales, Pampanga and Bulacan.

“Some government units reacted as a result and urged residents to monitor the situation in their area. They did right, but unfortunately the report spread fast and some people panicked,” Ebdane said.

However, the governor cautioned everyone not to fall for the bomb scare.

“We should analyze the content of the threat,” Ebdane said, “because experience tells us that this kind is most probably the work of someone who is crazy and wants to sow terror in the community.”

“If you would look at the threat message closely, you’d think the author had watched Netflix movies too many,” he added.

“Let us not over-react; let us not be afraid. What would happen to us if a threat like this one causes a standstill in the government?” Ebdane added.

DMW readies illegal recruitment raps against Prague-based consultancy firm

T

HE Department of Migrant Workers (DMW) said an unlicensed Prague-based consultancy company is now facing illegal recruitment charges for deploying overseas Filipino workers (OFW) to Poland.

In a statement issued on Monday, DMW Officer-inCharge Undersecretary Bernard P. Olalia said the BELMÜN consultancy firm has been operating locally as Global Migration Training (GMT) without a valid DMW license.

Citing the investigation conducted by the DMW’s Migrant Workers Office in Prague, he noted the firm was offering factory jobs to applicants in exchange for a P165,000

“all in payment,” which includes the processing of their employment documents and visa as well as referral to foreign partner agencies.

They were also required to pay for their transportation costs going to their destination country.

“Officers and personnel of BELMÜN face serious charges of illegal recruitment committed by a syndicate which is punishable by life imprisonment and fines ranging from P2,000,000 to P5,000,000,” Olalia said.

DMW also banned officers and personnel from participating in the government’s overseas recruitment program with

their inclusion in its “List of Persons and Establishments with Derogatory Record.”

DMW, together with the Makati police, shut down Monday the office of BELMÜN located in Makati City.

Olalia urged victims of BELMÜN or GMT to contact its Migrant Workers Protection Bureau (MWPB) for the filing of cases against the consultancy firm.

“MWPB may be contacted through their Facebook page at https://www.facebook.com/dmwairtip and through their e-mail at mwpb@dmw.gov.ph,” Olalia said. Samuel P. Medenilla

A12 Tuesday, February 13, 2024

TheWorld BusinessMirror

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

Israeli forces rescue 2 hostages in dramatic Gaza raid that killed at least 50 Palestinians

By Najib Jobain & Josef Federman

R

AFAH, Gaza Strip—Israeli forces rescued two hostages early Monday, storming a heavily guarded apartment in the southern Gaza Strip and extracting the captives under fire in a dramatic raid that was a small but symbolically significant success for Israel. The operation killed at least 50 Palestinians, including women and children, according to Palestinian health officials in the beleaguered territory.

The raid was celebrated in Israel, which has been seeking the release of more than 100 captives held by Hamas and other militant groups.

But the operation also brought heavy airstrikes pounding on Rafah, the city on the southern edge of the Gaza Strip where 1.4 million Palestinians have fled to escape fighting elsewhere in the IsraelHamas war. Dozens were killed.

The plight of the hostages has profoundly shaken the nation and Israel has made freeing the dozens of remaining captives a top aim of its war, along with destroying Hamas’ military and governing capabilities. But as the war drags on, now in its fifth month, their freedom remains elusive and rifts have emerged in Israel over the best approach to end their ordeal.

Israeli Prime Minister Benjamin Netanyahu has insisted persistent military pressure will bring about their freedom, even as other top officials have opposed this idea, saying a deal is the only way

to secure their release.

Israel has described Rafah as the last remaining Hamas stronghold in Gaza and signaled that its ground offensive may soon target the densely populated city.

On Sunday, the White House said President Joe Biden had warned Netanyahu that Israel should not conduct a military operation against Hamas in Rafah without a “credible and executable” plan to protect civilians.

The army identified the rescued hostages as Fernando Simon Marman, 60, and Louis Har, 70, abducted by Hamas militants from Kibbutz Nir Yizhak in the October 7 cross-border attack that triggered the war.

They were among roughly 250 taken captive during Hamas’ stunning cross-border raid, when an estimated 1,200 people, mostly civilians, were killed, according to Israeli authorities. Israeli’s retaliatory air and ground offensive has killed over 28,000 Palestinians, according to local health officials,

SUPPORTERS of Pakistan’s Former Prime Minister Imran Khan’s party ‘Pakistan Tehreek-eInsaf’ chant slogans during a protest against alleged vote-rigging in some constituencies in the parliamentary elections, in Karachi, Pakistan on Sunday, February 11, 2024. AP/FAREED KHAN

Khan supporters and other Pakistani parties block highways to protest election results

Q

two men were thin and pale, but communicating well and aware of their surroundings. Begerano said Har told him immediately upon seeing him: “You have a birthday today, mazal tov.”

The Associated Press

UETTA, Pakistan—Thousands of supporters of Pakistan’s imprisoned former Prime Minister Imran Khan and members of other political parties blocked key highways and started a daylong strike in the volatile southwest Monday to protest alleged rigging of last week’s elections.

Thursday’s vote to choose a new parliament was overshadowed by the vote-rigging allegations, an unprecedented mobile phone shutdown, and the exclusion of Khan and his Pakistan Tehreek-e-Insaf party, or PTI, from the vote.

While election winners were celebrating victory, PTI and other parties refused to accept their defeat in dozens of constituencies.

Dozens of Khan’s supporters were briefly detained in the eastern city of Lahore over the weekend while protesting alleged vote-rigging.

Jan Achakzai, a government spokesman in the southwest province of Baluchistan, urged protesters to “show grace” by accepting defeat and moving away from the highways.

Khan could not run in the election because of the criminal convictions against him that he says

Dozens killed in strikes

THIS photo provided by the Israeli military shows an Israeli Air Force helicopter carrying two released hostages, at Sheba Medical Center in Ramat Gan, Israel on Monday, February 12, 2024.

The Israeli military said early Monday that it had rescued two hostages from captivity in the Gaza Strip. It said the two men were rescued in the southern Gaza town of Rafah and were in good condition at an Israeli hospital. ISRAEL DEFENSE FORCES VIA AP

displaced over 80 percent of the population and led to a massive humanitarian crisis.

Over 100 hostages were freed dur ing a week long cease-fire in November. Israel says about 100 hostages remain in Hamas captivity, and Hamas also holds the remains of roughly 30 others who were either killed on October 7 or died in captivity. Three hostages were mistakenly killed by the army after escaping their captors in December.

A dramatic raid

ISR A ELI militar y spokesman Read Adm. Daniel Hagari said the two hostages had been held in a second-f loor apartment in Rafah, under guard from Hamas gunmen, both in the apartment and nearby buildings.

Hagar i said Special Forces broke into the apartment under fire at 1:49 a.m. Monday, accompanied a minute later by airstrikes on surrounding areas. He said members of the rescue team shielded the hostages with their bodies as a heavy battle erupted in several places at once with Hamas gunmen. are politically motivated.

Still, candidates backed by Khan won more seats than the political parties who ousted him from power nearly two years ago, according to the final tally published Sunday.

No party won a majority, however, so the parties will have to hold talks on forming a coalition government. The new parliament chooses the country’s next prime minister.

Candidates aligned with Khan secured 101 out of 266 seats in the National Assembly, or lower house of parliament.

The Pakistan Muslim LeagueN party led by three-time premier and ex-felon Nawaz Sharif secured 75. Sharif is currently in talks with allies to form a coalition government.

The Pakistan People’s Party, or PPP, led by Bilawal BhuttoZardari, came in third with 54 seats. One result has been withheld and another vote was postponed because of a candidate’s death. The campaign to kick Khan out of office in 2022 was led by the PML-N and the PPP. Pakistan’s military has always cast itself as the ultimate arbiter of who becomes prime minister, and Sharif was marked out as the powerful security establishment’s preferred candidate because of his smooth return to the country last October.

Sharif spent four years in exile to avoid serving prison sentences but his convictions were overturned within weeks of his arrival in Pakistan.

The hostages were taken to a nearby “safe area,” given a quick medical check and airlifted to Sheba Medical Center in central Israel. Their medical condition was reported to be good. They are just the second and third hostage to be rescued safely; a female soldier was rescued in November.

Hagari said the operation was based on precise intelligence and planned for some time. Netanyahu joined Israel’s military chief and other top officials as the raid unfolded.

The rescue is a morale booster for Israelis, but it’s a small step toward winning the release of the remaining hostages, who are believed to be spread out and hidden in tunnels, likely in poor condition.

Har and Marman were kidnapped from a home along with three other relatives who were f re e d i n t he l ate - No ve mb e r deal. No other family members of theirs remain in Gaza, Israeli media reported.

Har’s son-in-law, Idan Begerano, told reporters that he and his wife were able to see the released captives at the hospital. He said the

THE airstrikes that backed up the Israeli forces hit the jam-packed Rafah in the middle of the night and dozens of explosions could be heard around 2 a.m. Dr. Marwan al-Hams, director of the Abu Youssef al-Najjar hospital, said at least 50 people were killed in the strikes, and an Associated Press journalist counted the bodies at the hospital.

Footage circulating on social media from Rafah’s Kuwaiti hospital showed dead or wounded children. The footage could not immediately be verified but was consistent with AP reporting.

The wounded were seen lying on the hospital floor as medics tried to treat them. One wounded man was on the ground with two bloodied children lying beside him. “Rescue the girl,” he screamed.

A young man was also seen carrying the body of an infant who he said was killed in the attacks.

He said the girl, the daughter of his neighbor, was born and killed during the war.

“Let Netanyahu come and see: is this (infant) your bank of targets?” he said. “For what is she to blame?” he said.

Concerns about Rafah

NETANYAHU has said sending ground troops into Rafah is essential to meeting Israel’s war goals. Biden has urged Israel to exercise extreme caution before moving in. An estimated 1.4 million Palestinians—more than half of Gaza’s population—are now crammed into Rafah, where hundreds of thousands live in sprawling tent camps and overcrowded UN shelters.

Biden’s remarks, made in a phone call with Netanyahu late Sunday, were his most forceful language yet on the possible operation. Biden, who last week called Israel’s military response in Gaza “over the top,” also sought “urgent and specific” steps to strengthen humanitarian aid. Israel’s Channel 13 TV said the conversation lasted 45 minutes.

Discussion of the potential for a cease-fire agreement took up much of the call, a senior US ad m inist rat ion of f ic i a l sa id, and after weeks of diplomacy, a “ framework ” is now “pretty much” in place for a deal that could see the release of remaining hostages held by Hamas in exchange for Palestinian prisoners and a halt to fighting.

The official, who spoke on condition of anonymity to discuss negotiations, acknowledged that “gaps remain,” but declined to give details. The official said military pressure on Hamas in the southern city of Khan Younis in recent weeks helped bring the group closer to accepting a deal.

Netanyahu’s office declined to comment on the call. Hamas’ Al-Aqsa television station earlier quoted an unnamed Hamas official as saying any invasion of Rafah would “blow up” the talks mediated by the United States, Egypt and Qatar.

Biden and Netanyahu spoke after two Egyptian officials and a Western diplomat said Egypt threatened to suspend its peace treaty with Israel if troops are sent into Rafah. The Camp David peace accords have been a cornerstone of regional stability for over 40 years. Egypt fears a mass influx of Palestinian refugees who may never be allowed to return.

Federman reported from Jerusalem.

Associated Press writers Sam Magdy in Cairo and Colleen Long in Washington contributed to this report.

Biden welcomes King of Jordan as framework for hostage deal in Mideast war to be discussed

By Colleen Long

The Associated Press

W

A SHINGTON—Preside nt Jo e Bide n i s hosting Jordan’s King Abdullah II in Washington Monday and the two leaders are expected to discuss the ongoing effort to free hostages held in Gaza, and growing concern over a possible Israeli military operation in the port city of Rafah.

It is the first meeting between the allies since three American troops were killed last month in a drone strike against a US base in Jordan. Biden blamed Iranbacked militias for the fatalities, the first for the US after months of strikes by such groups against American forces across the Middle East since the start of the Israel-Hamas war.

The meeting with King Abdullah II comes as Biden and his aides are working to broker another pause in Israel’s war against Hamas in order to send humanitarian aid and supplies into the region and get hostages out. The White House faces growing criticism from Arab-Americans over the administration’s continued support for Israel in the face of growing casualties in Gaza.

It appeared a deal for another pause in the fighting was getting close. A senior US administration

official said Sunday that after weeks of shuttle diplomacy and phone conversations, a framework was essentially in place for a deal that could see the release of the remaining hostages held

by Hamas in Gaza in exchange for a halt to fighting.

The official, who spoke on the condition of anonymity to discuss the negotiations, acknowledged that gaps remained but declined to specify what they are. The official said Israeli military pressure on Hamas in Khan Younis over the last several week s has helped bring the militant group closer to accepting an agreement. The potential for an agreement took up the majority of Biden’s call Sunday with Israeli Prime Minister Benjamin Netanyahu.

The official said the two leaders also had a significant back and forth about the potential expansion of Israeli military operations into Rafah and that Biden reiterated US opposition to the idea under the “current conditions” while more than 1.3 million people are sheltering there.

It was the most forceful language yet from the president on the possible operation. Biden, who last week called Israel’s military response in Gaza “over the top,” also sought “urgent and specific” steps to strengthen humanitarian aid. Israel’s Channel 13 television

said the conversation lasted 45 minutes.

The official said the Israelis “made clear they would not contemplate an operation” in Rafah without safeguarding the civilian population. The official said the US is not sure there is a feasible or implementable plan to relocate civilians out of Rafah to allow militar y operations to take place.

Jordan and other Arab states have been highly critical of Israel’s actions and have eschewed public support for long-term planning over what happens next, arguing that the fighting must end before such discussions can begin. They have been demanding a cease-fire since mid-October as civilian casualties began to skyrocket.

Biden had planned to visit Jordan during his trip to Israel in October shortly after the October 7 attack by Hamas, but the trip was scrapped. On his way home from Israel, Biden announced he’d helped broker the first deal to pause fighting temporarily and to open the crossing in Rafah to humanitarian aid.

In the months since, members of his administration have made repeated trips to the region to engage with leaders there.

The Associated Press writer Zeke Miller contributed to this report.

www.businessmirror.com.ph

Defense Secretary Austin hospitalized with bladder issue, transfers powers to deputy

By Tara Copp

The Associated Press

W

ASHINGTON—Defense Secretary Lloyd Austin was hospitalized again Sunday to address a bladder issue as he continues to recover from prostate cancer and has transferred authorities to his deputy, the Pentagon said.

Austin was diagnosed with prostate cancer in December and continues to deal with complications from his treatment.

At about 2:20 p.m. Sunday, he was transported by his security detail to Walter Reed National Military Medical Center “to be seen for symptoms suggesting an emergent bladder issue,” Pentagon Press Secretary Maj. Gen. Pat Ryder said in a statement.

While Austin initially intended to retain the “functions and duties of his office,” at about 5 p.m. Sunday he transferred those authorities to Deputy Secretary of Defense Kathleen Hicks. As of Sunday evening, he remained hospitalized.

A statement from Walter Reed medical officials late Sunday said Austin was admitted into the critical care unit for supportive care and close monitoring. Dr. John Maddox, the trauma medical director, and Dr. Gregory Chesnut, director of the Center for Prostate Disease Research of the Murtha Cancer Center, said while it was unclear at this time how long Austin will remain hospitalized, “the current bladder issue is not expected to change his anticipated full recovery.”

The chairman of the Joint Chiefs of Staff was notified, as well as the White House and Congress.

Austin was scheduled to depart Tuesday for Brussels to hold a meeting of the Ukraine contact group, which he established in 2022 to coordinate military support for Kyiv after Russia’s invasion. After that, Austin was scheduled to attend a regular meeting of NATO defense ministers.

It was not immediately clear if this hospitalization would change those plans.

Austin was diagnosed with prostate cancer in December and underwent a procedure called a prostatectomy to treat it on December 22.

Over the following week, he developed complications and on January 1, in extreme pain, he was taken to Walter Reed by ambulance where he was admitted to the intensive care unit. Austin remained at Walter Reed until January 15. He then continued to recover and work from home, and he returned to the Pentagon January 29.

His doctors have previously said his prognosis against the cancer is “excellent” and that no further treatments will be needed.

Austin has gone back to Walter Reed for follow-ups since his hospitalization but this is his first unscheduled trip due to continued complications from his cancer treatments.

Austin did not tell President Joe Biden, Congress or his deputy defense secretary of his December cancer diagnosis or initial hospitalization for weeks. That secrecy has become the subject of an inspector general investigation and a Pentagon internal review. He has previously said he never instructed his staff to keep his hospitalization a secret.

US senators push forward with Ukraine aid package as leaders say world is watching

By Mary Clare Jalonick & Stephen Groves The Associated Press

W

ASHINGTON—As former President Donald Trump and a growing number of Republicans oppose US aid to Ukraine, the Senate’s leaders argued in strong terms on Sunday that the money is crucial to pushing back against Russian President Vladimir Putin and maintaining America’s global standing.

In the Capitol for a rare weekend session, the Senate voted again to move forward with the assistance as Senate Majority Leader Chuck Schumer, D-N.Y., and Republican leader Mitch McConnell of Kentucky issued stark warnings about the consequences of abandoning longtime US allies in Europe.

“Today it’s no exaggeration to say that the eyes of the world are on the United States Senate,” McConnell said. “Our allies and partners are hoping that the indispensable nation, the leader of the free world, has the resolve to continue.”

Sunday’s 67-27 vote to move forward on the $95.3 billion aid package for Ukraine, Israel and other countries comes as former President Donald Trump, the front-runner for the Republican presidential nomination, is trying to kill the assistance and has escalated his attacks on the NATO military alliance.

Trump posted on his social media platform over the weekend that the US should consider loaning Ukraine money, not giving it to them, saying that “The United States of America should be ‘stupid’ no longer!”

And the former president said Saturday at a campaign rally in South Carolina that Russia should be able to do “whatever the hell they want” to NATO members who do not meet their defense spending targets. He recounted a story he has told before about an unidentified NATO member who confronted him over his threat not to help them.

While McConnell has made helping Ukraine a top issue, an increasing number of members in his GOP conference have followed Trump’s lead and are opposing the aid, which Senate leaders have been trying to pass for months.

Without mentioning Trump by name, McConnell said in his opening remarks Sunday that “American leadership matters, and it is in question.”

Schumer said that if America doesn’t assist Ukraine, “Putin is all too likely to succeed.”

“The only right answer to this threat is for the Senate to face it down unflinchingly by passing this bill as soon as we can,” Schumer said before the vote.

Amid shortages on the battlefield, the package would provide $60 billion for Ukraine, mostly to purchase US-made defense equipment, including munitions and air defense systems that authorities say it desperately needs as Russia batters the country. It includes $8 billion for the government in Kyiv and other assistance.

It would also provide $14 billion for Israel’s war with Hamas, $8 billion for Taiwan and partners in the Indo-Pacific to counter China, and $9.2 billion in humanitarian assistance for Gaza.

The Senate is pushing through several procedural votes on the slimmed-down package after an attempt to pair it with legislation to stem migration at the US border collapsed. Objections from Republicans adamantly opposed to the aid have delayed quick action, forcing the weekend votes as negotiations continue over potential amendments to the legislation.

TheWorld BusinessMirror

Tuesday, February 13, 2024 A13

Russia launches barrage of 45 drones over Ukraine as Kyiv changes military leaders K YIV, Ukraine—Russian forces launched 45 drones over Ukraine in a five-and-a-half-hour barrage Sunday, officials said, as Ukrainian President Volodymyr Zelenskyy continued the reshuffle of his war cabinet as the war enters its third year.

In a statement, the Ukrainian air force said it had shot down 40 of the Iranian-made Shahed drones over nine different regions, including on the outskirts of the country’s capital, Kyiv.

The attack targeted agricultural facilities and coastal infrastructure, officials for Ukraine’s southern defense forces wrote on Telegram. They said that a strike in the Mykolaiv region had injured one person, sparking a fire and damaging residential buildings.

Another person was injured in Ukraine’s Dnipropetrovsk region when a blaze broke out due to falling debris from a destroyed drone, said the head of the region’s military administration, Serhiy Lysak.

Border police in Moldova also said Sunday that fragments of a “Shahedtype drone” were found near the southern town of Etulia close to the border with Ukraine, but that the debris posed no danger to communities nearby.

“There is a suspicion that the detected drone debris is one of the drones shot down by the Ukrainian anti-aircraft system,” the border police said in a statement, referencing overnight attacks launched on Friday by Russian forces on Ukraine’s Izmail region.

The distance between Etulia and Izmail is about 40 kilometers (25 miles) as the crow flies. Authorities said access to the impact site has been restricted.

Moldovan President Maia Sandu posted on the social media platform X, that “Russia’s war on Ukraine hits close to home in Moldova—again.”

“The discovery of Shahed drone debris in southern Moldova today serves as another stark reminder of the grim reality we face,” she said.

“Russia’s aggression endangers the entire continent. Support for Ukraine must continue.”

The strikes come as Zelenskyy continues his shakeup of military commanders in a bid to maintain momentum against attacking Russian forces.

Kyiv announced Sunday that former deputy defense minister Lt. Gen. Alexander Pavlyuk would become the new commander of Ukraine’s ground forces. The post was previously held by Col. Gen. Oleksandr Syrskyi, who was named Thursday as the replacement for Ukraine’s outgoing military chief, Gen. Valerii Zaluzhnyi.

New presidential decrees also named Yurii Sodol, the former head of Ukraine’s marine corps, as the new commander of Ukraine’s combined forces; Brig. Gen. Ihor Skibiuk as commander of Ukraine’s air assault forces; and Maj. Gen. Ihor Plahuta as commander of Ukraine’s territorial defense forces.

Incoming commander-in-chief Syrskyi has signaled that his immediate goals include improving troop rotation at the front lines and harnessing the power of new technology at a time when Kyiv’s forces are largely on the defensive.

Starlink concerns UKRAINE’S military intelligence service said Sunday that attacking Russian forces had been found using Starlink terminals to aid their attack. It released what it said was a recording of an intercepted conversation between two Russian soldiers as proof.

Starlink terminals, which use a series of satellites run by Elon Musk’s

THIS image released by Moldova’s Border Police on Sunday, February 11, 2024, shows, according to the official statement, remains of a Shahed-type drone that crashed near the Etulia, Moldova, near the Moldova-Ukraine border and in the general area of the Ukrainian Danube port of Ismail. The port was the target of a Russian air strike in the early hours of February 10. MOLDOVAN BORDER POLICE VIA AP company Space X to provide high-speed communications, have been vital in giving Ukraine’s military an edge over invading Russian troops.

However, multiple reports of Russian troops using Starlink on the front line in occupied Ukraine had begun to surface in the Ukrainian media in recent weeks.

They prompted Space X to release a statement on social media on February 8, saying that it did not “do business of any kind with the Russian government or its military.”

However, Western tech components have regularly been found among Russia’s arsenal

as Moscow has become more skilled at evading sanctions, often importing goods via third countries.

In a statement on Telegram on Saturday, Zelenskyy said that he hoped to “reboot” the upper levels of Ukraine’s armed forces with experienced combat commanders.

“Now, people who are well known in the army and who themselves know well what the army needs are taking on new responsibilities,” he said.

The Associated Press writer Stephen McGrath in Bucharest, Romania, contributed to this report.

A14 Tuesday, February 13, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Marcos urges public to strongly reject separatist movement

T

he call to separate Mindanao from the rest of the Philippines is not a new issue. It has been a topic of debate and discussion for many years, fueled by various factors such as historical grievances, cultural differences, and economic disparities. However, President Marcos’s recent statement brings the issue to the forefront once again, emphasizing the need to preserve national unity and protect the country’s integrity.

The President strongly condemned the proposition to detach Mindanao from the Philippines, asserting that it is a direct assault on the nation’s integrity. During the Commemoration of the Constitution Day event last week in Makati, organized by the Manila Overseas Press Club, President Marcos emphasized that such a move is a severe violation of the Constitution and would not contribute to the vision of a progressive “Bagong Pilipinas” (New Philippines). He urged the public to firmly reject this separatist movement. (Read the BusinessMirror report: “PBBM: Mindanao secession is an attempt to destroy the country,” February 9, 2024).

By urging the public to reject the movement for separation, the President is encouraging citizens to stand together and protect the republic. This call to galvanize the people is crucial in maintaining national unity, as it reminds us of the shared values and aspirations that bind us as Filipinos.

