BusinessMirror July 05, 2022

Targets set by AmBisyon, DBCC to be revised

‘Close borders, cut Omicron exposure risk’

By Cai U. Ordinario @caiordinario

By Cai U. Ordinario

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HE@caiordinario new administration intends to revise targets set LOSING the country’s borders by previous administrations is one of the most immediate under AmBisyon and Developcourses of action the government Budget Coordination Commentmittee must take to prevent the for lat-the (DBCC) forecasts est Covid-19 variant, Omicron, from year, according to the National reaching Philippine shores, accordEconomic and Development Auing tothority local economists.

(Neda).

T he In new var iant on is Monday, a threat,Soa briefing e s p ecioeconomic c i a l l y w it hPlanning t he holSecretary id ay s coming up and more foreigners Arsenio M. Balisacan said rebeing a llowed to travel the vising the targets willtoconsider Philippines, De La Sa lle Univerthe impact of the pandemic on sit y the economist Mar Ella as Oplas economy asiawell recent told economic BusinessMirror. developments such as The usually bring in as theholidays spike in oil prices, as well Overseas Filipino Workers (OFWs) recession fears. who are eager to spend Christmas

Economists from the Asian Development Bank (ADB) earlier eswith their that lovedoilones, timated priceswhile could forreach eigners in temperate $200living per barrel, while JPregions Morgan usually inastropical said itwant couldto berelax as high $300 per countries like the Philippines.

This barrel should the war in Eastern year’s influx of OFWs is expected to Europe escalate. be heavier since many of them were “Understandably, we may need unable to comethe home for the holidays to revisit targets, given the in December 2020. setbacks caused by the pandemic.

“My recommendation is to protect Nonetheless, the aspirations and thevision borders.remain Do not allow peopleguiding with relevant, a history of travel countries with us to stay the to course toward impositive cases to enter,” Oplas said. proving the welfare of Filipinos,” “WeBalisacan should besaid. more restrictive. [We have toBalisacan be] moresaid protective terms for thein DBCC tarof our measures.” gets, the committee will be meeting Oplas said that while this be on Friday to discuss the will targets. a setback to some industries, this He said the target of 7 to 8 percent is amay fairnot measure considering be feasible this yearthat given thisthe could help prevent placing the risks and the headwinds the country in another strict lockdown,

economy is currently facing.

Nonetheless, Balisacan said, which, sheasaid, the economy can no posting growth of 6 to 7 percent longer afford. this year “will be respectable.” He “It isthis better that do protective said level of we growth will still preventive measures than explace the Philippines as theget fastest posed again.

We have a lot to lose,” growing country in the region.

OplasBalisacan said. “Weearlier shouldtold do itthe now so Busithat we can open just before ChristnessMirror that a growth of mas. gets contained, we can open 6.5Iftoit 7 percent this year may be it possible again.” given the impact of the Ateneo Center Economic elections on thefor economy andRethe search and Development (ACERD) low-base effects from the growth Associate Director posted last year. Ser Percival K. Peña-Reyes said closing the country’s borders would be effecOn poverty tive but should stillthe adhere to the BALISACAN said increase in standards set by the World Health commodity prices is one of the Organization factors that (WHO). would not only cut What is needed, told economic growthPeña-Reyes but also erode this newspaper, is forefforts. travel restricpoverty reduction tions to be put in place swiftly and

He said the poor are very sensitive to the increase in commodity for government to be in prices, particularly theproactive increase in imposing them. food prices, since this has a higher Previous whencomthe weight in theinstances basket of goods country had the opportunity to pared to other commodities. imposeIntravel not preMay,restrictions the poorestdid Filipinos vent the spread of Covid-19.

That was saw inf lation post a 7-month mainly because the decision was not high, according to the PSA. Inmade immediately, he said. f lation in the Philippines for “Kung papatay patay [If we’re the bottom 30-percent income slow] and we get caught flat-foothouseholds accelerated to 4.3 ed, [that’sinrisky] were too3.8 repercent May We 2022 from active instead of proactive before. percent in April 2022. Inf lation We should learn from that,”atPeñain May 2021 was higher 4.5 Reyes said.

“It’s a delicate balancing percent. act.The We average need to inflation push testing and for this tracing to be properly informed income group of consumers from of our decisions.

January 2022 to Blanket/shotgun May 2022 stood approaches could have dire conseat 3.5 percent. quences on economy.”

Seethe “AmBisyon,” A2 See “Omicron,” A2

DATAGOVT SIGNAL SUSTAINED NATL BORROWINGS GROWTH—THINK TANK FOR 10 MOS DIP TO P2.75T w w

n

n Tuesday, July 5,29, 2022 Vol.Vol. 17 No. 270 Monday, November 2021 17 No.52

By Bernadette D. Nicolas

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P25.00 P25.00 nationwide nationwide || 22 sections sections 24 20 pages pages ||

Omicron Govt keen on PPPs to plugrisk infra gaps withinspurs fiscalrevival limits of quarantine rules in PHL

@BNicolasBM

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

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Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the 10-month period fell by 5.99 percent from P2.92 trillion a year ago.

With only two months left for this year, the latest figure is already equivalent to 89.6 percent of its P3.07-trillion borrowing program.

Broken down, gross domestic borrowings from January to October settled at P2.23 trillion, down by 5.08 percent from P2.35 trillion in 2020.

The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO short-term borrowings from Bangko Sentral ng Pilipinas or BSP (P540 billion), Retail Treasury Bonds/PreREGISTRATION RESUMES Voter applicants are seen filling out forms myo Bonds (P463.3 billion), Retail office in Arroceros, Manila, outside the Commission on Elections (Comelec) Onshore Dollar Bonds (P80.84 bil- that the voter registration on Monday. The Comelec announced last month lion). In wasJuly 23, 2022. NONIE REYES resumes onthe July same 4, 2022 period, and will bethere held until

By Jasper Emmanuel Y. Arcalas dating its registry following the also a net redemption of Treasury enactment of the Coconut FarmBills amounting toBy P43.94 billion.

Bianca Cuaresma @BcuaresmaBM @jearcalas ers and Industry Trust Fund law.

Net debt redemption means ORE than 3 million Rosales explained that about there were more debts repaid comcoconut farmers and 500,000 coconut farmers and pared to the amount borrowed durworkers are now regisworkers were added to the PCA’s ing the period. tered with the government’s reg2018 list that had about 2.5 million Meanwhile, gross foreign boristry, which serves as the basis coconut farmers and farm workers. rowings in the same period also

By Jasper Emmanuel Y. Arcalas for the number of people to be The PCA’s @jearcalas next step is to concontracted by 9.7 percent to P518.7 covered by the utilization of the duct an exclusion-inclusion probillion from last year’s P574.4 billion.

P75-billion coconut levy fund. cedure RESIDENT by makingFerdinand the updated This was raised through global R. Philippine Coconut Authority farmers’ registry public, providbonds (P146.17 billion), program Marcos Jr. on Monday (PCA) Deputy Administrator Roel ing everyone the opportunity to loans (P139.98 billion), euro-deordered agriculture offiM. Rosales said about 3.11 million check the veracity of the list, Ronominated bonds (P121.97 billion), A recent report from analysts April, and 54.1 in May, marking cials to be all hands on deck in farmers and farm worksales added. the impending food a project loan (P86.41 billion), and at the University of Asia and the the coconut third consecutive and fourth addressing ers have been registered with the “The list will posted incounpublic yen-denominated samurai bonds Pacific (UA&P) and First Metro Inmonth of manufacturing growth crisis that willbe impact the government since it started upspaces where people can easily (P24.19 billion). vestments Corporation (FMIC) said in the country. try’s food supply and prices. see

HE Marcos administration is keen on pursuing solicited Public Private Partnerships (PPPs) to defray government costs in plugging the country’s long-standing infrastructure gaps, according to the National Economic and Development Authority (Neda).

In a briefing on Monday, Socioeconomic Planning Secretary Arsenio M. Balisacan said the President has made it clear to the economic team that he is keen on engaging the private sector in light of the government’s fiscal position.

Balisacan earlier said the new administration will continue ongoing and nearly completed infrastructure projects because these will boost efforts to address infrastructure constraints.

“Our d iscussions w ith the President signaled to us that he wants to engage the private sector which I think is a very good direction and given the fiscal space and the commitment of our government to serve its debt, we need to be able to still fund priority projects particularly infra or including infrastructure,” Balisacan said. programs as President Duterte “We do think that we need to conis expected to sign the industry tinue the infrastructure program development inthat earlywe 2022. because we doplan know are so Rosales said the PCA will not stop updating its list of coconut farmers and enjoined them to register in order to reap the benefits of the decades-long idled coconut levy fund. “We will not stop at 3.1 million. We hope that more individuals will register in our coconut farmers registry,” he said.

The updating of the coconut farmers registry is mandated by Republic Act (RA) 11524 or the Coconut Industry Trust Fund Act.

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND

T

M

HE country’s economic growth is forecasted to continue in the second quarter, up until the rest of the year, but the weakness of the local currency could also still continue throughout the year.

See “Borrowings,” A2suggest recent economic indicators “sustained fast growth” in the second quarter and the rest of 2022, albeit at a slower pace.

In particular, analysts pointed to the country’s Manufacturing Purchasing Managers Index (PMI) for May and April, as well as the local employment data, especially for construction and the rest of the industry sector.

S&P Global reported earlier that the Philippines’s PMI hit 54.3 in

PESO EXCHANGE RATES

them. This allows everyone to see who are listed in the registry and if farmer doesn’t see his name then he shall coordinate with the PCA immediately,” he explained at a recent dialogue with coconut farmers.

“On the other hand, if people would see names on everyone the list and look around the world, they think they are not is preparing for it,” Marcoscoconut told farmers or their high-ranking details are incorthe remaining rect, they can report it PCA agriculture officials attoanthe exfor immediate action,” he added. ecutive committee meeting on The PCA that Tuesday at theofficial Bureaunoted of Soils the completion of the initial list and Water Management. of“We coconut farmers registry would are already in a disadbe just in time for the vantageous position in expected terms rollout of coconut levy-funded of food supply. We should really

MARCOS AS AGRI CHIEF: FOOD SUPPLY, PRICES FIRST PRIORITY

P

See “3-M farmers,” A2

Meanwhile, employment gains The first marching order of pay very close attention to what emerged for five out of six subsecMarcos, the concurrent agriculwe can do. I think the conclusion tors in the industry sector led by ture chief, to the Department have come to here isn that we n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n we SINGAPORE 36.8968 AUSTRALIA 36.2807 n Construction and Manufacturing. of Agriculture (DA) is to ensure have to increase production,” Growth was also seen for three serthe country’s food supply for Marcos added. vices subsectors—Transport and the rest of the year, especially However, Marcos reminded Storage; Accommodations & Food for rice, corn and even pork and the agriculture officials that Services; and Education—which chicken meat. on top of making food supply were hardest hit by the pandemic.

“We have to attend to the sufficient is ensuring that they Exports and capital goods imimpending food crisis that it would be affordable to the Filiports remained in positive territory seems will be visiting us in the pino consumers. in April. next two quarters. When we See “Marcos,” A2

By Samuel P. Medenilla @sam_medenilla

I

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all ”Given the fiscal space and the commitment arriving passengers in the country. of our government to serve its debt, Acting we need to be Presidential able to still fund spokesperpriority son Karlo B. Nograles announced projects, particularly infra or including on Sunday that the Inter-Agency infrastructure.“—Socioeconomic Planning Task Force the Management Secretary Arseniofor M. Balisacan of Emerging Infectious Diseases (IATF) behind suspended implemenlagging our the neighbors but tation of its Resolution No.about 150we have to be open-minded A (s.2021), effectively imposing where to source that funding for stricter protocols for all these projects,” he added. inbound travelers.

Balisacan said, however, that the To note, IATF Resolution that 150economic team recommended A had allowed fully vaccinated these projects be solicited PPPs, as non-visato travelers fromPPPs. GreenThe List opposed unsolicited areas tosolicited enter thePPPs country reason: will withgive outadministration the need for elbow facility-based the room to quarantine as long as they identify projects aligned withsecure their negative Reverse Transcriptionpriorities.

Polymerase Reaction (RTUnsolicitedChain projects are those PCR) test within 72 hours prior proposed by the private sector. to their One such departure. example of these projects “Except for Airport countries classified is the Bulacan which was as ‘Red,’ the and quarantine proposed by testing San Miguel Corp. protocols See for “PPPs,” all inbound internaA2 tional travelers in all ports of entry shall comply with the testing and quarantine protocols for ‘Yellow’ list countries,” Nograles said, citing the provision of IATF Resolution No. 151-A. He noted Hong Kong, which has confirmed a case of the Omicron variant, will also fall under the Yellow list countries.

The suspension of the rules for “Green List” countries will be in effect from November 28, 2021 to December 15, 2021.

Continued on A2

EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021)

See “Data signal,” A2

PESO EXCHANGE RATES n US 55.1170

n JAPAN 0.4075 n UK 66.7081 n HK 7.0241 n CHINA 8.2240 n SINGAPORE 39.4736 n AUSTRALIA 37.5237 n EU 57.4540 n SAUDI ARABIA 14.6885 Source: BSP (July 4, 2022)

News

BusinessMirror

A2 Tuesday, July 5, 2022

No plans yet for any state visit soon, says Marcos aide D

By Samuel P. Medenilla

@sam_medenilla

ESPITE the reported invitation from the US government to visit Washington, President Ferdinand R. Marcos Jr. has no plan yet to fly out of the country for state visits anytime soon as he continues to build up his Cabinet, according to a Palace official.

In her first press conference last Monday as Press secretary, Beatrix “Trixie” Cruz-Angeles said Marcos is still busy filling up crucial vacancies in his Cabinet.

Among these are the secretaries for the Department of Health (DOH) and the Department of Energy (DOE), Department of Environment and Natural Resources

Marcos...

Continued from A1

“We have to think very hard about making sure that people have the same sufficient food. And number one, at a price that they can afford,” he said.

“Because again, it is useless to have food if you cannot afford it anyway,” he added.

The agriculture officials at the meeting were Undersecretaries Leocadio Sebastian, Zamzamin Ampatuan, Rodolfo Vicerra and As-

(DENR), and the Department of Science and Technology (DOST).

“The President has not announced any state visits as of now.

He is busy building up the Cabinet, so we will have to wait for an announcement if there is indeed such a thing,” Angeles said.

She also noted they are still waiting for Malacañang to formally sistant Secretaries Arnel de Mesa, Agnes Miranda and Jane Bacayo.

Also present were Executive Secretary Victor Rodriguez, Presidential Management Staff head Maria Zenaida Angping and National Food Aut hor it y Ad ministrator Judy Dansal.

RTL law, RCEP

MARCOS asked the agriculture officials to submit to him an assessment of the implementation of the rice trade liberalization (RTL) law, which faces a mid-year scrutiny before Congress this year.

One of Marcos’s campaign prom-

recognize the invitation from US President Joseph “Joe” Biden Jr. “We wait for the formal acknowledgement and then the President will indicate whether or not he is accepting the invitation,” Angeles said.

Marcos is still in the process of evaluating candidates, who will be leading DOH and DOE, Angeles said.

“These are undergoing extensive reviews. We are not saying they are having difficulty [in picking the candidates], but because these are important positions they should go through the eye of the needle [in their selection],” she said.

Cabinet activity

ANGELES said other members of the Cabinet are currently conducting reviews of their respective department to determine if they need ises was to review whether or not the RTL law has been beneficial to rice farmers for the past three years.

Marcos also told the agriculture officials to submit to him a “short memo” regarding their position on the Regional Comprehensive Economic Partnership (RCEP).

“Give me a short memo on RCEP, whether or not we should ratify it.

The pros and cons,” he said.

Furthermore, Marcos told the agriculture officials to just submit to him necessary executive orders or legislative measures that they will be needing to improve the sector.

“Even the budget, supplementary

to seek supplemental funding from Congress this year.

“That will depend on each of the departments. The priorities will depend on which departments are implementing them. So, we will have to wait for that,” Angeles said.

She noted most departments have submitted their proposed budget for next year to the Department of Budget and Management (DBM).

“In general, for the departments, their budgets were already drawn up in accordance with the previous administration,” Angeles said.

“So we don’t have much input there. We will wait for the next budget, where the present administration could make its inputs,” she added.

Marcos has yet to conduct his first Cabinet meeting since his inauguration on June 30.

budget from the House [of Representatives]. Let’s see if we can still get an additional budget,” he said.

The President also advised officials to craft a multiyear plan that would “really reconstruct” the country’s agricultural value chains. Marcos was referring to a plan that may span from 2022 until 2030.

“In the longer term we really have to reconstruct our value chain, starting from our scientists and our researchers all the way to the kadiwa store.

Do not be hesitant to make it multiyear,” he said.

“Because I really don’t believe you can do this if you say one year or three years. Even six years might be insufficient. No, we can do it in six years.

We can do this in less than six years I am pretty sure,” he added.

Frasco...

Continued from A16

The DOT has a convergence program with the DPWH and DOTr; it identifies vital roads and ports that travelers need to easily access tourism destinations.

Due to the Covid-19 travel restrictions all over the world, the country’s tourism direct gross value added (TDGVA) plunged by 63.4 percent in 2020, a reversal from the 12-percent growth in 2019.

The gradual easing of community quarantine restrictions in the country last year encouraged domestic tourism, resulting in a 9.2-percent growth in TDGVA. (See, “Local tourism helps boost tourism rebound,” in the BusinessMirror, June 28, 2022.)

Arrivals of foreign tourists, who help generate foreign exchange earnings for the government, slumped to 1.48 million in 2020 from historic high of 8.26 million in 2019. The arrivals further fell to 168,379 in 2021, as local and international travel restrictions continued to hold through the pandemic.

www.businessmirror.com.ph

PPPs...

Continued from A1

Nonetheless, Balisacan said, making this a policy of the administration and rejecting outright unsolicited proposals cannot become a policy of the administration without the approval of the Neda Board.

“The Neda Board would have to make a decision on that but we have already discussed that. We have already mentioned to the President that moving forward we should go for more solicited projects but officially that would have to come out in a future Neda Board meeting,” Balisacan said.

Meanwhile, Balisacan said the President’s recent veto of the law creating the Bulacan Airport City Special Economic Zone and Freeport (BACSEZF) is not an indication of inconsistency on government’s part.

Balisacan explained that efforts to rationalize incentives have been the policy of the previous administration, particularly in the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law. Based on his experience in government, incentives are not the only factors that influence investment decisions, he stressed.

Factors that have a greater weight in these investment deci-

sions, Balisacan said, are regulations linked to ease of doing business—regulations such as opening a business, paying taxes, and closing a business, among others.

“We already sent the signal that we want a more transparent incentive system when we passed the CREATE law and the technical review board that comes with that law,” Balisacan said. “[The veto does not create] uncertainty. I think it will create more uncertainty if you pass the law and you are doing something else to undermine it.”

In an interview with Balisacan, he said encouraging greater private sector participation in government infrastructure projects requires addressing issues in Public Private Partnerships (PPPs) such as contingent liabilities and risk-sharing.

Balisacan said the government’s limited fiscal space remains the primary consideration when it comes to undertaking infrastructure projects.

He said the Marcos administration intends to continue the ongoing projects as well as those that were nearly completed by the Duterte administration. The pipeline, however, will have to be reevaluated. Cai U. Ordinario

Data signal...

Continued from A1

“Despite sky-high crude oil and commodity prices and rising domestic inflation, there still appears some growth momentum as evidence[d] by expansive PMI in May and employment gains in April in Industry sector, especially in construction and manufacturing, and in more severely affected subsectors of the services sector by the pandemic,” the report read.

Analysts said construction and manufacturing will continue to lead the growth in the Industry sector. Together with the robust recovery of badly impacted subsectors in the service sector, these will offset some of the expected slowdown in the consumer sector due to higher inflation rates.

For local prices, inflation is expected to speed up to an average 5.4 percent in the second quarter and 5.7 percent in the third quarter, but will likely start easing in the fourth quarter.

Earlier this week, the Bangko Sentral ng Pilipinas (BSP) said inflation could have settled between 5.7 percent and 6.5 percent in June. This means that inflation acceleration is certain to accelerate from May’s 5.4-percent print.

Analysts also said recent data suggest “extended weakness” of the local currency against the US dollar in the short and longer term, unless some structural changes occur or the global environment improves significantly.

The peso depreciation is also expected to encourage domestic food producers to step up their uptick, with foreign products becoming more expensive, thereby affecting inflationary pressures further.

On Monday, the local currency closed trade at P55.08 to a dollar, slightly strengthening from the previous day’s trade of P55.09 to a dollar.

AmBisyon...

Continued from A1

The higher inflation in the country for the bottom 30-percent income households was mainly due to the increase in the inflation for food and non-alcoholic beverages at 4.1 percent, from 3.6 percent in April 2022.

In order to cushion the impact on the poor and prevent any further increase in poverty nationwide, Balisacan said the government is keen on extending subsidies for the most vulnerable Filipinos.

He said this can only be done through proper targeting and preventing more leakage in the subsidies. Balisacan said this is behind efforts to ramp up the implementation of the National ID. (Full stor y here: htt ps:// businessmirror.com. ph/2022/07/04/nedadg-f iscal-food-woes-

top-pbbm-agenda/) T he budget for t hese subsidies, however, may be included in t he 2023 budget. Ba l isaca n sa id t he nat iona l gover nment has one mont h to t wea k t he budget proposa l accord ing to t he pr ior it ies of t he Ma rcos ad ministrat ion.

Priority for BBM

ON Monday, BusinessMirror reported the Marcos administration intends to prioritize the economic recovery; address the food crisis and fiscal concerns; and mobilize spending such as those intended for infrastructure.

Balisacan, a known running enthusiast, said in a virtual interview with the BusinessMirror that the President conveyed this sense of urgency to the entire economic team.

Foremost on the agenda, Balisacan said, is the economic recovery. He said improving the country’s GDP growth also means being on track to sustaining this growth and this means recovering from the pandemic quickly.

One of the most serious wounds inflicted on the economy by the pandemic is due to education, he pointed out, as he stressed the need to address the losses in human capital development because the country’s long-term economic growth is at stake.

www.businessmirror.com.ph

The Nation BusinessMirror

Remulla vows crackdown vs syndicates in 3 DOJ agencies

By Joel R. San Juan @jrsanjuan1573

F

ORMER Cavite 7th District Rep. Jesus Crispin “Boying” Remulla formally assumed his new post as justice secretary on Monday and immediately identified three agencies under his supervision—Land Registration Authority (LRA), Bureau of Immigration (BI) and Bureau of Corrections (BuCor)— which, he said, would be his focus on addressing corruption and other illegal activities.

Speaking before officials and employees of the Department of Justice (DO) during his first flag raising ceremony, Remulla said he is ready to face all the challenges confronting the justice department.

“Why was I chosen by the President, may be he chose me because I can get things done, that is the ultimate reason probably why I was chosen by the President and that I accept challenges. I have accepted all the challenges given me in my whole political life and probably my whole professional life,” Remulla said.

Remulla said a lawyer-friend had narrated to him how syndicates work in the LRA but immediately clarified that not all employees of the said agency are involved in irregularities.

“Let us just say that 95 percent to 99 percent of its personnel are not engaged in corrupt activities but there is that 1 percent that is not doing their job well and it is affecting everyone,” he said.

He also lamented the presence of syndicates at the BI that are behind human trafficking, extortion, protection and other irregularities.

Remulla admitted being concerned about these irregularities in

the BI considering that it is a frontline agency that screens unwanted foreigners from entering the country, and upholds the sovereignty of the country.

“The sad thing about the Bureau of Immigration is that they exercise sovereign powers, it is the face of the country and we Filipinos have a duty to protect our own country.

What more for the frontline organization that people see when they enter and leave the country,” Remulla explained.

Remulla also expressed belief that illegal activities are still rampant inside the BuCor. It can be recalled that former President Duterte disclosed that high-profile drug convicts are operating illegal drug trade from the New Bilibid Prisons (NBP) in Muntinlupa.

“The BuCor is one of the three agencies that we will closely monitor. I think activities that destroy our society are continuously happening inside,” Remulla said.

The third in his list as a problematic attached agency is the BuCor, “which up to now continues to conduct activities that destroy our society,” he added.

Remulla said since President Marcos Jr. informed him on May 12 that he was being eyed as DOJ Secretary, he already started making preparations to be able to address the challenges ahead.

“Who am I to say ‘no’ to serve as DOJ Secretary, how can I say ‘no’ to the President who was elected by 31 million. It is a big honor,” he said while noting that he did not ask for the position.

Remulla assured DOJ employees of his 100 percent commitment as their Secretary in the next six years of the Marcos administration.

Editor: Vittorio V. Vitug • Tuesday, July 5, 2022 A3

Authorities seize P1.7B worth of shabu in Cavite, Manila buy-bust operations

By Rene Acosta @reneacostaBM

A

NTI-ILLEGAL drugs operatives and military intelligence agents have busted a local drug trafficking network believed to be operated by foreign syndicates with the arrest of two Chinese national and the seizure of P1.7 billion worth of drugs.

The Philippine National Police (PNP), Philippine Drug Enforcement Agency, Philippine Navy, Intelligence Service of the Armed Forces of the Philippines and the National Intel-

ligence Coordinating Agency carried out the operations jointly.

PNP Officer in Charge Lt. Gen. Vicente Danao Jr. said on Monday that Hai Lin, 41, Chinese national, was arrested on Sunday by combined forces from the operating units at Block 19 Lot 13, Phase 3 Fullana Street corner Soriano Street, Avida Residences, Santa Catalina, Molino Paliparan Road, Barangay Salawag, Dasmariñas City, Cavite.

Seized from the suspect were more or less 220 kilos of shabu with an estimated worth of P1,496,000,000.

A mobile phone, a Covid-19 vaccine

card bearing the name “Hai Lin” and a driver’s license were also seized.

In another operation, Jia Cai Zhu, 31, also a Chinese national, and resident of Masangkay, Sta. Cruz, Manila was arrested, also on Sunday during a buy-bust operation along Maria Clara Street, Barangay Lourdes, Quezon City by forces from the same operating units.

Confiscated from the suspect were more or less 40 kilos of shabu with an estimated worth of P272,000,000.

The operating teams also seized a P1,000 bill placed on top of boodle

PCOO on ‘opulent’ Palace parties: PBBM to adhere to spending laws

By Samuel P. Medenilla @sam_medenilla

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HERE will be no excessive spending for parties and other social events in Malacañang during the administration of President Ferdinand “Bongbong” R. Marcos Jr. Press Secretary Beatrix “Trixie” Cruz-Angeles made the assurance after pictures and videos of the inauguration party and the birthday celebration of Former First Lady Imelda R. Marcos held in the Rizal Hall of Malacañang last week circulated online drew flak from netizens.

She noted every expense in the

said party and other social events will comply with the restrictions provided by law.

“We assure you that the President will adhere to the law, and so that is the presumption. The President doesn’t need no directive in excess of anything that is written in the law,” Angeles said.

The Palace official said they understand the concerns of the public, especially both of the earlier mentioned parties were held in the traditional residence of the President.

“We acknowledge those concerns. There’s no policy yet in place and that’s all that we can really say about it. It was a family affair. And so I don’t know if a policy will be borne

out of this one. But certainly we will note that observation,” Angeles said referring to the birthday bash of the former First Lady.

As to the inauguration party, Angeles maintained the event was “solemn, simple and traditional” amid public criticism of its supposed extravagant features, including a golden medallion given to guests as souvenirs.

“It was well attended. It was a happy occasion for everybody who was there and that’s pretty much it,” Angeles said.

When asked about the total government funds spent for the event, Marcos Jr. said they are still waiting for the final figure.

DOH-RITM grants proficiency certificate Lawmakers propose creation of medical to all 114 Red Cross molecular laboratories reserve corps to boost pandemic response

By Claudeth Mocon-Ciriaco @claudethmc3

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HE Department of HealthResearch Institute for Tropical Medicine (DOH-RITM) gave all 114 Philippine Red Cross (PRC) molecular laboratories across the country Certificates of Proficiency for 2022.

“Ang Philippine Red Cross ang kauna-unahang nagkaroon ng automated RT-PCR tests sa Pilipinas.

Araw-araw, sinisikap ng aming volunteers at staff na laging maging una, laging handa, at laging nandyan para sa ating mga kababayan sa panahon ng emergency at sakuna [The Philippine Red Cross is the first to have automated RT-PCR tests in the Philippines.

Everyday our volunteers and staff members are trying to be always first always ready, and always there for our countrymen during emergency and disasters],” PRC Chairman and CEO Richard J. Gordon said.

The proficiency tests, given annually by RITM to DOH-accredited molecular laboratories, are part of RITM’s quality assessment post-accreditation for the real-time detection of SARS-CoV-2, the coronavirus that causes Covid-19.

All 14 molecular laboratories of the PRC passed the proficiency tests, which consist of Nucleic Acid Extraction, PCR Master Mix Preparation, Real-Time RT-PCR, RT-PCR results interpretation, and RT-PCR results reporting. All 14 PRC laboratories

needed only one take to meet the RITM requirements.

The PRC’s molecular laboratories are located in PRC National Blood Center, Mandaluyong City, PRC Logistics and Multi-purpose Center, Mandaluyong City, Port Area, Manila, Ilagan City, Isabela, Subic, Zambales, Clark, Pampanga, Batangas City, Mandaue City, Cebu, Passi City, Iloilo, Bacolod City, Negros Occidental, Cagayan de Oro City, Misamis Oriental, Surigao City, Surigao del Norte, Cotabato City-Maguindanao area, and Zamboanga City.

The first laboratory started operation in April 2020. Since then, PRC has tested 5,605,651 swab and saliva samples for Covid-19.

Refiled bill will test PBBM’s Oil companies stand on rights issues–solon roll back diesel, kerosene prices P RESIDENT Ferdinand “Bongbong” R. Marcos Jr. affirmation to fully respect human rights will be put to the test with the refiling of the Human Rights Defenders Protection Act as House Bill No. 77, Albay Rep. Edcel C. Lagman said on Monday.

According to Lagman, identical bills were passed on third and final reading in the House of Representatives during the 17th and 18th Congresses but were not acted upon by the Senate due to time limitations.

The Makabayan bloc legislators have previously filed similar bills.

Lagman said that the “emergence of human rights defenders [HRDs] is both an indictment and symptom of the failure and neglect of the government to fully protect, promote, and fulfill human rights.”

He added that HRDs are surrogate defenders due to government’s default in its primary obligation as the principal protector of human

rights under the Constitution.

The following are the rights and freedoms of HRDs as proposed in the refilled bill: Right to promote and protect human rights and fundamental freedoms; Right to form groups, associations and organizations; Right to peaceful assembly; Right to seek, receive and disseminate information; Right to privacy; Right to develop and advocate human rights ideas; Right to solicit, receive and utilize resources; Right to access, communicate and cooperate with international and regional human rights bodies and mechanisms; Right to effective remedy and full reparation; Freedom from intimidation and reprisal; and Freedom of movement.

Jovee Marie N. Dela Cruz

By Lenie Lectura

A

@llectura

FTER five consecutive weeks of price increases in diesel and kerosene, oil firms announced a price rollback on Monday.

Starting Tuesday morning, diesel prices will be reduced by P3 per liter and P3.4 per liter for kerosene. The price of gasoline remains unchanged.

The oil companies’ price adjustment takes effect at 6 a.m. of July 5 as announced by Petron, Shell, Caltex, Phoenix, PTT, Total, Seaoil, and Unioil. Cleanfuel, meanwhile, said it will implement the price rollback at 8:01 a.m.

From June 20 to 24, the week-onweek price of Dubai crude decreased by about $8.40 per barrel. MOPS gasoline and MOPS diesel have also fallen by around $3 per barrel and $0.70 per barrel, respectively.

By Jovee Marie N. Dela Cruz @joveemarie

A

MID shortage of health-care workers, lawmakers are pushing for the passage of a bill creating a Medical Reserve Corps for deployment in case of health emergencies.

In House Bill (HB) No. 2, Leyte Rep. Martin Romualdez, Tingog Reps. Yedda Marie Romualdez and Jude Acidre said the Covid-19 pandemic has exposed the inability of the country’s health-care system to cope with the surge of patients needing medical care due to lack of medically-trained personnel.

Citing latest data from the World Health Organization (WHO), the lawmkaers said there were six medical doctors per 10,000 Filipinos in 2017, a ratio lower than the WHOrecommended 10 physicians per 10,000 population.

“Compared to other Southeast Asian countries, Singapore has 23 doctors per 100,000. Vietnam, Thailand and impoverished Timor Leste have each eight doctors per 100,000 people. In developed countries such as Italy and the United States, the doctor-population ratio is 40 and 26 per 10,000 population, respectively,” the bill’s explanatory note said.

Currently, the lawmakers said the country has a shortage of 290,000 health workers, which is aggravated by the annual migration of some 13,000 health-care professionals.

“Against this backdrop, this bill aims to enhance the capacity of our country to produce and call on the needed manpower and expand its human health resources in times of disasters and public health emergencies of both national and local scale through the mobilization of a medical reserve force specifically trained to supplement the existing human health resources to ease the burden in our health-care system,”

the explanatory note added.

It said that the primary mission of the proposed Medical Reserve Corps is to support the public health system in times of health emergencies.

The reserve group would consist of licensed physicians, including those who have retired and those who are no longer practicing in the hospital setting, medical students who have completed their first four years of medical course, graduates of medicine, and registered nurses.

The proposed Medical Reserve Corps would be under the Health Emergency Management Bureau of the Department of Health (DOH).

It would be given compulsory basic training and continuing training on responding to different national and local health emergency scenarios.

The bill provides that the MRC “shall be organized, trained, developed, and maintained so as to ensure its readiness to immediately respond to the call to service.”

It mandates the DOH to maintain a registry of all medical reservists, including their addresses, contact numbers and similar information, and to issue MRC members’ identification cards.

The reserve corps may be mobilized to conduct contact tracing and monitor suspected cases during disease outbreaks, help ensure quarantine measures, and provide logistics and manpower support for large-scale disaster and health emergency operations.

The bill provides for the establishment of mobilization centers in every province, where medical reservists can register for duty.

The President, upon recommendation of the DOH may mobilize the MRC to complement the military’s medical corps “in case of a declaration of a state of war, state of lawless violence or state of calamity.”

money that was used as buy-bust money, mobile phone and a green Toyota Corolla car.

The PNP believed the two suspects are members of a local drug network being operated by an international drug syndicate.

Meanwhile, in Region 1, Jomar Malbog Narvaja, 32, was arrested on Monday by policemen at a border control checkpoint in Barangay Callitang, Sta. Maria, and Pangasinan.

Confiscated from him were two sachets containing suspected shabu weighing more or less 50 grams with an estimated worth of P340,000.

Peza backs veto, but can accept Bulacan ecozone application continued from a16 Meanwhile, on whether economic zones under Peza are exempted from COA, the Peza chief replied “definitely no,” noting that “we are covered by COA rules, Civil Service rules.” Plaza added that Peza’s yearly budget is being approved and studied by the Department of Budget and Management (DBM).

