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‘GOVT TO HALT 12% VAT www.businessmirror.com.ph

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Thursday, July 22, 2021 Vol. 16 No. 281

P.  |     | 7 DAYS A WEEK

ON EXPORTER DEALS’ HUGE parts of Metro Manila were flooded on Wednesday, stranding thousands of workers and motorists, including hundreds lining up for vaccinations against Covid-19. The NCR and Luzon are having bad weather due to the southwest monsoon enhanced by Typhoon Fabian and Tropical Storm Cempaka, which is outside the country’s monitoring area, state weather bureau PAGASA said. Scenes from Wednesday (from top left, clockwise) SM Mall of Asia’s iconic globe, a woman wading in Manila, vehicles braving P. Ocampo Street in Manila and on Chino Roces in Makati. NONIE REYES/ROY DOMINGO

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B J M N. D C @joveemarie  T J C. P @Tyronepiad

ENDING “corrective legislation,” the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) have agreed to suspend the implementation of Revenue Regulation 9-2021, which imposed 12-percent value-added tax (VAT) on certain exporter transactions previously taxed at zero percent.

House Committee on Ways and Means Chairman Joey Sarte Salceda announced this on Wednesday, after his committee held a briefing also on Wednesday with several agencies and stakeholders amid exporters’ concerns that the said rule could “cripple industry.”

“The DOF agreed today [Wednesday] to suspend RR 9-2021 pending new legislation that will

correct the rule from the Tax Reform for Acceleration and Inclusion [TRAIN],” Salceda said.

RR 9-2021 was issued pursuant to the provisions of Republic Act (RA) 10963 or the Tax Reform and Acceleration and Inclusion Act (TRAIN) (Sections 106(A)(2) (a) and 108(B) of the Tax Code of C  A

Bankers see low growth, but stable industry—poll

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OCAL lenders see the Philippine economy underperforming against the government’s target range for the year as the lingering effects of the global health crisis will still likely hurt the country’s prospects of recovery.

However, amid their gloomy outlook on the Philippine economy, banks reported an improved outlook on their industry’s performance for the year.

The results of the Bangko Sentral ng Pilipinas’ (BSP) latest Banking Sector Outlook Survey (BSOS) in the first half of the year showed that most banks, representing 41.9 percent of the respondents, expect the country’s gross domestic product (GDP) growth to range between 5 percent and 6 percent within the two-year horizon.

This is below the latest government target growth range of 6 to 7 percent in 2021. In the first quarter of the year, local GDP contracted by 4.2 percent due to the continued restrictions in economic activity.

Meanwhile, 20.9 percent of survey participants

project GDP growth of between 6 percent and 6.3 percent. “Banks report subdued optimism on the country’s economic prospects due to uncertainties brought about by the resurgence of Covid-19 cases, reimposition of targeted lockdown measures and delay in the vaccination rollout in the first quarter of 2021,” the BSP said.

Banking system outlook

HOWEVER, amid the banks’ gloomy outlook on the country’s economic prospects, their overall outlook for the banking system remains stable.

In particular, 76.3 percent of the banks projected a stable Philippine banking system in the next two years. This was higher than the Philippine banking system overall outlook for the second semester of 2020 wherein 68.8 percent of the industry leaders forecasted a stable sector.

DOMINGUEZ: GOVT NOT ‘GUN SHY’ IN SPENDING FOR COVID-19 RESPONSE B C U. O @caiordinario

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HE national government was not “gun shy” in terms of helping Filipinos who lost their jobs and sources of livelihoods during the pandemic, according to the Department of Finance (DOF).

In the Financial Executives Institute of the Philippines (Finex) forum on Wednesday, Secretary Carlos G. Dominguez III said the national government could “reconsider” its current policy on spending if such is warranted in light of the threat of the Delta variant.

The administration has been criticized for the amount of Social Amelioration Program (SAP) it gave to Filipinos forced to stay home by lockdowns.

Apart from the amount received, some groups have said the amount allocated would not be able to cover all those who are in need.

“What we want to do is do what is reasonable and affordable for us and future generations. If we have a more difficult situation, of course we will reconsider the path we are on,” Dominguez said.

“We’re not gun shy and we will keep our mind open to all possibilities. But as of the moment, I think we have tread a path that is sustainable, that is reasonable and I think that has preserved our resources for

possible events such as another surge,” he explained.

P660B so far

DOMINGUEZ said the recent report from the Department of Budget and Management (DBM) stated that the government has already spent P660 billion for the country’s Covid-19 response.

He said the government has also allocated $1.7 billion for the purchase of vaccines.

Of this amount, $1.3 billion was obtained by the government through loans from the World Bank, Asian Development Bank, and the Asian Infrastructure Investment Bank.

This has allowed the government to procure vaccines, he said, adding that the country has already received 28 million doses in the second quarter. Additional 71 million doses will also be received by the third quarter and 55 million in the last quarter of the year.

“We literally have the resources to acquire more than enough vaccines to inoculate a hundred percent of our adult population this year. The only thing holding back our vaccination program is tight global vaccine supply,” Dominguez said in his presentation at the Finex forum.

“Plans for future horizon vaccines are now being evalu-

Catastrophe risk policies likely priced by ‘zones’ B B C

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@BcuaresmaBM

HE Philippine Catastrophe Insurance Facility (PCIF) framework will likely price catastrophe risk policies by so-called risk zones, Philippine Insurers and Reinsurers Association (PIRA) Chairman Allan Santos bared on Wednesday.

Speaking at the First Virtual Philippine Insurance Summit—a two-day event of industry updates and discussions on environmental issues, pandemics, innovation and disaster management, Santos said the PCIF technical working group (TWG), in collaboration with the World Bank, is currently in the process of modeling the rates for the catastrophe perils.

In February 2020, the Insurance Commission (IC), PIRA and the National Reinsurance Corp. of the Philippines (Nat Re) signed a memorandum of understanding (MOU) to col-

laborate on the development of the PCIF. The PCIF is a private-sector led facility for non-life insurers. Its aim is to redirect the catastrophe risks to the facility that shares the pooled risks with the participating companies.

By doing so, the facility capacitates the insurers to cover catastrophe risks and manage their exposures to catastrophes more effectively.

The target implementation date of the facility is April 2022.

‘Aggressive target’

“THIS is quite an aggressive target date but the technical working group is diligently working toward that target,” Santos said.

“This only applies to the catastrophe. We are looking at typhoons, earthquakes and floods. So at this stage the technical working C  A

C  A

S “B,” A

PESO EXCHANGE RATES ■ US 50.4440

■ JAPAN 0.4592 ■ UK 68.7552 ■ HK 6.4899 ■ CHINA 7.7793 ■ SINGAPORE 36.9310 ■ AUSTRALIA 36.9755 ■ EU 59.4382 ■ SAUDI ARABIA 13.4496

Source: BSP (July 21, 2021)

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News BusinessMirror

Thursday, July 22, 2021

Catastrophe risk policies likely priced by ‘zones’ C  A

group, with the help of a few brokers and the World Bank, is modeling the rates for the catastrophe perils,” he added.

The PIRA president said the emerging idea is that the pricing will vary depending on the “risk zone” such as a province to reflect the risks involved in the rates unlike the present practice where rates are uniform for all typhoons or all earthquakes, etc.

Wider public access—Funa

“THE efficient management of catastrophe exposure among our issuers will further result in a more risk appropriate rating environment that would ensure sustainable catastrophe premium rates,” IC Commissioner Dennis Funa said.

“This will provide the public with a wider access to catastrophe insurance protection,” he added.

Earlier this year, international credit watcher Moody’s Investor Service assigned a negative ESG credit impact score for the Philippine economy. ESG stands for environmental, social and governance.

“The Philippines’s overall issuer profile score is highly negative [E-4], given the high incidence of climate-related shocks, including typhoons and extreme precipitation leading to flooding. In addition, the relatively large, albeit declining, share of the labor force employed by the agricultural sector heightens the country’s susceptibility to heat stress given the periodic episodes of drought,” Moody’s earlier said.

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Credit growth seen to rebound

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B B C

@BcuaresmaBM

NTERNATIONAL credit watcher Moody’s Investor Service said the country’s credit growth is headed for a rebound this year, as the central bank’s decision to cut rates to record lows will pay off.

In an analysis published on Wednesday, Moody’s said it forecasts credit in the country to rebound to about 5-percent in 2021 and continue further to 15 percent in 2022.

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that bank lending continued to contract in May, albeit at a slower pace from April contraction. In particular, bank lending declined by 4 percent in May. This is slower than the 5 percent contraction recorded in the previous month.

Bank lending first fell into contrac-

tion territory in December 2020 by 0.7 percent. May is the sixth consecutive month of bank lending contraction despite BSP’s aggressive efforts to lower interest rates and boost liquidity conditions.

In comparison, the Philippines’s bank lending grew 13.6 percent before the onslaught of the global health crisis in March 2020.

Moody’s attributed this view to BSP maintaining its record-low policy rates and lowering banks’ reserve requirements to encourage lending.

“The Philippine banking system is mainly funded by customer deposits with minimal reliance on wholesale funding, which protects the banks’ funding profi les from the effects of excessive market volatility,” Moody’s said.

“BSP’s target to further cut the reserve requirement ratio [RRR] to a single digit by 2023 from the current level of 12 percent will further support the banking system’s liquidity amid uneven economic recovery,” it added.

The bank’s low-cost and stable current and savings accounts accounted for 69 percent of total funding as of yearend 2020.

The loan-to-deposit ratio (LDR) improved to 69 percent as of year-end 2020 from 76 percent as of year-end 2019 because of lower loans in 2020.

Moody’s also noted that while the system is highly concentrated at the top, with the top 3 banks accounting for 47 percent of system loans in 2020, there is robust competition in the industry with “no single bank dominating the market.”

The credit watcher forecasts the country to grow by 5.8 percent for this year, before rising further to 6.5 percent in 2022.

Bankers...

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The report also said the banks’ expectations of improvement in economic growth and stable outlook on the Philippine banking sector influenced 60 percent of the respondents to project double-digit growth in bank assets for the year.

“The upbeat expectations of the banking system based on the results of the Banking Sector Outlook Survey [BSOS] for the first semester of 2021 is testament to its confidence in the strong mediumterm prospects of the country’s economy,” BSP Governor Benjamin Diokno said.

Local banks also intend to maintain their Basel capital and liquidity ratios at levels higher than domestic and global standards to promote institutional stability and strengthen capacity to support requirements of a growing economy. The survey also showed that the majority of banks expect their nonperforming loan ratio (NPL) to exceed 5 percent in the next two years.

In particular, universal and commercial banks see their NPL ratio settling between 3 percent and 6.5 percent in the next two years. This is, however, accompanied by greater prudence in the management of credit risk by the industry as a higher number of banks intend to report NPL coverage ratios of more than 50 percent to 100 percent. Bianca Cuaresma

‘GOVT TO HALT 12% VAT ON EXPORTER DEALS’ C  A

1997, as amended). Th is provides that certain transactions previously considered zero-rated shall be subject to 12-percent VAT upon satisfaction of two conditions: (1) The successful establishment and implementation of an enhanced VAT refund system, and that (2) All pending VAT refund claims as of December 31,

2017 shall be fully paid in cash by December 31, 2019.

However, Section 5 of Rule 18 of the recently signed implementing rules and regulations (IRR) for fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act provides that VAT zero-rating on local purchases of registered business enterprises (RBEs) may still apply, provided such locally purchased

goods and services are directly and exclusively used in the registered project or activity of the RBE during the period of registration of the registered project/activity of the enterprise.

However, some quarters said the DOF’s remarks were “vague” owing to Secretary Dominguez’s apparent caution in replying to reporters’ questions.

Asked if the review being done may be considered a deferment of the RR, Dominguez said this was “technically correct” given the implementation of the tax.

“Regulations were issued at the end of June. VAT returns are quarterly. So if we start implementing CREATE this quarter July, it’s technically deferred to this quarter and returns are due 25th day after the end of the third quarter,” Dominguez said.

Meanwhile, Dominguez told reporters on Wednesday that the review of Revenue Resolution (RR) 9-2021 imposing a 12-percent value-added tax on goods and services may be completed by the end of the month.

The new RR will slap a 12-percent value-added tax on the sales of certain goods and services that were previously subjected to zeropercent VAT. With the decision to suspend, Salceda said the following transactions will revert to their zero-rated status: ■ Sale of raw materials or packaging materials to a non-resident buyer for delivery to a local exportoriented enterprise; ■ Sale of raw materials or packaging materials to an exportoriented enterprise whose export sales exceed 70 percent of total annual production; ■ Those considered export sales under Executive Order (EO) 226, or the Omnibus Investment Code of 1987, and other special laws (Section 106 (A) (2) (a) (5) of the Tax Code, as amended); ■ Processing, manufacturing, or repacking goods for other persons doing business outside the Philippines, which goods are subsequently exported; and ■ Services performed by subcontractors and/or contractors in processing, converting, or manufacturing goods for an enterprise whose export sales exceed 70 percent of total annual production.

Scrap altogether—Peza

MEANWHILE, the Philippine Economic Zone Authority (Peza) still wants the BIR to scrap the new tax regulation for exports altogether.

“We’ll await for the—hopefully—total repeal of the VAT RR inserted in the CREATE IRR, to be assured not just of the deferment but continuity of the zero VAT incentives provided to separate customs territory of Peza law,” Peza Director General Charito Plaza told the BM on Wednesday.

She said the same perks are also being offered to other countries’ economic zones and free port zones, making the local industry competitive.

Earlier, Plaza stressed that the implementation of the RR is an additional burden to the registered business enterprises.

Implement CREATE

ACCORDING to Salceda, the DOF will implement the provision of the CREATE Law, which allows exporters to enjoy VAT zero rating on local purchases of goods and services directly and exclusively used in its registered project or activity.

“CREATE hopes to ease the operations of exporters, enhance the country’s competitiveness, and encourage sourcing of materials from local suppliers. That’s the spirit of the legislation. That’s why it insists on the zero-rating for local inputs, on top of enhanced deductions for them,” he explained.

“This decision is very crucial.

Manufacturing is only beginning to pick up this year, out of last year’s closures and work suspension. It will allow the recovery momentum of the sector to continue,” Salceda said.

’Corrective legislation’

MEANWHILE, Salceda said he will continue to work with BIR and DOF to write “corrective legislation” to address small exporter concerns on the refund system and on audits.

“I thank Secretary Dominguez for the decision they made today. It satisfied stakeholder concerns and their commitment to draft corrective legislation with me is a productive step forward,” Salceda said.

“The DOF says one issue with the audit system, that forces them to audit everyone who seeks a refund, is that the Commission on Audit is also very strict with the refund system. So, my proposal is to relax the rules a bit for small de minimis claims, since it’s really not worth the time of tax administration,” Salceda said. He said a de minimis system will unburden small exporters who are less likely to have the resources to comply with lengthy administrative procedures.

“This practice is in parallel with Section 423 of the CMTA [Customs Modernization and Tariff Act], which provides that no duties and taxes shall be collected on goods with freight onboard or free carrier value of P10,000.00 or below,” he added.

“That practice of risk-based auditing is already the norm in most advanced tax jurisdictions. You go to Japan or Singapore to purchase some goods as a tourist, and at the airport, you can get your VAT refund over the counter. Ideally, that’s a system you want here as well,” the lawmaker said.

With Cai U. Ordinario

DOMINGUEZ: GOVT NOT ‘GUN SHY’ IN SPENDING FOR COVID-19 RESPONSE C  A

ated for 2022 onwards. These include the inoculation of our children as well as the administration of booster shots for those already vaccinated. The proposal is to include such supplemental amounts in the 2022 budget,” he added.

Local revenues

IN a cable TV interview, Dominguez said should the government require additional funds, these can be raised through local revenues which have already started to recover.

He noted that the government’s revenues have increased by 13 percent to P1.245 trillion in the January-to-May period this year versus the P1.102 trillion recorded in the same period last year.

Dominguez said the pandemic was to blame for the decline in revenues. Total revenue collection in 2020 contracted 9 percent to P2.856 trillion from $3.138 trillion in 2019.

Should the local revenues be insufficient, Dominguez said the Philippines can still access the credit markets in order to raise what it needs to plug the deficit.

“Lower revenue collections and a higher public health bill translate into budget deficits. To cover the budget gap, we had to borrow more. It is a necessity. This is the way the world works. Fortunately, with our high credit ratings, it was not difficult to engage in emergency financing with concessional rates,” Dominguez told the Finex forum.

However, he admitted there is only so much the government can do to raise funds and so far that domestic resources can go. Dominguez said this is where the passage of key legislations is crucial.

The passage of the Public Service Act and the Retail Trade Liberalization Act, for instance, is vital in making the country a more attractive destination for foreign investments, he said.

He admitted that the country may not have enough domestic resources to finance high-quality services that Filipinos need. This includes telecommunication services which have been crucial in work and study from home arrangements while observing the lockdown rules.

“Why will you limit, for instance, owning a telco, to 40 percent for foreign investments. Quite frankly, I don’t think we have enough money to, enough resources domestically to give the Filipino people the type of telco they need,” Dominguez said.

Based on data from the Philippine Statistics Authority (PSA), total foreign investments (FI) approved in the first quarter of 2021 reached P19.55 billion, a 32.9-percent contraction from P29.14 billion in the same period in 2020.

The FI commitments for the first quarter of 2021 were mainly driven by investments from Japan which accounted for 54.8 percent of the total approved FI, followed

by Cayman Islands with 5.8 percent and South Korea, 3 percent.

Japan committed P10.72 billion, while Cayman Islands and South Korea pledged P1.14 billion and P592.63 million, respectively.

Approved projects with foreign interest in the first quarter of 2021 were projected to generate 18,416 jobs based on reports of the Investment Promotion Agencies (IPA).

The data was collected by the PSA from the Board of Investments (BOI), Clark Development Corp.

(CDC), Philippine Economic Zone Authority (Peza), Subic Bay Metropolitan Authority (SBMA), Authority of the Freeport Area of Bataan (AFAB), and Cagayan Economic Zone Authority (Ceza).

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Thursday, July 22, 2021 A3

Rains flood critical NCR roads; classes, work halted

By Claudeth Mocon-Ciriaco @claudethmc3

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HE Metropolitan Manila Development Authority (MMDA) on Wednesday reported that parts of Metro Manila experienced flooding due to intermittent southwest monsoon (Habagat) rains enhanced by Typhoon Fabian on Wednesday noon.

Some parts of metropolis inundated by floodwaters and rendered impassable to light vehicles as of 12:30 p.m. are the following roads: Mandaluyong: Edsa-Ortigas (from POEA building)-8 inches deep; Edsa-Magallanes (Pasong Tamo tunnel)-8 inches; F. Ortigas-Boni Avenue; Maysilo Circle -12 inches deep; Taft Avenue near the National Museum; Ramon Magsaysay-Pureza; España Antipolo-San Diego; Buendi-Filmore; Andrew-Aurora Manila: Roxas Blvd-Quirino Avenue (service road)-8 inches; Taft corner Ma Orosa -16 inches deep; Quezon City: Aurora-Araneta-8 inches deep; E. Rodriguez-Araneta-10 inches deep

Pumping stations

THE MMDA also assured that the agency is continuous on its efforts to solve flooding concerns in the metropolis.

This include dredging, desilting, and clearing of waterways, adding that all 67 pumping stations around the National Capital Region are operational.

On Wednesday, MMDA Chairman Benjamin “Benhur” Abalos Jr. led the inauguration at the Aglipay Bridge and Pumping Station in Mandaluyong to address the flooding problem in low lying nearby communities like the areas of Boni Avenue and F. Ortigas.

Abalos said that the pumping station is equipped with two submersible engine pumps.

The water, which would be pumped from the area, will go to San Juan River while trash nets will be installed in place to haul garbage to ensure that trash won’t damage the pumps.

During the ceremony, Abalos said that the MMDA is studying the Metro Manila terrains and is planning to add pumping stations as part of the agency’s initiative to mitigate flooding in the metropolis.

“Regardless of how much and how frequent we pump flood water, if the public is still throwing their garbage anywhere, the problem won’t be addressed. This is why we need to strictly enforce sanction for violators

MOTORISTS wade through a knee-deep flood along Pablo Ocampo street in Makati City after intermittent heavy rains spawned by the southwest monsoon enhanced by Typhoon Fabian drenched most parts of Metro Manila and outlying areas. ROY DOMINGO

and involve them in cleaning our waterways,” Abalos said.

The MMDA chief also said he had already appealed to Metro Manila mayors to pass a resolution penalizing those who indiscriminately dump their waste and include community service as sanction for violators.

Suspended

CNN Philippines, meanwhile, reported that classes and work in some areas affected by monsoon rains were ordered suspended on Wednesday.

The University of Santo Tomas in Manila suspended face-to-face classes and office work at 12 noon.

“Asynchronous activities may be given to continue educational delivery,” UST said in an advisory posted on Twitter.

Governor Abet Garcia canceled classes in all levels and work in government offices in Bataan, except for those involved in di-

House panels OK substitute bill enhancing PCC’s mandate

By Jovee Marie N. Dela Cruz @joveemarie

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HE House Committee on Economic Affairs and House Committee on Trade and Industry on Wednesday jointly approved a bill strengthening the Philippine Competition Commission (PCC).

The approved measure substituted House Bill (HB) 5906 of Marikina Rep. Stella Luz Quimbo and HB 6243 of Economic Affairs Chairman Sharon Garin of AAMBIS-OWA. Quimbo, a former PCC commissioner, said the passage of the bill is needed to strengthen the powers of the commission and to increase the agency’s effectiveness.

According to Quimbo, one of the amendments to Republic Act 10667, or the Philippine Competition Act seeks to increase enforcement powers of the PCC against cartels.

She said it also seeks to increase the agency’s effectiveness by incentivizing its staff, as their pay is deemed not competitive enough.

“We want to match it with Bangko Sentral ng Pilipinas’ [salary] level and bring [in the] best lawyers and economists in the agency,” she said.

Quimbo also said the bill also institutionalized a national competition policy by directing government agencies to review their policies and make sure that none of them are anti-competitive.

Moreover, Negros Occidental Rep. Jose Francisco Benitez, chairman of the technical working group (TWG) that drafted the bill, said the measure expands the definition of “dominant position” to include significant market power.

He also said the substitute bill strengthens the powers and func-

tions of the PCC by requiring entities to modify or terminate contracts; opening access to competitors; prohibiting restrictive contracting practices; setting up of information firewalls and making information available to third parties.

Benitez said the measure allows the PCC to deputize a law enforcement agency to conduct investigation activities.

He added it also mandates the PCC to prepare and formulate, in coordination with National Economic and Development Authority, the National Competition Policy.

The bill allows the PCC to issue guidance to relevant agencies, provide advisory opinion to legislation, and recommend remedies to Congress on competition-related issues, he said.

According to the lawmaker, the

bill also authorizes the PCC to create an antitrust fund from all fees, fines and penalties collected.

Benitez said the measure also simplifies identification of anticompetitive behavior of economic entities, while articulating PCC’s authority to impose obligations upon entities with significant market power.

Benitez said one of the important provisions of the measure provides the procedure for a hybrid compulsory-voluntary notification regime for mergers and acquisitions with compulsory notification and review for transactions exceeding P50 billion.

But for his part, PCC Chairman Arsenio Balisacan asked the committee to maintain the current threshold provided under the country’s competition law or RA 10667 with provision of a regular

updating for inflation.

“We note that the mandatory merger notification threshold in the bill is set at P50 billion. We respectfully reiterate the commission’s position that the P50 billion is to high at threshold that many mergers and acquisition with potential anti-competitive effects in the marketplace would evade the scope of mandatory antitrust reviews,” he said.

“We also respectfully note that under Bayanihan 2, Congress’s wisdom was for temporary increase in the threshold correspond to the challenges brought about by the pandemic,” he said.

House economic affairs chairman Garin, however, rejected the PCC position, saying the TWG carefully studied the threshold figure through several hearings before recommending it to her committee.

Measure to raise Neda to a Cabinet-level dept up for plenary approval

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HE House Committee on Economic Affairs on Wednesday endorsed for plenary approval a measure abolishing the National Economic and Development Authority (Neda), and replaces the existing socioeconomic planning body with the proposed Department of Economics and Development Planning (DEDP).

This after the committee, chaired

by AAMBIS-OWA Rep. Sharon Garin, approved substitute bill to HB 79 of Albay Rep. Joey Salceda, HB 1310 of Deputy Speaker Weslie Gatchalian and HB 4693 of Tarlac Rep. Victor Yap. “Members of the committee recognized that we should further strengthen Neda and [it more] teeth.

The proposal will make Neda, not as a mere independent body, but also as a policy-maker that has more substantial influence in decision-making of the regional development council and all other agencies,” Garin said.

For his part, Salceda said the proposal seeks to institutionalize a new and truly independent department that will implement long term, continuing, integrated, and coordinated programs and policies for national development.

The bill failed to become a law during 17th Congress due to lack of time.

In his explanatory note, Salceda

said the bill would also enhance decentralization and strengthen the autonomy of units within the various regions of the country to accelerate their economic and social growth and development.

“Distressed communities will thus be empowered to revitalize, expand, and upgrade their physical infrastructures to attract new industries, encourage business expansion in the countryside, diversify local economics, and generate or retain long-term private sector jobs and investments,” he said.

The bill said DEDP shall be the country’s primary agency that shall direct the government’s planning and investment programming processes toward sustainable and inclusive economic growth; equitable distribution of opportunities, income, and wealth; and increased productivity.

As such, it shall formulate the country’s continuing, integrated, and coordinated policies, plans, and programs for development; foster a culture of planning across all government organizations; ensure the vertical and horizontal alignment and coherence of national and subnational policies, plans, programs, and projects; ensure alignment of appropriations for programs with national and subnational development plans toward optimal use of financial re-

sources; and oversee the country’s public investment program.

The bill also institutionalizes Neda as a lead integrator of economic development programs and policies to facilitate the planning, collaboration, and coordination among the relevant government agencies and improve access to national program information, data, and funding opportunities, support research of leading edge, world-class economic development practices and information dissemination efforts.

It also ensures that economic resources are aligned and invested in support of identified and well-defined timely strategies and projects in non-duplicative activities.

Under the measure, the agency shall generate and provide impartial, objective, and evidence-based analyses and recommendations for the socioeconomic betterment of the nation, particularly to the President, Congress, and Filipinos in general.

The Secretary of Economics and Development Planning, who shall serve as the country’s Chief Economist, shall head the DEDP. The Office of the Secretary of Economics and Development Planning shall consist of at least four undersecretaries and eight assistant secretaries.

The bill said agencies currently

attached to the Neda shall hereafter be attached to DEDP and shall continue to operate and function in accordance with their respective charters, laws, or orders creating them, except as otherwise provided in this proposal, the Administrative Code of 1987, and subsequent laws.

The following agencies shall be attached to DEDP: Philippine Institute for Development Studies; Philippine National Volunteer Service Coordinating Agency; Philippine Statistics Authority; Philippine Statistical Research and Training Institute; Commission on Population and Development; Public-Private Partnership Center of the Philippines and Tariff Commission.

Also, the bill said the DEDP shall serve as the principal secretariat of the Legislative-Executive Development Advisory Council.

The measure also mandates the DEDP to formulate the long-term development framework, which is a high-level and broad strategy spanning 25 years that shall guide the nation toward sustainable growth and development.

It also shall serve as a tool to coordinate, guide, and inform the preparation and consideration of future, more detailed national and subnational development plans, national and subnational public investment programs, and sectoral and inter-

sectoral plans and programs. It shall embody the development goals and milestones to serve as basis for the overall direction of government policies, programs, and projects across political administrations.

The bill added DEDP shall also formulate the National Framework for Physical Planning (NFPP), which shall provide policies and principles to achieve efficient settlement, production, service delivery systems, and sustainable use of land and other physical resources in the country.

The measure said the DEDP, in consultation with public agencies, civil society organizations, nongovernment organizations, people’s organizations, academe, private sector, and local government units, shall formulate within six months from the assumption of office of the President a national economic and development blueprint, known as the Philippine Development Plan.

The DEDP shall also direct and oversee the government’s investment programming process to ensure that the plans are translated into programs and projects by prescribing standards and guidelines, as well as compliance and accountability mechanisms, especially considering the results of relevant evaluation studies and conforming to the NFPP and Regional Spatial and Physical Framework. Jovee Marie N. Dela Cruz

saster risk management.

Meanwhile, Covid-19 vaccination sites in Bataan People’s Center and Vista Mall will remain in operation, Garcia said in a post on Facebook, CNN Philippines added.

The University of the PhilippinesManila also announced the cancelation of face-to-face and online classes, as well as on-site and remote work.

Miriam College in Quezon City also canceled on-site work and advised its employees to go home immediately to avoid being stranded due to flash floods.

The Senate allowed the early dismissal of officers and employees at 1 p.m. “due to the inclement weather and flooding in many areas in Metro Manila,” Secretary Myra Marie Villarica said in an advisory.

Chief Justice Alexander Gesmundo, suspended work in all offices under the judiciary branch in Metro Manila at 12 noon, CNN Philippines reported.

Monsoon rains enhanced by Typhoon Fabian and Tropical Storm Cempaka, which is outside the country’s monitoring area, are expected in the Ilocos Region, Cordillera Administrative Region, Batanes, Babuyan Islands, Zambales, Bataan, Tarlac, Pampanga, Bulacan, Metro Manila, Cavite, Batangas, Occidental Mindoro, and the northern portion of Palawan, including Calamian and Kalayaan Islands in the next 24 hours, CNN Philippines also reported.

‘Do not disembark:’ PCG restricts crew of two Covid-stricken vessels in Albay

By Rene Acosta @reneacostaBM

A

PHILIPPINE Coast Guard (PCG) team kept close on two Philippine-registered vessels with 11 Covid-positive crewmen on board in Albay in a bid to contain health risks and preclude the possibility of virus transmission to residents of nearby villages.