The President’s strong stance against this movement reflects his commitment to upholding the Constitution and preventing any attempts that could potentially undermine the nation’s progress and stability. He pointed out that such a call for separation is not just a violation of the Constitution but also an act that threatens to dismantle the very fabric of our country. The Philippines, with its diverse cultures, traditions, and peoples, has always stood as a testament to unity amid diversity. Dividing the nation would not only undermine our collective achievements but also weaken our ability to face challenges as one.

It is heartening to witness the President rallying the public to reject this movement and preserve the republic. In times of uncertainty, it is crucial for the citizens to stand together and protect the values and ideals that our flag represents. The call to galvanize the people is a call for unity, a call to remember that the strength of the nation lies in the unity of its citizens.

Our Constitution calls for a united and undivided country. And the President’s vow to sternly enforce the Constitution and laws against any attempts to split the country is a reassurance to the Filipino people that their rights and interests will be protected.

The establishment of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) is an essential step towards genuine autonomy and self-rule.

The President rightly pointed out that BARMM, under its current leadership, has repudiated the call for separation. Other political leaders in Mindanao also recognized the significance of genuine and effective local autonomy without compromising our national integrity.

The Marcos administration’s commitment to supporting BARMM, including the successful conduct of its first-ever election next year, is commendable.

Granting the people the right to choose their leaders is a logical progression in the journey towards self-rule. The President’s promise to stand by their side and ensure the success of this historic event further demonstrates his dedication to empowering our Muslim brothers and strengthening the region.

A stronger BARMM translates into a stronger Mindanao, and a stronger Mindanao contributes to a stronger Philippines. This interconnectedness highlights the importance of unity and collaboration among the country’s different regions. By working together, we can achieve our shared agendas and build a brighter future for all Filipinos.

We must heed the President’s call to reject this movement seeking to separate Mindanao from the Philippines, and rally behind the values and ideals that unite us as a nation. Let us remember that a united Philippines is a stronger Philippines, capable of overcoming any challenges that come our way.

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John Mangun

OUTSIDE THE BOX

Y

ou can walk from Cape Town, South Africa to the port town of Magadan in the Far Eastern Siberia region of Russia, a journey of 22,387 kilometers. You cannot walk the 1.5 kilometers from the Starbucks at Caticlan Airport to Boracay Island. Does that seem fair?

But “fair” is a matter of comparison. Is it fair that the bridge from the mainland to Thailand’s most famous island resort, Phuket, needed to be 660-meter long and a bridge to Boracay would have to be 1.2-kilometer long?

Comparisons are valid and important when attempting to make decisions about similar items. My dentist buys a particular tool from China because it is less expensive. But the quality is not the same. He told me the performance is exactly the same but that the Chinese product has a useful life that is half of the European brand. However, he can purchase three of the Chinese tool for the same price as the “higher” quality tool from

Europe. Therefore, with a complete comparison, the Chinese product is much better. One-third the price: one-half the life expectancy.

We cannot find any more ridiculous comparisons than from the “thought leaders” and pundits when speaking of the Philippines.

How many pundits have written volumes of articles about how Filipinos proudly taught Asean neighbors, particularly Vietnam, how to produce rice and now we must import massive amounts of rice from Vietnam. What is wrong with the Philippines and its governments?

If you are going to compare the Philippines to another country, at least make it mangoes to mangoes

and not to apples.

Why must we import rice from Vietnam? Rice requires approximately 2,500 liters of water to produce one kilo of harvestable rice.

Vietnam has 41,000 kilometers of rivers. The Philippines has less than 5,000 kilometers of rivers and in case the experts need to be told, rivers are the most efficient and cost-effective source of water.

In 2021, Saudi Arabia imported $1.05 billion of rice for its 36 million people. Do Saudi “experts” ask why on a per capita basis their country spends three times as much to import rice as the Philippines?

If you are going to compare the Philippines to another country, find that nation where you cannot drive from the largest metropolitan area to the second largest Metro like the Philippines. Even in the archipelagic state of Indonesia you can drive from Jakarta to Surabaya.

Also, to be fair, compare the Philippines to another country that ranks high (the Philippines is number one) having increased risk to natural disasters and not Thailand (163) or Vietnam at 174. Major natural disasters—volcanoes, earthquakes, typhoons—tend to negatively impact economic growth.

Speaking of Indonesia, disaster

risk #2, there is a comparison made between the disparities in foreign direct investment to Indonesia versus the Philippines. Let’s look at a deeper comparison.

Recent comments pointed out that the Philippines needs more investment as well as more money to fund social services. Maybe we could get the funding from a larger economy, i.e., Gross Domestic Product. As a percentage of total GDP, Vietnam’s mining sector contributes approximately 2.6 percent of its total GDP, amounting to $6.3 billion.

In contrast, Indonesia benefits from its mineral wealth, accounting for 1.1 percent of its GDP, which equals $14.9 billion. The Philippines, on the other hand, derives 0.659 percent of its GDP from mining, totaling $690 million, which is about 10 percent of Vietnam’s mining output.

Looking at Indonesia and its $14.9 billion in GDP from mining, foreign investment in Indonesia in 2022 was dominated by the metal mining and mining sectors, which saw more than $16 billion in FDI combined. Indonesia’s basic metal industry sector received the most foreign investment in 2022 with $11 billion worth of FDI or some 24 percent of the total FDI the country received in 2022.

See “Mangun,” A15

Biden urges Netanyahu to shield Rafah civilians in an attack

By Gwen Ackerman & Akayla Gardner

P

resident Joe Biden urged Prime Minister Benjamin Netanyahu to shield civilians in Gaza from an Israeli military operation in the southern city of Rafah, saying it shouldn’t proceed without a “credible and executable plan” for their safety and support.

T. Anthony C. Cabangon

Senior Editors

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Dishonest comparisons

The White House readout after a phone call between Biden and the Israeli leader followed pledges by Netanyahu in two US television interviews earlier Sunday that Israel will have a plan, including directing civilians northward in the Gaza Strip to get them out of harm’s way.

“We are working out a detailed plan to do so,” Netanyahu said Sunday on ABC’s This Week. At the same time, he said Israel will go after remaining battalions of Hamas in Rafah, which sits on the border Egypt.

More than 1 million Palestinians are taking shelter in Rafah, many after seeking refuge from Israeli bombardment in the north.

“Those who say that under no circumstances should we enter Rafah are basically saying, lose the war, keep Hamas there,” Netanyahu said. “We are not going to let Hamas emerge victorious. And if we leave, it’ll be a tremendous victory for the Iran terror axis.”

Biden last week criticized the extent of Israel’s military campaign in Gaza, calling it “over the top” and escalating his criticism of

Netanyahu after the Israeli leader previewed plans for ground forces to enter Rafah.

“I appreciate President Biden’s support for Israel since the beginning of the war,” Netanyahu told ABC. “I don’t know exactly what he meant by that, but put yourself in Israel’s shoes.”

Sunday’s discussion between Biden and Netanyahu primarily focused on ongoing negotiations to secure a hostage deal with Hamas, according to a senior administration official.

A framework for the hostage deal is mostly in place with partners in the Middle East, the official said, though gaps remain in negotiations with Hamas. If an agreement is reached, it would reinstate a humanitarian pause to allow aid to flow into the Gaza Strip and hostages to leave the area.

Biden also discussed immediate efforts to deliver humanitarian assistance, including a shipment of American procured flour that could feed about 1.4 million Palestinians for the next six months, according to

the official, who noted there are still logistical challenges to its arrival.

Egypt and other Arab countries as well as European nations such as Germany have raised serious concern about an Israeli ground assault on Rafah. Philippe Lazzarini, head of the UN Relief and Works Agency, said people in the town “have absolutely no idea where to go.”

Netanyahu said on Fox News Sunday that “there’s plenty of room north of Rafah for them to go to, and that’s where we’re going to direct them,” including with fliers, mobile phone calls, safe corridors.

In Sunday’s call, Biden reaffirmed the “shared goal to see Hamas defeated and to ensure the long-term security of Israel and its people,” while also calling for stepped-up humanitarian aid to Palestinian civilians, the White House said in a statement.

Egypt said Sunday it opposes an Israeli military operation in Rafah, according to a Foreign Ministry statement. It didn’t mention a claim by Egyptian parliamentarian Mostafa Bakry on social media that Egypt had threatened to take the extraordinary step of suspending its 45-year-old peace treaty with Israel if it sends its troops into Rafah.

German Foreign Minister Annalena Baerbock warned of a “humanitarian disaster” and said she plans to visit Israel this week to discuss

efforts toward a Gaza cease-fire and the release of Hamas-held hostages.

Hamas toll

Fighting between Israel and Hamas, which controls Gaza, began on October 7 when Hamas militants attacked southern Israel, killing some 1,200 people and taking more than 200 hostage. Israel’s retaliatory air and ground offensive has killed more than 28,000 people in Gaza, according to the Hamas-run health ministry. Netanyahu estimated on ABC that about 12,000 of the dead were Hamas fighters.

Netanyahu and his government insist that Israel must eliminate Hamas and free all hostages. Negotiations for their release are underway, but an agreement remains elusive.

Egypt, a mediator in the talks, has warned Hamas that it must reach an accord within about two weeks or Israel will proceed with the Rafah invasion, the Wall Street Journal reported Sunday.

Israel has repeatedly said that only military pressure will bring Hamas to the table with an offer Israel would be willing to consider.

“The more we deepen our operations, the closer we get to a realistic deal in order to return the hostages,” Israeli Defense Minister Yoav Gallant said Sunday while touring an army base after the discovery of a new Hamas tunnel. Bloomberg

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Tuesday, February 13, 2024 A15

Once-bitten Europe is better prepared for Trump’s Nato tirades

EOPT and the promise of a better tax system

D

T

he Ease of Paying Taxes (EOPT) has been in effect for the past couple of weeks and my colleagues have written extensively on it. From a general overview provided by Atty. Rodel Unciano to new specific features of the value-added tax as observed

by Atty. Fulvio Dawilan, and all the way to the precise changes in the creditable withholding tax refund as remarked by Atty. Mabel Buted. Despite these extensive write-ups, there is still a lot to unpack in the EOPT.

On the classification of taxpayers into micro, small, medium, and large taxpayers, the EOPT already provided for certain concessions for the first two classifications to make tax administration easier.

However, I would argue that a lot can still be done. Micro and small taxpayers make a significant portion of the business enterprises in the Philippines, but their size makes it difficult to comply with the current tax administration requirements.

Nonetheless, the IRR may still make tax compliance easier for micro and small taxpayers by providing rules to make bookkeeping simple and less complicated. Tax reporting may also be reduced to annual reports only and remove reporting on a monthly/ quarterly basis.

For medium taxpayers, care should be exercised in crafting the rules on tax compliance because of the extremely wide threshold of gross sales provided under the EOPT. While medium taxpayers may have a better ability to comply with stricter tax obligations, the wide threshold may encompass taxpayers that are so far apart in terms of compliance capabilities that uniform rules may prove to be inadequate, if not unfair.

On record-keeping requirements, the EOPT provided for a definite fiveyear period within which taxpayers are required to preserve books and other records. This should, however, be harmonized with the 10-year prescriptive period to assess in cases of fraud. What would the rules be in case a taxpayer disposes of its records after the five-year period but

is subsequently examined under allegations of fraud?

Further, considering that the EOPT includes provisions on the digitalization of the BIR services and the strengthening of the BIR’s technology capabilities, rules should be set up to avoid or minimize requesting from taxpayers documents/records/ returns that are already part of the taxpayer’s periodic reportorial requirements.

On the refund of excess, unused, and creditable input tax, the classification of refund claims to low-, medium-, and high-risk claims is a welcome respite. By introducing these classifications, the BIR may now focus its audit/verification process on medium- and high-risk claims. Nonetheless, what would be the basis for classifying a claim into any of the three classifications? Will a low-risk classified claim actually lead to an approval within the prescribed period to process the application?

It should be noted that the return of the “deemed denied” provision should not operate to dilute the purpose of having claim classification.

Failure to timely act on an applica-

Atty. Jomel N. Manaig

Tax Law for Business

By Alberto Nardelli & Natalia Drozdiak

onald Trump’s latest provocation—reciting an old conversation where he said he’d let Russia do “whatever the hell they want” to Nato members in arrears—had officials in Europe going back to that time and remembering it somewhat differently.

Several European officials who interacted with Trump at multiple summits of the North Atlantic Treaty Organization (Nato) said they couldn’t recall the version of events the former president and current Republican frontrunner shared with a rally of supporters in South Carolina, nor that he ever went as far as saying he’d invite a Russian attack.

They have memories of Trump repeatedly hectoring members who were falling short of Nato’s spending target at multiple meetings and goading them to pay up fees in return for being protected. In fact, during the 2018 summit in Brussels, Trump called a hastily arranged news conference to address reports that he had privately threatened to pull out of the post-World War II alliance if countries didn’t quickly increase defense spending.

Not only do officials on the continent remember Trump’s antagonism differently, this time around they come prepared to handle a lot of what he will throw out. There is an awareness that the former president will mix facts with fiction, that he is prone to exaggeration and that the tight race is descending into an ugly contest with politics playing to a domestic audience.

They realize that this won’t be the first—or indeed the last—incident where Trump’s own recounting of an interaction with a foreign leader is resurrected and retold to US voters. The European Union boosted defense spending in the wake of Russia’s invasion of Ukraine and it has already set in motion plans in the event Trump gets another term as president, and the messaging in Europe tends to be more restrained.

President Joe Biden is fighting for re-election and his White House naturally went on the attack, calling the comments “appalling.” Nato Secretary-General Jens Stoltenberg said the alliance remains “ready and able to defend all allies.”

Facing blowback from his Saturday comments, Trump’s campaign contended that his time in office included relative stability in Europe and it reiterated his longtime claims that he goaded Nato member countries to increase spending.

As Bloomberg reported last week, EU has quietly started preparing an impact assessment of the consequences of the November US election, paying particular attention to the scenario in which Trump wins. If anything, Trump’s comments have reenergized talk of European solidarity and of finding ways to boost funding for its defense sector even further.

“If Europe does not take more effective care of its own security, if we will make Europe’s security depending solely on the good will and readiness to defend the US, sooner or later it may end in disaster,” Polish Prime Minister Donald Tusk said on Sunday.

“We also need to wake up Europe.”

Though Trump repeatedly criticized members for not paying their dues, Nato doesn’t have membership or protection fees. Its members pledged to spend at least 2 percent of their gross domestic product on defense and abide by the principle that an attack on one is an attack on all.

In his 2020 memoir, “The Room Where it Happened,” former National Security Advisor John Bolton recounts how Trump planned to threaten to withdraw from Nato at the 2018 summit. The then-president told his adviser ahead of the gathering that he planned to tell allies that by the following January 1 all nations must commit to 2 percent, “or we will walk out, and not defend those who have not.”

Bolton sought to rein in Trump, telling him to “go up to the line, but don’t cross it.” He should slam delinquent members but not threaten withdrawal, Bolton told him, according to his account. In the end, Trump told allies he was “with Nato 100 percent,” but that allies had to pay the 2 percent by January 1 or “the US was just going to do its own thing,” Bolton wrote.

While Trump’s misunderstanding of how Nato works hasn’t changed in the past six years, Europe has taken major strides since Russia’s invasion of Ukraine, said one of the officials, who spoke on the condition of anonymity.

Nato allies, and Europe in particular, significantly scaled back defense spending in the years after the end of the Cold War, only starting to reverse the trend in 2014 when Russia annexed Crimea. But Russia’s full-scale invasion in February 2022 has accelerated the shift, most notably in Germany, which chronically underspent.

“Defense spending has been rising to unprecedented levels since Russia’s war in Ukraine,” said Oana Lungescu, a distinguished fellow at RUSI and former Nato spokesperson, adding that she expects that around two thirds of Nato allies will meet the guideline this year. “But it’s clear that Nato countries simply have to invest much more and much faster in their own defense, regardless of who sits in the White House.”

European allies have shipped tens of billions of dollars worth of advanced weapons to Ukraine, even after initially resisting when Russia’s tanks rolled toward Kyiv.

The EU as a bloc, of which most members are also part of Nato, has also taken unprecedented steps into active military support for Ukraine, both in weapons aid and military training. The EU is working on plans to increase its artillery production and ramp up its defense industry, including with a new strategy due to be unveiled in the coming weeks.

Trump’s latest remarks, coupled with his lead in the polls ahead of November’s election and the ongoing deadlock in Congress where a $60 billion aid package that Ukraine desperately needs remains deadlocked, is likely to strengthen those voices that have been calling on the EU to do even more to boost its capabilities and autonomy.

The idea of a more strategically autonomous Europe was once a mostly intellectual concept advocated by France and a few others. Nowadays, even diplomats in some of the US’s staunchest allies in central and eastern Europe argue that the EU needs the ability and capabilities to act— within Nato—and stand on its own two feet, according to multiple officials in those countries.

That day is still many years away.

A target to provide Ukraine with one million rounds of artillery by March has been delayed until the end of the year and member states are still at odds over how to raise the tens of billions its defense industry needs to expand and how to spend the money.

Beyond the immediate reactions, Trump’s latest remarks may well sharpen minds even further when EU leaders gather in Brussels next month at a summit to discuss a strategy for their defense industry.

“They reemphasise the need for the EU to urgently further develop its strategic autonomy and invest in its defense. And to keep our Alliance strong,” the President of the European Council, Charles Michel, said on the platform X. With assistance from Natalia Ojewska/Bloomberg

It should be noted that while the EOPT laid down the framework of a supposedly easier and more convenient future for taxpayers, the finer details of its application would have to be provided through the promulgation of its implementing rules and regulations (IRR) within 90 days from effectivity of the law. A lot may happen during that 90-day period.

Hopefully, the IRR can still provide improvements to bring to life the progressive spirit of the EOPT. On the classification of taxpayers into micro, small, medium, and large taxpayers, the EOPT already provided for certain concessions for the first two classifications to make tax administration easier. However, I would argue that a lot can still be done. Micro and small taxpayers make a significant portion of the business enterprises in the Philippines, but their size makes it difficult to comply with the current tax administration requirements.

While a simplified tax system would do wonders for micro and small taxpayers, it may require legislation, which only Congress may do.

tion, especially if considered lowrisk, is the anathema of an effective refund system.

Lastly, on the refund of excessively or illegally collected taxes, the introduction of definite periods to process a refund claim is truly a great relief for taxpayers. Having a definite 180-day period from the submission of complete supporting documents should give taxpayers a greater appreciation on the processing of their respective claims.

However, it now means that the BIR will provide for lists of “complete supporting documents” catered to specific taxes being refunded. In crafting these lists, the BIR should not go overboard and prescribe a daunting list of documents. Doing so is not consistent with the message of “ease to the taxpayers” that the EOPT is espousing. In addition, the BIR should likewise consider jurisprudence in making the list since not all tax refunds should be met with strictissimi juris (strictly construed against taxpayers). In case a more lenient standard is appropriate, the documentation required should likewise reflect it.

These are just a few matters I hope that the powers that be would consider in crafting the IRR. In due time, we will see if the IRR will live up to the promise of the EOPT. The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at jomel.manaig@ bdblaw.com.ph or call 8403-2001 local 380.

Modi flexes global muscle with Abu Dhabi visit, temple opening

By Anto Antony & Ben Bartenstein

L

ast month, Prime Minister Narendra Modi opened the doors to a controversial temple in India where a centuries-old mosque once stood. This week he will inaugurate another Hindu religious site—in the Abu Dhabi desert.

The pink sandstone temple in the United Arab Emirates has been built on a 27-acre plot granted on lease

by President Sheikh Mohammed bin Zayed Al Nahyan for as long as “the sun shines.” In an election year, the imposing edifice offers Modi a headline-grabbing opportunity to portray himself as a global leader with the ability to draw big foreign investments.

Investment pledges or memorandums of understanding between the two countries are expected to be announced during Modi’s visit. The Indian prime minister will also address more than 40,000 people from the South Asian nation in a stadium in Abu Dhabi on February 13.

It’s a unique mix of religion, politics and money. Throngs of people waving flags gathered to greet the UAE president, known as MBZ, as he was welcomed by Modi at the airport of his home state Gujarat last month.

While Islam is the UAE’s state religion, Modi’s Bharatiya Janata Party has long had a strained relationship with India’s Muslim population. Still, Emirati officials said there is a growing appreciation in Abu Dhabi of India’s rising geopolitical importance as well as its position as the world’s fastest growing major economy. That would make it strategically important for the UAE to navigate around any differences in opinion with New Delhi, they said.

Modi has said that MBZ is like

Mangun. . .

Continued from A14

While it is true that Indonesia possesses a significantly larger mineral wealth compared to the Philippines, one might wonder why we are not reaping any benefits from it. But we know why, having been

a brother to him, Brahmaviharidas Swami, the Hindu priest heading the temple said on a zoom call, standing in front of the site clad in saffron robes. “The relationship between India and the region has never been stronger.”

There are big business considerations. India is one of the largest customers of Middle Eastern oil. The country is also buying more liquefied natural gas from the region.

Meanwhile, sovereign wealth funds in the UAE and other parts of the Gulf have emerged as prominent investors in the South Asian nation.

Royal Group—the private investment firm of UAE national security adviser Sheikh Tahnoon bin Zayed Al Nahyan—has long had an affinity for India, with executives there calling it the potential growth engine of the coming decade. In recent days, his artificial intelligence firm set up a new entity called G42 India Enterprises Holding RSC Ltd. within Abu Dhabi Global Market, filings show.

The UAE is weighing provisional pledges to invest as much as $50 billion in India, its second-largest trading partner, people familiar with the matter told Bloomberg News last year. While it’s unclear if all those investments will ultimately come through and when any agreements might be announced, they would offer Modi another opportunity showcase the international ties.

“These funds are coming into Intold constantly over the years that Filipinos are incapable of running a mining industry, much like how we are perceived when it comes to nuclear power generation.

I said last week that there is neither an economic nor a scientific basis for opposition to nuclear energy, which is the single most efficient source of energy known to man. It is

dia not as an assistance but on a bet that India will do really well over the next few decades,” said Rajeev Misra, an Indian-born financier, who has over the years been entrusted with billions of dollars from Middle Eastern funds. “To tap this golden opportunity a system has to be put into place in India, which can guide the money to the right opportunities.”

Close connections

Politically, the countries have grown closer in recent years. Modi’s latest visit will mark his seventh trip to the Gulf nation since he took over as prime minister in 2014. The last Indian premier to visit the UAE before him was Indira Gandhi in 1981.

In 2021, the Gulf nation helped broker a peace deal between India and Pakistan. More recently, the UAE was one of the countries invited to join the BRICS bloc, of which India is a part. Modi is increasingly being courted by global leaders, including US President Joe Biden.

“Both UAE and India stand to gain economically and geopolitically from the close relationship built over the recent years,” said Thomas Mathew, a New Delhi-based retired bureaucrat and international relations analyst.

“The US and western bloc is also pushing to strengthen the bond as it helps in containing China which has ambitions in the region.”

Other Middle Eastern countries have also looked to strengthen ties with India. Saudi Arabia announced its intention to invest $100 billion in the country in 2019 and during a September visit Crown Prince Mohammed bin Salman discussed ways to quicken the implementation of those plans.

The UAE and India have histori8,000 times more efficient than fossil fuels, which are already much more efficient than wind and solar power.

I was promptly informed that the Philippines lacks world-class institutions with the capacity to regulate and manage nuclear power plants.

In contrast, certain countries that apparently are “world-class” have established a notable number of

cally enjoyed close ties. A third of the Gulf country’s population hails from India and Dubai counts Indians as among the top buyers of real estate in the city. The UAE was expected to be the top destination for migrating high net worth Indians in 2023, according to immigration firm Henley & Partners.

Billionaires Gautam Adani and Mukesh Ambani are among India’s wealthy to have made big investments in the Middle Eastern country. In turn, they’ve also managed to draw funding from state-backed entities in the region.

Against this backdrop, the treatment of Muslims in India is an issue that “Abu Dhabi should voice behind closed doors,” said Abdulkhaleq Abdulla, an Emirati academic. “It’s not enough to encroach on the broader economic ties, security partnerships and overall national interest.”

To be sure, many of the pledges or MOUs from Middle Eastern countries remain promises and limited amounts have actually reached Indian shores so far.

Other big plans for deepening ties have also been slow to take off on the ground. The India-Middle East-Europe Economic Corridor— a project that envisages building new rail links across the Arabian peninsula—was intended to further strengthen the relationship between the countries.

