BusinessMirror July 07, 2021.pdf by BusinessMirror

State infra spending rises 41% in 5 mos By Bernadette D. Nicolas @BNicolasBM

TATE infrastructure spending in the first five months of the year jumped 41.3 percent compared to a year ago as the government paid completed and partially finished projects. Infrastructure spending by the national government from Ja nu a r y to M ay c l i mb e d to P332.3 billion this year from last year’s P235.2 billion, data from the Department of Budget and Management (DBM) showed. Partially driven by higher infrastructure spending, overall state spending during the fivemonth period grew 8.8 percent to

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P1.8 trillion from P1.66 trillion in the same period in 2020. For May alone, infrastructure spending doubled to P78.9 billion from P38.9 billion in the same month last year. T he spike was largely credited to the ongoing implementation of infrastr ucture projects of the Depar tment of Public Works and Highways nationwide, unlike last year when construction activities were barely conducted enhanced communit y quarantine was imposed on much of Luzon and key areas in the Visayas reg ion. Payables for the construction of the new Senate building project also contributed to the growth

of state infrastructure spending, the DBM said. Total state spending in May hit P456.7 billion, posting a doubledigit growth of 29.2 percent from last year’s P353.6 billion. For June, the budget department said disbursements will continue to rise but at a slower pace when compared with May. The expected pickup in disbursements is attributed to timing of payments of line agencies and subsidy releases to government corporations. “Nonetheless, the strong spending performance for the current quarter, which is driven by infrastructure and other capital outlays and Bayanihan II expenditures,

bodes well for the country’s growth prospects,” it said. In preparation for the second semester, the DBM also said it has begun processing the comprehensive release of cash allocations of agencies to enable faster budget execution and aid line agencies in implementing programs, activities, and projects to bolster the countr y’s economic recovery. For this year, the gover nment has programmed to spend P1.019 trillion for infrastructure, equivalent to 5.1 percent of the country’s GDP. Last year, it spent P869.5 billion for infrastructure or 4.8 percent of the country’s GDP.

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Wednesday, July 7, 2021 Vol. 16 No. 266

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GOVT POLICIES TOUTED FOR SLOWING INFLATION n

PHL RELIANCE ON FOOD IMPORTS SEEN TO STAY HIGH TILL 2030–REPORT

T To address vaccine hesitancy in Mandaluyong City, the local government started placing vaccination stickers on houses with “100 percent confidently vaccinated household members.” In photo, resident Judith Elesis looks on as a barangay officer places a sticker on her house in Barangay Daang Bakal. NONOY LACZA

By Cai U. Ordinario @caiordinario & Bianca Cuaresma @BcuaresmaBM

OOD prices will continue to stabilize in the coming months due to policies of the Duterte administration, the National Economic and Development Authority (Neda) said on Tuesday. This, after the statistics agency reported slowing inflation in June—development that the central bank deemed within the range of their expectations that inflation will eventually move back to within target range toward year-end. See “Inflation,” A2

PESO exchange rates

DTI keenly awaits RCEP’s ratification By Tyrone Jasper C. Piad

@Tyronepiad

HE Department of Trade and Industr y (DTI) said it look s for wa rd to t he rat i f ic at ion of t he R eg ion a l Comprehensive Economic Partnership (RCEP) as this w ill en ha nce t he pa r t ic ipat ion of sma ll bu si nesses i n g loba l v a lue c h a i n s . In a statement on Tuesday, Trade Secretary Ramon Lopez said the mega trade deal will

strengthen the micro, small and medium enterprises’ (MSMEs) access to global markets. “One big advantage of the RCEP Agreement is the wider cumulation area for raw materials. This means our MSMEs can source inputs from the 15 RCEP Parties, process the products here in the countr y, and export the same to the region at a preferential arrangement,” Lopez explained.

HE Philippines will continue to rely on food imports to meet the projected domestic demand by 2030, according to the latest report released by the Organization for Economic Co-operation and Development and Food and Agriculture Organization (OECD-FAO). In the OECD-FAO Agricultural Outlook 2021–2030 report, it is projected that the Philippines will increase its purchases of rice, pig meat, and poultr y. The report noted that with global GDP in 2030 projected to remain below prepandemic estimates, a business-as-usual path will also make achieving the Sustainable Development Goal (SDG) 2 on zero hunger by 2030 “particularly challenging.” “ The challenges of eradicat ing hunger w i l l va r y a mon g cou nt r ies. A ccord ing to the Outlook, average global food availability per person is projected to grow by 4 percent over the next 10 years, reaching just over 3,025 kcal [kilocalories]/day in 2030,” the report stated. “Consumers in middle-income countries are projected to increase their food intake most significantly, while diets

in low-income countries will remain largely unchanged.”

GDP, incomes

The report stated that global GDP is expected to rebound in 2021-2022 and grow at an average rate of 2.9 percent over the next 10 years. While the world economy is projected to recover to preCovid-19 levels by 2022, countries in Southeast Asia and India could recover by 2021 and 2022, respectively. OECD-FAO also estimated that after contracting 6 percent in 2020, global per capita income is expected to recover in 2021 and 2022. Over the coming decade, the report said an average annual growth rate of 1.9 percent in real terms is projected. Further, strong growth is expected in Asia, with per capita income increasing by 5.8 percent per annum (p.a.) in India and 5.3 percent p.a. in China. “Growth in per capita income is also expected to be strong in Vietnam, at 5.5 percent p.a. over the coming decade, and in the Philippines, Indonesia and Thailand at 4.7 percent, 3.8 percent and 3.6 percent p.a., respectively,” the report stated. See “Imports,” A5

See “DTI,” A5

n US 49.2290 n japan 0.4437 n UK 68.1723 n HK 6.3376 n CHINA 7.6160 n singapore 36.6260 n australia 37.0596 n EU 58.4053 n SAUDI arabia 13.1288

Source: BSP (6 July 2021)

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Wednesday, July 7, 2021

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Food, transport inflation to pose problems up ahead, says solon By Jovee Marie N. Dela Cruz

“First, the 4.1 percent inf lation rate [in June] is still very slightly above the 2 to 4 percent target band of the Bangko Sentral ng

Pilipinas. Elevated inf lation during a difficult time narrows our options when it comes to interest rate adjustments,” he said. According to Salceda, the Philippine cannot afford any sudden contractionary interest rate increases at the moment, as it would constrict growth prospects in this period of recovery. Second, the lawmaker said the inflation for key food items is still high, especially for meat. “Meat inflation has decelerated to 17.2 percent from 22.3 percent. This is still above what many poor families can afford. Fortunately, the African swine fever [ASF] is beginning to retreat here and in our

sources of meat imports,” he said. The lawmaker said the Department of Agriculture must sustain its efforts to prevent any further spread of the disease among farms and backyard hog raising facilities. Third, Salceda said while transport inflation is declining, it is still at elevated levels. “The sudden suspension of free bus rides in Metro Manila is certain to make its dent on the July transport inf lation. As a supplyaugmenting move, as well as a matter of basic moral duty, the P4.6 billion in unpaid obligations incurred by the government in contracting transport service providers under Bayanihan 2 should be paid as soon

as possible,” he said. “Tricycle fare remains high at 20.4 percent, even as it is a basic transport ser vice among many poor, rural communities. We must begin to consider loosening restrictions on tricycle rides among family members, particularly as it is a well-ventilated transport option,” he added. Also, while petroleum and fuels inflation decelerated from 35.1 percent to 22.6 percent, the senior lawmaker said the country must be prepared for price hikes in fuel as global demand for fuel begins to recover. Outside Metro Manila, Salceda, meanwhile, said the Bicol region posted the highest inflation rate.

“Although the inflation rate has decelerated from 7.5 percent to 6.3 percent, this remains far too high for our constituents. Outside of NCR, corn prices have increased, from an inflation of 5.6 percent to 5.9 percent this month. As corn is a key ingredient to feeds for livestock, we expect this to continue to impact meat prices. Fish prices have also increased outside of NCR, from 7.9 percent inflation last month to 8.6 percent,” he said. With this, Salceda asked the national government to rationalize policies on transport, particularly on tricycles, which is a key mode of travel in Bicol, and a key driver of inf lation.

of goods amid quarantine restrictions to ensure that households have access to affordable food,” Chua said. In particular, the Neda sees meat and rice prices further declining in the second half even as the rainy season has started. The country is usually visited by strong typhoons in the second semester, causing supply bottlenecks. Last month, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said the rainy season officially began when tropical cyclone Dante entered the Philippine Area of Responsibility. Chua said Executive Orders (EO) 133 and 134 helped slow the increase

in meat prices to 19.2 percent in June 2021 from 22.1 percent in April and May. EO 133 increased the minimum access volume (MAV) for imported pork while EO 134 imposed a temporary reduction of pork tariffs. “The declining meat inflation points to the positive effects of Executive Orders [EO] 133 and 134. These are expected to further bring down meat prices during the second half of the year,” Chua said. On rice prices, Chua said the issuance of EO 135 to temporarily reduce the most favored nation (MFN) tariff rates on imported rice to 35 percent from 40-50 percent helped keep rice prices low. PSA data showed rice prices

contracted 1.1 percent in June 2021, a sharper decline compared to the contraction of 0.8 percent in May 2021. Chua said EO 135 allowed the country to diversify its market sources, expand rice supply, and further bring down rice prices. “In managing inf lation, our priority will be to continue improving our domestic production and providing needed support to our farmers and producers. When necessary, we will augment supply with importation to keep prices stable and to guarantee food security. T his balancing act w ill help us better manage the impact of inf lation on the people and the economy,” Chua said.

to ensure that the monetary policy stance remains consistent with price and financial stability objectives. Local economists, meanwhile, said the slower inflation in June will not likely change the BSP’s monetary policy path. ING Bank economist Nicholas Mapa said BSP is not likely to alter their course anytime soon to continue providing monetary support for the economic recovery. “The BSP has looked past the 6-month inflation target breach, citing the need to deliver stimulus at a time of economic struggle and stalling inflation will relieve some pressure on the Central Bank to hike policy rates to combat inflation. With price pressures fading, we expect inflation to decelerate in the second half of the year as meat prices normalize with authorities allowing higher import volume for the commodity,” Mapa said. “With inflation set to glide back within target, we expect BSP to retain policy rates at 2 percent for the balance of 2021 and only consider adjusting policy by mid2022,” he added. Rizal Commercial Banking Corporation (RCBC) economist Michael Ricafort also saw monetary policy remaining accommodative “in the foreseeable future.” R icafort, however, cited possible cuts in large banks’ reser ve requirement ratio (RRR) from the current 12 percent, especially if inf lation stabilizes further in the coming months. “More accommodative monetary policy would still do more of the heavy lifting for the economy amid lack of funds for any additional economic stimulus, and as the economy still needs all the support measures that it could get to help sustain recovery from Covid-19 pandemic,” the economist said.

crude oil, remain elevated and the peso is seen to continue depreciating for the rest of the year. “The deceleration was largely a result of lower transport prices due largely to decline in the tricycle fares compared to the same time last year. While transport demand remains below pre-pandemic, they are much stronger than the second quarter of 2020,” Neri said. “Electricity and other utilities demand have actually continued to exceed pre pandemic in the second quarter and an indication of strong demand despite malls and schools still not being able to fully reopen,” he added.

@joveemarie

HILE the slowdown in inflation is a positive development for the country’s economic recovery, an economist-lawmaker on Tuesday said there are still key issues that the government should address.

In a statement, House Economic Recovery Cluster co-chairman Joey Sarte Salceda said the country must remain vigilant with inflationary pressures.

Inflation. . . Continued from A1

Socioeconomic Planning Secretary Karl Kendrick T. Chua issued a statement after the Philippine Statistics Authority (PSA) reported that inflation slowed to 4.1 percent in June 2021. This was slower than the 4.5 percent inflation recorded in May 2021 but still higher than the 2.5 percent posted in June 2020. “Recent policies to increase food supply a re beg i n n i ng to bring down inf lation. Rest assured that the government will continue to address constraints in the availability and movement

BSP’s take

According to BSP Gover nor Benjamin Diokno risks to inf lation remain broadly balanced in the policy horizon. “The latest inflation number is consistent with expectations that inflation could remain above target in the near-term as meat and oil prices remain elevated...However, price pressures are seen to abate leading to the reversion of average inflation near the midpoint of the target in 2022 and 2023,” Diokno said in a message to reporters. In the latest monetary policy meeting, the BSP announced their expectation of a 4-percent average inflation for the entire year, hitting the ceiling of their 2 to 4 percent target range for the year. Inflation has now reached an average of 4.4 percent in the first half of the year. This means that inflation should reach an average of 3.6 percent in the second half to meet the BSP’s projection. Diokno sought the implementation of policies to bring down price pressures and said pressures on prices in the future remain supplyside driven. “The effective implementation of direct non-monetary measures will be crucial in mitigating further supply-side pressures...The uptick in international commodity prices owing to supply chain bottlenecks and the recovery in global demand could lend to upward pressures on inflation,” Diokno said. “However, downside risks to the inf lation outlook continue to emanate from the emergence of new coronavirus variants which could delay the easing of lockdown measures and temper prospects for domestic growth,” he added.

Accommodative monetary policy

In terms of monetary policy, Diokno said they will remain “watchful” over evolving pandemic-induced economic conditions and challenges

Economists’ outlook

Meanwhile, local economists said inf lation would likely remain at present levels, if not be lower in the coming months on the back of weak consumption. In an e-mail to the BusinessMirror on Tuesday, Unionbank Chief Economist Ruben Carlo O. Asuncion said the weakness in consumption may remain as the country struggles to get more vaccine supplies. Asuncion said the longer route to herd immunity will lead to a “slower-than-expected ” domestic demand and overa l l consumption. As a result, this will lead to slower inf lation. “ We t h i n k t h at a m i d s u b dued broad-based demand—in other words, weak consumption brought about by the coronavir us pandemic—has somet hing to do with the weakened effect. The June 2021 inf lation print is indeed a sy mptom of a weak consumption base overall,” Asuncion said. Meanwhile, BPI Chief Economist Emilio S. Neri Jr. told the BusinessMirror inflation could stay close to 4 percent in the coming months or slightly higher. Neri said global commodity prices, particularly

Pinoy vices

The PSA data showed inflation for alcoholic beverages and tobacco products for all income households was at 11.2 percent in June 2021, slower than the 11.8 percent posted in May 2021 and 18.5 percent posted in June 2020. The trend is the same for the poorest households which recorded an inflation of 11.5 percent for alcoholic beverages and tobacco products in June 2021. This is also slower than the 12.7 percent in May 2021 and 21.2 percent in June 2020. In terms of cost, consumers need to pay an additional P172.1 today for P100 worth of alcoholic beverages and tobacco products they used to buy in 2012. The bottom 30 percent of households need to pay P186.3 more in June 2021 to buy P100 worth of these products in 2012. “ The increase in CPI for A lcoholic Beverages and Tobacco f rom its initia l CPI of 100 in 2012, which is the current base year, ref lects the increase in the prices of goods in this commodity group,” PSA, however, told the BusinessMirror in an e-mail. “ T hough consumption in terms of expenditure is part of the index computation through the weights, it does not affect the changes in the estimates of CPI since weights are fixed until the next rebasing. Rebasing from 2012 to 2018 is currently being done,” it explained. PSA noted that the double-digit increases in the prices of these commodities began in 2013 due to the Sin Tax Law (STL) which took effect on January 1, 2013. T he pr ices rose anew w ith the i mplement at ion of R A 10963 or t he T R A IN L aw on Ja nu a r y 1, 2018 i nc rea si ng t he t a x rates on c iga ret tes. The poorest Filipinos, meanwhile, saw inf lation average 28.7 percent in 2013 and 20.4 percent in 2018. This ref lected the two highest inf lation rates recorded for this commodity between 2012 and 2021. T he t h i rd h ighest rate wa s recorded in 2020 at 16.1 percent for all households and 18.8 percent for the bottom 30 percent of households nationwide. Based on the weights of the Consumer Price Index, alcoholic beverages and tobacco products had a weight of 1.58 percent for all income households while the weight is 2.45 percent for the poorest households.

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Metro cities halt first dose Covid jab as supply runs out

EVERAL cities in the Philippine capital region have halted their first-dose vaccination programs as supply from the national government runs out. Makati City, home to the nation’s main financial district, said the scheduled inoculation of frontline workers receiving the Covid-19 vaccine for the first time won’t push through on Tuesday. It also shut several vaccination sites in malls and schools, the city government said on Facebook. Parañaque, Caloocan and Valenzuela cities have also stopped firstdose vaccinations as they await for additional supplies, while Malabon and Muntinlupa announced they will no longer entertain walk-ins. Metro Manila and adjacent provinces account for about twothirds of the Southeast Asian nation’s economic output. With over a quarter of the nation’s population, vaccination in the capital region is key to boosting domestic demand and reviving the economy after last year’s record slump. The Philippines will receive about a million AstraZeneca Plc doses from Japan and 170,000 Sputnik V vaccines it ordered from Russia this week, Presidential spokesman Harry Roque said on Monday. About 2.87 million Filipinos have been fully vaccinated, less than 3 percent of its population.

12M vaccinated–Duque

IN Pampanga, Department of Health (DOH) Secretary Francisco Duque

led other government officials at the Luenthai garments factory here on Tuesday in the ceremonial vaccination of economic frontliners (A4) in Region 3 against Covid-19. Joining Duque were Roque, Secretary Vince Dizon, Pampanga Gov. Dennis Pineda, Mabalacat City Mayor Cris Garbo, Clark Development Corp. (CDC) Chairman Atty. Edgardo Pamintuan, CDC President and CEO Manuel Gaerlan and Luenthai President Frank Sauceda. Duque announced that as of Tuesday, 12 million Filipinos have already been vaccinated. He said he is optimistic that the Philippines will achieve herd immunity before Christmas Day. This was also the observation of Dizon who said the government is inoculating 1 million every four days. He said we are assured of enough vaccine supply, especially now that the US and European countries have been fully vaccinated or just to finish the vaccination of their populations. Duque also congratulated Gov. Pineda for achieving a “low risk classification for Pampanga” in the percentage of people who tested positive for Covid-19, which has dropped to “[negative] -33.15 percent or equivalent to less than zero,” and the listing of Pampanga in the “low-risk” classification for infection. “The daily attack rate or risk of spread for Pampanga is 2.61 cases per 100,000 population also considered low,” the health chief said. Bloomberg News with Ashley Manabat

SC grants clemency to dismissed Sandiganbayan magistrate Ong By Joel R. San Juan @jrsanjuan1573

HE Supreme Cour t has granted the plea for clemency, albeit partly, sought by former Sandiganbayan Associate Justice Gregory Ong, who was ordered dismissed from the service in 2014 after an investigation established his connection with alleged pork-barrel scam mastermind Janet Lim-Napoles. In a 12-page decision penned by Associate Justice Marvic Leonen, the Court en banc unanimously granted Ong’s plea, saying that Ong’s demonstration of remorse and reformation, along with his current health condition, are sufficient for the Court to mitigate his penalty. “A better and more humane society, and the implementation of its laws and rules, is the teleology of clemency. It should enable what is good in society rather than undermine the implementation of its ethical values enshrined in its laws and rules,” the Court said. “With the second chance given him, this Court will expect much from Ong. We hope that he will not disappoint,” it added. In partially granting his plea for judicial clemency, the Court reinstated his retirement benefits. However, the Court also decided to forfeit two-thirds of his lump sum benefit as penalty. The Court also lifted the ban it imposed on Ong’s reemployment in any branch, agency or instrumentality of the government, including government-owned or -controlled corporations (GOCC). “Considering the lapse of more than five years and subject to the usual clearances, Gregory Ong is now entitled to his full pension,” the Court ruled. In September 2014, the Court declared Ong guilty of “gross misconduct, dishonesty and impropriety” under the New Code of Judicial Conduct for the Philippine Judiciary which carries the penalty of dismissal from the service and the forfeiture of all retirement benefits, except accrued benefits. The Court adopted the findings of retired Associate Justice Angelina

Sandoval-Gutierrez who was tasked to conduct a probe into allegations that surfaced during the Senate Blue Ribbon Committee hearing on September 26, 2013 on the pork-barrel scam involving Napoles. During the Senate probe, “whistle-blowers” Benhur Luy and Marina Sula testified that Ong was among the personalities who visited Napoles’s office at the Discovery Suites in Ortigas and joined her parties. Luy and Sula claimed that Ong acted as contact of Napoles in connection with the Kevlar case, involving the ghost purchase of 500 Kevlar helmets worth P3.8 million using government funds in 1998. They claimed that Ong, being Napoles’s contact in the Sandiganbayan, fixed the Kevlar case resulting in her acquittal. The justice, however, belied favoring Napoles, explaining that the Kevlar Helmet case was dismissed by the members of the court division that acted as a collegial body. While the evidence was insufficient to prove bribery and corruption charges against Ong since both Luy and Sula did not witness him receiving money from Napoles, the Court found “credible” evidence of Ong’s association with Napoles after the promulgation of the Kevlar case. The Court said Ong’s act of going to Napoles’s office on two occasions, exposed himself to the suspicion that he was partial to Napoles. In November 2019 or five years after, Ong filed a plea before the Court seeking for judicial clemency, praying that his retirement benefits be restored and that the ban against his reemployment in government service be lifted. Ong claimed that he took full responsibility for his actions and accepted the Court’s adverse decision as an expression of repentance for his wrongdoing. He added that his dismissal has turned him into a “remorseful and better individual” and that even after his removal from the service he continued to provide free legal service. Ong also submitted a medical abstract stating that his prostate cancer has recurred and he needs to have an operation and possible chemotherapy.

Editor: Vittorio V. Vitug • Wednesday, July 7, 2021 A3

Probers retrieve flight data recorder from crashed C-130 military plane

IN this photo released by the Joint Task Force-Sulu, military soldiers work near the remains of a Philippine military C-130 plane that crashed in Patikul town, Sulu province, southern Philippines on Sunday, July 4, 2021. The Lockheed C-130 Hercules, which was carrying 96 mostly combat troops, overshot the runway while landing Sunday at the Jolo airport. JOINT TASK FORCE-SULU VIA AP

By Rene Acosta

@reneacostaBM

HE “black box,” or flight data recorder, of the ill-fated C-130 plane that crashed in Patikul, Sulu, last Sunday noon has been recovered, the chief of staff of the Armed Forces of the Philippines (AFP) disclosed on Tuesday. The retrieval of the black box, according to AFP Chief Gen. Cirilito Sobejana would provide probers essentials clues to the crash, dubbed as one of the worst military accident on record that left 53 people, 49 of them soldiers, dead.

“The block box that was recovered is very important because we could listen to whatever conversation between the pilot and the aircrew of the aircraft,” Sobejana said in a broadcast interview. The box, he added, has been turned

over to investigators for examination, even as interviews of witnesses on the ground are being conducted. The military had earlier vowed to undertake a transparent probe into the crash. The box, he added, has been turned over to investigators for examination along with interviews of witnesses for the investigation. The military has vowed to undertake a transparent probe of the incident. Without precluding the results of the probe, Sobejana said in a separate broadcast interview that the C-130 plane touched the runway in Patikul, Sulu, three times as it attempted to land. He said the plane bounced back thrice, and as the pilot attempted to regain control or power over the plane, it crashed and burst into flame, thus burning most of the fatalities. While 49 soldiers and three civil-

ians were killed immediately after the crash, 47 other soldiers survived. The soldiers aboard the ill-fated aircraft were on their way to Sulu for their first deployment. President Duterte flew to Zamboanga City on Monday to personally check on the victims of the crash, where according to Sobejana, the Commander in Chief “bestowed” military awards to both the dead and injured soldiers. “It was a very emotional activity. The President was really saddened of what had happened,” he told in an interview with CNN Philippines’s Pinky Webb. “The President’s instruction was very clear that our air assets and other military equipment should be in good shape all the time.” Since the fatalities were charred beyond recognition, the top military chief admitted that it may be a little bit hard to properly identify all the remains, but vowed military would do everything to ascertain the identities of the deceased before they would be turned over to their families. This is the reason why the names of those killed have not been disclosed yet, although Sobejana had identified the pilot as Major Emmanuel Makalintal, who had 3,000 hours in flying a C-130. Sobejana said that they were hoping to completely identify the remains not only through DNA, but with the dental records of the victims, since most of them are fresh graduates from military training. Some of the soldiers, he said are also Tausug who are raring to go back to their province and help in the counterterrorism campaign of the government. Sobejana is hoping that the United States will also help in the investigation since the C-130 was acquired by the military from the US. The C-130 was delivered to the military on January 29 this year, although it has been used for 20 years before its transfer. The military, however, assured that the ill-fated aircraft was on tip top shape and properly maintained with 11,000 flying hours before any maintenance requirement.

Lacson decries Natl ID ‘snafu,’ but PSA Senator prods DOTr to commend PCG reports progress in Step 1 registration men for shooing away WPS ‘intruders’

EN. Panfilo Lacson lamented Tuesday “missed opportunities” by the Duterte administration to uplift people’s lives due to interminable delay in implementing the National ID system. The senator suggested that “if the national government is really serious to implement the National ID system and capture as many registrants and serve the purpose of better delivery of social services to our people—including more efficient revenue collection, effective anti-corruption and anti-criminality efforts and the like —they better resolve some pestering issues quickly and surely.” The Philippine Statistics Authority (PSA), meanwhile, reported on Tuesday that over a third of the Philippine population have completed Step 1 of the National ID registration process. PSA Deputy National Statistician of the PhilSys Registry Office Rosalinda P. Bautista told the BusinessMirror that as of July 2, a total of 37.18 million Filipinos were able to register for Step 1 of the National ID. This is over a third of the country’s population estimated at 110.219 million as of Tuesday. This was based on the population counter on the Commission on Population and Development (Popcom) web site. “Thisisanotherachievementforthe PSA, and we are only halfway through the year. With the continued support and trust of our registrants for the PhilSysprogram,wearemoredeterminedto reach 50 million to 70 million Filipinos

beforethisyearends,”NationalStatistician and Civil Registrar General Claire Dennis S. Mapa said in a statement. Of the total number of Step 1 registrations, a total of 16.167 million have already completed the Step 2 registration, which involves biometrics collection in registration centers. Lacson noted that while the National ID law has finally taken off the ground, “it has been slowed by several issues—from the controversies that attended the awarding of contracts in outsourcing supply and services, to the crashing of the PSA [Philippine Statistics Authority] web site due to the unanticipated surge of applicants, and now the long hours of waiting just to register and God knows what else.” In a news statement, he asserted that the key to the effective implementation of the National ID System or PhilSys Act rests “in our ability to ‘capture the universe’ and encourage as many Filipinos to sign up and register.” The senator recalled that he used that much “as one of my arguments while sponsoring and defending the measure on the Senate floor three to four years ago.” Finally, he added, it was enacted into law in 2018. “It has already taken a long time since its passage and the implementation of the said law is now taking off the ground. If the issues are left unaddressed, it will be another missed opportunity to uplift the lives of our people in more ways than one,” Lacson rues. Butch Fernandez , Cai U. Ordinario

By Butch Fernandez @butchfBM

HE Department of Transportation (DOTr) was prodded Tuesday to commend Philippine Coast Guard (PCG) personnel for successfully driving away intruding foreign vessels in the West Philippine Sea (WPS). Sen. Risa Hontiveros reminded DOTr that “congratulations are in order for the PCG personnel who bravely stood up for our sovereign rights,” stressing that these “acts of bravery should not go unnoticed.” “Such was not an easy feat. These PCG personnel should be accorded with recognition due them,” the senator said in Filipino. “It takes more than the fulfillment of an obligation,” she said, stressing that protecting Philippine territory against potentially armed intruders is “not an easy task.” In a news statement, the opposition senator cited a recent incident report when the PCG’s BRP Cabra “issued a radio challenge to five Chinese ships and two Vietnamese ships” that were spotted in Marie Louise Bank in WPS. She recalled PCG spokesman Commodore Armand Balilo reporting that “a female radio operator used a Long Range Acoustic Device to conduct the radio challenge, which drove away the seven foreign vessels.” “It makes us proud that our Coast

Guards are bold enough to successfully shoo away foreign intruders trying their luck in our seas,” Hontiveros said. The senator stressed that such acts should be promptly commended, saying, “We need to be able to regularly and continuously give commendations so as to encourage more officers to steadfastly defend and protect our seas and our people,” she added. Hontiveros reminded that just last May, the Coast Guards also successfully dispersed intruders at the Sabina Shoal in the WPS, after the patrolling PCG team issued a radio challenge “for being in the Philippines’s exclusive economic zone.” She observed that these radio challenges only affirms that the Philippines can “assert our ownership of the WPS without resorting to war.” “There is no need to go to war in defending and protecting our West Philippine Sea,” the senator said, adding “Our brave Coast Guard officers are living proof that we can stand up and assert Philippine sovereignty without being harsh and inhuman.” Hontiveros affirmed that “considering the heightened tensions in the disputed waters, official commendation should be given to our officers. It’s the least we can do for those who serve on the frontlines of our national security.”

