BusinessMirror June 02, 2021

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Wednesday, June 2, 2021 Vol. 16 No. 231

PHL FACTORIES MOVING CLOSE TO GROWTH MODE n

P25.00 nationwide | 2 sections 18 pages | 7 days a week

PHL EXPORTERS MAY MISS RECOVERY BOAT ON CONTAINER WOES

By Cai U. Ordinario

P

@caiordinario

HILIPPINE e x por ters may not be able to take advantage of the recovery of the country’s export markets because of the container crisis, according to exporters and local economists.

According to Philippine Ex porters Confederation Inc. (Philexport) President Sergio Ortiz-Luis, the trade bottleneck created by the ongoing container cr isis does not bode well for the continued recovery of the export sector this year.

See “Exporters,” A2

Once a very popular and busy “must” place for both foreign and local tourists, the street of Crisologo in Vigan, Ilocos Sur, looks like a ghost town, but local folk hope lockdown restrictions can in time be eased to allow travelers to visit. But for now, businesses offering souvenirs of the heritage site, a window to the Spanish colonial period, mostly remain shuttered. NONIE REYES

By Bianca Cuaresma

A

@BcuaresmaBM

FTER the lockdown-induced slump in April, the Philippine manufacturing sector showed signs of recovery in May as its purchasing managers’ index (PMI) grew closer to the growth territory during the month.

See “Growth,” A2

PESO exchange rates

Thin power supply spells more brownouts in Luzon

By Lenie Lectura @llectura

& Butch Fernandez

T

@butchfBM

HE Luzon grid experienced rotational power outage on Tuesday—the second consecutive day of brownouts—and the Nationa l Gr id Corporation of the Philippines

(NGCP) warned that this would continue in the days to come if the power plants that are on shutdown do not switch on soon as scheduled.

“We foresee red alert status in the next few days until Monday [June 7] because of thinning power supply. We see red alert coming in tomorrow [June 2], See “Power,” A2

n US 47.7230 n japan 0.4355 n UK 67.8144 n HK 6.1493 n CHINA 7.4906 n singapore 36.1210 n australia 36.9137 n EU 58.3557 n SAUDI arabia 12.7261

Source: BSP (1 June 2021)

A2

BusinessMirror

Wednesday, June 2, 2021

‘Monde Nissin record-setting IPO signals investor confidence in PHL’

By Bernadette D. Nicolas

F

@BNicolasBM

INA NCE Secretar y Carlos G. Dom i ng ue z I I I sa id Monde Nissin’s record-breaking initia l public of fer ing (IPO) proves global investors’ high confidence in the post-pandemic recover y of the Philippine economy.

Dominguez on Tuesday said Monde Nissin’s offering attracted global investor demand nearly six times the allotment for the international tranche, adding that this shows the country is “very capable of winning over world-class equity investors in billion-dollar issue sizes.”

Monde Nissin’s IPO of USD1 billion is the largest ever public offering in the Philippine Stock Exchange (PSE) and also in Southeast Asia in the food and beverage segment.

“This offering is also a testament to

Growth. . .

Continued from A1

In the latest report on Philippines Purchasing Managers Index (PMI), global think tank IHS Markit said local manufacturing conditions stabilized in May as the country reached a PMI of 49.9 during the month. This is a recovery from the 49.0 PMI recorded in the previous month.

the high confidence of investors in the post-pandemic recovery of the Philippine economy. Monde Nissin’s landmark transaction sends a clear message that our economy will soon regain its momentum and will bounce back stronger than ever,” said Dominguez in his remarks at Monde Nissin’s listing in the Philippine Stock Exchange.

See related story in Companies, B1.

The Cabinet-level Development Budget Coordination Committee recently slashed its growth projection for the Philippine economy this year to 6 to 7 percent from its previous forecast range of 6.5 to 7.5 percent due to the emergence of new Covid-19 variants and the reimposition of stricter lockdown measures in the National Capital Region Plus during the second quarter of this year.

The Philippine Statistics Authority earlier reported that the country’s GDP contracted 4.2 percent in the first quarter of the year, marking the

A country’s PMI is meant to gauge the health of its manufacturing sector. It is calculated as a weighted average of five individual subcomponents. Readings below 50 show deterioration in the industry while readings above the 50 threshold signal a growth in the manufacturing sector.

“May survey data revealed a softer downturn across the Philippines manufacturing sector, as operating

economy’s fifth consecutive quarter of decline.

Socioeconomic Planning Secretar y K arl Kendrick T. Chua has said the economy needs to grow an average of 10 percent in the next three quarters to achieve the low-end of the government’s target.

Nonet heless, t he countr y’s f inance chief said he expects the Philippine company known for its iconic food brands to use its proceeds from its IPO to further expand its business activities and open up more job opportunities for Filipinos.

“Monde Nissin has long been a part of the daily lives of Filipino consumers. Its products are staple items in many of our households. It has become a food giant providing some of the most iconic food brands.

More importantly, the company has created thousands of quality jobs for our people,” Dominguez said. “Over

conditions inched towards stabilization,” the report read.

In particular, IHS Markit reported that output levels declined at a softer pace, while a marginal contraction in new orders was recorded.

Production volumes also still fell “solidly” in May, according to the report. Firms attributed the reduction to business closures and material shortages. That said, the rate of decline eased from that seen in

the past two decades, the company proved that it can compete w ith the best of the world ’s brands by expanding its business worldwide.”

Even amid the ongoing pandemic, Dominguez said this has been an “exciting time for the Philippine stock market” which has witnessed several other landmark offerings from the retail and telecommunications sectors, and the entry of Real Estate Investment Trust (REIT) players.

“I am sure that the Philippine stock market is poised to see more blockbuster offerings as interest in our economy continues to grow,” he said.

These “promising developments” underscore the importance of rapid ly developing the Phi lippines’s capita l markets through refor ms t h at wou ld e ncou r a ge f i n a nc i a l deepening and a broad-based and inclusive financial system fit for the 21st centur y, Dominguez said.

April, as factories in some cities were able to restart operations.

“A surge in Covid-19 cases and ECQ [enhanced community quarantine] measures last month forced the Filipino economy back into contraction territory. May PMI data will therefore be welcomed as it revealed a swift movement towards stabilization with some businesses already resuming their operations,” IHS Markit economist Shreeya Patel said.

“Softer declines in output and new orders signalled a step in the right direction, whilst a renewed increase in overseas demand also supported the sector. There are also signs manufacturers are dealing well with supply issues as safety stocks continued to be built, helping keep backlogs at bay for now,” Patel added.

The economist, however, warned that while firms continue to reduce outstanding business, they face “strong” inflationary pressures.

In particular, the report said raw material scarcity and supply-chain disruption continued to worsen the firms’ cost burdens.

The rate of increase in prices softened slightly from that seen in April, IHS Markit said, but remained much higher than the long-run series average. This sustained period of rising expenses encouraged firms to pass on part of the burden, with selling charges rising to the greatest extent since November 2018, the report said.

Cuts to work forces also suggest firms are seeking to control soaring expenses.

“Nevertheless, policy-makers are working towards securing enough vaccines to inoculate a large proportion of the population.

The rollout must gain momentum to prevent another tightening of measures and to encourage an economic recovery, however,” Patel said.

www.businessmirror.com.ph

Power. . .

Continued from A1

Thursday until Friday. We will have a normal network for the weekend (Saturday and Sunday) because demand is low but coming Monday (June 7) we see a red alert status.

We are asking everyone to put it on notice so they can make preparations,” NGCP spokesperson Atty. Cynthia Alabanza said at a virtual news briefing.

The NGCP warning of more outages came as the Senate Energy committee head Sherwin Gatchalian vowed to open an inquiry.

Ironically, several senators who were attending the Senate plenary virtually were cut off brief ly from their colleagues at the session hall after outages struck their homes on Tuesday.

Gatchalian said in a radio interview the recurring problem of outages, despite the Department of Energy’s repeated assurances of sufficient capacity, should have long been resolved if red tape had not deterred investors who were willing to set up power plants.

Unplanned outage

Luzon was placed on red alert from 10 a.m. to 5 p.m. and from 6 p.m. to 10 p.m. on Tuesday.

The issuance of the red alert was triggered by the unplanned outage of GNPower Mariveles Energy Center (GMEC) Unit 2 coal power plant, the prolonged plant shutdown of major power facilities and the reduction of power plant capacities. These resulted in a deficit of 185 megawatts (MW) as available supply stood at 11,408 MW while demand was projected to peak at 11,593 MW. GMEC 2 (316 MW) has been declared unavailable due to a suspected boiler tube leak. The plant is expected to be back online on June 8.

A total of 4,064 MW was shaved off from the grid. Of which, 435 MW was from the planned outage of the San Roque hydro plant; 1,792 MW from the forced outage and extended planned outage of power plants including Sual, GMEC Unit 1 and Sem Calaca; and 1,837 MW from power plant derating. Ilijan’s capacity was reduced to 716 MW due to ongoing Malampaya gas restriction from 835 MW in the previous week.

Alabanza said the NGCP has no control over the power plants’ outages, be it planned or unplanned. “We will just be advised if they will be on shutdown. We are also dependent on the information provided by the power plants. We are reporting this to the DOE because this has impact on the power rates,” she said.

To maintain a balanced system, NGCP on Tuesday implemented Manual Load Dropping (MLD) in parts of Luzon—Isabela, Ifugao, Nueva Ecija, Pangasinan, Bataan, Batangas, Camarines Sur and some parts of Metro Manila.

The Manila Electric Company (Meralco) said customers in parts of Cavite, Batangas, Laguna, Rizal, Metro Manila, Cavite could experience brownouts.

The DOE said separately it continues to monitor the power situation and will submit the additional information for the consumers and the enforcement agencies, including the Energy Regulatory Commission (ERC), the Philippine Competition Commission and the Department of Justice, considering its long-term strategy of addressing the power supply and demand situation in summer.

It reminded distribution utilities and the system operator of its contracting obligations to address the needed capacity increases for a reliable power system for its consumers.

“W hile the [DOE] is working towards resolving these p e r s i s t e nt i s s u e s , it i s not s ome t h i n g t h at cou l d b e accomplished overnight,” it said.

The DOE also asked ERC to look into these outages and exercise its regulatory functions.

“We are also monitoring the situation. We are definitely looking into these outages and will take the necessary actions in accordance with existing laws and rules on this matter,” said ERC commissioner Rexie Digal.

Exporters. . .

Continued from A1

“[The] countries that are recovering [such as the] US, European [countries], [and] China, they are the ones in need of boats.

[Ma ny of t hese a re for t he] vacc i ne. [T hey i nc rea se t he pay ment for t he boats] so t hese vessel s w i l l go to t hem.

T h is m a kes it d i f f ic u lt for u s to get t hese boats, t h at is t he problem,” Or t i z-Lu is sa id i n a m i x of Fi l ipi no a nd Eng l ish. “ If t h is persists, a nd t here a re i nd ic at ions t h at it w i l l worsen, t h at w i l l be a big problem,” he told BusinessMir ror i n a phone i nter v iew.

An exporter of marine products based in the Visayas was quoted in an earlier statement of the PhilExport as lamenting the shortage of available space aboard container vessels for Philippine cargo bound for the US market.

The exporter said Philippine cargo are at a big disadvantage and are “not getting priority” and being “shut out/bumped off from whatever available space,” while freight costs have soared because of the tight market.

What is sad, the exporter added, is there is now market demand, especially for food and furniture and other products since major markets have reopened, “but we are still constrained by supply chain and logistics issues.”

Ortiz-Luis said in order to mitigate the further damage of the crisis on exporters, there were proposals put forth at the Export Development Council’s Transportation and Shipping Committee.

Chartered shipment

These proposals included allowing local shipping lines to ply regional routes and for some shipping lines to operate on a chartered basis to deliver goods to and from Asian markets, including China.

The chartered shipment can be undertaken by ships that have not been used because of the lockdown and can be manned by Filipino seafarers who lost their jobs due to the pandemic.

However, Ortiz-Luis said these proposals are still being ironed out at the Export Development Council level. They still do not know how or if the government can help them with the licensing of these shipping lines to ply regional routes.

“Well, it is not clear what we can ask from the government. It’s not the problem here. All of us should think of a way around this problem. If there are those who are able to think of a remedy and the government is needed [that’s the time we can ask them for help].

In the meantime, there is a need to speed up the processing of the request of domestic shipping lines who have an application to ply regionally,” Ortiz-Luis said.

BusinessMirror

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ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City WANG, LIANFU Customer Service Representative Mandarin Speaking 1.

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

AN, CHENGHUI Marketing Staff Mandarin Speaking

2.

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

CHEN, HUAN Marketing Staff Mandarin Speaking

3.

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

CHEN, SHULING Marketing Staff Mandarin Speaking

4.

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

DANG, ZHICHAO Marketing Staff Mandarin Speaking

5.

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

DENG, YUANCHENG Marketing Staff Mandarin

6.

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

GAN, JUJING Marketing Staff Mandarin Speaking

7.

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

GAO, YUQIANG Marketing Staff Mandarin Speaking

8.

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

LI, DONGMING Marketing Staff Mandarin Speaking

9.

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

LI, WEIQUAN Marketing Staff Mandarin Speaking

10.

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

SHI, FANGFANG Marketing Staff Mandarin Speaking 11.

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

WANG, XUE Marketing Staff Mandarin Speaking 12.

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

ZHAO, JIAQI Marketing Staff Mandarin Speaking 13.

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

ZHENG, XIANBO Marketing Staff Mandarin Speaking 14.

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

ZHONG, ZHIPENG Marketing Staff Mandarin Speaking 15.

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

ZHOU, NAN Marketing Staff Mandarin Speaking 16.

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

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

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

17.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

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

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Can contributes information’s, ideas and research to help develop marketing strategies. Can help to detail, design and implement marketing plans for each product or service offered.

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

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City FONG BEE LING Customer Service Representative Mandarin Speaking 18.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management.

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DU, YANQI Marketing And Sales Agent

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

PAN, AIFENG Customer Service Representative Mandarin Speaking

19.

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

TAN KOK HOI Customer Service Representative Mandarin Speaking

20.

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

WANG, ZHENG Customer Service Representative Mandarin Speaking

21.

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

XU, PENG Customer Service Representative Mandarin Speaking

22.

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

YU, LIBIN Customer Service Representative Mandarin Speaking

23.

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

ZHOU, YU Customer Service Representative Mandarin Speaking

24.

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend potential products or services to management by collecting custom information and analyzing customer needs.

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

ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City CAI, JIANMING Chinese It Support Specialist 25.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

HAN, DELIANG Chinese It Support Specialist

26.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele JIAO, YUBAO Chinese It Support Specialist

27.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele LI, ANXIANGFU Chinese It Support Specialist

28.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele MENG, FANCHANG Chinese It Support Specialist

29.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele PAN, FEI Chinese It Support Specialist

30.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele PANG, KAISHENG Chinese It Support Specialist

31.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele QIU, TIANXIANG Chinese It Support Specialist

32.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele WANG, BIN Chinese It Support Specialist

33.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele

Wednesday, June 2, 2021 A3

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

No.

34.

35.

36.

37.

38.

39.

40.

41.

42.

43.

44.

45.

46.

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

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

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

LUO, YINGQIAN Chinese Customer Service Brief Job Description: Customer support and database services ZHANG, PENGCHENG Chinese Customer Service Brief Job Description: Customer support and data base services LE CHEIN KYWIN Myanmari Customer Service Brief Job Description: Customer support and database services

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

CUI, HONGJIAN Customer Service Representative Brief Job Description: Customer relations service provider JIA, PEIGUO Customer Service Representative Brief Job Description: Customer relations service provider LI, XIAOLONG Customer Service Representative Brief Job Description: Customer relations service provider LI, WENJUN Customer Service Representative Brief Job Description: Customer relations service provider SUN, XUELING Customer Service Representative Brief Job Description: Customer relations service provider WANG, YANBO Customer Service Representative Brief Job Description: Customer relations service provider YANG, KAIWEN Customer Service Representative Brief Job Description: Customer relations service provider ZHOU, YING Customer Service Representative Brief Job Description: Customer relations service provider

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

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City

48.

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

Brief Job Description: Customer support and data base services

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

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

LYU, BING Chinese Customer Service

SA RIVENDELL GLOBAL SUPPORT, INC. 9-11 Flr., The Biopolis Bldg. Macapagal Blvd. Brgy. 076 Pasay City 2741 P. Zamora St. Brgy. 097 Pasay City

47.

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

QUALIFICATION AND SALARY RANGE

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

49.

50.

51.

52.

53.

CHAN KEA SENG Customer Service Representative Brief Job Description: Customer Relations Service Provider CHEN, QIJUN Customer Service Representative Brief Job Description: Customer Relations Service Provider DING, YINGQIAN Customer Service Representative Brief Job Description: Customer relations service provider HU, SHENG Customer Service Representative Brief Job Description: Customer relations service provider LEI, ZHENGHUI Customer Service Representative Brief Job Description: Customer Relations Service Provider LI, SHOUCAN Customer Service Representative Brief Job Description: Customer relations service provider LI, XIAOLONG Customer Service Representative Brief Job Description: Customer relations service provider

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

A4 Wednesday, June 2, 2021 • Editor: Vittorio V. Vitug

The Nation BusinessMirror

Two ex-generals in separate ill-gotten wealth, plunder cases get relief from SC J

www.businessmirror.com.ph

DOJ chief assures ‘discretion’ in anti-drugs operation review

By Joel R. San Juan @jrsanjuan1573

T

HE Supreme Court (SC) has decided to lift the freeze order issued by the Court of Appeals (CA) on the properties and monetary instruments of a brother-in-law of retired military comptroller Lt. Gen. Jacinto Ligot, who is undergoing trial before the Sandiganbayan for allegedly amassing ill-gotten wealth.

Meanwhile, in a separate decision penned by Associate Justice Marvic Leonen, the Court’s Third Division has directed the Sandiganbayan to implement its December 16, 2010 resolution, approving retired Major General Carlos F. Garcia’s request for bail following a plea bargaining agreement with the Office of the Ombudsman in 2010 involving his plunder and money laundering cases.

The SC also lifted the temporary restraining order (TRO) it issued in 2013 enjoining the Sandiganbayan from continuing its proceedings pertaining to the plea bargaining agreement.

The Court issued the orders after it dismissed the petition filed by the Office of the Solicitor General (OSG) seeking to intervene in the agreement, citing its “mandate to protect and promote the interests of the people.”

The OSG expressed belief that the plea bargaining agreement brokered by the Office of the Special Prosecutor under then Ombudsman Merceditas Gutierrez’ control, was disadvantageous to the government and public welfare since it allowed Garcia to plead to a lesser offense despite the strong evidence against him.

Thus, the OSG insisted that it is obliged to correct the Ombudsman’s error.

But the SC declared that the OSG has no power of control over the Office of the Ombudsman, the latter being an independent constitutional body.

It further held that the OSG “overstepped” its mandate by insisting on providing additional representation.

“The government was already rightfully represented by the Office of the Ombudsman in the plunder case before the Sandiganbayan,” the SC said.

“Further, the Office of the Solicitor General had no power of control or supervision over the Office of the Ombudsman, an independent constitutional body. It had no authority to impose on the latter’s handling of the Plea Bargaining Agreement, even if it strongly believed that the Plea Bargaining Agreement was grossly disadvantageous to the government and the people’s welfare,” the High Tribunal added.

The Court added that it would not interfere with the substance behind the plea bargaining agreement, since it is within the Ombudsman’s mandate of investigating and prosecuting erring government employees.

“The acceptance of a plea bargain is purely upon the discretion of the prosecutor, while the approval of the plea bargain is subject to the judicial discretion of the court trying the facts. Hence, any review of a plea bargain approved by the Office of the Ombudsman would be tantamount to an appeal on a question of fact and not the proper subject of a petition for certiorari,” the Court said.

The SC explained that the mandate to represent the government in the proceedings before the Sandiganbayan generally lies with the Ombudsman with the exception of the Marcos ill-gotten wealth cases where the OSG was allowed to prosecute a case before the anti-graft court and only in representation of the Presidential Commission on Good Government (PCGG).

Garcia was criminally charged with separate cases for plunder and money laundering for allegedly conspiring with co-accused, including family members, to amass alleged illgotten wealth in the form of funds, landholdings and other real and personal properties in the aggregate amount of over P303.2 million.

Only Garcia was arraigned for both cases, which were eventually

consolidated, to which he pleaded not guilty.

In 2010, Garcia entered into a plea bargaining agreement with the Office of the Special Prosecutor, which was approved and signed by Gutierrez.

In the agreement, Garcia withdrew his plea of not guilty to the crime of plunder and offered to enter a plea of guilty to the lesser offense of indirect bribery.

He also offered to enter a plea of guilty to the lesser offense of facilitating money laundering as he withdrew his not guilty plea to the money laundering charges.

As part of the deal, Garcia offered to cede P135,433,387.84 worth of cash, real and personal properties owned by him and his family in favor of the government.

On December 16, 2010, Garcia then pleaded to a lesser offer of direct bribery and violation of Section 4 (b) of RA 9160 or facilitating money-laundering.

That same day, upon his motion, Garcia was allowed by the Sandiganbayan to post bail in the amount of P30,000 per case or P60,000 in total.

In the case of Ligot’s brotherin-law Edgardo Yambao, the Court held that the lifting of the freeze order covering bank accounts and vehicles under his name is warranted following the Court’s promulgation on November 18, 2005 of A.M. No. 05-11-04-SC or the Rule of Procedure in Cases of Civil Forfeiture, Asset Preservation, and Freezing of Monetary Instrument, Property, or Proceeds Representing, Involving, or Relating to an Unlawful Activity or Money Laundering Offense under Republic Act 9160, as amended, which became effective on December 15, 2005.

The Court noted that it previously granted Ligot, his wife Erlinda and children’s petition seeking to lift the freeze order issued by the CA based on the same ground.

The said rule provides for a summary or post-issuance hearing within the 20-day period of effec-

tivity of a freeze order and the limitation on an extension thereof to a period of not exceeding six months.

On March 6, 2013, the SC’s Second Division agreed with Ligots’ petition contesting the six-month extension of the freeze order that the CA issued on July 5, 2005 and extended through an order issued in September 2005.

“Similarly, here, petitioner filed a motion for reconsideration of the September 20, 2005 CA Resolution extending the July 5, 2005 Freeze Order. Said motion—along with petitioner’s other motions—was only resolved, that is denied, by the CA through the January 4, 2006 Resolution, after A.M. No. 05-1104-SC had come into effect. Hence, said Rule, likewise, applies to petitioner’s case,” the Court explained in a decision penned by Associate Justice Gaerlan.

However, the Court reiterated that there was probable cause to justify the issuance by the CA of the freeze order against Yambao’s bank accounts and vehicles.

In Yambao’s case, the SC noted that aside from being Ligot’s brother-in-law, the investigation by the Ombudsman revealed that he had no ample income to acquire substantial assets, reinforcing the belief that he was acting as a dummy for the Ligots.

The CA ‘s freeze order stemmed from the June 27, 2005 request of the Anti-Money Laundering Council (AMLC) to freeze the assets of Ligot, who is accused of amassing millions of pesos in ill-gotten wealth while he was comptroller of the Armed Forces of the Philippines (AFP) from July 1999 to March 2001, and not declaring P54,001,217 worth of assets in his Statement of Assets Liabilities and Net Worth.

The Court stressed that its ruling should be “without prejudice to, and shall not affect, the preservation orders, if any, that the Sandiganbayan may have issued over said monetary instruments and properties relative to the forfeiture case against petitioner filed before said court.”

DA panel: Import 55% of MAV plus within July-Sept continued from a10 The interagency committee also recommended that usage of the pork MAV plus shall be on a “first come, first serve” basis with a 500 MT limit per company or eligible importer.

High-ranking sources said the DA wants the bulk of the pork MAV plus volume to arrive the soonest possible time to have an immediate

impact on the domestic market, long reeling from pork shortage and high pork prices.

Sources expressed hope that the pork MAV plus guidelines will be approved this week by the MAV-MC, three weeks after President Duterte issued Executive Order 133 authorizing the increase in pork MAV.

Agriculture Undersecretary for Livestock William C. Medrano told the BusinessMirror the pork MAV+ guidelines have yet to be approved by the MAV-MC. The MAV-MC, which is chaired by Dar, has the final say on the implementing rules and regulations of the pork MAV plus. In his EO, Duterte

ordered the MAV-MC to “ensure that the allocation of the volume importation is fair and open to all qualified importers of pork meat” and in accordance with existing rules and regulations regarding MAVs. Industry sources told the BusinessMirror that they hope the MAV-MC will release the final guide-

USTICE Secretary Menardo Guevarra assured on Tuesday he would take into consideration all aspects of national security concerns in the review of Philippine National Police’s (PNP) anti-illegal drug operations where deaths occurred.

Guevarra made the assurance when sought to comment on President Duterte’s concern about divulging matters of national security in the release of the drug war records of the PNP in his televised address on Monday.

