BusinessMirror June 03, 2022

FSCC in ‘ p reemptive’ mode vs global disruptions PHL PHLto tofix fixweak weakspots spotsin inpath pathto to$500-B $500-Bdream dream

L

OC A L f A i n a nc i a l reg uB S lators said they remain  A C B S A s kBloomberg eA w e d t oNews preemptive C

mandates Bloomberg to be vigilant News against HILIPPINES’S ecosystemic risks toincoming the country’s nomic planning HILIPPINES’S incoming Arecofinancial system. secretary senio Balisacan plans to bol-Arnomic planning secretary In a statement on Thursday, ster thesenio economy’s weak spots Balisacan plans to as bolFinancial Coordihethe targets leastStability 6-percent ster the ateconomy’s weak annual spots as nation Council (FSCC) they growth throughout the termsaid of Preshe targets at least 6-percent annual remain vigilant potenident-elect Ferdinandagainst Marcos growth throughout the termJr. of PresThedisruptions next Ferdinand administration must tial from global ident-elect Marcos Jr.deboost investment in agriculture Th e next to administration must velopments ensure that and Filimanufacturing and infrastrucboost investment ina “agriculture and pinos can rely onbuild functioning ture to grow the and economy between manufacturing build infrastrucfinancial system.”

6-8 percent annually to 2028,between Baliture the “ Tto hegrow nc ieconomy l w i l lWednesa lw ay s sacan inC ou an interview 6-8 said percent annually to 2028, Balichoose to be day. sacan said in preemptive an interview against Wednespossible said Farm andsystemic industry risks,” output curday. rently account 40 ngko perFSCC C hand a i rfor m aless n athan ndoutput Ba Farm industry curcent of gross product, rently account for less than while 40GovperSentral ngdomestic Pilipinas (BSP)

PP

cent of gross domestic product, while

ROTARY CLUB OF MANILA JOURNALISM AWARDS

ernor contributes Benjamin the E. Diokno services majority.during the recent meeting of FSCC, “I would like to see those weakest services contributes the majority. which alsopriority affirmed the counpoints the of the adminis“Ias would like to see those weakest try’s domestic economic tration,” said 64-year-old, who’s pointsstrong as thethe priority of the adminiscurrently of the nation’s performance. tration,”chairman said the 64-year-old, who’s antitrust currently chairman the nation’s The commission.

FSCC is an ofinteragency Consistently growingofat the the rate antitrust commission. council composed BSP, of 6 percent for sixgrowing years will make Consistently at the rate t he De pa r t ment of Fi n a nce, Philippines a for half-a-trillion dollar of 6 percent six years will make the Insurance Commission, the economy, according to Bloomberg Philippines a half-a-trillion dollar Philippine DeposittoInsurance calculations. economy, according Bloomberg The nation’s fiand rst-quarter expanCorporation the Securities calculations. sion 8.3 percentfiCommission. is already among andof ThExchange e nation’s rst-quarter expanAsia’s thanks thefinancia reopension of already among Itfastest, is 8.3 thepercent venueisto for l ingAsia’s fromfastest, the pandemic.

Marthanks the reopenmarket author ities to toStill, identif y, cos’s immediate challengingteam fromfaces the pandemic.

Marmanage, and Still, mitigate es:monitor, inflation is at its fastest inchallengthree cos’s team faces immediate the build-up ofcit systemic isks years, budget has widened es: infl ation isdefi at its fastest inr three iyears, n the t hglobal ebudget Ph outlook ilip p icit nhas e has fdimmed. i n widened ancia l and defi Still, said the system. and theBalisacan global outlook haseconomy dimmed. can expand by at least 7 percent Still, Balisacan said “ T h e g l o b a l o u tthe l o oeconomy k this has can expand by at least 7 percent this

c hawithin nged the sig nif ica nt ly dow year, official growth esti-nwards overthe therecovery last sixfrom months, mate, riding year, within the official growththe estiand yet our first quarter growth record contraction in 2020 from due tothe mate, riding the recovery was a strong yearthe pandemic.

He8.3 saidpercent will push record contraction inhe2020 due to for more targeted support measures on-year.

This He refsaid lects the push rethe pandemic. he will tosilience easemore inflation’s on the poor for targeted support measures of theburden local economy,” while ensuring “tight” government to ease infl ation’s burden on the poor Diokno said. finances are managed properly. while ensuring “tight” government T hecanFSCC a lso noted t hat achieve moreproperly. with less,” fi“We nances are managed the first-quarter growth hewith said, adding that a review and “We can achieve more with less,” outperforming market expecstreamlining of benefi are he said, adding that aciaries review and needed.

Theprospects nation af-are tations, forcannot the econstreamlining of also benefi ciaries ford removal certain onafomy “differ significantly” from needed.

The of nation also taxes cannot goods proposed by some the sectors, ford asremoval of certain taxes on global trends; and that local hegoods said. as proposed by some sectors, growth momentum is expected hebe said. to sustained despite f luidity

Experienced economist of marketswill worldwide.

BALISACAN draw from his exExperienced economist

“ This waswill validated byhisthe perience in crafting a newfrom economic BALISACAN draw exdevelopment plan. Before taking recent Monetary perienceInternational in crafting a new economic helm of the antitrust body, he served development plan.

Before taking Fund [IMF] statement which helm of the antitrust body, he served

a higher growth forecast asshowed economic planning secretary of forlate 2022 for the Benigno country Aquino despite the president as economic planning secretary of athe significant reduction in global from 2012 2016. late to president Benigno Aquino To sustain growth of at growth,” from 2012Diokno toeconomic 2016. said. leastThe 6 percent, the next administraFSCC also announced To sustain economic growththat of at tion must addressthe redlaunch tape administraand 6 percent, next itleast will officially itsbuild Sysinfrastructure needed totape attract intion must address redManagement and build temic Risk Crisis vestment in manufacturing and ag-ininfrastructure needed to attract (SRCM)said Framework on riculture, whoMonday. holds vestment inBalisacan, manufacturing and aagThe SRCM identifies key ac-a PhD in Economics from the Univerriculture, said Balisacan, who holds tions required to assess, sity of Hawaii.

PhD in Economics from thecategoUniverGiven a budget cit inflated rize, anddefi communicate sity ofmanage, Hawaii. bysystemic pandemic-era support Given risks. a budget defiprograms, cit inflated companies develby“pandemic-era support programs, This and is anmultilateral important preopment agencies may be tappeddevelcompanies and multilateral empt ive init iat ive to ensutore finance roads, rail and heto opment agencies mayirrigation, be the tapped crisis preparedness at syssaid.

Balisacan the finance roads, helped rail andmanage irrigation, he tem and reflects the CounAquino administration’s flagship said.level Balisacan helped manage the cil’s commitment to managing public-private partnership infraAquino administration’s fl agship systemic risks,”partnership the FSCC said. public-private infra-

BusinessMirror

2006 National Newspaper of the Year CLUBNewspaper OF MANILA JOURNALISM AWARDS 2011 ROTARY National of the Year National Newspaper the Year 2013 2006 Business Newspaper of theofYear National Newspaper the Year 2017 2011 Business Newspaper of theofYear Business Newspaper the Year 2019 2013 Business Newspaper of theofYear Business Newspaper of the Year 20212017 Pro Patria Award 20192018 Business Newspaper of the Year PHILIPPINE STATISTICS AUTHORITY Data Champion 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

AAbroader look at today’s business look at today’s business A■broader broader look at today’s business Thursday, June 2, 2022 Vol. 17 No. 237

S “PHL,” A Bianca Cuaresma S “PHL,” A

EJAP JOURNALISM AWARDS

BUSINESS NEWS EJAP JOURNALISM AWARDS SOURCE OF THE YEAR BUSINESS (2017, 2018, 2019,NEWS 2020) SOURCE OF THE YEAR

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2019, 2020) 2018 BANTOG(2017, MEDIA2018, AWARDS

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

‘PHL’S RESTS AUSTERITY PITCHED AS ‘PHL’S H2 H2 GROWTH GROWTH RESTS www.businessmirror.com.ph www.businessmirror.com.ph www.businessmirror.com.ph

P. P25.00 nationwide| |2 sections 22 pages| |77DAYS daysAaWEEK week P.  |     | 7 DAYS A WEEK

Friday, JuneJune 3, 2022 Vol. 17 No. 238 Thursday, 2, 2022 Vol. 17 No. 237

n ■

ON NEW ECONOMIC TEAM’ ON NEW ECONOMIC TEAM’ NG’S DEBT HITS P12.76T

By Bernadette D. Nicolas @BNicolasBM

& Samuel P. Medenilla @sam_medenilla

T

HE national government’s outstanding debt soared to another record high at P12.76 trillion as of end-April, just two months before President Duterte steps down from office.

Latest debt report from the Bureau of the Treasury on Thursday showed the country’s debt stock rose by 0.7 percent NEWLY elected candidates from Makati City led by Mayor-elect Mar-Len Abigail “Abby” Binay-Campos, Vice Mayor Monique Lagdameo, 1st District Rep. Romulo “Kid” Peña, 2nd District Rep. Luis Jose Campos Jr. and councilors from the first and second districts pose for a or P83.4 billion from P12.68 trillion as photo after taking their oath before Court of Appeals Associate Justice Maximo de Leon at Makati Coliseum in Makati City. The oath-taking ceremony coincided with the 352nd Makati Foundation Day 2022 celebration. ROY DOMINGO of end-March this year due to the net issuance of government securities to both local and external lenders and the depreciation of the peso against the US Dollar.

The latest debt level also jumped by 16.1 percent or P1.77 trillion from P10.99 trillion as of end-April last year.

By Jasper Emmanuel Y. Arcalas

By Andrea E. San Juan global sourcing had become the Domestic debt, which comprised 70 June 1 was the last session day and fishermen for RCEP. The @jearcalas problem “because of the Ukraine percent of the total, grew by 0.8 percent of the 18th Congress. group noted that there is a R ADE Secretary Ramon issue, [and] the supply chain dismonth-on-month to P8.94 trillion as “The Senate heeded earlier need to “mitigate” the threats HE Federation of Free Lopez has urged local proruption [that is taking place] beof end-April from P8.87 trillion. It also calls from the FFF and other of the trade agreement on “vulTHE BRP Melchora Aquino,percent the second from of two multi-role response vessels procuredF byathe Philippine is welcomedlabor by the Philippine CoastsociGuard at the Port Area in Manila on Wednesday, June 1, 2022, completing its maiden voyagetofrom Japan.

Shipbuilding Co. in Japan, the ducers step upConstructed amid theby Mitsubishi cause of the difficulty inship, thenamed exterrm e r s (government F F F ) ofrom n Japan,farmers, surged by 14.4 P7.8 triland civil nerable sectors” and “actually after Tandang Sora, the Grand Woman ofofthe Revolution during thevessels Spanish colonialbyperiod, is part ofgovernment the Maritimefrom Safety Capability Improvement Project ofCoast the Coast Guard.

ROY DOMINGO THE BRP Melchora Aquino, the second two multi-role response procured the Philippine Japan, is welcomed by the Philippine Guard at the Port Area in Manila on Wednesday, June 1, 2022, completing its maiden voyage from Japan.

Constructed by Mitsubishi Shipbuilding Co. in Japan, the ship, named global supply chain disruptions. nal environment, [what’s happenThursday lauded the lion a year ago. ety organizations—supported take advantage of export opafter Tandang Sora, the Grand Woman of the Revolution during the Spanish colonial period, is part of the Maritime Safety Capability Improvement Project of the Coast Guard. ROY DOMINGO Following the recent global ing] outside the Philippines,” said Senate for deferring its deciOn the other hand, foreign debt as of @caiordinario

by President-elect Ferdinand portunities.”

B C U. O supply chain disruptions such as Lopez, partly in Filipino. sion to ratify the Regional end-April reached P3.83 trillion, growR. Marcos Jr.—to let the in“Our sector’s opposition to B C U. O @caiordinario India’s export ban on wheat and “Actually this is the opportuCompre he n s ive E conom ic ing by 0.4 percent or P16.2 billion from coming administration and RCEP is largely due to the misthe conf lict between Ukraine nity for local producers to step up Partnership (RCEP) to the next P3.81 trillion as of end-March. the 19th Congress review the handling of the issue by the Deand Russia, among others, the at sila ang magproduce at sila ang Congress.

“For the period, the increment to extrade agreement and respond partment of Agriculture. The outgoing trade chief zeroed in magsupply ng mga pangangailanThe Senate did not vote last ternal debt was due to the net availment meaningfully to the concerns DA stopped all consultations on on local producers as he emphagan to show na meron din tayong June 1 on the proposed resoluof external loans amounting to P28.56 of the agri-fisheries sector,” the RCEP in mid-2019. When talks Senate need Presi-to Drilondito moved to elect Majorityng sized UTGOING the Philippines’s supply at yun ang ipakita tion that would ratify RCEP, billion and the effect of Peso depreciation group said. were resumed in late 2021, M N. D C strengthened our political and dent Vicente Sotto III Leader Juan Miguel Zubiri as the be self-sufficient in terms of ating mga producers so loand FFF saw this as an indica- B J against the USD amounting to P31.50 The FFF said the incoming and changes in the agreement were UTGOING Senate PresiDrilon moved to electmore Majority institutions.

B J@joveemarie M N.should D C and strengthened ouritpolitical declared at 7:41 Sotto pm ofIII acting Senate President Pro Temfood security. cal sources beZubiri encouraged dent Vicente Leader Juanshould Miguel as the tion that the sponsors were not billion. This was tempered by adjustadministration consult governmental no longer possible,” said. and “Despite the institutions. many challenges @joveemarie governmental Wednesday as adjourned dieto fromSenate noonayPresident of June 30 declared at 7:41 pm of pore acting Prountil Tem“That’s why there issine need whether yun fruits,vegetables, able to “muster” the required 16 ments in third currencies amounting to “extensively” with stakeholdHE House of Representatives that “Despite happened during my tenure the many the third regular session of thedie July 25,from when the meat 19th Congress See “Farmers,” A2 challenges Wednesday as adjourned sine pore noon of June 30 until continue to make available these pork products, products, votes or two-thirds majority.

