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Wednesday, January 31, 2024 Vol. 19 No. 108

THINK TANK SEES JOBS REBOUND AFTER EASING n

By Cai U. Ordinario

Marcos eyes new ‘resources,’ RCEP to expand trade with Vietnam

@caiordinario

HE end of Filipinos’s Christmas shopping and the usually slow start of the new year will likely ease employment growth, according to a local think tank.

In its latest Market Call report, First Metro Investment Corp.University of Asia and the Pacific (FMIC-UA&P) Capital Market Research, however, said this may only be seasonal. The think tank still projects that recent employment trends will be sustained and contribute to the country’s growth this year, which is still expected to average 6 percent. (See previous story: https://businessmirror. com.ph/2024/01/12/to-ensuregrowth-marcos-must-focus-oninfraspend/) See “Think tank,” A2

By Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand R. Marcos Jr. is eyeing to tap new “resources” and the Regional Comprehensive Economic Partnership (RCEP) to expand the country’s bilateral trade with Vietnam to US$10 billion. During his meeting with Vietnamese Prime Minister Pham Minh Ching on Tuesday, the chief executive noted there is still a huge growth potential in the country’s trade with Vietnam. “Our objective is to expand our bilateral trade which stands at just about $7 billion, today, to expand that to $10 billion by exploring untapped resources,” Marcos said. This was an improvement compared to the US$6.18 billion total trade between the two countries in 2022, with exports valued at US$1.72 billion and imports at US$4.46 billion. “We hope to capitalize on our

PARADISE KEPT The 2,000-year-old lake at the foot of Mount Bulusan

in Sorsogon Province is surrounded by a lush rainforest endowed with fauna and flora, including the rare and endangered Jade Vine. Its having been kept in such pristine state, despite the tourism surge in the Bicol region, is one of the best-kept secrets in the country’s story of rich biodiversity. JOEL C.PAREDES

‘Mega ecozone to make PHL Asean’s top investment hub’ HE Philippine Economic Zone Aut hor it y (Pez a) said establishing a mega ecozone in the Philippines will enable the country to become the top investment destination in the Asean region. “Similar to how our neighbors have developed gover nmentowned and managed large-scale eco-industrial and biotechnology parks, I am convinced that it is high time for the Philippines to establish its own mega ecozone,” Peza Director General Tereso O. Panga said in his speech at the signing by Peza of a Memorandum of Understanding (MOU) with the Bureau of Corrections (BuCor). “This will enable us to address

P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK

key obstacles hindering our country’s FDI growth and bid to become the top investment destination in the region, such as the availability of renewable energy sources, high power rates, land availability, cost, tenure, and size, as well as the ease and cost of doing business,” Panga said. The Peza chief said this as the investment promotion agency inked an MOU on Tuesday with the BuCor to establish economic zones on portions of land under BuCor. Included in the public economic zones to be established under this partnership with BuCor is establishing a mega economic zone,

See “Marcos,” A2

FLAT FARM GROWTH IN Q4, FULL YR ’23 FLAGS NEED FOR REFORM

HE country’s farm sector posted flat growth in the fourth quarter and full year of 2023 in terms of value, according to the latest data released by the Philippine Statistics Authority (PSA). Local economists said the latest farm growth data points to the need to immediately invest in technology and put in place crucial reforms. PSA d ata showed far m growth in terms of value was at 0.4 percent in 2023 and 0.7 percent in the fourth quarter of last year. Agriculture and

Fisheries growth contracted 0.2 percent in the third quarter 2023 and 1 percent in the same quarter of 2022, while the sector declined 0.1 percent in 2022. “[There is] much room to improve to boost growth this year. The new DA [Department of Agriculture] Secretary has his work cut out for him,” Ateneo Center for Research and Development (ACERD) Associate Director Ser Percival K. Peña-Reyes See “Flat farm,” A2

See “Mega ecozone,” A2

PESO EXCHANGE RATES n US 56.4140 n JAPAN 0.3825 n UK 71.7078 n HK 7.2200 n CHINA 7.8560 n SINGAPORE 42.1094 n AUSTRALIA 37.2897 n EU 61.1246 n KOREA 0.0423 n SAUDI ARABIA 15.0438 Source:

BSP (30 January 2024)

BusinessMirror

Wednesday, January 31, 2024

PHL, Vietnam ink 5-yr rice supply deal on PBBM visit By Samuel P. Medenilla

@sam_medenilla

HE Philippines signed on Tuesday a five-year rice supply agreement with Vietnam, which will ensure its access to 1.5 million to 2 million metric tons (MT) per year of rice from its Asean neighbor. The Memorandum of Understanding (MOU) on Rice Trade Cooperation between the two countries was finalized during the concluded State Visit of President

Think tank. . . Continued from A1

“Although we expect a seasonal slowdow n in December and January, the upward trend in both the labor participation rate and employment exhibited in H2-2023 [second semester of

Ferdinand R. Marcos Jr. in Vietnam. T he accord prov ides the framework, which guarantees Vietnamese white rice w ill be sold to the Philippine private 2023] should continue in 2024,” FMIC-UA&P Capital Market Research said. The think tank said the 1.8 million additional people employed in November brought to historic lows the total number of unemployed persons and the unemployment rate at 3.6 percent, and would inject much fuel to

sector “at a competitive and affordable price.” Rice trade agreements were also signed between Philippine and Vietnamese state-owned and private companies. Marcos thanked Vietnamese Prime Minister Pham Minh Ching and Vietnamese President Vo Van Thuong for the new partnership, which he said, will help ensure the country’s food security. “I appreciate Viet Nam’s readiness to support the Philippines’s rice requirements. Especially coming from the pandemic, we recognize the importance of food security and sustainable global supply chains,” the President said in his speech in Vietnam’s government headquarters. During the 43rd Association of Southeast Asian Nations (Asean)

Summit in Indonesia in September, Marcos said the MOA will help address future volatility in the rice market. He noted he is looking forward to the completion of the country’s other agriculture-related partnerships with Vietnam including those related to the transfer of technology. T he President pointed out the similar prev ious partnerships have significantly benefited both countries such as the Fisheries Cooperation that was signed in 2010. The cooperation agreement, he said, allowed both countries “to coordinate on policies and exchange information on fisheries, aquaculture, capacity development, post-harvest development, and food safety.”

aggregate demand.

my, the think tank said, especially since this does not yet count the ongoing Public-Private Partnership (PPP) projects on rail, highways/bridges and water. “These and [the] inflation rate slowing to 3.8 percent in 2024 from 6 percent last year should rekindle consumer spending,” FMIC-UA&P Capital Market Research said. “Robust job numbers, slower inf lation and sustained infrastructure spending should power GDP growth in 2024 to 6 percent from an estimated 5.5 percent uptick in 2023,” the think tank also said. Meanwhile, the Philippine peso is expected to appreciate after March 2024 when the Bangko Sentral ng Pilipinas (BSP) is expected to start boosting its dollar reserves. The Philippine peso has been depreciating against the US dollar at above P56 to the dollar for the past six days. The first time it hit the P56 level this year was in January 11, when it closed at P56.286 to the dollar, according to data from the BSP. “The peso, however, will resume its upward trend after Q12024 [first quarter 2024] since the trade deficits will remain elevated and the BSP will more strongly boost its gross international reserves,” the think tank said. FMIC-UA&P Capital Market Research said the peso is expected to trade sideways in January 2024. The peso strengthened by -0.4 percent month-on-month in December. The think tank noted that year-to-date (YTD), the foreign exchange rate appreciated by -1 percent based on end-month rates. T he Au st ra l i a n dol l a r gained the most with its -3.1 percent uptick. “Asian neighbors’ currencies including the Philippine peso appreciated in December, pouncing on US dollar weakness due to falling 10-year US T-bond yields,” the think tank said. “USD-PHP may trade sideways in January but external forces— US interest rates and weighed FX rates—will likely tilt the balance either way,” it added.

NG spending

IN terms of consumption, FMICUA&P Capital Market Research said the national government’s spending, particularly for infrastructure, is expected to average 5 percent. This bodes well for the econo-

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Marcos. . . Continued from A1

countries’ ratification of the Regional Comprehensive Economic Partnership or RCEP to maintain the upward trend in our trade [with Vietnam],” Marcos said. The RCEP is a free trade agreement signed in 2020 by 15 countries including the Philippines and Vietnam. The country’s main imports from Vietnam include cereals; electrical machinery and equipment and parts thereof; iron and steel; salt, sulphur, earths, and stine; plastering materials, lime, and cement; and miscellaneous edible preparations.

Meanwhile, most of the country’s exports to Vietnam are electrical machinery and equipment and parts; copper and articles; nuclear reactors, boilers, machinery and mechanical appliances, and parts; plastics and articles; as well as fertilizers. Imports from Vietnam are expected to further increase under a new five-year rice supply agreement, signed on Tuesday, where the country will be able to import 1.5 million to 2 million metric tons (MT) per year of Vietnamese rice. For its part, Vietnam is interested in tapping the country’s nickel, cobalt, and copper reserves for producing electronic vehicle batteries.

Flat farm. . . Continued from A1

told BusinessMirror. De La Salle University economist Maria Ella Oplas told this newspaper that efforts to prioritize technology investments needed for farming, particularly in harvesting crops such as rice, must be stepped up. She said up to now, harvests are done manually, thus less efficient. Technology investments, said Oplas, are needed for combating pests that destroy crops. “I believe that if the government provide our farmers with access to such technology, we will see more improvement in rice production.” She thinks the government must take strides in reviewing the Agri-Agra law. Oplas said the review should focus on the failure of banks to comply with lending requirements to farmers. Farmers, Oplas said, have not been able to completely access forma credit facilities. Due to this, she said, farmers turn to informal credit sources “which can be very exploitative.” Access to financing is crucial for farmers. Oplas recently went to Pangasinan where she found farmers to be “happy” since the government provided seedlings and cash transfer of P5,000 to them. “Our caretaker who is a rice farmer [said] they earned additional 100 sacks during their last harvest, something that they didn’t enjoy before,” Oplas said. “That means the Marcos administration is serious towards its goal of rejuvenating our agri sector.”

Flat growth

MEANWHILE, PSA said the flat growth was due to the growth in the value of crops, livestock, and poultry production. However, fisheries posted a decline in the value of production. The value of agriculture and fisheries production amounted to P1.763 trillion in 2023 and P493.72 billion in the fourth quarter of last year. Data showed crop production amounted to P1 trillion in 2023 and P290 billion in the fourth quarter of 2023. It posted a growth of 0.7 percent in 2023 and 0.1 percent in the last quarter of last year. In terms of livestock, it amounted to P263.374 billion last year and P72.1 billion in the fourth quarter of 2023. Livestock grew 2.47 percent in 2023 and 2.7 percent in the last quarter of last year. For poultry, the value of production at constant 2018 prices reached P262.028 billion last year and P67.65 billion and the fourth quarter of 2023. PSA data showed crops accounted for 58.7 percent of the total value of production in agriculture and fisheries; livestock, 14.6 percent; poultry, 13.7 percent; and fisheries, 13 percent. Cai U. Ordinario

Mega ecozone. . . Continued from A1

using up 25,000 hectares of the 28,000-hectare property at a penal colony in Iwahig, Palawan. “As we celebrate this momentous signing of our MOU, we look forward to working ASAP on our first Mega ecozone project, making it our fifth public economic Zone under Peza to provide context to our current position,” Panga said. Panga underscored the importance of establishing a mega ecozone, saying this is “ideal for hosting various sectors and entire supply chains, particularly those focused on innovation, d i g it a l t r a n s for m at ion , a nd sustainability.” The Peza chief said emerging industries like electric vehicle production, advanced manufacturing, green ores processing, nano tech, knowledge-based and AI-driven industries, med ic a l-re l ated i ndustries, and blue industries “will find a conduc ive env i ronment within this ecoindustrial township,

allowing us to promote clean and green production and integrate industry 4.0 technologies across supply chains.” Under the said MOU, BuCor has the duty to “prepare and comply with the documentary requirements for the issuance of a presidential proclamation for the establishment and development of the economic zone.” According to the deal between the two agencies, the attached agency to the Department of Justice (DOJ) shall determine and provide an “inventory” of idle BuCor lands that are viable for development into sustainable types of economic zones, such as Agro-Forestry Ecozones, Defense Industrial Complex, and Mineral Processing Ecozone, among others. For Peza’s part, the MOU tasks it to facilitate the registration of identified and proposed lands under BuCor as Peza-registered economic zones. “Peza shall promote the BuCor economic zones as ready locations for foreign and local investors wanting to avail of fiscal and non-fiscal incentives provided to Peza-registered business enterprises under Republic Act No. 7916, as amended by Republic Act No. 11534,” the deal noted. Andrea E. San Juan

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

Wednesday, January 31, 2024

Military affirms ‘non-partisan’ Entrepreneurs told to develop a higher level of awareness stance amid Cha-cha debates on cybersecurity in doing biz By Rex Anthony Naval

HE Armed Forces of the Philippines (AFP) remains a “non-partisan” organization amid unfolding political developments in the country. “The keyword here is the AFP is non-partisan, so we will continue to focus in terms of our mission, which is to end our local terrorist insurgency problem and transition ultimately to territorial defense,” AFP spokesperson Col. Francel Margareth Padilla stressed on Tuesday. When asked to comment on recent reports that former military

generals are issuing a manifesto against the so-called people’s initiative to amend the charter, Padilla said such things are not happening within the AFP. “It’s not happening inside the AFP so we would look into that, and give you more details as soon as we have more data,” Padilla said. She added there is no need for

a “loyalty check” within the ranks of the AFP following Gen. Romeo Brawner Jr.’s assurance that troops remain loyal to the Constitution. “The…Chief of Staff earlier said…there is no need for a loyalty check,” Padilla said.

Heeding ‘Bagong Pilipinas’ call

BRAWNER on Monday said the military would remain professional and loyal to its mandates in line with President Ferdinand R. Marcos Jr.’s call for a “Bagong Pilipinas.” “In our national effort to usher in this vision, the AFP shall remain to be a highly professional military organization, loyal to the Constitution, the Chain-ofCommand, and our People,” the military chief stressed. This as Brawner lauded the Commander-in-Chief for a successful launch of the Bagong Pilipinas

Senate urged to act on House-approved bill on sustainability of govt budget utilization By Jovee Marie N. Dela Cruz @joveemarie

SEN IOR l aw m a ker on Tuesday ca l led on the Senate to act on a Houseapproved measure aimed at enhancing the efficiency and sustainability of government budget utilization. Camarines Sur Rep. LRay Villafuerte said the proposed Green Public Procurement (GPP) Act prioritizes the acquisition of ecofriendly goods and services by government agencies. Villafuerte emphasized that

Senate endorsement of this ecofriendly initiative in the national budget process aligns with the global call for “circular” economies, fostering a commitment to environmentally responsible practices. The bill, which the House of Representatives had passed, aims to allow the Marcos administration to “further promote ecofriendly practices by tasking all offices in the Executive, Legislative, and Judicial branches of government to give priority to the purchase or acquisition of ecologically friendlier goods and

services.” “With public spending comprising almost a quarter of the Philippine national economy— and is likely to increase in the years ahead—all gover nment purchases have an inev itable effect on the market supply of goods and services,” Villafuerte pointed out. Department of Budget and Management (DBM) Secretary Amenah Pangandaman expressed last year that budget reforms, including the GPP initiative, would enhance the efficient use of government agency budgets.

national effort. The AFP chief also said the military will also be the “vanguard” in this call for national transformation. “The AFP shall continue to be united, competent, capable, and non-partisan, steadfast and committed to our mandate of protecting our People and securing our State from all threats, foreign and domestic,” Brawner stressed. He also urged all soldiers, airmen, sailors, and Marines to heed and take to heart the President’s message and become exemplars of what it means to be a “Bagong Pilipino” in a Bagong Pilipinas.” Brawner said this would be done by remaining focused on our mission, true to the tradition of bravery, duty, loyalty, and sacrifice in the noble profession of arms. Recognizing the procurement process as a major bottleneck, Pangandaman sought World Bank assistance for studying, planning, and implementing budget reforms, including the adoption of digitalization and a more sustainable procurement process, through the GPP initiative. Villafuerte’s GPP proposal, consolidated in House Bill (HB) 6468, received unanimous approval w ith a vote of 232- 0 and no abstentions. T he bill, based on HB 1272 introduced by Villafuerte last year, aims to make the government a leader in promoting sustainable practices by incor porating env ironmental, economic, and socia l factors in procurement decisions and processes.

By Rizal Raoul Reyes @brownindio

NTREPRENEURS belonging to the small and medium enterprises (SME) category may still need to develop higher awareness on the importance of cybersecurity to their businesses in an existing environment where interconnectedness has become the norm. “When I speak to owners of SMEs, I often hear the same question, why would anyone want to steal my data, we’re a small business? They often don’t realize that all data has value but also SMEs can be part of a supply chain into a larger business providing an avenue for access to an adversary. A cyber attack against any business can be crippling but for an SME the costs and reputational damage involved can be business ending so it’s time to start looking at cybersecurity as an essential business requirement as opposed to a tick-box exercise,” Daniel Bernard, chief business officer of CrowdStrike explained in an in an email interview with the BusinessMirror. Due to the interconnectedness of the supply chain, Bernard said cyberattacks on SMEs could have a ripple effect throughout the economy. “Therefore, it is critical to strengthen the cybersecurity defenses of SMEs, not just for their own good but to also help prevent potential impact on larger organizations,” he said. Although SMEs are the backbone of Asean nations’ economies, Bernard said the majority the SMEs in the region lack the necessary resources to implement robust cybersecurity measures. While governments can provide guidance, education and regulatory controls to try to support more positive approaches to cybersecurity, the responsibility of protecting an organization lies with an organization itself. Oftentimes, SME owners believe they are less likely to be targeted by a cyber attack. However, a CrowdStrike report found that 70 percent of cyberattacks target small businesses, and 63 percent of small businesses face ransomware and advanced threats. SMEs are particularly vulnerable as many still rely on outdated antivirus tools, but these legacy solutions can’t always keep up with modern attacks that continue to escalate in volume and sophistication. Bernard stressed that local SME entrepreneurs are not alone as global SMEs are also facing similar challenges. He added it is not a country level issue but one of scale and access to modern security solutions, emphasizing that awareness and education of the threats facing the organizations are essential elements to protect the organization.

Dalipe dares Senate to pass RBH 6 to end PI controversy Romualdez clarifies ‘purely advisory’ role with PIRMA T O end the raging people’s initiative (PI) controversy, House leaders on Tuesday challenged the Senate to pass Resolution of Both Houses (RBH) No. 6 filed by Senate President Juan Miguel Zubiri. House Majority Leader Manuel Jose “Mannix” Dalipe’s dare came in response to the Senate’s continuous call for the House to d i scont i nue it s perceived endorsement of the current PI. He emphasized that the PI

should not be viewed as an obstacle. “Let’s approve that (RBH 6), and the people’s initiative will be rendered ineffective... So, what’s the strategy? Let’s pass the Senate’s proposal. Consequently, what will occur with the people’s initiative? It will be thwarted,” he stated. “Pass it now; your version of the Charter change. They should act first. Let’s pass the Resolution of Both Houses of Senator Zubiri so we would not need to

have a plebiscite for the people’s initiative because it is clear in our law that you cannot have two [plebiscites] in the span of five years,” he said. Amid countless accusations against the House of Representatives, Dalipe assured that the proposed amendments to the 1987 Constitution emanating from the House would focus solely on its economic provisions. “Read first what we filed instead of trying to speculate. You

‘Balikatan’ 2024 war drill to focus on quality training

SIDE from being larger than last year’s “Balikatan,” the Armed Forces of the Philippines (AFP) on Tuesday said the 2024 iteration of the annual military exercises between Filipino and American forces will focus more on “quality training.” “We are going to have more

exercises in key positions all over the country aside from quantity we will heavily lean on towards quality training,” AFP spokesperson Col. Francel Margareth Padilla said in an interview in Camp Aguinaldo, Quezon City Tuesday. She added that the 39th iteration of the war games will take

place this coming April. However, Padilla could not give yet the exact number of participants and equipment to be used by both sides as planning is still ongoing. She added that this year’s Balikatan will also be more complex and will feature “non-phys-

can review all the records. Check what we have transmitted to [the Senate],” said Dalipe. Dalipe underscored that it is not a secret that the House has been advocating to update the nearly 37-year-old Constitution. He added that the House pledges its full support for whether the economic provisions of the Constitution would be amended through a PI or the Senate’s version of RBH 6, which calls for a Constituent Assembly. Jovee Marie N. Dela Cruz

ical domains like cyberspace and information warfare,” aside from the traditional kinetic activities involving land, sea, and air. More than 17,000 troops from the Philippines and the United States participated in last year’s Balikatan, which was highlighted by a joint live fire exercise that sank a decommissioned World War II corvette. Rex Anthony Naval

PEAKER Ferdinand Martin G. Romualdez on Tuesday clarified that his involvement in the People’s Initiative for Modernization and Reform Action (PIRMA) has been “purely advisory.” Romualdez issued the statement after the primary convenor of PIRMA acknowledged during Tuesday’s Senate hearing that he collaborated with the Speaker to secure 3 percent of signatures per congressional district for the people’s initiative advocating Charter change (Cha-cha). Romualdez asserted that he is not leading or mobilizing their signature campaign, as the initiative is entirely managed by the group themselves. “I acknowledge that representatives from the People’s Initiative, including Mr. Noel Oñate, have approached me for a meeting. This encounter, held at my townhouse, was in the spirit of open dialogue and understanding of civic actions spearheaded by our citizens,” he said. “Furthermore, I firmly deny any allegations of involvement in unlawful activities such as vote-buying related to this or any other initiative. Such practices are against my principles and the ethical standards of our government,” he added. As Speaker of the House, Romualdez emphasized his commitment to upholding democratic principles and facilitating discussions on matters of national interest.

He also clarified that his role, sometimes misconstrued, is not that of an orchestrator but rather a “facilitator” for healthy democratic processes. “As Speaker of the House, I am committed to upholding the principles of democracy and facilitating discussions on matters of national interest. The meeting with the People’s Initiative representatives was an exercise in this commitment. My role, as misinterpreted by some, is not as an orchestrator but as a facilitator for healthy democratic processes,” he said. “It is crucial to clarify that while I support the spirit of civic engagement and participatory governance, my involvement in the People’s Initiative has been purely advisory and in no way extends to mobilizing or leading their signature campaign. The initiative and its operations are entirely led and managed by the group themselves,” he added. The Speaker also strongly denied any allegations of involvement in unlawful activities, such as vote buying related to this or any other initiative. “I respect the autonomy of the People’s Initiative and commend their efforts to engage in constitutional discourse. However, as the Speaker of the House, my primary role is to steer legislative actions within Congress and ensure that all processes are conducted with integrity, fairness, and in accordance with our laws,” he said. Jovee Marie N. Dela Cruz

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

Economy

Wednesday, January 31, 2024

DOE releases policy framework on utilization of hydrogen fuel By Lenie Lectura

@llectura

HE Department of Energy (DOE) released on Tuesday a policy framework for the utilization of hydrogen in the energy sector.

This move recognizes the potential of hydrogen in the energy transition as an innovation capable of meeting future energy demand with various applications in the power, transportation, commercial, and industrial sectors. “The potential of utilizing hydrogen resources, if optimally developed, will play a major role in improving the country’s energy security by reducing dependence on imported fossil fuels and in achieving the country’s goal for a low-carbon future,” DOE Department Circular No. 2024-01-0001 or the “Hydrogen Energy Guidelines” stated. The hydrogen policy framework is centered in four cornerstones—energy security, environmental sustainability, research and technological development, and access to financing and investments. “This department circular covers all activities related to the establishment, construction, operation, maintenance, decommissioning, and disposal of hydrogen projects or facilities which involve research, development, production, storage, transmission, distribution, and utilization of hydrogen energy resource,” the DOE said. The prospective uses of hydrogen in the energy sector shall be divided into power generation and electricity storage applications and non-power applications. Power generation and electricity storage shall include use of

Provide fishers with bigger boats, Sen. Villar tells BFAR By Jonathan L. Mayuga @jonlmayuga

HE Bureau of Fisheries and Aquatic Resources (BFAR) should stop giving small fishing boats to small fishermen and instead provide them with bigger vessels that would allow them to catch more fish in more areas within the 15-kilometer municipal fishing ground. Interviewed at the sidelines of the Food and Nutrition Summit organized by the Department of the Interior and Local Government (DILG) and Oceana Philippines, Senator Cynthia Villar, chairman of the committee on environment, natural resources and climate change, and the committee on agriculture, food and agrarian reform, said small fishermen could not fish in some areas within the 15-kilometer fishing ground because they are only equipped with small boats. The summit highlighted the importance of enhancing the country’s fisheries production to boost food and nutrition security in the Philippines. “BFAR said the small fishermen could not fish in some areas. This is because their boats are small. BFAR should stop giving small boats. Give them bigger boats to cooperatives where fishermen can work together,” she said. Villar, the keynote speaker of the summit, expressed alarm over reports that aquatic fisheries have overtaken capture fisheries in terms of food production. She said to increase capture fisheries production, the government should protect the country’s fishing grounds, and step up the campaign against plastic pollution. In Manila Bay alone, Villar said 300,000 small fishermen stand to be affected by plastic pollution, which is aggravated by land reclamation activities, even as she maintained her stiff opposition to ongoing reclamation projects in Manila Bay. She said the destructive nature of land reclamation affects the food production capacity of Manila Bay, on top of its potential adverse impact on low-lying communities. Villar expressed her support to the organizers of the event, particularly Oceana, who also opposes land reclamation, as these projects would affect the livelihood of small fishermen. More importantly, for her part, Villar said the projects threaten to cause massive flooding in low-lying areas in Metro Manila, including Las Piñas. “Syempre ang Oceana ayaw din ng reclamation, ako , myself ayaw ko rin ng reclamation like the proposed reclamation in our part of Manila Bay, we have six rivers going out of that Manila Bay. If they reclaim that where will our water go? We will have massive flooding in our communities. Ang prediction ko , 6 meters of flood and 6 meters of flood is [as tall as a] three 3-story building so that is a big problem for us so we are really against reclamation,” the senator explained. At the same time, Villar said there are 300,000 small fishermen in Manila Bay. “If you reclaim Manila Bay, you will be depriving 300,000 fishermen of their livelihood,” she said. As a lawmaker, she authored and helped passed laws to help the fisheries sector, citing Republic Act 10654 or the act to prevent, deter, and eliminate illegal, unreported, and unregulated (IUU) fishing, amending RA 8550 otherwise known as the Philippine Fisheries Code of 1998, and Republic Act 11898 or the Extended Producer Responsibility Act of 2022, which amends Republic Act No. 9903 to institutionalize the extended producer responsibility on plastic packaging waste. Villar said plastic remains a problem and threatens the country’s important food source and livelihood of small fishermen and, subsequently, the food and nutrition needs of Filipinos. She said fish, a source of protein, is important to ensure health and nutrition. “Maganda ang fish kasi mas maganda ang kanilang …in terms of nutrition and less ang cause ng fat and diseases. That’s why we advise fish more than meat,” Villar said. BFAR earlier said the country’s municipal fishing ground is gravely threatened by overfishing by commercial fishing vessels. Villar also criticized the proposal to allow commercial fishing in municipal wasters because small fishermen cannot fish farther away from the shore because their fishing boats are small for the task.

electricity produced from hydrogen energy supplied to the grid or as backup and off-grid power supply, industrial scale energy storage, cofiring with hydrogen derivatives in existing fossil fuel power plants, and hydrogen and its derivatives multigeneration systems.

The DOE also considered a hydrogen storage facility as an energy storage system. As such, a hydrogen storage facility will be referred to as a hydrogen energy storage system (HESS). The DOE defines HESS as a technology that utilizes hydrogen gas to store energy for later use in power

generation. The agency has created a committee to develop a capacity building and research plan for hydrogen development in the energy sector. The circular also called for the creation of a technical working group for the development, adoption, and updating

of the facility standards, safety codes, product quality, environmental standards, waste disposal management, and hydrogen energy certification mechanisms. The circular was signed by DOE Secretary Raphael Lotilla on January 12, 2024.

A6 Wednesday, January 31, 2024

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

SMNI asks CA to stop NTC broadcast suspension order By Joel R. San Juan

@jrsanjuan1573

NCHORS and reporters of Sonshine Media Network International (SMNI) filed a petition before the Supreme Court (SC) Tuesday seeking to immediately enjoin the National Telecommunications Commission (NTC) from implementing its orders suspending the operations of the television network. In a 45-page petition, the petitioners, led by former presidential spokesperson and one of SMNI anchors Harry Roque, specifically questioned the constitutionality of NTC’s December 19, 2023 order imposing a 30-day suspension on the network’s operations and directing it to explain in writing why it should not be sanctioned based on the findings of the House of Representatives Committee on Legislative Franchise with regard to alleged violations of SMNI’s franchise. Based on House Resolution No. 18, SMNI violated the terms and conditions of its franchise, specifically the provision that prohibits the network from using its stations or facilities to propagate false information. It can be recalled that SMNI filed a petition for certiorari with the Court of Appeals (CA) questioning the NTC’s December 19 order but the appellate court dismissed the petition due to technicality as the TV network failed to file a motion for reconsideration first with the NTC. Likewise, the petitioners are assailing the constitutionality of NTC’s January 18, 2024 order directing SMNI to explain why it failed to comply with the 30-day suspension order and extending the

period of suspension of its operations to an indefinite period. The petitioners said the two orders infringe on their fundamental constitutional rights to freedom of expression and of the press. They also questioned NTC ’s jurisdiction to order SMNI’s suspension and to investigate alleged violations of its legislative franchise. “The alleged government interest sought to be protected or enforced by the issuance of the assailed decisions—namely, the ‘adoption of the findings by the House of Representatives’ arising from alleged violations of SMNI’s legislative franchise— is very much related to the suppression of freedom of expression because those alleged ‘violations’ consist of statements and opinions that were expressed in TV programs that were previously broadcast over SMNI’s network,” the petitioners pointed out. The petitioners claimed that SMNI’s suspension serves as both subsequent punishment for statements that were previously made in its programs, such as “Laban Kasama Ang Bayan” hosted by Lorraine Badoy and Jeffrey Celiz, who were both detained at the Batasan Complex for more than one week for their statements against the House; and prior restraint for programs, such as Pulso ng Bayan hosted by Roque and the other news and current affairs programs hosted by the other petitioners. “Regardless of any purported objective, if the effect is to shut down the broadcast operations of SMNI—thereby also shutting down the petitioners’ news and current affairs programs—the assailed orders must be scrutinized with a heavy presumption of unconstitutionality,” the petitioners said.

“This presumption of unconstitutionality could only be overcome if the respondents are able to demonstrate that there is a clear and present danger sought to be prevented,” they added. However, the petitioners said there is no clear and present danger that would justify the curtailment of the petitioners’ right to freedom of expression and of the press. The petitioners added that the NTC has no jurisdiction to scrutinize the comments aired in SMNI’s TV programs as these are considered privileged. They cited Article III, Section 4 of the Constitution which states: “No law shall be passed abridging the freedom of speech, of expression, or of the press, or the right of the people peaceably to assemble and petition the government for redress of grievances.” Taking into consideration the said provision as well as the Court’s previous ruling in Chavez vs. Gonzales case, the petitioners argued that “the only acceptable forms of subsequent punishment are those found in laws punishing scandalous or obscene matter, seditious or disloyal writings, and libelous or insulting words.” “The comments made in TV programs aired over SMNI’s network are none of these. And even assuming that those comments may be considered as scandalous or obscene, seditious or disloyal, or libelous or insulting, due process of law in the form of a court trial must still be observed in order that the persons who uttered them may be held liable for their crimes,” they stressed. “The respondent NTC, not being a court, has no authority to pass judgment and to mete any penalty on SMNI or the petitioners for the things that they said,” they added.