PCG spokesman Commodore Armand Balilo said the MT Clyde, a tugboat, and dumb barge, Claudia, remained berthed a kilometer away from the Lidong Port in Sto. Domingo. The PCG personnel on guard were issued specific instructions that no one among the crewmen would be allowed to disembark.

Department of Health (DOH) and Bureau of Quarantine personnel were scheduled to administer RT-PCR test to t he crewmen on Wednesday as the government continued its strict monitoring of their health condition while extending emergency assistance.

T he MT Clyde and Claudia sailed from Butuan City in Agusan del Norte, with the 11 of the 19 crewmen on board apparently unaware they have been tested positive for the virus. The results of their tests were released while they were already en route to Albay.

Another crew disembarked in Butuan City only to find out later he was also positive for the virus.

The two vessels made an earlier stop to a port in Indonesia, which has been grappling with a surge in Covid Delta variant cases docked Butuan City where it stopped for a day before leaving for Albay. On board the barge are 8,000 metric tons of steam coal.

Balilo said that the 19 crewmen are in state of good health, even as 11 of them have been tested to be Covid positive with asymptomatic symptoms.

“According to Captain Francisco Vargas, master of the MT Clyde, the body temperature of his companions remained normal and their bodies are strong,” he said.

A4 Thursday, July 22, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DTI eyes more test labs to ensure quality of construction materials

T

By Tyrone Jasper C. Piad

@TyronePiad

HE Department of Trade and Industry (DTI) seeks to establish more standard testing laboratories for construction materials this year after launching a facility for steel and ceramic tiles on Wednesday.

Trade Secretary Ramon M. Lopez, during the inauguration of DTI-Bureau of Philippine Standards’ (BPS) steel and ceramic tiles testing laboratory, said that ensuring highquality products would encourage more investments in manufacturing and infrastructure sectors.

Other construction products that the DTI aims to be covered by a testing facility include cement, hollow blocks and flat glass. Such initiative, Lopez said, will support the govern-

ment’s infrastructure program and promote economic developments in the countryside.

In establishing the laboratory located in Dasmariñas, Cavite, the DTI worked with the Philippine Iron and Steel Institute and Ceramic Manufacturers Association Inc. Lopez said the collaboration showed the importance of the public and private sectors joining hands to ensure standard compliance and consumer safety.

“With greater testing capabilities, we should be able to minimize substandard products in the market,” the DTI chief said. “This should likewise encourage more investments in more competitive and smart manufacturing operations using modern technologies that will guarantee high-quality products at all times.”

Lopez noted that the steel and ceramic tiles testing facilities will support the country’s recovery efforts. “For one, as our industries rev up once more to boost our economic recovery, these facilities will strengthen our steel and ceramic tiles industries and ensure that only quality and standard compliant construction steel products and ceramic tiles are made available in the local market,” he explained.

The DTI chief also said that the testing facilities can help the micro, small and medium enterprises (MSMEs) are competitive by ensuring product quality.

Conducting product testing based

on relevant Philippine National Standards can assist MSMEs in developing products whose quality is at par with global standards, he added.

“To conclude, what matters most in the end is to make our industries, including the MSMEs, much stronger and more competitive, one that can lead to a stronger brand equity for the Philippines, greater consumer and business confidence, that can attract more investments, jobs, and more production capacities,” Lopez said.

Earlier this year, the DTI issued supplemental guidelines for the certification of ceramic tiles and regulation of galvanized steel coils and sheets.

The memorandum circular for ceramic tiles covers the documentary and process requirements for the issuance of import commodity clearance certificate. These include submission of independent test reports issued by an accredited testing laboratory.

Gordon alerts public against PRC ‘scammers’

T

HE Philippine Red Cross (PRC) on Wednesday warned the public against fake booking sites and personnel asking people to send payments to their bank accounts.

PRC Chairman and CEO Sen. Richard Gordon reminded the public that they can only book and pay through the PRC’s official booking site: book.redcross.org.ph at dashlabs.ai.

“Do not be deceived by people who are asking to book any other methods than this. Marami na ang nahihirapan dahil sa pandemya, huwag niyong samantalahin ang sitwasyon upang makapang loko ng tao [Do not add to the burden of the people brought about by thus pandemic, don’t take advantage of them],” Gordon said.

Gordon said that the PRC has been receiving reports of people scamming the public and by intro-

ducing themselves as official PRC members and booking by sending payments into the bank accounts of these individuals.

He stressed that the PRC has no other booking sites nor any authorized sales representative.

The PRC said that the official RT-PCR Test booking platform for swab and saliva tests is https://book. redcross.org.ph and that the testing fee is P2,000 for RT-PCR and P3,800

for swab test.

The public is also encouraged to report to PRC hot line 1158 if they encounter any scamming incident.

The PRC assured that they already took necessary actions to track down the culprits.

PRC, the leading organization for the Covid-19 RT-PCR test, has already done3.5milliontestsnationwidewhich accounts for more than 25 percent of nationwide testing. Claudeth Mocon-Ciriaco

www.businessmirror.com.ph

Peso value ‘currency crash’ an error of platform’s source feed, BSP governor clarifies

B

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno clarified that the sudden “currency crash” in the Philippine peso value against the greenback in some trading platforms, which caused a stir on social media Tuesday, was just an error of the platform’s source feed.

Diok no told repor ters on Wednesday that the error was not made on the official source feeds of the country.

On Wednesday, some foreign exchange platforms showed a sudden slip in the Philippine peso value against the dollar, indicating exchange rate values of as low as P42 to a dollar. For reference, data from the Bankers Association of the Philippines (BAP) showed that the peso closed value at P50.35 to a dollar.

“We would like to highlight that the source feed is not Bloomberg nor the Bankers Association of the Philippines. The official sources are the Bloomberg and BAP only,” Diokno said.

“We believe that these applications that showed the drastic drop in the US dollar and Philippine peso rate had an error in its source feed. Yesterday, July 20,

was a Philippine holiday and domestic markets were shut. This means that there was no live official data source for the spot market,” he added.

Diokno said that the holiday last Tuesday may also have “exacerbated” the pricing feed error on these certain platforms.

“The rule that we have is that on holidays the prevailing official rate will be the rate of the previous business day. In addition, we had observed various foreign exchange platforms such as Bloomberg and Reuters [which is what the BSP uses for market data sources] and none showed this drastic move,” Diokno said.

“Moreover, we highly doubt that there were any material transactions dealt at those rates as these would definitely be ‘off market’ and would be subjected to internal reviews of these platforms,” he added.

The governor said while the error was not seen on official channels, they can still continue investigation on the matter.

“That someone would be willing to trade at these off market prices using these apps can warrant further investigation,” Diokno said. Bianca Cuaresma

BTr awards ₧35-billion T-bonds amid improving market demand

By Bianca Cuaresma @BcuaresmaBM

T

HE Bureau of the Treasury (BTr) fully awarded fresh 10-year Trea-

sury bonds (T-bonds) worth P35 billion in its auction on Thursday, indicating continued demand from the market.

The tenor attracted total tenders of P72.96 billion, more than double oversubscribed compared to the P35 billion offering.

The 10-year T-bonds a lso fetched a coupon rate of 4 percent. Their maturity date is July 22, 2031.

National Treasurer Rosalia de Leon told reporters that the tenor had “good participation” and the fetched rates were a lig ned w ith secondary levels in the market.

Earlier this month, the BTr also auctioned off the new 20year Treasury bond , wh ic h fetched a coupon rate of 5.125 percent. This was, however, just partially awarded at P16.8 billion. The total offer was also at P3 billion.

For July, the Treasur y has set to borrow P235 bi l l ion from the local debt market, up from the P215 bi l lion prog r a m me d i n t he prev ious month.

The national government is set to borrow a total of P3.1 trillion, of which around 75 percent is expected to be raised through domestic sources.

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

The World

Japanese ambassador says Tokyo ‘struggles every day’ with China

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A NBERR A , Australia— Japan’s relationship with China was no better than notoriously strained Sino-Australian relations, the Japanese ambassador to Australia said on Wednesday.

Japan’s ties with China are often held up as an example to Australia of how productive relations can be maintained with Beijing despite national differences. But Ambassador Shingo Yamagami said he had encountered a common misperception in Australia about the state of Japan’s relations with China since he took up his post in December last year.

“The nutshell of that argument is Japan is doing far better than Australia when it comes to dealing with Japan’s neighbor, China,” Yamagami told the National Press Club of Australia.

“My simple answer is: no way.

I’m afraid I don’t subscribe to such an argument. Why? Because each and every day Japan is struggling,” Yamagami added.

Japan, Australia and other countries needed to join forces to address challenges caused by China’s rise, he said.

“Don’t worry. You are doing an excellent job. We are in the same boat and we should work together,” Yamagami said.

China has become increasingly hostile toward Australia since early last year, when the Australian government called for an independent investigation into the origins

of the Covid-19 pandemic.

Relations between China and Australia have soured in recent years, with Australia blocking Chinese technology and investment in key infrastructure, and China using tariffs and other measures to reduce its imports from Australia.

Former Australian Prime Minister Kevin Rudd, president of the Asia Society, a New York-based think tank, a scholar of Chinese history and a former Australian diplomat to Beijing, is among the Australian foreign policy critics who applaud the Japanese example for dealing with China.

Rudd has urged both Beijing and Canberra to “put the megaphone away” in their bilateral dealings.

Japan, which like Australia is a close US ally, had managed its relationship with China without retaliatory trade sanctions in recent years through deeds instead of words, Rudd said.

P resident Joe Bide n’s ad ministration and Japan have recently said they w ill stand

by Australia against what they describe as China’s campaign of economic coercion through informal trade sanctions.

Japanese Prime Minister Yoshihide Suga argues that trade should never to used as a tool to apply political pressure, Yamagami said.

“I applaud the way Australia has faced up to tremendous pressures in a consistent, principled and resilient manner,” he said. AP

Myanmar’s junta again seeks to replace its UN ambassador

U

NITED NATIONS — Myanmar’s military rulers are again seeking to replace the country’s ambassador to the United Nations, who opposed their Feb. 1 ouster of civilian leader Aung San Suu Kyi and takeover of the government.

Fo r e i g n M i n i s t e r W u n n a Maung Lwin says in a letter to UN Secretary-General Antonio Guterres that he has appointed Aung Thurein, who left the military this year after 26 years, as Myanmar’s UN ambassador. A copy of the letter was obtained Tuesday by The Associated Press.

Lwin said in an accompanying letter that Kyaw Moe Tun, Myanmar’s currently recognized UN ambassador, “has been terminated on February 27, 2021, due to abuses of his assigned duty and mandate.”

In a dramatic speech to a General Assembly meeting on Myanmar on February 26—weeks after the military takeover—Tun appealed for “the strongest possible action from the international community” to restore democracy to the country. He also urged all countries to strongly condemn the coup, refuse to recognize the military regime, and ask the military leaders to respect the November 2020 elections won

by Suu Kyi’s National League for Democracy party.

“We will continue to fight for a government which is of the people, by the people, for the people,” Tun said in a speech that drew loud applause from diplomats in the assembly chamber who called it “powerful,” “ brave” and “courageous.”

The militar y’s previous attempt to oust Tun failed and there has been no reported action on the foreign minister’s letter, which is dated May 12.

The 193-member General Assembly is in charge of accrediting diplomats. A request for accreditation must first go to its ninemember credentials committee, which this year comprises Cameroon, China, Iceland, Papua New Guinea, Russia, Trinidad and Tobago, Tanzania, United States and Uruguay.

UN deputy spokesman Farhan Haq said that as far as he understands no meeting of the credentials committee has been scheduled.

In June, the UN said the secretar y-general indicated that the resu lts of the November election that gave a strong second mandate to Suu Kyi ’s party must be upheld.

T he L ondon - b a s e d My a n mar Accountability Project condemned the military’s attempts to replace Tun as well as Myanmar’s ambassador to the United Kingdom, Kyaw Zwar Minn, who also remains loyal to Suu Kyi. The Guardian newspaper reported in April that Minn remains in limbo after being locked out of the London embassy by his deputy and the country’s military attache.

The Guardian quoted Minn as saying his friends and relatives in Myanmar had been forced into hiding and he did not feel safe in the ambassador’s residence, which he still occupied at the time.

The Myanmar Accountability Project’s director, Chris Gunness, said the military is seeking to replace Minn with former fighter pilot Htun Aung Kyaw.

Both Thurein and Kyaw have strong mi l itar y bac kg rounds that “make ugly reading,” Gunness said, adding that Thurein’s remaining in the militar y until 2021 strongly suggests he ser ved during the Februar y 1 military takeover and the crackdown after ward.

He called it “an affront to the world body” that the military is seeking to send to the UN “a man with such strong connections to an institution with blood on its hands and which stood accused of genocide in The Hague even before the coup.”

A U N - est abl i shed i nvest igation has recommended the prosecution of Myanmar’s top military commanders on charges of genocide, war crimes and cr imes against humanit y for the 2017 military crackdown on Rohing ya Muslims that forced 700,000 to f lee to neighboring Bangladesh. AP

BusinessMirror

Thursday, July 22, 2021

A5

Countries report record cases as Delta variant engulfs Asia

C

ovid-19 continued its rampage through Asia as more countries report infections brought about by the Delta variant. South Korea and Thailand reported record infections, and Australian lockdowns are failing to rein in growing outbreaks.

T h a i l a nd re por ted 13,0 02 new cases on Wednesday, the h i g he s t s i n g l e - d ay i nc re a s e since the pandemic began.

The new infections take the nation’s cumulative cases to 439,477, according to the Center for Covid-19 Situation Administration.

The country reported 108 fatalities and 8,248 recoveries.

South Korea reported a record 1,784 new cases in the past 24 hours, up from 1,278 the previous day, according to the Korea Disease Control and Prevention Agency’s web site.

There were 1,726 local infections, with 599 new cases in Seoul and 450 in Gyeonggi province.

About 32 percent of the population, or 16.4 million people, have received at least one vaccine dose, while 13 percent are completely vaccinated.

Japan’s top Covid-19 adviser, Shigeru Omi, said in a TV program on Tuesday that Tokyo’s daily coronavirus cases could hit a new record in the first week of August, potentially reaching a figure close to 3,000. This would overlap with the Tokyo Olympics, which run through August 8.

WHO chief Tedros Adhanom Ghebreyesus is set to visit Tokyo to discuss Covid measures for the games with Prime Minister Yoshihide Suga, according to Kyodo. The meeting is scheduled to take place between Thursday and Saturday.

Meanwhile, new cases contin-

ued to climb in Australia’s two largest cities on Wednesday as strict stay-at-home orders impacting half the nation failed to halt the spread of the Delta variant.

New South Wales state, home to Sydney, reported 110 new locally transmitted Covid-19 cases. The source of 56 infections is currently unknown. Victoria state, which is home to Melbourne, recorded 22 new local cases.

Key developments:

WHO’s vaccination goal

World Health Organization Director-General Tedros Adhanom Ghebreyesus said a global failure to share vaccines, tests and treatments is fueling a two-track pandemic. “The haves are opening up, while the have-nots are locking down,” he said in a speech at the International Olympic Committee Session.

Governments worldwide can end the pandemic if they vaccinate 70 percent of every country’s population by mid-2022, he said.

Delta now accounts for 83 percent of US cases

The Delta variant now makes up 83 percent of all sequenced Covid-19 cases in the US, Centers for Disease Control and Prevention Director Rochelle Walensky said in a Senate hearing. The new figure is up from 50 percent from the week of July 3. She said areas of the

country with limited vaccination coverage are allowing spread of the highly transmissible variant.

“The majority of these deaths ca n be prevented w it h a simple, sa fe, ava i l able vacc ine,” Wa lensk y sa id.

Chinese city imposes mandatory tests

Nanjing, the capital of eastern Jiangsu province, now requires Covid tests for people leaving the city after Nanjing airport found nine positive samples from workers on Tuesday. The airport has canceled flights, put relevant staff under centralized quarantine and started contact tracing.

London workers want money to return to office

London office workers want an average pay rise of 5,100 pounds ($6,950), equivalent to the cost of some annual railway season tickets, to return to their desks full-time after the pandemic, according to a sur vey.

With Cov id-19 restrictions leaving many offices empty, whitecollar staffs have spent 16 months mostly working from home. Just 17 percent now say they actively want a full-time return to the office, research for workplace analytics firm Locatee shows.

One dose of J&J less effective against Delta

A study found Johnson & Johnson’s Covid-19 vaccine is much less effective against the Delta and Lambda variants than against the original virus, the New York Times reported. The lab-based findings, which haven’t been peer reviewed or published in a scientific journal, suggest the need for a second dose for the 13 million people who have received the inoculation. The authors of the study recommended an mRNA vaccine made by Pfizer Inc.-Biontech SE or Moderna Inc. as the second shot.

T he results contrast those from smaller studies published

by J&J earlier this month that suggested a single dose of its vaccine is effective against Delta even eight months after inoculation, the Times said. Seema Kumar, a J&J spokeswoman, told the newspaper that the new data “do not speak to the full nature of immune protection.”

The new study is credible because the authors don’t have ties to any vaccine makers, John Moore, a virologist at Weill Cornell Medicine in New York, told the Times.

Pelosi staffer, White House aide test positive

A senior s pokes person for House Speaker Nancy Pelosi and a White House official have tested positive for Covid-19. Both had been fully vaccinated and are among several staffers in Congress and at the White House who’ve been recently infected.

The Pelosi staff member had no contact w ith the Spea ker since being ex posed, Drew Hammill, a Pelosi spokesperson, said in a statement. W hite House press secretary Jen Psaki said that contract tracing had determined that the infected staff there had no close contact with senior people or President Joe Biden.

NYC daily vaccination rate drops to 15,000

New York City’s vaccine administration rate has plunged to less than 15,000 a day, from more than 100,000 a day in mid-April, as cases increase.

The city has fully vaccinated 4.5 million residents, data show, falling short of Mayor Bill de Blasio’s goal of 5 million by June. The city reported a sevenday average of 576 confirmed and probable cases on July 18, more than double the average on July 6. Bloomberg News

Climate envoy says US, China must end world’s ‘suicide pact’

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ONDON—US climate envoy John Kerry called on China to join America in urgently cutting greenhouse gas emissions and described the international alliances that rebuilt Europe after World War II as a model for fighting against climate change.

Kerry challenged global leaders to accelerate the actions needed to curb rising temperatures and pull the world back from the edge of the abyss. “Allies, partners, competitors and even adversaries” must work together, he said during a speech at London’s Kew Gardens, a UNESCO World Heritage site where scientists are working to protect plants from global warming.

“The climate crisis is the test of our own times, and while it may be unfolding in slow motion, to some, this test is as acute and as existential as any previous one,” Kerry said. “Time is running out.”

Kerry described the next decade as decisive, saying countries around the world must speed up efforts to reduce greenhouse gas emissions if they are to meet their commitment to limit temperature increases to no more than 1.5 degrees Celsius over pre-industrial levels.

While many countries have pledged to eliminate net carbon emissions by 2050, the Intergovernmental Panel on Climate Change says emissions must be cut

US Special Presidential Envoy for Climate John Kerry delivers a policy speech in the Nash Conservatory at the Royal Botanic Gardens, Kew, in west London on a hot sunny day, on July 20. The 19th century glasshouse was originally built in the grounds of Buckingham Palace and moved brick-by-brick to Kew in 1836. Temperatures in London hit 86 degrees Fahrenheit (30 Celsius) on Tuesday. AP/Matt Dunham

by at least 40 percent by the end of the decade to keep temperatures in check.

Organizers of the next United Nations climate summit are calling the November event in Glasgow, Scotland “the world’s last best chance to get runaway climate change under control.” The primary goal of the meeting, known as COP26, is for countries to set “ambitious” targets for reducing greenhouse gas emissions by 2030.

To meet these targets, countries need to phase out the use of coal, reduce deforestation, accelerate the shift to electric vehicles and encourage investment in renewable energy, according to the conference organizers.

China, the United States and India are the world’s biggest emitters of greenhouse gases, meaning efforts to control climate change are likely to fail unless all three lead the way in slashing emissions.

Kerry referred to the often

tense relationship between the US and China but said the future depended on their cooperation.

Both countries also need to raise their ambitions, he said.

“It is not a mystery that China and the US have many differences. But on climate, cooperation is the only way to break free from the world’s current mutual suicide pact,’’ he said. “President Biden and President Xi have both stated unequivocally that each will cooperate on climate despite other consequential differences.

America needs China to succeed in slashing emissions. China needs America to do the same.’’

China’s output of climatewrecking pollution surged in the last decade as its economy boomed, especially as it kept operating, building and financing new, dirtyburning coal-fired power plants.

The Rhodium Group analysis firm reported in May that China as of 2019 was pumping

out more than 27 percent of all c l i m ate - d a m ag i ng em i ssions globally. That’s more than the United States, which stood at 11 percent, and more than the rest of the developed world combined, Rhodium said.

The Trump administration and others in the United States pointed to China’s lead role in climate damage in justifying the rolling back of many emissions-cutting efforts in the US. China and other developing economies, meanwhile, say Western nations most responsible for the global-warming that occurred in the past are asking them to rein in their own development with little or no compensation.

Antony Froggatt, an energy policy consultant at the Chatham House think tank in London, applauded Kerry’s speech for highlighting the urgent need for action—for all.

“There is an acceptance from… one of the highest climate change officials in the world that climate change is here, it’s real, it’s having an impact, and its future impact will be equivalent to sort of a global war…and therefore we need to do things now,” Froggatt said. “That isn’t just America, that isn’t just the EU. It is India. It is China. It is these major emitters that actually need to take action on the real short term and demonstrate that they are changing emissions levels.” AP

BusinessMirror

A6 Thursday, July 22, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

WANG, YUJIA Mandarin Customer Service Representative

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4 Near Kay Buboy Bridge San Dionisio Parañaque City

ANITA KARTIKA Project Coordinator 1.

Brief Job Description: Plan, organize, and direct the activities of construction project, under the direction of a general manager.

HONG, RU-PING Project Coordinator 2.

Brief Job Description: Plan, organize, and direct the activities of a construction project under the direction of a general manager.

SHEN, WEI Project Coordinator 3.

4.

Brief Job Description: Plan, organize, and direct the activities of a construction project under the direction of a general manager.

LI, JIAHUI Customer Service Representative (Chinese Accounts) Brief Job Description: Assists clients will all their concerns.

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook, Knowledge of file management, transcription, and other administrative procedures, or a related field; Good communication and interpersonal skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel and Outlook; Knowledge of file management, transcription, and other administrative procedures, or related field; Good communication and interpersonal skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel and Outlook; Knowledge of file management, transcription, and other administrative procedures, or related field; Good communication and interpersonal skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: *Any nationality who can speak and write Chinese fluently. *Preferably 6 months to 1 year customer service experience. *Detailoriented and has the ability to multi-task.

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

18.

19.

20.

21.

22.

23.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status FENG, AHUI Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status HUA, XIAN Mandarin Customer Service Representative Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status JIANG, WENJUN Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status LIU, QINGWEI Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status LUO, XIAOHUI Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquires and order status MENG, LINGXUAN Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status PENG, WEIQI Mandarin Customer Service Representative Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status RAN, SIGUI Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status REN, CHENGNUO Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status SU, SONGMING Mandarin Customer Service Representative Brief Job Description: Interact with Customer to provide information , Support and Problem resolution to inquiries and order status TAN, PENGCHENG Mandarin Customer Service Representative

16.

Brief Job Description: nteract with Customer to provide information , Support and Problem resolution to inquiries and order status WANG, TING Mandarin Customer Service Representative

17.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status XIAO, ZONGRONG Mandarin Customer Service Representative Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status XING, YUHAO Mandarin Customer Service Representative Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status YANG, LIQIN Mandarin Customer Service Representative Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status YU, YUANDA Mandarin Customer Service Representative

MAC SIU LINH Mandarin Speaking Budget Control Specialist 25.

Brief Job Description: Monitors budget transfer activity through the year to ensure that proper documentation is supplied and that transactions are properly authorized.

MACH MY NHIEN Mandarin Speaking Online Payment Specialist 26.

Brief Job Description: Assist internal and external customers with questions related to payments

SAM HA MUI Mandarin Speaking Online Payment Specialist 27.

Brief Job Description: Assist internal and external customers with questions related to payments

VOONG MY LINH Mandarin Speaking Operations Specialist 28.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status XIAO, FUHUA Mandarin Customer Service Representative

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status ACSTREAM MANAGEMENT INC. 2204b/2206, 22/f Pbcom Tower Ayala Avenue Bel-air Makati City

Basic Qualification: Fluent in Mandarin Both Oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both Oral and Written

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and other status WU, GENCAN Mandarin Customer Service Representative

24.

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City FAN, YIJIE Mandarin Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Develop and maintain standard operating procedures for all business functions

LIEU DUONG LINH Mandarin Speaking Budget Control Specialist 29.

Brief Job Description: Monitors budget transfer activity through the year to ensure that proper documentation is supplied and that transactions are properly authorized.

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

LIU, JING Mandarin Customer Relations Officer 36.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

37.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Good oral and written communication skills in mandarin, At least 6 months of related experience in this field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Good oral and written communication skills in mandarin, At least 6 months of related experience in this field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications , at least 5 months work related experience, Good oral and written communication skills in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Good oral and written communication skills in Mandarin, At least 6 months of related experience in this field

38.

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

QIU, DONGER Mandarin Customer Relations Officer

39.

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

SHU, YAO Mandarin Customer Relations Officer

40.

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

WANG, YUE Mandarin Customer Relations Officer

41.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services WEI, ZHENTAO Mandarin Customer Relations Officer

42.

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

YANG, FU Mandarin Customer Relations Officer

43.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services ZHU, GUODONG Mandarin Customer Relations Officer

44.

Brief Job Description: Handles the concerns of the people who buy their company’s products or services DUAN, XING Mandarin Customer Service

45.

Brief Job Description: Offer full range of customer service to employer and clients.

HOU, YIWEN Mandarin Customer Service

46.

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

BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City Basic Qualification: SOON WAI THENG At least college level and Malaysian Customer Service able to speak, read write and type fluently in MALAY 30.

Brief Job Description: language.

Offer full range of customer service to employer and clients.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEN, GUISHAN Has excellent problemMandarin Customer Relations Officer solving and communication skills in Mandarin, with 31.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CHEN, CHEN Has excellent problemMandarin Customer Relations Officer solving and communication skills in Mandarin, with 32.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: JIN, MENGYAO Has excellent problemMandarin Customer Relations Officer solving and communication skills in Mandarin, with 33.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LI, QIANG Has excellent problemMandarin Customer Relations Officer solving and communication skills in Mandarin, with 34.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LIANG, YINGFA Has excellent problemMandarin Customer Relations Officer solving and communication skills in MANDARIN, with 35.

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

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

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

MO, RENFAN Mandarin Customer Relations Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Good oral and written communication skills in Mandarin, At least 6 months of related experience in this field

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

LUO, BIN Mandarin Customer Relations Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Offer full range of customer service to employer and clients.

ZHANG, XIAOXI Mandarin Customer Service

47.

Brief Job Description: Offer full range of customer service to employer and clients.

TRUONG VAN HIEU Vietnamese Customer Service

48.

Brief Job Description: Offer full range of customer service to employer and clients.

QUALIFICATION AND SALARY RANGE Basic Qualification: Has excellent problemsolving and communication skills in MANDARIN, with related BPO experience 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 Basic Qualification: Has excellent problemsolving and communication skills in Mandarin, with related BPO experience 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 Basic Qualification: Has excellent problemsolving and communication skills in Mandarin, with related BPO experience 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 Basic Qualification: Has excellent problemsolving and communication skills in Mandarin, with related BPO experience 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 Basic Qualification: Has excellent problemsolving and communication skills in Mandarin, with related BPO experience Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read write and type fluently in MANDARIN language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read write and type fluently in MANDARIN language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read, write and type fluently in Mandarin language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college level and able to speak, read write and type fluently in Vietnamese language.

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

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City One Townsquare Place Bpo Bldg. Alabang Zapote Rd. Almanza Uno Las Piñas City

49.

50.

51.

NIU, XIAOLIN Customer Service Representative Brief Job Description: Customer service representative

HAN, XUE Customer Service Representative Brief Job Description: Customer service representative

HUANG, JINZHANG Customer Service Representative Brief Job Description: Customer service representative

Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

52.

53.

54.

55.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, LIANGYUAN Customer Service Representative Brief Job Description: Customer service representative

LIN, GUOQIANG Customer Service Representative Brief Job Description: Customer service representative

TANG, QIONGGUO Customer Service Representative Brief Job Description: Customer service representative

TEE YEE WEN Customer Service Representative Brief Job Description: Customer service representative

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

65.

66.

67.

68.

69.

Brief Job Description: Customer Service LI, JIAJUN Customer Service Representative Brief Job Description: Customer Service SWE SWE WIN Customer Service Representative Brief Job Description: Customer Service WANG, TONGJIAN Customer Service Representative Brief Job Description: Customer service YAN YONE SWAN Customer Service Representative Brief Job Description: Customer Service

FUJIAN ELECTRIC POWER ENGINEERING COMPANY 5 West Lawin Phil-am 1 Quezon City

70.

Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YAO, JINHAN Chinese Supervisor Brief Job Description: Giving instructions or orders to subordinate employees

GLADIOLOUS INC. Unit 25d 2/f Zeta Ii Bldg. Salcedo St. San Lorenzo Makati City 3/f, Globe Telecom Plaza 2 Pioneer Cor. Madison Mandaluyong City JIANG, JIN Chinese Speaking Business Development Associate 71.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

TIAN, JUNTAO Chinese Speaking Business Development Associate 72.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

ZENG, YAYAN Chinese Speaking Business Development Associate 73.