P43.86 billion,” the Treasury explained. ers on how to prepare farmers onHEWednesday ended the asthat your happened Speaker, we have risen and House of Representatives during my tenure 18th onwethe part ofofmore the convenes. the Congress third regular session the first July 25, when the 19th Congress inputs we need; encourage 18th Congress, highlighting proven ourselves to be One Conon Wednesday ended the as your Speaker, we have risen and Senate, capping what Minority Earlier inSeethe day,A2colleagues See “Austerity,” A2 18th Congress on the part of the fi rst convenes.

“Amid,” local sourcing” because, he noted, its 3-year achievements, including gress, ready to servetoour people,” 18th Congress, highlighting proven ourselves be One Con- Leader Franklin Drilon thatinZubiri had colleagues secured Senate, capping whatdescribed Minority signaled Earlier the day, laws to helpachievements, the country navigate histo colleagues. its 3-year including Velasco gress, told ready serve our people,” asLeader cabinet can handle the emerging scenario,” the In its latest Market Call report, First Metro “one of Franklin the most Drilon productive sesthe “votes” that of majority senators described signaled Zubiri of had secured emerge strongernavigate from “One Congress, ready to scrutilaws toand help the country Velasco told his colleagues. report Investment University of Asia First and the sions” of the chamber, an featSAUDI made who will sitSource: in 19th Senate, a cabinet handle the In itsCorp. latestand Market Call report, Metro as “one of the most productive sesthe “votes” ofthe majority of senators n stated.

UScan52.4610 n emerging japan scenario,” 0.4032 then UKthrough 65.5185 n HK 6.6849 n CHINA 7.8466 n singapore 38.

1 701 n australia 37.6303 n EU 55.8972 arabia 13.9877 BSP (June 2, 2022) the Covid-19 pandemic. the national budget, pass through and emerge stronger from nize “One Congress, ready to scrutiOne of the major risks that post the most Pacifi c (FMIC-UA&P) Capital Markets Research remarkable by chamber, the fact that much confisit rmed

by Drilon. report stated.

Investment Corp. and University of Asia and the sions” of the a feat made matter who will in the 19th Senate, a In Covid-19 his valedictory laws, conduct hearings, the pandemic. speech, nizetothe national budget,totopropass ofremarkable uncertainty is the Russia-Ukraine saidPacifi thecgrowth momentum which gave rise to One to of the the economy major risks that post the most (FMIC-UA&P) Capital Markets Research it was in a pandemic.

Zubiri confi appears to be the by the fact that much matter rmednow

by Drilon.

Speaker Velascospeech, said vide oversight on the implementaIn Lord his Allan valedictory waruncertainty which willtomark its first 100 days.

The war thesaid 8.3-percent growth in the fiwhich rst quarter laws, to conduct hearings, to prothe economy is the Russia-Ukraine the growth momentum gave will rise to peers heaped praise on only Zubiri likely candidate to stand ofHis it was in a pandemic. appears now to befor the the 18th Congress was Velasco a key and of oversight laws, and on to generally make Speaker Lord Allan said tion began February 24 this anddays. will The reachwar spillthe over to the second quarter. vide the implementawar in which will mark its fiyear rst 100 8.3-percent growth in the first quarter will SottoHis for his leadership, and laudelection as the next Senate Presi-for peers heaped praise on only likely candidate to stand steady partner of President easier theand next 100began days on 3. FMIC-UA&P Capital However, of the economy in the 18th Congress was aDuterte key and it tion offor laws, to Congress generally and make edSotto in June February 24 this year and Markets will reach spill over tothe theperformance second quarter. and thanked as well theand seven after as Sen. Cynthia Villar, earfor his leadership, laud- dent, election the next Senate Presiinsteady passing lawsof that promoted Research saidoncommodity prices, particularly oil the third and fourth quarters will of bethe determined to continue the legpartner President Duterte itsitleadership, easier for the next Congress and other 100 days June 3. FMIC-UA&P Capital Markets However, the performance economy in “graduating” members of seven the lier touted a strong contender, ed and thanked as well the dent, afterasSen. Cynthia Villar, earprices, could remain elevated until the particularly war in East- oil by the the third policies be implemented the new economic development, work for the sake of our in passing laws thatstrengthpromoted islative Research said commodity prices, andtofourth quarters will by be determined its leadership, to continue thekaleg- chamber, including two other of pilwithdrawing other “graduating” members the announced lier toutedshe as awas strong contender, ernprices, Europecould is resolved.

This uncertainty lead economic will greet ened the administration justice babayans,” he added. remain elevated until the will war in Eastby the team. policiesMuch to beuncertainty implemented by thethenew economic development,ofstrengthislative work for the sake of our ka- lars—Drilon and Senate President from the race. chamber, including two other pilannounced she was withdrawing to an ation of above 5 percent in economic managers as the pandemicwill continues and thethe ruleadministration of law, enhanced the ernaverage Europe infl is resolved.

This uncertainty willthelead economic team. Much uncertainty greet the He said the ened of justice babayans,” hepandemic added. forced the Pro Tempore Ralph “Walathe nang [There is no] SP race,” lars—Drilon and Recto.

Senate President from race. country year. inflation of above 5 percent in the andeconomic commodity prices remain protection of labor andenhanced social welto anthis average managers as theelevated. pandemic continues to be dynamic, and the rule of law, the House Heleadership said the pandemic forced the As his “last offi cial act,” Drilon she told reporters, Pro Tempore Ralph Recto.

“Wala nang [Thadding, ere is no]“ISPwant race,” In April, “Thecommodity robustness in the economic country thisthe year.Philippine Statistics Authority and prices remain elevated.recovery, fare, improved of and and proactive. protection of the laborquality and social wel- innovative House leadership to be dynamic, introduced a resolution meant to a simple life” and explained she As his “last offi cial act,” Drilon she told reporters, adding, “I want (PSA) reported that infl ation nationwide increased founded“The heavily on employment gains, should In April, the Philippine Statistics Authority robustness in the economic recovery, increased access to “Despite the lingering threat fare, improved theeducation quality ofand and innovative and proactive. prevent a month-long leadership just wanted to “take care of my adintroduced a resolution meant to a simple life” and explained she to 4.9 percent in April 2022.

The average infl ation spillfounded over intoheavily Q2 [theonsecond quarter].

And while (PSA) reported that inflation nationwide increased employment gains, should information, enhanced our health increased access to education and “Despite the lingering threat gap in the aSenate, as the terms of vocacy, agriculture,” heradprevent month-long leadership just wanted to “takesignaling care of my for tothe4.9first four months of theThe yearaverage stood at a tighter fiscal andsecond inflation pose And serious percent in April 2022. infl3.7 ation spill over intospace Q2 [the quarter]. while C  A and emergencyenhanced response our system, information, health Sotto and endasatthenoon ofof desire to keep her chairmanship gap in theRecto Senate, terms vocacy, agriculture,” signaling of her headwinds anation economic for the first four months of the year stood at 3.7 a tighterinfiH2 scal[second space half], and infl poseteam serious C  A and emergency response system, S “H,” A Butch Fernandez June 30. and Recto end at noon of that committee.

Sotto desire to keep her chairmanship of of high-quality the new President’s headwinds intechnocrats H2 [secondinhalf], an economic team S “H,” A June 30. that committee. Butch Fernandez of high-quality technocrats in the new President’s

T T

FARMERS HAIL SENATE’S RCEP NON-VOTE

Amid supply chain disruptions, local producers told: Step up

T

T

HE performance of the Philippine HE performance of thehalf Philippine economy in the second the second half ofeconomy the year in will rest squarely of the yearofwill squarely on the shoulders therest incoming on the shoulderseconomic of the incoming administration’s team, administration’s economic team, according to a local think tank. according to a local think tank.

PESO exchange rates

Sotto closes ‘productive’ Sotto closes ‘productive’ PANDEMIC CHALLENGE PANDEMIC CHALLENGE session; Zubiri next SP? MARKS 18TH CONGRESS session; Zubiri next SP? MARKS 18TH CONGRESS

TT

O O

PESO EXCHANGE RATES ■ US 52.4120 ■ JAPAN 0.4073 ■ UK 66.0496 ■ HK 6.6799 ■ SINGAPORE 38.2625 ■ AUSTRALIA 37.6004 ■ SAUDI ARABIA 13.9750 ■ EU 56.2643 ■ CHINA 7.8555 Source: BSP (June 1, 2022) PESO EXCHANGE RATES ■ US 52.4120 ■ JAPAN 0.4073 ■ UK 66.0496 ■ HK 6.6799 ■ SINGAPORE 38.2625 ■ AUSTRALIA 37.6004 ■ SAUDI ARABIA 13.9750 ■ EU 56.2643 ■ CHINA 7.8555 Source: BSP (June 1, 2022)

News

BusinessMirror

A2 Friday, June 3, 2022

www.businessmirror.com.ph

Lopez bets on RCEP ratification, repeats warning vs not joining

By Andrea E. San Juan

“It is unfortunate that we didn’t get the Senate Ratification this 18th Congress, but we remain optimistic that it will be ratified early in the next Congress,” Trade Secretary Ramon Lopez told reporters in a Viber message, a day after the 18th Senate adjourned sine die without putting the treaty to a vote.

The outgoing trade chief said he firmly believes, however, that the Regional Comprehensive Economic Partnership (RCEP) will be on top of the priority list of the incoming economic team. His reassurance was followed by an overview of the consequences if the Philippines defers joining the RCEP.

“RCEP has the support of the incoming economic team and we understand that it will be in their priority,” added Lopez.

“As I said before, any delay in ratification means that we run the risk of losing some export markets and the good opportunities in new investments as they shift to participating countries who are already part of the RCEP system. There may be lost opportunities in investments, and jobs for our people, investments such as in agribusiness, manufacturing for exports, and services.

Many investors we talk to always ask about our RCEP ratification,” Lopez emphasized.

Still, the outgoing trade chief noted, “we will do our best to keep their confidence and interest high on the Philippines as an investment destination.”

Farmers...

every year,” it added.

In a letter to senators last June 1, FFF urged them to leave the ratification of the RCEP to the incoming administration to provide Ferdinand Marcos Jr. the “opportunity” to properly study the treaty and “devise strategies” accordingly.

“Concurring with the agreement now, even as questions on trade rem-

edies and the preparedness of our agriculture sector have yet to be fully answered, will unnecessarily tie the hands of the incoming administration and pre-empt whatever measures it might have to take to prepare the country for accession,” it said.

Marcos had stated that he wanted to hold off the ratification of the RCEP until he completely studies its effects

T

HE Department of Trade and Industry (DTI) remains hopeful that the incoming administration will prioritize the ratification of the world’s largest trade pact even after failing to get Senate approval at the 18th Congress.

Continued from A1

“Even then, the DA never acknowledged RCEP’s threats to the sector, despite data showing that our farmers were unprepared and our trade deficits were increasing by billions of dollars

Several local and even foreign business groups have rallied behind the outgoing trade chief’s push for the ratification of the regional trade deal. One of these is the Management Association of the Philippines (MAP), which is headed by his successor, the incoming trade chief Alfredo E. Pascual.

In a televised interview last week, Pascual said he agrees with Lopez that RCEP ratification must not be stopped, as the trade deal is safe for agriculture.

On Monday, Lopez, along with other DTI officials , appeared before the Senate to present the advantages of joining the regional trade deal in hopes of getting the upper chamber’s nod to the RCEP

membership. However, the 18th Congress adjourned without the regional trade deal being ratified.

RCEP is a free trade agreement among Asean countries and their trading partners Australia, China, Japan, New Zealand and South Korea. This represents 30 percent of the global gross domestic product (GDP) or $26.2 trillion.

It entered into force on January 1, 2022.

The Trade department has been lobbying for the ratification of RCEP as it is seen to “ help restore business confidence and encourage more economic activities, particularly for MSMEs, investors, service providers, and professionals.”

on the country, particularly on the farmers.

Marcos said he wants to ensure the trade agreement will not be detrimental to local industries particularly, in agriculture.

“I do not know if our agricultural sector is sufficiently robust to take on the competition that the opening of the markets will cause RCEP. So let us have a look at it again,” Marcos said in a televised interview last week. (Related story: https:// businessmirror.com.ph/2022/05/26/ marcos-wants-to-hold-of f-onrcepbut-dti-warns-vs-it/) L a st wee k , t he E xec ut ive made a last push for the ratification of the RCEP before the Senate under the 18th Congress

adjourned.

Government officials said the benefits to the farm sector that the country will gain from ratifying the RCEP agreement will far outweigh the liberalization of 33 agricultural tariff lines.

At the Senate Committee on Foreign Relations hearing, officials from the Department of Trade and Industry (DTI) and the National Economic and Development Authority (Neda) insisted that the agriculture sector will not be a loser under the RCEP, adding that the concerns by certain quarters regarding the trade agreement have been addressed.

(Related story: https://businessmirror. com.ph/2022/05/30/benefits-to-farmsector-farmore-than-risks-from-rcep/)

Amid...

a truck ban, single lane, we have the number coding scheme—this is something that adds more burden aside from the traffic.”

To curb the country’s supply chain problems, Curay said the Philippines must eye for a “working railway.”

“However, when we develop the railway, when we push for the railway, it has to be integrated with the supply chain with the ports, with the airports, with the seaports, and you know that cuts across,” said Curay.

On seaports, he said: “one of our recommendations again is seaports capacity adjustment, so we’ve been asking if we can spread out the distribution of the containers, not only in Manila; we decongest Manila and then put it to our North and South ports that can handle this container, transport delivery.”

The more integrated the supply chain is, the more efficient it becomes, he said.