The petitioners added that the NTC does not have the power to revoke the right to operation of any holder of a legislative franchise based on the SC ruling in the Santiago Divinagracia case. A reading of Section 15 of Executive Order No. 546, which outlines the powers and functions of the NTC, according to the petitioners, would show no provision granting any authority to inquire into or scrutinize alleged violation by any broadcast operator of its legislative franchise. “It is clear from Section 15 that the respondent NTC’s authority is confined to the regulation, supervision, and inspection of the technical aspects of the operations of communications utilities and services, radio and television broadcasting systems, and other similar public utilities,” the petitioners argued. They noted that NTC’s power to regulate, inspect, and supervise broadcast entities should relate only to its issuance of a Certificate of Public Convenience (CPC), Provisional Authority (PA), or Certificate of Authority (CA), and other permits or licenses. “The respondent NTC cannot expand its power into the realm of legislative franchises, which is already beyond its jurisdiction,” the petition read. The petitioners further stressed that aside from Executive Order No. 546, under Republic Act No. 7925 or the Public Telecommunications Policy Act, NTC has no authority to investigate, inquire into, or impose penalties for alleged violations of a telecommunications entity’s legislative franchise. While the case is pending, SMNI asked SC to issue a temporary restraining order against the implementation of the assailed NTC orders.

BCDA slates Feb bidding of P4.24-B PAF housing project in New Clark City By Andrea E. San Juan @andreasanjuan

HE Bases Conversion and Development Authority (BCDA) on Tuesday said it is eyeing to launch by second week of February the bidding for the first phase of a P4.24 billion project that will transfer the Philippine Air Force’s (PAF) housing facilities from the Air Force City in Clark Freeport Zone, Pampanga to an 85-hectare property in New Clark City (NCC) in Tarlac. In a statement, BCDA President and CEO Joshua M. Bingcang said the staterun firm will launch next month the

bidding for the first phase of the project, which will involve site development works and construction management services estimated to cost around P742 million. BCDA said this project is in line with the memorandum of agreement (MOA) signed by the Department of National Defense (DND) and BCDA back in August 2019 to facilitate the transfer of PAF’s billeting facilities to the 85-hectare property in Clark City, as well as its operational facilities to another 147-hectare area within the Omni Aviation near the Clark International Airport (CRK). Bingcang said the state-run firm is now “ready to commence” the

relocation of PAF’s housing and operational facilities. Once completed, he noted that the project would allow BCDA to provide “modern and world-class facilities for the Air Force and, at the same time, free up 300 hectares of prime property in the middle of Clark’s commercial area.” Further, the BCDA chief said this will open up the area for more developments, including the proposed Clark Central Business District (CBD), a 100-hectare mixed-use commercial and lifestyle hub, and the second runway as part of the CRK terminal expansion. “The transfer of PAF’s facilities is just the first step to unlocking more

opportunities in Clark. We believe that Clark still has so much to offer, and we are committed to bring out its full potential for the benefit of the people of Pampanga and nearby provinces,” Bingcang said. After site development, the state-run firm said it would proceed with the second phase, which will cover the construction of PAF’s housing and support facilities amounting to P3.5 billion. “We at the BCDA value the military as one of our most important stakeholders. As such, we always ensure that the new facilities we construct are designed to address the needs of our soldiers, and are completed at the highest possible standards,” Bingcang said.

Rep. Erwin Tulfo emerges as top senatorial candidate in 2025 elections—WR Numero

CT-CIS Rep. Erwin Tulfo led the list of senatorial candidates’ preferred most by Filipinos for the 2025 midterm elections, public opinion research firm WR Numero reported. In its inaugural Philippine Public Opinion Monitor (The Opinion Monitor), WR Numero found that nearly 60 percent of Filipinos would vote for Tulfo if the 2025 midterm elections were held last December 2023. For mer president Rodr igo Duterte and former Senate president Vicente “Tito” Sotto III ranked second and third at 54 percent and 45 percent, respectively. They were followed by Senators Imee Marcos (41 percent), and Ronald “Bato” Dela Rosa (40 percent), who were tied at the fourth and fifth place. Senator Ramon “Bong” Revilla Jr. (35 percent), Senator Pia Cayetano (35 percent), former senator Manny Pacquiao (34 percent), and Senator Christopher “Bong” Go (33 percent) were all tied at ranks sixth to ninth. Results also showed former senator Panfilo “Ping” Lacson (30 percent), and Davao City Rep. Paolo “Pulong” Duterte (27 percent), landing in the top 12 after placing 10th to 11th in the survey. Also among those that could

Sen. Go bats for construction of more SHCs in Iloilo visit

ENATOR Christopher “Bong” Go, chairperson of the Senate Committee on Health and Demography, continues to help bring essential public health services closer to Filipinos by establishing more Super Health Centers (SHC). Go highlighted his commitment to work for Filipinos in his speech during the site inspection of a SHC in Barangay Balabag, Pavia, Iloilo, on Sunday, January 29. Go also underscored his efforts to bridging the gap between healthcare and grassroots communities through SHCs, thus alleviating the difficulty of extensive travel to hospitals just to access primary health services. Super Health Centers are strategically designed to emphasize delivering primary care, offering consultations, and enhancing the early detection of diseases at the grassroots to bolster the health-care sector with a particular emphasis on rural communities. SHCs offer essential health services, including database management, outpatient care, birthing, isolation,

Witnesses confirm bribery, deceit in ‘PI’ drive He was referring to the clear provision of the Charter that the PI may only be resorted to for purposes of amendments to the Constitution, but not a revision or major change in the basic law. Senate President Juan Miguel Zubiri had also announced the Senate was still determined to file “the necessary legal case” challenging the ongoing signature campaign even though the Commission on Elections had issued an en banc resolution on Monday suspending all proceedings related to the PI. Noted election lawyer Romulo Macalintal, who signaled he too would file a legal challenge to the PI, hailed the Comelec move: “I am very happy that the Comelec has practically heeded my call or agreed with me that the Comelec’s act of accepting or receiving signature sheets for plans to amend the constitution through initiative should be stopped.” “It is indeed a very commendable action of the Comelec. It serves as a notice to all concerned that the poll body is sensitive to people’s position on this equally sensitive and serious issue,” Macalintal said. “From the very beginning, it has been my position that receiving these signature sheets is very premature because the rules pertaining to the conduct of initiative cannot be filed ahead of the petition. “Since Comelec admitted that no petition has yet been filed for any initiative, then it is very clear that the act of receiving these

potentially win a senatorial seat are former senator Francisco “Kiko” Pangilinan (26 percent), former vice president Leni Robredo (24 percent), Doc Willie Ong (24 percent), Willie Revillame (23 percent), Senator Lito Lapid (23 percent), and Makati Mayor Abigail “Abby” Binay (23 percent), who ranked 12th to 17th. The respondents were asked to identify their top 12 candidates among a list of options, provided in random order for each respondent. Tulfo emerged as the top choice of voters identifying as opposition supporters (53 percent), independent (69 percent), and unsure (63 percent). He, however, placed second to former president Duterte who was the preferred senatorial candidate of administration supporters at 56 percent. Former president Duterte is the top choice of administration supporters at 56 percent, followed by Tulfo (53 percent) and Marcos (50 percent). Tulfo is also the preferred candidate of both first time voters (65 percent) and likely voters (58 percent), while Duterte led those who were registered non-participating voters (69 percent) and unregistered eligible voters (60 percent).

signature sheets is premature and will not serve any useful purpose. It will only be a waste of time of the Comelec and waste of paper since the poll body cannot acquire jurisdiction thereof in the absence of any formal petition,” added Macalintal. For its part, Comelec said, in issuing its en banc January 29 resolution suspending all actions and processes related to PI, that it was meant to give them time to review the status of the law, given earlier Supreme Court rulings on the people’s initiative law, and Comelec’s previous resolutions. Noting that, “It’s very clear [from the testimonies heard by senators] that many of those who signed were deceived and misled,” Senator Marcos asked Comelec Chairman George Garcia whether the poll body will “include in your review of [Comelec] rules” the guidance on what to do in cases where a signatory was bribed or misled? Garcia replied in the affirmative.

Report irregularities—watchdog

ELECTION watchdog Legal Network for Truthful Elections (LENTE) called on the public to report irregularities related to the People’s Initiative (PI). This after Comelec said proponents of the PI may continue getting signatures even after the poll body already suspended accepting their signature sheets last Monday. LENTE said it has partnered with Caritas

di a g nostic ( l ab orator y : X-ray, ultrasound), pharmacy, and ambulatory surgical unit. Other available services in SHCs are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine. Through the collective efforts of the DOH led by Secretary Teodoro Herbosa, local government units (LGU), and fellow lawmakers, sufficient funds have been allocated under the DOH for the construction of 307 SHCs in 2022, 322 in 2023, and 132 in 2024. As the lead implementing agency, DOH identifies the strategic areas where these SHCs will be established. There are 27 SHCs funded for construction in Iloilo province. Go also made it a point to acknowledge the presence and contributions of local officials, national agency representatives, and uniformed personnel. The senator thanked Rep. Michael Gorriceta, Mayor Laurence Gorriceta, and Vice Mayor Edsel Gerochi for welcoming him and for their commitment to the community.

Continued from A16

Philippines of Catholic Bishops’ Conference of the Philippines (CBCP) Social Action Ministry to document reports of supposed use of government emergency employment and cash aid benefits in exchange for signing the PI for the amendment of the 1987 Constitution. “In order to report incidents where social benefits, money or others were promised in exchange for his signature, you can go to our website and report the incident at this link: https://www.lente.org .ph/report#reportform,” LENTE said in Filipino in a statement. It noted the reports may also be through the Facebook Page of LENTE Philippines (https://www.facebook.com/lentephilippines/) or through a Kobo Form (https:// ee.kobotoolbox.org/x/WOnEjPvf). The incident reports will then be validated by LENTE and CBCP to ensure the outcome of the PI will reflect the genuine sentiment of the public. “As an election monitoring organization part of our mandate is to monitor the election process, plebiscite, people’s initiative, and other types of electoral exercises,” Lente said. In a television interview last Tuesday, Comelec spokesperson John Rex C. Laudiangco said there is no existing restriction for PI proponents to collect signatures. “We are not preventing the gathering of signatures by its proponents. However, we won’t be accepting or counting the signatures if they will be submitted to us,” he said.

A BusinessMirror Special Feature

Philippine 20th Quill Awards

Makati Medical Center Excels at the 20th Philippine Quill Awards

Wednesday, January 31, 2024 A7

www.businessmirror.com.ph

20 YEARS OF SHAPING COMMUNICATION EXCELLENCE: THE PHILIPPINE QUILL AWARDS

From left to right: Shairah Lyneth M. Nabong, Communications & Special Projects Officer, MakatiMed; Carlos Marcillus G. Funelas, Unit Head, Communications & Special Projects, MakatiMed; Arlyn L. Songco, Senior Vice President & Division Head, Creative, Communications & Sales Services, MakatiMed; Micaella Noreen A. Ocampo, Communications & Publicity Officer, MakatiMed and Olivia D. Oraye, Quality Management Program Officer, MakatiMed.

By Candy P. Dalizon

ELEBRATING excellence in communication, the International Association of Business Communicators (IABC) Philippines recognized 334 outstanding communication projects at the recently concluded 20th Philippine Quill and 10th Philippine Student Quill Awards held at the Marriott Grand Ballroom. Bagging top awards and backto-back wins were PLDT-Smart for Company of the Year, PAGEONE for Agency of the Year, and De La SalleCollege of St. Benilde (DLS-CSB) for School of the Year. This year’s Quills received more than 800 entries in the professional and student editions, from the areas of communication management, communication research, communication training, education, and communication skills, covering the period from August 2021 to December 2022. Runners-up for Company of the Year were Manila Electric Co. (Meralco) and SM Foundation, Inc., and Comm&Sense and DDB Philippines, Inc., for Agency of the Year. For School of the Year, the other top contenders were University of Santo Tomas (UST) and Colegio de San Juan de Letran.

Professionals group

FOR the professionals group, top awards were given to Light Rail Manila Corporation’s “LRMC building a foundation for learning and literacy thru Binhi Partnership” for Communication Management; CARBONDIGITAL, INC’s “RCEF Seed Program Social Media Campaign for 2021” for Communication Research, and Bank of the Philippine Island’s “Going viral? Do it yourself” for the Communication Skills division. For the students group, DLSCSB’s “Horizons: Apophenia” emerged victorious for the Communication Skills division. For nearly two decades, the Philippine Quill has been the gold standard for business communication in the Philippines, recognizing organizations and corporations that wield words with impact, driving success, and shaping a better society. The Philippine Quill and the Philippine Student Quill honor exemplary communication research, programs, skills, and creative work. Entries are meticulously evaluated using IABC’s highest global standard, discerning the finest and brightest professionals and students in the competitive world of business communication. Entries with a total average score of 5.25 to 5.74 win an Award of Merit while those with a total average score of 5.75 and higher will receive an Award of Excellence. The Philippine Quill Awards is the local execution of IABC’s Gold Quill international awards and Silver Quill regional awards.

Company of the Year

PLDT and Smart Communications, Inc. brought home 14 Excellence and 13 Merit awards, including back-to-

back Company of the Year citations. The Company of the Year award is given to the organization with the most pioneering initiatives that are not only aligned with business objectives but also leave a legacy of positive change. The company received recognition for its programs and tools in the areas of brand and corporate communication, cybersecurity and data privacy, disaster resilience, diversity and inclusion, digital wellness and online child safety, education, employee engagement, and sustainability. The company received awards for the following programs — PLDT & Smart Mind Your Health Program, PLDT & Smart Pamana Service Awards, PH Digicon 2022: Boundless, PLDT Home’s #DoItBetter at Home, Better Today for Kids, Buy Local, Buy Smart: E-newsletter Campaign, and Project MOSAIC (Movement on Safeguarding And Internet safety of Children), among others. In 2022, PLDT and Smart hauled a total of 23 Excellence and 30 Merit citations, and the honor of being last year’s Company of the Year awardee.

Top winner

FIRST runner-up Meralco emerged as one of the top winners at the 20th Philippine Quill Awards with a total of 28 Excellence and Merit awards. Meralco’s communication programs that centered on sustainability, corporate social responsibility, innovation, and public service garnered welldeserved recognition. Among these programs were Meralco Innovation Awards and MERALCO Rescue: Building a Brand of Community Service and Resiliency for Communication Management; The New Meralco Bill: Giving More Power to the Customers We Serve for Communication Research, and The Spark in You - The 2022 MVP Academic Achievement Awards Virtual Ceremony for Communication Skills. Another runner-up, the social good arm of the SM Group, SM Foundation Inc. (SMFI), received eight accolades showcasing the organization's excellence in communication and commitment to social development. These include Revitalizing the SM Foundation Brand: Embracing the Joy of Social Good, Inclusivity, and Engagement and SM Foundation: Spreading Social Good to Inspire and Strengthen a Nation for Communication Management; SM Foundation: #SpreadingSocialGood Stories Online and SM Foundation Primer: Sharing Stories and Rallying Partners for Social Good for Communication Skills, among others. Each SMFI project that was recognized represented a significant contribution to the fields of cause marketing, community relations, corporate social responsibility, audio/visual communication, social media, and publications.

Agency of the Year

AN integrated marketing communications and PR company, PAGEONE Group, soared above the competition, claiming its third consecutive

Agency of the Year title at the esteemed Philippine Quill Awards. The agency, along with its roster of clients, brought home a total of 28 trophies – 15 Awards of Merit and 13 Awards of Excellence including a top award finalist citation in the Communication Skills division. Adding to the agency's success, one of its clients, SM Foundation, landed an impressive 2nd runner-up in the much-coveted Company of the Year category, following its impressive haul of merit and excellence awards. The Philippine Quill Awards likewise recognized the best campaigns of the agency’s clients namely, Nestlé Philippines, GSK Philippines, STI Education Services Group, Inc., and energy firm, Raslag Corporation.

AKATI Medical Center (MakatiMed) received two distinctions under different categories at the 20th Philippine Quill Awards held at Marriott Grand Ballroom Newport City, Pasay City on January 23, 2024. MakatiMed’s Shining Star Awards Program is among the list of winners under the Communication Management Division - Employee Engagement Category. This monthly incentive initiative recognizes commendable staff contributions, fostering a culture of excellence through Patient Satisfaction Survey Forms, emails, social media, and SMS.

A Quill Award under Communication Skills Division – Publications category was also honored to MakatiMed’s 2021 Annual Report, Steadfast Beyond the Norm. The 2021 report has displayed MakatiMed’s unwavering commitment to providing quality healthcare during the evolving “normal,” acknowledging healthcare workers for their dedication during the pandemic. This recognition at the Philippine Quill Awards underscores MakatiMed’s excellence in communication programs. The hospital’s entries underwent rigorous evaluation based on International Association of Business Communicators (IABC) global standards,

competing against a recordbreaking 800 submissions. The Philippine Quill Awards by the International Association of Business Communicators (IABC) is renowned for honoring exemplary communication research and creative work, emphasizing the impactful use of communication to achieve business goals and make a positive societal difference. As a recipient of Philippine Quill Awards for consecutive years, MakatiMed reinforces its commitment to compassionate care and service excellence, providing valuable programs and informative materials for the betterment of its community.

School of the Year

DE La Salle-College of Saint Benilde continues to set the standard for student communication excellence, bagging the coveted "School of the Year" title for the second year running at the 10th Philippine Student Quill Awards. DLS-CSB brought home 16 Merit Awards and six Excellence Awards featuring entries from the Student Publications Unit’s two organizations, namely the Benildean Press Corps (BPC), the official student-journalists’ organization of the College, and Ad Astra, the sole organization responsible for producing Benilde’s official yearbook. The College also received the Top Award for Communication Skills for BPC’s official art and design folio, “Horizons: Apophenia.” The University of Santo Tomas placed 2nd for School of the Year, reaping three Excellence Awards and 16 Merit Awards, followed by Colegio de San Juan de Letran, with a total of 15 awards.

Other awardees

ALSO at the prestigious 20th Philippine Quill Awards, Megaworld Lifestyle Malls reigned supreme, garnering seven awards in multiple categories. These awards include Eastwood City love & paw-er: Pet blessing 2022, Festive Walk Iloilo launches the first K-town in Iloilo and Western Visayas, McKinley Whisky Park, and Newport Mall-seum: Championing and bringing Filipino artistry closer to the mall-going public, among others. ABS-CBN took home three Awards of Excellence for its innovative online fundraiser for Typhoon Odette survivors “TulongTulong sa Pag-ahon: Isang Daan sa Pagtutulungan,”and impactful internal safety campaigns during the pandemic. Manila Water’s “Project Phoenix: Manila Water’s Transformation Journey Towards Becoming a Global Filipino Water Company'' was given the Award of Excellence in Communication Management, under the Change Management category. Also, Manila Water’s “UNWAVERING: 25 Years of Exceptional Service” Coffee Table Book and Manila Water Foundation’s #SAFEWASH in Schools were given the Award of Merit in Communication Skills.

From left to right: Shairah Lyneth M. Nabong, Communications & Special Projects Officer, MakatiMed; Olivia D. Oraye, Quality Management Program Officer, MakatiMed; Arlyn L. Songco, Senior Vice President & Division Head, Creative, Communications & Sales Services; MakatiMed and Carlos Marcillus G. Funelas, Unit Head, Communications & Special Projects, MakatiMed.

From left to right: Micaella Noreen A. Ocampo, Communications & Publicity Officer, MakatiMed; Arlyn L. Songco, Senior Vice President & Division Head, Creative, Communications & Sales Services, MakatiMed and Carlos Marcillus G. Funelas, Unit Head, Communications & Special Projects, MakatiMed.

BusinessMirror

Wednesday, January 31, 2024

A6 A8

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

66 GLOBAL SOLUTIONS INC. 5/f 6/f 7/f And 10/f Ssk Building, Block 7 Lot 5 Kennedy Road Cor. Mindanao Avenue, Don Galo, City Of Parañaque CHEN, MIN-JU IT Technical Mandarin 1.

Brief Job Description: Oversee all support and clerical work within a company.

LIANG, ZHIWEI IT Technical Mandarin 2.

Brief Job Description: Oversee all support and clerical work within a company.

LIN, JYUN-CHENG IT Technical Mandarin 3.

Brief Job Description: Oversee all support and clerical work within a company.

Basic Qualification: Excellent communication skills, both verbal and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication skills, both verbal and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication skills, both verbal and written.

Brief Job Description: Communicate with the client functional design incharge about the detail of requirement definition and function design, explain development status and issue with team leads of the client, understand the clients’ original develop/runtime architecture and develop standards (including deliverable flow, template, description level) and perform knowledge transfer about business requirement/functional design written in required language to team lead and members.

Basic Qualification: Bachelor’s Degree in Information Technology, Computer Science or other relevant fields; must be able to communicate effectively, verbally and written, in both English language and required language, experienced in any of the following: o java (java ee, java se, spring, nodejs) o javascript o sap o .Net o cobol o angular, knowledgeable in back-end programming language/ framework and willing to work on holidays, weekends, shifting schedules and extended working hours. Salary Range: Php 30,000 - Php 59,999

HAYASHI, NAOKI Program & Project Mgmt Manager

Brief Job Description: Responsible for identifying, developing, and helping sales teams with complex products. Supports the sales efforts of team peers and other direct sellers by leveraging product, industry, and/or technology expertise. Collaborate with product and sales to solve the strategic business needs for their end customers. Identification of vender/partner, solution design as per customer requirements. Negotiate with vendors to fulfill solution and acquire quotes for services. Draft and negotiate statement of work with vendors. Provide input and participate in proposal content, customer orals, and responding to customer Q&A.

LEE, SUNHEE Customer Experience Associate 8.

Basic Qualification: 8 to 12 years work experience and 5 to 10 years managerial experience. No domain required, pmo profile, capm, pmpa - telco background is good to have. Sound knowledge of telecom enterprise products- technical and financial. Excellent knowledge of telecom and its processes. Flexible to adapt processes and system rules to drive business outcomes. Sound Excel and PowerPoint skills. Ability to individually solve problems using analytical tools and identify practical actions to do so. Excellent overall and written communication skills and ability to participate in proposal content, customer orals and responding to customer queries.

LEE, WOOMIN Logistics Manager 9.

Brief Job Description: Manage the day-to-day workflow of the logistics facility.

KANG, JUNG KWON Avocado & Diversified Manager 10.

Brief Job Description: Coordinate weekly avocado/papaya shipments under new Supply Agreement between suppliers and all Fresh Produce Group sales entities.

QIU, ZAIHAN Corporate Planning Director (Sales & Marketing) 11.

Brief Job Description: Oversee programs to strengthen the marketing and sales strategies of the Fresh Produce Group throughout Asia. Ensure excellence in implementation of the marketing and sales strategies for each of the markets of the Fresh Produce Group.

MICHISHITA, YOSUKE Director, Distribution And Logistic

12.

Brief Job Description: Strategically allocate fresh fruits among Asian markets to meet market demands while maximizing profitability. Manage and coordinate fresh fruit specifications, harvesting, and packing plans to bridge the gap between market requirements and production capabilities.

USUI, SUMIRE Distribution Manager 13.

Basic Qualification: At least 2 years College or Senior High School graduate, minimum of 6 months BPO experience and fluent in English and Korean languages.

Brief Job Description: Allocating banana, pineapples, and other fresh fruits volume to the Asia markets by analysing market demand, profitability, and the production situation.

DE FREITAS GUSMAO, SAMARA LUIZA Foreign Language Customer Service Representative 14.

Brief Job Description: Maintain customer records by updating account information. TRAN MINH PHUC Vietnamese Speaking Customer Service Representative

Basic Qualification: At least College graduate.

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

OH WANG KING Mandarin Customer Service Representative 16.

AVANTICE CORPORATION 19/f Pbcom Tower, Ayala Ave., Bel-air, City Of Makati

Basic Qualification: Bachelors’ degree with 10 to 15 of experience in food or agricultural industry, and at least 5 years in fresh produce segment. Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Bachelor’s degree in Business, Supply Chain Management, or a related field. Minimum working experience of 15-20 years (in the area of fresh produce supply chain).

Brief Job Description: Initiates and process customer verification.

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

CONDUENT BUSINESS SERVICES PHILIPPINES, INC. 7f One E-com Building, Palm Coast Avenue, Mall Of Asia Complex, Pasay City

19.

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

Basic Qualification: Excellent in foreign language.

CAPDEVILA GRAU, JAUME Business Consulting Partner 20.

Brief Job Description: Provides customer service support to the organization by obtaining, analyzing and verifying the accuracy of order information in a timely manner.

WANG, GUOYU Mandarin Customer Service Representative 17.

Brief Job Description: Provides customer service support to the organization by obtaining, analyzing and verifying the accuracy of order information in a timely manner.

Basic Qualification: College Graduate. Computer Proficiency. Fluent in Mandarin, Cantonese and Taiwanese languages. Excellent interpersonal and communications skills. At least 1 year experience related to the job applying for. Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Preferably graduated with a bachelor’s degree in communication systems and countermeasures technologies or other related discipline. With Masteral degree is an advantage. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Responsible for the management of the unit’s portfolio development and team structure, portfolio development, management and organizational strategic planning to achieve success and create value for stakeholders.

Basic Qualification: 20 plus years of business consulting experience in successful business strategy and project delivery services, preferably with extensive experience, expertise and knowledge from Spain, superb communication and presentation skills both in Spanish and English languages.

INNOVATORS MEDIA MARKETERS INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati CHUA YI HAO Mandarin Marketing Specialist 21.

Brief Job Description: Utilize marketing sales tools to help track, manage and properly distribute each individual lead. HUANG, SHIYOU Mandarin Marketing Supervisor

22.

Brief Job Description: Utilize marketing sales tools to help track, manage and properly distribute each individual lead.

Basic Qualification: Excellent in Mandarin language. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Excellent in Mandarin language. Salary Range: Php 60,000 - Php 89,999

KEEN PEAK CORPORATION Unit 4e007002, 7/f East Tower, Four E-com Center, Mall Of Asia Complex, District 1, Barangay 76, Pasay City ZHANG, KONGMING Technical Specialist 23.

Brief Job Description: Manage and repair the machineries imported from Taiwan, monitor the operation of all machineries to make sure all things are in perfect running condition.

ZHOU, XIANFEI Technical Specialist 24.

Brief Job Description: Manage and repair the machineries imported from Taiwan, monitor the operation of all machineries to make sure all things are in perfect running condition.

Basic Qualification: College graduate. With at least 7 years of work experience in a related field. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. With at least 7 years of work experience in a related field. Salary Range: Php 30,000 - Php 59,999

MEGA INTERNATIONAL COMMERCIAL BANK CO. LTD. 3 Pacific Star Bldg., Sen. Gil J. Puyat Ave. Cor. Makati Ave., Bel-air, City Of Makati

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

Basic Qualification: Must have a minimum of 3 years of work experience in account management and event organizing for IT products.

Salary Range: Php 500,000 and above

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

Basic Qualification: Proficient in speaking in Vietnamese language.

Brief Job Description: Build Huawei’s PV sales network in the Philippines. Work with local partners to provide household and industrial inverters and energy storage.

QUALIFICATION AND SALARY RANGE

INDRA PHILIPPINES, INC. 11/f & 12/f, Tower 1, Rockwell Business Center, Ortigas Avenue, Ugong, City Of Pasig

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Degree in Supply Chain Management, Business Studies, or related courses. Minimum working experience of 6-10 years (in the area of fresh produce supply chain).

Brief Job Description: Understand customer requirements and convey the selling points of the company’s solutions. Assist in contract clause improvement, dispute resolution and other project transaction activities.

XIAO, XIAOJUN Partner & Ecosystem Development Manager For Philippine Photovoltaic Project

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

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

SURYANI Client Back Office Risk Executive

18.

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

Basic Qualification: Bachelor’s degree in Business Studies or Supply Chain Management. Minimum working experience of 5-8 years in strategy and fresh produce/fruit business.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TAN, NING Account Manager For Globe Department

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

GOODYIELDS SERVICES INC. Unit Ug-08 Ug/f Cityland 10 Tower 2, 154 H.v. Dela Costa Cor. Valero Sts., Bel-air, City Of Makati

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

Basic Qualification: Must be Native Indonesian/ Vietnamese/ Singaporean/Korean/ Japanese/Malaysian/ Taiwanese/Indian / Cambodian/Thai/Chinese and fluent in English and their respective native language. With at least a year experience in similar field.

No.

EASYTECH SUPPORT INC. 9-11/f, 14/f Capella Bldg., Asean Drive Filinvest, Alabang, City Of Muntinlupa

15.

Brief Job Description: Supply Chain Managers are responsible for overseeing and managing company’s overall supply chain and logistics strategy and operations in order to maximize the process efficiency and productivity. In addition, they play a crucial role in developing and maintaining good relationships with vendors and distributors.

QUALIFICATION AND SALARY RANGE

DOLE ASIA COMPANY, LTD. Unit 701, 7f Ayala Triangle Tower 2, Paseo De Roxas Cor., Bel-air, City Of Makati

AM-PRO IMPORTS MARKETING CORP. 16e Residenza Suites, 429 Shaw Blvd., Addition Hills, City Of Mandaluyong Basic Qualification: Strong organizational and management skills including problem-solving, representational skills, and excellent verbal and written skills. Selfmotivated and creative.

ESTABLISHMENT / ADDRESS

CONGRATS 2U INC. Level 6, Ayala Triangle Gardens, Tower 2 Paseo De Roxas Cor. Makati Ave, Bel-air, City Of Makati

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

WANG, JIAQI Supply Chain Manager

Brief Job Description: Assesses calls to provide service immediately, be transferred, or require follow-up for client resolutions.

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

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

JUNG, YOUNGCHAN App/Cloud Support Senior Analyst

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

LIU, CHIH-HSUAN Manager 25.

Brief Job Description: Assist in the supervision of General Affairs Division. Assist in the IT related matters of the Bank. Prepare various head office reports and attend into other matters as may be assigned.

Basic Qualification: College graduate. With at least 5 years of managerial experience in the Banking industry. With excellent verbal and communication skills, particularly in Chinese-Mandarin and English languages. Salary Range: Php 90,000 - Php 149,999

MELCO RESORTS LEISURE (PHP) CORPORATION City Of Dreams Manila, Aseana Ave. Cor. Roxas Blvd., Tambo, City Of Parañaque

LEE CHIA LOK Sous Chef, Chinese 26.

Brief Job Description: Assist the chef de cuisine to manage and lead the designated culinary team in producing the finest culinary experiences and control all aspects of the respective kitchen.

Basic Qualification: College diploma or equivalent professional training, at least 5 years’ working experience in the restaurant/hotel/ casino industry, computer literate (MS office), and knowledgeable in SWS system. Salary Range: Php 90,000 - Php 149,999

NEO TERRA SERVICE CORP. 2/f Filipino Bldg., 135 Dela Rosa Cor. Legaspi And Bolanos Sts., San Lorenzo, City Of Makati

LIN, YU-SHAN Mandarin Speaking Admin Specialist 27.

Brief Job Description: Takes various task within the organization to ensure the effective day-to-day operations of the company.