The plan, pushed by the US since January last year, is meant to build the 3,000-mile route to serve multiple purposes, including countering China’s Belt and Road infrastructure program. For now, however, the Israel-Hamas war has slowed down those efforts to lay the groundwork. Bloomberg nuclear plants for electricity generation. These include Argentina (3), Mexico (2), Pakistan (6), South Africa (2), India (19), and Bangladesh (soon to have 2).

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

A16 Tuesday, February 13, 2024

ECONOMIC LIB TRIO OF LAWS NOT GOOD ENOUGH–SOLONS

D

ESPITE the passage of new laws which liberalized the economy, the entry of more investments in the country remained limited due to “restrictive” economic provisions of the Constitution and vague economic policies, members of the House of Representatives (HOR) insisted on Monday.

The congressmen said they will be pushing to finally remove the said issues through a “c o n s t r u c t i v e ” e n g a g e m e n t with the Senate in amending the 1987 Constitution in line with the call of President Ferdinand R. Marcos Jr. In a press conference on Monday, House Committee on Ways and Means Chairman and Albay 2nd district Rep. Jose “Joey” S. Salceda said the Philippines is still among the countries with the most restrictive economy in the world.

“And all those restrictions are in the Constitution. That is the problem,” Salceda said.

One of such restriction, he said, is the constitutional ban on foreigners from owning land, which the lawmaker said, is discouraging them from investing“heavily on capital-intensive sectors.”

Marcos earlier said he is open to amending the economic provisions of the Constitutions except for land ownership, and some sectors like media.

Marikina Rep. Stella A. Quimbo also said ambiguities in existing

economic policies such in the case of telecommunications (telco) made it and other industries unattractive sectors to invest into.

She explained that while telcos were removed from the list of public utilities under the Public Service Act (PSA), it was included in the list of critical infrastructure, wherein foreign ownership remained limited to just 40 percent.

Global signal BOTH economist-lawmakers made the pronouncement when asked why there is still a need for the proposed amendment of the economic provisions of the Constitution with the passage of the trio of economic liberalization measures such as the Retail Trade Liberalization Act, Foreign Investment Act and the PSA. Quimbo said these laws are only “second best solution” to make the country a top destination for investments since the country still has distinction of having restrictive Constitution.

“So maybe if we remove the those restrictions or include the phrase unless otherwise provided by law, that would finally be the ...clearest signal to our foreign investors including those which want to enter the telco sector that the Philippines is already sure that it wants to open up the economy,” she added, partly in Filipino.

Samuel P. Medenilla

DOTr hell-bent on transport reforms after Naia bidding

T

By Lorenz S. Marasigan & Samuel P. Medenilla

@lorenzmarasigan @sam_medenilla

HE Department of Transportation (DOTr) is hell bent on completing the “transformation of the country’s transportation systems” with its chief calling on personnel to roll up their sleeves and work towards a “brighter future.”

Transport Secretary Jaime J. Bautista emphasized the urgency of the task at hand, spanning aviation, railway, road, and maritime sectors.

“Let us buckle down to work with a fresh outlook and renewed inspiration starting on our 125th year. It is time to complete the transformation. All eyes on the work ahead,” he said.

Bautista gave the marching orders even as the DOTr and the Department of Finance received praise for the successful bidding of the P175-billion NAIA rehabilitation project, considered the largest Public-Private Partnership (PPP) project to date to be bid out.

The DOTr has several big-ticket projects in its pipeline—the Metro Manila Subway, the privatiza-

tion of the Ninoy Aquino International Airport, the development of ports in the regions, and the controversial Public Utility Vehicle Modernization Program, among others.

Innovation and pioneering efforts, Bautista said, are essential in implementing projects that will reshape the entire spectrum of Philippine transport. This will allow the Philippines to address current needs while anticipating future circumstances, he noted.

“The same sensitivity to emerging trends, and best practices should define our pivot to commuter- and commuter-friendly transit systems,” he added.

Bautista expressed confidence in undertaking transport infrastructure projects with renewed enthusiasm, assuring the support of President Ferdinand Marcos Jr.

Kudos for Naia rehab deal

MEANWHILE, House Ways and Means Chair Joey Sarte Salceda (Albay, 2nd district) congratulated the DOF under Secretary Ralph Recto and Bautista’s DOTr for successfully bidding out the rehabilitation of the Ninoy Aquino International Airport.

“Highest congratulations are due to the DOF and DOTr, led by Secretaries Recto and Bautista, for getting it done—a very fair deal for the government,” Salceda remarked.

“This is the largest single PPP to date and at an astronomical government share of air transport revenues.

At 82.16 percent share of revenues from air transport-related operations, this is the best demonstration of a benchmark-based PPP, which I fought for in the PPP Code,” Salceda said.

Salceda was referring to the provision in the new PPP Code, which uses a proponent’s internal rate of return as a bidding parameter.

“Essentially, companies now compete for highly investible PPP projects based on how much they’re willing to shell out to the government. That makes PPPs not just a potent way of procuring public services. It also makes PPPs are very powerful source of revenues for the government,” Salceda added.

The winning bidder for the 15year concession to manage Naia is SMC-SAP & Company Consortium,

led by the conglomerate San Miguel Corporation. The concession is extendible for another 10-year period.

The project cost is an estimated P175 billion, with an upfront investment of around P30 billion on top of the 82.16 percent government share.

“This also demonstrates, once again, that Ramon Ang is the only taipan who bets big on his country— who latches SMC’s destiny with the destiny of the Philippines. Where others diversify, RSA doubles down on the Philippines—if the country fails, he fails. But, if the Philippines succeeds, he succeeds big time.”

“Possible projects include interconnection of the first three terminals and solutions to the taxiway overcrowding.” Salceda also specifically congratulated the efforts of the Privatization and Corporate Affairs Group, led by Undersecretary Catherine L. Fong, for the successful bidding out of the project.

“Usec. Cathy sought my advice and support through this, especially with regard to using the rate of return as a bid parameter. This was the heart of the first version of the PPP Code that I proposed in 2006,” Salceda said.

“I am confident that the PPP Code will further unclog the PPP pipeline and unleash massive investments towards closing the infrastructure gap.

SEN. Alan Peter Cayetano, chairperson of the Committee on Science and Technology, hears updates on the modernization of the Philippine Institute of Volcanology and Seismology (Phivolcs) for an advanced earthquake monitoring and warning system. Also on the agenda was the creation of the Philippine Atomic Energy Regulatory Authority (PhilAtom), an independent body tasked to oversee the safe and responsible use of nuclear energy.

Joining him are resource persons: Department of Science and Technology Undersecretary for Special Concerns Teodoro Gatchalian (wearing a black jacket) and Phivolcs Director Dr. Teresito Bacolcol. ROY DOMINGO

Don’t blame Charter for ‘Patronatos’ to Tulfo: Don’t FDI woes, say guests judge us at Senate hearing

By Butch Fernandez @butchfBM

T

HREE key resource persons invited by a Senate subcommittee hearing on Resolution of Both Houses No. 6 regarding Charter change weighed in against amending the 1987 Constitution now.

They said its economic provisions should not be made a scapegoat for the lack of foreign direct investments, as this will further draw attention away from the real problems.

Hours after the hearing, the Bangko Sentral ng Pilipinas reported in a separate development that the 11-month FDI net inflows from January to November 2023 suffered double-digit contractions, attributed mainly by BSP to “the lingering impact of high inflation and low growth prospects globally.”

Economist Bernie Villegas, former Comelec commissioner Rene

A

Sarmiento and former Supreme Court Senior Associate Justice Antonio Carpio cited different reasons for the poor investments draw of the Philippines—but not the Charter’s allegedly restrictive provisions‚at the second hearing of the subcommittee chaired by Sen. Juan Edgardo Angara.

Villegas and Sarmiento are former members of the 1986 Constitutional Commission.

In his presentation, Villegas noted the growing interest in recent years on agribusiness investments, including from local conglomerates like the MVP Group.

The government, he said, should cash in on this growing interest, because it shows businessmen, both local and foreign, have found it lucrative to invest in agriculture.

And, Villegas also noted, the feedback he got was that “those who want to invest in agriculture here do not require land ownership.”

GROUP of Filipinos operating under the Patronato system in Italy—providing documentation assistance to wouldbe seasonal workers—have asked Sen. Raffy Tulfo not to lump all of them with the illegal recruiters now facing charges both in Milan and Manila for duping hundreds of P17 million in fees in exchange for nonexistent jobs.

In a letter to Tulfo, chairman of the Senate Commission on Migrant Workers, the group took issue with the senator’s remarks in the first hearing held last week on the case of Alpha Assistenza SRL, describing the CAF/Patronato owned by Filipinos in Italy as “illegal recruiters” and urging Filipinos in Italy not to patronize them.

“We reject these as false and unfair accusations against us. Your accusations insult our group of Filipino professionals and businesspeople who have been working with honesty and integrity in the past several decades, said the Multiservices and Assistance of Pilipino Association (Mapa) in its letter.

Continued on A2

See “Patronatos,” A2

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

21TH CONSTRUCTION DEVELOPMENT CORPORATION Ground Floor, No.28 Lot 12 Blk 94, R. Papa Ave. Cor. P. Garcia St. Phase 6, Afpovai, Western Bicutan, City Of Taguig CHEN, PEIZHI Supply Chain Manager 1.

Brief Job Description: Provide outstanding and exceptional customer service.

WANG, BINZHI Supply Chain Manager 2.

Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: Can speak in Chinese/ Mandarin language fluently.

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

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1, Pioneer St., Barangka Ilaya, City Of Mandaluyong

WHITE CAMARGO, ALEJANDRO AI/ML Computational Science Manager 3.

Brief Job Description: Design and develop artificial intelligence (AI) and machine learning (ML) systems leveraging existing cloud AI services.

ENOMOTO, SHOTA HR Service Delivery Analyst 4.

Brief Job Description: Understands business priority by attending meeting in mostly Japanese and takes actions accordingly.

NAKAHARA, SHUNSUKE Japanese Recruiting Analyst 5.

Brief Job Description: Source and pre-qualify candidates that match requirements. Communicate process and provide status to candidates and stakeholders as required.

ZHU, LILING Marketing Consultant 12.

Basic Qualification: Graduate of bachelor’s degree in Information Technology, Computer Science or other related fields. With 5-10 years related work experience.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Must have at least 1 year of work experience.

Must have both Japanese and English language communication skills.

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

GUTIERREZ, CHRISTOPHE OLIVIER Project Manager

13.

Brief Job Description: Provide the expert services in a skillful, efficient and timely manner that is suitable to the needs of the company. Maintenance of company’s equipment, follow up of construction projects and management/control of company’s property expenses.

GU, JUNLE Chinese Speaking Customer Financial Officer 14.

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

CHEN, XIAOBIN Chinese Speaking Business Development Associate 15.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

DAVID Chinese Speaking Business Development Associate 16.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

6.

Brief Job Description: Head the company to guide its strategic vision and oversee its implementation. Develop and maintain a positive relation between the company and its key customers, vendors and regulators.

WU, QIANQIAN Chinese Speaking Business Development Associate Basic Qualification: MBA holder. Appointed/ Elected by the board of the directors.

17.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

Salary Range: Php 500,000 and above XING, HONGBAO Chinese Speaking Business Development Associate

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

LI, LINGYIN AHS Specialist - CN

7.

Brief Job Description: Communicates effectively with buyers, merchants, and internal customers. Take appropriate action to identify and help minimize the risk posed by fraud patterns and trends. Consistently achieves weekly productivity and quality standards. Participates in ad hoc projects/ assignments as necessary.

Basic Qualification: Proficient in the Mandarin language.

Leverages team knowledge across several specialty areas to help resolve recurring seller issues. Experience in conducting In-person Verifications.

FU, NINGYUAN Marketing Consultant 8.

Brief Job Description: Study company profile, and conduct market research.

GAO, XIAOMENG Marketing Consultant 9.

Brief Job Description: Study company profile, and conduct market research.

WEN, YUEBIN Marketing Consultant 10.

Brief Job Description: Study company profile, and conduct market research.

YANG, QUN Marketing Consultant 11.

Brief Job Description: Study company profile, and conduct market research.

18.

Basic Qualification: College Graduate, fluent in Mandarin and English languages, and preferably 6 mos. to 1 year customer service work experience.

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

19.

20.

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

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

LI, QILIN Chinese Speaking Data Entry Clerk 21.

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

HE, ZONGYING Chinese Speaking Graphic Designer 22.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

LIU, YANPENG Chinese Speaking Graphic Designer 23.

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

Brief Job Description: Correcting errors and organizing the information in a manner that will optimize swift and accurate capturing.

HUANGFU, ZIWEI Chinese Speaking Data Entry Clerk

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

Brief Job Description: Identify and maintain new business opportunities and existing partners.

HAO, RUIXIN Chinese Speaking Data Entry Clerk

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

ASPIRE STANDARD SOLUTION SERVICES INC. 208 B 2/f Mtf Bldg., Dr. A. Santos Avenue, San Isidro, City Of Parañaque

Basic Qualification: College Graduate, fluent in Mandarin and English languages, and preferably 6 mos. to 1 year customer service work experience.

No.

25.

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

Basic Qualification: College graduate.

With at least 5 years of work experience in management and team handling.

26.

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

Brief Job Description: Testing and deploying programs and systems, verify and deploy programs and systems.

NIU, JINGJIE Chinese Speaking Graphic Designer 24.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

27.

ZHOU, LU Chinese Speaking Graphic Designer Brief Job Description: Perform retouching and manipulation of images.

Brief Job Description: Managing HR records including resume, applicant logs and employee forms.

LI, JINGGANG Chinese Speaking Program Designer 28.

Brief Job Description: Documents all aspects of software, for ongoing maintenance and revisions.

LIU, CHENFEI Chinese Speaking Program Designer 29.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

NGUYEN HOAN Chinese Speaking HR Associate

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHAO, MENGQING Chinese Speaking Graphic Designer

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 8th/f & 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque

ACCIONA CONSTRUCTION PHILIPPINES INC. 23/f Tower 2, The Enterprise Center Tower 2, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati CAMBA GARCIA, RUBEN EUGENIO President And Chairman Of The Board

QUALIFICATION AND SALARY RANGE

DA PROSPERITAS HOLDING INC. 2/f National Life Insurances Bldg., 6762 Ayala Ave., San Lorenzo, City Of Makati

Basic Qualification: Japanese native to N3.

With at least 2 years relevant work experience in recruitment (sourcing/ candidate management).

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

Brief Job Description: Study company profile, and conduct market research.

A17

ESTABLISHMENT / ADDRESS

CAMANGA BEST ISLAND INC. 18/f Liberty Center Bldg., 104 H.v. Dela Costa St., Bel-air, City Of Makati

Basic Qualification: Can speak in Chinese/ Mandarin language fluently.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Tuesday, February 13, 2024

Brief Job Description: Documents all aspects of software, for ongoing maintenance and revisions.

CHIU, HSIEN-TE Marketing Consultant (Mandarin Speaking Clients) 30.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

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

Basic Qualification: With experience in computer aided design and good in verbal and written communication.

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

Basic Qualification: With experience in computer aided design and good in verbal and written communication.

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

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Bldg. Newport City, Vab St. Newport Blvd., Barangay 183, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent written and verbal communication skills. Strong organization and project management skills.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Studying company profile and operations to understand its marketing needs. Implementing a marketing strategy according to objectives and budget.

Basic Qualification: Preferably 6 months experience with the position. Can multi-task and keen to details. Any nationality who can speak and write Chinese language fluently.

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

FUJIFILM PHILIPPINES INC. 25th Floor Sm Aura Tower, 26th St. Cor. Mckinley Parkway, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods and good in verbal and written communication.

MIYAKO, TAKASHI Vice-President And General Manager

31.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods and good in verbal and written communication.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods and good in verbal and written communication.

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

HUANG, CHUN-SHENG Chinese Customer Service Representative 32.

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

HUNG, TSUNG-YU Chinese Customer Service Representative 33.

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

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

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

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

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

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

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

Basic Qualification: With experience in computer aided design and good verbal and written communication.

Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

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

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

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

Brief Job Description: Responsible for supporting the senior leadership by managing the lower-level departments and business operations. Provide training, direction and support to employees on their assigned job responsibilities. Ensure employees maintain the highest level of professionalism and competence in their work operations.

Basic Qualification: College graduate. With at least 10 years of full-time working experience at a managerial capacity in a similar/related industry.

DO, HONG SON Vietnamese Customer Service Representative 34.

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

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

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

BusinessMirror

A18 A6 Tuesday, February 13, 2024

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DUONG TRONG PHONG Vietnamese Customer Service Representative 35.

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

LY SIU NANG Vietnamese Customer Service Representative 36.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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

49.

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

GRAND EVEREST HOLDING INC. 17/f M1 Tower, 141 H.v. Dela Costa St., Bel-air, City Of Makati

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

BONG, WIYOUNG Multilingual Project Manager

37.

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

NGUYEN THI NGOC LE Vietnamese Customer Service Representative 38.

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

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

50.

39.

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

ROGER LING CHOON SHIUH Chinese Speaking Business Financial Officer 51.

40.

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

HUYNH, TUAN TUONG Marketing And Communications Specialist

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

Brief Job Description: Manage online and offline communication with clients and increase brand awareness. Distributing promotional material, responding to customers’ queries and comments on social media and networking during marketing events.

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

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

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

TRUONG HOANG LONG Vietnamese Customer Service Representative 41.

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

52.

TRAN HOA LONG Marketing And Communications Specialist 53.

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

GH EXCELLENT CONSTRUCTION DEVELOPMENT CORPORATION Unit 1709 One Park Drive 9th Avenue Corner 11th Drive, Bonifacio Global City, Fort Bonifacio, City Of Taguig

42.

Brief Job Description: Supervising the day-to-day operations of the administrative department and staff members.

54.

GLARION TECHNOLOGIES CORPORATION 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

43.

44.

45.

46.

47.

48.

LIM KOK LENG Call Center Agent Brief Job Description: Customer service.

LIU, JUNWEI Call Center Agent Brief Job Description: Customer service.

LUO, XIAOYU Call Center Agent Brief Job Description: Customer service.

NGUYEN HUY HUONG Call Center Agent Brief Job Description: Customer service.

NGUYEN THI TUYET Call Center Agent Brief Job Description: Customer service.

NGUYEN VAN NHAT Call Center Agent Brief Job Description: Customer service.

QUALIFICATION AND SALARY RANGE

Brief Job Description: Manage and develop new customers, while maintaining existing sales within assigned customers and a given sales territory. Develop a daily/weekly call list and maintain information accuracy monthly. Review daily sales reports.

Basic Qualification: College graduate. With working knowledge in the field of construction.

Fluent in both Korean and English languages.

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

55.

CHEN, PU Senior Product Management Manager For PLDT Target Network Planning And Globe FMEC Network Evolution Brief Job Description: To study and understand customer strategies and pain points and develop customized feature and solution.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

KAJI, SHINYA Senior Design Manager 56.

Brief Job Description: Prepares conceptual design, planning, sample board presentation, prepares construction drawing, details, attend coordination meetings regarding design changes and coordinate with the Design Consultant regarding design drawings.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Basic Qualification: Can speak, write, and type in Mandarin language.

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

GOODMORNING BUILDERS CORPORATION 8272, Dr. A. Santos Avenue Corner Vitalez Compound, San Isidro, City Of Parañaque

63.

Basic Qualification: Graduated with a bachelor’s degree in Computer Science & Technology/IT & other related courses preferably with master’s degree. Highly proficient in Chinese and English languages.

Salary Range: Php 500,000 and above

Brief Job Description: Build retail organization, expand the construction retail store, or display zone, manage, and train the retail Field Force team, and promote the successful launch of products.

GUAN, JINTANG Chinese Speaking Solutions Consultant 58.

Brief Job Description: Provide accurate reports to solutions manager, sales, and delivery teams.

64.

YANG, MINGLI Customer Service Representative 59.

Brief Job Description: Provide outstanding and exceptional customer service.

65.

66.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

DANG HOANG QUAN Customer Service Representative

67.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

ERPYANI Customer Service Representative

68.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well HA, THI THEM Customer Service Representative

69.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

HO CHAU GIANG Customer Service Representative

70.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

HUYNH, THI AI DIEU Customer Service Representative

71.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

LE QUOC VU Customer Service Representative

72.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well LE THI PHUONG Customer Service Representative

73.

Basic Qualification: Knows how to speak Chinese-Mandarin language fluently.

MIZUHO BANK, LTD. - MANILA BRANCH Units 1-8, 25/f Zuellig Bldg., Makati Ave. Cor Paseo De Roxas, Urdaneta, City Of Makati

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

CHI NGUYET HAI Customer Service Representative

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

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

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

CAO, THI NGOC MINH Customer Service Representative

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

MARKETROLE ASIA PACIFIC SERVICES, INC. 27/f & 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

Brief Job Description: Customer service.

ALVIN OOI YE JIA Customer Service Representative

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

Basic Qualification: College graduate.

With minimum of 10 years of extensive work experience in the construction industry.

With knowledge of local codes and international standard specifications.

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

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

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

OCEAN MIGHT SUPPORT MANAGEMENT INC. 33/f Tower 6789, Ayala Ave., Bel-air, City Of Makati

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

MACRO EXCEL CONSULTANCY INC. Unit 606 6/f Vicente Madrigal Bdg., 6793 Ayala Ave., Bel-air, City Of Makati

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

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

62.

JIANG, JHIH-CHENG Call Center Agent

WEI, DEPENG Call Center Agent

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

Basic Qualification: College graduate.

With at least 5 years of managerial-role experience in the BPO Industry.

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors, Century Diamond Center, Poblacion, City Of Makati

Basic Qualification: Can speak, write, and type in Mandarin language.

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

57.

Brief Job Description: Lead the company’s training and quality function.

Define competitive and business-driven targets.

Tract targets to closure and address roadblocks, if any, in achieving targets.

Brief Job Description: Customer service.

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

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

61.

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

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

ZHOU, FENG Retail Manager

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

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

BHATIA, RAJIV ASHOK Director - Training And Quality

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

Basic Qualification: Can speak, write, and type in Mandarin language.

Basic Qualification: Bachelor’s degree in business or related course, at least 10 yrs. of experience in a Japanese bank, preferably Heald an executive-level role, training in financial analysis & other relevant banking procedures, and native Japanese speaker with excellent English communication skills.

MOVATE PHILIPPINES, INC. 3rd Floor Bonifacio Technology Center, 31st Corner 2nd Avenue Crescent Park West, Bonifacio Global City, Fort Bonifacio, City Of Taguig

KMC MAG SOLUTIONS, INC. 20/f, Picadilly Star Building, 4th Avenue Corner 27th Street, Fort Bonifacio, City Of Taguig

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

TAKEFUJI, KAZUKI Department Head And Senior Vice President Of Japanese Corporate Banking Department 1 And Business Development Department

QUALIFICATION AND SALARY RANGE

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

KAJIMA PHILIPPINES INCORPORATED 12/f, Makati Sky Plaza 6788 Ayala Avenue, San Lorenzo, City Of Makati

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

60.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Provide leadership and strategic direction to the department.

Basic Qualification: BSc/BA in business administration, sales, or relevant field. MSc/MA is desirable. Excellent knowledge of retail management software (e.g., MS RMS). Proven experience as retail manager or in other managerial position.

Knowledge of retail management best practices. Outstanding communication and interpersonal abilities.

Excellent organizing and leadership skills. All parties to the project are able to make optimum decisions based on information furnished from the site.

Basic Qualification: College graduate/level and fluent in Mandarin/ basic English language.

No.

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

Basic Qualification: Proven work experience as Operations Manager or similar role.

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

Brief Job Description: Manage online and offline communication with clients and increase brand awareness. Distributing promotional material, responding to customers’ queries and comments on social media and networking during marketing events.

NGUYEN, NGOC ANH Sales Representative

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

BONG WEI SHENG Administrative Manager

Brief Job Description: Ensure financial records are kept up-to-date with the latest transactions and changes.

ESTABLISHMENT / ADDRESS

HAIDILAO PHILIPPINES RESTAURANT CORPORATION 109-113, 114ab-115ab (em) Mall Of Asia Complex, J.w Diokno Blvd., Barangay 76, Pasay City

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

TANG HUU HUNG Vietnamese Customer Service Representative

Brief Job Description: Ensure financial records are kept up-to-date with the latest transactions and changes.