For its part, the Philippine Chamber of Commerce and Industry, last month, also appealed to the outgoing and incoming administrations to act with urgency on the concerns besetting our transportation and logistics industry to curb further economic problems.

PCCI President George T. Barcelon emphasized that transportation and logistics are essential to sustaining economic gains and building on the reform measures meant to make the country attractive to investments and conducive to jobs-creating activities.

Continued from A1

para in terms of supply ay meron naman tayong supply nagkakahigpitan lang kasi yung usual sourcing nila lalo na yung foreign sources dun nagkakaron ng problema,” added Lopez.

Lopez added that apart from food security issues, the country is also bearing the brunt of high logistics cost, a challenge that the Philippines has been facing, he noted, even before Russia invaded Ukraine.

Other factors The global supply chain disruption and the external environment are nor the only reasons why prices are consistently increasing in the country, say some experts, however.

Insight Supply Chain Solutions CEO Pierre Carlo Curay said in April that the Philippines has the highest logistics cost among Association of Southeast Asian Nations (Asean) members.

Curay said, “so our logistics costs, percentage of sales is 25 percent, meaning it takes almost one-third of the cost of the product to get to you, that’s very high.”

Curay cited traffic and transportation problems as some of the culprits behind the high cost.

Earlier, Curay said “Most of the time transport is one of the industries that’s being penalized by different policies that slows down traffic and increase cost. We have

Austerity...

Continued from A1

Year-on-year, foreign debt as of endApril climbed by 20.4 percent from P3.18 trillion.

Meanwhile, total guaranteed outstanding guaranteed debt also rose by 0.6 percent month-on-month to P413.43 billion as of end-April on the back of the net availment of both domestic and external guarantees. However, this was a 4.9-percent drop from P434.74 billion a year ago.

Tax reform

Rizal Commercial Banking Corporation Chief Economist Michael Ricafort said the incoming Marcos administration would have to implement tax reform measures as well as exercise fiscal discipline to address the rise in debt stock.

“In view of the streak of record highs in the government’s outstanding debt in recent months, the intensified tax collections from existing tax laws may not be enough and would inevitably require new tax/fiscal reform measures in able to curb additional borrowings/debt by the government, especially for the incoming administration...,” Ricafort said.

While the further reopening of the economy may help the government raise revenues and reduce its debt, he warned that this may be offset by the continued increase in infrastructure spending that would lead to additional borrowings.

Austerity

Faced with limited resources for next year, the next administration of the Department of Budget and Management (DBM) must implement austerity measures to maintain its smooth operation.

DBM Officer-in-Charge Tina L. Canda made the statement when asked what will be her recommendation to her successor, Bangko Sentral ng Pilipinas (BSP) Assistant Governor Amenah F. Pangandaman.

“I can only speak about my department, the Department of Budget and Management and the problems we are facing mainly because of tight resources for 2023,” Canda said in a televised interview last Thursday.

“So if you have tight resources, then you will have to make adjustments,” she added.

She said among her recommended cost-cutting measures would be the suspension of the construction of new buildings, procurement of new vehicles, and the conduct of training.

DBM issued the statement after confirming that the country’s debt has now ballooned to P12.7 trillion.

It said most of the amount was spent to address the impact of the novel coronavirus disease (Covid-19).

The Department of Finance (DOF) earlier said the next administration must generate P249 billion additional revenues so it could pay existing government debts without securing more loans.

Despite this challenge, Canda is confident the next administration can settle the existing debt by imposing new taxes or further “reopening” the economy to allow more businesses to operate and more people to return to work.

“So we should not be afraid [of our debt]. Our economic managers assure [us] the loans the took were reasonable, which we can manage in the future,” Canda said.

End-2022 outlook

By the end of this year, the government expects the country’s outstanding debt to soar to P13.42 trillion.

The national government’s debt-toGDP ratio as of the first quarter of the year has also risen to a 17-year-high at 63.5 percent, above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. It is also the highest since the country’s debt-to-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration.

Finance Secretary Carlos Dominguez III has said that the current debt level remains “sustainable” as the country needed to ramp up its borrowings for Covid-19related expenditures amid weaker revenue collections during the pandemic.

Last week, DOF proposed that the next administration implement a set of fiscal measures seen to generate a total average of nearly P350 billion per year from 2023 to 2027 to help the country outgrow its debt at a faster rate.

The three-package proposed fiscal consolidation and resource mobilization plan unveiled last week includes the imposition of several taxes, 3-year deferment of the second tranche of reduction in personal income tax rates, and the expansion of value-added tax (VAT) base and removal of VAT exemptions—except for education, agricultural products, health, financial sector, and raw food, among others.

The Nation BusinessMirror

www.businessmirror.com.ph

Natl Museum venue for oath-taking of Marcos Jr.

T

HE historic National Museum of the Philippines building will be the venue for the oath- taking of President-elect Ferdinand “Bongbong” Marcos Jr. as the country’s 17th President on June 30, 2022.

Formerly known as the Old Legislative Building, it has served as the venue for the inauguration of former Presidents Manuel L. Quezon (1935), Jose P. Laurel (1943) and Manuel Roxas (1946).

Former Manila Representative and now Presidential Management Staff (PMS) Secretary-designate Zenaida “Naida” Angping said that the inaugural committee members had recently conducted an ocular inspection of the area and found it to be a suitable venue.

“The National Museum of the Philippines building and its surrounding areas match our requirements for President-elect Marcos’s inauguration. Preparations are already in full swing to ensure that it will be ready by then,” Angping said.

Designed by the Bureau of Public Works (predecessor of the Department of Public Works and Highways) in 1918 as the new home of the National Library of the Philippines, construction work was completed in 1926.

In 1935, it served as the venue for the proclamation of the Philippine Commonwealth and was subsequently known as the National Assembly Building.

It was destroyed during World War II and underwent a massive reconstruction from 1949 to 1950.

It housed Congress until it was shut down during martial law. After the Edsa revolt in 1986, the House of Representatives moved to the Batasan building in Quezon City, while the revived Philippine Senate stayed at the original legislative building in Manila until the 1990s when the Senate moved to its current venue in Pasay City, on a building owned by Government Service Insurance System.

Angping said that while the committee considered the Quirino Grandstand, a potential venue for the inauguration, the committee’s ocular inspection team observed that there were still several Covid-19 field hospitals in the area.

“The safety and welfare of our people are paramount. As such, we chose to avoid disrupting the medical care being given to the Covid-19 patients housed there. That’s why we opted for the National Museum as the venue,” Angping added.

Marcos, who was proclaimed President-elect by Congress on May 25th after winning the 2022 national elections via landslide, has vowed to “hit the ground running” as he started to appoint key Cabinet members.

Last Sunday, news reports said that the President-elect’s camp was considering three venues for his June 30th inauguration: Quirino Grandstand, Fort Santiago, and the National Museum.

DOJ chief okays relief of 2 NBI officials over ‘anomalous’ cybercrime operation

By Joel R. San Juan @jrsanjuan1573

J

USTICE Secretary Menardo Guevarra said he had approved the relief of National Bureau of Investigation- Cybercrime Investigation and Assessment Center (NBICIAC) Assistant Regional Director Vic Lorenzo and another official over alleged “anomalous operation.”

Lorenzo’s relief would remain in effect pending the result of the investigation being conducted by the NBI. NBI Officer in Charge Eric Distor earlier recommended the relief of Lorenzo and another officer who

has yet to be identified.

Guevarra said he has not issued a formal order on Lorenzo’s relief but he had already informed Distor of the approval of the latter’s recommendation for the relief of the NBI personnel concerned.

The NBI Internal Affairs Division (IAD) has also started its investigation involving Lorenzo’s alleged wrongdoings.

“This [to relieve officers], I believe, is standard operating procedure whenever any NBI official or agent is under investigation by the Internal Affairs Division in order to preserve the evidence and preclude any undue influence during the in-

vestigation,” he said.

“As Secretary of Justice, my interest is to maintain professionalism, discipline, and ethical conduct among the personnel and operatives of the premier investigating agency in our country,” he added.

Guevarra said Lorenzo’s relief was necessary “to make sure that similar operations in the future will be conducted in a most professional way.”

In a news statement, Distor also disclosed that he has ordered the review of the existing cybercrime and other operational guidelines and procedures to have a more organized standards and measures as regards the operations being

By Butch Fernandez

By Jonathan L. Mayuga

D

@jonlmayuga

T

HE Department of Environment and Natural Resources (DENR) said it would conduct “search and rescue” (SAR) operations for trees injured by erring politicians during the recently concluded national and local elections.

DENR Acting Secretary Jim O. Sampulna said “the move is especially important as injured trees if left unattended, are susceptible to infection and may not be able to grow properly with structural defects that make them prone to fail and fall over during typhoons.”

DENR Undersecretary for Field Operations-Luzon, Visayas and Environment Juan Miguel Cuna last May 17, 2022, whose office oversees DENR’s implementation of its “Oplan Baklas” (OB) in all its 16 regional offices, had already started carrying out Sampulna’s directive.

In order to complete their OB accomplishment reports, Cuna likewise told DENR regional offices through their respective Regional Executive Directors to “conduct an inventory of trees damaged due to the election campaign and conduct possible treatments appropriate to the conditions” of the injured trees.

As of April, some 114,664 pieces of campaign materials and other

COPS ON HIGH ALERT

Quezon City policemen in combat uniform conduct a random checkpoint at East Avenue in Quezon City on Thursday, June 2, 2022. The metropolis remains under full alert following a bus bombing incident in Koronadal, South Cotabato, that left two wounded and another explosion near a bus terminal in Tacurong, Sultan Kudarat, last week. NONOY LACZA

paraphernalia had been taken down in DENR’s OB which has been implemented nationwide under a DENR, Commission of Elections (Comelec), Department of the Interior and Local Government (DILG) Joint Memorandum to tear down or confiscate poll campaign materials posted outside of common poster areas designated by the Comelec.

Sampulna cited trees in urban areas need to be prioritized, noting that “trees in our urban areas have been decreasing through the years despite the countless benefits they give to improve the quality of life in cities, especially now that climate change is upon us.”

Of particular concern to the environment, the chief said, is how many of the trees had been cleared of the nailed campaign posters and the likelihood that there are nails still left in trees that can cause long-

term damage to trees, especially the young ones.

“Hammering a nail into a tree inevitably leaves a wound that exposes its insides to bacteria and fungi and causes decay of the wood, leading to a structurally weakened tree and can even shorten its life,” Sampulna explained.

Juvenile trees are less able to recover from these injuries and are most vulnerable to these long-term damages from injuries compared to mature trees over 10 years old.

“Our field officers may have to revisit the trees that have been cleared of these materials to remove unpulled nails and apply a wound dressing that contains fungicide and insecticide, especially in nail holes that show signs of surface rust,” according to Raul Briz, chief of Forest Protection office of the Forest Management Bureau.

PHL behind Asean peers in meeting SDGs, says report continued from a14 “Besides their massive humanitarian costs, military conflicts—including the war in Ukraine—have major international spillovers on food security and energy prices, which are amplified by the climate and biodiversity crises,” SDSN said.

“They also crowd out space for long‐term thinking and investments. Peace, diplomacy,

either in agreement or disagreement. People of this country should not be denied a judgment or at the very least, a debate on whether there was malfeasance, misfeasance, or nonfeasance,” remarked Gordon.

“Correspondingly, we have a responsibility to let the public know how we voted, to protect the Senate and the integrity of its proceedings.

We have to let our peers know how we voted. We are all in the pursuit of truth, fighting all this time for a government of the people, for the people, by the people,” he continued.

conducted by various operational units of the NBI nationwide.

In particular, Distor said the NBI would re-examine the agency’s guidelines on operations including service of search warrants, intelligence and investigative operations.

In light of the controversy, Distor said all operations authority must now come from the Office of the Director and must be under the control and supervision of the said office, with assistance from the respective deputy directors.

He also directed all regional directors, agents-in-charge and central office chiefs to submit to the Office of the Director their

performance/accomplishments reports for review.

The NBI, however, did not divulge the details of the “anomalous operation” allegedly committed by Lorenzo. Guevarra said that he also has no personal knowledge about the alleged offense and that his information is only based on the initial report submitted by Distor last Wednesday.

He explained that in general, the investigation would be about “the service of a warrant to search, seize, and examine computer data in a certain establishment in Manila last May 31 where some alleged irregularities were observed.”

De Lima seeks case review as witness recants her alleged links to drug trade

DENR to launch SAR ops for trees ‘victimized’ by erring politicians

and international cooperation are fundamental conditions for the world to progress on the SDGs towards 2030 and beyond,” it added.

The 2022 SDG Index is topped

by Finland, followed by three Nordic countries—Denmark, Sweden and Norway—and all top 10 countries are European countries. Yet even these countries face major challenges in achieving

several SDGs. Overall, East and South Asia is the region that progressed most on the SDGs since their adoption in 2015. Bangladesh and Cambodia are the two countries that progressed most on the SDGs since 2015.

In contrast, Venezuela declined the most on the SDG Index since their adoption in 2015.

2 Pharmally execs detained over Senate probe set free continued from a14 At the same time, Gordon asserted the importance of the Senate as independent body, citing the public’s right to know the specific stance of its solons in topics of national importance such as corruption.

In his privilege speech, Gordon stressed the importance of putting into public record the committee report as it remained two signatures short of the minimum count of 11.

“We cannot shirk from our responsibilities by not signing, our duty to act on a committee report,

Editor: Vittorio V. Vitug • Friday, June 3, 2022 A3

The months-long investigation had captivated the nation when it was revealed that the government entered an anomalous procurement deal with a startup company like Pharmally, which desite its capitalization of only P650,000 bagged contracts estimated to be worth a total P10 billion-plus.

Pharmally, which is directly linked to former presidential economic adviser Michael Yang, was revealed to have questionable legal, financial, and technical capabilities.

Despite its shortcomings, it was

able to enter a multibillion-peso deal with the Procurement Service of the Department of Budget and Management (PS-DBM) in record time.