Duterte said his government can not release all records from the controversial anti-drug war for scrutiny since it would compromise national security.

“I actually did not hear it exactly how he said it but my understanding of what the President has been meaning is in the light of the ongoing cooperation between the DOJ and the PNP, a proper concern should be given to security matters. In other words, not necessarily related to the review of these case files, it is not necessarily the one that the President is referring to,” Guevarra said in an online news briefing with Interior Secretary Eduardo Año

and PNP Chief Gen. Guillermo Eleazar after the signing of the joint memorandum circular on violations of health quarantine protocols amid the Covid-19 pandemic.

He said the 61 cases that the DOJ would be reviewing “are more of a criminal in nature than a national security concern.”

W hen reminded about the 2018 Supreme Court resolution penned by then Senior Associate Justice Antonio Carpio ordering the government to yield its records on deaths related to the drug war amid the petitions against the constitutionality of the “Oplan Tokhang,” Guevarra agreed to be more careful in examining these drug cases.

“Yes, there was a SC declaration already but we will play it by the ear.

We will be more careful when the DOJ and the PNP examine all these records. We will make it a point to determine if there are national security concerns involved in each case, and if there are none, then we will do so in accordance with our mandate. But we will take note of the President’s concerns as we examine each and every case,” Guevarra said. Joel R. San Juan

PNP expedites admin proceedings vs cop in cold-blooded murder case

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HILIPPINE National Police (PNP) chief General Guillermo Eleazar vowed on Tuesday to personally monitor the legal proceedings against a police sergeant behind the cold-blooded killing of a woman in Quezon City.

Eleazar said he had already instructed both Quezon City Police District Director Police Brig.

Gen. Antonio Yarra and Internal Affairs Service Inspector General Alfegar Triambulo to expedite the conduct of investigation against Police Master Sergeant Hensie Zinampan, previously assigned to the Police Security Protection Group (PSPG).

“What this cop has done is horrendous and acceptable. Policemen are supposed to protect and defend our countrymen instead of doing

criminal acts against them,” said Eleazar who went to the Quezon City Police District Headquarters at Camp Karingal on Tuesday morning to confront Zinampan.

Reports said Zinampan figured in a scuffle with the son of 52-yearold-victim Lilybeth Valdez on May 1. The daughter of the victim told police investigators that Zinampan threatened harm on them after the incident.

On Monday night, an apparently drunk Zinampan went to the area where he confronted the victim.

Based on the video that went viral in the social media, the policeman was already holding his gun before he approached Valdez.

He then grabbed the victim and shot her in the neck at almost point blank range. Rene Acosta

lines as soon as possible so that they can place orders already and for export partners to be able to fulfill the deliveries amid global shipping and logistics problems.

Industry sources said the arrival of meat imports is now delayed by a month up to two months due to lack of vessels, higher freight costs

and container imbalance, posing a threat to the proposed arrival of 110,000 MT of pork in the next three months.

As of June 1, the average price of pork liempo in Metro Manila markets remains elevated at P380 per kilogram, based on the latest price monitoring report of the DA.

Economy BusinessMirror

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Editor: Vittorio V. Vitug • Wednesday, June 2, 2021

DTI resumes MICE events in NCR Plus

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Department of Trade and Industry (DTI) has further relaxed restrictions on allowed capacity of certain establishments, including dine-in services, personal care services, has resumed meetings, incentives, conventions, and exhibitions (MICE) events at limited capacity in NCR Plus.

The DTI issued Advisory 21-09 series of 2021 outlining the increase in on-site operational capacity of certain business establishments and activities in areas under general community quarantine with heightened restrictions.

The NCR Plus (Metro Manila, Bulacan, Cavite, Laguna, Rizal and Pateros) has been placed anew under GCQ with heightened restrictions until June 15.

Under the DTI’s advisory, food preparation establishments such as commissaries, restaurants and eateries may now allow 30 percent of their capacity for indoor dine-in services, compared to previous 20 percent limitation. Capacity for outdoor dining remains at 50 percent.

Personal care services, including beauty salons, barbershops, medical aesthetic clinics, nail spa and other similar establishments, may now accommodate up to 40 percent of their capacity, compared to the

previous 30 percent limit.

The DTI has now allowed MICE events in eligible venue establishments with a 30 percent capacity restriction, while social events in the same establishments shall be allowed up to 10 percent of the venue capacity.

Trade Secretary Ramon M. Lopez earlier said that they are looking forward to expanding the operating capacity of establishments this month as fewer businesses have remained closed amid easing of lockdown protocols.

Lopez said transitioning to GCQ allowed more business activities while implementing the safety protocols. This is why nonessential activities are still discouraged to avoid Covid-19 surge anew, Lopez said.

“Inaasahan din natin na…dadagdagan ang mga operating capacity moving forward dahil sa magandang numero [We are also expecting that operating capacity will be expanded moving forward because of the good numbers],” Lopez said last week.

The trade chief explained that fewer establishments have remained closed in the pandemic with the easing of the mobility restrictions.

Currently, about 8 percent are not operating, Lopez said. This is lower compared to when 16 percent halted business activities around March and April during the enhanced community quarantine, he added.

DOLE chief: One time P20,000 ‘ayuda’ for ECC pensioners coming this month

By Jovee Marie N. Dela Cruz @joveemarie

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HE Department of Labor and Employment on Tuesday announced that qualified pensioners of the Employees’ Compensation Commission (ECC) will start to receive their one-time P20,000 financial assistance starting this month.

In a news statement, Labor Secretary Silvestre H. Bello III said the one-time financial assistance will be released in batches to about 32,000 EC pensioners by the Social Security System (SSS) and the Government Service Insurance System (GSIS), the ECC‘s administering agencies for the private and public sector.

“The P20,000 financial assistance from the ECC for private sector EC [employee compensation] pensioners will be credited to their accounts starting this month of June,” said Bello. The labor chief chairs the ECC. Earlier, DOLE said the ECC has set aside about P600 million to roll out the aid package meant to benefit both private and public sector workers.

ECC Executive Director Stella ZipaganBanawis said that qualified EC pensioners need not apply for the financial assistance as it will be processed in the same manner as the processing of their EC pensions.

“EC pensioners in the private sector with at least one month of permanent partial disability [PPD], permanent total disability [PTD], or survivorship pension from January 1, 2020, to May 31, 2021, will benefit from the one-time financial

assistance,” Banawis added.

On April 19, President Duterte signed Administrative Order No. 39, series of 2021, approving the grant of a one-time financial assistance of P20,000 to EC pensioners in both the public and the private sectors.

EC pensioners are persons with permanent partial disability (PPD) or permanent total disability (PTD) because of their work or their working environment. They can also be the beneficiaries of the employees who died due to work-related contingencies.

In case of the death of the eligible EC pensioner during the prescribed period of January 1, 2020, to May 31, 2021, the onetime financial assistance will be released to his or her beneficiary.

“The EC pensioners have suffered workrelated disability and the Covid-19 pandemic compounded their vulnerability as they deal with undue financial hardships,” Banawis said.

“We hope that the one-time financial assistance can ease the financial burdens of our EC pensioners during this trying time. Rest assured that ECC is tirelessly working to provide more assistance to our workers,” she assured.

The ECC is a government corporation attached to DOLE for policy coordination and guidance. It was created by Presidential Decree 626, as amended and as embodied in Title II of Book IV of the Labor Code of the Philippines. The ECC is mandated to provide meaningful and appropriate compensation to workers and their dependents in the event of work-related contingencies such as sickness, injury, disability, or death.

PAL flight marks resumption of OFW deployment to Saudi

By Recto Mercene

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@rectomercene

BOUT 200 Saudi Arabia-bound overseas Filipino workers (OFWs) were able to board their Philippine Airlines flight on Tuesday following the lifting of a temporary suspension of deployment order issued by the Department of Labor and Employment (DOLE) on May 30.

The departing OFWs were made to comply with strict protocols related to Covid-19 test, including the possession of Overseas Employment Certification (OEC), visas and RT-PCR negative test results issued within the last 72 hours.

“We issue them boarding passes if there are available seats on a first come, first

serve basis but we prioritized OFWs with confirmed booking for the day,” said an employee who asked not to be named.

The A330-300 passenger airplane carrying the OFWs has a maximum seating capacity of 450 but PAL said it did not fly on full capacity to allow social distancing in the aircraft.

Meanwhile, many of the estimated 500 OFWs bound for Saudi Arabia that were offloaded by the DOLE order remain stuck in Manila.

They were quarantined in governmentapproved hotels but are reportedly frustrated that they are unable to take a flight to Saudi Arabia because most of the flights are fully booked for the next few weeks.

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Wednesday, June 2, 2021

The World BusinessMirror

Businesses shut as Malaysia enters 2nd Covid lockdown

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UALA LUMPUR, Malaysia— Malls and many businesses in Malaysia shuttered Tuesday as the country began its second nationwide lockdown to tackle a worsening surge of the coronavirus that has put its health-care system on the verge of collapse.

The Southeast Asian nation imposed a partial lockdown on May 12, banning all social activities but allowing the economic sector to operate. Prime Minister Muhyiddin Yassin caved in to growing calls for large-scale lockdown after daily infections breached 8,000 on Friday and soared to a record 9,020 on Saturday.

“If this drastic action is not taken immediately, it is feared t h at ou r hea lt h- c a re s ystem will collapse and we will face a bigger catastrophe,” Muhyiddin said in a national broadcast late Monday.

This will be the country’s second nationwide lockdown since the start of the pandemic and it risks derailing its economic recovery. To help cushion the

fallout from the new lockdown, Muhy iddin announced a new 40-billion ringgit ($9.7 billion) stimulus package.

Businesses will be closed for two weeks until June 14, except for those in 17 essential sectors including banking, media, food and beverage. Over a dozen manufacturing sectors are also allowed to operate at 60 percent capacity, including electrical and electronics and oil and gas. The plantation, agriculture, fishery and critical construction sectors are also exempted.

Schools have already moved to on l i ne c l a sses a nd i nter district travel has been banned since early May. Restaurants can stay open for pick-up and deliver y ser vices. Only two in a

household can travel to buy necessities within a 10 -kilometer (6 miles) radius, and three for medical reasons. Residents can jog in their neighborhood but no cycling is allowed.

I n K u a l a L u m p u r, p o l i c e checked vehicles entering the city. Some 800 roadblocks have been set up nationwide, espec i a l ly nea r f r inges of tow ns where compliance is low. A lthough there is no curfew, nearly all businesses allowed to remain open must shut by 8 p.m.

Infections in Malaysia have c limbed since many people breached safety rules to return to their hometowns during the recent Muslim Eid festival. Daily cases crossed 6,000 on May 19 for the first time and topped 9,000 within 10 days. Malaysia’s tally has surged five-fold since last year to 572,357 infections since the pandemic began and 2,796 deaths.

Although daily infections slid to the 6,000 range since Sunday, hea lth director-genera l Noor Hisham Abdullah has warned the country is “not out of the woods” as more infectious variants are present in nearly every state.

Wit h intensive ca re wa rd s hitting ma ximum capacit y, the Hea lt h Minist r y has wa r ned doctors may event u a l ly have to ma ke t he ha rd dec ision of a l lot t ing bed s to Cov id-19 pa-

t ients w it h a bet ter potent i a l to recover. T he m i l it a r y has set up f ield hospit a ls in some a reas a nd severa l gover nment hospit a ls a re using sh ipping cont a iners to store bod ies as fat a l it y c l imb.

T he gover nment is ra mping up its vacc inat ion ca mpa ig n by set t ing up mass vacc inat ion centers, as wel l as a l lowi n g d r i ve - t h rou g h s a nd t he use of mobi le t r uc k s in some pl aces. Hu nd red s of pr iv ate c l inics a nd hospit a ls a re a lso author ized to prov ide vaccinat ions, wh i le businesses have t a ken t he init i at ive to speed up inoc u l at ion for t heir st a f f.

Malaysia hopes to inoculate 80 percent of its 33 mi l lion people by the end of the year.

Vaccination is voluntar y and so far only about 3 million people out of 12 million who have registered have received at least one dose.

T he new stimulus package announced by Muhyiddin late Monday included handouts for the poor, subsidies and loan moratorium aid for businesses.

Mu hy idd i n a l so sa id t h at he a nd h is C abinet m inisters w i l l donate t hree mont hs of t heir sa l a r ies to t he nat ion’s Cov id-19 f u nd.

Malaysia’s economy has contracted for four straight quarters through March. AP

Study blames climate change for 37% of global heat deaths

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ore t ha n one -t hird of t he world ’s he at deaths each year are due directly to global warming, according to the latest study to calculate the human cost of climate change.

But scientists say that’s only a sl iver of c l i m ate’s overa l l toll—even more people die from other extreme weather amplified by global warming such as storms, f looding and drought— and the heat death numbers will grow exponentially with rising temperatures.

Dozens of researchers who looked at heat deaths in 732 cities around the globe from 1991 to 2018 calculated that 37 percent were caused by higher temperatures from human-caused warming, according to a study Monday in the journal Nature Climate Change.

That amounts to about 9,700 people a year from just those cities, but it is much more worldwide, the study’s lead author said. “ T he s e a re d e at h s re l at e d t o he at t h at a c t u a l l y c a n b e p r e v e nt e d . It i s s o m e t h i n g w e d i re c t l y c au s e ,” s a id A n a Vicedo- Cabrera, an epidem iolo g i s t at t he I n s t it ut e of

Soc i a l a nd P re vent at ive Med ic i ne at t he Un iversit y of B er n i n Sw it z e r l a nd .

The highest percentages of heat deaths caused by climate change were in cities in South America. Vicedo-Cabrera pointed to southern Europe and southern Asia as other hot spots for climate change-related heat deaths.

São Paulo, Brazil, has the most climate-related heat deaths, averaging 239 a year, researchers found.

About 35 percent of heat deaths in the United States can be blamed on climate change, the study found. That’s a total of more than 1,100 deaths a year in about 200 US cities, topped by 141 in New York. Honolulu had the highest portion of heat deaths attributable to climate change, 82 percent.

Scientists used decades of mortality data in the 732 cities to plot curves detailing how each city’s death rate changes with temperature and how the heatdeath curves vary from city to city. Some cities adapt to heat better than others because of air conditioning, cultural factors and environmental conditions, Vicedo-Cabrera said. AP

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

Vietnam asks Samsung, other firms to find Covid-19 vaccines

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ietnam is asking Samsung Electronics Co. and other foreign companies to find Covid-19 vaccines for their workers as the nation grapples with a virus surge, the government website reported.

“The government is encouraging companies to find Covid-19 vaccines for their workers,” Bui Hoang Mai, head of the industrial park management board in the northern province of Bac Ninh, where Samsung operates factories making its smartphones, said by phone.

Vietnam Prime Minister Pham Minh Chinh also asked local authorities to find a vaccine supply, the government website reported, citing information from the premier’s visit to a Samsung plant in Bac Ninh. A representative of Samsung Vietnam was not immediately available for comment.

Authorities in Bac Ninh have ordered factories to set up on-site sleeping arrangements for workers and put in place other procedures to enable operations to continue while containing the virus.

In nearby Bac Giang province, home to Apple Inc. and Samsung

suppliers, officials are working to help factories reopen after they were shuttered during the closure of four industrial parks.

The health ministry has sent 200,000 vaccine doses each for Bac Ninh and Bac Giang workers to be administered within a week, according to the ministry’s website.

More than 1 million people in Vietnam, or about 1 of the nation’s population, have received at least a first vaccine dose, while just over 28,500 were fully vaccinated, according to the health ministry. Vietnam has reported 4,163 local virus cases from April 27 out of a total 7,168 patients and 47 deaths, according to the health ministry.

Vietnam’s aviation authority suspended all international flights to Hanoi’s Noi Bai International Airport between June 1 and June 7, the regulator said on its website.

The authority extended similar restrictions on international flights to Ho Chi Minh City’s Tan Son Nhat International Airport by 10 days to June 14.

Vietnam halted most international commercial flights in early December. Bloomberg News

Australian court upholds ban on most international travel

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ANBERRA, Australia—An Australian court on Tuesday rejected a challenge to the federal government’s draconian power to prevent most citizens from leaving the country so that they don’t bring Covid-19 home.

Australia is alone among developed democracies in preventing its citizens and permanent residents from leaving the country except in “exceptional circumstances” where they can demonstrate a “compelling reason.”

Most Australians have been stranded in their island nation since March 2020 under a government emergency order made under the powerful Biosecurity Act. Libertar ian group Libert yWorks argued before the full bench of the Federal Court in early May that Health Minister Greg Hunt did not have the power to legally enforce the travel ban that has prevented thousands of Australians from attending weddings and funerals, caring for dying relatives and meeting newborn babies.

LibertyWorks law yer Jason Potts argued that Australians had a right to leave their country under the International Covenant on Civil and Political Rights that Australia had ratified.

But the three judges ruled that submission was based on the “erroneous premise that the right is absolute.”

LibertyWorks’ lawyers also argued that such a biosecurity control order could only be imposed on an individual rather than an entire population. The order could only be imposed if that individual had symptoms of a listed human disease, had been exposed to such a disease or had failed to comply with travel requirements.

The judges ruled that that interpretation of the law would frustrate Parliament’s clear intentions when lawmakers created the emergency powers in the Biosecurity Act in 2015.

“It may be accepted that the travel restrictions are harsh. It may also be accepted that they intrude upon individual rights,” the judges said in their ruling. “But Parliament was aware of that.”

LibertyWorks President Andrew Cooper did not immediately respond to a request for comment on the ruling.

He had expected hundreds of thousands of Australians to fly within weeks if he had won.

Critics of the emergency order argue it is harshest for the 30 percent of Australians who were born overseas.

The government says tough border controls have played an important part in Australia’s relative success in containing Covid-19 spread.

Surveys suggest most Australians applaud their government’s drastic border controls.

The Australian newspaper published a survey last month that found 73 percent of respondents said the international border should remain closed until at least the middle of next year.

Australian Broadcasting Corp. last week reported its own sur vey had found 79 percent of respondents agree the international border should stay shut unt i l t he pandemic is under control globally.

Critics of the Australian travel restrictions argue that decisions on who can travel and why are inconsistent and lack transparency.

Esther and Charles Baker, an ultra-Orthodox Jewish couple from Melbourne, were twice refused exemptions to f ly to New Jersey to attend their youngest son’s wedding in June last year.

They appealed to the Federal Court, citing religious and cultural reasons among their exceptional circumstances. But a judge dismissed their case and ordered the couple to pay the government’s legal costs for their challenge.

A person at the center of a coronavirus cluster in Australia’s second-largest city, Melbourne, had been allowed to attend a wedding in India. He was not infected in that country but rather during the required 14-day hotel quarantine upon his return. Authorities say he was infected by a traveler in another room on his floor and that the virus was carried in the air.

Melbourne began a seven-day lockdown on Friday due to the cluster that by Tuesday had grown to more than 50 cases.

Australia and New Zealand opened a quarantine-free travel bubble in April and hope to create such bubbles with other countries in time. AP

www.businessmirror.com.ph

The World BusinessMirror

Wednesday, June 2, 2021

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Officials from around the globe take part in online climate talks B ERLIN—Officials from around the globe begin three weeks of grueling climate talks Monday that will involve grappling with a number of thorny political issues without the benefit of face-to-face meetings, due to pandemic restrictions.

The UN climate office in Bonn, Germany, has designed a schedule of virtual sessions that will see negotiators share the burden of joining meetings before dawn, during the

afternoon or late at night—depending on their respective time zones. “ This is not ideal at all,” said Marianne Karlsen, who chairs one of the two international bodies holding talks. “We wanted to have all these interactions that we have when we are in an in-person setting, but we do not have any other options.”

Tosi Mpanu Mpanu, who chairs the second body at the talks, said that although negotiators would

not be able to encourage each other “w ith a friendly tap on the shoulder,” he hopes that “we’re going to be engaging on substantive issues and really tr y to make progress.”

Negotiations will focus on resolving some of the outstanding issues arising from the 2015 Paris climate accord, including rules for international carbon markets, harmonizing countries’ timeframes for reducing greenhouse gas emissions and provid-

ing aid to developing nations. Progress on all of those issues is seen as key to making the UN climate summit in Glasgow, Scotland, in November a success. However, due to concerns about the format, no official decisions are expected at the virtual talks that run until June 17. “ We need to show up in Glasgow w ith decisions ready to be taken,” said the head of the UN climate office, Patricia Espinosa.

In particular, a pledge to provide $100 billion in financial support each year to poor countries to tackle climate change has yet to be fulfilled.

“The $100 billion has become one element that is crucial to building trust, but it goes beyond the $100 billion,” Espinosa told reporters.

The Glasgow summit will be a crucial test for international efforts to curb global warming before it reaches critical levels in the coming decades.

Signatories of the Paris accord agreed to limit the rise in average temperatures to well below 2 degrees Celsius (3.6°Fahrenheit), ideally no more than 1.5 C (2.7°F), by the end of the century compared with pre-industrial times. But with global warming already at about 1.2°C (2.2°F), scientists say drastic steps are needed to cut the amount of carbon dioxide and other planet-heating gases released into the atmosphere. AP

A8 Wednesday, June 2, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Supply chain issues hound PHL exporters

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ore than a year after the Covid-19 pandemic first broke out in China, business activities are coming back with a vengeance, thanks in large part to the early rollout of China’s vaccination campaign. In the United States, 60 percent of American adults have gotten at least one dose of a coronavirus vaccine, according to the US Centers for Disease Control and Prevention. Business centers in European countries, like Madrid in Spain, are mulling over the easing of Covid-19 restrictions due to falling infections and rising vaccination rates.

The World Trade Organization (WTO) said in March that demand for traded goods will be driven by North America, which it attributed to the large fiscal injections in the US. The report noted that this could stimulate other economies through the trade channel. Europe and South America, it added, will see import growth of around 8 percent this year.

According to the WTO, much of global import demand will be met

by Asia. Exports from Asian countries including China are expected to expand by 8.4 percent this year. However, not all exporters in the region would benefit from this boom in trade this year due to constraints that would make it difficult for Asian nations like the Philippines to expand shipments to their major markets.

Philippine exporters, for instance, are grappling with a number of supply chain and logistics issues, including the lack of vessel space, soaring freight rates and container shortage that are resulting in shipment delays and losses. The Philippine Exporters Confederation Inc. (Philexport) said on May 28 that exporters lamented the increasing difficulties in getting their shipments on board international shipping lines to their international customers. One executive even warned that if the problem is not addressed, it could turn into a crisis worse than the recurring port congestion.

Philexport had warned in March that exporters had been experiencing delays in shipments ranging from two weeks to a month (See, “PHL exporters chafe as pandemic delays product shipments,” in the BusinessMirror, March 26, 2021). Two months after, the delays had stretched to more than two months because companies could not secure vessel space for their export goods. Some exporters could not accept reorders because they have yet to deliver the previous order made by foreign buyers.

Freight rates have tripled or quadrupled in recent weeks, according to Philexport. The rise in freight rates is also affecting food importers as their shipping costs went up by 65 percent in the second quarter (See, “Shipping charter rates up 65% in Q2, food importers hurting,” in the BusinessMirror, May 24, 2021). A businessman told this newspaper that the movement of charter rates and freight costs will depend largely on the pace of the vaccination campaign of countries.

Policy-makers must sit down with exporters and importers immediately to prevent the supply chain constraints from widening the losses being incurred by local traders. The surge in freight rates and shipping costs is also posing a threat to the country’s food security as the container crisis is compounding the sourcing problems of our traders (See, “Food shortage seen on global supply woes,” in the BusinessMirror, March 26, 2021). Philexport has proposed solutions to help ease the worsening supply chain challenges. The government needs to do its part and start tackling the supply chain constraints that can adversely affect the country’s food security.

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All About Social Security

I

was recently invited to be a principal sponsor to the wedding of the son of one of my long-time friends. As the wedding will be held during this time of quarantine lockdowns and health protocols, I was informed that it will be an online wedding and that further details about the attendance of the principal sponsors will be relayed to me soon. As we discussed the couple’s plans for their future—including where they will be settling down—she mentioned that they have been discussing about purchasing a foreclosed home instead as they save up for their ultimate dream home.

The couple later asked me about the possibility of buying foreclosed Social Security System properties.

But before I answered, I asked them why they preferred a foreclosed property as their starter home over a rented, pre-sale, or ready-to-occupy unit or property. The couple said they did some preliminary research and discovered SSS foreclosed properties that are up for sale. I also asked if they have properly weighed the pros and cons of their choice, because foreclosed properties sold by SSS are generally just the basic structure or set-up with no improvements or repairs made. The downside is that if they find anything that needs replacement, they will have to shoulder the cost of repairs or renovation.

The advantage, however, is they can move in as soon as the sale is finalized, and that such properties are typically cheaper than the new ones’ being sold in the market.

Many members are unaware that SSS manages foreclosed properties. These are properties mortgaged to the SSS but were foreclosed because the owner failed to meet the contract obligations.