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

BLOOMBERRY RESORTS AND HOTELS INC. Solaire Resort And Casino 1 Asean Avenue, Entertainment City Tambo Parañaque City O’BRIEN, BRICE CAREY Basic Qualification: Director, Surveillance must be a bachelor’s degree holder or have equivalent Brief Job Description: 56. experience Communicate effectively with case management staff, investigative field staff, company leaders and Salary Range: clients regarding the progress of assigned cases and Php 90,000 - Php 149,999 recommendations for further imitative DA PROSPERITAS HOLDING INC. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City Basic Qualification: Proficiency in handling LI, XINGYU customer questions about Chinese Speaking Customer Service Representative services or products 57. / Excellent mandarin Brief Job Description: communications skills Assist/ Help customers, Give customers information about products and services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling PENG, YUYAN customer questions about Chinese Speaking Customer Service Representative services or products 58. / Excellent mandarin Brief Job Description: communications skills Assist/ Help customers, Give customers information about products and services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling SU, FENG-SHENG customers questions about Chinese Speaking Customer Service Representative services or products/ Excellent Mandarin 59.

Brief Job Description: communication skills Assist/Help customers, give customers information about products or servicer Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling ZHONG, BINQUAN customer question about Chinese Speaking Customer Service Representative services or products/ 60.

Excellent mandarin Brief Job Description: Communications skills Assist/Help customers, Give customers information about products and service Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling HOANG PHUONG THUY questions about services Chinese Speaking Data Entry Clerk or products/ Excellent 61. mandarin communication Brief Job Description: skills Enters Customer and Account date and keeping and maintaining information confidential Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling NGUYEN THU TRANG questions about services Chinese Speaking Data Entry Clerk or products/ Excellent 62. mandarin communication Brief Job Description: skills Enters Customer and Account date and keeping and maintaining information confidential Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling XIE, YINGKAI questions about services Chinese Speaking Data Entry Clerk or products/ Excellent mandarin communication 63.

Brief Job Description: skills Enters Customer and Account date and keeping and maintaining information confidential Salary Range: Php 30,000 - Php 59,999 ERAWAN PHILIPPINES (ERMITA), INC. (HOP INN) 1850 M H Del Pilar St. 076 Bgy. 699 Malate Manila Basic Qualification: Bachelor’s degree holder; MOKRONOSOV, KIRILL 10 years solid work Group General Manager experience as Director 64.

General Manager/AVP/VP Brief Job Description: Specializing in operations.

Actively oversee the implementation of customer experience improvement initiatives across the brands.

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

HUANG, ZONGHE Customer Service Representative

No.

Brief Job Description: Developing, implementing sales strategies, client service, and plan and analyzing sales data.

ZHONG, BIAO Chinese Speaking Business Development Associate 74.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

LI, NAN Chinese Speaking Customer Service Representative 75.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

NGUYEN BINH Chinese Speaking Customer Service Representative 76.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

YAM CHAK WAH Chinese Speaking Customer Service Representative 77.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

MO, WENDING Chinese Speaking Data Entry Clerk 78.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

QIN, LING Chinese Speaking Data Entry Clerk 79.

Brief Job Description: Developing, implementing sales strategies, client service, plan, and analyzing sales data.

LE BLEIS, ANTHONY Associate, Venture Strategist

80.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Ability to work as part of a team Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products; Excellent Mandarin communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Master Degree

Brief Job Description: Provide market and trend analysis to validate Salary Range: management hypothesis and determine growth areas, Php 150,000 - Php 499,999 among others INFORM SOFTWARE PTY. LTD. Unit 1601, 1801-06 Orient Square Bldg. F. Ortigas Jr. Road, Ortigas Center San Antonio Pasig City Basic Qualification: RICHARD KASENDA good understand of market Marketing Executive research technique data analysis 81.

Brief Job Description: Conducting market research and analysis to value Salary Range: trends Php 30,000 - Php 59,999 Basic Qualification: TRAN DANG THUONG persistent time Telemarketer management can handle rejection and have products 82.

Brief Job Description: procedure Co-operate and assist management and other employees when required Salary Range: Php 60,000 - Php 89,999 INSPIRING PG INC. 3f Filhome Builders Center #68 Dona Soledad Avenue Better Living Subdivision Don Bosco Parañaque City ZHU, TAO Basic Qualification: President And Ceo Proven experience as a President and CEO or other Brief Job Description: 83.

Managerial position.

The President and CEO will be strategist and a leader able to steer the company to the most profitable Salary Range: direction while also implementing its vision, mission Php 30,000 - Php 59,999 and long term goal.

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City Basic Qualification: MIDI Able to speak and write Indonesian Customer Support Representative in Indonesian and at least college level with related 84.

Brief Job Description: BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: XIE, YANGHU Able to speak and write in Mandarin Customer Support Representative MANDARIN/FUKIEN and at least college level with 85.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 KEY DISCOVERY CONSULTING INC. Unit 3007-3008 One Corporate Centre Bldg. J. Vargas Cor. Meralco Ave. San Antonio Pasig City

DIJKMANS, MICHAEL Account Manager/internet Marketing Specialist (Dutch) 86.

Brief Job Description: Manage & provide Dutch and English marketing content on several Dutch & English online shopping sites.

Basic Qualification: Must have native-level understanding and command of Dutch language, both written and verbal. Must have experience in using project management tools, and other productivity software.

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

Salary Range: Php 30,000 - Php 59,999 KING-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505-f The Finance Centre 26th St. Fort Bonifacio Taguig City

Thursday, July 22, 2021 A7

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION FENG, YU Mandarin Speaking Marketing Specialist

87.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business LI, HUAYONG Mandarin Speaking Marketing Specialist

88.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business XU, HAIYUAN Mandarin Speaking Marketing Specialist

89.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business ZHANG, ZHANHUI Mandarin Speaking Marketing Specialist

90.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business ZHENG, YU Mandarin Speaking Marketing Specialist

91.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business

QUALIFICATION AND SALARY RANGE Basic Qualification: Proficient in speaking, reading, and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading, and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading, and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading, and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading, and writing in Mandarin Salary Range: Php 30,000 - Php 59,999

KMC MAG SOLUTIONS, INC. 20/f, Picadilly Star Building 4th Avenue Corner 27th Street Fort Bonifacio Taguig City Basic Qualification: Master’s in Business, Marketing, or related field; BANSAL, ARIKA 5 years’ experience in Sales, Business Development Manager Marketing or Finance; High level communication Brief Job Description: skills and be fluent in Plan, develop and oversee the overall business English; Able to manage development strategy; Organize business development complex projects and 92. meetings with prospective clients and existing clients implementation of business via phone call, zoom, Skype, and other communication development strategy; tools; Attend various educational programs and Excellent organizational conferences; Identify trendsetter ideas by researching skills and ability to resolve industry and related events, publications, and conflict announcements

ERIKSEN, EMIL Operations Manager

93.

Brief Job Description: The role of Operations Manager is to implement the right process and practices across the account (Helpful). The specific duties of an Operations Manager include formulating strategies and improvement of the organization, these includes cost management, operational policies, and team mentoring to increase quality of work and set performance standards.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: • Graduate/Undergraduate of Management or any related course • Minimum of 3 years’ experience in Supervisory role, particularly in BPO Operations. • Excellent English (verbal and written) communication skills.

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

KOREA TRADE CENTER MANILA Unit 1, 14f Ore Center Building 31st St. Corner 9th Ave. Bgc Taguig City KIM, JINHYEONG Basic Qualification: Assistant Counselor College Graduate 94.

Brief Job Description: Salary Range: FTA Support Center Operation, Related Research Php 90,000 - Php 149,999 MARKETCLUB INC. 41/f Gt Tower International Ayala Ave. Cor. H.v. Dela Costa St. Bel-air Makati City Basic Qualification: Proficiency in handling DU, DAN customer question about Chinese Speaking Admin Associate services or products excellent mandarin 95.

Brief Job Description: communication skills Prepare and maintain company documents and reports and coordinate for daily administrative reports Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling HSU, HUAI-YUAN computer questions about Chinese Speaking Admin Associate services or products 96. / Excellent Mandarin Brief Job Description: communication skills.

Prepare and maintain company documents and reports and coordinate for daily administrative reports.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling LIN, LING customer questions Chinese Speaking Business Analyst about service or products 97. / Excellent Mandarin Brief Job Description: communication skills.

Planning, Maintaining and Coordinate the development of primary and secondary market research Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling SHEN, YI customer question about Chinese Speaking Business Analyst services or products 98. excellent mandarin Brief Job Description: communication skills Planning, maintaining and coordinate the development of primary and secondary market research Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling LIU, FENGQI customer question about Chinese Speaking Business Development Associate services or products 99. excellent mandarin Brief Job Description: communication skills Developing, implementing sales strategies, client service, plan and analyzing sales data Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling QIN, ZANYUAN customer questions Chinese Speaking Business Development Associate about service or products 100. / Excellent Mandarin Brief Job Description: communication skills.

Developing, implementing sales strategies, client service, plan and analyzing data.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling HUO, XIAOJIE customer question about Chinese Speaking Customer Service Representative services or products 101. excellent mandarin Brief Job Description: communication skills Assist/help customers, give customer information about products and services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling JIANG, SHULONG customer questions Chinese Speaking Customer Service Representative about service or products 102. / Excellent Mandarin Brief Job Description: communication skills.

Assist/Help customers, Give customers information about products and services.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling CHEN, FULING customer question about Chinese Speaking Data Entry Clerk services or products 103. excellent mandarin Brief Job Description: communication skills Enters customer and account data and keeping and maintaining information and confidential Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling HSU, LI-WEN customer questions Chinese Speaking Data Entry Clerk about service or products 104. / Excellent Mandarin Brief Job Description: communication skills.

Enters customer and account data and keeping and maintaining information confidential.

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

BusinessMirror

A8 Thursday, July 22, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, HONGJUN Chinese Speaking Data Entry Clerk

105.

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

LIU, ZIYAN Chinese Speaking Data Entry Clerk 106.

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

YU, SUWEN Chinese Speaking Data Entry Clerk 107.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proficiency in handling customer question about services or products excellent mandarin communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer question about services or products excellent mandarin communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer question about services or products excellent mandarin communication skills Salary Range: Php 30,000 - Php 59,999

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City Basic Qualification: HAN (SPOUSE OF JANG), MIRAN Proficient in speaking, Korean Customer Service Representative reading and writing in 108.

Korean Brief Job Description: Responsible for handling service support calls Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LEE, JUNCHUL Proficient in speaking, Korean Customer Service Representative reading and writing in 109.

Korean Brief Job Description: Responsible for handling service support calls Salary Range: Php 30,000 - Php 59,999 Basic Qualification: DENG, XINGYU Proficient in speaking, Mandarin Speaking Customer Relations Service reading and writing in Provider Mandarin 110.

Brief Job Description: Responsible for handling service support calls

111.

HUANG, XUEWEN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

112.

LI, XIAOLI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

113.

LI, QINYI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

114.

OU, YUHANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

115.

SUN, SHUAISHUAI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

116.

WANG, HAILIN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

117.

WANG, HAILING Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

118.

XU, GANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

119.

YAO, FULIAN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

120.

YIN, YUCHEN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

121.

YUE, ZENGHUI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

122.

ZOU, QILONG Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999

No.

CHEN, JIAN Mandarin Technical Support 126.

XU, TIANTIAN Chinese Speaking Customer Relations Officer 123.

Brief Job Description: To handle the concerns of a customers and ensure good customer retention by providing excellent and professional services.

MIGHTY-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505- E The Finance Centre 26th St. Fort Bonifacio Taguig City ZHAO, MENGSHA Mandarin Speaking Marketing Specialist 124.

Brief Job Description: Conducting Research and Marketing Strategies to develop Areas of the business ZHOU, JINCHENG Mandarin Speaking Marketing Specialist

125.

Brief Job Description: Conducting Research and Marketing Strategies to develop Areas of the business

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

127.

Brief Job Description: Troubleshoot, maintain and monitor the computer system

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City

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Basic Qualification: Proficient in Speaking , Reading and Writing Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking , Reading and Writing Mandarin

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

149.

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City

Brief Job Description: Troubleshoot, maintain and monitor the computer system LIU, JIANG Mandarin Technical Support

MF CONSULTANCY MANAGEMENT SERVICES INC. Unit 1001 10/f Antel 2000 Corporate Centre 121 Valero St. Bel-air Makati City Basic Qualification: With good oral and written communication skills and proficient in Customer Relations.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHAN WOOH LUNG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries CHEE WEE LUNG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries CUI, TENGFEI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries QIN, XINLIAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries YUAN, ZHIXING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries XIE, SUTING Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries XIONG, LIN Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries CHEN, JIA Customer Service Representative Brief Job Description: Customer service CHEN, TINGQING Customer Service Representative Brief Job Description: Customer service CHEN, YALING Customer Service Representative Brief Job Description: Customer service CHENG, SIYUAN Customer Service Representative Brief Job Description: Customer Service DING, YANG Customer Service Representative Brief Job Description: Customer service DU, WEIJIANG Customer Service Representative Brief Job Description: Customer Service FENG, KUN Customer Service Representative Brief Job Description: Customer service GAN, XIULI Customer Service Representative Brief Job Description: Customer service GUO, ZHENNI Customer Service Representative Brief Job Description: Customer Service HE, LING Customer Service Representative Brief Job Description: Customer Service HEW KOK LEONG Customer Service Representative Brief Job Description: Customer service HU, PENG Customer Service Representative Brief Job Description: Customer Service HUANG, JIAXIN Customer Service Representative Brief Job Description: Customer service.

JIA, XIAO Customer Service Representative Brief Job Description: Customer service JIANG, TIANXUN Customer Service Representative Brief Job Description: Customer Service

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ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin

No.

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151.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/Level and fluent in Mandarin/Basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JIANG, ZHENG Customer Service Representative Brief Job Description: Customer service LE VAN TRUNG Customer Service Representative Brief Job Description: Customer service LEI, LINGFENG Customer Service Representative Brief Job Description: Customer service LEI, ZHONGHAI Customer Service Representative Brief Job Description: Customer service LI, ZHILI Customer Service Representative Brief Job Description: Customer service LI, YONG Customer Service Representative Brief Job Description: Customer Service LI, WEIDONG Customer Service Representative Brief Job Description: Customer Service LIU, ZUNJIANG Customer Service Representative Brief Job Description: Customer service LIU, FENGHUA Customer Service Representative Brief Job Description: Customer service LIU, JIE Customer Service Representative Brief Job Description: Customer Service LIU, XULONG Customer Service Representative Brief Job Description: Customer Service LIU, SHENG Customer Service Representative Brief Job Description: Customer Service LIU, FANGRUI Customer Service Representative Brief Job Description: Customer service LIU, YANPIN Customer Service Representative Brief Job Description: Customer service LU, BIN Customer Service Representative Brief Job Description: Customer service MYO LWIN Customer Service Representative Brief Job Description: Customer service NGUYEN THI PHUONG ANH Customer Service Representative Brief Job Description: Customer Service NGUYEN VAN HIEN Customer Service Representative Brief Job Description: Customer service NONG, RULONG Customer Service Representative Brief Job Description: Customer Service PHONG LE TRINH Customer Service Representative Brief Job Description: Customer service PHUNG THI LY Customer Service Representative Brief Job Description: Customer service.

SHANG, CHENGKUN Customer Service Representative Brief Job Description: Customer Service

TIAN, MAOLAN Customer Service Representative Brief Job Description: Customer Service

QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate / Level and Fluent in Mandarin / Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/Level and fluent in Mandarin/Basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TONG THI TUYET Customer Service Representative Brief Job Description: Customer service.

TRAN TRONG KHANH Customer Service Representative Brief Job Description: Customer Service WANG, JIAN Customer Service Representative Brief Job Description: Customer Service WANG, JUN Customer Service Representative Brief Job Description: Customer Service WANG, YANYUN Customer Service Representative Brief Job Description: Customer Service WU, BINGZHI Customer Service Representative Brief Job Description: Customer Service WU, QINGYI Customer Service Representative Brief Job Description: Customer Service WU, LIJIAO Customer Service Representative Brief Job Description: Customer Service WU, YIHAI Customer Service Representative Brief Job Description: Customer service XIANG, MINGRONG Customer Service Representative Brief Job Description: Customer service XIANG, MINGGUI Customer Service Representative Brief Job Description: Customer service XIANG, YUN Customer Service Representative Brief Job Description: Customer service XIANG, YANG Customer Service Representative Brief Job Description: Customer Service XIAO, YUANHUA Customer Service Representative Brief Job Description: Customer service XIAO, HAIYANG Customer Service Representative Brief Job Description: Customer Service XU, CHUNCAI Customer Service Representative Brief Job Description: Customer Service XU, ZIHAO Customer Service Representative Brief Job Description: Customer Service YU, JINRUI Customer Service Representative Brief Job Description: Customer service ZHANG, JIALONG Customer Service Representative Brief Job Description: Customer Service ZHANG, ZHEN Customer Service Representative Brief Job Description: Customer service.

ZHAO, CHAOYU Customer Service Representative Brief Job Description: Customer service

ZHU, XIAOYU Customer Service Representative Brief Job Description: Customer Service

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: College graduate/Level and fluent in Mandarin/Basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/Level and fluent in Mandarin/Basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in Mandarin / basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and Fluent in Mandarin/ Basic English Salary Range: Php 30,000 - Php 59,999

NANTAI TECHNOLOGY SOLUTIONS INCORPORATED 3rd Floor Net One Center Building 26th Street Corner 3rd Ave. Fort Bonifacio Taguig City

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIN, YICHANG IT Technical Support

195.

Brief Job Description: Maintains the computer networks of all types of organizations, providing technical support and ensuring the whole company runs smoothly.

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg. Quirino Ave. Tambo Parañaque City

196.

197.

WANG, TAO Chinese Customer Service Brief Job Description: Customer support and data base services

WEI, CHAO Chinese Customer Service Brief Job Description: Customer support and data base services

Thursday, July 22, 2021 A9

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With Bachelor’s Degree in Computer Science or any related course with a minimum of 1 year IT experience and able to speak and write in Mandarin.

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

PHILIPPINE FULL DEGREE COMMUNICATIONS CORP. 10/f Alphaland Makati Place 7323 Ayala Ave. Cor. Malugay St. Bel-air Makati City Basic Qualification: THEN CHIT CHEN Ability to perform task and Mandarin Administrative Specialist communicate in Mandarin 198. speaking.

Brief Job Description: Develop administrative staff and resolve administrative Salary Range: problems.

Php 30,000 - Php 59,999 RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila Basic Qualification: PHUNG NGOC THUY Proficient in speaking, Foreign Language Customer Service reading and writing in 199. mandarin Brief Job Description: Conducting research and marketing strategies to Salary Range: develop areas of the business opportunities Php 30,000 - Php 59,999 Basic Qualification: NGUYEN CHI TRUNG Proficient in speaking, Mandarin Customer Service reading and writing in 200. mandarin Brief Job Description: Responsible for handling service support calls Salary Range: Php 30,000 - Php 59,999 Basic Qualification: DUONG TAN PHAT Proficient in speaking, Mandarin Marketing Specialist reading and writing in 201. mandarin Brief Job Description: Conducting research and marketing strategies to Salary Range: develop areas of the business opportunities Php 30,000 - Php 59,999 Basic Qualification: HUANG, SHIYONG Proficient in speaking, Mandarin Operation Specialist reading and writing in 202. mandarin Brief Job Description: Committed to improving customer experience and Salary Range: operational efficiency Php 30,000 - Php 59,999 Basic Qualification: YU, SUO Proficient in speaking, Mandarin Technical Support reading and writing in mandarin 203.

Brief Job Description: To troubleshoot, maintain and monitor the computer Salary Range: system Php 30,000 - Php 59,999 SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f Unit 710 Shaw Blvd. Global Link Center, Brgy. Wack Wack Mandaluyong City Basic Qualification: HUANG, CHUANJIANG fluent in mandarin, both Customer Service Representative oral and written 204.

Brief Job Description: Salary Range: Customer relations service provider Php 30,000 - Php 59,999 SOCIALATEMYIND INC. Unit No. Unit 2c Flr. No. No. 4/f, One E-com Center Bldg. Lot No. 4/f Mall Of Asia Complex Ocean Drive St. District 1, Barangay 076, District 4 Pasay City Basic Qualification: Proficiency in handling CHENG, NING customer questions about Chinese Speaking Admin Associate services or products; 205.

Excellent Mandarin Brief Job Description: communication skills.

Prepare and maintain company documents and reports and coordinate for daily administrative reports.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling LI, ZHEN customer questions about Chinese Speaking Admin Associate services or products; 206.

Excellent Mandarin Brief Job Description: communication skills.

Prepare and maintain company documents and reports and coordinate for daily administrative reports.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling LU, XING customer questions about Chinese Speaking Admin Associate services or products; 207.

Excellent Mandarin Brief Job Description: communication skills.

Prepare and maintain company documents and reports and coordinate for daily administrative reports.

Salary Range: Php 30,000 - Php 59,999 TAISEI PHILIPPINE CONSTRUCTION, INC. Equitable Bank Tower 23/f P. De Roxas San Lorenzo Makati City TAKENAKA, HIROYUKI Basic Qualification: Japanese Assistant Manager Bs Architecture graduate with 17 years of experience Brief Job Description: 208. in construction industry Manage projects with subcontractors; communicate with clients and subcontractors; assist in estimating Salary Range: project costs; provide on-site management of Php 150,000 - Php 499,999 construction projects TANZILA TRADING INC. U-29 3/f Bac. Bagong Milenyo F.b. Harrison St. Brgy. 076 Pasay City Basic Qualification: CHAE, CHANGHYUN Must be flexible, analytical Business Development Analyst and good communicators.

In the next few sections, Brief Job Description: we look at the academic Develop, implement and communicate metrics requirements, professional reporting processes and documentation across plants 209. certifications, and soft skill and companies in collaboration with operations, requirements for BA roles; marketing and sales functions; Fluency in English and Fluency in English and Korean language is a must. Leading and executing Korean Language is a must. various special projects with senior leadership primarily related to the evaluation of possible growth, strategies Salary Range: or driving operational improvement.

Php 30,000 - Php 59,999 Basic Qualification: WANG, YAN Must be flexible, analytical Business Development Analyst and good communicators.

In the next few sections, Brief Job Description: we look at the academic Develop, implement and communicate metrics requirements, professional reporting processes and documentation across plants 210. certifications, and soft skill and companies in collaboration with operations, requirements for BA roles; marketing and sales functions; Fluency in English and Fluency in English and Korean language is a must. Leading and executing Korean Language is a must. various special projects with senior leadership primarily related to the evaluation of possible growth, strategies Salary Range: or driving operational improvement.

Php 30,000 - Php 59,999 Basic Qualification: HE, BINBIN Strong knowledge of Consultant consumer industry, ability to think critically and Brief Job Description: creativity; Fluency in English 211.

Conducting research, surveys, and interviews to gain and Mandarin Language is understanding of the business; Analyzing statistics and a must. presenting information orally, visually, and in writing; Must be fluent in English and Mandarin language.

Salary Range: Php 30,000 - Php 59,999 TELOQUET OUTSOURCING SERVICES INC. Upper 2/f Unit B 2444-a Burgundy Transpacific Place Taft Ave. 079, Bgy 727 Malate Manila

No.

212.

213.

214.

215.

216.

217.

218.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE Basic Qualification: Strong Mathematical and Analytical Skills

NIE, XIAOLI Mandarin Accounts Staff Brief Job Description: Maintain and Monitor Account Information CHIU, YI-HSUN Mandarin Customer Service Brief Job Description: Business Process Outsourcing

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both oral and Written Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both oral and Written

RICKYSEN Mandarin Customer Service Brief Job Description: Business Process Outsourcing

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin Both oral and Written

WANG, XIAOLONG Mandarin Customer Service Brief Job Description: Business Process Outsourcing

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Professional Ecperience

WU, CHI-HUA Mandarin Marketing Specialist Brief Job Description: Perform Market Analysis

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

DONG, ZHONGHAO Mandarin Operations Specialist Brief Job Description: Optimize operational processes and procedures MENG, MUHUA Mandarin Technical Support Brief Job Description: Troubleshoot Hardware/Software Issues

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Skills in Computer networking and Hardware Salary Range: Php 30,000 - Php 59,999

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City Basic Qualification: HE, SHENG Able to speak and write Mandarin Customer Support Representative in Mandarin/Fukien and at least college level with 219.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LI, ZONGHENG Able to speak and write Mandarin Customer Support Representative in Mandarin/Fukien and at least college level with 220.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LIN, ZHIPENG Able to speak and write Mandarin Customer Support Representative in Mandarin/Fukien and at least college level with 221.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: REN, WEI Able to speak and write Mandarin Customer Support Representative in Mandarin/Fukien and at least college level with 222.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YANG, TONG Able to speak and write in Mandarin Customer Support Representative MANDARIN/FUKIEN and at least college level with 223.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ZHENG, JIJIN Able to speak and write Mandarin Customer Support Representative in Mandarin/Fukien and at least college level with 224.

Brief Job Description: related BPO experience.

Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999 VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. Dd Dragon Plaza Dd Meridian P Edsa Ext. Cor. Macapagal Ave. Brgy. 076 Pasay City YE, LING Chinese It Specialist 225.

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

LAI, JIA-HONG It Specialist 226.

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

ONG WENG KANG It Specialist 227.

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

Basic Qualification: 300 Vacancy/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 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 maintaining gaming devices. fluent in mandarin & English speaking Salary Range: Php 30,000 - Php 59,999

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City ZHAO, TONG Bilingual Finance Support Specialist 228.

Brief Job Description: Process and prepare financial and business for the purpose of checking account balances, facilitating.

Basic Qualification: Proficient in speaking foreign language.

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

WELLS FARGO INTERNATIONAL SOLUTIONS LLC-PHILIPPINES Wells Fargo Center 1180 Wells Fargo Drive Mckinley Hill Cyberpark Taguig City

JEEBULA, RAVI KUMAR Site Lead For Fraud Claims And Management, Philippines 229.

Brief Job Description: Responsible for the overall operational performance of a major functional or geographical segment of the company

Basic Qualification: Bachelor’s degree with 20 years of extensive experience in Customer Service and Sales experience in a call center environment for Banking/Financial Services Organization Salary Range: Php 500,000 and above *Date Generated: Jul 21, 2021

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

A10 Thursday, July 22, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Now is the time to save the world

T

here are about 7.9 billion people on earth today.

We know that the world produces enough food to feed all 7.9 billion people, yet one in nine people still go hungry every day. That’s a tragedy. “In a world of plenty, we have no excuse for billions of people to lack access to a healthy diet. This is unacceptable,” said United Nations Secretary General António Guterres.

The UN chief said he is convening a global Food Systems Summit in September during the annual meeting of world leaders at the General Assembly “to urgently make a change.” He said a pre-summit meeting in Rome at the end of this month will work out “how we must address hunger, the climate emergency, incredible inequality and conflict, by transforming our food systems.”

The United Nations said the Covid-19 pandemic dramatically worsened global hunger in 2020. The sharpest rise in hunger came in Africa, where 282 million people are starving. But the global hunger problem is not concentrated in Africa. In Asia, 418 million people are undernourished, and 60 million people in Latin America and the Caribbean suffer from starvation.

To save millions of people from starving, the UN last week urged rich countries to donate billions of dollars for food. Maximo Torero, the UN Food and Agriculture Organization’s chief economist, said $14 billion a year would save 100 million people from hunger. And to achieve the goal of zero hunger by 2030 “we are talking about $40 billion.”

Unfortunately, the richest people on Earth who can afford to help eliminate hunger have different priorities. The multibillionaires in the richest country in the world—Jeff Bezos, Elon Musk, Richard Branson, and others—are too obsessed with making space more accessible when they could use their resources to help solve global hunger. For example, Jeff Bezos spent $5.5 billion to experience four minutes of weightlessness in outer space.

That amount could have saved 39.5 million people from starving. Disgusted critics say these rich people are “deaf to issues on the ground.”

David Beasley, the head of the World Food Program, recently challenged the billionaires competing to fly in space to contribute the $6 billion needed to save 41 million people in 43 countries who are at risk of starving this year. That looks like a huge request, but for these billionaires it’s an amount that’s as good as pocket change. Bezos is worth approximately $205 billion, Musk is worth $160 billion, and Branson, $5 billion. Together, that’s $370 billion, which could prevent people from starving to death 60 times over, according to Beasley’s estimation.

The annual incomes of the world’s 100 richest people could end global poverty four times over, according to a report from Oxfam. Before the pandemic, Oxfam reported that 2,153 billionaires cornered more wealth than the poorest 4.6 billion people worldwide. This level of inequality both exacerbates the conditions of poverty and distorts economies by investing inordinate power in the hands of a small group of people, according to the United Nations.

The challenge of eliminating global hunger is formidable. FAO said “we have the tools and the knowledge to eliminate hunger by 2030.” But first, there’s a need to fix global inequality. “The gap between rich and poor can’t be resolved without deliberate inequality-busting policies, and too few governments are committed to these,” Oxfam said.

May we suggest that the UN chief invite the world’s 100 richest people to attend the global Food Systems Summit in September? The UN can use its voice to tell these multibillionaires that the world needs their help—now…that humanity is facing the greatest crisis any of us have seen in our lifetimes. They need to open their checkbooks now. Tomorrow may be too late.

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BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

BUSINESSMIRROR 07 22 2021

Flying on the stock market John Mangun

OUTSIDE THE BOX

I

F you want to understand how the stock market works, think back to the good old days when we travelled by airplane.