“The authority, powers, and prerogatives of the Senate are constitutionally granted. The Blue Ribbon Committee is invested with power and duty to investigate cases of malfeasance, misfeasance, or non- feasance committed by public officers.

This has been the very basis of our authori)ty for calling the motu proprio investigations on Pharmally,” explained Gordon. Butch Fernandez

@butchfBM

ETAINED Senator Leila de Lima, citing the recent testimony of a witness clearing her from drug charges, on Thursday sought Department of Justice (DOJ) review and subsequent dismissal of her case.

This, as a fourth witness has recanted his testimony against De Lima, prompting her to urge the DOJ anew to dismiss her remaining drug related cases and set her free.

In a news statement, the senator’s lawyer, Attorney Filibon Tacardon, said De Lima’s camp hailed a recent counter-affidavit issued by witness Marcelo Adorco recanting a previous statement linking her to the illegal drug trade.

Atty. Tacardon, one of De Lima’s legal counsels, noted that Adorco’s recantation only “highlighted the pattern of witnesses admitting to being threatened and coerced to tell lies and pin people down, including the Senator.”

“Sa tingin namin, sumasalamin ito sa matagal na naming sinasabi na ang mga kaso laban kay Senator de Lima ay pawang gawa-gawa lamang ng mga taong tinakot at ginipit para gumawa ng kasinungalingan at palabasin na si Senator de Lima ay sangkot sa bentahan ng ilegal na droga,” Tacardon said, noting that the truth is coming out.

“Lumalabas na ang totoo kaya patuloy ang panawagan namin sa DOJ na muling suriin ang mga kasong isinampa nila laban kay Senator de Lima at tuluyan nang ibasura ito at palayain ang mahal nating Senadora.”

De Lima’s counsel recalled that in the witness’ counter-affidavits filed at the Department of Justice (DOJ) last May 24, 2022 and August 28, 2020, Adorco recanted his allegations in his 2016 and 2017 affidavits admitting his involvement in the illegal drug trade while dragging the names of several personalities, including suspected drug lord Kerwin Espinosa.

“Ang totoo niyan, napilitan lamang akong pirmahan ang nasabing affidavit dahil sa pangamba sa aking buhay at kaligtasan,” the witness admitted, recalling that his initial affidavits were made by a police officer from the Albuera Police Station in Leyte allegedly upon the orders of the former Albuera Police Chief Jovie Espenido.

In a news statement, De Lima’s camp recalled that Espinosa falsely testified in Senate hearings that De Lima was involved in illegal drug trade as then Justice Secretary during the Aquino administration—an accusation de Lima has vehemently denied.

In a counter-affidavit filed at the

DOJ on April 28 this year, Espinosa recanted his previous allegations and said he had no dealings with de Lima.

Moreover, de Lima’s camp also recalled that in Adorco’s 2020 counter-affidavit, he denied personally knowing de Lima, and that he had no personal knowledge about the alleged meeting of de Lima and Espinosa in Baguio City. “Hindi ko po kilala sina Lovely Impal, Peter Co, Peter Lim at Secretary Leila de Lima. Hindi ko po sila nakita at nakausap kahit minsan. ‘Yong picture po ni Kerwin Espinosa at ni Hazel Magno kasama ni Secretary Leila de Lima ay nakuha po ‘yon galing sa Facebook at binigay lamang sa akin ng isang pulis noong ginawa ang aking affidavit. Wala po akong personal na kaalaman sa sinasabing pagkikita raw ni Kerwin at ni Secretary de Lima sa Baguio,” Adorco added.

In turn, De Lima admitted she “remains hopeful that more people would come out and speak the truth to help prove her innocence from all the trumped-up drug charges filed against her.”

She conveyed positive outlook saying, “As Duterte, the mastermind behind my unjust detention, is about to step down from power, we have seen the pattern of personalities finally speaking the truth and finding it in their conscience to retract their allegations implicating me in the illegal drug trade.”

De lima added: “Gaya ng lagi kong sinasabi: Naipakulong man nila ako, hinding-hindi nila maikukulong ang katotohanan na ako ay inosente. Lagi’t laging lalabas at mananaig ang katotohanan at hustisya.”

The senator noted that apart from Adorco and Espinosa’s recantation, former Bureau of Corrections (BuCor) Officer in Charge Rafael Ragos and De Lima’s former aide Ronnie Dayan also recanted their allegations against her, claiming that they were allegedly coerced and threatened by state agents and key government officials of the Duterte administration.

The former Justice Secretary also recalled that during the last hearing in one of the two trumped-up drug cases against de Lima before the Muntinlupa Regional Trial Court (RTC), Branch 256, a prosecution witness and conv icted murderer Joel Capones, under cross examination, also denied personally knowing and transacting with de Lima and Dayan.

De Lima held out hopes in consistently and firmly asserting her innocence in the cases filed against her, citing lack of evidence, resulting in the dismissal of one of the three trumped-up drug charges against that were already dismissed, calling it “a moral victory.”

A4 Friday, June 3, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Salceda vows to push more PPP projects in Congress

Incoming DBM chief: ‘23 budget aligned with BBM’s economic recovery program A

I

By Bernadette D. Nicolas

@BNicolasBM

NCOMING Budget Secretary Amenah Pangandaman said she would heed President-elect Ferdinand “Bongbong” R. Marcos Jr.’s order to ensure that the proposed 2023 national budget would be focused on his priority programs and projects, including the country’s economic recovery.

In a bid to reconstruct the economy hit by the Covid-19 pandemic, the President-elect intends to focus on agricultural and food security, strengthening

tourism and jobs creation, sustainable development, enhancing infrastructure projects, including digital infrastructure, utilizing renewable energy

sources, climate change adaptation, improving health care and education, among others.

“I aspire to draft and implement a budget that will promote a broadbased and inclusive economic recovery and growth,” said Pangandaman, who currently sits as Bangko Sentral ng Pilipinas assistant governor.

“President-elect Marcos’ priority programs are in line with that.”

The incoming budget chief also said the entire economic team under the Marcos Jr. administration is set to meet soon as she vowed to work with them to fulfill the Presidentelect’s campaign promises.

The Cabinet-level Development Budget Coordination Committee (DBCC) earlier approved the cap for the proposed national budget next year pegged at P5.268 trillion, which

is 4.9 percent higher than this year’s P5.024 trillion national budget.

On whether the incoming Marcos Jr. administration can still tweak the proposed national budget cap, DBCC Chair and Department of Budget and Management Officer in Charge Secretary Tina Rose Marie Canda earlier said it would be better to stick to that level for prudent fiscal management. However, she said what can be tweaked is the composition of the budget.

The proposed budget is contained in the National Expenditure Program accompanied by the President’s Budget Message, which encapsulates the budget’s policy thrust and priorities.

Under the constitution, this should be submitted to Congress within 30 days from the opening of the regular session.

LEADER of the House of Representatives on Thursday said public-private partnerships (PPPs) will play a major role again in the next administration as the private sector, especially the large conglomerates, are awash with cash amounting to P1.285 trillion for PPPs. With this, House Committee on Ways and Means Chairman Joey Sarte Salceda, in a news statement, said that he will push for a stronger, more attractive framework for PPPs in the 19th Congress, stressing that such agreements “will be crucial in building modern and efficient public services during a time of tough fiscal conditions.”

“We have ongoing fiscal constraints, but we also have ongoing public needs. Infrastructure and social services will always be good, and necessary investments. So, sourcing from outside the public sector will be very crucial,” Salceda said, in comments after a meeting with incoming Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan.

“We talked about how to move forward with PPPs, especially given the tight room for funding major projects. Secretary Manny [Bonoan] appears to be quite bullish about Philippine infrastructure development over the next six years. I think PPPs stand a very strong chance of playing a major role again in this new administration. Secretary Manny has been with both the public and private sectors for a long time. And PBBM [incoming President Bongbong Marcos] has, in many interviews, made very cogent observations on the need for more flexible PPPs,” Salceda added.

“The private sector, especially the large conglomerates, is awash with cash for PPPs. San Miguel has P301.7 billion, Aboitiz Equity Ventures has P107.5 billion. Ayala Corporation has P99.6 billion. SMIC has P93.9 billion.

JG Summit has P292.6 billion. LT Group has P390.1 billion,” he said.

“That’s a total of P1.285 trillion

in cash for just these conglomerates alone. For perspective, Build, Build, Build received just a P1.180 trillion budget for 2022. So, the private sector can fund infrastructure development many times over, if we open participation to even more companies,” Salceda added.

Salceda, who is the principal author of the proposed PPP Reform Law in Congress, said that he hopes PPP reforms also have a stronger chance of passing this incoming 19th Congress.

In the 18th Congress, Salceda filed House Bill 77 to further enhance and reinforce the provisions of RA 6975 or the Build-Operate-Transfer law, as amended, to engender transparency in transactions, efficiency in the performance of the project obligation and putting additional thrust and impetus to the PPP program through a more robust cooperation between the public and private sectors.

Moreover, Salceda said that he is in talks with the incoming DPWH secretary on how to modernize the infrastructure and transport sector.

“I discussed with Secretary Bonoan today how I hope to help his department with sourcing the necessary fiscal space for infrastructure. It is absolutely crucial that we maintain infrastructure as a spending priority.”

“In fact, BBM’s first budget, I think, has to revolve around three key priorities or principles. First, we must maintain productive spending and keep it higher than the deficit as a share of GDP. Second, we must ensure that we contain personnel spending growth, which has ballooned to around a third of the budget by now. Third, our public spending must have higher economic multiplier effects, and should be useful for longer periods,” Salceda said.

“But, we really need to expand fiscal space, either by collecting existing taxes better, or by imposing new taxes. Because PPPs do entail the need for some fiscal space in the future.

Basically, a PPP is advancing public welfare but deferring public costs. But the costs will come,” Salceda added.

Jovee Marie N. Dela Cruz

DA urged to restore SPSIC validity to 90 days amid logistics concerns

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippine Association of Meat Processors Inc. (Pampi) on Thursday urged Agriculture Secretary William D. Dar to restore the 90-day validity of sanitary and phytosanitary import clearances for imported meat products as the industry reels from disarrayed global logistics situation.

In a news statement, Pampi said the global logistical situation remains in “total disarray” due to persisting supply chain problems, particularly those borne out of the ongoing war between Russia and Ukraine.

The group noted that it was “unfortunate” that Dar reverted the validity of SPSIC for imported meat products to 60 days “allegedly due to easing of Covid-19 situation and supply chain issues.”

“This is not exactly accurate. Even with declining Covid cases, supply chain and logistics problems persist and get worse everyday,” Pampi said.

“The 90-day window was granted on January 25, 2022, one month before the Ukraine war broke out. With the continuing war showing no signs of abating, our supply chain and international shipping schedules are in total disarray,” it added.

Pampi argued that the global commodity market has become a “seller’s market” with buyers or importers such as their members having to “fall in line to get supply.” This current situation, the group noted, has resulted in over a 90-day time frame from booking to arrival in the country of imported raw materials.

“From booking orders to shipping them out, the 90-day window is no longer adequate. Most often we have to apply for an extension which means additional cost for import

permits,” the group said.

“We urgently appeal to Secretary Dar to at least revert to 90 days in the soonest possible time, to ease our already difficult situation,” it added.

Last week, meat importers and traders made the same appeal to the DA, arguing that the global shipping situation is not yet better and has even worsened today. (Related story: https://businessmirror. com.ph/2022/05/26/da-urged-torecall-order-on-60-day-validityof-spsic-on-meat-imports/) In a letter to Dar, the Meat Importers and Traders Association (Mita) called the revocation of the 90-day validity of SPSIC for imported meat products as “premature” and “ill-advised.”

Furthermore, the group pointed out that reverting the SPSIC validity to 60 days may “compromise the government’s efforts to control inflation and food security” since it provides insufficient elbow room for the arrival of shipments amid persisting logistical problems.

Mita explained that despite the Covid-19 situation improving in certain countries globally, various supply chain and logistics challenges continue to persist and are “not expected to be resolved anytime soon.”

The group revealed that various shipping lines have stopped reefer services to the Philippines, while others “have significantly cut back their services,” leaving importers scrambling for lines that still service to the Philippines.

Mita also disclosed that a lot of ports of origins remain congested, which contributes to additional sailing time. For example, the group noted, vessels at the port of Long Beach in California are taking two weeks to be unloaded, which is already equivalent to one whole trip to Asia from the US.

News BusinessMirror

www.businessmirror.com.ph

LTFRB probes JoyRide, then adds other TNVS

By Lorenz S. Marasigan @lorenzmarasigan

T

HE Land Transportation Franchising and Regulatory Board (LTFRB) has received an anonymous complaint against JoyRide, a ride-hailing app provider, claiming that it is overcharging passengers for as much as P1,000 per booking.

In a now-deleted statement sent via Viber, a copy of which was already saved by the BusinessMirror, the LTFRB said JoyRide was charging passengers a “priority boarding fee,” which could easily rise up to P1,000.

The LTFRB then reposted a different statement on Viber, saying that it has sent letters to all other transport network companies (TNCs), reminding them to have their transport network vehicle service (TNVS) providers—more commonly referred to as peers of partners—to follow the fare matrix listed under a 2019 memorandum circular.

Under the said memo, sedan-type TNVS are allowed to charge the following: P40 flag down rate, P15 per kilometer rate, and P2 per minute travel rate. Premium cars are allowed the following: P50 flag down rate, P18 per kilometer rate, and P2 per minute travel rate. Lastly, hatchback or subcompact type TNVS have P30 flagdown rate, a P13 per kilometer fare rate, and P2 per minute travel fare.

“Based on an anonymous complaint submitted to the LTFRB, it was found that a TNC was charging as much as P1,000 representing one-way ride due to what is called ‘Priority Boarding Fee.’ The LTFRB

is currently investigating the said complaint,” LTFRB Executive Director Tina Cassion said.