“So we are operating just like any government agencies and institution [and perhaps] that’s one of the defects of the vetoed Bulacan airport. Nobody should be spared from the regular audit and systems and processes of government,” added Plaza.

Republic Act No. 7916 or the Special Economic Zones Act of 1995 mandates Peza to register lands and buildings into economic zones nationwide, except to those areas or regions with its own legislated IPA. While other IPAs are “reliant on government’s subsidy for their operations,” Plaza underscored, “Peza is a self-reliant, selfsustaining and resourcegenerating agency.”

The Peza chief added, “we don’t receive subsidy from the government but we contribute to the government’s income and resources as we remit 50 percent of our net profit as dividends.”

According to Plaza, the majority of Peza’s registered ecozones are FDI-driven and privatelyowned. She added, “it means they are never a burden to the government since the ecozone developers themselves infuse capital investments, create jobs and livelihood, trigger the growth of [micro, small, and medium enterprises] MSMEs and provide other multiplier effects to the host LGUs and the regions.”

However, Plaza said that if the Bulacan Airport City Special Economic Zone will apply with Peza, “we can accept their application under our framework.”

This will be in accordance with the “criteria and parameters provided in the Corporate Recovery and Tax Incentives for Enterprises [CREATE] Law and the Strategic Investments Priorities Plan [SIPP] as among the big-ticket and strategic investments.”

The House of Representative passed its version of the legislation as early as 2020, while the Senate completed its own version of the bill on May 26, 2022.

The economic zone would have had as centerpiece the San Miguel Corporation’s 2,500-hectare international airport in Bulacan.

SMC said the so-called “aerocity” will help generate more jobs as it will encourage foreign investors to set up shop in Bulacan.

Economy BusinessMirror

A4 Tuesday, July 5, 2022 • Editor: Vittorio V. Vitug

www.businessmirror.com.ph

Balisacan bats for revival of F-to-F classes to curb human capital loss

By Cai U. Ordinario

T

@caiordinario

HE National Economic and Development Authority (Neda) intends to recommend to the

Department of Education (DepEd) to start face-toface (F-to-F) classes in August to prevent further losses in human capital nationwide.

In a briefing on Monday, Socioeconomic Planning Secretary Arsenio M. Balisacan said the cost of remote learning will be felt in five to 10 years when today’s students have already entered the labor force.

Former Socioeconomic Planning Secretary Karl Kendrick T. Chua earlier said the human toll of purely online classes is P11 trillion over a 40-year period since only 37 percent of the learning is absorbed via online classes.

(Full story here: https://businessmirror.com.ph/2021/09/10/human-toll-of-purely-online-classes%E2%82%A711-trillion/)

“It’s clear that our hospitals show that we can manage the risks at this point and so there’s no reason why we should not open up schools,” Balisacan told reporters. “It’s not going to affect us now but its going to affect the future of these children, of our children when they join the labor market, 5 years, 10 years from now. They will not be as competitive as our neighbors who have already opened up,” he explained.

Balisacan said allowing remote classes to continue will only exacerbate education inequality. He said the “pandemic has been so inequitable” already given the poor access of Filipinos and many around the world to quality education. “This pandemic has been so inequitable. It has exacerbated the inequality of opportunities in education and so we should reduce, address that inequality,” Balisacan stressed.

Reducing inequality and lowering poverty are among the primary objectives of the Marcos Jr. administration, according to Balisacan. The Socioeconomic Planning Secretary said part of addressing these is through job generation, which will be the anchor of the Philippine Development Plan (PDP). (Full story here: https:// businessmirror.com.ph/2022/06/30/jobfocused-economic-blueprint-of-new-government-seen-to-cut-poverty/) This is the compass being used to usher in the economic transformation of the country. In Neda, Balisacan laid out three priorities—pushing for necessary measures to raise the country’s economic performance; enhance the Neda’s engagement with stakeholders; and uphold a culture of openness, transparency, and professionalism.

Balisacan said Neda will also expand its reach to include more local government units.

He said Neda has yet to discuss how this can be operationalized as the current set up of the socioeconomic planning agency includes a reach of up to the regions only.

Diversity, equity and inclusion –critical for any work force

By Henry J. Schumacher

B

UT what is diversity? It can be defined as the unique differences between people, including race, ethnicity, gender, age, social class and so on. However, in an organizational setting, diversity goes even further, beyond demographics. Diversity also relates to unique skill sets, such as life experiences and education.

Building a diverse work force requires equity and inclusion. Equity refers to ensuring employees of all backgrounds have access to the same opportunities. And inclusion refers to a work environment where everyone feels welcome, supported and celebrated regardless of differences.

Although Diversity, Equity and Inclusion are important for all organizations, research suggests that diversity has increased in importance, but it’s not yet prioritized. And this means many organizations are missing out on the benefits of having a diverse work force.

Diversity in and of itself is tremendously valuable. It breaks down barriers, improves our view of the world and opens the doors of opportunity for so many who would otherwise be overlooked. And this is just the start. The benefits of embracing diversity within your work force are plentiful. Let me just highlight three benefits: 1. Fresh ideas—Innovative ideas are priceless for any organization. And when individuals with different worldviews, experiences, backgrounds and perspectives come together, new ideas are born. How? Different people think, well, differently.

For example, when a problem arises, each individual will have a different approach to solving it based on their unique experiences. Often, this leads to better solutions than you would have without a diverse team. The same goes for generat-

ing everything from new product ideas to innovative marketing methods.

2. Increased morale—What do employees want in an employer? Money or remote work may come to mind. However, employees also want to work with a diverse team. A diverse work force will become even more important as roles, skills and company requirements change.

Creating an environment that your present and future employees are proud to work in is critical for morale and motivation. And high morale is needed to increase productivity, protect your culture and best serve your customers.

3. Higher retention levels—You know that it costs more to source and hire new talent than it does to retain the incredible talent you already have. We also know the pain of losing some of our coveted team members. One of the factors driving employees to look elsewhere is a lack of diversity.

In a study completed by Deloitte, 39 percent of respondents said they would leave their current organization for a more inclusive one. And 80 percent of respondents said that inclusion is important when selecting an employer.

In other words, we must begin to prioritize diversity, equity and inclusion to ensure happy, healthy and thriving employees who stick around. Diversity is no longer (and should have never been) option.

To promote diversity within your organization, someone needs to be responsible for developing, implementing and monitoring diversity initiatives, such as diversity training and multicultural events. You also need someone to oversee the hiring process to ensure diversity is kept top of mind.

Prioritizing diversity within your organization takes planning. Having a policy in place enables you to set and communicate guidelines for Diversity to help you reach your goals. A Diversity Policy sets forth the appropriate recommendations and expectations for all members of your team, regardless of employment status.

As mentioned above, innovative ideas are priceless for any organization. And when individuals with different worldviews, experiences, backgrounds and perspectives come together, new ideas are born. How? Different people think, well, differently.

If I convinced you that it makes sense for your organization to create a Diversity and Inclusion Policy, contact me so that I can assist you in finding the right assistance for you. Contact me at hjschumacher59@gmail.com

News BusinessMirror

www.businessmirror.com.ph

Lapid presses for P2,000/mo cash assistance to poor PWDs

By Butch Fernandez

Laguesma on revival of OFW dispatch to Saudi: It’s DMW chief Ople’s call

By Samuel P. Medenilla

@butchfBM

S

EN. Lito Lapid is pushing for the passage of an enabling legislation granting regular P2,000 monthly government financial assistance to indigent persons with disability (PWDs).

As proposed in the senator’s bill, the P2,000 aid per month would be provided to indigent PWDs who cannot find regular jobs due to their disabilities and whose families are also indigents and cannot find employment nor avail of pensions that could help them tide over.

The Lapid bill aims to address PWDs it defined as those with “inabilities in body and mind, including sensory impairments, or blind and mute or hard of hearing.”

Once enacted into law, the Department of Social Welfare and Development (DSWD) will focus on those with ailments in mind and body, and “sensory impairment, blind and cannot hear.”

As soon as the enabling law takes effect, the DSWD and the National Council on Disability Affairs (NCDA) shall first determine who are qualified and deserving to avail and receive state assistance.

Those found to be misrepresenting or misleading authorities in registering relatives as PWDs will be made to pay a fine ranging from P25,000 to P100,000.

In filing the awaited remedial legislation, Lapid recalled it was based on the National Disability Prevalence Survey dating back to 2016 that recorded there were about 12 percent Filipinos aged 15 and above afflicted with disability, noting that 47 percent of which were listed with “moderate disability” and 23 percent with “mild disability.”

@sam_medenilla

I

T’S now the Department of Migrant Workers (DMW) call on whether it will ease or totally lift deployment restriction for some overseas Filipino workers (OFW) bound for the Kingdom of Saudi Arabia (KSA).

This after the Department of Labor and Employment (DOLE) said

it will let DMW act on the matter even if the latter is still yet to be “constituted.”

Currently, DMW is still awaiting the passage of its 2023 budget before it could become fully operational under Republic Act No. 11641.

“Will defer to DMW Secretary [Susan] ‘Toots’ Ople on the matter, but [we] will be open to listening to the pros and cons of the proposal,” Labor Secretary Bienvenido E. Laguesma

said in a text message on Monday.

Former Labor Secretary Silvestre H. Bello III instructed the International Labor Affairs Bureau (ILAB) last June 27, 2022 to study the possibility of easing the existing deployment restriction for Household Service Workers (HSW) bound for KSA. A deployment ban of OFW to the oil-rich kingdom took effect last year after Bello reiterated his demand to the Saudi government

S

to facilitate the payment of the P4billion unpaid claims of over 10,000 OFWs, who worked in the Middle Eastern country.

The Saudi government, however, has yet to act on the demand of Bello.

Laguesma noted that he will just submit the recommendation of DOLE to Ople.

“There should be an arrangement or solution, which will not disregard our demand for the payment of

wages and benefits of our workers and recognize the rights of other opportunities for others to work in the Kingdom of Saudi Arabia,” Laguesma said.

During a forum hosted by the BusinessMirror last month, Ople said she will not lift the deployment restriction unless she can get certain assurances from the Saudi government will protect the rights of OFWs.

Group asks PBBM to review merits of SMC’s Sara launches VP satellite offices, proposed Pasig River expressway project vows to rebuild education system

By Lorenz S. Marasigan @lorenzmarasigan

C

OMMUTER group and transport advocacy network The Passenger Forum (TPF) is urging President Ferdinand “Bongbong” R. Marcos Jr. to review the merits of the proposed Pasig River Expressway (PAREX).

TPF Convener Primo Morillo said the project, a proposal of San Miguel Corp. (SMC), is “peppered with a lot of issues and controversies.”

“It is not commuter-friendly because it prioritizes private cars and contrary to the claims of [SMC President] Ramon Ang, the project’s technical details do not mention anything about a bus rapid transit system, bike lanes or any features for pedestrians. It is not environmentfriendly as it will be detrimental to the rehabilitation of the Pasig River,” he said.

He added that the proposed 19.4-kilometer elevated expressway that will run along the Pasig River banks “endangers multiple

heritage sites and historical buildings in Manila especially inside Intramuros,” noting that its “Environment Impact Assessment report has been suspected to be plagiarized.”

The supplemental toll agreement signed with the Department of Transportation (DOTr) and the Department of Public Works and Highways (DPWH) last September gives SMC a 30-year concession to build and operate PAREX. In the past, Ang has already clarified that PAREX has an extensive feasibility study that took into account the environmental impact of the project. It also took into consideration the presence of historical sites along its alignment.

Morillo said that instead of the PAREX, TPF is suggesting that the government rehabilitate the Pasig River and maximize it for public transportation.

“The Pasig River traverses various densely-populated and busy areas of Metro Manila and it is

an existing resource that we can maximize for public transportation especially now that we are in a transport crisis. We think that providing additional water buses and ensuring better passenger experience in the Pasig River Ferry Service will offer an alternative form of transportation for a lot of commuters,” Morillo explained.

TPF’s call for a review of the project came at the heels of Marcos’s veto of the bill that grants an eco-zone status for the location of the Bulacan Airport, another project of SMC. “We know that what was vetoed is just the economic zone status of the airport city but we maintain that the San Miguel Aerocity is not necessary at this point. We should rehabilitate Naia [Ninoy Aquino International Airport] instead and then expand Clark airport.

If we need another airport near Metro Manila, it is better to place it in a province south of NCR [National Capital Region] as Clark is already located north of Manila,” Morillo said.

Villanueva to prioritize passage of ‘end of endo’ law EN. Joel Villanueva, heeding a mounting clamor for Congress to frontload passage of remedial legislation affecting the labor sector, signaled his priority bills include a National Employment Strategy and the “end of endo” also known as the “end of contract” arrangement.

Villanueva reminded Monday the enabling legislation was intended to decisively outlaw endo.

The senator confirmed the awaited legislation was filed along with the first 20 of his priority bills for the 19th Congress to continue his advocacy and fulfill his campaign promises of job creation and security.

Tuesday, July 5, 2022 A5

“For our second term,” Villanueva assured that “our job in the Senate is still jobs,” affirming that “we are pushing for job opportunities and job security through these proposed laws to strengthen our nation against poverty and any crisis.”

The senator added: “Among our [Villanueva’s] top priority bills is the ‘Trabaho Para Sa Lahat ng Pilipino Act’ that establishes the National Employment Action Plan to set the government’s direction for job creation.

The National Employment Action Plan will also continue the objectives of the National Employment Recovery Strategy [NERS] that is currently

being implemented by the NERS Task Force headed by the Department of Trade and Industry,” he added.

At the same time, Sen. Villanueva recalled that “since the NERS sets its targets only up to this year, we aim to extend it and transform it into the National Employment Action Plan to go beyond the target of creating 2 million jobs for the next few years. Job creation should be sustained based on the prevailing socioeconomic trends while facing any crisis.”

Moreover, the senator assured that his office is also prioritizing the end of endo or the Security of Tenure Act for workers in the private sec-

tor, “We have been fighting for the passage of the Security of Tenure Act into law since 2016. Although it was vetoed, it went through rigorous and comprehensive consultations with all concerned sectors so that both workers and employers stand equally in the proposed law. This is already long overdue, which is why we will be working with the Department of Labor and Employment, National Economic and Development Authority, the Department of Finance, workers groups, business associations, and other sectors for the passage of the End of Endo Act into law,” he added.

Butch Fernandez

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—Vice President Sara Duterte has launched satellite offices in selected locations in the country pursuant to her program help people outside of Metro Manila to get easier access to social services.

This came as she also assured of government assistance to ailing private schools and disclosed that the Department of Education (DepEd) was preparing the country for a faceto-face (F-to-F) classroom instructions soon.

Six Office of the Vice President (OVP) satellite offices were already opened in the cities of Dagupan, Cebu, Tacloban, Zamboanga, Davao, and Tandag in Surigao del Sur, Vice Presidential spokesman Reynold Munsayac said.

The satellite offices were launched on July 1, the first day of Vice President Duterte’s term. These offices are open to the public during office hours from Monday to Friday.

“These satellite offices were opened to assist individuals to access help, and for swifter response in times of disasters,” Munsayac said.

He said people wanting to personally see the Vice President would no longer need to travel to Metro Manila. The managers assigned in these satellite offices could provide the assistance needed by the public.

He said the satellite offices were not set up per region but were handpicked strategically for their location.

A major consideration is their proximity and accessibility to other areas or islands. Additional offices shall be added once the initial six areas are in full operation.

Appointed managers per OVP satellite offices are Michael Angelo Sotto Saavedra for Zamboanga, Ma. Constancia Corominas-Lim for Cebu,

Regina Generose Tecson for Davao, Alan Tanjuakio for Tacloban, Rolmar F. Basalan for Surigao, and Marc Brian C. Lim for Dagupan.

In the conversation feed on Duterte’s Facebook account, some supporters hoped that the assigned personnel would not be arrogant “as to feel they were higher than the Vice President.”

Duterte meanwhile, said the education sector “needs to build back stronger, better from the impact of the Covid-19 pandemic.”

“Now that we are finally ready to open the doors to face-to-face classes, we need the help of our private schools in bringing our children and youth back to school,” Duterte said.

In an online meeting with members of the Private Educational Associations, Duterte also said government hoped to come up with appropriate actions and effective solutions for private schools that suffered from losses.

“Some private schools are facing closure. And a number have in fact already shut down,” she said.

“As a community, there is an urgent need to build back, and build back stronger and better. The migration of students from private to public schools has put enormous strain on our public schools,” she added.

Duterte said the DepEd needed the help of the private schools in responding to the Covid-induced education crisis.

“I ask for your indulgence as I also expect your support as we study and explore the appropriate measures to resolve issues and concerns that may adversely impact the education sector,” she said.

“Our task here is clear—it is to protect our children and ensure that quality education is made accessible for them—whether they are enrolled in private or public schools, whether they are in the cities or the countryside,” she added.

SC voids ERC’s 2013 order Plastic makers urge TC to revise position on imposition of safeguard duties on HDPE regulating WESM prices

By Andrea San Juan

continued from a16

In the same decision, the Court affirmed ERC’s order approving Manila Electric Co.’s request for a staggered collection of automatic rate adjustments arising from generation costs for November 2013.

The Court held that the ERC’s decision to allow the staggered recovery of the adjustment charges, while denying the request of Meralco for carrying costs, was intended “to protect the interest of the consumers.”

In a letter dated December 5, 2013, Meralco told respondent ERC that the total cost of generation to be passed on to its almost 5 million captive customers amounted to P22.64 billion, equivalent to a generation charge for December 2013 billing of P9.1070 per kwh— an increase of P3.44 per kwh from the P5.67 per kwh billed in the previous month.

The power firm attributed the abrupt increase in the generation cost to the supposed maintenance shutdown of the Malampaya facility that brings natural gas to three major power plants—Ilijan, San Lorenzo and Sta. Rita—which supply an aggregate capacity of 2700 MW electricity to its franchise area.

It said Malampaya’s shutdown coincided with the scheduled maintenance of two other plants, Pagbilao 2 and Sual 1, which also collectively contribute over 950 MW to its requirements.

Meralco said because of the events, it was forced to buy expensive power from the Wholesale Electricity Spot Market (WESM).

On December 9, 2013, respondent ERC approved Meralco’s request for a staggered collection, but did not approve the power firm’s request to recover carrying costs.

T

HE Philippine Plastics Industry Association Inc. (PPIA) is urging the Tariff Commission (TC) to reconsider its position on imposing safeguard duties on highdensity polyethylene (HDPE) resin.

“We implore the Tariff Commission to reconsider their position and the DTI [Department of Trade and Industry] to not impose safeguard duties on HDPE resin,” said PPIA in a news statement issued on Monday.

In a report released on June 29, the TC recommended the application of the appropriate safeguard measure on importations of HDPE pellets and granules “to prevent the imminent occurrence of serious injury to the Philippine HDPE industry.”

The TC noted in the said report, “There is a direct causal relationship between increased imports of HDPE and the imminent threat of serious injury and significant overall impairment to the position of the domestic HDPE industry in the near future.”

JG Summit Olefins Corporation (JGSOC) is the country’s sole producer of HDPE pellets and granules.

The leading petrochemical firm in the country claimed in its filing of the safeguard measures petition that the volume of HDPE and LLDPE—the key raw materials used in many consumer products—being imported into the country in recent years were in quantities that are substantial to cause serious injury to the local petrochemical industry.

TC’s investigation began in September 2021 upon the request of DTI, which reviewed documented applications from JGSOC, as well as imported data covering the petitioned products.

(RelatedStory:https://businessmirror.com.ph/2022/05/26/dtiseeks-probe-into-import-surge-ofpetro-chemicals-hdpe-lldpe/) Meanwhile, PPIA, the representative of the local downstream plastic industry, decried TC’s decision, saying, “To extend protection to benefit a sole producer, at the expense of the downstream manufacturing in-

dustry dominated by micro, small and medium enterprises [MSMEs] and employing hundreds and thousands of Filipinos, increase the cost of packaging materials and plastic products and add to the increasing inflation amidst the current crisis faced by our country.”

PPIA pointed out that such a move will also result in “tariff distortion” where cheaper imported finished products will continue to proliferate the market.

The representative of the local downstream plastic industry also emphasized that the findings in the TC’s investigation report are not consistent with the facts presented during the hearings and submitted in the form of position papers.

Moreover, PPIA said, the increased imports during the period of investigation is attributed to the lack of domestic supply and operational shutdowns resulting from the expansion of JGSOC, and the increased demand for products that they do not produce.

According to a report released

by the TC on Wednesday, from October 2019 to March 2020, JGSOC shut down its operations to give way to a complex-wide expansion. As a result, its production contracted by 18 percent in 2019.

“This substantially smaller domestic supply made available in the market led to an expansion of imports by 28 percent,” read the TC report.

For their part, the PPIA said that it is wrong to ascertain that the locally produced HDPE using its Unimodal technology will produce “like products” compared to bimodal production systems that make the material stronger.

PPIA added, for instance, “the construction industry experienced a significant growth during the period of investigation and while JG claims to have equivalent grades for PE100, their products have not qualified to meet the mandatory quality and performance tests, pursuant to the Philippine National Standards and Water Utility Companies who use them.”

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TheWorld BusinessMirror

Tuesday, July 5, 2022

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

Russia claims control of key eastern Ukrainian province

By Oleksandr Stashevskyi & Francesca Ebel

K

The Associated Press

YIV, Ukraine—Russia claimed control Sunday over the last Ukrainian stronghold in an eastern province that is key to achieving a major goal of Moscow’s grinding war.

The General Staff of Ukraine’s military reported that its forces had withdrawn from Lysychansk in Luhansk province. President Volodymr Zelenskyy acknowledged the withdrawal but said the fight for the city was still raging on its outskirts.

If confirmed, Russia’s complete seizure of Luhansk would provide its troops with a stronger base from which to press their advance in the Donbas, a region of mines and factories that President Vladimir Putin is bent on capturing in a campaign that could determine the course of the entire war.

Russian Defense Minister Sergei Shoigu told Putin that Russia’s troops, with a local separatist militia, “have established full control over the city of Lysychansk” and now hold all of Luhansk, according to a ministry statement published Sunday.

As is typical with such descriptions, the Russian statement

characterized the victories as “the liberation of the Luhansk People’s Republic.” Separatists in Lu hansk and neighbor ing

Donetsk, which make up the Donbas and are home to significant Russian-speaking populations, declared independence from Kyiv in 2014 and their forces have battled Ukrainian troops there ever since. Russia formally recognized the self-proclaimed republics days before its February 24 invasion of Ukraine.

Ukrainian and Russian forces fought fiercely for Lysychansk in recent days after the neighboring city fell last week. On Sunday evening, the General Staff of Ukraine’s military confirmed on social media that its forces had withdrawn from Lysychansk “to preserve the lives of Ukrainian defenders.”

In his nightly video address, Ukrainian President Volodymr Zel-

In this photo provided by the Luhansk region military administration, damaged residential buildings are seen in Lysychansk, Luhansk region, Ukraine, early Sunday, July 3, 2022. Russian forces pounded the city of Lysychansk and its surroundings in an all-out attempt to seize the last stronghold of resistance in eastern Ukraine’s Luhansk province, the governor said Saturday. A presidential adviser said its fate would be decided within the next two days.

Luhansk region military administration via AP

enskyy noted the withdrawal. But he added that “Ukraine does not give anything back” and vowed to return with more modern weapons. Citing his forces’ success in recapturing other territory, he promised, “There will be a day when we will say the same about Donbas.”

Earlier, Zelenskyy said Kyiv’s forces were still battling Russian soldiers on Lysychansk’s outskirts “in a very difficult and dangerous situation.”

“We cannot give you the final judgment. Lysychansk is still being fought for,” Zelenskyy told a news conference in Kyiv given alongside Australia’s visiting prime minister. He noted that territory can move quickly from one side to the other.

Russian forces maintain an advantage in the area, he acknowledged, calling it a Ukrainian military “weak spot.”

The capture of Lysychansk would give the Russians more territory from which to intensify attacks on Donetsk. In recent weeks, Russian forces were thought to hold about half of Donetsk, but it’s not clear where things stand now.

If Russia prevails in the Donbas, Ukraine would lose not only land but also perhaps the bulk of its most capable military forces, opening the way for Moscow to grab more territory and strengthen its ability to dictate terms to Kyiv.

Since failing to take Kyiv and other areas in northern and central Ukraine early in the war, Russia has focused on the Donbas, unleashing fierce shelling and engaging in house-to-house combat that devastated Lysychansk, neighboring Sievierodonetsk and nearby villages. Few details emerged from either city during the battles, which decimated their populations as people were killed or fled.

A lready Russian forces app e a re d t o b e pu s h i n g t he i r advance in Donetsk, concentrating rocket attacks on the sizable Ukrainian-held city of Slov yansk, where at least six people were killed, regional government spokeswoman Tatyana Ignatchenko told Ukrainian TV. K ramatorsk, another major city in the Donetsk region, also came under fire, the regional administration said.

Far from the fighting in the east, Australian Prime Minister Anthony Albanese on Sunday visited a town near the capital that was severely damaged early in the war. Albanese called the destruction in Irpin “devastating.”

“These are homes and these are livelihoods and indeed lives that have been lost here in this town,” he said.

Meanwhile, the exiled mayor of the Russia-occupied city of Melitopol said Sunday that Ukrainian rockets destroyed one of four Russian military bases in the city.

Attacks were also reported inside Russia, in a revival of sporadic apparent Ukrainian strikes across the border. The governor of the Belgorod region in Western Russia said fragments of an intercepted Ukrainian missile killed four people Sunday. In the Russian city of Kursk, two Ukrainian drones were shot down, according to the Russian Defense Ministry.

Kursk regional governor Roman Starovoit said the town of Tetkino, on the Ukraine border, came under mortar fire.

Ebel reported from Prokovsk, Ukraine.

Associated Press journalist Maria Grazia Murru contributed from Kyiv.

A worker is tested for Covid-19 in Shanghai on July 2. Bloomberg photo

China Covid-19 outbreaks widen as mass testing finds more cases

C

hina’s virus cases continued to climb over the weekend with hundreds of infections detected in Anhui province, where two counties were already in lockdown.

The country reported 380 cases on Sunday, following 385 on Saturday.

Infections have surged in recent days after holding below 50 for most of the previous two weeks. Anhui, the center of the latest outbreak, reported 287 cases for Sunday. A lockdown was imposed in Lingbi county in northeastern Anhui from Friday afternoon, while the neighboring Si county conducted its sixth mass testing on Sunday.

While China seems to have brought earlier outbreaks in mega cities Shanghai and Beijing under control, its Covid-Zero goal is facing a test again in its eastern provinces. Shanghai’s neighboring Jiangsu province reported 56 cases on Sunday.

Shanghai reported three local cases Sunday. One was found outside government quarantine after six days of the city reporting no community infections. Zhao Dandan, a vice director at Shanghai’s municipal health commission, cautioned in a briefing Sunday that the city still faces risks of a rebound in Covid cases. Beijing reported no new cases for Sunday.

President Xi Jinping on Wednesday reaffirmed the importance of sticking with the Covid-Zero policy. He said relaxing Covid controls would risk too many lives in the world’s most populous country, and China would rather endure some temporary impact on economic development than let the virus hurt people’s safety and health.

Macau, which reported its first two Covid deaths of the pandemic Sunday, wouldn’t rule out locking down the entire

city if its virus-control measures fail to curb transmission, Secretary for Social Affairs and Culture Ao Ieong U said at a Sunday briefing. The city has announced it will conduct three more rounds of mass testing this week, with 650 workers from mainland China having arrived to provide support. It’s reported a total of 784 cases during the current outbreak, which started on June 18.

In Hong Kong, new Chief Executive John Lee said there is no immediate need for a universal compulsory Covid testing campaign in the city, but stressed a need to reduce daily infections, which have risen to the highest since April.

Lee, who was sworn in by Xi on Friday, told broadcaster TVB on Sunday that authorities need to carry out more laboratory nucleic acid testing for Covid, but this would not expand into a universal compulsory screening campaign for now.

The chief executive acknowledged the need to reduce transmissions but didn’t specify whether the goal would be to reach Covid Zero, the approach taken by mainland China, which deploys mass testing campaigns and lockdowns to stamp out infections.

Lee said his administration was working with Chinese officials to introduce quarantine-free travel for people coming from Hong Kong to the mainland. He also said quarantine requirements for international arrivals to Hong Kong could be adjusted to reduce inconveniences.

The city on Sunday reported a total of 1,828 new Covid cases, 147 of them imported. Health authorities said at a briefing that there were no new virusrelated deaths. One patient was in a critical condition and three were serious, they said.

Bloomberg News

Video shows Akron police kill Black man in hail of gunfire

A

KRON, Ohio—A Black man was unarmed when Akron police chased him on foot and killed him in a hail of gunfire, but officers believed he had shot at them earlier from a vehicle and feared he was preparing to fire again, authorities said Sunday at a news conference.

Akron police released video of the shooting of Jayland Walker, 25, who was killed June 27 in a pursuit that had started with an attempted traffic stop. The mayor called the shooting “heartbreaking” while asking for patience from the community.

It’s not clear how many shots were fired by the eight officers involved, but Walker sustained more than 60 wounds. An attorney for Walker’s family said officers kept firing even after he was on the ground.

Officers attempted to stop Walker’s car around 12:30 a.m. for unspecified traffic and equipment violations, but less than a minute into a pursuit, the sound of a shot was heard from the car, and a transportation department camera captured what appeared to be a muzzle flash coming from the vehicle, Akron Police Chief Steve Mylett said. That changed the nature of the case from “a routine traffic stop to now a public safety issue,” he said.

Police body camera videos show what unfolded after the roughly six-minute pursuit.

Several shouting officers with guns drawn approach the slowing car on foot, as it rolls up over a curb and onto a sidewalk. A person wearing a ski mask exits the passenger door and runs toward a parking lot. Police chase him for about 10 seconds before officers fire from multiple directions, in a burst of shots that lasts 6 or 7 seconds.

At least one officer had tried first to use a stun gun, but that was unsuccessful, police said.

Mylett said Walker’s actions are hard to distinguish on the video in real time, but a still photo seems to show him “going down to his waist area” and another appears to

show him turning toward an officer. He said a third picture “captures a forward motion of his arm.”

In a statement shared Sunday with reporters, the local police union said the officers thought there was an immediate threat of serious harm, and that it believes their actions and the number of shots will be found justified in line with their training and protocols. The union said the officers are cooperating with the investigation.

Police said more than 60 wounds were found on Walker’s body but further investigation is needed to determine exactly how many rounds the officers fired and how many times Walker was hit.

The footage released by police ends with the officers’ gunfire and doesn’t show what happened next. Officers provided aid, and one can be heard saying Walker still had a pulse, but he was later pronounced dead, Mylett said.

The chief said an officer firing at someone has to be “ready to explain why they did what they did, they need to be able to articulate what specific threats they were facing...and they need to be held to account.” But he said he is withholding judgment on their actions until they give their statements.

A handgun, a loaded magazine and an apparent wedding ring were found on the seat of the car. A casing consistent with the weapon was later found in the area where officers believed a shot had come from the vehicle.

State Attorney General Dave Yost vowed a “complete, fair and expert investigation” by the Ohio Bureau of Criminal Investigation and cautioned that “body-worn camera footage is just one view of the whole picture.”

Akron police are conducting a separate internal investigation about whether the officers violated department rules or policies. AP

www.businessmirror.com.ph

TheWorld BusinessMirror

3 dead, 3 critically wounded in shooting at Denmark mall

By Jan M. Olsen & Karl Ritter The Associated Press

C

OPENHAGEN, Denmark—A gunman opened fire inside a busy shopping mall in the Danish capital Sunday, killing three people and critically wounding three others, police said.

A 22-year-old Danish man was arrested after the shooting, Copenhagen police inspector Søren Thomassen told reporters, adding there was no indication that anyone else was involved in the attack, though police were still investigating.

Gun violence is relatively rare in Denmark.

Thomassen said it was too early to speculate on the motive for the shooting, which happened in the late afternoon at Field’s, one of the biggest shopping malls in Scandinavia and located on the outskirts of the Danish capital. When the shots rang out, some people hid in shops while others fled in a panicked stampede, according to witnesses.

“It is pure terror. This is awful,” said Hans Christian Stoltz, a 53-year-old IT consultant, who was bringing his daughters to see Harry Styles perform at concert scheduled for Sunday night near the mall. “You might wonder how a person can do this to another human being, but it’s beyond...beyond anything that’s possible.”

Thomassen said the victims included a man in his 40s and two “young people,” without giving details. Several others were injured, three of them critically, he said.

He said police received the first reports of a shooting at 5.37 p.m., and arrested the suspect 11 minutes later. Thomassen described the suspect as an “ethnic Dane,” a phrase typically used to mean someone is white.

Danish broadcaster TV2 published a grainy photo of the alleged gunman, a man wearing knee-length shorts, a vest or sleeveless shirt, and holding what appeared to be a rifle in his right hand. “He seemed very violent and angry,” eyewitness Mahdi Al-Wazni told TV2.

“He spoke to me and said it [the rifle] isn’t real as I was filming him. He seemed very proud of what he was doing.”

Danish Prime Minister Mette Frederiksen said the Scandinavian country had been hit by a “cruel attack.”

“It is incomprehensible. Heartbreaking.

Pointless,” she said. “Our beautiful and usually so safe capital was changed in a split second.”

Images from the scene showed people running out of the mall, and TV2 posted a photo of a man being put on a stretcher. After the shooting, an enormous contingent of heavily armed police officers patrolled the area, with several fire department vehicles also parked outside the mall.

Laurits Hermansen told Danish broadcaster DR that he was in a clothing store at the shopping center with his family when he heard “three, four bangs. Really loud bangs.

It sounded like the shots were being fired just next to the store.”

The shopping center is on the outskirts of Copenhagen just across from a subway station for a line that connects the city center with the international airport. A major highway also runs adjacent to the mall.

Organizers called off the Harry Styles concert, which had been scheduled at the nearby Royal Arena, by order of police.

On Snapchat, Styles wrote: “My team and I pray for everyone involved in the Copenhagen shopping mall shooting. I am shocked. Love H.” The royal palace said a reception with Crown Prince Frederik connected to the Tour de France cycling race had been canceled. The first three stages of the race were held in Denmark this year. The reception was due to be held on the royal yacht that is moored in Soenderborg, the town where the third stage ended.

In a joint statement, Queen Margrethe, her son Crown Prince Frederik and his wife, Crown Princess Mary, said: “We do not yet know the full extent of the tragedy, but it is already clear that more people have lost their lives and that even more have been injured.”

“The situation calls for unity and care,” they said in a statement.

The shooting came a week after a mass shooting in neighboring Norway, where police said a Norwegian man of Iranian origin opened fire during a LGBTQ festival, killing two and wounding more than 20.

It was the worst gun attack in Denmark since February 2015, when a 22-year-old man was killed in a shootout with police after going on a shooting spree in the capital that left two people dead and five police officers wounded.