Interested buyers must inspect the property first before submitting their application because these are sold on an “as is, where is” basis. Once you have selected the property you wish to purchase, submit the duly accomplished application form with supporting documents and down payment to the Housing and Acquired Assets Management Section (HAAMS) for evaluation.

If HAAMS finds the buyer qualified, a proposal to purchase will be prepared for approval of the authorized authority from SSS and subject to the confirmation of the Social Security Commission. The contract covering the sale will also be for-

warded to the Office of the Government Corporate Counsel (OGCC) for approval.

Once approved by the OGCC, the buyer must execute a Deed of Conditional Sale if payment is on instalment, or a Deed of Absolute Sale for cash sale. If the buyer opts to pay on instalment, 12 post-dated cheques covering the first year of amortization should be submitted. As part of the requirement for purchasing an SSS acquired property, the buyer must pay the corresponding down payment equivalent to 5 percent of the selling price if the selling price is P500,000 and below, or 10 percent if the selling price is above P500,000. For cash purchases, the balance of the selling price must be settled in full within 30 days upon receipt of the notice of approval of sale.

Other qualifying conditions include: The buyer must be a Filipino citizen of legal age, a person authorized by law to acquire, own, or hold properties in the Philippines, may be self-employed, informal sector worker, or OFW, and may be an SSS member or non-member. These properties may also be purchased by the former owner or successor-in-interest, such as the legal spouse, children, and parents, who currently reside in the property being sold. They must also submit documents such as two valid government-issued IDs with photo and signature, copy of Birth Certificate and, if married, a copy of Marriage Certificate issued by the Philippine Statistics Authority, proof of residence such as recent billing statement, barangay certificate issued

Clemency for delisted seafarers

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Aurora C. Ignacio

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

How to acquire foreclosed SSS properties

Dennis Gorecho

Pinoy Marino Rights

A

seafarer who is penalized with delisting from the registry of the Philippine Overseas Employment Administration (POEA) may be granted clemency under certain circumstances.

Clemency is the power given to a public official to lower the harshness of punishment imposed upon an erring person.

The maximum penalty of disqualification from participation in the overseas maritime employment program or delisting from the POEA registry may be imposed upon an erring seafarer, depending on the gravity of the offense committed.

When a seafarer commits an act considered as an offense under the POEA contract, he may be penalized by the master of the vessel with dismissal and be made to pay the cost

of repatriation and his replacement.

Additionally, an administrative complaint or disciplinary action against the seafarer may be filed before the POEA, who, after due investigation, may impose penalties ranging from suspension to delisting, depending on the frequency of the violation.

Under the POEA rules, in the determination of the penalties to be imposed against a seafarer, the following mitigating, aggravating and alternative circumstances attendant to the commission of the offense shall be considered: first

offender; admission of guilt and voluntary restitution, where applicable; good faith; exemplary performance; habitual offender; prejudice to the seafarer; gross negligence; or other analogous circumstances.

In the actual imposition of penalties, due consideration must still be given to the seafarer’s length of service and the number of violations committed during his employ.

Where a penalty less punitive would suffice, like suspension or reprimand, whatever missteps may have been committed by the worker ought not to be visited with a consequence so severe such as dismissal or delisting.

In granting clemency, the POEA will take into account any of the following conditions: the seafarer is a first time offender; the offense committed does not involve a serious offense, or crime involving moral turpitude, misrepresentation or theft; or he should have served at least 75 percent of the period of the penalty imposed; and the case has been settled/resolved with the offended party.

in the last six months.

For employed buyers, they must also present a Certificate of Employment with Compensation, latest two-month pay slips, and the latest Income Tax Return. Selfemployed buyers must also provide as Affidavit of Income or latest ITR, DTI Registration, and Business Permit. For OFWs, the documents they need to present will include Job Contract or Certificate of Employment, latest two-month pay slips, Special Power of Attorney, and proof of remittance.

As of March 2021, there are around 75 foreclosed properties available for sale all over the Philippines. Nine properties are located in the National Capital Region and Rizal, seven in Central Luzon, six in Southern Luzon, two in Central Visayas, 50 in Southern Mindanao, and one in Western Mindanao.

The list of available SSS properties for sale are regularly posted at the SSS web site (www.sss.gov.ph). For further details, interested buyers may send an e-mail to the HAAMS Department at haamd@sss.gov.ph or any of the respective HAAMS Section Service Office to inquire about the available acquired assets for sale. In addition, regional HAAMS are located in SSS offices in SSS Tarlac, SSS San Pablo, SSS Cebu, SSS Davao, and SSS Zamboanga.

Have a happy workweek ahead!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

There are actuations that the seafarer will immediately be meted with delisting from the POEA registry or automatic disqualification from maritime employment.

Two of the acts fall under the category of smuggling or violation of any custom rules and regulations of the Philippines and of foreign port specifically (a) possession or use of prohibited drugs, narcotics and other contraband and (b) gun-running or possession of explosives and the like.

Another act falls under insubordination, which is assaulting a superior officer or other persons on business with the ship with the use of deadly weapon. A seafarer may also be delisted if he is guilty of deserting or attempting to desert.

On the other hand, an official may be delisted if he committed grave abuse of authority (with the use of deadly weapon) resulting in harm or injury to subordinates.

Dismissal is the ultimate penalty that can be meted to a seafarer because his job is considered as property.

See “Gorecho,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Who benefits? US debates fairest way to share spare vaccine

Skills needed in the future, confirmed Dr. Carl E. Balita

Entrepreneurs’ Footprints

By Zeke Miller | Associated Press

W

ASHINGTON—In April, the Biden administration announced plans to share millions of Covid-19 vaccine doses with the world by the end of June. Five weeks later, nations around the globe are still waiting—with growing impatience—to learn where the vaccines will go and how they will be distributed.

To President Joe Biden, the doses represent a modern-day “arsenal of democracy,” serving as the ultimate carrot for America’s partners abroad, but also as a necessary tool for global health, capable of saving millions of lives and returning a semblance of normalcy to friends and foes alike.

The central question for Biden: What share of doses should be provided to those who need it most, and how many should be reserved for US partners?

The answer, so far at least, appears to be that the administration will provide the bulk of the doses to COVAX, the UN-backed global vaccine sharing program meant to meet the needs of lower income countries.

While the percentage is not yet finalized, it would mark a substantial—and immediate—boost to the lagging COVAX effort, which to date has shared just 76 million doses with needy countries.

The Biden administration is considering reserving about a fourth of the doses for the US to dispense directly to individual nations of its choice.

The growing US stockpile of Covid-19 vaccines is seen not only as a testament to American ingenuity, but also its global privilege.

More than 50 percent of Americans have received at least one dose of the vaccine, and more than 135 million are fully vaccinated, helping bring the rate of cases and deaths in the US to the lowest level since the earliest days of the pandemic.

Scores of countries have requested doses from the United States, but to date only Mexico and Canada have received a combined 4.5 million doses. The US also has announced plans to share enough shots with South Korea to vaccinate its 550,000 troops who serve alongside American service members on the peninsula.

The broader US sharing plan is still being finalized, a White House official said, having been the subject of policy debate inside the White House and across the federal government, and also involving COVAX and other outside stakeholders like drug manufacturers and logistics experts.

“Our nation’s going to be the arsenal of vaccines for the rest of the world,” Biden said on May 17, when he announced the US pledge to share more doses. He added that, compared to other countries like Russia and China that have sought to leverage their domestically produced doses, “we will not use our vaccines to secure favors from other countries.”

Still, the partnership with the South Korean military points to the ability of the US to use its vaccine stockpile to benefit some of its better-off allies. It was not clear whether South Korea would pay for its doses from the US. Most of the other doses were expected to be donated.

Samantha Power, the new USAID administrator, provided the first indication of the likely allocation last week in testimony on Capitol Hill.

She told the Senate Appropriations Committee that “75% of the doses we share will likely be shared through COVAX. Twenty-five percent of whatever our excess supply that we are donating will be reserved to be able to deploy bilaterally.”

Administration officials cautioned that Biden had not yet signed off on the precise split and that it could still change. The White House official, who spoke on condition of anonymity to discuss internal plans, said the administration would be working in coming days to synchronize its supplies with the global vaccine sharing organizations.

Biden has committed to provid-

As part of its purchase agreements with drug manufacturers, the US controlled the initial production by its domestic manufacturers. Pfizer and Moderna are only now starting to export vaccines produced in the US to overseas customers. The US has hundreds of millions more doses on order, both of authorized and in-development vaccines. ing other nations with all 60 million domestically produced doses of the AstraZeneca vaccine. That vaccine has yet to be authorized for use in the US but is widely approved around the world. The US-produced doses will be available to ship as soon as they clear a safety review by the Food and Drug Administration.

The president also has promised to share 20 million doses from existing production of Pfizer, Moderna and Johnson & Johnson vaccine stocks. Even more doses are expected to be made available to share in the months ahead.

As part of its purchase agreements with drug manufacturers, the US controlled the initial production by its domestic manufacturers. Pfizer and Moderna are only now starting to export vaccines produced in the US to overseas customers. The US has hundreds of millions more doses on order, both of authorized and in-development vaccines.

“It’s obviously challenging because so many countries face this need right now,” Power said, calling the decision of where to send doses “an urgent question.”

The decision, she continued, hinges on some combination of “the relationship we have with the countries, the public health and epidemiological scientific trajectory of the disease, and a sense of where the vaccines can do the most good, the infrastructure and readiness of countries to receive vaccines.”

The US under Biden also has pledged $4 billion to COVAX, led by Gavi, the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations and the World Health Organization, to help it procure and distribute vaccines. COVAX has committed to sharing the doses with more than 90 countries, including many with which the US has tumultuous relations. Leaving it to COVAX to decide how the bulk of the US-provided doses are distributed is seen by the administration as the most equitable way to determine who benefits. It also could allow the US to avoid any political fallout that might come from sharing the vaccine directly with adversaries.

“It’s not only a symbol of American values — it’s smart global health policy,” said Tom Hart, acting CEO of the ONE Campaign, which has pressed the Biden administration to move faster to develop its global sharing plan. “An outbreak in North Korea or Iran or somewhere else where we might have tensions, viruses travel no matter where they’re flourishing, and I don’t want a variant cooking up in some remote part of the world, anywhere in the world, which then might get around the current vaccines that we’ve got.”

Even if the bulk of the US-shared doses are distributed through COVAX, Power told senators, “It will be very clear where those doses are coming from.”

“People will be very clear that these are American doses coming as a result of American ingenuity and the generosity of the American people,” she added.

Wednesday, June 2, 2021 A9

I

N anticipation of the new requirements of the new world order, we need to understand how the pandemic disruption has changed the landscape of the workplace. The most important resource, the human resource, needs to be understood so that education and training can reconfigure and redesign while the workplace retools its current workforce. The good news is that the very technological disruption that is transforming jobs can also provide the key to creating them— and help us learn new skills to remain relevant.

Respondents to the recent Future of Jobs Survey estimate that around 40 percent of workers will require reskilling of six months or less. Half of us will need to reskill in the next five years, as the “double-disruption” of the economic impacts of the pandemic and increasing automation transforming jobs takes hold. Also alarming is the finding that only an average of 6 percent of adults demonstrated the highest level of proficiency in problem solving in technology-rich environments.

Based on the World Economic Forum 2020 report, 50 percent of all employees will need re-skilling by 2025, as adoption of technology increases. Critical thinking and problem-solving top the list of skills employers believe will grow in prominence in the next five years. There are also new emerging skills related to self-management such as active learning, resilience, stress tolerance and flexibility.

This writer conducted a survey among 58 top business executives, 68 percent are owners, to confirm the 10 skills needed in the future world of work against what the skills that the World Economic Forum also identified as less important and declining in terms of demand.

The top 5 skills of the future

While the interest is not to rank the skills, the data generated from the survey present the intensity of preference expressed by the respondent

business executives. Note that most of the skills are soft-skills, which in the past were not on the priority list of competencies required in the world of work.

The highest rate is given to Analytical Skills, which is the ability to breakdown or deconstruct the whole into integrative smaller parts or categories to draw out meaningful conclusions. It is demonstrated in detecting patterns and trends, data mining, brainstorming, observing, interpreting data, and making decisions based on the multiple factors and options available. An analytical mind starts with interrogating the problem space before the answer, as Voltaire counselled “judge a man by his questions rather than his answers.”

The close second ranked skill is Innovation Skills, which is the ability to generate and exploit new ideas for their social and economic or commercial value. It is anchored on the quest for continuous improvement of what is here and now. Innovation increases adaptability and discovery of new opportunities.

Active Learning Skills follows, which is the “learning to learn” skill attributed to being a lifelong learner.

Given the volatility and uncertainty of the current times and the future, lifelong learners are assured of their ability to assimilate new competencies to remain relevant.

Technology Design Skills include not only the use but also the ability

to integrate transformative and productive technology as an indispensable tool of the current and future workplace. In the Fourth Industrial Revolution, it is imperative that workers have the ability to transform and change businesses and organizations toward a more humanized technology, innovative systems and better customer experience. Technology Design Skills is a strategic enabler as it shapes desirable products, services and experiences for people.

Emotional Intelligence is an encompassing concept that covers, in its intrapersonal level, the awareness and control of feelings aligned with clear motivation, and in its interpersonal level, the empathy and social skills. It recognizes the ability to generate, express, regulate, and appraise emotions as a powerful force on how a person thinks, feels and behaves.

The next five skills of the future

Leadership and Social Skills were also confirmed to be required skills of the future. Leadership is the ability to influence through trust towards a shared vision, regardless of organizational position. Leadership anchors on effectiveness and regards the primacy of people and purpose.

Social Skills refer to the ability to relate effectively with people towards a collaborative and harmonious interaction towards a mutual goal.

Social skills breed collaboration and synergy.

Systems Analysis is the problemsolving process of observing wider systems, breaking apart the parts and figuring out how it works in order to achieve a particular goal.

A person with Systems Analysis Skills is able to recognize the whole as greater than the sum of its parts, and regards that the part cannot be understood if isolated from the whole. Systems Analysis enables a person to see parts in the context of the big picture of the more complex inter-connected whole.

Reasoning and Ideation Skills refer to the ability to give logical connectedness of perspectives, concepts and experiences for the generation and creation of ideas. The person with this skills is able to engage in

deep thinking and has the courage to formulate logical ideas beyond the status quo.

Creativity and Originality are competencies that tap the imagination to generate ideas that are novel, new and different—outside the box.

It is anchored on open-mindedness that nurtures ideas and inspires collective and co-creative thinking.

Critical Thinking Skill is the ability to suspend judgment or conclusion to give more time to the generation of more information and evidences so as to be more objective in thinking, decision and action.

The less preferred skills

The survey also confirms that there are skills that the business executives prefer less over the above cited skills. This includes memory, precision skills, technology maintenance skills, reading and writing skills, auditory and speech skills, management of personnel, quality control, and management of material resources. Less preference is also given to time management and endurance skills. While these were significant in the past, in terms of educational outcomes and job requirements, the future seems to give less value to them as the work environment has changed and will continue to change.

As competency has broadened in context to cover the knowledge, skills, attitude and habits, education and learning should be more dynamic like never before. Many of the changes that we observe in the workplace are bound to be permanent. Forced into these changes, some may still resist in a state of denial. But as companies and organizations have already digitally transformed and learned the new norms of work, the competencies of the human resource will need to embrace the new world order. The future will render some of the old competencies as irrelevant and mere footprints of the past—whether we like it or not.

And the most important skill is the ability to change—and humanity at this point is still learning.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

China’s three-child policy may do little to boost birthrate

C

hina’s surprise decision to allow all couples to have a third child may be too little too late to reverse the nation’s declining birthrate and shrinking workforce.

Economists and demographers say authorities will need a range of supportive policies on childcare and measures to curb high education and housing costs to make it viable for couples to expand their families.

China has been gradually reforming its stringent birth policy that for decades limited most families to having only a single child. In 2016, couples were allowed to have a second baby, although that did little to boost the birthrate. In a meeting presided over by President Xi Jinping on Monday, the Communist Party’s Politburo agreed to ease the current two-child restriction and also raise the retirement age in a bid to boost the labor force.

“It is an important policy move, but the three-children policy alone will not lead to a sustained rebound in the fertility rate,” said Yuan Xin, a professor at Nankai University in Tianjin. “A whole package of services and policies, such as childcare, tax-rebates for parents, housing subsidies and even gender equality, are needed to create a social environment that encourages parents to have more babies.”

Some government officials, including researchers at China’s central bank,

Gorecho. . .

continued from A8

The Constitution commands that no person shall be deprived of life, liberty or property without due process of law, nor shall any person be denied the equal protection of the laws.

The POEA contract requires compliance with two basic requirements for a lawful dismissal: a just or au-

have called for birth limits to be abolished entirely. The debate was intensified after the results of China’s latest national census showing a decline in the country’s working-age population over the last decade. The declining birthrate means China’s population, currently at 1.41 billion, may begin to shrink before 2025, according to Bloomberg Economics estimates. There were 12 million new babies born last year amid the uncertainties of the coronavirus pandemic, the lowest number since 1961.

Yuan of Nankai University said a fertility rate of 1.8 is ideal for healthy population growth. The rate is currently at 1.3.

China’s fertility rate began a steady decline from the 1970s, as education levels increased and the government encouraged rural women to have fewer children, culminating in the national “one child” policy which applied to most women from the end of that decade. The rules were often harshly enforced, especially in countryside areas where officials sometimes ordered women to have abortions.

China’s new three-child policy is a step in the right direction but it’s not enough to head off an inevitable demographic drag on the economy. Other steps, including birth- and parentingfriendly policies and an increase in the pension age, are needed as quickly as possible if China stands a chance of slowing

a looming decline in its workforce and crunch from an aging population, said Eric Zhu, Bloomberg China economist.

A lower birthrate and bigger elderly population is putting pressure on the economy and government resources.

To maintain economic growth, Beijing will need to rapidly increase spending on pensions and health care while maintaining a high level of corporate and state investment in order to upgrade its vast industrial sector and increase education levels, according to economists.

“A comprehensive policy package ranging from tax incentives, education and housing subsidies, more generous maternity leave, universal provision of child care” is needed for the three-child policy to be effective, said Liu Li-Gang, managing director and chief China economist at Citigroup Inc. The government will need to rebuild the social safety net, as well as contain housing prices and reduce education costs, he said.

China has maintained rapid economic growth in recent decades despite its slow population growth, with migration to cities propelling a shift from agriculture to factory and service work, which increased economic output per worker.

The current proportion of people living in urban areas of about 64 percent is roughly on par with the US in 1950, suggesting potential for further catch-up.

Policy mix

thorized case as prescribed by law, and observance of due process. The former comprises the substantive requirement, and the latter constitutes the procedural requirement for a valid dismissal.

The burden of proving that the termination of a seafarer was for a just or authorized cause lies with the employer. If the employer fails to meet this burden, the conclusion would be that the dismissal was unjustified and, therefore, illegal.

To discharge this burden, the employer must present substantial evidence, which is defined as that amount of relevant evidence that a reasonable mind might accept as adequate to justify a conclusion, and not based on mere surmises or conjectures.

The penalties for administrative actions shall be separate and distinct from whatever appropriate criminal action that may be filed against the seafarer.

In case of an illegal dismissal, either there is no valid ground or he was not afforded due process under the “two-notice” rule, a seafarer is entitled to receive from his employers his salaries for the unexpired portion of his employment contract.

TO help sustain growth, China is looking to raising the retirement age, one of the lowest in the world, and increase urbanization. The government is aiming to gradually lift the retirement age from the current level of 60 years for men and as low as 50 for women, and plans for 50 million people to move permanently from rural to urban areas in the next five years to take up service and manufacturing jobs with higher wages.

The right mix of policies could mean China becomes the world’s largest economy, continuing to propel global demand for commodities in the coming decades, while its gray consumers become a vast market for multinationals, with a huge pool of pension savings targeted by global finance companies. A less effective response could mean China never overtakes the US in terms of economic size, or does so only fleetingly.

The trend toward fewer births is likely to continue even with a looser birth policy. As in East Asia and Europe, preferences have shifted toward smaller families. A spike in births following the previous relaxation to allow most families to have two children was short-lived, with many parents citing the high costs of housing and education as a limiting factor. Bloomberg News

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

A10 Wednesday, June 2, 2021

D.A. PANEL: IMPORT 55% OF MAV PLUS WITHIN JULY-SEPT

By Jasper Emmanuel Y. Arcalas

A

@jearcalas

DEPARTMENT of Agriculture (DA) interagency committee has recommended that 55 percent or about 110,000 metric tons (MT) of the pork minimum access volume (MAV) plus be imported within July to September to immediately boost domestic supply and temper retail pork prices.

The BusinessMirror learned that the interagency committee created by Agriculture Secretary William D. Dar and led by Agriculture Assistant Secretary Noel Padre has sent its recommendation for the pork MAV plus implementing guidelines to the MAV Management Committee (MAV-MC).

The recommendation includes allocating the additional 200,000 MT of pork MAV among existing MAV licensees, pork producers and

other importers/new entrants.

Based on the panel’s recommendation, 25 percent of the total volume shall be allocated for existing MAV licensees, another 25 percent for pork producers and the remaining 50 percent for the new entrants.

The committee also recommended that 55 percent of the pork MAV plus volume be made to arrive within July to September and the remaining volume of 90,000 MT within October until January 2022.

This recommendation by the interagency committee differs from the recommendation made by the MAV Advisory Council to equally divide the importation of the additional pork MAV volume across 12 months. (Related story: https://businessmirror. com.ph/2021/05/20/higherpork-mav-panel-pitches-1year-period/) Continued on A4

Fuel marking nets ₧236.5B for govt since 2019–DOF

T

By Bernadette D. Nicolas

@BNicolasBM

HE government has so far collected P236.49 billion in duties and taxes from its fuelmarking program since it started in September 2019.

The Bureau of Customs collected the bulk or P208.517 billion of the total while P27.97 billion came from the Bureau of Internal Revenue, based on an infographic shared by Finance Secretary Carlos G. Dominguez III with reporters.

During the reporting period, P24.34 billion liters of fuel was marked by the government.

Most of the fuel marked was die-

sel, cornering 60.74 percent or 14.79 billion liters, followed by gasoline with 38.73 percent or 9.43 billion liters; and kerosene with 0.53 percent or 131.63 million liters.

Taking the lion’s share of fuel marked was Luzon with 73.3 percent or 17.85 billion liters. Next to Luzon is Mindanao with 21.4 percent or 5.2 billion liters, and Visayas with 5.3 percent or 1.29

billion liters.

Twenty-four companies participated in the government’s fuelmarking program.

Leading the list was Petron with a 22.35-percent share in the total volume of marked fuel or 5.4 billion liters.

Trailing Petron is Shell with 19.54 percent or 4.76 billion liters, followed by Unioil with 10.39 percent or 2.53 billion liters, Seaoil with 8.09 percent or 1.97 billion liters and Insular Oil with 7.92 percent or 1.93 billion liters.

In February, House Ways and Means Committee Chairman Albay Rep. Joey Salceda revealed that government lost P357 billion due to fuel smuggling from 2010 to 2019.

While fuel marking helped lower smuggling, foregone revenues are still rising, Salceda said, because the Tax Reform for Acceleration

and Inclusion (TRAIN) law raised taxes on fuel products in 2018.

Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.

Under TRAIN, petroleum products that are refined, manufactured or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene, and diesel, shall be marked by an official marking agent after payment of taxes and duties.

The fuel-marking program was launched with the aim of halting illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.

House endorses 3rd Bayanihan bill for Senate approval

By Jovee Marie N. dela Cruz

T

@joveemarie

HE House of Representatives on Tuesday endorsed for Senate approval the proposed P401-billion Bayanihan to Arise as One Act or the Bayanihan 3.

This after lawmakers, voting 238 affirmative, zero negative with one abstention, approved on third and final reading House Bill 9411, authored by 298 representatives.

The bill includes a P2,000 ayuda for all Filipinos, to be disbursed in two tranches.

The measure provides the Department of Social Welfare and Development (DSWD) a total of P30 billion to implement Emergency Assistance to Affected Households (AICS), with P24 billion to be disbursed in the next two phases.

To protect MSMEs, a total of P20 billion shall be earmarked for small business wage subsidies (SBWS) and disbursed in three phases.

The bill also strengthens Republic Act 11037, or the Masustansyang Pagkain para sa Batang Pilipino Act of 2017, and Republic Act 11148 or Kalusugan at Nutrisyon ng MagNanay Act, with P5 billion in funding.

Standby funds of P30 billion shall also be earmarked for assistance to the agri-fishery sector, to be disbursed in two phases. Also, medical assistance to indigents and free swab tests for seafarers and overseas Filipino workers (OFWs) have been incorporated in the bill.

The bill also highlights the support to basic education—through the procurement of laptops for teachers, mobile and internet allowance for Department of Education (DepEd) personnel, distance learning modalities (online and broadcast platforms), radio-based instruction infrastructure (Last Mile Schools), and the provision of N95 masks for DepEd employees and teachers.