She explained that the agency revised the earlier statement as it “saw it fit to already write all TNCs warning them against the imposition of excessive fare contrary to current guidelines on TNVS fares.” Screenshots of booking requests with JoyRide’s priority fee were also secured by the BusinessMirror from a credible source.

Based on one of the four screenshots, a 9.9-kilometer trip from an All Day Convenience Store in Las Piñas to Concentrix Philippines Office in Alabang originally costs P139 for the “trip fare.” However, the total fare went up to P1,139 due to another line item called “priority fee” on the fare breakdown.

Sought for comment, JoyRide SVP for Corporate Affairs Noli Eala belied the claims of LTFRB, saying that “JoyRide is completely unaware of any such findings made by the LTFRB up to this date.”

“What is factually known to us is that JoyRide was requested to explain by the LTFRB on May 24, 2022 the so-called vague and unclear allegations of an anonymous complaint for a supposed P1,000 fare, the details of which including points of pickup and drop-off, were totally omitted and unexplained,” Eala said.

However, he acknowledged that JoyRide does provide an “optional” priority fee “that customers can freely add to the total fare of the booking. It is an industry used term and practice in case a customer would like to tip or incentivize a driver-partner in advance.”

Friday, June 3, 2022 A5

Concepcion, experts push lifting of PHL public health emergency

P

By Andrea San Juan

RESIDENTIAL Adviser for Entrepreneurship Jose Maria “Joey” A. Concepcion III said the Philippines should lift the state of public health emergency to promote confidence among the population after the country was classified under the lowest travel-risk classification by the Centers for Disease Control and Prevention (CDC).

Just recently, the CDC placed the Philippines under the lowest-travel risk warning classification. According to America’s leading sciencebased organization, the Philippines is now in a Level 1 travel risk classification, which is considered the lowest risk classification reserved for countries that have 49 or fewer new cases per 100,000 residents over the last 28 days.

“It would be just the right time as all over the world, economies are starting to resume normal activity,” Concepcion said.

The Go Negosyo founder emphasized that even countries like Australia, Singapore, Canada, the United Kingdom, Spain and Italy—which are on CDC’s Level 3 or high-risk category are not under a state of public

health emergency.

Concepcion noted that the Philippines should focus on job creation, opening up all areas, resuming faceto-face classes, and encouraging people to return to office.

Concepcion said he believes that Filipinos can already make informed decisions on how to keep themselves safe from Covid-19 and prevent infecting others. Further, he cited an OCTA Research study conducted last March, which found that the majority of Filipinos would continue to wear face masks even after Covid has been under control, with a third even considering wearing masks for a year longer.

“I think wearing of face masks outdoors should now be optional, but it should remain mandatory in

indoor situations especially in public transport,” said Concepcion.

For his part, OCTA Research fellow Fr. Nicanor Austriaco agreed with Concepcion saying that an increasing number of studies are showing that “wearing an N-95 mask after you are vaccinated and boosted will protect you from getting Covid-19 even if everyone else around you is now wearing a mask.”

Austriaco added, “This should reassure the Filipino people that they can protect themselves even as our society begins to relax the outdoor and even indoor mask wearing requirement as other countries have done.”

Public health advocate Dr. Tony Leachon agreed, saying, “People are now aware of how to keep themselves safe, but we must continue reminding them.”

Vaccine Expert Panel member and Infectious Disease expert Dr. Rontgene Solante, for his part, said, “we should strictly implement health protocols without the lockdowns.” He also noticed that despite the slight rise in Covid cases, most are mild and no longer require hospitalization.

Dr. Solante and Dr. Marical Limpin, President of the Philippine College of Physicians, believe that as the country moves forward from the pandemic, it should devote its attention to long-term investments such as health infrastructure, particularly in strengthening intervention on emerging and reemerging infections.

“We need to improve our capacity and this will mean putting sufficient investment in it,” said Dr. Limpin.

As observed in other policy changes, the country has been slowly loosening restrictions. In fact, incoming tourists are no longer required to take a Covid-19 swab test so long as they have at least one booster vaccination.

“Because this will not be our final pandemic, we should work on refining our public health warning system,” Concepcion said.

The Go Negosyo founder recommended an alert level system that will be based on health care and ICU bed utilization rates, rather than on infection rates. Conception had earlier suggested a public health warning system that would be similar to typhoon alert warning systems.

He added that inoculation of vaccines and booster doses should continue, emphasizing that it would even be better if the inoculation of second boosters can be expanded to include those 50 years or older.

Meanwhile, Dr. Solante urged the incoming administration to come up with flexible health systems, in order for the country to successfully combat the pandemic.

“We should find ways to move past this pandemic with innovative and highly adaptable health systems, surveillance and diagnostics. That will be the challenge of the next administration,” said Solante.

DTI launches updated version e-Presyo app to boost price monitoring of BNPCs

T

HE Department of Trade and Industry (DTI) has launched e-Presyo 2.0, an updated version of the online price monitoring system, to bridge the gap between consumers and retailers on their price monitoring concerns.

At a virtual news briefing on Thursday, the DTI-Consumer Protection Group (CPG), through its Consumer Policy and Advocacy Bureau (CPAB), launched an enhanced version of the e-Presyo, an online price monitoring system, to ensure a faster and more efficient gathering and management of data and accurate generation of reports.

DTI is mandated under the Republic Act 7581 or the Price Act, as amended, to ensure the availability of basic necessities and prime commodities (BNPC) at reasonable prices for the protection of consumers and businesses.

Trade Secretary Ramon Lopez, however, stressed that with limited manpower resources and, at the same time, the growing number of retail stores and products to monitor across

the country, the DTI had to utilize technology while tapping other organizations to develop a more efficient crowdsourcing system.

The outgoing trade chief recognized DTI’s successful partnership with the United States Agency for International Development (USAID) and University of the Philippines Public Administration Research and Extension Services Foundation Inc. Regulatory Support Program for Nation Development (UPPAF RESPOND) which helped in enhancing the online price monitoring platform. These organizations share the same goal of advancing inclusive economic growth.

“Hindi naman kakayanin ng limited resources, manpower resources ng DTI, so we thought it best to develop a crowdsourcing system and making use of course of the new technology,” said Lopez.

Representing the DTI in this partnership, according to Lopez, were the Information Systems Management Service (ISMS) and the Management Services Group (MSG).

“I thank again and acknowledge the efforts of ISMS, MSG, UPPAF RESPOND team, and the USAID organization in general in coming up with this enhanced app,” added Lopez.

For his part, USAID-Philippines Economic Growth Specialist Jay de Quiros said that the upgraded ePresyo 2.0 platform is timely since it promotes transparency and accountability among establishments selling basic and prime commodities being monitored by DTI. Moreover, de Quiros echoed DTI Undersecretary Ruth Castelo in saying that this online platform will empower both DTI personnel and consumers to be updated on prices of essential commodities especially amid disasters, pandemic and global supply chain disruptions as these unforeseen circumstances are the culprits behind the fluctuation of prices.

Representing the UPPAF RESPOND team, Chief Technology Officer of Insight Supply Chain Solutions Relly Noman, emphasized

TWG sets presentation of dept staffing pattern to incoming DMW chief Ople

By Samuel P. Medenilla @sam_medenilla

T

HE Technical Working Group (TWG) of the Department of Migrant Workers (DMW) is set to present this week its proposed staffing pattern of the new department to its incoming Secretary Susan “Toots” V. Ople.

In a televised interview on Thursday, Philippine Overseas Employment Administration (POEA) Administrator Bernard P. Olalia announced he and other DMW-TWG members are expected to meet with Ople on Friday.

“That is among the topics for discussion [in the meeting] tomorrow,” Olalia said in a Viber message when asked if the DMW staffing pattern will be submitted to Ople for her consideration.

The staffing pattern is among the three requirements for the new agency to become fully operational.

The other two requirements are the Implementing Rules and Regulations (IRR) of Republic Act (RA) No. 11641 or the Department of Migrant Workers Act and the 2023 budget of the new agency.

The DMW-TWG already published the IRR for RA 11641 last April.

Olalia said the staffing pattern would be crucial for the operation of the DMW since it will include the organizational structure of its regional and central office.

It will also determine, who among the workers of the concerned agencies will be absorbed by DMW. According to RA 11641, “any such personnel whose position is not included in the new position structure

and staffing pattern approved by the [DMW] Secretary, or who is not reappointed shall be entitled to the benefits under applicable laws, rules, and regulations.”

Among the agencies of the Department of Labor and Employment (DOLE) to be subsumed with the DMW are POEA; all of the Philippine Overseas Labor Offices (POLO); International Labor Affairs Bureau (ILAB); National Reintegration Center for OFWs (NRCO); and National Maritime Polytechnic (NMP).

Also to become part of DMW are the Office of the Undersecretary for Migrant Workers Affairs (OUMWA) of the Department of Foreign Affairs (DFA) and the Office of the Social Welfare Attaché of the Department of Social Welfare and Development (DSWD).

that the new e-Presyo platform actually consists of two mobile applications—the price monitoring and consumer applications.

The presentation highlighted that “the new e-Presyo platform allows DTI’s price monitors, retailers, consumers and planners to gather, share and utilize the prices of consumer goods across the country.”

The Price Monitoring application boasts of key features that may help the DTI field agents in monitoring their assigned stores and products, both in online and offline modes.

Particularly, the application allows the field agents to record the prices of products in their assigned stores, see suggested retail price (SRP) and latest prices, and record any changes with digital proof.

For the participating stores, the e-Presyo platform can also help ease

their burden in terms of allowing them to upload their products, prices and inventory which they can share with consumers. The same pricing information will also be available to consumers via the e-Presyo consumer mobile app.

Meanwhile, the Consumer Application caters to the needs of consumers, who can utilize the application by searching for products, in which they are given options to scout for cheapest product, nearest store relative to their location, among others. With this consumer app, consumers can also report on any perceived overpricing from a store and provide proof and location information of the said store.

The presentation further provided that “data maps can also be produced to indicate price monitoring coverage across the country or

plot historical price trends and data integration with other agencies.”

Noman stressed that the Consumer App is available on Android and IOS and it is location-based service.

For the e-Presyo platform, it can be accessed through: https:// epresyo.dti.gov.ph/. The said applications can be downloaded through the links located at the bottom of the e-Presyo web site.

For her part, DTI Undersecretary Castelo mentioned that the DTI would also be launching the Philippine Online Dispute Resolution System (PODRS) this month, which aims to improve the handling of consumer complaints.

The trade department has begun the pilot testing of the PODRS in 2021 also with the help of USAID and UPPAF. Andrea San Juan

A6

BusinessMirror

Friday, June 3, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

AB LEISURE EXPONENT, INC. 5/f Sm Megamall Bldg. D, J Vargas, Wack-wack Greenhills, City Of Mandaluyong

1.

DENG, JIACHENG SEM Specialist

Basic Qualification: Advanced SEM skills

Brief Job Description: Know how to do SEM job

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

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

PATHURI, ANANDA SRINIVAS Data Management Associate Director

2.

Brief Job Description: Develop product strategy, product roadmap and release plans for common tools used by Accenture operations service delivery teams. Provide thought leadership and sales support, differentiating Accenture’s competitive position while ensuring ongoing alignment with the global market, the industry and operations programs. Leverage tech partnerships and the wider Accenture ecosystem to provide software products to meet operations’ needs, utilizing the new product enablement framework

Basic Qualification: Overall experience of at least 15 years, 5 years of technology & operations experience, minimum of 5 years managerial experience, master’s degree, MBA preferred.

Proven experience as a CTO or similar leadership role, knowledge of technological trends to build strategy, understanding of budgets and business-planning, ability to conduct technological analyses and research, excellent team-management and communication skills, strategic thinking problem-solving aptitude

No.

THUKRAL, SAURABH Service Delivery Ops Lead Senior Manager 3.

Brief Job Description: Manage client relationships and providing industry insights and experience. Responsible for overseeing the daily operational performance management and ensure both contractual and operational kpis of the entire project are met

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

GONG, PENG Chinese Speaking Data Entry Clerk 10.

4.

Brief Job Description: Recognized expert in technical leadership within their domain or specialty area, serving as the primary technical leader for their business area.

Basic Qualification: Educational background: bachelor of engineering graduate or more general working experience: more than 10 years.

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

AMDOCS PHILIPPINES INC. 23rd, 25th, And 26th Floors Eco Tower, 32nd St. Cor. 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig HEDAU, PIYUSH KUMAR Service Partner 5.

Brief Job Description: Responsible and accountable for coordination of multiple related projects that needs to be delivered

Basic Qualification: Bachelor’s degree with 20 years of experience in the project management, expertise in customer facing Salary Range: Php 150,000 - Php 499,999

6.

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

11.

12.

13.

14.

15.

16.

7.

Brief Job Description: Design strategy and goals for growth control budget and optimize expenses. Ensure employees are motivated and productive. Head of the executive board and the company

Basic Qualification: Fluent in Mandarin and English Language Both in Written and Verbal. Must Familiar in Expert Planning and Administrative Writing and Reporting Skills

NG YUEN LEONG Bi-lingual Speaking Data Analyst Executive 8.

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, Mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese Salary Range: Php 60,000 - Php 89,999

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig KUMAR, YOGESH General Manager 9.

Brief Job Description: Online Premium Services Support management - Managing multiple workflows for world largest video sharing account

17.

24.

25.

Brief Job Description: Customer service.

FENG, HONGGUANG Call Center Agent Brief Job Description: Customer service.

LONG, MINGXIAN Call Center Agent Brief Job Description: Customer service.

SHU, SHAOHUA Call Center Agent Brief Job Description: Customer service.

YE, HAILONG Call Center Agent Brief Job Description: Customer service.

Basic Qualification: College graduate / level and fluent in mandarin / basic English.

26.

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

27.

Basic Qualification: College graduate / level and fluent in mandarin / basic English.

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

Brief Job Description: Monitoring and maintaining computer systems and networks

28.

29.