Economy BusinessMirror

Wednesday, July 7, 2021 • Editor: Vittorio V. Vitug

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Trade dept aims to set minimum benchmark for freight forwarders

By Tyrone Jasper C. Piad

@TyronePiad

HE Department of Trade and Industry (DTI) seeks to set minimum standards and requirements for the recognition of freight forwarders to address the growing trading activities and boost the logistics sector. A recent draft on new rules of freight forwarding aims to “upgrade the quality of services, capabilities, resources and expertise of the covered firms” so they can “meet the demands of the Philippines’s new global trade and growth on domestic trade.” The proposed department administrative order, which recently underwent public consultations, seeks to reduce potential risks for the freight-forwarding sector to secure its growth, while protecting the interests of the businesses and the general public. The draft discusses the documentary requirements for application, qualifications of key operating officers for the company, processing of application for recognition and payment of fees, among others. It shall apply to all freight forwarders, including non-vessel operating common carrier (NVOCC), cargo consolidator (CC), and international freight forwarder (IFF), domestic freight forwarder (DFF) and break-bulk agent (BBA).

The Certificate of Recognition will have five-year validity, unless it was suspended, canceled or revoked earlier. It shall be renewed within two months before the expiration. “No recognized firm shall transfer its Certificate of Recognition or allow the use thereof by any other firm or individual,” the draft reads. Under the draft measure, recognized firms are tasked to submit reportorial requirements, such as cargo statistics report, on a semestral basis. The annual audited financial statements must be submitted within 30 days from the deadline of income tax return filing, while a copy of cargo insurance policy must be provided within 30 days from renewal or coverage. The required paid-up capital or partner’s contribution for NVOCC is proposed at P5 million; CC, P4 million; IFF, P3 million; BBA, P2 million; and DFF, P1 million. “For companies applying for more than one category, the paidup capital/equity requirement for the higher/highest category shall

be applied,” the draft noted. “The proposed measure also requires the minimum amount of insurance coverage. “Proofs shall be in the form of insurance policy and official receipt showing payment of premium, referring to either the merchandise in transit [floater] insurance or any standard global comprehensive cargo liability insurance for freight forwarders and transport operators covering destinations between the Philippines and worldwide,” it said. The pending order suggests a minimum insurance cover for NVOCC at P1 million; CC, P800,000; IFF, P600,000; BBA, P400,000; and DFF, P300,000. The insurance shall cover several truck risks, including fire, explosion, collision, upset of conveyance, collapse of bridges, flood, lightning, cyclone and tornado. In addition, it shall include coverage for robbery and hijacking; losses and damages due to loading and unloading; and losses and damages while the truck is on stop overnight at an allowed territory. Meanwhile, the proposed order also mandates freight forwarders to adhere to existing code of conduct and ethical standards for the industry. The unlawful acts and omissions, as listed in the proposal, are operating without appropriate authority, use of subsisting recognition issued to another entity, failure to deliver cargo as required in the transport document, failure to deliver shipments to the rightful owner and delay in the cargo delivery, among others.

DENR rebuffs study labeling PHL rivers as ‘worst’ ocean polluters By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) on Tuesday nixed a global study that labeled Philippine rivers as top ocean plastic polluters. DENR Undersecretary for Solid Waste Management and Local Government Units Concerns Benny Antiporda said under the leadership of Secretary Roy A. Cimatu, the agency has long been undertaking various measures and exerted rehabilitation efforts in the different river systems in the country, including the Pasig River. “Again, even prior to the publication of the said study, the DENR has already launched various efforts on environmental protection and conservation under Secretary Roy A. Cimatu’s leadership,” Antiporda said in a news statement. The Ocean Cleanup-led study, which was published in the international journal Science Advances has named rivers in the Philippines as among the top 10 sources of ocean plastic pollution. Pasig River has been identified as the top plastic emitter. The study, which used a probabilistic approach and was based on secondary studies did not reflect the actual condition of the rivers, Antiporda argued. Solid waste problem that includes plastic wastes is being addressed from the tributaries to the ocean not only through various mitigation strategies, technologies, law enforcement but also in manpower, he added.

Again, even prior to the publication of the said study, the DENR has already launched various efforts on environmental protection and conservation under Secretary Roy A. Cimatu’s leadership.

DENR Undersecretary Benny Antiporda According to Antiporda, as part of the effort to address solid waste management issues, the DENR continues to support local government units (LGU) in establishing their materials recovery facilities (MRFs). So far, 11,546 MRFs have been built, serving 14,450 barangays nationwide. This year, the DENR has completed the closure of all 335 illegally operating dumpsites in the country despite restrictions brought about by the Covid-19 pandemic. As of 2020, 241 sanitary landfills have been established. The DENR has also formed the Coalition of Solid Waste Management Providers for a more effective approach in solid waste management. The National Solid Waste Management Commission (NSWMC), chaired by Cimatu, has also approved the solid waste management plans (SWM) of 22 LGUs as of May 2021, bringing the total of approved SWM plans to 1,082 or 63 percent of its target nationwide. According to Antiporda, over 1,333 estero rangers were also

commissioned by t he DENRNational Capital Region for the cleanup of waterways and water bodies in the region. He also noted that the Manila Bay Rehabilitation, which started in 2019, entailed cleaning up all waterways that serve as tributaries to the bay, which includes the Pasig River. The Pasig River Coordinating and Management Office has deployed more than 100 River Warriors and River Patrollers to retrieve solid waste and other floating debris from waterways within the Pasig River System and guard the river against violators. From January to May 2021, cleanup operations conducted in Pasig River have led to the retrieval of 136,564 sacks or around 4,096,920 kilograms of solid wastes. Last year, a total of 216,000 sacks equivalent to seven tons of solid wastes were removed from February to December. Antiporda also cited Estero de San Antonio Abad and Estero de Magdalena as some of the esteros cleared of solid waste.

News BusinessMirror

www.businessmirror.com.ph

Wednesday, July 7, 2021 A5

Palace warns ‘severe’ punishment vs users of fake vaccine cards By Samuel P. Medenilla @sam_medenilla

HE government is now eyeing measures to fight the possible proliferation of counterfeit vaccination cards after it relaxed its restrictions for interzonal travel. “That matter will be discussed by the IATF [Inter-Agency Task Force for the Management of Emerging Infectious Diseases],” Presidential spokesman Harry Roque said in an online news briefing last Monday.

This after several local government units (LGU) have already raised concern over the decision of the IATF to allow Covid-19 vaccination cards as substitute for testing requirement for interzonal travel.

Fake vaccination cards

SOME local officials are wary the new policy may prompt people to make use of fake vaccination cards to ease their travel in areas with different community quar-

antine classifications. Roque warned people, who will engage in such illegal action will face severe sanctions. “If you fake a vaccination card, that’s considered as falsification of a public document and they will face a long jail sentence,” Roque said. Last month, it was reported that the Department of Information and Communications Technology (DICT) is working on an electronic QR code capable version of the vaccine card.

The Department of Trade and Industry (DTI) supported the measure to ensure the database for vaccination cards will be centralized and can be verified.

New guidelines

IN a related development, the Department of Labor and Employment (DOLE) issued the guidelines for the validation of the vaccination cards of overseas Filipino workers (OFW). Labor Secretary Silvestre H. Bello

III said the Philippine Overseas Labor Offices (POLO) were tasked to conduct the validation process. He said OFWs, who are fully vaccinated in countries or jurisdictions outside the Philippines, must carry their official documentation of complete vaccination or their International Certificate of Vaccination validated through the POLO. They must also present their valid passport or travel document and verified employment contract.

“The application for validation must be made online via ONEHEALTHPASS PORTAL, which is accessible at https://www.onehealthpass.com.oh/e-HDC/,” Bello said in a statement. The IATF reduced the facility quarantine period of travelers, who were vaccinated abroad and stayed exclusively in “green” areas (low risk for Covid-19) in the past 14 days immediately preceding arrival in the Philippines, from the average 10 days to just 7 days.

CJ says rules on body cams have been OKd, but no copies available yet

HIEF Justice Alexander Gesmundo revealed on Tuesday that the Supreme Court has already promulgated the rules on the use of body-worn cameras, or body cams, in the service of arrest and search warrants by law enforcers. Gesmundo made the announcement during the hybrid oath-taking of newly elected officers of the Integrated Bar of the Philippines (IBP). “As our police authorities have publicly announced the use of body-worn cameras in their operations, the Court

promulgated A.M. [Administrative Matter] 00-5-03-SC, the Rules on the Use of Body-Worn Cameras, which adopted this innovation in the service of arrest and search warrants, while maintaining the delicate balance between the constitutional rights of persons involved and the efficient operations of law enforcement officers,” Gesmundo said. However, SC spokesman Brian Keith Hosaka said the Court en banc has yet to release the said rules. “The same is still being finalized

Imports. . . continued from a1

OECD-FAO said food consumption will be significantly affected by population and demographic changes as well as incomes and income distribution. “The Outlook assumes that food demand will be additionally shaped by sociocultural and lifestyle-driven changes in consumption patterns, including continuing urbanization and rising female participation in the work force, as well as increasing consumer awareness of health and sustainability issues,” the report said. These factors, the report said, will determine the size of the consumer population, the composition of food baskets, and their ability to purchase these commodities.

Consumption, imports

BASED on the report, the country’s rice consumption per capita is expected to increase to 129 kilograms (kg) per person by 2030 from an annual average estimate of 120.3 kg per capita between 2018 and 2020. The report noted that per capita consumption of rice will slow to 0.29 percent annually between 2021 and 2030. This is slower than the 0.49 percent annual per capita increase recorded between 2011 and 2020. With this, the country’s total rice consumption will increase to 18.249 million metric tons (MMT) by 2030. This is 19.81 percent higher than the annual average consumption of 15.232 MMT between 2018 and 2020. However, the report estimated that rice imports will increase to 3.549 MMT by 2030. This is 29.9 percent higher than the annual average of 2.732 MMT posted between 2018 and 2020. Nonetheless, rice production is expected to increase to 14.738 MMT by 2030. This is 18.08 percent higher than the annual average production of 12.481 MMT between 2018 and 2020. “In addition to China and Nigeria, the group of five major importers in 2030 will include the Philippines, the Islamic Republic of Iran, and the European Union. This group is expected to account for 22 percent of global rice imports by 2030, compared to 23 percent in the base period,” the report said. Meanwhile, in terms of pig meat, the report projected that the country’s consumption will eventually slow to 11.2 kilogram retail weight equivalent per capita (kg rwe/

DTI. . . continued from a1

One of the biggest avenues for economic cooperation, RCEP was signed by 10 Association of Southeast Asian Nation (Asean) member-states and five Asean FTA partners in November last year : Australia, China, Japan, Korea and New Zealand. The RCEP region accounts for 29 percent or $25.8 trillion of the global gross domestic product, 30 percent of the world’s population and 25 percent ($12.7 trillion) of global trade in goods and services, DTI noted. “The RCEP region accounts [for] around 50 percent of Philippine exports and 68 percent of Philippine import sources. Hence, the country cannot afford not to be part of this free trade area,” Lopez shared. Lopez said that implementing a uniform set of simplified rules through trade deals will both allow facilitation of trade transactions and reduction of administrative costs for exporters. As such, the trade chief said this can encourage more production and manufacturing activities in the country, resulting

by the justices. We will immediately inform you once it is available,” Hosaka told reporters. Hosaka said he has no information as to when the rules were promulgated. Last month, Gesmundo told reporters that the magistrates would be amending its Rules of Criminal Procedure to adopt a provision on the use of body cams in the enforcement of court-issued search and arrest warrants. Gesmundo added the amended rules would likely be finalized and

cap) by 2030 from the annual average of 13 kg rwe/cap between 2018 and 2020. With this, total consumption is expected to slow to 1.774 MMT by 2030 from the annual average of 1.796 MMT between 2018 and 2020. However, production is expected to decline to 1.483 MMT carcass weight equivalent (cwe) by 2030 from the annual average of 1.671 MMT cwe between 2018 and 2020. With this, OECD-FAO said the imports of pig meat are projected to increase to 293,000 MT cwe by 2030 from the annual average of 128,000 MT cwe in the 2018 to 2020 period. The growth of imports could average 7.13 percent annually between 2021 and 2030, more than twice the 3.15 percent annual average recorded between 2011 and 2020. “The increase in pigmeat production will remain limited in the first three years of the Outlook due to the slow recovery from the outbreaks of ASF in China, the Philippines and Vietnam,” the report stated. “The recovery process is assumed to be completed by 2023, especially in China, supported by the rapid development of large scale production facilities that can ensure biosecurity,” it added. Meanwhile, per capita poultry consumption could increase to 16.3 kg rwe/cap by 2030 from an average of 13.7 kg rwe/cap during the 2018 to 2020 period. This means that poultry meat consumption in the country could reach 2.287

in more jobs and business opportunities. Trade Assistant Secretary Allan B. Gepty, the country’s RCEP Lead Negotiator, added that the local industry will benefit from having an economy which is open to trade and investment under a rules-based system. “The RCEP Agreement is a testament [to] the need to further open the markets for trade and investments, and improve rules and disciplines in addressing the evolving business environment such as e-commerce, intellectual property, and competition policies,” he said. “If you further strengthen the region with rules and disciplines, then you create an environment of trust, and this will encourage more investments and deeper economic integration. In addition, the creation of the RCEP free trade area strengthens economic integration in the region, and balances global power and influence especially with the growing trend in protectionism,” he added. The trade deal is targeted for implementation by January next year.

implemented by July. He said Associate Justice Marvic Leonen, who was assigned by the Court to study the matter, had submitted a working draft to the Court en banc on the proposed revisions. The proposed revisions were scheduled to be discussed by the Court en banc last June 15 since the justices have already submitted their respective inputs on the matter. “So, we hope with the issuance of these tools on body-worn cameras, these issues will be addressed. It’s in the

works and by July perhaps we will have the final version and we will approve it for implementation immediately,” the chief magistrate earlier said. The amendment of the rules was approved by the Court following calls from various law groups seeking Court’s action on the series of killings allegedly perpetrated by police officers during service of warrants.

MMT ready to cook (rtc) from the average of 1.687 MMT rtc between 2018 and 2020. Poultry meat production could increase to 1.557 MMT rtc by 2030. This is higher than the 1.373 MMT rtc average recorded between 2018 and 2020. With this, the country’s poultry meat imports could increase to 731,000 MT rtc by 2030. This is significantly higher than the average of 315,000 MT rtc posted in the 2018 to 2020 period. Cai U. Ordinario

The proposal to compel law enforcers to wear body cams in the service of arrest and search warrants was aired following the death of nine activists and the arrest of several others in the simultaneous police and military operations conducted in the provinces of Cavite, Laguna, Batangas and Rizal (Calabarzon) on March 7, 2021. Joel R. San Juan

BusinessMirror

A6 Wednesday, July 7, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City FANG, XIAODONG Chinese Customer Service 1.

Brief Job Description: Managing incoming calls and customer service inquiries MORIDELE Chinese Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries PAN, LONGQIANG Chinese Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries SURIYANTO Chinese Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries TRAN THANH ANH CHUONG Chinese Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries

No.

Basic Qualification: Able to Speak, Read, and Write Chinese Language

PRADO RAMOS, JESUS ALBERTO Senior Process Executive - Data 16.

LIN, RUI Chief Technology Officer 17.

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

Brief Job Description: Accurate and timely processing of Marketing requests for all commodities. Core Marketing process including, Billing document creation and cancellation. Lay time creation, Material movement ticketing and analysis updates, Shipping document creation and maintenance, SAP updates to nomination, sales orders, contracts and delivery legs, Interpretation, conversion and capture of sales contracts

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

CHEN, FUJUN Mandarin Customer Relations Officer 7.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services.

18.

CHEN, QIANG Mandarin Customer Relations Officer 8.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

DING, TING Mandarin Customer Relations Officer 9.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services.

FENG, DANDAN Mandarin Customer Relations Officer 10.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services.

LIU, JIALI Mandarin Customer Relations Officer 11.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

LIU, PAI Mandarin Customer Relations Officer 12.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

TANG, WEIQI Mandarin Customer Relations Officer 13.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

WU, RENXING Mandarin Customer Relations Officer 14.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

XU, JINGJING Mandarin Customer Relations Officer 15.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent problemsolving and communication skills in MANDARIN, with related BPO experience Salary Range: Php 30,000 - Php 59,999

19.

Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience Salary Range: Php 30,000 - Php 59,999

20.

Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience Salary Range: Php 30,000 - Php 59,999

No.

Basic Qualification: Minimum 15 years of experience in Telco and/ or network operations industry; 10 years of technical management experience.

28.

Brief Job Description: Enters customer and account data and keeping and maintaining information confidential.

HE, TIANMING Chinese Customer Service 29.

PAN, YUMEI Chinese Speaking Admin Associate

30.

21.

Brief Job Description: a. Reporting to management and executing instructions. b. Liaising with management and staff regarding administrative matters. c. Keeping track of account balances and managing petty cash. d. Approving expenditure and issuing payments to Chinese vendors and suppliers. e. Verifying timesheets and processing payroll.

31.

32.

Basic Qualification: Proficiency in handling customers questions about services or products/ Excellent Mandarin communication skills.

22.

Brief Job Description: Supervises and responsible for civil work with knowledge and experience of Ultra-super Critical Coal Fired Power Plant.

33.

34.

23.

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

35.

36.

24.

Basic Qualification: With good communication skills, both oral and written.

Brief Job Description: Japanese Teaching.

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

37.

25.

Brief Job Description: Managing incoming calls and customer service inquiries

38.

LIN, ANSHUI Chinese Customer Service 26.

Brief Job Description: Managing incoming calls and customer service inquiries WANG, ZHILIN Chinese Customer Specialist

27.

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

39.

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

Brief Job Description: Managing incoming calls and inquiries, handling complaints provider solutions, Process customer accounts and file documents

YANG, XINYIN Chinese Customer Service

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

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

YANG, NAN Chinese Customer Service

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City FU, CHAO Chinese Customer Service

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

WANG, HONGMIN Chinese Customer Service

JFE TECHNO MANILA, INC. 23/f Robinsons Cyberscape Alpha Sapphire & Garnet Roads Ortigas Center Pasig City WATANABE, GENKI Assistant Manager For Learning & Organizational Development

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

WANG, XUEMIN Chinese Customer Service

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

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

WANG, SHUAI Chinese Customer Service

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City XIE, JUN Mandarin Customer Support Representative

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

TAN, ZHONG Chinese Customer Service

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

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

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

SHANG, ZHENGSHI Chinese Customer Service

INTEGRATED SYNERGY CONSTRUCTION CORPORATION 21 Floor Tower 1 Insular Life Corporate Centre, Insular Life Drive, Fcc Alabang Muntinlupa City

AOYAMA, TAKUI Civil Supervisor

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

PEI, AIPING Chinese Customer Service

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

Basic Qualification: Experience of the management work for more than 10 years; Fluent in Japanese; Experience of the construction work for more than 10 years; Experience of the design work for thermal power plant for more than 10 years

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

LU, YUANHUI Chinese Customer Service

Basic Qualification: Job-relevant degree, 5 years’ experience in same or related position, multilingual

Basic Qualification: 1. Skills and competence for the nature of the work; 2. Punctuality3. Work output;4. Quality of work;5. Resourcefulness; 6. Initiative;7. Obedience to company rules;

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

LI, DAYU Chinese Customer Service

Basic Qualification: Job-relevant degree, 5 years’ experience in same or related position, multilingual

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

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

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City

Salary Range: Php 500,000 and above

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHANG, ZERONG Chinese Customer Specialist

HIKES GROUP HOLDINGS INC. 26th/f The World Centre 330 Sen. Gil Puyat Ave. Bel-air Makati City

Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Acts as key liaison between the company’s headquarters and assigned area Branches and management of operational practices

MAO, TAO Chinese Speaking Data Entry Clerk

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience

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

FREEMOVED INC. 40/f Pbcom Tower 6795 Ayala Ave. Cor. V.a Rufino St. Bel-air Makati City

Basic Qualification: Has excellent problemsolving and communication skills in MANDARIN, with related BPO experience Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible on a global level for the planning of capacity & daily operations support for the distribution hub network. JING, WEIJIA Network District Manager

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has excellent problem solving and communication skills in mandarin with related BPO Experience

Brief Job Description: Recommends technical implementation, enhancements, and tech investments.

JIANG, PEIYUAN Hub Planning Manager

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City Basic Qualification: Has excellent problemsolving and communication skills in MANDARIN, with related BPO experience

Basic Qualification: Typing / Communication Skills / Spanish Language Expertise

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 9th Flr. Arthaland Century Pacific Tower 5th Avenue 30th Street Cor. 4th Avenue Fort Bonifacio Taguig City

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

Basic Qualification: At least 2 to 3 years of solid and relevant working experience in either supply chain management, sales distribution, order fulfilment or letter of credit presentation. Fluent in English & Japanese, both verbal and written

QUALIFICATION AND SALARY RANGE

DITO TELECOMMUNITY CORPORATION 11/f Udenna Tower Rizal Drive Cor. 4th Ave., Bgc Fort Bonifacio Taguig City

BHP SHARED SERVICES PHILIPPINES INC. 27f, Arthaland Century Pacific Tower 5th Ave. Cor. 30th Street And 4th Ave. Cor. 30th Street Bonifacio Global City Taguig City MASUI, TATSUHIRO Specialist Sales Operations (Japanese Speaker)

Brief Job Description: Provide support through media review of sports, entertainment and adult video content for Spanish Language

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

ESTABLISHMENT / ADDRESS

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Managing incoming calls and inquiries, handling complaints provider solutions, Process customer accounts and file documents

YOU, GAOJIE Chinese Customer Service 40.

Brief Job Description: Managing incoming calls and inquiries, handling complaints provider solutions, Process customer accounts and file documents

Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year Chinese Customer Service in the similar field. Must be fluent in Mandarin and English written and orally. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the similar Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the similar field, Speaks and write fluently Mandarin and English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate, Preferably 1 year experience in the similar field, Speaks and write fluently Mandarin and English Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YUAN, JIAXIANG Chinese Customer Service

41.

ESTABLISHMENT / ADDRESS

Brief Job Description: Managing incoming calls and inquiries, handling complaints provider solutions, Process customer accounts and file documents

QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate, Preferably 1 year experience in the similar field, Speaks and write fluently Mandarin and English

No.

59.

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

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg. 130 Dela Rosa St. San Lorenzo Makati City GONZALEZ CASTAÑO, LUISA FERNANDA Customer Operations Specialist - Order To Cash 42.

Brief Job Description: Provide high quality frontline support to existing Shell customers from order through to payment.

Basic Qualification: Fluency in both English and Spanish - mother language is Spanish

43.

Brief Job Description: Design and implement software solutions that can be enable the business to operate. LI, YANG Mandarin It Support Staff

44.

Brief Job Description: Design and implement software solutions that can be enable the business to operate. YANG, QIZHENG Mandarin It Support Staff

45.

Brief Job Description: Design and implement software solutions that can be enable the business to operate. ZHANG, XINGUO Mandarin It Support Staff

46.

47.

48.

49.

50.

51.

52.

53.

54.

55.

56.

Brief Job Description: Design and implement software solutions that can be enable the business to operate. CHI, CHEN Mandarin Customer Service Agent Brief Job Description: Creating and updating customer’s account information WAN, JIAWEI Mandarin Customer Service Agent Brief Job Description: Creating and updating customer’s account information YUAN, QINFENG Mandarin Customer Service Agent Brief Job Description: Creating and updating customer’s account information ZHENG, ZONGQING Mandarin Customer Service Agent Brief Job Description: Creating and updating customer’s account information DAO LUU HUU TAI Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable

HEU RONG HUI Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable

LIU, CHANG-JIE Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable

NGUY DIEU QUYEN Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable

NGUYEN THI THANH Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable

TRAN TU VI Mandarin Finance Staff Brief Job Description: Records accounts payable and accounts receivable GU, SHIMEI Mandarin Marketing Staff

57.

Brief Job Description: Deliver prepared sales talks, reading from scripts that describe products or services, in order to persuade potential customers to purchase a product or service

XIAO, YAO Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

BAI, YIGUANG Chinese It Specialist 60.

Brief Job Description: Maintaining the operations of all electronic gaming devices

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

SKYLUSTER TECHNOLOGY, INC. 10/f The Enterprise Center Tower 2 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City 26/f Pbcom Tower 6795 Ayala Ave. Bel-air Makati City 28/f Tower 6789 6789 Ayala Ave. Bel-air Makati City 11/f The Enterprise Center Tower 2 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City CAO, PUXIANG Mandarin It Support Staff

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

61.

Basic Qualification: Excellent oral and written communication in Mandarin. Salary Range: Php 30,000 - Php 59,999

62.

Basic Qualification: Excellent oral and written communication in Mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent oral and written communication in Mandarin.

63.

CAI, JIAHUA Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

CHANG, XIAOQIAN Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

CHEN, YIMIN Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent oral and written communication in Mandarin.

64.

CHEN, GUOQIANG Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

58.

Brief Job Description: Manage construction of a wastewater treatment plant.

Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking

Basic Qualification: College graduate with experience in maintaining gaming devices; Fluent in Mandarin & English Speaking

65.

Basic Qualification: Can speak, read and type Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak, read and type Mandarin

66.

Brief Job Description: Maintain the operation of electronic device

HAN, FUXIA Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak, read and type Mandarin

67.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in finance , accounting or any related field study Salary Range: Php 30,000 - Php 59,999

68.

Basic Qualification: Bachelor’s degree in finance , accounting or any related field study Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in finance , accounting or any related field study

69.

HUANG, WEILIN Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

HUANG, FUCHENG Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

MU, JUNYI Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in finance , accounting or any related field study

NIE, FEIFEI Chinese It Specialist 70.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in finance , accounting or any related field study Salary Range: Php 30,000 - Php 59,999

71.

Basic Qualification: Bachelor’s degree in finance , accounting or any related field study

Brief Job Description: Maintaining the operations of all electronic gaming devices

NIU, HUAN Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent oral and written communication in mandarin

72.

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

OU, YAOBO Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

Basic Qualification: French speaking Construction Manager; With speaking on at least 3 international large projects in construction of water treatment plants (plant treatment capacity over 50,000 m3/day.

73.

74.

PAN, XIAOJUN Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

SU, ZHIFENG Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

75.

76.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking

77.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking

78.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

79.

80.

81.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

82.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

83.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WANG, ZHENGYING Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

WANG, BINQUAN Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

WANG, RONGGUI Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

WANG, KUNZHEN Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

WEN, SONGYANG Chinese It Specialist

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

Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

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

No.

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

Basic Qualification: Can speak, read and type Mandarin

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

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St. 072 Bgy. 669 Ermita Manila

QUALIFICATION AND SALARY RANGE

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

SUEZ INTERNATIONAL PHILIPPINE BRANCH Unit Lz-2 19f Tower 1 Highstreet South Corporate Plaza 9th Ave. Cor. 26th St. Fort Bonifacio Taguig City

DECONFIN, NILS PAUL CLAUDE ADRIEN Construction Manager

ESTABLISHMENT / ADDRESS

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

GUO, KAI Chinese It Specialist

Wednesday, July 7, 2021 A7

84.

Brief Job Description: Maintaining the operations of all electronic gaming devices

WU, JIANGCAN Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

WU, WEIMING Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

WU, ZHIMING Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

XIE, ZEBING Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

XING, FEN Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking.

ZHANG, XIAO Chinese It Specialist 85.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintaining gaming devices; Fluent in Mandarin & English Speaking

86.

Brief Job Description: Maintaining the operations of all electronic gaming devices

ZHANG, WEI Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking

87.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999

88.

89.