Ritter reported from Unterseen, Switzerland.

Tuesday, July 5, 2022

A7

Worst Sydney flooding forces 30,000 residents to evacuate

S

YDNEY—More than 30,000 residents of Sydney and its surrounds were told to evacuate or prepare to abandon their homes Monday as Australia’s largest city faces its fourth, and possibly worst, round of flooding in less than a year and a half.

Days of torrential rain caused dams to overflow and waterways to break their banks, bringing a new flood emergency to parts of the city of 5 million people.

“The latest information we have is that there’s a very good chance that the flooding will be worse than any of the other three floods that those areas had in the last 18 months,” Emergency Management Minister Murray Watt said.

The current flooding might affect areas that were spared during the previous floods in March last year, March this year and April, Watt added.

New South Wales state Premier Dominic Perrottet said 32,000 people were impacted by evacuation orders and warnings.

“You’d probably expect to see that number increase over the course of the week,” Perrottet said.

Emergency services made numerous flood rescues Sunday and early Monday and were getting hundreds more calls for help.

Australia’s Bureau of Meteorology manager Jane Golding

said some areas between Newcastle, north of Sydney, and Wollongong, south of Sydney had received more than a meter (39 inches) of rain in the previous 24 hours. Some has received more than 1.5 meters (59 inches).

Those totals are near the average annual rainfall for coastal areas of New South Wales.

“The system that has been generating this weather does show signs that it will ease tomorrow, but throughout today, expect more rain,” Golding said.

Rain was forecast across New South Wales’s coast, including Sydney, all week, she said.

The Bureau of Meteorology says up to 12 centimeters (4.7 inches) of rain could fall in Sydney on Monday.

The f looding danger was highest along the Hawkesbury River, in northwest Sydney, and the Nepean River in Sydney’s west.

The bureau Monday afternoon reported major flooding at the Nepean communities of Menangle and Wallacia on Sydney’s southwest fringe.

Major flooding also occurred on the Hawkesbury at North

An emergency vehicle blocks access to the flooded Windsor Bridge on the outskirts of Sydney, Australia, on Monday, July 4, 2022. More than 30,000 residents of Sydney and its surrounds have been told to evacuate or prepare to abandon their homes on Monday as Australia’s largest city braces for what could be its worst flooding in 18 months. AP/Mark Baker

Richmond on Sydney’s northwest edge. The Hawkesbury communities of Windsor and Lower Portland were expected to be flooded Monday afternoon and Wisemans Ferry on Tuesday, a bureau statement said.

State Emergency Services Commissioner Carlene York said strong winds had toppled trees, damaging rooves and blocking roads. She advised against unnecessary travel.

Off the New South Wales coast, a cargo ship with 21 crewmembers lost power after leaving port in Wollongong on Monday morning. It was anchored near the coast and tugboats were preparing to tug it into safer, open waters.

The ship has engineers on board capable of repair ing the engine, port official John Finch told reporters. “Unfortunately, we just happen to be in some atrocious conditions at the moment,” he said, describing 8-meter (26-foot) swells and winds blowing at 30 knots (34 mph).

An earlier plan to airlift the ship’s crew to safety was

aba ndoned because of bad weather.

Repeated flooding was taking a toll on members of a riverside community southwest of Sydney, said Mayor Theresa Fedeli of the Camden municipality where homes and businesses were inundated by the Nepean River over Sunday night.

“It’s just devastating. They just keep on saying ‘devastating, not again,’” Fedeli said.

“I just keep on saying... ‘We’ve got to be strong, we will get through this.’ But you know deep down it’s really hitting home hard to a lot of people,” she added.

Perrottet said government and communities needed to adapt to major flooding becoming more common across Australia’s most populous state.

“To see what we’re seeing right across Sydney, there’s no doubt these events are becoming more common. And governments need to adjust and make sure that we respond to the changing environment that we find ourselves in,” Perrottet said. AP

With no fuel and no cash, Singapore urged to halt hanging of Malaysian drug trafficker Sri Lanka closes schools K

By Bharatha Mallawarachi The Associated Press

C

OLOMBO, Sri Lanka—Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn’t enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country’s expatriates to send money home through banks to finance new oil purchases.

A huge foreign debt has left the Indian Ocean island with none of the suppliers willing to sell fuel on credit. The available stocks, sufficient for only several days, will be provided for essential services, including health and port workers, public transport and food distribution, officials said.

“Finding money is a challenge. It’s a huge challenge,” Power and Energy Minister Kanchana Wijesekera told reporters.

He said the government has ordered new fuel stocks and the first ship with 40,000 metric tons of diesel is expected to arrive on Friday while the first ship carrying gasoline would come on July 22.

Several other fuel shipments are in the pipeline.

But he said authorities are struggling to find $587 million to pay for the fuel. Wijesekera said that Sri Lanka owed about $800 million to seven fuel suppliers.

Last month, schools were closed nationwide for a day due to fuel shortages and had remained closed for the last two weeks in urban areas.

Schools will remain shut until Friday.

Authorities also announced countrywide power cuts of up to three hours a day from Monday because they can’t supply enough fuel to power generating stations. Sweeping power cuts have been a blight on Sri Lanka’s economy for months, along with severe shortages of essentials including cooking

gas, medicine and food imports.

Wijesekera said the main problem is the lack of dollars and appealed to some 2 million Sri Lankans working abroad to send their foreign exchange earnings home through banks instead of informal channels.

He said workers’ remittances, which usually stood at $600 million per month, had declined to $318 million in June.

According to the Central Bank, the remittances—the nation’s main foreign exchange earner—dropped from $2.8 billion in the first six months of 2021 to $1.3 billion in the same period this year for a decline of 53 percent.

The drop came after the government last year ordered the mandatory conversion of foreign currency. It said that black-market premiums have led people to hoard foreign currency.

Sri Lanka’s has been getting most of its fuel needs from neighboring India, which provided it with a credit line. The government said it was also negotiating with suppliers in Russia and Malaysia.

Sri Lanka has suspended repayment of about $7 billion in foreign loans due this year out of $25 billion to be repaid by 2026. The country’s total foreign debt is $51 billion.

The economic meltdown has triggered a political crisis with widespread anti-government protests erupting across the country. Protesters have blocked main roads to demand gas and fuel, and television stations showed people in some areas fighting over limited stocks.

In the capital, Colombo, protesters have been occupying the entrance to the president’s office for more than two months to demand President Gotabaya Rajapaksa’s resignation. They accuse him and his powerful family that included several siblings holding top government positions of plunging the country into the crisis through corruption and misrule.

UALA LUMPUR, Malaysia—Antideath penalty activists in Malaysia urged Singapore’s government on Monday to halt the execution of a convicted Malaysian drug trafficker this week, the second in less than three months.

Kalwant Singh, who was convicted in 2016 of bringing heroin into Singapore, is scheduled to be hanged Thursday, activists said. The execution of another Malaysian in late April sparked an international outcry because he was

believed to be mentally disabled.

The Anti-Death Penalty Asia Network delivered a statement to Singapore’s embassy urging that Kalwant’s execution be suspended to allow him an opportunity to file for clemency.

It said Kalwant, who was 23 when he was arrested in 2013, had been threatened with violence and forced to make drug deliveries to Singapore to repay a football gambling debt, and that factor was not adequately considered during his trial. AP

A6 A8

BusinessMirror

Tuesday, July 5, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

3D ANALYZER INFORMATION TECHNOLOGIES INC. 7-8/f Double Dragon Plaza, 255 Edsa Cor. Macapagal Blvd., Barangay 76, Pasay City CHAU THE THINH Customer Service Representative - Mandarin Speaking 1.

Brief Job Description: Attracts potential customers by answering products and service questions; suggesting information about other products and services; maintains customer records by updating account information in mandarin format.

NGUYEN VIET HUNG Customer Service Representative - Mandarin Speaking

2.

Brief Job Description: Attracts potential customers by answering products and service questions; suggesting information about other products and services; maintains customer records by updating account information in mandarin format.

ZHAN, JINGSHI Customer Service Representative - Mandarin Speaking

3.

Brief Job Description: Attracts potential customers by answering products and service questions; suggesting information about other products and services; maintains customer records by updating account information in mandarin format.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

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

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

4.

5.

6.

Brief Job Description: Providing administrative support and managing queries of employees.

Brief Job Description: Manage and accept all incoming payments.

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

ENJELIA Bilingual Finance Support Specialist

Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

CHARLES Indonesian - Speaking Customer Service Officer 7.

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

ECKING BERKAT MENDROFA Indonesian - Speaking Customer Service Officer

8.

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

KELVIN Indonesian - Speaking Customer Service Officer

9.

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

KUSBIANTO Indonesian - Speaking Customer Service Officer

10.

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

ALBERT Indonesian Speaking Customer Service Officer

11.

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

BOBBY THEODORA Indonesian Speaking Customer Service Officer

12.

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

CHANDRA WIJAYA Indonesian Speaking Customer Service Officer

13.

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

JOHAN Indonesian Speaking Customer Service Officer

14.

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

JUNATO Indonesian Speaking Customer Service Officer 15.

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

KEVIN JEREMY Indonesian Speaking Customer Service Officer 16.

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

18.

19.

20.

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

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

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

ADIYANTO CHANDRA Indonesian-speaking Customer Service Officer

21.

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

HARIYANTO Indonesian-speaking Customer Service Officer 22.

Brief Job Description: Manage large amount of calls, handle customer concerns SURIYA SANTOSO Indonesian-speaking Customer Service Officer

23.

Brief Job Description: Manage large amount of calls, handle customer concerns SYLVIA Indonesian-speaking Customer Service Officer

24.

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

Brief Job Description: Manage large amount of calls, handle customer concerns VINCENT WIJAYA Indonesian Speaking Customer Service Officer

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

Brief Job Description: Manage large amount of calls, handle customer concerns VENA Indonesian Speaking Customer Service Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign language speaking.

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

THELA FIORENTIN Indonesian Speaking Customer Service Officer

Basic Qualification: Foreign language speaking.

ELICE Bilingual Finance Support Specialist

Brief Job Description: Manage and accept all incoming payments

17.

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

7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati BILLY HADIYANTO Bilingual Admin Officer

MELY SUEVI Indonesian Speaking Customer Service Officer

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Manage large amount of calls, handle customer concerns WINNIE PRILLY GARCIA Indonesian-speaking Customer Service Officer

25.

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

SEPTIA SABETINA SILABAN Order To Cash Operations Analyst 26.

Brief Job Description: Responsible for processing AR transactions such as billing, posting customer payments, gathering and analyzing financial information and collections.

Salary Range: Php 30,000 - Php 59,999 PEREIRA, STEVE ANTHONY Program & Project Mgmt Senior Analyst

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

27.

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

Brief Job Description: Develop and execute end-to-end management activities. Define project scope with key stakeholders and effectively manage milestones and dependencies.

Support the management of financial, contractual, and operational commitments. Monitor delivery performance and quality using metrics and status reporting. Mitigate risk as defined in project plan.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

JABUR, GERALDINE MANTIONGO Security Delivery Analyst

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE Basic Qualification: Excellent in reading, writing and speaking in foreign language.

No.

29.

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for activities assigned by the Service Delivery Manager

31.

32.

Basic Qualification: Minimum of 2+ years work experience required with at least 1 year experience in a similar role. Fluent In both French and English language (tef Canada certified of French and ielts for English)

HANAI, RYODAI Transaction Processing Analyst

Basic Qualification: Accounting

Brief Job Description: Performs accounts payable transactions

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

UCHIDA, KIYOTAKA Transaction Processing Analyst

Basic Qualification: Accounting

Brief Job Description: Performs accounts payable transactions

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

GARZON RIAÑO, LEONARDO Bilingual Spanish Analyst 33.

Brief Job Description: Provides customer service in foreign language, taking phone calls, answering to customer inquiries through e-mails, and solving customer issues.

SALUJA, KANIKA Business Process Services Portfolio Manager 34.

28.

Brief Job Description: Candidate must ensure that the security operations center runs within the prescribed and agree sla and operations are performed based on the in-scope services covered by the sow, security event monitoring and incident handling • expected support covers English, Spanish, Portuguese, and French languages.• responsibilities also includes security event monitoring and incident handling on a 24/7 basis• maintenance of used cases and log source tracking.• service review and reporting.• tracking open high and critical vulnerabilities.• translation task for both ticket handling and customer response.

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

Basic Qualification: Excellent writing, reading, listening and talking in Spanish language.

Preferably with prior experience of at least 1 year in similar BPO outfit.

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

Brief Job Description: The Business Process Services (BPS) Portfolio Manager will lead a team of colleagues dedicated to alleviating administrative burdens that unnecessarily consume valuable resources within the Technologies Organization.

Basic Qualification: Lead daily workflow, performance and support career path and development plan the team Provide mentorship and feedback to direct reports to ensure growth of individual team members Run communication channels (Team Mailbox, Square page, and slack channels) for our different collaborators Build and execute process and user guide documentation to ensure seamless servicing Salary Range: Php 90,000 - Php 149,999

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati

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

Basic Qualification: Equires identifying and assessing complex problems for area of responsibility.

Creates solutions in situations in which analysis requires an in-depth evaluation of variable factors. Requires adherence to trategic direction set by senior management when establishing nearterm goals. Interaction is with senior management at a client and/or within accenture, involving matters that may require acceptance of an altemate approach. Able to identify and manage risk or consequences in the evenet of failure, as measured by range of expected impact such as within a team or across as team or area of responsibility and level of risk. Perform translation tasks within accenture and on the client environment.

Minimum of 5 years experience in security operations management.

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

AMERICAN EXPRESS INTERNATIONAL, INC. 15th, 25th To 30th/f Bonifacio One Technology Tower (e-square Information Technology Park), 3030 Rizal Drive, West Bgc, Fort Bonifacio, City Of Taguig

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

Basic Qualification: 1-2 years experience in an analytical or customer service role, strong, effective written and oral engling/language communication skills, Impeccable attention to detail ability to multitask under pressure in an ever changing environment professional knowledge of andriod os, ios & Mac os desired, ability to keep up to date in a very fast paced environment, staying on top of policy, procedure and workflow changes & evolution

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

ALLSECTECH MANILA, INC. 3rd Floor, Market! Market! Mall, Bonifacio Global City, City Of Taguig

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

Basic Qualification: Strong read and write skills in English

Basic Qualification: With related work experience

Brief Job Description: Providing first level of support for customer and system incidents and request using basic technical and service knowledge; assuming initial ownership for the coordination, investigation and documentation of customer and system incidents; performing initial level of diagnosis of problem and incidents and resolve them when appropriate; coordinate Resolution of issue with the responsible party (e.g. technical team service desk), as necessary; interpreting problems or error at a basic level & assessing the risk of events and escalate appropriately to protect client services; demonstrating a good understanding of the customer’s business needs and apply them to the management of system events & incidents.

Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

QUALIFICATION AND SALARY RANGE

DIBAYA, JEAN RENE TSHIKA Sw/app/cloud Tech Support Sr Analyst

Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

Basic Qualification: Excellent in Reading, Writing, and Speaking in Foreign Language

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SAKURAI, KYOHEI Service Delivery Ops Team Lead

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

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

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

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

ESTABLISHMENT / ADDRESS

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

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

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

www.businessmirror.com.ph

35.

LEE, YU-HSUAN Mandarin Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer’s needs.

HOANG NGUYEN TRUC MAI Vietnamese Language - Officer Customer Service 36.

Brief Job Description: Initiate conversation to uncover customer’s needs.

Basic Qualification: Must fluently speak and write vietnamese language and can work under pressure.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write vietnamese language and can work under pressure.

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

37.

38.

HUYNH DUC QUANG Vietnamese Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer’s needs.

NGUYEN THI HANG Vietnamese Language - Officer Customer Service Brief Job Description: Initiate conversation to uncover customer’s needs.

Basic Qualification: Must fluently speak and write vietnamese language and can work under pressure.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write vietnamese language and can work under pressure.

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

BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

MISHRA, JITENDRA KUMAR Heavy Equipment Operator Specialist 39.

Brief Job Description: Operating the company heavy equipment in a safe and efficient manner.

MOHAMED ELSAYED AHMED ALI Heavy Equipment Operator Specialist 40.

Brief Job Description: Operating the company heavy equipment in a safe and efficient manner.

Basic Qualification: Minimum of 10-year experience in dry and wet sandfill in an international dredging and Land reclamation company.

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Minimum of 10-year experience in dry and wet sandfill in an international dredging and Land reclamation company.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MOHAMED RAMADAN ABDELMONEIM MOHAMED Heavy Equipment Operator Specialist

41.

Brief Job Description: Operating the company heavy equipment in a safe and efficient manner.

EBID IBRAHIM TAWFIK EBID Sand Fill Master 42.

Brief Job Description: Responsible for the safe and correct execution of the sand fill plan. To lead a team of personnel (operators and pipe filters) on a wet sand fill.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Minimum of 10-year experience in dry and wet sandfill in an international dredging and Land reclamation company.

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

CECILIA LAW SHWU YIN Bi-lingual Speaking Customer Service Officer 56.

Basic Qualification: Must have extensive work experience of at least 3 years in a sand fill position with an international Dredging and Land reclamation company or international construction projects.

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

43.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

WANG, NANNAN Chinese It Support Specialist

44.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

LIU, CHIH-KUN It Support Specialist

45.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

MA THI LIEM It Support Specialist

46.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

NG ZHAO XIAN It Support Specialist

47.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

PHAM THI HONG NHUNG It Support Specialist

48.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

PHUNG VINH LAM It Support Specialist

49.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

THACH HOAI THUONG It Support Specialist

50.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

TO THI HUYEN TRANG It Support Specialist

51.

Brief Job Description: Shall answer incoming phone calls from Chinese clients and troubleshoot customer technical problems with computer software and hardware.

LAM ZHEN YI Bi-lingual Speaking Customer Service Officer 57.

52.

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.

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

NGUYEN THI QUYNH HOA Bi-lingual Speaking Customer Service Officer

Basic Qualification: Must be fluent in Chinese language (Writing and Speaking)

Brief Job Description: Resolves product or service by clarifying the customer’s complaint. Determines the cause of the problem, selects and explains the best solution to solve the problem, expedites correction or adjustment, follows up to ensure resolution.

58.

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

WONG WEI KANG Bi-lingual Speaking Customer Service Officer

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (writing and speaking)

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

Basic Qualification: Proven experience as mandarin electrical commissioning analyst, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

53.

Brief Job Description: The mandarin mechanical project supervisor 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.

Basic Qualification: Proven experience as mandarin mechanical project supervisor, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

TIAN, LUSHENG Mandarin Project Controls Analyst 54.

Brief Job Description: The mandarin project controls 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.

Brief Job Description: Resolves product or service by clarifying the customer’s complaint. Determines the cause of the problem, selects and explains the best solution to solve the problem, expedites correction or adjustment, follows up to ensure resolution.

PHONCHAI, SURIYAWONG Process Specialist 60.

Brief Job Description: Service support solutions includes diagnosis, resolution and reporting of customer issues and questions.

EVELYN YONG CHIN FOONG Chinese Speaking Admin Associate 61.

Brief Job Description: Assist/help customers, give customers information about product and services

YANG, ZHUANZHUAN Chinese Speaking Admin Associate 62.

Brief Job Description: Assist/help customers, give customers information about product and services

LIAO, ZHIBIAO Chinese Speaking Data Entry Clerk 63.

Brief Job Description: Assist/help customers, give customers information about product and services

VONG PHAT Chinese Speaking Data Entry Clerk 64.

Brief Job Description: Assist/help customers, give customers information about product and services

55.

LI, JUNZHEN Construction Technician Brief Job Description: Construction Supervision

65.

WU, MING-HSIANG Mandarin Customer Service Representative Brief Job Description: Responsible for handling service support calls

TRINH THI NHAN Vietnamese Speaking Customer Service Representative 66.

CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Basic Qualification: BS or BA degree holder; native level with Thai written and spoken.

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

Basic Qualification: With atleast 6 months customer service experience / Good in oral communication and written

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

Basic Qualification: With atleast 6 months customer service experience / Good in oral communication and written

SONG, XUPENG Marketing Staff Mandarin Speaking 70.

HAN, SUMIN Asssitant Product Manager 71.

Brief Job Description: Immediately Escalating Serious Complaints or Issues That you are not Equipped to

TONG, YIJUN Chinese Speaking Program Designer 67.

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

CHEN, MINGWEI Marketing And Sales Agent

68.

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas.

Brief Job Description: Strategically develops, manages, and integrates a set of service-related features and applies a combination of business analytics, creativity, and flexibility to contribute to the overall online game services.

MOHAN, ASHISH Senior Assistant Vice President- Operations

72.

Brief Job Description: Provide leadership to develop performance management culture. Encourage innovation & creativity and at the same time institutionalize processes and systems to ensure compliance to processes and procedures. Leadership to inculcate operational rigor ensuring a high level of sla achievement and client service orientation. Regular review of operations performance. Financial performance & attrition and esat performance and leading the development and execution of action plans. Bringing-in and nurture talent at the leadership level and ensuring and implementing a succession plan for all direct reports.

Attend all business reviews and own action plans.

Establish & maintain personal relationship with all clients with capability to influence decision making at the client end.

73.

74.

Basic Qualification: With 10+ years of work experience in the financial services sector, managing large operations at a leadership level in BPO companies with international exposure to a customer services environment. A balance of technical, business and leadership skills. Bachelor’s degree Salary Range: Php 150,000 - Php 499,999

GUO, HAOJIE Customer Service Representative (csr) Brief Job Description: Customer Service Representative (CSR)

Basic Qualification: High School Graduate in Chinese Curriculum , Can Speak and Write Fluent Chinese Mandarin , Can Operate Computer Mandarin Characters

XIANG, KAI Customer Service Representative (csr) Brief Job Description: Customer Service Representative (CSR)

Basic Qualification: High School Graduate in Chinese Curriculum , Can Speak and Write Fluent Chinese Mandarin , Can Operate Computer Mandarin Characters Salary Range: Php 30,000 - Php 59,999

FLYING FUTURE SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati QIU, YUTONG Mandarin Customer Service 75.

Brief Job Description: Opens customers account by recording account information.

NEOW ZHEN CHANG Mandarin Operations Specialist

76.

Brief Job Description: Full time operations assistant to assist on administrative work of operations team.

NG WEE KHONG Mandarin Operations Specialist

77.

78.

79.

Basic Qualification: Can speak Mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin.

Brief Job Description: Full time operations assistant to assist on administrative work of operations team.

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

YU, CHI-YI Mandarin Operations Specialist

Basic Qualification: Can speak Mandarin.

Brief Job Description: Maintain accurate sales record.

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

WU, XIUYAN Mandarin Technical Support Brief Job Description: Responsible for the smooth running of computer systems and ensuring users get maximum benefits from them.

Basic Qualification: Can speak Mandarin.

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

FUTURENET AND TECHNOLOGY CORP. 4502 The Finance Centre, 26th Street And 9th Ave., Fort Bonifacio, City Of Taguig

CHEN, PENG Technical Consultant 80.

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

Brief Job Description: Consulting with management and other departments as required; Performing analyses on hardware, software, and network capabilities

MENG, HAN Technical Consultant 81.

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

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

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

Basic Qualification: Can contributes information, ideas and researches to help develop marketing strategies; Can help to detail, design and implement marketing plans for each product or service being offered.

Basic Qualification: Experience in business management.

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower, Moa Coral Way, Barangay 76, Pasay City

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

EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila

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

EXLSERVICE PHILIPPINES, INC. 6th Floor, One E-com Center, Harbor Drive, Mall Of Asia Complex, Pasay City

Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese

Brief Job Description: Monitor, review and report on all Marketing activity and result.

Basic Qualification: Analyze the productivity of the Marketing plans and projects recommend to Senior Management

ELITE GLOBAL SOURCING PHIL. INC. 6/f Units 607-610 Raffles Corporate Center, F. Ortigas Jr. Ave., Ortigas Center, San Antonio, City Of Pasig

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

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

Basic Qualification: Can contributes information, ideas and researches to help develop marketing strategies; Can help to detail, design and implement marketing plans for each product or service being offered.

EFINANCING INC. Unit 11d-2 Ety Bldg., 484 Quintin Paredes St., 027, Barangay 289, Binondo, City Of Manila

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

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas.

QUALIFICATION AND SALARY RANGE

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

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

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

Basic Qualification: Construction Experience Management Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese. 1 year experience of working in a similar role.

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 CHINA INTERNATIONAL WATER AND ELECTRIC CORP. (BRANCH OFFICE) 5/f, Two E-com Mall Of Asia Complex Bldg., Harbor Drive St., District 1, Barangay 76, Pasay City

69.

CRONYX INC. No. 4th-10th Flr. Yinhope Bldg., Dela Rama Cor. Zoili Hilario St., Seascape Village, Ccp Complex Subd. Zone 10, Barangay 76, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin project controls analyst, familiarity, knowledge and awareness on machinery and heavy equipment use by company.

Demonstrable experience in developing strategic business plan.

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese. 1 year experience of working in a similar role.

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

Basic Qualification: Must be fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese. 1 year experience of working in a similar role.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LEE, CHANGJAE Marketing And Sales Agent

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese language (writing and speaking)

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese. 1 year experience of working in a similar role.

No.

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

Basic Qualification: Must be fluent in Chinese language (writing and speaking)

Basic Qualification: Must be fluent in Chinese language (writing and speaking)

QUALIFICATION AND SALARY RANGE

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

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

YOU, GUOSEN Mandarin Mechanical Project Supervisor

Brief Job Description: Resolves product or service by clarifying the customer’s complaint. Determines the cause of the problem, selects and explains the best solution to solve the problem, expedites correction or adjustment, follows up to ensure resolution.

Basic Qualification: Must be fluent in Chinese language (writing and speaking)

CHINA HARBOUR ENGINEERING COMPANY 5/f Section E Ramon Magsaysay Center, 1680 Roxas Blvd., 076, Barangay 699, Malate, City Of Manila LI, YUAN Mandarin Electrical Commissioning Analyst

Brief Job Description: Resolves product or service by clarifying the customer’s complaint. Determines the cause of the problem, selects and explains the best solution to solve the problem, expedites correction or adjustment, follows up to ensure resolution.

A9

ESTABLISHMENT / ADDRESS

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

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg., Coral Way Drive Cor. Macapagal Ave., Barangay 76, Pasay City LIU, LING Chinese It Support Specialist

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Tuesday, July 5, 2022

Brief Job Description: Consulting with management and other departments as required; Performing analyses on hardware, software, and network capabilities

OU, JUNRONG Technical Consultant 82.

Brief Job Description: Consulting with management and other departments as required; Performing analyses on hardware, software, and network capabilities

Basic Qualification: College Graduate; Excellent Verbal and Written Communication Skills in Both Mandarin and English; With the Experience in Telecommunication Consultation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate; Excellent Verbal and Written Communication Skills in Both Mandarin and English; With the Experience in Telecommunication Consultation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate; Excellent Verbal and Written Communication Skills in Both Mandarin and English; With the Experience in Telecommunication Consultation Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A10 A6 Tuesday, July 5, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SHA, XINGYUE Technical Consultant 83.

Brief Job Description: Consulting with management and other departments as required; Performing analyses on hardware, software, and network capabilities

ZHUANG, JINJUN Technical Consultant 84.

Brief Job Description: Consulting with management and other departments as required; Performing analyses on hardware, software, and network capabilities

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate; Excellent Verbal and Written Communication Skills in Both Mandarin and English; With the Experience in Telecommunication Consultation

No.

AGUSTINA Indonesian Customer Support Representative 96.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate; Excellent Verbal and Written Communication Skills in Both Mandarin and English; With the Experience in Telecommunication Consultation Salary Range: Php 30,000 - Php 59,999

85.

Brief Job Description: Assist in collaborating with management on sales goals, planning and forecasting.

Basic Qualification: 21 years old and above with business development experience.

97.

98.

86.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin speaking

99.

LA THI HUE Chinese Speaking Business Financial Officer 87.

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

88.

Brief Job Description: 1. In charge of project rollout process design and implementation. 2. To understand and analyze key wireless and fix-network projects’ process and operation.

Basic Qualification: 1. Must be highly skilled and experienced in telecom project management.

2. With technical skills in wireless network architecture design; wireless site solution design; wireless network evolution solution design; MW network planning; MW implementation solution design and wireless network rollout solution design 3. Must have a Master’s Degree in Optical Engineering. 4. Highly proficient in Chinese and English language.

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

PENG, HAIJUN Supply Chain Manager For Network Project 89.

Brief Job Description: 1. To streamline business and supply annual budget according to guidance. 2. Assess risks and opportunities, identify key assumptions, balance business and supply plan & complete the annual supply plan.

Basic Qualification: 1. Must have at least 5-year work experience in planning, budgeting and forecasting management.

2. Must have good communication skills. 3.

Knowledgeable on basic theory and of supply network design. 4. Highly proficient in Chinese and English language.

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

90.

Brief Job Description: Assist/help customers, give customers information about product and services

CHIENG BAO QING Chinese Speaking Program Designer 91.

Brief Job Description: Assist/help customers, give customers information about product and services

FANDI TAN AGNES Chinese Speaking Program Designer 92.

Brief Job Description: Assist/help customers, give customers information about product and services

LOC THI DIEP Chinese Speaking Program Designer 93.

Brief Job Description: Assist/help customers, give customers information about product and services

TING LING Chinese Speaking Program Designer 94.

Brief Job Description: Assist/help customers, give customers information about product and services

YANG, LIANGLIANG Chinese Speaking Program Designer 95.

Brief Job Description: Assist/help customers, give customers information about product and services

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

SURENDRO UTOMO Mandarin Purchasing Coordinator 102.

103.

Brief Job Description: Study & analyze market information and relay them to Komatsu head office

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

INVECH TREASURE PROCESSING CORPORATION 3rd Floor, E Six West Campus Le Grand Avenue, Mckinley West,, Fort Bonifacio, City Of Taguig

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

NAKAMOTO, MITSUO Executive Vice President/chief Finance Officer/ treasurer 104.

Brief Job Description: Responsible For Planning, Implementing, Managing, And Running All The Company’s Financing, Accounting, And Tax Activities

MUKAI, YUKINORI General Manager For Finance And Accounting 105.

Brief Job Description: Supervises All Financial Tasks Of The Company And Ensures The Beneficial Use Of Capital And Resources

111.

106.

Brief Job Description: Manage the team’s workload and ensure timely and accurate delivery of tender offers while at the same time keeping a balance on overtime hours.

112.

Brief Job Description: Answering service questions, suggesting information about other products and services in Chinese language.

LI, KEBING Marketing Supervisor 108.

Brief Job Description: Coordinating and implementing marketing and sales for each department in Chinese Language.

HUANG, ZIYE Sales Manager 109.

Brief Job Description: Requires to manage a sales department and ensure the team of sales employees are operating effectively.

110.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in Business Management, Excellent Communication skills verbal or written.

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

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

113.

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

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

114.

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

Basic Qualification: Fluent in Mandarin and English language both in written and verbal. Must familiar in expert planning and administrative writing and reporting skills.

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

Basic Qualification: At least 10 yrs’ experience in a managerial position, preferably in a company related to manufacturing/ distributing heavy equipment, excellent communications skills (English & Nihongo)

Basic Qualification: High Level Experience Of Corporate Management, Project Financing, In Depth Knowledge Of Financing, Accounting And Tax

115.

116.

117.

118.

119.

120.

121.

122.

123.

124.

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

Basic Qualification: Has responsibility for work scope including but not limited to collections.

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NANG HSENG HAN Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NANG SAN NGIN Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries SAI KYAW MYINT Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires SAI THANT ZIN TUN Burmese Customer Service Representative

Salary Range: Php 500,000 and above Basic Qualification: High Level Experience Of Accounting, Tax And Financial Roles,Data Analysis And Financial Modeling Skills

Brief Job Description: Managing incoming calls and customer service inquiries

KYIN CHWIN Burmese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in VIETNAMESE and at least college level with related BPO experience.

CHIT THET WAI Burmese Customer Service Representative

KYAW MYINT Burmese Customer Service Representative

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

125.

126.

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

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

CAI, HONGFU Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries CHEN, FUSHENG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DENG, YUANBO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DING, TAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DUAN, YANYAN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries FAN, YUHANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries GAN, JINGYUAN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HAN, CHENGLIN Chinese Customer Service Representative

Basic Qualification: The position requires to attract potential customer

Brief Job Description: Managing incoming calls and customer service inquires

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

HAO, YUNPENG Chinese Customer Service Representative

128.

Basic Qualification: To provide sales expertise, data and department process improvements.

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

Basic Qualification: To generate hit revenue forecast and meet customer needs and preparation of reports in Chinese language.

129.

130.

Brief Job Description: Managing incoming calls and customer service inquires HONG, YANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HUO, WEILONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

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

MCP BUSINESS CONSULTANCY INC. Gmf Bldg., Unit B Armstrong Avenue Cor., Yosemite Subd.,, Moonwalk, City Of Parañaque CAI, ZHENWEI Marketing Specialist

Basic Qualification: Bachelor’s degree in Business Management, Excellent Communication skills verbal or written.

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

127.

107.

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

QUALIFICATION AND SALARY RANGE

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

MANNAGE RESOURCES TRADING CORP. Unit C-d 17th/f Marco Polo Hotel Ortigas,, Manila Sapphire, San Antonio, City Of Pasig PU, LING Chinese Sales Associate

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

LAI, YEN-CHEN Visa Consultant

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

MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 6-8 North Wing, Estancia Offices, Capitol Commons, Meralco Ave., Oranbo, City Of Pasig QUINTANILLA MARTINEZ, KARLA FERNANDA Team Leader

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIAO, ZHEN Marketing Specialist

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

LBS DIGITAL INFRASTRUCTURE CORP. Unit 1 7th Floor Three/neo Building 3rd Avenue Corner 30th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

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

No.

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

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

Brief Job Description: Design and maintain all vendors’ reports and evaluate all issues and assist to prepare all data reports for all purchasing system and manage all buying trends.

Coordinate with supervisors and provide support to all products.

ASAKURA, TAKESHI Marketing Manager

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

QUALIFICATION AND SALARY RANGE

KOMATSU LTD- MANILA REPRESENTATIVE OFFICE Ground Floor Maxima Bldg., 908 Quezon Ave. Cor. Dr. Garcia, Paligsahan, Quezon City

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

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

ESTABLISHMENT / ADDRESS

JIANGSU DIBANG CONSTRUCTION PHILIPPINES CORPORATION Unit 2106-a West Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig

INFOVINE INC. 8th, 9th, 10th/f Aspire Corporate Plaza Bldg., Macapagal Blvd. St., Zone 10, Barangay 76, Pasay City BUI KHAC DOAN Chinese Speaking Program Designer

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

CAO VAN HUY Vietnamese Customer Support Specialist

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

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

ZHANG, WANXIANG Senior Project Manager For Network Lte Project

100.

101.