JIANG, FANGFANG Chinese Speaking Business Financial Officer 18.

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

NONG THI THUY HANG Chinese Speaking Business Financial Officer 19.

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

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

30.

20.

HERMAN, CHLOE NANCY Assistant Director For Food And Beverage Brief Job Description: Responsible for the output and development

31.

LEONG HUP (PHILIPPINES), INCORPORATED Penthouse 6 Landsdale Tower, #86 Mother Ignacia Ave., Paligsahan, Quezon City LUM CHEE KEEN Purchasing Executive 21.

Brief Job Description: Surveying market price and marketing purchase to ensure value on each transaction.

Basic Qualification: Bachelor’s Degree in Business Administration; 2 to 3 years of relevant experience.

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

32.

22.

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

KYAW SOE MIN Burmese Customer Service Representative

23.

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

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

33.

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

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

FENG, FAN Chinese Customer Service Representative

34.

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

35.

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

36.

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

JIANG, JIANJUN Chinese Customer Service Representative

37.

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

JIN, ZHANQIANG Chinese Customer Service Representative

38.

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

KANG, FENG Chinese Customer Service Representative

39.

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

LI, QINGQUN Chinese Customer Service Representative

40.

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

LI, SHAOHUA Chinese Customer Service Representative

41.

Brief Job Description: Managing incoming calls and customer service inquires LI, XIAOHUA Chinese Customer Service Representative

42.

Brief Job Description: Managing incoming calls and customer service inquires LUO, HUI Chinese Customer Service Representative

43.

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

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

DAI, QINGMING Chinese Customer Service Representative

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City AYE THU ZAR WIN Burmese Customer Service Representative

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

CHEN, JINHANG Chinese Customer Service Representative

Basic Qualification: Knowledge of basic training technique Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Managing incoming calls and customer service inquires CHEN, JINBIAO Chinese Customer Service Representative

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

GRANDVENTURE MANAGEMENT SERVICES INC. 10/f Newport Entertainment & C Bldg., Newport City, Manlunas St., Barangay 183, Pasay City

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

YEE YEE HLAING Burmese Customer Service Representative

Basic Qualification: Can speak mandarin

Basic Qualification: Proficiency in handling customer questions about services or products / excellent Mandarin communication skills

Brief Job Description: Managing incoming calls and customer service inquires SHIN SHU Burmese Customer Service Representative

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

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

Brief Job Description: Managing incoming calls and customer service inquires SAI NAY LIN AUNG Burmese Customer Service Representative

Basic Qualification: College graduate / level and fluent in mandarin / basic English.

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

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

PHYO PAING Burmese Customer Service Representative

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

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

PAN EI PHYU Burmese Customer Service Representative

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

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

NANG PA PA AUNG Burmese Customer Service Representative

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

Basic Qualification: Bachelor of Engineering with Digital Marketing Experience required Salary Range: Php 150,000 - Php 499,999

CHENG, FEI Call Center Agent

ZHAO, HENG Mandarin Customer Service

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

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

Brief Job Description: Recommends potential products or services to management by collecting information and analyzing customer needs

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MYINT LWIN Burmese Customer Service Representative

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

FLYING FUTURE SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

CASH MART ASIA LENDING INC. #53, Bayani Road, Western Bicutan, City Of Taguig WEE SIRONG, DARYL President / General Manager

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

No.

FLYING DRAGON NETWORK PHILIPPINES INC. Ri Rance Ii Bldg., Block 2 Lot 3 Aseana City, Tambo, City Of Parañaque

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

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

DUONG THI DUYEN Mandarin Speaking Customer Service Representative

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center, Cbp1, Macapagal Blvd., Barangay 76, Pasay City CHEN, XIANG Mandarin Customer Relations Officer

QUALIFICATION AND SALARY RANGE

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

AECOM PHILIPPINES, INC. 23f Fort Legend Tower, 3rd Ave. Cor 31st St., Bonifacio Global City, Fort Bonifacio, City Of Taguig SAMSUL AMRI BIN ABDULLAH A158 Substation Expert (SC)

ESTABLISHMENT / ADDRESS

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

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Cpa an advantage but not required; preferred are graduates of accounting, business or its branches; bpo experience required, proficient in ms office, sap, or any accounting-related erps, strong verbal and oral communication & clientfacing skills, minimum of 6-year experience in the finance and accounting field;

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

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

PENG, CHANGHUAI Chinese Customer Service Representative

44.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION QI, DONGLIN Chinese Customer Service Representative

45.

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

TANG, DONGPING Chinese Customer Service Representative

46.

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

WEN, MINGWU Chinese Customer Service Representative

47.

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

ZHOU, SHAOBIN Chinese Customer Service Representative

48.

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

ZHU, YINGHE Chinese Customer Service Representative

49.

Brief Job Description: Managing incoming calls and customer service inquires FERRY IRAWAN Indonesian Customer Service Representative

50.

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

51.

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

52.

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

53.

Brief Job Description: Managing incoming calls and customer service inquiries ERIC NG JUN KIAT Malaysian Customer Service Representative

54.

Brief Job Description: Managing incoming calls and customer service inquiries SIK SHEN JUEI Malaysian Customer Service Representative

55.

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

HA THI THUY Vietnamese Customer Service Representative

56.

Brief Job Description: Managing incoming calls and customer service inquiries HO NHI DINH Vietnamese Customer Service Representative

57.

Brief Job Description: Managing incoming calls and customer service inquiries HOANG DOAN DOAN Vietnamese Customer Service Representative

58.

Brief Job Description: Managing incoming calls and customer service inquiries LE THI HANH Vietnamese Customer Service Representative

59.

Brief Job Description: Managing incoming calls and customer service inquires LE THI NHI Vietnamese Customer Service Representative

60.

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

NGUYEN THI HANG Vietnamese Customer Service Representative

61.

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

PHAN THI HOANG LAN Vietnamese Customer Service Representative

62.

Brief Job Description: Managing incoming calls and customer service inquires PHAN THI MY LINH Vietnamese Customer Service Representative

63.

Brief Job Description: Managing incoming calls and customer service inquires TAN HOAN HIEU Vietnamese Customer Service Representative

64.

Brief Job Description: Managing incoming calls and customer service inquires TRAN CONG HUU Vietnamese Customer Service Representative

65.

Brief Job Description: Managing incoming calls and customer service inquires TRAN THI NGOC Vietnamese Customer Service Representative

66.

Brief Job Description: Managing incoming calls and customer service inquires TU VAN UT Vietnamese Customer Service Representative

67.

Brief Job Description: Managing incoming calls and customer service inquires BUI CONG PHI Vietnamese Customer Service Representative

68.

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

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

No.

CHIN NA Indonesian Customer Service Representative 69.

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

70.

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

71.

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

72.

73.

Salary Range: Php 30,000 - Php 59,999 74.

Basic Qualification: Able to speak, read, and write Chinese language 75.

Salary Range: Php 30,000 - Php 59,999 76.

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

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

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

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

LI, WANLIANG Chinese Customer Service 77.

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

Brief Job Description: Customer support and data base services

LI, RUWEN Chinese Customer Service

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

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

CHEN, LI Chinese Customer Service

JIANG, JIANJUN Chinese Customer Service

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

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

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

DENG, TINGTING Chinese Customer Service

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

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

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

LIU, FANGLI Chinese Customer Service 78.

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

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

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

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

79.

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

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

LIU, MINGMING Chinese Customer Service Brief Job Description: Customer support and data base services

RAO, XIAOMA Chinese Customer Service 80.

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

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

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

81.

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

SHI, GUANGZHOU Chinese Customer Service Brief Job Description: Customer support and data base services

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

82.

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

83.

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

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

QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem solving skills.

85.

84.

SHI, XINHUI Chinese Customer Service Brief Job Description: Customer support and data base services

SONG, KANG Chinese Customer Service Brief Job Description: Customer support and data base services

SU, BAOSHU Chinese Customer Service Brief Job Description: Customer support and data base services

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SUN, HONGYUE Chinese Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem solving skills.

TANG, JIMING Chinese Customer Service 86.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem solving skills.

87.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate 4 years bachelor degree with critical thinking and problem-solving skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

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

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

WANG, KAI Chinese Customer Service 88.

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

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

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

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems.

MICHAEL SUKIANTO Indonesian-marketing Officer

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

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems.

RONNY Indonesian Customer Service Representative

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

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems.

JIKI Indonesian Customer Service Representative

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

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

ESTABLISHMENT / ADDRESS

MPOTECH DIGITAL SYSTEM INC. 47/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Friday, June 3, 2022

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

WU, HUA Chinese Customer Service 89.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language).

90.

XIAO, YUHE Chinese Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English)

XIONG, ZHIHUI Chinese Customer Service 91.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language).

XU, XUQINGXU Chinese Customer Service 92.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English)

YANG, WEI Chinese Customer Service 93.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English)

94.

95.

96.

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

ZHANG, XUE Chinese Customer Service 97.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

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

ZHANG, XIN Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

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

ZHANG, XIAOWEI Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English)

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

ZHANG, XIANFA Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

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

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

ZHOU, BOHAO Chinese Customer Service 98.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

KHEMTONG, PANISARA Customer Service Representative 99.

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

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

100.

DAO THI HANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English) 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: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English) 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: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English) 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

A7

BusinessMirror

Friday, June 3, 2022

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN DUC BINH Vietnamese Customer Service

101.

102.

103.

104.

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

NGUYEN VAN THAI Vietnamese Customer Service Brief Job Description: Customer support and data base services

NONG THI CHIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NONG THI LIEU Vietnamese Customer Service Brief Job Description: Customer support and data base services.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language & English)

Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

105.

Brief Job Description: Manage and supervise the day to day operations of the company.

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

106.

Brief Job Description: Monitoring and maintaining computer systems and network

116.

Basic Qualification: Master’s degree in engineering with experience as ship surveyor for japanese firm.

117.

118.

107.

Brief Job Description: Managing market survey of beverage, and personal care

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

108.

Brief Job Description: Monitoring and overseeing the performance of senior management as the latter manages the day affairs of the institution.

Basic Qualification: At least college graduate or have sufficient experience in managing the business.

119.

RUKKY Data Analyst Officer 109.

Brief Job Description: Multilingual customer support, specifically for other Asian language.

Basic Qualification: Must be 21 years old and above; graduate of any vocational or bachelor’s degree course; at least 1 year experience as data analyst or customer service; with good oral and written.

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

120.

121.

122.

110.

Basic Qualification: Proven experienced OM

Brief Job Description: Lead, motivate, and support a large team

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

111.

112.

Basic Qualification: Can Speak Mandarin

Brief Job Description: Maintain accurate sales record

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

LIU, JIAN Mandarin Operations Specialist

Basic Qualification: Can speak English

Brief Job Description: Maintain accurate sales records

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

PHILIPPINES FIBER OPTIC CABLE NETWORK LTD., INC. Unit 2802-2803, 28th Floor, The Podium, Adb Avenue, Wack-wack Greenhills, City Of Mandaluyong XIONG, RUOXI Marketing And Sales Associate 113.

Brief Job Description: Plan and implement sales, marketing and advertising activities

Basic Qualification: Minimum of 3 years of working experience in the related field; fluent in Mandarin/ basic English Salary Range: Php 30,000 - Php 59,999

123.

RITA Manager Financial Controlling 114.

Brief Job Description: Ensure efficient collection of data for proper translation for the purpose of financial cycles, such as multidimensional cost view – Consumer Journey, ZBS, PBO, among others.

124.

No.

131.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Fluent in the Bahasa Indonesia and English language (spoken and written)

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

Basic Qualification: Bachelor’s degree or equivalent experience; accounting or finance an advantage; 4t years operations/analysis/ work force or finance experience.

132.

133.

Brief Job Description: Apply diagnostic utilities to aid in troubleshooting.

YOUN, SUKHWAN Korean Technical Support Staff Brief Job Description: Apply diagnostic utilities to aid in troubleshooting.

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

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

134.

135.

125.

MIYAMOTO, KENTA Japanese Technology Analyst Brief Job Description: Develop and analyze functional specifications

136.

137.

MAO, XUELI Manager, Red Lantern International 126.

Brief Job Description: Ensure the success of the outlet by effective leadership, consistency and commitment always keeping in mind the interests of the stakeholder and colleagues.

139.

KUROYANAGI, SHUNSUKE TFS Representative 127.

Brief Job Description: Make marketing study in connection to clients need

Basic Qualification: College Graduate

140.

128.

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

LIN, HE-ZHAN a.k.a. LIN, KEN-FENG Customer Relation Representative (mandarin Translation)

129.

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

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

LY HAO KIET Customer Relation Representative (mandarin Translation) Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through mandarin to English translation.

Brief Job Description: Develops and plans mandarin language lessons for grades 3 to 4.

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties KALIDAS Indonesian-speaking Customer Service Officer

141.

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties RAHMAN PRANATA Indonesian-speaking Customer Service Officer

142.

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

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

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian Speaking and Written Salary Range: Php 30,000 - Php 59,999

143.

Basic Qualification: Able to speak, read, and write Malaysian and Mandarin

LEE KUANG JIAN Spray Paint Specialist Brief Job Description: Training of employees and dealer

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

ZXY ECOMMERCE PLATFORM & CONSULTANCY INC. 1960, A Mabini St., 077, Barangay 701, Malate, City Of Manila

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

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

Basic Qualification: 5 yrs. experience in the same field and bachelor’s degree.