Before you fly, you have to do your homework. A long time ago—when fares were regulated—you had to decide which departure and arrival schedule was most convenient. Then you chose whether to pay for a big seat, champagne, and filet mignon or a small seat, coffee, and burger steak. Homework done; flight booked.

Now it’s considering how far in advance do you need to book to get the biggest discount, how much your baggage is going to cost, and if you want to pay extra to get the seat location you desire. You schedule your flight—and often your vacation— based on the airfare.

Also, back then it was a safe bluechip stock, or a stock which price went nowhere but paid a higher cash dividend, or a “double your money or lose it all” issue. Now it is “potential back-door listing,” “ten-times over-

subscribed IPO,” or “The oligarch family would NEVER let the price fall on their flagship company.” And of course, “Who’s the jockey? That’s what I want to know. ” Travelers on commercial airlines are like stock market investors. Both want to be the first onboard and both want to be the first to get out.

A little secret: When I was flying sometimes as much as one international flight every two or three days, I cheated by using a cane when I came to the boarding area. I was

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deposit. Reward means taking risks.

The reality is that unless you fly on a Boeing 737 MAX or fly on Pakistan International Airlines or SCAT Airlines out of Kazakhstan, there should not be any problem.

Likewise, those that recently bought Abra Mining and previously invested in Calata expected super high returns and therefore should have understood that the risks would be higher.

But unlike on the airplane, the stock market does provide a parachute. It is called the “Sell Button.”

Plane crashes are rare. But if you are concerned, know that the large majority does not cause fatalities.

You can go so far as to check which particular seats on the plane are the “safest.” By the way, do not sit in the cockpit. That is the most dangerous seat on the plane.

You can fly safely and gain the rewards. You can invest in the stock market and gain profits. Just learn how to do both.

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

Biden: ‘Killing people’ remark was call for big tech to act

By Zeke Miller & Barbara Ortutay | Associated Press

W

ASHINGTON—President Joe Biden tempered his assessment that social-media giants are “killing people” by hosting misinformation about the Covid-19 vaccines on their platforms, saying Monday that he hoped they would not take it “personally” and instead would act to save lives.

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able to both get on and off before the others. Don’t hate me. I couldn’t pretend to be pregnant.

There are advantages to being on the plane first and being on the stock before anyone else. However, with both planes and stocks, it is getting to the destination that counts. Actually, last on the flight means you do not have to fight with all the other passengers for the overhead luggage compartment. The flight attendant will always find room someplace for your luggage. Just make sure it is securely locked.

Likewise, it is better to be buying in on the stock after there is a confirmed uptrend. You may miss the higher initial jump. But your goal is to take the long trip and not the short one.

Approximately 30 percent of the global population has at least some fear of flying. That is probably a lot less than “fear of the stock market.”

But we all know that flying is safer than travelling by automobile. Putting your money in a bank is “safer” than the stock market. But you cannot go to Thailand to see the elephants by car. You cannot even beat inflation with the best bank

While companies like Facebook defend their practices and say they’re helping people around the world access verified information about the shots, the White House says they haven’t done enough to stop misinformation that has helped slow the pace of new vaccinations in the US to a trickle. It comes as the US sees a rise in virus cases and deaths among those who haven’t gotten a shot, in what officials call an emerging “pandemic of the unvaccinated.”

Speaking at the White House, Biden insisted he meant “precisely what I said” when he said Friday of the tech giants that “they’re killing people.” But he said the point of his rhetoric was to ramp up pressure on the companies to take action.

“My hope is that Facebook, instead of taking it personally that somehow I’m saying ‘Facebook is killing people,’ that they would do something about the misinformation,” Biden said.

Biden’s comments come as the White House has struggled to counteract resistance to getting a shot, particularly among younger and more Republican demographics.

Fewer than 400,000 Americans are

getting their first vaccine dose each day—down from a high of more than 2 million per day in April. More than 90 million eligible people have not received a dose.

The administration has increasingly seized on false or misleading information about the safety and efficacy of the vaccines as a driver of that hesitance. It has referenced a study by the Center for Countering Digital Hate, a nonprofit that studies extremism, that linked a dozen accounts to spreading the majority of vaccine disinformation on Facebook.

“Facebook isn’t killing people.

These 12 people are out there giving misinformation, anyone listening to it is getting hurt by it, it’s killing people,” Biden said. “It’s bad information.”

“I’m not trying to hold people accountable. I’m trying to make people look at themselves, look in the mirror,” Biden said, adding, “Think about that misinformation going to your son, your daughter, your relative.”

In the view of the administration, chastising the social-media companies—who have come under mounting scrutiny in Washington over not just disinformation, but also

antitrust and privacy practices—is a proxy for criticizing the originators of disinformation themselves.

To avoid amplifying falsehoods, the White House has generally sought to avoid engaging directly with those spreading misinformation.

The platforms, the White House says, have not been transparent about the vaccine misinformation they promote to users, and Facebook in particular has not engaged all its tools to prevent the spread of false information as it tries to avoid alienating its user base and cutting into its profits. The platforms, officials argued, should prevent vaccine misinformation from appearing as suggested or potentially relevant content in users’ feeds.

The Biden team has clashed repeatedly with social-media companies over misinformation for years, and White House chief of staff Ron Klain has raised the issue in conversations with Facebook chief executive Mark Zuckerberg, according to an official. Biden himself has not spoken with the executive since taking office.

Last week, US Surgeon General Vivek Murthy declared misinformation about the vaccines a deadly threat to public health.

“Misinformation poses an imminent and insidious threat to our nation’s health,” Murthy said during remarks Thursday at the White House. “We must confront misinformation as a nation. Lives are depending on it.”

Murthy said technology companies and social-media platforms must make meaningful changes to their products and software to reduce the spread of false information while increasing access to authoritative, fact-based sources.

Too often, he said, the platforms are built in ways that encourage the spread of misinformation.

“We are asking them to step up,” Murthy said. “We can’t wait longer for them to take aggressive action.”

Facebook on Friday responded to Biden’s attack, with spokesperson Kevin McAlister saying, “The facts show that Facebook is helping save lives. Period.”

The company also released a blog post saying its internal research showed it was not responsible for Biden’s missed vaccination goal.

“The data shows that 85 percent of Facebook users in the US have been or want to be vaccinated against Covid-19. President Biden’s goal was for 70% of Americans to be vaccinated

by July 4. Facebook is not the reason this goal was missed.”

Brendan Nyhan, a professor of government at Dartmouth College who focuses on politics and health care, said Facebook “should absolutely be held accountable for allowing vaccine misinformation to spread.”

“With that said, we should be careful about assuming that the circulation of misinformation online is a cause of hesitancy rather than a consequence,” he added.

See “Biden” A11

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Olympics, pandemic and politics: There’s no separating them

Budget delays hijack pandemic, critical projects Val A. Villanueva

Businesswise

By Stephen Wade | AP Sports Writer

T

OKYO—Over and over, year after year, the stewards of the Olympics say it: The Games aren’t supposed to be political.

But how do you avoid politics when you’re trying to pull off an event of this complexity during a lethal and protracted pandemic?

Consider: n The Japanese medical community largely opposes these Olympics; the government’s main medical adviser, Dr. Shigeru Omi, has said it’s “abnormal” to hold them during a pandemic. n Medical journals The Lancet and The New England Journal of Medicine have raised questions about the risks, with the former criticizing the World Health Organization for not taking a clear stand and the latter saying the IOC’s decision to proceed “is not informed by the best scientific evidence.” n The second-largest selling newspaper in Japan, the Asahi Shimbun, has called for the Olympics to be canceled. So have other regional newspapers. n There’s the risk of the Olympics spreading variant strains, particularly after two members of the Ugandan delegation were detected with the Delta variant.

Still, they are going ahead; the opening ceremony is Friday. So how have the International Olympic Committee and the Japanese government of Prime Minister Yoshihide Suga been able to surmount strong opposition?

At the core: the “host city contract” that gives the IOC sole authority to cancel. If Japan cancels, it would have to compensate the IOC. And there are billions at stake. Japan has officially spent $15.4 billion but government audits suggest it’s twice that much. Japanese advertising giant Dentsu Inc., a key player in landing the corruption-tainted bid in 2013, has raised more than $3 billion from local sponsors.

Estimates suggest a cancellation—highly unlikely at this point, less than 48 hours before the opening—could cost the IOC up to $4 billion in broadcast rights income.

Broadcasting and sponsors account for 91% of the IOC income, and American network NBCUniversal provides about 40% of the IOC’s total income.

The Associated Press sought perspectives from inside and outside Japan on the politics of putting this on.

KOICHI NAKANO, political scientist, Sophia University: “It’s a bit like a gambler who already has lost too much. Pulling out of it now will only confirm the huge losses made, but carrying on you can still cling to the hope of winning big and taking it all back. (Suga) might as well take the chance and hope for the best by going ahead with it. At least there is some chance that he can claim the games to be a success — just by doing it — and saturating the media with pride and glory might help him turn the negative opinion around.”

MARK CONRAD, lawyer, Gabelli School of Business, Fordham University: “The IOC carries a brand that is powerful. Athletes from around the world coming together to compete in peace is a heart-tugging draw. It takes an entertainment event and infuses it with a certain level of piety and awe. Who is against peace?

With this “Olympism” as a goal, it has snagged corporate sponsors willing to pay lots of money. Therefore, the IOC has the leverage to exact contract terms very favorable to it and it certainly has done that in this case. The fact that only the IOC can formally decide to pull the plug on the games—even in the case of unforeseeable health events—is testament to this.”

HELEN JEFFERSON LENSKYI, sociologist, author, “The Olympic Games: A Critical Approach”: “The host city contract hands over

all the power to the IOC. The Olympic industry has had 120-plus years to win hearts and minds around the globe, with obvious success. In the age of the Internet, their PR controls the message and protects the brand 24/7. The IOC is also beyond the reach of any oversight agency, including the governments of host countries. It can violate a country’s human rights protections with immunity, including athletes’ right to access domestic courts of law.”

AKI TONAMI, political scientist, University of Tsukuba: “Based on what I am hearing, people within the government have been given their instructions to make the Games happen, and that is their singular focus right now—for better or for worse. Their hope is to get through the Games with as few missteps as possible. Politicians may well be aware of the risk they are taking but hope that once the games begin the Japanese public will persevere ‘for the good of Japan’ and forget how we got there.”

JOHN HORNE, sociologist, Waseda University, co-author with Garry Whannel of “Understanding the Olympics”: “The IOC is an elitist club that garners support from other elites and people—and countries—that aspire to joining the elite. From a sports perspective, the IOC represents the custodian of the exclusive medals that athletes in numerous sports aspire to, acts as the chief promoter of the mythology of the healing power of sport, and the organization that most international sports federations and national Olympic committees are reliant on for funding.”

GILL STEEL, political scientist, Doshisha University: “Politically, the opposition is so weak, the government can do pretty much anything it wants. Although a disastrous Olympics would damage the LDP’s credibility, the party likely feels safe because a majority of the public doubts the capability of the opposition to govern. The government may be hoping that once the games start, public opinion will turn—at the very least, producing a distraction, and at most, perhaps a rally round the flag effect.”

ROBERT WHITING, author of several books on Japan including the latest, “Tokyo Junkie”: “You notice how nobody seems to be in charge. You have all these different entities: the Tokyo organizing committee; the Japanese Olympic Committee; the prime minister’s office; the governor of Tokyo, Yuriko Koike; the Japan Sports Agency; the Foreign Ministry; the Ministry of Education, Culture, Sports, Science and Technology. Suga is asked in the Diet (Japanese parliament) about canceling the games and says it’s not his responsibility. Nobody wants to lose face.”

DAVID LEHENY, political scientist, Waseda University: “A lot of the opposition is shallow and movable, though of course that’s contingent on the Olympics actually working out. There will be a lot of people (broadcasters, etc.) invested in trying to make it look like a good show, so I think they’ll have the winds at their back if there’s not an appreciable spike in Covid deaths or any heat-related tragedies for the athletes.”

RYU HOMMA, author and former advertising agency executive: “If it turns out there is a surge in coronavirus patients and it becomes a catastrophe, that’s not the responsibility of the IOC. It’s the Japanese government that will be stuck with the responsibility.” Associated Press reporter Yuri Kageyama contributed to this report.

Thursday, July 22, 2021 A11

T

he legislative arm of government has been clamoring for the timely and efficient release of funds meant for pandemic response. This has been an ongoing plea since October of last year, but it seems that the senators’ cries have fallen on deaf ears as the Department of Budget and Management (DBM), who earmarked more than P160 billion “for later release” (FLR)—much to the chagrin of legislators and citizens alike—has decided to withhold the fund with no plausible explanation.

In a recent broadcast interview, DBM Secretary Wendel Avisado said of the FLRs, and I quote, “Idadaan lahat yan sa Office of the President, kasi siya ’yung may final approval. [Everything must pass through the Office of the President because he has final approval.]” This is in and of itself already incredibly perplexing, since it is unheard of for the Chief Executive to hold the funds of the General Appropriations Act (GAA) while waiting for “documents and submissions.” Isn’t it the mandate of the DBM to manage the budget?

Even a mere perfunctory review of Avisado’s statements to the press regarding public expenditures shows someone who is not actually on top of the budget. This is quite alarming— knowing that, due to the pandemic, the Philippines has much more than money at stake here. For example, the DBM Secretary said on June 5 that the government will have to

spend beyond its original allocated budget of P82.5 billion for Covid-19 vaccines this year. They had to tap into the contingency fund allocated in the 2021 National Budget, he said, so that the Department of Health (DOH) would be able to pay for a measly 4 million doses of vaccines for public inoculation.

Then, not two weeks later, Avisado said that almost a fourth of the pandemic funds remained undisbursed. This does not inspire a lot of confidence that the national budget, signed into law by the President himself, is intact. If put in the privatesector perspective, this means that, if any Finance Department head or accountant dipped into the contingency funds of a company, then revealed that a fourth of the allocated budget was still available afterwards, it would not only raise a red flag, but it would also result in that person’s termination for negligence of duty.

Notwithstanding all this fingerpointing, people are still suffering—financially, physically, and emotionally—from the consequences of Covid-19. If Avisado’s blame claim is indeed true, then why is the OP still not releasing the funds that can help bankroll critical government programs?

Furthermore, it is curious that somehow the Department of Public Works and Highways (DPWH) was able to have its FLR funds amended by the DBM and its funds released on schedule, according to a January 5, 2021 budget circular. All it took for the DBM to approve this amendment and return Secretary Mark Villar’s budget was…well, we don’t quite know because the annex that the amendment was hinged on was not included in the budget circulars that are publicly available.

Among those who raised concerns about the issue was Senate Minority Leader Franklin Drilon who pointed out that FLRs may be released by the DBM Secretary “or any other official acting on the authority of the President.” Why then has Avisado been foisting the delay on the Office of the President when he is clearly in authority to allow disbursements?

Usually when following paper trails, credentials play an important role in determining where the breakdown lies. According to the Philippine News Agency, Secretary Avisado previously served as Presidential Assistant for Special

Concerns to oversee the rehabilitation of areas affected by Typhoon Yolanda. Although Yolanda hit the country in 2013, there remain unliquidated funds as late as June 2020. From 2000 to 2015, Avisado was also Deputy Secretary General for the Housing and Urban Development Coordinating Council, the umbrella agency where the Social Housing Finance Corp. belongs.

In 2014, the Commission on Audit tagged SHFC for payroll irregularities. The most interesting perhaps of Avisado’s former appointments is his being the City Administrator of Davao City when President Duterte was its mayor. The PNA also cited Avisado as an active member of the Boy Scouts of the Philippines and waxed on his accomplishments in that allegedly problematic organization.

It behooves me to say that Avisado does not seem to have a solid track record in fiscal management, and this leads to even more questions.

Notwithstanding all this fingerpointing, people are still suffering— financially, physically, and emotionally—from the consequences of Covid-19. If Avisado’s blame claim is indeed true, then why is the OP still not releasing the funds that can help bankroll critical government programs? Whether it is the DBM or the OP’s responsibility, the Filipino people need the government funds released now—not later—before more lives are sacrificed to Covid and government inaction.

For comments, suggestions, e-mail me at mvala.v@gmail.com

Jeff Bezos blasts into space on own rocket: ‘Best day ever!’

By Marcia Dunn | AP Aerospace Writer

doing somersaults, tossing Skittles candies and throwing balls, with lots of cheering, whooping and exclamations of “Wow!” The Bezos brothers also joined their palms to display a “HI MOM” greeting written on their hands. The capsule landed under parachutes, with Bezos and his guests briefly experiencing nearly six times the force of gravity, or 6 G’s, on the way back.

Led by Bezos, they climbed out of the capsule after touchdown with wide grins, embracing parents, partners and children, then popped open bottles of sparkling wine, spraying one another.

“My expectations were high and they were dramatically exceeded,” Bezos said later.

Their flight lasted 10 minutes and 10 seconds—five minutes shy of Alan Shepard’s Freedom 7 flight in 1961. Shepard’s daughters, Laura and Julie, were introduced at a press event a few hours later.

Sharing Bezos’ dream-come-true adventure was Wally Funk, from the Dallas area, one of 13 female pilots who went through the same tests as NASA’s all-male astronaut corps in the early 1960s but never made it into space.

“I’ve been waiting a long time to finally get it up there,” Funk said.

“I want to go again—fast,” she added.

Joining them on the ultimate joyride was the company’s first paying customer, Oliver Daemen, a lastminute fill-in for the mystery winner of a $28 million charity auction who opted for a later flight. The Dutch

teen’s father took part in the auction, and agreed on a lower undisclosed price last week when Blue Origin offered his son the vacated seat.

“It was so amazing,” Daemen said.

“Let’s hope that many, many more people can do this.”

Four hours after their flight, Bezos drove his crew over to see the rocket that carried them safely to space. Among the items brought on the flight: A pair of aviator Amelia Earhart’s goggles and a piece of fabric from the original Wright Flyer.

“I got goose bumps,” said Angel Herrera of El Paso, who watched the launch from inside Van Horn High School, about 25 miles (40 kilometers) away. “The hair on the back of my neck stood up, just witnessing history.”

No one is rushing to buy a ticket from this bleak and isolated town.

“This ride is only for the wealthy,” pizza shop owner Jesus Ramirez said after watching the launch, adding that he hoped the venture would attract businesses to the town and provide opportunities for local companies.

Blue Origin—founded by Bezos in 2000 in Kent, Washington, near Amazon’s Seattle headquarters — hasn’t revealed its price for a ride to space but has lined up spots for other auction bidders. Ticket sales, including the auction, are approaching $100 million, Bezos said. Two more flights are planned by year’s end.

The recycled rocket and capsule used Tuesday flew on the last two space demos, according to company officials.

Virgin Galactic already has more than 600 reservations at $250,000 apiece. Founded by Branson in 2004, the company has sent crew into space four times and plans two more test flights from New Mexico before launching customers next year.

Blue Origin’s approach was slower

and more deliberate. After 15 successful unoccupied test flights to space since 2015, Bezos finally declared it was time to put people on board. The Federal Aviation Administration agreed last week, approving the commercial space license.

Bezos, 57, who also owns The Washington Post, claimed the first seat. The next went to his 50-yearold brother, Mark Bezos, an investor and volunteer firefighter, then Funk and Daemen. They spent two days together in training.

University of Chicago space historian Jordan Bimm said the passenger makeup is truly remarkable. Imagine if the head of NASA decided he wanted to launch in 1961 instead of Shepard on the first US spaceflight, he said in an e-mail.

“That would have been unthinkable!” Bimm said. “”It shows just how much the idea of who and what space is for has changed in the last 60 years.”

Bezos stepped down this month as Amazon’s CEO and last week donated $200 million to renovate the National Air and Space Museum.

Fewer than 600 people have reached the edge of space or beyond.

Until Tuesday, the youngest was 25-year-old Soviet cosmonaut Gherman Titov and the oldest at 77 was Mercury-turned-shuttle astronaut John Glenn. Both Bezos and Branson want to drastically increase those overall numbers, as does SpaceX’s Elon Musk, who’s skipping brief space hops and sending his private clients straight to orbit for tens of millions apiece, with the first flight coming up in September.

“We’re going to build a road to space so our kids and their kids can build the future,” Bezos said. “We need to do that to solve the problems here on Earth.” AP reporters Sean Murphy

even if we see correlations in the data, these could be spurious rather than causal—people who aren’t going to get vaccinated are presumably more likely to be exposed to negative and false information about the vaccine.”

That said, Nyhan added that there is some evidence that exposure to misinformation can reduce a person’s intention to vaccinate

immediately after viewing the misinformation.

White House press secretary Jen Psaki insisted Monday: “We’re not in a war or battle against Facebook— we’re in a battle with the virus.”

But she ramped up pressure on the companies to share information on how many Americans are exposed to misinformation on their platforms and how their secretive and

powerful algorithms promote false content to users.

“Do you have access to information from these platforms as to who is receiving misinformation?” she asked. “I don’t think that information has been released. Do you know how the algorithms are working at any of these platforms?

I don’t think that information has been released.”

V

AN HORN, Texas—Jeff Bezos blasted into space Tuesday on his rocket company’s first flight with people on board, becoming the second billionaire in just over a week to ride his own spacecraft.

The Amazon founder was accompanied by a hand-picked group: his brother, an 18-year-old from the Netherlands and an 82-year-old aviation pioneer from Texas—the youngest and oldest to ever fly in space.

“Best day ever!” Bezos said when the capsule touched down on the desert floor in remote West Texas after the 10-minute flight.

Named after America’s first astronaut, Blue Origin’s New Shepard rocket soared on the 52nd anniversary of the Apollo 11 moon landing, a date chosen by Bezos for its historical significance. He held fast to it, even as Virgin Galactic’s Richard Branson pushed up his own flight from New Mexico and beat him to space by nine days.

The two private companies chasing space tourism dollars, though, have drawn criticism for catering to the rich while so many are struggling amid the pandemic.

During Tuesday’s flight, Blue Origin’s capsule reached an altitude of about 66 miles (106 kilometers), more than 10 miles (16 kilometers) higher than Branson’s July 11 ride.

The 60-foot (18-meter) booster accelerated to Mach 3 or three times the speed of sound to get the capsule high enough, before separating and landing upright.

Unlike Branson’s piloted rocket plane, Bezos’ capsule was completely automated and required no official staff on board for the up-and-down flight.

During their several minutes of weightlessness, video from inside the capsule showed the four floating,

Biden. . .

continued from A10

“It’s very difficult to show the relationship between misinformation on social media and vaccine hesitancy directly,” Nyhan said. “We don’t have good measures of what people see on social media or any ability to link it to their vaccination behavior. And

in Van Horn and Candice Choi in New York contributed to this report.

A12 Thursday, July 22, 2021

DESPITE DISRUPTIONS, Lorenzana: US, PHL to sign INSURANCE IS RESILIENT pact to ‘implement’ the VFA

By Bianca Cuaresma @BcuaresmaBM

T

HE insurance industry showed resilience in 2020 amid the disrupted operating environment that stemmed from restrictions to curb the spread of Covid-19 cases.

In the First Virtual Philippine Insurance Summit—a two-day event of industry updates and discussions on environmental issues, pandemics, innovation and disaster management—leaders from both the life insurance sector and the non-life insurance sector reported solid performances in profitability during the year.

Philippine Life Insurance Association, Inc. (PLIA) president Benedict Sison said the Philippine life insurance sector’s total premium income grew by 5.9 percent to reach P247.7 billion in 2020.

Broken down, 12 firms or 41 percent were able to contribute positively to growth while the other 17 or 59 percent were affected by the pandemic.

“The growth in total premium is partly caused by the variable life single premiums and renewals withheld from the traditional life renewals,” Sison said.

“The good performance in renewals was slightly influenced by the policyholders’ fear of losing insurance protection at the time when risks to their life and health were heightened,” Sison added.

The life insurance sector’s assets likewise grew during the period by 8 percent to hit P1.534 trillion in 2020.

“It is worth noting that despite the reduced economic activity and the decline in

the value of many investment assets, the life sector still managed to pull through,” Sison said.

Non-life

MEANWHILE, Philippine Insurers and Reinsurers Association (PIRA) chairman Allan Santos reported in the same forum that the non-life insurance sector’s net income in 2020 grew by 67 percent from its level in 2019.

Santos said the boost in net income may be attributed to the drop in the loss ratio from 47.8 percent in 2019 to 41 percent in 2020. As a result, the sector’s profit margin increased from 6.2 percent in 2019 to 11.4 percent in 2020. The profit margin is the industry’s net income over its total premiums earned during the period.

The total net worth of the non-life insurance sector also grew 21.6 percent in 2020 to hit P105.7 billion from the P86.9 billion in the previous year.

What was largely affected in both industries, however, was the premium performance of the sector.

For the life insurance industry, new business premium dropped by 20 percent in 2020. For the non-life insurance industry, its net written premium declined by 15 percent in 2020. Pre-pandemic, this metric grew by 14 percent.

“Pandemic-induced factors led to this.

Advisors were unable to go out and sell, employees could not report to the office and drive business, the inflow of new advisors was hampered and consumer spending was weakened due to the uncertainties of the time,” Sison explained.

2 OFWs give birth while in quarantine at Subic freeport

By Henry Empeño

S

Correspondent

UBIC BAY FREEPORT—Two returning overseas Filipino workers (OFWs) unexpectedly felt labor pain while in a quarantine hotel here and gave birth days after arrival from Dammam, Saudi Arabia.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said the new mothers were among the 293 OFWs who arrived last July 7 under the ongoing government repatriation program for OFWs and returning overseas Filipinos (ROFs).

“Our information from the One-Stop-Shop Command at the Subic airport was that both deliveries went well and that the mothers and their babies were healthy,” Eisma said.

She said the first delivery happened on July 9 when one of the OFWs in quarantine at the Vista Marina Hotel here, a 32-yearold resident of Cavite, went into labor.

She was brought by Bureau of Quarantine (BOQ) personnel to a government hospital in Olongapo City where she gave birth.

The following day, July 10, another OFW under quarantine in the same hotel, this time a 36-year-old from North Cotabato, experienced labor pains and was also brought to the Olongapo hospital for childbirth.

“Following completion of the mandatory

isolation and negative RT-PCR test results, they were soon discharged from the Subic quarantine facility,” Eisma added.

The childbirths provided a sidelight to the ongoing government repatriation program using the Subic Bay International Airport (SBIA) as an entry point for Philippine Airlines (PAL) flights ferrying home workers and other returning overseas Filipinos.

Consistent with health protocols, the new arrivals were quarantined for at least seven days in accredited hotels and other accommodation facilities inside the Subic Bay Freeport Zone, Eisma said.

Subic became an alternate port of entry for OFWs and other returning overseas Filipinos in line with government policy to limit arrivals in all international airports in the country to just 1,500 passengers per day to comply with health protocols during the Covid-19 pandemic.

As an alternate entry point for returning OFWs, Subic has received a total of four PAL flights since July 7, including the latest flight this morning that brought in 185 OFWs from Dammam, Saudi Arabia.

The first PAL flight scheduled here for July 5 was diverted to the Clark Freeport due to strong tailwind. Four more OFW flights by PAL are set to arrive in Subic on July 24, 25 and 27 and on August 3.

T

By Rene Acosta

@reneacostaBM

HE United States and the Philippines will sign an agreement that will reinforce and implement the Visiting Forces Agreement (VFA), Defense Secretary Delfin Lorenzana said during a preState of the Nation Address forum on Wednesday.

Lorenzana’s statement implied that the agreement, which governs the presence and activities of American troops in the country, would not be scuttled following the repeated extension of its abrogation process by the Duterte administration.

It was the government that moved for the scuttling of the VFA last year by informing the US government of such intent, but it has since repeatedly extended its notice amid expressed preference by the defense and military establishments for the agreement to stay.

The security officials want the VFA to remain as the country faces territorial threats in the Kalayaan Island Group and West Philippine Sea, where the constant “swarming” presence of Chinese paramilitary ships, including Chinese maritime

militia vessels, has raised alarm.

Lorenzana said that he would sign the “implementing” agreement with US Defense Secretary Lloyd Austin III, who will embark on his Southeast Asian visit next week, with

a stop in the country. The meeting will take place July 29 up to 30.

“The VFA is not being changed, the document will not be changed, but there will be some addendum, signed agreement to implement the VFA,” the defense chief said at the pre-SONA forum that was held virtually.

“That document that was crafted by the VFA Commission is with Malacañang and was still being studied by the Office of the President,” he added.

While he is looking forward to his meeting with his US counterpart, Lorenzana said no agenda has been set yet for the meeting, although he was hoping that they would tackle the VFA, the Mutual Defense Treaty, the bilateral relations between the two countries and the West Philippine Sea. “So, first, VFA will not be changed.

There will be just [a] signed agreement to implement the provisions of the VFA and once it is signed by the President, it will be official document attached to the VFA,” Lorenzana said.

“The VFA is not being changed, the document will not be changed, but there will be some addendum, signed agreement to implement the VFA.”

DELFIN LORENZANA

BM

SECRETARY OF NATIONAL DEFENSE

‘JABS FAIR.’ Mayor Francis Zamora leads the launch of Johnson & Johnson’s vaccines in San Juan City’s inoculation program at the FilOil Flying V Centre on Wednesday (July 21, 2021). The local government received 2,800 doses of J&J from the 1.6 million doses donated by the US through the COVAX facility. Each vial is good for five individuals since each jab should contain 0.5ml of the one-shot vaccine for inoculation. Around 600 individuals from the A2 and A3 priority categories were scheduled to receive their vaccines. NONOY LACZA

Sotto reacts after Roque prods solons on anti-Endo bill

S

OVERSEAS Filipino workers from Saudi Arabia arrive at the Subic Bay International Airport in this July 7 file photo.

ENATE President Vicente Sotto III strongly protested the call of presidential spokesperson Harry Roque nagging the 18th Congress to rush passage of a security of tenure bill when it convenes for its last regular session on July 26.