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

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

PHAM VAN DONG Vietnamese Customer Support Representative

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

GRAND PREMIUM CREST HOLDING INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati

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

NGUYEN THI YEN Vietnamese Customer Support Representative

GLOBALLGA BUSINESS PROCESS OUTSOURCING, OPC Ground Level, Level 2-5 Floor, Silver City 4, Ortigas East, Ugong, City Of Pasig

RICKY SHEN Customer Service Representative Mandarin Speaking

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

DUONG KIM HOANG Vietnamese Customer Support Representative

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

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing costumer needs

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

CAO MINH HOANG Vietnamese Customer Support Representative

GAMMA INTERACTIVE INC. 21/f Alphaland Makati Place, 7232 Ayala Ave. Cor. Malugay St., Bel-air, City Of Makati BOBBY TING TIEW CHUONG Business Development Chinese Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Basic Qualification: Bachelor’s degree in Business Management, Excellent Communication skills verbal or written.

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

131.

132.

KANG, SHIRU Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

KANG, XIAOMING Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write chinese language.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

133.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, HAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LI, PENGFEI Chinese Customer Service Representative

134.

135.

136.

137.

138.

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

LIAO, YI-CHUN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LU, WEIDONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries SUN, CHAOYANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires WANG, HULIN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires WANG, JUN Chinese Customer Service Representative

139.

140.

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

WANG, ZHIHAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries WEN, RONGHAI Chinese Customer Service Representative

141.

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

XIONG, DONG Chinese Customer Service Representative

142.

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

YANG, TINGZHONG Chinese Customer Service Representative

143.

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

YANG, YUE Chinese Customer Service Representative

144.

145.

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

YANG, ZHIPENG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YU, QIAOYUN Chinese Customer Service Representative

146.

147.

148.

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

AGUS RIANTO Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries BENNY Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries EFENDY Indonesian Customer Service Representative

149.

150.

151.

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LILIYANA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries MICHAEL CHAN Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries MICHELLI Indonesian Customer Service Representative

152.

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries RINA Indonesian Customer Service Representative

153.

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

SEPTIAN Indonesian Customer Service Representative

154.

155.

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

SUNARTI Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, Read, and Write chinese language

No.

156.

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

157.

158.

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

159.

160.

161.

162.

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

163.

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

164.

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

165.

166.

167.

168.

169.

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

170.

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

171.

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

172.

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

173.

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

174.

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

175.

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

176.

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

177.

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LAU HON YONG Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LEE KIN WEI Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LEE TSHEN YEAN TYSONN Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

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

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

BANH THI HONG NGOC Vietnamese Customer Service Representative

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

YONG HIE KING Malaysian Customer Service Representative

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

WOO JIN YAN Malaysian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries

LOH WEI ZIAN Malaysian Customer Service Representative

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

CHUNG ZHI LEONG Malaysian Customer Service Representative

KOO KOK HON Malaysian Customer Service Representative

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

KONG CHEN NGIE Malaysian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries

JEE WAN HOO Malaysian Customer Service Representative

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

SUTINA Indonesian Customer Service Representative

CAMERON KONG Malaysian Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

178.

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries CHU THI MINH TAM Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DANG QUANG THIET Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DANG THI GIANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries DOAN THAI NGOC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries HA VAN MANH Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HO PHUC DINH Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HO VAN SINH Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HOANG HOAI DUNG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HOANG NHAT TRUNG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HOANG THI TRUNG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

Tuesday, July 5, 2022

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read, and write Chinese language

No.

179.

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

180.

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

181.

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

182.

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

183.

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

184.

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

185.

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

186.

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

187.

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

188.

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

189.

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

190.

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

191.

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

192.

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

193.

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

194.

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

195.

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

196.

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

197.

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

198.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HOANG THI VUI Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HOANG TIEU TUYET Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

HOANG VAN THIEN Vietnamese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires.

LAI PHI DIN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LAM HOANG QUY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LE DUC SY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LE NGUYEN HUYEN LY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LE TUAN ANH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LO VAN QUYET Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LUU VAN HO Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN CONG MINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN DUC QUOC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN HUU MAO Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGUYEN MANH TUYEN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGUYEN THI HOP Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGUYEN TIEN DUC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGUYEN VAN PHUC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NONG BINH VUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires PHAM PHUOC TAI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires PHAM VAN TRUONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires

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

PHAN THI TU ANH Vietnamese Customer Service Representative

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

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

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

199.

200.

201.

Brief Job Description: Managing incoming calls and customer service inquires

TA MAC QUANG LONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

THAN THI UYEN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read, and write Chinese language.

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

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

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

A11

BusinessMirror

A12 A6 Tuesday, July 5, 2022

ESTABLISHMENT / ADDRESS No.

202.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TRAN THI HONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TRAN THI PHUONG Vietnamese Customer Service Representative

203.

204.

205.

206.

207.

208.

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

TRAN VAN LINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TSAN TRACH HOA Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries VI VAN NGOC Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries VO THI BICH THAO Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries VU LINH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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

219.

220.

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

221.

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

222.

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

223.

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

209.

Brief Job Description: Part of Global Client Service Team. Provide support for Korea-based clients when it comes to questions about MSCI’s portfolio and risk management platforms.

Basic Qualification: Excellent verbal & written communication skills in English and Korean. At least one year work experience in a global team. Ability to articulate complicated concepts or methodologies verbally or in writing. Good understanding of financial topics such as financial instruments (especially derivatives), Market Risk, Credit Risk, Value-At-Risk and Modern Portfolio Theory.

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

NCH CUSTOMER SUPPORT SERVICES, INC. Flr. No. 6/f, 7/f, Tower 3 West Bldg., Double Dragon Plaza, Edsa Ext. Cor. Macapagal Ave. St., Barangay 76, Pasay City

210.

RITTNER, TIM Customer Support Advisor - German Agent Brief Job Description: Provides customer support for German clients

224.

HUANG, HONGZHANG Chinese Speaking Business Development Associate 211.

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

OOI ENG SEANG Chinese Speaking Business Development Associate 212.

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

LI, JIAWEN Chinese Speaking Graphic Designer 213.

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

214.

Brief Job Description: Customer support and data base services

LU, YUANQIANG Chinese Customer Service 215.

216.

217.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

YE, MENGDA Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, XIAOWEI Chinese Customer Service Brief Job Description: Customer support and data base services.

ZHOU, JIEREN Chinese Customer Service 218.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

226.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

227.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledge in computer applications with good oral and written communications skills

228.

229.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

LIU NAM SAU Vietnamese Customer Service Brief Job Description: Customer support and data base services

LIU NGOC VAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

LONG CHI HIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

NGAN CUN CHANH Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN THI MINH KHUYEN Vietnamese Customer Service 230.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills NGUYEN THI PHUONG Vietnamese Customer Service

231.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

HSIEH, NI-NI Mandarin Speaking Hr Manager 232.

Brief Job Description: Overseas the implementation of human resource programs through human resource staff opportunities for improvement and resolves problems.

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

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

SHEN, YAJUAN Mandarin Finance Supervisor 233.

Brief Job Description: Oversee and analysis financial reports in relation to current budget and prior year information department employees, including financial assistants and accountants.

Basic Qualification: Knowledge in computer applications with good oral and written communications skills

Basic Qualification: Knowledge in computer applications with good oral and written communications skills Salary Range: Php 30,000 - Php 59,999

234.

Brief Job Description: Identify and analyze the areas of potential risk threatening the company

237.

Basic Qualification: Knowledge in computer applications with good oral and written communications skills Salary Range: Php 30,000 - Php 59,999

238.

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

BILLY LAWIN Indonesian - Language Customer Support Staff 239.

240.

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledge in computer applications with good oral and written communications skills

241.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

242.

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

Basic Qualification: Bachelor degree in management in finance, mandarin speaking.

243.

244.

245.

235.

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

TAN, GUIMING Marketing Specialist 236.

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

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

Basic Qualification: Bachelor’s Degree in Business Management, Excellent Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management; Excellent Communication Skills Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of the Indonesian language (spoken and written).

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

SERVIER PHILIPPINES, INC. Unit Ad, 11/f 8 Rockwell, Hidalgo Drive, Rockwell Center, Poblacion, City Of Makati PASDELOUP, AMBRE Commercial Excellence Manager 246.

Brief Job Description: The Commercial Excellence Manager will set-up the Commercial Excellence/Sales Force Effectiveness function, develop strategies together with Sales and Marketing Director to increase efficiency and capability of the Sales Force Team.

Basic Qualification: BS (Life Science) and post graduate degrees; 3 years experience as Sales Force Effectiveness, Manager or Commercial Excellence Manager; Fluent in English and French language.

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

SHANG SOFTWARE SOLUTIONS, INC. 11/f Pbcom Tower, Ayala Avenue, Salcedo Village, Bel-air, City Of Makati CARLA DANA Bahasa Indonesian Language - Trade Specialist 247.

Brief Job Description: Ensure that all prices, changes and delivery of events are timely and accurate ENJERA WIJAYA Bahasa Indonesian Language - Trade Specialist

248.

Brief Job Description: Ensure that all prices, changes and delivery of events are timely and accurate IMANUEL MARCELLINO MUNTU Bahasa Indonesian Language - Trade Specialist

249.

Brief Job Description: Ensure that all prices, changes and delivery of events are timely and accurate VIRGINIA JULIA PRATIWI LEWU Bahasa Indonesian Language - Trade Specialist

250.

Brief Job Description: Ensure that all prices, changes and delivery of events are timely and accurate

Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999

SINOMA CBMIPH CONSTRUCTION CORPORATION 37b Rufino Pacific Tower, Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

Basic Qualification: Excellent Communication Skills in Both Written Spoken

Basic Qualification: Bachelor’s Degree in Business Management, Excellent Communication Skills

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

MEIRIATI Indonesian - Language Customer Support Staff

LU, QINGSHUAI Mandarin Human Resources Officer 251.

RESCORE BUSINESS CONSULTANCY INC. 255 A&a Bldg., Unit B Rome St. Cor Vatican,, Merville, City Of Parañaque

LAI, ZHENNI Marketing Specialist

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

LEONARDO ADYAJAYA Indonesian - Language Customer Support Staff

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

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

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

HENDRICK KOSASI Indonesian - Language Customer Support Staff

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

Basic Qualification: Good oral and written communication skills in Mandarin.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

HENDRA SUSANTO Indonesian - Language Customer Support Staff

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

ERIC Indonesian - Language Customer Support Staff

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

DAVIN LOIS Indonesian - Language Customer Support Staff

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

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

QUALIFICATION AND SALARY RANGE

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Basic Qualification: Knowledge in computer applications with good oral and written communications skills Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Report directly to the manager and fulfilling the manager’s duties in their absences; should also be wellversed in internal operations, take minutes at meetings, forward and distribute mail as required and prepare and file relevant documents LAI, CHANGLIN Sales Consultant

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LYU, XUE Operation Assistant

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

RAINBOW PROMISE SOLUTIONS INC. Unit A 14/f B.a Lepanto Bldg., 8749 Paseo De Roxas, Bel-air, City Of Makati CHAO, SHOU-WEN Risk Senior Specialist (multilingual)

No.

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

PH GLOBAL JET EXPRESS INC. 11th Floor, The Marajo Tower, 26th Street Cor. 4th Avenue Bgc, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

QUALIFICATION AND SALARY RANGE

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

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

Brief Job Description: Customer support and data base services

MAI THI CUC Vietnamese Customer Service

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

Basic Qualification: Knowledge in computer applications with good oral and written communications skills

DU MAN HA Vietnamese Customer Service

LY THUY LIEN Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

Brief Job Description: Customer support and data base services

LUAN THI HOA Vietnamese Customer Service

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

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

LIU, YONGGEN Chinese Customer Service

225.

Basic Qualification: German language speaking and writing

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

YI LAN Myanmari Customer Service

HO QUANG THIEN Vietnamese Customer Service

MSCI HONG KONG LIMITED U-1,2,3,4,7 & 8 29/f Zuellig Bldg., Makati Ave. Cor. Paseo De Roxas, Urdaneta, City Of Makati

KIM, JINKYU Client Coverage Analytics Analyst – Korean Language Specialist

Brief Job Description: Customer support and data base services.

Basic Qualification: Able to speak, read, and write chinese language.

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SAI ZAW MYINT Myanmari Customer Service

www.businessmirror.com.ph

Brief Job Description: The mandarin human resources officer 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.

Basic Qualification: Proven experience as mandarin human resources officer, excellent communication, interpersonal and presentation skills.

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

TECHMAVE SERVICES INC. 11/f Liberty Plaza Bldg., 102 H.v. Dela Costa St., Bel-air, City Of Makati CHEOW PIK YOONG Mandarin Speaking Customer Relation Representative 252.

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

FENDY FERNANDY Mandarin Speaking Customer Relation Representative

253.

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

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LUONG BOI TRINH Mandarin Speaking Customer Relation Representative

254.

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

NYEIN SU THITA Mandarin Speaking Customer Relation Representative

255.

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

VONG LAY HONG Mandarin Speaking Customer Relation Representative

256.

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

LIU, JIANING Mandarin System And Support Specialist

257.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients / customers through mandarin to English translation LU, YONG Mandarin System And Support Specialist

258.

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

QI, DENGHUA Mandarin System And Support Specialist

259.

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

XIA, DONGDONG Mandarin System And Support Specialist

260.

ESTABLISHMENT / ADDRESS

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

261.

Brief Job Description: Provides Expedient and Accurate Customer Service to Korean Speaking Clients and Customers

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

262.

Brief Job Description: Responsible for both strategic and tactical initiatives related to revenue maximization and will have the opportunity to set strategic direction, determine pricing, create promotions, and explore new distribution opportunities.

263.

Brief Job Description: Supervise Maintenance Activities Observation of equipment’s : Manage Planning for Maintenance Prepare Checklist for equipment reliability

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

264.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English Translation

273.

274.

275.

276.

265.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information VAN MY PHUONG Bilingual Customer Service Officer

266.

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

277.

267.

Brief Job Description: Report on a daily basis operation of call center activities performing customer oriented telephone activities & various background operations duties.

278.

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

268.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation CAI, YANHONG Customer Relation Representative (mandarin Translation)

269.

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

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

LE THI HOAI THU Customer Relation Representative (mandarin Translation)

279.

Basic Qualification: Bachelor of Engineering Electronic Instrumentation and Control

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation LI, QIHANG Customer Relation Representative (mandarin Translation)

Salary Range: Php 60,000 - Php 89,999 280.

Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation LI, ZHIHUI Customer Relation Representative (mandarin Translation)

281.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation NG YOON HONG Customer Relation Representative (mandarin Translation)

282.

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

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

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

NUR RASYIDAH CHANG BT MOHD SALAHUDDIN Customer Relation Representative (mandarin Translation)

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

Basic Qualification: Proficient in writing, reading and speaking in both English/Bahasa/Thai/ Chinese/Vietnamese/ Malay.

283.

284.

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

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation TEO HONG LEONG Customer Relation Representative (mandarin Translation)

286.

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

Basic Qualification: Through extensive and fluency in mandarin language and characters.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation TAN HANG XIU Customer Relation Representative (mandarin Translation)

285.

Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

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

PHONG CUN LIN Customer Relation Representative (mandarin Translation)

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 BUI ANH TIEN Customer Relation Representative (mandarin Translation)

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation KUAN TIANG TIANG Customer Relation Representative (mandarin Translation)

TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg., 2153 Don Chino Roces Ave., Pio Del Pilar, City Of Makati

HENDRY Bahasa Language Customer Service Representative

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation JOEANN LEE CHU ER Customer Relation Representative (mandarin Translation)

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

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

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation JIU LI Customer Relation Representative (mandarin Translation)

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati TRUONG NGOC MY LINH Bilingual Customer Service Officer

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation JAMES LIONG TA CHUEN Customer Relation Representative (mandarin Translation)

Basic Qualification: Skilled in Korean Language

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

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation HSIEH, YI-CHUAN a.k.a. HSIEH, YUAN-YUAN Customer Relation Representative (mandarin Translation)

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

Basic Qualification: 5yrs hands-on Hotel Revenue Mgt experience; strong command of both written and spoken English; Bachelors or Masters Degree in Hotel Management, Tourism or Economic Studies

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation HENDRA Customer Relation Representative (mandarin Translation)

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

TOP ACCESS INFINITY INC. 27th Floor The Curve Building, 32nd Street Bgc, Fort Bonifacio, City Of Taguig XIONG, YING Mandarin Speaking Sales & Trading Consultant

272.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

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

DAU NGUYEN BANG HUE Customer Relation Representative (mandarin Translation)

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

THERMAX INSTRUMENTATION LIMITED Unit 3, 9/f Galleria Corporate Center, Edsa, Ugong Norte, Quezon City SINGH, JABBAR Instrumentation Inspection And Assessment Manager

271.

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

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

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation CYNTHIA Customer Relation Representative (mandarin Translation)

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

THE SELAH GARDEN HOTEL, INC. House No. 2715 Park Ave., San Rafael St., Barangay 74, Pasay City

RAYMOND ANDREW VERGHESE Revenue Manager

270.

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHAN, YUAN-CHI Customer Relation Representative (mandarin Translation)

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

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig LEE, YONG JUN Korean Operations Csr Ii

No.

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

TEOH XIN YEE Customer Relation Representative (mandarin Translation)

287.

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

Tuesday, July 5, 2022

A13

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

No.

288.

289.

290.

291.

292.

293.

294.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

295.

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

296.

Basic Qualification: Through extensive and fluency in mandarin language and characters.

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

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

Basic Qualification: Through extensive and fluency in mandarin language and characters.

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

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

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

Basic Qualification: Foreign Languages Speaking

Brief Job Description: Prepares Product Or Service Reports By Collecting And Analyzing Customer Information

297.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Languages Speaking

Brief Job Description: Work With Customers/Employees To Identify Computer Problems And Advices Them On The Solution CHEN, GUAN-WUN Mandarin-speaking Customer Service Officer

298.

HUANG, SHOU-MIN Mandarin-speaking Customer Service Officer 299.

Brief Job Description: Work With Customers/Employees To Identify Computer Problems And Advices Them On The Solution

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Languages Speaking

Brief Job Description: Work With Customers/Employees To Identify Computer Problems And Advices Them On The Solution YEH, CHUN-YU Mandarin-speaking Customer Service Officer

301.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Languages Speaking

YANG, CHIN Mandarin-speaking Customer Service Officer 300.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Languages Speaking

Brief Job Description: Work With Customers/Employees To Identify Computer Problems And Advices Them On The Solution

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

Basic Qualification: Foreign Languages Speaking

Brief Job Description: Work With Customers/Employees To Identify Computer Problems And Advices Them On The Solution

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

ZX-PRO TECHNOLOGY CORPORATION 16/f Robinsons Cybergate 3, Pioneer, Barangka Ilaya, City Of Mandaluyong

TANG JIUN MING Chinese Speaking Business Development Associate 302.

Brief Job Description: Assist/Help Customers, Give Customers Information About Product And Services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

CHEN, CHUN-LIN Mandarin-speaking Customer Service Officer

Basic Qualification: Through extensive and fluency in mandarin language and characters.

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

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

CHNG CHEE LUN Malay- Speaking Customer Service Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

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

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

SOO LOKE QUAN Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through extensive and fluency in mandarin language and characters.

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

PHAN THU HANH Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

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

NGUYEN KHANH LINH Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

HUANG, HSUAN-TING Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

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

FENDI Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

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

TU GIA CAM Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

Basic Qualification: Through, extensive and fluency in mandarin language and characters agreement

TRAN QUY NGA Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters

QUALIFICATION AND SALARY RANGE

THAI HUE QUYEN Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Through extensive and fluency in mandarin language and characters.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, ZIYU Chinese Speaking Business Development Associate 303.

Brief Job Description: Assist/Help Customers, Give Customers Information About Product And Services

Basic Qualification: With Atleast 6 Months Customer Service Experience/Good In Oral Communication And Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With Atleast 6 Months Customer Service Experience/Good In Oral Communication And Written Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jul 4, 2022

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.

Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters Salary Range: Php 30,000 - Php 59,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A14 Tuesday, July 5, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

How government can take care of the poor

T

he country’s surging inflation, which climbed to 5.4 percent in May, fueled by soaring food and transport costs, left millions of minimum-wage earners mercilessly exposed to the cost of living crunch. As wages simply are not moving to keep up with rapid and unrestrained price increases, even middle-income families are on the verge of being pushed into poverty because we have zero social safety net for them.

Faced with the current volatility of food prices, millions of Filipinos who are struggling with low incomes are pinning their hopes on the Marcos administration. As they helplessly watch their purchasing power evaporate, they will gladly accept whatever the government can do right now to lessen the burden of making ends meet.

Hundreds of thousands of Metro Manila commuters were excited to receive the news that President Ferdinand “Bongbong” Marcos Jr. approved the extension of the free Edsa Carousel bus rides until December. With his action, the President fulfilled a campaign promise to make the free rides at the Edsa Carousel bus route permanent once he and his running mate, Mayor Inday Sara Duterte, are elected in the May 9 national elections. The Edsa Carousel services up to 182,000 passengers a day.

After meeting with officials headed by Department of Transportation (DOTr) Secretary Jaime Bautista and Executive Secretary Vic Rodriguez, the President also approved free rides for students who will be using the MRT-3, LRT-2, and Philippine National Railways when in-person classes resume in August. The Department of Education expects more than 38,000 schools to resume face-to-face classes for the coming school year.

There are other low-hanging fruits that the government can pick for ordinary workers that are disproportionately being hurt by ravaging inflation. A myriad of voices on social media, for example, are appealing to President Marcos to also give them free MRT-3 rides, saying a free ride will help them buy more food for their families. More than 370,000 commuters ride the MRT-3 every day. Some 28.62 million passengers benefited when President Duterte ordered free MRT-3 ride from March 28 to June 30. The DOTr, however, recommended the discontinuation of the program because “current MRT-3 fares are already heavily subsidized.”

We know that the new administration has inherited a country deeply in debt and still recovering from the devastation of the Covid-19 pandemic.

Current Philippine debt is P12.68 trillion, equivalent to 63.5 percent of the country’s GDP. The government obviously needs to generate more income to pay down its debt.

Here’s our take: We agree with economic experts who believe that micro, small and medium enterprises (MSMEs) may hold the key to the Philippines’s economic recovery because they form the backbone of the economy. MSMEs comprise around 99 percent of businesses in the country. Metro Manila remains as the hub of business and industry with 201,080 establishments comprising 18.6 percent of the total number of establishments in 2021. These establishments generated more than one-third or 33.6 percent of the country’s total employment. These Metro Manila workers are the ones using the Edsa Carousel and the MRT-3, among other public transport systems. If government can’t immediately increase their wages, it would do well for the Marcos administration to provide other forms of relief, like free rides on all government-operated public transport systems.

With the government’s current fiscal situation, giving cash subsidies to minimum-wage earners is perhaps out of the question. But as we suggested earlier, there are low-hanging fruits that government can pluck, which can benefit hundreds of thousands of ordinary workers currently feeling the squeeze as inflation intensifies the poverty problem. As a wise man once said, caring for the poor and needy people and helping them is a noble endeavor.

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olitical stability is key to economic growth, and we as a nation have achieved this in the past 20 years despite a myriad of challenges and natural disasters.

The democratic process is working in the Philippines and has led to vibrant discussions on political and economic reforms. The smooth transition of power last week is an example of how we as a democratic country matured, notwithstanding our political differences.

My congratulations to former President Rodrigo Duterte for a job well done and to newly sworn-in President Ferdinand “Bongbong” Marcos Jr. for winning a six-year mandate to govern our country of over 110 million people.

President Duterte turned over a stable nation and a steady economy that is ready to move higher, thanks to strong macroeconomic fundamentals and unprecedented infrastructure projects that are at par with the best in the region.

Soon, we will have a subway in Metro Manila and a modern rail system from Clark to Bicol region.

Even at their construction phases, these projects have already generated excitement and livelihood opportunities for thousands of people living along their routes and future passenger stations.

These are on top of the numerous roads and bridges built across the country and the public-private partnership ventures, such as the Skyway Stage 3, Nlex-Slex Connector Road, Metro Rail Transit Line 7 and the expansion of the TarlacPangasinan-La Union Expressway.

These projects became possible because of the strong political will and resolute vision of President Duterte, who wanted to get things done for our nation. Amid the challenges posed by the pandemic, the government pushed through with these infrastructure projects, knowing that they would be vital to our economic recovery and job generation. Hence, we emerged stronger

The ‘bullwhip effect’ John Mangun

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New beginning, new aspirations

F

rom the dictionary: “A free market is a system in which the prices for goods and services are self-regulated by buyers and sellers negotiating in an open market without market coercions.”

Also from the dictionary: “Santa Claus is a character in Western Christian culture who is said to bring children gifts on Christmas Eve.” Note that both the “free market” and “Santa Claus” are myths. Neither truly exists.

A child thinks that there is a Santa Claus because he or she may find presents on Christmas day. A consumer or producer might believe that there is a free market for goods and services because—as with the Christmas presents—they never see the unseen hand moving prices.

We are told that ultimately it is demand and supply that moves prices, and that is true. However, just because a cartel or government

does not put up a public notice as to where prices are going does not mean that they are not the unseen hand, government especially.

The most economically ignorant fools (“fools” because they are used and manipulated) are “socialists” of any type. They believe that some sort of collective ownership will solve the problems of wealth and income disparity. They believe that the pizza can be cut into eight equal slices and that everyone will get one piece.

There is a rule that firefighters have where they take turns cooking their own meals. The person that plates the food gets the last plate after everyone else. That way, the

from the two-year pandemic, although we need to remain cautious in case of another virus surge.

Some 1.5 million jobs, per data from the Philippine Statistics Authority, have been added to the labor force in the past two years since the unemployment rate peaked at 17.6 percent at the start of Covid-19 in 2020. The Department of Public Works and Highways reported that 6.5 million jobs were generated under the “Build, Build, Build” program.

I am pleased to hear that the Marcos administration will continue the infrastructure buildup with its “Build Better More” campaign that will include digital infrastructure.

The Duterte administration left a strong regulatory environment that will sustain our economic expansion in the years to come. These include tax, education and economic reforms that aim to raise more revenues for government services, provide free tuition to millions of students and encourage more investments that will generate jobs for our young workforce.

This means the Duterte administration has wisely invested in our future, and it is evident in the investment-grade ratings bestowed on the Philippines by major credit rating agencies.

President Marcos indeed inherits a stronger, larger and more prosperous nation than any moment in our history. We are now the world’s 13th most populated nation and the 32nd

biggest economy with a nominal GDP of nearly $400 billion. At the rate we are growing, the Philippines will be among the 25 biggest economies in the next three decades.

I am confident that President Marcos will sustain the solid growth achieved under the Duterte administration. This can be gleaned from his excellent choice of Cabinet secretaries, many of whom are topnotch economists and managers.

President Marcos, himself, decided to lead the Department of Agriculture to underscore the importance of the sector in national development. The farm and fisheries sector has failed to catch up with the growth of industry and services sectors over the past decades, with its contribution to the gross national income shrinking from 30 percent to less than 10 percent today.

Agriculture, however, continues to employ about a third of Filipinos and plays a crucial role in fighting inflation and strengthening food security. With President Marcos taking the helm of the DA, I hope that we will see a revival of the rural economy that will lead to stable food prices and poverty reduction.

The immediate priorities of the Marcos administration are addressing the rising inflation, boosting food production and sustaining economic growth. The appointment of Bangko Sentral ng Pilipinas Governor and See “Villar,” A15

person who plates the food makes sure the servings are equal.

That is genuine “socialism,” but which does not exist in national economies. Operative socialism is governments—just like drug cartels and corporations under fascism—picking winners and losers for both companies and industries.

September 6, 2019, Joe Biden: “I guarantee you we’re going to end fossil fuels.”

When Biden said that, Brent oil was $61.50. Ten days later on September 16, oil was priced $71.95.

The price subsequently fell to the $30 range seven months later but that was genuine market forces in the early days of Covid lockdowns.

How bad can government policies become? The International Renewable Energy Agency tracked some $634 billion in energy-sector subsidies in 2020 and found that around 70 percent were fossil fuel subsidies.

About 20 percent went to legitimate renewable power generation.

The genuine free market is not perfect as it responds to supply/demand changes. We are seeing that now with the “bullwhip effect.” That is when increased demand causes over-production as prices move

higher, which then causes prices to decrease rapidly.

But even then, the biggest loser from the “bullwhip” is government when it tries to manipulate the “sortof-free market.” There is a good chance that the US may experience a rapid “deflation” in prices as consumers are being killed with high oil prices, the economy is slowly faster than expected, and recent and future interest rate increases will stop consumer credit.

US retail inventories have been growing at the fastest pace in history (up 16 percent in April from last year) as producers are reducing prices to move merchandise and retailers are seeing lower sales. The “Big Short” investor Michael Burry said that the “bullwhip effect” happening in the retail sector will lead to the Federal Reserve reversing rate increases.

It is not optimism. T.G.Y.F. is reality. The storm of the next six to 12 months will substantially pass by the Philippines with some but very manageable damage.

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

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Tuesday, July 5, 2022 A15

Period to collect deficiency Passenger jeepney: King of the road no more tax assessments Manny F. Dooc

TELLTALES

Fulvio D. Dawilan

Tax Law for Business

W

E had previously written in this column about the efforts of the tax bureau in enforcing the collection of taxes. We had also discussed some of the limitations on the part of the tax authority as well as the remedies that the taxpayers may invoke when the enforcement action is not properly done.

This time, let’s talk about the limitation on the period allowed to the Bureau of Internal Revenue to enforce collection of taxes. The observance of this period is important to both the taxpayer and the BIR, as its non-observance may result in the lost of authority on the part of the BIR to collect. Also, the enforcement beyond the allowed period provides the taxpayer an opportunity to be freed from its obligation even if a deficiency tax is properly assessed.

I consider these three factors in determining whether or not a collection effort is properly pursued: (1) the applicable prescriptive period, (2) the reckoning of the prescriptive period and (3) the actions undertaken by the BIR for a collection to be considered initiated.

Insofar as the number of years allowed for the collection of taxes is concerned, our National Internal Revenue Code mentions two important periods associated to the collection of taxes—the three-year period and the five-year period.

Which one is applicable?

Even the Tax Court had been of the view that the five-year prescriptive period applies for the collection of tax assessments. Accordingly, when an assessment is issued, the BIR has a period of five years to initiate the collection. In a number of cases, however, the Supreme Court declared that the BIR has a period of three years within which to collect the taxes assessed.

This was further clarified in the recent decision of the Supreme Court in GR 258947, March 29, 2022. In this case, the Court noted that when an assessment is issued within the 3-year ordinary prescriptive period to assess, the BIR has another 3 years to initiate the collection of taxes. The 5-year period for collection of taxes only applies to assessments issued within the extraordinary period of 10 years in cases of false or fraudulent return or failure to file a return.

Clearly, from this declaration, the BIR has only a period of three years within which to initiate the collection of tax assessments. This applies in case the assessment is not anchored on fraud or on failure to file tax return on the part of the taxpayer. Any collection efforts made beyond the said period should be considered barred and the taxpayer may invoke prescription. On the other hand, if there is a finding of fraud or failure to file tax return, and an assessment is made, the BIR has a period of 5 years to enforce collection.

Whether the 3-year or 5-year prescriptive period applies or not, the other important information is when to start the counting of the three 3-year or 5-year period.

This is not clear in the Tax Code.

Jurisprudence, however, clarified that the period should begin to run from the date the assessment notice is released, mailed or sent to the taxpayer. This means that in determining whether the 3-year or 5-year period has lapsed or not, the same should be counted from the issuance of the assessment notice, which is normally understood as the issuance of the formal assessment notice, final assessment notice or formal letter of demand.

Now, what action is required from the BIR for it to be consid-

To summarize, a tax due, made through a valid assessment, may also be validly collected, if the collection effort (initiation of distraint, levy, or court proceeding) is done within three years (five years if there is a finding of fraud or failure to file tax return) from the date of issuance of the assessment notice (formal assessment notice, final assessment notice or formal letter of demand). If there is lapse in these periods, the taxpayer may rightfully invoke prescription. ered to have initiated collection efforts? The Tax Code mentions two remedies for the collection of delinquent taxes —the distraint of personal properties or levy upon real property and initiation of civil or criminal action. Either of these remedies or both simultaneously may be pursued by the tax authorities. These remedies are further explained in Court decisions as summarized in GR 258947. The distraint and levy proceedings are validly begun or commenced by the issuance of a warrant or distraint and levy and service to the taxpayer. On the other hand, a judicial action for the collection of a tax is initiated: (a) by the filing of a complaint with the court or (b) where the assessment is appealed to the Tax Court, by filing an answer to the taxpayer’s petition for review wherein payment of the tax is prayed for. Any of these actions chosen by the tax authorities should be done within the 3-year or 5-year period. Otherwise, the right of the BIR to collect taxes shall be considered time-barred.

Note that when an assessment is elevated by the taxpayer to the Tax Court, it is not the BIR that is initiating the court proceeding.

Enforcement action for the collection of assessed taxes will not be considered to have been initiated by the tax authorities. However, an answer to the petition with the prayer for the payment of tax shall be deemed to be an initiation of a collection action. The filing of answer should, therefore, also be made within the 3-year or 5-year period. Otherwise, the taxpayer may invoke the lapse of the BIR’s right to collect.

To summarize, a tax due, made through a valid assessment, may also be validly collected, if the collection effort (initiation of distraint, levy, or court proceeding) is done within three years (five years if there is a finding of fraud or failure to file tax return) from the date of issuance of the assessment notice (formal assessment notice, final assessment notice or formal letter of demand).

If there is lapse in these periods, the taxpayer may rightfully invoke prescription.

The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.

O

nce, they were immortalized in the popular ditty, “Manila, Manila.” And who could forget the iconic lines composed by the legendary Hotdog band, “Mga jeepney mong nagliliparan, mga babae mong naggagandahan…,” sang by both the “masa” and the elite; the young and the old. It’s the most beloved song, which makes every Filipino abroad feel homesick every time he or she hears it on the airwaves. Passenger jeepneys are the cheapest form of public transportation available to ordinary commuters. It’s only recently that the transport authorities have increased their minimum fare

by P1 due to the dramatic surge of the price of diesel. Still, jeepneys remain the most affordable means of public transport compared to buses, taxis, MRT/LRT, or even tricycles. But it seems that the jeepneys’ popularity and dominance among our public commuters are under serious threat.

Recent report shows that more than 5,000 public utility vehicles (passenger jeepneys) did not renew their franchise. The high cost of fuel, particularly diesel that runs the jeepneys, has driven jeepney operators out of business. Add to this the maintenance expense of their units, which compounded their woes. It cannot be denied that the surging fuel cost is the main culprit. Earlier, travel restrictions imposed during the pandemic had initially caused severe loss of income to the jeepney drivers. During the prolonged lockdown that kept people away from schools and offices, jeepney drivers got whatever job was available for as long as it could bring food on the table.