The revenue sources provision of the bill allows for provisional advances by the Bangko Sentral ng Pilipinas (BSP) to the national government, in an amount not exceeding 10 percent of the average income of the National Government for FYs 2018 to 2020.

Also, Section 35 of the measure allows the Secretary of Finance to increase by 25 percent the minimum required dividend remittances from government-owned and -controlled corporations (GOCCs), from the current 50 percent set by Republic Act No. 7656. Also, Section 36 allows

the President to authorize the withdrawal of capital from overcapitalized GOCCs, subject to conditions of continued viability.

House Committee on Economic Affairs Chairperson Sharon Garin has admitted that the Bayanihan is not part of the Legislative-Executive Development Advisory Council (Ledac) priorities.

However, Garin said the legislative and executive are still in talks on where the total funding for third Bayanihan law would come from.

The National Treasurer also has not issued a certification of availability of funds (CAF).

Albay Rep. Edcel Lagman, who abstained from voting, said the Bayanihan 3 does not comply with the mandatory requirement of the Constitution without the CAF. He said verification from National Treasurer Rosalia de Leon indicated “that there has been no formal request from the House of Representatives for the issuance of a certificate of availability of funds for Bayanihan 3. She [de Leon] added, however, that during discussions with the proponents of Bayanihan 3, she verbally informed them that presently there are no funds available,” Lagman said.

Priorities

A day before the sine die adjournment in the lower chamber, Lord Allan Velasco and Senate President Vicente Sotto III met on Tuesday to discuss their pending legislative measures and possible scenarios for President Duterte’s last State of the Nation Address (Sona) in July.

Just like last year, Velasco has said the President’s last Sona on July 26 could be done through “hybrid” session, where limited people were allowed inside the Batasang Pambasa.

The House also approved Resolution of Both Houses (RBH) No. 2, which proposes amendments to restrictive economic provisions in the 1987 Constitution, on final reading on Tuesday.

Sources from the House said the Bayanihan 3 and the RBH 2 are not included in the Senate priority list.

The Senate is expected to adjourn on Thursday.

The Senate, meanwhile, is expected to pass the Congress’ and President Duterte’s priority measures —creation of the overseas Filipinos department, the Public Service Act and Retail Trade Act. These measures have already been approved by the House.

The San Juan City government is expanding its vaccination program by opening Theatre Mall Cinemas 1 and 2 at Greenhills Mall starting June 1, in preparation for the vaccination of those falling under the A4 category. A dry run was conducted at the opening of the Theatre Mall Cinemas from 9 a.m. to 5 p.m. Inoculating the A4 category is necessary in jumpstarting the economy, Mayor Francis Zamora said. NONOY LACZA

House rushes 3rd reading OK of economic Cha-cha

By Jovee Marie N. dela Cruz

T

@joveemarie

HE proposal amending the “restrictive” economic provisions of the 1987 Constitution or the economic Charter-change on Tuesday secured more than the required threefourth votes of all members of the House of Representatives.

Voting 251 affirmative, 21 negative and 2 abstentions, the House passed on third and final reading the Resolution of Both Houses (RBH) 2.

The House will now transmit the measure to the Senate for its own deliberations. This, although Senate President Vicente Sotto III had said they will focus on the three economic measures certified urgent by the President, and which “economic Cha-cha” critics say best discount the need to amend the Constitution. These are amendatory bills to the retail trade liberalization, Foreign Investments Act and the Public Services Act. The senators have only two session days left before Congress goes on sine die adjournment until July 24.

Liberalize economic provisions

RBH2 authored by Speaker Lord Allan Velasco seeks to liberalize the “restrictive” economic provisions in the Constitution that prevent the Philippines from becoming fully competitive with its Asian neighbors.

It seeks to insert the phrase “unless otherwise provided by law” to several sections of the Constitution, which restrict foreign ownership of public utilities, educational institutions, media and advertising.

The proposal amends certain sections of Article XII (National Economy and Patrimony), Article XIV (Education, Science and Technology, Arts, Culture and Sports) and Article XVI (General Provisions).

The addition of the “unless otherwise provided by law” phrase will allow Congress to enact laws to free up the economy to foreign investors, or maintain the status quo, its proponents said. Velasco said Congress is eyeing to present to the public for ratification the amendments to the Constitution’s economic provisions alongside the national elections in 2022.

Senate action

House Ways and Means Chair-

man Joey Sarte Salceda, a principal sponsor of the proposed RBH 2, said he believes there is time to complete the legislative process in the proposal “in time for plebiscite in 2022.” Salceda also renewed calls for the Senate to pass its own counterpart measure.

“The ball is now with the Senate. One thing the House leadership has proven with our expeditious passage of economic reforms is that we are not standing in the way of tunay na pagbabago on the economic front. Speaker Velasco has promised to be a modernizing force in policymaking, and so far, he has delivered,” Salceda said.

Salceda repeated his assurance that the House has no intent of introducing political provisions to the proposed revisions.

“RBH 2 is pure economic reform.

We know and understand that any political charter change will be dead on arrival. Senate President Sotto has made this clear, and we are also making our intentions and position abundantly clear,” Salceda added.

According to the 2019 OECD FDI restrictiveness index, the Philippines has the highest restrictiveness score

of any country in the Asean region.

‘Defective and deficient’

Albay Rep. Edcel Lagman, who voted against RBH 2, said the initiative is “defective in form and deficient in substance.”

“As to form, it is not compliant with Article XVII of the Constitution wherein there are only three recognized modes of proposing amendments to the Constitution: Constituent Assembly, Constitutional Convention and People’s Initiative,” Lagman said.

Lagman said it is also deficient in substance because the proposed amendment reading “unless otherwise provided by law” will allow Congress to amend the Constitution with unlimited discretion by legislation on the details of liberalizing the economic restrictions in the Constitution.

“The contingent legislation does not give the people at the time of the ratification of the proposed amendments [information] on the metes and bounds of the substantial amendments to the Constitution which will be effected by Congress through ordinary legislation,” Lagman said.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, June 2, 2021

B1

Monde Nissin shares slide on stock market debut

By VG Cabuag

S

@villygc

hares of Monde Nissin Corp., the maker of the popular Lucky Me! noodles and SkyFlakes biscuits, failed to soar during the company’s debut on the Philippine Stock Exchange (PSE) on Tuesday.

Monde Nissin shares ended trading at P13.48, or 2 centavos down from its initial public offering (IPO) price of P13.50. It fell to as low as P13.46 and rose to as high as P13.56 per share during the day’s trade.

The company raised P55.89 billion from the sale of primary and secondary shares. It is the biggest IPO in the Philippines so far.

“It closed flat perhaps since many are still awaiting the United States investors to return from Memorial Day weekend to gauge price action,” Luis Limlingan, managing director at Regina Capital Development Corp., said.

“The decline can be attributed to the general market sentiment today. Our local economy is still facing Covid-19 risks. In the government’s latest decision, more areas have been placed under MECQ [modified enhanced community

quarantine]. Hopes toward the Bayanihan 3 bill have also been tempered as Malacañang considered it to be non-urgent. These have weighed on the market in general and on Monde Nissin’s shares in particular,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.

The benchmark PSE index retreated 1.06 points to close at 6,627.43 points. Most sub-indices closed lower.

Total value of shares traded reached P14.78 billion with advancers slightly edging out decliners 107 to 101 and 41 shares were unchanged. Foreign investors were net buyers at P341.37 million.

Securities and Exchange Commission Chairman Emilio B. Aquino commended Monde Nissin for its resiliency amid the challenging times.

“This could hopefully help regain

Photo shows from left, by row: MONDE Chief Financial Officer Jesse C. Teo; PSE COO Roel A. Refran; MONDE Chief Strategy Officer David Nicol; MONDE Chief Executive Officer Henry Soesanto; PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division Head Marigel B. Garcia; MONDE M.Y. San Corp. General Manager Keng Sun Mar; MONDE Distributor and DCFE Corporation President Emma Bajet; MONDE Supplier and Calaca Harvest Terminal Inc. President Ernesto Ladrido III and MONDE Brand Manager Yna Patricia Alvarez. Contributed Photo

the confidence of the investing public in the Philippine stock market as well as stir up our economy considering that majority of its proceeds from the offering will be used for capital expenditures in its operations in the Philippines,” he said.

PSE President and CEO Ramon S. Monzon said over 100 global institutional investors participated in the international book building for the landmark IPO, showcasing how the PSE is able to attract world-class investors and serve as a conduit of large companies in raising capital needed for various purposes.

“The success of this offering is clearly a vote of confidence from institutional and retail investors, foreign and locals alike, in Monde Nissin’s track record spanning four decades, its global reach, strategic

direction and leadership. For sure, brand affinity played a major role in retail investors subscribing to this IPO as Monde Nissin’s products are among the staples of Filipinos,” he said.

Some 57 percent of the proceeds will be used to fund the company’s capital expenditures, 29 percent will be used to redeem convertible notes it gave to Arran Investment and the rest will be used for the repayment of loans.

In April 2019, the company issued a convertible note in favor of Arran Investment at an issue price of P9.1 billion. The said note is convertible into common shares of the company representing approximately 6.44 percent of the total issued and outstanding capital stock of the company on a fully-diluted basis.

PAL to increase international flights

By Recto L. Mercene @rectomercene

F

lag carrier Philippine Airlines (PAL) on Tuesday said it is increasing flights on a number of international and domestic routes this month due to the “recovering demand” as travel restrictions are eased on certain routes.

The airline said authorities currently impose flight arrival restrictions at Manila airport that require airlines to cancel some previously scheduled flights or re-route other flights to Cebu or Clark airports.

Passengers are advised to check regularly for flight schedule updates.

The airline said entry requirements for various countries are constantly being updated. “For more information, please check the government website of your country of

destination.” The airline said it is strictly implementing Fly Safe “new normal” practices to protect its passengers, in compliance with international health and safety protocols.

“Please bring your own face masks and face shields and wear them at all times—at the airport and throughout your flight,” PAL said on its website.

“We encourage you to check-in online and arrive early at the airport to allocate extra time for new safety procedures—at least 3 hours prior to departure for domestic flights; and 4 hours prior to departure for international flights.”

PAL said its cabin crew would have undergone medical evaluation prior to their duty, and will be wearing full Personal Protective Equipment (PPE) for the protection of passengers on board the flight. A modified meal

ICTSI to buy MHCPSI

I

nternational Container Terminal Services Inc. (ICTSI) is acquiring Manila Harbour Center Port Services Inc. (MHCPSI) for roughly P2.45 billion to “generate synergies and value-accretive returns” for its shareholders.

Based on a disclosure to the local bourse, the Razon-led port operator has signed a share purchase agreement with Prime Strategic Holdings Inc. (PSHI) for the acquisition of 25 million secondary shares in MHCPSI’s, representing 100 percent of its issued and outstanding shares, at P97.89 per share.

MHCPSI is a 10-hectare. international breakbulk and bulk private port facility located at the northern side of the Manila Harbour Center, Port of Manila. Last year, the company had a throughput of over 4.3 million tons across its 865-meter quay and maintains a water depth of approximately 10 meters.

Meanwhile, PSHI is a related party of ICTSI as both are under common ultimate ownership. “Nonetheless, the transaction is armslength and is supported by a fairness opinion issued by an independent public accounting firm. Transfer of the facilities to ICTSI management is expected to take place in mid-2021, once all conditions precedent and all required regulatory approvals have been obtained,” the regulatory filing read. Lorenz S. Marasigan

and snack service will be offered on board, using sealed packaging instead of traditional meals.

“All PAL aircraft are equipped with high-technology systems that continuously infuse fresh air across the cabin (cabin air is replaced every 2 to 3 minutes), as well as HEPA filters that trap viruses, bacteria and other contaminants with 99.99 percent efficiency.”

PAL also said all passengers flying to, from, or within the Philippines must download and register through Traze Contact Tracing, a unified and automated contact tracing app, before proceeding to the airport.

“This is a requirement of Philippine government authorities for all international and domestic passengers, whether arriving in or departing from any airport in the Philippines, to enable health authorities to notify

travelers who may have had contact with a Covid-19 patient.”

Passengers who do not have mobile phones or any other mobile gadgets may go to the Traze Helpdesk, located near the terminal entrance in all Philippine airports and at the arrival area of international airports, for registration assistance and QR code printing.

Passengers traveling to the Philippines from overseas countries are advised to download the app before they embark on their trip.

Fruitas suffers ₧16-M loss in Q1

F

ood and beverage kiosks operator Fruitas Holdings Inc. said it incurred a net loss of P16 million in the three months of the year ending March 31, a reversal of its P15-million income last year as sales came in flat.

Net sales, which comprise cash coming from the company-owned stores and commissary sales to franchisees, for the period came in at P259 million, flat compared with last year’s P256 million.

Sales contribution from additional community stores during the quarter compensated for continued softness in the sales from kiosks in certain parts of the country.

Revenues, meanwhile, were down 30 percent to P261 million from last year’s P374 million. The company said it continued to provide some concessions on franchise fees charged to kiosk franchisees and lease charges to third-party tenants in its two food parks.

“In these trying times, we believe it is important to continue to invest in our future. As the economy re-opens, we want to be well-positioned to take advantage of renewed consumer interest and we believe our efforts to grow and diversify our business will pay off,” Les-

ter Yu, Fruitas president and CEO, said.

The company had more than 810 operational stores in its network in March prior to the re-imposition of stricter movement restrictions in the second half of the month.

Its network included 41 community stores as of March 31, which has grown to 52 as of end-May. With the recently announced acquisition of certain assets of Balai Pandesal, the company is targeting to have 120 stores in local communities, comprising 100 community stores carrying the Soy and Bean or Babot’s Farm brand and 20 Balai Pandesal bakeshops, by the end of 2021.

“As a bottler/manufacturer of its key products, including fruit juices, soy milk and other soy-based products, and Jamaican Pattie, FRUIT recognizes that improving its gross margins will be a key lever to achieve its profit goals moving forward,” it said.

The company said it considered the ability to manufacture its own products as one of the key criteria when it decided to acquire Jamaican Pattie, Sabroso Lechon, Soy and Bean, and most recently, Balai Pandesal.

The company currently has three commissary locations across Metro Manila. VG Cabuag

Commissioning of SMC BESS projects finalized

By Lenie Lectura @llectura

S

ome of SMC Global Power Holdings Corp.’s (SGPHC) battery energy storage systems (BESS) projects have achieved final commissioning last month.

The technology group Wärtsilä said Tuesday the first two energy storage projects it has done for SGPHC are already delivering commissioning power in May. Wärtsilä signed multiple energy storage contracts with SGPHC from 2019 to 2020. The first two projects are the Integrated Renewable Power Hub-Toledo and BCCPP, Limay, Bataan.

The projects have a capacity of 20 MW / 20 MWh and 40 MW / 40MWh, respectively, and are part of an earlier announced energy storage orders.

These are the first energy storage systems supplied by Wärtsilä to the Philippines. The projects are delivered on an engineering, procurement and construction (EPC) basis, and include Wärtsilä’s propriety software and hardware solutions.

The systems comprise the company’s GridSolv Max system, a standardised energy storage solution that provides flexible and modular storage for the core hardware assets of the systems, including the batteries, a safety and fire system, and inverters, alongside the advanced GEMS Digital Energy Platform.

“Our partnership with SMC Global Power, a company with technical experience in battery energy storage systems, has enabled us to reach this stage and be ready for operation in record time. This also further demonstrates Wärtsilä’s EPC capabilities in the region, as well as our ability to operate under the challenging restrictions set by the pandemic.

These projects showcase our long-term commitment to be present in the Philippines and to continue delivering optimised solutions that support the energy transition

in Southeast Asia,” said Kari Punnonen, Director, Australasia, Wärtsilä Energy.

Earlier, SGPHC said it would spend $1 billion to simultaneously build 31 new BESS nationwide, with a rated capacity of 1,000MW. “Our ongoing investment into battery energy storage facilities will greatly benefit power consumers all over the country, because this will mean that even faraway provinces or areas, can have the same stable and good quality power supply as everywhere else,” said SMC President Ramon S. Ang. Ang said that some of its battery energy storage facilities are now in the advanced stages of completion.

The facilities, which will make up the company’s total committed capacity of over 1000 MW, will be located in several strategic sites from Luzon to Mindanao where power quality mitigations are required.

“This means that provinces and islands will have better and more equal opportunities for industrialization and economic growth. If previously some areas could not attract investments because of unstable or poor power supply, battery energy storage will make power supply more stable and reliable. Battery storage will significantly reduce imbalances in the grid that cause power interruptions and brownouts,” he added.

Separately, Global BESS provider ABB has also been tapped

by SGPHC. ABB said Tuesday it would install for SGPHC two 20megawatts (MW) BESS sites this month and a 40MW site in July. More BESS sites will be completely installed by 2022.

BESS can store power and are particularly suitable for regions that are impacted by grid instability, such as the Philippines.

The BESS package includes the provision of battery enclosures, ABB EcoFlex eHouse, UniGear ZS1 medium-voltage switchgear, integrated skid units, transformers and inverters in one single skid, with a connection to the grid.

B2

Companies BusinessMirror

Wednesday, June 2, 2021

PSE STOCK QUOTATIONS

June 1, 2021

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

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

43.2 105.7 84 23.9 9.45 48.1 9.19 19.7 22.15 55 97.05 17.22 121.7 75 1.28 4.04 2.95 7.48 1.31 0.38 0.67 183.4 2,450

44.3 105.8 84.3 24.4 9.5 48.5 9.95 20.95 22.2 55.55 101 17.3 122.3 75.05 1.34 4.05 3.17 8.66 1.42 0.4 0.68 183.5 2,480

43.2 103.6 84 24 9.34 47.9 9.97 20.95 22.1 56 101 17.5 122 75.05 1.28 4.04 3.12 7.48 1.35 0.38 0.68 175.2 2,450

44.3 105.8 84.3 24.4 9.5 48.5 9.97 21 22.2 56.9 101 17.5 123 75.05 1.28 4.11 3.18 7.48 1.35 0.4 0.68 186.3 2,450

43.2 103.4 83.1 23.9 9.33 47.5 9.97 20.95 21.8 54.7 101 17.3 120.5 74.5 1.28 4.04 3.12 7.48 1.35 0.38 0.68 170.1 2,450

43.2 105.8 84.3 24.4 9.5 48.5 9.97 21 22.2 55.55 101 17.3 122.3 75.05 1.28 4.05 3.18 7.48 1.35 0.4 0.68 183.4 2,450

5,100 5,506,520 1,395,770 101,200 204,200 1,325,400 900 6,300 1,978,400 3,050 330 144,300 209,220 1,310 20,000 75,000 20,000 800 39,000 790,000 31,000 5,060 20

225,710 579,073,032 117,275,494 2,425,430 1,925,693 63,724,110 8,973 132,255 43,683,770 168,475 33,330 2,507,380 25,476,577 97,920 25,600 305,640 63,000 5,984 52,650 304,900 21,080 925,074 49,000

-4,320 314,166,600 -49,793,417 -748,720 -303,055 51,064,885 -3,651,730 5,470 1,335,106 8,976 1,350 30,400 -51,061 49,000

INDUSTRIAL AC ENERGY 7.31 7.32 7.3 7.37 7.26 7.31 9,284,100 67,913,229 ALSONS CONS 1.34 1.35 1.36 1.36 1.34 1.35 211,000 284,480 ABOITIZ POWER 22.85 22.9 22.9 23.1 22.25 22.85 4,237,000 96,629,190 0.79 0.8 0.79 0.81 0.78 0.79 17,010,000 13,425,610 BASIC ENERGY 29.8 29.95 29.75 30 29.65 29.8 1,123,500 33,537,825 FIRST GEN FIRST PHIL HLDG 68.1 69 68.5 69 68.1 68.1 704,900 48,271,950.50 MERALCO 280 281 283.6 283.6 280 280 176,840 49,854,550 14.2 14.32 14.4 14.4 14.14 14.2 697,100 9,912,582 MANILA WATER 3.11 3.12 3.13 3.14 3.07 3.11 1,076,000 3,337,400 PETRON PETROENERGY 4.01 4.15 4.15 4.15 3.91 4.14 41,000 161,720 PHX PETROLEUM 12.66 13.02 12.46 13.06 12.46 13.06 73,200 948,712 PILIPINAS SHELL 20.6 20.65 20.5 21 20.5 20.65 341,700 7,082,430 11.26 11.28 11.2 11.3 11.18 11.28 618,400 6,934,228 SPC POWER 6.35 6.43 6.3 6.44 6.3 6.43 2,421,200 15,504,042 AGRINURTURE AXELUM 2.95 2.99 3 3 2.92 2.95 876,000 2,588,060 CNTRL AZUCARERA 13.2 13.44 13.44 13.44 13.44 13.44 200 2,688 23.45 23.8 23.5 24.2 23.3 23.45 6,700,600 158,327,550 CENTURY FOOD 14.4 14.42 14 14.42 14 14.4 613,900 8,773,278 DEL MONTE DNL INDUS 7.4 7.44 7.44 7.44 7.36 7.4 1,531,200 11,318,692 EMPERADOR 9.69 9.7 9.79 9.79 9.63 9.7 35,700 345,877 69 69.5 69.05 69.5 66.55 69 52,310 3,569,574 SMC FOODANDBEV 0.61 0.63 0.61 0.61 0.61 0.61 1,000 610 ALLIANCE SELECT FRUITAS HLDG 1.43 1.45 1.44 1.46 1.42 1.45 22,484,000 32,416,750 GINEBRA 70.85 70.9 74.5 74.5 70 70.85 98,280 7,011,495.50 JOLLIBEE 188.5 188.6 192.9 193.2 188.4 188.5 712,280 135,093,462 29.05 29.2 28.8 29.25 28.8 29.05 5,900 171,615 LIBERTY FLOUR MAXS GROUP 6.4 6.42 6.28 6.4 6.28 6.4 221,500 1,412,242 MG HLDG 0.26 0.265 0.275 0.275 0.255 0.255 2,040,000 533,500 MONDE NISSIN 13.46 13.48 13.48 13.56 13.46 13.48 238,439,900 3,215,755,116 7.88 8 7.95 7.95 7.88 7.88 939,900 7,439,423 SHAKEYS PIZZA 1.05 1.06 1.03 1.06 1.02 1.06 2,245,000 2,329,840 ROXAS AND CO 4.51 4.61 4.6 4.61 4.6 4.61 1,001,000 4,604,610 RFM CORP SWIFT FOODS 0.128 0.13 0.132 0.134 0.128 0.129 1,320,000 174,020 UNIV ROBINA 137 137.6 139 140.4 137 137 860,550 119,135,428 0.86 0.87 0.87 0.87 0.85 0.87 1,168,000 1,005,740 VITARICH 60 62.9 60 60 60 60 620 37,200 CONCRETE B CEMEX HLDG 1.23 1.24 1.27 1.27 1.23 1.23 1,125,000 1,398,080 DAVINCI CAPITAL 2.93 2.94 3.04 3.04 2.92 2.94 1,754,000 5,183,050 12.82 12.98 12.8 12.98 12.72 12.98 43,100 558,480 EAGLE CEMENT 6.98 7.19 6.95 7.1 6.9 7.1 132,600 924,581 EEI CORP 6.35 6.36 6.29 6.37 6.25 6.36 872,100 5,520,510 HOLCIM MEGAWIDE 6.28 6.3 6.38 6.38 6.25 6.3 416,000 2,622,315 PHINMA 12.34 12.4 12.3 12.4 12.3 12.4 39,300 485,326 1.08 1.1 1.06 1.1 1.06 1.08 90,000 96,860 TKC METALS VULCAN INDL 2.08 2.09 2.13 2.16 2.08 2.09 3,142,000 6,624,600 CROWN ASIA 1.74 1.75 1.76 1.76 1.74 1.75 436,000 762,680 EUROMED 1.87 1.92 1.93 1.93 1.88 1.92 35,000 66,800 5.1 5.2 5.2 5.2 5.1 5.1 4,100 20,920 MABUHAY VINYL PRYCE CORP 5.5 5.51 5.5 5.55 5.5 5.5 48,800 268,520 CONCEPCION 20.65 21.45 21.5 21.5 21.5 21.5 100 2,150 GREENERGY 3.92 3.94 3.73 3.95 3.71 3.94 8,406,000 32,213,630 INTEGRATED MICR 8.92 8.93 8.7 8.98 8.7 8.92 5,081,400 44,541,178 1.05 1.06 1.06 1.07 1.05 1.06 165,000 174,920 IONICS 6.09 6.1 6.11 6.11 5.66 6.09 111,400 663,332 PANASONIC SFA SEMICON 1.27 1.32 1.28 1.32 1.26 1.32 246,000 316,120 CIRTEK HLDG 5.68 5.7 5.75 5.78 5.65 5.68 693,500 3,941,898