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

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

NGUYEN, THI CAM LY Vietnamese Customer Service Representative

Brief Job Description: Collaborate with engineers, architects etc. to determine the specifications of the project.

Negotiate contracts with external vendors to reach profitable agreements.

GUO, PENG Chinese Speaking Business Financial Officer

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

NGUYEN DANG VUONG Vietnamese Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Process complaints and issues related to product or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

LIN, PEI-YU Customer Service Representative 74.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LU GIA PHOI Customer Service Representative

75.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

METTA Customer Service Representative

76.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well NGUYEN THANH NHU Customer Service Representative

77.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

NGUYEN TRONG THAI Customer Service Representative

78.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

NGUYEN, PHAN TRONG TIN Customer Service Representative

79.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well PHAN TIEN DUNG Customer Service Representative

80.

Brief Job Description: Process complaints and issues related to products or services. They help customers complete purchases, upgrades, returns and frequently provide advice and technical assistance.

SAE-LEE, ATHITTHIYA Customer Service Representative

81.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

SAELEE, CHADTARIN Customer Service Representative

82.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

SPENDRA Customer Service Representative

83.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

SU SAY SANG Customer Service Representative

84.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well TANG MAN XIU Customer Service Representative

85.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well TRAN XUAN AN Customer Service Representative

86.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well VONG SUI VANH Customer Service Representative

87.

Brief Job Description: Process complaints and issues related to products or services, help customers complete purchases, upgrades, and returns, and frequently provides advice and technical assistance as well

YONG LEONG LUNG Customer Service Representative 88.

Brief Job Description: Process complaints and issues related to product or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

YONG LEONG SIK Customer Service Representative 89.

Brief Job Description: Process complaints and issues related to products or services, they help customers complete purchases, upgrades, and returns, and frequently provide advice and technical assistance as well.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

No.

CHEN, GUANLING Vice President 91.

92.

93.

Brief Job Description: Developing and implementing strategic plans and company policies, establishing company goals and objectives, both short-term and long term and advising the board of directors on strategic issues.

Brief Job Description: Responsible for overseeing the ongoing operations of all divisions in the company and its IT infrastructure, manages and directs the company towards its primary goals and objectives and oversee employment decisions at the executive level of the company.

CHHATTANI, JAI KISHAN Director

94.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

95.

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

96.

Brief Job Description: Develop overall operational strategies for local Chinese seller business in Philippines based on platform business direction and data analysis.

HUANG, YAWEN Associate, Business Development Cn Seller Management (FMCG)

97.

Brief Job Description: Oversee assigned top Marketplace accounts, including negotiating deals, operational improvement and campaign participation to maximize growth.

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

Basic Qualification: College graduate. With at least 1-year managerial experience in a related field. Proficient in Korean and English languages.

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

103.

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

Basic Qualification: BS degree holder. Fluent in Mandarin language.

104.

105.

106.

SAITO, KEN HR & GA Section Manager 98.

Brief Job Description: Formulate HR policies, compliance with employment and labor laws, compensation and benefit structure and human resources planning.

99.

PHAOPHENG, KOTCHAKON Thai Marketing Specialist Brief Job Description: Manages daily operations of the IT department.

Basic Qualification: At least 19 y/o, and ability to speak, write and communicate in their respective language.

108.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

HUYNH VAN VU Bilingual Customer Service Specialist

101.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages.

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

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

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

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

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

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

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

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

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

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

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

LEE, DONGSUK General Manager 109.

Basic Qualification: Excellent in bilingual languages.

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

Basic Qualification: Excellent managerial experience.

Brief Job Description: Responsible to run the day-to-day operations of the business.

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

VICCI BUSINESS CONSULTANCY CORP. 44/f Pbcom Tower, 6795 V.a. Rufino St., Bel-air, City Of Makati

AUNG HTET KHAING Customer Relation Representative (Mandarin Translation)

Basic Qualification: Fluent in English, Mandarin and any language.

Brief Job Description: Handles service support calls, emails and chats related to client’s inquiry.

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

WELL SOLUTION CORP. Unit 1100-d 11/f Vicente Madrigal Bldg., 6793 Ayala Avenue, Bel-air, City Of Makati Basic Qualification: With experience as brand marketing consultant or experience senior marketing position.

ZHOU, QIYUAN Chinese Speaking Brand Marketing Specialist 111.

Brief Job Description: Preparing report and marketing presentations & developing strategies and goals.

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

LIN, LITING Chinese Speaking Digital Marketing Specialist 112.

Brief Job Description: Assists in managing paid advertisements campaign across multiple channels.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

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

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

113.

YOON, TAEKWEON Bilingual Support Service Brief Job Description: Provide support services and resolves the issues.

Basic Qualification: Proficient in speaking in English and Korean languages.

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

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

YANG, GUOWEI Records Supervisor 114.

CHU LUU GIANG Bilingual Customer Service Specialist

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

VENTANAS PHILIPPINES CONSTRUCTION INC. Unit 1508 High Street South Corporate Plaza Tower 2, 11th Avenue Corner 26th Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

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

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

YIM, TAESOON Bilingual Marketing Operation Specialist

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

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. 6/f Filinvest Cyberzone Bldg. B, Superblock A Central Business Park 1 Bay City St., Barangay 76, Pasay City

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages.

TRAIPAYUNG, KULRAPAS Bilingual Customer Service Specialist

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

Basic Qualification: College graduate. With proven experience in operational activity and office service and administration. With effective management and leadership skills.

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

ROBERTO, THAISLANY CRISTINA Bilingual Customer Service Specialist

Basic Qualification: BS degree holder. Fluent in Mandarin language.

Basic Qualification: BS degree holder. Fluent in Mandarin language.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

PATHUMCHOTE, NAKIN Bilingual Customer Service Specialist

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

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

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages.

MACH VI HAO Bilingual Customer Service Specialist

107.

Basic Qualification: College graduate. With at least 15 years of work experience in a similar position. With strong knowledge of motivating others, and overseeing personnel and ensure the smooth operation of a business. With excellent verbal and written communication skills.

QUALIFICATION AND SALARY RANGE

LEE PEI NEE Bilingual Customer Service Specialist

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

SUMITOMO METAL MINING PHILIPPINE HOLDINGS CORPORATION 24th & 25th Floor Nac Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

102.

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

Basic Qualification: Holder of a Bachelor of Arts in Computer Science.

With previous managerial experience in a similar industry. Proficient in English and Russian languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JULABUT, PONGSAKORN Bilingual Customer Service Specialist

110.

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

Brief Job Description: Oversee assigned top Marketplace accounts, including negotiating deals, operational improvement and campaign participation to maximize growth.

ZHONG, JIAYU Associate, Business Development (Seller Management - Projects)

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

Brief Job Description: Supervising employees in a fair, consistent manner.

Supervisory duties include hiring and firing of employees and resolving disputes or other issues that arise among employees. Overseeing personnel, ensure the smooth functioning of business, and responsible for ensuring that every IT related systems operate cohesively.

LIN, JIALIN Analyst, Business Development PH CN Project Team - Seller Education

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

Basic Qualification: 4 or more years of experience in the security in a multi-region country setting.

SHOPEE PHILIPPINES INC. Levels 43-49 West Tower, The Podium, Adb Avenue Cor. Ortigas, Wack-wack Greenhills, City Of Mandaluyong

Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

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

No.

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

SADGURU TRADERS INC. Unit T, 1a West Service Road, Sun Valley, City Of Parañaque

100.

90.

Brief Job Description: Takes direction from the APAC Security Manager.

KOPYSOV, KONSTANTIN Chief Technology Officer

PHILIPPINE HANATOUR INC. 9th Flr. (zone 2) & 10th Flr. Brittany Hotel, Block 2 & 4, Lot 15222 , C, D & F Mini Park Mckinley Parkway, Bgc, Fort Bonifacio, City Of Taguig

CHOI, YONG WON General Manager

RAUL, OM DATTATRAY Geographic Security Leader

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Basic Qualification: College graduate with at least 5 years of work experience in a related field. Fluent in ChineseMandarin language.

RIVETED SOFTWARE CORPORATION 28/f The Enterprise Center Tower 2, 6766 Ayala Ave Cor. Paseo De Roxas, San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

QUALIFICATION AND SALARY RANGE

PROCTER & GAMBLE PHILIPPINES, INC. 10f Seven/neo, 5th Ave., Crescent Park West, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

Brief Job Description: Monitor implementation of program policies and practices. Oversee, guiding and evaluating the work of the employees. Prepare operational budgets and look for ways to increase revenue and decrease cost.

A19

ESTABLISHMENT / ADDRESS

PHILIPPINE LHJ INC. 888, Unit 7 Warehouse, Marcos Alvarez Ave., Talon Singko, City Of Las Piñas

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 years old. Good organizational skills, and proficient in relevant computer applications.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Tuesday, February 13, 2024

Brief Job Description: Works with Microsoft office suite programs, electronic health records systems, or other relevant databases.

Basic Qualification: Can speak, write, and type in Mandarin language.

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

*Date Generated: Feb 12, 2024 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

Editor: Jennifer A. Ng

Companies BusinessMirror

Tuesday, February 13, 2024

B1

Exec: Core brands to boost Dito coverage to reach 84% by H1 ’24 growth of Unilever PHL

U

By Andrea E. San Juan

@andreasanjuan

nilever Philippines, the subsidiary of multinational consumer goods company Unilever, said it is targeting to grow its revenues by at least 5.6 percent this year.

“Our growth has always been above (the) GDP (growth rate of the Philippines). That’s what I can commit to you,” Fredy S. Ong, Unilever Philippines chairman and CEO, told reporters at a briefing in Taguig City on Monday. “We will continue to deliver high growth.”

Ong said the financial performance of the company will be released in April.

He noted that Unilever Philip-

pines’ revenues will be driven by its “core brands,” such as Sunsilk, Cream Silk, Knorr, and Selecta.

“What we intend to do is to invest heavily in our core brands.

That’s the first thing that we plan to do.”

Ong also said the company is banking on its innovation initiatives to boost growth. “We plan to scale up all the innovation plans… that’s available in different coun-

tries, but we want to pick those that are relevant to the market. So innovations, new products, innovations, new products. It’s something that will help grow the category and hopefully upgrade people to premium portfolio.”

Unilever is one of the biggest fast-mov ing consumer goods (FMCG) firms in the country, with category positions in nutrition, beauty and wellbeing, personal care, ice cream and home care.

Calling these five categories “Unilever Compass Organization,” Ong said this is an operating model organized around the five business groups or categories which will help in driving the consumer goods firm’s growth.

The company spent some P4.8 billion on the construction of a personal care factory in General Trias, Cavite. Its commercial operations

kicked off last year. Ong said this facility is expected to increase its production capacity by 15 percent.

The Board of Investments said last December 2022 that the new facility will use the advanced 4th industrial revolution lighthouse which is also being used in other Unilever global facilities.

The General Trias facility is projected to have an annual capacity of 88,000 tons of personal-care products.

Meanwhile, Ong said the Philippines is Unilever’s “fastest growing and second biggest” personal care business in Southeast Asia. Among the brands in this portfolio are Dove, Rexona, Axe, Close-up, Lifebuoy and Pepsodent.

The Nutrition Philippines business unit, he noted, is a “strong category leader in Scratch Cooking Aids and Dressings.”

DOE to hold 3rd green auction

By Lenie Lectura @llectura

T

he Department of Energy (DOE) is set to bid out 4,399 megawatts (MW) of renewable energy (RE) capacities under the third round of the Green Energy Auction (GEA).

On Monday, the agency issued a notice of auction for 699MW from impounding hydro; 3,120MW from pump-storage hydro; and 380MW from geothermal.

The target capacities for both impounding hydro and pumped-storage hydro will have to be installed from 2028 to 2030. For geothermal, the target delivery period is from 2024 to 2030.

Also, an estimated 200MW of RE capacity from run-of-river (ROR) hy-

dro is expected to be auctioned off, with a target delivery commencement period beginning 2026 to 2028.

The notice of auction and the release of the GEA Reserve (GEAR) prices is scheduled on April 29 while the start of registration of qualified bidders is set on May 13.

The DOE will release the list of qualified bidders on July 4, 2024.

The GEA3 is scheduled on August 21 while the posting of notice of award for ROR hydro and for geothermal, impounding hydro and pump-storage hydro is on September 18 and December 10, respectively.

“The DOE will conduct the third round of the GEA this year as part of the Department’s push for increased utilization of the country’s RE resources and attainment of energy

security and reliability.”

The GEA program was designed to continuously trigger the increase of RE capacity in the country, which will help realize the government’s target of 35 percent RE in the energy mix by 2030 and 50 percent by 2040.

The DOE wants the GEA to be conducted on a yearly basis, in a bid to promote RE as the country’s primary source of energy.

“Through the GEA3, the DOE is not only paving the way for a more sustainable future but is also ensuring a transparent and competitive selection of RE facilities.”

For the past two rounds of GEA, the Energy Regulatory Commission imposed GEAR prices on rooftop solar, floating solar, onshore wind, biomass, waste-to-energy, and runof-river hydro.

The first round of GEA generated almost 2,000MW of capacities that were committed to deliver energy from 2023 to 2025.

For the second round, the winning bids were equivalent to 3,440.756 MW of RE capacities committed for development and installation from 2024 to 2026.

The DOE earlier cited supply limitation, low incentives, delay in the conduct of grid impact studies, and the cost of financial guarantees as some of the factors behind the low investor turnout during GEA-2.

Industry stakeholders, however, argued that the GEAR prices do not reflect the realities of the current demand and supply of electricity in the country, nor is it encouraging RE developers to build.

SM bags Local properties retain Forbes star ratings 14 Anvil awards F T

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

he SM Group, led by SM Investments Corp. (SMIC), received 14 awards for public relations during the 59th Anvil Awards.

As a nod to transparent and social good reporting, SMIC received an award or its 2022 Integrated Report: Serving Communities while Belle Corp. was awarded its first Anvil for the company’s 2022 Integrated Report: Enhancing Communities.

Other publications of the group that clinched awards were BDO Unibank Inc.’s The Wayfinder newsletter; SM Foundation Inc.’s Social Good Report: Sharing Stories and Rallying Partners for Social Good; and SM Retail Inc’s NewSMaker2.0: Reimagined Digital Newsletter for a more DELITEful SM Life Experience.

“At the SM group, we believe that effective communication is a cornerstone of success. Clear, meaningful and collaborative communication is key and we are grateful to the Public Relations Society of the Philippines for the recognition. We will continue our commitment to transparent reporting for the benefit of our stakeholders and in delivering various services and programs for the welfare of the communities we constantly serve,” Frederic C. DyBuncio, SMIC president and CEO, said in a statement. VG Cabuag

OURTEEN of 15 Philippine hospitality properties retained their star ratings in the 2024 Forbes Travel Guide (FTG).

According to the FTG website on its Star Award Winners, continued recipients of the five-star rating in the country were Nüwa Manila at the City of Dreams and Nüwa Spa at the Entertainment City in Parañaque, Okada Manila and The Retreat Spa at Okada Manila also at the Entertainment City, The Peninsula Manila in Makati City, and Sky Tower at Solaire Resort Entertainment City.

Losing one star is Marco Polo Ortigas Manila in Pasig City, and now rated among other properties which retained their fourstar rating such as Hyatt Regency Manila and Nobu Hotel Manila, both at the City of Dreams; Raffles Makati; Shangri-la at The Fort in Bonifacio Global City; and Sofitel Philippine Plaza Manila in Pasay.

FTG doesn’t say why it downgraded its rating on Marco Polo Ortigas, which has been consistently rated five stars since 2017.

Retaining their “Recommended” rating from FTG were Conrad Manila in Pasay and the recently reopened Makati Shangri-La Manila, which surprisingly made the

list last year despite its closure since February 2021. (For full list and reviews, http://tinyurl. com/y5dmsxk3) The Forbes Travel Guide is an independent global rating system for luxury hotels, restaurants, spas, and cruise ships. The 66th edition of the Star Awards features 2039 properties around the globe, of which 340 hotels received five stars, 600 hotels received four stars, while 502 hotels were on the recommended list.

FTG also reviewed 258 restaurants, of which 78 received five stars, 121 received four stars, and 59 were recommended. Of the 327 spas reviewed worldwide, 126 spas were rated five stars and 201 were rated four stars.

FTG Editor Jennifer Kester said after rushing to the iconic destinations like Paris, Rome, and the Maldives shortly after the reopening of borders post-pandemic, travelers are now “seeking out more meaningful trips where they can embark on once-in-a-lifetime experiences, like a safari. They also are booking trips to smaller metropolitan areas, cities rich with culture, gastronomy and activities, but without the crowds.”

As such, new destinations were included in FTG’s review, such as Azerbaijan, Curacao, Iceland, Kenya, Sardinia and St. Vincent and the Grenadines.

“FTG compiles its ratings us-

ing an objective, independent and data-driven process. Incognito inspectors pose as everyday guests and stay at hotels, board cruises, receive spa services and dine at fine restaurants around the world. They test some 900 exacting standards—such as whether a room is designed to promote sleep quality or whether the food-andbeverage choices support a guest’s well-being—emphasizing exceptional service, which accounts for 70 percent of a property’s rating,” said Kester.

“Newer standards focus on the guest experience, such as ensuring ‘cocktails are dynamically interesting and photogenic’ and even asking if the inspector would ‘readily recommend this property to others.’ The remaining 30 percent comes from the quality and condition of the facilities. Finally, inspectors are now required to reflect on whether there was great value in the experience,” she added.

According to FTG, it offers a partnership program for properties that it star-rates, “which provides transparency into the Star Rating process and access to our exclusive Partner community.

Partners receive valuable benefits including a complete list of FTG standards, a full report of their annual Rating inspection results, and policy privileges such as cycle selection and remedy periods.”

T

hird telco Dito Telecommunity Corp. is optimistic that it will attain its target of an 84-percent population coverage by the first half of this year, according to a company official.

“I believe, we’re around 82 percent now. We just need 2 percent more.

We’re looking to achieve that in the middle of this year. We are very confident that we will make it,” Dito Chief Commercial Officer Evelyn Jimenez told the BusinessMirror on the sidelines of the launch of the second Galing Dito campaign in Makati City.

Based on its certificate of public convenience and necessity, Dito is mandated to meet its voluntary commitments annually for the first five years of its operations. Otherwise, it will lose its P24 billion performance bond.

From its inception in 2019 up to 2024, it is committed to cover 84

percent of the country’s population and offer a minimum median speed of at least 55 Mbps by then.

Dito CEO Eric Alberto said the company plans to expand its presence in all regions in the country.

“As we continue to bolster our network across the nation, we intend to further strengthen the regional teams in parallel to better serve our subscribers, particularly the youth, by providing them early on the right tools to be ready for the digital first and global future,” he said.

“Our network [expansion is] really very aggressive and very fast.

Imagine, we only started building in 2019, and now in 2024 we’re almost going to be 84 percent. No other telco in the world is able to do that,” Jimenez said, adding that the company banks on technology like artificial intelligence to identify its coverage areas. Roderick L. Abad

B2

Companies BusinessMirror

Tuesday, February 13, 2024

Davao de Oro landslide hits operations of Apex Mining

By VG Cabuag

A

@villygc

pex Mining Co. Inc. said it is operating on a limited capacity due to the landslide that occurred on its premises in Barangay Masara, Maco, Davao de Oro last week.

Since February 7, the milling activities are reduced to a range of 50 percent to 80 percent, the company said.

Shipment and sale of metal products produced in January were completed before the landslide occurred, the company said.

Apex said it expects to produce and sell a lower volume of gold and silver due to the limited operations.

Davao de Oro was battered by heavy rains in the last two weeks.

The area where the slide happened is outside the mine operations area of the company but it is used as a vehicle terminal for buses and jeepneys servicing the employees, its service providers and members of the community.

“The company is focused on fully supporting the rescue operations of the local government units by providing equipment, manpower and food supplies to affected residents, including our employees. The com-

the company, the Maco Municipal Disaster Risk Reduction and Management Office of Maco, Davao De Oro reported a total of 54 dead, 63 missing and 32 injured individuals as of Sunday evening.

“Personnel from safety, security, community relations, general services, geologists, heavy equipment machine operators were deployed and continue to assist in the search, retrieval, rescue and relief operations,” the company said.

Power supply is continued uninterrupted at the mining site to maintain the necessary ventilation and dewatering of the active underground tunnels where our limited manpower operates. Ore stockpiles mined in the previous days are being milled, it added.

“Strategies will be implemented to address production gaps once the rescue, retrieval and clearing operations have been completed.”

pany is on limited operations while it provides resources to the rescue operations.”

The landslide is about 500 meters away from the company gate. Three buses and one jeepney rented to ferry the employees and service providers from the outgoing 7 p.m. shift were buried during the landslide.

“As of this reporting, all these vehicles have been recovered.”

The company said nine Apex employees were recovered dead from the landslide site, and one was injured and is currently being treated in a hospital in Davao region.

Search and rescue operation continues to account, locate and search for nine unaccounted for or missing employees. Their efforts are hampered by moderate to heavy rains, minor landslides and earthquake.

On the overall headcount, including residents and non-employees of

PSALM to turn over CHEPP to First Gen unit

By Lenie Lectura

MUTUAL FUNDS

@llectura

T

he Power Sector Assets and Liabilities Management Corp. (PSALM) has scheduled in the next few days the turnover of the 165-megawatt (MW) Casecnan Hydroelectric Power Plant (CHEPP) to Lopezled First Gen. Corp.’s subsidiary Fresh River Lakes Corp. (FLRC).

“The parties are now preparing for the ceremonial turnover of the CHEPP on February 26, 2024,” the state firm said Monday.

T h i s a f ter t he Ph i l ip pi ne Competition Commission (PCC) cleared the acquisition of the CHEPP by FLRC. Following PCC’s clearance, PSALM issued its Certificate of Effectivity to FLRC on January 31, 2024 which marked the Casecnan final transaction documents effective and binding among the parties composed of PSALM, the National Irrigation Administration (NIA) and FRLC. In May last year, FRLC was declared the highest bidder with its offer of $526 million during

NAV

One Year Three Year

per share

Five Year

Y-T-D

Return*

Return

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

3.66%

-0.31%

-3.73%

-0.07%

1.5083

3.47%

4.71%

-0.97%

1.95%

2.41%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0911

222.74

2.52%

-0.15%

-5.89%

-1.91%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7118

0.49%

-3.22%

-5.72% n.a

First Metro Consumer Fund, Inc. -a

-2.5%

-5.65% n.a

5.21%

-2.8%

5.21%

ATRAM Alpha Opportunity Fund, Inc. -a

the public bidding conducted by PSALM for the sale of CHEPP. Its bid offer surpassed the $227.27 million minimum bid price of the CHEPP set by PSALM. CHEPP is a run-of-river type of power facility with limited impounding located in Barangay Villarica, Pantabangan, Nueva Ecija.

Fi rst G e n e a rl ier se c u re d a P20 -billion loan from BDO Unibank Inc. and Bank of the Philippine Islands (BPI).

“First Gen intends to use the proceeds from the loans as funding for First Gen’s growth projects, including the acquisition of the 165-megawatt CHEPP, and for other general corporate requirements of the company,” the company said.

First Gen President Francis Giles Puno had said the CHEPP is an important asset that would be tied up to its two existing hydro assets—132MW Pantabangan-Masiway and the 120MW Aya pumped-storage hydro—which are all located in Pantabangan, Nueva Ecija.

“Right now, when you look at Casecnan, fundamentally it’s a very important asset for us because we obviously have Pantabangan-Masiway there. We have the plans for project Aya, which is there. So we really needed to make sure that the reservoir is controlled

by First Gen. Casecnan is upstream and to the extent that we could supplement even more supply coming from the upstream side of Casecnan, then that will help Pantabangan-Masiway and project Aya. It also enables us to build out solar and wind as well because those are also intermittent. If we add it up, we create an RE portfolio,” said Puno.