The bills are more popularly known as “anti-Endo law,” referring to the end-ofcontract practice whereby employers skirt the legal requirement to regularize workers after a fixed probationary period.

The Senate leader lamented there was no need for the Palace official’s hysterics seen to be playing to the gallery, as lawmakers

are on track to pass the awaited legislation for President Duterte to finally sign into law soon.

But first, he reminded Roque that his boss, President Duterte, was the one who vetoed the law passed by Congress in 2019.

New bills have been re-filed since.

Proponents of the remedial legislation, as well as the labor sector, are hoping President Duterte would not veto the new Endo bill as he did the first time in 2019.

Duterte claimed at that time he thrashed the anti-Endo bill because Congress widened the scope and definition of

“labor contracting.”

Roque weighed in last week on the need for Congress to ensure passage of the new, re-filed anti-Endo bill, but gave the wrong Senate bill number. SB 1826 is not about Endo, but the creation of a third congressional district in Rizal Province, Sotto noted.

Earlier, Labor Secretary Silvestre Bello III said that the DOLE will write Duterte soon to ask him to certify as urgent the re-filed Endo bills, so that this could be included among the legislative legacies of the Duterte administration. Butch Fernandez

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, July 22, 2021

B1

Filinvest Reit’s new ₧7 IPO price seen to yield 6.27%

F

By VG Cabuag

@villygc

ILINVEST REIT Corp. (Filreit), the real estate investment trust company sponsored by property developer Filinvest Land Inc., has cut its offer price by 15 percent to P7 per share from the previous indicative price of up to P8.30 per share.

At the said price, it also cuts its proceeds to just P12.55 billion from the previous P14.35 billion.

Broker Regina Capital Development Corp. said at its offer price of P7 apiece, its projected annualized dividend yield would be 6.27 percent for this year and 6.62 percent for 2022.

“These would be considerably higher than the average yield of ARE-

IT Inc. and DDMP Reit Inc.,” Regina Capital said.

Filreit will be the third REIT company to be listed at the Philippine Stock Exchange after the sponsored firms of Ayala Land Inc. and Double Dragon Properties Corp.

“Despite ultimately being an office space lessor, Filreit’s rental income isn’t immune to pandemic downsides,” Regina Capital said.

“The firm runs the risk of downsizing of certain smaller traditional tenants amid the lasting impacts of the recession.”

The broker added that “while majority of its lease contracts will likely remain stable for the year, we are projecting lower EBIT [earnings before interest and taxes] in 2021. Net income could still be stable this year in spite of this, however, assuming Filreit continues recognizing income tax benefits.”

Filreit, formerly known as Cyberzone Properties Inc., is set to offer 1.63 billion secondary shares and up to 163 million over-allotment option shares.

The offer period is scheduled on July 26 to August 3, 2021, while its tentative listing date at the PSE is on August 12, and will be traded under the stock symbol FILRT. Filreit will offer 10 percent of its shares to local small investors.

The company’s portfolio consists of 17 office buildings on prime prop-

erty totaling over 300,000 square meters of gross leasable area. The 16 buildings are located in Northgate Cyberzone within Filinvest City in Alabang while one is in the gateway of Cebu IT Park in Lahug, Cebu City.

Filreit’s sponsor, FLI, has 14 operational office buildings and 11 more under construction located in key central business districts that may form additional pipeline acquisitions for the company. These buildings are expected to total approximately 315,000 square meters of gross leasable area.

BPI Capital Corp. and UBS AG Singapore Branch are the joint global coordinators and bookrunners for the offer. BPI Capital is also the sole local coordinator and local lead underwriter while UBS AG Singapore Branch is the international bookrunner. China Bank Capital Corp. is a local lead underwriter while First Metro Investment Corp. and SB Capital Investment Corp. are local co-lead underwriters.

A Brown files with SEC for offering L

ISTED firm A Brown Co Inc. has filed its registration statement with the Securities and Exchange Commission for a shelf registration of 50 million non-voting perpetual preferred shares.

The company said it will initially offer some 15 million in preferred shares at an offer price of P100 apiece, or proceeds of P1.5 billion.

The rest of the preferred shares will be offered within three years.

PNB Capital and Investment Corp. is the offering’s sole issue manager, lead underwriter and bookrunner.

A Brown said it aims to use proceeds from the initial offering to fund the development of pipeline real estate projects, land banking initiatives, funding requirements of subsidiary Irradiation Solutions Inc. and other general corporate purposes.

The dividends of series A preferred shares shall be at the fixed rate of between 6.5 percent and 7 percent per year.

The company said it will start the offer period on October 11 through October 19, and will be listed at the Philippine Stock Exchange on October 28.

Some P600 million of the pro-

ceeds will be used to fund its pipeline real-estate projects including those in Tanay in Rizal, Bukidnon, Butuan, Misamis Oriental and Cagayan de Oro. With a land bank of 293 hectares that can support its pipeline projects, the company intends to use up to P400 million of the proceeds from the offer to support additional land banking initiatives in the areas of Tanay, Rizal, Cagayan de Oro City, Butuan City, and Bukidnon.

Some P350 million will be used to fund its unit Irradiation Solutions Inc., which has a Tanay Multipurpose Irradiation Facility Project, envisioned to be the first commercial E-Beam facility to be built in the Philippines. The facility will ensure local products, fruits and seafood exports meet international quality standards.

With the current pandemic, the facility will also be used to sterilize medical-related products like PPEs, gloves, gowns, face masks, dressings and syringes.

As of end March, the company has completed a total of 15 projects located in Cagayan de Oro City, Valencia City, Butuan City and Initao,

Misamis Oriental covering 4,144 units over a total developed area of over 200 hectares.

The company also has a total of eight ongoing projects located in Cagayan de Oro City and Butuan City, with 17 more in the pipeline covering a total area of more than 400 hectares consisting of high-end and economic, socialized units, memorial gardens and farm estates.

“The company has historically targeted the full spectrum of the real-estate industry, enabling it to promptly take advantage of shifts in the demand of its customers.

Hence, it is in a position to venture into pockets of growth areas as seen in the current thrust to supply the necessary housing inventory to address the backlog in the economic and socialized segments,” the company said.

The company has established itself as a premier developer for the middle-middle, upper-middle and premium markets in Mindanao. “(The company) has substantial investments in the utilities sector that contributes an element of stability into its revenues streams, supplementing its real estate sales.” VG Cabuag

Radio, TV firm eyes 35 stations

P

HILIPPINE Collective Media Corp., a radio and television broadcasting company that has its roots in Tacloban, said it will expand to the number of its station to another 35 more areas in the country this year.

Sofonias Gabonada Jr., the company’s president, said these 35 areas will be the corporation’s next growth areas. At the moment, the company is in its 18th station, after completing the station for streaming in Fairview and Makati.

“We will be going to Southern Leyte, Maasin and Bacolod. Those are site inspections and technical inspections after which we will start constructing the studios there and after a month and a half, we will be launching the studios,” Gabonada said in a statement.

“Our motivation really is to provide alternative sources of information and entertainment, most importantly to areas that were underserved. Although there are local

stations in the area, it’s also important to come up with a network type information delivery system both for TV and radio,” he said.

The company recently partnered with the Department of Education to air Radyo Eskwela to provide a platform for learning across the country. It also partnered with the Department of Health for healthrelated advisories. Gabonada said the company has more plans in terms of expansion especially in preparation for 2022 elections. The corporation hopes to get veteran and well-known personalities to expand the organization of PCMC. “We need to provide people with a better platform to inform them of basically everything in terms of their choices in 2022, what do we expect for 2022, and these areas of concern are also our concerns. We will be providing the people with the right, timely, and relevant information,” he said.

In May, the parent firm of Prime

Media Holdings Inc., a listed company that has minimal operations, has signed a memorandum of understanding with PCMC to merge the two firms in a move to create a viable and operational enterprise.

In its disclosure, Prime Media said its parent RYM Business Management Corp. signed the deal with PCMC for a share-for-share swap deal.

PCMC shareholders will exchange their respective shares the company for shares of common stock in Prime Media in order to gain majority ownership and control of the listed firm.

In turn, the Prime Media will acquire PCMC, which will become its wholly-owned subsidiary. PCMC, which started its operation in Tacloban in 2009 as a regional station, is currently engaged in the business of radio and television broadcasting with active radio stations, frequencies and permits as well as a national franchise granted through Republic Act 11508. VG Cabuag

RCBC says online financial app downloads hit 4.2M

R

IZAL Commercial Banking Corp. (RCBC) said its online financial platform “DiskarTech” has hit 4.2 million downloads a year after its launch, with 4 out of 5 of them coming from provinces in the country.

In a statement, the platform said their 4.2 million downloads yielded at least 1 million basic deposit accounts, a total deposit size of P74.6 million, and a total usage value worth 2.5 billion. RCBC also said that 80 percent of DiskarTech users come from the provinces.

RCBC launched its platform at the height of the pandemic in July last year in an effort to provide “sachet banking services” to many unbanked and underserved Filipinos. “[Through DiskarTech] we wanted to change the perception of Filipinos where banking is concerned. We want to focus on providing service especially to the underserved and the unbanked Filipinos especially in the provinces. We want them to achieve their financial aspirations, to experience asenso at ginhawa,” RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer Angelito M. Villanueva said.

RCBC said it developed the platform to serve customers in grassroots communities. Users can deposit and withdraw money, buy mobile load, apply for loans and insurance, and transact other digital payments, among others.

It was also designed with a default interface in Taglish (a mix of Tagalog

and English) or Visayan.

The platform also partnered with several government agencies such as the Department of Social Welfare and Development (DSWD) and the Department of Labor and Employment (DOLE) to digitize aid distribution during the pandemic.

DiskarTech was able to disburse a total of P16.13 billion in financial aid, benefitting 4.5 million households or 22.83 million individuals nationwide. Social Security System (SSS) members can also receive their loan proceeds and benefits directly to their DiskarTech accounts.

“There will be more features to be introduced for more users of DiskarTech. We would always want to be the first to continue innovating to be a fully inclusive mobile application,” Villanueva said. Earlier this month, International credit watcher Moody’s Investor Services said Financial technology has “abundant room for growth: in the Philippines.

“The country presents a large untapped market for fintech companies because only a small proportion of the country’s population uses banking services, with about 70 percent of adults in the Philippines lacking access to banking and financial services,” Moody’s Analyst Joyce Ong was quoted in a statement as saying.

Moody’s report noted that “Philippine banks have been slow to develop new digital services, such as digital micro loans and mobile wallets, to attract new customers from the unbanked population.”

B2

Companies BusinessMirror

Thursday, July 22, 2021

Issues hurled vs Foodpanda prompt call for app boycott

C

By Lorenz S. Marasigan

@lorenzmarasigan

ONSUMERS must boycott popular food delivery app foodpanda of Delivery Hero SE for its alleged mistreatment of delivery riders, a public policy think tank said on Wednesday.

Terry Ridon, the convener of Infrawatch Philippines, said technology delivery platforms should not “treat their riders with indignity and contempt.”

“As a platform business, foodpanda’s success is dependent on its users: food vendors, riders and customers. We are encouraging its users to migrate to other platforms that can provide better beneficial relationships, most particularly to its riders, whose daily subsistence

incomes are dependent on every transaction,” he said.

To recall, foodpanda recently suspended a number of its riders in Davao after they held a protest against the supposed unfair payment scheme. They were suspended from the platform for 10 years.

Ridon said customers should boycott foodpanda and start using other food delivery apps in order to show their support for the disgruntled riders.

lic offering, new investors should be given notice that the company currently treats its riders with indignity. Unless resolved, they deserve no single amount of new funding,” he said.

The Department of Labor and Employment had already looked into the labor practice of the popular food delivery app last year after some lawmakers accused Foodpanda of shortchanging its riders.

It hopes to finally address the issue by coming out with new guidelines to determine if an employeremployee relationship exists between the riders and foodpanda.

Among the factors that the agency is considering in assessing if such a relationship exists are the following: hiring mechanisms, payout processes, control in the working condition and the power to end the employment of riders.

Berlin, Germany-headquartered Delivery Hero said in its latest financial report that orders are up 88 percent year-on-year (YoY) to 663 million in the first quarter with Gross Merchandise Value (GMV) up 83 percent YoY at 7.8 billion euros and total segment revenue up 116 percent YoY at 1.4 billion euros.

Last year, the firm established a financial fund for riders with a volume of 3 million euros, “supporting those riders who are engaged as freelancers and directly affected by Covid-19 for a duration of up to 15 days.”

Aside from the boycott call, he also questioned the business model of foodpanda, which takes in riders as “independent contractors” and not as regular employees.

Almost all digital platforms for delivery employ this scheme, calling the riders “partners” and classifying them as micro-entrepreneurs.

In the case of foodpanda, it makes money by adding a certain percentage to food order prices. Riders, on the other hand, get payment for their delivery orders.

“If the riders were truly independent contractors, why can they not opt out of providing service to food delivery apps? Why should they then be suspended from providing services due to activities unrelated to their service agreement?” Ridon asked.

The suspension of the riders for a decade, he said, is a reflection that foodpanda actually has an employeremployee relationship with the riders, which means that they are not independent contractors.

Ridon also called on investors to stop investing in foodpanda for now until it “complies with reasonable labor standards in dealing with its riders.”

“Foodpanda should be warned that it has not yet captured market leadership in the Philippines, and critical towards this is continuing investment funding for rapid growth. Whether through another investment round or an initial pub-

mutual funds

July 21, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

-5.69%

-5.29%

31.43%

-1.55%

-0.05%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9246

211.39

4.84%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3646

7.71%

-9.76%

-7.77%

-6.65%

Climbs Share Capital Equity Investment Fund Corp. -a 0.749

8.65%

-5.52% n.a.

-6.83%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7307 9.44%

-4.34% n.a.

-1.47%

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

-3.56%

-3.37%

-5.37%

1.35%

-6.72%

-7.38%

-2.58% n.a.

-3.03%

4.6758

8.13%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6918 23.09%

-6.97% 3.93%

MBG Equity Investment Fund, Inc. -a

98.85

PAMI Equity Index Fund, Inc. -a

43.3332

6.8%

-3.93%

-4.23%

-7.5%

Philam Strategic Growth Fund, Inc. -a

454.63

4.75%

-3.91%

-4.63%

-7.02%

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

1.0482

Philequity Dividend Yield Fund, Inc. -a

1.1177

9.17%

-3.14%

-3.27%

-4.32%

Philequity Fund, Inc. -a

32.6333

8.29%

-3.14%

-3.06%

-6.14%

18.79% n.a. n.a.

-4.47%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8462

5.79% n.a. n.a.

-7.32%

Philequity PSE Index Fund Inc. -a

4.4447

7.54%

-7.23%

743.78

Soldivo Strategic Growth Fund, Inc. -a

0.6799

Philippine Stock Index Fund Corp. -a

-3.6%

-7.22%

8.92%

-6.91%

-6.53%

-5.42%

-5.38%

-4.86%

-6.6%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8492 6.99%

-3.58%

-3.76%

-7.46%

United Fund, Inc. -a

-3.71%

-2.77%

-6.29%

-3.02%

-3.07%

3.1103

7.69%

-3.21%

-3.48%

6.04%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3848

7.48%

-3.29%

-8.95%

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

99.8332

7.45%

-7.18%

Primarily invested in foreign currency securities $1.2371

21.13%

6.35%

7.39%

2.84%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7959

ATRAM AsiaPlus Equity Fund, Inc. -b

24.94%

11.33%

11.91%

7.36%

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

1.6595

6.12%

0.01%

-2.28%

-0.55%

ATRAM Philippine Balanced Fund, Inc. -a

2.1692

4.71%

-1.15%

-1.96%

-5.08%

First Metro Save and Learn Balanced Fund Inc. -a 2.5294

4.08%

-0.33%

-1.22%

-3.72%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1892

1.45% n.a. n.a.

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

1.9133

3.34%

1.38%

-0.45%

-2.58%

PAMI Horizon Fund, Inc. -a

3.5904

2.06%

0.44%

-1.77%

-5.22%

Philam Fund, Inc. -a

16.0878

2.74%

0.55%

-1.76%

-5.01%

Solidaritas Fund, Inc. -a

2.0019

3.51%

-0.89%

-1.48%

-4.4%

3.61%

-1.79%

-2.72%

-4.2%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.423 Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9674

1.59% n.a. n.a.

-5.4%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8756

2.34% n.a. n.a.

-7.75%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8596

3.48% n.a. n.a.

-7.88%

Sun Life Prosperity Dynamic Fund, Inc. -a

4.79%

-3.73%

0.8546

-2.26%

-3.14%

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

$0.03829

-1.37%

2.88%

1.28%

-2.12%

PAMI Asia Balanced Fund, Inc. -b

$1.1246

11.16%

3.98%

4.17%

-2.23%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7355 18.97%

8.74%

8.37%

4.93%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2183 9.45%

5.13%

4.58%

1.35%

-4.73%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 21, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH

45 104.1 84.3 24.1 7.94 9.55 44.1 10.28 20.25 56.1 20 108 75.8 1.38 4.29 2.91 1.26 0.355 0.66 212.4

45.45 105 85.05 24.5 8.48 9.56 44.2 10.72 20.35 57.4 20.1 110.3 75.95 1.4 4.37 2.92 1.3 0.39 0.7 228.6

44.85 108.3 86.2 25.25 7.92 9.65 46 10.6 20.6 57.4 20.2 113.8 76.85 1.38 4.33 2.92 1.27 0.36 0.66 232

45 108.3 86.5 25.25 8.48 9.7 46 10.6 21.2 57.4 20.2 113.8 76.85 1.38 4.37 2.92 1.27 0.395 0.66 232

44.85 104.1 84.3 24.1 7.92 9.5 44.05 10.44 20.05 56.05 20 108 75.95 1.37 4.29 2.91 1.27 0.355 0.66 228.6

45 104.1 84.3 24.5 8.48 9.56 44.1 10.44 20.25 56.1 20 108 75.95 1.38 4.37 2.91 1.27 0.355 0.66 228.6

58,800 2,686,640 928,280 100,200 200 187,900 8,129,300 3,800 308,000 1,280 149,100 880,830 42,130 283,000 84,000 20,000 82,000 220,000 45,000 1,220

2,645,305 281,804,546 78,802,284 2,433,555 1,640 1,796,002 362,266,490 39,704 6,291,565 72,207.50 2,993,505 96,643,603 3,210,891.50 388,660 363,220 58,380 104,140 79,000 29,700 280,740

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG MONDE NISSIN SHAKEYS PIZZA ROXAS AND CO RFM CORP SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

7.99 1.25 23.4 0.6 28.85 74 266 17.16 3.18 3.91 12.8 19.3 11.26 15.02 5.81 2.85 13.5 24.1 15.5 7.55 12.1 81.45 0.65 1.26 89.6 204 29.05 7.58 6.15 0.25 15.02 7.8 1.01 4.42 0.134 134 0.8 2.34 50 1.23 14.54 7.7 6.48 6.25 14.24 1.01 1.71 144.4 1.66 1.82 4.52 5.2 20.15 2.84 8.91 0.97 5.82 1.27 5.17

8 1.27 23.5 0.61 29 74.5 269 17.2 3.19 4.09 12.94 19.36 11.34 15.8 5.82 2.9 14.2 24.3 15.56 7.57 12.28 84.95 0.66 1.29 89.9 204.2 30.45 7.99 6.24 0.26 15.08 7.94 1.02 4.5 0.14 135.9 0.81 2.49 51 1.24 14.88 7.8 6.5 6.27 14.38 1.03 1.72 191 1.69 1.83 5.38 5.35 21.9 2.85 8.94 0.99 6.19 1.28 5.19

8.1 1.25 23.95 0.64 29.8 75.8 270.6 17.26 3.36 4.09 12.8 19.8 11.58 16 5.8 2.87 13 24 15.82 7.8 12.5 81 0.65 1.32 91.3 210 29.25 7.58 6.18 0.255 15.1 7.72 1.02 4.5 0.14 135.6 0.82 2.3 51.55 1.25 14.5 7.81 6.78 6.32 14.22 1.02 2.02 144.4 1.67 1.87 5.34 5.4 20.15 3 9.2 1.03 6.2 1.26 5.25

8.25 1.27 23.95 0.65 29.8 75.8 274 17.3 3.36 4.09 12.98 19.8 11.58 16 5.93 2.89 14.2 24.4 16 7.87 12.5 84.95 0.65 1.33 91.3 210 29.25 7.58 6.3 0.27 15.1 8.48 1.02 4.5 0.146 137 0.82 2.3 51.55 1.27 15 7.85 6.79 6.35 14.4 1.06 2.02 144.4 1.69 1.96 5.4 5.4 20.35 3.04 9.38 1.03 6.2 1.32 5.25

7.94 1.24 23.3 0.59 28.8 74 266 17 3.18 3.91 12.44 19.14 10.58 13.82 5.61 2.84 13 23.2 15.04 7.45 12.1 79 0.64 1.26 86.05 201.2 29.05 7.58 6.15 0.25 14.66 7.55 1.01 4.5 0.134 134 0.8 2.3 50.05 1.23 14.5 7.8 6.33 6.19 14.22 1.01 1.72 144.4 1.66 1.82 5.34 5.35 20.15 2.77 8.9 0.91 6.2 1.26 5.09

8 1.27 23.5 0.61 29 74 266 17.16 3.19 3.91 12.94 19.3 11.34 15.02 5.82 2.85 14.2 24.3 15.5 7.55 12.1 84.95 0.65 1.29 89.9 204 29.05 7.58 6.24 0.26 15.02 7.8 1.01 4.5 0.134 134 0.8 2.3 50.05 1.24 14.88 7.8 6.5 6.25 14.24 1.01 1.72 144.4 1.69 1.83 5.38 5.35 20.15 2.85 8.91 0.99 6.2 1.27 5.19

35,726,800 269,000 2,926,000 33,615,000 571,700 325,790 410,580 1,555,800 1,508,000 702,000 60,000 234,400 1,228,500 43,000 808,800 777,000 4,800 1,366,200 490,600 4,037,900 6,430,400 320,320 399,000 3,407,000 71,960 1,218,030 1,000 9,400 286,100 510,000 14,341,800 420,200 1,348,000 8,000 11,110,000 468,650 742,000 2,000 13,960 1,285,000 24,100 202,500 367,300 379,700 106,000 186,000 17,005,000 110 178,000 277,000 3,000 120,300 20,100 13,239,000 902,000 1,876,000 100 431,000 1,802,000

2,127,805 -90,097,769 24,118,100.50 230,310 956 -169,656,630 621,630 100,750 -16,500,657 2,317,097 -64,950 16,500 2,300

286,889,533 336,560 68,681,390 20,498,010 16,575,125 24,512,153 110,016,168 26,699,580 4,849,660 2,805,090 768,716 4,588,172 13,622,578 637,018 4,750,703 2,215,010 67,750 32,584,660 7,647,082 30,553,847 78,339,786 26,420,242.50 256,990 4,405,450 6,388,085.50 248,510,516 29,135 71,252 1,768,959 130,150 213,839,342 3,289,586 1,362,410 36,000 1,528,170 63,312,847 600,370 4,600 706,508 1,593,370 352,980 1,580,177 2,380,225 2,371,268 1,510,130 188,910 30,748,900 15,884 298,250 518,690 16,113 643,900 407,045 38,052,040 8,116,865 1,850,570 620 548,740 9,322,392

40,831,094 -22,223,765 -35,510 -6,252,995 -1,327,800 -20,605,626 8,693,224 -1,102,590 1,397,380 449,720 -487,746 4,066,403 1,046,050 5,633,255 -1,205,320 10,410,511 7,469,210 3,618,846.00 -4,550 12,800 -636,235 16,980,318 -47,754 444,610 -29,287,972 1,218,767 -36,000 128,640 -8,060,891 550,990 840,537 -162,847 196,720 9,150 -338,535.00 -32,500 -188,057 -99,680 9,466

HOLDING & FRIMS ABACORE CAPITAL 0.95 0.96 0.97 0.98 0.95 0.95 3,658,000 3,506,830 6.7 7 7.2 7.2 7 7 2,600 18,300 ASIABEST GROUP AYALA CORP 753 754 758 763 730 754 157,320 117,226,905 38 38.5 39.65 39.65 38 38 897,300 34,425,180 ABOITIZ EQUITY ALLIANCE GLOBAL 9.63 9.64 10.02 10.02 9.41 9.63 12,197,200 116,685,347 3.89 3.9 4.06 4.06 3.88 3.89 6,174,000 24,261,610 AYALA LAND LOG ANSCOR 6.7 6.99 6.7 6.99 6.7 6.99 600 4,078 0.88 0.89 0.9 0.9 0.86 0.89 2,543,000 2,234,290 ANGLO PHIL HLDG 0.62 0.63 0.65 0.65 0.61 0.63 1,100,000 690,870 ATN HLDG A ATN HLDG B 0.63 0.65 0.65 0.65 0.63 0.63 395,000 253,630 5.02 5.06 5.05 5.1 5.01 5.06 188,100 948,629 COSCO CAPITAL DMCI HLDG 6.12 6.13 6.18 6.18 6.06 6.12 8,233,600 50,277,320 7.9 7.95 7.91 7.95 7.9 7.9 95,600 755,335 FILINVEST DEV FJ PRINCE A 2.76 2.99 2.76 2.76 2.76 2.76 10,000 27,600 0.285 0.31 0.31 0.31 0.305 0.31 560,000 173,450 FORUM PACIFIC GT CAPITAL 551 557.5 574 574 551 551 123,650 68,777,075 HOUSE OF INV 3.98 4.03 4 4 3.98 3.98 99,000 395,440 58.2 58.5 60 60 58.2 58.2 1,677,020 98,002,127.50 JG SUMMIT JOLLIVILLE HLDG 5.57 5.61 5.61 5.61 5.61 5.61 800 4,488 0.69 0.7 0.74 0.74 0.66 0.69 1,136,000 780,140 LODESTAR LOPEZ HLDG 3.2 3.26 3.22 3.25 3.21 3.22 719,000 2,317,150 10.88 10.9 10.86 11.22 10.86 10.9 19,579,600 214,347,824 LT GROUP MABUHAY HLDG 0.5 0.54 0.55 0.55 0.55 0.55 200,000 110,000 3.55 3.56 3.7 3.7 3.53 3.56 24,102,000 86,350,360 METRO PAC INV 3.44 3.5 3.5 3.5 3.44 3.44 29,000 100,060 PACIFICA HLDG PRIME MEDIA 2.63 2.67 2.6 2.79 2.6 2.67 550,000 1,466,510 1.16 1.17 1.19 1.2 1.17 1.17 51,000 59,920 SOLID GROUP SM INVESTMENTS 940 945 961 964 924 940 236,000 221,251,575 111.1 111.8 113 113.9 110.5 111.8 170,220 19,015,059 SAN MIGUEL CORP SOC RESOURCES 0.73 0.76 0.77 0.77 0.75 0.77 4,000 3,060 2.13 2.37 2.19 2.19 2.19 2.19 19,000 41,610 SEAFRONT RES 138 139 138 139 137.7 139 750 103,870 TOP FRONTIER WELLEX INDUS 0.265 0.29 0.265 0.27 0.265 0.265 1,370,000 364,050 0.203 0.205 0.206 0.207 0.202 0.202 3,350,000 689,710 ZEUS HLDG

203,450 3,435,790 -10,127,100 -24,811,491 1,253,580 20 -57,060 -255,106.00 14,813,218 -266,585 -15,836,715 -64,420 -57,603,818 -110,000 -9,674,020 -37,900 -30,903,525 -5,262,635 12,420

PROPERTY ARTHALAND CORP 0.63 0.64 0.63 0.65 0.62 0.64 196,000 123,520 33.8 34.3 34.4 34.6 33.75 34.3 11,166,300 380,397,735 AYALA LAND ARANETA PROP 1.16 1.18 1.16 1.16 1.16 1.16 73,000 84,680 36.2 36.25 36.2 36.3 36.15 36.2 424,500 15,369,330 AREIT RT BELLE CORP 1.39 1.4 1.43 1.44 1.39 1.39 269,000 379,000 0.87 0.89 0.89 0.9 0.86 0.89 361,000 317,150 A BROWN CITYLAND DEVT 0.79 0.8 0.84 0.84 0.79 0.79 991,000 794,100 0.127 0.13 0.13 0.131 0.127 0.13 740,000 95,000 CROWN EQUITIES 2.83 2.84 3 3 2.8 2.84 2,878,000 8,276,310 CEB LANDMASTERS CENTURY PROP 0.455 0.46 0.47 0.485 0.46 0.46 16,010,000 7,422,900 10.8 10.9 11.2 11.22 10.64 10.9 747,000 8,155,890 DOUBLEDRAGON DDMP RT 1.92 1.93 1.93 1.96 1.92 1.93 15,087,000 29,165,830 6.98 7 7.06 7.06 6.95 7 60,200 421,080 DM WENCESLAO EMPIRE EAST 0.28 0.295 0.29 0.29 0.28 0.285 630,000 177,600 0.4 0.41 0.415 0.43 0.4 0.4 29,670,000 12,050,000 EVER GOTESCO FILINVEST LAND 1.11 1.12 1.12 1.13 1.1 1.11 12,561,000 13,956,730 GLOBAL ESTATE 0.87 0.89 0.89 0.89 0.88 0.88 8,000 7,050 7.2 7.27 7.13 7.29 7.12 7.29 34,600 250,327 8990 HLDG PHIL INFRADEV 1.25 1.26 1.28 1.29 1.21 1.25 1,591,000 2,007,760 3.06 3.11 3.06 3.06 3.06 3.06 10,000 30,600 KEPPEL PROP CITY AND LAND 1.47 1.48 1.63 1.63 1.47 1.48 779,000 1,173,230 2.91 2.92 2.95 3.03 2.88 2.91 27,027,000 78,977,230 MEGAWORLD MRC ALLIED 0.34 0.345 0.36 0.36 0.34 0.34 35,800,000 12,436,950 0.55 0.56 0.58 0.59 0.55 0.55 15,954,000 8,949,010 PHIL ESTATES 2.6 2.61 2.64 2.64 2.51 2.6 1,832,000 4,722,430 PRIMEX CORP ROBINSONS LAND 15.5 15.52 15.52 15.9 15.34 15.5 4,261,600 66,182,946 0.315 0.32 0.33 0.33 0.31 0.325 1,260,000 397,700 PHIL REALTY ROCKWELL 1.52 1.55 1.57 1.57 1.53 1.55 29,000 44,570 2.65 2.7 2.65 2.65 2.65 2.65 25,000 66,250 SHANG PROP STA LUCIA LAND 2.82 2.88 2.94 2.95 2.8 2.88 644,000 1,814,640 33.5 33.75 34.3 34.35 33.5 33.5 5,379,500 180,860,945 SM PRIME HLDG 3.75 3.92 3.8 3.92 3.75 3.92 6,000 22,720 VISTAMALLS SUNTRUST HOME 1.47 1.52 1.55 1.55 1.47 1.52 1,083,000 1,636,540 3.49 3.5 3.66 3.66 3.47 3.49 2,525,000 8,850,600 VISTA LAND