7,496,183 -29,081,355.00 249,000 90,635 81,422.50 -10,764,546 1,065,402 -343,810 -22,202 -1,839,610 -3,412,640.00 -794,756 29,500 -834,475 715,088 -2,823,851 -156,183.00 506,499 1,432,640 4,087,598 -16,776,995 -284,300 23,750 6,064,824 553,508 -1,222,110 202,390.00 -7,173,814 8,600 19,100 -38,640 352,166 -703,776 -406,290 244,034 -420,100 8,805 -961,510 -33,011,035 8,480 16,990 243,240

HOLDING & FRIMS ABACORE CAPITAL 1.01 1.02 1.03 1.04 1 1.01 3,397,000 3,468,420 ASIABEST GROUP 7.15 7.38 7.38 7.38 7.38 7.38 100 738 AYALA CORP 779 780 790 790 771 780 197,610 153,958,605 38.9 38.95 40 40 38.75 38.95 728,300 28,435,060 ABOITIZ EQUITY 10.32 10.42 10.38 10.74 10.3 10.32 2,581,200 27,204,682 ALLIANCE GLOBAL AYALA LAND LOG 3.06 3.07 3.1 3.1 3.03 3.07 566,000 1,737,160 ANSCOR 6.7 6.8 6.79 6.79 6.7 6.79 10,200 68,790 0.8 0.81 0.79 0.81 0.77 0.8 4,853,000 3,848,100 ANGLO PHIL HLDG ATN HLDG A 0.69 0.7 0.71 0.71 0.69 0.7 135,000 93,760 COSCO CAPITAL 5.08 5.1 5.15 5.15 5.01 5.08 2,344,100 11,887,421 DMCI HLDG 5.64 5.68 5.56 5.68 5.56 5.68 3,076,700 17,367,263 FILINVEST DEV 7.93 8.03 8.05 8.05 7.85 8.03 281,100 2,217,839 585 587 580 594.5 580 587 117,760 69,235,355 GT CAPITAL 3.56 3.7 3.55 3.7 3.55 3.7 20,000 73,770 HOUSE OF INV JG SUMMIT 57.35 58 56.35 58.25 56.3 57.35 976,550 56,054,161 LODESTAR 0.84 0.85 0.88 0.9 0.85 0.85 1,092,000 939,980 3.14 3.26 3.12 3.25 3.12 3.25 234,000 752,950 LOPEZ HLDG 13.66 14.06 13.74 14.06 13.58 14.06 1,018,600 14,115,072 LT GROUP MJC INVESTMENTS 1.56 1.6 1.6 1.6 1.6 1.6 10,000 16,000 METRO PAC INV 3.93 3.94 3.98 3.99 3.89 3.94 10,300,000 40,582,260 PACIFICA HLDG 3.56 3.61 3.63 3.63 3.51 3.6 36,000 128,820 2.71 2.73 2.75 2.79 2.68 2.71 865,000 2,339,120 PRIME MEDIA 1.16 1.19 1.2 1.2 1.2 1.2 5,000 6,000 SOLID GROUP SM INVESTMENTS 960.5 966.5 970 970 957 960.5 102,780 99,161,625 SAN MIGUEL CORP 116.1 116.5 115.9 117 115.7 116.1 45,750 5,306,439 0.72 0.74 0.68 0.75 0.68 0.74 1,486,000 1,072,850 SOC RESOURCES SEAFRONT RES 2.04 2.43 2.04 2.04 2.04 2.04 1,000 2,040 ZEUS HLDG 0.207 0.212 0.21 0.212 0.204 0.212 1,070,000 224,790

-80,110 1,887,665 8,550,785 -7,077,418 2,570 -3,134,829 4,095,034 8,000 27,676,935 16,968,049.50 587,090 -554,786 -1,571,320 59,320 -40,589,870 539,461 -

PROPERTY ARTHALAND CORP 0.61 0.62 0.62 0.62 0.62 0.62 155,000 96,100 AYALA LAND 34.5 35 33.9 35 33.5 35 7,723,100 266,307,915 ARANETA PROP 1.15 1.23 1.15 1.24 1.15 1.15 35,000 40,740 36.25 36.3 36 36.8 36 36.25 328,900 11,985,815 AREIT RT 1.41 1.45 1.42 1.45 1.39 1.45 63,000 90,780 BELLE CORP A BROWN 0.94 0.95 0.93 0.96 0.93 0.96 20,000 18,630 CITYLAND DEVT 0.9 0.91 0.93 0.93 0.91 0.91 263,000 240,420 0.122 0.127 0.127 0.127 0.122 0.122 570,000 70,790 CROWN EQUITIES CEBU HLDG 6.24 6.5 6.22 6.22 6.22 6.22 62,300 387,506 CEB LANDMASTERS 7.08 7.1 7.18 7.2 7.06 7.1 2,016,600 14,356,610 CENTURY PROP 0.395 0.4 0.4 0.405 0.39 0.4 13,080,000 5,162,450 CYBER BAY 0.315 0.32 0.32 0.32 0.32 0.32 80,000 25,600 12.12 12.18 12.2 12.28 12.1 12.18 438,800 5,342,718 DOUBLEDRAGON 1.94 1.95 1.95 1.95 1.94 1.94 4,315,000 8,386,860 DDMP RT DM WENCESLAO 6.87 6.88 6.75 6.9 6.75 6.88 44,200 303,896 EMPIRE EAST 0.275 0.28 0.275 0.28 0.275 0.28 510,000 142,300 0.175 0.177 0.162 0.178 0.161 0.177 21,160,000 3,671,750 EVER GOTESCO 1.09 1.1 1.08 1.09 1.07 1.09 3,666,000 3,969,840 FILINVEST LAND GLOBAL ESTATE 0.89 0.9 0.89 0.89 0.89 0.89 17,000 15,130 8990 HLDG 7.11 7.29 7.2 7.21 7.11 7.11 36,700 263,075 PHIL INFRADEV 1.32 1.34 1.34 1.35 1.32 1.34 384,000 511,350 1.74 1.75 1.78 1.78 1.7 1.74 1,043,000 1,810,510 CITY AND LAND 3.08 3.1 3.04 3.11 3.01 3.08 21,906,000 67,247,900 MEGAWORLD MRC ALLIED 0.365 0.37 0.37 0.375 0.355 0.365 73,560,000 26,872,600 PHIL ESTATES 0.56 0.57 0.55 0.57 0.54 0.57 4,483,000 2,479,040 3.88 3.9 3.46 3.9 3.45 3.88 19,769,000 72,876,650 PRIMEX CORP 17 17.18 17 17.18 16.78 17.18 933,700 15,820,668 ROBINSONS LAND PHIL REALTY 0.241 0.249 0.241 0.241 0.241 0.241 460,000 110,860 ROCKWELL 1.48 1.49 1.49 1.5 1.48 1.48 40,000 59,360 2.56 2.65 2.65 2.65 2.65 2.65 15,000 39,750 SHANG PROP STA LUCIA LAND 2.55 2.6 2.6 2.6 2.55 2.6 50,000 129,730 SM PRIME HLDG 36.2 36.6 36.4 36.9 35.3 36.6 2,974,900 108,442,140 VISTAMALLS 3.7 3.8 3.78 3.8 3.78 3.79 10,000 37,900 SUNTRUST HOME 1.55 1.57 1.58 1.61 1.57 1.57 557,000 881,410 3.76 3.8 3.8 3.85 3.73 3.8 17,845,000 67,104,030 VISTA LAND

SERVICES ABS CBN 11.32 11.4 11.66 11.66 11.32 11.4 34,300 389,982 GMA NETWORK 9.01 9.03 9.03 9.07 8.99 9.01 687,400 6,198,395 MLA BRDCASTING 9.8 10 10.1 10.1 10 10 8,900 89,100 1,820 1,827 1,815 1,828 1,811 1,827 21,945 39,971,430 GLOBE TELECOM 1,301 1,312 1,315 1,324 1,301 1,301 51,270 67,182,995 PLDT APOLLO GLOBAL 0.18 0.181 0.183 0.184 0.176 0.181 179,910,000 32,305,070 CONVERGE 19.7 19.74 19.4 19.74 19.4 19.7 896,700 17,614,802 3.83 3.85 3.82 3.88 3.82 3.85 137,000 524,410 DFNN INC 9.7 9.71 9.45 9.73 9.35 9.7 8,895,700 84,888,261 DITO CME HLDG IMPERIAL 1.62 1.72 1.62 1.62 1.55 1.55 20,000 31,650 JACKSTONES 2 2.15 2.13 2.13 2.13 2.13 1,000 2,130 NOW CORP 2.42 2.43 2.49 2.55 2.43 2.43 545,000 1,336,970 0.405 0.41 0.39 0.405 0.39 0.405 9,380,000 3,741,800 TRANSPACIFIC BR PHILWEB 2.42 2.48 2.5 2.5 2.41 2.48 280,000 682,940 2GO GROUP 8.3 8.36 8.4 8.4 8.3 8.36 17,200 143,713 ASIAN TERMINALS 14.54 14.56 14.88 14.88 14.52 14.56 8,100 118,514 3.08 3.09 3.08 3.11 3.03 3.08 217,000 666,840 CHELSEA CEBU AIR 44.8 44.85 45.8 45.8 44.55 44.85 122,900 5,511,525 INTL CONTAINER 143 143.5 143 145.5 142.7 143.5 383,360 55,290,652 LBC EXPRESS 16.02 16.72 16.78 16.78 15.96 16 2,500 40,374 LORENZO SHIPPNG 1 1.03 1 1.04 1 1.03 247,000 247,830 4.78 4.8 4.9 4.92 4.75 4.78 2,041,000 9,839,920 MACROASIA 2.06 2.09 2.03 2.09 2.03 2.06 61,000 125,520 METROALLIANCE A METROALLIANCE B 2.1 2.5 2.06 2.06 2.06 2.06 1,000 2,060 PAL HLDG 5.77 5.86 5.95 5.97 5.77 5.86 38,800 228,757 1.16 1.18 1.17 1.19 1.16 1.18 148,000 173,180 HARBOR STAR 1.53 1.67 1.53 1.68 1.53 1.68 127,000 194,460 ACESITE HOTEL BOULEVARD HLDG 0.102 0.103 0.097 0.102 0.095 0.102 156,530,000 15,651,840 DISCOVERY WORLD 3.4 3.44 3.69 3.69 3.44 3.44 317,000 1,121,590 0.53 0.54 0.54 0.54 0.53 0.54 906,000 481,690 WATERFRONT 0.36 0.375 0.37 0.375 0.365 0.365 650,000 239,600 STI HLDG BERJAYA 4.81 4.89 4.8 4.81 4.8 4.81 4,000 19,230 BLOOMBERRY 6.57 6.6 6.65 6.68 6.52 6.6 6,521,900 43,019,079 PACIFIC ONLINE 2.06 2.14 2.06 2.06 2.05 2.05 3,000 6,170 1.54 1.56 1.53 1.59 1.52 1.57 69,000 105,820 LEISURE AND RES 2.07 2.11 2.07 2.07 2.07 2.07 4,000 8,280 MANILA JOCKEY PH RESORTS GRP 1.87 1.88 1.89 1.94 1.87 1.88 1,521,000 2,870,930 PREMIUM LEISURE 0.405 0.415 0.405 0.415 0.405 0.415 380,000 156,600 5.8 5.9 5.8 5.8 5.8 5.8 5,600 32,480 PHIL RACING ALLHOME 7.29 7.3 7.65 7.67 7.3 7.3 1,062,700 7,874,032 1.3 1.31 1.29 1.33 1.29 1.31 885,000 1,169,930 METRO RETAIL PUREGOLD 36.95 37.1 37.55 38 36.4 36.95 3,353,200 124,051,755 ROBINSONS RTL 49.9 50 51.4 51.4 49.55 49.9 490,370 24,664,467 102 105.5 103.8 103.8 103.8 103.8 810 84,078 PHIL SEVEN CORP 1.18 1.2 1.19 1.2 1.18 1.2 672,000 799,120 SSI GROUP WILCON DEPOT 18 18.4 18.4 18.4 18 18.4 395,200 7,254,988 APC GROUP 0.385 0.39 0.385 0.39 0.385 0.39 110,000 42,850 6.24 6.25 5.92 6.25 5.92 6.24 12,300 75,894 EASYCALL IPM HLDG 5.05 5.09 5.05 5.05 5.05 5.05 100 505 PRMIERE HORIZON 1.81 1.83 1.86 1.87 1.76 1.83 21,574,000 39,167,340

108,035,420 1,228,055 -5,640 589,271 11,700 2,040,254 -223,130 -104,576 -42,020 668,490 109,380 -16,540 -5,512,770 505,600 9,740 3,868,750 590,812 5,960 54,055,520 327,120 -3,872,200 -6,142,045 -6,984,535 2,051,380 3,489,760.00 198,930 1,957,272.00 -69,640 -452,440 6,681.00 10,178 -1,408,475 10,964,079 -3,596,950 12,876 -11,680 -119,780 -28,000 212,000 -17,817,380 47,120 -173,870 8,300 4,752,883 -13,670 -24,327,095 -9,963,701 1,038 -310,300 6,604,116.00 -365,650

MINING & OIL ATOK 9.28 9.3 9.22 9.39 9.22 9.3 190,500 1,773,181 85,650 APEX MINING 1.7 1.72 1.74 1.74 1.7 1.7 1,929,000 3,313,810 -41,760 7.3 7.31 7.6 7.62 7.23 7.3 2,669,300 19,624,597 -544,075 ATLAS MINING 3.95 4.04 3.89 4.18 3.75 4.04 1,214,000 4,870,010 BENGUET A BENGUET B 3.96 4.04 3.71 4.11 3.71 3.98 486,000 1,911,960 288,420 CENTURY PEAK 2.72 2.85 2.7 2.85 2.7 2.85 35,000 96,570 55,750 6.58 6.83 6.87 6.88 6.58 6.83 86,200 573,122 55,002 DIZON MINES 2.54 2.55 2.6 2.6 2.52 2.54 1,514,000 3,856,830 -351,510 FERRONICKEL GEOGRACE 0.32 0.325 0.33 0.33 0.315 0.32 600,000 190,300 31,500 LEPANTO A 0.156 0.157 0.155 0.157 0.154 0.157 30,210,000 4,697,930 LEPANTO B 0.157 0.168 0.157 0.157 0.157 0.157 1,030,000 161,710 0.012 0.013 0.014 0.014 0.013 0.013 1,726,700,000 22,464,700 MANILA MINING A MANILA MINING B 0.013 0.014 0.014 0.014 0.013 0.013 249,400,000 3,479,600 27,000 MARCVENTURES 1.26 1.27 1.23 1.27 1.21 1.26 707,000 868,420 -170,540 NIHAO 1.38 1.4 1.4 1.42 1.38 1.4 849,000 1,183,710 -31,740 5.07 5.08 5.17 5.18 5.03 5.07 6,483,400 32,953,245 -14,840,812 NICKEL ASIA 0.37 0.39 0.375 0.385 0.37 0.37 2,910,000 1,088,400 OMICO CORP ORNTL PENINSULA 0.98 0.99 1.01 1.01 0.96 0.99 159,000 156,240 PX MINING 6.91 6.92 7.47 7.5 6.92 6.92 12,987,100 91,975,686 415,754 SEMIRARA MINING 13.3 13.36 13.18 13.36 13.18 13.36 475,900 6,341,424 1,304,956 0.0091 0.0094 0.0096 0.0097 0.009 0.0092 347,000,000 3,169,800 9,200 UNITED PARAGON 16.2 16.4 17 17 16.2 16.4 302,900 5,011,300 -1,238,890 ACE ENEXOR ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 47,600,000 549,700 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 5,700,000 68,400 0.011 0.012 0.012 0.012 0.011 0.012 44,100,000 506,200 PHILODRILL PXP ENERGY 8.03 8.1 8.4 8.45 7.99 8.1 731,100 5,928,582 310,107

PREFFERED HOUSE PREF B 100 101.5 100.7 100.7 100 100 1,160 116,350 HOUSE PREF A 100 101.5 100.1 101 100 100 9,470 947,170 AC PREF B1 525.5 539.5 525.5 535 525.5 535 7,000 3,726,000 2,675,000 100.7 101.8 100.5 100.5 100.5 100.5 3,200 321,600 -28,140 ALCO PREF B 517.5 520 517.5 517.5 517.5 517.5 200 103,500 AC PREF B2R BC PREF A - - 28.35 28.35 28.35 28.35 100 2,835 CEB PREF 42.15 42.6 42.35 42.35 41.95 42.15 131,000 5,507,795 -971,590 104 104.3 104.4 104.4 104.4 104.4 4,800 501,120 CPG PREF A DD PREF 101.1 101.4 101.4 101.4 101.1 101.4 360 36,489 FGEN PREF G 107.5 110 107.5 107.5 107.5 107.5 30 3,225 GTCAP PREF B 1,020 1,040 1,040 1,040 1,040 1,040 390 405,600 MWIDE PREF 100.3 100.5 100.6 100.6 100.4 100.5 5,300 532,151 104 106.9 106.9 106.9 104 106.9 140 14,676 PNX PREF 3B PNX PREF 4 1,002 1,008 1,007 1,008 1,001 1,008 1,730 1,741,560 SMC PREF 2C 79.5 79.95 79.1 79.95 79.1 79.95 8,430 673,808.50 SMC PREF 2E 77.5 77.85 77.5 77.5 77.5 77.5 2,100 162,750 78.85 79.85 79 79 79 79 6,000 474,000 SMC PREF 2F SMC PREF 2H 78.25 78.8 78.4 78.4 78.15 78.15 1,000 78,200 SMC PREF 2J 77 77.8 77.8 77.8 77.8 77.8 100 7,780 SMC PREF 2K 75.9 76.95 76 76.95 75.9 76.95 12,470 959,260.50 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.6 10.8 10.8 10.8 10.7 10.8 42,500 458,948 440,638 GMA HLDG PDR 8.52 8.6 8.65 8.65 8.6 8.6 31,700 272,725 -

WARRANTS LR WARRANT 1.64 1.65 1.71 1.75 1.64 1.64 463,000 768,360 -

SMALL & MEDIUM ENTERPRISES ALTUS PROP 17.22 17.4 17.9 17.9 17.5 17.5 3,200 56,200 -7,000 ITALPINAS 2.35 2.38 2.41 2.41 2.35 2.35 153,000 362,780 47,000 KEPWEALTH 5.1 5.3 5.1 5.12 5.1 5.1 5,500 28,070 2.53 2.63 2.53 2.63 2.53 2.63 4,000 10,420 MAKATI FINANCE MERRYMART 4.51 4.52 4.53 4.59 4.42 4.52 3,838,000 17,246,830 1,000,760

EXHANGE TRADE FUNDS

FIRST METRO ETF 100.5 101 100.5 101 99.5 100.5 7,390 740,921 72,144

www.businessmirror.com.ph

Frabelle hikes hot dog prices due to more expensive MDM

F

By Jasper Emmanuel Y. Arcalas

@jearcalas

rabelle Corp. said it has increased the prices of its Yummy and Bossing hot dogs to be able to maintain production amid the shortage of a raw material used in making processed meat products.

Frabelle President Fay T. Bernardo confirmed to the BusinessMirror that the company has raised the prices of its hot dog products to cover its production cost.

Bernardo said the price increase was driven by the doubling of the cost of mechanically deboned meat (MDM) of chicken.

She added that pandemic-related problems are also affecting production costs. “[Price hike was] due to the

shortage of MDM because of avian influenza specifically in Europe, which is a major source for us.

The price has doubled,” she said via SMS. “We are left with no choice but to increase [prices] just to cover our cost, otherwise we cannot continue to produce. Covid is also still an issue as it is affecting our productivity [and] increasing our production cost.”

The BusinessMirror broke

the story on Monday that certain hot dog makers have implemented price hikes, including Frabelle and San Miguel Food and Beverage Inc. (SMFBI). (Related story: https://businessmirror.

last May 31 for wet markets while supermarket prices would increase on June 21.

The products affected by the price increase are Tender Juicy hot dogs (regular, cheese dogs, cocktail, giant), Star hot dogs (regular, jumbo, cheese dog), and Higante hot dogs (queen size, king size, super jumbo).

For example, the list price of Purefoods Tender Juicy hot dog (regular, 230 grams) for wet markets would rise by P2.85 to P46.55 per pack from P43.70 per pack.

The BusinessMirror earlier broke the stories that meat processors would increase the prices of their products as they have started to use more expensive imported raw materials.

The Philippine Association of Meat Processors Inc. said prices of processed meat products may increase by as much as 20 percent— on a staggered basis over the next eight months—due to depleting stockpiles and thin volumes of imported supply.

com.ph/2021/05/31/meat-processors-set-list-pricehikes-hot-dogs-to-cost-more/)

Data obtained by the BusinessMirror showed that Frabelle increased its hot dog prices last May 5.

Based on the data, the list price of Frabelle Yummy Hot dogs Regular (1 kilogram) rose by P2.86 to P151.43 per pack. Likewise, the list prices of its cheesedog and jumbo variants went up by P2.86 to P151.43 per pack and P155.24 per pack, respectively.

The list price of Frabelle’s Bossing Hot dog Classic (200 grams) increased by P0.6 to P26.67 per pack while its Bossing Cheesedog Regular (250 grams) rose by P0.47 to P33.33 per pack.

SMFBI, which produces Tender Juicy and Star hot dogs, increased the list prices of hot dogs, or the price being passed on to its distributors,

Megaworld to build International Finance Center

By VG Cabuag @villygc

M

egaworld Corp., the property development arm of businessman Andrew Tan, said it will construct the 24-storey International Finance Center within its 15.4-hectare Uptown Bonifacio in the former military camp in Taguig.

The company said the building will be LEED-certified (Leadership in Energy and Environmental Design) office tower and will offer 69,200 square meters of office spaces within a commercial and retail area just across Uptown Mall and beside Uptown Parade.

The office tower will also be just a two-minute walk to the three residential condominium developments of Uptown Bonifacio, and a three-minute walk towards Kalayaan Avenue leading to either Makati City or C5.

“This new office development, which will be PEZA-accredited, sits right at the heart of Uptown Bonifacio, having the most convenient access to the mall, residential, transport and leisure hubs in a community setting. Soon, this new office tower will have a direct access to the Mega Manila Subway and the proposed Skytrain monorail,” Roland Tiongson, first vice president of Megaworld Premier Offices, said.

The tower features 6 levels of combined podium and basement parking with 712 slots, and 30 passenger elevators including four parking and two service elevators.

The International Finance Center

is Megaworld’s seventh office development in Uptown Bonifacio. To date, the company has completed the construction of the other six towers-Alliance Global Tower, Uptown Place Tower 1, Uptown Place Tower 2, Uptown Place Tower 3, Uptown Eastgate and Worldwide Plaza.

The company’s gross leasable office portfolio for the 7 towers reached 400,450 square meters, the biggest among the 26 Megaworld developments.

Some two office towers have been given Silver LEED certifications (Uptown Place Towers 1 and 2), three more have pending Silver LEED certifications (Uptown Place Tower 3, Alliance Global Tower, and Uptown Eastgate), and one for LEED Gold certification (Worldwide Plaza).

“Currently, our office portfolio in Fort Bonifacio alone totals to around 900,000 square meters already.

These are in Uptown Bonifacio, McKinley Hill, and McKinley West.

We have grown this big because of the robust demand for office spaces in our townships here,” Tiongson said.

In 2018, Megaworld announced that it is building Worldwide Plaza, which will be the future headquarters of the Philippine Global Service Center of JPMorgan Chase Bank, N.A., the leading global banking and financial services provider.

The 25-storey, built-to-suit office tower with a gross leasable area of 70,000 square meters has been the touted as the largest single office leasing transaction in Philippine real estate industry in terms of total space leased to a single company and transaction value.

Haus Talk property developer wants to go public this year

H

aus Talk Inc., a residential real estate developer owned by the Madlambayan family, said it wants to go public this year in its bid to generate cash and expand its footprint in the country.

The company said it was able to build and sell thousands of housing units, majority of which are in Rizal, Metro Manila, Laguna and Cavite. The company said it has expansion plans spread across the socialized, economic and mid-market housing, aimed for completion within the next 2 to 5 years.

“We are keen on bringing within reach these affordable yet well-built homes given the strong demand in our country.

We believe in quality homes that foster family bonding, memories and experi-

ences,” Maria Rachel Madlambayan, the company’s president said.

No other details were given on its plan to be listed on the Philippine Stock Exchange, but the company, a relatively unknown player, said its products have consistently performed well, with the demands surpassing the supply regularly.

“Strong profitability and healthy margins have been consistent for us primarily due to competitive pricing and quality and also because of our developments’ good and strategic location with proximity to transportation, hospitals, schools and commercial areas, being merely minutes away from the city centers. It’s the confluence of all these that we have seen significant growth year on year,” Madlambayan said. VG Cabuag

mutual funds

June 1, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

213.61

10.85%

-5.98%

-3.77%

ATRAM Alpha Opportunity Fund, Inc. -a

1.2697

33.5%

-6.16%

0.38%

-3.3%

13.28%

-10.76%

-6.22%

-7.01% -6.32%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9135

-5.99%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7531 15.74%

-5.79% n.a.