0.6582

-6.16%

First Metro Save and Learn Equity Fund, Inc. -a 4.87121.23%

-0.07%

5.69%

0.13%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.73140.51%

0.09% n.a n.a

MBG Equity Investment Fund, Inc. -a

-7.37% n.a

83.33

2.74%

PAMI Equity Index Fund, Inc. -a 45.5212

1.35%

-0.63%

-2.98% n.a

6.08%

Philam Strategic Growth Fund, Inc. -a

472.97

3.42%

-0.75%

-3.02%

-0.02%

5.72%

Philequity Dividend Yield Fund, Inc. -a

1.2395

2.49%

2.11%

-1.41%

2.43%

2.84%

Philequity Fund, Inc. -a

2.08%

0.87%

-2.02%

1.73%

5.18%

Philequity MSCI Philippine Index Fund, Inc. -a 0.9176 3.93%

0.58%

-2.68% n.a

5.85%

Philequity PSE Index Fund, Inc. -a

4.7796

2.13%

0.24%

-2.23%

1.62%

5.97%

Philippine Stock Index Fund Corp. -a

795.35

2.07%

0.05%

-2.3%

1.6%

5.97%

Soldivo Strategic Growth Fund, Inc. -a 0.7188

2.61%

0.24%

-4.69% n.a

4.83%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5806

0.13%

35.3774

-5.78%

2.05%

-0.05%

-3.81%

-0.24%

-2.59% n.a

United Fund, Inc. -a

0.98%

5.25%

3.2535

1.08%

-0.48%

-2.76%

4.94% 1.87%

5.62%

-1.95%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9022 1.85%

6.43% 6.02%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.11741.87% n.a n.a n.a

5.85%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0234 n.a n.a n.a n.a 1.86% Philequity Alpha One Fund, Inc. -a

1.0465

-6.53%

-0.83% n.a n.a

2.7%

Philippine Stock Index Fund Corp. -a

965.68

2.03% n.a n.a n.a

5.99%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 108.12872.71% 0.48%

-1.98%

2.31%

6.07%

Primarily invested in foreign currency securities (shares) AsiaPlus Equity Fund, Inc. -b $0.7957

-15.95%

-4.22%

-1.36%

-3.2%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7198

-12.28%

13.38%

-1.16%

7.36% n.a

ATRAM 3.49%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.2542

5.35%

-0.18%

-0.6%

0.65%

1.83%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5469

4.83%

-2.49%

-2.29%

-1.19%

2.4%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5784

0.3%

-0.32%

-0.72%

-0.48%

3.27%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1979

-1.59%

0.24% n.a n.a

3.94% NCM Mutual Fund of the Phils., Inc. -a

1.992

-0.12%

0.43%

0.74%

1.73%

PAMI Horizon Fund, Inc. -a

3.661

3.45%

-0.93%

0.03%

0.88%

2.96%

Philam Fund, Inc. -a

16.0427

3.43%

-1.61%

-0.61%

0.58%

3.08%

Solidaritas Fund, Inc. -a

2.0879

2.79%

0.05%

-0.71%

1.39%

2.95%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.518

2.53%

-0.37%

-1.76%

0.43%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9325

1.71%

-0.83% n.a

3.12%

2.33%

3.05%

3.23%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.953 1.5%

-0.96% n.a

1.35%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.88291.26%

-2.1%

-2.43% n.a

4.23%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.86450.85%

-2.09% -2.21%

-2.84% n.a

4.71%

Primarily invested in foreign currency securities (shares) Dollar Fund Builder, Inc. -a $0.03282

-0.64%

-5.43%

-1.65%

0.08%

-1.17%

PAMI Asia Balanced Fund, Inc. -b $0.8843 -8.13%

-9.53%

-1.84%

-0.88%

-3.37%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3719

8.45%

-2.6%

4.39%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0421

3.51%

-4.31%

0.84% n.a

3.23%

Cocolife

1.86% 0.11%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 391.63

3.17%

1.76%

2.55%

ATRAM Corporate Bond Fund, Inc. -a

1.9166

1.29%

0.21%

0.47%

0.17%

0.4%

Cocolife Fixed Income Fund, Inc. -a

3.3355

2.4%

1.2%

2.22%

2.34%

3.74%

0.31%

Ekklesia Mutual Fund, Inc. -a 2.281

2.98%

-0.22%

1.24%

1.55%

-0.22%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4532 Philam Bond Fund, Inc. -a

0.29%

1.56%

0.07%

1.95%

2.89%

-2.4%

1.95%

1.24%

0.23%

Philam Managed Income Fund, Inc. -a

1.3846

3.95%

1.52%

3.15%

1.86%

0.83%

Philequity Peso Bond Fund, Inc. -a

4.0374

2.61%

0.44%

2.42%

1.87%

0.07%

Soldivo Bond Fund, Inc. -a

2.36%

0.42%

2.93% n.a

0.21%

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

3.3069

3.28%

1.05%

3.17%

2.44%

Sun Life Prosperity GS Fund, Inc. -a

2.53%

0.3%

2.33%

1.76%

-0.25%

4.3076

1.0519

1.7649

1.39%

-0.17%

-0.18%

Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3

1.0156 n.a n.a n.a n.a

0.79%

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

$496.79

2.68%

0.79%

1.97%

2.5%

ALFM Euro Bond Fund, Inc. -a Є214.33

1.51%

-0.79%

0.01%

0.79%

0.16%

-2%

0.07%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248 2.48%

-2.06%

-0.16% n.a

-0.82%

PAMI Global Bond Fund, Inc. -b $0.8512

-1.21%

-7.9%

-4.07%

-3.2%

-0.72%

Philam Dollar Bond Fund, Inc. -a

$2.2915

2.45%

-3.23%

0.66%

1.8%

-1.22%

1.42%

-0.76%

1.31%

1.59%

0.42%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.755

-0.52%

-4.98%

-1.18%

0.41%

Philequity Dollar Income Fund, Inc. -a $0.0611673

ALFM

0.31%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0343-0.63% -6.54%

-0.4%

-2.78%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.32

2.46%

2.07%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1126 3.32%

2.87%

1.84%

1.98%

2.13% n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.38042.88%

2.43%

2.06%

2.06%

0.33% 0.38%

0.34%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 105.1

4.22% n.a n.a n.a

0.5%

Primarily invested in foreign currency securities (shares) Prosperity Dollar Starter Fund, Inc. -a $1.1024

2.78%

1.52%

1.59% n.a

Sun Life

0.45%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.1776-1.12% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a

1.5115

17.18%

0.15%

8.54% n.a n.a

2.88% Sun Life Prosperity World Income Fund, Inc. -a,1

1.0094 n.a n.a n.a n.a

0.97%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7963-3.62%

-7% n.a n.a

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

1 - Launch date is August 22, 2023.

2 - Launch date is October 6, 2023.

-0.8%

c - Listed in the PSE.

3 - Launch date is May 25, 2023.

4 - Renaming was approved by the SEC last May 21, 2020 (formerly, ATRAM Dynamic Allocation Fund, Inc.) “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.”

PSE STOCK QUOTATIONS

February 12, 2024

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FILIPINO FUND MEDCO HLDG MANULIFE PHIL STOCK EXCH SUN LIFE

283,810 255,869,250 2,028 753,984,172 2,143,645 1,009,239 194,460,250 18,325 2,477,620 17,835 1,078,960 5,588,544 6,000,085 53,080 19,920 24,760 1,180 286,000 1,111,843 830,500

21,060 12,225,340 447,540,354 -349,535 -27,457,319.50 875 -60,102 -449,051.50 -3,387,185 286,000 431,343 91,000

INDUSTRIAL ACEN CORP 4.23 4.24 4.38 4.39 4.18 4.24 10,263,000 43,779,090 ALSONS CONS 0.51 0.52 0.52 0.52 0.51 0.52 39,000 20,270 ALTERNERGY HLDG 0.78 0.79 0.77 0.81 0.77 0.78 4,586,000 3,620,750 ABOITIZ POWER 37.65 37.8 37.6 37.95 37.5 37.8 182,500 6,901,530 RASLAG 1.18 1.19 1.18 1.19 1.18 1.19 74,000 87,520 BASIC ENERGY 0.213 0.218 0.22 0.226 0.213 0.218 5,840,000 1,279,730 FIRST GEN 18.02 18.04 18 18.1 17.96 18.02 222,900 4,022,532 64.6 64.9 64.95 64.95 64.5 64.9 6,910 446,340 FIRST PHIL HLDG JOLLIVILLE HLDG 5.01 5.95 5 5.95 5 5.95 200 1,095 MERALCO 360 362 368.4 369 359.2 360 336,910 121,881,856 18.4 18.48 18.68 18.68 18.36 18.4 619,200 11,428,708 MANILA WATER 3.26 3.28 3.29 3.29 3.24 3.28 527,000 1,716,760 PETRON 4.03 4.2 4.03 4.2 4.03 4.2 23,000 94,780 PHX PETROLEUM REPOWER ENERGY 7.11 7.28 7.11 7.3 7.11 7.28 10,200 74,298 SEMIRARA MINING 32.5 32.6 32.7 32.95 32.5 32.5 1,497,400 48,848,465 SYNERGY GRID 7.66 7.67 7.68 7.8 7.67 7.67 453,400 3,497,014 SHELL PILIPINAS 10.64 10.7 10.78 10.8 10.62 10.7 132,900 1,428,046 SPC POWER 8.31 8.38 8.15 8.4 8.15 8.38 328,400 2,727,278 SP NEW ENERGY 1.15 1.16 1.17 1.21 1.15 1.16 35,415,000 41,544,360 AGRINURTURE 0.56 0.58 0.55 0.58 0.54 0.58 3,575,000 2,011,620 AXELUM 2.25 2.3 2.28 2.28 2.25 2.25 32,000 72,030 20.4 21.1 21.4 22.4 20.05 21.1 376,800 8,071,590 CNTRL AZUCARERA 35.45 35.95 36 36.2 35.25 35.45 509,700 18,258,645 CENTURY FOOD 5.88 5.9 5.94 5.94 5.7 5.88 42,800 249,761 DEL MONTE DNL INDUS 6.65 6.66 6.7 6.7 6.6 6.66 1,182,100 7,890,004 20.55 20.6 20.75 20.75 20.45 20.55 660,600 13,547,425 EMPERADOR 50 50.2 50 50.2 49.25 50.2 10,750 533,784 SMC FOODANDBEV 0.7 0.71 0.71 0.72 0.69 0.7 12,640,000 8,897,250 FIGARO COFFEE FRUITAS HLDG 0.83 0.84 0.84 0.84 0.83 0.84 246,000 204,970 GINEBRA 163.1 164.4 164.7 164.8 164 164.4 1,940 318,743 JOLLIBEE 257.6 260 261.6 262 257.2 257.6 359,200 92,972,436 KEEPERS HLDG 1.42 1.43 1.42 1.43 1.42 1.43 373,000 531,500 LIBERTY FLOUR 13.82 14.68 14 14 14 14 100 1,400 MAXS GROUP 3.39 3.46 3.33 3.39 3.31 3.39 31,000 103,280 0.085 0.09 0.091 0.091 0.09 0.09 2,960,000 266,500 MG HLDG MONDE NISSIN 9.9 9.95 9.95 9.99 9.61 9.95 12,045,600 118,967,780 10.5 10.6 10.52 10.6 10.5 10.6 500,500 5,289,828 SHAKEYS PIZZA 0.58 0.61 0.57 0.65 0.56 0.59 16,815,000 10,192,860 ROXAS AND CO 2.93 2.95 2.95 2.95 2.93 2.95 19,000 55,990 RFM CORP SWIFT FOODS 0.062 0.066 0.065 0.067 0.065 0.066 310,000 20,570 UNIV ROBINA 110.3 110.8 111.1 112.3 110.3 110.3 1,264,540 139,955,204 VITARICH 0.495 0.5 0.495 0.5 0.495 0.5 407,000 201,665 VICTORIAS 2.61 2.87 2.61 2.61 2.6 2.6 50,000 130,450 CONCRETE A 40.1 46.95 40.05 40.05 40.05 40.05 2,600 104,130 CEMEX HLDG 1.73 1.74 1.81 1.99 1.66 1.73 54,499,000 100,305,900 EC VULCAN CORP 0.63 0.66 0.64 0.67 0.64 0.67 29,000 18,830 EEI CORP 5.55 5.59 5.52 5.65 5.52 5.59 73,300 408,882 MEGAWIDE 3.24 3.29 3.3 3.3 3.24 3.24 330,000 1,077,370 19.8 20.35 20.35 20.35 20.35 20.35 400 8,140 PHINMA TKC METALS 0.45 0.52 0.39 0.45 0.39 0.45 1,980,000 791,800 1.66 1.69 1.69 1.69 1.66 1.69 34,000 57,430 CROWN ASIA EUROMED 0.74 0.79 0.79 0.79 0.79 0.79 2,000 1,580 MABUHAY VINYL 5.5 5.78 5.78 5.78 5.78 5.78 200 1,156 PRYCE CORP 5.2 5.3 5.19 5.3 5.19 5.3 50,900 264,258 CONCEPCION 13 13.2 13.2 13.2 13.2 13.2 800 10,560 GREENERGY 0.225 0.226 0.225 0.227 0.219 0.225 12,260,000 2,723,360 INTEGRATED MICR 2.43 2.48 2.5 2.5 2.4 2.43 579,000 1,402,600 IONICS 1.17 1.18 1.2 1.2 1.17 1.18 1,146,000 1,357,500 PANASONIC 5.05 5.16 5.16 5.28 5.04 5.04 7,600 38,700 SFA SEMICON 2.44 2.49 2.45 2.49 2.45 2.49 358,000 889,920 CIRTEK HLDG 1.88 1.89 1.89 1.89 1.85 1.89 164,000 308,370

-6,774,380 -439,070 -1,892,695.00 -218,150 -889,830 -41,759,640 -661,208 -449,630 1,303,030 -293,142 -248,100 5,864,370 -736,460 119,790 3,438,055 -3,077,250 -12,565,470 -40,090 1,636,610 33,600 -37,815 11,494,892 -19,930 6,363,917 54,666 -78,220 -19,826,623 -435,920 71,330 782,800 17,920 -186,050 -2,600 -

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LOPEZ HLDG LT GROUP PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER ZEUS HLDG

6,132,950 83,354,150 -13,316,890 -6,327,956 2,262,911.00 16,885,604 48,631,035 -13,803,950.00 -25,290 -118,159,575 -1,739,823 -10,565.50 -

HOLDING & FRIMS

February 12, 2024

www.businessmirror.com.ph

35 150.8 6.7 114.6 33.15 8.79 59.1 8.7 18.86 54 22.7 72.3 44.65 1.03 2.45 5.6 0.089 1,051 188 2,552

1.08 708 46 11.66 11.88 0.4 0.355 5.05 11.04 5.5 695 38.65 5.01 4.35 9.6 2.49 900 108.1 96.1 0.078

35.5 151.8 6.79 115 33.2 8.8 59.55 8.75 18.88 55 23.3 72.8 45 1.04 2.54 7.5 0.128 1,200 189.9 2,600

1.09 715 46.95 11.68 11.96 0.43 0.36 5.08 11.1 5.6 695.5 39 5.5 4.39 9.65 2.5 905 109 99.45 0.083

35 149.6 6.7 114.3 33.5 8.8 59.25 8.75 18.6 53.5 23.3 73.2 45.15 1.08 2.54 7.6 0.118 1,100 183.1 2,600

1.04 707 47.25 11.6 11.98 0.4 0.355 5.04 11 5.5 680 39.05 5 4.34 9.59 2.49 920 109.9 96.05 0.083

35.5 152.3 6.79 116.4 33.5 8.81 60 8.75 18.88 55 23.3 73.95 45.2 1.08 2.54 7.6 0.118 1,100 189.9 2,600

1.08 715 47.6 11.76 11.98 0.4 0.355 5.08 11.22 5.5 696 39.6 5 4.39 9.71 2.5 925.5 109.9 96.1 0.083

35 149.3 6.7 114 33.05 8.78 59 8.7 18.6 53.5 23 72.3 44.55 1.04 2.45 7.5 0.118 1,100 183.1 2,550

1.02 705 46 11.6 11.8 0.4 0.355 5.04 10.92 5.5 680 38.6 5 4.34 9.59 2.41 898.5 108.1 96 0.083

35.5 150.8 6.79 114.6 33.15 8.79 59.1 8.7 18.86 55 23.3 72.3 45 1.04 2.45 7.5 0.118 1,100 188 2,550

1.08 715 46 11.68 11.96 0.4 0.355 5.08 11.1 5.5 695 38.65 5 4.39 9.6 2.5 900 108.1 96.1 0.083

8,100 1,692,540 300 6,562,940 64,500 114,700 3,278,850 2,100 131,800 330 46,600 76,780 133,200 51,000 8,000 3,300 10,000 260 5,910 325

31,558,000 402,860 1,025,500 1,185,300 32,900 110,000 500,000 849,600 5,786,500 199,600 158,770 1,030,800 100 86,000 765,400 68,000 358,940 60,250 2,850 20,000

33,446,480 286,605,455 47,576,455 13,876,156 392,716 44,000 177,500 4,303,860 64,178,552 1,097,800 110,194,485 40,198,100 500 377,290 7,367,776 168,960 324,183,495 6,555,400 273,677 1,660

PROPERTY

ARTHALAND CORP 0.415 0.45 0.45 0.45 0.415 0.415 30,000 13,150 ANCHOR LAND 5.02 6 6 6 6 6 500 3,000 AYALA LAND 34.55 34.65 35 35.2 34.5 34.55 4,171,400 144,708,970 AYALA LAND LOG 1.94 1.95 1.8 1.97 1.8 1.95 4,153,000 7,870,550 ARANETA PROP 1.02 1.03 1.02 1.07 1.02 1.03 1,081,000 1,124,040 AREIT RT 33.95 34 34.2 34.45 33.9 34 472,400 16,106,745 A BROWN 0.65 0.66 0.65 0.66 0.65 0.66 110,000 71,640 0.7 0.72 0.72 0.72 0.7 0.72 22,000 15,460 CITYLAND DEVT CROWN EQUITIES 0.061 0.063 0.063 0.063 0.063 0.063 1,940,000 122,220 CEB LANDMASTERS 2.62 2.65 2.64 2.65 2.62 2.62 548,000 1,442,950 0.27 0.275 0.27 0.28 0.26 0.275 3,280,000 862,200 CENTURY PROP 2.69 2.7 2.69 2.71 2.69 2.7 755,000 2,036,800 CITICORE RT 8.28 8.32 8.05 8.38 8.05 8.32 707,400 5,822,489 DOUBLEDRAGON 1.21 1.22 1.23 1.23 1.21 1.22 1,494,000 1,814,930 DDMP RT DM WENCESLAO 5.7 5.96 5.6 5.7 5.6 5.7 36,000 203,190 EMPIRE EAST 0.127 0.128 0.128 0.128 0.127 0.127 1,310,000 167,460 EVER GOTESCO 0.275 0.285 0.285 0.285 0.28 0.285 370,000 103,950 FILINVEST RT 3.14 3.15 3.16 3.16 3.14 3.15 405,000 1,277,380 FILINVEST LAND 0.67 0.68 0.67 0.69 0.67 0.68 8,784,000 5,970,300 8990 HLDG 8.63 8.89 8.73 9.08 8.73 8.99 164,200 1,468,635 GOLDEN MV 948 950 870 950 870 950 37,500 33,966,435 0.5 0.54 0.55 0.55 0.5 0.5 30,000 15,410 PHIL INFRADEV 0.82 0.83 0.8 0.83 0.79 0.82 233,000 187,710 CITY AND LAND 1.99 2 2 2.01 1.99 1.99 3,400,000 6,778,970 MEGAWORLD 1.25 1.28 1.3 1.3 1.25 1.28 518,000 655,570 MRC ALLIED MREIT RT 13.86 13.98 14 14.04 13.86 13.86 778,000 10,848,940 0.355 0.39 0.35 0.39 0.35 0.39 670,000 247,050 PHIL ESTATES PREMIERE RT 1.58 1.6 1.6 1.62 1.59 1.6 149,000 237,960 RL COMM RT 5.51 5.52 5.5 5.55 5.5 5.51 419,800 2,315,713 ROBINSONS LAND 16.02 16.1 16.16 16.18 15.96 16.02 810,500 13,004,696 PHIL REALTY 0.146 0.167 0.147 0.147 0.147 0.147 80,000 11,760 ROCKWELL 1.38 1.43 1.38 1.44 1.38 1.43 48,000 68,250 SHANG PROP 3.74 3.76 3.79 3.8 3.72 3.74 179,000 669,610 STA LUCIA LAND 3.13 3.45 3.5 3.5 3.5 3.5 120,000 420,000 34 34.2 34.6 35 34 34 5,587,800 191,236,070 SM PRIME HLDG 1.69 1.7 1.7 1.7 1.68 1.7 769,000 1,304,840 VISTA LAND 1.73 1.74 1.73 1.74 1.71 1.74 99,000 171,690 VISTAREIT RT

SERVICES ABS CBN 4.3 4.38 4.31 4.41 4.22 4.41 564,000 2,442,280 GMA NETWORK 8.94 8.95 8.95 8.98 8.93 8.95 376,700 3,372,149 MANILA BULLETIN 0.201 0.221 0.225 0.225 0.221 0.221 40,000 8,920 GLOBE TELECOM 1,730 1,736 1,740 1,746 1,730 1,730 14,240 24,698,755 PLDT 1,287 1,289 1,295 1,303 1,286 1,289 32,980 42,650,555 APOLLO GLOBAL 0.013 0.014 0.013 0.014 0.013 0.013 52,600,000 687,700 CONVERGE 9.7 9.71 9.78 9.84 9.62 9.7 6,839,800 66,442,319 2.93 3 3 3 2.93 2.93 622,000 1,847,870 DFNN INC DITO CME HLDG 2.46 2.47 2.45 2.5 2.42 2.47 1,973,000 4,862,750 1.12 1.14 1.1 1.13 1.1 1.13 779,000 874,840 NOW CORP TRANSPACIFIC BR 0.122 0.127 0.125 0.127 0.121 0.122 1,180,000 145,320 16.8 16.98 16.98 16.98 16.8 16.9 2,700 45,560 ASIAN TERMINALS CHELSEA 1.5 1.53 1.53 1.53 1.48 1.53 157,000 237,400 33.6 33.7 33.9 34 33.7 33.7 38,500 1,301,370 CEBU AIR INTL CONTAINER 273.6 274 273 278.6 271 274 1,234,060 339,201,352 LBC EXPRESS 15.58 17.76 17.94 17.94 17.78 17.78 1,500 26,784 MACROASIA 3.97 3.98 4.03 4.03 3.97 3.98 174,000 695,090 METROALLIANCE B 0.5 0.74 0.5 0.5 0.5 0.5 20,000 10,000 PAL HLDG 5.31 5.51 5.48 5.51 5.3 5.3 1,700 9,277 HARBOR STAR 0.75 0.78 0.76 0.76 0.75 0.75 85,000 63,870 BOULEVARD HLDG 0.063 0.064 0.062 0.064 0.062 0.063 2,170,000 136,850 0.39 0.4 0.385 0.39 0.385 0.39 50,000 19,400 WATERFRONT CENTRO ESCOLAR 8.4 8.81 8.81 8.81 8.81 8.81 300 2,643 FAR EASTERN U 551.5 565 568 568 551.5 551.5 160 88,405 STI HLDG 0.6 0.62 0.61 0.62 0.6 0.62 3,905,000 2,398,160 1.18 1.19 1.19 1.19 1.18 1.18 387,000 459,960 BELLE CORP BLOOMBERRY 11.7 11.76 11.54 11.84 11.54 11.7 4,884,700 57,242,554 4.14 4.18 4.21 4.21 4.12 4.18 154,000 641,460 PACIFIC ONLINE PH RESORTS GRP 0.84 0.85 0.83 0.85 0.83 0.85 364,000 305,880 PREMIUM LEISURE 0.71 0.72 0.71 0.72 0.7 0.72 2,636,000 1,880,440 DIGIPLUS 7.43 7.51 7.9 7.93 7.33 7.5 8,519,500 63,969,416 PHILWEB 1.75 1.77 1.79 1.79 1.74 1.74 127,000 225,160 ALLDAY 0.158 0.159 0.16 0.161 0.158 0.159 5,720,000 914,160 ALLHOME 1.13 1.15 1.11 1.16 1.11 1.15 3,060,000 3,502,850 1.29 1.3 1.29 1.3 1.29 1.3 25,000 32,300 METRO RETAIL 27.45 27.5 28 28 27.4 27.5 775,900 21,340,585 PUREGOLD 36.05 36.1 36.15 36.5 36.1 36.1 204,700 7,408,615 ROBINSONS RTL 77 77.6 78 78 77 77 80,270 6,215,975 PHIL SEVEN CORP 2.91 2.98 3 3 2.9 2.98 1,136,000 3,376,240 SSI GROUP 1.34 1.35 1.31 1.36 1.31 1.35 26,000 34,680 UPSON INTL CORP 22.6 22.9 23.05 23.05 22.5 22.9 172,900 3,958,330 WILCON DEPOT APC GROUP 0.255 0.27 0.219 0.29 0.219 0.255 5,180,000 1,304,270 EASYCALL 2.12 2.29 2.11 2.11 2.11 2.11 3,000 6,330 MEDILINES 0.31 0.315 0.315 0.315 0.315 0.315 180,000 56,700 PRMIERE HORIZON 0.165 0.166 0.165 0.169 0.165 0.166 450,000 75,290 SBS PHIL CORP 4.22 4.59 4.5 4.6 4.5 4.6 8,000 36,300