SERVICES ABS CBN 11.26 11.36 11.52 11.52 11.2 11.36 185,800 2,100,386 11.88 11.9 12.42 12.42 11.82 11.88 3,698,400 44,503,826 GMA NETWORK MANILA BULLETIN 0.4 0.425 0.42 0.42 0.4 0.4 2,590,000 1,043,400 9.84 10.48 9.84 9.84 9.84 9.84 200 1,968 MLA BRDCASTING GLOBE TELECOM 1,897 1,900 1,934 1,934 1,890 1,897 52,965 100,561,315 1,290 1,292 1,299 1,300 1,280 1,290 79,835 102,684,030 PLDT APOLLO GLOBAL 0.133 0.134 0.146 0.153 0.133 0.134 555,540,000 78,380,890 23.5 23.6 23.55 23.8 22.9 23.6 3,855,000 89,903,625 CONVERGE 3.9 3.98 4.25 4.25 3.88 3.9 468,000 1,863,820 DFNN INC DITO CME HLDG 7.74 7.75 8.02 8.02 7.73 7.74 8,707,800 68,330,435 1.51 1.55 1.52 1.52 1.52 1.52 5,000 7,600 IMPERIAL NOW CORP 2.2 2.22 2.27 2.33 2.22 2.22 1,451,000 3,257,850 0.41 0.415 0.43 0.43 0.405 0.41 17,940,000 7,466,700 TRANSPACIFIC BR PHILWEB 2.25 2.27 2.4 2.4 2.24 2.25 593,000 1,352,790 8.18 8.2 8.3 8.3 8.18 8.18 15,200 124,938 2GO GROUP ASIAN TERMINALS 14.3 14.38 14.38 14.38 14.36 14.38 44,400 638,454 CHELSEA 2.82 2.83 2.9 2.9 2.8 2.83 401,000 1,135,800 45.6 45.65 46.1 46.1 45.6 45.6 156,100 7,152,925 CEBU AIR INTL CONTAINER 156 157 159 161.8 155.2 157 681,650 107,282,354 17 17.84 16.62 17.86 16.62 17.84 312,800 5,584,482 LBC EXPRESS LORENZO SHIPPNG 0.98 1.07 0.98 0.98 0.98 0.98 2,000 1,960 4.62 4.66 4.68 4.74 4.6 4.66 668,000 3,111,540 MACROASIA METROALLIANCE A 1.98 2.02 1.97 2.02 1.95 2.02 206,000 403,990 1.13 1.14 1.15 1.15 1.1 1.13 342,000 383,850 HARBOR STAR 2.56 2.58 2.33 2.6 2.25 2.58 4,583,000 11,365,370 ACESITE HOTEL BOULEVARD HLDG 0.117 0.118 0.129 0.131 0.115 0.118 249,480,000 30,200,550 2.57 2.6 2.72 2.72 2.56 2.6 25,000 64,750 DISCOVERY WORLD WATERFRONT 0.55 0.56 0.55 0.55 0.54 0.55 2,090,000 1,144,630 565 620 565 565 565 565 40 22,600 FAR EASTERN U STI HLDG 0.35 0.36 0.37 0.37 0.35 0.36 14,100,000 5,204,850 5.27 5.45 5.4 5.5 5.4 5.5 10,700 57,970 BERJAYA 5.96 6 6.08 6.3 5.96 5.96 5,394,500 32,421,516 BLOOMBERRY PACIFIC ONLINE 2.02 2.09 2.02 2.09 2.02 2.09 40,000 82,200 1.55 1.59 1.55 1.61 1.54 1.59 718,000 1,151,690 LEISURE AND RES PH RESORTS GRP 1.72 1.73 1.78 1.78 1.72 1.73 1,020,000 1,767,140 0.415 0.42 0.42 0.42 0.41 0.42 2,380,000 984,800 PREMIUM LEISURE ALLHOME 7.64 7.65 7.85 7.85 7.59 7.64 3,346,200 25,783,697 1.32 1.33 1.35 1.36 1.32 1.33 627,000 837,740 METRO RETAIL PUREGOLD 38.75 39.5 38.1 39.5 38.05 39.5 844,900 32,751,375 ROBINSONS RTL 52.2 53.05 52.9 53.05 51.7 52.2 880,890 45,987,222 92.1 94 92 94 92 94 566,000 53,199,400 PHIL SEVEN CORP SSI GROUP 1.23 1.25 1.26 1.26 1.22 1.25 2,518,000 3,125,640 20.15 20.2 20.15 20.65 20.15 20.2 1,477,100 29,847,075 WILCON DEPOT APC GROUP 0.36 0.37 0.38 0.38 0.36 0.365 410,000 150,900 5.8 6 5.85 5.85 5.8 5.8 8,900 51,858 EASYCALL GOLDEN MV 436.8 448 448 448 437.8 448 750 335,694 6.25 6.48 6.25 6.26 6.25 6.25 2,400 15,016 IPM HLDG 1.36 1.37 1.5 1.54 1.36 1.37 28,367,000 40,838,910 PRMIERE HORIZON SBS PHIL CORP 4.25 4.5 4.54 4.6 4.23 4.5 535,000 2,277,620

-41,361,080 -1,436,015 12,960 13,200 163,000 1,319,310 392,950 -4,764,160 7,717,080 2,850.00 4,050 5,180 39,211 258,570 12,890 12,337,860 35,100 151,080.00 1,917,840 31,857,854 63,600 35,594,265 7,400 -700,310 -10,644,430 33,054,190 463,770 39,022,860 226,130 2,525,024 75,280 -82,800 -109,020 -271,782 17,040 -1,191,545 661,627 980 -85,670 -30,290 -951,980 7,800 359,700 -3,550 -11,326,430 46,780 16,400 25,535,465 -290,480 18,911,810 -2,167,314.50 47,940 -545,240 -3,878,400.00 4,352,720 -

MINING & OIL ATOK 7.26 7.38 7.51 7.51 7.25 7.38 26,800 197,054 -737 APEX MINING 1.56 1.59 1.63 1.63 1.57 1.57 2,312,000 3,671,790 127,820 5.67 5.69 5.86 5.88 5.61 5.67 523,400 3,022,262 -379,902 ATLAS MINING ALFM Peso Bond Fund, Inc. -a 372.45 1.43% 3.15% 2.43% 0.37% BENGUET A 4.85 5 5.02 5.32 4.73 4.85 862,900 4,229,551 4.82 5.19 5 5 4.91 4.91 18,700 92,060 12,500 BENGUET B ATRAM Corporate Bond Fund, Inc. -a 1.9233 -1.11% 0.96% 0.17% 1.21% COAL ASIA HLDG 0.295 0.305 0.295 0.295 0.295 0.295 10,000 2,950 Cocolife Fixed Income Fund, Inc. -a 3.2331 1.17% 3.68% 4.27% 0.57% 2.82 2.9 2.81 2.9 2.81 2.9 21,000 59,560 28,200 CENTURY PEAK 6.32 6.42 6.45 6.45 6.32 6.32 2,900 18,409 DIZON MINES Ekklesia Mutual Fund Inc. -a 2.2655 -1.69% 2.26% 1.29% -1.33% FERRONICKEL 2.44 2.45 2.52 2.52 2.42 2.44 1,701,000 4,152,040 635,920 0.3 0.31 0.305 0.31 0.3 0.3 430,000 129,950 GEOGRACE First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4424 -0.44% 3.29% 1.66% -0.44% LEPANTO A 0.146 0.147 0.152 0.155 0.145 0.147 41,930,000 6,221,180 0.153 0.155 0.158 0.158 0.153 0.153 3,150,000 491,550 LEPANTO B Philam Bond Fund, Inc. -a 4.4947 -3.41% 4.46% 1.19% -3.02% MANILA MINING A 0.01 0.011 0.011 0.011 0.01 0.01 22,700,000 229,200 Philam Managed Income Fund, Inc. -a,6 1.3167 1.1% 4% 2.68% -0.34% 0.011 0.012 0.011 0.012 0.011 0.012 25,900,000 290,300 MANILA MINING B MARCVENTURES 1.16 1.17 1.19 1.23 1.15 1.17 2,060,000 2,390,460 118,000 Philequity Peso Bond Fund, Inc. -a 3.9818 0.47% 4.5% 2.08% -0.48% NIHAO 1.27 1.32 1.36 1.36 1.27 1.27 276,000 355,080 5.39 5.4 5.48 5.54 5.35 5.4 7,719,800 41,855,625 12,902,018 NICKEL ASIA Soldivo Bond Fund, Inc. -a 1.0351 -0.36% 4.71% 1.48% -0.66% OMICO CORP 0.38 0.425 0.385 0.385 0.38 0.38 200,000 76,100 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2144 1.09% 5.33% 2.24% 0.26% 0.83 0.88 0.9 0.92 0.82 0.88 1,291,000 1,109,840 18,920 ORNTL PENINSULA PX MINING 6.03 6.04 6.06 6.1 6.02 6.03 1,638,500 9,890,994 -342,394 Sun Life Prosperity GS Fund, Inc. -a 1.7492 0.21% 4.62% 1.58% -0.33% 16.38 16.48 16.6 16.62 16.38 16.48 2,338,300 38,460,518 8,301,200 SEMIRARA MINING UNITED PARAGON 0.0089 0.009 0.0089 0.0091 0.0089 0.0089 26,000,000 232,000 Primarily invested in foreign currency securities 16.42 16.58 17.5 17.5 16.4 16.42 352,200 5,917,652 562,300 ACE ENEXOR ALFM Dollar Bond Fund, Inc. -a $486.72 2.36% 3.16% 2.16% 0.59% 0.011 0.012 0.011 0.012 0.011 0.012 36,900,000 431,000 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 400,000 4,800 ALFM Euro Bond Fund, Inc. -a Є220.2 2.02% 1.06% 0.93% 0.47% 0.011 0.012 0.011 0.012 0.011 0.012 24,200,000 266,300 PHILODRILL PXP ENERGY 7.15 7.17 7.1 7.15 7.08 7.15 110,700 786,506 - ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1992 -2.45% 2.47% 1.3% -6.34%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0% 1.85% 0.78% -1.88% PREFFERED HOUSE PREF B 100 101.7 100.5 100.5 100.5 100.5 10,000 1,005,000 PAMI Global Bond Fund, Inc -b $1.0546 -1.95% 0.63% -0.88% -3.49% 100.6 101 101 101 101 101 2,250 227,250 HOUSE PREF A ALCO PREF B 102.5 103.5 102.5 102.5 102.5 102.5 1,190 121,975 Philam Dollar Bond Fund, Inc. -a $2.5209 2.26% 5.17% 1.91% -0.58% 103.1 109.9 103.1 103.1 103.1 103.1 80 8,248 ALCO PREF C Philequity Dollar Income Fund Inc. -a $0.0630368 3.79% 3.58% 2.13% 1.15% CEB PREF 45.05 45.1 45.1 45.1 45 45.05 48,200 2,173,505 -207,275 101 101.5 101 101 101 101 14,700 1,484,700 DD PREF Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1921 -0.33% 3.43% 0.73% -0.98% FGEN PREF G 105 105.6 105.6 105.6 105.6 105.6 790 83,424 72,864 504 510 505 505.5 503.5 504 25,520 12,871,820 10,070 GLO PREF P Money Market Funds 1,000 1,010 995 1,000 995 1,000 2,435 2,434,975 GTCAP PREF A MWIDE PREF 101 101.2 101.2 101.2 100.9 101.2 1,990 201,100 Primarily invested in Peso securities 105 106.3 106 106.6 106 106.3 3,100 328,693 PNX PREF 3B ALFM Money Market Fund, Inc. -a 130.35 1.46% 3% 2.52% 0.42% PNX PREF 4 1,001 1,007 1,006 1,007 1,000 1,007 10,145 10,154,870 1,020 1,025 1,029 1,029 1,029 1,029 10 10,290 PCOR PREF 2B First Metro Save and Learn Money Market Fund, Inc. -a 1.0536 1.05% n.a. n.a.

0.52% PCOR PREF 3A 1,083 1,110 1,110 1,110 1,110 1,110 265 294,150 78.05 78.1 78.8 78.8 78.1 78.1 24,630 1,928,526.50 SMC PREF 2C 2.82% Sun Life Prosperity Money Market Fund, Inc. -a 1.3063 1.66% 2.55% 0.75% SMC PREF 2E 76 77.45 76.15 76.15 76 76 54,200 4,121,745.50 Primarily invested in foreign currency securities 78.6 78.8 78.8 78.8 78.8 78.8 15,740 1,240,312 SMC PREF 2F 76.5 76.9 76.9 76.9 76.5 76.5 37,000 2,834,890 SMC PREF 2H Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0579 1.14% 1.65% n.a.

0.52% SMC PREF 2J 75.7 76 76 76 75.7 75.7 22,150 1,682,620 76.45 76.5 76.45 76.45 76.45 76.45 31,000 2,369,950 -7,645 PREF 2K SMC Feeder Funds

Primarily invested in Peso securities PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11 11.34 11.34 11.34 11.34 11.34 100 1,134 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3189 31.19% n.a. n.a.

16.76% 11 11.1 11.5 12 10.9 11.1 739,200 8,229,768 -4,886,014 GMA HLDG PDR

Primarily invested in foreign currency securities WARRANTS WARRANT 1.46 1.49 1.35 1.54 1.35 1.49 1,527,000 2,256,130 - ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 5.32% n.a. n.a.

1.02% LR

SMALL & MEDIUM ENTERPRISES 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).

ALTUS PROP 16.58 17.06 17.2 17.2 16.58 16.58 63,000 1,057,680 424,100 2.24 2.26 2.27 2.27 2.22 2.25 252,000 565,440 202,210 ITALPINAS 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.

KEPWEALTH 4.84 5.2 5.2 5.2 5.2 5.2 100 520 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

2.51 2.69 2.53 2.57 2.53 2.57 5,000 12,690 MAKATI FINANCE MERRYMART 3.61 3.62 3.74 3.75 3.6 3.62 4,055,000 14,835,780 -56,220 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"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

FIRST METRO ETF 98.7 99.8 101 103 98.7 98.7 44,340 4,431,685 465,782 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."

Bond Funds Primarily invested in Peso securities

Envoys&Expats BusinessMirror

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PHL, France fortify ties, friendship on Bastille Day

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MBASSADOR Michèle Boccoz welcomed members of the Philippine government, the diplomatic corps and partners of the Embassy of France in an intimate reception which celebrated the French National Day on July 14.

In the presence of national government officials, Boccoz recalled France’s foreign-policy commitments in the international scene and highlighted the importance of her country’s strong political, economic, and cultural ties with the Philippines—particularly in view of the 75th Franco-Philippine diplomatic relations’ anniversary in 2022.

Given the current pandemic situation, this year’s local celebration of “Bastille Day” was organized in a “hybrid” format and with strict adherence to health and safety measures.

To reach a wider audience, official speeches of the French ambassador

and Secretary of Foreign Affairs Teodoro L. Locsin Jr. were streamed on social media.

In addition, 11 French restaurants in Metro Manila and Cebu welcomed both the French and Filipino public for a festive evening to celebrate “14 Juillet” as they offered wine-tasting activities and special menus: Brasserie Sagana, Café Fleur, Bistro Vincent by Dr. Wine, The Bistro by Element Boutique Hotel, L’Entrecôte Manila, L’Epicerie Gourmande, Metronome, Miréio at Raffles, Society Lounge, Spiral Manila by Sofitel Philippine Plaza, and La Vie Parisienne.

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ECRETARY Teodoro Locsin Jr., Secretary Ramon Lopez, Senator [Ana Theresia] Hontiveros, Senator Aquilino Pimentel III; ladies and gentlemen: Good evening, bonsoir à tous, magandang gabi sa inyong lahat!

It is really my great pleasure to be among you all today, as we commemorate the French National Day, which we call “14 Juillet,” or Bastille Day. Today in particular is an occasion to reflect on and uphold the democratic values of liberté, égalité, and fraternité which shaped [the French] nation, and which are also timeless and universal values that we share with the Philippines. While these values have guided France’s actions domestically and internationally, the...pandemic has put at the forefront another important value which I wish to emphasize today: This is solidarity.

The only way for us to truly overcome this global health crisis is to ensure that no country is left behind. This is why France, together with its EU partners, has been supporting international mechanisms such as the ACT-A [or Access to Covid-19 Tools Accelerator] and the COVAX Facility to ensure that all countries have access to the essential tools—especially vaccines—to combat

the spread of the [coronavirus disease 2019]. We are pleased that the Philippines is benefitting from these mechanisms in order to speed up its national vaccination program.

The solidarity between France and the Philippines has paved the way for greater collaboration, especially in recent years. In fact, we have a very exciting year ahead of us as we prepare for the 75th anniversary of diplomatic relations between our two countries; that would be next year, 2022.

Our work has already begun. [On] July 2 Trade Secretary Ramon Lopez and our Minister Delegate for Foreign Trade and Economic Attractiveness Franck Riester cochaired the ninth Joint Economic Committee meeting, which resulted in economic discussions and commitments covering a broad range of sectors such as transport, maritime cooperation, and agriculture.

France is also glad to count the Philippines as a partner in addressing global challenges, such as the fight against cli-

H

ER Excellency Michèle Boccoz, excellencies and members of the diplomatic corps, colleagues in government, distinguished guests, ladies and gentlemen: Good evening.

On behalf of the government of the Republic of the Philippines, I extend my heartfelt congratulations to the government and people of the French Republic on the occasion of the 232nd anniversary of Bastille Day. This year also marks the 74th anniversary of diplomatic relations between the Philippines and France.

Since 1947 our friendship remains, and cooperation has expanded and [encompassed] all areas of life, culture, and politics.

Despite challenges posed by the pandemic for the past year and a half, our bilateral-cooperation mechanisms have remained active through virtual platforms.

Two weeks ago we held our ninth Joint Economic Committee meeting. Earlier in the year, we convened online the mechanisms for science, technology, and tourism.

Before the end of the year, we need to hold the second political consultations between our foreign ministers, and come up with concrete projects in the areas of defense, agriculture, tourism, and space cooperation.

Next year we will celebrate 75 years of our diplomatic relations.

We look forward to collaborating with the French Embassy to mark this milestone with meaningful activities.

Working together for a secure cyberspace BUSINESS ENVOY

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LOCSIN and Boccoz EMBASSY OF FRANCE

mate change. The climate crisis requires urgent and concrete multilateral action to lessen greenhouse gas emissions, as well as to preserve the planet’s biodiversity. I take this occasion to reiterate France’s readiness to support the Philippines in building a more inclusive, sustainable and resilient future through projects in green transport, clean energy, and sustainability.

Another area of importance to both France and the Philippines is regional security. France fully supports a free and open Indo-Pacific founded on a stable, law-based, and multipolar order. As a permanent member and current president of the United Nations Security Council, France will do its part to ensure that international law, particularly the UNCLOS [United Nations Convention on the Law of the Sea], and the sovereignty of its regional partners, are respected.

France and the Philippines also share a historic attachment to the defense of human rights. Just a few weeks ago the French government was honored to have hosted the closing session of the Generation Equality Forum, which served as a venue for all stakeholders to come together and put forward swift, concrete and intergenerational actions in order to achieve true gender equality by 2030.

We hope to maintain our constant and constructive dialogue with the Philippines, particularly also including civil society, to ensure that human rights are upheld and respected.

It is also important to recognize the role of culture and education in bringing our two peoples closer together.

Cultural and educational cooperation are an important part of our work in the Philippines. And we look forward to once again be able to organize with our Filipino partners some of our most popular events:…the French Film Festival, the Fête de la Musique, and the monthly Cultural Thursdays.

Clearly, we have a full agenda in the coming months beyond the areas of cooperation which I just mentioned…. As we prepare for the 75th anniversary of French-Philippine diplomatic relations on June 26, 2022, I would like to invite you all to share any initiative or idea you may have which can contribute to the richness and the diversity of the ties between our two countries. In the coming months, we are ready to bring the friendship and solidarity between France and the Philippines to new heights for the mutual benefit of our peoples.

Thank you, maraming salamat, merci beaucoup, and I wish you all a pleasant evening. Vive la France et vive les Philippines!

‘Our friendship remains, cooperation has expanded’

By Secretary Teodoro L. Locsin Jr.

B3

Steven J. Robinson AO Ambassador of Australia to the Philippines

‘Shared values, solidarity shape our nations’

By Ambassador Michèle Boccoz

Thursday, July 22, 2021

Ambassador Boccoz, I recall meeting you shortly after you arrived in February, and you have hit the ground running to ensure that despite the pandemic, our relationship continues to grow. We assure the [Department of Foreign Affairs’] continued cooperation and partnership during your tour of duty in the Philippines.

As we celebrate Bastille Day in the pandemic, we are called to remember the spark that set the world on fire in 1789 when the people of

France became the citizens of the world fighting for every person’s liberty, equality, [as well as] the brotherhood and sisterhood of men and women.

Only a few events in history reverberated so fast that every corner of the world could hear La Marseillaise. In these dark times we can look to the French legacy of marching ahead with ineffable, sanguine spirit that will never be defeated.

Excellencies, ladies and gentlemen, please join me in a toast: To the continued prosperity of the French Republic and the well-being of its people, to the continued good health and success of Ambassador Boccoz, and to the enduring bounds of friendship between the Philippines and France.

In honor of Bastille Day, we say: Vive la France!

HE coronavirus disease 2019 (Covid-19) pandemic necessitated an unprecedented shift to online work and services in the Philippines and around the world. This demonstrated the potential for technology to support our way of life, but has increased our vulnerability to malicious behavior online.

As we strive to recover from this health crisis, we are witnessing ever more cyberattacks on individuals, governments, businesses and research institutions. Understanding the risks of our online and interconnected lives has never been more important.

To this end, the Australian Embassy, in partnership with the Department of Information and Communications Technology (DICT), recently hosted the “Cybersecurity in a Covid-19 Era” webinar, which brought together Australian and Filipino perspectives on cybersecurity challenges, and ways to address them. Almost 300 participants from across government, businesses and academia attended. The webinar was part of the Australian Embassy’s commemoration of our 75th anniversary of bilateral relations with the Philippines.

Along with our Asean partners such as the Philippines, Australia has a vision for a secure, free and prosperous Indo-Pacific. To advance that vision, in April 2021 the Australian government launched its International Cyber and Critical Technology Engagement Strategy, reflecting the importance of international cooperation in ensuring that cyberspace and critical technology contribute to our Indo-Pacific goals.

The strategy identifies critical technology as having the potential to significantly enhance or pose risks to Australia’s national interests, including prosperity, social cohesion or national security. Critical technology—including artificial intelligence, 5G and the Internet of Things—is increasingly part of our everyday lives.

I know our friends at DICT are currently mapping out the Philippines’s cybersecurity strategy for the coming years, and I wish them well in this endeavor. Australia is pleased to cooperate with DICT, the Department of Justice

and the Department of Foreign Affairs, along with many other Philippine government agencies, on cybersecurity, combating cybercrimes and promoting international security in cyberspace.

Cyber cooperation is a relatively new aspect of our bilateral cooperation, but an increasingly important one. Which brings me back to the Australian Embassy’s recent cyber webinar. This provided an opportunity for Australia’s Ambassador for Cyber Affairs and Critical Technology Tobias Feakin, along with representatives from DICT, PLDT Group and Australian academia, to share their perspectives.

Feakin discussed three pillars of Australian engagement to increase cyber resilience, while maximizing opportunities: Values—Australia will always pursue a values-based approach to cyberspace and critical technology, while opposing efforts to use technology to undermine those values.

Security—Australia will always support international peace and stability, as well as secure, trusted and resilient technology.

Prosperity—Australia will always advocate for cyber space and technology to foster sustainable economic growth and development to enhance prosperity.

More broadly, the panelists discussed increasing cyber threats to organizations and individuals, dealing with human mistakes as a key aspect of cyberattacks, as well as the need for businesses to invest in protecting business systems and customers. The speakers agreed that cybersecurity requires a national approach, cognizant of the needs of government, businesses and individuals, with strong emphasis on education and nurturing a culture of cybersecurity.

While I am sure the webinar provided attendees with much food for thought in their approach to cyber security in their homes and organizations, clearly there is much more to discuss. I am deeply encouraged by the widespread interest in this new area of cooperation between our two countries, which directly supports and protects Australian and Filipinos alike.

PHL, India joint committee convenes to boost sci-tech

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HE first Joint Committee Meeting (JCM) between the Philippines’s and India’s departments of science and technology (S&T) was conducted on July 8 as part of the dynamic and multidimensional partnership between the two countries.

The JCM was held to expedite implementation of the bilateral Programme of Cooperation (POC) in S&T for 2019 until 2022, which was signed in October 2019 during the state visit to the Philippines of the president of India.

The JCM was cochaired by India’s Department of Science and Technology Adviser and Head on International Cooperation S. K. Varshney and the Department of Science and Technology’s (DOST) Rowena Cristina L. Guevara, who is undersecretary for Research and Development (R&D).

More than 40 scientists, academicians and researchers from leading institutions of both countries attended the meeting: the Indian Institute of Technology, Indian Institute of Science, Centre for Development of Advanced Computing, Department of Biotechnology, Indian Council of Agricultural Research from India, as well as DOST-Philippine Atmospheric, Geophysical and Astronomical Services Administration or PAGASA, DOST-Advanced Science and Technology Institute or ASTI, DOSTPhilippine Council for Agriculture,

Aquatic and Natural Resources Research and Development or PCAARRD, as well as similar entities.

In his keynote, Ambassador of India to Philippines Shambhu S. Kumaran said that S&T-based solutions are at the center of contemporary living, especially in the context of the pandemic: “Therefore, S&T cooperation needs to be one of the most important components of our dynamic bilateral partnership.”

Kumaran pointed out the importance of building knowledge partnerships between the leading research and development institutions of both countries as a key pathway for bilateral engagement.

For his part, Ambassador of the Philippines to India Ramon S. Bagatsing Jr. appreciated the constructive role being played by Indian information technology-business-process management industry, or IT-BPM, in the Philippines as one of the largest earners for the domestic economy, as well as among the major foreign employers locally. He highlighted the potential for deeper engagement in the information and communications technology (ICT) sector.

Bagatsing drew the attention of DOST to take a serious look at Indian capacities in S&T and encourage participation of Filipino research scholars under the various cooperation initiatives, including the Asean-India Doctorate Program.

Agriculture/Commodities BusinessMirror

A4 B4 Thursday, July 22, 2021 • Editor: Jennifer A. Ng

Govt banks on ₧300-M agri-biz corridor to address food prices

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE government has broken ground for the construction of the P300-million agri-business industrial corridor (Abic) in Taguig City, a 10-year project that seeks to provide Metro Manila consumers with “reasonably-priced food” through modern infrastructure and facilities.

The corridor, which will host a freshwater aquaculture park and an urban farming project, is the second of its kind to be established by the government spearheaded by the Department of Agriculture (DA).

Government tapped the Bayanihan 2 fund to finance the construction of the project.

The corridor will be built in partnership with the local government of Taguig and the Laguna Lake Development Authority (LLDA).

Agriculture Secretary William D. Dar said during the project’s groundbreaking ceremony last July 20 his agency is “privileged” to partner with the LLDA and City of Taguig for the project. Dar said the “adequate and reasonably-priced food” would include bangus, tilapia,

mushrooms and vegetables.”

The Taguig corridor follows the first in New Clark City where the National Seed Technology Park will rise in partnership with the Bases Conversion and Development Authority (BCDA), according to Dar. The agriculture chief said the Abic and Food Terminal Inc. in Taguig are envisioned to be part of the agri-industrial and food market hub that will serve the southeast quadrant of Metro Manila.

Under the joint project, the LLDA will provide two hectares of land along C-6, where several facilities will be constructed, and an adjacent 15-hectare lakeshore area, where the aquaculture park will be developed and opened to cooperatives

and private enterprises, according to the DA. According to the DA, four attached agencies will be engaged in the Taguig corridor: the Bureau of Fisheries and Aquatic Resources (BFAR); the Philippine Fisheries Development Authority (PFDA); the Bureau of Plant Industry; and, the Bureau of Soils and Water Management (BSWM).

The DA said the BFAR will provide the technical assistance and inputs, including bangus, tilapia, shrimp and ayungin fingerlings for the floating fish cages that would be installed at the 15-hectare aquaculture park.