Basic Qualification: College graduate. With at least 6 months of workrelated experience. With good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHAO, MIN-FENG Mandarin Speaking Technical Support Specialist

28.

Brief Job Description: Responsible for addressing software and hardware issues. Balance tech expertise with analytical thinking to locate and diagnose problems and recommend the best course of action to be taken.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate. With at least 6 months of workrelated experience. With good verbal and written communication skills.

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SRINOOT, TACHPOL IT Service Desk 40.

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

Brief Job Description: Provide IT infrastructure support and service to all users as well as provide technical assistance for the team. Identify technical risk and discusses issues with leaders of the company for contingency.

NEPC POWER CONSTRUCTION CORP. 15/f Cyber One Bldg., Eastwood Cyberpark City, Bagumbayan, Quezon City

CHEN, JIAHAO Mandarin Electrical Commissioning Analyst 29.

Brief Job Description: The Mandarin electrical commissioning analyst will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

LI, MINGWEI Mandarin Quality Analyst Inspection Specialist 30.

Basic Qualification: Proven experience as Mandarin electrical commissioning analyst, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as Mandarin electrical commissioning analyst, excellent communication, interpersonal and presentation skills.

31.

32.

33.

34.

35.

36.

37.

Brief Job Description: Customer support and database services.

DU, GUOTAO Chinese Customer Service Brief Job Description: Customer support and database services.

LI, KAI Chinese Customer Service Brief Job Description: Customer support and data base services.

WU, WANGSHENG Chinese Customer Service Brief Job Description: Customer support and data base services.

ZHANG, GUOQUAN Chinese Customer Service Brief Job Description: Customer support and database services.

INDRA ASRIAL Indonesian Customer Service Brief Job Description: Customer support and database services.

PHAM, VAN BAO Vietnamese Customer Service Brief Job Description: Customer support and database services.

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

42.

43.

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

44.

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

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

Brief Job Description: Analyze financial data including expenditure reports, revenue data and employee reports.

WU, TIANCONG Mandarin Speaking Consultant 45.

Brief Job Description: Identifying addressing problems. Collecting and interpreting relevant information and data.

ZHOU, TIANLONG Resource Planning Manager 46.

Brief Job Description: Providing project managers with outgoing resource management and related support.

WANG, YINA Mandarin System And Support Specialist 47.

Brief Job Description: Process Mandarin interactive software in terms of developing and upgrading its systematic function.

38.

Brief Job Description: Customer engagement.

Basic Qualification: Bachelor’s degree holder, excellent communication skills and technical expertise.

TSENG, YEN-KAI a.k.a. TSENG, PING-TZU Bilingual Customer Service Specialist 48.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information.

GAONA CADENA, PEDRO JULIO Retail Proposition Director - General Insurance/ Retail/Motor Business

39.

Brief Job Description: Responsible for leading the organization in research for new products, enhancements, and redesigns. Evaluate the potential and practicality of products in development and rely on extensive experience and judgment to plan and accomplish goals. Establish relationships with partners and the GT Capital Group of companies to achieve the target.

Basic Qualification: Ability to communicate technical concepts. Knowledgeable with Motor and Commercial GI business. Well-versed in Reinsurance Treaty Programs. Equipped with the technical knowledge required to manage Underwriting functions. More than ten years of experience in the insurance industry. Actuary is an advantage but not a requirement. Salary Range: Php 150,000 - Php 499,999

PRINCIPAL GLOBAL SERVICES (PHILIPPINES) LLC 15th Floor, Ten West Campus Building, Le Grand Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

54.

CAI, CHUNSHUN Customer Relation Representative (Mandarin Translation) 49.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English language translation.

55.

Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

50.

Brief Job Description: Manage large amount of incoming phone calls.

51.

52.

53.

LUAN, YU Customer Service Representative Brief Job Description: Manage large amount of incoming phone calls.

SON, YOUNG CHAE Customer Service Representative Brief Job Description: Manage large amount of incoming phone calls.

TINI Customer Service Representative Brief Job Description: Manage large amount of incoming phone calls.

QUALIFICATION AND SALARY RANGE Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills.

UMI SISKA Customer Service Representative Brief Job Description: Manage large amount of incoming phone calls.

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

Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

56.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

YOSUA SALIM Customer Service Representative Brief Job Description: Manage large amount of incoming phone calls.

57.

58.

HU, ZHONGMAO Marketing Assistant 59.

Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

LIU, HAIYING Marketing Assistant 60.

Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

Basic Qualification: Proficient in speaking, reading and writing in bilingual languages.

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

HE, XIANHUI Marketing Assistant

Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

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

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

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

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

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

DENG, JINGWEN Marketing Assistant

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and write in Mandarin and Vietnamese languages.

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills.

CHEN, SHIHUI Marketing Assistant

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

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

LIU, HUAN Marketing Assistant 61.

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

SHU, KAI Marketing Assistant 62.

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

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

WEI, XUEQI Marketing Assistant Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

63.

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

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

YOUBIN CONSULTANCY INC. 7c Westgate Tower Condominium, Investment Drive, Mbp Ayala, Alabang, City Of Muntinlupa

LIAO, YIXI Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati

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

PHILIPPINE AXA LIFE INSURANCE CORPORATION 33/f, 34/f & 35/f Gt Tower Int’l, 6813 Ayala Ave. Cor. H.v. Dela Costa St., Bel-air, City Of Makati

Basic Qualification: Holder of a Bachelor’s degree of Communication Arts. With at least 2 years of work experience in the service desk or technical support industry. Fluent in both Thai and English languages.

No.

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

NOKIA SHANGHAI BELL PHILIPPINES, INC. Penthouse W Fifth Bldg., 5th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

LI, JIE Account Manager

QUALIFICATION AND SALARY RANGE

TECHMAVE SERVICES INC. 11/f Liberty Plaza Bldg., 102 H.v. Dela Costa St., Bel-air, City Of Makati

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

Brief Job Description: Analyze financial data including expenditure reports, revenue data and employee reports.

ZHOU, MENGMENG Management Consultant

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

Brief Job Description: Developing training materials and conducting training sessions and workshop.

ZHANG, MENGLONG Management Consultant

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

Brief Job Description: Developing training materials and conducting training sessions and workshop.

ZHENG, ZHENYU Assistant Supervisor

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque 1331 Pearl Plaza Bldg., 133 Quirino Ave., Tambo, City Of Parañaque

DU, GUOLEI Chinese Customer Service

41.

ESTABLISHMENT / ADDRESS

RRA ONE GLOBAL CONSULTANCY CORP. Blk 1 Lot 6 Progressive St., Lucky Homes Subd., Barangay 168, City Of Caloocan SHI, XIURONG Assistant Supervisor

Wednesday, January 31, 2024

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills.

64.

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

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills. Salary Range: Php 30,000 - Php 59,999

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

KESYA AMELIA Indonesian-Speaking Customer Service Officer 65.

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

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills.

Brief Job Description: Undertaking daily administrative tasks to ensure the functionality and coordination of the department’s activities.

ZAPPORT SERVICES, INC. 22/f & 36/f Burgundy Corporate Tower, 252 Sen. Gil J. Puyat Ave., Pio Del Pilar, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-55 years old. With at least 6 months of customer service experience. With good verbal and written communication skills.

Basic Qualification: 18-55 years old. With at least 6 months of customer service experience and 1 year experience as sales and marketing representative.

WU, BINGFANG Marketing Assistant

Brief Job Description: Submits Indonesian written reports about daily operation of call center activities performing customeroriented telephone activities and various background operation duties.

YUSRI HIDAYAT Indonesian-Speaking Customer Service Officer 66.

Brief Job Description: Submits Indonesian written reports about daily operation of call center activities performing customeroriented telephone activities and various background operation duties.

Basic Qualification: Fluent in speaking and writing in Indonesian language. Salary Range: Php 30,000 - Php 59,999

*Date Generated: Jan 30, 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.

A10

BusinessMirror

Wednesday, January 31, 2024 Republic of the Philippines

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

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

January 31, 2024

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

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

NO. 1

ESTABLISHMENT GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

KYAUK RAIN CHONE

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Php30,000 Php59,999

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Chinese Customer Service

Able to speak, read and write Chinese language.

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

SEAH BENG HONG

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language.

Manage incoming calls and customer service inquiries

Salary Range:

LI, HAO

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Php30,000 Php59,999

MAY MYAT MON

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Brief Job Description: Salary Range:

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range: Php30,000 Php59,999

CHEN, ZUYI

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language.

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Brief Job Description:

Php30,000 Php59,999

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language.

Brief Job Description:

Php30,000 Php59,999

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language.

Brief Job Description:

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range: Php30,000 Php59,999

LEONG KAR WEI

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese language.

Brief Job Description: Manage incoming calls and customer service inquiries

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range:

LE VAN MANH

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range:

DUONG VAN CANH

Manage incoming calls and customer service inquiries

Php30,000 Php59,999 Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description:

Salary Range: Php30,000 Php59,999

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary Range: Php30,000 Php59,999

SHEN, YANRONG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language.

Brief Job Description: Manage incoming calls and customer service inquiries

Brief Job Description:

Manage incoming calls and customer service inquiries

Salary Range:

LI, XIAOLONG

Manage incoming calls and customer service inquiries

Php30,000 Php59,999

SAI MAUNG AIK

Manage incoming calls and customer service inquiries

Php30,000 Php59,999

Salary Range:

Salary Range: Php30,000 Php59,999

LEE CHOK TONG

Basic Qualification:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language.

Brief Job Description: Manage incoming calls and customer service inquiries

Php30,000 Php59,999

Brief Job Description:

Manage incoming calls and customer service inquiries

Brief Job Description:

Manage incoming calls and customer service inquiries

Basic Qualification:

Salary Range:

LIN KYEIN SEINN

Manage incoming calls and customer service inquiries

GLARION TECHNOLOGIES CORPORATION

Brief Job Description:

Manage incoming calls and customer service inquiries

LI, DONGSHENG

QUALIFICATION AND SALARY RANGE 10

Manage incoming calls and customer service inquiries

www.businessmirror.com.ph

Salary Range: Php30,000 Php59,999

LEONG KUOK YIE

Basic Qualification:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language.

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

LYE MOA QIN

Basic Qualification:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language.

Php30,000 Php59,999

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

REESE TAN LIP HUE

Basic Qualification:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language.

Php30,000 Php59,999

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range:

WONG YIP SAM

Basic Qualification:

Malaysian Customer Service Representative

Able to speak, read and write Chinese and Malaysian language.

Php30,000 Php59,999

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

BusinessMirror

www.businessmirror.com.ph

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

DANG QUANG THIET

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language.

GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

HARD DISCOUNT PHILIPPINES, INC. Blk 1, Lot 13 & 14, Southwoods Industrial Park, Mabuhay, Carmona, Cavite

MASSPOWER PHILIPPINES ELECTRONICS INCORPORATED Block 8, Lot 8, Phase 2, First Cavite Industrial Estate, Langkaan I, City of Dasmariñas, Cavite

MITSUBISHI MOTORS PHILIPPINES CORPORATION No. 1 Auto Park Avenue, Greenfield Automotive Park, Don Jose, City of Santa Rosa, Laguna

Expertise on the body assembly operations

Transfer technical knowledge to assembly line supervisors through onsite training on body assembly shop

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language.

MITSUBISHI MOTORS PHILIPPINES CORPORATION No. 1 Auto Park Avenue, Greenfield Automotive Park, Don Jose, City of Santa Rosa, Laguna

Brief Job Description: Salary Range: Php30,000 Php59,999

DUONG VAN THUY

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language.

Basic Qualification:

Senior Expert for Manufacturing Division

Expertise on the vehicle assembly production operations

MITSUBISHI MOTORS PHILIPPINES CORPORATION

Prepare vehicle assembly shop reports for MMC

Salary Range:

WAKABAYASHI, TAKAYOSHI

Basic Qualification:

Senior Expert for Manufacturing Division

Expertise on the vehicle assembly shop

Salary Range:

NGO, VAN PHUC

Basic Qualification:

Brief Job Description:

Able to speak, read and write Chinese and Vietnamese language.

Prepare vehicle assembly shop reports for MMC

Brief Job Description: Manage incoming calls and customer service inquiries

No. 1 Auto Park Avenue, Greenfield Automotive Park, Don Jose, City of Santa Rosa, Laguna

Php30,000 Php59,999

31 Salary Range:

PHAN THI NHU Y

Basic Qualification:

Vietnamese Customer Service Representative

Able to speak, read and write Chinese and Vietnamese language.

Php60,000 Php89,999

SURUGA, HIDENORI

Manage incoming calls and customer service inquiries

Vietnamese Customer Service Representative

Salary Range:

Brief Job Description:

MITSUBISHI MOTORS PHILIPPINES CORPORATION No. 1 Auto Park Avenue, Greenfield Automotive Park, Don Jose, City of Santa Rosa, Laguna

Php60,000 Php89,999

Salary Range: Php90,000 Php149,999

KAWAHARA, HIROSHI

Basic Qualification:

Senior Expert for Sales & Marketing Division

With expertise on conceptualization and execution of digital marketing

Brief Job Description: Provide insight on the current trends to optimize the spend and performance of digital strategies

Salary Range:

DENG, YUNCAI

Basic Qualification:

Surface Mount Technology Equipment Engineer

Graduate of any Bachelor degree and must be fluent in Mandarin and Taiwanese

Php90,000 Php149,999

Brief Job Description: Salary Range:

Basic Qualification:

Regional Manager

10 years of regional sales experience with at least 100 branches to manage

Brief Job Description:

Php30,000 Php59,999

OLSCHEWSKI, NIKLAS

in-charge of maximizing the sales of region and ensure the lowest possible cost and highest productivity in every part of the operation and procedures

Senior Expert for Manufacturing Division

Php30,000 Php59,999

Basic Qualification:

Manage incoming calls and customer service inquiries

Basic Qualification:

Brief Job Description:

Php30,000 Php59,999 23

NAKAO, TAKEO

Salary Range:

DANG QUOC DONG

Manage incoming calls and customer service inquiries

MITSUBISHI MOTORS PHILIPPINES CORPORATION No. 1 Auto Park Avenue, Greenfield Automotive Park, Don Jose, City of Santa Rosa, Laguna

Brief Job Description: Manage incoming calls and customer service inquiries

Wednesday, January 31, 2024

Salary Range:

Unit A1, Blk. 1, Lot 6, Phase 2, Golden Gate Business Park, Buenavista II, City of General Trias, Cavite

Php150,000 Php499,999

CHEN, JIANWEN

Basic Qualification:

Production Planning and Material Control Manager

With 5 years experience as PPMC and can understand and speak Chinese

PHISONIC TECHNOLOGY CORPORATION

SANYO PLASTIC PHILIPPINES, INC. 110 East Main Avenue, Laguna Technopark Inc., Malamig, City of Biñan, Laguna

Brief Job Description: Design equipment meeting interdepartmental needs and specifications

Salary Range:

SUZUKI, SATOSHI

Basic Qualification:

General Manager

Proficient in management of a manufacturing company and in sales

Brief Job Description: Direct all business and operational activities of the company

Salary Range: Php30,000 Php59,999

YAO, ZHIGANG

Basic Qualification:

QA/QC Manager

With 5 years of experience as QA/ QC Manager

Brief Job Description: Report to the general manager as immediate supervisor

Php30,000 Php59,999

Basic Qualification:

Senior Expert for Manufacturing Division

Expertise on the quality control operations and strategic vehicle inspection

Advise and provide strategies for vehicle inspection operation

TAIYO PLASTIC CORPORATION OF THE PHILIPPINES Block 12, Lot 2, Linares Street, Gateway Business Park, Javalera, City of General Trias, Cavite

AKASAKA, KENICHI

Basic Qualification:

President and Chairman of the Board

With financial operational knowledge and strong decision point

Brief Job Description: Oversee and manage the operation of the company to ensure production efficiency, quality service and cost-effective management

Salary Range: Php90,000 Php149,999

Salary Range:

KIKUCHI, YUTA

Brief Job Description:

Salary Range: Php150,000 Php499,999

Brief Job Description: Oversee daily production schedules and ensure that inventory levels are managed properly

Php60,000 Php89,999

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication. Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

Salary Range: Php90,000 Php149,999

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

A11

A12 Wednesday, January 31, 2024

TheWorld BusinessMirror

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

Ukraine attacks inside Russia hurt Putin’s efforts to show the war isn’t hitting home

By The Associated Press

HE wail of air raid sirens is commonplace in Belgorod, a Russian border city whose residents are on edge following a Ukrainian missile attack on a New Year’s holiday weekend that left dozens of people dead and injured. A spectacular explosion rocked a huge fuel export terminal on the Baltic Sea southwest of St. Petersburg this month from a Ukrainian drone, forcing the energy company Novatek to suspend operations for several days. Last week, an apparent drone attack in the Black Sea port of Tuapse in the southern Krasnodar region hit one of Russia’s largest refineries and ignited a fire, while another big refinery in the Volga River city of Yaroslavl, north of Moscow came under attack early Monday, but officials said there was no damage. There also have been strikes on a gunpowder factory in the Tambov region and arms producers and military facilities in the Bryansk, Smolensk and Tula regions. Attacks like these are dealing a heavy blow to President Vladimir Putin’s attempts to reassure Russians that life in the country is largely untouched by the nearly 2-year-old war. “Ukraine has increased its capacity to strike back against Russia,” Michael Kofman, a military expert with the Carnegie Endowment, said in a recent podcast. “You see increased Ukrainian attacks against Russian critical infrastructure, retaliatory attacks against cities like Belgorod and greater strikes against Russian

military base in Crimea,” he said. As Putin ramps up his campaign ahead of the presidential election in March, he wants to maintain an air of normalcy. But the increasingly frequent Ukrainian attacks have raised the visibility of the war on Russian soil, and there are other signs the conflict is increasingly challenging the Kremlin’s tight control of the political scene. Thousands across Russia have signed petitions supporting the longshot presidential bid of liberal politician Boris Nadezhdin, who has made ending the war his main campaign issue. Wives of some soldiers rounded up in a partial mobilization in 2022 have pushed for their discharge. And despite a tight ban on protests, hundreds rallied in Bashkortostan province, clashing with police to protest the jailing of a local activist. Certainly the December 30 strike on Belgorod marked a bloody escalation in the minds of many Russians. A barrage of missiles struck the city of 340,000, which is about 40 kilometers (25 miles) east of the Ukrainian border, on a holiday weekend when people were out shopping, ice skating and watching New Year’s festivities. Officials said 25 people were killed, including five children, and over 100 were injured. Residents described seeing

IN this photo taken from video released by Russian Emergency Situations Ministry Telegram channel on December 30, 2023, firefighters extinguish burning cars after shelling in Belgorod, Russia. The attack in the city near the border with Ukraine killed 25 people and injured 109, dealing a heavy blow to President Vladimir Putin’s attempts to reassure his countrymen that their lives have been largely unchanged by the nearly two-year military operation. RUSSIA EMERGENCY SITUATIONS MINISTRY TELEGRAM CHANNEL VIA AP

victims with horrific injuries and pools of blood staining the sidewalks. One resident told the RBC news outlet he saw a baby carriage hit by shrapnel, the bloodied parents lying next to it. A drug store clerk said injured pedestrians ran into his pharmacy, seeking help. “I’m seeing requests on social networks from people who write: ‘We are scared, please help us get to a safe place!’” said regional Gov. Vyacheslav Gladkov, adding that several hundred people were evacuated, including over 1,000 children heading to camps in neighboring regions. Hol id ay and rel ig ious festivities were muted or canceled entirely. The shelling damaged nearly 600 apartments and scores of private homes, and shrapnel peppered over 500 cars. Bus stops are being reinforced with concrete blocks and sandbags. Residents say they flinch at any loud noise these days and are afraid to go outside. Schools in

the city and near the border have switched to online classes until mid-February. It’s not the first time Belgorod has been touched by the war, with drone strikes and other attacks early in the conflict. In April 2023, a bomb accidentally released by a Russian warplane exploded in a street, gouging a huge crater and injuring two people. On January 24, the Defense Ministry said a military transport plane was shot down in the Belgorod reg ion while car r ying Ukrainian prisoners of war, killing all 74 people aboard. Although Russia has released what it called evidence that it said proved Ukrainian POWs were aboard, officials in Kyiv disputed it and instead blamed Moscow for trying to use the incident to hurt Ukrainian morale. Putin said the December 30 shelling of Belgorod left him “boiling with anger,” describing it as an act of desperation by Kyiv following the failure of Ukraine’s

counteroffensive. “They want to show their people and their sponsors who give them money, weapons and ammunition that they can retaliate against Russia’s action,” he said. “They want to show that they can also do something, but instead of fulfilling military tasks, they use barbaric methods and strike peaceful settlements with indiscriminate weapons.” Throughout the war, the Kremlin claims Russia has hit only military targets in Ukraine—despite widespread evidence to the contrary and heavy civilian casualties in places like Kyiv, Mariupol and Kharkiv. Ukrainian officials rarely comment on strikes inside Russia but they emphasize their right to use all means to counter Moscow’s aggression. At a news conference in August, Ukrainian President Volodymyr Zelenskyy said Russia had launched over 6,500 missiles and 3,500 drones since the war began, most of them at civilian targets. In a New Year’s address to the nation, he vowed: “The one who brings hell to our land will one day see it from their own window.” Russian hawks have pointed to Belgorod as a turning point for the Kremlin to raise the stakes in the war. Alexander Dugin, a nationalist ideologue whose daughter was killed in a car bombing blamed on Ukraine in August 2022, argues that Russia should respond by escalating the fighting and declaring a broad mobilization. “I would like to believe that Russia now will take off the white gloves and start fighting for real,” he wrote. “Should we abide by the rules at a time when a gateway to hell opens? Our task for 2024 is to restructure the state and society to put it on military footing and throw all our resources to achieve victory.”

Russian military bloggers note the challenges of spotting Ukrainian rocket launchers moving to positions under 40 kilometers (25 miles) from the border, emphasizing the need for better surveillance. Many lamented Russia’s withdrawal from the area in September 2022 amid Kyiv’s swift counteroffensive, arguing that more Ukrainian territory should be captured to secure Belgorod and other border regions. With fighting largely frozen along the 1,500-kilometer (930mile) front line during winter, the missile and drone attacks inside Russia have demonstrated Ukraine’s long-range strike capability that is stretching Moscow’s security assets. “Continued Ukrainian strikes in deep rear areas in Russia may thus increase pressure on Russia’s air defenses overall,” the Washington-based Institute for the Study of War said in a recent analysis. If this is Kyiv’s plan, it’s similar to what Russia did a year ago by targeting Ukraine’s power grid in the hope that repairs would take time. In the end, Ukraine managed to get enough spare parts and make quick fixes so that Moscow’s campaign failed. Now, it’s Russia that needs to find a coping strategy. Sergey Vakulenko, an energy analyst at the Carnegie Russia Eurasia Center, said it could be challenging for Russian refineries to fix the damage quickly. While Ukraine’s small drones can’t cause major destruction, he said “they can damage not just pipelines, but also compressors, valves, control units, and other pieces of equipment that are tricky to replace because of sanctions.” “If we are seeing the beginning of a wave of attacks on western Russia’s oil refineries, the consequences will be serious,” Vakulenko said in a commentary.

Israel destroys Gaza Islamic cemetery; says Hamas used the site to hide tunnel By Sam Mcneil

The Associated Press

H A N YOU N I S , G a z a Strip—The Islamic cemetery in southern Gaza was demolished, graves excised from the earth. A skull with no teeth rested atop the sandy, churned rubble. The neighborhood of Bani Suheila in the southern Gaza city of Khan Younis, which soldiers showed foreign journalists Saturday, was obliterated, transformed by the military’s search for underground Hamas tunnels. An Associated Press journalist saw a destroyed mosque and—where the cemetery had once been – a 140-meter-(yard)wide pit that gave way to what the army called a Hamas attack tunnel underneath. The military said Monday that combat engineers had demolished part of the network, releasing a video showing massive explosions in the area. As Israel moves forward with a ground and air campaign in Gaza that health officials in the besieged enclave say has claimed over 26,000 Palestinian lives, the military’s destruction of holy sites has drawn staunch criticism from Palestinians and rights groups, who say the offensive is also an assault on cultural heri-

tage. Under international law, cemeteries and religious sites receive special protection—and destroying them could be considered a war crime. Israel says Hamas uses such sites as military cover, removing them of these protections. It says there is no way to accomplish its military goal of defeating Hamas without finding the tunnels, where they say the militants have built command and control centers, transported weapons and hidden some of the 130 hostages it is believed to be holding. They say digging up the tunnels involves unavoidable collateral damage to sacrosanct spaces. “We’re not naive anymore,” said Israeli Brig. Gen. Dan Goldfus, who led journalists around the site Saturday. Israel has made similar arguments in operations in and around Gaza hospitals. Goldf us brought jour na lists inside a tunnel shaft he said stretched underneath the mosque and the cemetery. The journalists walked down a long concrete tunnel that branched in multiple directions and arrived at a small collection of rooms soldiers alleged were used by Hamas militants as a command and control center. It i nc luded t h ree domed rooms—one with four chairs,

ISRAELI soldiers stand in a Hamas tunnel underneath a cemetery during the ground offensive on the Gaza Strip in Khan Younis on Saturday, January 27, 2024. AP/SAM MCNEIL

one with a desk, and a kitchen with empty cans of beans and a spice rack. A military commander said the tunnel, which contained a power transformer, fans, piping with wires and light switches, stretched 800 meters (yards) and was connected to a larger tunnel network in southern Gaza. The army says it has found similar warrens of rooms in tunnels all over the Gaza Strip. It alleged the quarters shown to journalists Saturday included the office of a Hamas commander, an operations room, and living quarters for senior members of Hamas. It said the tunnel was

used to plan attacks against the military. The demolished cemetery, according to a satellite analysis, appears to have been the Shuhadaa Bani Suheila graveyard. Since Israel declared war against Hamas on October 7, it has repeatedly accused the Islamic militant group of using Gaza’s civilian sites as cover for military use. It says that military operations—from raiding hospitals to digging up cemeteries and destroying holy sites—are necessary to dismantle the militants’ command centers and bunkers. On October 7, Hamas militants poured into southern Is-

rael, killing 1,200 people and dragging some 250 hostages back to Gaza. Over 100 hostages were exchanged for Palestinian prisoners during a weeklong ceasefire in November. Israel’s retaliatory offensive on Gaza has displaced most of the 2.3 million population. According to a UN monitor, the military has damaged 161 mosques in the course of its operations. The agency said it has not tracked the number of cemeteries that were damaged. On Saturday, Goldfus swept his gloved hand across the moonscape surrounding him. The golden dome of the mosque was cracked and off-kilter, slumping down onto its shattered walls. Goldfus said that Israeli forces destroyed the mosque after militants fired at them from within its grounds. Footage circulated on Israeli media showed soldiers using explosives to blow out the mosque’s first floor walls, collapsing it. UNESCO has called on both Hamas and Israel to refrain from attacking culturally important sites. Under the Rome Statute, the 1998 treaty that established the International Criminal Court, cemeteries and mosques receive special protection as “civilian property.” The destruction of

these sites can be considered a war crime, according to the US Commission on International Religious Freedom. Israel argues the sites lose their protection when they are used for military purposes, and when the operational gain from targeting them outweighs the loss of civilian life and infrastructure. Goldfus said that forces had found other traces of Hamas activity in the area, from confiscated AK-47s to a map of the border between Gaza and Israel that he said Hamas might have used for the October 7 attack. He said destroying the mosque and digging up the cemetery was integral to locating some 60 tunnel shafts in the area. The journalists were shown only one shaft. Dismantling the tunnel network, Goldfus said, posed a “riddle” to forces. He said it is difficult to operate in the area without harming sacred sites and even human remains. “We try to move them aside as much as possible,” he said when asked about the excavated bodies. “But remember, when we are fighting in this place, and your enemy is flanking you again and again and again, and using these compounds to hide in, there’s not much you can do.”

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Wednesday, January 31, 2024 A13

Pakistani court sentences former Prime Minister Imran Khan to 10 years for revealing state secrets

SLAMABAD—A Pakistani court on Tuesday sentenced former Prime Minister Imran Khan and one of his party deputies to 10 years in prison each, after finding them guilty of revealing official secrets.

According to Zulfiqar Bukhari, spokesman for Khan’s Pakistan Tehreek-e-Insaf party, the court announced the verdict at a prison

in the garrison city of Rawalpindi. Khan, who was ousted through a no-confidence vote in Parliament in April 2022, is currently

South Korea says North fired cruise missiles in third launch of such weapons this month By Kim Tong-Hyung The Associated Press

EOUL, South Korea—North Korea fired multiple cruise missiles into waters off its western coast Tuesday in its third launch of such weapons this month, South Korea’s military said, as the North continues to flaunt its expanding arsenal of weapons designed to overwhelm its rivals’ defenses. South Korea’s Joint Chiefs of Staff said the South Korean and US militaries were analyzing the launches that were detected around 7 a.m. It did not immediately provide more details, including the number of missiles fired, how far they flew, and whether they were launched from land or sea. The launch followed tests on January 24 and January 28 of the Pulhwasal-3-31 cruise missile North Korea says is designed to be fired from submarines. Following the second launch, North Korean leader Kim Jong Un reiterated his goal of building a nuclear-armed navy to counter what he described as growing external threats. It’s not yet clear if that water launch Sunday was conducted from an actual submarine or an underwater barge. Tensions on the Korean Peninsula are at their highest point in years, after Kim accelerated his weapons development to an unprecedented pace while issuing provocative nuclear threats against the United States, South Korea and Japan. The United States and its Asian allies in response have strengthened their combined military exercises, which are increasingly featuring US strategic assets such as aircraft carriers, long-range bombers and nuclearpowered submarines. The countries are also sharpening their deterrence strategies, with Seoul in particular seeking stronger assurances from Washington that the United

States would swiftly and decisively use its nukes to defend its ally in the event of a North Korean nuclear attack. The North on January 14 also tested a new solid-fuel intermediate-range missile, which underscored its efforts to advance its weapons that could target US assets in the Pacific, including the military hub of Guam. There are concerns that Kim, emboldened by the steady advancement of his nuclear arsenal and strengthened ties with Russia, would further ramp up pressure against his rivals in an election year in the United States and South Korea. Aside of weapons tests, there are also growing concerns in the South about a direct North Korean provocation. The North in early January fired hundreds of artillery rounds for three consecutive days into waters near their disputed western sea border, prompting the South to conduct similar firings in response. The exchange caused no known casualties or damage, but the sea boundary had been the site of several bloody skirmishes and attacks in past years. During a fiery speech at Pyongyang’s parliament on January 15, Kim declared that the country was abandoning its longstanding objective of a peaceful unification with war-divided rival South Korea and ordered the rewriting of the North Korean constitution to cement the South as its most hostile foreign adversary. He then said that the North has no intention to avoid war and would use its nukes to destroy the South if provoked. Experts say the North is aiming to diminish South Korea’s voice in international efforts to resolve the nuclear standoff and eventually force direct dealings with Washington as it seeks to cement its nuclear status and negotiate a release of US-led sanctions from a position of strength.