ZENSHIN SYSTEMS CORPORATION 25, G. Roxas St., San Jose, Quezon City

ZHANG, HONG Mandarin Customer Service Representative

VICCI BUSINESS CONSULTANCY CORP 11/f Tower 1, The Enterprise Center, Ayala Ave. Cor, Paseo De Roxas St., San Lorenzo, City Of Makati HUA HONG AN Customer Relation Representative (mandarin Translation)

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

JERICO JONAS APRILLIO Indonesian-speaking Customer Service Officer

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

TOYOFUJI SHIPPING CO., LTD-PHILIPPINE REPRESENTATIVE OFFICE 5/f Altoha Bldg., 2100 Madre Ignacia St., 077, Barangay 701, Malate, City Of Manila

Brief Job Description: Directly reporting to CEO/ president

EDI FAHRIYANSYAH Indonesian-speaking Customer Service Officer

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

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

MELISSA LIM YING PEI General Manager

DIMAS ALFIANTO Indonesian-speaking Customer Service Officer

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

Basic Qualification: Proficient in speaking, reading & writing; candidate should have a minimum 1 year + experience in the same field.

Basic Qualification: Fluent in Mandarin/ English language; knowledge of business and management principles

DICKY ARTA WIJAYA Indonesian-speaking Customer Service Officer

138.

SURESTE PROPERTIES INC. The Executive Offices, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

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

ARIEF BUDI PRASETYO Indonesian-speaking Customer Service Officer

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

Basic Qualification: Design efficient Japanese technology systems that meet business needs

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

ALEXANDER JANUAREKA Indonesian-speaking Customer Service Officer

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

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

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

Basic Qualification: Can speak and write fluent Korean language.

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

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

HUANG, AUSTIN LI Chinese Curriculum Developer For Grades 3 To 4

Basic Qualification: Can speak and write fluent Korean language.

Basic Qualification: Can speak and write fluent Korean language.

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

XAVIER SCHOOL, INC. (ALSO KNOWN AS KUANG CHI SCHOOL) #64, Xavier St., Greenhills, City Of San Juan

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

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

Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

WORLDHOTEL MAKATI INC. Kalayaan Cor., Makati Ave.,, Poblacion, City Of Makati

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

Basic Qualification: Can speak and write fluent Korean language.

QUALIFICATION AND SALARY RANGE

TRINH SENH PAU Customer Relation Representative (mandarin Translation)

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Fluent in the Chinese/ mandarin and English language (spoken and written)

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN DUY KHUONG Customer Relation Representative (mandarin Translation)

STRAIGHT LOGIN INCORPORATED Unit 506 & 507 Avida Cityflex, 7th Street Corner Lane T Bonifacio Global City, Fort Bonifacio, City Of Taguig

130.

PROTEGIC CORPORATION Unit 1409, 14f Entrata Urban, Alabang, City Of Muntinlupa

KIM, SHINHO Korean Technical Support Staff

XU, ZHENHUAN Chinese Speaking Digital Marketing Specialist

PMI BUSINESS SOLUTIONS (PHILIPPINES) INC. 15th/f & 16th/f 8 Rockwell, Hidalgo Drive, Rockwell Center, Poblacion, City Of Makati Basic Qualification: Excellent skills in business partnering, data interpretation & problem solving, financial planning and target monitoring.

Brief Job Description: Extensive knowledge of online, marketing, media, and revenue management.

WANG, JIAXUAN Chinese Speaking Digital Marketing Specialist

PHILIPPINE FULL DEGREE COMMUNICATIONS CORP. 10/f Alphaland Makati Place, 7323 Ayala Ave. Cor. Malugay St., Bel-air, City Of Makati HE, ZHENHUI Mandarin Operations Specialist

Basic Qualification: Fluent in the Bahasa Indonesia and English language (spoken and written)

SPRITZER TRADING CORP. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati

PESOMAT LENDING CORP. (PESOMAT) Unit 705 7/f Antel 2000 Corporate Center,, 121 Valero St., Bel-air, City Of Makati AMARBAYASGALAN, ENKHDULGUUN Operations Manager

Brief Job Description: Make initial prospecting and qualifying of leads via consultative research.

CHOI, WONGEUN Korean Research Analyst

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

PACIFIC SEA BPO SERVICES, INC. 16/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Brief Job Description: Responsible for development and maintenance of pricing & financial models to support new and existing client opportunities.

KIM, SANGYONG Korean Marketing Consultant

ORIX METRO LEASING AND FINANCE CORP. 21/f Gt Tower 6813 Ayala Ave. Cor., H.v. Dela Costa St., Bel-air, City Of Makati SUZUKI, RYOHEI Director

Brief Job Description: Trained assigned employees in their areas of work including customer service-related methods, procedures and techniques

QUALIFICATION AND SALARY RANGE

SKYLUCK CORPORATION #360, Unit 243 Shaw Center Mall, Shaw Blvd. Penthouse Shaw I.t. Center, Addition Hills, City Of Mandaluyong

Basic Qualification: Can speak mandarin

Basic Qualification: 15 Years Experience in Flavor Industry

Brief Job Description: Analyzed and maintains customer satisfaction reports

SHARMA, MANSI Pricing Manager

OGAWA FLAVORS AND FRAGRANCES (SINGAPORE) PTE. LTD. PHILIPPINES REPRESENTATIVE OFFICE 7th Floor Robinsons Zeta Bldg., Bridgetown C-5 Road, Ugong Norte, Quezon City KUBO, TAKAHIRO Chief Representative

SUMETI Senior Indonesian-language Customer Service Support Staff

ESTABLISHMENT / ADDRESS

SITEL PHILIPPINES CORPORATION Ortigas Home Depot, Julia Vargas Ave., Ugong, City Of Pasig

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

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

Brief Job Description: Evaluate workflow processes and procedures to develop, recommend and implement procedural and system changes to increase accuracy and efficiencies

TAN KAR YEN Senior Mandarin/Chinese-language Customer Service Specialist

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

OCEANIC SYMPHONY SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati ZHANG, TIAN Mandarin Technical Support

115.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ANDREA HONG Senior Account Officer-Indonesian Language

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

NIPPON KAIJI KYOKAI Unit 902, Pearl Of The Orient Tower 1240

FURUKAWA, YASUNORI General Manager

No.

www.businessmirror.com.ph

144.

Brief Job Description: Mandarin Customer Service Representative will be in-charge of monitoring delivery of products/ services to clients; processing client’s orders, Responsible for assisting clients with product information. Ensure customer satisfaction and provide professional customer support.

Basic Qualification: Proficient in English and Mandarin languages (reading and writing).

Good typing skills: at least 40 and above WPM. Ability to multitask, prioritize and manage time effectively.

Proficient in Microsoft Docs, Excel & Google Sheet.

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jun 2, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on June 2, 2022, the name of RAJENDRAN, SANDEEP of EASTVANTAGE BUSINESS SOLUTIONS INC., should have been read as RAJENDRAN, SANDEEP and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLENCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

TheWorld

Carbon emissions dip, at least briefly, in China, study says

W

ASHINGTON—China, the world’s top emitter of carbon dioxide that causes global warming, has seen a notable dip in its emissions over the past three quarters—but it’s not clear how long the drop will continue.

A new analysis of China’s economic data shows that carbon emissions dropped 1.4 percent in the first three months of the year, compared to the prior year, making it the third consecutive quarter to show a drop—and the longest sustained dip in a decade.

The downward trend began last year and accelerated over the winter. The decline continued but was milder this spring.

It’s not clear whether China’s emissions will continue to fall this year. Over the past decade, five shorter dips were followed by rebounding emissions.

China’s recent emissions decline was driven by decreased output in cement, steel and power industries, as well as Covid lockdown measures, according to an analysis by Lauri Myllyvirta, a Finland-based climate and energy analyst at the Centre for Research on Energy and Clean Air. “Steel and cement are China’s second and third largest emitting sectors, and the demand for both sectors is largely driven by construction activity,” but policy changes on real estate lending and debt have at least temporarily depressed the construction sector, Myllyvirta wrote in an analysis for

Carbon Brief.

Whether China meets its long-term goal to become carbon neutral by 2060 depends in large part on what happens in its power sector.

And that depends upon how quickly the world’s second largest economy can move away from coal.

China’s leaders have recently doubleddown on plans to promote coal-fired power, calling for coal production capacity to increase by 300 million tons this year, or 7 percent over last year.

Li Shuo, a senior global policy adviser for Greenpeace, told the Associated Press in April that economic concerns, including those related to China’s zeroCovid policy, meant that China’s leaders were prioritizing energy security over moving away from fossil fuels, at least in the short-term.

“This mentality of ensuring energy security has become dominant, trumping carbon neutrality,” he said.

China is currently the world’s largest carbon emitter, although other countries, such as the United States, have contributed a greater share of historic emissions.

China’s carbon emissions increased by 750 megatons over the two-year period between 2019 and 2021, driving the global rebound in carbon emissions after the first phase of pandemic, according to the nonprofit Paris-based International Energy Agency. AP

BusinessMirror

Friday, June 3, 2022

A9

WHO believes Covid getting worse, not better in N. Korea

By Maria Cheng

L

The Associated Press

ONDON—A top official at the World Health Organization said the UN health agency assumes the coronav irus outbreak in North Korea is “getting worse, not better,” despite the secretive countr y’s recent claims that Cov id-19 is slow ing there.

At a briefing on Wednesday, WHO’s emergencies chief Dr. Mike Ryan appealed to North Korean authorities for more information about the Covid-19 outbreak there, saying “we have real issues in getting access to the raw data and to the actual situation on the ground.” He said WHO has not received any privileged information about the epidemic—unlike in typical outbreaks when countries may share more sensitive data with the organization so it can evaluate the public health risks for the global community.

“It is very, very difficult to provide a proper analysis to the world when we don’t have access to the necessary data,” he said. WHO has previously voiced concerns about the impact of Covid-19 in North Korea’s population, which is believed to be largely unvaccinated and whose fragile health systems could struggle to deal with a surge of cases prompted by the super-infectious Omicron and its subvariants.

Ryan said WHO had offered technical assistance and supplies to North Korean officials multiple times, including offering Covid-19 vaccines on at least three separate occasions.

Last week, North Korean leader Kim Jong Un and other top officials discussed revising stringent anti-epidemic restrictions, state media reported, as they maintained a widely disputed claim that the country’s first Covid-19 outbreak is slowing.

The discussion at the North’s

Politburo meeting on Sunday suggested it would soon relax a set of draconian curbs imposed after it announced the outbreak in early May out of concern about its food and economic situations.

North Korea’s claims to have controlled Covid-19 without widespread vaccination, lockdowns or drugs have been met with widespread disbelief, particularly its insistence that only dozens have died among many millions infected—a far lower death rate than seen anywhere else in the world.

The North Korean government has said there are about 3.7 million people with fever or suspected Covid-19. But it disclosed few details about the severity of illness or how many people have recovered, frustrating public health experts’ attempt to understand the extent of the outbreak.

“We really would appeal for a more open approach so we can come to the assistance of the people of [North Korea], because

right now we are not in a position to make an adequate risk assessment of the situation on the ground,” Ryan said. He said WHO was working with neighboring countries like China and South Korea to ascertain more about what might be happening in North Korea, saying that the epidemic there could potentially have global implications.

WHO’s criticism of North Korea’s failure to provide more information about its Covid-19 outbreak stands in contrast to the UN health agency’s failure to publicly fault China in the early days of the coronavirus pandemic.

In early 2020, WHO’s chief Tedros Adhanom Ghebreyesus repeatedly praised China publicly for its speedy response to the emergence of the coronavirus, even as WHO scientists privately grumbled about China’s delayed information-sharing and stalled sharing the genetic sequence of Covid-19.

A10 Friday, June 3, 2022

TheWorld BusinessMirror

China trumpets victory over Covid in front-page editorial

C

hina declared victory over Shanghai’s coronavirus outbreak as the nation reported its fewest new cases in more than three months, vindicating Covid Zero in the eyes of Beijing despite the policy’s rising economic and social toll.

Two women chat as residents line up for mass Covid test on May 31, 2022 in Beijing. AP/Ng Han Guan

A report on the front page of the People’s Daily newspaper Thursday headlined “Great Achievements Have Been Made in the Defense of Shanghai” claimed victory in the fight against the virus in the city of 25 million. In a separate commentary, the chief mouthpiece of the Communist Party said it proved yet again that Covid Zero is the strategy most suited for China because of the country’s aging population, relatively low vaccination rate among the elderly and children, and inadequate medical resources.

New infections fell to 61 across China on Wednesday, from 68 on Tuesday and the lowest since Feb. 17. It’s a marked turnaround from the tens of thousands of cases reported daily in the first half of April, when Shanghai’s outbreak appeared to be spiraling out of authorities’ control, triggering a city-wide lockdown that disrupted business and upended people’s lives.

The city reported just 13 cases for Wednesday, when movement restrictions were eased to allow about 90 percent of Shanghai’s residents to move about freely for the first time in more than two months.

The dramatic drop in nationwide infections from a peak of almost 30,000 in mid-April will be seen as justification President

Xi Jinping is charting the right course. China’s leader has made zero tolerance for Covid a cornerstone of his rule as he seeks an unprecedented third term at the Party congress due later this year.

The original epicenter of Covid, China has trumpeted what it sees as its triumph over the pathogen, with its zealous approach leading to one of the lowest death tolls in the world, especially compared to the US with its more than 1 million fatalities.

But keeping the virus out— especially in the face of more contagious and immune-evasive variants—is exacting a hefty price, with the country shut off from the rest of the world and most economists predicting the country will fail to meet its economic growth target for this year.

Factories have been shuttered for months in some cases, and supply chains snarled as China deploys a playbook of movement restrictions, mass testing and mandatory isolation of all Covid cases and their close contacts.

The capital, Beijing, only averted a lockdown through aggressive curbs such as asking its 22 million residents to work from home and get tested every day.

The outbreak there is now effectively under control, municipal officials said Wednesday, though the risk of a flareup remains. Au-

thorities are mulling measures to stimulate consumer spending after shopping malls and other entertainment venues were shut last month and only recently started to reopen with capacity limits. Beijing reported 14 cases for Wednesday.

But while Covid seems to be contained for now, there are signs China is girding for the next incursion.