DANG XUAN NGHI It Specialist Brief Job Description: Maintain the operation of electronic device

TRAN VAN CUONG It Specialist Brief Job Description: Maintain the operation of electronic device

TRAN VAN TAN It Specialist Brief Job Description: Maintain the operation of electronic device

QUALIFICATION AND SALARY RANGE Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintaining gaming devices; Fluent in Mandarin & English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintaining gaming devices; Fluent in Mandarin & English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 Vacancy/College Graduate with experience in maintain gaming devices fluent in mandarin and English Speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices, fluent in mandarin and English speaking. Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jul 6, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on January 14, 2021, the name of Ding, Liu under TIANYU TECHNOLOGY INC., should have been read as LIU, MENG and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Wednesday, July 7, 2021

The World BusinessMirror

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

Military and police declare war on medics in Myanmar J

AKARTA, Indonesia—The clandestine clinic was under fire, and the medics inside were in tears. Hidden away in a Myanmar monastery, this safe haven had sprung up for those injured while protesting the military’s overthrow of the government. But now security forces had discovered its location. A bullet struck a young man in the throat as he defended the door, and the medical staff tried frantically to

stop the bleeding. In Myanmar, the military has declared war on health care—and on doctors themselves, who were early and fierce opponents of the takeover in February. Security forces are arresting, attacking and killing medical workers, dubbing them enemies of the state. With medics driven underground amid a global pandemic, the country’s already fragile healthcare system is crumbling.

“The junta is purposely targeting the whole healthcare system as a weapon of war,” says one Yangon doctor on the run for months, whose colleagues at an underground clinic were arrested during a raid. “We believe that treating patients, doing our humanitarian job, is a moral job….I didn’t think that it would be accused as a crime.” Inside the clinic, the young man shot in the throat was fading. A minute later, he was dead.

One of the clinic’s medical students, whose name like those of several medics has been withheld to protect her from retaliation, began to cry. She had never seen anyone shot. Now she too was at risk. Protesters smashed a window so the medics could escape. “I cry every day from that day,” the medical student says. The suffering caused by the militar y’s takeover of this nation of 54

million has been relentless. Security forces have killed at least 890 people, including a six-year-old girl they shot in the stomach, according to the Assistance Association for Political Prisoners, which monitors arrests and deaths in Myanmar. A round 5,100 people are in detention and thousands have been forcibly disappeared. The militar y, known as the Tatmadaw, and police have returned mutilated corpses to

families as tools of terror. Amid all the atrocities, the military’s attacks on medics, among the most revered professions in Myanmar, have sparked particular outrage. Myanmar is now one of the most dangerous places on earth for healthcare workers, with 240 attacks this year—nearly half of the 508 globally tracked by the World Health Organization. That’s by far the highest of any country. AP

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Spain restricts nightlife as Covid infections surge among the young

A DR I D — Face d w it h soaring numbers of new coronavirus infections among unvaccinated young people, some Spanish regions are reinstating curbs on nightlife only weeks after dropping them. Fearing that the surging contagion could strain health care services as stressed employees try to go on summer holidays, health officials in several parts of the country are also rushing to get Covid-19 vaccine shots to people under 30. Spain’s strict vaccination rollout has so far focused on older, more vulnerable groups, leaving the vaccination of teenagers and people in their 20s for the summer. So far, 40 percent of Spain’s 47 million people have been fully vaccinated, one of the highest levels in Europe, but that falls to one in 10 vaccinated in the 20-29 age group and a meager 0.7 percent for those under 20. “We have to thank the youth for the extra, longer effort that we have demanded from them, as they are only starting to get vaccinated now,” said Fernando Simón, who coordinates the countr y’s response to hea lth emergencies. Simón said Monday there’s a danger that infections among young people spread to vulnerable older groups like those waiting for a second vaccine dose or people not vaccinated at all. “We are in a complicated situation regarding transmission and we hope that this doesn’t turn into a grave situation at hospitals,” he said. The 14-day contagion rate Monday among those 20 to 29 was more than three times the national average of 204 new cases per 100,000 residents. Simón said the Delta virus variant that has been blamed for rising infections in other countries like Portugal and Britain is not yet

the main driver of new confirmed cases in Spain. New infections have also spread among Spanish teenagers as a result of trips and parties to celebrate the end of the school year. Thousands have been forced to go into isolation nationwide after more than 1,000 infections were tied to student trips to Spain’s Mallorca islands. At least 700 others have tested positive in mass screenings in the northern Navarra region among students who went to a beach resort last month. Authorities in Navarra are seeing more than 500 new infections a day, a level not reached since the country’s second virus resurgence in October. In response, they announced that bars and nightclubs will go back to closing at 1 a.m. instead of 3 a.m. Nightlife will be completely shut down in at least 16 towns in the northern Cantabria region, which leads the nation’s infection tallies. A spike in coronavirus infections is also hitting the northeastern Catalonia region. Aut hor it ies t here h ave i nv ited people over 16 to receive their virus shots after a seven-fold increase of infections in the past two weeks, reaching more than 3,000 new confirmed cases in the past few days. The rebound in cases has so far led to comparatively lower hospital admissions than previous surges because Covid-19 leads to fewer complications among young people, but health care centers and contagion contact tracers are struggling to handle an overload of cases. A fe d e r at io n of n i g ht l i fe business owners has issued a statement saying that their industry is being used as a “scapegoat” for the new surge in infections and urged authorities instead to crack down on illegal booze parties. AP

Taiwan as part of its territory. China has also turned up the heat. President Xi Jinping struck a defiant tone in a speech marking the Communist Party’s 100year anniversary last week, calling China’s quest to gain control of Taiwan a “historic mission” and warning the country’s adversaries to avoid standing in the way of his government. Aso told reporters Tuesday the most desirable outcome was for the parties involved to reach a peaceful solution through direct talks. “We have to think about various situations, such as not being able to pass through the Taiwan Strait,” Aso said. “It’s difficult to say overall which would be an existential threat.” The government’s top spokesman, K atsunobu K ato, told a briefing he didn’t know the details of Aso’s comments on defending Taiwan and declined to

ISSION, Kansas—The number of hospitalized Covid-19 patients jumped by nearly 27 percent over the Fourth of July weekend in a hard-hit area of Missouri where immunization rates are low, leading to a temporary ventilator shortfall and a public call for help from respiratory therapists. The Delta variant, first identified in India, is spreading rapidly, straining hospitals in Springfield and raising fresh fears that the situation could soon grow worse as holiday gatherings seed fresh cases. Missouri leads the nation with the most new cases per capita in the past 14 days. As of Monday, CoxHealth and the city’s other hospital, Mercy Springfield, were treating 213 Covid-19 patients, up from 168 on Friday. As recently as May 24, the two hospitals had just 31 patients. “After what we’ve seen in the last month everyone is just holding their breath, especially after a holiday weekend like this, knowing that there were large gatherings,” said Erik Frederick, the chief administrative officer of Mercy Springfield. Many communities that held off on Fourth of July festivities in 2020 held them this year. Key developments:

Sri Lanka gets Pfizer jabs

COLOMBO, Sri Lanka—Sri Lanka on Monday received a first batch of Pfizer’s Covid-19 vaccine, becoming the first country in South Asia to get the US-made Covid-19 jab. Officials say 26,000 doses of Pfizer vaccine directly purchased by the Sri Lankan government was flown into the country on Monday. Health authorities say that Sri Lanka had signed agreements to purchase 5 million Pfizer doses this year. The country is expected to receive about 200,000 Pfizer doses this month. Sri Lankan President Gotabhaya Rajapaksa tweeted that “Sri Lanka becomes the first country in South Asia to acquire a contingent of Pfizer vaccines.” Sri Lankan health authorities have so far used AstraZeneca doses manufactured in India, China’s Sinopharm and Russia’s Sputnik V in the country’s battle against Covid-19.

comment on them. Tensions have grown around Taiwan in recent months, with China sending 28 military planes close to the island in June, the largest exercise this year. Japanese Vice Defense Minister Yasuhide Nakayama said in a presentation to a Washington think tank last month that China presented a growing threat, and it was necessary to protect Taiwan as a “democratic country.” Chinese officials urged Japan to disavow the remarks, which they described as sinister, irresponsible and dangerous. Japanese gover nment spokesman Kato said the comments represented a personal view, while Defense Minister Nobuo Kishi said there was no change to Japan’s support for the “one China” policy, under which Taiwan is not treated as a country, TBS news reported. Japan has demonstrated sup-

port for Taiwan, including by donating about two million doses of vaccine to its neighbor, as Taipei has blamed China for impeding shipments of the shots. The second shipment of donated vaccines was set for delivery Thursday, Foreign Minister Toshimitsu Motegi said. W hile Japan’s pacifist constitution limits the scope of its military, a 2015 reinterpretation of the document allows it to send troops to overseas conflicts in some circumstances. Aso, 80 and a former prime minister, has a history of controversial remarks, including in 2013 suggesting that Japan learn from the Nazis. He later withdrew the comment. In the early months of the Covid-19 pandemic, he explained Japan’s relatively low death rate from the disease by saying its people were of a different cultural level. Bloomberg News

Luxembourg prime minister hospitalized after positive test

RUSSEL S —Lu xembourg P r i me M i n i ster X av ier Bettel is in a “serious but stable” condition and will remain in the hospital for up to four more days after he was unable to shake a bout of Covid-19 that developed over a week ago, the government said. In a statement, it added that the running of state affairs will be taken over by Finance Minister Pierre Gramegna in the meantime, even if Bettel still coordinates some work remotely. Bettel, 48, was diagnosed with insufficient oxygen saturation, forcing him to remain under medical observation since the

weekend. He was also suffering from other coronavirus symptoms including coughing, headaches and a fever. “The medical state of the prime minister is considered serious but stable,” the government said. Since he self-isolated last week, Bettel has continued to work remotely and through video conferences. He was taken in for 24 hours of testing and medical analysis on Sunday and those tests continued Monday afternoon. EU Commission President Ursula von der Leyen said she wished him “a very speedy recovery,” tweeting: “hope to see you soon in good health. In the meantime, rest

Covid-19 infections grow in hard-hit Missouri area

Japan, US must defend Taiwan together–Deputy Premier Aso apan and the US would have to defend Taiwan together in the event of a major problem, Kyodo News reported Deputy Prime Minister Taro Aso as saying, marking some of the highestlevel remarks from Tokyo on the sensitive subject. In comments at a political fundraising party in Tokyo on Monday, Aso said an invasion of Taiwan by China could be seen as an existential threat, allowing Japan to exercise the right to collective self-defense, Kyodo reported. Japan has sought to avoid a lienating China, its big gest trading partner, while maintaining its alliance with the US, amid tensions between the world’s two largest economies over topics ranging from the origins of Covid-19 to human rights. Recent comments about Taiwan by some Japanese officials have nonetheless angered China, which sees

Wednesday, July 7, 2021

and take good care of yourself.” Bettel announced his positive test just after he had attended a European Union summit with 26 other leaders from the bloc for two days. At first he experienced only mild symptoms. But on Sunday, he had to be hospitalized. Bettel had received one Covid-19 vaccine dose in May and had been scheduled to get his second AstraZeneca shot on July 1. “It was unfortunate that he tested positive just before that,” the official said. EU summit organizers said they were confident that all vir us precaution measures had been strictly adhered to during

the two-day meeting. So far, no other EU leader has said he or she tested positive. EU leaders have been grappling with the dangers of transmitting the virus during one of their many meetings for over a year now. Most of their summits have been held through videoconferences and only when essential issues were dealt with that needed long in-person negotiations did the leaders convene at EU headquarters in Brussels. Last summer, a four-day summit on the EU budget and Covid-19 recovery plans was held at the Europa building, but with maximum social distancing and many meetings outside. AP

South Korea reports 711 new cases

SEOUL, South Korea—South Korea has reported 711 new cases of the coronavirus as infections continued to grow in the greater capital area. It was the third straight day of over 700 cases and the highest daily jump for a Monday since early Januar y, when the countr y was enduring its worst wave of the pandemic. Usually a smaller number of cases are reported at the start of the week, due to reduced testing on weekends, and the country’s caseload may grow faster over the next few days. The Korea Disease Control and Prevention Agency said around 550 of the new cases came from the populated Seoul metropolitan area, where officials delayed a planned easing of social distancing measures to cope with a rise in transmissions. Cases were also reported in most of the major cities and towns across the country, including Busan, Daejeon and the North and South Gyeongsang provinces.

Indonesia accepts fully vaccinated visitors

JAK ARTA, Indonesia—Indonesia is requiring foreign visitors to be fully vaccinated as one of the entr y requirements as the countr y tries to curb the spread of Covid-19. Ganip Warsito, National Task Force for Covid-19 Mitigation C h ief, says t hat st a r t ing on Tuesday, both foreigners and

Indonesian nationals entering the country have to show digital or physical proof that they have been fully vaccinated. The obligation to show vaccination cards can be excluded in some cases, including diplomatic visas and ser vice visas, a nd du r ing of f ic ia l v isits at ministerial level. The government is also extending the quarantine time for foreign travelers from five days to eight days.

Pakistan gets Moderna vaccine from US

I SL A M A B A D — Nor m a lc y re turned at Covid-19 vaccination centers across Pakistan on Monday, days after Washington delivered 2.5 million doses of the Moderna vaccine to Islamabad. T h a t e n a b l e d P a k i s t a n ’s gover nment to overcome shor tages of specif ic vaccines, which were needed to inoculate e x pat r i ate workers w ish ing to t ravel abroad. Moderna vaccines were delivered to Pakistan last week by Washington in partnership with the COVA X global vaccine initiative and UNICEF. Before receiving this vaccine, Pakistan had mostly relied on Chinese vaccines. Pakistan faced the shortage of specific vaccines last month after some Midd le Easter n cou nt r ies a sked t ravelers to produce a certificate to show they’ve received specific vaccines, including the Moderna, Pfizer or AstraZeneca shots. AP

Thailand chemical factory explodes

A NGKOK— A m a ssive explosion at a chemical factor y on the outskirts of Bangkok early Monday killed at least one person, injured dozens more and damaged scores of homes, while prompting the evacuation of a wide area over fears of poisonous fumes and t he possibi l it y of add it iona l denotations. Dense clouds of black smoke continued to billow from the site late in the day. Winds shifted and started blowing toward the city’s center, and evacuation centers were set up in a school and a gover nment of f ice for those forced from their homes. T he f ire broke out at around 3 a.m. at a foa m a nd pl ast ic pel let ma nu fact u r ing factor y just outside Ba ngkok nea r Suva r nabhu m i A ir por t, w it h t he e x plo s ion blo w i n g out w i n dow s of su r rou nd i ng homes a nd s e nd i n g d e b r i s r a i n i n g f rom t he a ir. The blast could be heard for kilometers (miles) and sur veillance video from a nearby house captured the bright f lash and boom, followed by damage to the home and the one next door from the shockwaves. The main blaze at the Ming Dih Chemical factor y had been brought under control by midmorning, but an enormous tank containing the chemical styrene monomer continued to burn, said local disaster prevention of f ic i a l C h a i l it Suw a n n a k it pong. Officials said many tons of styrene monomer were stored on the site. Helicopters tried to navigate close enough through the thick black smoke to dump fire retardant onto the fire, with little apparent success. The Prime Minister’s Office

ordered that rain clouds be seeded if possible in the hope that a downpour would help bring the pollutants out of the sky, then re versed t he com m a nd over concerns it would lead to toxic chemica ls contaminating the city’s rivers and canals. Authorities said 62 people had been injured, including 12 involved in firefighting and rescue efforts, and one person had been confirmed dead. Styrene monomer, a hazardous liquid chemical used in the production of disposable foam plates, cups and other products, can produce poisonous fumes when ignited. Chailit said officials were trying to move all people out of the area, including doctors and patients from the neighborhood’s main hospital where many of the casualties were initially treated, over fear of the fumes and the possibility of more explosions. The chemical itself also emits styrene gas, a neurotoxin, which can immobilize people within minutes of inhalation and can be fatal at high concentrations. Last year in the Indian city of Visakhapatnam, a leak of styrene gas from a chemical factory killed 12 people and sickened more than 1,000. Aut hor ities were caref u l ly monitoring the air in the area around the fire, and Pollution Control Department official Thalerngsak Petchsuwan urged anyone remaining in the vicinity to close their doors and windows to avoid inhaling any fumes. “ Those who breathe it in can get dizzy and vomit and it might cause cancer in the long term,” he said. Authorities ordered the evacuation of an area 5 kilometers (3 miles) around the scene. AP

A10 Wednesday, July 7, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Helping our children survive and thrive

he first 1,000 days of life is one of the most vulnerable and critical periods in child development, according to scientists. Children urgently need proper nutrition, care and medical needs during this period to help them grow and develop properly. They could develop chronic illnesses or even die if they don’t have access to nutritious food and proper medical care. According to the World Health Organization, over 5.9 million children under five years old worldwide die due to malnutrition. In a statement released by the Child Rights Network (CRN) in 2018, it noted that data from the Food and Nutrition Research Institute (FNRI) complements this figure. Citing figures from the attached agency of the Department of Science and Technology (DOST), almost one in three Filipino children aged zero to two were classified as malnourished in 2013. The Department of Health (DOH) said malnutrition remains a significant public health concern in the Philippines, with an estimated 4.2 million children who are stunted (short for their age) and more than 300,000 children under five years who are severely wasted (thin for their height). Children who are stunted have life-long damaging consequences on their cognitive and intellectual capacities. Those who are suffering from severe wasting, also known as severe acute malnutrition, have at least nine to 12 times increased risk of death. Congress sought to fix this “gaping hole in social protection” by enacting Republic Act 11148, or the Kalusugan at Nutrisyon ng MagNanay Act of 2018. The DOH said the law seeks to scale up the national and local health and nutrition programs through a strengthened integrated strategy for maternal, neonatal, child health and nutrition in the first 1,000 days of life. The enactment of RA 11148 was regarded as a significant development in the government’s bid to make Filipinos the healthiest in Southeast Asia by 2022 and in Asia in 2040. The pandemic, however, presented significant challenges to achieving the goals of the law, according to the National Nutrition Council. The need to highlight these challenges prompted the government to adopt the theme, “Malnutrisyon patuloy na labanan, First 1,000 days tutukan!” for this year’s Nutrition Month. The NNC said the theme calls for continued efforts to address malnutrition in the country, which is expected to worsen as a result of the pandemic and limited resources. NNC said the government’s decision to adopt the theme was based on the low awareness of the first 1,000 days, as indicated by a message recall survey it conducted. The theme is essentially an appeal to all sectors, especially local government units, to help scale up interventions and services in the first 1,000 days. The participation of LGUs is particularly crucial in areas that have recorded stunting rates of over 40 percent (See, “World Bank warns of ‘silent pandemic’ amid rising child undernutrition in PHL,” in the BusinessMirror, June 15, 2021). The Philippines cannot afford to put on hold initiatives that seek to prevent malnutrition, as the cost of inaction is huge. A study titled “The Economic Consequences of Undernutrition in the Philippines: A Damage Assessment Report,” indicated that the Philippines will continue to lose around $4.5 billion per year if current rates of undernutrition are not addressed. The full implementation of RA 11148 and investments in interventions to combat child malnutrition will help the country avert these losses. Since 2005

SSS coverage for overseas Filipino workers Aurora C. Ignacio

All About Social Security

recently watched in the news that there was a huge batch of overseas Filipino workers (OFW) that was vaccinated prior to their deployment. It’s good to know that these same people who were involuntarily repatriated last year may now resume their overseas jobs even if Covid-19 still remains a serious threat to all of us.

As modern-day heroes, the OFWs opt to work overseas for a variety of reasons—lucrative offers and opportunities, change of working environment, to be with relatives residing abroad, and yes, for a lifelong dream or an adventure in a foreign land. Whatever the reason may be, their decision to work overseas is always for the benefit of their families. Just like here at the Social Security System (SSS), we also endeavor to extend social security protection to our Filipino workers, whether they are based here or overseas, including their beneficiaries. The SSS provides short- and long-term benefits to members as long as they

Beware of the ‘Aswangs’!

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Dennis Gorecho

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qualify to receive various benefits and loan privileges—these may be in the form of sickness, maternity, disability, unemployment, retirement, funeral and death as well as member loan programs like salary and calamity loan, among others. This is why it is important to update or start one’s SSS membership before leaving the country despite earning in a different foreign currency abroad. Think of your monthly contributions as savings for social security protection and as an investment in your future. SSS started its coverage for OFWs in 1995, initially for voluntary membership. However, effective March 2019, SSS coverage is now com-

hilippine folklore is filled with mythical and mysterious beings, including scary monsters like the aswangs that gave us many sleepless nights.

The aswang is the Philippines’s most famous carnivorous monster, a boogeyman-like predatory figure in local folklore who preys on humans. Aswang is an umbrella term for an entire family of vampiric and malevolent spirits that suck blood, eat human flesh and also shape-shift as feral dogs, wild pigs, bats, or crow-like birds when hunting. The witch, the were-beast, the bloodsucker, the corpse-eater, as well as the flying torsos (manananggal) or winged monster who sucks unborn children out of pregnant women, are some of the types of aswangs in Philippine folklore wrapped in one terrifying package. The aswangs appeared in the international anime series Trese in Netflix, which fuses Philippine folklore, legends, and horror mythology with dark, graphic storytelling. It follows Alexandra Trese, a mysterious detective who deals with crimes of supernatural origin. Ghouls as aswangs formed organized gangs as underworld denizens of Ma-

nila, purveyors of nightclubs or criminal gangs involved in gun smuggling. The Mayor was seen making deals with the aswangs in exchange for power—trafficking slumdwellers as wet market for illegal human meat. In the documentary film called “Aswang,” the ferocious vampiric, shapeshifting monster metamorphoses into the perpetrators of the war on drugs and their parallel abilities to stir palpable fear amongst their prey. The film directed by Alyx Ayn Arumpac utilized the aswang not just as a folkloric monster but also as a creation for fear-mongering that simulates its character—disguised and clandestine in food hunting prioritizing the poor at the bottom of the food chain. “Aswang” follows a group of people entangled in the similar fate of being witnesses to the struggles of the extrajudicial killing (EJK) victims and exposing how their lives have changed during the current administration’s campaign against illegal drugs for its first two years.

pulsory for all sea- and land-based OFWs, provided they are not yet over 60 years of age, as defined under Republic Act (RA) 8042, also known as the Migrant Workers and Overseas Filipinos Act of 1995, and its 2010 amendment, provided under RA 10022. An OFW refers to a person who is to be engaged, is engaged, has been engaged in a remunerated activity in a state of which he/she is not a citizen, or on-board a vessel navigating the foreign seas other than a government ship used for military or non-commercial purposes, or on an installation located off-shore or on the high-seas. A person “to be engaged in a remunerated activity” refers to an applicant worker who has been promised or assured employment overseas. A prospective member should initially secure a Social Security Number (SSN). The good thing here is that this can now be done via online by visiting SSS’ official web site www. sss.gov.ph. One can start accessing the SS Number Issuance facility, which involves a 2-phase registration. Registrants are required to encode their personal data (complete name, date of birth and e-mail), beneficiaries and other contact information prior to the issuance of an SSN.

Registrants are also required to present their birth certificate issued by the Local Civil Registrar or the Philippine Statistics Authority (PSA) to any local SSS branches in the Philippines or foreign representative offices or submit these online. In the absence of a birth certificate, any of these documents may serve as alternative: n Baptismal certificate or its equivalent n Passport n Driver’s license n Professional Regulation Commission card Seaman’s Book (Seafarer’s Identification and Record Book). Meanwhile, those who already have an SSS number need only to make their payment as an OFW. Do keep in mind, however, that the assigned SS number is unique only to the member for use in all subsequent SSS transactions. I would also like to point out that the effectivity date of coverage of the OFW varies for every member classification. For sea-based workers, it takes effect on the first day of employment. On the other hand, coverage for land-based workers takes effect on the applicable month and year of the first contribution payment, similar to voluntary land-based See “Ignacio,” A11

As known and suspected drug users are gunned down with alarming regularity, the film paints a grim but compassionate picture of present-day life in Manila’s exceedingly mean streets when losing their loved ones became an everyday occurrence for the poor. The film touched upon “financial justice” wherein a person’s social standing determines whether they end up dead on a sidewalk, and how the poor become easy targets because they do not have the means to pay for the cost of justice—a cruel reality that many victims continue to face. In the case of People v. Bacalto (GR 11630710 August 14, 1997), the Supreme Court said that superstition is merely an outward manifestation of an inner fear for folkloric monsters like the aswang. Finished with their field chores in Isulan, Sultan Kudarat, farmers were on their way back home when they were accosted by several men who shot them at close range, saying they would be killed because they were “aswangs.” The hapless victims were gunned down, cold-bloodedly and ruthlessly while pleading that they be not shot because they were not “aswangs.” When the killers began discharging their firearms at their victims, the latter were in no position whatever to put up any defense or offer any resistance to the assault. The victims had no weapons. Three were killed, while one survived although seriously wounded. The perpetrators were convicted of murder and frustrated murder. The Court noted that this is an example of how fear can lead to murder, as no other motive for the crimes was

clearly shown. In People v. Sario (GR L-20754 and L-20759 June 30, 1966), the offender was charged with oral defamation or slander after calling the complainant an “aswang.” The offender said that the complainant inherited her power of witchcraft from her father and that she had probably bequeathed it to her child, who had become thinner as a consequence. Aswang is defined, the Court said, as “an injurious and evil character believed to be capable of assuming various and different forms, especially that of a dog, and harassing usually in the depth of night women who are about to give birth.” The Court stressed the term aswang is an offensive, malicious and derogatory imputation, as it charges the complainant with having taught her child evil practices—and act that is immoral and highly reprehensible. The offender also used the word “mangkukulam,” which the Court considered as undoubtedly an epithet of opprobrium. To say that complainant is a witch and sorceress is to impute to her a vice, condition or status that is dishonorable and contemptible since it accuses her of having employed the black art; of possessing supernatural power by reason of a covenant with evil spirits; and of having trafficked with the devil. Beware of the aswangs.

Kule is the monicker of Philippine Collegian, the official student publication of UP Diliman. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

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Wednesday, July 7, 2021 A11

Opec+ in crisis as specter of Intelligence. Education. Diploma harmful infighting looms again By Salma El Wardany, Javier Blas, Grant Smith & Khalid Al-Ansary Bloomberg Opinion

PEC+ was plunged into crisis as a worsening fight between Saudi Arabia and the United Arab Emirates blocked an oil-supply increase. What happens next will determine whether the breakdown of talks— which sent Brent crude climbing toward $80 a barrel—could escalate into a conflict as bitter and destructive at last year’s price war. At stake is the stability of the global economic recovery amid growing inflationary pressures, and the ability of the producers’ alliance to retain its hard-won control over the oil market. From international oil majors to Middle Eastern petrostates, the market will be watching keenly in the coming days as Riyadh and Abu Dhabi publish prices and negotiate volumes for their August crude supplies. The fear that events could spiral further out of control was evident. “We do not want a price war,” said Iraq’s Oil Minister Ihsan Abdul Jabbar. “And we do not want oil prices to rise to more than the current levels.” After several days of tense talks, the Organization of Petroleum Exporting Countries and its allies abandoned their Monday meeting. A disagreement over how to measure production cuts upended a tentative deal to boost output and swiftly devolved into an unusually personal and public spat between Saudi Arabia and the UAE. The last time those two countries clashed over oil policy, in December 2020, the UAE floated the idea of leaving the cartel. That dispute ended in a truce, but the breakdown in negotiations this time around was so severe that the group couldn’t even agree on a date for its next meeting. The immediate consequence of the collapse in talks is that the output hike expected for August won’t take place, leaving the market short of barrels just as the global economy recovers from the Covid-19 pandemic. In response, crude jumped above $77 a barrel in

Ignacio. . .

continued from A10

OFWs for permanent migrants. At present, the minimum Monthly Salary Credit (MSC) for landbased OFWs is at P8,000, equivalent to a contribution rate of P1,040 month, provided that those who are receiving monthly earnings lower than the required minimum contributions will also pay the corresponding amount. As a special privilege, OFWs may pay their contributions from January to September anytime within the year, whereas the last quarter covering October to December may be paid until the last day of the month of the following year. Our OFWs can make payments locally, overseas, and even online through the following channels: n SSS web site: PayMaya. n SSS Mobile App: BPIDebit/ Credit Cards, PayMaya. n Mobile app payments: CIS Bayad Center Inc./GCash, I-Remit, Inc. n Local Banks: Asia United Bank, Bank of Commerce, Bank One Savings Corp., East West Rural Bank, Partner Rural Bank, Philippine Business Bank, Rizal Commercial Banking Corp., Rural Bank of Lanuza, Union Bank of the Philippines/UnionBank Online, United Coconut Planters Bank. n Overseas Banks: Asia United Bank, Bank of Commerce, Philippine National Bank. n Bank’s web site/Mobile app: Security Bank Corp.-Digibanker/Security Bank Online, Union Bank of the Philippines-UnionBank Online. n Bank’s Auto-Debit Arrangement: BPI, Country Builders Bank, Inc., First Consolidated Bank, Metrobank, Philippine National Bank, PS Bank. n Local non-bank collecting partners: CIS Bayad Center Inc./GCash, ECPay, SM Mart Inc., PayMaya.