The cages will be maintained by the city fishermen and members of the City Fisheries and Aquatic Resources Management Council (CFARMC), according to the DA. The farm regulatory agency added the PFDA will construct a fish landing wharf or jetty, a warehouse and a cold-storage facility.

For its part, the BPI will spearhead the mushroom button production facility and an integrated commercial bamboo project while the BSWM will establish a water hyacinth composting facility to support urban farming and a bamboo oxygen park to promote sustainable production and outdoor recreation.

“The DA-BFAR will also establish a satellite office in the project

site to provide technical assistance, conduct training, and help organize and cluster existing fisherfolk organizations,” the DA said in a statement on Wednesday.

“The agency is also tasked to monitor and evaluate the project, provide technical support in the zoning delineation and demarcation of the aquaculture park, and conduct a regular water quality assessment,” the DA added.

Once all the facilities are constructed, the Taguig City government will be the one managing and maintaining the Abic, including funding its operation for the whole duration of the project, according to the DA. “It will also provide necessary funding, equipment and manpower for the development of the access road from the highway to the site,” it said.

“It will also construct three facilities in the area, particularly the agriculture, lake and river management, and environment and natural resources offices,” it added.

According to the DA, Taguig City Mayor Lino Edgardo S. Cayetano “gave his full support and commitment” for the project’s completion “as the Abic complements” the firstclass highly urbanized city’s longterm goals of “sustainability and improved quality of life for their constituents, particularly farmers and fishers.”

www.businessmirror.com.ph

Demand for plant-based meat rising amid ASF, avian flu–BOI

By Tyrone Jasper C. Piad @TyronePiad

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HE Board of Investment (BOI) is bullish on the prospects of plant-based meat products given that demand is seen to be rising.

BOI Executive Director Maria Corazon Halili-Dichosa said in a statement on Wednesday that consumers are looking for meat alternatives amid concerns over African swine fever and avian flu.

“The market is attractive now more than ever as there has been a conscious ‘movement’ by the consumers to make more informed choices on the type of food they should be eating,” Halili-Dichosa said. “Plant-based meat consumption has already been rising even prior to the Covid-19 pandemic; but the recent increase in demand is too dramatic to be ignored by both the government and the business community.”

Plant-based food usually comprises vegetables, fruits, whole grains, nuts, seeds or legumes.

The BOI, an attached agency of the Department of Trade and Industry (DTI), said it is working with local researchers, start-ups and other industry partners in this food segment.

It said that the growing market for meat alternatives signals a “major transformation” in food production and consumption.

Last year, the BOI noted that the global plant-based meat alternative market was valued around $8 billion.

Barclays expect that value to increase up to $140 billion by 2029.

BFAR inaugurates office housing all frontline, support services

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HE Department of Agriculture’s Bureau of Fisheries and Aquatic Resources (DA-BFAR) is gradually moving its Central Office into one of the buildings in the Fisheries Building Complex—the agency’s newly constructed headquarters that will soon house all of its frontline and support services.

BFAR’s new headquarters, which now stands inside the Bureau of Plant Industry Compound in Barangay Vasra, Visayas Avenue, is a couple of meters away from the Philippine Coconut Authority, the agency’s home for many years.

“Whatever is part of this ecosystem in the [BFAR] facility is giving you the best environment to really work harder and harder and harder.

I know that the men and women of the [BFAR] are very dedicated, hardworking and really can produce results,” Agriculture Secretary William D. Dar said during the building’s inauguration on July 21, 2021. “We just have to continue to have good focus on the things that we have to do and thing that we must do because that would bring BFAR to the high level of growth development.”

Dar added that while developing the fisheries sector remains a challenge, the sector’s contribution can become much higher if

THIS photo courtesy of the Department of Agriculture (DA) shows Agriculture Secretary William D. Dar speaking during the inauguration of the DA’s Bureau of Fisheries and Aquatic Resources (DA-BFAR) on July 21.

its potential is unleashed through relevant programs and projects.

DA-BFAR’s more spacious premises will accommodate more clients and increase their satisfaction by promoting one-stop in all fisheriesrelated services. At present, sev-

A PRIEST leads rites during the inauguration of the DA’s Bureau of Fisheries and Aquatic Resources (DABFAR) on July 21.

eral of BFAR’s divisions and units are already occupying some of the spaces in the new building while a few more including some of its support and frontline services such as fisheries regulatory and licensing, inspection and quarantine will follow suit in the coming months.

Upon completion of the other buildings which make up the Fisheries Complex, BFAR’s fisheries laboratory services will also relocate in the area. For now, the laboratory services will stay in their current location at Arcadia Building along Quezon Avenue.

Due to the ongoing threat of the Covid-19 pandemic, BFAR encourages distant processing of fisheries requirements but clients and the general public who will visit BFAR’s offices are assured that basic health protocols and standards are practiced inside the premises.

The Fisheries Complex, a project that broke ground in 2012, will also house the National Fisheries Research and Development Institute, BFAR’s primary research arm. With these two key government agencies on fisheries under the Department of Agriculture now built within the same area, improved operational efficiency that would benefit the fisheries sector is expected from the said offices.

Wild weather in world’s biggest coffee exporter perks up prices

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HE world’s biggest coffee exporter is facing some of the coldest weather in more than 25 years, dimming hopes for the harvest and threatening to raise prices for the popular beverage.

Temperatures in Brazil’s coffee-growing regions fell below zero Celsius (32 Fahrenheit) for hours on Tuesday, with southern Minas Gerais the coldest since 1994, according to Rural Clima.

The freeze is forecast to continue in the southernmost part of the country Wednesday while another cold front is expected for July 29.

Futures in New York jumped as much as 7.7 percent to the highest since 2016.

The frost is dealing growers a sec-

ond blow after a severe drought left fields parched and depleted water reservoirs needed for irrigation. On top of that, the drought may worsen, with forecasts for a likely return of La Nina weather patterns that delay rainfall in the region. The series of misfortunes may leave consumers paying higher prices at cafes and at the supermarkets.

Francisco Cesar Di Giacomo, a farmer in Sao Goncalo do Sapucai in Minas Gerais, said frost affected about 60 percent of his plantings.

“In some areas of the farm, it burnt all the crop,” Di Giacomo said by text message.

Frost may burn leaves and branches on trees, reducing the outlook for 2022 and dashing hopes

for a bumper crop that would replenish stockpiles. That’s especially significant because coffee trees are on a two-year cycle and are set to produce more next season.

Little cushion

MANY fields were already pruned last year to produce in 2022, and now will have their potential output reduced, said Regis Ricco, a director at RR Consultoria Rural. After the drought and frosts, next year may be the worst high-yield cycle in decades, he said.

The last two frosts are jeopardizing between 1 million to 2 million bags from Brazil’s 2022-23 crop, according to a survey conducted of exporters and agronomists by Minas

Gerais-based Cazarini Trading.

A drought earlier this year slashed production of arabicas, the type of bean favored by Starbucks Corp.

In northern areas of Sao Paulo and Triangulo Mineiro, in Minas, soil moisture is around 20 percent, way below the 60 percent needed for crop development, according to Rural Clima. There are also signs of lower productivity this season as well for Brazil’s robusta beans, used by companies such as Nestle SA in its Nescafe instant brands that are in higher demand during the pandemic.

The odds for La Nina’s return at 45 percent between August and October, 55 percent from September to November and 62 percent from October to December, according to

the US Climate Prediction Center.

There’s little cushion—the US Department of Agriculture sees inventories in Brazil ending the season at the lowest level in data going back to 1960 and US green-coffee stockpiles are down 18 percent from a year ago.

Shipping delays

WITH all the upheaval, a La Nina’s return “would likely inject new impetus to prices,” Hernando de la Roche, senior vice president for StoneX Financial Inc., said.

The weather woes add to shipping delays from Colombia due to political unrest and soaring freight rates that have made it more expensive for traders to move beans around the world. Bloomberg News

The agency providing incentives to investors said that the plant-based market for Asia Pacific is expected to generate revenues of $30 billion at a compound annual growth rate of 18.9 percent.

Given the bullish prospects for the product, the DTI-Export Marketing Bureau encourages exporters to throw their hat in the ring.

“Promoting Philippine-made plant-based products requires a whole-of-government approach,” DTI Undersecretary Abdulgani Macatoman earlier said. Macatoman, who heads the Office of Special Concerns of the DTI, added theywill work with the agriculture department to maintain an adequate supply, “while also working with our foreign trade posts to secure buyers of our products.”

The DTI seeks to secure market access into the plant-based meat exports industry, especially as the Philippines is hopeful of successfully securing a seat in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to Trade Undersecretary Ceferino S. Rodolfo.

Rodolfo earlier disclosed that in February, the Philippines officially expressed to New Zealand, the depository country of the CPTPP, of its interest in joining the megatrade pact.

The CPTPP is a free trade agreement among Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam signed on March 8, 2018, in Santiago, Chile.

NIA completes rehab of Pampanga system

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HE National Irrigation Administration (NIA) said it has completed the rehabilitation of the Porac-Gumain River Irrigation System (PGRIS) in Pampanga.

In a statement, the NIA said the rehabilitated PGRIS under the National Irrigation Sector Rehabilitation and Improvement Project (Nisrip) is funded through a grant from Japan International Cooperation Agency (Jica) amounting to P171.973 million.

The agency said the project will provide “timely and reliable” irrigation service to 3,249.95 hectares of agricultural land in the Municipalities of Lubao, Floridablanca, Guagua and Sta. Rita in Pampanga.

“The project will benefit 4,045 farmers and their families,” the NIA said.

The rehabilitation works of PoracGumain RIS involved the following: replacement of the falling shutter and provision of trash rack at intake in Porac Dam; replacement of sluicegate with rubber seal in Solib Dam; 10.045-kilometer concrete canal lining; and, improvement of 20 check gates and eight irrigators’ association offices with three support facilities.

The implementation of this project was carried out by Nisrip.

The program is headed by Project Manager Silvino C. Navarro, NIA Region III headed by Regional Manager Josephine B. Salazar and the Pampanga-Bataan Irrigation Management Office.

T he Porac- Gu m a i n R I S i s scheduled to hold its inauguration on Thursday to be attended by NIA officials led by Administrator Ricardo R. Visaya, Ambassador Koshikawa Kazuhiko of the Embassy of Japan, representatives of Jica headed by Chief Representative Azukiwa, Pampanga’s provincial and local government officials and the project beneficiaries as represented by its irrigators’ association officials.

Visaya said the agency remains committed to its mandate of providing reliable and sustainable irrigation services to our farmers through the construction of irrigation projects and rehabilitation of existing irrigation systems.

Parentlife BusinessMirror

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Editor: Gerard S. Ramos

• Thursday, July 22, 2021

B5

Books and activities I am doing for my self mid-year review: (from left) reading Eat Move Sleep by Tom Rath; reflecting with art like my recent work; reading Chatter by Ethan Kross.

Teens with secure family relationships ‘pay it forward’ with empathy for friends TEENS with more secure family relationships get a head start on developing empathy, according to my colleagues’ and my new study tracking adolescents into adulthood.

In contrast to popular myths about self-obsessed teens, existing research shows that adolescence is a key stage of development for the growth of empathy: the ability to stand in someone else’s shoes, to understand and resonate with their emotions, and to care about their well-being. Empathy is a skill that develops over time, and it has major consequences for teens’ social interactions, friendships and adult relationships.

So how do teens learn this critical skill?

Our team’s new findings, published on July 15, 2021, in the journal Child Development, suggest that teens who have secure, supportive family relationships provide more empathetic support to their friends.

Imagine yourself as a teenager with someone in your life who understands your struggles, offers help and makes you feel supported and connected—that’s what empathetic support is all about.

Our study, led by professor of psychology Joseph P. Allen, followed 184 adolescents from their early teens into adulthood. When teens were 14 years old, we interviewed them about their family experiences and their relationships with their parents.

The interviews were designed to measure attachment security—teens’ confidence that they can explore and build autonomy while trusting others to provide connection, safety and support when they need it. Past research shows that experiences of receiving sensitive care from adult caregivers, especially in times of stress, build secure attachment.

In each interview, we rated teens as secure if they expressed that they valued their family relationships and described them in a balanced, clear way.

Then we videotaped the teens at ages 16, 17 and 18, while they helped their closest friend talk through problems they were facing. From these videos, we quantified how much support friends sought from the teens we interviewed—for example, by asking for their opinion on a situation. To measure how much empathetic support the teens provided, we looked for four types of behaviors: showing understanding, helping friends solve their problems, providing emotional validation and actively engaging in conversations.

We found that teens who were more secure in their family relationships at age 14 provided more empathetic support to their friends in early adolescence and showed consistently high empathy over time. Teens who were less secure showed lower levels of empathy at first but improved this skill over time and nearly caught up to more secure teens by age 18. This finding suggests that teens naturally gain empathetic skills as they get older, but those with more secure family relationships may get there faster.

What is especially interesting is that teens’ friends were more likely to seek out support from secure teens, and friends who sought more help were more likely to receive it. Thus, friendships provide a key context for adolescents to practice giving and receiving empathetic support.

Teens who are more empathetic are less aggressive, exhibit less prejudice and are less likely to bully others. Our research suggests that empathy starts with feeling safe and connected. Building secure relationships, characterized by trust, emotional safety and responsiveness, can give teens a firsthand experience of empathy. With this foundation in place, they can then share that empathy with others.

THE CONVERSATION

Our self mid-year review A

LL companies do mid-year reviews to assess their current performance, so they can plan for the months to come.

This lingering pandemic situation in the Philippines continuous to have various effects on each individual, family and community. One of the most difficult aspects to this is that the horizon remains unclear when conditions would stabilize.

I have heard from a few people that this time is a “forced reset” to the whole of humanity. Aside from forcibly slowing down our pace with all the lockdowns, I believe it also allowed us to see how emotionally resilient we are as a person. We all face the hard truth that nothing can really be in our full control except our own “personhood.” I thought it would be good that as July comes to an end, we take this opportunity to conduct our own self mid-year review. Let me share more information and some tools I have discovered about pursuing one’s “wellbeing.”

Susie Ellis, chairman of the Global Wellness Institute, writes in an article for the Huffington Post: “Wellness is an active process of increasing awareness and actively making choices toward a healthy and fulfilling life.... Wellness is multidimensional,

encompassing emotional, environmental, financial, intellectual, occupational, physical, social and spiritual wellness. One of the leading resources on global health, the World Health Organization defines wellness as a state of complete physical, mental and social well-being and not merely the absence of disease and infirmity.... Today, all dimensions of wellness are interrelated and crucial to a fulfilling life.”

Personally, and in succession, I constantly align and work on these four areas: n MY HEART. This involves one’s emotional state.

I believe this is the most important aspect because it drives us to not sink, not just swim, but push ourselves toward a meaningful goal, regardless of the unknown future like what we are facing today. It is also the hardest because there is really no known formula customized for you. Art has helped me a lot to express my anxiety. When I feel that thud, I would just grab any coloring material, draw out something random; then I would express my feelings further by putting a title to the piece or composing a short poem to express both my fear and my hope. One example is the artwork featured here. n MY BODY. This involves one’s physical health.

This is very challenging for me because I am not very conscious about this aspect of my life. I found the book of Tom Rath, Eat Move Sleep, very practical and more sustaining. It discusses simple decisions one can make to eat healthier, exercise regularly and sleep more. I like how he challenges us with a simple question that every time we eat or drink something, will it bring a net gain or a net loss to our body? In the aspect of exercise, it is encouraging to read that research has shown that 15 minutes of exercise daily can add up to three years to your life expectancy. I also liked knowing that exercising in the morning actually

guarantees a 12-hour mood boost afterward.

It is good that this book focused also on sleep because most people prefer to work through the evenings. According to the author, losing 90 minutes of sleep at night reduces alertness during the day by almost one-third. It further states that lack of sleep has negative effects like increasing the risk of heart disease, stroke, and for us to catch a cold because sleep affects our immune system. I will try to follow the book’s advice to not snooze my alarm in the morning.

Instead, it advises to set the alarm at the right time and get out of bed immediately. I will try to make a one-hour ritual and avoid any food intake or any digital activity one hour before going to sleep. n MY CRAFT. This involves my activities of output or productivity. This can be my work, financial goals, or even tasks at home. This pandemic has been a great disruption to our routines, as well as our regular output. This may make us question at times if we should even try to do anything. I am starting to read this book, Chatter, recommended by one of my daughter’s good friends from the University of the Philippines, Sandro Sia. The author is Ethan Kross, an award-winning psychologist. He guides us to harness the power of our inner voice to live a more productive life. n MY CIRCLE. This involves my relationships with my family, my support group of friends, and the community I live in. In the past, there would always be an occasion to see them. It would be good to make a list of “Your People,” who you would like to touch base with at a given period, then put these in your calendar.

It is a reality that our situation is not likely to normalize any time soon, but I believe if we carve out some time to do a self-review and plot intentional acts to focus on our well-being, it can only bring us the upside of a better and more empowered us. n

❶ PokÉmon

fans enjoyed these signature styles in celebration of Pokémon’s 25th anniversary only available at Levis.

❷ These kawaii

(cute) Japanese plushies are available on Miniso

❶

❷

THE Animezing North exhibit featured life-size anime collectibles, Japanese food favorites and the latest Japanese fashion collaborations that delighted anime and manga lovers.

‘Animezing’ north of the metro Mallgoers recently had a glimpse of Japanese pop culture through life-size anime toy collections, food and delicacies, and fashion featured in the “Animezing North” exhibit in SM City North Edsa.

A joint project of the country’s renowned toy collector Yexel Sebastian and SM City North Edsa, the event transformed The Block Atrium into an anime world, featuring Yexel’s life-size toy collection of the all-time anime favorite One Piece characters Monkey D. Luffy and Pirate Hunter Zoro and other Pokémon characters. The exhibit also featured anime collectibles, as well as fun finds from Filbar’s, Skechers, Miniso and Levi’s.

Shang works with City of Mandaluyong to vax mall work force Shangri-La Plaza has been working with the City of Mandaluyong to vaccinate all mall employees, including the staff of tenants and partners, to reach 100 percent vaccination and ensure safer shopping experiences for mall guests.

Mayor Carmelita “Menchie” Abalos recently visited the Edsa Shangri-La Hotel Vaccination Site for MandaVax, where Shangri-La Plaza employees and frontline personnel received the first dose of the vaccine. According to Shang Properties Inc. EVP Joy R. Polloso, “Shangri-La Plaza has been working closely with the City of Mandaluyong to reach our goal of 100 percent vaccination for the mall’s entire work force, both our own employees and the employees of our tenants. This is all to ensure that we protect everyone working at the mall against Covid-19, and provide a safer mall experience for our Shang community.” In photo are Shangri-La Plaza tenant management division manager Hazel del Castillo (from left), head of the tenant management division CJ Jesena, Shang Properties executive vice president for retail Joy Polloso, Mandaluyong Mayor Menchie Abalos, Edsa Shangri-La Manila general manager Marco Vazzoler, Edsa Shang resident manager Chi Ofiana, director of human resources Alvin Francisco, and area director of security for Shangri-La Hotels & Resorts Adrian Picar.

B6 Thursday, July 22, 2021

DSWD celebrates 10th year of livelihood program

Toyota PH launches the GR Yaris; on sale nationwide starting August 14

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REATNESS is finally here.

Born from the World Rally Championships and Toyota CEO Akio Toyoda’s passion to develop The Toyota Sports Car, the GR Yaris is built from the ground up to surpass standards in building ever-better cars. TOYOTA GAZOO Racing (TGR), Toyota’s performance development arm specializing in motorsports and development of ever-better cars, combined motorsports technology and design to develop the GR Yaris as a pure performance vehicle and a heart-racing daily driver.

The GR Yaris was built first as a motorsports vehicle then developed as a road vehicle. It comes in 6-speed manual transmission and is powered by a G16E-GTS 3-cylinder inline DOHC 4-valve roller rocker engine hailed as the

“world’s best” inline 3. The unique GRFour 4-wheel drive system makes the GR Yaris competitive and rally-ready in any condition. The Philippine-spec GR Yaris comes with the High Performance/ Circuit Package as standard.

The exterior features of the GR Yaris contribute not just to its looks but also to its performance. From the Carbon Fiber Roof to the 18” BBS Forged Alloy Wheels, the GR Yaris is made light and durable while complementing the model’s sleek, sporty appearance. The vehicle’s front to back look is equally as sporty with the 3-tier LED headlamps accentuated

by Daytime Running lights, and the LED rear combination lamps matching the strong front profile.

Get right to the exhilarating driving experience with quick ingress features (Smart Entry and Push Start System)

and be welcomed by the race-ready feeling of suede and synthetic leather seats. Take perfect control of any drive with multiple drive modes available (Normal, Sport, and Track) and set the mood with a heart-racing playlist through the audio system with Apple Carplay and Android Auto compatibility.

With the rally-ready excitement comes the utmost need for safety.

The GR Yaris is equipped with Toyota Safety Sense features (Pre-Collision System, Automatic High Beam, Lane Trace Assist, Adaptive Cruise Control) which aids the driver in identifying and eliminating factors that may cause accidents. A standard for Toyota vehicles, the GR Yaris also comes with 6 SRS airbags, Anti-lock Brake System, Vehicle Stability Control, and Hill-start Assist Control. Its Front and Rear Torsen Limited Slip Differential provides increased traction and improved stability for the vehicle.

The GR Yaris retails at Php2.65M for the 1.6L Turbo MT variant in 3 colors: Super White II, Emotional Red, and Precious Black. It will be available in Toyota’s 16 GR Performance dealers nationwide starting August 14, 2021.

Find out more about the GR Yaris by visiting toyota.com.ph/ gryarisiscoming Check out TMP’s official pages – Toyota Motor Philippines and TOYOTA GAZOO Racing PH on Facebook and Instagram, official website, and Twitter for exciting Toyota news and updates.

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HE Department of Social Welfare and Development (DSWD)’s Sustainable Livelihood Program (SLP) will commemorate its 10th year of facilitating livelihood opportunities to poor, vulnerable, and marginalized Filipino families today, July 7, 2021.

With the theme, “Isang Dekada ng PagSibol,” the celebration will highlight SLP’s milestones as a capability-building program that improves the level of well-being of its beneficiary participants.

The online anniversary event will commence with a video showcasing the decade-long accomplishments of the program, including its successes under its former name, the Self-Employment Assistance - Kaunlaran (SEA-K) Program.

The SLP was formally adopted as the enhanced version of the SEA-K Program on June 28, 2011 by virtue of Administrative Order No. 11, S. 2011 or the Guidelines on the Implementation of Sustainable Livelihood Program was signed.

Likewise, the SLP will also recognize Top Performing DSWD Field Offices as to Fund Utilization for 2020. Among the categories that will be awarded are: Gawad Sibol for NonMega Category and Mega Category; Gawad Sibol Overall Best Implementer; Gawad Usbong Second Overall Best Implementer; and, Best Implementer for SLP Regular.

Meanwhile the program will launch the

SLP, Padayon Graduation Approach which will target pilot Regions VI, X, and XII. It aims to gather evidence-based information on how to advance the delivery of SLP interventions towards ensuring improved socio-economic conditions of its program participants.

Another highlight of the activity is the virtual gallery which will showcase the different products made by SLP participants around the country such as handwoven bags and baskets, indigenous handicrafts, locallymade ground coffee, and dried food products.

The program will also launch the PUNLA: SLP e-Learning which will promote the use of asynchronous learning development methodologies and mechanisms to stimulate awareness, knowledge, skills, and support competency building and capability enhancements regarding SLP process and stages, SLP Gender and Development, and other thematic learning areas, among others.

Through the SLP, the Department hopes to reach more milestones by improving the capabilities and enhancing the livelihood assets of poor and marginalized individuals, families, and communities around the country, in coordination with partner local government units and private entities.

JAZA hosts BPI’s ‘After Six’ interview series

J

AIME Augusto Zobel de Ayala turns the tables as he sits down with today’s most sought-after local change-makers in After Six — a miniseries by the Bank of the Philippines Islands (BPI).

“At After Six, we leave our desks for a more casual spot to hear from some of the country’s change-makers – on what drives them, as well as what they do to recharge and stay inspired.

We learn about how BPI enables them as they work to build a better Philippines”, said JAZA. The first episode of After Six features Brian Cu, a change-maker in the tech and transportation sector — best known for his leadership role as part of the founding teams of several game-changing businesses — such as GoJek, Zalora Philippines, and Grab Philippines. In the feature, Brian shares more about how he plans to add value to the Philippines’ jeepney sector.

“After Six is a celebration of the entrepreneurial spirit that connects many of our BPI Preferred clients. It’s a peek behind the curtain to discover what makes them tick, their diverse interests,

and why after six is really when the fun begins”, said Mariana Zobel de Ayala, BPI Deputy Head of Marketing.

After Six aims to further strengthen the bank's relationship with its Preferred clients by building a like-minded community; enabling Filipino trailblazers

and entrepreneurs who are changing the game in their respective fields and building a better Philippines.

The show may be viewed on the BPI Preferred website https://www.bpi.com. ph/preferred and the BPI YouTube channel (https://l.bpi.com.ph/AfterSix).

CMC acquires P23.5M emergency-response vehicles for community use at Dinagat Islands

A JAIME Augusto Zobel de Ayala (seated left) interviews Brian Cu during the first episode of After Six. Cu is a change-maker in the tech and transportation sector.

UN Climate Fund body taps DBP for environment, climate mitigation and adaptation financing

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TATE-OWNED Development Bank of the Philippines (DBP) has secured the accreditation of a United Nations-backed institution that provides financing support for environment and climate-related programs and advocacies in line with the Paris Agreement and Kyoto Protocol, a top official said.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said DBP is only the second Philippine institution, and one of 10 foreign institutions, approved recently as Accredited Entities (AE) of the Green Climate Fund (GCF), an international fund created by the United Nations Framework Convention on Climate Change (UNFCCC) to support climate mitigation and adaptation initiatives in developing countries.

DBP is the sixth largest bank in the

DFA TEMPORARY PASSPORT SERVICE AT SM MALLS. The Department of Foreign Affairs (DFA) recently opened a Temporary Offsite Passport Service (TOPS) at three SM Malls – the SM Mall of Asia, SM City North EDSA, and SM Aura Premier – to address the shortage of available passport application schedules due to the pandemic. DFA Secretary Teodoro Locsin (third from left) led the launch at the SM Mall of Asia together with (from left) DFA Undersecretary for Special Concerns and Consular Affairs Brigido Dulay; SM Supermalls President Steven Tan; and Michael Dalumpines, Chairman and President, APO. Appointment slots for all these TOPS locations are available and open to the public through the DFA’s online appointment system (www.passport.gov.ph).

country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

The GCF was created in 2010 by the UNFCCC, along with 194 governments, to provide financing and technical support to developing countries to shift to low-emission and climate resilient development while helping vulnerable societies adapt to the inevitable impacts of climate change.

Under the mechanism, the GCF may be tapped by AEs and delivery partners, which work directly with developing countries for project design and implementation. GCF provides financial support through a

combination of grants, concessional debt, guarantees or equity instruments to leverage blended finance and crowdin private investment for climate action in developing countries.

Herbosa said that DBP is one of only 113 accredited AEs globally, 57 of which are national agencies, which would allow the bank to channel support of up to US$250-million per project or program.

“We envision GCF as an additional source of highly-concessional loans or even grants to expand the reach and to scale up DBP's environmental and climate-related programs and advocacies,” Herbosa said. “This includes complementing the programs of other government and nongovernment agencies in line with the “Build Back Better” strategy and “wholeof-government”approach.

CKNOWLEDGING the importance of reliable transportation during emergency, especially at this time of Covid-19 pandemic, Cagdianao Mining Corp. (CMC), a subsidiary of Nickel Asia Corp. (NAC), acquires transportation units worth P19.8M and an ambulance unit worth P3.7M to improve the mining company’s emergency response and logistics capability in serving its employees and the residents of the communities.

The brand new ambulance that transports patients to and from the district hospitals in Dinagat Islands is an added ‘peace of mind’ for the residents.

“One critical aspect in a health crisis is a reliable transport system that will move patients as efficiently as possible to get immediate medical attention. Our barangay health workers would first refer patients to the CMC clinic and if needing major administration, they will then be ferried to the nearest hospital,” explains Dr. Alvin Pura, CMC physician.

Teodoro Alipayo, who is in-charge of the Incident Command Post of the Municipality of Cagdianao, notes that CMC’s response vehicles serve not just the emergency calls from the residents but also attend to locally stranded individuals who need to be picked up from the San Jose port and to be transported

to their respective quarantine areas.

Engr. Arnilo C. Milaor, CMC Resident Mine Manager, underscores the importance of having available and efficient emergency-response vehicles that the communities can rely on.

“These vehicles help save lives because these vehicles allow us to immediately respond to emergency situations and assist us in our goal of always protecting the residents of our host communities,” says Milaor.

Also part of CMC’s emergency-response fleet are two units of 40-seater mini buses which costs PHP 9.8-million that can ferry employees and community residents to any point in Dinagat Islands.

These mini-buses regularly transport personnel going to work and when returning from their field break. Barangay officials also use these buses for government-related events and activities around the island.

Another essential transport at CMC is the “CMC Seaborne Barracuda,” – a P10Million watercraft which ferries CMC personnel to and from ports of destinations in Dinagat Islands and Surigao City.

Once the company completes the required permits from the MARINA, the Seaborne Barracuda can travel to other provinces for both operational and emergency purposes.

A PATIENT is being transferred to a district hospital after a consultation at the CMC clinic.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, July 22, 2021 B7

87.2 M Pinoys need Covid-19 jab to fight Delta variant

By Rory Visco

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Contributor

he Covid-19 pandemic is still raging, no doubt about it. However, just like any virus, health officials have already determined that the SARS-CoV-2 virus will definitely mutate to other strains or variants that may be highly transmissible, or deadlier—or even both, which is scarier.