MINING & OIL ATOK 4.65 4.8 4.65 4.65 4.65 4.65 99,000 460,350 APEX MINING 2.67 2.68 2.65 2.71 2.63 2.67 7,203,000 19,199,330 ATLAS MINING 3.35 3.5 3.35 3.5 3.35 3.35 58,000 201,610 BENGUET A 4.45 4.54 4.47 4.55 4.4 4.54 74,000 329,600 BENGUET B 4.39 4.46 4.48 4.48 4.48 4.48 2,000 8,960 COAL ASIA HLDG 0.13 0.149 0.134 0.149 0.134 0.149 60,000 8,190 1.94 1.95 1.97 1.97 1.94 1.95 518,000 1,010,870 FERRONICKEL 0.043 0.045 0.04 0.047 0.04 0.047 3,400,000 158,400 GEOGRACE LEPANTO A 0.07 0.073 0.073 0.073 0.069 0.07 3,130,000 218,810 MANILA MINING A 0.0039 0.0041 0.0041 0.0041 0.0039 0.0039 65,000,000 261,000 MANILA MINING B 0.004 0.0041 0.0041 0.0041 0.0041 0.0041 1,000,000 4,100 MARCVENTURES 0.82 0.83 0.82 0.83 0.81 0.83 247,000 200,500 NICKEL ASIA 4.63 4.65 4.68 4.7 4.63 4.65 1,957,000 9,098,850 ORNTL PENINSULA 0.64 0.65 0.67 0.67 0.65 0.65 77,000 50,410 PX MINING 3.09 3.1 3.09 3.1 3.09 3.09 312,000 965,300 ENEX ENERGY 4.71 5.11 5.15 5.15 5.15 5.15 1,000 5,150 ORNTL PETROL A 0.0079 0.008 0.0079 0.0079 0.0079 0.0079 1,000,000 7,900 PHILODRILL 0.0078 0.0081 0.0079 0.008 0.0079 0.008 27,000,000 215,300 PXP ENERGY 3.71 3.75 3.75 3.75 3.7 3.75 67,000 250,810

PREFFERED ACEN PREF A 1,054 1,098 1,056 1,056 1,054 1,054 300 316,560 ACEN PREF B 1,073 1,080 1,080 1,080 1,080 1,080 170 183,600 AC PREF AR 2,506 2,510 2,504 2,510 2,504 2,510 115 288,210 ALCO PREF D 460 479.6 479.6 479.6 479.6 479.6 30 14,388 BRN PREF A 97 98 98 98 97 97 250 24,400 CEB PREF 33.4 34.95 33.4 34.95 33.4 34.95 600 20,660 DD PREF 95 95.5 95 95.5 94.95 95.5 19,760 1,877,810 95.65 97 97.5 97.5 95.65 97 430 41,838 EEI PREF B GTCAP PREF B 955 978 955 955 955 955 50 47,750 JFC PREF A 960.5 999.5 960.5 960.5 960.5 960.5 40 38,420 JFC PREF B 925 938 940 940 940 940 380 357,200 MWIDE PREF 2B 91 96.95 90.05 90.05 90.05 90.05 200 18,010 MWIDE PREF 4 93 93.5 93 93.5 93 93.5 510 47,435 MWIDE PREF 5 100.3 101.5 101 101 100.2 100.2 500 50,140 PNX PREF 4 203.2 236.4 235 236.4 235 235 170 40,020 PCOR PREF 3A 981 995 990 990 980.5 980.5 2,250 2,216,955 PCOR PREF 4C 976 1,010 990 990 975 980 2,630 2,564,530 SMC PREF 2F 72.6 72.9 72.9 72.9 72.9 72.9 1,490 108,621 SMC PREF 2K 70.55 74 71 71 71 71 11,250 798,750 SMC PREF 2L 77.9 78.45 77.95 77.95 77.9 77.95 15,410 1,201,089 SMC PREF 2N 77 78.5 78.5 78.5 78.5 78.5 410 32,185 79.4 79.5 79.5 79.7 79.4 79.4 2,050 163,093.50 SMC PREF 2O 45 49.9 49 49 49 49 300 14,700 TECH PREF B2C

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 4.01 4.1 4.01 4.1 4.01 4.1 7,000 28,430 GMA HLDG PDR 8.6 8.75 8.7 8.7 8.55 8.55 8,300 70,995

WARRANTS

TECH WARRANT

0.197

0.21

0.199

0.2

0.197

0.2

260,000

51,360

-3,000 -16,707,085 -98,270 805,445 277,720 -304,400 -472,530 13,395 672,130 -21,970 -96,320 -83,808 -356,000 -10,000 4,800 2,046,070 968,654 1,600 15,646.00 -1,828,362 -75,757,615 -681,700 663,555 -1,980,580 -10,400 5,672,173 -162,030 12,500 -11,110 186,390 127,282,808 -10,668 7,960 10,000 -276,700 15,747,110 595,690 14,840,061 15,900 -253,580.00 6,500 3,924,410 3,155,070 760,060 2,243,050 26,580 833,280 -230,000 31,500 1,650 -260,850 -737,070 -158,490.00 13,200 5,400 -1,579,580 137,632.50 8,550 -

SMALL, MEDIUM & EMERGING

0.41 0.43 0.41 0.425 960,000 404,100 -4,300 0.75 0.75 0.74 0.75 144,000 107,650 1 1 0.98 1 834,000 833,980 10,000 0.7 0.71 0.69 0.69 139,000 96,660 0.065 0.065 0.065 0.065 10,000 650 1 1.02 1 1.01 537,000 538,300 -10,200 0.247 0.26 0.245 0.245 260,000 65,480 -

EXHANGE TRADE FUNDS

108.5 108.5 107.6 107.6 48,150 5,217,379 3,358,687

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.41 0.74 1 0.67 0.06 1 0.248 107.4

0.425 0.75 1.01 0.69 0.065 1.01 0.26 107.6

www.news.businessmirror@gmail.com

Banking&Finance

NG raises ₧17B as T-bill yields corrected higher

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HE national government successfully raised P17 billion, P2 billion higher than what is programmed, through the sale of Treasury bills (T-bills) as average yields corrected higher for the eighth straight auction.

The Bureau of the Treasury (BTr) on Monday, made a full award and even surpassed its P15 billion programmed auction of three-tenor T-bills.

According to the Treasury, the auction was 3.3 times oversubscribed, attracting P42.3 billion in total tenders. This prompted the Auction Committee to “double the accepted non-competitive bids for the 364-day security,” the Treasury said in a statement on Monday after the auction.

“With its decision, the Committee raised P17.0 billion through the auction from the initial program of P15.0 billion,” the Treasury said.

The Treasury raised the full amount of P5 billion each from the 91-day and 182-day T-bills on top of the P7-billion upsized award for the 364-day debt papers.

Auction results showed that the 364-day T-bills received the most bids with a total offer of P22.782 billion followed by the 182-day T-bills at P15.790 billion total bids. The 91-day T-bills fetched a total offer of P10.720 billion from investors.

The average rate for the 91-day T-bills settled at 5.506 percent with a range of 5.475 percent to 5.550 percent.

The 182-day T-bills saw its yield averaging at 5.879 percent.

The government security rates were between 5.858 percent and 5.895 percent.

Investors’ average rate for the 364-day T-bills, meanwhile, was at 6.064 percent with a yield range of 6.048 percent to

6.075 percent.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the Tbills average auction yields were “unusually higher” but continued to go up as they are still lower compared to the interest rate of Bangko Sentral ng Pilipinas (BSP).

Ricafort explained that this is “similar to the slight week-onweek rise in the comparable PHP BVAL yields, ahead of the 5-year Retail Treasury Bond (RTB) offering that could siphon off some of the excess peso liquidity from the financial system, especially before the PHP700 billion total RTB maturities in early March 2024.”

The RCBC executive added Tbill yields continued to be “slightly higher” after higher global crude oil prices recently to twomonth highs and higher Treasury yields recently.

This, Ricafort said, after a cautious stance by most US Federal Reserve officials before cutting Fed rates to ensure inflation goes towards the 2 percent Fed target.

“Ahead of the latest BSP ratesetting meeting on Thursday, February 15, 2024, that could match the Fed rate pause on January 31, 2024,” Ricafort added.

The Treasury targets to raise as much as P210 billion from the domestic market in February from the combined tender of Tbills amounting to P60 billion and P150 billion through Treasury bonds (T-bonds).

The Treasury will tender a total of P51.050 billion worth of Tbills and P1.802 trillion worth of T-bonds for the entire 2024.

The Marcos Jr. administration would borrow P1.853 trillion from the domestic market through the sale of T-bills and Tbonds. Reine Juvierre Alberto

BusinessMirror

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By Reine Juvierre Alberto

HE removal of the exemption on pickup trucks from excise tax will help the national government generate about P33 billion in revenues, according to the Department of Finance (DOF).

The move to impose excise tax on pickup trucks is among the proposals under Package 4 of the Comprehensive Tax Reform or the proposed Passive Income Financial Intermediary Taxation Act (Pifita).

The Pifita bill seeks to “harmonize” the taxation of passive income and financial intermediaries by reducing and “simplifying” the complicated tax rates on financial transactions. It also seeks to amend the provision in the Tax Reform for Acceleration and Inclusion law exempting pickup trucks from excise tax.

The automobiles exempted from excise tax are purely electric vehicles and pickup trucks, while hybrid electric vehicles are subject to 50 percent of imposable rate.

In a presentation during a public hearing of the House Committee on Ways and Means last Monday, Finance Assistant Secretary Karlo Fermin S. Adriano said that pickup trucks, mostly double cabs, are now being used for “leisure, mountain trail, daily use, passenger hauler.”

This, Adriano added, indicates a “clear deviation” from its purpose as utility workhorses in agriculture and small businesses, which is the basis for special tax treatment under the Train law or Republic Act 10963.

A

H, February. The air hums with romance, restaurants brim with couples and wallets groan under the pressure of Valentine’s Day expectations. While grand gestures and extravagant gifts might hold a certain allure, true love doesn’t have a price tag. In fact, sometimes the most meaningful moments bloom from creativity, thoughtfulness and a sprinkle of financial savvy. So, this Valentine’s Day, let’s embrace “budgetlicious” alternatives and celebrate your love without straining your bank account.

BEFORE Cupid’s arrow pierces your bank account, a vital step is setting a budget.

This isn’t about stifling romance, but about shared responsibility and avoiding the postValentine’s Day debt blues. Sit down with your significant other, not as separate wallets, but as a united financial front. Have an open and honest conversation about how much you’re both comfortable spending.

Remember, this isn’t a competition, but a collaboration to ensure your love thrives within realistic boundaries. Be transparent about your finances, consider each other’s preferences and prioritize experiences that create lasting memories over fleeting material possessions.

Creative alternatives to overused gestures

LET’S shed the skin of predictable chocolates and overpriced bouquets. While they hold a certain nostalgia, their charm often fades as quickly as their shelf life. Instead, think outside the floral box and unleash your inner romantic alchemist. Surprise your sweetie with a breakfast in bed, serenade them with a self-composed song (even if it’s slightly offkey), or hand-write a heartfelt poem detailing your love’s unique alchemy. Craft a DIY spa experience with fragrant oils and homemade pampering treatments. Remember, it’s the thought that counts and a personalized gesture crafted with love can be more precious than any store-bought trinket.

Adventures on a budget

LOVE thrives on shared experiences and

B3

Excise tax on pickup trucks may raise ₧33B in revenues Negative impact

THE DOF official said that singlecab and double-cab pickup trucks “should not be treated similarly.”

Single-cab pickup trucks are the “real workhorse vehicles” for cargo or people transport while double-cab pickup trucks are “regarded and marketed as a lifestyle passenger vehicle,” Adriano said in his presentation.

Although there are industrial users of double-cab pickup trucks as service vehicles, such as in media, telco, power, and water companies, Adriano pointed out that these are “big businesses” and are “already paying excise tax on pickup trucks before.”

By removing the exemption of pickup trucks from excise tax, the government will stand to gain about P33 billion in additional revenues, which will cover the negative impact of Pifita in revenues, he told the committee.

“In terms of policy, I think what we need to do is to target, if we really want to provide assistance for the MSMEs [medium-sized, smallscale and micro-sized enterprises], especially to the agriculture sector, the policy should be targeted in a way the beneficiaries are really the small ones,” Adriano said.

Valentine’s Day date ideas that won’t break the bank

Planting seeds of financial harmony

Editor: Dennis D. Estopace • Tuesday, February 13, 2024

luckily, most cities are treasure troves waiting to be discovered on a shoestring budget.

Embrace the urban jungle with a bike ride through hidden pathways, a scavenger hunt through vintage shops for quirky finds, or a sunset picnic in a secluded park. Explore the colorful chaos of a street market, get swept up in the joyful roar of a festival, or get creative with a DIY art project in your living room. Sometimes, the most romantic adventures are unplanned. Grab your honey’s hand, wander down unfamiliar streets and let the city be your guide.

Unwinding without emptying your wallet

FOR those seeking a cozy night in, transform your home into a haven of romance.

Ditch the TV, light some candles (the calming kind, not the overpriced gourmet ones) and whip up a delicious meal together. Put on your favorite playlist, slow dance in the kitchen and reminisce about your shared stories under the twinkling lights. A warm bath with soothing music followed by a movie marathon of old favorites can be just as special (and budget-friendly) as a fancy restaurant dinner. Remember, the magic lies in the connection, not the cost and sometimes the most memorable nights bloom within the four walls of your love nest.

Investing in memories, not debt

VALENTINE’S Day is about celebrating the things you love about each other. So, delve into your shared passions! If you’re both bookworms, visit a local bookstore and get

lost browsing literary treasures. If music fuels your souls, attend a free concert in the park, strum guitars under the moonlight, or have a karaoke night fueled by laughter and off-key melodies. For art enthusiasts, museums often have free days or discounted entry, while nature lovers can find serenity in a hike through a nearby park or a stroll along the beach.

Sharing your time and talents

THE most precious gift you can give your significant other is your time and talent. Offer them a massage after a long day, teach them a new skill you’ve mastered, or help them pursue a personal project. Volunteer together at a local animal shelter, participate in a community clean-up drive, or simply lend a helping hand to those in need. Sharing your time and compassion strengthens your bond and creates beautiful memories that money can’t buy. These acts of service not only enrich your community but also deepen your connection, reminding you that love extends beyond just the two of you. After all, true love shines brightest when reflected outward, leaving a trail of kindness and compassion in its wake.

This Valentine’s Day, let’s move beyond societal expectations and celebrate love in its purest form. Forget the pressure to conform, the urge to compete and the fear of falling short. Remember, love isn’t a competition of who spends the most. It thrives on genuine connection, shared experiences and the little gestures that whisper “I care.”

So, this Valentine’s Day, embrace the beauty of simple pleasures, let your creativity bloom and celebrate your love with thoughtful moments that will blossom long after February 14th. Your hearts will thank you and your wallets will breathe a sigh of relief.

Janice Sabitsana is a registered financial planner of RFP Philippines. To learn more about financial planning, attend the 106th RFP program this March 2024. Please e-mail info@rfp.ph or visit https://www.rfp.ph for details.

“By removing the exemption of pickup trucks, we are hoping that there will be more demand on our locally-produced cars, particularly the sedans,” he added.

Losses, gains

IN his earlier discussion at the Senate, Adriano said that based on DOF’s calculations, the state would lose a total of P125.9 billion in revenues from the third quarter of this year until 2029 due to the Pifita. The amount translates to an annual average revenue loss of about P21 billion, which stems from the lowering of various tax rates across the capital markets and the financial sector of the country, Adriano added.

(See: https://businessmirror.com. ph/2024/01/23/dof-pifita-spellsp126b-in-government-revenueloss/).

However, imposing excise taxes may actually push sales of pickup trucks as buyers would try to hedge against the move, the DOF official has said.

Based on DOF’s calculations, a Ford Ranger Raptor will cost more than P2.5 million from its old suggested retail price (SRP) of about P2.3 million after the re-imposition of excise tax.

A Toyota Hilux will cost about P2.4 million from its P2.2 million suggested old SRP while an Isuzu Dmax will cost P2 million from its old SRP of P1.9 million once taxes are applied.

The DOF added the market will momentary decline and recover within a year a two as expected while industry recovery could be fast as evidenced by the average -24 percent industry growth from 2021 to 2023.

“Any tax increase is expected to decrease vehicle sales only in the

short term as market eventually adjusts,” it noted.

According to the Department of Trade and Industry, the Toyota Vios and Innova, Mitsubishi Mirage, and L-300 pickup trucks are currently manufactured in the Philippines.

Not realized

MEANWHILE, Senator Sherwin T. Gatchalian said the government will lose revenue from the harmonization of the country’s tax structure, which is the spirit behind the Pifita.

A 2019 article in the National Tax Research Center journal explained that Pifita aims to make “the taxation of passive income, financial intermediaries and financial transactions simpler, fairer and more efficient.”

Gatchalian, the vice chairman of the Senate Committe on Finance, added that to cover the negative revenue intake, the government’s projected revenue that can be retrieved from the exemption is P33 billion.

“We just want to demonstrate [to the] public, especially those who are avid fans of pickup trucks, that the removal of the exemption is because the intention[s] of channeling it to businesses are not being realized,” said Gatchalian who openly supports the Pifita.

The P33 billion is much less than what former DOF Secretary Benjamin E. Diokno told House Ways and Means Chair Albay Rep. Joey Sarte Salceda two years ago.

According to Salceda, Diokno said through a letter that “subjecting pickup trucks to excise tax will result in additional revenue of P52.6 billion from 2022 to 2026.”

(See https://businessmirror.com. ph/2022/08/29/explain-tax-exemption-on-pickup-trucks/)

Financial literacy seen aegis vs scammers

By Samuel P. Medenilla

@sam_medenilla

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O combat the rising incidents of online scams, Bicol Saro Partylist Rep. Brian Raymund S. Yamsuan has filed House Bill (HB) 9888, which seeks to institutionalize government financial literacy programs for workers.

Under the proposed legislation, the Department of Labor and Employment (DOLE), Department of Trade and Industry (DTI) and Bangko Sentral ng Pilipinas (BSP) will launch a campaign that will make financial literacy materials available in communication platforms.

The materials should be translated in Filipino and Bicolano and other relevant regional languages and dialects.

Through the initiative, Yamsuan said he hopes the number of online scam victims will be reduced.

“Combatting digital fraud cannot be done through law enforcement alone because these types of crimes always evolve into even more sophisticated means of deceiving the public.

Prevention is an equally important measure to protect the public from scams, which the government can do by strengthening its financial literacy programs,” the lawmaker said.

Citing a report from the Philippine National Police-Anti-Cybercrime Group (PNP-ACG), he said authorities recorded P155 million worth of losses from 8,000 complaints filed by online scam victims from January to August last year.

Yamsuan attributed the high incidents to the lack of proper financial education of most Filipinos, citing a survey by the BSP in 2021.

In the survey, 11 percent of the adult respondents lost money due to lottery or prize scams, investment scams and phishing tactics; only 2 percent correctly answered all questions on basic financial literacy.

“Thus, enhancing financial literacy is necessary in empowering workers, not only by educating them to recognize and safeguard themselves from fraudulent schemes, but also to ensure that they have a good understanding of the fundamental concepts of finances,” Yamsuan said.

Rural bank to launch card product

By Cai U. Ordinario

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@caiordinario

HE Rural Bank of Cavite City Inc. (RBCCI), operator of local mobile banking application OwnBank, announced it has partnered with Mastercard to provide card offers and secure digital transactions to its customers.

In a statement on Monday, OwnBank-RBCCI said through its partnership with Mastercard, it will be able to launch a virtual and physical debit card to its customers.

According to OwnBank-RBCCI, its existing services will be integrated with Mastercard’s digital solutions, offering customers financial services for managing transactions, transferring funds, and growing savings.

“This strategic partnership aims to foster financial inclusion and is poised to introduce new and sophisticated solutions that empower individuals and businesses across the country,” the rural lender said.

OwnBank-RBCCI said that through the partnership, all its users will receive a virtual debit card. For users who have fully upgraded their OwnBank accounts and have met certain criteria

will also be able to receive a physical debt card.

This card will allow customers to experience contactless payment and enhanced security using advanced EMV technology. OwnBank credit cards also has security features and provides unified card and account numbers.

“OwnBank through Mastercard will provide its users access to numerous international merchants and ATMs, thereby increasing transactional flexibility and convenience,” the mobile bank also stated.

The OwnBank Virtual Debit Card is set to launch in the first quarter of 2024, followed by the Physical Debit Card in the second quarter of 2024.

OwnBank said despite cash being the primary payment method for Filipinos, authorities are urging an increased adoption of banking and debit cards, especially among the unbanked, to enhance financial inclusion.

The country has witnessed a surge in digitalonly banks and a preference for electronic payments, driving growth in card payments.

Based on a GlobalData study, the country’s cards and payments market was valued at over $45 billion last year, with an expected CAGR surpassing 7 percent from 2023 to 2027.

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Tuesday, February 13, 2024 • Editor: Gerard S. Ramos

Art

BusinessMirror

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‘88: Regal Reflections’ celebrates prosperity in the Year of the Dragon 

 The Lucky



Money Man, Charlie Co, 2024, acrylic on canvas, 36” x 36”

 Majestic

Heights 2, Meneline Wong, 2024, mixed media, 24” x 24”

TODAY’S HOROSCOPE

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Mena Suvari, 45; Kelly Hu, 56; Peter Gabriel, 74; Stockard Channing, 80.

HAPPY BIRTHDAY: Take the necessary steps to keep things running smoothly this year. You’ll accomplish the most if you stick to basics, utilize everything you can and discard what you no longer need. Simplifying your life will give you the freedom to pursue what matters to you most.

Don’t fall short of your expectations. Change begins with you; the sooner you start, the better. Your numbers are 8, 14, 25, 27, 38, 44, 46.

a

ARIES (March 21-April 19): Review numbers and restructure your plans to fit your budget. A passionate approach to life and your pursuits is helpful, but only if you use common sense. Accept help, but agree on the cost first to avoid problems when it’s time to settle. HHH

b

TAURUS (April 20-May 20): Take a moment to recap what’s happening and to fine-tune your approach to guarantee success. A physical change that promotes better health and makes you feel good about yourself and more appealing to those you encounter will boost confidence and happiness.

Romance is in the stars. HHH

c

GEMINI (May 21-June 20): Live in the moment, be open to information and be ready to implement change. Refuse to let anyone lead you astray or restrict you from pursuing your dreams. Believe in your ability to reach for the stars, and use your versatility to grasp your goal. HHHH

d

I

N Chinese astrology, the Year of the Wooden Dragon promises abundance.

Experts say that the strong dragon, the lone mythical creature among the 12 Chinese zodiac signs, paired with the nurturing characteristics of wood results in an auspicious combination.

To honor the Wood Dragon this 2024, the Galerie Francesca Group gathered members of the Filipino-Chinese artist group “8” for a special group exhibition. Titled, 88: Regal Reflections, the show presents a wide

Interactive 3D street art unveiled

array of artistic styles, from traditional to contemporary to abstract, all focusing on subjects of hope and prosperity.

The exhibition makes no room for violence, death or any other related ideas. Here, everything blooms from pure positivity and eternal beauty, designed to court great fortune for the new year. The featured artworks inspire hope, as the subjects gaze in the distance, smiling, while the abstract pieces shine in joyous vibrancy.

Addie Cukingnan, for instance, calls to mind vitality with her signature depiction of radiant flowers. One blossoms in the foreground of Porcelain Stability I, and behind it sits a vase designed with a dancing dragon. Another dragon, this time more detailed and fleshed out, makes an appearance in Charlie Co’s The Lucky Money Man. It crawls on the shoulder of the man who devotes himself to attracting luck, guarded by foo dogs and wearing a suit with trickling money symbols that he catches on a martini glass.