London for the first time in more than two years and then added to those gains in Asian trading on Tuesday. “With the oil market already in deficit and supply growth lagging oil demand growth,” the continuation of existing Opec+ production limits is likely to send prices higher, said Giovanni Staunovo, a commodities analyst at UBS Group AG. Over the medium term, the split could potentially have the opposite effect, bringing lower prices as countries jockey for position and start pumping more. The probability of this is low, Staunovo said. Major consumers were paying attention to the cartel’s failure. Within hours, the administration of US President Joe Biden urged the group to get its act together. The White House is “closely monitoring the Opec+ negotiations and their impact on the global economic recovery,” a spokesperson said. “Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.” In this regard, the Americans may find allies within the cartel. Opec+ has already been reviving some of the crude supplies it halted last year in the initial stages of the pandemic. The 23-nation coalition decided to add about 2 million barrels a day to the market from May to July, and the question before ministers on Monday was whether to keep going in the coming months. The cartel’s own data show that once-bloated oil inventories are back down to average levels as the recovery in fuel consumption continues. Demand in the second half will be 5 million barrels a day higher than in the first six months of the year, Opec Secretary-General Mohammad Barkindo said last week. The main proponent for opening the taps has been Russia. Its companies are keen to boost output, while rising domestic gasoline prices are an issue of growing importance before the parliamentary elections in September.

n Overseas non-bank collecting partners: Cashpinas, I-Remit, Inc., Pinoy Express Hatid Padala Services, Inc., Ventaja International Corp., LMI Express Delivery Inc. In appreciation and recognition of the growing numbers of OFWs worldwide, SSS has established foreign offices as early as 1998. In Asia, we have offices in Hong Kong, Macau, Taiwan (Taipei and Kaohsiung), Brunei Darussalam, Malaysia, and Singapore. In the Middle East, they may visit our representative offices in the Kingdom of Saudi Arabia (Riyadh, Jeddah, and Al Khobar), United Arab Emirates (Abu Dhabi and Dubai), Bahrain, Qatar, Jordan, Kuwait, Oman, and Israel. In North America, SSS offices are in Canada (Calgary, Toronto, and Vancouver), and the USA (Los Angeles, New York, and San Francisco). In Europe, our OFWs can transact in Italy (Rome and Milan), Spain, and in the United Kingdom (London). These are strategically housed in Philippine embassies, consulates, or overseas labor offices. Even if the OFWs will decide to stay in their host country or return to the Philippines when they retire, it’s still a great investment to be an SSS member until they reach 60 years old. There is an age-old adage that goes: “You will never really know what tomorrow will bring.” But what is more important is that no matter where you want to retire, you can be sure you can receive your pension from your SSS contributions after so many years of hard work and sacrifices. Have a productive week ahead.

Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Dr. Carl E. Balita

Entrepreneurs’ Footprints

enator Manny Pacquiao possesses an extraordinary intelligence. He is an international icon, hailed as one of the best boxers of all time not only because of his achievement but also his longevity in the sport. The Boxing Writers Association of America named him as Fighter of the Year in 2008 and 2009, and Fighter of the Decade in 2000. He is still ranked number 10 pound-for-pound fighter by the Ring Magazine in 2021. He is the only boxer in the sport’s history to win world titles in eight different weight classes. According to Forbes, Manny Pacquiao’s 2019 net worth is $26 million, while according to wealthygenius.com, Manny Pacquiao’s net worth in 2021 is around $375 million. The fight of the century with another boxing icon Floyd Mayweather in 2015 gave him $120 million. He is rich! If that is not intelligence, what is that called? Luck? Fortune? Even the top university in the world would probably be proud conferring him a doctoral degree. In Boxing Sports! Yes! But in Political Science? Well, he probably has learned more than what a regular political science student may have learned in school, only in some areas of politics. But in Political Science as a whole? No! While experience, they say, is the best teacher, the discipline of political science is not something learned only through the years of legislative career he had. There is more in political science education than what a congressman and a senator may have learned. More so, the process by which a Political Science degree is conferred upon him by the University of Makati (UMAK) gives more doubt than justification. Assuming that he has the competence, and rightfully deserves it based on the learnings he may have assimilated through his studies, does it make him more worthy of becoming the next president of the Republic of the Philippines? Well, the constitution does not require it. And no education guarantees one’s worthiness and preparedness to be president. If we had all the most educated people leading our government, why has our country been lagging behind in many indicators of good governance and progress for many years?

Inspite of the controversy, UMAK remains to be a respected and innovative institution of learning. Whether Senator Manny Pacquiao asked for it from UMAK or UMAK found in its academic freedom the initiative to offer it to an iconic Filipino (who could be the next president, only God knows), the conferment of the degree did not do Senator Manny Pacquiao any good. Except that Filipinos have realized even more that a degree seems to be a psychological pre-requisite to being and becoming a person worthy to lead. And to be honest, such is not true. There is more into leadership than just a degree, the intention to lead, and the wealth. This situation should bring us back into the appreciation of intelligence, learning and education—and the diploma.

The many faces of geniuses

Intelligence Quotient (IQ) was introduced to numerically measure the mental ability against the chronological age of a person based on the expected norm. In the 1900s, names like Binet, Simon, and Terman surfaced as they developed quantitative measures of these intelligences. Statistics play in labeling cognitive abilities in a normal distribution graph to indicate a person’s intelligence as compared with the rest of the same group and the population. An IQ of 140 and above is regarded as a genius, while the majority’s IQ is from 85 to 115. One of the highest IQ ever recorded (and removed in 1990 for inexactness of the number) in the Guinness World record is that of writer Marilyn vos Savant who has lived a quiet life since childhood.

An Irish child genius Ainan Cawley has an IQ of 263, and at eight was already taking third year chemistry and at nine memorized the first 518 decimal places of pi. Sho Yano, whose IQ is 200, started college at the age of nine and earned a medical doctor and PhD degree by the time he was 21. He has a blackbelt in taekwondo and started composing music at the age of four. Nathan Leopold had an IQ of 200, spoke nine languages at the age of 18, but was arrested for murder in 1924 after trying to commit the “perfect crime” for which he spent 33 years of his life in jail. Rick Rosner, whose IQ is 192 to 198, alleged to be the second-smartest man in the world, became a TV writer, bouncer, stripper and nude model. Evangelos Katsioulis, who has the highest tested IQ record of 198 in the world, according to World Genius Dictionary, works as a psychiatrist. Jacob Barnett, whose IQ is 170, was diagnosed with moderate to severe autism at two years old; became a published physicist at the age of 13; and worked on his PhD at the age of 19. Judit Polgar, whose IQ is 170, is dubbed the best female chess player of all time. Bill Gates’ IQ is 160. Albert Einstein’s IQ is estimated between 160 and 180. One of his popular quotation says that education is that which remains, if one has forgotten everything he learned in school. From his quotes, Einstein sounded as not a big fan of schools.

More than just IQ

Emotional Intelligence (EQ) has been an evidence-based challenger of IQ in its value to happiness, success and prosperity. Adversity Quotient (AQ) was also introduced as a model for resilience and tenacity in a person’s journey climbing up the mountain of success. Spirituality Quotient (SQ) was also introduced to introduce a purpose-driven existence amidst mortality. But these quantitative measures of intelligences are not exclusive. The introduction of multiple intelligences made it possible for humans to tap into an intelligence that is not necessarily academic and cognitive in nature. Introduced by Gardner in 1983, the Multiple Intelligences theory outlined intelligences, which initially were eight and evolved to become 10 intelligences, and counting. Linguistic intelligence finds

the right words to express. Logical mathematical intelligence qualifies things, makes hypothesis and proves them. Musical intelligence discerns sounds, pitch, tone, rhythm and timbre. Naturalist intelligence understands living things and reading nature. Spatial intelligence visualizes the world in multiple dimensions. Intrapersonal intelligence understands self, including what one feels and wants. Interpersonal intelligence senses people’s feelings and motives. Bodily-kinesthetic intelligence coordinates mind with the body. Other “candidate” intelligences that Gardner introduced in 2011 include Spiritual intelligences, Existential intelligences and Moral intelligences. Multiple intelligences provide for a valid perspective of intelligences and celebrate the diversity in human interests, aptitude and choices. Development is the innate qualitative progress of a human person’s capability. Growth is its quantitative counterpart. Development need not be taught, as it is a natural unfolding aspect of human existence. Learning, on the other hand, is a facilitated experience to allow the assimilation and mastery of a human activity. For learning, the modern society relied on education. Education is the process of receiving or giving systematic instruction or facilitating learning to gain knowledge, skills, attitude and values, the combination of which is referred to as competencies. Learning comes in formal, informal and non-formal manner. A diploma is a certification of one’s ability to demonstrate the outcomes of education. There is no doubt that Senator Manny Pacquiao has discovered, developed and perfected an intelligence that made him worthy of the respect of the world—and that is boxing. Generating the votes that made him an elected public servant may have been a manifestation of more of his intelligences that worked for him. But as to whether he needs a degree derived from a school to prove that he is a learned and educated public servant or a worthy leader of this country, there is something for sure that is more important than education and diploma. That is integrity. For feedback, please send e-mail to drcarlbalita@ yahoo.com.

Regional MPs express alarm over Thailand factory fire, call for immediate efforts to protect right to health

AKARTA: Southeast Asian parliamentarians today warn of the potential health risks and impacts of the Ming Dih Chemical factory explosion in Samut Prakan, outside Bangkok, on surrounding communities and residents of nearby provinces, including the capital. They urge the Thai government to take immediate and longterm action to tackle the impacts, including the ensuing toxic pollution, and to protect people’s health. “So far most residents in Samut Prakan and nearby provinces still do not know if they are at risk from this explosion and how to protect themselves. This information is vital. The government should act swiftly to protect the right to health of everyone and provide publicly accessible information on which chemicals have been released, and what is the likely impact of the explosion on surrounding natural resources, including air, water and land,” said Charles Santiago, a Malaysian Member of the Parliament, and Chair of Asean Parliamentarians for Human Rights (APHR). In the early hours of July 5, an explosion and ensuing fire occurred at the Ming Dih Chemical Co., Ltd plant in Bang Phli District, Samut Prakan Province, a few kilometers outside Bangkok. The Taiwanese-owned plastic foam and pellets-producing factory has the capacity to produce up to 30,000 tons of expandable polystyrene (EPS) per year, according to Greenpeace Thailand. EPS contains polystyrene and pentane, highly flammable vapors that can cause dizziness, drowsi-

ness, eye irritation, and respiratory tract irritation, APHR said. The group expressed concern that a range of harmful substances, including potentially carcinogenic chemicals, may have been released through the smoke throughout Monday and could continue in the coming days. The explosion damaged nearby buildings, and there were reports of numerous injuries and one fatality. Residents within a 5-kilometer radius of the explosion’s epicenter were ordered to evacuate by the Department of Disaster Prevention and Mitigation. Although the fire now appears to be under control, there are reports of smoke still emerging from the site and fears that more explosions could occur. “Now is the time to understand what the impacts of the fire and explosion might be, and ensure that all those still operating in the vicinity are adequately protected. Seeing firefighters with surgical masks fighting against potentially carcinogenic chemicals was an atrocious sight. The government should urgently provide

“This catastrophe is a clear sign that the government of Thailand must act much faster on the issue of toxic pollution. In particular, they must ensure that the Pollutant Release and Transfer Registers bill, which has been proposed for debate in the House of Representatives, is passed without delay,” said Charles Santiago.

adequate material for all those still at risk,” said Sarah Elago, an MP in the Philippines and APHR member. APHR urges the Thai government to immediately: n Distribute publicly accessible information on the chemicals that have been released in Samut Prakan and surrounding provinces, and their likely impacts on people residing in these areas, as well as information on how they can mitigate this impact. Provide charting of wind direction and expected persons most geographically at risk. This should include information about the potential health impacts on pregnant persons, women, children, the elderly and those with underlying conditions. n Provide a publicly available assessment of the impact of the explosion on natural resources, including water and land, in the affected area, including Bangkok, and their likely impacts on those residing in these areas, as well as information on how

they can mitigate this impact. n Provide adequate equipment, including respirators, to firefighters and others who may still be in the immediate area to monitor the situation. n Provide immediate relief to communities living within a 10-kilometer radius of the fire, such as access to first aid for contact with harmful chemicals and adequate protective equipment. n Provide medium-term solutions for communities living within a 10-km radius, including adequate gender and SOGI-sensitive shelter and access to food until it is safe for them to return to their respective areas. n Investigate immediately the causes of the incidents and the possibility of further damage. n Ensure that in the long-term, affected communities are adequately compensated for losses caused by the event and for the government to better mitigate risks of toxic pollution, notably through the passing of the Pollutant Release and Transfer Registers (PRTR) bill. “This catastrophe is a clear sign that the government of Thailand must act much faster on the issue of toxic pollution. In particular, they must ensure that the Pollutant Release and Transfer Registers bill, which has been proposed for debate in the House of Representatives, is passed without delay,” said Charles Santiago.

A12 Wednesday, July 7, 2021

HOST SITES OF AIRBNB Lower tariff on pork imports EXPAND TO RURAL PHL spells ₧1.36-B revenue loss By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

OST properties offered under the vacation rental platform Airbnb have expanded to the Philippine countryside. In an e-mail to the BusinessMirror, Airbnb global co-founder and Chief Strategy Officer Nate Blecharczyk said they were grateful that their Filipino hosts have stayed with them during the Covid-19 pandemic. “What we have seen over the last year is that the platform is incredibly resilient when it comes to supply and we see three trends,” he said, such as New Hosts usually “[follow] where guests are going—in this case, the number of listings in rural markets has grown, in part because that is where more people are going.” He added, with the gradual reopening of several leisure destinations, “Traffic to Airbnb from prospective hosts has shot up.” Also, as more travelers travel interzonally and large social events are permitted, “Our past experience has indicated that this will generate new active Hosts.” Blecharczyk stressed, “Given the financial challenges facing the world, we know Airbnb is providing critical economics to our existing hosts and we know that with this historic travel rebound, it will be a powerful incentive for others to join our community as vaccination rates increase, markets open up and cross border travel returns in time.”

Guests have supported tourism jobs

In a news statement, Airbnb also said it supports the Philippine government’s initiatives to boost the national economy during the pandemic, by driving the recovery of tourism. According to the Department of Tourism (DOT), close to 99 percent of tourism enterprises are composed of micro, small, and medium enterprises (MSMEs). A survey of Airbnb from February 1, 2021 to March 3, 2021 of Homes hosts who hosted a trip during 2020, or Homes guests who took a trip in 2020, showed that Host-

ing is an economic lifeline for thousands of Filipinos on our platform. The survey showed 57 percent of Airbnb Hosts said the income they’ve earned through hosting has helped them to stay in their homes, and over half want to find more ways to host with Airbnb. “While the short-term rental industry is a fairly new phenomenon in the Philippines, it is already playing a key role in helping to create a more diverse and resilient tourism sector, while also fostering entrepreneurship and supporting jobs across the nation. Importantly, Hosts on Airbnb are committed to helping to accelerate the recovery of the broader tourism industry when travel returns. Over a third of Filipino Airbnb Hosts share recommendations with guests on their favorite local restaurants and businesses within their community,” said the company. Research by the Oxford Economics estimated that, in 2019, Airbnb guests visiting Manila spent an estimated $257 million and directly supported almost 16,000 jobs.

More properties up for accreditation

The company also predicts more Host properties in the Philippines will be accredited by DOT. The company said, “We support the DOT’s efforts on the accreditation of tourism establishments, and have been working closely with the DOT to encourage and equip Hosts to apply for relevant accreditation online via the DOT’s Online Accreditation System.” Houses, condominium units, and other lodgings being offered for lease under Airbnb are accredited by the DOT as either Mabuhay accommodations or Homestays. As of April 30, 2021, the DOT has accredited 4,201 Mabuhay accommodations and 172 Homestays. Even if all of these are Airbnbs, these are just 11 percent of the 39,000 total Airbnb listings in the country. (See, “Less than 11% of total Airbnbs in the PHL are DOTaccredited,” in the BusinessMirror, May 30, 2021.) Mabuhay accommodations refer to tourist inns, pension houses, motels, bed and breakfasts, guest houses, hostels, and other similar accommodation establishments.

By Bernadette D. Nicolas

@BNicolasBM

EVENUE loss due to lower tariff rates on pork imports reached an estimated P1.356 billion from early April to early June, the Bureau of Customs (BOC) said.

Customs Commissioner Rey Leonardo Guerrero said they saw a spike in pork imports to 76 million kilograms (kg) from April 9 to June 11 after President Duterte signed the Executive orders (EOs) cutting tariff rates on incoming pork imports and hiking the minimum access volume (MAV) for a temporary period to help stabilize the domestic supply and prices of pork. Pork imports during this period for both in-quota and out-quota shipments have already accounted for 69 percent of the total 110 million kg of swine meat brought into the country from January to June 11. “For the period April 9 to June 11, 2021, the BOC posted a total collection of P846.96 million. We estimated the revenue losses from EOs 128 and 134 to have reached P1.356 billion for this period,” Guerrero reported to Finance Secretary Carlos G. Dominguez III in a recent Department of Finance (DOF) Executive Commit-

tee meeting. Dominguez earlier said they expect revenue losses from lower pork import tariffs to reach P11.2 billion this year. He also said the revenue losses will be far outweighed by the P50.1-billion projected savings to be gained by consumers from lower pork prices and from the easing of inflationary pressures. Pork imports in April this year jumped by 500 percent to 24.45 million kg from 4.07 million kg in the same period last year, Guerrero said. In May, pork imports also surged by 506 percent year-on-year to 36.5 million kg from 6.02 million kg. From June 1 to 11 this year, 15.14 million kg of pork shipments entered the country. The DOF did not state the volume of pork imports from June 1 to 11 last year. In-quota pork imports amounted to 10.46 million kg in April, 10.47 million kg in May, and 2.78 million kg from June 1 to 11 this year.

On the other hand, out-quota imports reached 14 million kg in April, 26.03 million kg in May and 12.36 million kg from June 1 to 11. Under EO 128, pork tariffs were temporarily cut to 5 percent for in-quota imports and to 15 percent for out-quota imports for the first three months of the measure, and to 10 percent (in-quota) and to 20 percent (out-quota) in the next nine months. Prior to EO 128, tariff rates for pork imports were at 30 percent (in-quota) and 40 percent (out-quota). However, this was only in effect from April 7 to May 14 after President Duterte issued EO 134, repealing the previous issuance. This, after lawmakers expressed concern that the too-low pork tariff rates will flood the market with imported pork and deepen the misery of local hog raisers already reeling from the impact of African Swine Fever. The signing of EO 134 paved the way for the slight increase in pork tariff rates to 10 percent (in-quota) and to 20 percent (out-quota) for the first three months, and to 15 percent (in-quota) and to 25 percent (out-quota) in the next nine months. The one-year effectivity of EO 134 began on May 15, 2021. Duterte also issued EO 133, hiking the MAV for pork imports this year to 254,210 metric tons (MT) from the current 54,210 MT. Any unavailable balance at the end of 2021 shall not be carried over to 2022.

Queen Elizabeth hails PHL nurses for their work in pandemic By Recto Mercene @rectomercene

UEEN Elizabeth II has lauded the Filipino nurses employed by Britain’s National Health Service, saying: “They bring exceptional care and comfort to their patients.” In her message to President Duterte on the 75th anniversary of diplomatic relations between the Philippines and Britain, the Queen said: “I wanted to express my sincerest gratitude for their work, especially in response to the coronavirus.” The 95-year-old monarch added in her message, coursed through British Ambassador Daniel Pruce, “I am delighted to convey to Your Excellency my best wishes to the people of the Philippines,” concluding her message by saying, “I hope we may look forward to better times in the future.” Last month, Prince Charles expressed his admiration for Filipino medical frontliners in the UK, calling them “wonderfully selfless people” in a message to celebrate this year’s 75 anniversary of the UK-Philippines diplomatic ties. He lauded the Filipino caregivers for their dedication in fighting the Covid-19 pandemic. Prince Charles letter said the pandemic “provided the foundation for us to work towards a better future,” as thousands of Filipino medical workers worked at the frontlines of the UK’s National Health Service. “To these wonderfully selfless people I wanted to offer my most heartfelt gratitude

for the outstanding care and comfort you give to your patients. You have made a truly remarkable contribution to the health and well-being of so many people across the country at such a difficult time,” said the heir to the British throne. He also extolled the “remarkable contribution” of Pinoy medical frontliners through the challenges of the pandemic. The UK has supported the Philippines’s coronavirus response, particularly by ensuring equitable distribution of vaccines in the Philippines. The UK has committed funds for vaccinesharing facility Covax, where the Philippines is among recipients. The Royal Family, aside from their heartwarming message had also bestowed special honors on some Filipinos. On January 2 during the New Year honors, Queen Elizabeth II bestowed Filipino nurse Charito Romano with a British Empire Medal for her outstanding work at Arbrook House Care Home in the UK during the Covid-19 pandemic. The British Empire Medal is awarded for meritorious civil or military service worthy of recognition by the Crown. Recipients are entitled to use the postnominal letters “BEM” and it is divided into civil and military medals in a similar way to the Order of the British Empire itself. Romano’s medal was given for her “hands on” service to the local community. This could be a long-term charitable or voluntary activity, or innovative work of a relatively short duration that has made a significant difference.

THE COUNTRY UNDERNEATH Ang Lakbay ng 105 Milyon, a mural by artist Archie Geotina, is seen on the ceiling of the Salcedo Underpass in Makati City. The artwork was inspired by the artist's travels to iconic destinations in the country. It aims to “celebrate the heroes and stories of the past, challenge the present, and invest in a stronger culture for our future.” NONIE REYES

Gordon: Vaccinated persons can still be Covid carriers By Claudeth Mocon-Ciriaco

Correspondent

OTING that even a fully vaccinated person is still a “potential carrier” of Covid-19, Philippine Red Cross Chairman and CEO Senator Richard Gordon stressed the need for travelers to still undergo an RT-PCR test after the Inter-Agency Task Force (IATF) relaxes its restriction for interzonal travel for fully vaccinated persons. “Kailangan patuloy pa rin ang ating pagtetest upang maihiwalay ang mga healthy individuals sa mga apektado ng Covid-19 [We still need to test to separate those infected from healthy individuals],” Gordon said, stressing that there is a high possibility of infecting the unvaccinated. PRC, the leading organization for Covid-19 testing, has now conducted 3,382,981 tests nationwide, or 23 percent of the total tests done nationwide.

Covid log

THE total number of Covid-19 cases in the country rose to 1,445,832 after 4,114 ad-

ditional infections were logged on Tuesday. There were also 6,086 recoveries and 104 deaths recorded by the Department of Health. Of the total number of cases, 3.4 percent (49,613) are active, 94.8 percent (1,370,923) have recovered, and 1.75 percent (25,296) have died. Twenty-eight duplicates were removed from the total case count. Of these, 22 are recoveries. Moreover, 38 cases previously tagged as recoveries have been validated to be active cases and 63 cases previously tagged as recoveries were reclassified as deaths after final validation. All laboratories were operational on July 4, 2021 while nine laboratories were not able to submit their data to the Covid-19 Document Repository System. Based on data in the last 14 days, the 9 non-reporting labs contribute, on average, 5.2 percent of samples tested and 6.7 percent of positive individuals.

Vaccinated, but still carrier

Gordon has reiterated that even a fully

vaccinated person is still a potential carrier of Covid-19, and there is a high possibility to infect the unvaccinated. “To beat this virus, we need to test regularly, isolate and treat the affected individuals, and vaccinate, so that people can safely return to work, can now go back to school, and the faster we can open our economy,” Gordon added. Earlier, the IATF said fully vaccinated individuals need not present swab test results if they want to travel within the country. Under the IATF Resolution 124-B, interzonal travelers who are fully vaccinated individuals are now only required to present proof of complete Covid-19 vaccination instead of Covid-19 test results. For interzonal travel allowed by the task force, a fully vaccinated individual, regardless of age, may now present the vaccination card instead of complying with a local government unit Covid-19 testing requirement. A person is considered fully vaccinated after at least two weeks since receiving the second shot of a two-dose vaccine or the first of a single-dose brand.

Editor: Jennifer A. Ng

Companies BusinessMirror

Wednesday, July 7, 2021

San Miguel: Skyway 3 toll collection gets green light

By Lorenz S. Marasigan

@lorenzmarasigan

an Miguel Corp. will start collecting toll on the 18-kilometer Skyway Stage 3 next week, with its chief honcho saying that the company will charge “lower than the original proposed rates.” Ramon S. Ang, the company’s president, said the Toll Regulatory Board (TRB) has issued the toll operating permit and the notice to start collecting toll, allowing the company to charge motorists expressway fees starting July 12. The company allowed the public to use the thoroughfare for free for almost seven months. “We thank the TRB for helping us determine the most equitable toll rates for our motorists. We know from experience that times are hard for many, and even a little relief for motorists can go a long way. These

toll rates reflect our deferral of the collection of a substantial amount of the cost to build Skyway 3. We also further lowered the rates for those traveling shorter distances,” he said. Sought for clarification, an executive said the revised toll rates are still being discussed. SMC said the final rates will be posted on its social media pages. Ang noted that the collection of toll will ensure “continued efficient operations, maintenance, and safe driving conditions on the elevated expressway—particularly as daily traffic puts a heavy strain on the

By Lenie Lectura @llectura

P BusinessMirror file photo

road infrastructure, necessitating significant maintenance costs.” The food-to-infrastructure conglomerate spent over P80 billion to complete the project within two administrations, a significant amount of time considering its length. The delays were caused by right-of-way issues, realignments, and redesigns. “We aggressively pursued the completion of Skyway 3 despite all of the obstacles, including rightof-way issues, because our people need a long-term solution to traf-

fic. We believe it can also help boost our economy over the long term as it provides, finally, a seamless connection between North and South Luzon. With the same dedication, we will pursue other major road and mass transport projects to benefit our countrymen,” Ang said. Skyway 3 has a design capacity of 200,000 vehicles per day. According to the Department of Public Works and Highways (DPWH) it diverts at least 75,000 vehicles per day from Edsa and C5.

IPO of Filinvest REIT secures nod By VG Cabuag @villygc

he Securities and Exchange Commission (SEC) has approved the P14.35-billion initial public offering (IPO) of a real estate investment trust (REIT) sponsored by Filinvest Land Inc. (FLI). In its en banc meeting on July 6, the SEC approved the registration statement of Cyberzone Properties Inc. for a total of 4.89 billion common shares for listing on the main board of the Philippine Stock Exchange. Cyberzone Properties, which

Converge doubles data transmission capacity

onverge ICT Solutions Inc. said on Tuesday it is doubling the data transmission capacity of its metro backbone as it prepares for the use of “nextgeneration, hyper-scale capacity applications over its fiber optic network.” Dennis Anthony H. Uy, the company’s CEO, said the group is doubling its data transmission capacity from 400 Gigabits per second (Gbps) to 800 Gbps as the Philippines continues to implement digital transformation initiatives. “Developments in cloud computing, big data, virtual reality, combined with the increasing demands on remote storage and streaming technology is creating massive demand on our network and data centers. We want to respond to the high-capacity needs of our network and customers, and to be able to accommodate any newgeneration technologies they may have,” said Uy. Converge’s metro backbone connects multiple networks together, allowing them to communicate with each other and push traffic between and among them. Lorenz S. Marasigan

will change its name to Filinvest REIT Corp., will offer up to 1.63 billion common shares at an indicative price of up to P8.30 per share, with an overallotment option of up to 163.41 million common shares. FLI currently owns the offer shares. FLI will receive the entire proceeds of the offer, which shall be reinvested in the Philippines, pursuant to the Real Estate Investment Trust Act of 2009. New investors will corner 36.74 percent of the company’s issued and outstanding common shares, while existing shareholders will retain the remaining 63.26 percent, should the company exercise the oversub-

Petron building power plant for Bataan refinery

scription option. As mandated by law, the company shall distribute to shareholders at least 90 percent of its annual distributable income as dividends. Filinvest REIT expects to conduct the IPO from July 19 to 28 and debut on the PSE on August 6, based on the latest timetable it submitted to the SEC. BPI Capital Corp. and UBS AG, Singapore Branch were picked as joint global coordinators and bookrunners for the offer. BPI Capital and China Bank Capital Corp. will be the offer’s local lead underwriter while First Metro Investment Corp. and SB Capital Investment Corp. will

serve as local co-lead underwriters. The company’s portfolio currently includes 17 office buildings with an aggregate gross leasable area of 299,158 square meters for office spaces and 2,204 square meters for retail. The office spaces primarily cater to the information technology and business process outsourcing industry in Alabang and Cebu. The FLI-sponsored REIT tapped ProOffice Work Services Inc. as its property manager and FREIT Fund Managers Inc. as fund manager.