However, work opportunities are scarce and most of them could not find any odd jobs. Many businesses were shuttered and even small and medium enterprises, which could hire extra hands like the displaced drivers, closed shop. Many jeepney drivers were forced to beg for help from people on the streets. They became fixtures in every community

food pantry and charity programs that mushroomed during the height of the pandemic. But now, food aids are drying up as donor fatigue has set in. They could not pay their rent, settle utility bills and meet other obligations. Even if they continue to drive their jeepneys, the cost of fuel eats a big chunk of their income and they could hardly meet their boundary fee. And for the longest time during higher Covid-19 alert levels, they could only take a limited number of passengers. Now that we are virtually back to normal, they are lucky if they net a take-home income of P200 a day—just barely enough to buy food for a family of five. Study shows that on the average, jeepney drivers spend P540 on diesel per day. Their daily gross income is P1,200. After deducting the boundary fee of P500, the net take home earning is P160. A jeepney driver works an average of 10 to 12 hours a day to cover their expenses and boundary fee, and earn extra for his own needs. No wonder, some families used the jeepneys as their dwelling for the night since

they cannot afford to rent even a cramped space. Their pleas for government assistance have fallen on deaf ears. No one from the government seems to support the idea of suspending, if not removing, the excise tax on fuel to lower its cost even temporarily. The promised financial assistance to drivers is delayed and, if given, is hardly sufficient.

It’s not just the pandemic and its impact on the livelihood of jeepney drivers and operators that set back the jeepney industry. The so-called route rationalization being practiced by the LTFRB, which gives priority and profitable routes to high-capacity buses over smaller jeepneys that can only carry fewer passengers, contributes to the problems of the jeepney drivers and operators. It seems that jeepneys are discriminated against in favor of the buses and the modern jeepneys. Under the modernization program, new jeeps will run on modified routes that give them faster, more accessible and predictable travel time. This definitely places the old jeepneys at a disadvantage.

The Public Utility Vehicle Modernization Program was launched in 2017 by the Department of Transportation. Its goal is to make our public transportation system efficient and environmentally friendly. The longterm target of transport modernization is to eventually phase out and replace all PUVs that are 15 years old or older. A very desirable goal if only the ordinary jeepney or operators can afford the high cost of modernization. Its model unit cost is about P1.6 million-P1.8 million, which is beyond the reach of most drivers and operators. Despite the package of loan facilities and financial assistance extended by the government, the intended beneficiaries still find it unaffordable. On the other hand, there is a real threat that the old jeepney drivers and operators will be out of business if they don’t participate.

While the passenger jeepneys

remain the most accessible and cheapest means of public transportation, time and circumstance have rendered them anachronistic. Given the growing demand for a clean environment and the increasing concern for climate change, the old jeepneys are on the wrong side of the controversy. Jeepneys are major polluters of our environment. They emit dark smoke, which is hazardous to health. Their crowded seating makes the cramped passengers highly vulnerable to infection and contamination. The big number of jeepneys plying the roads worsens traffic and causes street accidents. If modern jeepneys that sit comfortably more passengers and other modes of public transport can be made more accessible and affordable, it will not be remote that public commuters would prefer them over the “flying” jeepneys.

Will the jeepneys follow the way of the once mighty horse-drawn “calesa” that ruled our streets before and after the war? Now you could hardly find a “calesa” except in Intramuros to cater to tourists who want a slow ride to enjoy the sights inside the Walled City. If and when that happens, the Hotdog fans may continue to belt out the song and pine for the “flying” old jeepney, but they may find it difficult to get the old, reliable jeepney plying the streets for a ride. And that will be sad because a jeepney is inherently Filipino. It’s a testament of Pinoys’ creativity. Very colorful, convenient and accessible in every street corner. It has become a cultural symbol of our country. Many international fairs have featured a jeepney as their main exhibit. It also represents the resilience, hard work and industry of OFWs. It’s not uncommon to see painted on the jeepney the proud words: “Katas ng Saudi.” Soon, the jeepneys will no longer be the investment of choice of our OFWs. Their number will dwindle until they completely disappear from our roads, which they once dominated and ruled.

ECB’s high-wire act to deliver rate liftoff enters final stretch

By Craig Stirling | Bloomberg Opinion

action last month with its biggest hike since 1994.

The ECB has sought to prepare markets for this moment, having announced already in June details on planned rate increases in July and September—with more to follow after that.

Lagarde reiterated to the annual gathering in the Portuguese resort of Sintra last week that the intention is to start with a quarter-point on July 21. Pierre Wunsch, the hawkish head of Belgium’s central bank, described such a move as a “done deal.”

But colleagues from the Baltic states have suggested a bigger hike, if the inflation backdrop deteriorates.

If data point to “the persistence of inflation, to its acceleration, 50 basis points should be a policy option for July,” Lithuania’s Gediminas Simkus told Bloomberg last week.

Whether that materialized in Friday’s reading of 8.6 percent—a fresh above-consensus record—is likely to be a matter of debate. The median economist estimate has been surpassed in every month but one in the past year.

At the same time, a gauge of underlying inflation, excluding energy and food, inched down to 3.7 percent in June. Investors also are growing

increasingly concerned that a slowdown in the economy could prompt policy makers to take a more hesitant approach on rate hikes.

German two-year yields—which are the most sensitive to changes in interest rates—halved on Friday from a peak of 1 percent set earlier last week and while money markets are clinging on to wagers for 75 basis points of hikes by September, they have slashed bets on how much further tightening is necessary. Traders are now betting the deposit rate will rise to 1.5 percent by the end of next year, a one-point drop compared to two weeks ago.

“We expect a 25-bp hike in July, followed by a 50-bp move in September and 25-bp increases in October and December. The fear of persistent inflation has trumped worries of recession—hawks on the Governing Council are winning the debate,” said David Powell, Bloomberg senior economist. The discussion on rates would be hard enough without inventing a persuasive crisis-fighting tool in tandem, which policy makers pledged after an emergency meeting on June 15.

The exact design isn’t clear, though the legal imperative of avoiding monetary financing is an overarching constraint. Staffs are drumming up proposals to present to the Governing Council.

Policy makers in Sintra emphasized two key elements. The first is that it should be so convincing that the ECB won’t need to use it—remi-

niscent of the OMT tool heralded by former President Mario Draghi a decade ago this month.

Wunsch repeated the label of a “backstop instrument” in an interview last week, saying that “it’s hard to think about unwarranted fragmentation that would justify us being present in the markets on a permanent basis.”

Secondly, the tool should ensure the ECB isn’t adding liquidity that would counteract efforts to tighten monetary policy. There are different ways of achieving this, though officials have used the term “sterilization” to describe that requirement.

To keep financial markets at bay until the measure is unveiled, the ECB is flexibly reinvesting maturing bonds in its pandemic purchase program. That measure went live on Friday, though it’s not clear whether any purchases have ensued.

In the meantime, with this being the final full week before a pre-decision blackout period, appearances by officials may draw interest, including Lagarde herself on Friday. The minutes of the ECB’s June meeting are published a day earlier.

Whatever they say, though, the ECB is as determined as it could be to finally begin rate increases, with only something as major as a geopolitical shock able to derail that.

“If we are still in an environment without a deep recession and year-onyear growth being positive, I think the first 200 basis points are a nobrainer,” Wunsch said.

portive of growth.

In terms of food security, the government will have to find the delicate balance of amplifying local production and importing commodities that are in short supply in the market. We are a net importer of rice, wheat, meat and dairy products—and it would take years of farm revitalization to achieve self-sufficiency in these

products. Hopefully, we can achieve it as soon as possible to mitigate our exposure to global supply risks.

The smooth transition of leadership from the Duterte to Marcos administrations and assurance of policy continuity will drive the Philippine economy to grow faster and achieve our 2022 economic growth target of 7 percent to 8 percent.

The solid economic legacy left by President Duterte and the strong trust of the people and the business community in President Marcos give the Philippines another fresh start to realize its dreams and aspirations.

T

he European Central Bank’s bid to engineer its first interestrate hike since 2011 without causing the euro to splinter is about to take on new momentum.

Now officials have seen June’s record inflation reading, judged to be pivotal for their next monetary move, they’ll convene Wednesday for the final scheduled opportunity to prepare for their two-day meeting starting July 20.

With all the major euro-zone data out in the open, and key gatherings including an annual retreat out of the way, policy makers can focus on haggling over the size of rate hikes and the design of an anti-crisis measure.

The question of 25 or 50 basis points—already controversial— would have been the main issue by now were it not for an outbreak of Italian debt turmoil that forced ECB President Christine Lagarde to hold emergency talks and extract a pledge for a new tool.

A whole tightening cycle that officials have dreamed of for years and talked about for weeks rests on their ability to act without giving investors cause to doubt the ability of weaker euro members to take a hit to borrowing costs, endangering the single currency.

Raising rates would allow the ECB to play catch-up at a time when much of the world is already far advanced. That includes the US Federal Reserve, which markedly accelerated

Villar. . .

Continued from A14

former Budget Secretary Benjamin Diokno as Finance secretary and leader of the economic team is a wise decision. Secretary Diokno is well experienced in managing public funds and keeping domestic liquidity sup-

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

A16 Tuesday, July 5, 2022

SC VOIDS ERC’S 2013 ORDER REGULATING WESM PRICES

By Joel R. San Juan @jrsanjuan1573

T

O ensure a competitive market env ironment among power generation companies (gencos) and safeguard the interest of consumers, the Supreme Court has declared null and void the order issued by the Energy Regulatory Commission (ERC) that regulated the prices in the Wholesale Electricity Spot Market (WESM) for the supply months of November and December 2013.

In a 32-page en banc decision, the Court noted that ERC issued the order even if it had yet to complete its findings on the possible abuse of market power which could have negatively impacted on the prices of electricity in the market.

The ERC was investigating the alleged collusion among gencos to manipulate prices of electricity in the spot market during the shutdown of the Malampaya gas facility in 2013.

It said the March 3, 2014 order was primarily intended to address the abnormal spike and unreasonable prices of electricity imposed by gencos during the said period.

“The March 3, 2014 order acknowledged that it was based on an unfinished investigation, and yet it included a fallo (decision) voiding the Luzon WESM prices and imposing regulated prices instead,” the SC said.

The Court noted that the ERC also did not notify the affected parties about its investigation, in violation of their right to due process.

It noted that most of the parties

manifested before the Court that they filed petitions to intervene in the ERC, and motions for reconsideration of the March 3, 2014 order.

“Thus, the March 3, 2014 ERC order is nullified considering the circumstances of its issuance,” the SC declared.

The ERC had maintained that its order was consistent with its mandate under the Electric Power Industry Reform Act of 2001 (EPIRA), to protect public interest as it is affected by the rates of electric utilities and ensure transparent and reasonable prices of electricity by not allowing excessive and unreasonable prices of electricity during the period of Malampaya shutdown.

Among the gencos covered by the SC decision were First Gas Power Corporation, South Premiere Power Corporation, San Miguel Energy Corporation, Masinloc Power Partners Co., Ltd., Quezon Power (Phils.) Ltd. Co., Therma Luzon, Inc., Sem-Calaca Power Corporation, FGP Corporation and National Grid Corporation of the Philippines, 1590 Energy Corporation, AP Renewables, Inc., Bac-Man Energy Development Corporation/ Bac-Man Geothermal, Inc., First gen Hydro Power Corporation, GNPower Mariveles Coal Plant Ltd. Co., Panasia Energy Holdings, Inc., Power Sector Assets and Liabilities Management Corporation, SN Aboitiz Power, Strategic Power Development Corporation, Bulacan Power Generation and Vivant Sta. Clara Northern Renewables Generation Corporation.

Continued on A5

Solon: New Bulacan special ecozone bill to cure ‘defects’

A

By Jovee Marie N. dela Cruz

@joveemarie

N economist-lawmaker on Monday assured President “Bongbong” Marcos Jr. that the House of Representatives will require a cost-and-benefit analysis of the proposed Bulacan Airport City Special Economic Zone and Freeport Authority.

House Committee on Ways and Means Chairman Joey Sarte Salceda said the lower chamber will introduce safeguards to address the President’s fiscal and economic concerns on the measure, which President Marcos vetoed on July 1.

“The House will require a costand-benefit analysis. So, as early as now, I am telling potential investors and other proponents to give us a sense of their plans so that we can already weigh the costs versus the benefits. What I can assure the President and the public is that we will make sure that the concerns in the veto message are addressed,” he said.

Meanwhile, Salceda assured the public that the veto does not

affect the construction of the new airport itself.

“RA 11506, the franchise of the airport, is unaffected by the veto of the ecozone bill. So the airport will definitely push through still,” he added.

Salceda has also committed to file a version of the bill that considers the President’s reasons for vetoing the bill.

“While I was not one of the original proponents of the vetoed bill, I hope to help move this bill forward by filing a corrected version. The President’s concerns are valid, so we have to take heed,” he said.

Fiscal perks

ON fiscal incentives, Salceda said

the House will propose that the bill explicitly state that the ecozone shall be fully subject to the rules, procedures, including approvals, and regulations under Title XIII of the Tax Code (CREATE Act).

"We also propose explicitly stating that the power of the ecozone authority to grant incentives shall be a delegated power from the Fiscal Incentives Review Board. This would address the President’s concern about the lack of coherence with existing laws, rules, and regulations,” he said.

Salceda stressed he is proposing a version that removes “extraordinary powers” from the authority’s control. “[I am proposing] explicitly subjecting the ecozone authority to the Commission on Audit, and other governance mechanisms under Republic Act No. 10149 or the GOCC Governance Act, particularly Sections 24, 25, and 26, on audit mechanisms; and to subsequent rules and regulations issued by the Governance Commission for GOCCs,” he added.

Salceda also proposed limiting “the ecozone authority’s “power to acquire either by purchase, negotiation or condemnation proceedings, any private land within or adjacent to the Bulacan Ecozone” with certain conditions.

These conditions include subjecting agrarian reform land acquisition to clearance from the Secretary of Agrarian Reform, after a process similar to the Free, Prior, and Informed Consent process. Salceda also wants to include a provision stating that the exercise of powers to acquire land from agrarian reform beneficiaries shall be subject to Presidential approval through a proclamation.

On President Marcos’s concerns about metes and bounds, Salceda proposed that “that the initial metes and bounds of the proposed economic zone be explicitly included in the text of the revised bill” Salceda also proposed “an additional provision allowing the President, upon recommendation of the Department of Finance and the National Economic and Development Authority, to extend the metes and bounds of the ecozone.”

We also propose imposing a condition in Congress that a comprehensive master plan and feasibility study be presented to the Regional Development Council III and to the Economic Development Cluster of Cabinet, before the Committee on Economic Affairs (presumably the principal committee of the bill) conducts a public hearing on the new bill,” Salceda added.

PEZA backs veto, but can accept Bulacan ecozone application

By Andrea San Juan

T

HE Philippine Economic Zone Authority (PEZA) said on Monday it supports the veto of House Bill (HB) 7575 creating the Bulacan Airport City Special Economic Zone.

“It is a wise decision of President BBM, because while there are two ways of declaring ecozones, first by legislation, the second one—by way of registering the proposed ecozone with PEZA—is the best and pragmatic way,” said PEZA Director General Charito Plaza said in a televised interview.

Meanwhile, San Miguel Corp.

(SMC) said it is “eager” to work with the government to “perfect” the bill creating the special economic zone and freeport in the future airport city in Bulacan, saying such legislation could result in $200 billion in export revenues per year. SMC President Ramon S. Ang said the group respects and abides by the decision of the President to veto the Bulacan Airport City Special Economic Zone and Freeport Bill. See related story on B1.

President Ferdinand “Bongbong” Marcos Jr. vetoed on Saturday HB No. 7575 which creates the economic zone, citing, among other reasons, the possible “substantial fiscal risks” to the government.

Plaza noted that in the case of the proposed Bulacan Airport City Special Economic Zone, it should instead be registered with PEZA— the authorized agency nationwide for registering new special economic zones.

The PEZA chief added that since the economic zone is a private-led development of new ecozone, “it is but appropriate to register it with PEZA instead of having it legislated to be a new investment promotion agency [IPA].” Through this, Plaza said,

“the government is spared of responsibility to provide annual budget to legislated independent economic zones and to create multiple IPAs with overlapping goals and mandates.”

Plaza also said that through the PEZA administrative process, it removes the burden of legislation requirement just to create an economic zone or Freeport in any part of the country. However, she added that registration with PEZA would require a Presidential Proclamation after a PEZA Board approval and favorable recommendation of the proponent’s application.

Moreover, the PEZA chief noted that by having a nationwide IPA, there will be a “more cohesive” investment strategy for the country, avoiding competition among numerous IPAs to attract foreign direct investments.

In relation to the numerous IPAs and proposed new ones in Congress, the PEZA chief explained that “Legislated ecozones become the government’s burden as the national government has to provide the seed capital and the yearly budget allocated for its maintenance and operations as government subsidy provided each year.”

And, she said, an additional budget for new legislated special economic zones could also compete in the utilization of peoples’ money “for more crucial needs.”

On Saturday, Marcos also noted in his veto message that the proposed legislation is not necessary as it “lacks coherence” with existing laws, rules, and regulations since it lacked audit provisions for the Commission on Audit (COA), procedures for expropriation of lands awarded to agrarian reform beneficiaries, and a master plan for the metes and bounds of the economic zone.

Continued on A3

TURNOVER Vice President Sara Z. Duterte receives a gift from the Department of Education from the outgoing DepEd Secretary Leonor Magtolis Briones during the turnover on Monday (July 4, 2022). Briones said she is confident the agency will be in very good hands under Duterte, who will be its concurrent chief. Duterte praised the DepEd and Briones’s leadership for ably steering the sector through the pandemic, albeit occasional disapproval, public frustration and pressure. NONOY LACZA

Frasco to go on ‘listening tour’ of the PHL

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE new leadership at the Department of Tour ism (DOT) rallied her troops, so to speak, asking their support to push the recovery of their sector.

After her first flag-raising ceremony at the agency on Monday morning, Tourism Secretary-designate Christina Garcia Frasco also told employees, “This week, I will be starting my listening tour as [DOT] Secretary, to see for myself, and to hear the challenges faced by our regional offices and tourism stakeholders across Luzon, Visayas, and Mindanao. The objective [is] to be front and center of the prevailing issues that need

to be addressed, and to craft solutions that will ensure the full rehabilitation and recovery of the tourism industry.”

A native of Cebu City, she said the DOT has to be “in touch with the realities on the ground” and help put underdeveloped destinations on the radar of travelers, as well as widen the benefits to stakeholders.

“I have full trust in the workforce of the [DOT] because you have been forged in the fire of the pandemic.

We’ve been through it, we have survived, and we have thrived. There is no other challenge that we could not possibly surmount. And so, I ask for your support, I ask for your unity, I ask for your commitment to the Filipino people, that our brothers and sisters may be given equal economic opportunities through

tourism programs that are made available in sites, provinces, cities, [and] municipalities nationwide,” she said. (Also read, “New Tourism chief keen on growing domestic tourism,” in the BusinessMirror, June 6, 2022.)

‘A potent force for economic survival’

FRASCO, who was wearing a belted long-sleeved Filipiniana blouse over wide-leg pants, all in white, underscored DOT’s importance as a “potent force for economic resuscitation and economic survival.” She said President Ferdinand Marcos Jr.’s marching orders were clear; for the tourism industry to become a key engine for growth in the country.

In a brief ambush interview

with reporters, she explained, “The directive of the President has really been to ensure that we improve the overall tourist experience, first and foremost, and that will require a close examination of the tourism infrastructure not only in our well-known tourist sites, but also in those that have yet to be developed. It also includes a close examination of transportation in relation to our tourist sites and that is why I will be working very closely with both the Department of Public Works and Highways (DPWH) and the Department of Transportation (DOTr), as we will surely be needing their assistance and expertise to ensure that we improve access to our tourist destinations. “ See “Frasco,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, July 5, 2022 B1

SMC keen to work with new govt to ‘perfect’ ecozone bill

By Lorenz S. Marasigan @lorenzmarasigan

S

an Miguel Corp. (SMC) is “eager” to work with the government to “perfect” the bill that will create a special economic zone and freeport in the future airport city in Bulacan.

The conglomerate said such a piece of legislation could result in $200 billion in export revenues per year.

SMC President Ramon S. Ang said the group respects and abides by the decision of President Ferdinand R. Marcos Jr. to veto the Bulacan Airport City Special Economic Zone and Freeport Bill.

Marcos thumbed down the bill citing issues on taxation, fiscal risks, as well as overlapping government mandates.

“We respect and abide by the government's decision. We thank him for recognizing where the proposed Freeport bill can be further improved, and we look forward to working with his administration towards perfecting this. We are eager to continue working with government, and play an active role in helping our country reach its goals—as we have faithfully and consistently done,” said Ang.

SMC is financing the construction of the P740-billion New Manila International Airport (NMIA), also called the Bulacan Airport.

Ang said “if all the issues raised in the President’s veto could be addressed, and recognizing that the primary intent of the ecozone is for the benefit the country and Filipinos, its full potential could still be realized.”

He noted that if approved, the ecozone will be managed by the government, meaning tax incentives will all pass through the Department of Finance’s Fiscal Incentives Review Board (FIRB) review and approval process, to ensure these are aligned with the Corporate Recovery and Tax Incentives for Enterprises Act. “A mong our plans for the ecozone is to help create science and technology export hubs with the cheapest logistics cost, because these will be close to the airport

and seaport," Ang said.

"We are looking to attract world-class semiconductor manufacturers, battery power storage system manufacturers, electric vehicle makers, and even modular nuclear power assemblies and other new and emerging tech industries. We estimate these industries alone will add some $200 billion in annual exports—a big boost to our GDP,” Ang said.

He said any “loss” from the granting of incentives to investors will be dwarfed by the “longterm benefits to the country of the ecozone,” including “hundreds of thousands of new jobs to be generated, which will benefit the next and future generations of young Filipino graduates, professionals, and skilled workers.”

Ang also highlighted the benefit of “transfer of knowledge and technology from foreign investors and locators.”

“Incentives are a way for government to attract much-needed investments into our country, especially now that we are all pulling together to help our economy not just recover, but continuously grow in the post-pandemic era. This way, our future generations will have enough and better opportunities than we have."

Ang also addressed the issue of the NMIA being close to the Clark Airport, which was mentioned in

EDC bags Bohol power supply deal

By Lenie Lectura

L

@llectura

OPEZ-led Energy Development Corp. (EDC) said Monday it has won a competitive auction for the power requirements of electric cooperatives (ECs) in Bohol.

EDC said it bagged a 10-year power supply deal contract that will enable it to supply electricity to the entire island of Bohol 2024 up to 2033. Moreover, the generation charge for this contract is approximately P4.70 per kilowatt hour (kWh) once the contract commences in January 2024. The rate is below the P5.4089 per kWh price cap set by the One Bohol Power Distribution Utilities (1BP DUs) and also cheaper than the current blended generation rates of all three Bohol electric cooperatives—-Bohol Electric Cooperative (BOHECO) 1, BOHECO 2, and Bohol Light Electric Cooperative.

During the competitive auction, EDC was declared by 1BP as the only bidder that sucessfully

met their power requirements— a baseload power supply from a renewable energy source and an in-island backup power to ensure that Bohol will have a steady 24/7 supply of electricity even if it gets isolated from the grid amid natural catastrophes such as typhoon Odette, a category 5 typhoon that struck the province in December 2021.

Under the contract, EDC will supply 1BP 50 to 83 megawatts (MW) of power capacity to be sourced from its Unified Leyte Geothermal Power Plant, with an accompanying backup power supply from an in-island 85.12MW diesel-fired power plant that EDC and its partner will build in the province of Bohol.

Upon completion of the diesel power plant, it will be the first time Bohol province will have a backup source to keep its industry, tourism and residential sectors supplied with electricity even if the connection to Leyte Island is cut.

1BP’s power rate from the power supply contract with EDC is fixed

and subject only to Philippine consumer price index (CPI) escalation despite having diesel for its backup power. The agreed rate will prevail even if EDC supplies 1BP’s requirements through the in-land diesel plant in instances of grid isolation.

Considered as the "Holy Grail" among the renewable energy (RE) technologies, geothermal energy is the only one that provides uninterrupted baseload power rain or shine, all year round, or what the leading RE firm refers to as Geo 24/7. Being powered by Geo 24/7 will enable 1BP and its power consumers to avoid about 312,355 to 524,757 tons of carbon dioxide in lieu of coal each year.

EDC’s over 1,480MW total installed capacity accounts for 20 percent of the country’s total installed RE capacity while its 1,184.6MW geothermal portfolio accounts for 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the third largest geothermal producer in the world.

CTS Global expands operations to Indonesia

L

isted stock broker CTS Global Equity Group Inc. on Monday said it has forayed into the Indonesian Stock Market as part of its regional expansion plans.

In its disclosure, the company said it has made an initial fund disbursement to Bank Central Asia (BCA) Indonesia.

“The long-term goal for CTS is to derive 75 percent of its revenues from the global markets. We have worldclass traders that are more than capable and now that we have capital in our arsenal, it’s time to expand into markets like Indonesia,” CTS Global CEO Lawrence Lee said.

The company said the expansion to the Indonesian market, which is more than eight times bigger than the Philippine market, is one of the strategies for CTS Global to reach

its long-term target of getting more revenues from global trading. For the first quarter, 43 percent of total proprietary trading revenues of the company came from global markets.

This expansion allows CTS Global to benefit from the Philippines's neighboring country’s growth prospects, the broker said.

The Indonesia Stock Exchange registers an average daily value traded of $1 billion, versus the Philippine Stock Exchange’s $150 million. The stock market of Indonesia, Southeast Asia’s biggest economy, is commodity-driven, and thus was able to thrive into the pandemic.

Indonesia is also the home of big technology companies such as GoTo, the merger between the country’s most valuable startups Gojek and Tokopedia. GoTo went public in April as

one of Jakarta’s largest listings and the fifth largest initial public offering in the world this year.

GoTo’s listing was well received by the market as seen by its 23 percent increase on its first day of trading.

This positive reception should fuel the Indonesian market through more technology company listings in the coming years, CTS said.

CTS Global debuted in the Philippine Stock Exchange last April at P1 share, raising P1.37 billion in gross proceeds mainly to fund its global trading operations and other purposes. The company has been active in the Philippines, Japan, Hong Kong and the US equity markets.

This venture into Indonesia starts CTS’ expansion into more geographical locations, the company said.

VG Cabuag

the veto and was initially raised by the DOF under the previous administration, which said NMIA would “compete” with Clark International Airport.

He said that apart from the considerable distance between the two airports—Clark is approximately some 100 kilometers from Metro Manila— large and progressive cities all over the world employ a multiple airport strategy, such as Tokyo and New York, among others.

The businessman noted that in the next three decades, the need for the NMIA will be magnified, given the current limitations of the existing gateways, as well as the projected growth of the population in Metro Manila and its nearby provinces.

“What we don’t want is to repeat the mistakes of the past where we were not quick enough to develop new infrastructure, giving rise to overcapacity and congestion on our aging roads, ports, and other facilities, and even in our skies.

Temporary fixes will not do anymore.

We are building for the future, with a clear vision of a fully-developed and progressive, prosperous Philippines."

Ang said that regardless of the outcome of any further government review or action on the ecozone, SMC remains fully committed to continuing on its path of growth through nation-building, and building the NMIA—seen as the solution to decades of air traffic and land congestion that have severely limited the country’s growth.

LFM Properties listing by way of intro gets nod

By VG Cabuag

T

@villygc

he Securities and Exchange Commission (SEC) has approved the listing by way of introduction of LFM Properties Corp. on the Philippine Stock Exchange (PSE).

In its en banc meeting on June 28, the SEC has approved the registration statement of LFM Properties covering up to 10.35 billion common shares, subject to the company’s compliance with certain remaining requirements.

The company's parent, listed Liberty Flour Mills Inc. (LFM), plans to distribute 10.35 billion common shares of LFM Properties as property dividend to all of its stockholders as of December 18, 2020.

LFM stockholders will receive 69 shares of LFM Properties for every LFM share they hold.

LFM Properties will then list by way of introduction 25 billion common shares on the small, medium and emerging board of the PSE. The initial listing price for the common shares will be 10.7 centavos each.

The PSE’s rules on listing by way of introduction indicate that listing may be appropriate where the securities of an unlisted issuer are distributed by way of property dividend by a listed issuer to shareholders of that listed issuer.

Liberty Flour was incorporated on

December 26, 1958 to engage in the business of manufacturing flour and flour-related products.

LFM's products consist mainly of bakery flour products under the brands El Superior, LFM Bakers, Pine Tree and LFM Soft. The products are exclusively distributed and marketed

by Parity Values Inc., Trade Demands Corp. and Liberty Commodities Corp.

LFM sells its products mainly on a wholesale basis principally to members of the bakingand food supply industry nationwide.

LFM Properties, meanwhile, is engaged in the business of leasing out office and commercial spaces, while its sister firm Liberty Engineering Corp. is engaged in the sale, lease and purchase of equipment and machinery.

Liberty Flour reported a net loss of P37.11 million in the first quarter from last year's income of P30.51 million.

The company said there was a decrease of 13 percent in volume of flour bags sold in the first quarter but the fall was offset by the successive price increases implemented to offset the huge increases in the cost of raw materials.

Cost of sales rose by 39 percent from last year due to very high costs of wheat and high manufacturing costs.

In April, the company's board approved the purchase of 3.1 hectares of land in Lemery, Batangas, from eight different owners for a total price of P260 million.

B2

Companies BusinessMirror

Tuesday, July 5, 2022

PSE STOCK QUOTATIONS

July 4, 2022

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

ASIA UNITED 44.05 44.95 44.8 44.9 44.8 44.9 200 8,970 BDO UNIBANK 115.4 115.5 113 116.9 112.7 115.5 1,946,140 224,598,807 BANK COMMERCE 8.26 8.29 8.09 8.29 8.09 8.29 37,000 303,104 BANK PH ISLANDS 86 86.25 86 86.25 85.2 86 924,020 79,461,537 ( CHINABANK 26.8 26.85 26.8 26.8 26.8 26.8 9,800 262,640 EAST WEST BANK 6.91 6.92 6.98 6.98 6.9 6.92 214,900 1,486,913 METROBANK 48 48.1 48 48.8 47.8 48 690,100 33,229,265 PB BANK 7 7.19 7.01 7.01 7 7 13,400 93,867 PHIL NATL BANK 17.9 17.92 17.94 17.94 17.7 17.92 21,200 376,318 PSBANK 56.25 56.9 56.25 56.25 56.25 56.25 200 11,250 SECURITY BANK 87.35 87.6 89.35 89.35 86.6 87.6 246,000 21,491,968.5 UNION BANK 82.5 82.95 75.75 84 75.75 82.95 401,680 32,733,416 BRIGHT KINDLE 1.87 1.9 2 2 1.9 1.9 272,000 521,770 IREMIT 0.73 0.83 0.73 0.73 0.73 0.73 7,000 5,110 PHIL STOCK EXCH 184 184.9 186.8 186.8 184 184 920 170,862 SUN LIFE 2,366 2,378 2378 2,378 2,366 2,366 180 426,300

INDUSTRIAL AC ENERGY 8.05 8.07 7.95 8.07 7.9 8.07 9,412,800 75,690,716 ALSONS CONS 0.91 0.97 0.95 0.95 0.92 0.92 51,000 46,950 ABOITIZ POWER 29.25 29.45 29.5 29.6 29.15 29.45 1,020,100 29,938,270 RASLAG 1.98 1.99 2.06 2.07 1.99 1.99 41,210,000 82,521,860 BASIC ENERGY 0.385 0.395 0.4 0.405 0.385 0.395 2,310,000 916,700 FIRST GEN 17.04 17.2 17.36 17.36 17.04 17.04 138,700 2,371,556 FIRST PHIL HLDG 60.2 61 60.2 60.2 60.2 60.2 500 30,100 MERALCO 351 353 353 355.8 351 351 75,710 26,650,340 MANILA WATER 16.58 16.6 16.7 16.7 16.5 16.6 51,300 851,128 PETRON 3.04 3.05 3.04 3.07 3.03 3.04 634,000 1,926,820 PHX PETROLEUM 9.51 9.99 9.51 9.99 9.51 9.99 7,000 67,050 SYNERGY GRID 12.06 12.08 12.06 12.18 12.06 12.08 231,500 2,802,404 ( PILIPINAS SHELL 17.9 17.98 17.8 18 17.8 17.9 20,700 371,510 SPC POWER 9.01 9.06 9.14 9.14 8.9 9.01 172,400 1,557,187 SOLAR PH 1.73 1.74 1.68 1.76 1.68 1.74 55,749,000 96,425,890 AGRINURTURE 5.27 5.28 5.01 5.34 5.01 5.28 2,020,800 10,606,625 AXELUM 2.25 2.27 2.26 2.27 2.25 2.27 79,000 178,840 CNTRL AZUCARERA 9.11 9.75 9.75 9.75 9.75 9.75 4,500 43,875 CENTURY FOOD 21.7 22 22.35 22.35 21.5 21.7 532,600 11,591,190 DEL MONTE 14.44 14.5 14.5 14.5 14.44 14.44 8,500 123,226 DNL INDUS 6.74 6.75 6.77 6.78 6.72 6.75 1,887,600 12,742,333 EMPERADOR 18.5 18.52 18.76 19.1 18.46 18.52 2,188,200 40,606,166 SMC FOODANDBEV 45.8 45.85 46.95 47.4 45.65 45.85 59,600 2,760,265 FIGARO COFFEE 0.55 0.56 0.57 0.58 0.54 0.55 11,590,000 6,402,840 ALLIANCE SELECT 0.55 0.57 0.55 0.59 0.55 0.59 3,000 1,730 FRUITAS HLDG 1.07 1.09 1.08 1.09 1.07 1.09 1,537,000 1,659,820 GINEBRA 98 100 98 100 98 100 3,190 313,970 JOLLIBEE 203 203.2 205 205 201 203.2 551,770 111,941,850 KEEPERS HLDG 1.11 1.12 1.13 1.13 1.1 1.12 321,000 357,810 LIBERTY FLOUR 17 22.3 17 17 17 17 200 3,400 MAXS GROUP 4.49 4.6 4.48 4.49 4.48 4.49 8,000 35,880 MONDE NISSIN 13.2 13.32 13.12 13.46 13.06 13.2 7,194,800 95,759,122 SHAKEYS PIZZA 7 7.01 7.01 7.04 7.01 7.01 10,000 70,145 ROXAS AND CO 0.52 0.53 0.53 0.55 0.52 0.53 552,000 288,970 RFM CORP 3.93 3.95 3.95 3.95 3.95 3.95 62,000 244,900 ROXAS HLDG 1.27 1.35 1.35 1.35 1.35 1.35 103,000 139,050 SWIFT FOODS 0.09 0.096 0.096 0.096 0.096 0.096 10,000 960 UNIV ROBINA 110 110.5 109 111.9 107.2 110.5 1,221,410 134,443,085 VITARICH 0.59 0.62 0.59 0.62 0.59 0.62 9,000 5,340 VICTORIAS 2.5 2.55 2.5 2.55 2.5 2.55 36,000 90,450 CEMEX HLDG 0.6 0.61 0.63 0.63 0.59 0.61 4,778,000 2,907,820 EAGLE CEMENT 12.24 12.38 12.24 12.24 12.24 12.24 13,100 160,344 EEI CORP 3.39 3.4 3.46 3.46 3.29 3.39 68,000 227,410 HOLCIM 5.1 5.29 5.28 5.28 5.2 5.2 6,200 32,720 MEGAWIDE 4.53 4.58 4.54 4.65 4.51 4.53 433,000 1,978,960 ( PHINMA 18.9 19.2 19.48 19.48 19.2 19.2 1,300 25,240 TKC METALS 0.69 0.72 0.72 0.72 0.72 0.72 121,000 87,120 VULCAN INDL 0.79 0.8 0.8 0.8 0.79 0.79 57,000 45,080 CROWN ASIA 1.67 1.75 1.67 1.77 1.61 1.77 30,000 49,900 EUROMED 1 1.04 1.05 1.05 1.04 1.04 3,000 3,140 PRYCE CORP 5.3 5.46 5.3 5.46 5.3 5.46 2,100 11,450 CONCEPCION 18.28 19 19.06 19.06 19.06 19.06 600 11,436 GREENERGY 1.57 1.6 1.61 1.62 1.56 1.6 4,647,000 7,404,600 INTEGRATED MICR 6.1 6.12 6.3 6.3 6.1 6.12 14,600 89,680 IONICS 0.59 0.6 0.59 0.59 0.59 0.59 119,000 70,210 PANASONIC 5.66 5.88 5.88 5.88 5.88 5.88 1,300 7,644 SFA SEMICON 1.14 1.16 1.16 1.16 1.13 1.13 895,000 1,027,240 CIRTEK HLDG 2.67 2.68 2.65 2.7 2.64 2.67 144,000 384,670