Protesting farmers encircle Paris with tractor barricades, vowing a ‘siege’ over grievances By Sylvie Corbet & John Leicester The Associated Press

OSSIGNY, France—Protesting farmers encircled Paris with traffic-snarling barricades Monday, using hundreds of lumbering tractors and mounds of hay bales to block highways leading to France’s capital to pressure the government over the future of their industry, which has been shaken by repercussions of the Ukraine war. The blockading of major thoroughfares around Paris—host of the Summer Olympics in six months—and protests elsewhere in France promised another difficult week for new Prime Minister Gabriel Attal, less than a month into the job. Protesters said Attal’s attempts last week at pro-agriculture measures fell short of their demands that producing food should be more lucrative, easier and fairer. Farmers responded with the deployment Monday of convoys of tractors, trailers and even rumbling harvesters in what they described as a “siege” of Paris to gain more concessions. Some protesters came with reserves of food and water and tents to stay at barricades if the government doesn’t cede ground. “ We’ve com e to de f en d Fre nc h

agriculture,” said Christophe Rossignol, a 52-year-old farmer of organic orchards and other crops. Tractors at the barricade east of Paris were parked so they formed what looked like an ear of wheat when seen from the air. “We go from crisis to crisis,” Rossignol said. Some vehicles carried placards declaring “No food without farmers” and “The end of us would mean famine for you.” The barricades highlighted gulfs in economic and social opportunity between town and country in France. Protesters said they felt ignored by government ministers they accused of rarely venturing to farms and getting their shoes dirty. The government announced a deployment of 15,000 police officers, mostly in the Paris region, to stop any effort by protesters to enter the capital. Officers and armored vehicles were also stationed at Paris’ hub for fresh food supplies, the Rungis market. Paris region traffic authorities reported blockages on the A1 highway just north of the city’s main international airport, on the A4 near the Disneyland theme park east of the capital and on other usually busy highways. Leicester reported from Le Pecq, France. AP journalist Mark Carlson in Halle, Belgium, also contributed.

serving a three-year prison sentence in a graft case. The latest development comes ahead of the February 8 parliamentary elections in Pakistan— a vote that Khan is barred from running in because of his previous criminal conviction. Authorities say Khan and his deputy who also received a 10year sentence, Shah Mahmood Qureshi, have the right to appeal Tuesday’s ruling in the case, popularly known as the Cipher case. Although Khan will not be on the ballot for the February

election, he remains a potent political force because of his grassroots following and antiestablishment rhetoric. He says the legal cases against him were a plot to sideline him ahead of the vote. Pakistan has seen violent demonstrations since after Khan’s May 2023 arrest. Authorities have cracked down on his supporters and party since then. Pakistan’s independent human rights commission has said there is little chance of a free and fair parliamentary election next

month because of “pre-poll rigging.” It also expressed concern about authorities rejecting the candidacies of Khan and senior figures from his party. T he Cipher case is one of more than 150 cases pending against Khan, a former cricket star turned Islamist politician. Other charges range from contempt of court to terrorism and inciting violence. Khan is alleged to have waved a confidential document during a rally after he was toppled as premier, claiming that it was

proof he was being threatened and that his ouster was a US conspiracy, allegedly executed by the military and the government in Pakistan. Washington and Pakistani officials have denied the claim. T he document he waved— dubbed Cipher—has not been made public by either the government or Khan’s lawyers but was apparently diplomatic correspondence between the Pakistani ambassador to Washington and the Ministry of Foreign Affairs in Islamabad. AP

Malaysia charges ex-minister for not declaring assets, as graft probe targets Mahathir’s allies By Eileen Ng

The Associated Press

UALA LUMPUR, Malaysia— Malaysia charged a former minister on Monday with failing to declare assets, the latest step in a corruption probe that’s targeting several people connected to a former prime minister. Former Finance Minister Daim Zainuddin, who left office more than 20 years ago, is a key ally of ex-Prime Minister Mahathir Mohamed. Both argue that the probe is politically motivated and that prosecutors have ignored potential corruption among allies of the current government. A frail Daim, 85, who was just discharged from hospital, turned up in court in a wheelchair. He pleaded not guilty to a charge of failing to declare 71 assets ranging from luxury cars to a raft of companies, properties and land. He faces up to five years in jail and a fine if found guilty. After his court hearing, Daim called Prime Minister Anwar Ibrahim “a wolf in sheep’s clothing who cried reforms” but instead abused government institutions to pursue his political foes.

FORMER Malaysian Finance Minister Daim Zainuddin on wheelchair speaks to media at the courthouse in Kuala Lumpur, Malaysia on Monday, January 29, 2024. Daim was charged Monday for failing to declare his assets more than two decades after he left office, in a prosecution he slammed as politically driven. AP/VINCENT THIAN

He pointed to the case of Deputy Prime Minister Ahmad Zahid Hamidi, who was also faced trial for corruption until prosecutors dropped 47 graft charges against him last year. “I am not too bothered about my fate now. Let Anwar throw everything at me. But I fear for the fate of my country,” Daim said. Last week, Daim’s wife also pleaded not guilty to a similar charge. Daim, one of the country’s

wealthiest tycoons, insists his offshore assets were the result of legitimate business activities and investments. Daim served as Finance Minister from 1984-1989 and again from 1999-2001 under Mahathir. He and Mahathir’s eldest son, Mirzan Mahathir, were among several Malaysians revealed to hold millions offshore in the Pandora Papers, a major document leak that revealed offshore accounts held by

Kishida says he’s determined to break Japan’s ruling party from its practice of money politics By Mari Yamaguchi

The Associated Press

OK YO — Japa n’s Pr ime Minister Fumio Kishida stressed Tuesday he was determined to make a clear break from money politics as he renewed an apology for the latest major corruption scandal in the governing party, which has eclipsed his key policies such as strengthening the military and Japan’s alliance with the United States. His policy speech had been due Friday when the new parliamentary session opened, but Kishida instead had to start the session with an apology Monday. Kishida said he must admit that factions in the Liberal Democratic Party seemed to work for money and favors rather than policy, and he promised to lead reforms. “I humbly regret, and made a determination to have policy groups make a complete break from money and personnel affairs,” he said. Kishida gave no further explanation about the scandal or how the money was spent. Opposition lawmakers have pressed for him to disclose details. Kishida said he needed to regain public trust, citing challenges

JAPAN’S Prime Minister Fumio Kishida, on platform, delivers his policy speech at parliament in Tokyo on Tuesday, January 30, 2024. KYODO NEWS VIA AP

including a deadly earthquake on New Year’s Day and the economy. Kishida pledged to “further expand and deepen” the JapanUS relations, which he called the lynchpin of Japan’s diplomatic polic y, inc lud ing by meeting President Joe Biden on a state visit to Washington in April. He said Japan needs to further strengthen Japan-US alliance to reinforce Japanese security and to play a greater role in regional peace and stability. Under the national security strategy adopted in December 2022, Kishida announced plans to double defense spending in five years for drastic military buildup that include strike capability amid growing threat from China and North Korea. He did not clarify in

his speech Tuesday how his government plans to secure the funding. Public suppor t ratings for Kishida’s administration have dropped to around 20 percent, and while his leadership tenure may be shortened, the LDP is most likely to stay in power because the largely fractured opposition parties are not seen as a viable alternative. The LDP has governed postwar Japan almost without interruption and has repeatedly had corruption scandals followed by promises for cleaner politics. The latest scandal centers on political funds raised through party event tickets bought by individuals, companies and organizations. Dozens of LDP lawmakers, most of them belonging to a faction previously led by assassinated former

politicians and billionaires around the world. The anti-graft agency has asked both Mirzan and his brother Mokhzani to declare their assets. Mahathir was Malaysia’s longest serving-leader, holding office for 22 years before he stepped down in 2003, and again from 2018-2020. He now supports the opposition Malay-Islamic alliance. Mahathir, 98, has said he believes Anwar is fishing for evidence to implicate him. The two men have a long history that has shaped Malaysian politics. Anwar was Mahathir’s designated successor in the 1990s before they fell out amid the Asian financial crisis. Anwar was later jailed for corruption and sodomy, charges he said were concocted to kill his political career. The pair joined hands for the 2018 general elections to oust the long-ruling coalition, while Anwar was in jail on a second sodomy charge. He was pardoned by the king shortly after their victory. Mahathir became premier for the second time in a deal that called for him later to hand over power to Anwar, but their alliance collapsed amid infighting. Prime Minister Shinzo Abe, were accused of systematically not reporting funds in violation of the Political Funds Control Law. The money was alleged to have gone into unmonitored slush funds. Prosecutors recently indicted 10 people, including three lawmakers, though cases were dropped against political heavyweights. Kishida on Monday admitted at least 37 lawmakers are now correcting the accounting of their political funds. Governing lawmakers say proceeds from fundraising events provide key income to help cover election costs and other political activities, and deny they hid or pocketed unreported income. Experts say the Political Funds Control Law has many loopholes. Kishida has announced the dissolving of his faction following the scandal and he has established an internal task force to make reforms, but half of its members are linked to the scandal, raising questions about how much it can achieve. Critics say the real problem is not the factions but the behindthe-scenes dealings often based on lawmakers’ connections with voters in their electoral districts. Kishida doesn’t have to call a parliamentary election until 2025, but his party has set a leadership vote for September.

A14 Wednesday, January 31, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Farewell, CNN Philippines: A great loss for the nation

oday is a sad day for Philippine journalism as we bid farewell to CNN Philippines, which will cease operations across all media platforms. The closure of CNN Philippines marks the end of an era for a media company that has served as a trusted source of news and information for the Filipino people. And we can’t help but reflect on the significant impact it has had on journalism, media plurality, and the quest for truth.

Since its launch in 2015 under a brand licensing agreement between Turner Broadcasting Corporation and Nine Media Network, a part of the ALC Group of Companies that was established by the late Ambassador Antonio L. Cabangon Chua, CNN Philippines has been a beacon of reliable journalism, upholding the values of truth, accuracy, fairness, and accountability. Its dedicated team of journalists and staff members worked tirelessly to bring forth news stories that mattered; stories that shed light on the realities of the Filipino people. Their unwavering commitment to their craft has elevated CNN Philippines as an essential platform in the country’s media landscape. The closure of CNN Philippines is not just the end of a newsroom; despite a separation package, 300 jobs were lost, impacting the lives of individuals, families, and communities. It is a stark reminder of the challenges faced by the media industry, especially in an era of rapidly evolving technology and an ever-changing media landscape. The huge financial losses sustained by the organization, despite their rigorous efforts to adapt and innovate, highlight the difficulties faced by media outlets in today’s world. Beyond the immediate impact on the employees and their families, the closure of CNN Philippines raises questions about media plurality in the Philippines. The country has long struggled with press freedom, with journalists facing threats and harassment. This closure adds to the challenges faced by those who strive to shed light on the truth, hold power accountable, and provide a diverse range of perspectives to the Filipino people. The Philippines ranks 132nd in the Reporters Without Borders’ World Press Freedom Index, a concerning position for a country that prides itself on vibrant media. The closure of CNN Philippines further emphasizes the need to protect and support independent journalism and uphold the principles of a free press. It is crucial for a healthy democracy to have a diverse range of media outlets that can provide different perspectives, foster public discourse, and hold those in power accountable. A free press is an essential pillar of democracy, providing the public with the information they need to make informed decisions and fostering transparency and accountability in governance. The loss of CNN Philippines is a reminder of the ongoing challenges faced by journalists and the need for continued support for their vital work. As we say goodbye to CNN Philippines, we extend our gratitude to the dedicated team who, against all odds, worked tirelessly to bring us the news. We thank them for their commitment to truth and for their invaluable service to the Filipino people. In an ever-changing environment, the Philippine media industry faces uncertainty. However, let us view this closure as a poignant reminder of the vital role a free press plays, the significance of upholding independent journalism, and the need for diverse media outlets. The legacy of CNN Philippines will not be forgotten, and we must continue to champion the values it stood for—truth, accuracy, fairness, and accountability. Farewell, CNN Philippines. You will be missed, but your impact will resonate in the hearts and minds of the Filipino people for years to come.

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Roads, railways lift tourism Mark Villar

THE BUILDER

he tourism sector has great potential to drive economic growth, generate jobs and open more economic opportunities in rural areas that used to fully rely on farming or fishing.

The Philippines boasts a wealth of natural beauty—from pristine beaches and vibrant coral reefs to majestic mountains and lush rainforests. This inherent allure has positioned the nation as a prime tourist destination. Unlocking this potential, however, requires a strategic focus on infrastructure development. Provinces like Benguet, Cebu, Bohol and Palawan have already witnessed a tourism boom, transforming their economies and showcasing the Philippines’ captivating charm. Palawan, for instance, earned the coveted title of “Trending Destination in the World for 2023,” while the Philippines itself was recognized as one of the “World’s Most Desirable Countries for Adventure in 2022,” and lauded for its breathtaking landscapes and timeless appeal. But accessibility remains a challenge for many of our remote islands and hidden gems. Upgrading infrastructure is crucial to bridging this gap. Expanding ports and airports will accommodate larger vessels and international airlines, and lure a wider range of tourists. The Philippines’ potential ex-

tends far beyond established tourist hotspots. Islands like Batanes, Camiguin, Guimaras, Romblon, Marinduque and Mindoro possess unique beauty and natural wonders waiting to be discovered. Mindanao, with its diverse landscapes and vibrant indigenous communities, offers an equally captivating experience. The Philippines’ pristine reefs and atolls are considered some of the world’s best, attracting diving and marine life enthusiasts. In 2023, the country welcomed over five million international visitors, despite the lack of land borders, demonstrating the undeniable appeal of its natural wonders. Per the Department of Tourism (DOT), some 5.45 million international visitors entered the country last year, of which more than 5 million visitors were foreigners and the rest were overseas Filipinos. This generated P482.54 billion in international tourism receipts, up 124 percent from P214.58 billion in 2022. The DOT recorded P482.15 billion in international tourism receipts in 2019 before the pandemic. The DOT has ambitious plans for

Redeveloping Metro Manila and restoring its numerous waterways such as Pasig River and greening parts of the capital region will be a welcome respite for its population. Parks and open spaces are the lungs that Metro Manila residents need to breathe fresh air. 2024 and aims to attract 7.7 million international visitors. To achieve the goal, infrastructure development must be prioritized. Per the DOT data, the 2023 arrivals just represented a 66-percent recovery rate compared with the 2019 levels. More opportunities and jobs, thus, await workers in the tourism sector. If we could widen our reach and improve our tourism infrastructure, we can double or triple the number of foreign visitors in the Philippines. Thailand and Malaysia, for example, each received nearly 30 million tourists last year. Globally, international tourism is well on track to return to prepandemic levels by 2024, per the United Nations World Tourism Organization (UNWTO). International tourism receipts reached $1.4 trillion last year, and the global industry is expected to fully recover its prepandemic levels in 2024, with initial estimates pointing to a 2-percent growth above 2019 levels. In its World Tourism Barometer, the UNWTO reported that international tourism ended 2023 at 88 percent of pre-pandemic levels, with an estimated 1.3 billion international arrivals. To ride on the global tourism

recovery, we should prepare our infrastructure, facilities and services to accommodate the influx of visitors. We need bigger ports and airports that will serve cruise ships and international airlines. We also need more roads to reach off-the-beaten-path gems, tourist rest areas in strategic locations, more hotels and resorts offering competitive rates, modern hospitals, medical facilities, retirement homes, entertainment facilities, etc. I hope our modern railways will be completed soon to enhance mobility between Metro Manila and other parts of Luzon. The newly completed roads such as the extended Skyway and North Luzon Expressway have already helped improve the traffic situation in Metro Manila, and more are being built under the Marcos administration. I also hope that more toll roads will be developed to make it more convenient for Filipinos and foreign tourists alike to travel across the country. We should also clean up and enhance our river systems to make them more appealing to tourists. Resplendent and quaint cafes and restaurants in other countries line up neatly tiled riverbanks. If we could enhance our river infrastructure in Metro Manila and in the provinces to world-class standards, these areas could potentially become tourist magnets. Tourism infrastructure will definitely ensure the growth and sustainability of the industry. These should include tourism facilities and reliable communication networks that will make our visitors feel at home. See “Villar,” A15

Musk says first Neuralink patient received implant in brain By Sarah McBride

lon Musk said that the first human patient has received a brain implant from his startup Neuralink Corp., a significant step forward for the company that aims to one day let humans control computers with their minds. In a post on X, formerly Twitter, Musk said that the patient is recovering well, and that initial results of the procedure were promising. Neuralink’s brain implant aims to help people with traumatic injuries operate computers using only their thoughts. In May, the company said it had received approval from the US Food and Drug Administration to conduct its first human trials. And late last year Neuralink said it was recruiting patients with quadriplegia due to cervical spinal cord injury or amyotrophic lateral sclerosis (ALS) for the trial. On X, Musk wrote that Neuralink’s first product would be called Telepathy. It will enable “control of

your phone or computer, and through them almost any device, just by thinking,” he said Monday. Musk added that the product’s initial users will be people who have lost the use of their limbs. “Imagine if Stephen Hawking could communicate faster than a speed typist or auctioneer,” he wrote. “That is the goal.” Musk said that Neuralink had good results for neuron spike detection—that means the company is getting recordings from the patient’s brain, said Kip Ludwig, codirector of the Wisconsin Institute for Translational Neuroengineering at the University of Wisconsin. Now, Neuralink needs to show it can do

more than other leading companies in the area, such as Blackrock Neurotech and Synchron, he said. Neuralink has already conducted extensive tests on animals. In those tests, monkeys have been able to play computer games using their brains alone. The experiments have raised alarms with some animal rights groups, such as the Physicians Committee for Responsible Medicine, for the company’s work with primates. For several years, Musk has said that implanting a human with his device was imminent. In July 2019, he predicted surgery in a human head by year’s end. Meanwhile, other companies such as Synchron moved ahead implanting their own devices into human brains, opening Neuralink to the suggestion it was falling behind. Monday’s news will likely blunt that criticism. The long timetable underscores how tough the task ahead is for Neuralink. The startup’s chips aim to

go just a few millimeters into the brain. That’s still deeper than many other systems, such as the one in development from Precision Neuroscience, which sits on top of the brain tissue. Typically, first-in-human trials, which is the type of study Neuralink just launched, enroll five to 10 people and take around six months. If it goes well, Neuralink can start what’s known as a feasibility study, and finally, a pivotal study. Last year, Neuralink said it expected to perform 11 surgeries in 2024. Despite the progress, a commercial brain implant isn’t imminent. “I do think there’s a danger in overhyping it,” Neuralink adviser Jaimie Henderson, a neurosurgery professor at Stanford University, said in an interview that took place last week, before Monday’s news was announced. Henderson said he was excited about the technology, but added an approved device is still years away. Bloomberg

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Opinion BusinessMirror

Wednesday, January 31, 2024 A15

Warren Buffett’s presence When will we ever learn that smuggling causes executives to worry can kill a nation and its people? as Japan’s trading firms seek to mitigate risk Dr. Jesus Lim Arranza MAKE SENSE

By Yasutaka Tamura

arren Buffett can cause executives angst when he invests in their companies. Japan’s trading firms illustrate this point. Berkshire Hathaway Inc. bought stakes in them in August 2020, which raised their international profile and attracted other investors. Over the next four years, the five companies outperformed the broader market. Buffett’s influence can cut both ways however. When Berkshire Hathaway pared its stake in Taiwan Semiconductor Manufacturing Co. last year because of geopolitical risk, the chipmaker’s shares quickly dropped as other investors followed in his wake. With that example in mind, Japan’s trading companies are now taking steps to try and mitigate the impact if Buffett ever decides to sell. “We don’t think Berkshire will hold our stocks forever,” said Yoshinori Takayama, Sumitomo Corp.’s head of investor relations. “We’re aiming to diversify our shareholders, considering the risks of a selloff.” There’s no easy way to do that. Berkshire is one of the largest shareholders in all five of the country’s biggest trading companies. It holds between a 7.5 percent to 8.4 percent stake in Itochu Corp., Sumitomo Corp., Mitsubishi Corp., Mitsui & Co., and Marubeni Corp. Berkshire has given no indication that it plans to sell. Buffett traveled to Japan last April for meetings with executives and afterward increased his holdings in the trading companies. Berkshire has raised funds in Japan by selling a total of 1.3 trillion yen ($8.8 billion) in bonds. The latest was a 122 billion yen note in November of last year. Buffett has said he wants more exposure to Japanese stocks, but will limit his stakes in the trading companies to a maximum of 9.9% unless given specific approval by the companies’ boards. Moreover, Buffett is famously hands-off, trusting management to run companies and his vote of support can convince the broader market as when he took a stake in Goldman Sachs Group Inc. in 2008 at the height of the financial crisis. He trimmed his holdings in the bank to help pay for Berkshire’s acquisition of Precision Castparts Corp. in 2015. Most of the Japanese trading firms trace their roots back to the late-19th century when the nation ended Samurai rule and sought growth through industrialization and adopting Western practices. Their profits have historically been driven by strong commodity markets. Last year, earnings were helped by diversification into food and in-

Villar . . .

continued from A14

Some of our infrastructure projects also need upgrade to cater to tourists who embrace sustainability. This requires the government and the private sector to invest in green infrastructure, like mass transits that run on renewable energy, energy-efficient transportation such

frastructure. A gauge representing the sector on the Topix index surged 39 percent last year, outpacing the 25 percent gain in the broader measure. Buffett has invested about ¥1.3 trillion in the companies according to data compiled by Bloomberg and calculations using share prices at the time the investments were announced. His holdings are currently worth about 3.2 trillion yen. “It is not impossible for him to sell when the share price becomes high and the investment becomes less attractive,” said Hiroshi Namioka, chief strategist at T&D Asset Management. He added that the market is not expecting Buffett to sell, but since his style is value investing, it can’t be ruled out. Berkshire declined to comment on its investments in Japanese trading companies. Buffett has said he prefers investing in Japan over Taiwan as there is less risk from tensions between China and the US disrupting trade. He cut his holdings in TSMC for that reason, even as he called the Taiwanese company one of the bestmanaged companies in the world. TSMC shares have since rallied. In addition to broadening their shareholder base, the firms are also trying to build new businesses to boost earnings and attract growth investors. Mitsui is highlighting segments such as health care and new energy in talks with shareholders, according to Hideaki Konishi, general manager of the company’s investor relations division. Investor relations officials at Mitsubishi and Marubeni also said the companies are trying to expand their shareholder base. Mitsubishi conducted a 3-for-1 stock split effective January 1 to lower its share price and attract more retail investors. Buybacks have helped make Itochu the biggest holder of its own shares. The companies’ earnings potential is ultimately the best protection against the negative impact from Berkshire unwinding its holdings, according to Hideaki Kuribara, senior analyst at Tokai Tokyo Research Institute who has been covering trading companies for nearly 18 years. With assistance from Grace Huang /

Bloomberg

as bicycles and electric vehicles, as well as eco-friendly buildings and facilities. By investing in infrastructure, the Philippines can unlock its full tourism potential, enhance our image as a nation and support the growth of our economy. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar.com.ph

muggling is killing us softly: When will we ever learn? I have been an anti-smuggling advocate for about half a century already, practically more than half of my life. I’ve been actively campaigning against all its forms—outright smuggling, technical smuggling such as under-declaration, misdeclaration, undervaluation, and misclassification, and even importation of substandard products, which I’ve been saying is the worst type of smuggling. These illicit trade practices rob the government of needed revenues, flood the domestic market with cheap and usually substandard products that not only unfairly compete with locally made products but also pose risks to the lives and properties of the people, and strip our workers of their livelihood. Literally, smuggling can kill the nation and its people. The smugglers would be the most notorious among the collective gathering of hoodlums, rogues, illicit traders, grafters, and all other denizens of the underworld. This is why we, at the Federation of Philippine Industries (FPI), are very happy that President Marcos’s

policy pronouncements in his first State of the Nation Address highlighted the need to end smuggling when he told smugglers: “Bilang na ang mga araw n’yo!” People are now also becoming more aware of its evils, especially in the area of food smuggling, particularly rice and other agricultural products. More people are now talking about smuggling in the traditional and social media. We are happy to note at FPI that we, as industry leaders, are no longer fighting a lonely battle alone, and this certainly lifts my morale and my determination to continue waging this long-drawn war against smuggling. A study commissioned by the FPI

revealed that smuggling causes an annual revenue leakage of over P250 billion in value-added tax (VAT). Just collect half of this amount and the government won’t need to impose new taxes that would burden the people and businesses. Since the government imposes a 12-percent VAT, this P250 billion would roughly translate to about P2 trillion worth of imported products that are displacing locally made goods in the market. Let’s face it, most consumers look at the price first so it is more likely that they would choose to buy the cheaper and often substandard imported products, subsequently killing domestic manufacturers. The expense of one is the income of another. The impact of smuggling on the nation’s industry sector is immense, causing tremendous havoc. Many factories have downsized or closed their operations, resulting in the loss of millions of jobs. Take, for instance, the country’s tire industry. We used to have six tire manufacturing companies in the country. But because of smuggling, we now have only one tire manufacturer, which is located at the Clark Freeport Zone. Think of the displaced workers of these tire makers and their support industries from the downstream rubber plantations to midstream suppliers.

The EU and the Indo-Pacific: Partners for a more stable and prosperous world By Josep Borrell Fontelles

T the start of 2024, Europeans are of course deeply concerned by the ongoing Russian war of aggression against Ukraine and by the conflict that has broken out again in the Middle East. However, we are not forgetting the broader picture: the center of gravity of the world’s economy has shifted to the Indo-Pacific region, with close to 50 percent of the world’s GDP and 60 percent of the world’s population. Peace and stability in this region are crucial for Europe and the world. In recent years, the EU has worked steadily to improve its cooperation with the region, in particular by becoming in 2020 a strategic partner of the Association of Southeast Asian Nations (Asean), launching its Indo-Pacific strategy in 2021, holding a successful EU-Asean Summit in 2022 and adopting the Samoa Agreement with Pacific countries in 2023. We will accelerate the path in 2024. The economic links between the EU and the Indo-Pacific region have reached an impressive level, unimaginable 40 years ago. Maritime routes in the region have become the arteries of the world: every day 2,000 ships transport goods across the Indian Ocean and the South China Sea to Europe and back. However, the security environment is deteriorating. Major tensions are rising, from the South China Sea, to the Taiwan Strait, the Korean peninsula and the Red Sea. There is less trust among the main global and regional players; less respect for international law and multilateral agreements; force and coercion are on the rise. We are at risk of going back to a world where “might makes right.”

The EU intends to counter this trend. Multilateral solutions and regional approaches are in our DNA and we will always defend international law, including the United Nations Convention on the Law of the Sea (UNCLOS) and the nonproliferation regime. To defend the rules-based world order, we want to cooperate more closely with our partners committed to multilateralism in the Indo-Pacific region. The EU maintains regular security and defence dialogues with China, Japan, India, Australia, South Korea and other nations. However, our cooperation increasingly extends beyond dialogue to concrete and operational activities. Under our Strategic Partnership with Asean, security cooperation is also becoming more and more a major component. We are participating with members of Asean in regional navy exercises and the navies of our Asian partners are cooperating with us in Operation Atalanta, near the Horn of Africa. These are good examples of what we can do together. To go further, we propose to use our member states’ advanced capa-

bilities to become a “smart security enabler,” helping to build the capacities of our partners in the region on maritime security, cybersecurity, counter-terrorism and foreign information manipulation and interference. We need each other to help stabilize this world. The challenges we are facing do not allow us any other way than to cooperate closely to help avoid conflicts and ensure respect for international law. To protect freedom of navigation, EU member states are already increasing their deployments between the EU and the Indo-Pacific. The region can count on us as a reliable partner. On the economic side, Russia’s aggression against Ukraine has shown us the high cost of the EU’s excessive dependency on Russian gas. We are therefore focusing on improving the EU’s economic security by reducing this type of excessive dependency. However, this does not mean closing our borders. On the contrary, it should lead to developing our economic ties with many countries in the Indo-Pacific region, in order to de-risk our economy and diversify our supply chains. In this context, the EU has recently signed a free trade agreement with New Zealand and negotiations are ongoing with India, Indonesia and Thailand. We are engaging also with Japan, South Korea, Singapore and India to ensure stable and diversified supply chains in the field of digital technologies and have proposed to our Indo-Pacific partners to work together on the sustainable extrac-

China markets show pressure is growing for Beijing to do more By Bloomberg News

hina’s stock and bond markets are giving a clear signal to policymakers that they need to take more steps to revive investor confidence. Stocks fell for a third day Tuesday, paring last week’s rebound that was driven by optimism over a market rescue package. The benchmark 10year bond yield dropped to the lowest level in more than two decades, as traders bets the People’s Bank of China will deploy more monetary stimulus to boost growth. The gloom over the world’s sec-

ond-biggest economy deepened this week as the liquidation of debtridden China Evergrande Group— once the nation’s largest developer —intensified concern about the embattled real estate sector. Investors see few reasons to be optimistic as earnings from major companies disappoint, while geopolitical risks resurface before the US presidential election later this year. “This pattern of new lows in bond yields and resumption of declines in equities highlights to us that the market is concerned that stimulus is not sufficient to address the current deflationary environ-

ment,” Morgan Stanley strategists including Jonathan Garner and Laura Wang wrote in a note. “Our economists continue to argue that a major fiscal package targeting the consumer is needed.” The Hang Seng China Enterprises Index, a gauge of Chinese stocks listed in Hong Kong, declined as much as 2.7 percent on Tuesday to be among the worst performer in Asia. BYD Co. was one of the biggest drags to the gauge after the EV giant’s profit missed estimates. The CSI 300 Index closed down 1.8 percent, even as overseas investors bought about 1.7 billion yuan

($237 million) of mainland shares on a net basis. The benchmark 10-year bond yield slipped to 2.47 percent, the lowest since 2002, as demand for haven assets rose amid expectations the economy will remained pressured by weak consumption and a property downturn. The renewed slide in equities shows investors are more likely to sell into any gains unless Beijing takes bolder steps. While investors initially cheered last week’s report on a stock-market-rescue package and the PBOC’s decision to cut the reserve requirement ratio, the rebound

proved short-lived as authorities failed to follow up with further steps. “Valuations are clearly cheap but for good reasons including self-inflicted damage to the tech and real estate sectors,” said Kieran Calder, head of equity research for Asia at Union Bancaire Privee. “Our view is that investor confidence cannot return until the property sector is finally fixed. Ongoing newsflow confirms that the property crisis is still hot and not easy to resolve.” Beijing faces an uphill task in luring back investors after a rout that has wiped out more than $6 trillion from the market value of Chinese

Think of the country’s textile industry, which used to have over 1.5 million spindles. Because of the unabated smuggling of “ukay-ukay,” the industry today has only about 150,000 operating spindles. Each spindle needs at least 35 workers on a 24-hour operation. How many Filipinos have since lost their jobs with the demise of our textile industry? But let me make this clear, I am not against importation. In fact, I would even encourage the importation of certain products, if these products are no longer contestable in the local market, if only to promote fair competition. It saddens me, however, that even the shelves of big grocery chains are also filled with imported snack treats or “chichiryas” such as kropeck, among many others. When will our manufacturers and consumers learn that smuggling, especially of products uncertified by the government for quality standards, can kill the nation and its people? It’s killing us softly. When will we ever learn? Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

tion and processing of critical raw materials, necessary for the green and digital transitions. The EU wants also to cooperate more actively with Indo-Pacific countries towards a green and sustainable future. The Green-Blue Alliance with the Pacific islands is helping to strengthen their climate resilience. Together with our G-7 partners, we have also agreed Just Energy Transition Partnerships with South Africa, Indonesia and Vietnam and the European Investment Bank is already investing €500 million to accelerate Vietnam’s green transition in a way that benefits both people and the planet. In short, we are well aware of the crucial importance of the EU’s engagement with the Indo-Pacific region. We are demonstrating it with a Pacific Day in the European Parliament on February 1, highlighting our burgeoning cooperation with our Pacific island partners. The next day, our third Indo-Pacific Ministerial Forum will bring together Foreign Ministers from the region and the EU. We will then hold our biennial EU-Asean ministerial meeting. In a world of geopolitical turbulence and great power rivalry, these three high-level meetings illustrate the strong and shared interest that the EU and the Indo-Pacific countries have to cooperate more closely in order to enhance their security, prosperity and resilience. Josep Borrell Fontelles is the High Representative of the European Union for Foreign Affairs and Security Policy and Vice President of the European Commission.

and Hong Kong stocks since a peak reached in 2021. The slump is reinforcing a structural shift that’s seeing everyone from active money managers to passive funds turn their back on the world’s second-largest stock market. Sentiment toward China stocks trading in Hong Kong was dealt a further blow as the city announced details about a planned national security law—a move that will have wide-ranging implications for Hong Kong’s status an international financial center. With assistance from Ishika Mookerjee, Abhishek Vishnoi, John Cheng and April Ma / Bloomberg

A16 Wednesday, January 31, 2024

BETTER THAN THOUGHT: GDP Q3 GROWTH ESTIMATE NOW 6%

HE economy’s performance in the third quarter of last year was better than initially estimated, prompting the Philippine Statistics Authority (PSA) to revise upward its preliminary growth estimates. The PSA said third-quarter GDP growth was revised to 6 percent from the initial estimate of 5.9 percent on the back of revisions in the performance of manufacturing; financial and insurance activities; and accommodation and food service activities. “[The revisions were] due to updated and availability of various data,” Officer-in-Charge, Assistant National Statistician Mark C. Pascasio told BusinessMirror. “All industries had revisions except public administration.” Based on PSA data, the manufacturing sector’s growth was revised upward to 1.8 percent from the initial estimate of 1.7 percent. It accounted for 0.025 percentage points of the revisions for third- quarter growth.