Benny Tantoco, father of luxury retail, dies at 100

ienvenido “Benny” R. Tantoco Sr., hailed as the Philippines’s father of luxury retail and the patriarch of the Rustan’s Group, died on Tuesday at age 100. The former ambassador to the Vatican, who celebrated his 100th birthday in April, was survived by his six children—Bienvenido Jr., Nedy, Menchu Lopez, Marilen Tantoco, Merl Pineda and Tokie Enriquez—and 21 grandchildren, 40 great grandchildren and one great-greatgrandchild. In 1952, Lolo Benny as he was called, and wife Gliceria “Glecy” Rustia-Tantoco brought back unique products from their trips abroad to show to friends in the living room of their house in San Marcelino in Manila, according to the Rustan’s website. As more and more people visited their home to view Glecy’s product selections, the couple decided to open their very first store in Old Manila’s San Marcelino Street. Over six decades later, the little shop evolved into the retail giant now known as the Rustan Group of Companies. The name Rustan’s was a combination of the couple’s surnames, Rustia and Tantoco. Rustan’s has grown big over the years, opening its luxury department stores in major cities. It also launched several boutique stores and licensed more than 2,000 international brands to the company. It established Rustan Commercial Corp. Inc. in 1957 to operate its luxury department store; Rustan Marketing Corp. in 1964, the vehicle to bring a diversified portfolio of brands into

Glecy and Benny Tantoco. Photo from www.rustans.com

the Philippines; Store Specialists Inc. in 1987, which has become the largest operator of the Philippine franchises for the world’s top brands; Royal Duty Free in 1993, the number one dutyfree store in Subic; Rustan Coffee Corp. Inc. in 1997, the operator of the famous coffee chain Starbucks; Sta. Elena Golf and Country Estate, an exclusive residential estate and premier golf destination located south of Manila; and Adora in 2017, a boutique luxury department store. Rustan’s may have grown over the years, but only one company—SSI Group Inc.— went public. In 2018, the Gokongwei group bought Rustans Supercenters for P18 billion, as the family business focused on selling luxury goods. The Rustan’s Group’s grocery chain operates brands, such as Marketplace by Rustan’s, Rustan’s Supermarket, Shopwise and Wellcome. VG Cabuag

ETRON Corp., the country’s largest oil company, said it expects to finish in the second half of 2022 the construction of a power plant that will cater to the power requirements of its Bataan refinery. The oil firm said in a preliminary prospectus to be filed with the Securities and Exchange Commission (SEC) that it is currently constructing a new power plant, with a capacity of 184 megawatts (MW), to replace some of its old generators and generate incremental power and steam. “The power plant is designed to generate power and steam required by the Refinery, utilizing cheaper feedstock (petcoke) in lieu of more expensive fuel oil. In addition, products previously used as refinery fuel will be converted to high-value products. Construction is expected to be completed by the second half of 2022.” The Petron Bataan Refinery underwent a planned total plant shutdown from February 10 to May 22 this year. To serve petroleum demand during the refinery shutdown, Petron imported finished petroleum products. Opportunity maintenance works were done during the period. Petron said the refinery startup proceeded on May 23 and that it is currently operating stably. Commercial operations resumed last June 1. Other investments in the Petron Bataan Refinery include the expansion of the polypropylene plant and initiatives to reduce production costs and improve crude processing flexibility.

“The expansion at the polypropylene plant is expected to be completed by the end of 2021 and will increase its production capacity from 160,000 MT [metric tons] to 225,000 MT annually,” it added. The Petron Bataan Refinery is capable of producing a range of white petroleum products, such as LPG, naphtha, gasoline, kerosene, jet fuel and diesel, with no residual fuel oil production. It also produces petrochemical feedstocks—benzene, toluene, mixed xylene, and propylene. It has its own product piers and two offshore berthing facilities, one of which can accommodate very large crude oil carriers. In December 2016, it acquired the cogeneration power plant from SMC Powergen, Inc., which consists of four turbo generators with a combined capacity of 140 MW and four solid fuel fired circulating fluidized bed boilers. This ensures the sufficient and reliable supply of steam and power for the Petron Bataan Refinery and exports excess power to the grid. In addition to the Petron Bataan Refinery, the company also owns and operates a fuel additives blending plant in the Subic Bay Freeport Zone with a capacity of 12,000 MT per year. Petron also operates a lube oil blending plant in Tondo, Manila. The capacity of the New Lube Oil Blending Plant is 90,000,000 liters per year per shift. Petron ended 2020 with a market share of 22.1 percent. It has more than 2,000 retail service stations as of end-March this year. Most of these stations are located in Luzon, where demand is heaviest.

Companies BusinessMirror

Wednesday, July 7, 2021

Aboitiz announces early redemption of retail bonds

By VG Cabuag

@villygc

boitiz Equity Ventures Inc. (AEV) on Tuesday said it will fully redeem the outstanding series B of its fixed-rate retail bonds issued in 2015, a year ahead of its 2022 maturity schedule. As the company is exercising its early redemption option, AEV will prepay the 2015 series B bonds for P8.467 billion at an early redemption price of 100.5 percent of its face value on August 6.

“The prepayment of the bonds is part of our continuing efforts to reduce costs and further improve profitability for all of our stakeholders,” the company’s CFO Manuel Lozano said.

CEB cuts price of 24-hour swab test

The said debt paper was listed on the Philippine Dealing Exchange Corp. on August 6, 2015 for secondary market trading. The 2015 series B bonds were part of the first tranche of AEV’s P25 billion debt securities program, issued in three series--series A, with a fixed interest rate of 4.4722 percent per year, which matured in 2020; the series B seven-year bonds, with a fixed interest rate of 5.0056 percent, which will mature in 2022; and the series C 12-year bonds, with a fixed interest rate of 6.0169 percent, which will mature in 2027. The 2015 fund raising was crucial for AEV’s continued overall growth as it include planned acqui-

mutual funds

@rectomercene

ebu Pacific (CEB) said it made its Test Before Boarding (TBB) process more affordable as it reduced the price of its RT-PCR test with a guaranteed 24-hour turnaround time by nearly 30 percent to P2,500. Exclusive for CEB passengers, this is the cheapest rate offered by any local carrier, according to the airline. This RT-PCR test is offered by CEB’s partner, Safeguard DNA Diagnostics Inc. (SDDI), which has facilities in Mandaluyong, Davao, and Bacolod. Unvaccinated passengers and those who have not yet completed the required complete dosage may still need to secure negative RTPCR tests upon entry if their destination’s local government unit (LGU) requires it. “We are committed to keep not only our flights as affordable as possible, but even our services across the board. As some local and international destinations may still require negative RT-PCR test results, we made sure we are able to provide the cheapest rates in the market which may conveniently be availed by everyJuan through our website,” said Candice Iyog, CEB vice president for Marketing and Customer Experience. Passengers booked on Cebu Pacific and Cebgo can easily choose and book appointments via http:// bit.ly/CEBTestOpt ions. From there, they will be redirected to each laboratory’s page to finalize

their schedule online. The airline also offers special rates through its two other accredited partners, Health Metrics, Inc. (HMI) and Philippine Airport Diagnostic Laboratory (PADLAB). The former offers its RT-PCR tests released within 48 hours at only P2,500, while its tests with a guaranteed 24-hour turnaround period is priced at P3,200. PADLAB offers its RT-PCR tests with a guaranteed 24-hour turnaround at P2,899, while its tests released within 48 hours is available for only P2,699. This laboratory also offers antigen tests exclusively for CEB passengers for only P675 at the TBB testing facility at the Ninoy Aquino International Airport Terminal 3. Testing is just one out of the three key steps CEB strictly implements to regain passenger confidence. Other approaches include safety and sanitation, as well as track and trace. The airline said it continues to implement a multi-layered approach to safety and has been rated 7/7 stars by airlineratings.com for its Covid-19 compliance. Passengers are also constantly reminded to register in the Department of Transportation’s Traze App for a more efficient contact tracing process. CEB urged its guests to always check with the LGU of their destination for the latest updates. For a list of travel requirements, testing options, flexibility options and frequently asked questions, passengers may visit www.cebupacificair.com.

July 6, 2021 NAV One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

225.81

8.58%

-3.12%

-3.63%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4496

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1167

35.62%

0.25%

1.88%

10.4%

10.45%

-7.44%

-5.9%

-0.52%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7855 9.98%

-3.28% n.a.

-2.29%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7702 12.27%

-1.89% n.a.

3.86%

First Metro Save and Learn Equity Fund,Inc. -a 4.9665

11.7%

-0.98%

-1.77%

0.51%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4

0.731

3.37%

-4.36%

-6.12%

-1.29% n.a.

0.58%

MBG Equity Investment Fund, Inc. -a

By Recto L. Mercene

sitions and further investments. Majority of the proceeds was used to finance its cement venture with the acquisition of Lafarge’s cement manufacturing assets in the Philippines, through a joint venture with CRH Plc. AEV said it is coordinating with both BPI Asset Management and Trust Corp. and the Philippine Depository and Trust Corp., the registrar and paying agent of the 2015 series B Bonds, for the corresponding notices and computation of the amounts due to the bondholders of the 2015 series B Bonds. Refinancing maturing debt and prepaying existing higher-cost debt will be an ongoing theme for AEV this year, the company said.

-0.62%

102.53

27.33%

PAMI Equity Index Fund, Inc. -a

46.2933

10.17%

-1.12%

-2.51%

-1.18%

Philam Strategic Growth Fund, Inc. -a

485.65

8.73%

-1.29%

-2.89%

-0.68%

Philequity Alpha One Fund, Inc. -a,d,5

1.1019

20.27% n.a. n.a.

0.42%

Philequity Dividend Yield Fund, Inc. -a

1.1684

10.99%

-1.2%

-1.96%

0.02%

Philequity Fund, Inc. -a

34.6313

11.64%

-0.72%

-1.39%

-0.4%

9.09% n.a. n.a.

-1.16%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9024

Philequity PSE Index Fund Inc. -a

4.7429

10.91%

-0.5%

-1.75%

-1.01%

794.61

10.91%

-0.38%

-1.85%

-0.88%

Soldivo Strategic Growth Fund, Inc. -a

0.7244

11.41%

-4.68%

-4.86%

0.77%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5888

8.72%

-0.97%

Philippine Stock Index Fund Corp. -a

-3.03%

-3.27%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9074 10.27%

-0.75%

-2%

-1.12%

United Fund, Inc. -a

-1.42%

-1.07%

-0.45%

-0.17%

-1.29%

3.304

10.28%

-3.79%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 106.6632

10.9%

-0.83%

Primarily invested in foreign currency securities $1.2645

27.07%

7.62%

8.52%

5.12%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8135

ATRAM AsiaPlus Equity Fund, Inc. -b

28.87%

12.67%

12.64%

8.41%

1.68%

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

1.6966

7.66%

1.24%

-1.62%

ATRAM Philippine Balanced Fund, Inc. -a

2.2693

8.26%

0.66%

-0.71%

-0.7%

First Metro Save and Learn Balanced Fund Inc. -a 2.6347

6.77%

1.48%

-0.34%

0.29%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1976

4.27% n.a. n.a.

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

1.9732

5.32%

2.75%

0.46%

0.47%

PAMI Horizon Fund, Inc. -a

3.729

4.38%

2.03%

-0.72%

-1.56%

Philam Fund, Inc. -a

16.7134

5.22%

2.15%

-0.7%

-1.32%

Solidaritas Fund, Inc. -a

2.0839

6.13%

0.78%

-0.45%

-0.49%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5571 5.79%

-0.18%

-1.7%

-0.45%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9948

2.72% n.a. n.a.

-2.72%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.921

4.6% n.a. n.a.

-2.97%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9096

6.14% n.a. n.a.

-2.52%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.8976

7.6%

-0.45%

-1.87%

1.12%

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

$0.03813

-0.91%

3.11%

1.27%

-2.53%

PAMI Asia Balanced Fund, Inc. -b

$1.1263

13%

4.05%

4.72%

-2.08%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7667 21.49%

9.61%

8.84%

5.62%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2203 10.91%

5.55%

4.88%

1.51%

0.4%

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

372.54

1.74%

3.21%

2.43%

ATRAM Corporate Bond Fund, Inc. -a

1.9288

-0.71%

1.24%

0.18%

1.5%

Cocolife Fixed Income Fund, Inc. -a

3.2304

1.16%

3.76%

4.32%

0.49%

Ekklesia Mutual Fund Inc. -a

2.263

-1.74%

2.24%

1.21%

-1.44%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4427 -0.46%

3.31%

1.68%

-0.43%

Philam Bond Fund, Inc. -a

4.487

-3.16%

4.43%

1.24%

-3.18%

Philam Managed Income Fund, Inc. -a,6

1.3214

1.66%

4.17%

2.75%

0.02%

Philequity Peso Bond Fund, Inc. -a

3.9856

0.62%

4.54%

2.03%

-0.39%

Soldivo Bond Fund, Inc. -a

1.0382

0.89%

4.82%

1.65%

-0.36%

-0.5%

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PSE STOCK QUOTATIONS

July 6, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

46.9 114.6 89 25.65 10.44 49 10.88 19.58 23 55.85 22 121.9 77.2 1.53 4.3 0.59 3.05 1.34 0.395 0.7 215 2,410

46.95 114.7 89.05 25.7 10.48 49.35 11 19.66 23.1 56 22.1 122.3 77.25 1.55 4.35 0.6 3.18 1.4 0.4 0.71 219 2,500

46.7 115.4 90 25.6 10.66 49.9 10.86 19.68 22.75 56 21.1 125.2 77 1.48 4.38 0.6 3.08 1.44 0.39 0.69 212 2,410

46.95 115.5 90 25.75 10.7 50.5 11 19.68 23.1 56 22.2 125.3 77.45 1.57 4.38 0.6 3.08 1.44 0.4 0.7 220 2,410

46.7 114.5 88.9 25.5 10.36 49 10.86 19.58 22.75 55.8 21.1 121.9 77 1.48 4.35 0.6 3.02 1.34 0.39 0.69 210 2,410

46.9 114.6 89 25.65 10.48 49 11 19.58 23.1 56 22.1 121.9 77.2 1.55 4.35 0.6 3.05 1.38 0.4 0.7 220 2,410

17,600 672,280 928,720 55,200 312,500 1,619,200 37,000 22,500 970,000 2,980 388,800 389,050 8,250 1,918,000 29,000 350,000 74,000 61,000 240,000 8,000 29,790 35

823,210 77,153,330 82,825,773 1,415,910 3,297,554 80,480,900 406,120 441,556 22,307,640 166,837.50 8,505,780 47,808,466 635,641 2,921,500 126,210 210,000 225,050 85,100 94,800 5,530 6,323,722 84,350

556,205 -14,348,358 24,759,884 716,035 122,650 -20,094,270 19,620 2,353,935 106,070 5,304,470 363,740 690.0001 2,843,666 12,050

INDUSTRIAL AC ENERGY 8.69 8.7 8.5 8.7 8.48 8.7 42,104,900 363,075,429 ALSONS CONS 1.3 1.31 1.31 1.34 1.3 1.3 1,227,000 1,597,070 ABOITIZ POWER 25 25.1 25.35 25.4 24.85 25 2,021,000 50,642,270 0.76 0.77 0.78 0.79 0.76 0.76 34,608,000 26,740,730 BASIC ENERGY 30.1 30.2 30.6 30.6 30.05 30.1 674,900 20,497,175 FIRST GEN FIRST PHIL HLDG 78.3 78.35 78.2 78.4 78.1 78.35 230,890 18,089,408.50 MERALCO 283 283.6 283 284.8 282 283.6 147,650 41,875,504 18.38 18.48 18.66 18.8 18.1 18.38 1,526,900 28,404,294 MANILA WATER 3.57 3.6 3.73 3.79 3.57 3.57 4,835,000 17,777,920 PETRON 4.05 4.12 4.04 4.12 4.04 4.12 33,000 134,260 PETROENERGY PHX PETROLEUM 12.5 12.98 12.6 13.08 12.6 13.08 30,700 400,844 PILIPINAS SHELL 20.5 20.55 20.2 20.55 20.2 20.55 428,700 8,770,145 12.74 12.8 12.4 12.88 12.4 12.78 84,600 1,083,312 SPC POWER 17.5 17.58 17.62 17.62 17.5 17.5 3,300 57,948 VIVANT AGRINURTURE 6.15 6.2 6.25 6.31 6.15 6.2 1,412,700 8,838,166 AXELUM 2.91 2.93 2.92 2.94 2.91 2.93 146,000 426,670 68.65 76.95 76.95 76.95 76.95 76.95 600 46,170 BOGO MEDELLIN CNTRL AZUCARERA 13.46 14.38 14.3 14.3 13.42 14.3 5,200 74,184 CENTURY FOOD 23.4 23.45 23.6 23.95 23.4 23.45 16,636,100 390,963,425 DEL MONTE 15.58 15.6 15 15.58 15 15.58 481,000 7,325,608 DNL INDUS 8.44 8.6 8.65 8.65 8.35 8.6 2,994,800 25,494,802 12.28 12.3 12.14 12.4 11.82 12.28 15,011,600 177,782,204 EMPERADOR 82 82.4 84 84.5 81.05 82.4 352,470 29,099,008.50 SMC FOODANDBEV ALLIANCE SELECT 0.63 0.67 0.66 0.67 0.62 0.67 501,000 328,170 FRUITAS HLDG 1.37 1.38 1.38 1.39 1.37 1.38 3,603,000 4,961,080 GINEBRA 98.85 98.9 98.9 100 95.1 98.9 29,900 2,967,451.50 213.8 214 217 217.6 214 214 368,340 79,146,156 JOLLIBEE 31.35 31.4 31.35 31.35 31.35 31.35 1,100 34,485 LIBERTY FLOUR MACAY HLDG 7.55 7.96 7.55 7.55 7.55 7.55 500 3,775 MAXS GROUP 7.11 7.12 6.87 7.15 6.87 7.12 1,352,900 9,547,412 0.29 0.295 0.29 0.295 0.285 0.29 2,360,000 680,150 MG HLDG 16.44 16.48 16.9 17 16.3 16.44 13,180,400 218,282,364 MONDE NISSIN SHAKEYS PIZZA 8.37 8.38 8.39 8.39 8.21 8.37 105,200 876,246 ROXAS AND CO 1.03 1.04 1.03 1.04 1.01 1.04 2,061,000 2,111,040 RFM CORP 4.7 4.75 4.71 4.75 4.7 4.75 59,000 278,190 1.45 1.47 1.42 1.42 1.41 1.41 8,000 11,310 ROXAS HLDG SWIFT FOODS 0.146 0.147 0.153 0.154 0.145 0.146 37,200,000 5,485,140 UNIV ROBINA 143.5 144 147.6 147.7 144 144 595,460 86,657,307 VITARICH 0.85 0.86 0.87 0.88 0.86 0.86 1,817,000 1,567,080 2.32 2.52 2.4 2.4 2.29 2.29 5,000 11,890 VICTORIAS CONCRETE B 59.9 62.8 59.9 59.9 59.9 59.9 80 4,792 CEMEX HLDG 1.42 1.43 1.37 1.46 1.37 1.43 30,009,000 42,710,910 DAVINCI CAPITAL 3.01 3.02 3.09 3.09 3 3.02 1,128,000 3,409,370 EAGLE CEMENT 15.68 15.7 15.5 15.7 15.5 15.68 287,400 4,495,200 8.15 8.16 8.15 8.16 8.05 8.16 286,700 2,329,926 EEI CORP 7.15 7.2 7.35 7.35 7.1 7.2 1,404,500 10,105,280 HOLCIM MEGAWIDE 6.91 6.92 7.3 7.5 6.91 6.91 6,907,600 49,390,148 PHINMA 14.56 14.96 14.08 15 14.08 14.92 84,500 1,231,408 1.05 1.06 1.06 1.06 1.05 1.06 62,000 65,580 TKC METALS CROWN ASIA 1.73 1.75 1.75 1.75 1.73 1.75 48,000 83,180 EUROMED 1.94 1.98 2 2.04 1.92 1.94 213,000 414,720 LMG CORP 4.29 4.73 4.28 4.28 4.28 4.28 5,000 21,400 MABUHAY VINYL 5.01 5.27 5.2 5.27 5.1 5.27 7,900 40,757 5.39 5.4 5.38 5.39 5.38 5.38 98,500 529,934 PRYCE CORP CONCEPCION 21.5 21.55 21.5 21.95 21.5 21.55 2,000 43,200 GREENERGY 4.4 4.45 4.45 4.51 4.35 4.45 10,045,000 44,656,440 INTEGRATED MICR 10.58 10.6 10.58 10.94 10.58 10.6 1,490,600 15,986,532 1.13 1.14 1.12 1.16 1.12 1.14 334,000 380,820 IONICS 5.8 5.85 5.8 5.8 5.8 5.8 1,700 9,860 PANASONIC SFA SEMICON 1.42 1.43 1.52 1.52 1.42 1.42 6,215,000 9,019,890 CIRTEK HLDG 5.63 5.64 5.61 5.7 5.6 5.63 3,796,700 21,464,444

-13,053,858 -1,282,990 -4,044,405 244,250 -5,427,140 579,792 -14,933,982 9,763,346 -137,760 -3,548,400 16,480 430,234 81,870 -4,556,175 -3,507,566 -4,582,676 1,622,268 87,380 8,280 534,928.50 -10,195,384 1,966,081 145,000 -68,024,750.00 452,171 18,800 -11,760 2,903,097 8,600 -3,954,210.00 97,930 14,080 1,536,992 3,614,095 475,845 21,440 -41,050 25,049,090 -609,298 -5,800 166,060 -2,149,316

HOLDING & FRIMS ABACORE CAPITAL 1.09 1.11 1.11 1.12 1.08 1.11 6,201,000 6,817,570 ASIABEST GROUP 7.08 7.25 7.2 7.25 7.2 7.2 3,200 23,045 AYALA CORP 811 811.5 816 817 809.5 811.5 112,590 91,540,575 42.05 42.1 42.5 42.55 42.05 42.05 898,100 37,881,765 ABOITIZ EQUITY 10.38 10.4 10.48 10.54 10.38 10.4 2,326,000 24,329,348 ALLIANCE GLOBAL AYALA LAND LOG 4.14 4.16 4.15 4.16 4.03 4.15 5,370,000 22,132,400 ANSCOR 6.86 6.98 7 7 6.98 6.98 9,800 68,468 1.1 1.11 1.02 1.1 1 1.1 13,889,000 14,820,790 ANGLO PHIL HLDG 0.71 0.72 0.72 0.72 0.71 0.72 689,000 491,640 ATN HLDG A ATN HLDG B 0.72 0.73 0.73 0.73 0.73 0.73 2,000 1,460 COSCO CAPITAL 5.33 5.36 5.33 5.38 5.33 5.33 809,300 4,328,419 DMCI HLDG 6.68 6.69 6.85 6.86 6.62 6.69 9,489,300 63,894,350 8.11 8.2 8.15 8.2 8.1 8.2 30,000 245,095 FILINVEST DEV 0.295 0.31 0.295 0.31 0.295 0.295 260,000 78,250 FORUM PACIFIC GT CAPITAL 620 622 631.5 633 618 622 74,060 46,194,095 HOUSE OF INV 3.95 4.19 3.92 4.3 3.92 4.19 269,000 1,125,790 63 63.4 64.15 64.15 63 63 252,330 15,952,966.50 JG SUMMIT 4.52 5.44 5.45 5.45 5.45 5.45 5,000 27,250 KEPPEL HLDG A LODESTAR 0.88 0.89 0.94 0.94 0.88 0.88 7,173,000 6,420,810 LOPEZ HLDG 3.39 3.4 3.39 3.39 3.39 3.39 34,000 115,260 LT GROUP 12.88 12.98 12.82 13 12.82 12.88 605,000 7,824,578 0.53 0.54 0.53 0.54 0.53 0.54 73,000 38,880 MABUHAY HLDG METRO PAC INV 3.91 3.92 3.96 3.98 3.92 3.92 30,552,000 120,312,060 PACIFICA HLDG 3.56 3.64 3.58 3.64 3.56 3.64 21,000 75,290 PRIME MEDIA 2.98 3 3.01 3.05 2.95 2.98 1,200,000 3,583,430 REPUBLIC GLASS 2.88 2.89 2.86 2.89 2.86 2.89 17,000 48,860 1.25 1.29 1.26 1.29 1.26 1.29 8,000 10,260 SOLID GROUP SM INVESTMENTS 1,014 1,015 1,020 1,020 1,011 1,014 104,705 106,273,765 SAN MIGUEL CORP 116.5 117 117.1 117.7 115.9 117 198,750 23,262,081 SOC RESOURCES 0.76 0.78 0.76 0.76 0.76 0.76 176,000 133,760 2.26 2.37 2.23 2.23 2.23 2.23 34,000 75,820 SEAFRONT RES TOP FRONTIER 138 140 138 140 138 140 140 19,520 WELLEX INDUS 0.295 0.3 0.29 0.305 0.285 0.3 1,290,000 376,050 ZEUS HLDG 0.244 0.247 0.247 0.255 0.241 0.247 5,600,000 1,384,240

2,221,180 -56,561,085 16,870,270 2,428,028 9,631,980 -105,060 -2,403,769 11,385,844 54,805.00 9,835,915 -2,544,978 18,200 -4,598,964 -8,924,220 -50,000 33,754,400 4,216,608 -14,000 -27,380