Colors burst elsewhere in the providential showcase. Jo Uygonco stuns with an impression of a stupendous landscape in Mystic Mountains, as Meneline Wong continues the pursuit of her flow art’s evolution as three-dimensional mixed media pieces in Majestic Heights.

Also featured in 88: Regal Reflections are the works of Dexter Sy, Ed Uygongco, Iris BabaoUy, Julia Lopue, Margarita Lim, and Pablo Ong Jr. Part of the fold as well are Rica Rosario Ong, Ronnie Lim, Rudy Yu, Seb Chua, Sherwin Tan, and Stella Tansengco-Schapero.

Regal Reflections is simultaneously mounted on two venues. The show opened on February 1 at Art Lounge Manila in Molito, Alabang, and will run there until today, February 13.

Meanwhile, the show is on view at Galerie Francesca in SM Megamall Duration from February 5 to 18.

More information is available at galeriefrancesca.com, as well as facebook. com/GalerieFrancesca.PH and instagram.com/ galerie_francesca.

AS February ushers in Arts Month, South Park District, a 6.6-hectare master planned community of residential and commercial developments, transforms its vibrant community into an interactive canvas with 3D paintings unveiled on February 3.

Complementing the district’s existing art installations, these 3D paintings make the landscape a destination for creative exploration where art seamlessly blends with nature and home.

Among the talented artists who helped design and produce these latest paintings were John Mark Saycon, Neil Defeo and Melanio Bulauitan III—members of Guhit Sudlungan, the winning team of visual artists who participated at the first 3D street painting competition mounted by Avida in 2011. For this year’s venture, the team collaborated with fellow artists Brian Defeo, Emil Aldrine Alarcon, Didier Marc Alarcon, Jefferson Malong and Jervin Ferrer.

Tess Tatco, Avida Land’s marketing head,

shares the company’s excitement over the newest attractions in the place. “We’re proud to showcase once more the creative talents of local artists,” she says. “Come and visit South Park District to discover the joy and inspiration that visual art can bring.”

Tatco stresses that the best way to enjoy 3D paintings is by seeing these up close. “This is why we invite everyone to get up close to these stunning works of art at South Park District in National Road, Alabang. Unleash your inner artist and capture great photos with your loved ones and friends.”

Property seekers who want to live a balanced life amid the relaxing vibe of the South may visit the Avida Towers Ardane Showroom.

Avida Land Corp. (https://www.avidaland.com/) is the upper mid-income residential brand of Ayala Land, the Philippines’ leading developer of sustainable estates offering a diverse mix of properties such as residential, retail, office, hotels, and leisure developments that support local economic growth and nation-building.

CANCER (June 21-July 22): Work alongside people trying to reach the same objective. It’s time to build a solid platform to execute what you want to unfold. Don’t invite opposition to the table until you are ready to engage in deep debate with a foolproof plan. HH

e

LEO (July 23-Aug. 22): Ignore what you can’t change and focus on what brings you joy or encourages you to take responsibility for your happiness. Use your voice to let others know how you feel. The feedback you receive will enable you to alter your course and nurture where necessary. HHHHH

f

VIRGO (Aug. 23-Sept. 22): A new environment will jump-start ideas and get you moving in a direction that offers new beginnings or motivates you to take care of unfinished business. A positive attitude and persuasive tone will encourage others to pitch in and help. Partnerships look promising. HHH

g

LIBRA (Sept. 23-Oct. 22): Home is where the heart is, and it’s up to you to make it appealing. Nurture relationships to ensure the outcome consists of love, and encourage peace and happiness. Share your favorite things with loved ones, and appreciate what they share. HHH

h

SCORPIO (Oct. 23-Nov. 21): Set high standards and work on yourself instead of trying to change others. A disciplined attitude and a vivid imagination will help you implement a positive shift in how you live and handle situations you encounter. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Put a plan and budget in place and make alterations at home that improve life and personal relationships. Be forthcoming about what makes you happy and issues you want to resolve. Listen to complaints, suggestions and cries for help, and you’ll find solutions. HHHHH

j k

CAPRICORN (Dec. 22-Jan. 19): Focus on home and family and how to build equity and simplify your life. Altering your lifestyle to fit your needs will ease stress and encourage you to have more fun. Heart-to-heart talks will bring you closer to someone you love. HH AQUARIUS (Jan. 20-Feb. 18): Speak from the heart when dealing with relationships, money and lifestyle changes you want to pursue. Don’t let anyone convince you to spend more than you can afford or pander to their needs. Look at the big picture and create situations that work best for you. HHHH

l

PISCES (Feb. 19-March 20): Broaden your awareness regarding investments, lifestyle and work. It’s up to you to find the balance that makes you feel content and lock in the changes that work for you. Living under someone else’s umbrella isn’t likely to satisfy your needs. HHH BIRTHDAY BABY: You are sensitive, innovative and perceptive. You are broad-minded and talkative.

‘tripartite’ BY DANIEL HRYNICK

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit ACROSS 1 Real beaut 4 Roll downhill 9 Form W-8 BEN org.

12 Earth Day prefix 13 See 29-Across 14 T, in Greek 15 Symbol denoting “ergo” in math proofs 18 $100 bills, slangily 19 Highly recommended tourist activity 21 Move up and down 22 “Honest!”

26 Tick off 27 (I’m smitten!)

29 With 13-Across, Dutch seat of government 30 Covered stadiums 32 ___ d’oeuvres 33 ___ gratia artis 34 Peepers 35 Moore of “Disclosure” 36 Garbo or Thunberg 38 Casual get-together 40 Blizzard cookie, maybe

41 Really bothered 42 Make like a ___ and leave 43 Arctic bird 44 Nasal walls 45 Suitable for beginners 46 He’s usually hunched over a toy piano in “Peanuts” 49 Gear for exploring a coral reef 52 “That dude?”

53 Insurance company that Gilbert Gottfried did voice work for 57 A double beer bong has two of them 58 0.75 + 0.25 59 French presentation word?

60 Her debut album was “19” 61 Peak: Abbr.

62 Mistake 63 Projectiles at a bar 64 Je : suis :: il : ___ 65 Hockey shoe DOWN 1 Make zero progress 2 Millennial, by another name 3 Champagne name

4 Loot box 5 Clumsy person 6 “That was ages ___!”

7 Big ___, California 8 Winnipeg Jets legend Selanne 9 Suffix with “senior” 10 When Scott Joplin composed many pieces 11 Inapt attire for a girls’ night?

16 Horse controllers 17 Blue shoe material 18 Network that aired “The King of Queens” 20 Gives the go-ahead 23 Foothold in the housing market 24 Field goal’s score ... or what 15-Across, 28-Down or 31-Down has 25 Alternate phrasing 28 What keeps the Hunter’s pants up 31 Utensil designed for certain seafood 35 “i” lid?

36 Deep cut 37 Slightly 39 “Yo”

47 Lawyers take them on 48 Roof overhangs 49 Roe fish 50 Musical conclusion 51 For whom the notification bell tolls?

54 Italian currency before the euro 55 Tons 56 Give a darn

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Tuesday, February 13, 2024

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Ryan Gallagher to steal the hearts of Filipinos this Valentine

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GORGEOUS singer, who is also one of the more popular discoveries of America’s The Voice, aims to capture the hearts of the Filipino audience this Valentine weekend.

Having been to the country countless times, Ryan Gallagher considers the Philippines his home away from home, and he is determined to perform in as many venues he could in this country that he has grown to love.

“There is this unexplainable connection between my soul and the Philippines,” he told us during an intimate lunch get-together recently. “I can no longer count the number of flights I’ve made to Manila but there is this inner voice that constantly reassures me that I am in the right place and this is where my music and whatever God-given gift I was blessed with, will aim to soar and touch more people.”

Turning 36 in May, Gallagher’s Chinese animal sign is the Earth Dragon, and this year could be his lucky year. A week after the celebration of the Lunar New Year, Gallagher will headline a special postValentine concert at the Music Museum in Greenhills.

Billed as The Voice of Ryan, the musical event will showcase the range of Gallagher as a musical artist. “It will be some sort of a musical narrative detailing my journey as a music man, from the songs that formed my true love for music to the pieces that resonate in my life now that I am exploring the many possibilities I have as a performing artist in the Philippines.”

Gallagher recently signed an exclusive management contract with Fire and Ice PH, the company of owned by entertainment couple Ice and Liza Diño-Seguerra. “I am just so happy that this team will officially take care of me and chart my career here. I am confident that I will go places with this team I am so lucky to have!” he enthused.

“Ice and Ryan have such impeccable chemistry, and we’ve seen this many times in various occasions

FROM left: Choreographer Martin Lawrance, Ballet Manila artistic director and CEO Lisa Macuja Elizalde, and artistic associate Gerardo Francisco

Well-loved masterpieces and magical Filipino stories come to life in Ballet Manila’s new season

RYAN GALLAGHER

where they have performed together. Not to mention that they also adore each other, “ shared Diño-Seguerra, whose team is producing the concert this weekend.

For this special Valentine show on February 17, Gallagher will have Martin Nievera, Lara Maigue and Ice Seguerra as special guests. “It will be an evening of both soothing and spectacular music.

The repertoire we’ve chosen for this are not the songs that I’d normally sing in my shows. We won’t be onstage to impress with the songs and the high

notes, but we’d like the audience to be able to relate more to us, and for us to be more relatable to them.”

He added, “I’ve been told that Valentine is a big deal for Filipinos, and I’m glad that we’re doing this show on the weekend after Valentine’s Day so we won’t be caught in the rush, and just be able to chill, enjoy and share our songs. Music is such a beautiful thing that you’ve really got to share it with people.”

And on concert night, we are sure that Ryan Gallagher will be sharing more than just his music to the his audience. He will also steal our hearts.

UK’s King Charles III attends church for first time since revealing he has cancer LONDON—King Charles III cheerfully waved to well-wishers on Sunday as he left church services near his country estate in eastern England, making his first public appearance since his cancer diagnosis was announced last week.

Wearing a tan overcoat against the February chill and carrying a rolled-up umbrella, Charles was joined

by Queen Camilla at St. Mary Magdalene Church, just a few hundred yards from Sandringham House where the king is recuperating after his first treatment for an unspecified form of cancer.

The 20,000-acre Sandringham estate, some 110 miles (180 kilometers) north of London, is a favorite refuge of the king’s and offers a place of shelter where he can isolate from the risk of infection.

The appearance came a day after Charles expressed thanks for the messages of support he has received from the public. In a statement issued late Saturday, the monarch said that such thoughts are “the greatest comfort and encouragement.”

“It is equally heartening to hear how sharing my own diagnosis has helped promote public understanding and shine a light on the work of all those organizations which support cancer patients and their families across the U.K. and wider world,” he said in a statement, signed Charles R. “My lifelong admiration for their tireless care

BRITAIN’S King Charles III and Queen Camilla walk with Canon Paul Williams as they arrive to attend a Sunday church service at St Mary Magdalene Church, in Sandringham, Norfolk, England, on February 11, 2024. AP

and dedication is all the greater as a result of my own personal experience.”

Buckingham Palace announced the king’s diagnosis on Monday, less than three weeks after he was treated for an enlarged prostate. While palace officials didn’t disclose the type of cancer, they said it wasn’t prostate cancer.

On Sunday, a crowd of about 100 gathered outside the gates of the estate to show their support for the king. Charles and Camilla greeted a priest as they walked into the Anglican church, and waved to the crowd as they left.

St. Mary Magdalene is a medieval stone church that was restored in the 19th century. Protected as a historic building, the church includes memorials to the royal family stretching from Princess Alice in 1879 to King George VI, Charles’ grandfather, in 1952.

Nearby Sandringham House, the private home of the past six British monarchs, sits amid parkland, gardens and working farms. It has been owned by the royal family since 1862.

Charles has visited the estate regularly since he was a child, when he would run through the halls playing tag and hide-and-seek with his mother, according to biographer Jonathan Dimbleby. In later years he has retreated to the estate on the north coast of Norfolk to enjoy hunting and nature walks through the windswept countryside. AP

Sparkle to re-introduce real meaning of love this February SPARKLE GMA Artist Center joins in on the festivities of the so-called love month as it launches two rising pairings that’ll surely make hearts skip a beat. What sets them apart from the others is that this new set of pairings isn’t all just about inducing thrills.

The love teams of Ashley Sarmiento and Marco Masa as well as Princess Aliyah and Bryce Eusebio will reshape the meaning of love and allow you to see it from a different angle.

Both in their youths, AshCo and PrYce are here to prove that young love can be wholesome, pure, and gentle.

With this being Sparkle’s first-ever launch for 2024, the leading talent management arm of GMA made sure to keep all the excitement up and running with several tricks up their sleeves.

To officially launch these new pairings, Sparkle organized a media conference and also unveiled a billboard along Edsa to spread the word further and let the public know that there are new young stars in town.

And that’s just the tip of the iceberg. At the core of this launch is Sparkle’s newest and first-ever TikTok Kilig Series which is ongoing until February 29 on their official TikTok account. Sparkle’s TikTok Kilig Series is a series of short, funny and kilig skits that star AshCo and PrYce as well as one of Sparkle’s staple love teams, AlFia a.k.a. Team Jolly which comprises stars Allen Ansay and Sofia Pablo. It’s also the talent management’s newest Valentine offering for its avid fans and supporters.

Ashley Sarmiento and Marco Masa’s “Secret Notes” runs from February 8 to 14. Fans and fellow gamers can also look forward to Princess Aliyah and Bryce Eusebio’s budding friendship in “Beyond the Game” which will run from February 16 to 22.

Last, but not least, one of Sparkle’s strongest pairings, Sofia Pablo and Allen Ansay will also star in Sparkle’s “Mystery Girl” which will run from February 24 to 29.

“A SHOWCASE of technical and virtuosic feats” is how world-renowned prima ballerina and Ballet Manila artistic director and chief executive officer Lisa Macuja Elizalde describes the opening salvo of the company’s 26th performance season, billed as “Ballet Masterpieces,” owing to the excellent lineup of shows that feature two classical ballet productions, along with the enchanting and timeless appeal of Filipino literary classics.

The season is set to open with the propitious staging of Le Corsaire (The Pirate) as rechoreographed by Macuja Elizalde herself. It will be staged on February 24 at 8 pm and February 25 at 5 pm at Ballet Manila’s home, the Aliw Theater in Pasay City.

From the swashbuckling tale of romantic adventure, Ballet Manila brings well-loved Filipino tales to life with Tatlong Kwento ni Lola Basyang on May 11, 8 pm, and May 12 and 18, 5 pm. For this special production, Ballet Manila has partnered with Anvil Publishing with an aim to keep alive the legacy of renowned Filipino writer Severino Reyes.

The ballet versions are based on multiawarded children’s book writer Christine Bellen Ang’s retelling of Severino Reyes’ stories.

Completing the 26th season is Giselle, an ethereal, romantic ballet that tackles love, tragedy and loss, and will be performed on August 31, 8 pm, until September 1, 5 pm.

For the rest of the year, Ballet Manila (www. balletmanila.com.ph) is set to continue to showcase its unwavering artistry and excellence with the world premiere of Gerardo Francisco’s and Martin Lawrance’s cutting-edge version of Florante at Laura on October 12, 8 pm, and October 13 and 19, 5 pm.

Through its continuing partnership with Aréte Ateneo, audiences will get to enjoy Gerardo Francisco’s iteration of the Filipino classical tale Ang Ibong Adarna at the Areté Theater in November 2024.

Finally, the ballet company continues to celebrate its tradition of bringing the spirit of Christmas spirit alive through its Holiday Cheer Series. This year, the young and young at heart will get to enjoy Lisa Macuja-Elizalde’s take on Snow White and will be staged on December 25 to 30.

All performances will be staged at Aliw Theater, Pasay City. For tickets, visit www.ticketworld.com.ph or https://bit.ly/BuyTicketsBMLeCorsaire2024.

COLIN JOST OF ‘SATURDAY NIGHT LIVE’ GETS ENTERTAINER GIG AT WHITE HOUSE CORRESPONDENTS’ DINNER WASHINGTON—Colin Jost, the co-anchor of Weekend Update on Saturday Night Live, will get a chance in April to roast leading political and media figures as the featured entertainer at the annual dinner of the White House Correspondents’ Association.

“His smart brand of comedy and keen observation will turn up the heat on the national news media and across the political spectrum,” said Kelly O’Donnell, president of the White House Correspondents’ Association and NBC News Senior White House Correspondent, in a statement.

A writer and comedic performer, Jost has written for the longrunning NBC late night comedy franchise since 2005. He began co-anchoring the show’s news parody in 2014 with Michael Che. His film credits include Coming 2 America and Tom & Jerry.

He is the author of the memoir A Very Punchable Face. Jost, 41, grew up in the New York City borough of Staten Island and graduated from Harvard University, where he was dormmates with now Transportation Secretary Pete Buttigieg.

Jost is married to actress Scarlett Johansson.

The US president and first lady traditionally attend the WHCA dinner, as do senior government officials and members of the press corps with the proceeds from the night helping to fund scholarships for journalism students. AP

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Tuesday, February 13, 2024

www.businessmirror.com.ph

DOE COMMENDS MERALCO, MPOWER FOR FULL

COMPLIANCE WITH REPORTORIAL REQUIREMENTS

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ANILA Electric Company (Meralco) and MPower, its local retail electricity supplier, have been recognized by the Department of Energy (DOE) for their full compliance with the government’s reportorial requirements and continued fulfillment of their mandate as power sector players.

In particular, the compliance pertains to the government’s policy directives in ensuring the provision of adequate and reliable electric power supply under DOE

Department Circular No. DC2010-030003, as well as the timely submission of pertinent reports and data required for the formulation of the power supply

Night Owl Book Now available in Hiligaynon, Kapampangan, Bikolano

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HE book that details the Build Build Build program of former President Rodrigo Duterte is now available in Hiligaynon, Kapampangan, and Bikolano, according to its author, former Build Build Build Committee Chairperson Anna Mae Yu Lamentillo.

The book titled, “Night Owl: A Nationbuilder’s Manual,” was originally written in English and has since been translated to Tagalog, Bisaya, and Ilokano.

“This is in line with our continuous effort to bring the story of Build Build Build to as many of our kababayans as

possible. Reading this book in their local language will allow them to fully embrace this narrative—our story of inclusive growth as a nation, made possible through this program that ushered in the Philippines’ Golden Age of Infrastructure,” said Lamentillo.

She also thanked her publisher, Manila Bulletin Publishing Corporation, for supporting this endeavor of translating Night Owl into local languages to help spread the importance of infrastructure development to a wider Filipino audience.

Night Owl was written from Lamentillo’s

The Abba’s Orchard expands programs in Pueblo de Oro Townscapes Malvar

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UEBLO DE ORO Development Corporation (PDO), the residential development arm of the ICCP Group, announced the expansion of educational offerings by The Abba’s Orchard in its Montessori farm campus in Pueblo de Oro Townscapes Malvar in the province of Batangas.

The Abba’s Orchard, the country’s largest and authentic Montessori school, is slated to open its farm-based adolescent program in August 2024 at its farm campus in Pueblo de Oro Townscapes

Malvar.

The school opened in Malvar, Batangas last August 2023 offering pre-school and lower elementary programs. The campus in Pueblo de Oro Townscapes Malvar is The Abba’s Orchard ’s 14th location in the country.

Pueblo de Oro’s partnership with The Abba’s Orchard is a fulfillment of the vision of creating a true live-workplay-learn community for Pueblo de Oro Townscapes Malvar, a 42-hectare mix-use development.

and demand forecasts included in the power development plan under DC201504-0002.

Meralco and MPower were also commended for their role in the effective and successful transition in the implementation of the Retail Competition and Open Access as prov ided under DC2013- 05- 0006.

“These recognitions from the DOE not only reflect Meralco’s commitment to strictly adhere to regulatory standards, but also underscore its dedication to provide quality service as part of its efforts to contribute to nation-building and drive economic progress,” said Ronnie L. Aperocho, Meralco’s Executive Vice President and Chief Operating Officer.

These citations, covering DOE’s 2023 compliance period, were signed by Undersecretary Guevara on December 6, 2023.

perspective. She narrates the challenges faced by the Build Build Build team and the Duterte Administration in carrying out this massive program. She shares how through political will, powered by the desire to propel the country’s economic growth that will benefit all Filipinos, they were able to complete 29,264 kilometers of roads, 5,950 bridges, 11,340 flood mitigation structures, 222 evacuation centers, 150,149 classrooms, 214 airport projects, and 451 seaport projects in the span of five years, with the help of 6.5 million Filipino workers.

The book also includes a chapter on Build Better More, the infrastructure program of the present administration of President Ferdinand Marcos Jr. that includes a strong digital infrastructure component.

Together with sister company Science Park of the Philippines (SPPI), Pueblo de Oro has developed a master-planned community that showcases exclusive subdivisions that offer high-quality and sustainable homes and are conveniently located near employment opportunities, commercial establishments, places of worship, and educational institutions such as The Abba’s Orchard.

A farm campus is Dr. Maria Montessori’s prepared environment for the adolescent. She called it the Erdkinder, German for “children of the earth.” A laboratory for life, the Erdkinder provides a “production and exchange” setting in a “work and study” curriculum that addresses the adolescent’s evolving sense of self-worth, collaboration, and mission.

MARK SABEROLA, General Manager, Normann Chiu, President and Aristotle Agustin, Network Development Officer, at the VPX booth during the Franchise Asia Expo 2023, where VPX Auto Service Franchise showcased their innovative service solutions to prospective franchisees and industry leaders.

Philippine Franchise Association Welcomes VPX Auto Service Franchise as a New Member

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PX Auto Service Franchise, operated by ValuePlus Auto Services Philippines, Inc., has achieved a milestone by being accredited as a Franchisor Member by the Philippine Franchise Association (PFA).

The decision, announced following the PFA Board Meeting last January, is a testament to the franchise’s commitment to excellence in automotive servicing.

Normann Chiu, President of ValuePlus, expressed his pride in the company’s accomplishment, “Being recognized by the PFA is a reflection of our unwavering commitment to superior service and franchisee success. It’s an acknowledgment that VPX Auto Service Franchise is among the best in the Philippine automotive service industry.”

The PFA is dedicated to advocating for high standards of franchising practices. Membership in this esteemed association provides VPX

Auto Service Franchise with access to valuable resources and a network of industry leaders committed to ethical franchising.

Mark Saberola, General Manager of ValuePlus, also commented on the new membership status, “Our PFA membership is more than a symbol; it’s a strategic avenue for VPX to enhance our operational excellence and to forge stronger connections within the franchising community. We’re excited about the growth and innovation this will spur for our franchisees.”

With this accreditation, VPX Auto Service Franchise reinforces its commitment to upholding the highest standards of quality and customer service, ensuring they remain at the forefront of the automotive service industry.

For additional details about VPX Auto Service Franchise and their commitment to excellence in auto servicing, please visit www. valueplusph.com.

MullenLowe MARC wins top honor for PR Programs at the 59th Anvil Awards

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ULLENLOWE MARC, the public relations unit of MullenLowe TREYNA, took home 12 Anvils at the 59th Anvil Awards organized by the Public Relations Society of the Philippines (PRSP).

The agency’s latest haul includes a Silver Anvil for Unilever Domex’s Eskwelang Unstoppable, plus a silver and gold for FWD Life Insurance’s Pinoy Money Master and The One for Gamers, respectively.

The Quezon City Gender and Development Council came out with the biggest haul for the agency with the Right to Care Card, which won six silvers, two golds, and the year’s Grand Anvil—the top honor for the PR Programs category. Launched in Pride Month of 2023,

it leveraged the power of technology to give LGBTQ couples the power to make emergency medical decisions on behalf of their partners— a right previously reserved only for heterosexual partners and next of kin.

T he Gra nd A nv i l m a rked a h i stor ic first for five-year-old MullenLowe MARC, wh ic h i s now i n it s t h i rd consec ut ive year as a PR Agency of the Year nominee.

The Anvil Awards, presented by the Public Relations Society of the Philippines (PRSP), is the industry’s most prestigious awards program for public relations campaigns in the country.