The PSA also said the growth of financial and insurance activities was revised to 9.6 percent from 9.5 percent. This accounted for 0.019 percentage points of the revision in economic performance. The data also showed accommodation and food service activities saw faster growth at 21 percent than the 20 percent that was initially expected. This accounted for 0.017 percentage points of the revision of third-quarter growth. Meanwhile, the growth rate of the Gross National Income (GNI) in the third quarter of 2023 was maintained at 12.1 percent annually. The annual growth of the Net Primary Income (NPI) from the Rest of the World was revised downward to 111.6 percent from 112.5 percent. The PSA revises the GDP estimates based on an approved revision policy—PSA Board Resolution No. 1, Series of 2017-053—which is consistent with international standard practices on national accounts revisions. Cai U. Ordinario

‘W-F-H’ setup still in flux in firms–jobs platform By Andrea E. San Juan @andreasanjuan

ORK-FROM-HOME keywords have been declining in job descriptions on Jobstreet by SEEK, a leading employment platform in Southeast Asia, as hirers are still figuring out the ideal work arrangement for employees amid transitioning out of the pandemic. Lewis Ng, chief operating officer (COO) of Asia at online hiring platform SEEK, said at the launch of the unified marketplace platform of Jobstreet, “One of the things that is interesting from the data that we’re seeing is that the key word ‘work from home’ is actually declining in our job descriptions.” Within Asia, Ng said, “Many companies are still understanding what works for them, and what doesn’t work for them and refining their approach to flexible working. And that’s evolving still.” This was echoed by Dannah Majarocon, managing director of SEEK Philippines, who said that for the Philippines, the dynamics of flexible work is “continuously evolving.” “Now that we’re in 2024, we don’t think that the evolution is done. Work from home as a search keyword is still very very strong, it means that the candidates are still looking for opportunities that will allow that,” Majarocon told reporters. Calling the work arrangement situation in the Philippines a “divergent stage,” the Jobstreet official said that with the available jobs in the market, “We’re seeing more hybrid work as an option.” Majarocon explained that both candidates and hirers are still “adjusting to what works the best for them and this would really depend on the industry and the nature because the [business process outsourcing] BPO is also very broad—you have support related to finance, technology, general consumer goods, etc.” “So it’s still very dynamic right now and it would be very interesting to see how this progresses until next year. But our anticipation is this year, more hybrid options are going to come into play and Filipinos are slowly also becoming more receptive to hybrid work,” she added. At a recent media briefing, Jack Madrid, President of the IT and Business Process Association of the Philippines (IBPAP), reported that for the IT and Business Process Management (IT-BPM)—commonly called the BPO industry— there has been a “gradual uptick”

of firms going back to on-site. “Currently, if I were to venture as to the aggregate number, we’re probably at about 60 percent onsite, but it’s not everyone. Some are 9010, Some are 20-80, some are 50-50 but in terms of aggregate number, it’s about 60 percent because some jobs can be done 100 percent WFH but some jobs need collaboration and they need to be together in the office,” Madrid explained. He explained that the BPO sector is composed of different industries that are delivering global services. On Tuesday, SEEK, a listed firm under Australian Securities Exchange, said it has merged its Asia Pacific (APAC) employment marketplaces SEEK, Jobstreet and JobsDB – which will operate under a single platform powered by SEEK’s world-class AI technology, while retaining their individual brands. “This integration brings together millions of talents and employers across the APAC region to connect more of the right people with the right work,” JobStreet by SEEK said in a statement on Tuesday. Jobstreet by SEEK is the “leading” employment platform in Southeast Asia. It is a subsidiary of SEEK, a diverse group of companies with a strong portfolio of online employment, educational, commercial, and volunteer businesses. SEEK is listed on the Australian Securities Exchange and has presence across the APAC region, including six Asian markets—Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Thailand—through the Jobstreet and JobsDB brands. SEEK said it attracts over 500 million visits a year in Asia. According to the employment platform, the unified marketplace platform “brings forth new [artificial intelligence] AI-powered advancements to the Jobstreet and JobsDB platforms in Asia, aimed at enhancing the employment experience for both employers and job seekers.” For employers, Jobstreet by SEEK said the new platform “deploys AI models to assess talent suitability and provide highly personalized recommendations by processing data from various sources, including resumes, job ad descriptions and the employer’s past behaviors—making hiring processes faster and more efficient.” With the “larger dataset” acquired across APAC, SEEK’s AI algorithms can provide even more precise and relevant matches between employers and talent, said the employment platform in its statement.

‘Create More bill will erase vital reforms in Create law’

By Cai U. Ordinario

@caiordinario

OCAL economists have raised alarm bells over the Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy (Create More) bill, saying this may only allow businesses to keep their incentives longer. In a statement on Tuesday, Action for Economic Reforms (AER) said the Senate should protect the reforms legislated in the Create Act of 2021 and reject the Create More bill which is currently lodged in Congress. The bill was approved by the House Committee on Rules for plenary deliberations on Tuesday. AER said the existing law provides that the President has the residual power to grant incentives to enterprises, but the President’s decisions are based on the criteria and recommendations of the Fiscal Incentives Review Board (FIRB).

This is no longer the case in the Create More bill. “The administration is nontransparent for its real reason to amend CREATE: bending to the will of business chambers that want more incentives. These are unnecessary or redundant incentives,” AER said. “If Congress and the Executive are bent on pushing for CREATE MORE, they must protect the core of the reform, which is granting rigorous, fair, and transparent fiscal incentives through the FIRB. Otherwise, CREATE MORE will mean creating more troubles,” it stressed.

AER said the inconsistencies between the Create Law’s provisions and its Implementing Rules and Regulations (IRR) as well as Bureau of Internal Revenue (BIR) revenue regulations and circulars. These have been recognized by the Department of Finance (DOF) and lawmakers, thus the Create More bill. However, AER said addressing these discrepancies do not need the amendment of the law. AER said clarifying the IRR and other issuances would be sufficient in addressing these inconsistencies. The economists said putting in place a data-driven tax administration system with features such as the digitalization of invoices (e-invoices) would address the issues with value-added tax (VAT) refunds. “It is disheartening to see the DOF leadership and our legislators, who championed the FIRB when CREATE was first passed, essentially push for its decapitation,” AER said.

House hurdle

EARLIER, the House Committee on Ways and Means finalized the proposed Corporate Recovery and Tax Incentives for Enterprises Act

(Create More), which sought to establish a 20-percent income tax rate for both domestic and foreign corporations under the enhanced deduction income tax regime. House Committee on Ways and Means Chairman Joey Sarte Salceda, who will sponsor the bill in the plenary, said the comprehensive changes aim to enhance fiscal and non-fiscal provisions under Title XIII of the National Internal Revenue Code of 1997—addressing disparities, clarifying rules, and fostering a more competitive business environment. According to Salceda, the bill seeks to enhance the fiscal and nonfiscal provisions under Title XIII of the National Internal Revenue Code of 1997, as amended. It will also reconcile dispar ities between the Cor porate Recovery and Tax Incentives for Enterprises (Create) Act and its implementing rules and regulations while addressing the concer ns about va lue -added t a x (VAT) administration affecting registered export and domestic market enterprises. The proposed Create More imposes a 20-percent income tax rate for both domestic and foreign corporations under the enhanced deduction income tax regime.

SENATOR Imee Marcos, who chairs the Committee on Electoral Reforms and People’s Participation, presides at Tuesday’s hearing on a Senate Resolution inquiring into the alleged payoffs and misrepresentations in the signature campaign for a People’s Initiative. At right is one of the witnesses who told senators how certain congressional officers made village officials gather signatures on the pretext that these were required to access “ayuda” or financial assistance. ROY DOMINGO

Witnesses confirm bribery, deceit in ‘P.I.’ drive By Butch Fernandez @butchfBM

& Samuel P. Medenilla @sam_medenilla

ENATORS on Tuesday heard testimonies from barangay and other local officials confirming their worst fear: that the controversial People’s Initiative (PI) signature drive to amend the Constitution is not grassrootsoriginated but politician-driven, and attended by apparent bribery. A marathon hearing by the Senate Electoral Reforms Committee, chaired by Sen. Imee Marcos, listened to witnesses from several areas in the south, who said that the campaign for them to gather signatures for a “PI” was made at the behest of some local politicians, including congressional offices. They were made to promise the local communities that the signatures are in exchange for “ayuda” (financial or material aid). However, according to one wit-

ness, the aid that they were told to promise the signatories did not come, leaving them in the awkward position of being suspected of having pocketed this. In his opening statement at the hearing, Sen. Ronald “Bato” Dela Rosa urged the Filipino people to recall their signatures from the People’s Initiative petition. He was certain the committee would ferret out the truth on the alleged payoffs and misrepresentation. “Please don’t try to take advantage of our poverty. This is the part that is most painful, most unacceptable for me. For self-seeking individuals to capitalize on poverty, using it to their advantage, advancing their ambition. We simply cannot let this slide,” Dela Rosa said at the hearing of the Committee on Electoral Reforms and People’s Participation on Senate Resolution No. 902, or the Signature Campaign for People’s Initiative and Senate Resolution No. 903, Providing for a System of Initiative Referendum.

Sen. Francis Tolentino moved to subpoena one Anthony Abad, said to be behind the signature drive for PI nationwide, to appear in the next hearing of the Committee. Committee chairperson Marcos approved the motion to subpoena, which was also raised by Minority Leader Aquilino Pimentel III and Dela Rosa. Marcos said Abad was invited to the hearing but failed to show up. There are reports he has gone abroad. For her part, Sen. Grace Poe, also in an opening statement, stressed that senators are not afraid of change, as they have been accused of by critics after they issued a manifesto rejecting the ongoing PI for being attended with deceit and bribery, and not being originated by communities but by politicians. Sen. Poe said “change must be for the good of the countrymen,” stressing that “if the initiators behind the People’s Initiative were sincere in their intent for economic change, then why didn’t they just state it in their petition.”

Poe asked: “Why was it stated in their petition....Voting Jointly at the Call of the Senate President or the Speaker of the House? Why didn’t they just ask our countrymen if they are willing to change the provisions that focus on the economy? It is clear that they have a different purpose here,” Poe said in Filipino. She said “this was worrisome for three reasons:1) the terms of those sitting officials could be extended not only by the House of Representatives but also by the Senate; 2) foreigners such as Philippine Offshore Gaming Operators (POGOS) would be allowed to own land in the country; 3) and elections could be cancelled in the coming years.”

Sheets mean ‘nothing’

ALSO at the hearing, DLSU Law Dean Chel Diokno told senators that, “because the proposed change is a revision [not just an amendment of the constitution], then the signature sheets are nothing.” Continued on A6

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, January 31, 2024

Ikea recalls USB Vietnam’s Vinfast plans to charger due to make EV batteries in PHL shock hazard

By Samuel P. Medenilla

@sam_medenilla

ietnamese electric vehicle (EV) maker Vinfast is keen on putting up a battery manufacturing plant in the Philippines, where key raw materials for EV batteries are readily available. President Ferdinand R. Marcos Jr. and Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual met with officials of the Vingroup, the parent company of Vinfast, last Monday to discuss investment opportunities. The President said Vingroup expressed its interest in establishing its EV battery production in the Philippines due to the country’s available reserves of nickel, cobalt, and copper. In a statement, the DTI said Vinfast already conducted an initial assessment on the feasibility of the project in October 2023 when it met with local nickel mining firms.

Marcos said the investment of Vinfast will help the government achieve its goal of mainstreaming EV use and modernizing public utility vehicles. Last year, Marcos signed Executive Order 12, which reduced the tariffs of certain EVs and their components for 5 years. “I am very happy to note your interest in expanding your operations to the Philippines and you’ve just begun organizing offices there. And I think there is much that you could do,” the President told Vingroup executives during the meeting. The DTI also said Vingroup is al-

Photo from www.ikea.com

By Andrea E. San Juan @andreasanjuan

A smart electric vehicle from Vinfast. Photo from www.vinfastauto.com

ready planning to sell its EVs in the country by April 2024. Pascual urged the Vietnamese firm to consider investing in the country’s tourism and healthcare sector. Vingroup is a multi-sector corporation that focuses on technology and industry, trade and services and social enterprise. In September 2023, the Department of Energy said the country’s EV industry is experiencing significant growth over the past eight years. Based on DOE data, the cumu-

lative number of EV registration as of end-2022 stood at 9,666. In the previous years, the number of registered EVs stood at 8,594 in 2021; 7,364 in 2021; 6,900 in 2019; 6,194 in 2018; 2,304 in 2017; 899 in 2016; 346 in 2015; and 145 in 2014. With an increasing number of EVs available in the market and a surge in individual interest, the DOE said the value proposition of EVs is becoming “increasingly evident,” especially in light of rising oil prices and growing concerns about air pollution.

Public hearings set for NPC petition By Lenie Lectura @llectura

he Energy Regulatory Commission (ERC) has scheduled consultations on the petition filed by the National Power Corp. (NPC) which seeks to implement an upward adjustment on the rates paid by consumers in 13 off-grid areas in the country. The existing subsidized approved generation rates (SAGR) for NPC’s Small Power Utilities Group (SPUG) areas in Mindoro, Marinduque, Palawan, Catanduanes, Masbate, Romblon, and Tablas are P5.6404 per kilowatt hour (kWh). The NPC proposed a new SAGR for residential amounting to P8.5982 per kWh and P10.0488 per kWh for commercial

Holcim uses more waste as alternative fuels–exec

ement manufacturer Holcim Philippines Inc. on Tuesday said it has reused over a million tons of qualified wastes into alternative fuels and raw materials for cement production in 2023. Using wastes as alternative fuels and raw materials for cement production is aimed at accelerating decarbonization and circularity of its operations, according to the company. In a statement, Holcim said the company’s plants co-processed 1.02 million tons of wastes as alternative fuels and raw materials, a 9-percent increase from 2022 to lessen the consumption of virgin natural resources and high-carbon traditional fuels in operations. The initiative is aligned with the company’s sustainability commitment to produce essential building materials with less natural resources and lower carbon emissions by reusing waste from industries and communities. Jonathan L. Mayuga

and industrial customers. For Camotes, Siquijor, and Bantayan, the NPC proposed a rate of P9.706 per kWh for residential and P11.0128 per kWh for commercial and industrial customers. The existing SAGR rate for these areas is pegged at P6.2553 per kWh. For Basilan, Sulu, Tawi-Tawi, the existing rate of P5.1167 per kWh could go up to P8.4465 per kWh for residential customers and P9.6106 per kWh for commercial and industrial customers. Under Section 70 of Republic Act 9136, or the Electric Power Industry Reform Act of 2001 (Epira), NPC is mandated to perform the missionary electrification function through its SPUG, and will be responsible for providing power generation, and its

associated power delivery systems, in areas that are not connected to the transmission lines. The SPUG plays a crucial role in providing basic and reliable power services to rural residents and community facilities in far-flung and unviable areas. The ERC will conduct public hearings starting next month up to October this year. “The ERC, through the Initial Order and Notice of Public/Virtual Hearing dated January 18, 2024 for ERC Case No. 2023-133 RC, set schedules for the determination of compliance with the jurisdictional requirements, expository presentation, pre-trial conference and presentation of evidence,” the agency said on Tuesday.

The ERC earlier adjusted the SAGR for the said areas to take effect supposedly this year. However, the agency said the adjusted rates only reflected adjustments due to excise tax. “For the first wave areas, the SAGR was approved on December 16, 2005. For the remaining small areas approved on March 7, 2011, this was adjusted by ERC just for excise tax in 2021. So, effectively, the price based on costs collected from off-grid consumers has not been adjusted since 2005/2011 and the deficiency has been made up by the UCME collected from on-grid consumers,” ERC Chairperson Monalisa Dimalanta said when sought for additional comment.

‘STRATEGIC INITIATIVES’ Finance

Secretary Ralph G. Recto convened a briefing with the Securities and Exchange Commission (SEC) management team led by SEC Chairman Emilio B. Aquino (right) on strategic initiatives to further boost the Philippine capital market at the SEC Headquarters in Makati City. Recto commended the digitalization initiatives of the SEC, emphasizing that these are key to improving the ease of doing business and fostering capital market development in the country. He specifically urged the SEC to team up with the Bureau of Internal Revenue Philippines for efficient data sharing to reconcile records of registered corporations and enhance tax collection efficiency. Recto also assured the SEC of the Department of Finance’s staunch support for its reforms and initiatives to further digitalize systems, boost the Philippine stock market, intensify consumer protection, enhance supervision and regulation of the financial system, promote trade and investments, and advance financial literacy and sustainability, among others.

Contributed photo

kano Philippines Inc., owner of the Ikea brand franchise in the country, is urging customers who own the dark gray Åskstorm 40W USB charger to stop using it due to thermal burn and electric shock hazard caused by wear and tear. In an advisory posted on the website of the Department of Trade and Industry (DTI), Ikea also called on customers who own the charger to contact the retailer for a full refund. “Safety is a top priority for Ikea and therefore we are recalling Åskstorm 40W USB charger dark gray due to thermal burn and electric shock hazard caused by wear and tear of the power cable,” the home furnishing retailer said. Ikea said it develops its products using a “rigorous” risk assessment and testing program to make sure that the products adhere to applicable laws and standards on the markets where they are sold. Despite this, the company said, “it has come to our attention that the power cable on the Åskstorm 40W USB charger dark gray may get damaged or broken, after being wrapped around a charger or bent back and forth after a long period of use.” Ikea said the damaged cable may lead to thermal burns and electric shock. The recalled charger can be

identified by the model number ICPSW5-40-1 which is found on the label on its backside, according to the retailer. With this, the company said the charger can be returned to any Ikea store for a full refund and that proof of purchase or receipt is not required. Based on the home furnishing retailer’s website, the USB charger is the fifth item that was issued with product recall. Last March 2023, the brand recalled the Blåvingad brand of fishing game due to a “potential” choking hazard. Ikea said the toy can potentially harm smaller children because it contains small objects. In February 2023, the brand recalled one of its mirror products as it had been “unexpectedly falling.” According to Ikea, it learned that some of the fittings that attach “Lettan” mirrors to the wall have been breaking. This has in turn led to some mirrors unexpectedly falling. The company urged all customers who own such mirrors with date stamps before and including 2105 to stop using it and visit the store for product replacement free of charge. According to Ikano Retail’s Fiscal Year (FY) 2023 Annual Report, the Philippines contributed EUR144 million to the firm’s turnover, 28.3 percent higher than the figure recorded in FY 2022.

Ayala Land buildings get Edge certification

reit Inc., the real estate investment trust of Ayala Land Inc., has received Edge Zero Carbon Certification for 8 office buildings comprising 354,000 square meters, making the two companies’ offices the largest certified portfolio in the Philippines. The eight Areit buildings awarded with certification were Glorietta 1 and 2 Corporate Center, Solaris One, McKinley Exchange Corporate Center in Makati, Vertis North Corporate Centers 1, 2 and 3 in Quezon City and The 30th Corporate Center in Pasig. The companies secured the certification on account of a 45.33 percent improvement in energy efficiency, 49.07 percent in water and 61.88 percent in embodied carbon material reduction, the companies said. “Our commitment to Edge Zero carbon is a testament to the value we see in developing environmentallyconscious developments to ensure a more sustainable future for the country,” Mariana Zobel de Ayala, Ayala Land’s senior vice president and group head for leasing and hospitality, said. Edge stands for Excellence in Design for Greater Efficiencies. It is an international green building certification and an innovation of the International Finance Corp. (IFC), the private sector arm of the World Bank Group.

Edge Zero Carbon is the highest level of certification granted to properties that have neutralized their carbon emissions through renewable energy use. It requires a minimum of 40 percent energy savings and 20 percent savings in water and embodied carbon in materials compared to the base case. Last September, Ayala Land and Areit signed a memorandum of understanding with the IFC to solidify their commitment to accelerating the transition to net zero. Under this agreement, the two companies aim to achieve Edge Zero Carbon across 1.5 million square meters of office space by 2025, establishing the Philippines’ largest Edge Zero Carbon office portfolio. “We commend Ayala Land and Areit on its latest Edge Zero Carbon certification, the highest level for Edge. This is a clear example of successfully translating climate ambitions into action and we look forward to seeing the rest of their office portfolio certified,” Jean-Marc Arbogast, IFC country manager, said. The two companies have shifted 88 percent of their office portfolio to renewable energy, equivalent to 1.2 million square meters of gross leasing space, enabling their office locators to attain their environment, social and governance objectives. VG Cabuag

Wednesday, January 31, 2024

Companies BusinessMirror

SEC: Meta Ads lacks permit to sell investment products

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) said the public must not invest in Meta Advertising Co. or Meta Ads Ltd., as it is selling investment products that are not registered with the agency. In its advisory, the SEC said the company is enticing prospective investors to put their money in a scheme called “tasking and recharging,” which it is conducting through WhatsApp and Telegram. “The public will be contacted

and informed via WhatsApp by certain persons from Meta Advertising Co. regarding an ongoing recruitment for a part-time job where the public will be required to perform certain tasks for a promise of receiving monetary rewards,” the SEC said. “That person will be required to perform two tasks by simply liking two videos for a promise of receiving P50 for every liked video.” Once the tasks are completed, the person will be given another task to perform which is to join a group named Meta and to like another video for a promise of

receiving P150. On the Telegram group, there are 23 tasks to perform in a day, in which for the first three tasks, the person is required to like certain videos. There will be Meta Investment Project in between the three tasks. This is when he will be required to invest a certain amount of money before he can continue. The money amounts to P5,000 to P46,800, in which the investor can earn 60 percent up to 80 percent or P3,000 up to P37,440. The SEC said the tasking and recharging scheme involves the offering and sale of securities in the form of investment contracts “as there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.”

Meta, the SEC said, does not have a secondary license or authority to solicit investments or offer securities. “Further, the tasking and recharging scheme, shows indication of a possible Ponzi scheme, where moneys from new investors are used in paying fake profits to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.” The offering and selling of securities in the form of investment contracts using the Ponzi scheme, which is fraudulent and unsustainable, is not a registrable security. The agency said it will not issue a license to sell securities to the public to persons or entities that are engaged in this business or scheme.

MUTUAL FUNDS

January 30, 2024

NAV

One Year Three Year

per share

Five Year

Y-T-D

Return*

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

215.78

-2.49%

-0.38%

-4.35%

-0.34%

1.4714

1.57%

5.61%

-0.37%

1.86%

-0.1%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9929

-4.1%

-0.23%

-6.32%

-2.17%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7023 -1.47%

-2.97%

-5.98% n.a

First Metro Consumer Fund, Inc. -a

-6.41% n.a

1.31%

-3.25%

1.94%

ATRAM Alpha Opportunity Fund, Inc. -a

0.6338

-9.89%

-3.42%

First Metro Save and Learn Equity Fund, Inc. -a 4.7201-5.01% -0.24%

2.39%

-0.14%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7091-5.47% -0.59% n.a n.a MBG Equity Investment Fund, Inc. -a

84.61

6.51%

PAMI Equity Index Fund, Inc. -a 44.0646

-4.95%

-0.64%

-3.6% n.a

2.69%

Philam Strategic Growth Fund, Inc. -a

457.97

-2.69%

-0.84%

-3.54%

-0.32%

2.37%

Philequity Dividend Yield Fund, Inc. -a

1.2063

-2.08%

2.29%

-1.91% n.a

0.08%

Philequity Fund, Inc. -a

-2.93%

1.02%

-2.48%

1.51%

34.4217

-4.25%

-7.07% n.a

0.42%

-3.41% n.a

2.21%

4.6298

-3.98%

0.26%

-2.83%

1.35%

2.65%

Philippine Stock Index Fund Corp. -a

770.38

-4.13%

0.06%

-2.9%

1.33%

2.65%

Soldivo Strategic Growth Fund, Inc. -a 0.6938

-4.42%

0.03%

-5.31% n.a

1.18%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4479

-0.22%

-4.37%

-0.4%

-4.4%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8738-4.37%

-0.23%

-3.19% n.a

United Fund, Inc. -a

0.65%

-3.54%

-0.28%

-3.02%

0.52%

2.4%

2.34%

Philequity PSE Index Fund, Inc. -a

3.178

1.61%

-0.45%

Philequity MSCI Philippine Index Fund, Inc. -a 0.8861-2.72%

2.48% 2.68%

2.8%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0828-4.3% n.a n.a n.a

2.58%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0142 n.a n.a n.a n.a 0.95% Philequity Alpha One Fund, Inc. -a

1.0225

-9.23%

-0.86% n.a n.a

0.34%

Philippine Stock Index Fund Corp. -a

935.29

-4.12% n.a n.a n.a

2.66%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 104.6922-3.55% 0.49%

-2.59%

2.03%

2.7%

Primarily invested in foreign currency securities (shares) AsiaPlus Equity Fund, Inc. -b $0.784

-17.52%

-15.27%

-4.27%

-1.57%

-4.62%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6895

11.96%

-0.15%

7.34% n.a

ATRAM 1.67%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a 2.2165

2.63%

-0.18%

-0.79%

0.49%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5281

1.31%

-2.34%

-2.49%

-1.33%

1.16%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5244

-3.91%

-0.49%

-1%

-0.67%

1.11%

0.192

-6.02%

-0.24% n.a n.a

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

0.13%

0.84% NCM Mutual Fund of the Phils., Inc. -a

1.9607

-3.22%

0.37%

0.47%

1.56%

PAMI Horizon Fund, Inc. -a

3.5975

-0.21%

-0.98%

-0.2%

0.7%

1.18%

Philam Fund, Inc. -a

15.7613

-0.42%

-1.65%

-0.87%

0.39%

1.27%

Solidaritas Fund, Inc. -a

2.0542

-0.63%

0.11%

-1.01%

1.27%

1.29%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4451

-1.27%

-0.45%

-2.05%

0.2%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9128

1.89%

-1.11% n.a

0.94%

-1.97%

1.43%

1.09%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9459-0.31%

-1.96% n.a n.a

0.6%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8606-3.88%

-2.14% n.a n.a

1.59%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.841-4.56%

-2.23% n.a n.a

1.87%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03262

-1.36%

-5.83%

-1.66%

0.08%

PAMI Asia Balanced Fund, Inc. -b $0.8761 -11.06%

-10.26%

-1.89%

-0.95%

-4.26%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3183

7.11%

-1.86%

4.39%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0353

2.4%

-4.01%

0.9% n.a

-1.78% 3.13%

0.62% -0.55%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 391.35

3.12%

1.76%

2.57%

2.32%

ATRAM Corporate Bond Fund, Inc. -a

1.9151

1.41%

0.21%

0.47%

0.11%

0.32%

Cocolife Fixed Income Fund, Inc. -a

3.3342

2.3%

1.19%

2.25%

3.75%

0.27%

Ekklesia Mutual Fund, Inc. -a 2.2801

2.62%

-0.25%

1.25%

1.51%

-0.26%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4525

1.33%

0.03%

1.97%

Philam Bond Fund, Inc. -a

2.05%

1.07%

0.13%

4.3035

0.22%

1.25%

1.93%

-2.52%

Philam Managed Income Fund, Inc. -a

1.3824

3.86%

1.5%

3.16%

1.84%

0.67%

Philequity Peso Bond Fund, Inc. -a

4.0356

2.47%

0.42%

2.52%

1.75%

0.03%

Soldivo Bond Fund, Inc. -a

2.49%

0.43%

2.93% n.a

0.18%

1.0516

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

3.3033

3.06%

1.04%

3.25%

2.29%

Sun Life Prosperity GS Fund, Inc. -a

2.27%

0.29%

2.42%

1.65%

-0.3%

1.7641

-0.2%

-0.29%

Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3

1.0137 n.a n.a n.a n.a

0.61%

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $496.07

2.76%

0.76%

1.97%

2.52%

ALFM Euro Bond Fund, Inc. -a Є214.3

1.62%

-0.77%

0.07%

0.81%

0.14%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0314-1.03% -7.08%

-1.96%

0.07%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248

2.9%

-2.06%

-0.08% n.a

0.17%

-3.92%

-3.15%

-0.56%

-1.09%

PAMI Global Bond Fund, Inc. -b $0.8526

-2.55%

-7.93%

Philam Dollar Bond Fund, Inc. -a

$2.2842

2.39%

-3.4%

0.76%

1.8%

-1.53%

1.44%

-0.72%

1.34%

1.6%

0.34%

-1.79%

-5.17%

-1.07%

0.38%

Philequity Dollar Income Fund, Inc. -a $0.0611178

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7476

-0.4%

-3.04%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.19

2.84%

1.82%

2.48%

2.06%

0.23%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1116 3.33%

1.96% n.a n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37922.87%

2.44%

2.04%

2.05%

0.29%

0.25%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.97

4.23% n.a n.a n.a

0.37%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.1012

2.74%

1.49%

1.59% n.a

0.34%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.76350.39% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a

1.507

17.54%

1.51%

9.49% n.a n.a

2.57% Sun Life Prosperity World Income Fund, Inc. -a,1

1.0133 n.a n.a n.a n.a

1.36%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.8019-2.74%

-6.47% n.a n.a

-0.1%

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.