PROPERTY ARTHALAND CORP 0.67 0.68 0.67 0.69 0.65 0.67 1,115,000 749,490 AYALA LAND 36.75 36.8 37.4 37.4 36.65 36.8 3,255,500 120,315,865 ARANETA PROP 1.18 1.23 1.19 1.19 1.19 1.19 25,000 29,750 36.5 36.55 36.8 36.8 36.5 36.5 262,200 9,586,785 AREIT RT 1.41 1.42 1.42 1.44 1.42 1.42 688,000 979,880 BELLE CORP A BROWN 0.93 0.94 0.94 0.94 0.92 0.94 1,797,000 1,661,410 CITYLAND DEVT 1.08 1.09 1.07 1.11 1.06 1.09 4,071,000 4,436,980 0.135 0.137 0.136 0.139 0.134 0.137 5,070,000 688,760 CROWN EQUITIES 6.26 6.98 6.22 6.22 6.22 6.22 200 1,244 CEBU HLDG CEB LANDMASTERS 3.82 3.83 3.8 3.83 3.77 3.83 1,388,000 5,298,080 CENTURY PROP 0.51 0.53 0.52 0.53 0.51 0.53 7,861,000 4,109,440 DOUBLEDRAGON 12.04 12.12 12.18 12.18 12.04 12.12 1,049,000 12,688,900 1.99 2 2 2.01 1.99 1.99 5,856,000 11,717,590 DDMP RT 7.16 7.19 7.15 7.19 7.15 7.19 26,800 191,800 DM WENCESLAO EMPIRE EAST 0.305 0.31 0.305 0.315 0.305 0.315 440,000 135,650 EVER GOTESCO 0.495 0.5 0.5 0.51 0.475 0.5 135,180,000 66,518,200 1.12 1.13 1.12 1.12 1.1 1.12 15,540,000 17,207,550 FILINVEST LAND 0.9 0.91 0.89 0.91 0.89 0.91 271,000 242,910 GLOBAL ESTATE 8990 HLDG 7.14 7.15 7.16 7.32 7.14 7.15 181,900 1,306,745 PHIL INFRADEV 1.39 1.4 1.4 1.42 1.39 1.39 1,044,000 1,455,910 CITY AND LAND 1.84 1.85 1.83 1.85 1.81 1.84 1,070,000 1,950,460 3.21 3.22 3.28 3.3 3.21 3.21 20,381,000 66,313,920 MEGAWORLD 0.41 0.415 0.42 0.42 0.41 0.415 15,130,000 6,270,150 MRC ALLIED PHIL ESTATES 0.7 0.71 0.69 0.73 0.68 0.71 27,036,000 19,159,940 PRIMEX CORP 3.11 3.15 3.26 3.26 3.1 3.15 351,000 1,122,420 ROBINSONS LAND 18.34 18.38 18 18.96 17.98 18.38 2,408,000 44,172,158 0.41 0.415 0.41 0.425 0.405 0.415 6,280,000 2,612,400 PHIL REALTY 1.57 1.58 1.57 1.58 1.55 1.57 176,000 276,020 ROCKWELL SHANG PROP 2.65 2.7 2.7 2.71 2.65 2.7 56,000 151,100 STA LUCIA LAND 2.86 2.89 2.9 2.97 2.85 2.9 254,000 730,610 36.75 36.85 37.5 37.55 36.6 36.75 2,397,300 88,586,785 SM PRIME HLDG 3.86 3.96 3.89 3.99 3.82 3.98 111,000 434,990 VISTAMALLS SUNTRUST HOME 1.6 1.61 1.67 1.67 1.6 1.61 1,219,000 1,955,590 VISTA LAND 3.86 3.87 3.84 3.9 3.84 3.87 1,979,000 7,668,310 SERVICES ABS CBN 12.4 12.5 12.26 12.5 12.2 12.4 84,200 1,043,382 GMA NETWORK 14.38 14.4 14.52 14.52 14.34 14.38 2,387,700 34,384,722 MANILA BULLETIN 0.44 0.465 0.44 0.44 0.44 0.44 20,000 8,800 1,963 1,964 1,940 1,988 1,939 1,964 88,235 173,337,040 GLOBE TELECOM 1,320 1,330 1,332 1,342 1,318 1,330 77,990 103,790,420 PLDT APOLLO GLOBAL 0.176 0.177 0.18 0.18 0.176 0.177 314,050,000 55,630,250 CONVERGE 22.75 22.8 22.6 23.25 22.6 22.75 4,484,200 102,697,630 4.44 4.48 4.57 4.58 4.37 4.48 5,003,000 22,271,640 DFNN INC 8.97 8.98 8.86 9.07 8.85 8.98 3,635,300 32,695,985 DITO CME HLDG 2.15 2.41 2.41 2.41 2.15 2.15 148,000 327,310 JACKSTONES NOW CORP 2.52 2.53 2.65 2.65 2.48 2.52 5,442,000 13,828,930 TRANSPACIFIC BR 0.52 0.53 0.48 0.53 0.48 0.52 71,230,000 36,316,550 2.4 2.43 2.42 2.43 2.39 2.43 129,000 310,520 PHILWEB 2GO GROUP 8.56 8.6 8.38 8.56 8.38 8.56 25,200 214,109 ASIAN TERMINALS 14.7 14.8 14.88 14.88 14.8 14.8 2,000 29,680 CHELSEA 3.07 3.1 3.07 3.1 3.06 3.1 564,000 1,730,910 52.95 53 53.1 53.35 52.95 53 291,930 15,500,161.50 CEBU AIR 164.5 164.9 165 165 164.2 164.9 987,920 162,909,334 INTL CONTAINER 17.28 18.28 18.3 18.3 18.28 18.28 1,700 31,106 LBC EXPRESS LORENZO SHIPPNG 1.01 1.06 1 1.06 1 1.06 306,000 306,420 MACROASIA 5.41 5.42 5.53 5.56 5.38 5.42 2,175,600 11,928,523 2.23 2.27 2.31 2.36 2.21 2.27 329,000 748,260 METROALLIANCE A METROALLIANCE B 2.13 2.53 2.13 2.13 2.13 2.13 2,000 4,260 HARBOR STAR 1.24 1.26 1.22 1.28 1.22 1.26 319,000 397,460 ACESITE HOTEL 1.91 1.96 1.95 1.97 1.91 1.97 59,000 113,190 BOULEVARD HLDG 0.148 0.149 0.136 0.149 0.133 0.149 735,630,000 105,155,500 3.09 3.1 3.1 3.1 3.1 3.1 26,000 80,600 DISCOVERY WORLD WATERFRONT 0.59 0.6 0.6 0.61 0.58 0.59 1,435,000 850,100 CENTRO ESCOLAR 6.52 6.6 6.6 6.6 6.6 6.6 3,000 19,800 IPEOPLE 7.35 7.4 7.35 7.35 7.35 7.35 1,400 10,290 0.39 0.395 0.4 0.405 0.39 0.395 11,150,000 4,405,000 STI HLDG 5.26 5.36 5.3 5.44 5.23 5.44 2,100 11,046 BERJAYA BLOOMBERRY 6.45 6.46 6.49 6.69 6.45 6.45 20,677,700 135,312,878 PACIFIC ONLINE 2.06 2.1 2.06 2.06 2.05 2.05 6,000 12,330 LEISURE AND RES 1.6 1.62 1.6 1.63 1.59 1.6 237,000 382,710 1.9 1.91 1.91 1.94 1.9 1.91 1,859,000 3,563,260 PH RESORTS GRP 0.42 0.425 0.425 0.43 0.42 0.425 2,540,000 1,081,200 PREMIUM LEISURE PHIL RACING 5.9 6 5.91 5.91 5.9 5.91 4,000 23,622 ALLHOME 8.21 8.3 8.09 8.32 8.06 8.3 2,722,700 22,361,947 1.42 1.43 1.42 1.45 1.36 1.42 2,809,000 3,955,640 METRO RETAIL 41.5 41.7 41.95 42.3 41.35 41.7 2,035,600 85,172,995 PUREGOLD ROBINSONS RTL 57.35 57.4 56.8 57.95 56.7 57.4 898,740 51,575,590.50 PHIL SEVEN CORP 94.5 95 95.9 95.9 95 95 25,390 2,420,323.50 SSI GROUP 1.27 1.29 1.23 1.3 1.23 1.27 10,625,000 13,550,730 21.5 21.65 21.6 22.1 21.25 21.5 4,541,500 98,805,700 WILCON DEPOT 0.39 0.4 0.395 0.4 0.385 0.4 1,040,000 406,500 APC GROUP EASYCALL 6 6.13 6.15 6.15 6.14 6.14 7,000 43,020 GOLDEN MV 430 442.4 430 442.4 430 442.4 1,630 720,740 5.75 5.8 5.74 5.75 5.74 5.75 6,700 38,513 IPM HLDG PRMIERE HORIZON 1.63 1.64 1.64 1.66 1.63 1.64 3,443,000 5,642,770 SBS PHIL CORP 4.28 4.32 4.4 4.4 4.4 4.4 1,000 4,400

-32,113,270 -1,381,635 57,040 10,900 13,500 -30,360 -30,600 -6,554,962 3,285,000.00 31,500 -2,326,650 4,069,390 21,020 70,910 -5,634,210 415,000 -163,200 126,460 5,199,418 142,700 7,714,895 -71,280 -1,041,100 96,175,270 6,289,700 -1,563,390 -7,321,945 -18,374,700 21,111 -242,320 11,410 285,050 -2,891,028 27,117,956 230,077 -1,658,960 8,260 -19,800 -3,642,100 -50,704,486 -83,430 1,055,470 -4,121,205.00 -1,340,520.00 39,350,230 17,308,929.50 -2,347,978.50 -2,464,290 29,479,055 418,780 -

MINING & OIL ATOK 8.5 8.51 8.5 8.61 8.5 8.5 677,000 5,793,492 66,310.00 APEX MINING 1.63 1.64 1.64 1.65 1.63 1.64 1,044,000 1,716,210 87,230 6.5 6.55 6.53 6.68 6.45 6.55 1,747,700 11,399,912 -360,400 ATLAS MINING Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2181 1.28% 5.54% 2.31% 0.38% 5.8 5.82 5.85 5.85 5.7 5.8 117,800 681,303 BENGUET A BENGUET B 5.51 5.7 5.7 5.72 5.7 5.71 20,100 114,771 COAL ASIA HLDG 0.3 0.31 0.305 0.305 0.3 0.3 860,000 259,850 Sun Life Prosperity GS Fund, Inc. -a 1.7509 0.29% 4.8% 1.6% -0.23% 2.86 2.87 2.86 2.87 2.84 2.87 243,000 692,950 399,500 CENTURY PEAK 6.48 6.6 6.86 6.86 6.41 6.6 323,700 2,108,013 60,939 DIZON MINES Primarily invested in foreign currency securities 2.51 2.53 2.49 2.55 2.49 2.53 1,038,000 2,603,810 200,420 FERRONICKEL GEOGRACE 0.335 0.34 0.345 0.35 0.335 0.335 1,570,000 534,000 ALFM Dollar Bond Fund, Inc. -a $486.21 2.6% 3.19% 2.18% 0.48% LEPANTO A 0.157 0.158 0.162 0.164 0.156 0.157 72,010,000 11,452,260 0.162 0.168 0.17 0.17 0.162 0.162 1,140,000 185,800 17,000 LEPANTO B ALFM Euro Bond Fund, Inc. -a Є220.17 2.2% 1.14% 1.08% 0.45% 0.011 0.012 0.011 0.011 0.011 0.011 28,800,000 316,800 MANILA MINING A MANILA MINING B 0.011 0.012 0.011 0.012 0.011 0.012 4,700,000 52,800 ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1926 -2.29% 2.38% 1.2% -6.86% MARCVENTURES 1.2 1.23 1.21 1.23 1.2 1.2 949,000 1,155,210 1.5 1.51 1.52 1.56 1.48 1.51 913,000 1,373,710 4,440 NIHAO 5.46 5.5 5.46 5.6 5.46 5.5 6,646,900 36,651,094 12,479,884 NICKEL ASIA First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0.38% 1.85% 0.86% -1.88% 1 1.02 0.99 1.02 0.99 1.02 600,000 602,150 ORNTL PENINSULA PX MINING 6.74 6.77 6.85 6.85 6.74 6.77 3,132,000 21,277,742 537,603 PAMI Global Bond Fund, Inc -b $1.0488 -2.03% 0.48% -0.97% -4.02% SEMIRARA MINING 16.7 16.74 16.8 17.2 16.36 16.7 7,670,900 129,199,932 -862,900 0.0095 0.0096 0.0094 0.0096 0.0094 0.0096 72,000,000 682,600 UNITED PARAGON Philam Dollar Bond Fund, Inc. -a $2.5119 2.79% 5.46% 2.02% -0.93% ACE ENEXOR 18.62 19 19 19.2 18.56 19 44,800 850,272 7,600 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 101,700,000 1,301,100 Philequity Dollar Income Fund Inc. -a $0.0630005 3.94% 3.57% 2.2% 1.09% ORNTL PETROL B 0.012 0.013 0.012 0.013 0.012 0.013 206,500,000 2,505,700 PHILODRILL 0.011 0.012 0.012 0.012 0.012 0.012 153,000,000 1,836,000 8.03 8.04 8.15 8.15 8.03 8.04 231,600 1,869,985 248,950 PXP ENERGY Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1859 0.28% 3.45% 0.76% -1.17% PREFFERED Money Market Funds HOUSE PREF B 101 101.5 101.5 101.5 101.5 101.5 4,250 431,375 AC PREF B1 526 530 534 534 534 534 10 5,340 Primarily invested in Peso securities ALCO PREF B 101.5 103.5 103.5 103.5 101.2 101.2 140 14,260 51.45 51.5 51.7 51.85 51.35 51.5 129,050 6,648,225 -5,059,901.50 CEB PREF ALFM Money Market Fund, Inc. -a 130.34 1.67% 3.04% 2.53% 0.41% 100.3 104 102 104 100.2 104 7,050 711,230 CPG PREF A DD PREF 101 102 100.9 102 100.9 102 9,310 940,490 FGEN PREF G 105.2 107.5 109 109 100.5 101.2 20,070 2,050,121 First Metro Save and Learn Money Market Fund, Inc. -a 1.0532 1.09% n.a. n.a. 0.49% 504.5 516 504.5 504.5 504.5 504.5 7,600 3,834,200 GLO PREF P GTCAP 996 1,005 997 997 992 995 2,070 2,056,660 PREF A 1.71% Sun Life Prosperity Money Market Fund, Inc. -a 1.3056 2.83% 2.56% 0.69% GTCAP PREF B 1,017 1,030 1,017 1,017 1,016 1,016 1,270 1,290,720 MWIDE PREF 100.6 101 101.4 101.4 100.6 100.6 38,290 3,861,986 Primarily invested in foreign currency securities MWIDE PREF 2B 100.7 101.8 101.8 101.8 101.8 101.8 90 9,162 106 106.7 106.8 106.8 106.7 106.7 1,310 139,790 PNX PREF 3B Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0578 1.21% 1.66% n.a. 0.51% PNX PREF 4 1,002 1,006 1,006 1,006 1,001 1,006 8,040 8,048,220 PCOR PREF 2B 1,027 1,049 1,030 1,030 1,030 1,030 245 252,350 PCOR PREF 3A 1,115 1,116 1,116 1,116 1,115 1,115 550 613,290 Feeder Funds 1,146 1,167 1,165 1,167 1,165 1,167 240 279,720 -70,020 PCOR PREF 3B 78.8 78.85 79.5 79.5 78.85 78.85 80,640 6,364,856.50 7,950 SMC PREF 2C Primarily invested in Peso securities 76.25 76.95 76.5 76.5 76.5 76.5 960 73,440 SMC PREF 2E SMC PREF 2F 78.8 79.45 79.5 79.5 78.8 78.8 16,010 1,262,259 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2949 n.a. n.a. n.a. 14.63% SMC PREF 2H 78 78.5 78 78 78 78 10,520 820,560 76 76.5 76.5 76.5 76.5 76.5 120 9,180 - SMC PREF 2K Primarily invested in foreign currency securities PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.04 12.2 12.1 12.2 12.04 12.04 25,400 306,916 -306,916 ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 7.53% n.a. n.a. 2.04% GMA HLDG PDR 13.1 13.2 13.2 13.2 13.1 13.1 603,700 7,966,680 -2,347,600 WARRANTS a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). LR WARRANT 1.82 1.83 1.86 1.89 1.82 1.83 971,000 1,781,740 - 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. SMALL & MEDIUM ENTERPRISES ALTUS PROP 17.36 17.42 17.32 17.5 17.32 17.42 61,200 1,067,794 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. ITALPINAS 2.43 2.45 2.46 2.49 2.43 2.44 711,000 1,741,660 KEPWEALTH 5.1 5.32 5.33 5.33 5.32 5.32 2,800 14,914 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. 2.55 2.69 2.55 2.57 2.5 2.57 202,000 512,230 -507,090 MAKATI FINANCE 4.02 4.03 4.14 4.14 4.02 4.03 7,984,000 32,454,290 2,580,880 MERRYMART "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 EXHANGE TRADE FUNDS 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." FIRST METRO ETF 106.5 106.9 106.8 107 106.5 106.5 18,740 2,000,805 99,284

www.businessmirror.com.ph

Entrepreneur

PaIRS program boosts start-ups led by women

omen technopreneurs will now find it easier to develop their start-up ideas and convert them into viable products or services through the Partners in Innovating Resilient Start-ups or PaIRS program initiated by Miriam College and the Department of Science and Technology-National Capital Region (DOST-NCR). Coinciding with the launch was a virtual memorandum of agreement (MOA) signing ceremony represented by DOST-National Capital Region Director, Jose Patalinjug III, and Miriam College President, Amb. Laura Quiambao-del Rosario, held last June 28. The PaIRS program is in support of the 2019 Innovative Startup Act that aims to strengthen, promote, and develop an innovative and entrepreneurial ecosystem and culture in the Philippines.

Full support for six months

AS early as September 2019, Miriam College established the MC-Technology Business Incubator (MC-TBI) with the DOST-Philippine Council for Industry, Energy and Emerging Technology, Research and Development to provide an ecosystem of support in technology and innovation management, especially for women entrepreneurs and women-led start-ups in the areas of education, job search, food, and well-being technology. In particular, the program called “The Nursery” will help facilitate the development of start-up ventures in their early-stages. Incubatees will get full support for six months through capacity-building activities, mentoring, networking events, and, legalization and funding as they transition their business ideas into a minimum viable product. “More than commending [technopreneurs’] courage, vision, and hope to help the country, we need to address the risks and uncertainties that come with starting a business. Thus, we recognize the ingenuity of Miriam College as it established a technology business incubator in Metro Manila to host and support our tech start-ups, and serve as springboard to jump-start their businesses,” said Patalinjug III during the virtual signing ceremony. Among the successful women-led start-ups supported by MC-TBI to date are Raketeer, an online platform that connects out-of-school youth and micro, small and medium enterprises with freelancers to enhance job offers/ orders and transactions; Puldiya, an initiative that gives Indigenous Youths sustainable job opportunities in Baguio City and nearby municipalities; and MATHayog, an AIdriven learning platform that determines the learning gaps in students’ math skills and provides lessons and sound practices to help them improve their skills in the subject. “We are happy to be working with DOST on this program and we are ready to provide other resources, if needed, because we know that innovation and entrepreneurship are the way to economic development,” said Amb. Quiambao-del Rosario. The MC-TBI is housed under the Miriam College-Henry Sy Sr. Innovation Center, which will provide the programs and services for the incubatees as they develop their start-ups.

Overcoming start-up roadblocks

For its part, DOST-NCR will serve as an advisor in the Innovation Advisory Council for Entrepreneurs, work with MC-TBI in co-developing programs and projects, and provide access to existing services for start-up and entrepreneurs. With an ecosystem in place plus full government support through DOST, it is hoped that promising start-ups will overcome common roadblocks in research and development, intellectual property rights registration, and benefits and incentives access, giving them opportunities for travel grants, start-up venture funds, exchange programs, and training and workshop. MC-TBI is now opening the call for applications for “The Nursery” Incubation Program Cohort 3. Deadline of submission is August 1, 2021. For more details, please visit their FB page @miriamcollegetbi or e-mail mcibanez@ mc.edu.ph.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, July 7, 2021 B3

‘Drakons’: Fighting head-to-head with dragons of gaming industry Roderick L. Abad

@rodrik_28

Contributor

N the digital world, the past recent years have seen blockchain— a growing list of records called blocks that are linked together using cryptography—constantly creating a buzz. Some see it beneficial for making online transactions fast and transparent, while others fear the uncertainty and the disruption it might have. Amid these contradicting notions, this emerging digital technology is here to stay. To make it more acceptable and understandable in the Philippines, which has been reported as a market with slow adoption rate of the blockchain, a group of former officemates has endeavored to introduce the beauty of it to a huge number of people by educating them in an interestingly fun and easy way through Drakons. This blockchain based game features genetically one-of-a-kind and artistically designed digital dragons called Drakons created as cryptocollectibles or digital-collectibles. “Drakons is basically an NFT [non fungible token]. Unlike the typical collections of NFT, we created a world where people could still interact, play, and challenge one another,” said Cris Tagle, chief executive officer (CEO) of Zynappse, a 100-percent Filipinoowned company behind the Drakons.

Leap of faith

FILIPINOS are, indeed, at par with their foreign counterparts in the information technology (IT) industry. Proof of which are the success stories of local talents, who have penetrated and managed to rise from the ranks while working in some of the giants of

the Silicon Valley. Such triumphant tales, however, don’t just end there. Locally, the team behind Drakons, which he led and co-founded with Chief Information Officer Javier Allan, Chief Marketing Officer Rachelle Consul, Multimedia Director Trixia Betito, and Chief Technology Officer John Paul Orpilla can possibly outperform some of the “Dragons” in the industry. And this is likely not by working for any of the local IT firms or multinationals based here, but through their enterprising spirit and courage to take a leap of faith to put up in 2014 a tech company called Zynappse that offers app and cloud-based solutions—thanks to their simple fervor for a blockchain game complemented by their tech skills, talents, and vast IT experience. “In fact, we established it over a cup of coffee because we used to work for a company working with local government units. We develop different solutions. We develop real property tax, business permits, and everything. Until one day, maybe we got tired of moving around the country, deploying different solutions. So I said, ‘Why not experiment

Cris Tagle, chief executive officer of Zynappse, a 100-percent Filipino-owned company behind the Drakons. Contributed photo

on mobile solutions?’” Tagle recalls the time when mobile apps were really a hype. Initially, the company created solutions for businesses, especially in the local market. Its success began with its first client, a big regional resort and casino industry player that wanted to revamp its mobile app. From then on, the firm has never stopped offering different apps and solutions in Cloud and mobile platforms. As years passed by, the team saw the rise of blockchain technology. Consul discovered an article about NFTs via CryptoKitties in 2017. She and the rest of the team fell immediately in love with this pioneering blockchain game. Eventually, it inspired them to come up with their own, thus, giving birth to Drakons a year after. “We’ve been developing solutions for over the years, [so] why not create our own dapp [or] decentralized application?” the CEO said.

Have more to offer, will stay in the game

GIVEN the rise of the many players in the gaming sector today—with the blockchain technology playing pivotal into it—their staying power does not depend on how long they have been in this field, but with the kind of offerings they give. This is what separates Zynappse from the rest of the competition, ac-

cording to Tagle. He said: “They may be the first ones to introduced those, but we we’re looking for something more, something artistic, something that people would really love to pet.” So how does anyone can enjoy Drakons? First, collect according to their attributes in terms of agility, strength, intelligence and health points. Own or buy Drakons according to basic elements: Earth, fire, air, water, frost and metal. A user called Drakon Master can then sire and breed them. Gamers can play, upgrade, train and battle with Drakons using their desktop or smartphones. Increasing their value and skills on the battlefield is possible by upgrading or buying additional boosts, accessories or skins. Every battle won will be rewarded with orbs. Going up the leaderboard will earn loots like boosts, shards and gems, which are tradable to Drakoins or DRK—the game’s official utility token. Users can sell their Drakons via the secure blockchain transactions. They have value equivalent to an ERC-721 token or a regular cryptocurrency like the Ethereum (ETH) coin. They can be sold in other NFT marketplaces like Opensea, Rarible, etc. “Statistics show that NFTs value on the blockchain will double in 2020. In fact, statistics say that there’s around $250 million worth of NFTs in the blockchain world from different platforms—simple arts being posted as NFTs, [or] simple graphics,” cited Tagle. “In terms of Drakons NFTs, we’re kind of surprised because they have different values in terms of cost, from .01 ETH to like .7 ETH. But people are actually buying or collecting these NFTs even though they’re worth like our recent sold NFTs—these are Metal Drakons, which are legendary and come up only at least once a year—that were bought for like .08 ETH per Drakon,” he narrated.

Leveling up

STARTING merely from just literally playing the game, the team expressed elation by the positive response to

Pangasinan lass turns clothes reworking hobby into business By Hilda Austria Philippine News Agency

AYAMBANG, Pangasinan—A clothes reworking hobby of an 18-year-old “fashionista” in this town is now augmenting the medical needs of her mother as she turned it into a business. Jannah Mae De Vera recreates clothes she bought from ukay-ukay (pre-loved items) shops into fashionable items as she supports sustainable fashion, and sells them online. “I started my own designs reworking on pre-loved clothing and my cousins noticed that my designs are good and encouraged me to sell my works. My first works were only hand sewn so I saved up so I could buy my own sewing machine,” she said in an interview over the weekend. De Vera said she asked her parents for a small amount from the income of their sarisari store, which was put up with the help of the Department of Labor and Employment (DOLE) as she was identified as part of a program for child laborers in the country. “When I was still a minor, I used to assist my cousin who worked at an ukayukay shop. Since I am inclined to fashion, my cousin asked me to assist customers in finding their choice of clothing, but DOLE intervened and instead gave my parents capital to start a small business,” she added. DOLE’s project aims to contribute to the prevention and elimination of child labor by providing families of kid laborers access to decent livelihood opportunities for enhanced income. Most interventions include counseling by their respective Municipal Social Welfare and Development Office and liveli-

She then moved her business to Instagram to reach a broader market. De Vera is now working on her ninth collection as the release of her latest collection was delayed because of the hospitalization of her mother. “My mother is undergoing dialysis and last month, she was hospitalized and I was the one Jannah Mae De Vera poses with pre-loved clothes she will work on with her designs. Her earnings from her business augment the dialysis sessions fees of her who looked after her in the hospital. The earnmother. Photo courtesy of Jannah Mae De Vera ings from my business hood assistance through DOLE’s Integrataugment my mother’s dialysis sessions,” ed Livelihood Program (DILP)-KASAMA she said. (Kabuhayan para sa Magulang ng Batang Her clothes sell from P100 to P490 deManggagawa) project. pending on the design and material. De Vera said she used part of the money De Vera said she sometimes puts her she asked from her parents to resell celluclothes on sale to easily raise an amount lar phone cases, a part-time business that for her mother’s dialysis. enabled her to raise the needed money to De Vera said her family supports her business as her father, who is now 66 years old, buy a sewing machine. serves as her driver when she goes around She then bought a second-hand sewing town or neighboring towns in search of machine that she scouted from Facebook. good pre-loved clothes to be reworked on, “Natuto po akong manahi sa YouTube saka while her eldest sister and brother market nakita ko sa advertisement on Tiktok.” (“I her products and her mom helps her in learned to sew through YouTube and I saw packaging the ordered items. an advertisement on Tiktok about sustainDespite being into fashion, she will purable fashion. I attended the Zoom meeting sue a nursing course as she enters freshman about sustainable fashion and easy dressyear in college this year. making. I also learned easy stitches and De Vera’s online shop on Instagram, reworking”), she said in Filipino. Tropical Vintage (tropicalvntg.ph), now has She sold her first collection that was 2,550 followers, while she recently shipped launched last November through social some of her products to the United States. media with 30 reworked clothes, including crop tops, skirts, among others.

Drakons by the markets not just here but overseas as well. “It was for fun really [at the beginning]. It’s like a passion of buying NFTs that we converted to our own dapp that we didn’t realize people were like addicted to dapp and addicted to collecting things like Drakons,” the to executive said. In fact, Tagle shared that when they launched this blockchain game in December 2019, there were a lot of players from Australia, the United Kingdom, and the United States who engaged with them, collected and bought Drakons. Recently, statistics showed that membership from Indonesia stood at 27 percent; India, 9.58 percent; the US, 9 percent; and Brazil, 6.24 percent. “We [also] have people from Vietnam, China, Myanmar, and Japan. Different countries are actually signing up almost everyday,” the CEO added. In the Philippines, Drakons have more than 7 percent of the total number of members worldwide. A lot of Drakon Masters here are actually from Zamboanga and other parts of Mindanao. There are also a handful of players in Metro Manila who are mostly IT people. “So we’re kinda happy and, hopefully, we’ll be able to tap more of the Filipino market and then be proud that Drakons is really a pure 100 percent Filipino-owned introduced globally and being adopted by different races and players,” he said. Zynappse is leveling up the game with various innovations it plans to introduce in the next couple of years. “We would like to create a world where artists, players, collectors, and gamers will find a world where they could participate and work with one another and come up with an ecosystem wherein everyone, aside from their fulfillment on everyday challenges in their battles and, of course, fulfillment in their victories, will also somehow be able to apply and realize the term ‘play to earn.’ And that’s what we want to target and, hopefully, we’ll be able to tap the local market,” Tagle stressed.

Coffee cultivation program launched in Malaybalay City By Claudeth S. Mocon-Ciriaco @claudethmc3

he Technical Education and Skills Development Authority (Tesda) has started training a total of 50 coffee farmers on Coffee Production Level II in Bukidnon Integrated Coffee Center (BICC) in Dalwangan, Malaybalay City. Tesda Director General Secretary Isidro Lapeña said that the free training is part of the agency’s partnership with Nestlè Philippines under a Memorandum of Agreement signed on May 9, 2021. “This is why Tesda and Nestlé Philippines are joining hands to carry out the coffee production project. By upskilling the workers and trainers in coffee production, we will enable the farmers and indigenous people to produce quality coffee beans that are at par with the standards of Nestlé,” Lapeña said. Tesda-Bukidnon announced that out of 50 scholars, 25 individuals belonging to the first batch are coffee growers and coffee farm workers from Maramag town, while the other 25 individuals are from Lantapan town. They are the first two batches for the training program. The first batch of scholars started their training through a virtual Training Induction Program held last June 24, 2021 followed by the second batch held on July 1, 2021. One of the program beneficiaries is Leo Zambrano, a coffee farmer from Barangay Kaatuan in the town of Lantapan, who is known as the Nescafé Plan Coffee Ambassador and whose face can be seen on Nescafé packs. Their training in Coffee Production Level II, which lasts for 176 hours or 25-days, is being done through a combination of face-to-face and distance learning where they can learn about modern coffee growing and entrepreneurship. The training program has allotted 200 scholarship slots in Bukidnon for this year and will accommodate six more batches to be identified by Nestlé Philippines. Based on the agreement, Tesda will train the identified beneficiaries of Nestlé Philippines initially in Bukidnon and the Province of Sultan Kudarat where 80 percent of the country’s coffee is grown. Lapeña is also looking forward that this scholarship program will reach more coffee farmers in the country. Meanwhile, Tesda Region 12 is now preparing to implement the Coffee Production Level II in Sultan Kudarat.