HOLDING & FRIMS

ABACORE CAPITAL 1.46 1.47 1.45 1.47 1.44 1.47 3,969,000 5,801,810 AYALA CORP 610 615 626 626 610 610 167,470 102,660,040 ABOITIZ EQUITY 47.25 47.5 48.45 48.45 45.95 47.25 1,930,500 91,338,255 ALLIANCE GLOBAL 9.1 9.2 8.8 9.2 8.6 9.2 2,362,700 21,479,761 ANSCOR 8.6 8.98 8.99 8.99 8.8 8.98 4,700 42,043 ANGLO PHIL HLDG 0.75 0.79 0.79 0.79 0.79 0.79 1,000 790 ATN HLDG A 0.41 0.415 0.42 0.42 0.41 0.41 320,000 131,400 ATN HLDG B 0.42 0.45 0.45 0.45 0.45 0.45 30,000 13,500 COSCO CAPITAL 4.28 4.32 4.35 4.35 4.28 4.32 1,785,000 7,739,300 DMCI HLDG 8.68 8.7 8.81 8.81 8.66 8.7 994,300 8,682,590 FILINVEST DEV 7 7.07 7.07 7.07 7 7 4,300 30,359 FJ PRINCE A 2.23 2.64 2.5 2.5 2.5 2.5 6,000 15,000 GT CAPITAL 477.4 484 493 493 473 477.4 58,190 27,846,342 JG SUMMIT 48 48.85 48.1 49 48 48 550,800 26,500,095 KEPPEL HLDG A 7.57 9.01 9.7 9.8 9.01 9.01 8,000 75,798 LOPEZ HLDG 2.97 3 2.97 2.97 2.97 2.97 5,000 14,850 LT GROUP 8.3 8.31 8.3 8.35 8.23 8.31 633,900 5,251,722 METRO PAC INV 3.44 3.46 3.47 3.47 3.42 3.44 4,640,000 15,983,880 PACIFICA HLDG 2.18 2.26 2.17 2.26 2.17 2.26 3,000 6,610 PRIME MEDIA 2.8 2.85 2.93 2.95 2.75 2.8 1,429,000 4,017,390 SOLID GROUP 0.89 0.9 0.94 0.95 0.89 0.89 643,000 578,440 SM INVESTMENTS 798 800 780 804 771 800 278,230 221,575,170 SAN MIGUEL CORP 104.5 107 106.5 107 104 107 49,720 5,281,289 TOP FRONTIER 107 116 116.5 116.5 105 116 1,560 176,261 WELLEX INDUS 0.25 0.29 0.25 0.25 0.25 0.25 420,000 105,000 ZEUS HLDG 0.165 0.168 0.17 0.17 0.168 0.168 320,000 53,780

PROPERTY ARTHALAND CORP 0.54 0.57 0.57 0.57 0.56 0.56 29,000 16,250 ANCHOR LAND 6 6.58 6 6 6 6 1,400 8,400 AYALA LAND 25.7 26 26.05 26.35 25.7 25.7 8,108,800 210,302,190 AYALA LAND LOG 3.34 3.38 3.33 3.35 3.3 3.34 122,000 406,680 ARANETA PROP 1.58 1.59 1.82 1.82 1.52 1.58 3,551,000 5,684,410 AREIT RT 36.6 37.05 36 37.05 36 36.6 328,800 12,055,590 A BROWN 0.72 0.76 0.72 0.75 0.72 0.75 20,000 14,700 CITYLAND DEVT 0.68 0.69 0.69 0.69 0.69 0.69 8,000 5,520 CROWN EQUITIES 0.085 0.09 0.091 0.091 0.085 0.091 260,000 22,670 CEB LANDMASTERS 2.5 2.51 2.5 2.51 2.5 2.51 296,000 740,080 CENTURY PROP 0.37 0.375 0.37 0.375 0.37 0.375 100,000 37,200 CITICORE RT 2.44 2.46 2.46 2.49 2.44 2.44 716,000 1,766,120 DOUBLEDRAGON 8.2 8.29 8.13 8.32 8.13 8.2 33,100 271,565 DDMP RT 1.47 1.48 1.49 1.5 1.47 1.48 1,400,000 2,082,320 DM WENCESLAO 6.83 6.85 6.85 6.85 6.8 6.85 18,500 126,605 EVER GOTESCO 0.248 0.25 0.25 0.255 0.245 0.25 2,490,000 614,180 FILINVEST RT 6.79 6.8 6.8 6.8 6.78 6.8 1,370,800 9,314,846 FILINVEST LAND 0.84 0.85 0.86 0.88 0.85 0.85 15,019,000 12,822,020 8990 HLDG 10 10.3 10.16 10.3 10 10.3 44,900 451,480 PHIL INFRADEV 0.92 1 0.92 0.92 0.92 0.92 129,000 118,680 KEPPEL PROP 3.72 3.75 3.69 3.75 3.69 3.75 31,000 115,030 CITY AND LAND 0.71 0.73 0.73 0.73 0.71 0.71 36,000 26,140 MEGAWORLD 2.04 2.05 2.08 2.08 2.03 2.04 33,481,000 68,630,590 MRC ALLIED 0.182 0.184 0.185 0.185 0.182 0.184 2,650,000 485,950 MREIT RT 15.72 15.78 15.56 15.78 15.3 15.78 269,300 4,198,146 OMICO CORP 0.34 0.36 0.35 0.35 0.35 0.35 300,000 105,000 PHIL ESTATES 0.375 0.39 0.37 0.39 0.37 0.39 160,000 59,800 PRIMEX CORP 2.05 2.1 2.1 2.12 2.08 2.11 1,646,000 3,460,660 RL COMM RT 6.42 6.43 6.45 6.45 6.3 6.43 362,100 2,307,000 ROBINSONS LAND 16.84 17.2 17.3 17.8 16.82 16.84 1,262,700 21,363,892 PHIL REALTY 0.216 0.235 0.23 0.237 0.229 0.23 350,000 81,490 ROCKWELL 1.2 1.23 1.21 1.21 1.2 1.2 13,000 15,640 SHANG PROP 2.47 2.53 2.55 2.55 2.55 2.55 1,000 2,550 STA LUCIA LAND 2.91 3.06 3.08 3.08 3.08 3.08 5,000 15,400 SM PRIME HLDG 36 36.05 36.3 36.5 35.8 36.05 6,157,800 222,513,390 VISTAMALLS 3.21 3.5 3.2 3.48 3.2 3.21 10,000 32,390 SUNTRUST RESORT 0.99 1 1 1.02 0.96 1.02 81,000 80,570 VISTA LAND 1.98 1.99 1.96 2 1.93 1.98 1,226,000 2,403,100 VISTAREIT RT 1.75 1.76 1.76 1.77 1.75 1.75 1,378,000 2,424,890

(31,581,392) 24,946,579.5) 5,360 (460,052) (10,415,120) 12,534 11,250 6,361,829.5 19,138,049 57,980 343,070 (7,196,085) (46,000) (10,521,495) 23,500 (16,000) (1,108,124) (1,962,534) 30,696 76,210 615,267.9997) 141,708 (1,075,740) (161,585) (81,460) 99,550 1,450 (5,543,410) 9,463,272 (1,948,720) (33,220) (44,397,740) (3,400) (8,980) (2,783,384) (45,610) 167,880 (237,000) (26,303,942) (2,409,610) (13,580) 119,309.9997) 2,100 (12,200) (124,390) 1,445,920 (48,444,100) 941,890 5,308,767 790 1,165,090 (1,081,486) (7,049,446) (14,383,015) (208,166) (2,788,380) (51,746,835) 497,339 (75,000) (103,410,225) (186,540) 42,330 (66,635) 387,450.0001 7,379.9999 (10,780) (80,920) (10,950,510) (9,142,610) (220,722) (210,000) (281,095) (1,813,518) 2,550 (50,372,805) (1,201,740) 38,680

SERVICES ABS CBN 9.33 9.84 9.62 9.9 9.3 9.88 230,600 2,184,948 GMA NETWORK 11.2 11.22 11.24 11.28 11.16 11.2 418,400 4,699,380 MANILA BULLETIN 0.335 0.365 0.37 0.37 0.335 0.335 20,000 7,050 GLOBE TELECOM 2,200 2,210 2202 2,212 2,172 2,200 33,555 73,636,210 (15,672,190) PLDT 1,725 1,729 1733 1,810 1,697 1,729 189,010 327,363,760 (47,037,485) APOLLO GLOBAL 0.037 0.038 0.038 0.039 0.037 0.038 49,800,000 1,881,700 37,500 CONVERGE 22 22.05 21.15 22.1 20.95 22 11,083,400 240,851,560 (31,069,945) DFNN INC 3.2 3.24 3.7 3.87 3.2 3.2 3,597,000 13,237,570 191,230 DITO CME HLDG 4.2 4.21 4.01 4.22 4 4.2 6,602,000 27,414,710 1 ,188,550.0001 NOW CORP 1.16 1.17 1.16 1.18 1.15 1.17 765,000 884,470 ( 684,299.9997) TRANSPACIFIC BR 0.295 0.305 0.29 0.315 0.29 0.3 16,850,000 5,088,350 259,500 2GO GROUP 6.81 6.9 6.8 6.81 6.8 6.81 3,100 21,090 ASIAN TERMINALS 13.52 13.88 13.88 13.88 13.86 13.86 800 11,100 1,388 CHELSEA 1.28 1.3 1.35 1.39 1.25 1.3 697,000 918,490 (206,400) CEBU AIR 41.1 41.15 41 41.5 40.9 41.15 159,700 6,573,650 (574,050) INTL CONTAINER 183.7 184.5 191 193.3 183.8 183.8 796,650 147,439,893 (83,202,026) LORENZO SHIPPNG 0.51 0.73 0.51 0.73 0.51 0.73 3,000 1,750 MACROASIA 4.21 4.27 4.39 4.39 4.21 4.27 73,000 313,240 8,600 PAL HLDG 5.7 5.86 5.6 5.88 5.6 5.7 141,400 809,086 HARBOR STAR 0.84 0.85 0.85 0.85 0.85 0.85 40,000 34,000 BOULEVARD HLDG 0.082 0.084 0.083 0.085 0.082 0.082 20,880,000 1,748,280 DISCOVERY WORLD 1.6 1.7 1.6 1.6 1.6 1.6 2,000 3,200 WATERFRONT 0.41 0.45 0.41 0.41 0.41 0.41 300,000 123,000 STI HLDG 0.33 0.335 0.33 0.33 0.33 0.33 10,000 3,300 BELLE CORP 1.19 1.2 1.2 1.2 1.2 1.2 51,000 61,200 (60,000) BLOOMBERRY 5.81 5.9 5.92 5.98 5.81 5.81 284,600 1,673,936 74,991 PACIFIC ONLINE 1.43 1.47 1.43 1.43 1.43 1.43 29,000 41,470 (8,580) LEISURE AND RES 1.37 1.4 1.43 1.43 1.38 1.4 1,780,000 2,468,230 MJC INVESTMENTS 0.94 1.32 0.94 0.94 0.94 0.94 8,000 7,520 PH RESORTS GRP 0.78 0.79 0.79 0.83 0.79 0.79 803,000 642,060 (268,360) PREMIUM LEISURE 0.39 0.395 0.395 0.395 0.39 0.395 2,340,000 924,150 PHILWEB 4.28 4.3 5.09 5.1 4.2 4.3 13,479,900 60,235,840 (6,412,812) ALLDAY 0.3 0.305 0.315 0.315 0.295 0.3 21,760,000 6,587,200 95,000 ALLHOME 4.5 4.56 4.75 4.75 4.46 4.56 109,000 503,550 150,480 METRO RETAIL 1.46 1.47 1.47 1.47 1.45 1.47 184,000 270,280 10,150 PUREGOLD 30.9 30.95 30.9 31.1 30.7 30.95 124,400 3,847,075 (469,225) ROBINSONS RTL 49.9 50.15 50.15 50.15 49.5 50 160,660 7,994,574 24,961.5 PHIL SEVEN CORP 54 55 57 57 54 55 2,360 130,030 SSI GROUP 1.28 1.29 1.25 1.28 1.25 1.28 1,593,000 2,029,660 479,080 WILCON DEPOT 22.7 23 24 24 22.25 23 3,061,000 70,674,870 8,427,065 APC GROUP 0.195 0.198 0.19 0.195 0.19 0.195 1,950,000 371,500 MEDILINES 0.57 0.58 0.59 0.59 0.57 0.58 165,000 94,960 590 PRMIERE HORIZON 0.415 0.42 0.405 0.42 0.405 0.415 1,290,000 532,300 (44,550)

MINING & OIL ATOK 6.81 6.82 6.81 6.9 6.81 6.81 13,200 89,901 APEX MINING 1.43 1.44 1.43 1.46 1.42 1.44 193,000 275,280 (74,160) ATLAS MINING 4.7 4.8 4.71 4.75 4.7 4.7 140,000 659,050 (268,550) BENGUET A 5.53 5.6 5.6 5.6 5.55 5.6 23,300 129,530 BENGUET B 5.85 5.9 5.7 5.95 5.7 5.9 13,900 80,025 28,500 CENTURY PEAK 2.63 2.73 2.7 2.73 2.65 2.73 70,000 186,800 186,800 DIZON MINES 3.8 4.28 3.82 3.82 3.8 3.8 11,000 41,870 FERRONICKEL 2.33 2.39 2.35 2.39 2.29 2.32 3,950,000 9,103,480(6, 322,959.9999) GEOGRACE 0.171 0.182 0.172 0.172 0.172 0.172 50,000 8,600 (8,600) LEPANTO A 0.134 0.135 0.137 0.138 0.133 0.134 7,200,000 967,930 LEPANTO B 0.135 0.14 0.14 0.14 0.14 0.14 50,000 7,000 MANILA MINING A 0.0096 0.0097 0 0.0093 0.0096 0.0093 0.0096 9,000,000 86,000 MANILA MINING B 0.0093 0.0098 0 0.0093 0.0093 0.0093 0.0093 2,000,000 18,600 (18,600) MARCVENTURES 1.33 1.37 1.41 1.41 1.3 1.33 3,856,000 5,213,850 NIHAO 0.91 0.93 0.91 0.91 0.91 0.91 8,000 7,280 NICKEL ASIA 6.14 6.2 6.33 6.33 6.1 6.14 6,257,800 38,516,528 1,569,298 PX MINING 3.3 3.33 3.4 3.4 3.3 3.32 290,000 964,850 6,720 SEMIRARA MINING 36.2 36.3 36 36.65 35.6 36.2 4,565,400 165,274,100 (11,356,245) ACE ENEXOR 10.16 10.22 11.88 12.8 10.02 10.16 1,617,900 18,844,088 20,338 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.011 5,100,000 56,200 PHILODRILL 0.0088 0.0089 0 0.0087 0.0089 0.0087 0.0089 4,000,000 35,400 PXP ENERGY 5.25 5.29 5.38 5.48 5.2 5.29 381,200 2,031,388 16,200

PREFFERED

HOUSE PREF B 98 99.5 99.5 99.5 99.5 99.5 10 995 AC PREF B1 501 501.5 501 501.5 501 501.5 1,050 526,100 CEB PREF 41.05 41.95 41.3 41.3 41 41.05 22,600 928,425 DD PREF 96.5 101.2 99 99 95 95 4,700 448,000 EEI PREF B 105 107 107 107 107 107 10 1,070 FGEN PREF G 99.8 100 100 100 100 100 1,320 132,000 JFC PREF B 965 979 979 979 979 979 20 19,580 PNX PREF 4 975 976 975 976 975 976 90 87,760 PCOR PREF 3A 1,043 1,046 1043 1,043 1,043 1,043 4,230 4,411,890 PCOR PREF 3B 1,062 1,070 1070 1,070 1,070 1,070 100 107,000 SMC PREF 2F 76.4 76.45 76.25 76.45 76.25 76.4 11,600 885,905 SMC PREF 2J 74 74.25 74.25 74.25 74 74.25 36,420 2,695,117.5 SMC PREF 2K 72.75 74 73 74 73 74 1,180 86,820 TECH PREF B2D 52.2 56 56.4 56.4 56.4 56.4 120 6,768 PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 9.06 9.26 9.05 9.26 9.05 9.26 60,900 563,913 GMA HLDG PDR 10.9 11.1 11.22 11.22 10.9 10.9 46,300 505,790

WARRANTS TECH WARRANT 0.48 0.5 0.51 0.51 0.5 0.5 69,000

SMALL & MEDIUM ENTERPRISES

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.67 0.92 0.96 0.75 1.22 0.28

0.69 0.93 1 0.78 1.23 0.285

0.66 0.94 1 0.75 1.27 0.285

0.71 0.95 1 0.78 1.27 0.285

0.66 0.92 1 0.75 1.22 0.28

0.67 0.93 1 0.78 1.22 0.28

16,032,000 4,764,000 62,000 146,000 1,204,000 1,870,000

35,010

-

11,052,780 4,426,670 62,000 112,010 1,486,950 527,150 (

(7,100) 359,940 9,850 481,549.9997)

EXHANGE TRADE FUNDS FIRST METRO ETF

95.55

95.8

95.5

96

95

95.8

48,110

(516,708) (11,000)

4,591,707

3,690,971

www.businessmirror.com.ph

Shakey’s to hike spending for digital systems, IT infra

By VG Cabuag

S

@villygc

hakey’s Pizza Asia Ventures Inc. said it is committing 20 percent to 30 percent of its capital expenditures starting this year for its information technology infrastructure and digital systems in its bid to automate most of its operations.

Vicente L. Gregorio, Shakey’s president and CEO, said the company had to shift its IT platform to a new one as its existing in-house system cannot keep up with the pace of the firm’s growth. He said the company, which now owns a stable of brands, is always fixing its old system, which he said was time-consuming and costly.

“We see innovation as the key to providing better experiences, better value, better quality, faster and more convenient service.

And because in this very hyper competitive industry we are in, we always aim to be ahead of the pack,” he said.

Gregorio said Shakey’s, which owns the brand in the Philippines

PAVI Green aims to deliver RE to more homes

By Lenie Lectura

P

@llectura

AVI Green Renewable Energy Inc. of the Villar Group is gearing up to contribute to the Philippines’s goal of hitting 35-percent share of renewable energy (RE) capacity in the power generation mix by 2030.

PAVI Green, a subsidiary of Prime Asset Ventures Inc. (PAVI), is the holding company founded by Paolo Villar.

It is one of the newest players in the renewable energy industry to have been granted entry into capacitating requirements for the Luzon grid.

“This is a significant development for PAVI Green and we are proud to contribute to this initiative. Our vision is to bring sustainable renewable energy into homes across the country today and in the future,” said Robert Pereja, Chief Operating Officer of PAVI Green.

He was referring to the recently concluded Green Energy Auction Program (GEAP) in which PAVI Green was declared as a winning bidder for its Naga solar power plant project with a bid capacity of 40.400megawatts (MW).

W hen implemented, the Naga solar power plant project can potentially energize at least 15,000 homes per year and, more importantly, the project is expected to reduce carbon emissions by approximately 144,680 tons of carbon dioxide.

Alongside its participation in the GEAP, PAVI Green has also been working to complete its large-scale power plant projects. Its 20MW solar power facility in Bataan is expected to be completed this year while its 36 MW

solar power facility in San Vicente is targeted to be completed in 2023.

The output of the 20MW solar facility will be supplied to its Retail Electricity Supply (RES) company, Kratos RES Inc. The company’s other RE initiatives include energizing various malls across the country. To date, PAVI Green has successfully completed rooftop solar projects supplying clean energy to five Vista Mall branches in Santiago, Isabela; Cabanatuan, Nueva Ecija; Iloilo, as well as in the provinces of Bacolod and Butuan. The company is also set to extend these projects to cover eight additional Vista Malls this year.

“Sustainable energy is the future, and we hope to significantly contribute to the Philippines’s renewable energy targets as we aspire to be a premier provider of renewable energy to homes and businesses across the country,” Pereja said.

Earlier, PAVI Green said it was ready to pour in P40 billion to build 1,000MW of capacity in three to five years.

It earlier said it was looking to complete at least 100 MW of solar projects online next year. “We have a 36-MWp project in San Vicente, Camarines Norte and a 50-MWp project in Naga, Camarines Sur,” Pereja earlier said, adding that it is also seeking more opportunities in wind and hydropower.

The Villar Group made its foray in the power sector when it won the bid to supply electricity to Siquijor Island through PAVI Green. It then ventured into solar rooftop development before embarking on large-scale solar power projects.

Cebu Pacific restarts Cebu-Seoul flights

By Lorenz S. Marasigan

B

@lorenzmarasigan

UDGET carrier Cebu Pacific has resumed its twice-weekly Cebu-Seoul operations, marking the resumption of its international operations outside Manila.

This direct flight enables passengers from 21 other domestic destinations to fly to Seoul, South Korea via Cebu. This list includes Clark, Davao, Dumaguete, Puerto Princesa, and Zamboanga.

“We are delighted to relaunch this flight as we know this signals the restart of easier international travels for our passengers in the Visayas and Mindanao. We look forward to steadily growing our network outside Metro Manila, both domestically and internationally,” said Xander Lao, Cebu Pacific Chief Commercial Officer.

Fully vaccinated travelers flying to Seoul need to bring their negative Covid-19 test result taken within 48

hours before departure, valid vaccination certificate, and a filled-out foreigner registration card.

As countries continue to reduce Covid-19 measures, Cebu Pacific plans to revitalize its international network. Its domestic network has already been restored to 100 percent of its pre-pandemic capacity.

The airline announced last Sunday that it has resumed its thrice weekly flights to Australia.

As countries continue to reduce Covid-19 measures, Cebu Pacific plans to revitalize its international network. Its domestic network has already been restored to 100 percent of its pre-pandemic capacity.

Last month, the airline announced that it will ramp up its flights to Singapore from Manila and Cebu.

In an advisory, Cebu Pacific said it will double the daily frequency of its Manila-Singapore operations starting July 1, while its thrice weekly CebuSingapore route will reopen on July 15.

and in some parts of the region, is tapping into the infrastructure of Amazon’s Amazon Web Services (AWS) to further enhance its IT system which helps the company to crunch customer habits that help in improving products and services.

“As the saying goes, data is the new oil. And you can only use that if you believe that you have the right data and have access to it as fast as possible.”

Gregorio said the company’s expenditures on IT will be three times more than the previous year due to the roll out of the new platform.

The company earlier said it is spending some P650 million this year.

Gregorio said the roll out of the new system will better support the company’s growth targets moving forward, particularly in its delivery service and innovations.

He said that with its new system, Shakey’s will be able to spend less on manpower as it will do away with

mutual funds

those that will do the same thing that automation can, but the expansion of its operations will allow it to hire more people.

He said the new solutions by AWS will allow the company to be more flexible and move faster.

Gregorio said data-driven initiatives are key to Shakey’s decision making as this allows for a fast conversion of ideas.

“If we’re to do all of the menial stuff over and over again, it’s not very efficient. And not to mention about the cost savings, we cannot provide superior value for products and services if we are offering a thing as very inefficient,” he said.

“So we’re very fortunate to have partnered with AWS, one of our key things technology partners. And it was started with access to the cloud computing and cloud network. And it really helped us because it allowed us to be more agile, it allowed us to move on faster.”

July 4, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a 198.95 -10.95% -9.63% -6.2% -14.65% ATRAM Alpha Opportunity Fund, Inc. -a 1.3207 -6.98% -7.42% -3.7% -20.64% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7286 -11.5% -13.27% -8.75% -15.73% Climbs Share Capital Equity Investment Fund Corp. -a 0.6923 -11.24% -10.36% n.a.

-8.49% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6479 -14.76% -10.01% n.a.

-15.96% First Metro Save and Learn Equity Fund,Inc. -a 4.4944 -8.7% -6.92% -4.13% -13.28% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6645 -7.94% -9.49% -6.99% -15.17% MBG Equity Investment Fund, Inc. -a 76.19 -24.49% -14.65% n.a.

-19.32% PAMI Equity Index Fund, Inc. -a 40.7292 -11.13% -8.62% -4.78% -15.37% Philam Strategic Growth Fund, Inc. -a 426.94 -11.15% -8.34% -4.76% -14.73% Philequity Dividend Yield Fund, Inc. -a 1.2154 4.89% -3.45% -1.36% -10.39% Philequity Fund, Inc. -a 31.1383 -9.22% -7.74% -3.75% -14.91% Philequity MSCI Philippine Index Fund, Inc. -a 0.8042 -9.96% -9.07% n.a.

-14.57% Philequity PSE Index Fund Inc. -a 4.2169 -10.2% -8% -4.18% -15% Philippine Stock Index Fund Corp. -a 702.53 -10.68% -8.07% -4.25% -15.2% Soldivo Strategic Growth Fund, Inc. -a 0.6287 -12.17% -12.64% -6.96% -16.46% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.1663 -10.92% -10.53% -5.56% -16.14% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7997 -10.98% -8.36% -4.5% -15.33% United Fund, Inc. -a 2.9592 -9.3% -8.01% -3.38% -13.91% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0025 -8.15% n.a. n.a.

-13.78% Philippine Stock Index Fund Corp. -a 855.46 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 94.7001 -10.31% -7.87% -3.87% -15.05% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.938 -26.38% -2.52% -0.97% -16.73% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4436 -20.16% 3.14% 4.53% -21.82% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5273 -9.25% -4.66% -2.98% -9.73% ATRAM Philippine Balanced Fund, Inc. -a 2.0651 -8.36% -4.21% -2.64% -9.48% First Metro Save and Learn Balanced Fund Inc. -a 2.4655 -5.84% -2.93% -1.27% -8.38% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1907 -2.85% n.a. n.a.

-8.76% NCM Mutual Fund of the Phils., Inc. -a 1.8487 -6.03% -1.89% -0.6% -8.33% PAMI Horizon Fund, Inc. -a 3.3753 -8.86% -3.74% -1.98% -10.35% Philam Fund, Inc. -a 15.1141 -8.95% -3.95% -2.05% -10.28% Solidaritas Fund, Inc. -a 1.931 -6.78% -3.78% -2.11% -8.98% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2331 -8.51% -6.33% -3.08% -11.35% Sun Life Prosperity Dynamic Fund, Inc. -a 0.839 -5.76% -5.94% -2.69% -12.07% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.8882 -10.31% -4.85% n.a.

-10.26% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.801 -12.33% -8.11% n.a.

-15.19% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7882 -12.59% -8.5% n.a.

-15.6% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03301 -13.41% -4.22% -1.6% -12.99% PAMI Asia Balanced Fund, Inc. -b $0.9256 -18.7% -2.6% -1% -13.26% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9297 -17.38% 1.24% 2.86% -18.17% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0117 -15.68% -1.93% 0.06% -15.59% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 373.11 0.19% 2.12% 2.26% -0.32% ATRAM Corporate Bond Fund, Inc. -a 1.8899 -1.99% -0.19% 0.09% 0.28% Cocolife Fixed Income Fund, Inc. -a 3.2292 -0.02% 1.91% 3.27% -0.46% Ekklesia Mutual Fund Inc. -a 2.1675 -4.24% -0.33% 0.62% -3.73% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3976 -1.79% 1.16% 1.62% -1.17% Philam Bond Fund, Inc. -a 4.1837 -6.72% -0.04% 0.56% -4.82% Philam Managed Income Fund, Inc. -a 1.3199 -0.17% 2.79% 2.79% 0.06% Philequity Peso Bond Fund, Inc. -a 3.8827 -2.46% 1.79% 2.21% -2.1% Soldivo Bond Fund, Inc. -a 1.0072 -2.84% 2.28% 1.65% -2.04% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1269 -2.73% 1.78% 2.52% -1.9% Sun Life Prosperity GS Fund, Inc. -a 1.6924 -3.27% 0.9% 1.83% -2.21% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $481.19 -1.02% 1.59% 1.79% -1.71% ALFM Euro Bond Fund, Inc. -a Є210.61 -4.33% -1.14% -0.06% -4.27% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0732 -9.86% -3.25% -0.89% -10.86% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.54% -1.85% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.8972 -14.41% -6.26% -3.55% -12.28% Philam Dollar Bond Fund, Inc. -a $2.2058 -12% -2.17% -0.12% -11.97% Philequity Dollar Income Fund Inc. -a $0.0607272 -3.58% 0.78% 1.2% -2.51% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7453 -13.51% -3.94% -1.68% -14.11% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.18 1.43% 2.27% 2.54% 0.75% First Metro Save and Learn Money Market Fund, Inc. -a 1.0638 1.02% 1.57% n.a.

0.58% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3259 1.57% 2.12% 2.47% 0.78% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0639 0.59% 1.14% n.a.

0.31% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 43.5908 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.199 -6.64% n.a. n.a.

-13.3% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.814 -18.6% n.a. n.a.

-16.08%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

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

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

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, July 5, 2022

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Coco levy fund’s value to be adjusted–COA

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE total value of the coconut levy trust fund—currently valued at P111.252 billion—could still be adjusted pending audit of other related assets, state auditors said.

In its special audit of the coconut levy assets, the Commission on Audit (COA) said the total audited amount of the assets of about $2.023 billion at current exchange rates is “still subject to further adjustments.”

The possible adjustments, the state auditors said were discussed during the 7th Trust Fund Management Committee (TFMC) meeting last May 4.

“The total net audit adjustments of P2,626,074,699.53 excluded the effects of subsequent events after the dates of the audited Statement of

Financial Position of each coco levy company and other significant audit matters,” the COA said.

The COA report was signed by Melissa Grace B. Martines, officerin-charge of Cluster 8 (Agriculture and Environment) and Mcihael R. Bacani of Cluster 4 (Industrial and Area Development).

The matters excluded from the COA’s special audit include the conversion of the P12-billion capital notes of the Philippine Deposit Insurance in United Coconut Planters Bank and the subsequent issuance of

The psychology of impulse buying and how to avoid it

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participant in a personalfinance workshop that I was conducting asked, “How do we avoid spending during a mall sale?”

“Don’t go to the mall when there’s a sale,” was my instant answer.

“But I can’t avoid the mall, that’s where I pass by when I go to work and on my way home,” she asked again.

“Then just close your eyes while walking through the mall,” I replied, which solicited several laughs from other attendees.

“Seriously,” I continued. “If you want to avoid buying on impulse, especially when there’s a sale, then you need to have self-control. And that’s something you need to practice and nurture because you can’t learn that overnight.”

Indeed, when it comes to proper money management, it usually boils down to how effective we can be at fostering good money habits. And when it comes to impulse buying, it’s all about our willpower to resist.

Why do we impulse buy?

Everyone, at one point of their lives, have made an unplanned and spontaneous purchase. The reasons may vary, but in most cases, it’s because of effective sales and marketing.

Loss aversion

STORES often play on our fear of missing out. That’s why discounts and sale promos are available only for a limited time. They use phrases such as “while supplies last” or “last few pieces remaining” to create a sense of urgency.

In most cases, what personally gets me through this situation is to imagine what happens if I don’t buy the item.

There will be that sense of missing out, of course. But apart from that, I see that my life won’t really be any worse if I don’t purchase it.

Moreover, I’ve experienced this often enough to say that the feeling of missing out doesn’t last long. I normally forget about it after a day and I move on without regret.

The desire to save

EVERYONE wants to save money.

That’s why stores emphasize the amount of savings you’ll get if you buy something now. But this is often a financial trap.

If you bought something that’s originally P1,000 for only P600, then you didn’t actually save P400.

What really happened is that you just spent P600 on something you probably don’t need.

It’s important to have self-awareness: to realize the motivation behind

Fitz Gerard Villafuerte

personal finance our desire to buy the item. If you’re buying it just because it’s on sale, then chances are, it’s just a want and not a need.

I think i need it

MARKETERS are good at making you believe that you need their product, even if you don’t. They enumerate its desirable features and all its benefits to tempt you into buying.

During these instances, it helps to remind myself that if the product is as good as it says, then a lot of people must have it. This means, I can and should ask around first if anyone I know uses it.

And if it does deliver what it says after my research, then that’s when I make a budget to buy it. Doing this has helped me avoid purchasing a lot of useless stuff.

Retail therapy

PERHAPS the only reason that’s not directly motivated by advertisements and marketing tactics is when impulse buying is done for the sake of buying, or retail therapy.

Studies have found that shopping can help ease anxiety, lessen stress and even boost creativity. In short, it just feels good to buy something.

It is a great mood booster.

Again, it is important to be aware of one’s motivation. Because if the purchase is meant to primarily be an emotional antidote, then there are definitely smarter and cheaper ways to do retail therapy.

How to avoid buying on impulse

THERE are many ways to avoid impulse buying. You should try these tips and see which ones work for you.

But the most effective way, as I’ve personally experienced, is to always be mindful of your purchasing decisions; to be sure that you are aware that you’re about to do an impulse buy and then summon the willpower to avoid it.

It will be difficult at first. But I guarantee that it gets easier after successfully resisting a few temptations. It really takes practice before you eventually gain that self-control.

Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 97th RFP program this August 2022. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

P12-billion special preferred shares to the PDIC on July 9, 2020.