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

January 30, 2024

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MEDCO HLDG PHIL STOCK EXCH

74,360 448,446,497 46,263 140,876,074 1,012,420 799 777,238 60,263,411 166,500 420,008 223,515 25,570 26,530,477.50 12,626,870 707,620 78,120 5,420 8,100 116,195

-22,845,684 -42,749,754 629,095 208,960 -20,342,471 44,000 -46,730 -3,902.50 -13,213,380.50 -5,949,835 34,840

INDUSTRIAL ACEN CORP 4.28 4.3 4.18 4.36 4.18 4.3 15,776,000 67,922,610 0.53 0.54 0.53 0.55 0.53 0.55 19,000 10,350 ALSONS CONS 0.74 0.75 0.75 0.75 0.74 0.74 122,000 90,890 ALTERNERGY HLDG ABOITIZ POWER 37.8 37.85 37.65 38.05 37.65 37.85 674,500 25,566,305 RASLAG 1.2 1.23 1.18 1.23 1.17 1.2 109,000 129,760 0.212 0.216 0.19 0.216 0.189 0.216 202,540,000 38,749,700 BASIC ENERGY 18.2 18.22 18.22 18.3 18.2 18.2 189,900 3,458,986 FIRST GEN FIRST PHIL HLDG 64.7 65 64.8 65 64.7 64.7 98,470 6,371,355 368 373 376 376.8 368 368 253,810 94,258,722 MERALCO 17.8 17.88 18.04 18.08 17.8 17.8 1,500,800 26,848,868 MANILA WATER 3.31 3.38 3.32 3.38 3.31 3.38 148,000 492,140 PETRON PETROENERGY 4.31 4.68 4.31 4.69 4.31 4.69 23,000 101,350 4.6 4.7 4.22 4.73 4.22 4.7 13,000 56,090 PHX PETROLEUM 7.3 7.4 7.4 7.44 7.3 7.4 20,900 154,631 REPOWER ENERGY 31.75 31.8 31.8 32.25 31.7 31.8 1,416,100 45,034,070 SEMIRARA MINING SYNERGY GRID 7.65 7.69 7.7 7.73 7.65 7.65 513,800 3,942,550 SHELL PILIPINAS 10.6 10.76 10.78 10.78 10.6 10.76 94,200 1,006,464 6.98 7 7 7 6.98 6.98 30,600 214,046 SPC POWER 0.65 0.66 0.69 0.69 0.65 0.66 6,130,000 4,068,330 AGRINURTURE AXELUM 2.3 2.31 2.2 2.3 2.2 2.3 167,000 381,200 CNTRL AZUCARERA 12.3 12.5 11.72 12.3 10.54 12.3 47,500 578,138 32 32.35 32.15 33 31.9 32 2,666,500 85,400,360 CENTURY FOOD 6.1 6.25 6.1 6.1 6.1 6.1 200 1,220 DEL MONTE DNL INDUS 6.46 6.53 6.66 6.76 6.43 6.46 4,283,000 28,179,747 EMPERADOR 20.45 20.5 20.6 20.7 20.45 20.5 1,121,600 23,018,820 48.6 49 49 49 48.55 49 14,300 698,700 SMC FOODANDBEV 0.66 0.67 0.67 0.67 0.65 0.67 3,561,000 2,355,450 FIGARO COFFEE ALLIANCE SELECT 0.455 0.48 0.455 0.455 0.455 0.455 10,000 4,550 FRUITAS HLDG 0.85 0.86 0.88 0.88 0.85 0.85 577,000 503,110 162 163.9 161.7 164.6 161.7 164 290 47,504 GINEBRA 259 260 262.4 263.2 258.8 259 452,570 117,587,610 JOLLIBEE KEEPERS HLDG 1.45 1.46 1.46 1.46 1.45 1.46 140,000 203,990 MAXS GROUP 3.3 3.36 3.36 3.36 3.31 3.36 69,000 230,650 8.68 8.69 8.43 8.68 8.41 8.68 6,656,600 57,341,055 MONDE NISSIN 10.58 10.6 10.68 10.68 10.58 10.58 49,800 527,024 SHAKEYS PIZZA ROXAS AND CO 0.415 0.43 0.42 0.43 0.415 0.415 410,000 170,700 2.9 2.91 2.9 2.91 2.9 2.91 7,627,000 22,121,260 RFM CORP ROXAS HLDG 0.63 0.68 0.64 0.67 0.64 0.67 19,000 12,220 0.061 0.062 0.062 0.062 0.062 0.062 110,000 6,820 SWIFT FOODS 112.4 112.5 113.8 114.4 112.5 112.5 1,710,140 192,803,204 UNIV ROBINA VITARICH 0.53 0.54 0.5 0.54 0.5 0.54 8,325,000 4,377,710 CONCRETE B 34.05 54.45 54.65 54.65 54.65 54.65 300 16,395 0.9 0.91 0.91 0.92 0.9 0.9 133,000 119,860 CEMEX HLDG 0.65 0.67 0.65 0.66 0.65 0.66 247,000 161,100 EC VULCAN CORP EEI CORP 5.9 5.99 5.96 6.09 5.9 5.9 472,500 2,809,159 MEGAWIDE 3.32 3.33 3.35 3.35 3.32 3.33 210,000 699,150 19.9 20 20 20 19.8 20 84,300 1,685,650 PHINMA 0.38 0.39 0.375 0.39 0.375 0.39 20,000 7,650 TKC METALS CROWN ASIA 1.65 1.75 1.75 1.75 1.62 1.75 1,063,000 1,853,420 EUROMED 0.73 0.8 0.8 0.8 0.8 0.8 1,000 800 5.19 5.3 5.3 5.3 5.3 5.3 10,000 53,000 PRYCE CORP 13 13.58 13.86 13.86 12.64 13.6 33,800 441,550 CONCEPCION GREENERGY 0.23 0.233 0.232 0.233 0.23 0.233 11,240,000 2,617,410 INTEGRATED MICR 2.46 2.54 2.39 2.55 2.39 2.45 162,000 401,510 1.23 1.24 1.2 1.25 1.19 1.24 4,722,000 5,800,390 IONICS 4.94 5.64 5.64 5.64 5.64 5.64 1,300 7,332 PANASONIC SFA SEMICON 2.47 2.48 2.44 2.48 2.44 2.48 1,305,000 3,204,800 CIRTEK HLDG 1.86 1.88 1.89 1.91 1.84 1.88 222,000 419,210

30,088,330 1,894,995.00 -47,000 -373,748 -49,846,590 -9,855,082 -10,299,380 -2,009,625 -220,936 -55,150 -11,500 -11,348,315 -14,846,023 -8,886,580 -53,280 569,580 4,550 22,300 -65,688,582 1,450 -56,660 3,793,533 497,260 -1,844,430 -46,122,202 -540 900 501,500 16,680 -85,000 -393,252 4,660 -77,070 -210,500 13,480

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR COSCO CAPITAL DMCI HLDG GT CAPITAL JG SUMMIT KEPPEL HLDG B LOPEZ HLDG LT GROUP PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

-43,301,560 -28,396,095 -10,585,854 -12,733,108 -5,624,760 -30,366,870 -9,024,551 41,732,355 -16,331,279 -

HOLDING & FRIMS

Return

www.businessmirror.com.ph

33.8 143.4 6.54 110.4 31.5 5.97 8.74 56.1 8.75 18.66 55.5 22.05 71.25 44.4 1.1 2.51 2.7 0.09 183.1

1.07 660 47.9 11.3 11.64 5.02 10.64 656 39.1 5.51 4.38 9.5 1.32 2.63 0.96 923 108.1 97.05 0.27

34 143.6 6.7 112 31.55 7.99 8.78 57 8.8 18.7 55.75 23.45 71.3 44.7 1.14 2.56 2.72 0.115 189

1.09 665 48.5 11.32 11.98 5.03 10.7 659 39.25 7.94 4.39 9.51 1.5 2.65 0.98 924 109.7 100.9 0.275

33.8 144.4 6.7 112 31.35 7.99 8.79 56.6 8.8 18.66 55.75 23 72.4 44 1.19 2.51 2.71 0.088 184

1.08 662 48.1 11.3 11.98 5.03 10.6 644 37.5 7 4.3 9.51 1.3 2.65 0.98 925 111 97 0.27

33.8 144.6 6.71 112.7 31.55 7.99 8.79 57.7 8.8 18.8 55.75 23.45 72.4 44.9 1.19 2.56 2.71 0.091 189

1.09 669 48.6 11.42 12 5.03 10.7 659 39.45 7 4.38 9.52 1.3 2.65 0.98 928 111 97.05 0.275

33.8 142.2 6.7 110.4 31.35 7.99 8.65 56.1 8.75 18.66 55.5 23 71.3 43.8 1.09 2.51 2.71 0.088 183

1.07 660 47.95 11.3 11.62 5 10.6 640.5 37.5 7 4.3 9.46 1.3 2.65 0.98 918 107.1 97 0.27

33.8 143.4 6.7 110.4 31.55 7.99 8.74 56.1 8.75 18.68 55.75 23.45 71.3 44.7 1.14 2.56 2.71 0.091 189

1.09 660 47.95 11.32 12 5.03 10.7 659 39.1 7 4.38 9.5 1.3 2.65 0.98 923 108.1 97.05 0.275

2,200 3,125,540 6,900 1,266,380 32,200 100 89,500 1,064,350 19,000 22,500 4,020 1,100 370,910 283,600 632,000 31,000 2,000 90,000 630

1,094,000 264,090 942,500 2,137,400 5,700 249,000 4,329,900 443,230 5,936,900 2,500 340,000 2,517,300 5,000 16,000 29,000 292,670 224,730 90 20,000

1,185,760 175,063,580 45,293,205 24,238,986 68,346 1,249,830 46,232,664 288,735,930 231,291,415 17,500 1,488,060 23,912,944 6,500 42,400 28,420 270,264,900 24,450,528 8,731 5,450

PROPERTY ARTHALAND CORP 0.43 0.45 0.44 0.44 0.44 0.44 10,000 4,400 5 5.92 6.38 6.38 5.95 5.95 200 1,233 ANCHOR LAND 33 33.25 33.5 33.8 33 33 7,636,100 254,043,095 AYALA LAND AYALA LAND LOG 1.72 1.73 1.71 1.74 1.7 1.72 250,000 428,830 ALTUS PROP 8.92 9.36 8.95 8.95 8.9 8.9 40,000 356,488 1.16 1.17 1.17 1.17 1.16 1.17 268,000 311,570 ARANETA PROP 32.65 32.7 31.7 32.85 31.65 32.7 5,102,100 165,264,995 AREIT RT A BROWN 0.65 0.66 0.66 0.66 0.66 0.66 1,000 660 0.69 0.7 0.71 0.71 0.7 0.7 2,000 1,410 CITYLAND DEVT 2.62 2.64 2.63 2.64 2.62 2.64 82,000 215,660 CEB LANDMASTERS 0.265 0.275 0.275 0.275 0.265 0.275 310,000 83,200 CENTURY PROP CITICORE RT 2.66 2.67 2.67 2.69 2.65 2.67 796,000 2,120,450 DOUBLEDRAGON 7.68 7.77 7.74 7.8 7.7 7.7 118,400 912,370 1.22 1.23 1.22 1.23 1.21 1.23 845,000 1,028,350 DDMP RT 5.8 5.88 5.88 5.88 5.88 5.88 10,000 58,800 DM WENCESLAO EMPIRE EAST 0.129 0.13 0.125 0.13 0.125 0.13 6,850,000 873,970 EVER GOTESCO 0.275 0.285 0.28 0.29 0.28 0.29 450,000 128,150 3.11 3.12 3.13 3.14 3.1 3.11 1,040,000 3,236,920 FILINVEST RT 0.68 0.69 0.68 0.69 0.67 0.69 777,000 526,510 FILINVEST LAND 8990 HLDG 8.71 8.95 8.89 8.98 8.89 8.98 121,600 1,088,457 0.49 0.51 0.51 0.51 0.5 0.5 211,000 105,540 PHIL INFRADEV 0.77 0.79 0.8 0.8 0.76 0.79 15,000 11,930 CITY AND LAND 1.96 1.97 1.95 1.98 1.95 1.96 7,819,000 15,408,840 MEGAWORLD MRC ALLIED 1.32 1.34 1.42 1.42 1.3 1.34 1,024,000 1,365,440 13.7 13.74 13.32 13.8 13.32 13.74 249,000 3,399,098 MREIT RT 1.52 1.53 1.55 1.55 1.53 1.53 83,000 127,600 PREMIERE RT 2.3 2.55 2.3 2.35 2.3 2.35 22,000 50,750 PRIMEX CORP RL COMM RT 5.28 5.43 5.4 5.47 5.28 5.28 2,003,600 10,684,604 ROBINSONS LAND 15.9 15.92 15.74 15.94 15.74 15.9 1,543,400 24,497,500 0.15 0.169 0.169 0.169 0.169 0.169 70,000 11,830 PHIL REALTY 1.4 1.44 1.38 1.45 1.38 1.44 5,000 7,150 ROCKWELL SHANG PROP 3.86 3.91 3.9 3.91 3.9 3.91 38,000 148,520 3.3 3.4 3.49 3.5 3.49 3.5 5,000 17,460 STA LUCIA LAND 33.7 33.85 33.7 34.05 33.65 33.7 6,727,500 227,486,995 SM PRIME HLDG 2.28 2.38 2.28 2.38 2.28 2.38 2,000 4,660 VISTAMALLS SUNTRUST RESORT 0.8 0.82 0.85 0.85 0.82 0.82 10,000 8,330 1.74 1.75 1.73 1.74 1.73 1.74 589,000 1,020,300 VISTA LAND VISTAREIT RT 1.73 1.74 1.73 1.74 1.73 1.73 265,000 458,790 SERVICES ABS CBN 4.6 4.62 4.5 4.62 4.5 4.61 285,000 1,301,900 8.87 8.88 8.87 8.9 8.86 8.88 154,200 1,370,223 GMA NETWORK 1,727 1,728 1,700 1,728 1,698 1,728 33,640 57,533,090 GLOBE TELECOM PLDT 1,275 1,298 1,283 1,303 1,275 1,275 87,490 112,666,890 APOLLO GLOBAL 0.012 0.013 0.013 0.014 0.013 0.013 82,200,000 1,068,700 9.17 9.25 9.24 9.3 9.14 9.25 5,240,800 48,426,704 CONVERGE 3 3.07 3 3 3 3 1,000 3,000 DFNN INC DITO CME HLDG 2.38 2.4 2.4 2.42 2.36 2.38 1,823,000 4,361,070 NOW CORP 1.11 1.14 1.13 1.14 1.1 1.12 2,698,000 2,994,570 0.124 0.129 0.131 0.131 0.125 0.125 5,300,000 666,670 TRANSPACIFIC BR 16.22 16.98 16.1 16.98 16.1 16.5 9,300 153,210 ASIAN TERMINALS CHELSEA 1.47 1.48 1.48 1.48 1.48 1.48 50,000 74,000 32.7 32.85 32.65 33.1 32.65 32.7 141,600 4,649,110 CEBU AIR 238.8 239.4 236.2 240.8 234.2 239.4 1,227,850 292,376,098 INTL CONTAINER 3.93 3.95 3.96 3.96 3.92 3.93 438,000 1,725,030 MACROASIA METROALLIANCE A 0.43 0.5 0.44 0.44 0.44 0.44 80,000 35,200 5.3 5.38 5.39 5.39 5.3 5.38 11,800 62,732 PAL HLDG 0.78 0.82 0.78 0.82 0.78 0.82 181,000 141,320 HARBOR STAR 0.06 0.063 0.061 0.063 0.06 0.063 4,330,000 270,800 BOULEVARD HLDG WATERFRONT 0.4 0.41 0.41 0.41 0.41 0.41 70,000 28,700 8.5 8.73 8.73 8.73 8.73 8.73 3,000 26,190 CENTRO ESCOLAR 565 584 566 584 565 584 520 295,560 FAR EASTERN U 6.56 7.2 7.2 7.2 7.2 7.2 1,600 11,520 IPEOPLE STI HLDG 0.54 0.55 0.55 0.56 0.54 0.54 403,000 221,050 BELLE CORP 1.15 1.16 1.16 1.17 1.14 1.16 542,000 624,630 10.74 10.8 10.8 10.92 10.68 10.74 6,558,500 70,626,618 BLOOMBERRY 4.37 4.38 4.25 4.42 4.25 4.38 126,000 548,110 PACIFIC ONLINE PH RESORTS GRP 0.82 0.83 0.82 0.83 0.82 0.82 432,000 354,440 PREMIUM LEISURE 0.7 0.71 0.71 0.71 0.69 0.71 4,723,000 3,311,800 8 8.01 8.02 8.09 8 8.01 3,037,700 24,349,631 DIGIPLUS 4.81 5.74 5.74 5.74 5.74 5.74 1,000 5,740 PHIL RACING PHILWEB 1.77 1.79 1.85 1.85 1.76 1.77 113,000 200,740 0.155 0.156 0.157 0.158 0.155 0.156 5,100,000 793,600 ALLDAY 1.12 1.13 1.12 1.13 1.11 1.12 1,066,000 1,194,350 ALLHOME 1.29 1.3 1.3 1.3 1.29 1.29 20,000 25,880 METRO RETAIL PUREGOLD 28.3 28.4 28.4 28.4 28 28.4 1,039,200 29,416,570 ROBINSONS RTL 35.75 35.8 36.35 36.35 35.8 35.8 904,100 32,466,430 PHIL SEVEN CORP 78 79.9 79 80 79 79.9 88,810 7,097,528 2.65 2.68 2.65 2.66 2.62 2.65 847,000 2,240,020 SSI GROUP 1.32 1.42 1.45 1.45 1.42 1.42 12,000 17,370 UPSON INTL CORP WILCON DEPOT 21.6 21.65 21.9 21.95 21.65 21.65 1,213,700 26,304,325 APC GROUP 0.215 0.219 0.215 0.215 0.215 0.215 50,000 10,750 2.35 2.79 2.14 2.35 2.14 2.35 19,000 44,000 EASYCALL 0.31 0.315 0.32 0.32 0.31 0.315 160,000 49,750 MEDILINES PRMIERE HORIZON 0.162 0.164 0.165 0.165 0.161 0.165 560,000 91,160 4.4 4.64 4.49 4.64 4.49 4.64 27,000 122,980 SBS PHIL CORP MINING & OIL ATOK 4.71 4.8 5.05 5.05 4.71 4.71 11,000 55,210 2.91 2.92 2.87 2.97 2.85 2.92 5,238,000 15,235,620 APEX MINING ATLAS MINING 3.38 3.45 3.47 3.47 3.45 3.45 51,000 175,970 4.6 4.63 4.58 4.63 4.58 4.63 98,000 450,500 BENGUET A 0.135 0.14 0.135 0.135 0.135 0.135 30,000 4,050 COAL ASIA HLDG 2 2.03 2.01 2.03 1.99 2 179,000 357,960 FERRONICKEL GEOGRACE 0.036 0.041 0.04 0.041 0.039 0.041 2,200,000 88,900 0.072 0.076 0.073 0.074 0.072 0.074 2,350,000 172,400 LEPANTO A 0.073 0.074 0.075 0.075 0.074 0.074 50,000 3,720 LEPANTO B 0.0044 0.0046 0.0044 0.0044 0.0044 0.0044 1,000,000 4,400 MANILA MINING A MARCVENTURES 0.85 0.86 0.85 0.88 0.85 0.86 409,000 350,780 NICKEL ASIA 4.81 4.83 4.75 4.83 4.75 4.83 588,000 2,823,240 0.64 0.65 0.64 0.66 0.64 0.65 25,000 16,340 ORNTL PENINSULA 3.05 3.07 3.11 3.11 3.03 3.07 988,000 3,020,190 PX MINING ENEX ENERGY 4.65 5.15 4.82 5.15 4.82 5.15 300 1,479 0.008 0.0081 0.008 0.008 0.008 0.008 32,000,000 256,000 ORNTL PETROL A 0.0079 0.008 0.0079 0.0079 0.0079 0.0079 1,000,000 7,900 PHILODRILL 3.73 3.8 3.73 3.9 3.73 3.8 244,000 917,580 PXP ENERGY PREFFERED ACEN PREF B 1,070 1,079 1,075 1,077 1,075 1,077 2,410 2,595,540 2,486 2,506 2,482 2,486 2,482 2,484 75 186,390 AC PREF AR 437.2 479.8 480 480 432 479.8 2,740 1,201,718 ALCO PREF D CEB PREF 33.95 34.9 34 34 33.95 33.95 1,300 44,150 94.9 94.95 95 95 94.9 94.95 45,250 4,298,680 DD PREF 952.5 980 953 980 952 980 900 870,720 GTCAP PREF B 922 945 946.5 946.5 946.5 946.5 10 9,465 JFC PREF B MWIDE PREF 2B 94.5 98 98 98 98 98 4,000 392,000 93.1 94 94 94 93 94 16,020 1,492,430 MWIDE PREF 4 25.05 34.45 33.9 34.95 33.9 34.95 200 6,885 PNX PREF 3B 220 234.8 234.8 234.8 234.8 234.8 50 11,740 PNX PREF 4 PCOR PREF 4C 980 1,000 1,000 1,000 1,000 1,000 30 30,000 72.4 72.8 72.8 72.8 72.8 72.8 200 14,560 SMC PREF 2F 70.65 72.75 71.1 71.1 70.25 70.25 14,100 992,319 SMC PREF 2I 70.55 70.65 70 70 70 70 500 35,000 SMC PREF 2K SMC PREF 2L 78 78.5 78 78.5 78 78 2,500 195,500 78 78.5 78 78 78 78 1,500 117,000 SMC PREF 2N 79.5 79.55 79.4 79.6 79.4 79.5 10,000 794,969 SMC PREF 2O 48 48.5 48.5 48.5 48.5 48.5 1,600 77,600 TECH PREF B2D

-74,065,330 46,340 -28,528,250 -976,440 22,545 -4,920 12,700 -2,900 526,970 99,990 -1,600 -3,635,690 1,204,112 -8,209,958 -1,506,030 1,380 18,676,940 -774,640 175,510 -54,789,510 -34,074,877 -3,000 -586,360 700,530 -3,950,840 -35,978,838 35,490 -2,619 -50,220 -443,570 -10,119,386 3,280 35,700 -9,382,050 -61,430 6,500 -1,244,310 -15,189,570 65,766 -795,000 -15,950 -9,176,745 -3,100 -63,220 -184,200.00 28,680 -316,560 -496,510 -166,320 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 4.25 4.7 8.27 8.93 8.25 8.5 8.25 8.5 15,000 125,000 GMA HLDG PDR

TECH WARRANT

WARRANTS

0.265

0.28

0.275

0.28

0.275

130,000

35,800

SMALL, MEDIUM & EMERGING

0.425 0.425 0.41 0.415 110,000 45,900 4,150 0.73 0.73 0.73 0.73 2,000 1,460 0.96 1.01 0.96 1.01 1,076,000 1,076,820 0.65 0.67 0.64 0.64 404,000 267,950 0.06 0.06 0.06 0.06 7,210,000 432,600 1.89 1.89 1.89 1.89 6,000 11,340 11,340 1.02 1.03 1 1.01 554,000 559,480 23,230 0.27 0.27 0.25 0.26 920,000 232,700 -

EXHANGE TRADE FUNDS

104.8 105.3 104.7 104.7 4,190 439,435 -6,346

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS LFM PROP MAKATI FINANCE MERRYMART XURPAS

FIRST METRO ETF

0.41 0.73 0.97 0.64 0.06 1.7 1 0.26

104.5

0.415 0.74 1 0.65 0.066 1.89 1.02 0.265 104.7

www.businessmirror.com.ph

Entrepreneur

Enterprises pressed to ‘embrace’ digital era By Roderick L. Abad Contributor

@rodrik_28

N today’s digital era, staying ahead is not just an edge but a necessity that is crucial for enterprises to thrive in this ever-evolving business landscape. “It really is to be open minded on growth. [The year] 2024 is really for everybody to really grasp for us to grow together,” TechSupport CEO Kernan Motoomull said during the Transformation Accelerator Summit: Fast-Track Your Business in a Digital Age held at the Sheraton Manila Bay last January 25. Accepting new business ideas like finding ways and tools to become more efficient in taking care of customers or clients better will then lead to running the entire organization in a productive and competent manner. “That’s the No. 1 rule of any business. And then, of course, because that’s in your mind, all the rest will follow,” he noted.

IT integration

INTEGRATING advanced information technology (IT) like artificial intelligence (AI) and automation to the business is pivotal to its digital transformation. Doing so, entrepreneurs, business owners, and decision-makers need to fully know how highly required it is to consolidate to their entity. “The challenge really is understanding. If you don’t see that there’s a need, that’s a big problem. You need to be in an open state. Absorb new things and, then, try to be an observer before trying to be the owner of your company. Sometimes you need to step back and understand what’s the problem,” Motoomull said. Realizing its necessity, he suggested finding and tapping somebody who really knows stuff in IT and is trustworthy and competent enough to apply it to the business. “That perhaps gives you a different perspective on how you can grow your business, scale it to the point that you want your business to be. That’s the main area of IT that you need to address,” he explained. Since an IT person is not just about a technician fixing the software and hardware technologies behind the operation of a certain business or organization, he or she has a lot of potentials to contribute to business growth. “IT can lead to like regeneration of services, create a lot of prospects for your business, or awareness of things for your specific target market,” said the CEO of TechSupport.

Enhancing transport, storage capabilities

HAVING a reliable logistics and warehousing capacity is a very important aspect in the operations of a company, especially if there are goods that need to be delivered. Logistics refers to the detailed planning, organization, management, and implementation of an efficient flow and storage of goods from the point of origin to the point of consumption. Warehousing involves the storage of goods, inventory management, and handling of freight. Inefficient movement and stocking of goods could create problems not only to the business itself, but also to the customers. Hence, it’s a no-brainer to outsource it. Outsourcing is one of the trends nowadays that offers many gains to the business. It saves a lot of resources that should have been used in building a warehouse, manpower, a fleet of vehicles, and an administrative team to set it up just to facilitate all the cargoes, etc. “Also, you offload the headaches of a logistics to a provider,” Impextic Inc. President Louraine Motoomull added. The future of logistics and warehousing is being shaped by the rise of one-stop-shop providers. The integration of advanced technologies such as AI and automation offering capabilities like real-time tracking system and a datadriven decision-making, and the growing focus on sustainability that involves practices like using Efficient Resources Management (ERP) for “green” packaging are the three trends essential for any business looking to stay ahead in this rapidly-evolving business field.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, January 31, 2024 B3

DTI-CIG calls on creative start-ups to join twin proficiency programs

By Andrea E. San Juan

he Department of Trade and Industry (DTI), through its Competitiveness and Innovation arm, is inviting creative start-up firms to onboard to their two programs both designed to support and strengthen creative industries in the Philippines. In a statement Thursday, the DTI-Competitiveness and Innovation Group (CIG) said Trade Undersecretary Rafaelita M. Aldaba spearheaded DTI-CIG’s launching of partnership with start-up accelerator Launchgarage. DTI-CIG and Launchgarage launched the “creatives edition” of the Incubation, Development, and Entrepreneurial Assistance (IDEA) and Accelerating Development, Valuation, and Corporate Entrepreneurship (ADVanCE) programs which are “aimed at providing customized support to creative start-ups in the Philippines to help them become market and investment-ready.” According to the Trade department’s Competitiveness and Innovation arm, the IDEA for Creatives

will onboard 10 early-stage creative start-ups and enterprises to support and enhance their “entrepreneurial capacity and readiness.” “Under the program, selected start-ups will participate in various educational workshops aimed at transforming their inventive business concepts into successful enterprises,” DTI-CIG said in its statement. Each start-up will be paired with “experienced” mentors and coaches to guide them in their start-up journey, the DTI-CIG said. “The program culminates with a showcase event, where start-ups can present their ventures to program stakeholders, angel investors, venture capitalists, corporate representatives, and key figures in the

ecosystem,” the CIG said. DTI-CIG unveiled the requirements to be eligible to apply in the IDEA program. “Early-stage start-ups that are operating in the Philippines with a minimum viable product, registered or in the process of registration to the Securities and Exchange Commission [SEC] or DTI, with 60 percent of its founders Filipino, and with at least two founders committed to the IDEA program, are eligible to apply,” DTI-CIG said. Meanwhile, the competitiveness and innovation group of DTI said an initial pool of 10 to 15 start-ups would be chosen to participate in the ADVanCE for Creatives. “After the preliminary screening, they will be assessed based on organizational capacity, business maturity, and readiness levels. From there, five participating start-ups will be selected to proceed to the acceleration phase and undergo intensive training based on the specific interventions identified from the needs assessment,” DTI-CIG noted. As to the eligibility requirements for the ADVanCE program, the competitiveness and innovation group said start-ups should be in their growth and expansion stage and are based in the country with at least two years of operations with revenue, SEC or DTI-registered, with 60 percent of its founders Filipinos, and with at least two founders committed to

the ADVanCE program. For her part, Aldaba, as head of DTI’s CIG emphasized that the programs are a “testament” to the Philippine government’s “belief in the immense potential of Filipino creativity and entrepreneurship.” By providing the “much-needed” support and platform, Aldaba said, “we are setting the stage for creative start-ups to not only thrive locally but also make a significant impact on the global stage.” “The creative sector is a vital component of our economy and cultural identity, and through initiatives like these, we aim to foster an environment where ideas can flourish, talents are honed, and success stories are born,” the Trade official also noted. Citing data from the Philippine Statistics Authority (PSA), Aldaba earlier told reporters that the creative economy in 2022 amounted to P1.6 trillion, contributing 7.3 percent to the economy. According to the PSA, this represents an increase of 12.1 percent from the P1.43 trillion recorded value in 2021. In 2022, Trade and Industry Secretary Alfredo E. Pascual said the Philippines is targeting to become the top creative economy in Asean by 2030. (Full story here: https://businessmirror.com.ph/2022/07/29/ dti-chief-phl-aims-to-becometop-creative-economy-in-asean-

by-2030/#google_vignette). Moving forward, the DTI invited all creative start-ups within the domains of audiovisual media, digital interactive media, creative services, design, publishing and printed media, performing arts, visual arts, traditional cultural expressions, and cultural sites to apply to the programs. “We call on all eligible creative start-ups to seize this unparalleled opportunity. Join us in this endeavor to transform your innovative ideas into successful enterprises and become part of a movement that celebrates and elevates Filipino talent and ingenuity,” Aldaba said. According to the DTI-CIG, the IDEA and ADVanCE programs are aligned with RA 11337, or the Innovative Startup Act, aimed at providing benefits and programs to strengthen, promote, and develop the Philippine start-up ecosystem. “Their latest cohorts will focus on the creative industries in accordance with Republic Act No. 11904 or the Philippine Creative Industries Development Act [PCIDA], which mandates the development of a vibrant and globally competitive Philippine creative sector by protecting and enhancing their rights and boosting economic capacities,” DTI-CIG said. The competitiveness and innovation group said the application period is until January 31, 2024.

DOXA Talent aiming to double Essential toolkit for sales-makers recruitment amid rising SME demand for offshore manpower A S sales leaders, we need to consciously nurture and cultivate our team’s sales-maker mindset. And there are five essential sales-maker tools that we must ensure that our team carries with them in their toolkit—product competence, effective selling skills, practical market intelligence, strategic planning, and a healthy outlook in life.