Banking&Finance BusinessMirror

Wednesday, July 7, 2021 • Editor: Dennis D. Estopace

Poll: Only wealthy Pinoys aware of environmentally-sound assets

By Bianca Cuaresma

@BcuaresmaBM

ILIPINO investors are looking more into sustainable options in their investment choices but the consciousness for environmentallysound assets are still currently isolated among the rich, a recent survey showed.

According to a study published in early 2021 by Lombard Odier & Co. Ltd. and the private banking division of Union Bank of the Philippines Inc., Filipino ultra-high net-worth individuals (UHNWIs) are slowly starting to consider sustainable investments when making

investment decisions. This remains consistent with the other UHNWIs in the Asian region with more than 50 percent of respondents agreeing that there will be a strong and accelerated climate change response once the COVID-19 pandemic has ended.

UnionBank said this survey, done together with Lombard Odier’s other strategic alliances in the region, highlights the need to educate and bring awareness to investors to “shift their mindset on sustainable investments and highlight it as a worthy and vital investment outlet to consider.” “In view of this, there is a need for stronger conversations on the importance of sustainability aimed at Filipino UHNWIs, and private banks are uniquely positioned to facilitate these conversations effectively,” UnionBank said in a statement. UnionBank Senior Vice President and Head of Private Banking Arlene Joan T. Agustin said the Philippines, in particular, should be more open to discussions about sustainability investing. “In a country that is considered one of the most vulnerable to the effects of climate change, sustainabil-

ity should be an important consideration when it comes to investments. UnionBank’s private banking [division] aims to localize and pioneer sustainability in investments in the Philippines,” Agustin was quoted in a statement as saying. Just last month, Bangko Sentral ng Pilipinas (BSP) governor Benjamin E. Diokno urged the local financial institutions to get into sustainable finance as part of broader efforts to promote a resilient, inclusive, and low-carbon economy. Diokno said more than $1-billion and P85.4-billion worth of green, social and sustainability bonds have already been issued by “first mover” banks since 2017. “We expect more banks to follow suit as enabling regulations had been laid down complemented by continued capacity-building activities for the industry,” he added.

Overseas Filipino Bank cites expanded reach

HE Overseas Filipino Bank (OFBank) announced that it is now serving clients from 113 countries and territories a year into its operation. These include the top 10 destinations for the deployment of overseas Filipino workers, namely Saudi Arabia, United Arab Emirates, Singapore, Hong Kong, Qatar, Kuwait, Taiwan, Italy, Bahrain, and Malaysia. A wholly-owned subsidiary of the Land Bank of the Philippines, the OFBank is the first digital-only and branchless government bank. “The transformation of OFBank as a branchless digital-only bank has allowed it to serve the diverse requirements of overseas Filipinos abroad and their families back home, providing them a convenient, reliable, and secure banking experience,” OFBank Chair and LandBank President and CEO Cecilia C. Borromeo said. As a digital-only facility, the OFBank utilizes the Digital Onboarding System with Artificial Intelligence which allows OFWs and other Filipinos overseas and their beneficiaries to open a mobile

banking deposit account online through supported mobile devices. Digital services available to OFBank account holders include fund transfers, bill payments, and government bond purchases. The bank also reported earlier that its cash inflow reached P1.51 billion, composed of P849.9 million and P657 million in domestic and remittance inflows, respectively. Total outflows from withdrawals via over-the-counter, automated teller machines and electronic banking amounted to P1.25 billion, yielding the bank an outstanding balance of P256.3 million as of end-May 2021. During the Bureau of the Treasury’s (BTr) Premyo Bonds 2 offering from November to December 2020, a total of 3,517 transactions amounting to P40.7 million were also transacted through the bond purchase feature of the OFBank’s mobile banking application (app). A total of 380 transactions worth P8.3 million were also coursed through the bank’s mobile app for the BTR’s 25th Tranche of the Retail Treasury Bonds or RTB-25 issuance from February to March 2021. Bianca Cuaresma

SEC revokes Familyhan Credit’s license to lend By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has revoked the Certificate of Authority of Familyhan Credit Corp. to operate as a lending company after the regulator said it engaged in unfair debt collection practices and failed to disclose the true cost of loans extended to borrowers. In an order, the SEC’s Corporate Governance and Finance Department found Familyhan liable for three violations of its rule on unfair debt collection practices when it contacted persons in the debtor’s contact list other than those named as guarantors or co-makers of the loan agreement. “Notwithstanding the borrower’s consent, contacting the persons in the borrower’s contact list other than those who were named as guarantors or co-makers shall also constitute unfair debt-collection practice,” the SEC said. Whether or not contacting third parties in the borrower’s contact list was standard operating procedure for Familyhan prior to the issuance of SEC MC 18, the SEC said the company should have changed its collection practices the moment such was prohibited by the regulator’s order. The SEC’s rule took effect September 8, 2019, as part of the agency’s response to several complaints for unreasonable, abusive and unfair practices that lending and financing companies employed to collect debt from borrowers.

Enough time

BSP DONATION This montage of photographs shows officials of the Bangko Sentral ng

Pilipinas, Philippine General Hospital and the Philippine Red Cross during the turn over of checks from the BSP worth P15 million to the PRC and P4 million to the PGH. The top left photo shows BSP Governor Benjamin E. Diokno (left) with PRC Chairman Sen. Richard J. Gordon and with PGH Medical Director Dr. Gerardo Legaspi in the top right pic. With the BSP Governor and the PRC Chairman in the bottom photo are (from left) Monetary Board Members Anita Linda R. Aquino, Peter B. Favila, Felipe M. Medalla and V. Bruce J. Tolentino and BSP Assistant Governor Amenah F. Pangandaman. The BSP said it continued its tradition of donating to health institutions during the month-long commemoration of its 28th anniversary last July 3. “These health institutions are at the frontlines of the fight against Covid-19, which [are the keys] to the country’s economic recovery. The BSP continues to support whole-of-nation efforts to address the health crisis,” Diokno said. Photo courtesy Bangko Sentral ng Pilipinas

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THE regulator said “rnough time has been given to Respondent to adjust its collections procedure to conform with SEC MC 18. This violation cannot, therefore, be overlooked.” Familyhan also violated the Truth in Lending law (Republic Act 3765) when it “failed to disclose the net proceeds of the loan to its borrowers.” “[I]t is clear that the net proceeds of the loan is one of the minimum information that needs to be disclosed by a creditor to its borrower. Thus, missing such information, Respondent cannot contend that they have duly complied or substantially complied with the Truth in Lending Act,” it said. Familyhan filed a motion for reconsideration of the said order, which

was, however, denied by the SEC for lack of merit.

Privacy issues

LAST January, Familyhan was ordered by the National Privacy Commission (NPC) “to immediately stop processing the personal data of more than 6,000 borrowers following an investigation of complaints that the online lender has put at risk the privacy of the data subjects in violation of the Data Privacy Act of 2012 (DPA).” In a statement on its website, the NPC said it also ordered Familyhan to immediately take down its master database online to prevent more people from gaining unauthorized access to it. The database stores sensitive information of the lender’s customers—names, passport numbers, email addresses, current addresses of borrowers based in Hong Kong and Singapore and residential addresses of borrowers in the Philippines, the NPC said. The privacy regulator said the orders were made through a Ceaseand-Desist Order (CDO) it sent on January 15 to the lender’s headquarters in Batangas province. The CDO was also sent to the personal addresses of the officers and board members of Familyhan, namely May Reyes, Voltaire Villafuerte, Jessa Rene Villafuerte, Acer John Angeles and Maureen Atienza. Based on the complaints and on its independent investigation, the NPC said there was “sufficient ground” to support that Familyhan violated Section 26 of the DPA for providing unauthorized access to personal and sensitive personal information due to negligence. The NPC said the report of its Complaints and Investigation Division found “there is reason to believe that Familyhan should have known or had a reasonable belief that a security breach of their borrowers’ personal information occurred; that it has not made the required notification; that there is evidence to support a finding of possible negligence for failure to secure the database and prevent unauthorized access; and that it has not registered with this Commission, despite meeting the criteria for mandatory registration.”

Nightmares of 2013 taper tantrum seen not haunting Asia’s emerging markets

OR all the worries of emerging markets staring down a repeat of the 2013 Taper Tantrum, policy makers in Asia should be considerably calmer. Unlike then—when the Federal Reserve sent shockwaves through global markets with surprise plans to unwind its massive monetary stimulus programs—Asian emerging economies are mostly in a stronger position, while the Fed has signaled a longer lead-time on any change. The fear has been that a hike in US rates will trigger an outflow of capital as investors chase yield elsewhere, setting off an inflation-fueling currency selloff, a spike in borrowing costs or force policy to be tightened faster than what seems healthy for local economies. But, compared with their situation in 2013, as well as with their global emerging-market peers now, Asian central bankers can rely on bigger foreign-reserve stockpiles, relatively benign inflation, a thriving goods trade and deeper localcurrency bond markets. Rather than the Fed, the biggest risk now is a worsening virus outbreak as the delta variant spreads through the region. “EM Asian central banks are able to be more accommodative precisely because of improved fundamentals,” said Mitul Kotecha, chief emerging-market Asia and Europe strategist at Toronto Dominion Bank in Singapore. “Inflation remains relatively well-behaved across the region—though there are some ex-

ceptions—while external balances have strengthened.” “The only caveat is that several countries are lagging behind in terms of pace of vaccinations, fueling risks to recovery,” he said.

Openness

ONCE Fed Chair Jerome Powell signaled last month an openness to starting discussions about curbing asset purchases, analysts rushed to compare the eventual tightening with what happened eight years ago. It’s already helped prompt interestrate hikes in Mexico, Brazil, and Hungary in June. To be sure, the Fed has tried to be more transparent and signal its plans clearly. Federal Reserve Bank of Dallas President Robert Kaplan said last week in a Bloomberg Television interview that the Fed has given sufficient lead time to investors to allow for a smoother tapering this time. Yet policy makers and investors also see a different story in emerging Asia, where South Korea is the lone central bank expected to hike as early as this year—and more for growth reasons around normalization, rather than inflation. During the first half of the year, 13 AsiaPacific central banks held interest rates steady, the only exception being a cut in February by Indonesia. Asia remains an attractive investment destination, Kotecha said, despite some temporary flows toward higher-yielding markets in Latin America and the Europe, Middle

East, Africa region as rate hikes boost yields.

the exchange rate in some nations,” Warjiyo said June 17 as the central bank announced a decision to keep its benchmark interest rate unchanged.

Chasing

SINCE the Fed’s surprise hawkish shift in June, the Mexican peso—a popular candidate for carry trades— has outperformed, gaining about 2.8 percent. In contrast, declines in Asian emerging currencies range from 0.7 percent in the Taiwan dollar to 3 percent in the Thai baht. “Any flow that is happening right now is still chasing the recovery,” said Paul Sandhu, head of multiasset quant solutions Asia Pacific at BNP Paribas Asset Management. “I do think it’s temporary because the fundamentals in Asia are better.” Outside of currencies, foreign funds continued to favor Asian assets last month, demonstrating confidence in the region. Led by China, they added $14.4 billion worth of securities, more than half the total to all emerging markets, according to data from the Institute of International Finance. Here’s a closer look at some of the region’s biggest emerging economies:

China

IN China, a continued rebound in the economy and a more stable—albeit slowing—recovery is reassuring for the nation’s central bank, which had already taken steps to normalize policy late last year. Being a step ahead of the Fed, it’s unlikely to raise interest rates to follow the US tightening cycle to

Asia-wide

A man checks his mobile phone on a street in Thailand. Emerging Market Asian central banks are expected to stand headwinds coming from the West. Bloomberg NEWS

prevent capital outflow fears, especially as money has been gushing into China. The benchmark 10-year bond yield in China peaked in November and has since resumed a downtrend.

Thailand

FOR Thailand, stronger foreign reserves, low external debt, local-dominated bond markets and a hearty financial sector all are providing some buffer, even as the tourismrelated economy still struggles to pick itself up. “It’s different! It’s different. EM Asia is very different from other EMs,” Bank of Thailand Governor Sethaput Suthiwartnarueput told Bloomberg last month. “If you look at the context and the policy chal-

lenges for say, emerging markets in Latin America and the policy challenges for other emerging markets, it’s very different. It’s very different.”

Indonesia

BANK Indonesia Governor Perry Warjiyo was similarly dismissive of bets that a Taper Tantrum would repeat this time around, noting that the world was getting sufficient lead time from the Fed on its tapering, which seem a ways off from execution. As well, positive developments in the financial markets and global economy have “reinvigorated the capital flow to developing markets, including Indonesia, and has contributed to the strengthening of

ASIA-wide, the world’s export engines continue to be cushioned by strong global goods trade. Many of the continent’s economies—not just Thailand—have massively built up their foreign reserves over the past decade. And inflation largely remains benign, removing a threat that’s very real to other emerging markets. Emerging economies in Asia can also take comfort in the fact that since inflows weren’t surging before the pandemic set in—as they were before the last crisis—thus capital flight won’t be on the same scale as in 2013, according to Khoon Goh, head of Asian research in Singapore at Australia & New Zealand Banking Group Ltd. “While the foreign equity selling this year put pressure on Asian currencies, it also means that there will be a limit to how much more outflows we will see due to Fed normalization concerns,” he said. The mean of seven real-effective exchange rates in the region is 0.5 percent below a five-year average, indicating undervaluation that could limit a selloff, according to Bloomberg calculations. This compares with a significant overvaluation of 7.4 percent before the taper tantrum. Bloomberg News

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Editor: Gerard S. Ramos

• Wednesday, July 7, 2021

How to consume news while maintaining your sanity

PHOTO BY MARK CARLO ALLONES ON UNSPLASH

By Aly Colón Washington and Lee University THE amount and variety of news produced today often tests people’s ability to determine its value and veracity. Such a torrent of information threatens to drown news consumers in a river of confusion. Media coverage of the coronavirus, for example, illustrates how news may overwhelm and confuse consumers, and even contribute to mental health woes by escalating anxiety. The overabundance also undermines people’s ability to decipher fact from misinformation. But techniques exist for ferreting out what we can trust and what we should question, and there are steps we can take to help determine where the news comes from. The owners of news media outlets often bring their own view of the news they want their organization to focus on. Some see themselves as information providers. Others may want to advance agendas they believe in. One example of what should be covered in the news was provided by New York Times publisher Adolph Ochs in 1897. It still appears on the newspaper’s masthead: “All the News That’s Fit to Print.” This statement of values enables us to understand what the journalist or news organization wants to convey and why. Understanding the messenger helps us understand the message. As a longtime journalist, and as a journalism professor who teaches media ethics, I believe news consumers should bring a critical eye to the news. Here’s a list you can use when reading, listening to or watching news. It offers steps to bring better focus and context to the relentless news feed. n What’s news to you? What is news? News, at its core, focuses on information that is “new.” It conveys the latest knowledge about local, state, national and international occurrences. Other definitions can be found at bit.ly/3xlM8Vp, bit. ly/3wiPffr, and bit.ly/3AyGssU. What’s the difference between your definition of news and that of news providers? The American Press Institute notes that journalism seeks to determine “newsworthiness.” That, it says, involves verification and value. n Learn more about the news you turn to. What news organization produces the news you turn to, and what does its mission statement disclose about its purpose and promises? Who does it identify as the audience it serves? What a news organization says it stands for can be found online. For examples, search for an “About” heading, a mission statement or “policies and standards.” n Become familiar with journalists your news comes from. What are the names of the journalists associated with the news story, and what’s their background? Check online. How accurate has their work been? You can turn to news research organizations like Poynter and other independent groups focused on transparency and fact-checking. What approach do they take? Is it straight, interpretative or personal? Straight news focuses on verifiable facts. The interpretive approach adds the journalist’s understanding of the subject matter. And the personal approach offers the journalist’s opinions. n Compare different sources of news on the same subject. Consume news from sources across the news spectrum when possible—from local to regional to national and international. Ask yourself the following questions: How do they frame the same news from their vantage point? What, if any, slant seems apparent? What’s the focus of their lens on the news? n Compare notes with others you trust and maybe don’t trust. Ask your friends, and even those who aren’t friends, what their take is on the news. What news sources do they turn to that they trust? How do they evaluate their news? Seek out different perspectives so you can compare them with your own. n Seek out commentary from those who analyze news. Look for columnists or commentators whose views you share. Seek out columnists and commentators whose views you don’t share. Try to understand where they are coming from and why. n Decide what news matters to you, and what doesn’t. Be open about the news you consume. Contact news producers when you think their news is incomplete or incorrect. Professional news producers welcome constructive feedback. They see it as beneficial to improving. Consult other sources of news and knowledge for more insight on the news: magazines, books and podcasts, for example. Consume a variety of news: the good, the bad and, if necessary, the ugly. Finally, take a break from news. Too much news overwhelms. The right diet of news enlightens. THE CONVERSATION

Back to the province M

Y mom would tell me stories of life when we were still living in Manila, but I could not recall any of them. I have always thought I grew up in La Union. What was memorable was the time I had to travel to Manila by myself for university. I remember acting brave even after the bus rolled out onto the highway, but I could not help crying after seeing my mom shrink off into the horizon. Since then, I have spent most of my adult life in Manila. With everything going in the past year, I could not help but think of when I was still living in the province, more so now after spending a weekend in La Union and experiencing the relative calm and unhurried life of provincial living. It made me think of the multiple benefits of living in the province and back to my childhood where everything was seemingly simple and comfortable. For one, work is not as stressful as that in the city. Talking to my sisters and other relatives have made me realize that work is not as hectic as in the city. Not so much in terms of workload, but in the working environment. People in the province are generally more laidback than their urban counterparts. Work is spaced out to allow for other activities which in turn lessens the tendency of people burning out. People can go home for lunch and reconnect with their families or friends. Others use their time for their hobbies or even just take the

time to rest. On the other hand, work opportunities with high pay can be scarce but the low cost of living helps balance it out. It is all a matter of which one you will prioritize. Rural living also allows for people to plant in their own backyards. This reduces what they need to buy from the market and lessens their dependency on their salaries alone. Some even go so far as to sell their own produce during the weekend at the public market. And even if they do buy from a seller, the prices are relatively cheaper than in the cities. So, in effect, the low cost of living more than makes up for the salary difference of jobs in the city. Backyard garden patches are common in the province. You could plant a bit of everything that you need for your family, and even give to neighbors when you have more than what you need. I used to go to our neighbor and ask for some green mangoes, or even ask for cuttings from their plants for our own garden. People knew each other through sharing and talking to each other. Here in the city, I barely talk to my neighbor, much less know their full names. Provincial communities also enjoy organic living and readily accessible natural sceneries for relaxation. I remember when I was still in high school, we would go to the seashore after school just so we could play in the sand and afterwards sit on the sand and watch as the sun set over the waters. During the full moon, we would play bilog ang buwan, patintero, or hide-and-seek while our uncles, aunts, and neighbors talked about everything and everyone. The abundance of nature also helps in adapting to a healthier lifestyle. The availability of fresh fruits and vegetables help people make good choices for their diet and improve their overall health. The air quality in rural areas also tends to be significantly better than in the cities. Being close to nature helps you get good food and excellent air quality, and at the same time reduces your chances of getting sick from pollution. The good air quality in the province is due to the

reduced vehicular traffic and less dense population. Traffic is bearable in rural areas and time is not wasted being stuck in a standstill. You have more time to spend on more interesting activities. On the other hand, if you do not have your own car, transportation options can be limited. But what I also like about being in the province is that places are walking distance from each other. With scenic routes and the abundance of foliage, I do not mind walking or even riding a bike. Rural areas also allow for better work-life balance. From workload to time spent in traffic, to other costs of living in the city, provincial living allows people the time to spend on other activities they enjoy. People have this notion that time is slower in the province. But in reality, people have more time for themselves. Instead of being stuck in traffic or doing overtime, they spend their time on their more important relationships and on their favorite pastimes. It is no wonder that people in rural areas are more relaxed and not prone to burnout. What I also like about provincial areas are the close-knit communities where everybody knows each other. Whereas in Manila, you do not get to know your neighbor unless you have to, or when there is a complaint. People will just keep to themselves and not mind other people’s business. In the rural areas, everybody knows everybody else. Sometimes it can be a disadvantage especially if you need your privacy. But the same community that criticizes you will be the same community that will help you in times of crisis. The bayanihan spirit is still strong in the rural areas. There are so many things I miss living in the province. People are generally friendlier and have a better appreciation of what they have. I guess they understand what contentment is and the idea that life is meant to be lived right now more than later. What I know is that I will always find my way back to living in the province. Nothing beats the familiarity and communal living found by living in the province. n

Cebu Pacific’s adopted Philippine Eagle training to be an ambassador THE country’s leading carrier, Cebu Pacific believes that everyone can and should be able to fly—not just humans, but also birds. To mark Philippine Eagle Week last month, the carrier announced it has agreed to adopt 19-year-old Mindanao for another year. The captive-bred predator, now officially retired from breeding, will pivot to his new role as conservation education ambassador as soon as he is trained to fly on cue. One of the male birds on display at the Philippine Eagle Center in Davao, Mindanao is among the facility’s most photographed residents, a perfect example of the national bird’s majestic presence. The Philippine Eagle is a highly endangered species, with only 400 pairs remaining in the wild. Cebu Pacific has been supporting Mindanao since 2015. The airline has committed to provide for Mindanao’s food, shelter maintenance, keeper care and veterinary care for another year.

“The renewal of our partnership with the Philippine Eagle Foundation [PEF] signifies our commitment to keep doing our part in taking care of our planet in line with our sustainability journey. We are happy to continue being keepers of our home through our continued adoption of Philippine Eagle Mindanao amid this pandemic,” said Candice Iyog, CEB vice president for Marketing and Customer Experience. “Helping the Eagles Survive the Pandemic is Helping Ourselves” is the theme of this year’s Philippine Eagle Week. Organizers hope to highlight how the apex predator maintains the delicate balance in our ecosystem. “Cebu Pacific’s decision to continue the partnership with us despite such a tough time for the airline industry is a much-needed boost to our work amid the Covid-19 crisis,” says Dennis Salvador, executive director of the Philippine Eagle Foundation.

Cebu Pacific adopts Philippine Eagle “Mindanao” for another year.

B6 Wednesday, July 7, 2021

Meralco facilitates timely energization of Manila Mega Field Hospital at Luneta

MERALCO officials led by Maita David - Head of Central Business Area, Ricky Joseph Martinez - BC Head of Malate BC, Jerry Lao - Head of Central Distribution Services, Engr. Randy Sadac of Manila Electrical Division, Radius Telecoms President/CEO Exequiel Delgado, Noel Espiritu – Manila Sector Manager, Annette de Ocampo - Maynilad AVP and Government Relations Head, and Radius Telecoms COO Jen Dela Paz pose for photo opportunity during the inauguration of the Manila Mega COVID Field Hospital on June 24, 2021.

ONSISTENT with its support to the country’s fight against COVID-19, the Manila Electric Company (Meralco) energized the Mega Field Hospital at Rizal Park in Ermita, Manila. In particular, Meralco assisted in the power requirement assessment and facilitated timely energization of the facility to supply the applied load 805 kW for the whole hospital and extended 10 spans of primary line and installing three (3) 333-kilovolt-ampere

transformers in the process. Meralco’s wholly-owned subsidiary Radius Telecoms Inc. provided 25 Red Fiber lines and modems for reliable internet connectivity to both the facility's admin and staff and for patients to get in touch with their families while in isolation. The inauguration was led by the Manila local government through Mayor Francisco “Isko Moreno” Domagoso with the presence of key attendees including Sen.

Christopher “Bong” Go, Health Secretary Francisco Duque, Executive Secretary Salvador Medialdea, Deputy Chief Implementer and BCDA President Vince Dizon and MMDA Chairman Benjamin Abalos as well as Meralco officials led by Central Business Area Head Maita David, and Central Distribution Services Head Jerry Lao, and Radius Telecoms President and Chief Executive Officer Exequiel Delgado. With a capacity of 344 beds, the field hospital began receiving COVID-19 patients with mild to moderate symptoms. It is open not only to residents of the City of Manila, but also patients from other cities. Atty. Ray C. Espinosa, Meralco President and CEO, underscored Meralco’s efforts and stated, “Going beyond the power and light we deliver, this current crisis calls for us to be beacons of reliability and hope. We are keeping the lights on for our front liners and affected Filipinos, and we are one with the government in overcoming this crisis.” The Manila Mega Field Hospital is located at the western section of Rizal Park, in front of the drive-thru vaccination site at the Quirino Grandstand. Meralco haws been continually energizing treatment facilities, vaccination centers, and vaccine storages in a bid to support economic recovery.

Coca-Cola and Teach for the Philippines partner to help students become environmental stewards

CCFPI continues its partnership with Teach for the Philippines to help encourage and empower more teachers, students, and families to become responsible environmental stewards even during the pandemic.

HE Philippines, like much of the world, is facing not only the ongoing pandemic but also an ongoing waste management problem. In hopes of contributing to local solutions, Coca-Cola Philippines – through its social investment arm Coca-Cola Foundation Philippines – is partnering with Teach for the Philippines (TFP) in a program that encourages and educates teachers, students, and families to become responsible environmental stewards. “The saying, ‘it takes a village to raise a child’ extends to children’s behavior towards their surroundings and communities. Our Foundation recognizes the importance of collaborative efforts in forming young citizens committed to caring for the environment,” said Cecile Alcantara, President of Coca-Cola Foundation Philippines. “In 2019, we supported the roll-out of TFP’s Batang Bayani Environmental Education modules to hundreds of students. When face-toface classes halted during the pandemic, we supported the adaptation of these modules to fit flexible learning delivery options in order to reach more students and communities.” Through the continuing partnership with TFP — an organization that works to ensure all Filipino children can benefit from an inclusive, relevant, and excellent education — Coca-Cola is supporting

the migration of its three modules on Environmental Education to various alternative delivery modes. These include Chat-and-SMS-based discussion guides, self-learning modules and session worksheets, and video-based instructional guides for online broadcast. During SY 2019-2020, the modules developed by TFP under its Batang Bayani Program were used to educate 520 students and 52 parents on topics such as Recycling for Students, Segregation for Students, and Recycling and Segregation for Parents. These same modules were adapted for distance and flexible learning. As a result, they were utilized to reach 1,730 students and 291 parents, exceeding the initial goal of reaching 600 public school students and 100 public school teachers and parents. “The Environmental Education modules aim to teach students, their parents, as well as co-teachers to recognize and appreciate how the environment affects their daily lives, and vice versa,” said TFP Program & Training Director, Ginny Villa-Real. “With Coca-Cola Foundation Philippines’ partnership, we have been able to continue adapting and supporting learning amid the pandemic. Now more than ever, we find it important to continue empowering children and the communities around them to become responsible environmental stewards.”

Both parent and student participants reported to have been highly satisfied with the program. “We have noticed early indicators of knowledge transfer in our student participants,” TFP Program Manager John Cedric Pineda added. Beyond migrating the modules to other learning delivery modes, the partnership also included an awareness campaign on social media which reached more than 100,000 Filipinos online.

PhilPost releases commemorative stamps for the 75th anniversary of PHL-U.S relations

HE Philippine Postal Corporation (Post Office) has released a commemorative stamp to mark the 75th Anniversary of the Philippines-U.S. Diplomatic Relations on July 04. Postmaster General and CEO, Norman N. Fulgencio represented by Postshop, Philately and Museum Division Chief Elenita D.L. San Diego presented the Commemorative Stamp Frame to US Embassy in the Philippines Chargé d'Affaires John C. Law held at the Independence Flagpole in Luneta Park Manila. July 4, 1946 marked the formal beginnings of Philippine-US diplomatic relations when the Treaty of General Relations and Protocol

(or the Treaty of Manila) was signed by the Philippines and the United States of America. The official logo which was incorporated in the 75th Anniversary of the PhilippinesU.S. Diplomatic Relations commemorative stamps highlights the common colors of the Philippine and American flags, which symbolize the two countries’ shared history, and the sun, stars, and stripes that represent hope for the future of this deep relationship. The Post Office has printed 30,000 pieces of the stamp. In-house graphic artist Ryman Dominic Albuladora did the layout of the commemorative stamp which is now available at the Philatelic Counter, Manila Central Post Office in Liwasang Bonifacio.