For more information on MullenLowe MARC’s Anvil-winning work, visit https://philippines. mullenlowe.com/

World Features

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

BusinessMirror

Tuesday, February 13, 2024

B7

How President Biden and his allies are pushing back against a special counsel’s claims about his memory

By Steve Peoples, Zeke Miller & Seung Min Kim

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The Associated Press

ASHINGTON—President Joe Biden’s Democratic allies are launching an aggressive defense against a special counsel’s explosive claims that the 81-year-old president couldn’t remember major milestones in his life, trying to diminish the significance of the prosecutor’s allegations that Biden was too forgetful to be charged for mishandling classified material.

Biden set the angry tone hours after special counsel Robert Hur’s report was released, dismissing the report’s conclusions about his memory and insisting he hadn’t forgotten the year his son Beau died, as Hur claimed. Democrats on Capitol Hill and around the country quickly followed.

“Republicans saying that Biden is old is the least surprising thing in American politics,” Sen. Brian Schatz, D-Hawaii, said. “It’s all they’ve got.”

Democrats plan to answer the widespread questions about the 81-year-old president’s age and readiness by affirming that Biden is capable of being commander in chief and trying to discredit people who portray him as enfeebled. Key to that strategy is drawing a contrast with former President Donald Trump, the heavy Republican front-runner who is himself 77 and has also confused names and facts while also facing four indictments and multiple multimillion-dollar civil judgments.

The signs of support are crucial for Biden as he prepares for what could be a tight election against Trump. Even before the report’s release, fears were mounting that the coalition that helped elect Biden in 2020 was fraying, making it all the more important for Biden to keep as many supporters as possible firmly on his side.

The Biden campaign circulated talking points to allies that were obtained by The Associated Press.

The talking points refer to Hur, a US attorney during the Trump administration, as a “M AGAappointed attorney who doesn’t have a case so he decided to lob personal attacks against the president.” That’s a reference to “Make America Great Again,” Trump’s political movement.

The talking points also stressed that Hur is “a lawyer—not a doctor—so people should take his legal conclusions and ignore his political opinions.”

The White House has also noted Biden cooperated with Hur, who declined to charge him with

PRESIDENT Joe Biden speaks in the Diplomatic Reception Room of the White House on Thursday, February 8, 2024, in Washington. AP/EVAN VUCCI

unlawfully retaining classified documents, while Trump faces an indictment in Florida after the FBI seized records from his Mara-Lago residence.

“The way that the president’s demeanor in that report was characterized could not be more wrong on the facts and clearly politically motivated, gratuitous,” Vice President Kamala Harris said Friday. “I will say that when it comes to the role and responsibility of a prosecutor in a situation like that, we should expect that there would be a higher level of integrity than what we saw.”

Indignation spread into South Carolina, where Biden scored a commanding victory in the firstin-the-nation Democratic primary on Feb. 3, which was designed by his campaign to project clear strength. Some saw Biden’s forceful response to the special counsel as a promising sign.

“I truly believe this is bringing the best out in the president. It’s showing that he’s a fighter,” said LaJoia Broughton, a 42-year-old small-business owner in Columbia who voted for Biden in the primary.

Biden aides say they do not ex-

pect the president or his campaign to take on the age question more directly. They can’t make Biden any younger, and note that attacks on the president over his age were also persistent four years ago, when Trump labeled him “Sleepy Joe.” Instead, they intend to draw on the blueprint of the 2020 campaign and argue many voters won’t want a repeat of Trump’s turbulent time in the White House. They also plan to highlight Biden’s accomplishments and an economy that continues to show strength.

“The president has said that age is a fair question on voters’ minds, but if you’re an independent or pursuable voter across this country and you’re worried about your kid facing gun violence while going to school, the prospect a national abortion ban, or the future of our democracy, you may think about the president’s age, but at the end of the day the choice is easy,” said Kate Berner, a former deputy communications director in the Biden White House. “Donald Trump is on the wrong side of all of those issues.”

Some Democrats weren’t so optimistic.

“This is a distraction. When you’re running a presidential campaign, you don’t like distractions,” said Jim Messina, who led former President Barack Obama’s last campaign.

Messina compared the special counsel’s report to the announcement in October 2016 by then-FBI Director James Comey that he was further investigating Democratic presidential nominee Hillary Clinton’s handling of classified e-mails when she was secretary of state.

Comey’s announcement, which came 11 days before the election, has been blamed for helping Trump beat Clinton.

In this case, this week’s report comes nine months before Election Day, Nov. 5 “There’s just so much time to get through all this,” Messina said.

“Trump has all the trials coming up. I’d be surprised if this was an issue in a month.”

Still, Trump’s allies were emboldened this week.

Beyond celebrating the release of the special counsel’s embarrassing descriptions of Biden, Trump won a new trove of delegates in Nevada’s Thursday caucuses, where he ran unopposed.

“We all already know that Joe Biden is senile. What’s being lost is that Joe Biden is a criminal who put American national security at risk,” Donald Trump Jr. wrote in one of many messages highlighting the new report.

Barry Goodman, a Biden fundraiser from Michigan, said he’s had some donors “take a wait and see approach” about supporting Biden, even before the special counsel’s announcement.

“They wanted to see if someone else would get in or whether Trump would drop out—but no one else is getting in,” Goodman said. “Of everyone I talk to, some are more excited than others.”

Still, Goodman said the report did nothing to shake his support

for Biden.

Trav R ober t son, a for mer Sout h Ca rol ina Democrat ic Party chairman, described the report as an obvious political liability for Biden. But he directed blame squarely at Attorney General Merrick Garland for allowing the report to include comments about the president’s age, memory and cognitive function.

“Merrick Garland not doing his job only allowed a Trump appointee to feed a political narrative to deflect from Trump,” Robertson said, adding, “Donald Trump can’t lift a glass of water to his lips without using both hands because he’s old.”

Indeed, Biden’s allies were eager to highlight a perceived double standard as Biden’s gaffes get far more attention than those of other leading politicians.

Trump repeatedly confused former House Speaker Nancy Pelosi, D-Calif., and Republican rival Nikki Haley in recent weeks. Biden didn’t help himself, of course, by referring to the Egyptian leader as the president of Mexico late Thursday.

“There’s a clear unfairness there that people feel,” Rep. Dan Goldman, D-N.Y., a former US attorney, said of the focus on Biden’s gaffes, describing the special counsel’s assessment of Biden’s mental health as “improper,” “inappropriate” and “shameful.”

Rep. Robert Garcia, D-Calif., noted that even House Speaker Mike Johnson, R-La., also recently confused Iran with Israel.

“Who cares?” Garcia said of the gaffes. “The president is going to win. I’m very confident in that.

Most importantly, he’s going to be running against a 91-time indicted criminal.”

Peoples reported from New York.

Associated Press writers Bill Barrow in Atlanta and Ayanna Alexander contributed to this report.

No respite for Sunak as gaffes blunt Tory attacks on Labour

A

By Alex Wickham, Kitty Donaldson & Isabella Ward

N ugly row with the family of a murdered teenager and an on-air bet about deporting asylum-seekers summed up another week to forget for Rishi Sunak as time ticks down to a UK election. Within days, he may be adding a recession, higher inflation and the loss of two Parliament seats to the list.

The setbacks are coming at a critical time for the prime minister, as officials in the Conservative Party grow more concerned about his struggle to establish a winning election campaign narrative. Trailing the Labour Party in the polls, the Tory plan was to spend the opening weeks of 2024 drumming into voters that the economy is turning the corner and that they should stick with Sunak rather than returning to “square one” with opposition leader Keir Starmer.

“Because economic conditions have improved, because the plan is working, you are starting to see mortgage rates come down and we have been able to cut taxes,” Sunak said, in an interview with The Times published on Friday. “I do believe those pressures are starting to ease and that hopefully over the course of this year we can continue to make even more progress.”

That economic argument may

soon hit a bump in the road. Data on Wednesday is predicted to show an uptick in consumer prices that, though not derailing the longerterm downward trend, would serve as a reminder of Britain’s ongoing squeeze on living standards. Then on Thursday, Sunak will learn if Britain fell into a technical recession at the end of last year. Economists see it as a coin toss, but whichever way the numbers fall, they will underscore how Sunak is yet to properly deliver on his core promise to grow the economy.

All of which poses an unappealing backdrop to the week’s major political event: Thursday’s by-elections in two Tory-held English districts, Wellingborough and Kingswood. Labour is widely expected to take both, given the headwinds facing Sunak’s party.

But the premier would likely be more worried by a strong performance by the right-wing Reform UK party, which would trigger new calls for him to step down or be ousted, people familiar with the matter said.

Sunak ’s critics on the right of the Conservative Party have flagged the special elections as the next marker in their attempts to remove him before the election, which the prime minister is expected to call in the autumn.

Their argument is that Labour’s 20-point poll lead hasn’t shifted for months, and that Downing Street is wasting time it doesn’t

have to turn things around.

Doctors’ strikes this month are another looming flash point, a person involved in the plot against Sunak told Bloomberg. A rumored tax cut in the March budget is unlikely to move the polls, the person said, adding that the government’s achievements this year boil down to a ban on disposable vapes.

When asked whether tax cuts would be announced in the spring budget, Sunak told the Times that “none of us ever talk about this stuff before budgets,” adding that: “Other people are. I think they’re over-interpreting. What the chancellor and I have said is that of course our long-term plan is to cut people’s taxes.”

Sunak’s advisers wanted him to enter this tricky period on the back of more positive headlines, after Labour responded to repeated Tory attacks by jettisoning the opposition party’s flagship green spending plan. Instead, the prime minister’s missteps made the week more of a score-draw with Labour—despite Starmer’s U-turn ranking as one of his worst days as party leader.

“We’ve got a series of self-canceling gaffes,” said Steven Fielding, Emeritus Professor at the University of Nottingham.

Sunak’s decision to shake hands on a £1,000 ($1,260) bet during a TV interview with presenter Piers Morgan, about whether flights deporting asylum-seekers to Rwanda

would take off before the election, triggered widespread criticism from opposition politicians. For right-wing Tories, it wasn’t the subject of the bet but rather the circumstances that rang alarm bells. As Sunak’s team hurried to walk it back, they explained the premier was taken by surprise.

Just days later, a similar error played out in the House of Commons—with far more dramatic consequences. Sunak often pokes at Starmer’s stance on gender identity as part of a strategy to bring so-called culture wars into the election campaign. Doing so while Esther Ghey, whose transgender daughter Brianna was murdered last year, was in Parliament triggered a political firestorm.

“Shameful,” Starmer said, as Sunak faced MPs shouting for an apology.

Behind the scenes, disagreements broke out around Sunak that laid bare the limits of his authority. Some senior aides urged him to stick by his comments and not apologize. Others saw it as a lapse of judgment, and one privately described it as the worst gaffe in Prime Minister’s Questions they’d ever seen. There were recriminations about the quality of work done to prepare Sunak.

But it also split the Cabinet. As the debate continued over an apology, Sunak’s Business Secretary Kemi Badenoch—seen as having her own leadership ambitions—

posted on social media without Downing Street’s sign off. Though she supported Sunak’s comment, aides saw it as a deliberate attempt to force his hand over a culture war issue that right-wing Tories are keen on.

The next day Cabinet minister Penny Mordaunt, whose support base is in the more centrist wing of the Tory party, urged the prime minister to “reflect” on his choice of language—an intervention that also infuriated Sunak ’s aides.

The episode has underscored Tory concerns about his political instincts. Even some loyalists said he lacks the ability to react quickly when under pressure, which could cause problems in an election campaign. One aide suggested Downing Street should insulate Sunak from awkward public moments.

There’s also frustration that such unforced errors led to a missed opportunity to take advantage of Labour’s own internal strife.

“It’s a big opportunity cost for the Tories,” said Robert Ford, professor of politics at the University of Manchester.

The opposition party is holding its own inquest into the fallout from Starmer’s decision to scale back its plan to spend an extra £28 billion a year on green projects to just £4.7 billion. The move, driven by economic conditions and Tory accusations that Labour planned

to raise taxes to fund the plan, triggered anger among MPs who want the party to prioritize tackling climate change.

Starmer’s chief of staff, Sue Gray, reacted angrily to the weeks of internal leaks that the party was about to ditch the policy, suggesting shadow cabinet aides were behaving like bickering Tories and urging senior advisers to find who was responsible, according to people familiar with the matter.

In a sign of the discontent in the shadow cabinet, some privately accused Lucy Powell, an ally of energy spokesman Ed Miliband, of being loose-lipped. She denied the claim. Others suggested fiscal hawks who wanted to scrap the policy leaked it in an attempt to bounce Starmer into reaching a decision sooner.

Miliband’s disappointment has been tempered by a belief that it could be at least in part revived and, should the economic outlook improve in office, more money might be found for the green transition, according to a Labour official who spoke on condition of anonymity. Labour need to keep quiet on any big spending plans and preach fiscal restraint to win the election, before deciding exactly what to do in office, they said.

Miliband told Channel 4 News on Friday he “absolutely” did not consider resigning over Starmer’s decision. With assistance from Nour Al

Ali/Bloomberg

Sports

Taylor Swift’s on winning side

BusinessMirror

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B8 | T

uesday, February 13, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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AS VEGAS—Patrick Mahomes, Travis Kelce and the Kansas City Chiefs are back-to-back Super Bowl champions.

Mahomes threw a 3-yard touchdown pass to Mecole Hardman in overtime and the Chiefs rallied to beat the San Francisco 49ers, 25-22, on Sunday, becoming the first repeat Super Bowl champs in 19 years and ninth overall.

With pop star Taylor Swift watching boyfriend Kelce from a suite, the Chiefs captured their third title in five years and firmly established themselves as a dynasty.

The National Football League’s (NFL) first Super Bowl in Las Vegas was a sloppy, mistake-filled affair that was mostly boring until the back-and-forth fourth quarter and OT. It was the second of 58 Super Bowls to be tied after regulation and the first played under new overtime rules that ensured both teams got the ball.

The Chiefs (15-6) trailed 22-19 after Jake Moody kicked a 27-yard field goal on the first possession of overtime, but Mahomes rallied the Chiefs, completing another impressive comeback in a rematch of the Super Bowl four years ago.

Mahomes ran 8 yards on fourthand-1 to keep the Chiefs’ chances alive and then scrambled 19 yards to set up the winning score, which came 14:57

Back-to-back Super Bowl champions! into the extra period—just before what would have been the second OT. “With all the adversity we’ve been through this season to come through tonight.... I’m proud of the guys,” said Mahomes, who was named MVP. “This is awesome. Legendary.”

After he connected with a wideopen Hardman, the Chiefs ran on the field as red-and-yellow confetti fell onto the turf.

The most excitement in the first half came when a frustrated Kelce bumped Andy Reid on the sideline, knocking the Chiefs’ 65-year-old coach a few steps back after teammate Isiah Pacheco fumbled inside the red zone during the second quarter.

“You guys saw that?” Kelce said.

“I’m going to keep it between us unless my ‘mic’d up’ tells the world. I was just telling him how much I loved him.”

The action picked up after a crucial blunder by San Francisco’s special teams set up Mahomes’ 16-yard TD pass to Marquez ValdesScantling for a 13-10 lead.

Brock Purdy and the 49ers (14-6) answered but they couldn’t make enough plays, denying Mr. Irrelevant an opportunity to go from last pick in the 2022 NFL draft to Super Bowl champion.

Mahomes and Reid are now halfway to Tom Brady and Bill Belichick, who

won six championships in 20 years together with the New England Patriots and were the most recent team to go back-to-back following the 2003-04 seasons.

The 28-year-old Mahomes becomes the fourth starting QB to win three Super Bowls—joining Brady, Joe Montana, Terry Bradshaw and Troy Aikman—and second-youngest.

Niners wide receiver Jauan Jennings threw a TD pass and caught one, joining Eagles quarterback Nick Foles six years ago as the only players to do both in the Super Bowl.

After Moody’s 53-yard field goal gave the Niners a 19-16 lead with 1:53 remaining, Mahomes and Kelce went to work. Mahomes connected with Kelce for a 22-yard gain to set

up Harrison Butker’s tying kick, a 29-yarder with 3 seconds left.

A holding call on Kansas City’s Trent McDuffie extended San Francisco’s opening drive of overtime and Purdy made key throws to drive the 49ers to the Chiefs 9. But San Francisco settled for a field goal.

Purdy, Christian McCaffrey and the Niners jumped ahead 10-0, but that’s no big deal for Mahomes and the Chiefs in the Super Bowl. They’ve trailed by 10 points in all three of their victories, including last year’s 38-35 win over Philadelphia.

Mahomes wasn’t at his best early and threw an interception. But with the game on the line, he was a magician once again. He finished 34 of 46 for 333 yards and two TDs. AP

Cruz spots, snipes, scores and SMB nears crown

Remolino, Alcoseba wrest Sunrise Sprint crowns in CamSur

CIGNAL HD’s Joshua Umandal soars for a spike against College of Saint Benilde’s Arnel Christian Aguilar.

NONIE REYES

By Josef Ramos

Blazers and provide the opening-day highlight of the tournament backed

by PLDT, Ayala Land, Nuvali, Cignal, One Sports, One Sports+, Mikasa, Senoh, Foton, Philippine Olympic Committee and the Philippine Sports Commission.

National team spiker Joshua Umandal had 15 points on 12 hits and three blocks for the former champions, while skipper JP Bugaoan contributed 10 points and fellow national team player Llloyd Josafat and Wendell Miguel added six and five points, respectively.

who knocked the lights out at the Smart Araneta Coliseum with eight three-point shots, the last when the Beermen needed it most to halt a Hotshots rally.

“I have been working on my threepoint shooting in practice ever since so it’s just a matter of confidence,” said the 6-foot-2 former Adamson University Soaring Falcon, who’s averaging 9.6 points in the Finals.

Cruz went 11 of 22 in shooting from the field in Game 3 where CJ Perez—the team’s leading local scorer with an 18 points average—could only deliver sporadically to finish with only eight points on 4 of 13 shooting.

“I’m still in cloud nine, but we have to go back to the drawing board and win Game 6,” added Cruz as he and the Beermen shoot for the crown in Game 6 beginning at 7:30 p.m. also at the Big Dome Wednesday.

“I’m so proud of Jericho [Cruz].

His focus and determination are intact in this series,” Perez told BusinessMirror. “He also lessens the pressure on my part.”

June Mar Fajardo had his usual team-high numbers of 18 points and 15 rebounds and was all praises for Cruz.

“He’s the man of the hour in Game 5,” said Fajardo of his teammate who

Joining Buhain in the public sports program are local organizing committee president and CEO Joseph “Jojit” Alcazar and COO Dave Carter.

The session starts at 10:30 a.m. and is presented by San Miguel Corp., Philippine Sports Commission (PSC), Philippine Olympic Committee (POC), Milo and the 24/7 sports app in the country ArenaPlus.

The swimming competition supported by both the PSC and POC will feature more than 1,000 athletes from 25 countries.

The Forum is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and aired on a delayed basis over Radyo Pilipinas 2, which also shares it on its official Facebook page.

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K

IM REMOLINO and Faith Alcoseba lived up to pre-race hype in distinct styles in the Go for Gold Sunrise Sprint at the CamSur Watersports Complex in Camarines Sur on Sunday.

Remolino edged Matthew Hermosa and Renz Corbin in a thrilling finish, clocking one hour, four minutes and 33 seconds in ruling the men’s division of the sub-category event to the 5150 CamSur covering a 750-meter swim, 20-km bike and 5-km run distance.

Hermosa and Corbin turned in identical times of 01:04:49.

Alcoseba, on the other hand, dominated from start to finish to win the women’s side in 1:08:52.

Heart Quiambao placed a distant second in 1:14:09, while Nicole del Rosario came in third in 1:14:38.

Remolino and Alcoseba, both representing Team Go for Gold Cebu, flashed their exceptional form, previously excelling in a short-distance triathlon series as they shared top honors with 5150 CamSur overall winners Kim Mangrobang and Edward Macalalad.

Remolino also took the 20-24 age group title while Hermosa secured victory in the 15-19 division of the event organized by The Ironman Group/ Sunrise Events Inc., which also marked the triathlon’s return to its original race destination.

The other winners in the men’s categories were Mark Novallasca (25-29), Bryan Tan (30-34), Saidamen Manabilang (35-39), Dennis Llagas (40-44), Emilio Corral (50-54) and William Menes (55-59).

KANSAS City Chiefs quarterback Patrick Mahomes celebrates their Super Bowl 58 victory as tight end Travis Kelce kisses Taylor Swift. AP

AS VEGAS—With the run she’s having, how could Taylor Swift be on anything other than the winning side?

She embraced her boyfriend Travis Kelce and the couple locked lips on the field at Allegiant Stadium after his Kansas City Chiefs beat the San Francisco 49ers 25-22 in the Super Bowl.

Moments earlier, Swift smiled with her eyes looking misty from tears as she stood next to Kelce’s mother while he held aloft the Lombardi Trophy, shouting “Chiefs nation!” and bellowing a chorus of “Viva Las Vegas.”

Minutes before that, she was smothered by celebrity suite mates, who at various points included Blake Lively, Ice Spice and Lana Del Rey, when the Chiefs scored the winning touchdown in overtime, set up by a key reception by Kelce for a first down.

It was the second straight Super Bowl win for the Chiefs, but the first since Swift became fan-in-chief. She and Kelce began dating shortly before the season started.

It completes an epic stretch for Swift, who won album of the year a week earlier for a record fourth time at the Grammys, where she also announced a new album dropping in April before jetting off to Japan for a series of stadium shows.

Soon after flying halfway around the world to get to the game, she strolled through security to enter the stadium along with Lively, Ice Spice and her mom, Andrea Swift.

She cuddled with Lively during Post Malone’s performance of “America the Beautiful” and won what appeared to be a beer chugging contest, slamming her cup down to an appreciative roar from the fans.

She was spotted talking to Kelce’s brother, Philadelphia Eagles center Jason Kelce, and National Football League Commissioner Roger Goodell in one of the private boxes that reportedly cost more than $1 million. Del Rey joined the celeb-packed suite in time to catch Usher’s halftime show.

Swift flew on a private plane across nine time zones and the international date line from the last of four shows at the Tokyo Dome to arrive about two hours before kickoff.

The time change allowed her to land in Los Angeles and make the final hop to Las Vegas.

The 14-time Grammy winner walked in wearing a black outfit with a red jacket slung over her shoulder, apparently getting the memo from Kelce and many of the Chiefs.

He wore a shimmering black suit, quarterback Patrick Mahomes wore a sharp black suit of his own, and even Chiefs coach Andy Reid wore a black blazer as the Chiefs leaned into the role of the villains.

“Anti-Hero” also happens to be the lead single from Swift’s Grammywinning album, “Midnights.” AP

HE going got tough so Jericho Cruz got going and with his precision sniping from the outside helped earn for San Miguel Beer a 108-98 victory over Magnolia in Game 3 on Sunday night and a psychologically-boosting 3-2 lead in the Philippine Basketball Association Commissioner’s Cup race-to-four Finals.

“They [Hotshots] were giving us outside opportunities so I needed to make those shots,” said Cruz,

Cignal sets comeback tone in PNVF Champions League

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IGNAL HD kicked off its redemption drive Sunday with a rout of College of Saint Benilde in the Philippine National Volleyball Federation Champions League at the Rizal Memorial Coliseum where only a day before the franchise’s women’s team missed snatching the title.

“It’s our first game of the year and everybody contributed well not just the first six but the entire team,” said Cignal HD coach Dexter Clamor following his wards’ 25-19, 25-21, 2520 of the Blazers, the only collegiate

squad in the eight-team men’s tournament organized by the PNVF headed by Ramon “Tats” Suzara.

“They are all eager to win,” added Clamor, a former University of Perpetual Help Alta, whose team has two missions in the competition— regain the crown it lost to the University of Santo Tomas in the tournament branded as Champions Cup last November and avenge the women’s squad’s final setback to Petro Gazz last Saturday.

The vengeful HD Spikers needed only 88 minutes to dispose of the

PSA Forum on Asian age group swimfest

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HE biggest swimming event in the country this year will be tackled at the resumption of the Philippine Sportswriters Association (PSA) Forum Tuesday at the Conference Hall of the Rizal Memorial Sports Complex.

Philippine Aquatics Inc. secretarygeneral and Batangas First District Rep. Eric Buhain will talk about the 11th Asian Age Group Championships set February 26 to March 9 at the New Clark City Aquatics Center in Capas, Tarlac.

nailed 12 points in the fourth quarter.

“Jericho is the real X-Factor of the team. He’s not afraid of the opponent.”

Fajardo nursed a sore left calf and skipped practice for Game 5. But it hardly showed on Sunday night.

JERICHO CRUZ is the X factor for the Beermen in the series.