EEING more opportunities in workforce outsourcing due to the ensuing global manpower shortage, DOXA Talent, a leading offshoring solutions provider, is aiming to double its recruits from the Philippines to help its client-companies, especially small and medium enterprises (SMEs), expand their businesses and build global teams across multiple continents. “Last year we grew by over 100 percent [in terms of the number of team members], and I expect this to grow by another 100 percent this year,” DOXA Talent Chief Executive Officer (CEO) David Nilssen told reporters during their roundtable discussion during the kick off of their three-day conference called DOXACon in Makati City last January 17. According to him, the company’s hires reached 750 in 2023 on the back of strong demand from growth sectors, such as business services, professional services, IT, and health care. Another driving force for the rapid expansion of their talent pool since they have been locally operational for a couple of years is the heavy referral, as shown in their current net promoter scores of 81 and 72 from their clients and employees, respectively. “So there is no plan for us to cut back. We are full throttle,” he said, while citing their goal to duplicate their growth performance by recruiting between 500 to 700 more talents for 2024. The company is positive to achieve this given the current and future landscape of the labor market. Based on the latest Korn Ferry study, there will be a human talent shortage of more than 85 million people worldwide by 2023, which, if left unaddressed, could lead to around $8.5 trillion in unrealized yearly revenues. This holds true because a staggering 77 percent of employers globally now have the difficulty to find the right talents, per the recent report of international staffing firm ManpowerGroup. The rise of hybrid work arrangement during the Covid-19 crisis, likewise, has continued post-pandemic, thus leading businesses to invest more in offshore talents to address the employment gap. Proof of which is the 83 percent of SMEs that outsourced services in 2023, and the trend will continue to do so in 2024. “There are 30 million small businesses in the United States, and they are now looking

Product competence

DOXA Talent Chief Executive Officer David Nilssen

for an opportunity to work with offshore talents,” Nilssen cited, for instance, in reference to the results of the survey of an American publication. “[It] did a survey of thousands and thousands of companies, and 77 percent of small businesses said they intend to move offshore. That’s a huge opportunity. So for us, we do not see anytime soon that there will be a slowdown for the appetite of the type of work we do that the customers deserve.” To kickstart the year, DOXACon showcased its thought leadership, customer-friendly practices, and world-class employee experience through a series of learning sessions and activities. It started with guests joining a day of local community service and networking dinner. Because DOXA continues to receive many applications from the Philippines, which for this year stand at 60,000, the firm launched during a conference-type session on the second day a new AI recruiting tool to process them. The affair concluded with an Amazing Race tech event for guests to explore landmarks along Bonifacio Global City in Taguig and a tropical-themed holiday party to cap off the night. “Connection and career development are the two things that we’re focused at. This week [with the DOXACon] is all about the connection,” he said, while disclosing several promising plans in the pipeline. “We do have a small presence in Vietnam, primarily for software engineering purposes; Kenya; and then Colombia as well. We do want to have some near shore capabilities for some clients that need that…but our primary goal is to grow in the Philippines.” Roderick L. Abad

I always remind sales professionals that the primary requirement to effective selling is to know your product or services inside and out. If you truly know your product, you can craft the most appropriate features and benefits, and can likewise effectively up-sell and cross-sell. Remember, no amount of selling skills can compensate for the utter lack of product competence. Besides, it is best to note that one’s confidence in selling is a function of that person’s level of product competence.

Effective selling skills

Aside from product competence, sales professionals must also learn the fundamentals of effective selling. This will involve skills in the art of asking questions, managing rejections, objections and other questions, and closing deals. These skills are important because customer buying decisions are not just based on logic and linear thinking, but mostly influenced by six main buying motivations—gain, fear, pleasure, convenience, pride and peer pressure.

Practical market intelligence

Sales professionals must also possess a good sense of practical market intelligence. Sales-makers grow businesses by not only increasing the volume of sales per customer, but more importantly, to increase the number of sales accounts and sub-markets within a given territory.

Doing this will not only increase business size, but will allow for business sustainability over the long haul. To accomplish this, one must be well acquainted with various marketscapes, including market and product potentials, product use and consumption cycles, market shares, competitive positions, and other emerging market trends.

Strategic planning

Setting priorities is as important as the actual selling process. These priorities are determined based on solid strategic plans. And sales-makers must be experts in strategic planning. One may possess outstanding sales acumen, but without proper planning and time management, a sales professional can only cover a limited number of clients, hence closing a limited number of transactions. It helps to apply the rudiments of route and time management. Moreover, one must also practice the 80/20 Rule or The Pareto Principle in segmenting customers vis-a-vis setting of targets and scheduling of sales call frequencies, and selecting the most appropriate sales approach.

Healthy outlook in life

Alongside the skills, salesmakers must also possess a healthy outlook in life. Selling is a numbers game, and depending on your batting average for closing, you can

always expect a fair share of rejections. Hence, being in sales means that you must develop an appetite for rejections and objections for these are part of the territory. It’s part of the game! One must learn to get back up after every rejection, and move forward by getting into another closing situation, while learning from previous setbacks. Knowing your deepest why will definitely help develop grit that will allow you to keep moving forward. More importantly, your faith in God will also enable you to always rise from every fall, knowing fully well that He will never leave you nor forsake you. Besides, what’s the worst thing that can happen after getting a no? So as the poem suggests, “rest if you must, but don’t you quit.” Nurture and cultivate these five sales-maker tools and you will definitely move towards the height of your dreams. God bless! Alexey Rola Cajilig is the President of ARCWAY Consultancy Inc., Executive Director of ARC DOCENDI, and the Executive Managing Director of EM-CORE Success Academy and EM-CORE Foundation Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of The effective Seller. He is also the creator of ARCH Styles, a behavioral and personality assessment tool. If you have questions and suggestions, you may send an email to salesleadershipcoachlex@gmail.com.

Banking&Finance BusinessMirror

Wednesday, January 31, 2024 • Editor: Dennis D. Estopace

Integrity of lottery games sought after suspicions of manipulation

By Jovee Marie N. dela Cruz

@joveemarie

OLLOWING allegations surrounding manipulated “Lotto 6/42” results, the chairman of the House Committee on Ways and Means on Tuesday recommended to the Philippine Charity Sweepstakes Office (PCSO) to acquire services from a reputable third-party organization to conduct an audit, ensuring the integrity of the country’s first national lottery game. Albay Rep. Joey Sarte Salceda, the panel chairman, made the suggestion during a briefing with PCSO officials after the public expressed concerns over the transparency and fairness of Lotto results. Salceda emphasized the impor-

tance of a dedicated international games integrity auditor to alleviate concerns and instill public confidence in the lottery system. “That’s why if you have a game integrity auditor, then we don’t have to worry about that [allegations],

and it’s worth spending on,” he said. Salceda’s proposal aims to address these concerns head-on and ensure that the PCSO’s lottery games maintain their credibility and fairness. By engaging an external organization to audit the games, the lawmaker said the PCSO could provide an unbiased assessment of the entire lottery process. “Can we recommend this game to the auditor so that you will not be accused [of manipulating]?” said Salceda. Lotteries play a crucial role in generating funds for various social programs, making it imperative to address any suspicions promptly, said the lawmaker. For her part, Maria Katrina Nicole C. Contacto from the Office of the General Manager said the PCSO will look into the proposal. “We will look into it but, rest assured, we welcome the comments; and we will consult with management about it,” the lawyer said. Contacto acknowledged that in its 90 years of existence, the PCSO has never undergone an audit by a

third-party organization concerning the integrity of their games. However, she was quick to mention that the PCSO maintains an annual ISO certification for its game processes. Contacto added that representatives from the Commission on Audit (COA) regularly oversee the daily operations of the PCSO. But Salceda said: “ISO certification does not guarantee the integrity of your games; and the COA does not know the integrity of the games.” Last year, the PCSO expressed confidence that it will surpass its revenue target for 2024 and raise more funds for various charity programs. The PCSO estimated its sales for 2024 could reach P60.1 billion. The PCSO is mandated to provide a portion of its generated funds to its charity assistance programs, mandatory contributions to the Universal Health Care Program, and other assistance to government institutions such as the Commission on Higher Education, the Dangerous Drugs Board, the National Council on Disability Affairs and the Philippine Sports Commission.

PHLPost releases stamps to mark IC’s 75th year

HE Insurance Commission (IC) and the state-owned Philippine Postal Corp. (PHLPost) unveiled the commemorative stamp and official first day cover in celebration of the 75th Anniversary of the Insurance Commission (IC) last January 24 to highlight this year’s theme: “Serving with Integrity and Commitment: 75 years of Public Trust.” Established in 1949 through Republic Act (RA) 275, the IC’s principal responsibility is to regulate and supervise Health Maintenance Organizations and the insurance and pre-need industries, read a statement issued by PHLPost. This oversight aligns with the provisions of the Insurance Code or Republic Act (RA) 10607 (As Amended), the Pre-Need Code of the Philippines (RA 9829) and Executive Order 192 (s. 2015).

This photo courtesy of the Philippine Postal Corp. shows the the commemorative stamp and official first day cover in celebration of the 75th Anniversary of the Insurance Commission. CREDIT: Philippine Postal Corp.

“The commemorative stamp crafted for the IC’s 75th year portrays a poignant depiction of ‘pagpupugay,’ symbolized by the deliberate place-

ment of men’s right hands upon their chests,” the PHLPost said. “This gesture signifies a genuine commitment to serve with unwavering integrity

The decline of China’s power

OUBTLESS, China’s golden years—in economics and politics—are slowly disappearing from view. A dwindling population, debt-upto-the nose, a real estate collapse and a more repressive political iron hand led to the decimation of the hope and optimism of the Chinese people resulting to what the Business Insider news website calls a “deflation.” “Deflation” happens when there is steady supply, but people are not buying as contrasted with the “inflation” problem of the United States of America, which is categorized as having adequate demand with shortness in supply leading to high prices. Consumer prices in China dropped for three consecutive months. Former US Federal Reserve Chairman Ben S. Bernanke said even just a full year of drop in consumer prices will weaken any economy for many years. It appears that it is not just food, but other non-core inflation items in China are causing the drop in prices. China is, likewise, buried deep in debt—representing about 30 percent of its gross domestic product (GDP), according to Business Insider—and deflation makes money scarce for everyone; making debt difficult to service. The case of overbuilding has left real estate prices soft; and since 70 percent of the Chinese people’s assets are in properties, this has torn asunder private sector balance sheets, according to the Societe General Group. Population control has, meantime, led to an aging population and a relatively smaller younger work force. Japan worked its way out of its own mild version of stagflation for 25 years by restructuring debt and some fiscal

Finex free enterprise Zoilo ‘Bingo’ Dejaresco III stimulus (which Xi Jinping does not believe in). Instead, band aid solutions, like miniscule reduction in interest rate and a $140-billion one-time assistance to ailing local governments, did little to pump prime the economic appetite of the nation. Besides, a Rhodium Group analyst opined that “China does not have much taxes collected outside of investmentled growth” (which is slowing down tremendously) so there are little incremental fund sources amid a rising debt level. Even the recent 4.3-percent rise in its GDP is anemic compared to the 10 percent normal rates during China’s past years of might and glory. Meantime, people today just do not buy, not invest and not expand amid depressed feelings.

External solutions

CHINA is trying to mend alliances abroad to find some quick fix to its maladies. Despite their crossing of swords in the geopolitical chessboard, China still does big trade business with the US to the tune of $700 billion even back in 2022. It does big trade with Russia, which has been avoided by the West like a plague following the Ukraine misadventure. In fact, today, Russia is the biggest

supplier of oil to the second-biggest economy in the world (19 percent) eclipsing Saudi Arabia (15 percent), getting a huge 10 percent discount from Moscow. It is clear that while China hankers for world peace, it cannot afford to fight Russia in any political issue including Ukraine. There is mutual trust between Moscow and Beijing. While everything points southwards, China has not let up on its defense spending, aware of its primary goal of reunifying with Taiwan (by all means) and the pesky problems it has created in the South China Sea. Political experts have advised China to improve its communication levers with Taiwan to avoid “miscalculation.” This is especially true with the recent election of William Lai Ching Tie as Taiwan head and with the US never shy about its promise to aid Taiwan against a Chinese Mainland annexation. In the meantime, while the relationship of China has been bright with both the Latin America and Africa, there is so much trade friction these days that could lead to some kind of “trade war” between Europe and China. Europe is also strengthening its ranks militarily (in relation to the Ukraine problem) as most of them see the possible return to power of Republican ex-President Donald Trump, who has always been chummy with Russia strongman Vladimir Putin. The debt-burdened Africa, on the other hand, has been advised by China (with its de-dollarization bid) to use the yuan and their local currencies. The South China Morning Post reports that, as of late, China has been egging the Group of 77 to lobby for

and compassion.” “It is a powerful emblem, representing the Insurance Commission’s profound commitment to providing continuous, high-quality, and upright public service,” the PHLPost continued. According to the state-run firm, the commemorative stamp “also captures the developmental initiatives of the Commission in serving the Filipino people. The stamp chronicles the Commission’s long and remarkable history as the country’s premier regulator in the insurance sector.” The PHLPost said it has printed 35,000 copies of the stamps, which are being sold at P16 each. The stamps, souvenir sheets and official first day covers are now available at the second floor of Manila Central Post Office Annex Bldg. located at the back of the fire gutted historic structure.

overhaul of the political institutions (like the North Atlantic Treaty Organization, or Nato) and economic bodies (World Trade Organization, the International Monetary Fund and the World Bank; the latter two created strongly upon America’s behest) to short circuit their “disproportionately favoring the West.” (Geopolitics, as we know, often paralyzes the smooth operation of the Nato Security Council). Chinese premiere Liu Ghozong said that the “ global financial system should be rooted in equity and inclusion and committed to multilateralism.” During its 100percent GDP growth heydays, China set up its own alternative financing sources for those nations who could not otherwise access credit under the old set up, like, the New Development Bank, the Asia Infrastructure Investment Bank and the Silk Road Fund. The last has funded 3,000 road projects worth $1 trillion in 10 years. Many of these have slowed down in the recent past alongside China’s weaker cultural reach, which is a function of the pervasive pessimism in all of China. After the Covid 19 lockdown period, China appears headed for even more challenging times. But Linette Lopez concluded “ Xi will never let go of saving face. That’s the nature of a one-man rule.” Zoilo P. Dejaresco III, a former banker, is a financial consultant media practitioner and author. He is a Life and Media member of the Financial Executives Intitute of the Philippines (Finex). His views here, however, are personal and do not necessarily reflect those of Finex and the BusinessMirror. E-mail dejarescobingo@yahoo.com.

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OFWs given access to IC hotline for complaints By Reine Juvierre S. Alberto

VERSEAS Filipino workers (OFWs) will soon be able to report insurance-related complaints to the Insurance Commission (IC). This was after Insurance Commissioner Reynaldo A. Regalado and Department of Migrant Workers (DMW) Officer-in-Charge Hans Leo J. Cacdac signed an agreement during the 75th anniversary of the IC on January 24. The agreement would provide OFWs with a dedicated hotline to resolve complaints against insurers, read a statement the IC issued last Tuesday. It added that the IC will establish a dedicated hotline in its Public Assistance and Mediation Division, which will specifically address insurancerelated concerns of OFWs. The IC pointed out that the hotline will serve as a communication channel for OFWs to report their grievances, ask for assistance, and obtain information about their insurance coverage. Filipinos bound for employment abroad are mandated to have insurance coverage as per the current rules for deployment. Based on Section 37-A of the Republic Act 10022 (An Act Amending RA 8042, Otherwise Known as the Migrant Workers and Overseas Filipinos Act of 1995), each migrant worker deployed by recruitment or manning agencies is required to be covered by a compulsory insurance policy that shall be secured at no cost to the worker. Under the guidelines, in the case of accidental death and permanent total disability, their insurance must cover the costs. Meanwhile, repa-

triation costs, subsistence allowance benefits and money claims arising from the employer’s liability must also be covered. The compulsory insurance of OFWs should also include coverage for a compassionate visit by relatives, medical evacuation and medical repatriation. Through the agreement, the IC said an online authentication system will be created to ensure that the mandatory insurance purchased by OFWs is legitimate. Furthermore, the agreement with the DMW will also include a seminar on compulsory OFW insurance which will expand the existing pre-employment and pre-departure orientation seminars. During the IC’s anniversary, Finance Secretary Ralph G. Recto said the IC should continue to institute regulatory measures and enforcement mechanisms in its regulated entities to ensure financial stability at the same time protecting the insuring public. “A credible insurance industry encourages more people to avail themselves of financial protection. That is important to strengthening our people’s financial resilience in the face of so many uncertainties,” Recto added. The agreement also aims to promote financial literacy among OFWs, which the chief of the Department of Finance said “is crucial for the development of a robust capital market and a globally competitive Philippine economy.” “We should intensify nationwide financial literacy initiatives, covering a broad spectrum of insurance products available in the Philippine market and extending beyond reach to our overseas Filipinos,” Recto said.

NG bags P30B from sale of T-bonds tracking US Treasury yields recast

HE national government on Tuesday raised P30 billion from the sale of Treasury bonds (T-bonds) consistent with the upward correction in US Treasury yields. The Bureau of the Treasury (BTr) made a full award of reissued 3-year T-bonds in an auction on Tuesday that saw the average yield increase to 6.007 percent. The average yield from the previous 3-year T-bonds auction last January 3, 2024, was at 5.90 percent. The investors’ yield for the T-bonds ranged from 5.950 percent to 6.050 percent. The reissued bond series 0330, which has a remaining term of two years and 11 months, was “broadly in line” with the current secondary market. The coupon rate for the fresh government securities was set at 6.011 percent. “The auction was 2.1 times oversubscribed with total tenders reaching P62.4 billion. With its decision, the committee raised the full program of P30.0 billion, bringing the total outstanding volume for the series to P60.0 billion,” the Treasury said after the tender of T-bonds. This, according to Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort, is more than twice the offering of P30 billion which was fully awarded. “This is consistent with the upward correction in PHP BVAL yields and US Treasury yields since the start of January 2024,” Ricafort said adding he “considered healthy” the correction. The RCBC executive also linked the correction to the decline posted in the Novemberto-December 2023 period “as the markets priced in possible US

Central Bank (Fed) rate cuts later in 2024 after the Fed on December 13, 2023, made a pivot and started to signal -0.75 Fed rate cuts for 2024.” Ricafort said the pricing-in of the rate cuts ensued as global crude oil prices corrected higher to two-month highs recently. The latter was due to increasing tensions at the Red Sea over the past two months as international ships continued to report attacks by Houthi rebels. The RCBC economist added that the El Niño drought experienced until the second quarter of 2024, which could reduce rainfall and in turn limit the production of rice and other agricultural products, would therefore lead to some “pick up in food/agricultural prices and overall inflation.” Ricafort added that the recent volatility in the exchange rates between the greenback and the peso to three-month highs could also lead to some pick up in import prices and overall inflation. The next auction for T-bonds is on February 5, 2024, with 91day, 182- day and 364-day tenors with a total value of P15 billion, according to the Treasury. The Treasury, in its auctions this year, has also yet to make a partial award, mixed award, or full rejection. This year’s borrowing program would still follow a 75:25 mix in favor of domestic sources. The Marcos administration will borrow P1.853 trillion from the domestic market through the sale of T-bonds and T-bills. The Treasury will tender a total of P1.802 trillion worth of Tbonds and P51.050 billion worth of T-bills for the entire 2024.

Reine Juvierre Alberto

www.businessmirror.com.ph

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Editor: Gerard S. Ramos • Wednesday, January 31, 2023

Reducing your performance review biases

ARCO by PJ Almera features detachable straps.

AST week, my article focused on the different performance review biases and their effects on your team’s performance. But no matter how objective you want to be, your biases will creep into your team’s performance evaluation. You need to curb your biases if you want to accurately evaluate your team’s performance because this will help you identify their opportunities for improvement and project assignments. But before you can provide your performance evaluation, your team should have agreed on the goals and expectations before the start of the evaluation period. They need to know what they are being evaluated on, their goals, and the standards to measure their success. This prevents you from evaluating the person on areas that do not fall within their responsibilities, or from unduly influencing your evaluation on areas that are not part of their evaluation. Just a caution that when you give projects, it should be commensurate on the skills required and their proficiency. Previous evaluations can help identify what they need to improve which you can then use to assign projects to help them develop the skills they need to work better. A performance evaluation form can help in monitoring your team’s progress and document what they agree to accomplish for the year. Aside from a performance evaluation form, you also need to help your team develop a tracker of their accomplishments. This should be discussed with your team to align in terms of what needs to be measured and reported as accomplishments. This ensures that you evaluate them based on what they have actually done throughout the year, and not just the few weeks or months leading to the performance appraisal. This prevents you from following your recency and primacy biases, and helps your team become accountable to what they have completed. Depending on the nature of your team’s work and scheduling, your performance evaluation should not only be once a year. Have check-ins throughout the year of how your team is doing so that you have an idea of how they are doing. This also helps your team understand that as much as they are accountable for their own accomplishments, you are accountable to how well you manage them. This helps you finetune their assignments, prevents you from giving overlapping projects, identifies who are being overutilized and who needs to step up. Doing regular checkups prevents you from your primacy and confirmation biases. For finished projects, require a completion report which shows what people have worked on so that successes are properly acknowledged, and opportunities for improvement can be used to implement learning interventions. What managers usually forget is to have a postmortem analysis after a project or event which is helpful in analyzing what went right so that you can continue it as one of your best practices, and to address what went wrong so your team can implement measures to prevent them from happening again. Completion reports help you identify everyone’s contributions and evaluate your team better at the end of the year. This takes care of

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Filipino designer merges European and Filipino cultures in Italian-made bag

PHOTO BY THISISENGINEERING RAENG ON UNSPLASH

your halo and horns bias. Given the opportunities for improvement from all the projects, feedback should not be only at the end of the year. Coach as needed and document those sessions as reference for evaluation at the end of the year. The reason you need to have frequent monitoring within the evaluation period is to help your team overcome challenges as they arise. There are managers who only give feedback during the evaluation period and their team loses the opportunity to do better and correct their mistakes. You need to monitor your team’s progress so you can provide guidance and direction as needed. Once you provide regular coaching to your team, you help them get over their weaknesses faster and they can consistently perform at the top of their game. You also need to ask the other team members for their feedback. And if possible, ask for feedback from the people they have worked with to understand the level of support they have provided and what they can do better. Compare this to your team member’s self-evaluation of their biggest contribution and what can be improved. By doing so, challenge your preconceived notions about the person and force yourself to look at them from other people’s

perspective. This takes care of our leniency and similar-to-me biases which can get the better of you if you do not have feedback from other people. Also, when looking at comments and feedback from other people, focus your attention on those that go against what you believe about the person and then look for factual evidence supporting them. You should not just accept other people’s feedback. You need to validate it with your own observations, facts and the credibility of your sources. When done right, this prevents you from following your primacy and confirmation bias. But do not forget that you need to evaluate your team by looking at them from all perspectives, especially those that contribute to the success of the entire team. However hard you try to quantify the contributions of your team, there will always be people who will rise to the occasion and do more than what is required from them. You need to identify which of those were instrumental in helping your team work well together, so that you can accord them the commensurate distinction. When you evaluate your team fairly, you earn not only their respect but also the integrity and trustworthiness to be their leader. ■

A first in the Philippines: An immersive adventure into French Impressionism CREATED and produced by Grande Experiences, and presented by the Bonifacio Art Foundation Inc. together with Del Monte Philippines, Monet & Friends Alive is a multisensory experience to entertain the whole family. The French Impressionists’ works have been displayed and enjoyed worldwide for more than 150 years—but never like this. After bringing to life the vibrant world of Van Gogh, BGC Arts Center invites Filipinos to discover French Impressionism in the new world-class immersive experience of Monet & Friends Alive. For the very first time in the Philippines, visitors can indulge their senses with the sights and sounds of 19thcentury Europe as seen through the eyes of Claude Monet and other Impressionist painters. Monet & Friends Alive, an immersive adventure into French Impressionism, is a large-scale arts and entertainment experience that delves into the mesmerizing world of Impressionism. The digital spectacular opens on January 31, 2024 for a strictly limited season at the BGC Arts Center, Bonifacio Global City, Taguig City. The Impressionists’ depictions of modernity, movement, light and shadow have been admired and emulated by generations of artists. Over 150 years later, the Grande Experiences creative team uses immersive technology to

bring art to life through an incredible application of light that even the artists themselves could not have envisaged. Set to a powerful classical score and showcasing the full breadth of the Impressionist movement, a stunning display of iconic, inspirational images surround the visitor as they get lost in the vibrant colors and intricate details of the Impressionists’ works. Breathtaking paintings are projected at an enormous scale, illuminating the bold brushstrokes of Claude Monet, Camille Pissarro, Pierre-Auguste Renoir, Paul Cézanne, Edgar Degas and many more. In a rich, dynamic display of light, color, sound and fragrance, the masterpieces of the Impressionists come to life. Visitors also have the chance to examine the Impressionists’ sources of inspiration via photographs and video displayed alongside their works. Adults and children alike will forge their own paths and find their own meaning as they wander through the galleries, exploring hidden nooks, viewing artworks from new angles and discovering unique perspectives. But for many, the greatest pleasure lies in simply standing still, indulging the senses as waves of sights and sounds, intense and beautiful, wash over them. More information, visit www.bgcartscenter.org/mfa.

BUDDING multi-disciplinary designer PJ Almera showcased the bold and contemporary juxtaposition of European Romanesque architecture and Filipino craftsmanship in a leather maxi bag. Dubbed as ARCO, it was specially made for Up To You Anthology’s Design-Your-Bag competition, where it emerged as the top winner. This novel piece marks the young creative’s name as the first Filipino to collaborate with the innovative Italian brand Up To You (UTY) Anthology. He joins renowned global visionaries Zaha Hadid, David Chipperfield, Nendo, Naoto Fukasawa, Vincent Van Duysen and Giulio Cappellini. ARCO channels Almera’s manifesto to create an unconventional approach through intensive research, brainstorming, and an emotional release of creative explorations. Conceptualized with freedom and a limitless lifestyle in mind, it is an ideal company for equally versatile style aficionados on-the-go, as it comes with detachable straps, metal handles, and a leather grip. It likewise features an inner lining, as well as slit and zipped pockets. Color options range from red and black, to the posh white chocolate. It is complete with the signature UTY dust bag designed by graphic icon Lissoni Graphx. A homage to both far-distanced regions, the fashion statement features arched cut-outs in rattan, a material abundant in the tropical rainforests of the Philippines. It was made with genuine European cowhide handcrafted by the best artisans in Italy. Equipped with a bachelor’s degree in Architecture from the De La Salle-College of Saint Benilde (DLS-CSB) in Manila and a master’s degree in Contemporary Interior Design from the Instituto Marangoni-Milano Design School in Milan, the licensed architect has embraced the various principles in arts, new media, and design fields. He has turned to the discipline and practice of constructing buildings to encapsulate his journey. “Architecture portrays history and heritage in a very sophisticated way while showcasing the uniqueness of each culture through intricate and distinct details,” he explained. “Arches, in particular, have since been a staple language in my design. I treat it as an important element that gives meaning and wonder instead of just being a faddish shape,” he added. Almera is the founder of Studio Almera, where he serves as the creative director and designer for diverse interior, creative and branding projects. He is also the founder, trend director and creative director of ACIIID, an interdisciplinary research and development platform for contemporary design trends. He is the co-founder and co-design director of his new venture Wandr, where he delves into multidisciplinary design and art focusing on ephemerals and objects. Currently, he pursues his advocacy to amplify aesthetic visions for architecture and space as an educator at Benilde School of Environment and Design (SED). Almera is presently gearing up for the release of the ARCO Mini Collection.

Wednesday, January 31, 2024

www.businessmirror.com.ph

GLOBE GROUP, LOCAL PARTNERS TURN LOLO, LOLA INTO #SENIORDIGIZENS IN DIGITAL INCLUSION PUSH

PHOTO SUPPLIED BY BAHAY TULUYAN

PRESENT during the event were, from left, Liza Reyes, Head of Public Relations and Communications Strategy, Globe; Jo Anne Illescas, Head of Globe Consumer Mobile Postpaid; Yoly Crisanto,Globe Chief Sustainability and Corporate Communications Officer; Ollie Belmonte, Quezon City Action Officer; Atty. Franklin Quijano, Chairman, National Commission of Senior Citizens; Cherry Lyn Lagdamen, GCash Training Specialist for NCR and Luzon; Odel Hernandez, Telco Sales Coach, Google; Camille Manalo, Manager, SMAC Acquisition and Program Management; Tonsi Ignacio,Senior Brand Manager, Globe Consumer Mobile Postpaid; Dr. Hazel Fajardo, KonsultaMD General Practitioner; and Richard Caluyo, Assistant Vice President for Marketing, SM Cares.

EADING digital solutions platform Globe Group is set to transform the digital landscape for Filipino seniors with its innovative “Teach Me How To Digi” #SeniorDigizen Learning Session, held last January 25, 2024 at the Skydome, SM North Edsa. Gathering at least 200 senior citizens in a half day of enriching tech learning, the #SeniorDigizens event was backed by some of the biggest brands in tech and retail, and by senior citizen advocates from the government. “It’s really very important that our senior citizens learn digital skills because in the future, a lot of services will truly become fully digital. We have to help the seniors overcome their fear. And I guarantee you that once you try it, it’s going to be as easy or much easier than the old manual way,” said Ernest Cu, Globe Group President and CEO. “As digitalization accelerates, tech adoption should be simple and easy for everyone, no matter the age. Technology should not be intimidating or difficult for our seniors, and they should be able to enjoy its benefits. The goal of our #SeniorDigizens campaign is to equip them with knowledge that will help them adopt new tech and apps that address their day-to-day pain points,” said Yoly Crisanto, Chief Sustainability and Corporate Communications Officer of the Globe Group. The event featured learning sessions on digital skills: How to create a Gmail account to be facilitated by Google, a 101 course on using smartphones via Globe, and sessions on using fintech platform GCash and telehealth service KonsultaMD. Apart from hosting the event at Sky Dome, retail giant, SM, provided an opportunity for senior citizens to join the Super Grannies Club (SGC), the grandest Facebook community for seasoned individuals. As SGC members, participants gain early access to events, exclusive mall deals and updates on SM Cares programs. These include health and wellness activities like

Walk for Life, the award-winning Emergency Preparedness Forum and community service programs that enable a fun, active and productive lifestyle for lolos and lolas. SM’s loyalty program SMAC, meanwhile, sponsored the event in SM Malls, as it is one with Globe in giving importance and joy to senior citizens. “We are happy to support Globe in bringing to fruition our shared vision of digitalizing seniors. SM has long given seniors priority in our initiatives, and so our partnership with Globe for the #SeniorDigizens campaign is natural and seamless,” said Jay Beltran, Head of Sales and Marketing, Digital Advantage Corporation (DAC). The National Commission of Senior Citizens (NCSC), led by its Chairperson and CEO Atty. Frank Quijano, had a booth where seniors were guided on how to register in its database, which the agency hopes to build to take stock of the living situation, health concerns, skills and other important information about the country’s roughly 11 million senior citizens. The NCSC also brought volunteers to help seniors in tech tutorials. “We thank Globe for embarking on this program that addresses major concerns when it comes to seniors: digitalization and online safety. We at NCSC have been pursuing our own efforts to bring the elderly into the digital space safely, and we are happy to find an ally in the private sector to introduce seniors to new technologies while at the same time protecting them from the dangers that lurk online,” Quijano said. Rep. Milagros Aquino-Magsaysay of United Senior Citizens Partylist was also on board, bringing senior citizen delegates to the event. “We’d like to congratulate Globe for giving seniors priority through its #SeniorDigizens campaign. This is an initiative worth emulating. United Senior Citizens Partylist is one with Globe in seeing this through,” said Aquino-Magsaysay. The Quezon City government also brought

a delegation of senior citizens to the event and provided crucial logistics support. “The city government of Quezon City is proud to partner with Globe in this undertaking. In QC, we give our seniors top priority in terms of public services to help them live their sunset years as active and productive members of society. This project is key in helping them transition into a digital life and help them enjoy the benefits of modern technology,” said Quezon City Mayor Joy Belmonte. Meanwhile, #TeamGlobeofGood influencers Kiray Celis and Chuckie Dreyfus lent lending their talent and brought entertainment to the event, while internet personality Lester “Buji” Babiera, a talent of Globe Group agency NYMA, is bringing his brand of dynamic hosting onstage. The #SeniorDigizen learning session, a significant effort to close the digital divide for the elderly, followed the success of the “Teach Me How to Digi”TikTok contest held in September last year. The contest received over 200 impressive videos showcasing tech lessons imparted by younger family members to their senior loved ones. At the event, Globe awared 25 winners with prizes worth P25,000. They will also get to take part in the learning session. “We are excited to help our senior citizens take their first steps into the digital world, ensuring they are not left behind in this fast-paced digital era. This event is our commitment to ensuring that they are not just consumers of technology but actively engaged in the evolving tech-savvy society,” said Liza Reyes, Public Relations and Communications Strategy Head at the Globe Group. Globe’s #SeniorDigizens campaign promises not only to educate but also inspire a new generation of empowered seniors, ready to engage and connect in today’s rapidly evolving digital environment. To learn more about Globe, visit www.globe. com.ph.