Lab tests prove mouthwash help ward off sickness

N the wake of COVID-19, people have developed a regimen of protection based on masks, handwashing, and social distancing. But while it has somehow worked for most people, a recent study by an independent US lab makes the case for a fourth layer of protection. The focus is on CPC Technology, which is already widely used by the dental industry and is known for its disinfecting qualities. According to the study done by Microbac Laboratories, a 30-second rinse with mouthwash containing CPC Technology is effective in fighting germs and bacteria that cause sickness. “COVID-19 spreads primarily through the transfer of droplets between the hands and the mouth. Therefore, proper oral care could help reduce transmission, especially now that COVID-19 is airborne,” says Maluh Orezca, National President of Philippine Public Health Association. “Mouthwash is very necessary, especially now that oral hygiene is so important. Whenever we talk with people wearing face masks, we tend to overlook oral hygiene because we believe our mouths are covered.” Following the study—which was built on existing research on dental technology— Unilever is now making a case for the role of oral hygiene as an additional preventive measure against sickness. In the Philippines, leading oral care brand Closeup has launched Closeup Active Defense Mouthwash, its first

oral care product with CPC Technology. Closeup Active Defense Mouthwash takes CPC Technology—previously available only at the dentist’s clinic—and makes it available for use at home. It’s the latest effort for public health by Unilever, which has shared their study to encourage others to build upon the research. Together let’s #CloseTheGap and consider adding CPC Technology in their defense routine. For more information on Closeup and other public health efforts from Unilever, visit Closeup Philippines and Unilever Research.

Jimini Foods Groups elevates your bagel sandwiches with Bogels N.Y.

Teaching environmental stewardship to communities

ASIDE from the tie-up with TFP on environmental education, the Foundation has been supporting The Coca-Cola Company's global vision of a World Without Waste. This is Coca-Cola’s commitment to ensuring that all the material it uses in its packaging is collected and circular so that none of it ends up as waste. To date, CocaCola has empowered 40 communities in 22 provinces across the Philippines by providing resources, technology support, trainings, and workshops. Coca-Cola believes that partnering with like-minded organizations and working together with everyone — from local government units to communities — to address the problem of waste can create a bigger and long-term impact that can benefit not just the Philippines but also the world.

IMINI Food Groups (JFG), a leader and innovator in the frozen-fresh foods category, introduces an exciting new product for Pinoy foodies with Bogels N.Y., the newest favorite amazing bogus bagels. Bogels N.Y. takes pride in using the freshest ingredients and unique baking technique that results in an incredibly satisfying bites. Delight in the wonderful crunch of a perfectly baked crust with a soft, chewy inside. Bogels N.Y. offers the perfect balance of health and great taste, all in one delightful bagel. Bogels N.Y. bagels are best enjoyed with a generous dollop of cream cheese or butter, or as a sandwich stuffed with

all your favorite greens and deli cold cuts. Bogels N.Y. can even be enjoyed on its own; it’s that delicious. Bogels N.Y. bagels come in two classic flavors: Whole Wheat Delight and B&W Sesame Sprinkle. The Whole Wheat Delight offers a more satiating and dense bite, while the B&W Sesame Sprinkle gives you that extra crunch and texture. Elevate your breakfast sandwiches and snacks or make it an everyday meal on its own with Bogels N.Y. This is nothing you’ve ever tasted before. Bite into amazing today. Available in individual packs (P42) and per dozen (P504 per pack). Orser online on GustaFood.ph! and Naber.ph

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Editor: Tet Andolong

Ayala Land’s P90-B project to enhance Cebu’s development

Wednesday, July 7, 2021 B7

Energy Act compels building owners to monitor usage and set reduction targets

South Coast City is a 26-hectare waterside development by the consortium of Ayala Land Inc. and SM

The District is Cebu’s prime commercial waterside offering of Ayala Land fronting Cebu Strait.

By Rizal Raoul S. Reyes

ROPERTY giant Ayala Land Inc. (ALI) has proven several times the role of catalyst when it embarks on a development project in a certain area. This time, ALI will bring its stellar record in development to its P90-billion South Coast City project at the South Road Properties in Cebu City.

The 26-hectare South Coast City is a waterside development being positioned to be the new home of prime entertainment and commercial concepts in Cebu. Developed by a consortium of SM Prime Holdings, Ayala Land Inc., and Cebu Holdings, Inc. South Coast City is expected to boost Cebu’s economic recovery efforts by further enhancing the region’s offerings and generating significant employment and investments. “With the South Coast City, we once again have an opportunity to make a mark and contribute to regional and national progress,” Anna Ma. Margarita “Meean” B. Dy, senior vice president and head of Ayala Land Estates Group said in a recent online press briefing. Bernard Vincent Dy, president and CEO of ALI stressed the big role of South Coast City not only in terms of boosting the economy of Cebu but also enhancing the quality of lives of the people. “Today our focus is set on a V-shaped recovery for our business and economy. We believe that our vision of ‘enhanc-

ing land and enriching lives for more people’ is now relevant more than ever, as we continue to build spaces that not only raise the quality of life for many, but also generate livelihood and employment for a great number of Filipinos,” Mr. Dy explained. “As one of the country’s fastest developing hubs, we believe this development will not only put a spotlight on Cebu as a destination of future growth—but will likewise elevate experiences and opportunities for Cebuanos and visitors alike,” Mr. Dy added. Located within the South Road Properties, the mixed-use estate will feature a commercial center (also known as District Square), a 1.1-hectare park, an Arena, a convention center, and other recreational facilities which cater to different age groups and varied interests. It also offers mobility convenience as the estate is only 50 meters away from SM Seaside City Cebu Mall; 2 kilometers from the Cebu South Bus Terminal; 4 kilometers from the Cebu City Seaport;

Anna Ma. Margarita “Meean” B. Dy, senior vice president and head of Ayala Land Estates

and just 11 kilometers from Mactan Cebu International Airport. Furthermore, South Coast City promotes convergence as it will connect North and South Cebu with Mactan. It is highly accessible through major highways including the Cebu South Coastal Road and the upcoming Cebu-Cordova Link Expressway or CCLEX (3rd Mactan Bridge). It’s also in proximity to other landmarks such as the SM Seaside City Cebu, Cebu Ocean Park, UP Cebu SRP Campus, Alta Vista Golf Course, and other residential and retail developments. “With this blank slate, we can create something Cebu has not seen before: a best of both world’s scenario. A contemporary development with the latest urban innovations with seaside views, and Cebu’s beaches just a short drive away,” Ms. Dy added. To make South Coast City a standout,

ALI will introduce urban innovations that are new and refreshing to the Cebu landscape. As with other Ayala Land estates, its design will integrate sustainable features such as an inclusive pedestrian and bike experience, convenient access points and transit options, dynamic wide open spaces and a 1.1-hectare park. This treecovered oasis is complemented by a wide array of shopping and dining concepts and covered walkways with scenic views and features. Within South Coast City is District Square, the only waterside commercial lot offering in Cebu. District Square presents a one-of-a-kind opportunity for business growth among investors, corporations, and entrepreneurs. It covers 2.7 hectares with 11 commercial lots for sale, all ranging from 1,777 to 2,601 sq m. A 4,000-sq-m park lane pedestrian system will connect the main areas of the commercial center that will encourage walking among professionals even during the busiest days. South Coast City will also be the venue for Cebu’s first-ever Arena, which will soon open as a place of convergence for many of the region’s highly celebrated events. As the country continues to adapt to the new normal standards, the Arena is being constructed as the future go-to destination for safe recreation and events. The land development construction of South Coast City is under way and scheduled for completion in May 2022. Meanwhile, the block development construction of District Square is already more than halfway through and is targeted to be completed by June 2022. “South Coast City is poised to be a top growth area in the bright spot in the Visayas and next bright spot on the horizon,” Ms. Dy pointed out.

Bria Homes partners with banks for horizontal and vertical projects

S Filipinos start regaining a semblance of the normalcy they used to thrive in, they are now restarting their lives with a priceless lesson: long-term financial stability. Culled from challenges the pandemic has wrought: As most of us know by now, the global health crisis upended life as we knew it. We were quarantined, we were socially distanced, we were told to shelter at home. However, Filipinos readily adapted to the “new normal” and the clever ones who acquired financial literacy put their money in properties, tagged by experts as one of the most lucrative investments yet. These days, prospective homebuyers are eagerly cashing in on the “property rush” as the Philippines’s leading real-estate developers present countless housing options to them. As one of the most prolific property developers in the Philippines, Bria Homes’ residential projects currently count more than 50 in key cities and towns nationwide. Bria’s property portfolio features horizontal developments like house and lot units in self-contained communities, as well as vertical developments such as affordable mid-rise condominiums. Included in Bria Homes’ vertical developments is their recently launched Astra Vertical Villages, dubbed as “the

BRIA Homes provides quality living spaces to anyone looking to invest in their future home.

future of condominium living.” The mid-rise residential condominiums offer amenities that are not commonly found in affordable living spaces, such as a swimming pool, a communal clubhouse, and complete g y m facilities. Astra likewise tout three important factors currently favored by homeseekers: affordability, accessibility and independence.

From its vast array of horizontal projects, Bria is rolling out Bria CityVille— small pocket developments that are a perfect fit for aspiring homeowners who crave for serene suburban life outside, but not too far from, the din and chaos of metropolitan living. Situated in Cagayan de Oro, Bria CityVille CDO offer access to essential establishments like schools, churches, retail hubs, and hospitals.

Rounding out the list of housing projects is Bria Executive Villages, exclusive residential enclaves located next to existing Bria communities in Baras, Rizal; Calamba, Laguna; General Trias, Cavite; and Calbayog, Samar. Bria Executive Villages are best suited for Filipino homeseekers looking to invest in more capacious living spaces than what is offered in other Bria horizontal villages. Having fully digitalized its business procedures, Bria Homes has forged a partnership with local banks like Maybank, BDO, UnionBank, PNB, Security Bank, RCBC, Metrobank, and AllBank. For contactless and cashless orders and payments, trusted e-wallets GCash, Paymaya, and All Easy may be utilized. These also provide Bria homeowners the means for hassle-free digital transactions such as remittances and amortization payments. In compliance with health protocols, prospective buyers may check out Bria Homes’ various house models at any time through Bria’s 360 Virtual Tours in www.bria.com.ph. Prospective investors are also encouraged to attend digital open-house events and live-selling should they need to inspect potential house-and-lot and rent-to-own units. Finally, inquiries may be done online through its Facebook page at www. Facebook.com/BriaHomesInc. Reni Salvador

N energy law mandating building owners to save power more efficiently will soon usher in marked improvements in the use of this finite resource, according to Leechiu Property Consultants’ (LPC) Executive Director Lylah Ledonio. She is also chair of the Real Estate Committee of the European Chamber of Commerce of the Philippines (ECCP). A provision of RA 11285 also known as the Energy Efficiency and Conservation Act (EE&C Act), for instance, requires building owners to use renewable energy, such as solar powered systems for lighting, heating water, cooling and the like, for at least 1 percent of their projected annual consumption. This is clarified by the Department of Energy’s (DOE) Guidelines on Energy Conserving Design of Buildings which took effect just last March 2021. At a recent ECCP forum sponsored by LPC for building owners, Director Patrick T. Aquino of the DOE’s Energy Utilization Management Bureau, also pointed out that big energy users such as buildings classified as designated establishments are now likewise required to monitor monthly consumption, set and achieve annual reduction targets which will then be verified through an energy audit to be submitted to the Energy Department every three years. “This law encourages landlords to refresh their mindset and improve their power usage,” observed Ledonio. She disclosed that building occupiers or tenants had in an earlier ECCP Real Estate forum, brought up a need to know the law more closely since their average consumption also subjected many of them to its provisions. Those who annually use at least 100,000 kWhE are covered by the EE&C Act. Being bigger power users, landlords would also likely reap more benefits in implementing energy efficiency measures in terms of savings, said Ledonio. Moreover, they were likely to enjoy better value from their property. Studies have pointed out that improvements in a commercial building’s energy usage can mean an increase in its rental rates from 2 to 5 percent, a reduction in tenant turnover and an average increase of more than 10 percent in its property value, pointed out Alexander Ablaza, president of the Philippine Energy Efficiency Alliance, at the same forum. Raymond Rufino, president and CEO of NEO, stated: “There is a compelling business case for the Energy Efficiency and Conservation Act because of the high power rates in the country.” The more a building owner invests in making his building more sustainable, the better the returns. While most building owners would like to implement energy efficiency measures, they are set back by the high cost of investing in new technology, and the competing priorities for the use of available capital budgets and credit lines for core business activities. Ablaza explained that they can also engage energy service companies (ESCOs) which deliver and guarantee energy savings. A portion of the savings in energy can be used to pay the services of the ESCO. At the end of a contract period, the building owner can then enjoy 100 percent of the savings. An ESCO can also assist a building owner find financing options. In the meantime, Ricardo Cuerva, managing director of the Nova Group, urged building owners and developers to view energy efficiency as merely the first step in averting climate change. He pointed out that buildings contribute significantly to carbon emissions mainly because of the steel and cement used in their construction. “As an industry, we need to focus on rapid innovation in the manufacturing of these key components to greatly reduce emissions,” he said. Anticipating a need to address more fully these and other related concerns, the ECCP Real Estate Committee will host another forum in July. For details, pls write to advocacy@eccp.com.

Sports

Touring ladies open campaign in Sherwood

BusinessMirror

| Wednesday, July 7, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

111 cyclists see action in road trials in Clark

TOTAL of 111 cyclists—98 men and 13 women—will pedal on the roads of the Clark Freeport and Special Economic Zone in Pampanga this weekend for the PhilCycling National Trials for Road which feature races in individual time trial (ITT), criterium and massed start. Day 1 on Saturday of the trials presented by Standard Insurance, Smart, MVP Sports Foundation, Bases Conversion and Development Authority headed by Secretary Vince Dizon and the Clark Development Corp. led by Retired Brig. Gen. Manuel Gaerlan will see 13 women racing against the clock starting at 8 a.m. over a distance of 17.1 kms. Half an hour later, 54 men will vie in their own ITT over the complete 24.6-km loop which will also be the battleground for the road races set for Day 2 on Sunday. The Saturday afternoon criterium will see the same set of riders competing around the 2.3-km perimeter of the Clark Parade Grounds. The women’s race consists of 16 laps and the men’s contest 20 laps with three and four intermediate sprints, respectively, awarding 5, 3, 2, 1 points—doubled in the final lap—to the top four riders. “We will be witnessing competitive cycling right on Day 1 of the Trials and with the road races set for Sunday, this event is one compact competition,” Philippine Olympic Committee (POC) and PhilCycling President Rep. Abraham Bambol Tolentino said. The Clark races backed by Go for Gold, Chooks-to-Go, GAC Motor (official mobility partner), Gatorade (official sports drink), Versa (communications partner), 7-Eleven, Le Tour de Filipinas , UBE Express Inc., Powerade, Wilkins, Coca-Cola, Shimano, Bike-X and MadCrank are PhilCycling’s second trials during the pandemic after the MTB Trials in Danao City last month. The races will be staged under a bubble environment as prescribed by the Central Luzon Regional Task Force, Office of Civil Defense, Department of Health, Philippine National Police, Province of Pampanga and the Department of Tourism. All participants have to undergo RT-PCR and Antigen testing and fans will not be allowed in the bubble staging area at the venue.

By Josef Ramos

T’S back on the road and in the gym for Filipino boxing icon Manny Pacquiao as he opens training camp in Los Angeles for his August 21 fight with unified world bantamweight champion Errol Spence Jr. Pacquiao arrived in LA on Monday after his flight was delayed for a day but he immediately buckled down to business with his usual high-intensity jogging and workout with the mitts at Freddie Roach’s Wild Card Gym where his monumental career was polished. Although it was not the typical cat-quick Pacquiao on Monday, Fred Sternberg, Pacquiao’s longtime American publicist—told BusinessMirror that the fighting Senator was impressive on the first day of his six-week training camp. “The senator ran all around this morning and he looked very energetic in the gym,” Sternberg said. “He had nine rounds with Freddie [Roach] at the mitts.” Sternberg said signs that the sitting senator is in town are audible from outside the worldrenowned gym. “You can hear his punches outside

PACQUIAO RUNNING the gym, that’s how loud they were,” Sternberg said. “Freddie just thought he’s very strong for this stage of training camp, very sharp, and didn’t miss anything.” Pacquiao will be fighting his toughest challenge as a 42-yearold when he faces the undefeated International Boxing Federation and World Boxing Council welterweight champion Spence, 31, at the T Mobile Arena in Las Vegas, Nevada. “Spence is very good, he is young and he has stamina, he is very smart,” Sternberg said. “So Manny is going to do everything he can to maximize everything and he cannot make a mistake.” Sternberg said a victory by Pacquiao will earn him the Fighter of the Year title. “I think he can do it [upset Spence], but it’s going to be hard,”

he said. But Pacquiao, he added, would definitely improve in the next six weeks. “He has a six-pack abs already, he has a game plan and they are working on strategy,” he said. “He always comes prepared.” Besides Roach, Pacquiao’s chief trainer Buboy Fernandez, assistant trainers Jon Peñalosa and Nonoy Neri as well as strength and conditioning coach Justin Fortune are managing Pacquiao’s training. BusinessMirror, meanwhile, learned that Pacquiao has yet to be inoculated with the anti-Covid-19 vaccine and has hiked his close-in security to prevent getting infected. Pacquiao, BusinessMirror also learned, fears of possible side effects if he gets the vaccine before the fight.

SEN. Manny Pacquiao buckles down to work in Los Angeles. COURTESY JHAY OH OTAMIAS

Gebbie, Rule brace for tough debut in Olympic swimming

LUKE

RULE

UKE GEBBIE and Remedy Rule are making their Olympic debut in Tokyo later this month and are bracing for a tough but fruitful challenge. “I think people need to try to understand just how difficult swimming is, it’s a very difficult thing to do,” the 24-year-old Filipino-New Zealander Gebbie told BusinessMirror on Tuesday from his training camp in Melbourne, Australia. “But nothing is impossible. I will do my best.” Gebbie and Rule were named to Team Philippines by virtue of the International Olympic Committee universality rule. “I want to finish all my races, knowing I gave it my all, that I did my

best, enjoyed racing at the pinnacle of my sport, and made my country proud,” the Filipino-American Rule, also 24, said from Texas. “I am hoping to have a lasting legacy for Philippines swimming, both on how I compete in the pool and carry myself outside the pool.” Gebbie is entered in the men’s 50-meter and 100-m freestyle, while Rule will be competing in the women’s the 100-meter and 200-m butterfly in the swimming events that start on July 24 at the Tokyo Aquatics Center. “My goal is to go there, compete and have a lot of fun, taking the whole experience and the atmosphere, said Gebbie, who holds a Finance and Economics double degree from the University of Melbourne. “I’ll do my best and make my support team and my family proud.” “I can come up with a national record, it will be amazing,” he added. Gebbie trained nine times a week at the University of Melbourne pool and is now tapering down. Rule said she is still in shock about getting the ticket to Tokyo.

“I have had this dream to compete in the Olympics when I first began swimming. I remember watching the Beijing Olympics, cheering for Michael Phelps on TV as he went for his eight golds when I was eleven,” she said. Rule is not all swimming, she owns a bachelor’s degree in Science Option in Marine and Freshwater Science from the University of Texas. Gebbie and Rule joined pole vaulter Ernest John Obiena, sprinter Kristina Knott, gymnast Carlos Yulo, rower Cris Nievarez, skateboarder Margielyn Arda Didal, shooter Jayson Valdez, taekwondo jin Kurt Ryan Barbosa, weightlifters Hidilyn Diaz and Elreen Ann Ando and boxers Felix Eumir Marcial, Carlo Paalam, Nesthy Petecio and Irish Magno on the team to Tokyo. No Filipino athlete has won an Olympic medal since Teofilo Yldefonso capture back-to-back bronze medals in the 1928 and 1932 Games. Josef Ramos

JABS DONE Rio Olympics silver medalist Hidilyn Diaz receives her second dose of the AstraZeneca anti-Covid-19 vaccine on Monday at the Universiti Kebangsaan in Selangor, Malaysia. Diaz and her team will fly to the Tokyo Olympics from Malaysia on July 18.

Natividad leads Blazers’ charge

VisMin Cup resumes Wednesday

OLLEGE of St. Benilde’s (CSB) Loralee Natividad bagged the welterweight gold medal in women’s speed kicking of taekwondo to highlight the Lady Blazers dominance in virtual National Collegiate Athletic Association Season 96 on Monday. Natividad, the women’s Most Valuable Player, scored 7.067 points to to rule the category, beating Aliciarose Gonzales of Season 96 host Letran, who finished with 6.400 points for the silver, and another Lady Knight Shiela Mae Samson who registered 6.317 points for the bronze. Two other CSB athletes won—Anne Christine Obenza (middleweight) and Lucille

HE Mindanao Leg of the 2021 Chooks-to-Go Pilipinas VisMin Super Cup finally got the nod of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases to tip off on Wednesday at the Ipil Provincial Gym in Ipil Heights, Zamboanga Sibugay. It was a hectic Tuesday for league officials headed by Chief Operating Officer Rocky Chan as they had two days to secure a clearance from the local government unit and the Games and Amusements Board to begin competition on Wednesday. After completing all requirements—health screening, drug testing and related documents—the league got the clearance at the close of offices at 5 p.m. on Tuesday.

“We are just happy that Ipil, Zamboanga Sibugay accepted us without hesitation as we tip off our Mindanao leg,” Chan said. “We would like to thank Mayor Anamel Olegario and Governor Wilter Palma for hosting our games and the GAB, headed by Chairman Baham Mitra, for giving us the necessary licenses to resume our league. Powerhouse squads ALZA Alayon Zamboanga Del Sur and Basilan Peace Riders kick off hostilities at 1 p.m. Dan Sara is expected to be the leader of ALZA Alayon while the Peace Riders, formerly the Steel, are hungry to play after their exit from the Maharlika Pilipinas Basketball League. Teytey Teodoro and the Kapatagan Buffalo Braves take on Jericho Montecalvo and the Iligan

City Archangels in the second game at 3 p.m. The Mindanao Leg of the league was initially scheduled to begin on June 22 in Pagadian City. But Zamboanga Del Sur was placed under Modified Enhanced Community Quarantine since June 15 while Zamboanga Sibugay is under General Community Quarantine. Games in Ipil will take place on July 7, 8, 9, 11 and 13. The league and Pagadian City are hoping to begin play at Plaza Luz starting on July 15 if quarantines are eased. The Mindanao Leg also features the Roxas Vanguards, the Pagadian Explorers, the Clarin Sto. Nino, the MisOr Brew Authoritea and the Zamboanga City JPS.

sparking the Bucks’ historic return to the Finals in nearly half a century. Middleton, 29, capped his twogame heroics by banging home 32 points in the Bucks’ Game Six, 118107 series-clincher on Sunday. The Olympics-bound Middleton punctuated his pointsproducing prowess by firing 23 third-quarter points to practically contain single-handedly a late Hawks surge. So suddenly prolific was Middleton that he averaged 29.8 points per game in Milwaukee’s final 2 games of the Bucks’ last two series against Brooklyn and Atlanta, respectively, after Milwaukee first ousted Miami. Calm, cool and collected

was how Bucks forward Pat Connaughton describes Middleton, who is expected to continue spearheading Milwaukee’s aborted championship dream in 1974. Even if Antetokounmpo plays today, the Greek Freak’s condition is suspect and he might not be at his best in a series that demands durable brutality. If there’s one big thing going for the Bucks, it is that they’ve been NBA champs once—in 1971, when they dealt the Baltimore Bullets a 4-0 swamping behind the legendary Kareem Abdul-Jabbar, then known as Lew Alcindor. The Bucks were in the Finals again in 1974, but they lost to the Boston Celtics in seven grueling

games after Jabbar’s buzzer-beating skyhook in Game Six sent the series to a deciding Game Seven. Still, the odds favor the Western Conference champion Phoenix Suns, who beat the Lakers, Nuggets and Clippers on their way to the Finals—all because of Chris Paul. Paul is the master of the pickand-roll and owns the league’s highest shooting percentage from the perimeter. In the Suns’ series-clinching win over the Lakers, Paul made 41 points, eight assists and had zero turnovers, making 122 assists in 14 playoff games thus far this year. The Suns are hungrier than the Bucks as they have yet to win a crown, losing to the Chicago Bulls

Cunanan (heavyweight) in the competition televised over GMA7’s GTV. The Blazers actually went 1-2 in the middleweight division behind Obenza’s gold medal winning performance of 6.583 points after Ashley Judd Felipe clinched silver with 6.175 points. Arellano University’s Kezia Eustaquio scored 6.142 points to complete the podium. Lucille Cunanan capped CSB’s dominance in the women’s division by winning the heavyweight gold with 6.475 points. Arellano University’s Beverly Michelle Bandiola recorded 6.358 points for the silver, while San Beda’s Roxanne Candatu had 6.083 points for the bronze.

With Paul as ‘Point God,’ Suns favored AL MENDOZA | alsol47@yahoo.com

THAT’S ALL THE wise pick is Phoenix over Milwaukee. Surprised? Not me. Even days before the National Basketball Association (NBA) Finals could begin on Wednesday, Milwaukee wasn’t 100 percent healthy. That’s because its top gun, the two-time MVP Giannis Antetokounmpo, wasn’t totally fit himself.

But then, even with Antetokounmpo absent in Games Five and Six due to a knee injury, the Bucks bounced off the Atlanta Hawks both times to win the Eastern Conference crown, 4-2. Khris Middleton more than made up for Antetokounmpo’s absence as he consistently produced double figures in

HE Ladies Philippine Golf Tour (LPGT) marks its second restart in the new normal with a four-leg, five-week swing in Cavite with the touring ladies wary of the challenge coming off a long layoff but keen on dishing out their best in pursuit of top honors. That guarantees a spirited battle right in Wednesday’s start of the International Container Terminal Services Inc. Sherwood Ladies Challenge with the par-72 Sherwood Hills Golf Club in Trece Martires expected to provide a test to a field out to shake off the rust and get back into the game following a three-month break due to spike of coronavirus cases last March. But with the government’s vaccination program moving at full throttle the past two months, things are looking up, particularly for the sport with the organizing Pilipinas Golf Tournaments Inc. keeping the ladies of the tour busy in the next five weeks with four bubble tournaments in various courses under the Inter-Agency Task Force for the Management of Emerging Infectious Diseases and the Games and Amusements Board’s strict health and safety guidelines. Harmie Constantino and Princess Superal rekindle a brewing rivalry after the former thwarted the latter to claim the International Container Terminal Services Inc. Eagle Ridge Challenge crown at Aoki before play was suspended. That dashed whatever hopes Superal had had for a payback with the multi-titled campaigner shifting her focus on staying in shape and at the same time improving her game during the break at Orchard and Southwoods. Constantino also made sure to stay in top condition through regular workouts, gym work and short game and putting drills, making the former national standout A-ready for a crack at the second straight crown in as many stints as a pro. But the likes of Daniella Uy, Chanelle Avaricio and Marvi Monsalve, along with Sarah Ababa, Sunshine Baraquiel, Apple Fudolin, Gretchen Villacencio and Sheryl Villacencio are also coming into the event put up by ICTSI eager to get going and hungry for recognition. Former leg winner Chihiro Ikeda is likewise tipped to contend for the crown after missing the last tournament due to injury while amateurs Jane Jeong, Lizbeth Alcantara and Burberry Zhang spice up the cast in the P750,000 tournament with an eye at crowding the pros for top honors.

CHANELLE AVARICIO is in the mix.

in the 1993 NBA Finals. For being the NBA’s most consistent playmaker, both in the regular season and the playoffs, Paul has been renamed from “Point Guard” to “Point God.” Thus, your 180-peso bet for the Suns will win 100 pesos if the Suns swipe the title, and your 100-peso bet for the Bucks will earn you 145 pesos if the Bucks prevail. Place your bets. THAT’S IT Advance birthday greetings (9 July) to Malaya M. Sadiwa, the famed content writer/ filmmaker/book author and dearest Nanay to MayaSoh and Ikap and kindly wife to computer tekkie Ricky. Cheers!