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7044 7.85%

-5.58% n.a.

-5.02%

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

-4.23%

-2.64%

-5.35%

3.35%

4.6767

11.79%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6717

-7.89%

-7.35%

MBG Equity Investment Fund, Inc. -a

94.66

28.25%

-5.63% n.a.

-7.14%

PAMI Equity Index Fund, Inc. -a

43.6821

13.48%

-4.14%

-2.61%

-6.76%

Philam Strategic Growth Fund, Inc. -a

459.46

10.95%

-4.15%

-2.97%

-6.04%

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

1.0342

20.27% n.a. n.a.

-5.75%

Philequity Dividend Yield Fund, Inc. -a

1.1149

12.75%

-3.75%

-1.99%

-4.56%

Philequity Fund, Inc. -a

32.7464

13.17%

-3.68%

-1.55%

-5.82%

11.96% n.a. n.a.

-6.82%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8507

Philequity PSE Index Fund Inc. -a

4.4757

14.1%

-3.54%

-1.82%

-6.58%

Philippine Stock Index Fund Corp. -a

749.09

14.23%

-3.44%

-1.94%

-6.56%

Soldivo Strategic Growth Fund, Inc. -a

0.6748

12.79%

-8.06%

-5.37%

-6.13%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3888

10.02%

-5.96%

-3.38%

-6.48%

-3.81%

-2.1%

-6.77%

-3.9%

-0.98%

-5.46%

-3.24%

-1.32%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8556 13.67% United Fund, Inc. -a

3.1379

11.94%

-11.6%

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

100.5274

14.25%

-6.53%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2718

43.79%

5.48%

9.18%

5.73%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7631

34.29%

11.18%

11.65%

5.4%

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

1.644

8.41%

-0.83%

-1.44%

-1.47%

ATRAM Philippine Balanced Fund, Inc. -a

2.1798

8.39%

-1.6%

-0.77%

-4.62%

First Metro Save and Learn Balanced Fund Inc. -a 2.5332

6.5%

-0.67%

-0.88%

-3.57%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1897

2.49% n.a. n.a.

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

5.85%

1.24%

0.54%

-2.41%

1.9167

PAMI Horizon Fund, Inc. -a

3.6004

5.98%

0.01%

-0.68%

-4.95%

Philam Fund, Inc. -a

16.1332

6.39%

0.11%

-0.67%

-4.74%

Solidaritas Fund, Inc. -a

2.0153

7.51%

-0.98%

-0.48%

-3.76%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4232 6.45%

-2.26%

-1.71%

-4.2%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9657

5.07% n.a. n.a.

-5.56%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8799

7.92% n.a. n.a.

-7.3%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8647

9.3% n.a. n.a.

-7.33%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.8505

6.89%

-3.24%

-2.14%

-4.48%

-4.19%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.038

-0.86%

2.78%

1.29%

-2.86%

PAMI Asia Balanced Fund, Inc. -b

22.34%

3.39%

5.58%

-0.45%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6765 25.39%

8.63%

8.46%

3.63%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.208 13.34%

4.9%

4.74%

0.49%

0.06%

$1.145

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

371.29

2.06%

3.11%

2.47%

ATRAM Corporate Bond Fund, Inc. -a

1.9151

-1.08%

0.95%

0.12%

0.78%

Cocolife Fixed Income Fund, Inc. -a

3.2251

1.42%

3.82%

4.36%

0.32%

Ekklesia Mutual Fund Inc. -a

2.2526

-1.33%

2.11%

1.43%

-1.89%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4327 -0.04%

3.14%

1.75%

-0.84% -3.41%

Philam Bond Fund, Inc. -a

4.4767

-1.7%

3.98%

1.67%

Philam Managed Income Fund, Inc. -a,6

1.3251

2.86%

4.32%

2.8%

0.3%

Philequity Peso Bond Fund, Inc. -a

3.9696

1.51%

4.43%

2.51%

-0.79%

Soldivo Bond Fund, Inc. -a

1.0235

0%

4%

1.63%

-1.78%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2003

1.67%

5.25%

2.85%

-0.18%

Sun Life Prosperity GS Fund, Inc. -a

0.51%

4.53%

2.16%

-0.61%

1.7443

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$484.84

2.83%

3.11%

2.34%

0.2%

ALFM Euro Bond Fund, Inc. -a

Є219.67

2.26%

1.11%

1.2%

0.22%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1794

-2.82%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259

1.99%

1.14%

-7.89%

0%

1.46%

0.95%

-2.63%

PAMI Global Bond Fund, Inc -b

$1.0495

-1.3%

0.39%

-0.59%

-3.95%

Philam Dollar Bond Fund, Inc. -a

$2.4941

3.01%

4.98%

2.26%

-1.64%

Philequity Dollar Income Fund Inc. -a

$0.062838

4.61%

3.47%

2.23%

0.83%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1495 -0.55%

2.93%

1.06%

-2.3%

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

2.52%

0.26%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0519 1.2% n.a. n.a.

130.15

1.88%

0.36%

Sun Life Prosperity Money Market Fund, Inc. -a 1.3042

0.59%

1.85%

3.07% 2.88%

2.57%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0571

1.37%

1.7% n.a.

0.45%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2367 n.a. n.a. n.a.

9.48%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99

7.61% n.a. n.a.

1.02%

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).

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.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

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 newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Fitch warns banks vs low revenues, grim NPL ratio

A

N international credit watcher warned last Tuesday of “diminished revenue growth opportunities” and “worsening nonperforming loans ratio” for Philippine banks as the economy continues to grapple from its recession.

Fitch Ratings Inc. cautioned that the prolonged downturn of the Philippine economy is expected to put pressure on local banks’ nearterm business prospects and credit profiles.

“Banks face a challenging operating environment as the country enters a second year of heightened unemployment and economic downturn,” Fitch Ratings said in a statement. “This is reflected in significant deterioration in banking asset quality and very high credit costs over the past year, and a muted profitability outlook over the next 12 to 18 months.”

“Most of the major Philippine banks have weathered the crisis relatively well so far; but their viability ratings may come under pressure as the slowdown increasingly proves to be protracted,” it added.

Local banks will particularly be hit, according to Fitch Ratings, as the weaker economic outlook translates to diminished revenue growth opportunities for banks as credit demand remains muted and asset yields are capped by excess liquidity amid a dovish monetary policy.

Fitch Ratings also said revenue tail winds that underpinned banks’ pre-provisioning profits in 2020 are dissipating.

“We expect revenue growth to be lackluster until at least mid-2022,” the credit watcher said.

Apart from low revenues, Fitch Ratings said banks will also likely be burdened by larger non-performing loans (NPLs).

“We expect the system’s nonperforming loan ratio to worsen to nearly 6 percent by end-2021 from 4.3 percent at end-March. Consumer and business sentiments remain dampened by high coronavirus infection rates and consequent social distancing measures, and we expect more business failures in the mid-market segment,” Fitch Ratings said.

The Philippine economy plunged into recession in 2020 due to the disruption caused by the global health crisis. Last year, the country’s gross domestic product shrank by 9.5 percent on average. For the first quarter of the year, the economy remained in recession with a contraction of 4.2 percent.

Fitch’s research unit, Fitch Solutions, also earlier cut their 2021 growth projection for the country again from 5.8 percent down to 5.3 percent. Just last month, Fitch Solutions already cut its previous forecast of 7.6 percent down to 5.8 percent.

On top of that, Fitch Ratings noted that the country’s unemployment rate continues to be the highest in Southeast Asia at 7.1 percent as of March.

“Economic performance has lagged regional peers’ since 3Q20 [third quarter of 2020] and fell short of our expectations in the past year.

Fitch now expects a considerably shallower economic recovery in 2021 than in the early stages of the Covid-19 pandemic,” the credit watcher said. Bianca Cuaresma

Biz group backs bank secrecy law amendments

L

OCAL businessmen threw their support behind the passage of the amendment to Republic Act 1405 (Bank Secrecy Act) help the government fight tax evasion and other financial crimes.

In a statement last Tuesday, the Philippine Chamber of Commerce and Industry (PCCI) said the country’s bank secrecy law has been referenced in international reports on offshore tax evasion, money laundering and corruption.

The PCCI said despite this, the bank secrecy law has been cited as a constitutional and statutory right despite causal evidence between the secrecy laws and illegal activities.

“The Bank Secrecy Act needs to be amended to align the country’s banking and financial systems with international best practices and meet global standards of transparency, combat illegal financial transactions and promote the safety and soundness of the financial system,” the PCCI said.

Further, the PCCI said safeguards must be put in place to avoid abuses and maintain public trust. They added that private banks must also be more transparent especially when it comes to suspicious transactions.

The PCCI said banks should restrict access to banking by potential criminals before they are able to place or manage illicit funds in offshore accounts.

It added that banks and honest depositors should be protected from the use of the law for harassment or other illicit motives.

Earlier, the Financial Executives Institute of the Philippines (Finex), said the country’s existing bank secrecy laws weaken the Bangko Sentral ng Pilipinas’ exercise of its mandate of maintaining a sound and stable banking system, as it constrains BSP’s supervisory activities and assessment, especially in cases involving unsafe and unsound banking practices.

In April, the BSP also called for urgent reforms in the country’s bank secrecy law, as the Philippines is now the only country in the world to have such measures in place.

BSP Governor Benjamin E. Diokno said the Philippines needs to change its current framework of bank secrecy in order to keep up with international standards on transparency and to help combat both domestic and global tax evasion, money laundering and other financial crimes. Cai Ordinario

Editor: Dennis D. Estopace • Wednesday, June 2, 2021 B3

PHL digital transactions rose during renewed lockdowns

M

By Bianca Cuaresma

@BcuaresmaBM

ORE Filipinos continued to shift towards digital banking due largely to the movement and operational restrictions brought about by government’s efforts to curb the spread of Covid-19 in the country.

The Bangko Sentral ng Pilipinas (BSP) reported last Tuesday that financial transactions through the country’s two automated clearing houses—PESONet and InstaPay— were higher by 276 percent in volume and 127 percent in value in April, compared to the figures recorded during the same month in 2020.

“The data are encouraging. These indicate the sustained adoption of digital payments in the country,” BSP Governor Benjamin E. Diokno said in a statement. “The preference of consumers for safety in their fi-

nancial transactions, coupled with the readiness of the BSFIs to offer digital payment choices that are safe, convenient, and affordable will continue to support the widespread use of digital payments.”

In a separate speaking engagement, Diokno reaffirmed his projection that the BSP will hit its “Digital Payments Transformation Roadmap” targets of digitizing at least 50 percent of financial transactions and 70 percent of Filipinos owning financial accounts as early as next year.

“Before the end of 2022, we will accomplish those goals,” the Gover-

nor said during the Institute of International Finance (IIF) Asia Pacific Summit held online recently.

The projection was made in view of the sustained rise in digital financial transactions in the Philippines amid the pandemic.

“New adopters have experienced first-hand the advantages of going digital. Their positive experiences are expected to create a ripple effect and to promote the wider use of digital payments,” Diokno was quoted in the statement as saying.

There is however, a lot more to be done.

In a study released by Visa on Tuesday, the global financial giant said that while 83 percent of Filipinos are aware and 81 percent are interested in using digital banking services, only 32 percent of respondents are currently using services offered by a digital bank.

The Visa Consumer Payment Attitudes study also showed that Filipinos interested in banking with digital banks are keen to use services such as paying bills (84 percent), transferring money locally (78 percent), making deposits and withdrawals

(76 percent), and making payments for purchases at local retail locations (71 percent).

However, the preference of using digital banking for traditional bank services such as investments were only at 52 percent, international transfers at 48 percent and obtaining loans at 46 percent.

The study also showed that 86 percent of Filipino respondents would switch current banking services to digital banking services if the bank provided better rewards and 85 percent would do so if they can benefit from lower costs for their banking transactions.

“As more digital-based solutions and trends emerge in the market, Filipinos are more open to new innovations that make payments and banking more convenient, accessible and seamless. There is opportunity in the country for traditional banks and new players to launch digital banking services in the country that will better serve the needs of underserved and underpenetrated segments,” Dan Wolbert, Visa Country Manager for the Philippines and Guam, said.

BIR pressed to crackdown against POGO tax dodgers

By Butch Fernandez @butchfBM

T

HE Bureau of Internal Revenue (BIR) was pressed to crackdown against tax-dodging Philippine Offshore Gaming Operators owing P40billion in unpaid taxes, as Senator Riza N. Hontiveros renewed calls for law enforcers to compel errant POGOs to “pay up and ship out.”

Sen. Hontiveros affirmed Tuesday calls for the BIR to collect the over P40 billion unpaid franchise taxes that POGOs owed to the government and compel them to “leave the country: upon paying their tax debts.

“They (POGOs) need to pay up and leave (Kailangan na nilang magbayad at saka lumayas),” the Senator emphasized, noting reports that assorted crimes were linked to the arrival of POGOs, ranging from “kidnapping and prostitution.” (Iba’t ibang klase ng krimen ang nakakabit sa pagpapasok ng mga POGO, mula kidnapping hanggang prostitusyon.)

The lawmaker lamented that “the social costs that came along with the spike of POGOs in our country will always outweigh any revenue that the government may generate from them.

We simply do not need them.”

As chairman of the Committee on Women, Hontiveros led a year-long

Senate inquiry into the POGO-related prostitution and sex trafficking that also affirmed findings that “opening up the country to POGO exacerbated the corruption in the Bureau of Immigration.”

“Let us not forget the ‘pastillas’ scam at the Bureau of Immigration started upon the entry of Chinese nationals, mostly hired as POGO workers,” she added, lamenting that “kahit puro pasakit na ang dala ng mga POGO sa ating bayan, hindi pa makabayad ng tax nang tama.” [While POGOs have brought pain to our country, they don’t pay the proper taxes.]

The Senator emphasized that the BIR needs to collect tax debts owed by POGOs that can be used in government projects for Filipinos, at a time when jobs are hard to find amid the pandemic.

“Ngayon pa’t kaliwa’t kanang Pilipino ang nawawalan ng trabaho sa gitna ng pandemya, napakalaking tulong ng perang makokolekta diyan para masuportahan ang ating mga mamamayan,” Hontiveros said. [While Filipinos lose their jobs left and right amidst the pandemic, a huge amount of money can be collected there to support our people.]

She recalled that during the plenary interpellations on Senate Bill (SB) 2322 seeking to tax POGOs, Senators were told that POGOs had an estimated

unpaid franchise tax of P15.285 billion. The BIR told lawmakers that in 2019, their unpaid tax amounted to P14.230 billion, while in 2020, they owed P10.78 billion. As a result, she added, from 2018 to 2020, POGOs had a total unpaid franchise tax of P40.295 billion.

Moreover, Hontiveros recalled that in 2020, the joint task force of the BIR, Bureau of Immigration and the Department of Labor and Employment was able to inspect 196 offices, in which there were 23,000 foreign nationals in total, adding that of the 23,000, 1,632 did not have Alien Employment Permits.

The Senator said she was “sure there is more to this number of over 1,000 illegal POGO workers.”

“Hindi na panibagong balita na may mga ilegal na POGO workers. Malamang, sila din itong mga kasali sa mga krimen laban sa ating sariling mamamayan. Kapag hindi sila dokumentado, mas malakas ang loob nilang maghasik ng lagim sa ating lipunan.” [The presence of illegal POGO workers is no longer news. Most likely, they are also involved in crimes against our own people. If they’re not documented, they become more brazen to sow terror in our society.]

Hontiveros suggested that “the joint task force of the BIR, DOLE and

BI should do a better job at updating and providing us with historical data on the number of illegal POGO workers.

“Kung hindi natin alam kung sino ang mga ilegal, paano din natin malalaman kung sino ang mapapanagot? Hindi natin kailangan ang mga POGO at mas lalong hindi natin kailangan ang mga ilegal na POGO. At the end of the day, I remain resolute in my position that POGOs should pay up and ship out.”

[If we don’t know who the illegals are, how can we also know who will be held accountable? We don’t need POGOs and, even more, we don’t need illegal POGOs. At the end of the day, I remain resolute in my position that POGOs should pay up and ship out.]

Senators on Monday opened interpellations on the pending bill to tax POGOs after President Duterte wrote the Senate to include it among bills certified as urgent, in response to requests from economic managers scrounging for more funds for the pandemic response.

Hontiveros interpellated the “TaxPOGO” bill’s sponsor, Sen. Pia S. Cayetano, who chairs the Ways and Means committee.

SB 2232 amends the National Internal Revenue Code to allow for the taxation of POGOs, from which the government is looking to get P120 billion in revenue over the next four years.

HK calls on banks to push staff to get vaccinated

H

ONG Kong urged all banks to “strongly encourage” staff in client-facing roles or support functions to get vaccinated as the city struggles with local resistance to its free rollout.

Banks should “identify and draw up a list of designated staff expected to receive inoculation,” HK Monetary Authority Deputy Chief Executive

Arthur Yuen said in a circular to financial institutions on Tuesday.

Banks are required to submit the list of designated staff within two weeks.

The administration is increasingly looking to enlist local businesses and institutions to help get people vaccinated, as the Beijingbacked government struggles to convince reluctant residents in an

atmosphere of mistrust following widespread anti-China protests in 2019. A low rate of infections in the city has also damped demand for vaccinations.

Major companies, restaurants, and even colleges, have so far started offering cash payouts, extra time off, and even the chance to win a $1.4 million apartment.

The list should include staff involved in branch operations, wealth management and commercial banking, who have frequent face-to-face interactions with customers, the city’s de facto central bank said. Employees responsible for critical IT, data center, treasury and settlement operations, should also be included.

Treasury awards ₧35B in reissued 20-yr T-bonds; investor appetite strong

By Bernadette D. Nicolas @BNicolasBM

T

HE Bureau of the Treasury fully awarded P35-billion in reissued 20-year Treasury Bonds (T-bonds) on Tuesday on the back of strong investor appetite.

The auction was oversubscribed by almost 1.8-times as total bids for the security reached P61.91 billion.

With a remaining life of 19 years and 3 months, the security is set to mature on September 9, 2040.

However, the average rate for the security dropped to 5.084 percent,

25.7 basis points below the previous auction’s 5.341 percent.

Despite this, National Treasurer Rosalia V. De Leon said the average rate for the security is still aligned with the secondary benchmark rate.

“Saw strong reception for reopening of 25-11 with demand 1.5-times [the] offer. Rates for this security is aligned with secondary level yielding positive real rates,” De Leon said.

She further said the demand for longer-term securities is being driven by “market expectation that inflation will be tamed going into next year.”

On top of the primary auction, the Treasury also decided to open the tap facility for an additional P5billion offering.

Sought whether the Treasury is seeing an opportunity to conduct domestic liability management exercise in the second half of the year given the strong investor interest on longer tenors, De Leon said they “will continue watching market appetite,” adding that it “depends on real rates.”

For this month alone, the Treasury is aiming to borrow P215 billion from the local debt market, up by 26 percent compared to only P170 billion it

programmed to borrow per month in April and May. The bulk of the programmed domestic borrowings for June, or P140 billion, will now be raised through Treasury Bonds with longer tenors while the rest of the amount is planned to be raised by auctioning off P75 billion in T-bills.

For this year, the national government has set a P3.03-trillion gross borrowing program, roughly the same amount it borrowed in 2020.

Eighty percent of the amount is programmed to be raised through domestic sources while the remaining 20 percent is expected to come

from foreign sources. The country’s outstanding debt has also reached a new record-high of P10.77 trillion as of end-March this year, up by 27.1 percent from P8.48 trillion a year ago.

Dominguez had also said they still expect the country’s debt-toGDP ratio this year to still be below the 60-percent threshold.

The Cabinet-level Development Budget Coordination Committee also recently slashed its growth projection for the Philippine economy this year to 6 to 7 percent from its previous forecast range of 6.5 to 7.5 percent due to the emergence of new

Covid-19 variants and the re-imposition of stricter lockdown measures in the National Capital Region Plus during the second quarter of this year.

The Philippine Statistics Authority earlier reported that the country’s GDP contracted 4.2 percent in the first quarter of the year, marking the economy’s fifth consecutive quarter of decline.

Socioeconomic Planning Secretary Karl Kendrick T. Chua has said the economy needs to grow an average of 10 percent in the next three quarters to achieve the low-end of the government’s target.

B4

Show BusinessMirror

Wednesday, June 2, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Awkwafina, 33; Zachary Quinto, 44; Dana Carvey, 66; Wayne Brady, 49, Justin Long, 43.

Happy Birthday: Take your time and do things properly if you want to get ahead this year. Refuse to let anyone bully or manipulate you into doing something you don’t want to do. Your happiness and success depend on you taking charge and following through with your plans. Put a strategy in place, and don’t veer off course. Discipline leads to personal gain. Your numbers are 4, 12, 21, 26, 31, 39, 48.

REEL OR REAL?

This popular love team has been around for a long time but many people still don’t believe that they are a real couple. According to observers, the actor isn’t really into his partner and even his relatives know that. It’s only his immediate family members that are close to the actress and her family. Everyone else is not. The actress doesn’t attend her BF’s family reunions and gatherings. The actress’s family, meanwhile, is very supportive of the actor and his career. That’s because they are genuinely good people.

a

ARIES (March 21-April 19): Share only what’s necessary. The less others know about you, the easier it will be to get things done. An intelligent approach will open doors and encourage greater opportunities. Don’t argue over trivial matters. Your time is precious. HHH

b

TAURUS (April 20-May 20): A change will help you see your situation from a different perspective. Take advantage of shared information and turn it into something you use to help you advance. A take-charge attitude will help you win favors and acceptance. HHHH

JUST WORKMATES

Fans of a disbanded group are angry at one of the members for saying that he considers the others just people he’s worked with. Maybe these fans have forgotten that they should be angrier at another member who is problematic and who had committed several acts of violence against women and children.

At the height of the group’s popularity, this member got a minor pregnant. He abandoned the girl after a while and didn’t even support her and their child financially. It’s actually strange that a very popular actor is quite close to this group’s former member because the latter is known to have violent tendencies.

The actor is a matinee idol and this friendship with the person in question doesn’t seem to align with his branding as a public figure.

TOO CLOSE TO HOME

So the reason why the actress allegedly did not accept the lead role in a celebrated project is because it hits too close to home. The actress and her husband reportedly had a problem similar to the situation in the said project. The actress supposedly caught her husband having an affair but they chose to talk it out and give the marriage another try. While she wanted to do the project, which would have been her big drama comeback, the actress chose peace of mind over anything else.

ACTOR’S LIFELINE

THE actor hasn’t been working for a while. Lucky for him, he has many properties and valuables, including paintings that he’s managed to sell to keep himself and his family afloat. Recently, he received a work offer and he was blunt in saying that he is saying yes because he needs the money. The actor’s market value is still high so the person who made the offer also gave him a hefty advance on his talent fees. So, yes, the actor is back at work.

John Krasinski’s thriller sequel A Quiet Place Part II scored pandemic-best opening numbers.

Fueling box office rebound, ‘Quiet Place’ opens with $58.5M

N

By Jake Coyle The Associated Press

EW YORK—Moviegoing increasingly looks like it didn’t die during the pandemic. It just went into hibernation.

John Krasinski’s thriller sequel A Quiet Place Part II opened over the Memorial Day weekend to a pandemic-best $48.4 million, according to studio estimates on Sunday. Including the Monday holiday, the studio forecasts the film will gross $58.5 million in North America. It added another $22 million in ticket sales overseas. The film’s performance cheered a movie industry that has been punished and transformed by the pandemic. Paramount Pictures’s A Quiet Place Part II, which was on the cusp of opening in March 2021 before theaters shut, was the first big film this year—and one of the only larger budget Covidera releases beside Christopher Nolan’s Tenet—to open exclusively in theaters.

Chris Aronson, distribution chief for Paramount, called the opening “an unqualified success.”

“It’s a huge sigh of a relief and a sense of optimism for sure,” Aronson said. “Movies, moviegoing, movie

theaters aren’t dead. Yes, they’ve been threatened but they’re proving once again that they’re resilient and that people do want to have that communal experience.”

Many studios have trotted out hybrid release plans during the pandemic, debuting films simultaneously in the home. The Walt Disney Co. did that this weekend with its live-action PG-13 Cruella De Vil prequel, Cruella, making it available to Disney+ subscribers for $30. In theaters, it grossed $21.3 million, Disney said, and an estimated $26.4 million over the four-day weekend. Cruella also added $16.1 million in 29 international territories. Disney didn’t say how much the film made on the company’s streaming platform.

A Quiet Place II will also turn to streaming after 45 days in theaters when it becomes available on Paramount+. One clear result of the pandemic is that the theatrical window has shrunk, probably permanently. Three months was once the customary length of a movie’s run in theaters. The year’s previous best debut belonged to Warner Bros.’s Godzilla vs.