Children’s Rights NGO Exposes How Predators Use Emojis to Victimize Kids

‘D

ID you know that there is a very high probability that your kid has talked to or is talking to an online predator and you’re not aware of it?” This is what Catherine Scerri, Executive Director of children’s rights organization Bahay Tuluyan wants parents to know. Founded on the premise of fulfilling Filipino children’s rights by preventing and responding to abuse and violence against children, the non-profit group recently launched a short online video that explains just how predators are currently doing this— through the use of emojis. “Every day, around 500,000 predators try to befriend kids online via social media and gaming sites,” Scerri adds. “They pretend to be kids and use emojis as a way to get close to our children and abuse them; get images of their private parts or even get them to perform sexual acts. This is why we came up with this campaign. We want parents to be aware of this very real danger so that they may take necessary actions to prevent or properly respond to it.” The video was created in partnership with multiawarded communications agency, TBWA\ Santiago Mangada Puno. Ultimately, it aims to help decrease cases of child sexual abuse by educating parents of this new trend. Reflecting what’s actually happening in the real world, it depicts how predators are able to use vulnerable moments in kids’ life to take advantage of them. One scene shows how, after being bullied, a kid is befriended by an eggplant emoji. Another one showcases how a seemingly innocent live stream can serve as an avenue for perpetrators to befriend unsuspecting kids. Emojis were originally created to make communicating

with friends and family online a lot more fun, but through time, these icons have been given different meanings. For instance, the eggplant emoji is now used to refer to the male genitalia, the peach is now usually used to refer to buttocks, corn as a substitute for porn, and sweat drops can now be used to express orgasm. According to an article released last September, the Scale of Harm prevalence study by International Justice Mission (IJM) and the Universit y of Nottingham Rights Lab estimates that in 2022 alone, roughly one in every 100 children were trafficked to produce sexual exploitation material (CSEM) for profit. Additionally, just this month, Executive Director Undersecretary Angelo Tapales of the Council for the Welfare of Children (CWC) reported that in the same year, they received 18,513 cases of violations involving child abuse, rape and acts of lasciviousness as provided under Republic Act 7610. Sexual offense against children, may it be online or in person, is a very serious crime. In the Philippines, those who are found guilty of the act can face life imprisonment and a fine of not less than P5 million. “An official of the Cybercrime Investigation and Coordinating Center revealed last year that our country ranks second in online sexual abuse of children. That’s how grave our situation is. It’s about time we take a more proactive approach. We’d like to call on all parents and guardians to be more vigilant. Educate yourself about the languages that predators use to communicate with kids, and once spotted, please report any cases of sexual child offense to PNP Women and Children Protection Center by calling 09197777377,” Scerri ends.

PAL BANNERS TRAVELTOUR EXPO 2024 The country’s biggest annual travel and tourism event, the 31st TravelTour Expo 2024 (TTE 2024), is set on February 2 to 4, 2024 at the SMX Convention Center Manila, Pasay City featuring Philippine Airlines offering travel deals, exclusive discounts, and destination packages as sponsor. The agreement was signed by PAL Assistant Vice President for Passenger Sales Philippines Marissa Dimaano (center), PTAA Vice President Outbound Evelyn Bondagjy (left) and TTE 2024 Organizing Chairperson Patria Chiong (right).

Zimbra Daffodil Version 10 is the Upgrade You Need for 2024

ADENTA Technologies, one of the country’s leading solutions integrators introduces Zimbra Daffodil (Version 10) Network Edition, the latest upgrade to the email and collaboration platform used by enterprise worldwide. Marcus Teo, Senior Vice President, Global Sales and Marketing at Synacor explains the genesis of Zimbra Daffodil, “We understand the importance of agility, interoperability, and privacy for businesses; and Daffodil is developed with these modern business needs in mind.” Zimbra Daffodil was released ahead of the End-of-Life announcement for Zimbra OSE Version 8.8.15. This means that Zimbra will no longer provide updates, feature upgrades, or security enhancements for the OSE version after December 31, 2023. An outdated platform poses securit y risks, has limited features, does not meet compliance requirements and may cause business disruptions. Zimbra Daffodil provides the same secure and flexible collaboration, on your terms, which has been the long-standing premise of the platform.

You get the freedom to manage your data, your way, accessible anytime from anywhere and on any device. You can customize it using its extensive API and Zimlet integration framework and pay only for the features you need now.

Why upgrade to Zimbra Daffodil?

COMMERCIAL support comes with the Zimbra Support Team that is always available to help you troubleshoot and resolve issues. You get advanced features like enhanced security, compliance, mobile management, and immense scalability. Storage optimization translates to storage tiering and S3 object storage solutions for utmost storage capacity and resilience. Mobile device management allows businesses to manage and secure their employees’ devices. This includes remote device wiping, email encryption, and password policy enforcement to protect data. Compliance made easy. Zimbra Daffodil simplifies compliance with eDiscovery, data retention, and audit logging features, which are

crucial for organizations subject to regulatory requirements. Zimbra Daffodil also comes with email archiving, data leak prevention, and integration with third-party applications. For those concerned about cost, it is important to note that the upgrade includes dedicated support and maintenance. There is no need to upgrade your hardware frequently since the new version has more scalable and cost-effective storage options. Zimbra is making the switch as painless as possible with a migration path that ensures seamless transition with minimal downtime. There is basically no problem with familiarity and workflow continuity as both versions use the same codebase. Zimbra is well suited for organizations that need a scalable and customizable collaboration solution like educational institutions, government agencies, healthcare organizations, financial institutions, retail and similar businesses. Upgrade to Zimbra Daffodil now and see the difference. Call Radenta at 0908-812-4891 or email info@radenta.com.

THE Empress Dining Palace is driven by its commitment to share the Chinese culture and its golden values through great Chinese food

Celebrate with well-curated authentic Chinese spread from the Empress Dining Palace

PEN the year of the wooden dragon with authentic and sumptuous Chinese dishes carefully curated by The Empress Dining Palace, an authentic Chinese fine-dining restaurant located at the heart of Bonifacio Global City. Driven by its commitment to share the Chinese culture and its golden values through great food, the Empress Dining Palace brings people together through fantastic Chinese food. Serving an extensive menu of classic Cantonese cuisine and selected dishes from the Northern region, from mouth-watering appetizers and savory, tender meats, down to its highly-prized seafood roster and delectable dim sum choices. It also offers an impressive range of refreshments and desserts, providing satisfaction and delight that cuts across all ages. The year of the wooden dragon is no different. This month, The Empress Dining Palace offers four dishes that include the following: The Empress Treasure Pot (P10, 800++ for one pot) is an assortment of 18 Chinese favorites in one pot that includes Peking duck, abalone, sea cucumber, prawn, white chicken and pork knuckles. The pot is filled to the brim with all the ingredients to symbolize prosperity through the year; The “Yusheng” or the Empress Prosperity Toss Salad (P1,080 small | P2,080 large), a symbol of abundance, prosperity and vigor is a dish that consists of raw fish, mixed with vegetables, sauces and condiments. The Empress Radish Cake (P1,280), an auspicious Chinese dish that has the word gao which in Chinese sounds like the word that connotes “tall” or “good fortune”;

The staple Empress Glutinous Rice Cake (Php 588) or Nian Gao in Mandarin, which directly means “year higher,” which is a symbol of achieving greatness or success in life. Aside from the special Chinese set, The Empress Dining Palace also offers take-away products that are perfect for your private celebrations at home, for special occasions and for spreading the luck through gifting. The Empress Dining Palace offers customizable Hot Box Feasts and the Bountiful Dimsum Platters and Dimsum Baskets that are perfect for gifting. Patrons are also welcome to an all-you-can dimsum weekend breakfast from 7 am to 10 am, for only P1,088+ (adult) and P588+ (12 years old and below). Kids below 3ft get to eat for free. “As we enter our 5th year this 2024, we look forward to expanding our clientele and reaching more people through excellent and authentic Chinese food. After all, our commitment as a company is to share the Chinese culture and bring people together, through fantastic food,” said Aida Velasco, COO, The Empress Dining Palace. Feast at The Empress Dining Palace located at 7th Avenue, Bonifacio High Street, BGC, Taguig City. Orders for pick-up and delivery may be placed by calling 8292-0807 or 0915 543 1862. Also available via Foodpanda and GrabFood. For more information and promos on The Empress Dining Palace, check out its official Facebook page https://www.facebook.com/empressdiningpalace or Instagram account https://www.instagram.com/ empressdiningpalace.

BusinessMirror

Editor: Tet Andolong

Wednesday, January 31, 2024 B7

Vista Land responds to urbanization

By Rizal Raoul S. Reyes

s urbanization grows at a rapid pace, jampacked metropolitan areas will become centers of commerce and industry, urban professionals are increasingly attracted to move towards centralized living spaces that provide access to their workplaces and key lifestyle destinations. As a result, there’s a boom in the sales of high-rise homes, particularly those that are located close to or within the business districts of Metro Manila. Indeed, rapid urbanization is driving people to seek mobility and convenience, key factors that give condominium living its special allure. Capitalizing on the trend, Vista Land has dominated the market in providing strategically located, premium high-rise homes that meet the demands of aspiring condo dwellers. Teresa Tumbaga, Vista Land Division Head, declared it’s this keen understanding of their customer base that is pushing them towards top-tier status in the condo property market. “Vista Land projects offer spacious, well-laid-out units that ensure comfort and convenience, as well as the sleek finishing one expects of a modern home,” Tumbaga said. “Vista Land’s high-rise devel-

opments likewise foster vibrant communities living within their premises. Residents will relish goodwill and camaraderie as they make use of common spaces and recreational areas, and participate in community events,” she added. All things considered, Tumbaga pointed out that Vista Land offers potential buyers the most soughtafter features of their high-rise homes: prime location, sleek living spaces, and the chance to become part of a lively residential community. In 2023, Vista Land achieved a milestone when it bagged from The Global Economics the Best Community Real Estate Developer for the year. For four consecutive years, Vista Land has been recognized by The Global Economics as the Most Innovative Community Developer in 2020 and Best Community Real Estate Developer from 2021 to 2023. These awards signify Vista Land’s promise to

Vista Land’s keen understanding of their customer base is pushing them towards top-tier status in the condo property market.

Vista Land offers potential buyers the most sought-after features of their high-rise homes.

Vista Land projects offer spacious, well-laid-out units that ensure comfort and convenience.

continue creating superior offerings and to deliver excellent longterm investment growth.

Infrastructure development and master-planned communities According to Colliers Philip-

pines research director Joey Roi Bondoc, the projects conceptualized and started during the

Duterte administration will possibly create an impact and boost the competitiveness of the local property sector. He said the big ticket projects such as the MRT 7, the New Manila International Airport (also known as the San Miguel International Airport), Metro Manila Subway, and the North South Commuter Railway will likely raise land and property values. “In our view, the completion of transportation projects in key cities in Visayas and Mindanao such as Iloilo City, Bacolod, Davao and Cagayan de Oro should entice more developers to landbank and launch more projects in Visayas and Mindanao,” Bondoc noted. Further, Colliers observed that development over the recent years of more master planned communities and resort-themed projects in northern and southern Luzon. According to www.bankrate.com “master-planned communities, frequently referred to as MPCs, are large, custom-built residential communities.” In general, MPCs are developed by a single developer and provide several recreational amenities for residents. Since first taking off in the US in the 1960s, MPCs have been gaining steam. Bondoc cited the improvement of road networks from Metro Manila to property hubs in Luzon including Bulacan, Pampanga, Cavite , Laguna and Batangas as the factors responsible for raising the demand. He pointed out these provinces don’t function anymore as suburban support to Metro Manila. “In fact, developers have already carved out their own residential enclaves and business districts in key cities such as Angeles, San Fernando, Porac, Marilao and Kawit.”

Century Properties tops off the first block of NULIV Townvillas at Acqua

rusted real estate developer Century Properties Group (CPG) has recently completed the first block of NULIV Townvillas at Acqua, marking a milestone for Century Nuliv, its premium, in-city brand. The ceremony included the company’s board members and senior management attendees such as (from left in the photo) CPG VP for Project Management Group Engr. Larry Reyes; CPG Design Manager Ar. Jennifer Maglaqui; CPG President and CEO Mr. Marco Antonio; CPG Managing Director Mr. Carlo Antonio; CPG Vice Chairman Mr. John Victor Antonio; and CPG AVP for Materials Management Group Mr. Ferdinand Capati. Situated in Mandaluyong City, a bridge away from the Makati Central Business District, Century NULIV Townvillas at Acqua constitutes a low-density high street featuring 22 multi-storey houses and lots on an exclusive road behind Acqua Private Residences, an award-winning development, inspired by a tropical rainforest, is located at the base of the new Estrella-Pantaleon Bridge. The townvillas offer two configurations: Rhine (3-storys; 227 sq m ave.) and Seine (4-storys; 312 sq m ave.) units, priced from P40 million to P60 million. These homes boast glass balconies, high ceilings, and ample windows to enhance natural light. According to Century Proper-

PALM Estates, a 51-hectare mixed-use development of Filinvest Land Inc. (FLI), illuminates as the Filinvest Development Corp.’s unit, in partnership with Central Negros Electric Cooperative Inc., installed 42 electricity poles on a 2.7-kilometer stretch along Circumferential Road in Barangay E. Lizares, Talisay City.

Filinvest Land empowers Talisay City with electric poles installation By Roderick L. Abad ties Managing Director, Mr. Carlo Antonio, “We are proud to top off our inaugural Premium In City product offering located in Acqua, Mandaluyong. Our Acqua Town Villas has a total of 22 units, with over P1 billion of revenue and average unit price of P45 million. With around P500 million of capex, we look forward to completing and turning over Block A this year and Block B next year to our clients.” Conce pt u a l i z ed for u rba n dwellers seeking tranquility within the city, each townvilla occupies a spacious lot, featuring levels defined by glass balconies and high-ceiling windows. Homeowners can optimize outdoor spaces by creating gardens, patios, and/ or parking areas. The stacked design facilitates movement within

the house and allows homeowners to transform spaces for various purposes—from family areas and seating nooks to home offices and personal gyms. Each unit will be delivered in standard bare form and completed with premium finishes, providing homeowners the flexibility to personalize their space. Beyond its modern architecture, strategic location, and integrated amenities within Acqua, Century NULIV Townvillas at Acqua is positioned as a wise investment due to expected property value appreciation over time. “We hope that this project continues Century’s heritage of quality projects that our clients will raise their families and loved ones in,” Antonio adds.

ROPERT Y developer Filinvest Land Inc. (FLI) has tied up with Central Negros Electric Cooperative Inc. (Ceneco) in empowering Talisay City to accelerate its progress and development with new electrical infrastructure for future customers of the latter. The subsidiary of a Filinvest Development Corp. has installed 42 electricity poles on a 2.7-kilometer stretch along Circumferential Road in Barangay E. Lizares, Talisay City. They are located near FLI’s Palm Estates, major thoroughfares, schools, and the Bacolod-Silay International Airport. “[This] is a testament to Filinvest Land’s commitment to providing essential infrastructure for future residents and businesses in the area,” said Phil Calumpang, geographic planning head for the

rest of Visayas at FLI. Inspired by its namesake, a popular Californian city within the Coachella Valley, Palm Estates is a 51-hectare mixed-use development designed to be a “city within a city.” This community boasts of cosmopolitan vibe, featuring residential enclaves, topnotch amenities, and ample open spaces for Negrense families to enjoy. Key components of this estate property include a neighborhood commercial complex, chapel, clubhouse, events area/plaza, transportation hub, and its flagship residential community, Futura Homes Palm Estates, which offers smart-value house and lots with a modern minimalist motif. Turnover of houses at Palm Estates will begin in the first quarter of 2024. Its development is in full swing with the ongoing construction of central amenities. The

clubhouse and basketball court are expected to open this year, to be followed by the rest of the amenities such as the soccer field, and swimming pool in 2025. “As we continue to build communities in Negros Occidental, we aim to create not just homes but vibrant and sustainable environments where Negrense families can thrive. We believe in the potential of Talisay City, and through initiatives like this, we strive to energize growth and enhance the quality of life for the community,” Calumpang said. Ceneco is among the 121 electric cooperatives in the Philippines. It was incorporated in 1975 in Bacolod City, Negros Occidental. With the help of the national government, it purchased and took over A. S. Diaz Electric Service in 1978, which previously served Bacolod and Talisay Cities.

Sports

ERNEST JOHN “EJ” OBIENA’S parents, Emerson and Jennet Obiena, receive the trophy for their top athlete son alongside (from left) Philippine Sports Commission chairman Richard Bachmann, Philippine Sportswriters Association president Nelson Beltran and Philippine Olympic Committee president Abraham “Bambol” Tolentino with Executives of the Year Manuel V. Pangilinan and Ramon S. Ang, represented by Alfrancis Chua, pose with their awards with Arena Plus president Rafael Jasper Vicencio. ROY DOMINGO

BusinessMirror

B8 | W

ednesday, January 31, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

POPE FRANCIS congratulates Italy for Jannik Sinner’s Australian Open victory. AP

Sinner draws Pope Francis’s attention

ATICAN CITY—Pope Francis congratulated Italy on Monday after tennis player Jannik Sinner became the country’s first man to win a Grand Slam singles title in nearly a half century. Sinner won the Australian Open title on Sunday and Francis made the acknowledgement during an audience with the Real Club de Tenis Barcelona. “Today we have to congratulate the Italians because yesterday they won in Australia, so we congratulate them, too,” the pope said. Francis noted that since tennis is an individual sport or played as doubles, “it would seem that the objective of the game is to be better than the opponent.” “However, looking at the history of your club you can see that, in reality, since its English origin, it is an expression of the openness of the founders to the good that can come from abroad and a dialogue with other cultures.” The Barcelona club was celebrating its 125th anniversary. “In tennis, as in life, we can’t always win,” Francis added. “But it’s an enriching challenge if it is played in an educated manner according to the rules.… Sports are not just about competing but also relations. And in the case of tennis, it’s a dialogue that often becomes artistic.” In November, Sinner also led Italy to its first Davis Cup title since 1976. Sinner and the rest of Italy’s winning Davis Cup team are due to be honored by Italian President Sergio Mattarella on Thursday. The last Italian man to win a Grand Slam singles title was Adriano Panatta in 1976. While Sinner remains No. 4 in the rankings, Panatta said he’s shown over the past four months that he deserves to be No. 1. “He’s an exceptional kid and one of the best export products we have,” Panatta told Italian radio. “He will surely win many Slams. He’s got a mix of great skill, great desire and great character. Plus, he knows how to handle himself in difficult moments. I’ve rarely seen a player like that.” Sinner rallied from two sets down to beat Daniil Medvedev in Sunday’s final. AP

Obiena talks deep from Formia E

RNEST JOHN “EJ” OBIENA missed attending Monday’s 2023 San Miguel Corp.-Philippine Sportswriters Association (SMC-PSA) Awards Night but gave a deep philosophical message as he accepted the Athlete of the Year award through a live video call at the packed Diamond Hotel in Manila.

RUSSIAN skater Kamila Valieva’s disqualified for doping at the 2022 Winter Games in Beijing. AP

“I see my role as a means to an end, a means to inspire the next generation of our youth, to illustrate the ability and talent of our country, and, of course, as a means to nation-building,” said Obiena, who addressed his fellow awardees, sports officials and guests from his training base in Formia, Italy. ACE pole vaulter Ernest John Obiena aims to leverage his outstanding athletic exploits of the past year to inspire the next generation and create positive change. “Superficially, it’s me using a pole to lift over a bar, but underneath it is a very powerful means for me to drive positive change,” added the world No. 2 and Asian record holder in men’s pole vault. “For me, it suggests that I have been successful in my mission not in pole vaulting but in leveraging my craft for a better and stronger Philippines,” stressed

targets a gold medal in his return to the Olympics in Paris in July. His parents, national coach Emerson and Jennet Obiena, accepted the award presented by the PSA led by its president, Philippine Star sportys editor Nelson Beltran. Pangilinan shared the top sports executive award with Ang for their amazing partnership that led to Gilas Pilipinas regaining the Asian Games basketball gold medal in Hangzhou that the county last won 61 years ago. “When we hear all these triumphs in sports, we can truly believe that we are world class,” said Pangilinan in the awards night also supported by the Philippine Basketball Association, Premier Volleyball League, Rain or Shine and 1-Pacman party list Rep. Mikee Romero.

“We support sports because of its unifying power, whose roots can only be deeply spiritual because sports celebrates values such as fair play, discipline, hard work to be magnanimous in victory and humble in defeat,” Pangilinan said. Pangilinan emphasized that he and Ang, both of them leaders in Philippine business and economy, collaborated for the Gilas squad coached by Ginebra’s Tim Cone. For the historic feat, Gilas Pilipinas was accorded the PSA President’s Award.

Valieva DQed as US gets to receive gold medals

Silver lining for PHL winter sports athletes

HE three Filipino athletes booked below modest results in the Fourth Winter Youth Olympic Games in Gangwon but that’s no reason to sulk, Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino said on Tuesday. “It only means we’re improving every year in winter sports and we’re all proud of them for being part of the history

EMBERS of the US Olympic figure skating team learned late Monday they will receive gold medals now that Russian skater Kamila Valieva has been disqualified for doping at the 2022 Winter Games in Beijing. The US Olympic and Paralympic Committee (USOPC) received word that the International Olympic Committee (IOC) would award the gold to the US for the team competition, which was thrown into turmoil after Valieva’s positive test from six weeks before the competition was revealed.

The Associated Press obtained a copy of an email sent from the IOC to the USOPC saying it “is now in position to award the medals in accordance with the ranking, which has to be established by the International Skating Union [ISU]”— the federation in charge of running the event at the Olympics. The USOPC confirmed that CEO Sarah Hirshland had received the news that the Americans were declared the winners. The IOC said it had “great sympathy with the athletes who have had to wait for two years to get the final results of their competition. The IOC will contact the respective [national Olympic

committees] in order to organize a dignified Olympic medal ceremony.” Still uncertain is how Valieva’s disqualification will affect the silver and bronze medals. Japan finished third and is likely to move to second. Depending on how a scoring rule is interpreted, Russia could still finish third—ahead of Canada—even after deducting Valieva’s points from the two events she skated in during the team event. The Americans to receive the gold medals are Evan Bates, Karen Chen, Nathan Chen, Madison Chock, Zachary Donohue, Brandon Frazier, Madison Hubbell, Alexa Knierim and Vincent Zhou. AP

as our young athletes there,” Tolentino said. “Thank you Peter Groseclose, Laetaz Amihan Rabe and Avery Balbanida.” Cross-country skier Avery Balbanida finished 65th in men’s 7.5-kilometer classic of cross-country skiing on Tuesday morning clocking 25 minutes and 15.90 seconds in the competition ruled by Germany’s gold medalist Jakob Elias Moch and Jonas

Mueller and France’s Quentin Lespine. He was 69th in the sprint freestyle on Monday as he survived the games unscathed—speed skater Groseclose sustained a wound in his foot and missed a potential podium finish in the men’s 500 meters and Rabe didn’t start for the women’s slopestyle with a left knee injury following a bad landing last week.

Tolentino said having three qualifiers in the games for athletes ages 15 to 18 was already an achievement—the country had two representatives in each of the 2012 inaugurals in Innsbruck, Austria and 2020 edition in Lausanne. “I hope they continue with their quest to qualify for the Winter Olympics two years from now,” Tolentino said.

Magnolia tries again in Game 4 XPECT the pressure to be on both Magnolia and Phoenix Super LPG’s shoulders when they clash in Game 4 of their semifinals duel in the Philippine Basketball Association Commissioner’s Cup at the Mall of Asia Arena in Pasay City. Phoenix clawed back from 21 points down to win Game 3, 10385, two nights ago and head coach Jamike Jaren knows Chito Victolero and the Hotshots did a lot of homework in dissecting what went wrong that prevented a series sweep. “They watched the film and they looked for things that didn’t work for them and worked for us,” Jarin said. “So they’re going to counter

Obiena, who apologized for being unable to personally lift the awards night’s biggest trophy. “Unfortunately, I can’t be there physically because I am here to represent my country and I shall do my country my very best [in the Olympics],” he told the event presented by ArenaPlus, the leading sports entertainment gateway in the country, and the Philippine Sports Commission (PSC), Philippine Olympic Committee (POC), Milo, PLDT/Smart and Cignal as major sponsors. Among those in the captivated audience were POC president Abraham “Bambol” Tolentino, PSC chairman Richard Bachmann and Executives of the Year Manuel V. Pangilinan and sports director Alfrancis Chua, who represented SMC top brass Ramon S. Ang. Obiena is deep into training as he

that. They’ll come out with a lot of physicality.” Game 4 is at 8 p.m. with the winner advancing to the bestof-seven Finals against San Miguel Beer in the best-of-seven championships round. “We were able to control our second chance points and rebounding the last time,” Jarin said. The Fuel Masters made more second chance points than the Hotshots, 23-13, and had more rebounds, 53-45. “It’s going to be a pressure-packed game,” said Magnolia big man Ian Sangalang. “So we have to keep our focus and close out the series.” Josef Ramos

Cone ready to take on ‘sacred’ task

By Josef Ramos

IM CONE vowed to focus on success just hours after the Samahang Basketbol ng Pilipinas announced his appointment as head coach of the national men’s basketball team program. The task of being a national team coach is sacred, Cone told BusinessMirror in the sidelines of the 2023 San Miguel Corp.-Philippine Sportswriters Association Awards Night Monday at the Diamond Hotel. “The coaching position is really a sacred thing so I will do everything I can to try to bring success to the program,” he said. “I

always believe basketball is basketball at any level you play.” Cone’s been stringing success to his coaching career—25 Philippine Basketball Association titles including a grand slam, a Southeast Asian Games crown and recently, a historic Asian Games gold medal in Hangzhou. And Paris, definitely, is on his mind. “Who knows? It depends on how much we grow as a group, and I like the balance of our lineup now,” Cone said. “We’re not going to be ‘outsized’ by anybody and we’re not going to’ out quick’ by anybody, that all give us a chance,” said the Barangay Ginebra San Miguel head coach.

Cone has already picked the members of his team that he stressed would be composed of no more than 12 players— Calvin Oftana, AJ Edu, Carl Tamayo, Kai Sotto, Scottie Thompson, Chris Newsome, CJ Perez, Jamie Malonzo, June Mar Fajardo, Dwight Ramos and De La Salle ace Kevin Quiambao plus naturalized Justin Brownlee, whose fate from a positive marijuana test remained in the balance. “I just feel my guys just need to come together as a team, be good teammates with each other,” said Cone, who picked Richard del Rosario as team manager. “If they can do that, I think we can compete with anybody.”

Tonight’s the night for coach Victolero WHEN you are up 21 points and then end up losing the game, something’s wrong somewhere. A “major, major” defect as Venus the beauty queen would put it. I refer to Magnolia dropping Game Three last Sunday in bowing to Phoenix in their ongoing best-of-five semifinal series in the Philippine Basketball Association Commissioner’s Cup. Indeed, it was a “major, major” lapse as it meant allowing Phoenix to live another day. A Magnolia win would have pushed the Hotshots to the Finals. Instead, Phoenix rising from the rubble reduced Magnolia’s 2-0 lead to 2-1 in a stinging stinker that unmasked not just a minor leak in the Hotshots’ back pocket but a major crack in their armor. To absorb a 103-85 licking after being up 21 points should

not be treated as just a nightmare but a trauma with egosmashing effects as well. I don’t know if Magnolia coach Chito Victolero can recover that fast as to bounce back with grit when he steers his boys on Wednesday against a momentum-powered Phoenix. Yes, there is that saying that says, “it’s just one game.” A hiccup. But still, a hiccup is a hiccup is a hiccup. It could grow into a gaping glitch with gargantuan consequences if not handled properly, if not put right in the proper context of things. I’d dare say, therefore, that Wednesday’s Game Four would naturally be Victolero’s victory game. It should be his to savor. Win it and it’d amount to more than a consuming

SAMANTHA HARADA rises to the occasion.

Harada, Dream go 4-and-0 in PBA’s women’s 3x3 tilt

RATEX Dream took care of business in its double-header assignment Monday to move a win away from a sweep of elimination round of the Philippine Basketball Association 3x3 Women’s Invitational at the Ayala Malls Manila Bay. Sustaining their charge from last week’s opening skirmishes, the Dream stamped their class on Gilas Pilipinas A, 21-19, and Gilas Pilipinas B, 20-16, to go 4-0. Samantha Harada broke a 19-19 standoff with Gilas A with a short-range bucket then Kaye Pingol sealed it from the stripe as Uratex picked up a smashing followup to it kickoff victories over Angelis Resort (20-15) and Philippine Air Force (19-16) last week. Not stopping there, the Dream added Gilas’ B squad to their victims shortly after with Eunique Chan, Harada and Pingol as anchors. The pacesetters can seal a perfect record heading into the next round if they pick up win No. 5 versus Philippine Navy-Go For Gold in the last day of eliminations on Monday. The Lady Sailors also hurdled their two assignments of the day, 19-16 over Angelis Resort, and 21-13 over Philippine Air Force, to hike their record to 3-0, counting their 14-10 win over Gilas A last Tuesday. Meanwhile, Gilas A broke into the win column after a 0-3 start after drubbing Air Force, 16-8. Hostilities resume Monday with the six teams chasing for the tickets to the crossover semifinals earmarked for the Top 4 at the end of the three-week eliminations.

of a Game Four win, not missing a beat on an opportunity that could be so golden it would glitter like the Big Dipper in the midnight sky. And so, to Victolero, devise the formula to protect a 21-point lead and the like or, better yet, learn your lessons well from that Game Three collapse if you wish a title showdown with San Miguel Beer to happen. By all means, win it tonight. Otherwise, a precipice awaits you in Game Five.

vindication of Victolero’s Game 3 debacle. But, hey, lose it, man, and the series could signal the end of the series for your Hotshots. A Game Five would be like seeing an inexorable walk of triumph on the red carpet for the Fuel Masters. For, surely, Phoenix coach Jamike Jarin will ride on the crest

THAT’S IT Deepest condolences to the loved ones of Manuel “Tito” Juvida Laurel, who had passed on in New York City. Tito, my dearest brother-in-law from Calauag, Quezon, was 85. He was the beloved cousin of writer Sol Juvida. I will miss your warm, reassuring ways but most especially your Perry Como-like voice, Tito. Your rendition of “Bato sa Buhangin” aka “Gravel and Sand” will remain one of the best versions ever. Rest now in God’s loving embrace.