Some of these variants initially bore names based on their country of origin but then the World Hea lth Organization (WHO) decided to change them to protect the sensibilities of these countries when it comes to associating their country’s name to a deadly virus.

Hence, these variants were given names based on letters of the Greek alphabet, the more popular ones are the Alpha, Beta, Gamma and most recently,

the B.1.617.2 or Delta variant, which was first identified by scientists in December 2020 in India.

So. what is the Delta variant? How is it different from the others in terms of symptoms, mode of transmission?

Why does it affect more of the younger population? In short, is it more serious than the others? Should we all be scared, even those who have completed their jabs already?

To prevent burnout, deal with diabetes emotionally, medically

W

ith home quarantine measures in place to deal with the Covid-19 pandemic, many have acquired unhealthy habits that may have possibly increased the risks for diabetes and many other illnesses.

Diabetes nurse educator and ISDF (Institute for Studies on Diabetes Foundation Inc.) faculty member Leyden Florido shared some of her observations on the people’s behaviors these days.

ISDF is the official partner of the “For Your SweetHeart,” a campaign spearheaded by Boehringer Ingelheim and medical societies that aims to promote awareness among Filipinos about the deadly link between diabetes and cardiovascular disease.

“People now engage in binge eating especially now that everything is available online and food can be delivered. They don’t exercise and spend hours watching Netflix in bed and eating,” Florido said. “ T hose are t he unhea lt hy habits that we developed during quarantine. It’s disciplining ourselves and it takes will power,” she explains.

Now more than ever, it is not only important to protect yourself from the Covid-19 virus but also from other health concerns such as diabetes.

Dealing with diabetes

The common symptoms of diabetes include frequent urination (often at night), feeling very thirsty and hungry, extreme fatigue, weight loss, blurry vision and sores that don’t heal.

As an experienced diabetes nurse, Florido also shared some of the “uncommon” symptoms of possible diabetes.

“For type 2 diabetes, unfortunately, you will not feel any symptoms. Most of the patients do not know that they have diabetes. You can only see the symptoms if there is frequent UTI [urinary tract infection] and during the tests, the urine is positive with sugar.

Another uncommon symptom is itchiness all over the body and if you’re a woman—vaginal itchiness. They do not realize that this itchiness is caused by high levesl of sugar,” she begins.

“Another is acanthosis nigricans (a skin condition that causes dark discoloration in body folds and creases)—that is a sign of insulin resistance which could lead to diabetes. Frequent urination especially at night, very dryskin and there’s an unexplained weight loss,” she continues.

Florido also added that there are several and different manifestations of diabetes for different individuals, but there’s one

unimpeachable thing in common: “W hen they check your blood sugar, it’s very high. You’re a walking timebomb without you even knowing.”

If you suspect that you have diabetes, and especially now in the time of pandemic, do not hesitate to consult a doctor. With the availability of telemedicine today, one can easily access a general practitioner, endocrinologist or diabetologist. Doctors can prescribe electronically and there are options to avail of home service laboratory testing. One of the first confirmatory tests for diabetes is FBS (Fasting Blood Sugar) which involves eight-hour fasting.

Once a patient is confirmed to have diabetes, Florido gives a sneak peek of what a doctor might advise one to do.

“You will be given medication, you wil be told to exercise and watch what you eat. Usually ganito ang nangyayari since enumerated and structured na—medication, exercise and nutrition, Florido said.

Emotional impact on patient & carer

However, Florido pointed out that it is also important to look into the emotional impact of the diagnosis on the patient.

“You have to address first how and what they feel and what they know about diabetes. From there, it will be easier to educate them and correct misconceptions. You have to tell them that they have to undergo diet and lifestyle modification,” Florido explains.

Florido also adds that for longtime diabetes patients, feeling depressed about the situation can be a sign of what they call “diabetes burnout.” According to her, “diabetes burnout” is part of every patient’s journey which also affects the carer and family of the patient.

“Diabetes is a chronic disease and sometimes if you won’t be able to control it, it’s progressive,” the diabetes nurse remarked.

The key to address the emotional well-being of the patient and carer rests on communication. Florido stresses the importance of communicating the feelings of both the person with diabetes and the carer.

“Focus on yourself and not on your condition. We do not say ‘diabetic person’ because it’s a noun about the sickness. We refer to it as ‘person with diabetes.’ Person ka muna before your condition.

You are a person, kabuuan mo muna as a total and unique person, na mayroong tweak. Diabetes is just a tweak in your life and you can control it. Do not let diabetes control you,” Florido declares.

Dr. Franco Felizarta, Infectious Disease and Internal Medicine Specialist. UP Medical Alumni Society in America (UPMASA), recently talked about this newest variant, even vaccine efficacy and effectiveness, during the latest webinar of The University of the Philippines, in partnership with UP Manila NIH National Telehealth Center and in cooperation with UP Philippine General Hospital entitled “The Delta Variant: What Every Frontliner Needs to Know.”

Knowing the variants

The Alpha variant which supposedly came from the UK is 50 percent more transmissible than the original virus from Wuhan, China but this Delta variant is 50 percent more transmissible than the Alpha variant. The Beta variant from South Africa has the same transmissibility as Alpha, while Gamma from Brazil has a higher transmissibility than Alpha but less than Delta.

This effectively means that Delta is tops because it has the highest transmissibility.

“Disease severity has not really increased among the variants except for Gamma. In Manaus, Brazil, they thought they already had herd

immunity and they had a bad second wave. There was also not much impact when it comes to diagnostics,” Dr. Felizarta said.

He pointed out that the Alpha is still No.1 in terms of global coverage, being present in 173 countries.

“However, the Delta variant is fast catching up as it is now present in 104 countries already.”

Real-world vaccine effectiveness

Considered as mankind’s line of defense against the virus are the vaccines. How are they performing?

With regard to the AstraZeneca vaccine in fighting the Alpha and Delta variants, Dr. Felizarta said it was quite low for the symptomatic at 66 percent for Alpha and 60 percent for Delta, but for prevention of hospitalization, it’s a high 86 percent for Alpha and 92 percent for Delta, which is pretty good.

“Even with one dose of AstraZeneca, it already prevents 76 percent of hospitalization for Alpha and 71 percent for Delta.”

As for the CoronaVac vaccine of Sinovac’s efficacy and effectiveness, it may not be too impressive for Covid-19 symptomatic patients but for the prevention of hospitalization

and severe disease, Dr. Felizarta saw that it’s quite impressive, from 85-100 percent, especially in Chile which uses Sinovac. “Based on 10.5 million, they have the Alpha and the Gamma variants, and yet they still achieved 85 percent.”

For vaccine neutralization versus the variants, according to the Covid-19 Weekly Epidemiological Update by the WHO last July 6, 2021, CoronaVac even did better than AstraZeneca, and AstraZeneca did better against the other vaccines in terms of neutralization.

Vaccine breakthrough infection

Dr. Felizarta said that the higher the reproduction number, the higher the percentage needed to achieve herd immunity. For the Delta variant, which has high transmissibility, vaccination should have to be around 86 percent of the population.

“Remember t hat t he h igher the number of vaccinations the more difficult It becomes for the virus to be transmitted to unvaccinated community,” Dr. Felizarta pointed out.

But what happens if there is a vaccine breakthrough infection, defined by the US CDC as the in-

fection of a fully vaccinated individual? The viral load is decreased by 40 percent, the fever symptoms is 25 percent versus 63 percent in the unvaccinated, and in terms of days spent in bed, only 1.5 days compared to almost four days for the unvaccinated so it’s milder compared to the unvaccinated, Dr. Felizarta explained.

In terms of household transmission, he said that the secondary attack for the unvaccinated is 10 percent, but if vaccinated with either AstraZeneca or Pfizer, it’s only 6 percent. “That’s almost a 50-percent decrease in household transmission in terms of breakthrough infection for unvaccinated versus the vaccinated.”

There is also decreased mutations in breakthrough infection, he said, which means the higher the vaccination rate, the lower the diversity.

“In summary, you have great protection against severe disease, including hospitalization and deaths among all vaccines against all variants and if there’s a breakthrough infection, it would be milder, the household transmission is lower and there is decreased mutations compared to the unvaccinated.”

Calls for smoke-free environment to aid in Covid-19 fight intensify

By Claudeth Mocon-Ciriaco

H

ealth experts and advocates have stressed that everyone deserves to live in an environment conducive for their health and well-being.

Amid the Covid-19 pandemic, they have also underscored the need for a smoke-free environment fearing that those exposed to smoke have an increased possibility of contracting the virus while smokers increase their chances of developing severe cases of Covid-19.

Dr. Beverly Ho, Health Promotion Bureau Director of the Department of Health (DOH), also emphasized during the online conference last week titled ”Building and Celebrating Tobacco Control Champions: Promoting, Defending, and Institutionalizing Smoke-Free Environment Policies,” that smoking “weakens the lungs.”

“Smoking increases an individual’s risk of developing Covid-19. Tobacco use damages the lungs, making the smoker and those exposed more vulnerable to Covid-19,” Ho said.

Ho lauded the efforts of lawmakers and different groups in pushing the measures for a smoke-free environment.

New risks

Lawyer Jacky T. Sarita, Managing Director of HealthJustice, also reiterated the warning of the World Health Organization (WHO) that Covid-19 brings new risks for tobacco users.

“As early as April last year, WHO said that smokers are more likely to develop severe cases of Covid-19, compared to non-smokers,” Atty.

Sarita noted.

A WHO scientific brief highlighted the link between smoking and more severe Covid-19 and death.

It stated that smokers and vapers may be “vulnerable” to contracting Covid-19 “as the act of smoking involves contact of fingers with the

lips, which increases the possibility of transmission of viruses from hand to mouth.”

The same warning was given by the DOH based on a review of studies by health experts convened by WHO which indicated that smokers are vulnerable to complications brought by the virus.

Pending bills

There are three smoke-free environment bills pending in Congress.

In the Senate, Senator Ronald dela Rosa sponsored Senate Bill 1976, while Representative John Marvin “Yul Servo” Nieto of the 3rd District of Manila backed House Bill (HB) 8754. Representatives Nina Taduran, Eric Yap, and Jocelyn Pua-Teo, all of the ACT-CIS partylist, sponsored HB 8763.

These bills sought to expand the coverage of the smoking ban in Republic Act 9211 or the Tobacco Regulations Act of 2003 to include all public places, prohibition in the establishment of indoor smoking areas, and strengthen the power of local government units to enact stricter smoke-free ordinances.

If enacted into law it is expected to help reduce the transmission of Covid-19; lessen the number of people who will die due to tobacco smoke; protect the Filipino people from the harmful effects of secondhand smoke; provide an environment for smokers to quit, and prevent smoking initiation among the youth.

As the country battles the Covid-19 pandemic, Taduran said that now is the best time to make the bill into law.

“In this crucial time, when the deadly Covid-19 is plaguing countries all around the world, smoking amplifies the risk brought about by the virus,” Taduran said.

More support needed

Although she was happy with the increasing number of health champi-

ons across all government branches supporting the bill, Rep. Helen Tan, House Committee of Health Chairperson and one of the co-sponsors of HB 8763, is still hoping that more people will join them to “achieve a healthy environment and protect Filipinos from the dangers of secondhand smoke and third-hand smoke.”

“It is the right of health among Filipinos to live in a community and environment that are free from diseases caused by tobacco smoke,” Tan said.

“Apart from this, smoking areas are one of the transmission hotspots of the Covid-19 virus,” she added.

Meanwhile, Rep. Amihilda Sangcopa n, co -sponsor of HB 8763 stressed that smoking is also a financial burden for smokers.

“Hindi lamang ang bulsa natin ang unti-unting sinusunog ng bisyo ng paninigarilyo, bagkus, binabayaran din natin ito [Smoking doesn’t only burn a hole in your pocket but also] at the expense of our own health and the health of others,” the Anak-Mindanao partylist lawmaker said.

DepEd joins the call

Education Secretary Leonor Magtolis Briones has also joined calls for the immediate passage of the Smokefree Environment Bill.

Briones expressed her strong support for the bill stressing that she is personally an advocate of a smokefree environment.

The DepEd chief shared that her father died at an early age of 54 due to a stroke caused by extreme tobacco use.

“My two bothers also followed the same path of early deaths,” she said.

“My faith has taught me not to destroy the body because it is God’s temple especially not to destroy it through vices,” the DepEd chief stressed,” as she recalled that when she was with Social Watch, she was actively campaigning for tobaccocontrol policies.

“In this conference, we have talked about legislative measures that will effectively curb the tobacco use in this country. But beyond the legalese, the language, and legislative jargon, what we are really talking about are the dreams of our young people that can only be achieved if they grow up healthy and free from the harm of tobacco use,” she said and assured that schools in the country “have always been smoke free.”

She stressed that they do this mainly not only to protect the learners but “to protect them from situations that normalize the tobacco use and make it appealing to them.”

Smoke-free Philippines

Ernesto Ofr acio, President of the Aktibong Kilusan Tungo sa Iisang Bayan(AKTIB), an alliance of community and sectoral organizations pushing for the right of Filipinos to health, expressed during the online conference his delight for the support lawmakers have shown to have a 100 percent smoke-free Philippines.

He pleaded to the President Duterte to certify as urgent the proposed measure. “Kami po ay nakiusap sa ating mahal na Pangulo na icertify ang [We are appealing to our beloved President to certify] HB 8763,” Ofracio said.

For her part, Ritz dela Rosa, a student leader from Ramon Magsaysay High School, expressed her alarm over the high number of Filipino youth who are put in danger due to their exposure to second hand smoke.

Dat a f rom t he 2015 Globa l Adult Tobacco Sur vey indicated that 24.0 million adults were exposed to tobacco smoke at home; 20.2 million were exposed to tobacco smoke in public transportation; 8.1 million were exposed to tobacco smoke in restaurants; and 3.6 million adults were exposed to tobacco smoke in enclosed areas at their workplace.

Philippine Heart Center has new equipment to enhance image guided procedures

T

he Philippine Heart Center recently acquired the Philips Azurion with FlexArm and is set to establish a new standard for patient imaging and positioning f lexibility for image-guided procedures.

This advanced ceiling-mounted system provides expanded imaging flexibility for diverse procedures and exceptional positioning freedom for medical teams. With Azurion with FlexArm’s small footprint, the system is particularly beneficial for Asian labs as they are generally smaller compared to the West.

Clinicians can also quickly and easily visualize critical details of the anatomy and identify changes to the patient during procedures.

Its full set of innovations also enables clinicians to perform 2D and 3D imaging across the whole patient.

As the clinician moves the system, the image beam automatically maintains alignment with the patient, allowing consistent visualization without having to move the patient or pivot the table. This can enhance overall patient experience and quality of care, while promoting efficiency.

“Philips’ engineers have overcome extremely challenging geometric and mechanical barriers to create Azurion with FlexArm. The system enables us to dramatically optimize procedures around the patient, where we can now capture optimal views of the patient, without encumbering all the clinicians

who are working around the table.

The new system is not only easy and intuitive to use, but its intelligent pivoting movement allows it to free up space around the table for clinicians to work in the most ergonomic position. In the heat of complex procedures, we can already see how the genius of this innovation delivers better clinical outcomes and longterm economic value for a more diverse range of procedure,” said Dr. Joel M. Abanilla, executive director, Philippine Heart Center.

Empowered by a unique smart kinematic engine, the system moves on eight different axes, controlled with a single “A xsys” controller.

Simulation tests with clinicians have demonstrated the system’s

potential to significantly reduce the repositioning of the patient, staff and equipment to improve access for minimally invasive procedures, such as radial access, and to reduce the risk of unintentional pulling of wires and tubes, as well as significant time savings. The system is suited for Hybrid ORs that cater to multiple specialties in one room, such as a combination of surgical and endovascular procedures.

“Azurion is now established as the leading platform for interventional procedures, favored by clinicians for its intuitive, seamless approach, and by hospital administrators for its positive impact on productivity and efficiency,” Lawrence Chia, general manager, Philips Philippines Inc.

Sports

HUSH ON OPENING CEREMONY

BusinessMirror

B8

| Thursday, July 22, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

50-YEAR WAIT OVER FOR BUCKS M

ILWAUKEE— Giannis Antetokounmpo had the Larry O’Brien Trophy in one arm, the National Basketball Association (NBA) Finals MVP trophy in the other and there was a cigar on the table in front of him.

All the work it took to lift the Milwaukee Bucks from a team that won 15 games when he was a rookie to one with 16 wins this postseason was finally finished.

“This is time to celebrate,” Antetokounmpo said.

Milwaukee waited 50 years for that.

Antetokounmpo ended one of the greatest NBA Finals ever with 50 points, 14 rebounds and five blocked shots as the Bucks beat the Phoenix Suns, 105-98, on Tuesday night to win an entertaining series 4-2 and cap off a joyous return to a fan-filled postseason after last year’s NBA bubble.

It was the third game this series with at least 40 points and 10 rebounds for Antetokounmpo, a dominant debut finals performance that takes its place among some of the game’s greatest. Antetokounmpo finished with 35.2 points, 13.2 rebounds

T

GIANNIS ANTETOKOUNMPO ends one of the greatest National Basketball Association Finals ever with 50 points, 14 rebounds and five blocked shots. AP

and 5.0 assists per game while shooting 61.8 percen, the first player in finals history to reach those numbers.

He shot 16 for 25 from the field and made an unbelievable 17of-19 free throws—a spectacular showing for any shooter, let alone one who was hitting just 55. percent in the postseason and was ridiculed for it at times.

“People told me I can’t make free throws and I made them tonight. And I’m a freaking champion,” Antetokounmpo said.

He hopped around the court waving his arms with 20 seconds remaining to encourage fans to cheer, but there was no need.

Their voices had been booming inside and outside for hours by then, having waited 50 years to celebrate a winner after Lew Alcindor—before becoming Kareem Abdul-Jabbar—and Oscar Robertson led the Bucks to their first championship in 1971.

“For the city, I’m sure it means everything,” said Khris Middleton, the other player left from that 15-67 team in 2013-14.

“They’ve seen the work that we put in over the years for them to get to this point.”

In a season played largely

without fans, the Bucks had 65,000 of them packed into the Deer District outside, a wild party that figured to last deep into the Midwestern night. The party wasn’t bad inside, either: Confetti rained down inside as fans chanted “Bucks in 6! Bucks in 6!”—a hopeful boast by former player that turned out to be a prophetic rallying cry.

“I hope they enjoyed it just like we are now,” Middleton added.

The Bucks became the fifth team to win the NBA Finals after trailing 2-0 and the first to do it by winning the next four games since Miami against Dallas in 2006.

Chris Paul scored 26 points to end his first NBA Finals appearance in his 16th season. Devin Booker added 19 points but shot just 8 for 22 and missed all seven 3-pointers after scoring 40 points in each of the last two games.

“There’s just a pain that goes with your season being over,” Suns coach Monty Williams said. “But I’ve never dealt with this and so I’m grateful, like I said, but I know this is going to hurt for a while.”

The teams that came into the NBA together as expansion clubs in 1968 delivered a fine finals,

Athletes enjoying life in village amid strict health, safety rules

freely, but of course, with the usual protocols that we have been used to in the Philippines, social distancing, use of face masks,” Molo said.

Athletes, officials and coaches undergo saliva testing for Covid-19 daily. Members of the media and other participants get tested every four days.

Molo also revealed that Irish Magno is back to her training as if nothing happened, after the boxer suffered a soft tissue contusion during her skip-rope training session.

“Nothing serious, she’s back training with the rest of the boxing team,” said Dr. Molo.

The Athletes’ Village has been hogging the spotlight lately, from several participants testing positive of the virus, to “cardboard beds that are not sturdy enough for sex.” Jun Lomibao

T

OKYO—The reported 79 Games-related Covid-19 infections does not seem to scare athletes and officials at the Olympic Village.

“The athletes approach each day as a regular one,” Team Philippines official doctor Randy Molo told members of the Philippine media over breakfast at the Conrad Tokyo on Wednesday, But they don’t let their guards down.”

The Japanese government out the country in a state of emergency to prevent the further spread of the virus as the Olympics approach its opening

ceremony on Friday.

Molo said athletes go about their businesses with guarded optimism inside the 44-hectare Olympic Village located in Tokyo’s Harumi Waterfront District.

“They bring their chairs into the open, grass field and they soak up the sun,” he said. “You see athletes jogging or cycling, but with the usual masks and social distancing.”

The most fun from among the 14 Filipino athletes staying inside the village is skateboarder Margielyn Didal, who goes around the facility using her skateboard.

“They are moving around

Game on!

TESSA JAZMINES | tessa4347@gmail.com

PART OF THE GAME AFTER a major postponement due to the pandemic, a lot of heaves and hos and heavy soul searching on whether to push through with it or not, the XXXII Olympiad is finally coming off the block on Friday.

From where we are, we can watch the opening spectacle and the two-week long drama series on several platforms this year: free TV, Pay TV and online. The opening ceremony starts at 7 p.m. and it will be good to catch that even if it seems surreal without the mammoth crowds that grace this international biggie every four years.

Somehow, despite the big opposition to holding the event due to fears about worsening the spread of Covid 19, many are happy that the Games will push through. For one, athletes can’t postpone their “moment” or their peak shape to showcase their talents and give it

all for their country. For another, it can be a big emotional boost for the world to come together and experience a moral victory over the virus. Just make sure that the strictest protocols are observed to prevent further spread, or limit it at least.

For Filipinos, this is a significant Olympics. Philippine Sports Commission (PSC) Commissioner Ramon Fernandez said he is bearish about this one and confident about the competitive power of many of our athletes.

All eyes will be on seven sports where we have athletes who will represent us well—pole vault where Ernest Obiena, our first Olympic qualifier, is expected to shine; gymnastics where Carlos Yulo will sparkle; boxing, where Eumir Marcial, Irish Magno, Nesthy Petecio and Carlo Paalam will make us proud; weightlifting,

where Hidylin Diaz is just waiting for her moment in the sun; rowing where Cris Nievarez is expected to power our bid to glory; taekwondo where Kurt Barbosa’s grit and will power will see him through; and skateboarding where Margielyn Didal will give us a high.

PSC Chairman Butch Ramirez thinks this is one of the most prepared teams the country has formed in years. And the fact that 19 athletes qualified for the Tokyo Olympics—the biggest bunch after a long while—is testament to the preparations and the billions spent to support the athletes.

Contrary to claims and the buzz, the PSC spent around P2 billion after the last Olympics in 2016 to fund the training and development of athletes, resulting in the awesome performances of athletes like Nesthy Petacio and Caloy Yulo.

Could this be the year when the Philippines wins it first Olympic gold? nnn THERE is a story behind that quest for Olympic Gold that needs to be told, says former PSC Chairman Aparicio Mequi. Have you heard of Project MILGOLD? “In 1985, members of the UP Varsity Alumni Association led by the late Marcelino “Mars” Espino,

with the last three games all in the balance deep into the fourth quarter.

The Bucks won them largely because of Antetokounmpo, a two-time MVP in the regular season who raised his game even higher in the finals and was voted the unanimous NBA Finals MVP. He was the star of these finals in every way, from his powerful play on the court to his humble thoughts in interviews to taking time after Tuesday night’s win to find children to high-five amid the celebrations. He teared up afterward talking about the sacrifices his family endured while he grew up in Greece.

He did all this after missing the final two games of the Eastern Conference finals with a hyperextended left knee, an injury he feared could be serious enough to end his season.

Just think what people would have missed.

What started as a gradual rise for Antetokounmpo and the Bucks sped up in the last few years and they thought they might be here the last two seasons. They had the NBA’s best record in 2018-19 but blew a 2-0 lead against Toronto in the Eastern Conference finals. AP

By Jun Lomibao

OKYO—A lid stayed sealed over how the opening ceremony for the Tokyo Olympics would look like on Wednesday as organizers of the Games wanted the event to be the best ever amid the pandemic.

“We really don’t know how the opening ceremony would be like,” Team Philippines Chef de Mission Mariano “Nonong” Araneta told BusinessMirror on Wednesday.

“It’s a tightly-kept secret.”

Friday’s opening ceremony will be held at the National Stadium but there won’t be a single fan at the 68,000-seat arena.

It would only be at 4 p.m. on Friday, or four hours before the 8 p.m. program, could the world know how the ceremony would be like.

But the lean Philippine crew would be marching around the crowd-less stadium proudly clad in traditional barong tagalog created by world renowned designer Rajo Laurel.

Boxer Eumir Felix Marcial is the country’s designated male flag-bearer, while his female counterpart will be judoka Kiyomi Watanabe.

Marcial will be wearing a cocoon silk barong with a machine-embroidered pitchera design muslin inner shirt and light wool black pants.

Watanabe, on the other hand, will be clad in a cocoon silk short blazer with a machine embroidered front and sleeves and neoprene spaghetti-strapped black inner blouse and neoprene black pants.

Marcial and Watanabe were selected for the opening ceremony because their events come later in the Games—Marcial goes up the ring in men’s middleweight of boxing on July 26, while Watanabe takes the mat in women’s half-middleweight of

judo on July 27.

They will be joined in the parade of countries by Araneta and coaches Carlos Padilla (taekwondo) Nolito Velasco (boxing) and Daniel Bautista (skateboarding), as well as Philippine Swimming Inc. president Lani Velasco and Gymnastics Association of the Philippines head Cynthia CarrionNorton.

The opening ceremony would last for three hours and would feature 4,500 participants— athletes and officials (maximum of six from each country)—from 205 member national Olympic commitees. Only North Korea withdrew from the Games.

Araneta, meanwhile, said concerns from transport woes to inadequate Covid-19 test kits were raised by the member NOCs during the chef de mission meeting on Wednesday morning.

“The hosts promised to address problems in transportation after several countries complained that they had to wait at least an hour for their designated shuttle buses to arrive and bring them to their training venues,” Araneta said.

“There was also a problem with the lack of testing kits, especially on Tuesday when a long line was formed because they ran out of kits,” said Araneta, also the president of the Philippine Football Federation.

Another major concern, Araneta said, was the efficiency of the shuttle system after the opening ceremony.

“Imagine bringing 4,500 individuals back to the Olympic Village the soonest possible time?,” he said. “But the hosts vowed to pull it off in one hour.”

There are 11,000 athletes and 7,000 officials in these Games that were postponed for a year because of the Covid-19 pandemic.

Covering media is pegged at 15,000.

WHAT INJURY? Irish Magno is all

smiles as she takes her meal at the Mess Hall of the Olympic Village in Tokyo. Magno slips while jumping rope on Monday but is back 100 percent for her Olympic debut in women’s flyweight of boxing on Sunday.

THE barong tagalog will again be on display before the eyes of the world in Friday’s opening ceremony of the Tokyo Olympics.

formed the Philippine Sports Hall of Fame Board of Trustees chaired by the late Ambassador Danding Cojuangco, with members former President Fidel V. Ramos, Augusto “Tata Gus” Villanueva, banker Edgardo Espiritu, then Philippine Olympic Commission president Governor Jose Sering,” says Dr. Mequi.

“I was then Director of the Ministry of Education, Culture and Sports-Bureau of Sports Development. An offshoot of the Philippine Sports Hall Of Fame was Project MILGOLD, which offered a cash reward of one million pesos to the Filipino athlete who will win the first Olympic gold medal. Ed Espiritu of Metrobank was convinced by the group to put the amount in a time deposit and [he] agreed when he was told that it will take a long time for an athlete to succeed [so] the accrued interest over time would be more than enough to cover the initial P1 million. This proved to be true because it is only now in Year 2021 that it appears possible AFTER 36 years!”

Dr. Mequi said Project MILGOLD was inspired by a barber in Bulacan, who commented while giving a BSD staff his haircut: “Kung talagang

gusto nilang manalo ng Olympic gold medal ang isang athlete natin, gaya ng isang boxer, ’pag bumagsak ang boxer, sigawan mo lang ng “Bangon,” one million! One million! At siguradong babangon at lalaban. Kaya dapat magkaroon ng one million cash prize!” the barber said.

And that’s what happened. The Alumni Association guys put their heads together and started the prize money incentive for Filipino athletes—which incidentally, has gotten bigger than ever with the combined commitments of the private sector to contribute to the rewards in store for athletes who will have podium finishes. Gold medal winners in Tokyo will now get a total of P30 million, silver medalists will get P15 million and bronze medalists P6 million. nnn NOW the stage is set for the most unusual Olympiad of all. And not just our athletes, but our sports media as well, who are right there to get the full experience—no matter how unusual it may be for them. “It’s really very different,” says my buddy Riera Mallari, sports and tech editor of the Manila Standard. “Pagdating pa lang sa airport, parang ghost town [na]. Ang daming requirements:

two negative RT-PCR tests, may ida-download ka na 4 apps, may written pledge pa na hindi ka gagawa ng hindi mabuti. Tsaka mismo sa Tokyo, on our way to our hotel, hindi mo mapi-feel ’yung Olympic spirit, halos walang tao sa kalsada, wala gaanong banners or billboards drumbeating the Olympics. Maybe sa mga venues, sa Olympic Village or sa Main Press Center, mas festive nang konti.”

Covid protocols are extra strict, reports Riera. “We are on our second day of a 3-day quarantine at the hotel. We are essentially in a bubble, kasi hotel to venues and back to hotel lang. We cannot go astray (not even to go to 7-Eleven to buy bento). Sobrang strict ang protocols. Kami sa media, we will be tested every four days, while athletes, coaches and officials, daily ang testing.”

All the bright boys of Philippine sports media are already in the trenches, ready for action, never mind if some of it will be virtual.

Shoutout to our sports ed Jun Lomibao, Tito Talao of the Bulletin, Nelson Beltran of the Star, Francis Ochoa of the Inquirer and Dodo Catacutan of Spin,ph. who are already dug in, waiting for the most unique Games to begin.

Game on, boyz!