The COA report added that the privatization or reacquisition from UCPB of Balmoral Resources Corp. with a net equity of P11.076 million as of December 31, 2019 by the Villar Group of Companies in 2017 and the unverified assets of United Coconut Planters International (UCPInt.) were also excluded from the special audit.

The COA said its special audit covered the Accounting and Inventory of Coconut Levy Assets as of December 31, 2020, by the Presidential Commission on Good Government (PCGG), which were submitted to state auditors last April 12, 2021.

The special audit by the COA sought the “determination” of the completeness of the accounting and inventory of the coconut levy assets, including the establishment of the “reasonableness of the asset valuation.”

The special audit also involved the tracing of the flow of the coco-

nut levy funds and compliance with pertinent laws, rules and regulations on the reconveyance of the Coconut Levy Assets and/or Fund to the Republic of the Philippines.

The COA said only 52 companies out of the 70 coconut levy companies identified by the PCGG were audited while the remaining 18 companies were not covered due to lack of documents and records.

The 18 companies that were not covered by the special audit were United Coconut Planters Life Assurance Corp., UCPB General Insurance Company Inc., Cocoplans Inc., Ultra Security Services Inc., UCPInt., United Cocoa Plantation Inc., and Cocofed Marketing Corp.

The other companies were Davao Coconut Planters Trading Inc., Zamboanga Coconut Planters Trading Inc., Leyte Coconut Planters Trading Inc., Northern Mindanao Planters Trading Inc., Visayan Coconut Planters Inc., Bicol Coconut Planters Trading Inc.and Tagalog Coconut Planters Inc.

The COA’s special audit did not also cover the following companies: Balmoral Resources Corp., UCPB Properties Macaria Homes Corp., UCPB-CIIF Finance Development Corp. and UCPB-CIIF Foundation Inc. The COA report also pointed out that three additional companies United Coconut Oil Mills Inc., United Coconut Planters Management and Philippine Coconut Producers Federation—were not audited since they were not included in the PCGG Accounting and Inventory.

However, the COA noted that in its 1986 special audit report the UNICOM and UCPMI received allocation from the CIIF amounting to P544.2 million and P10 million, respectively.

“This Report was limited only to the documents provided by the PCGG, SEC and the coco levy companies covered by the audit such as Financial Statements, General Information Sheets and other financial schedules/reports/records, confirmations letter replies from individuals/agencies/companies in-

volved and the results of inspection and appraisal conducted by the COA Technical Services Office Special Audit Team [COA TSO-SAT], with due reference to the 1986 COA Special Audit Report,” COA said.

The COA said P134.481-million worth of accounts of various companies were also note validated and verified by the audit team due to non-submission of financial reports and schedules such as ledgers, bank statements, and bank reconciliation statements.

“Based on the results of audit and after considering the effects of the foregoing audit observations and other audit limitations and exclusions as above-mentioned, the total audit adjustments to be made amounted to P2,626,074,699.53 [net] representing an overstatement in the total reported coconut levy assets of P113.878 billion as of December 31, 2020,” it said.

“Thus, the total audited amount of coconut levy assets as of even date is only P111.252 billion,” it added.

Diokno banks on Medalla to continue digitalization

By Bernadette D. Nicolas @BNicolasBM

F

INANCE Secretary and former Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expressed confidence that his successor in Central Bank will further ramp up digital payments and financial inclusion in the country.

In his first speech as finance chief at the BSP’s 29th anniversary and turnover ceremony, Diokno said he is optimistic that the game-changing reforms he implemented under his term will be sustained under the leadership of new BSP Governor Felipe M. Medalla.

Even amid the Covid-19 pandemic, Diokno said the BSP ensured the continuity of much-needed financial services and provided financial relief and incentivized lending to the public, among others.

Apart from this, he said the BSP also pursued the passage of several

bills, such as the Financial Institutions Strategic Transfer Act and the Financial Products and Services Consumer Protection Act to cushion the pandemic’s impact on different sectors and safeguard consumers from fraudulent schemes. Diokno also cited the BSP’s hand in the approval of the Gold Law, the Philippine Identification System Act, the Islamic Banking Law and the amendments to the BSP charter prior to 2020.

“The pandemic has also created exceptional opportunities to boost digital payments and financial inclusion in the country. I am confident that under Medalla, the BSP’s ‘Digital Payments Transformation Roadmap,’ will gain more headway,” Diokno was quoted as saying in a copy of his speech that was sent to the media.

Under the roadmap, the BSP aims to digitalize at least half of financial transactions in the country and onboard at least 70 percent of Filipino adults into the formal financial sys-

tem by 2023.

In February this year, Diokno said monetary authorities estimate that from 2020 until the third quarter of 2021, about 20 million unbanked Filipino adults have been on-boarded in the formal financial system through the opening of basic deposit accounts and active e-money accounts. This brought the total banked adult Filipinos to 41 million or about 53 percent of the total adult population in the country, he added.

Meanwhile, Diokno said that the pandemic also paved the way for the digitalization of various BSP products and services, including the electronic submission of bids and the conduct of online procurement activities.

Under his watch, Diokno said the BSP embarked on its version of “Build, Build, Build” as they expanded existing facilities and built new structures.

“We will soon have the new secu-

rity offices and command operation center, the BSP hub where the Metropolitan Museum used to be, the office and commercial building with parking at the PICC [Philippine International Convention Center], along with a host of other infrastructure improvements in our regional offices and branches,” he said. “Last, but not the least, we will have a new BSP complex rising on a 31.3-hectare development in New Clark City.”

He added they also pursued the “Electronic Security Modernization” project to enhance BSP security operations and unify all security systems in all BSP regional offices and branches through a centralized command operations center.

“That said, I am confident that with the leadership of your new team captain—Governor Medalla—and the Monetary Board, you will continue to deliver game-changing reforms and bring the BSP even closer to the Filipino people,” he said.

Post Office, DOF, BOC ink deal for online payment

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he Philippine Postal Corp.

(Post Office) and the Bureau of Customs (BOC) inked a landmark Memorandum of Agreement (MOA) to provide the customers a more efficient, secure, hassle free and reliable online payment system of Philippine customs duties and taxes through the Post Office website.

The online payment system for customs duties and taxes aims to eliminate fraud in compliance with Republic Act 11032 also known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

The said agreement will make the process of clearing and delivery of parcels and other mail matters faster and simpler, benefitting thousands of consumers and Philippine residents who rely on the postal service to send and receive packages from abroad but also boosting the ecommerce industry for the growth of our economy.

This undated photo courtesy of the Philippine Postal Corp. shows Postmaster General Norman N. Fulgencio (seated, left) and Customs Commissioner Rey Leonardo B. Guerrero signing an onlinepayment agreement. CREDIT: Philippine Postal Corp.

Postmaster General Norman N. Fulgencio and Bureau of Customs Commissioner Rey Leonardo B. Guerrero signed the agreement coinciding with the 125th founding anniversary of the Department of Finance.

“For the first time, in the 75 years of being a Republic, the Post Office

Digital Innovation will enhance the competitiveness of the Post Office in the local and International market,” Fulgencio was quoted in a statement as saying. “It is important for the public to understand that all mail and parcels may be subject to customs examination, duties, taxes and other fees.”

The Post Office said it has introduced the payment of customs duties and taxes through its Post Office website and mobile application launched last May 19, with no less than former President Rodrigo Roa Duterte in attendance.

“This Duterte Legacy signifies the commitment and support of the Post Office especially under the new administration of President Ferdinand Romualdez Marcos Jr. in serving the public who deserve no less than the best postal service by global standards,” Fulgencio said.

Under the agreement the Post Office and BOC shall both have access to the systems only in relation to the corresponding input of charges of duties and taxes by the BOC personnel and for the verification of payment.

A separate implementing rules and regulations shall be made in relation to collection of duties, taxes and other charges which shall form part of the agreement.

Crypto lender freezes withdrawals, eyes restructuring

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AULD, a crypto lender backed

by Coinbase Inc., said it froze withdrawals and hired advisers to explore a potential restructuring, joining rivals from Celsius Network to Babel Finance in resorting to last-ditch measures to survive the market rout.

The Singapore-based company hired Kroll as financial adviser and Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as legal advisers, Chief Executive Officer Darshan Bathija said in a blog post on Monday. All withdrawals, trading and deposits on the platform have been suspended.

Vauld’s move came less than three weeks after the company said it was processing withdrawals “as usual and this will continue to be the case in the future.” The about-face hints at the speed with which plunging prices are rippling through the sector, bringing firms ranging from Celsius to hedge fund Three Arrows Capital to their knees.

“We have always maintained a balanced and conservative approach to liquidity management. Bull and bear runs are inevitable, and we deploy fundamentally strong strategies that account for these cycles.”

Shortly after that attempt to reassure customers, Vauld announced plans to cut 30 percent of its workforce. Crypto markets showed muted reaction to Vauld’s latest announcement, with Bitcoin trading 1.3 percent lower at $19,180 at 10:30 a.m. in London on Monday. The largest cryptocurrency has tumbled more than 70 percent from its peak in November.

Founded in 2018 by Bathija and Sanju Kurian, Vauld provides crypto lending and deposit products. It raised $25 million in a Series A funding round led

by Peter Thiel’s Valar Ventures in July last year. Coinbase Ventures also par-

ticipated in the financing. Bathija said in a blog post last Monday that Vauld had seen “in excess of” $197.7 million of customer withdrawals since June 12 as market conditions deteriorated. The CEO told the BusinessLine newspaper in May that he was targeting boosting assets under management to $5 billion from $1 billion. The company is also in talks with potential investors, according to the post. It plans to apply for a moratorium with Singapore courts “so as to give us breathing space to carry out the proposed restructuring exercise,” Bathija said. Bloomberg News

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Tuesday, July 5, 2022 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Italy creates new museum for trafficked ancient artifacts

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Megan Rapinoe, 37; Dave Haywood, 40; Edie Falco, 59; Huey Lewis, 72.

HAPPY BIRTHDAY: Make changes to your living arrangements and to how you help others. Avoid taking on too much or neglecting what’s important to you. Keep your expectations and situations in perspective, and live in the moment. Use your ingenuity and creativity to develop a stellar plan to ensure your personal life is meaningful. Your numbers are 5, 13, 21, 25, 33, 42, 48.

By Frances D’Emilio ETRUSCAN jars from the 7th century B.C. are displayed in the new “Museum of Rescued Art” in Rome. AP

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The Associated Press

OME—Italy has been so successful in recovering ancient artworks and artifacts that were illegally exported from the country, it has created a museum for them.

The Museum of Rescued Art was inaugurated Wednesday in a cavernous structure that is part of Rome’s ancient Baths of Diocletian. The Octagonal Hall exhibition space was designed to showcase Italy’s efforts, through patient diplomacy and court challenges, to get valuable antiquities repatriated, often after decades in foreign museums or private collections.

Exhibits in the new museum will change every few months as the objects on display return to what experts consider their territory of origin, many of them places that were part of ancient Etruscan or Magna Grecia civilizations in central or southern Italy. The inaugural exhibit revolves around some 100 of 260 artifacts recovered by the nation’s paramilitary Carabinieri art squad from the United States and brought back to Italy in December 2021.

The pieces on display, which were found during clandestine digs and illegally exported, include exquisitely carved Etruscan figurines and imposing painted jars from several centuries B.C. The items previously were held by museums, auction houses and private collections.

The new Rome museum is exhibiting objects “never before seen in Italy,’’ said Massimo Osanna, director general of Italy’s state museums. In his previous role, Osanna had long been in charge of reviving the fortunes of Pompeii, the ancient Roman city near Naples, one of the world’s most famed archaeological cites that itself was heavily looted by antiquities thieves of past generations.

The recently recovered antiquities are from before the Roman era, dating back to the 8th to 4th centuries B.C. Many of them came from the area near modernday Cerveteri, which is awash with remnants of the flourishing Etruscan civilization in west-central Italy.

One particularly striking piece, from the 7th century B.C., is a ceramic jar, painted red on white and towering more than a meter (40 inches) high.

Decorated with images of horses and cats, it depicts the mythological scene of the blinding of Polyphemus, a man-eating one-eyed creature.

The choice of the jar’s decoration probably indicates that the Etruscan elite were bilingual and “fascinated with Greek myth,’’ Osanna told The Associated Press in an interview. They were “Etruscan

ARIES (March 21-April 19): Hidden matters will be confusing. When in doubt, ask questions, find out where you stand and find a way to move forward. Don’t waste valuable time on nonsense and other people’s poor judgment. Take physical action to find out what works for you. HHH

TAURUS (April 20-May 20): Make changes if you aren’t happy with the way things are going. Keep your emotions hidden, and face challenges with an open mind. Take the high road and act quickly to avoid a complicated situation. HHHHH

GEMINI (May 21-June 20): Satisfy your thirst for knowledge. Researching and talking to experts will convince you to rethink your strategy. Take on less and focus more on doing the best job possible; progress will be yours. Don’t let an emotional situation lead you astray. HHH

CANCER (June 21-July 22): Emotions will surface, putting you in an awkward situation.

Don’t jump to conclusions or act in haste.

Take the time to find out the truth, and be realistic about handling unstable conditions. Trust your instincts.

HHHH

heroes that identified with Greek heroes,” he said.

Italian Culture Minister Dario Franceschini explained the decision to opt for a series of rotating exhibits in the new museum instead of establishing a permanent collection of rescued art. “We thought it’s right to have the pieces return to the places where they were stolen from,’’ Franceschini said.

In some cases, experts don’t know the exact original location of the antiquities, underlining the irreparable damage done when archaeological treasures are clandestinely snatched away. Pieces with unknown origins will be returned to the general geographic area.

The exhibition space is part of the National Roman Museum. Its current exhibit runs until October 15, then the museum will display a different batch of recovered antiquities.

Among the show-stoppers at the current exhibit of “rescued art” are two terra cotta heads, sliced vertically in half, part of a group of Etruscan votive pieces from the 4th-to-3rd centuries B.C. Another striking piece is a well-preserved, intricately decorated Etruscan funeral box, decorated with images of a warrior, horse and a cat.

While Italy proudly boasts of regaining some 3 million artifacts and artworks since a special

Safeguarding of Cultural Heritage unit of the Carabinieri was established in 1969, it is also trying to inspire countries to give back ancient pieces that are identified with other cultures.

Earlier this month, Italy returned to Athens a frieze fragment of the Parthenon that had been in an archaeological museum in Sicily. Franceschini, Italy’s culture minister, contended that the so-called “Fagan fragment” was in Italy legitimately but said his country wanted to “affirm the principle of the restitution of cultural wealth to reconnect artistic historical patrimony with the places and peoples of origin.”

Some treasures have so far eluded Italy’s efforts to obtain them. Carabinieri Commanding Gen. Teo Luzi spoke wistfully at the new museum’s debut of hopes that Italy’s would one day reclaim “Victorious Youth,” a footless bronze statue that was found by an Italian fishing boat in the Adriatic Sea in 1964. It was eventually purchased by the J. Paul Getty Museum in California.

In 2018, Italy’s highest court ruled that the museum had to surrender the statue to Italy. But the museum, insisting that the statue was fished out of international waters, has challenged the order.

FRANCESCO SPORTELLI CONTRIBUTED FROM ROME

CCP presents first solo of Clint Rey Policarpio THE Cultural Center of the Philippines presents Daloy, the first solo exhibition of artist Clint Rey Policarpio.

The venue grant exhibition, which was originally scheduled in 2020 but was postponed because of the Covid-19 pandemic, is ongoing until July 24 at the CCP’s Bulwagang Carlos V. Francisco (Little Theater Lobby).

Daloy is a collection of Policarpio’s works from 2012 to the present, which depicts an understanding of a lively Filipino community, with its rich history, nature, customary beliefs, and personality. Filipino art and culture are huge influences in Policarpio’s works, where concepts manifesting the life of its

people and their surroundings flourish and continue to evolve. The impact of temporal experiences, of what’s seen and what’s felt, forms an inspiration for his lasting composition—detailing a scenic impression of places, events, and Filipino practices in a purely panoramic view, leaving more to the imagination.

Clint Rey Policarpio (b. 1988) is a visual artist and muralist based in Valenzuela City. He’s participated in mural painting events, group exhibitions, and numerous art competitions.

Policarpio has been awarded the Grand Prize in competitions such as the Shell National Students Art

Competition (Watercolor category, 2013), UST Annual On-the-Spot Painting Competition (2013), the Blood Center of QC Art Competition (2013), and the PNOC Painting Competition (2013).

He was also a finalist in the 2015 Metrobank Art and Design Competition, the runner-up in the 2013 DFA Aseana Art Competition, and was given 1st Honorable Mention in the FEU On-the-spot Painting Competition in 2014.

More information on Daloy can be found at bit. ly/CCPdaloy. Exhibition hours are from Tuesday to Sunday, 10 am to 6 pm, and are extended until 9 pm on evenings with shows at the CCP Main Theater.

LEO (July 23-Aug. 22): Look at every aspect of a situation before making a move.

Pay more attention to what you want and need in your life. Personal growth will offer perspective regarding what’s right and best for you. Build a secure future. HHH

VIRGO (Aug. 23-Sept. 22): You’ll have splendid ideas, but don’t forget to share your plans with the people your decisions will affect. Being open about the decisions you make will decrease complaints. Don’t take a risk when it comes to your reputation or health. HHH

LIBRA (Sept. 23-Oct. 22): Look for an opportunity to learn something new.

Educational pursuits can help you choose a direction that you find interesting, which will improve your life. Financial gain and self-improvement look promising. HHH

SCORPIO (Oct. 23-Nov. 21): Participate in something that intrigues you, but consider your motives and goals before you take on responsibilities. Refuse to let other people’s troubles drag you down. Handle matters efficiently, and get back to what makes you feel alive. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Be upfront when dealing with matters at home and work. Give a precise and in-depth analysis of situations and what you plan on doing next.

Concentrate on giving yourself the time and space to engage in something you enjoy. HH

CAPRICORN (Dec. 22-Jan. 19): Put your thoughts, ideas and energy into improving your living arrangements and daily routine. Simplify your life by creating an easygoing pace that allows you time to discover possibilities and pursuits that make you happy. HH

AQUARIUS (Jan. 20-Feb. 18): Pay attention to the dynamics of meaningful relationships.

Sharing your intentions and long-term plans will help you gain perspective regarding how to stabilize your life and find the happiness you desire. Romance is in the stars. HHHHH

PISCES (Feb. 19-March 20): Focus on earning and handling money. Look for purpose in what you do and rewards for what you achieve. Getting paid for doing something you enjoy will make your life easier. HHH BIRTHDAY BABY: You are sensitive, caring and stubborn.

You are aggressive and avant-garde.

‘double takes’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Practice hooks and jabs 5 “Don’t be so loud!”

8 Dissertation defenses, usually 13 Helper 14 Second birthday gifts, often 16 Lite, in a way 17 Substandard sports residence?

19 Good name for a professional mover?

20 Slithery fish 21 Name hidden in “macaroni and cheese” 23 Baby horse 24 Something to leap over 27 Plentiful supply of a tavern drink?

29 Exasperated parent’s reiterated refusal 31 Arteries from left ventricles 32 Million: Prefix 33 Snide grin 36 Part of a union meeting in Santa’s workshop?

41 Battery end 42 More than want

45 Achieve 49 Split up, like a group 52 Paver’s delivery vehicle?

55 Edible Thanksgiving decorations 56 Fail to mention 57 Anger 58 Head gesture 59 Bellybutton 61 Joint of concern to an orthopedist?

66 Letter-shaped dress style 67 Unruly child 68 Currency that replaced the peseta 69 Is ahead 70 Wonder 71 Doctor’s order, maybe DOWN 1 Took a chair 2 Pizza order 3 Computing pioneer Lovelace 4 Like college courses for the illprepared 5 Pirated or pocketed 6 Carpool lane abbr.

7 “Laughing” beast 8 Aged

9 Worker who may be above doing some things 10 Not sinking 11 “I forgot the lyrics” syllables 12 Art Deco and Gothic Revival 15 Thin 18 Kept in reserve 22 Separately 24 That fellow 25 Utilize, to the unpretentious 26 Anger 28 Cunning Norse god 30 Norwegian Nobel Institute’s city 34 ___ school (future dr.’s academy) 35 Chilled or frosted 37 Like a just ruling 38 Boredom 39 Within fiscal constraints 40 At hand 43 Finish 44 Common deg. for an orthodontist 45 Missing a key?

46 Food wrapped in a corn husk 47 Potential obstacle for a crossword solver

48 50 51 53 54 60 62 63 64 65

Go to Set on fire With little delay Clawed crustacean Actress Knightley French for “the” What a bill may become Cry’s partner US tax agency Houseplant’s home

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, July 5, 2022

B5

‘Minions’ set box office on fire with $108.5 million debut

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By Lindsey Bahr The Associated Press

AMILIES went bananas for Minions this weekend at the movie theater. Minions: The Rise of Gru brought in an estimated $108.5 million in ticket sales from 4,391 screens in North America, Universal Pictures said Sunday. By the end of the Monday’s July Fourth holiday, it will likely have earned over $127.9 million.

The film is on track to become one of the biggest openings ever for a July Fourth holiday weekend, a record previously held by Transformers: Dark of the Moon which made $115.9 million in its first four days in 2011.

Including international showings, where Minions: The Rise of Gru is playing in 61 markets, its worldwide gross is sitting at $202.2 million through Sunday.

“It’s a tremendous debut,” said Jim Orr, Universal’s president of domestic distribution. “It’s playing very broadly across North America. Every single market doing extraordinarily well.”

This is just the latest in a string of successes for Universal’s family releases, including Sing 2, which has grossed over $406 million since opening in December, and The Bad Guys, which has made over $243 million.

Minions: The Rise of Gru serves as further proof that family audiences are willing to go back to the movie theater.

“Families feel very comfortable bringing all their kids to the theater,” Orr said. “These results speak for themselves.”

Minions 2 attracted all ages to the theater, even the very young. According to PostTrak surveys, 12 percent were under the age of 10.

“For many months there was this idea that family audiences were not going to come back to the theater.

We can put that to rest,” said Paul Dergarabedian, the senior media analyst for comScore.

The spinoff of the popular Despicable Me series was delayed two years because of the pandemic. The sequel to the 2015 film Minions was originally slated for a July 2020 release.

While many other animated family films opted for streaming or hybrid releases, Minions, much like Top Gun: Maverick, stayed the course and waited for an ideal time to launch in theaters only. And as with Top Gun, the wait, it seems, was worth it.

“This became an event. It was a holiday weekend,

the release date was perfect, the marketing was spot on,” Dergarabedian said. “And everyone knew this was going to be in theaters only.”

The voice cast features Steve Carell, reprising his role as Gru, Alan Arkin, Michelle Yeoh and Julie Andrews as Gru’s mother. Critics were mixed to positive (it currently has a 72 percent on Rotten Tomatoes) but audiences were more enthusiastic, giving the Gru origin story an “A” CinemaScore.

Universal and Illumination have had enormous success with the five Despicable Me movies and spinoffs, which date back to 2010 and have earned over $3.7 billion at the global box office.

In second place was Top Gun: Maverick, which continues to deliver six weeks in, adding another $25.5 million to its total, which has already surpassed $1 billion. The Paramount Pictures film is still playing in 3,843 locations.

Warner Bros.’ Elvis took third place, down only 39 percent in its second weekend in theaters. The Baz Luhrmann film grossed an estimated $19 million through Sunday, bringing its domestic total to $67.3 million.

Fourth and fifth place went to Universal titles as well, with Jurassic World: Dominion picking up another $15.7 million and the horror movie The Black Phone adding $12.3 million through Sunday.

Disney’s Lightyear, meanwhile, tumbled further in its third weekend with an estimated $6.5 million.

By Monday, that total should raise to $8.1 million bringing its cumulative earnings to $106.9 million.

Bleecker Street released Mr. Malcolm’s List this weekend on 1,384 screens in the US and Canada. The Regency-era comedy of manners stars Freida Pinto and Zawe Ashton as friends looking to get back at a picky bachelor. The studio estimates that the film will have $851,853 by end of Sunday and over $1 million by end of Monday.

Audiences are also still catching up with A24’s Everything Everywhere All at Once, which added an estimated $552,000 from 607 screens, in spite of the fact that it’s also available to rent on demand. The studio’s newer title, Marcel the Shell With Shoes On, expanded to 22 screens this weekend and is expected to earn about $308,000 by the end of Monday.

According to comScore, the weekend as a whole will go down as one of the biggest of the pandemic era.

And the momentum is expected to continue with the release of Marvel’s Thor: Love and Thunder next week.

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

1. Minions: The Rise of Gru, $108.5 million 2. Top Gun: Maverick, $25.5 million 3. Elvis, $19 million 4. Jurassic World: Dominion, $15.7 million 5. The Black Phone, $12.3 million 6. Lightyear, $6.6 million 7. Mr. Malcolm’s List, $851,853 8. Everything Everywhere All at Once, $551,974 9. Doctor Strange in the Multiverse of Madness, $390,000 10. JugJugg Jeeyo, $318,000. n

Celebrating PHL Independence in US, Canada, Japan GMA Pinoy TV gave its all-out support to the festivities of Filipino communities in different parts of the world as the network’s flagship international channel returns to live events this year to celebrate the 124th Philippine Independence Day. Last June 5, the string of exciting events began in no less than the Big Apple where “2022 Philippine Independence Anniversary Commemoration in New York,” touted as the biggest Philippine Independence Day Celebration (PIDC) parade outside of the country, was organized by the Philippine Independence Day Council Inc. (PIDCI) with GMA Pinoy TV and DISH as partners. GMA Pinoy TV had its own float during the parade with US-based Pinoy celebrities.

Also in the US, the Filipino-American Community of Colorado presented the 27th Annual Philippine Festival last June 11 to 12 with the theme “Lift Up. Elevate.”

Filipinos in New York can continue watching the network’s shows on GMA Pinoy TV through partner-carriers DIRECTV, DISH, Optimum, RCN, Spectrum, and Verizon. GMA Pinoy TV is likewise available in Colorado through DIRECTV, DISH, Spectrum, and Xfinity.

On the other side of the globe, GMA actress Andrea Torres joined Pinoys in Japan

ANDREA TORRES cheers on Pinoys in Japan.

during the culmination of Philippine Expo 2022 held last June 12 at the Ueno Onshi Park, Tokyo.

One of the highlights of the three-day event was GMA Pinoy TV’s special segment where the Pinoys abroad gamely showed their dance moves and participated in the #StrongerTogether Dance Challenge. Despite afternoon showers, tens of thousands still flocked to the venue and waited to see Andrea’s sizzling song and dance numbers. She also got to meet some of the Filipinos abroad at the GMA Pinoy TV booth, in partnership with I-Remit via carrier Mavshack.

FILIPINOS parade for independence in New York.

Meanwhile, in Canada, GMA Pinoy TV joined the consecutive PIDC events in Vancouver, Calgary and Toronto, as well as to celebrate the Philippine Heritage Month in June.

The Philippine Consulate in Vancouver’s Proudly Philippines-Philippine Food and Travel Fair was held last June 11 at Robson Square in Downtown Vancouver. The GMA Pinoy TV team hosted segments for a tinikling performance and a Tinikling 2.0 Dance Challenge, which were a huge hit for the Pinoy community in Vancouver. The Philippine Canadian Charitable Foundation’s Pinoy Fiesta

DANCES from the highlands come to Vancouver.

and Trade Show sa Toronto 2022 last June 12 also marked the return of its in-person event.

During the program, GMA Pinoy TV held the #StrongerTogether dance challenge with the Zumba ladies and had a raffle draw for the attendees.

These were just some of the exciting festivities where GMA Pinoy TV served as the exclusive media partner, as Filipino communities abroad get #StrongerTogether and festivals return to their pre-pandemic glory.

“After two years of holding virtual events at the height of the pandemic, we are as excited as

our beloved Kapuso abroad now that physical events are starting to become possible again.

We at GMA Pinoy TV extend our appreciation to all the Filipino communities for their unceasing dedication in bringing Filipinos together to celebrate our colorful heritage, and for their continued partnership with us. This only goes to show that Filipinos are truly stronger when they are together, no matter the circumstance,” said GMA International first vice president and head Joseph T. Francia.

More information can be found at www. gmanetwork.com.

Channeling the former First Lady

FORMER First Lady of the Philippines Imelda Romualdez Marcos just turned 93 over the weekend, and perhaps the best gift she received was to witnessing the recent inauguration of her only son Ferdinand Marcos Jr. as the new president of the country.

Marcos Jr. is now the 17th President of the Republic of the Philippines and Mrs. Marcos is so blessed and privileged to live this long to see two members of her immediate family sworn in as head of state.

Actress Ruffa Gutierrez also celebrated her 48th birthday very recently and she said that one birthday gift that she will long cherish is the opportunity the bosses of Viva Films gave her to play the iconic Imelda Marcos in Maid in Malacañang, now filming with director Darryl Yap calling the shots.

Gutierrez recalled that she was 18 years old when she first met Mrs. Marcos. “It was during Madame’s birthday at The Manila Hotel and we were asked to dress like her as a sort of tribute to her being a style icon. I remember she was radiant throughout the

party and I had the chance to ask for a photo with her.

I was starstruck, and I became an instant fan right there and then.”

Gutierrez never imagined that one day, she will get to portray Mrs. Marcos in a movie. “She fascinates me and she continues to do so. I have watched a lot of documentaries about her, I’ve read a lot of articles and books about her.... So when I got a call asking if I’d like to be part of this new movie, of course I said yes immediately.”

For more than a week now, Gutierrez has been channeling Imelda Marcos—she thinks about her, tries to talk and move like Mrs. Marcos, and absorbs everything about her. “It is not easy playing a real person, so I have to give my all in making sure that my performance in the film will give justice to who she is and what she represents.”

The movie will have Cesar Montano, Cristine Reyes, Diego Loyzaga, Ella Cruz joining Gutierrez to play the members of the First Family during their last 72 hours in 1986 before they flew to Hawaii. Giving life to the maids in Malacañang are Elizabeth Oropesa, Karla Estrada and Beverly Salviejo, all known supporters of the Marcos family.

While writing this, we also thought of Tessie Tomas, who gloriously played Imelda Marcos in the 1988 six hour drama A Dangerous Life, written by David Williamson, directed by Robert Markowitz, and shot in the Philippines.

Tomas received a nomination from the 1989 International Emmy Awards in the best supporting actress category for her performance in A Dangerous Life, a first for any Filipino actor. A respected host and an award-winning stand-up comedian, Tomas later

RUFFA GUTIERREZ (left) and Tessie Tomas (right) playing Imelda Marcos.

on created the character Meldita in her many shows here and abroad.

“I had a wonderful time playing both Mrs. Marcos and Meldita in my career. She is...in a league of her own. I won’t ever get tired of channeling Mrs. Marcos when I am given the chance to create my new scripts for Meldita,” shared Tomas, who incidentally just flew into the country from Isle of Man, where she is based now.

“I will be doing a drama series for Dreamscape

and I am very excited about this new project. During the pandemic, I have been quietly praying for opportunities to act again whether on film or TV, and my prayer has been answered. I will be part of Dirty Linen and I have a wonderful, wonderful role in this teleserye!” she gushed.

Tessie Tomas and Ruffa Gutierrez are two women who have gone through the many ups and downs of loving and living, but who continue to inspire many with their talent and grit.

B6 Tuesday, July 5, 2022

NPF, DENR mark PH Environment Month GBP, CANVAS promote reading literacy

NEW LEARNING MATERIALS. Grade 1 students from Pinugay Elementary School in Baras, Rizal eagerly received the books created by CANVAS and distributed by GBP through subsidiary, PHRI.

G

LOBAL Business Power Corporation (GBP), in collaboration with the Center for Art, New Ventures and Sustainable Development (CANVAS), distributed books to various public elementary and high school students in Iloilo, Aklan, Cebu and Rizal.

Following the two organization’s successful business partnership during the height of the pandemic, a new endeavor was forged as GBP and CANVAS share the same passion and commitment in educating the youth, most especially in the far-flung areas. A total of 800 books on patriotism, art history and fighting fake news and disinformation, crafted by CANVAS, were distributed to GBP’s scholars in the said locations.

“Together with CANVAS, we are arming our supported GBP scholars in Iloilo, Aklan, Cebu and Rizal with educational materials that they can use to gain a new

understanding of these timely and relevant topics and at the same time, foster creativity within themselves”, said GBP President Jaime T. Azurin.

GBP, a wholly owned subsidiary of MERALCO PowerGen (MGen), is a leading power generation company in Visayas and Mindanao that aims to provide adequate, reliable and sustainable energy.

CANVAS, on the other hand, is a non-profit organization that works with the creative community to promote children’s literacy, explore national identity and deepen public appreciation for Philippine art, culture and the environment.

First to be given out were the books intended for the Grades 1 to 12 scholars of GBP in Iloilo and Aklan. Organized with a brief program, the book distribution was held at the GBP Institute for Energy for Iloilo

and at the Panay Power Corporation plant site for Aklan. Different sets of books were provided to those in the elementary and high school levels, respectively. Meanwhile, in Cebu, the books were handed to the students along with provision of the annual benefits they receive as scholars of the Company to minimize exposure amidst the COVID-19 virus.

To supplement the Company’s efforts in assisting GBP’s host barangay in Baras, Rizal, the books were donated to Pinugay Elementary School. A storytelling session was held prior to the turnover of the educational materials to encourage the kids in making reading a habit. GBP, through its subsidiary PH Renewables, Inc. (PHRI), is set to finish the construction and start the commercial operations of its 75 MWac solar plant situated in Baras, Rizal by the latter part of the year.

T

O celebrate this year's Philippine Environment Month, the Nayong Pilipino Foundation (NPF) has partnered with the Department of Environment and Natural Resources (DENR) in a tree planting activity on June 23 at the NPF 9.5-hectare property, the Entertainment City, in Parañaque.

Employees of the NPF, DENR’s Biodiversity, and Forest Management Bureaus have planted more than 100 trees with different saplings from Ipil-Ipil, Tindalo, Yakal, Makaasim, Phil Ash, Lipote, Palawan Cherry, Dita, Batino to Bignay.

Advancing this year’s theme – “Aksyon Para sa Natatanging Mundo” highlights the collaborative efforts between the two agencies to provide a healthy and breathable environment for future generations. The said planting activity coincided with Proclamation No. 237, declaring the month of June as Philippine Environment Month, aimed at instilling environmental awareness and concern among the country’s various sectors.

Speaking on behalf of NPF Executive Director Gertie Duran-Batocabe, NPF Deputy Executive Director for Marketing and Operations Dr. Jovertlee C. Pudan emphasized the Foundation's advocacy for a greener environment and nature conservation through Project Sambayanihan.

“This initiative aims to transform this 9.5-hectare property into an urban green space by planting more than 400 trees this year by promoting a participatory approach through partnerships with other government

agencies,” he said.

Last March, NPF partnered with the Armed Forces of the Philippines in planting flowering trees in honor of the Philippines Women’s Month. In May, NPF teamed up with the Department of Health to promote Mental Health awareness by creating greener space in the Metro Manila.