Continued on B5

‘Moonlight’ now streaming on iQIYI Ryan Ding of The Romance of Tiger and Rose and Esther Yu of the hit variety program Youth With You 2, star in a new romantic drama Moonlight, which was officially released for streaming on iQIYI International on May 20, a day in which couples celebrate “520,” also known as “I love you” in the mainland of China.

Moonlight is adapted from the popular online novel Chu Li is Here. The story unfolds in a publishing company where Zhou Chuan (Ryan Ding), a budding novelist, meets Chu Li (Esther Yu), a passionate rookie editor. Chu Li first met Zhou Chuan when they both wanted to purchase the same Natsume Soseki novel. Little do they know that they have long been chat buddies on the Internet. As coworkers, the high-spirited woman and the arrogant mentor develop a fiery love-hate

relationship online and offline while they work together to publish a book. Their relationship takes a sweet twist when they suddenly have to live together.

Ding pulls off a natural performance as the male lead, arrogant but at the same time giving out a sweetly funny vibe. meanwhile, Yu is adorable and down-to-earth, just as cute and kittenish as she was when she appeared in Youth With You 2.

Now streaming, two episodes of iQIYI International’s exclusive romcom drama Moonlight will be released every Thursday to Sunday at 8 pm, while VIP members can enjoy an exclusive early access to six episodes.

Moonlight can be viewed via the iQIYI app on smartphones, or www.iQ.com.

c

GEMINI (May 21-June 20): Too much too fast will lead to disappointment. If you want something done, do it yourself. Don’t rely on others or trust anyone with information that can thwart your plans. Concentrate on being your best; you’ll reach your target. HH

d

CANCER (June 21-July 22): Focus on your ideas and finishing what you start. A unique approach to something you enjoy doing will turn into a part of your everyday routine. A financial gain is apparent if you invest in yourself instead of others.

HHHHH

e

LEO (July 23-Aug. 22): Make a change for the right reason. Don’t feel you have to do what others do. Head in a direction that makes you feel good about what you do and how you live. Honesty, coupled with charm, is the best policy.

HHH

f

VIRGO (Aug. 23-Sept. 22): You’ll be drawn to smooth talkers. Think twice before you let someone persuade you to do something that can affect your reputation or position. Rely on those who have always offered sound advice. HHH

g

LIBRA (Sept. 23-Oct. 22): Look at the big picture. You are better off planning for the future with a fresh beginning. Let go of the burdens and responsibilities that don’t belong to you. Stop worrying about what others think or say. HHH

h

SCORPIO (Oct. 23-Nov. 21): Step outside your comfort zone and explore new possibilities. Refuse to let outside influences disrupt your plans. Don’t allow unfinished business to deter you from getting what you want. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): A methodical attitude will help you avoid trouble.

Distance yourself from people who play emotional games and are bad influences on you. Say no to indulgent behavior and yes to discipline and a healthy lifestyle. HH

j

CAPRICORN (Dec. 22-Jan. 19): You’ll find an interesting way to put your skills to good use.

A moneymaking deal based on something you do well will encourage you to start something new.

A partnership can be advantageous if you delegate responsibilities equally. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Keep an open mind, but don’t let anyone use emotional manipulation to get his or her way. Take a pragmatic approach to what you want to achieve, and set the standard for what’s acceptable and what isn’t.

Personal improvement is encouraged. HHH

l

PISCES (Feb. 19-March 20): You’ll find it difficult to get along with everyone. Listen more and say less. Size up what’s important to you and head down a path that leads to people who share your opinions and beliefs. HHH Birthday Baby: You are original, sensitive and chatty.

You are earnest and studious.

‘bean dip’ by sara cantor The Universal Crossword/Edited by David Steinberg

ACROSS 1 Protrude, with “out” 4 Broad neckwear 9 “C’est la vie” 13 Greek H 14 Group that sings hymns 15 Huge concert venue 16 Court, knight-style 17 Late March, say (theme hint: in this answer, switch the last word’s second letter with the one below it) 19 Poem such as “Gilgamesh” 21 Queen or drone 22 Consumed 23 Phoebe Buffay’s portrayer on Friends (...first word’s third letter...)

26 Reacts strongly to a sad movie 30 Kafka’s Gregor 31 What puts the icing on the cake?

33 Storefront info: Abbr.

35 Hunk 36 Aries animal 37 Egg layer 40 Perplexed 42 First half of a pronoun pair 43 Cheese sharpener

4 Food with an al pastor style 4 45 Best 47 Iowan 49 Dashes or sprints 53 Prefix with “freeze” 54 Come up with nothing (...last word’s fourth letter...)

58 Word paired with neither 60 A state of matter 61 Without repeating 62 Chinese regime known for its porcelain vases (...first word’s second letter...)

67 Currently 68 Toned down 69 Verb that sounds like a cow part 70 Flattering poem 71 Focusing condition, briefly 72 Drinks in steins 73 ___ Talks DOWN 1 Gems 2 Perfect place 3 Lao-tzu’s philosophy 4 Asexual, for short 5 When doubled, Japanese hot pot

6 Prepped, as an apple 7 Fuel tanker 8 Sample 9 Put a halt to 10 Hawaiian garland 11 Author ___ M. Martin 12 Droop 15 Fitting 18 Overlooked, as a fault 20 “Cold, hard” money 24 Activity that requires chops?

25 Norwegian capital 27 Plural possessive pronoun 28 Uninspiring 29 “___ time next week?”

32 Soak up 34 “Don’t get soaked!”

35 ___-mo 37 “LMAO” 38 Susan who played Belle on Broadway 39 Its eye is in many a witch’s brew 41 PC company 46 ___ Alto 48 Crowned, in checkers 50 Is unable to 51 Make into a cipher

52 Slantwise 55 Striped gem 56 Compost, e.g.

57 September flower 59 Drag queen Vander Von ___ 62 UFC combat style 63 Birth control option, for short 64 Indeterminate degree 65 Short pencil 66 Century’s 100: Abbr.

Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, June 2, 2021

GREEN BECOMES THE NEW CLEAN

THESE days, a clean home isn’t just spick-and-span, with everything in its proper place. It’s a space free of “invisible enemies”—harmful bacteria and viruses we unintentionally bring in from the outside.

Ironically, our home’s unseen adversaries also include the contents found in typical household and personal care products. Though formulated to kill dangerous germs, they contain ingredients that, even with short-term use, can irritate the eyes, skin and throat, and cause headaches, dizziness and vomiting, plsu trigger asthma with their strong, chemical scents. Volatile Organic Compounds (VOC), gases emitted from cleaning supplies and pesticides, also pose a huge threat to our health. Long-term exposure and inhalation could lead to cancer, kidney and liver damage, as well as damage to the central nervous system.

A recent virtual roundtable “Make Green the New Clean” marked the debut of Wonderhome Naturals (www.wonderhomenaturals.com), a proudly Filipino brand of complete, sustainable home care and personal care products that not only keeps homes clean but also it does it the green way. Its wide array of products—with categories in home care (laundry, kitchen, surface and bathroom), personal care (hand wash, hand sanitizer, linen spray), and lifestyle (organic cleaners for the yoga mat, gadgets and desk, and pre-poo spray)—are formulated with plant-based probiotics that cleans without damaging your health or the environment. Make no mistake though: this safe biodegradable formulation is strong where it counts: it’s certified by Intertek to kill 99.9 percent of household germs and is lab-tested to eliminate viruses and prevent recontamination for up to 72 hours. Not to mention, all Wonderhome products come in sophisticated scents made from fruit and plants that actually makes the person cleaning the house a little happier.

Green also describes the brand’s earth-friendly packaging and shipping practices. Wonderhome Naturals come in bottles made from a combination of upcycled ocean plastic and biodegradable wheat. The low carbon footprint modular packaging means that they fit snugly in shipping boxes to eliminate the use of plastic fillers. Bring these bottles back for recycling or refilling, and get store credits that can be used on your next purchases.

Also now available on Lazada, Shopee and Zalora, Wonderhome Naturals is co-founded by brothers Bryan and Marvin Chua, whose aim is to make sustainable, safe and strong products easily accessible to Filipinos. “Now that we’re spending more time at home, it’s important that we make it a safe and secure place for families,” says Bryan, who is also president of BFI, the company behind Wonderhome Naturals.

According to Marvin Chua, who also heads the brand’s Product Development Team, “Filipinos nowadays have a desire to switch to natural products but are apprehensive about their effectiveness.

Especially during the pandemic, it’s a challenge to convince people to convert to plant-based cleaning products when efficacy is the top consideration. We want you to use plant-based products without feeling that you compromised on cleaning power. Our main goal during product development was to benchmark Wonderhome’s cleaning performance against leading chemical-based products instead of other naturalbased brands. We had our products lab-tested and third party-certified to perform at least equal to or better versus their chemical-based counterparts.”

“Our products are lab-tested, hospital-grade, and certified 100-percent safe to ensure families live in clean and green surroundings. What’s more, our sustainable efforts of upcycling, recycling, refilling, and using biodegradable formulations and packaging reflect our commitment to do our part in protecting the Earth and its natural resources,” adds Bryan.

Indeed, even seemingly inconsequential choices like buying cleaning products leave a huge impact on the environment. Sustainability advocates like Anna Oposa, Executive Director of Save Philippine Seas, as well as Angel Mata-Jamilan, founder of Low Impact Filipina, are among those who consider the long-term effects of improper plastic disposal and toxic waste from cleaning products to the planet. “Progress, not perfection,” they both emphasized, and encouraged everyone to start with simple but sustainable choices that people can commit to everyday.

“The Philippines is the third-biggest plastic polluter in the world, producing 2.7 billion kilos of plastic waste annually,” reminds Bryan. “Moreover, 74 percent of our collected plastic waste ends up in the ocean. Wonderhome Naturals calls for a clean revolution. We want to lead the charge towards a greener future by providing consumers with a strong yet safe and sustainable option.”

THE most complete, fully sustainable homecare line made in the Philippines, Wonderhome Naturals also uses sustainable packaging.

PHOTO BY DARYA TRYFANAVA ON UNSPLASH

Thriving, not languishing M

ORE than a year of disrupted work and limited social interactions will take a toll on our mental health. While a privileged few have the capacity and means to amuse themselves while in quarantine, a great majority are stuck in their homes or forced to go out to work, fully aware of the risks to their health. These conditions will eventually wear us out and make us feel like we are just going with what is happening, seemingly unable to find the motivation to get up and work. That feeling is called languishing.

The term was first coined by Corey Keyes in 2002 to describe the opposite of flourishing, which is living with high levels of well-being. New York Times writer Adam Grant defines it as “the void between depression and flourishing—the absence of wellbeing.” In effect, one who is languishing feels that nothing is wrong, but nothing is right either. This is what others call a feeling of “blah” and “meh” accompanied by a feeling that they are just going through the motions of the day. What is significant about it is that this can become a risk for serious mental health if not addressed.

One suggestion by Grant in his article to shake off that feeling of languishing is to be in the flow.

Based on what he wrote, I think it is the same concept popularized by Mihaly Csikszentmihalyi who said that flow is “a state in which people are so involved in an activity that nothing else seems to matter; the experience is so enjoyable that people will continue to do it even at great cost, for the sheer sake of doing it.”

Some have been able to snap out of languishing by engaging in hobbies and activities that piqued their

interest, or something they wanted to do but have been putting off for a long time. Hence, people have started gardening and adopting pets to somehow find normalcy and purpose in their daily routine. These activities could be anything as long as you enjoy doing them and can sustain your interest.

Grant’s other suggestion is to focus on small wins. Look for projects or activities which are easily completed but provide enough challenge to exercise your creativity, tickle your scholarly interests, or reconnect with what you are passionate about.

Some have thrived during the pandemic by taking online courses and finishing a certificate on a skill for their professional development. A few have joined peer support groups and started helping people by telling their stories and sharing what works well for them. Meanwhile, others reconnected with their families and friends. What is important is the sense of fulfillment you find in completing an activity or task. This will spark and rekindle your motivation. His other suggestion is to schedule uninterrupted time where you can focus and just do what you need to do. This is understandable considering that working from home has blurred the lines between personal time and work time and made employees available on-demand. Whenever possible, block off time when you need to fully concentrate on what you are doing and let people know about it. Make it clear also that you are not available on certain times and cut off communication with the office when it is your personal time.

Aside from Grant’s suggestions, there are other ways you can get out of the slump. You can focus on your long-term goals. A high school friend once posted in social media that to motivate himself, he would look at his payslip. He trudged on and always kept the end in mind and reminded himself every day that he is not just doing it for himself but also for his family. Going back to what is important to you and reminding yourself of what you have accomplished so far can greatly help in giving you the added boost to keep on moving.

Speaking of moving, add physical activity to your routine. Any form of activity gives you a sense of accomplishment and releases endorphins and

dopamines—the happy hormones. Taking care of pets and grooming them, taking care of plants, and even starting your own fitness regimen will help in boosting your energy levels and provide the needed trigger to kickstart your other activities.

This may be counterintuitive but take breaks.

Productivity experts recommend taking breaks before moving on to the next task. Breaks give you the needed time to reset, regroup and allow your body and mind to rejuvenate before heading on to the next activity. A popular time management method is the Pomodoro Technique where you divide work into 25-minute segments and then take fiveminute breaks in between. Of course, not all work can be easily divided into 25-minute segments. The idea here is to take frequent breaks for your body and mind to catch up.

Listen and talk to people. One of the best things I have done during the pandemic was to join a peer support group so I can be trained to become a counsellor and at the same time allow me the opportunity to listen to people’s stories and be motivated by their triumphs and learn from their mistakes. And because most are working from home, we get to share stories of how we coped and we developed professional friendships with people we have not personally met yet. One of the things I got to enjoy was facilitating a peer support group and learning from strangers how they dealt with their situation.

If you can, change your setting. If you can, go for a road trip just so you can change your environment and have a different view, that would be great. If not, you can always take a walk around your community or rearrange the layout of your room, or a section of your house. Sometimes, a change of setting can help you notice things differently and encourage creativity.

Languishing by itself is not alarming. However, it can lead to other mental issues if left unattended.

It also makes us realize that our well-being is not limited to the physical alone, but includes our mental, emotional and social health. After all, knowing what it is and knowing we can do something about it goes a long way in preventing it from becoming problematic later. ■

Fueling box office rebound, ‘Quiet Place’ opens with $58.5M CONTINUED FROM B4 Kong, which opened with $32.2 million, or $48.5 million over its first five days, while simultaneously streaming on HBO Max. The contrasting release strategies between A Quiet Place Part II and Cruella offered a test case for Hollywood. How much does a day-and-date release cost a movie like Cruella in ticket sales? Is it worth it? Without knowing how much Cruella benefitted Disney+, a true comparison isn’t possible. But the strong returns for the theater-only A Quiet Place Part II are telling, says Paul Dergarabedian, senior media analyst for data firm Comscore. He called it a “pivotal weekend” for the movie industry that proved predictions of the movie theater’s demise “flat-out wrong.”

“That Quiet Place Part II did so well makes a strong case that a theatrical-first release for a big movie is

the way to go,” Dergarabedian said. “This is the best possible news for an industry that’s been dealing with probably the most profoundly challenging chapter in the history of the movie theater.” The debut of A Quiet Place Part II was much watched throughout Hollywood as the kickoff to its delayed summer movie season.

After largely sitting out the pandemic, or diverting to streaming platforms, a lineup of blockbusters are again queuing up. On tap are Warner Bros.’s In the Heights, Universals’s F9 and Disney’s Black Widow.

Last week, Universal Pictures’s ninth installment in the Fast & Furious franchise, F9, opened with $162 million in ticket sales in eight international markets, and $135 million in China alone. In its second weekend, F9, which opens in North America on June 25, raced toward $230 million worldwide.

In an interview ahead of the film’s release, Krasinski said a theatrical release was “nonnegotiable.” And Krasinski worked hard to stoke

excitement, traveling the country in the week leading up to release to surprise moviegoers. Still, given the circumstances, he had little idea whether audiences would come out.

“As bizarre as the entire year has been is how bizarre whatever opening weekend is,” Krasinski said.

“I don’t really know what it is anymore.”

In the end, A Quiet Place Part II performed a lot like how the first one did. That 2018 hit, which ultimately grossed $340 million globally on a $17 million budget, launched with $50.2 million in North American ticket sales. Sequels usually do better than the original but Part II had far more challenges due to pandemic.

Rich Gelfond, chief executive of IMAX, where A Quiet Place Part II earned $4.1 million domestically, called the film “the first domestic release this year to cross the threshold from ‘great opening weekend given the pandemic’ to ‘great opening weekend, period.’” ■

B5

B6 Wednesday, June 2, 2021

Fil-Am artist Rommel Rico stages ‘Salamat Frontliners’ virtual, charity exhibit on June 12

WFH woes: Mild discomfort, recurrent back pains should not be neglected

T

RUE to its mission, HI-Eisai Pharmaceutical, Inc., gathered medical experts to address the growing problems in muscle and joint pain due to the overwhelming work from home setup over the pandemic lockdown.

HI-Eisai Pharmaceutical Inc., a research-oriented pharmaceutical company committed to improving the health of all individuals, organized a freefor-all webinar on May 22 titled “Pabalikbalik na Sakit ng Likod at Kalamnan?

Huwag Balewalain, Pag-usapan Natin!” wherein medical experts tackled the bits and pieces of acute and chronic pain concerns to increase awareness on the matter, especially under a pandemic lockdown.

A decreased movement and an increased sitting time are common instances in a remote working setup.

Dr. Godfrey Robeniol, a neurologist tackled the different kinds of muscle pain commonly experienced; muscle pain (muscle ache), muscle spasm (involuntary and excessive contraction of muscle), and muscle cramps (a kind of spasm that is more painful but doesn’t usually last longer than 15 minutes).

“These acute concerns may grow to a kind of chronic pain when not

immediately acted upon or addressed by professionals. Seeking the doctor’s advice through teleconsultation when experiencing acute pain is strongly advised especially when it’s already been three to five days after self-medicating and there is no improvement,” the neurologist said.

Meanwhile, Dr. Romil Martinez, a rehabilitation medicine specialist, discussed the back pain red flags that indicate immediate attention as it may get worse when neglected.

The red flags are; (1) history of trauma, (2) urinary retention or loss of bowel control, (3) fever, night sweats, severe fatigue or unintended weight loss, (4) back pain lasting more than three months.

Weighing in the conversation is Dr. Marcelino Cadag, an orthopedic surgeon, who explained that most concerns can be diagnosed by physical examination to provide immediate action to the complaint.

“These muscle strains could root from activities like lifting too much weight, developing arthritis, and even slipped discs. The number one cause of lower back pain is muscle strain from sitting too long.

We suggest that for every hour of sitting,

stand up every five to 10 minutes,” Dr. Cadag said.

“We advise doing home exercises in the morning and before sleeping. It is good to undergo yoga or pilates, and acupunctures,” Dr. Martinez said.

Taking supplements are helpful especially when aging. Moreover, taking a balanced diet and being mindful of weight is also one way to prevent back and muscle pain concerns. This can be done through making exercise a habit and practicing good posture especially when sitting in work, Martinez added.

The 6 stretches for back pain relief: (1) Back Flexion Stretch, (2) Towel Hamstring stretch, (3) Piriformis muscle stretch, (4) Lateral Flexion Stretch, (5) Chair Hamstring Stretch, and (6) Kneeling Lunge Stretch The 5 exercises for lower back pain: (1) Plank, (2) Back Arch, (3) Swimming, (4) Bird Dog, (5) Table and Child’s Poses HI-Eisai encourages everyone for immediate medical attention especially when experiencing any of the red flags stated above to avoid possible worsening of the condition.

The full webinar can be accessed through this link: https:// fb.watch/5Ms8VX_5l4/

Bringing Filipino culture to the world on June 12

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HIS coming June 12 marks the 123rd Independence Day of the Philippines. What if June 12 became a celebration of Filipino culture, an annual reminder of the heritage that can help continue to forge Filipino identity? What if the celebration could be felt and shared by every Filipino?

Dama Ko, Lahi Ko is a call to celebrate Filipino culture through the five senses: paningin, pang-amoy, pandinig, panlasa, and pansalat. Each sense allows each Filipino to appreciate every piece of our culture. By integrating culture into everyday life, it can become our soft power, a way to appeal and attract preference towards destinations, products, services, and experiences that only the Philippines can offer.

Paningin celebrates the scenic views of our landscape, from our world-class beaches, lush tropical rainforests, and abundant marine life, to our colorful fiestas, intricate tribal patterns, and the warmest of smiles.

Pandinig celebrates the iconic sounds of the local scenery including the festive drumbeats during Atiatihan, the yell of the taho vendor, OPM playlists on repeat, or even the greeting, “Kumain ka na?"

Pang-amoy celebrates the Filipino scents that your nose can follow - the garlands of sampaguita at church, the pungence of durian, the good morning of kapeng barako, accompanied by the

inviting aroma of sinangag.

Panlasa celebrates the flavors you can savor across the archipelago’s 7,641 islands and beyond. Heirloom recipes during family gatherings, the contrasts of soy sauce and calamansi, puto bumbong and latik – Filipino flavors cover and color the entire spectrum.

Pansalat celebrates the intricate textures and handmade expertise ranging from the rattan bilao laden with pancit, baro’t saya made from pinya and abaca, to the textures of nature.

Dama Ko, Lahi Ko wants to bring into the spotlight. So get ready to become part

of this celebration. Share photos, videos, music, anything that showcases Filipino culture through the five senses. Tag us @ damakolahiko and #damakolahiko across Facebook, Instagram, Twitter, and Tiktok.

The Filipino Culture Collective, a group of creative professionals passionate about Filipino culture, have also prepared a website (damakolahiko.com) for free downloads of Dama Ko Lahi Ko logos, patterns, graphics, and more.

All these are free to use and remix. A sticker set is also available for download on Viber, Telegram, and GIPHY. (Just search "dama ko lahi ko.")

T

OWARD the notion of eliminating barriers to creativity in captivity due to the pandemic, Fil-Am visual artist Rommel Rico of New York City is holding a one-man virtual exhibit billed “SALAMAT FRONTLINERS” on June 12, 11:00 a.m.

This is under the auspices of VIRRCO Virtual Art in partnership with the UP College of Medicine Class of 1997 and FILMARTS as beneficiaries.

Early on, Rommel has held a successful one-man exhibit of his oeuvres at Pfizer Headquarters lobby, 42nd St., New York.

This earned him glowing reviews from art critics including art aficionados from as far as Europe, and South America.

They hailed his brush works for its Mediterranean allure, reflecting the haunting appeal of his diverse subjects and the tropical luminosity from his own fabled sunny island – Sibuyan, Masbate.

Into the pandemic, Rommel collaborated in a fundraising initiative with Duyan Project under the Project Red Ribbon Care Management Foundation, Inc., one of the country’s leading advocates to separate the care and treatment of children with HIV-AIDS from adults with the same affliction. His painterly works were emblazoned on fashionable quality t-shirts on limited editions and were up for grabs online that sold like hot cakes so to speak.

To recall, at the height of the pandemic he made history in the art circles of New York when he took to his paint brush showing in his acrylic on canvas Pres.

Rodrigo Roa-Duterte wearing a face mask in sheer confidence vis-a-vis ex-president Donald Trump without one in a comical mix of conceit and invulnerability.

He painted the controvesial portrait in his studio at Flushing, Queens, New York covered live for world broadcast by FilAm TV host-broadcaster Don Tagala in “Balitang America” for TFC (The Filipino Channel).

One of the more than 80,000 Filipinos who considers the Big Apple as his second home, Rommel was one of the proactive New York artists and nursing advocates who joined in celebrating the culture and contributions of Filipino community in the recently-held Filipino American History Month.

They were given a special tribute by New York City Mayor Bill de Blasio who thanked all of them for their incredible work and sacrifices, historically marking that America would not have literally survived the Covid -19 pandemic without the sacrifices of the Filipino brothers and sisters who served on the frontlines of the Covid -19 pandemic.

Rommel Rico’s virtual exhibit on hand will be hosted by former Filipino movie star and Fil-Am Giselle Tongi Walters.

This will also feature international performing artists Sheryn Regis and Jerome Armaquinton.

INC’s ‘Lingap sa Mamamayan,’ assistance project reaches out to media frontliners

NATIONAL Press Club (NPC) President Paul Gutierrez thanks the INC for the help extended to members of the media. He presented a certification of appreciation to the INC and its socio-civic arm, the Felix Y. Manalo Foundation through INC representative, Bro. Glicerio P. Santos IV.

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EMBERS of the media were among the beneficiaries of Iglesia Ni Cristo’s Lingap sa Mamamayan relief assistance project for people hardly hit by the pandemic.

The media frontliners who put themselves at risk amid the COVID-19 pandemic to bring valuable news and information to the public were given goodwill bags containing grocery items, vitamins, canned goods, and health essentials like face masks and face shields in a short ceremony held on May 28, 2021, at the INC compound.

Representatives of various media group, including the National Press Club (NPC) and the Philippine Movie Press Club (PMPC), attended the turn-over ceremony.

Undersecretary Joel Sy Egco, Executive Di rector of the Presidential Task Force on Media Security, noted that among the COVID-19 frontliners, it is the members of the media who are often forgotten.