An Environmental Planner, Dr. Pudan reiterated that to make real change, we should plant more trees.

“When we conserve the environment today, the future generations will be able to live healthier lives,” he said.

PHINMA Education serves the underserved for the past 18 years allow, while RadLearning students will continue to be home-based.

High board passing results across schools

OWING to its mission to serve the underserved, PHINMA Education schools do not have entrance tests to make it easy for students to enroll and get the quality education they deserve.

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ORE than a decade ago, Elbert Kay Serrano wanted to be a nurse. His parents, a farmer and a canteen helper, didn’t have the resources to help him finish college. Elbert worked any job he could get — a caregiver, a service crew at a fast food chain, a clerk, a helper-while taking up nursing at PHINMA Araullo University.

Elbert is just one of the thousands of underserved Filipinos whose chances of getting into college and finishing their degree is hampered by their circumstances.

“Getting into college and graduating can often be prohibitively expensive for poor families,” said Dr. Chito B. Salazar, PHINMA Education President and CEO. “This barrier to entry is one of the many challenges that we are tackling because we believe that every Filipino deserves to have quality education.”

Recent data from the Commission of Higher Education (CHED) shows that only 33% of college-aged Filipinos are currently enrolled. PHINMA Education, by intent and design, has been addressing this issue for the past 18 years. The education network, which now operates 10 schools in the Philippines and Indonesia, prides itself on crafting programs and interventions that make it easy for underserved students to get the quality education they want and deserve.

To date, PHINMA Education has over 95,000 students across its ten campuses in the Philippines and Indonesia. Of this number, around 60% are benefiting from the Hawak

Kamay Scholarship program that provides discounts of up to 75% on enrollment fees.

There are no entrance exams to make entry less prohibitive. It also monitors Studentsat-Risk (StARs) and conducts home visits to help students return to school.

In 2021, PHINMA Education launched KANLUNGAN, a free individual therapy program for both employees and students.

“We don’t stop at simply giving out scholarships.

We make sure that their mental and emotional needs as first-generation college students are also taken care of,” Dr. Salazar said.

Learning strategies that adapt to changing needs

“WHEN the pandemic started, we resolved that nothing should stop our students from learning and we prepared models that would provide them the flexibility they require in order to learn unhampered,” Dr. Salazar explained. “Our models proved to be so successful that we are now making them a permanent option for our schools.”

The two models, Flex Learning and Remote and Distance (RAD) Learning, relied on printed activity sheets combined with strong teacher and peer support through a mobile data allocation that renewed every month. At no additional cost, students were able to access Facebook Messenger and G-suite tools to do their course work and attend webinars. FlexLearning students will have in-person classes once regulations

PHINMA Education has a 79% board passing rate for first-time takers. Even better, in the recently concluded Nursing Licensure Examination (NLE), the five PHINMA Education schools with firsttime takers averaged 97%.

PHINMA Education creates models that help students learn unhampered.

These efforts have shown great results with schools under the network garnering 92.54% overall passing rate in the NLE and 79% passing rate for first-time takers in other board examinations.

From 2004 to May 2022, the network has had 122 board exam topnotchers in the Philippines across courses such as Nursing, Education, Criminology, Electrical Engineering, Medical Technology, and Medicine.

Affordable education towards employability

MORE than 70% of PHINMA Education graduates are employed within a year after graduation, a percentage expected to increase as the economy bounces back from the COVID-19 pandemic.

PHINMA Education’s placement office, Alumni and Corporate Engagement (ACE), currently has 259 active companies in various industries that provide hiring, internship, and training for its students. Aside from online career fairs, graduating students go through mock interviews and feedback sessions with their teachers to prepare them for actual job interviews. Students also attend a series of webinars and career talks with industry partners.

For more than two decades, PHINMA Education has shown that quality, private education does not need to be expensive to be effective.

Through strategic partnerships with companies and industries, PHINMA provides students with assistance and resources to help them land jobs after graduation.

TOAST TO GOOD HEALTH. On its 50th year, Alaska Milk Corporation (AMC) continues to provide affordable nutrition for every Filipino family with a World Milk Day celebration at Kartilya ng Katipunan in partnership with the City Government of Manila. The event is led by AMC officers Customer Supply Chain Director Gary Siu and Corporate Affairs Director Maria Angela Esquivel. Manila City Government officers led by Executive Assistant to the Mayor on Special Projects Architect Joy Dawis-Asuncion, Registered Nutritionist-Dietrician Mrs, Jhoanne Cruz-Balili and District 6 Barangay officers also attended the event.

Avon and Hulyen advocate Beauty for All

A

VON Philippines, in partnership with comic artist Hulyen (@hulyen), produced a three-part comic series that illustrates Beauty for All, Avon’s advocacy that puts the spotlight on democratic beauty not just for women, but for everyone— regardless of sexual orientation, gender identity, and/or expression.

Each strip depicts issues faced by the LGBTQIA+ community. The comics were distributed to hundreds of thousands of Avon representatives in more than 190 branches across the Philippines, encouraging them to learn more and understand better the LGBTQIA+ community.

In this scene, an individual struggles to remember the various labels in the queer spectrum. A friend reassures her that it’s important to be open about learning new things.

It also provides context that Sexual Orientation, Gender Identity and Expression (or SOGIE, for short) goes beyond just the girl, boy, bakla, and tomboy that most Filipinos are more familiar with.

Another comic depicts a queer person

who “magically” transforms into her true self when she’s with her friends. This has become a common experience with LGBTQIA+ individuals all over the world. According to Stonewall, only 46 to 47% of queer-identifying individuals feel open and confident to share their sexual orientation or gender identity with their families. Likewise, allies of the community should help create safe spaces where queer individuals can open up and express their true selves.

The last comic visualizes Avon’s commitment when it comes to promoting Beauty for All. It depicts an Avon representative who managed to provide quality beauty and self-care products for her customers, allowing them to truly enjoy their version of beauty no matter what their SOGIE. Max Closa, Avon Philippines’ Business Development Manager, welcomes Avon’s efforts to rally behind its employees in causes that involve them. “I'm so proud and thankful to be a part of a company who supports the LGBTQIA+ community. The changes might be gradual but it's already a huge step for us,” Closa shares.

In line with the advocacy, Avon Philippines also recently held a SOGIE Sensitivity Seminar for Associates at their main office.

Miss Trans World 2020 Mela Habijan spoke at the event where she discussed SOGIE, the different issues the community is facing, and how one can be a better ally. The trans beauty queen, host, and actress also made a SOGIE explainer video.

To further extend its efforts in inclusivity, Avon Philippines also supported members of Manila’s Drag community with various products like the Limitless collection (the first gender-free intimate apparel in the country). The company also reached out to the Home for the Golden Gays, which provides support and care facilities for elderly LGBTQIA+ people.

Visit www.avon.ph or like and check out Avon Philippines on Facebook and Instagram.

World Features BusinessMirror

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

Tuesday, July 5, 2022

B7

Long, moderate and painful: What next US recession may look like Ukrainian platoon commander Mariia talks to her soldiers in their position in the Donetsk region, Ukraine, on July 2, 2022. Ukrainian soldiers returning from the frontlines in eastern Ukraine’s Donbas region describe life during what has turned into a grueling war of attrition as apocalyptic. Mariia, 41, said that frontline conditions may vary depending on where a unit is positioned and how well supplied they are. AP/Efrem Lukatsky

‘Hell on earth’: Ukrainian soldiers describe condition in eastern front

By Francesca Ebel The Associated Press

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AKHMUT, Ukraine—Torched forests and cities burned to the ground.

Colleagues with severed limbs.

Bombardments so relentless the only option is to lie in a trench, wait and pray.

Ukrainian soldiers returning from the front lines in eastern Ukraine’s Donbas region— where Russia is waging a fierce offensive— describe life during what has turned into a grueling war of attrition as apocalyptic.

In interviews with The Associated Press, some complained of chaotic organization, desertions and mental health problems caused by relentless shelling. Others spoke of high morale, their colleagues’ heroism, and a commitment to keep fighting, even as the better-equipped Russians control more of the combat zone.

Lt. Volodymyr Nazarenko, 30, second-incommand of the Ukrainian National Guard’s Svoboda Battalion, was with troops who retreated from Sievierodonetsk under orders from military leaders. During a monthlong battle, Russian tanks obliterated any potential defensive positions and turned a city with a prewar population of 101,000 into “a burnt-down desert,” he said.

“They shelled us every day. I do not want to lie about it. But these were barrages of ammunition at every building,” Nazarenko said. “The city was methodically leveled out.”

At the time, Sievierodonetsk was one of two major cities under Ukrainian control in Luhansk province, where pro-Russia separatists declared an unrecognized republic eight years ago. By the time the order to withdraw came on June 24, the Ukrainians were surrounded on three sides and mounting a defense from a chemical plant also sheltering civilians.

“If there was a hell on Earth somewhere, it was in Sievierodonetsk,” Artem Ruban, a soldier in Nazarenko’s battalion, said from the comparative safety of Bakhmut, 64 kilometers (40 miles) to the southwest of the since-captured city. “The inner strength of our boys allowed them to hold the city until the last moment.”

“Those were not human conditions they had to fight in. It is difficult to explain this to you here, what they feel like now or what it was like there,” Ruban said, blinking in the sunlight. “They were fighting until the end there. The task was to destroy the enemy, no matter what.”

Nazarenko, who also fought in Kyiv and elsewhere in the east after Russia invaded Ukraine, considers the Ukrainian operation in Sievierodonetsk “a victory” despite the outcome. He said the defenders managed to limit casualties while stalling the Russian advance for much longer than expected, depleting Russia’s resources.

“Their army incurred huge losses, and their attack potential was obliterated,” he said.

Both the lieutenant and the soldier under his command expressed confidence that Ukraine would take back all occupied territories and defeat Russia. They insisted morale remained high. Other soldiers, most with no combat experience before the invasion, shared more pessimistic accounts while insisting on anonymity or using only their first names to discuss their experiences.

Oleksiy, a member of the Ukrainian army who started fighting against the Moscow-backed separatists in 2016, had just returned from the front with a heavy limp. He said he was wounded on the battlefield in Zolote, a town the Russians also have since occupied.

“On the TV, they are showing beautiful

pictures of the front lines, the solidarity, the army, but the reality is very different” he said, adding he does not think the delivery of more Western weapons would change the course of the war.

His battalion started running out of ammunition within a few weeks, Oleksiy said.

At one point, the relentless shelling kept the soldiers from standing up in the trenches, he said, exhaustion visible on his lined face.

A senior presidential aide reported last month that 100 to 200 Ukrainian troops were dying every day, but the country has not provided the total number killed in action.

Oleksiy claimed his unit lost 150 men during its first three days of fighting, many from a loss of blood.

Due to the relentless bombardments, wounded soldiers were only evacuated at night, and sometimes they had to wait up to two days, he said.

“The commanders don’t care if you are psychologically broken. If you have a working heart, if you have arms and legs, you have to go back in,” he added.

M a r i i a , a 4 1 - y e a r- o l d p l a t o o n commander who joined the Ukrainian army in 2018 after working as a lawyer and giving birth to a daughter, explained that the level of danger and discomfort can vary greatly depending on a unit’s location and access to supply lines.

Front lines that have existed since the conflict with pro-Russia separatists began in 2014 are more static and predictable, whereas places that became battlegrounds since Russia sent its troops in to invade are “a different world,” she said.

Mariia, who refused to share her surname for security reasons, said her husband is currently fighting in such a “hot spot.” Everyone misses and worries about their loved ones, and though this causes distress, her subordinates have kept their spirits high, she said.

“We are the descendants of Cossacks, we are free and brave. It is in our blood,” she said. “We are going to fight to the end.”

Two other soldiers the AP interviewed— former office-workers in Kyiv with no prior battle experience—said they were sent to the front lines in the east as soon as they completed their initial training. They said they observed “terrible organization” and “illogical decision-making,” and many people in their battalion refused to fight.

One of the soldiers said he smokes marijuana daily. “Otherwise, I would lose my mind, I would desert. It’s the only way I can cope,” he said.

A 28-year-old former teacher in Sloviansk who “never imagined” he would fight for his country described Ukraine’s battlefields as a completely different life, with a different value system and emotional highs as well as lows.

“There is joy, there is sorrow. Everything is intertwined,” he said.

Friendship with his colleagues provides the bright spots. But he also saw fellow soldiers succumbing to extreme fatigue, both physical and mental, and displaying symptoms of PTSD. “It’s hard to live under constant stress, sleep-deprived and malnourished. To see all those horrors with your own eyes—the dead, the torn-off limbs. It is unlikely that someone’s psyche can withstand that,” he said.

Yet he, too, insisted that the motivation to defend their country remains.

“We are ready to endure and fight with clenched teeth. No matter how hard and difficult it is,” the teacher said, speaking from a fishing store that was converted into a military distribution hub. “Who will defend my home and my family, if it is not me?”

Valerii Rezik contributed to this story

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By Rich Miller

ecessions, like unhappy families, are each painful in their own way.

And the next one—which economists see as increasingly possible by the end of next year—will probably bear that out. A US downturn may well be modest, but it might also be long.

Many observers expect any decline to be a lot less wrenching than the 2007-2009 Great Financial Crisis and the back-to-back downturns seen in the 1980s, when inflation was last this high.

The economy is simply not as far out of whack as it was in those earlier periods, they say.

While the recession may be moderate, it could end up lasting longer than the abbreviated, eightmonth contractions of 1990-1991 and 2001. That’s because elevated inflation may hold the Federal Reserve back from rushing to reverse the downturn.

“The good news is there’s a limit to how severe it’s going to be,” said Nomura Securities senior US economist Robert Dent.

“The bad news is it’s going to be prolonged.” The former New York Fed analyst sees a roughly 2 percent contraction that begins in the fourth quarter and lasts through next year.

No matter what shape the pullback takes, one thing seems certain: There will be a lot of hurt when it comes. In the dozen recessions since World War II, on average the economy contracted by 2.5 percent, unemployment rose about 3.8 percentage points and corporate profits fell some 15 percent. The average length was 10 months.

Even a downturn on the shallower end of the spectrum would likely see hundreds of thousands of Americans—at least—lose their jobs. The battered stock market may suffer a further fall as earnings drop. And President Joe Biden’s already poor poll ratings could take another hit.

“This would be the sixth or seventh recession, I think, since I started doing this,” private-equity veteran Scott Sperling said. “Every one of them is somewhat different, and every one of them feels equally painful.”

Signs of economic weakness are multiplying, with personal spending falling in May for the first time this year, after accounting for inflation, and a US manufacturing gauge hitting a two-year low in June. JPMorgan Chase & Co.

chief US economist Michael Feroli responded to the latest data by cutting his mid-year growth forecasts “perilously close to a recession.”

The depth and length of the recession will largely be determined by how persistent inflation proves to be, and by how much pain the Fed is willing to inflict on the economy to bring it down to levels it deems acceptable.

Allianz SE chief economic adviser Mohamed El-Erian said he’s worried about a stop-go scenario akin to the 1970s, where the Fed prematurely eases policy in response to economic weakness before it has eradicated inflation from the system.

Such a strategy would set the stage for a deeper economic decline down the road, and even greater inequality, the Bloomberg Opinion columnist said. ElErian was out front in warning last year the Fed was making a big blunder by playing down the inflationary threat.

“The Fed is not going to pause until they see that inflation has convincingly come down. That means that this Fed will be hiking well into economic weakness, likely prolonging the duration of the recession,” said Anna Wong, Bloomberg chief US economist.

For his part, Fed Chair Jerome Powell has argued that while there’s a risk of a recession, the economy is still in good enough shape to withstand the Fed ’s interest-rate hikes and dodge a downturn.

A growing number of private economists aren’t convinced.

“A faltering economy is all but inevitable,” said Lindsey Piegza, chief economist for Stifel Nicolaus & Co. “The question has moved beyond if we are going to see a recession to what’s the depth and duration of a downturn.”

Just as happened some 40 years ago, the decline in gross domestic product will be driven by a central bank determined to rein in runaway consumer prices.

The Fed’s favorite inflation gauge is more than triple its 2 percent objective.

But there are good reasons to expect the outcome won’t be nearly as bad as the early 1980s, or the 2007-2009 financial crisis—episodes when unemployment soared to double-digit levels.

As Goldman Sachs Group Inc.

In this June 16, 2022 photo, rows of fresh cut beef are in the coolers of the retail section at the Wight’s Meat Packing facility in Fombell, Pa. The US economy shrank at a 1.6 percent annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported on June 29, in a slight downgrade from its previous estimate for January-March quarter. AP/Keith Srakocic

chief economist Jan Hatzius has noted, inflation isn’t as embedded in the economy or in Americans’ psyche as it was when Paul Volcker took the helm of the Fed in 1979 after a decade of persistently powerful price pressures. So it won’t take nearly as big of a slump for today’s Fed to bring price rises down to more acceptable levels.

Prominent academic economist Robert Gordon reckons the Fed’s task today requires about half the amount of disinflation that Volcker had to put the economy through.

What’s more, consumers, banks and the housing market are all better placed to weather economic turbulence than they were ahead of the 2007-09 recession.

“Private-sector balance sheets are in good shape,” said Deutsche Bank Securities Inc. chief US economist Matthew Luzzetti. “We haven’t seen leverage taken out to the extent that we saw” ahead of the financial crisis.

Thanks in part to hefty government handouts that boosted savings, household debt obligations amounted to just 9.5 percent of disposable personal income in the first quarter, according to Fed data. That’s well below the 13.2 percent seen in late 2007.

Banks, for their part, recently aced the Fed’s latest stress test, proving they have the wherewithal to withstand a nasty combination of surging unemployment, collapsing real-estate prices and a plunge in stocks.

Housing market

And while housing has been battered of late by the Fed-engineered surge in mortgage rates, it too is in a better place than 2006-2007, when it was awash with supply due to a speculative building boom.

Today the US is about 2 million housing units “short of what our demographic profile would suggest at this point,” said Doug

Duncan, chief economist at Fannie Mae. “That puts a floor to some degree under how big a recession could be.”

Duncan’s base case is for a sharp depreciation in home-price increases, but not an outright decline.

In the labor market, an underlying shortage of workers—thanks to baby boomers retiring and immigration lagging—is likely to make companies more cautious about shedding staff in a downturn, especially if it’s a mild one.

“The story of the past two years has been businesses struggling to find workers,” said Jay Bryson, chief economist for Wells Fargo’s Corporate and Investment Bank.

“We don’t think you’re going to see mass layoffs.”

Some economists say the next recession will prove long-lived, however, if the Fed holds back from riding to the economy’s rescue—as it’s signaled it might if inflation stays stubbornly high.

Powell told a central banking conference last week that failing to restore price stability would be a “bigger mistake” than pushing the US into a recession.

Fiscal policy will also be hamstrung—and could well turn contractionary—if Republicans win back power in Congress, as looks likely in November midterm elections. In an echo of what happened after the financial crisis, GOP lawmakers might use debt-limit standoffs to push for cuts in government spending.

While not predicting a downturn, JPMorgan’s Feroli agreed a recession may be lengthy if one occurred. That would particularly be true if the Fed is again hampered from providing the economy with help by not being able to cut interest rates below zero.

“We don’t think it will be a severe one but it could be a long one,” he said. Bloomberg News

Germany, Ireland slam UK move toward overriding Brexit deal

By Mike Fuller

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The Associated Press

ONDON— Ger many and Ireland have condemned the UK government’s move towards unilaterally rewriting parts of the post-Brexit deal with the European Union.

German Foreign Minister Annalena Baerbock and Irish counterpart Simon Coveney said there was “no legal or political justification” for overriding the agreed trade rules in Northern Ireland.

Writing in British newspaper The Observer on Sunday, the ministers say Britain will be breaking an international agreement just two years old, which it hadn’t engaged in with “good faith.”

The so-called Northern Ireland Protocol within the deal maintains an open border with EU member Ireland and free of customs posts.

British Prime Minister Boris Johnson’s administration wants to remove the checks on goods such as meat and eggs arriving in Northern Ireland from the rest of the UK, which protect the European Union’s single market.

Lawmakers in London passed legislation, which permits the move last week.

Johnson’s critics, opponents and some members of his own party, along with European observers, have said the plan breaks international law. The government argues it is justified because of the “genuinely exceptional situation.”

Baerbock and Coveney said the bill wouldn’t fix the “challenges” around the protocol.

“Instead, it will create a new set of uncertainties and make it more challenging to find durable solutions,” they wrote.

The foreign ministers also argued the move jeopardizes peace in Northern Ireland under the Good Friday Agreement, which helped end decades of sectarian violence and has stood since 1998.

Johnson’s government has hoped to pass the legislation, which will be debated again in Parliament on July 13 by the time its summer break begins later in the month. This could see it become law by the end of 2022.

The EU has threatened to retaliate against the UK if it goes

ahead, raising the prospect of a trade war between the two major economic partners.

Separately, Irish Deputy Prime Minister Leo Varadkar told the BBC on Sunday it wasn’t “appropriate or right” time for a poll on Irish reunification.

Varadkar said such a referendum, permitted under the Good Friday Agreement when a majority in Northern Ireland in favor of a united Ireland is considered “likely,” would be “divisive and defeated” at the moment.

The Northern Ireland Assembly, its devolved legislature, has been paralyzed for months over the implementation of the protocol, leaving it without a regional government.

DJOKO’S DJOKO, NOTHING LESS

Sports BusinessMirror

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| Tuesday, July 5, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NOVAK DJOKOVIC changes his shirt after the second set during his fourth round singles match on Sunday. AP

W STAGE winner Dylan Groenewegen (right) crosses the finish line ahead of second placed Wout Van Aert, wearing the overall leader’s yellow jersey, while Slovakia’s Peter Sagan (left) points and complains. AP

Gilas eyes Thirdy, Ray Jr., big man for Jakarta Asia Cup

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HOT REYES wants Thirdy Ravena and Ray Parks Jr. on the national men’s basketball team to the International Basketball Federation (FIBA) Asia Cup set from July 12 to 24 at the Istora Stadium in Jakarta.

“We’re looking at Ray Parks and Thirdy Ravena, and we’re seeing if we can get another big,” said Reyes, men’s head coach and program director of the Samahang Basketbol ng Pilipinas.

The urgency cropped up in Gilas Pilipinas’s game against India on Sunday night. The nationals went 10-man but still came out smoking in a 79-63 rout for their second win in four games of the third window of the Fiba Asia Qualifiers at the Smart Araneta Coliseum.

Serbian-Kiwi Nenad Vucinic, one of Reyes’s deputies who worked the India and New Zealand games, targeted Kai Sotto but the 7-foot-3 youngster begged off to focus on his National Basketball Association aspiration.

“We’re in a situation that we are playing a little bit unbalanced as a team,” Vucinic told reporters after the India game. “We played with 10 players because Dave Ildefonso is out, and he will not go to the Asia Cup.” “We’re hoping to have Thirdy Ravena and Ray Parks in the team.

It’s good to have a full 12,” Vucinic said. “We don’t really have enough size, enough big guys that we can rotate.”

Vucinic said they played William Navarro out of position as a big guy “ because of the composition of the team.”

Reyes said that they cannot rely on 6-foot-8 Geo Chiu as their only legitimate big man.

“What the team needs is another big. You can’t have Geo Chiu as the only center,” Reyes said.

The Philippines is in Group D with Lebanon, India and New Zealand— which routed the nationals, 106-60, in Auckland last Thursday—in the Jakarta tournament. Josef Ramos

Groenewegen captures Tour Stage 3 in photo finish

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ONDERBORG, Denmark— Dutchman Dylan Groenewegen overtook Wout van Aert and Peter Sagan at the line to win the third stage of the Tour de France in a photo finish while Van Aert extended his overall lead on Sunday.

Groenewegen got behind record seven-time Tour sprint champion Sagan’s wheel when he was battling with Van Aert, and found a gap to squeeze through and nudge his wheel over the line to win for the BikeExchange–Jayco team.

“I took a lot of wind and my legs were tired but I still had enough to sprint to the line,” Groenewegen said.

“Wout van Aert always jokes, saying that if you are not sure of having won, you still claim the victory and you celebrate. That’s what I did (and) I understood I won from the sport directors screaming in the car.”

Groenewegen’s fifth Tour stage win came a day after Fabio Jakobsen’s first. Two years ago, Groenewegen was blamed for a heavy crash at the

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HE forecast of rains notwithstanding, the men of the Philippine Golf Tour (PGT) look to pound the Aoki course and provide some stellar play given their form and class as the International Container Terminal Services Inc. (ICTSI) Eagle Ridge at Aoki Invitational unfolds Tuesday in General Trias, Cavite.

Eagle Ridge Golf and Country Club general manager Antonio Ocampo said that while the Isao Aoki-designed course, one of the championship courses inside the expansive golf complex, has been prepared and set up to challenge the country’s leading pros’ skills and wits, including its last line of defense, he expects a shootout in a field made more formidable by the presence of two Japan Tour campaigners.

“Rain is forecasted for the week. The greens are sleek but are rolling well and we expect excellent low scores because of the caliber of these pros,” Ocampo said. “The roughs aren’t too high, virtually making it negligible, although the course remains as challenging with many levels of difficulty present.”

As it stands, Juvic Pagunsan is the marked player, particularly after the former Asian Tour No. 1, who has not played on the Pilipinas Golf Tournaments Inc.-organized circuit since posting a record four-leg sweep in 2019, put himself in pre-tournament conversation with a runaway victory

Super Sam Holness SAM HOLNESS has had autism since he was four years old.

To him and his father Tony, autism is his “superpower,” neither a disability nor an obstacle.

Sam is an endurance athlete. According to an article

Tour of Poland that sent Jakobsen flying through roadside crash barriers. Jakobsen was put in an induced coma and needed five hours of surgery on his skull and face.

Although Groenewegen was remorseful over the incident, he was banned from cycling for nine months by cycling’s governing body International Cycling Union.

“My family supported me greatly after what happened,” he said. “My new team has put a lot of faith in me and a great train to lead me out.

Every victory at the Tour de France is special.”

Three years after his last Tour stage win, the 29-year-old Groenewegen was open-mouthed and emotional as he put his hands over his head. The win was even more special since he crashed nine kilometers out and had to catch the peloton up.

Sagan was cross with Van Aert, meanwhile, muttering angrily and wagging his finger at him after they crossed the line because he found

himself boxed to the right and close to the barriers. But there was no contact and Sagan even appeared to lean on Van Aert.

Van Aert picked up a six-second bonus and is now seven seconds ahead of Yves Lampaert and 14 ahead of two-time defending champion Tadej Pogacar in the standings. Pogacar’s rival Primoz Roglic, the 2020 Tour runner-up, is seventh overall and stayed nine seconds behind Pogacar.

The stage started in Vejle on the Jutland Peninsula and ended in Sonderborg in southern Denmark after 182 kilometers (113 miles) of flat racing. Groenewegen’s winning time was 4 hours, 11 minutes, 33 seconds. Pogacar and Roglic were nestled in the main pack with finishing positions irrelevant since they all got the same time.

“It’s been quiet for me today, even though flat stages are always nervous and can be dangerous,” Pogacar said. “I wasn’t affected by the crash in the finale.

The first three days have gone well.” AP

IMBLEDON, England—Even knowing what an unusual Wimbledon this has been, what with so many unexpected results and new faces popping up, and so few top seeds— and major champions—remaining, surely Novak Djokovic would not lose to a wild-card entry making his Grand Slam debut, would he?

If it did not quite seem plausible, it did at least become vaguely possible a tad past 9:30 p.m. on Sunday night under the closed roof at Centre Court, when 25-year-old Dutchman Tim van Rijthoven—ranking: 104th; lifetime tour-level victories: eight, all in the past month—had the temerity to smack a 133 mph ace past Djokovic and tie their fourth-round match at a set apiece.

All of nine minutes later, the time it took Djokovic to grab 12 of the next 15 points, and the next three games, both plausibility and possibility took a hike. Soon enough, the third set was his, and not much later, so was the fourth, and the match, a 6-2, 4-6, 6-1, 6-2 result that gave the tournament’s No. 1 seed a 25th consecutive grass-court victory at the All England Club and a place in his 13th Wimbledon quarterfinal.

“Novak did his Novak thing,” van Rijthoven said, “and played very, very well. He had all the answers.”

Beforehand, van Rijthoven had said: “I’ll go into that match thinking I can win.” Might have still had that sense Sunday evening. If only briefly.

Eventually, the only true question was whether Djokovic would wrap this one up in time, because there is an 11 p.m. curfew. Running up

against that would have required them to resume Monday.

“Whew. I am lucky,” Djokovic said after closing the deal with 20 minutes to spare. “It’s never really pleasant if you can’t finish the match in the same day. Glad I did.”

They did not begin playing until 8 p.m., in part due to a delay of roughly an hour at the start of this special afternoon—the first time in history the tournament’s middle Sunday held scheduled play—while a ceremony was held to honor the 100 years of Centre Court.

Djokovic, who questioned after his victory why matches generally begin so late in the main stadium, was among the many past champions who took part, joking to the crowd when it was his turn to speak, “Gosh, I feel more nervous than when I’m playing.”

If he was, indeed, jittery at all at a set apiece many hours later against van Rijthoven, it certainly did not show. Didn’t matter that van Rijthoven kept cranking out huge serves, to the tune of 20 aces, including a pair on second serves.

Didn’t matter just how big the cuts were that van Rijthoven took with his forehands. Didn’t matter that the spectators, who love an underdog, were getting louder and louder as the second set came to a close. Didn’t matter that Djokovic stumbled behind what he called a “slippery” baseline twice, landing first on his backside, later on his left knee and stomach.

“He was on a streak on this surface, and I knew that it wasn’t going to be easy. With that serve and a lot of talent, great touch, powerful forehand, he can do a lot of damage,” Djokovic said. “It took me a little bit of time to get used to his pace.” AP

Lack of world title fights on home Spotlight focuses on Pagunsan, Que soil causes damage to PHL boxing at Eagle Ridge Isao Aoki Invitational in a pro-am event last week.

Angelo Que is the other multi-titled player tipped to contend for the crown in the P2 million tournament put up by ICTSI with the former three-time Asian Tour champion also raring to mark his Tour return with a top podium finish after a tied for 11th effort in his last PGT event, also here last year.

EYES ON CHANELLE AVARICIO CHANELLE AVARICIO sets out for another title crack with a form that continues to get better over time, poised to

re-assert her mastery over a field she had dominated the last time out.

With Princess Superal opting to strike out her name in the roster for a much-needed rest following a grueling campaign in Thailand Ladies Professional Golfers Association, Avaricio faces practically the same set of rivals she trounced on her way to posting an imposing six-stroke triumph in the Pradera Verde Ladies Classic last month.

MANNY PACQUIAO (right) and Gerry Peñalosa strike a pose of former world champions.

written by Rosie-Lyn Thompson on April 4, 2022, on euronews.com, “Sam Holness is an endurance athlete. He’s completed triathlons, an event consisting of swimming, cycling and running. He’s run numerous full 26-mile marathons and half marathons and he’s showing no signs of slowing down. The Ironman champion holds a degree in sports science and also lives with autism. His mission in life is to prove that autism is a superpower and not a disability that prevents him from achieving his dreams.”

His father Tony is his coach, bike mechanic and taxi driver all rolled into one. Holness is an only child and I believe that parents should encourage their child or children in pursuing and going after their dreams rather than discourage them.

According to the same article, “His father, Tony, also happens to be his coach.” It added: “Being a coach means that I take him out every day to do his training and nutrition and I’m also his taxi driver as well as his bike mechanic. I really do everything to make his life as an athlete simple and that’s my primary job.”

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By Josef Ramos

HE lack—or absence—of world title fights in the country is hurting the country’s professional boxing community, according to former World Boxing Council (WBC) bantamweight champion and now promoter Gerry Peñalosa.

“That’s one of the reasons why Philippines—one of the most respected countries in pro boxing— has only one world boxing champion left,” said Peñalosa, referring to WBC featherweight titlist Mark “Magnifico” Magsayo.

“It’s got something to do with the lack of world title fights or title defenses here in the country,” Peñalosa told BusinessMirror over the weekend. “If we can only do fights here, there’s a big advantage on our part to keep our champions.”

“I’m not saying that it’s precisely the main reason but it’s a big boost for any world champion to fight in his hometown,” he said. “It gives them a slight or wide advantage unless they will be knocked out by the challenger.”

Peñalosa said he was saddened

Sam already knew how to swim before his parents discovered he has autism—which caused his speech to be delayed.

A year ago, Sam competed in one of the toughest endurance races an athlete can face, the Ironman 70.3 World Championship. The Thompson article says, “He competed in the grueling Ironman 70.3 World Championship. Forever etching his name in history, he finished the race in five hours and 44 minutes, becoming the first triathlete known to have autism to cross the finishing line. The Ironman race consists of a 1.2-mile swim, a 56-mile bike ride and a 13.1-mile run, one of the toughest endurance tests an athlete can face.”

Sam does triathlon specific training and workouts for 22 to 24 hours a week. His father Tony explains, “My job is to make sure he does the sets in the times that we’ve set the lap. Make sure he has nutrition, his liquids and if he needs any sort of power carb bars to keep him going throughout the session as well, but those sessions are primarily about speed and power.”

that Rene Mark Cuarto lost his International Boxing Federation (IBF) minimumweight title to hometown bet Daniel Valladares via split decision last Saturday in Monterrey, Mexico.

It’s the same case, Peñalosa stressed, with Vic Saludar who lost his World Boxing Association (WBA) and World Boxing Organization (WBO) minimumweight belts in enemy territory.

Saludar first lost the WBO title in August 2019 via unanimous decision to Wilfredo Mendez in Puerto Rico and then lost the WBA belt last December to Erick Rosa via split decision in the Dominican Republic.

“I’m hoping we can bid for world title fights soon just like what we did before, but it’s the financial situation because of the lack of sponsors, that’s why our promoters can’t hold a fights here,” he said.

“The pandemic is also our problem.”

Peñalosa said that a world title fight for lower weight classes—minimumweight to super flyweight—will cost a promoter around P14 million, while the bigger weight categories from bantamweight to welterweight needs P25 million to stage.

Tony focuses on Sam’s pacing and speed, having him jog slowly for 10 minutes then sprint for 2 to 5 minutes. We wonder if there’s plyometrics incorporated into his training.

All the training and workouts have been not without challenges. For Sam, it’s route maps, orientation and physical interaction.

Sam’s parents took on the challenge by getting Sam into judo. People with autism avoid personal contact with others and stick to a daily routine. Sam’s father narrates the first time Sam got into the water as told in the euro news article, “The same happened with his triathlon.

I remember the first time he went in the water, he was reluctant, the gun had gone off and he sort of stood around and looked at the water, put his toes in it, looked around it. The last thing was he took a breath and then jumped in. Once he jumped in, he was off.”

Sam’s story has inspired and motivated parents of autistic children from all over the world. His story has shined a light on the challenge that is autism and on exercise and taking up a healthy and active lifestyle.