“That is why we greatly appreciate this.

We in the Presidential Task Force on Media Security, including our media frontliners led by the National Press Club extend our gratitude to the Church of Christ, especially to the Executive Minister,” said Egco who came with the representatives of the various press corps in Metro Manila.

In their line of work, media members are exposed to the COVID-19 virus, he said.

He noted that many media workers also have to buy their own PPEs such as face masks and face shields which are needed in their line of work.

“Indeed, many got sick and hungry, and lost their jobs because of the pandemic. In spite of the fact that members of the media are frontliners too, they are the ones who are often not provided with PPEs.” In response, Bro. Glicerio P. Santos IV of the INC Finance Department, who represented the INC and the Felix Y. Manalo Foundation during the turnover ceremony said the activity “is a testament to the concern of the INC head, Brother Eduardo V. Manalo, for the welfare of everybody – both members and nonmembers of the Church.”

“The INC will not stop in helping our fellowmen as this is in accordance with the biblical teaching to love our fellowmen,” he said.

The INC is stepping up efforts to further help those affected by the COVID-19 crisis via the Church’s socio-civic programs and activities. The INC earlier this week also turned over thousands of goodwill bags to local government units (LGUs) in the National Capital Region Plus area. The same LGUs also received similar goodwill bags last month.

A homegrown local church founded and registered in the Philippines on July 27, 1914, by Brother Felix Y. Manalo, INC will be celebrating its 107th anniversary this year.

Its flagship program, Lingap sa Mamamayan (Aid to Humanity), has been helping those in need all over the world.

The Church has a strong presence in 158 countries and territories, and its members comprise of various nationalities.

BusinessMirror

Editor: Tet Andolong

Wednesday, June 2, 2021 B7

CLI eyes strong VisMin presence in economic and mid-market segments

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By Rizal Raoul S. Reyes

ESPITE the overall gloomy economic scenario brought about by the pandemic, Cebu Landmasters Inc. (CLI) remains bullish in 2021 with 25 projects in the pipeline with 15 focused on economic and midmarket residential segments in the Visayas-Mindanao (VisMin) region.

Jose Soberano III, president, chairman and CEO of CLI said these projects are collectively valued at P19 billion and reflects the company’s goal of making a strong presence in the two market segments. Moreover, CLI allotted P12 billion for its capital expenditure for the year.

At the same time, Soberano is confident CLI will finish all ongoing residential and other projects totaling 33 including mixed-use developments, hotels and townships.

As of the first quarter of 2021, CLI posted a 25-percent yearon-year increase in net income attributable to CLI shareholders from P572 million to P714 million. A strong sales performance boosted consolidated net income to 12 percent.

Furthermore, CLI is targeting a 15-percent to 20-percent increase in revenues from the P8.3 billion in consolidated revenues it registered in 2020. “Our 2021 projects will expand our VisMin footprint to cities like Ormoc, Bohol, Bacolod,

Dumaguete, Iloilo and other key cities in the region while further strengthening our market share in Cebu and Cagayan de Oro where we have established a strong presence,” according to Soberano.

Even at the height of Covid-19, CLI maintained its lofty position in the Visayas-Mindanao maintained its work force and even increased its headcount to over 600 employees by the end of the year.

“2020 was a very challenging year. But we at CLI chose to look at opportunities and focus on the brighter side when we could,” Soberano pointed out.

Building the company’s digital infrastructure early on the pandemic proved to be an advantage as it enabled CLI to connect with its clients in the local and overseas enabling them to select units all the way to making reservation payments. Furthermore, the online platforms and flexible payment terms were largely responsible for the company’s record reservation sales of P14.25 billion in 2020.

Project planning likewise con-

Lylah Ledonio

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Cebu Landmasters introduced phase 3 of the close to 12-hectare Casa Mira Linao in Talisay City, Cebu. Eight of the nine projects launched by CLI in 2020 are Casa Mira communities.

Cebu Landmasters continues to expand its footprint in the Visayas and Mindanao. This photo is an architect’s perspective of Casa Mira Homes Dumaguete, which was successfully launched last year among nine other projects despite the pandemic.

tinued even during lockdown periods with CLI personnel in the key cities of VisMin followed up on the close to 30 permits and other requirements needed to launch a project.

Thus, CLI was able to launch three of the 25 projects in Q1 2021 with more in the pipeline.

“We have deep roots in VisMin. We are homegrown and make the most of this unique advantage and expertise,” said Soberano.

Meanwhile, CLI sees a lot of opportunities for growth in the VisMin area where the housing backlog has been estimated at

800,000 units a year. Industry studies estimate that only 200,000 units are produced annually.

“We truly look forward to a better year. We hope to see even stronger buyer confidence as the vaccines continue to rollout,” he said.

‘Pinta ng Tibay’ Pintura Challenge Contest P

Building owners now required to use renewable energy

ioneer Adhesives Inc., makers of leading brand Pioneer Epoxy, is challenging boat makers all over the country to showcase their artistry and creative imagination through the Pioneer “Pinta ng Tibay” Pintura Challenge. The contest will run until June 30, is an open boat painting contest that aims to promote and showcase the creativity and craftsmanship of the Filipino wooden boat builders in Luzon, Visayas and Mindanao.

With the theme “Pyesta ng Bangkang Makulay at Matibay 2021” the contest is open to wooden boats ranging from 3 to 15 meters long and used either for

racing, fishing, recreational sailing, or as a passenger and tourist carrier. Pioneer is encouraging single participants, groups, and even communities to join the nationwide contest.

As part of the contest rules, all entries must use Pioneer Marine Quick Dry Enamel (PMQDE) and Pioneer Pearl Glaze as paint for the entire boat. The artwork can be done by brush, roller, or spray via compressor. Submission of entries is until July 9, 11:59 pm.

Criteria for Judging include Creativity (30 percent), Relevance to the theme (30 percent), Color Combination (30 percent), and Overall Impression (10 percent).

The Champion will win P70,000 in cash, and the runners-up and Voters’ Choice will also receive corresponding cash prizes with over P300,000 in total prizes.

Interested individuals or groups may visit the Pioneer Adhesives Inc. Facebook page https://www. pioneer-adhesivesive.com/pinta-ngtibay, and fill out the registration details.

Years of experience have honed the skill of boat makers to know the elaborate science of building the perfect seagoing vessel.

With Pioneer’s “Pinta ng Tibay” Pintura Challenge, it’s time to put their artistry to the test.

Reni Salvador

EW building owners and property managers in the country are familiar with new government laws and guidelines encouraging energy efficiency and conservation in the work place. These laws have become all the more urgent now that Metro Manila is a key office market in the globe and its landlords are now considered major energy users.

Republic Act 11285 or the Energy Efficiency and Conservation Law requ i res, a mong ot her mea su res, that at least 1 percent of the total power demand of a building must be generated by a renewable source such as solar photovoltaic panels.

To address the requirements of building owners and their property managers, Leechiu Property Consultants has partnered with the European Chamber of Commerce of the Philippines (ECCP) Real Estate Committee to sponsor a briefing on this law on June 4, Friday, at 10 a.m. via Zoom.

The briefing will be led by Atty.

Patrick Aquino director of the Energy Department’s Energy Utilization and Management Bureau and by Alexander Ablaza, president of the Philippine Energy Efficiency Alliance. Panelists will include building owners Raymond Rufino, president and CEO of NEO and Ricardo Cuerva, managing director of the Nova Group.

Leechiu Property Consultants’ Executive Director Lylah Ledonio, who is also chair of the ECCP Real Estate Committee, explains that building owners or landlords need to be re-oriented on this law especially because its implementing rules and regulations were passed in May 2019. “We organized this forum so that government regulators and building owners can have a meeting of minds,” she said.

Those who adhere to the Energy Efficiency law’s key provisions are set to reap benefits including savings in energy costs, one of the biggest expenses in running an office tower. One of those provisions, for instance, is for building owners with an annual consumption of at least 500,000 kilowatt hours to employ a certified conservation officer tasked to find ways to save energy.

The ECCP Real Estate Committee promotes collaboration among industry players by bringing together key players to share best practices, insights and relevant data. Those interested in joining its June 4 forum may contact advocacy@ eccp.com. or lj.lombos@eccp.com R A 11285 was passed into law in 2008 to promote the use alternative sources of energy. Its purpose was to ensure that the country would minimize its dependence on fossil fuel while promoting energy sources that help sustain the planet.

Poll findings raise awareness of impact of community quarantines on MyTown residents

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Y TOW N, the Philippines’s largest co-living company, conducted a second survey among its thousands of tenants in April 2021 on how the pandemic and resulting community quarantines have impacted young professionals, particularly on the importance of community and connection.

The World Health Organization has listed “social support networks” as one of the factors that determine health and happiness.

MyTown provides such crucial social support networks through fostering a co-living community among its tenants, affectionally called “Townees.”

The survey results confirm this,

as 71 percent of tenants believe that living in MyTown has made them less lonely over the last year, up from 64 percent in 2019 before the pandemic broke out. Over 90 percent see MyTown as a “home away from home,” compared to 80 percent in 2019. Seven out of 10 tenants believe that MyTown cultivates an environment where they can make new friends and connections despite the lockdowns.

“The pandemic seems to have accelerated urban loneliness, and we see that co-living helps our tenants weather the pandemic better,” said Drixel Ortega, chief customer officer at MyTown.

MyTow n promotes ment a l wellness while being compliant

with Inter-Agency Task Force on Emerging Infectious Diseases, Department of Health and international health and safety guidelines. These include online events, informative flyers and posters, access to MyTown’s wide range of amenities that promote mental and physical wellness such as fitness centers, a swimming pool, coworking desks, and recreation spaces.

According to MyTown’s survey results, over 90 percent of tenants are satisfied with the Covid-19 guidelines implemented by MyTown, which were created with the help of experts at INSEAD and Oxford University and have been shared online for the benefit of

other co-living players and other interested parties.

MyTown, the co-living brand owned by Philippines Urban Living Solutions with SM Investments Corporation as majority shareholder, is the largest and most prominent co-living brand in the Philippines with 18 modern and luxurious co-living properties located all within 5 minutes walking distance from Bonifacio Global City (BGC) and Makati CBD. It was awarded Best Co-Living Space in 2019 by Lamudi and Best Impact & Sustainability Coliving Operator at the 2021 international Coliving Awards. To know more about MyTown Co-Living, please visit www.mytown.ph.

Sports

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AOMI OSAKA withdrew from the French Open on Monday and wrote on Twitter that she would be taking a break from competition, a dramatic turn of events for a four-time Grand Slam champion who said she experiences “huge waves of anxiety” before speaking to the media and revealed she has “suffered long bouts of depression.”

Osaka’s agent, Stuart Duguid, confirmed in an e-mail to The Associated Press that the world’s No. 2-ranked tennis player was pulling out before her second-round match at the clay-court tournament in Paris.

The stunning move came a day after Osaka, a 23-year-old who was born in Japan and moved with her family to the US at age 3, was fined $15,000 for skipping the post-match news conference after her first-round victory at the French Open. She also was threatened by all four Grand Slam tournaments with possible additional punishment, including disqualification or suspension, if she continued with her intention—which Osaka revealed last week on Twitter—to not “do any press during Roland Garros.”

She framed the matter as a mental health issue, saying that it can create self-doubt to have to answer questions after a loss.

“First and foremost we are sorry and sad for Naomi Osaka. The out-

BusinessMirror

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mirror_sports@yahoo.com.ph Editor: Jun Lomibao

OSAKA WITHDRAWS FROM FRENCH OPEN

NAOMI OSAKA pulls out before her secondround match. AP

Surfers hanging on in El Salvador elims

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HE country’s bets in the World Surfing Games Olympic Qualifiers in El Salvador didn’t do well in the second round on Monday and are now pinning their hopes on making the continental quota to earn tickets to the Tokyo Olympics.

“It’s not really about the number of rounds,” team official Ralph Tecson told BusinessMirror on Tuesday. “Remember, Indonesia is the only competitive rival in the Asian continental qualifiers, our surfers just have to finish higher than Indonesia or any other Asian team to make the Olympics.”

Japan is already qualified for the July 23 to August 8 Games where surfing is making its Olympic debut.

Rogelio Esquievel Jr. and four of his teammates were relegated to the repechage rounds of the qualifiers being staged at the La Bocana and El Sunzal coasts in Surf City in El Salvador.

Esquievel beat Australia’s No. 1 Owen Wright, 10.23-8.10, in Heat 32 of the Men’s Round 1, but couldn’t sustain his form in Heat 16 of Round 2.

He fell to fourth place and into the repechage. Mexican Alan Cleland topped that round with 10.90 followed by Frenchman Michel Bourez with 6.40 and Russian Nikita Avdeev with 6.10.

“We couldn’t find some luck where Esquievel only needed 1.57 to advance even in a single maneuver,” Tecson said. “Luck is a big part in surfing unlike other sports where skills play a big factor. No waves had come out for them.”

John Mark Tokong placed third in Heat 7 of Round 2 with 6.57 points behind Italo Ferreira (13.93) of Brazil and Indonesian Rio Waida (12.26).

Edito Alcala Jr. also placed third place with 8.39 score to find himself in the repechage.

Nilbie Blancada advanced to the third round after placing second in Round 2 of Heat 6 of women’s play with 6.53. She finished behind No. 1 Leticia Canales (9.33) of Spain.

Daisy Valdez and Vea Estrellado were also relegated to the repechage in the women’s contest. Indonesia sent three men and one woman to the third round and one man and two women surfers to the repechage. Josef Ramos

come of Naomi withdrawing from Roland Garros is unfortunate,” French tennis federation president Gilles Moretton said Monday. “We wish her the best and the quickest possible recovery. And we look forward to having Naomi in our tournament next year.”

Moretton said the four major

tournaments, and the professional tennis tours, “remain very committed to all athletes’ well-being and to continually improving every aspect of players’ experience in our tournament, including with the media, like we always have.”

In Monday’s post, Osaka spoke about dealing with depression since

Pangilinan, Vasquez kata hopefuls in Paris qualifiers

SARAH PANGILINAN brings her act to Paris.

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ARAH PANGILINAN and Joco Vasquez are hoping to qualify for karate’s kata competitions when the sport makes its Olympic debut in Tokyo.

Pangilinan, a Filipino-Japanese who turned 18 only last May 21, settled for a bronze medal in the 2019 Southeast Asian Games, but is confident of pulling off a surprise in the Olympic qualifiers set at the Accor Hotels Arena Sports Hall in Paris, France, from June 11 to 13.

“I believe I have a big chance of making it to the Olympics because all the strongest kata artists have already qualified for Tokyo,” Pangilinan told BusinessMirror on Monday from her home in Osaka. “There’re only a few strong opponents left.”

Spain’s Sandra Sanchez Jaime, the world No. 1, already qualified for the Games by virtue of her ranking in the World Karate Federation (WKF), and so are No. 2 Kiyou Shimizu of Japan, No. 3

Viviana Bottaro of Italy and No. 4 Grace Mo Sheung of Hongkong.

She is ranked No. 64 in the WKF and No. 78th in the Olympic standings, but that doesn’t bother Pangilinan, who at 15 won gold medals at the Asia Pacific Shitoryu Karatedo Championship in Indonesia and the All Japan Shitoryu Karatedo Championships in 2018.

She will fly to Paris from Tokyo with her Japanese mother Miyuki on Monday, but his Filipino father Ritchie will be left behind because of his job as a hotel chef. Her sensei Sonoyama Masae won’t join her in Paris but will monitor her online.

Vasquez, a 20-year-old pride of Dagupan City, will be accompanied in Paris by coach Chino Veguillas also on Monday.

The Pangasinense Vasquez ranks No. 5 in the Asian Karate Federation kata under-21 ranking and No. 20 in the world in the same age group.

He clinched a silver in the Southeast Asian Karate Championships last April in Bangkok and bagged an individual and team bronze medal in the 2019 SEA Games.

Another Filipino-Japanese, Junna Tsukii (women’s -50 kg), is on the Karate Pilipinas roster of Olympic hopefuls in kumite, along with 2019 SEA Games gold medalist Jamie Lim (women’s 68 kgs) and bronze winner Joanne Orbon (women’s 61 kgs), Ivan Agustin (men’s -75 kg), Sharief Afif (men’s +75 kg), Jason Macaalay (men’s -67 kg) and Alwyn Batican (men’s -67

to August 8 and the SEA Games scheduled November 21 to December 3.

Vietnam imposed a “no vaccine, no participation” policy in the SEA Games, where the Philippines is the defending champion.

Nine Filipinos have so far qualified for the Olympics.

They are gymnast Carlos Yulo, weightlifter Hidilyn Diaz, rower Cris Nievarez, pole vaulter EJ Obiena, taekwondo jin Kurt Bryan Barbosa and boxers Eumir

Felix Marcial, Nesthy Petecio, Carlo Paalam and Irish Magno.

The Philippines is fielding 626 athletes who will participate in 39 of the 40 sports in the Hanoi SEA Games.

PATRICK COO, 19, gets to race with the big boys of BMX racing.

tickets to the eight-team lineup at the games.

The Americans were world champions in 2019 and had former National Basketball Association players Dominique Jones and Robbie Hummel on a four-player roster for the qualifying event in Graz, Austria.

The Dutch were joined by

Latvia and Poland in an Olympic lineup that already included Japan, China, Russia and Serbia. The eighth place will be awarded at a tournament this week in Hungary for lower-ranked nations.

The US women did advance in Austria to the Olympics along with France and Japan.

A final women’s place is also awarded this week in Hungary to complete the eight-nation Olympic field that includes China, Mongolia, Romania and Russia. AP

unbeaten French foe of Moroccan descent (17-0, 12 KOs) in the fourth round of a scheduled 12-rounder in Carson City, California.

“Age is just a number,” said Donaire, now a proud five-division champion after winning world titles in the flyweight, superflyweight, super-bantamweight and featherweight divisions since first crowning himself a world champion 14 years ago.

So overjoyed was Donaire—his vaunted left hook floored Oubaali three times, the third a crippling uppercut to Oubaali’s chin that left him plastered and flustered against the ropes where the referee waived him off—that the Bohol-born Nonito declared a wish to unify the belt ASAP.

“I want a rematch against Inoue [Naoya],” said Donaire, itching to avenge his defeat that saw him inflict a broken eye socket to the Japanese in November 2019.

Surely, that’s one fight worth looking forward to.

Over in Japan on Sunday, Juvic Pagunsan, 43, won the Mizuno Open, beating local hotshot Ryutaro Nagano by a comfortable three strokes at the JFE Setonaikai Club in Okayama Prefecture.

The win ended Pagunsan’s 10-year losing drought, finishing second seven times before bagging his breakthrough triumph in the tough Japan PGA Tour where the likes of Filipino legends Ben Arda and Frankie Minoza made their marks decades back.

It made him P5.2 million richer—his biggest paycheck ever— coming when Pagunsan perilously played without a caddy due to health protocols.

And, holy smokes, the win will bring Pagunsan back to the British Open, set this July at Royal St. George’s after the pandemic canceled golf’s oldest tournament last year.

Pagunsan will have a chance to improve on his 72nd finish after surviving the cut in his first Open in 2012 at the Royal Lytham & St. Anne won by my friend, Ernie Els. But the weekend wins were somewhat blemished by Eumir Felix Marcial’s loss in Dubai as the country’s best bet for boxing’s gold in the Tokyo Olympics bowed to the unheralded Saidjamshid Jafarov of

Go commends govt for vaccines

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EN. Christopher “Bong” Go lauded the government’s effort to heed an earlier appeal to include in the priority list for Covid-19 vaccination Filipino athletes and other delegates who will be participating in the Tokyo Olympics and the Hanoi 31st Southeast Asian Games.

“I thank the government for heeding the appeal for the

early vaccination of athletes,” Go, chairman of the Senate Committee on Sports, said.

“They are competing for flag and country so it’s only right to shield them from the virus.”

Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino initiated the vaccine rollout last Friday for athletes bound for the Olympics set from July 23

US out of 3x3 hoops in Tokyo

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RAZ, Austria—When the 3-on-3 street version of basketball makes its Olympic debut in Tokyo, the United States men’s team won’t be there.

The US lost to the Netherlands in the quarterfinals of an Olympic qualifying tournament on Sunday that offered three

Donaire and Pagunsan shine—but not Marcial AL MENDOZA | alsol47@yahoo.com

THAT’S ALL ONE won in America, the other in Japan.

In a stunning performance that deftly defied Father Time, the 3-1 underdog Nonito Donaire knocked defending champion Nordine Oubaali out in the fourth round to capture the World Boxing Council (WBC) bantamweight crown.

Donaire’s telling 27th knockout

| Wednesday, June 2, 2021

the 2018 US Open, which she won by beating Serena Williams in a final filled with controversy.

“I would never trivialize mental health or use the term lightly,” Osaka wrote, explaining that speaking with the media makes her anxious.

“I think now the best thing for the tournament, the other players and my well-being is that I withdraw so that everyone can get back to focusing on the tennis going on in Paris,” Osaka wrote.

“I never wanted to be a distraction and I accept that my timing was not ideal and my message could have been clearer.”

She continued: “Anyone that knows me knows I’m introverted, and anyone that has seen me at the tournaments will notice that I’m often wearing headphones as that helps dull my social anxiety.... I am not a natural public speaker and get huge waves of anxiety before I speak to the world’s media.”

Williams was asked about Osaka on Monday after winning her opening match in the first scheduled night session in French Open history.

“I feel for Naomi. I feel like I wish I could give her a hug because I know what it’s like.... I’ve been in those positions,” Williams said. “We have different personalities, and people are different. Not everyone is the same. I’m thick; other people are thin. Everyone is different and everyone handles things differently. You just have to let her handle it the way she wants to, in the best way she thinks she can, and that’s the only thing I can say. I think she’s doing the best that she can.” AP

victory in his 47th fight in two decades or so awesomely shocked the world because it made the 38-year-old Filipino Flash the oldest bantamweight (118 lbs) world champion in history.

“The human body is an incredible machine,” said Donaire, scoring two knockdowns in the third round before finishing off his

Young Coo gains precious experience from Bogota stint

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By Josef Ramos

HE men were separated from the boys at the Tokyo Olympics qualifier for cycling’s BMX racing in Bogota with Filipino-American Patrick Coo failing to advance to the Games but succeeding in gaining the experience of competing against grizzled veterans at the Union Cycliste Internationale (UCI) BMX Supercross World Cup. “I’m always proud to represent the Philippines in any competitions abroad, I’ll give it another shot,” Coo said on Tuesday. “It’s been my dream and I hope to win a medal for the Philippines. I am proud to be a Filipino.”

Coo, only 19, was given the call up to vie in the Olympic qualifier in the Colombian capital, thus foregoing his classification in UCI BMX cycling as an under-23 rider to an elite competitor.

He wound up 42nd in a field of 62 riders in Stage 3 of the qualifiers held at the Pista BMX track on Saturday and was 45th in Stage 4 on Sunday. The Last Chance races also didn’t smile on Coo, the Asian juniors champion two years ago.

“It was really a last-minute thing and we did our best,” said Coo, who was accompanied in Bogota

by PhilCycling coaches Ednalyn Hualda and Frederick Farr. “I’m so thankful to everyone, especially to Congressman Abraham Tolentino for assembling this really quick.”

“We really gave our all. My first World Cup—with a big expectation—I tried to live up to it but it was hard, my best wasn’t good enough,” he added.

“Patrick did his best, and I am proud for him for being so,” said PhilCycling head Tolentino, also the Philippine Olympic Committee president. “He’s still young and he’s got a lot of BMX racing ahead of him.”

Coo was the only Filipino— and only Asian—to vie in Bogota.

Daniel Caluag, the 2014 Asian Games gold medalist and London 2012 Olympian—skipped the qualifier, saying he’s not in shape as his job as a medical frontliner (nurse) in Kentucky kept him away from training during the pandemic.

The California-based Coo said the experience he got from Bogota inspired him to work harder.

“Every time I compete in the US, I have a Philippine logo in my jersey uniform,” he said. “I am planning to train and compete at home.”

Coo is the youngest in a brood of three. His Filipino parents are Benjamin and Romalyn.

“I have learned that the junior league speed is different in the Olympic qualifying level and we’re going to step up in the next few races,” Coo said.

“We really need to develop Patrick because he has the potential,” Hualda said. “He would not be featured on the Olympic.com if he has no potential.”

Uzbekistan.

It was made more embarrassing by the lopsided 5-0 loss, prompting boxing chief Ricky Vargas to describe it as a “most heartbreaking performance” since Marcial was the No. 1 seed in the tournament.

Is Marcial’s litany of rants against alleged lack of financial support for him taking its toll, distracting him and losing focus on the Olympic goal at hand?

The Tokyo Games is just seven weeks away. Marcial has a lot of catching up to do.

THAT’S IT Happy birthday today (June 2) to Coach Dayong, one of the assistant coaches at San Miguel Beer of the Philippine Basketball Association. Cheers!