To keep the virus at bay, a network of tens of thousands of testing booths is being set up across China’s largest and most economically vital cities, with the goal of having residents always just a 15-minute walk away from a swabbing point. The infrastructure will allow cities like Beijing, Shanghai and tech hub Shenzhen to require tests as often as every 48 hours, with negative results needed to get on the subway, go to a tourist attraction, or even enter a store.

And with China committed to its Covid Zero policy—at least through to the Communist Party congress—the possibility that more lockdowns will be swiftly reimposed in the event of any further virus outbreaks still hangs over the nation.

China’s mRNA booster

China’s home grown mRNA vaccine stimulated the production of more protective antibodies than an inactivated shot when given as a booster, though it appeared to cause more side effects, according to study released Tuesday.

The mRNA vaccine, co-developed by Walvax Biotechnology Co., Suzhou Abogen Biosciences Co. and the Chinese military, generated antibodies against the Delta variant at levels that were 6.5 times higher than those induced by the inactivated vaccine from Sinovac Biotech Ltd, research posted on the medR xiv website found. The immunizations were given as a third shot to 300 prev iously vaccinated people in the trial, which has yet to be peer-reviewed.

People infected with omicron generate significantly lower levels of antibodies in general because of a mutation that allows it to partially evade the protection offered by existing shots. Still, in the study, antibody counts in people given the Chinese mRNA vaccine were 4.4 times higher than those seen with the Sinovac shot.

The development of a local vaccine using state-of-the-art mRNA technology is considered one of the elements China needs

to exit its punishing Covid Zero strategy, marked by a zero-tolerance approach to the virus that has caused widespread social and economic stress. While such shots from Pfizer Inc., BioNTech SE and Moderna Inc. are widely available in most of the world, they haven’t yet been cleared in China.

The mRNA vaccine, now called AWcorna, caused more side effects than the inactivated shot, with one-third of those getting it developing fever and one-fourth experiencing headaches. Of those inoculated with the inactivated vaccine, only 4 percent developed fever and 7 percent reported headache.

Previously protected

Everyone in the study had been previously vaccinated with two doses of an inactivated vaccine from either Sinovac or stateowned Sinopharm. The findings add to a growing body of evidence that using vaccines that work differently, rather than giving a third dose of the same inactivated vaccine, lead to superior protection against both the original Sars-CoV-2 strain and subsequent variants.

More than 90 percent of China’s 1.4 billion people have been fully vaccinated with inactivated shots either from Sinovac or Sinopharm.

More than half have received boosters, though most used the same vaccine.

Only a fraction has been given shots using a different viral vector from CanSino Biologics Inc. or a recombinant protein vaccine from Chongqing Zhifei Biological Products Co. Both those those were found to stimulate a stronger immune response against omicron when used as a booster in earlier studies, compared to those given a third dose of an inactivated vaccine.

AWcorna, previously known as ARCoV, is the most advanced mRNA vaccine candidate from China. Researchers still haven’t reported the results of a key study that enrolled tens of thousands of people from numerous sites outside of the country. An earlier phase I study found it led to more side effects such as fever than similar mRNA shots from western rivals.

Beijing hasn’t approved BioNTech’s shot, even though domestic drugmaker Shanghai Fosun Pharmaceutical Group Co. secured the right to develop and market it in China early in the pandemic. Bloomberg News

Vietnam works with US to make 1st African swine fever vaccine

V

ietnam has collaborated with US experts to produce the world’s first commercially viable vaccine against African swine fever, a disease that has killed millions of hogs across Asia and pushed up global pork prices.

The country partnered with scientists at the Agriculture Research Service of the US Department of Agriculture to develop the vaccine, which is now being produced in Vietnam, Deputy Minister of Agriculture Phung Duc Tien said on the government website.

The deadly hog virus swept across China from 2018, slashing herds in the world’s biggest producer and consumer of pork, boosting imports and sending meat costs soaring. It spread into other Asian countries and also

Sow pigs at a farm near Thetford, UK, on, April 22, 2022. Worker shortages at UK slaughterhouses have left farms with an even bigger backlog of pigs, prompting the industry to call for urgent talks with the government to ease the crisis. Chris Ratcliffe/Bloomberg

showed up in Europe, in places like Germany and Italy. It’s not known to harm humans.

The virus is highly contagious in hogs and can be 100 percent lethal for the animals, causing high fever, loss of appetite and hemorrhaging on the skin and internal organs. Governments

have sought to control the disease by culling herds, restricting transport of pigs and improving hygiene on farms. Global efforts to find a safe and effective vaccine had long proved elusive.

Still, scientists with the USDA’s Agriculture Research Service have been working on a vaccine, which

is based on deleting a gene, and the agency announced in April that it had passed a key safety test needed for regulatory approval.

The agency said that the safety studies were necessary to get the green light for use in Vietnam and eventually other countries, and commercial use will depend on approval from animal health departments in each nation.

Vietnam said this week it imported the attenuated strain from the US in 2020 and carried out more research, which showed that it provides immunity for six months. Navetco National Veterinary JSC is producing the vaccine in the country, and the USDA confirmed in May its safety and efficacy, said deputy minister Tien.

Vietnam is looking to export the vaccine, he said. Bloomberg News

www.businessmirror.com.ph

As gas prices soar, Biden leans toward visiting Saudi Arabia

By Aamer Madhani & Ellen Knickmeyer The Associated Press

W

ASHINGTON—President Joe Biden is leaning towards making a visit to Saudi Arabia—a trip that would likely bring him face-to-face with the Saudi crown prince he once shunned as a killer.

The White House is weighing a visit to Saudi Arabia that would also include a meeting of the leaders of the Gulf Cooperation Council countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates) as well as Egypt, Iraq and Jordan, according to a person familiar with White House planning. The person spoke on the condition of anonymity to discuss the yet-to-be finalized plans.

It comes at a moment when overriding US strategic interests in oil and security have pushed the administration to rethink the arms-length stance that Biden pledged to take with the Saudis as a candidate for the White House.

Any meeting between Biden and de facto Saudi ruler Prince Mohammed bin Salman during a Biden visit to the Middle East could offer hope of some relief for US gasoline consumers, who are wincing as a squeaky-tight global oil supply drives up prices. Biden would be expected to meet with Prince Mohammed, who is often referred to by his initials, MBS—if the Saudi visit happens, according to the person familiar with the deliberations.

Such a meeting could also ease one of the most fraught and uncertain periods in a partnership between Saudi Arabia, the world’s top oil exporter, and the United States, the world’s top economic and military power, which has stood for more than three-quarters of a century.

But it also risks a public humbling for the US leader, who in 2019 pledged to make a “pariah” of the Saudi royal family over the 2018 killing and dismemberment of US-based journalist Jamal Khashoggi, a newspaper critic of many of the brutal ways that Prince Mohammed operates.

White House press secretary Karine Jean-Pierre on Wednesday declined to comment on whether Biden will travel to Saudi Arabia. Biden is expected to travel to Europe at the end of June. He could tack on a stop in Saudi Arabia to meet with Prince Mohammed, Saudi King Salman and other leaders. The president would also likely visit Israel should he extend his upcoming travels to include Saudi Arabia.

Last week, the White House confirmed that NSC Middle East coordiNator Brett McGurk and Amos Hochstein, a senior adviser for energy security at the State Department, were recently in the region. Secretary of State Antony Blinken spoke by phone Monday with his Saudi counterpart.

McGurk and Hochstein, as well as Tim Lenderking, the US special envoy for Yemen, have repeatedly visited Saudi Arabia for talks with Saudi officials about energy supplies, Biden administration efforts to revive the Iran nuclear deal and Saudi’s war in Yemen, recently calmed by a cease-fire.

For Biden, the political dangers of offering his hand to Prince Mohammed include the potential for an embarrassing last-minute public rebuff from a still-offended crown prince known for imperious, harsh actions. Since Prince Mohammed became crown prince in 2017, that has included detaining his own royal uncles and cousins as well as Saudi rights advocates, and, according to the US intelligence community, directing Khashoggi’s killing. Saudi Arabia denies involvement by the crown prince.

Still, Biden stood ready to greet the prince at last October’s G-20 summit in Rome, but Prince Mohammed did not attend.

And any Biden climbdown from his passionate human-rights pledge—Saudi rulers would “pay the price” for Khashoggi’s killing, Biden vowed on the debate stage during his campaign—risks more disillusionment for Democratic voters. They have watched Biden struggle to accomplish his domestic agenda in the face of a strong GOP minority in the Senate.

Democrats appear less vocal now in demands that the US take a hard line with Saudi Arabia’s crown prince. Near-record gas prices are endangering their prospects in the November midterm election.

A leading congressional critic of the Saudi government, Rep. Gerald Connolly of Virginia, said in an email the United States “should reassess its unconditional support for Saudi Arabia.” But he and other Democrats are not publicly telling Biden he shouldn’t meet with Prince Mohammed.

Lawmakers point especially to Saudi Arabia’s refusal despite months of Western appeals to veer from an oil production cap brokered largely between the Saudi kingdom and oil-producer Russia. The production cap is adding to oil supply shortfalls stemming from Russia’s invasion of Ukraine.

At the same time, British Prime Minister Boris Johnson and French President Emmanuel Macron have privately urged Biden to work to soothe US-Saudi relations as has Israel, which sees the kingdom as an essential player in countering Iran.

Besides helping to keep gas prices high for consumers globally, the tight supply helps Russia get better prices for the oil and gas it is selling to fund its invasion of Ukraine. Russian Foreign Minister Sergey Lavrov visited the Saudi kingdom Tuesday, even as talk of a possible Biden-Prince Mohammed meeting grew in Washington.

Frequent, warm visits among Saudi, Russian and Chinese officials during the freeze between Biden and the Saudi crown prince have heightened Western concern that Saudi Arabia is breaking from Western strategic interests.

The United States for decades has ensured US or allied aircraft carriers, troops and trainers and missile batteries remain deployed in defense of Saudi Arabia and its oil fields, and in defense of other Gulf states. The military commitment recognizes that a stable global oil market and a Gulf counterbalance to Iran are in US strategic interests.

From Saudi Arabia, the United States is looking “for real assurances that it is going to be firmly aligned with the United States internationally, and not drift toward or hedge by trying to have comparable relationships with Russia and China. That goes beyond just oil,” said Dan Shapiro, a former US ambassador to Israel. Shapiro is an advocate of bilateral Abraham accords that have helped establish closer ties between some Arab states and Israel.

“The United States needs to have some assurance that it’s going to provide those security guarantees and it has a real partner that’s going to be like a partner,” said Shapiro, now a distinguished fellow at the Atlantic Council.

Officials in Saudi Arabia and the United Arab Emirates, for their part, often see Biden as the latest of several US presidents to neglect the US military’s longstanding protector role in the Gulf, as Washington tries to extricate itself from Middle East conflicts to focus on China.

Those Gulf security worries may be eased by the US move last year bringing control of its forces in Israel under US Central Command. That effectively increases interaction between Israel’s US-equipped military and Arab forces under the US military umbrella, Shapiro said.

Deputy Saudi Defense Minister Khalid bin Salman visited CENTCOM headquarters in Florida last month. Regional coordination was one of the main topics, including, Shapiro said, the possibility of such steps as coordinating the Middle East’s air defense capabilities.

Blinken and White House national security adviser Jake Sullivan also met last month with the Saudi defense official. Sullivan said he talked energy. CIA Director William Burns visited Prince Mohammed in Saudi Arabia in April.

Biden administration officials bristle at the notion that a stepped-up engagement is simply about getting the Saudis to help ease gas prices. Jean-Pierre said last week after McGurk and Hochstein’s most recent travels to the region that the idea that the White House is asking the Saudis to pump more oil “is simply wrong” and “a misunderstanding of both the complexity of that issue, as well as our multifaceted discussions with the Saudis.”

“The president’s words still stand,” she added Wednesday, of Biden’s pledge that the Saudis would “pay a price.”

Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

www.businessmirror.com.ph

TheWorld BusinessMirror

Friday, June 3, 2022 A11

US, Germany agree to supply advanced weapons to Ukraine

By John Leicester & Frank Jordans

Senate Majority Leader Chuck Schumer, D-N.Y., takes a question during a news conference following a closed-door policy lunch, at the Capitol in Washington, on May 24, 2022. The Biden administration foresees unnecessary deaths if lawmakers don’t approve billions of dollars more to brace for the pandemic’s next wave. Yet the push to provide the money is in limbo in Congress.

AP/J. Scott Applewhite

Gridlock could delay Covid funds until fall–or longer

By Alan Fram

The Associated Press

W

ASHINGTON—The US is headed for “a lot of unnecessary loss of life,” the Biden administration says, if Congress fails to provide billions more dollars to brace for the pandemic’s next wave. Yet the quest for that money is in limbo, the latest victim of election-year gridlock that’s stalled or killed a host of Democratic priorities.

President Joe Biden’s appeal for funds for vaccines, testing and treatments has hit opposition from Republicans, who’ve fused the fight with the precarious politics of immigration. Congress is in recess, and the next steps are uncertain, despite admonitions from White House Covid-19 coordinator Dr. Ashish Jha of damaging consequences from “every day we wait.”

Administration officials say they’re running low on money to stock up on, or even begin to order, the latest vaccines, tests and treatments. Also lacking are funds to reimburse doctors treating uninsured patients and to help poor countries control the pandemic.

House and Senate Democrats have been wrangling over how to resolve the stalemate and even over which chamber should vote first. It’s an open question whether they’ll ever get the GOP votes they’ll need to pull the legislation through the 50-50 Senate, and prospects in the narrowly divided House are unclear as well.

“There is still an urgency to pass a Covid relief package,” Senate Majority Leader Chuck Schumer, D-N.Y., said last week.

“It’s very, very much needed.”

Optimists hope the measure could start rolling once Congress returns next week.

Pessimists say without quick resolution, Democrats may not have enough leverage to push the money to passage until early fall. That’s when they could stuff it into legislation that will probably be needed to finance government—a bill that would avert a federal shutdown, a pre-election distraction Republicans will be desperate to avoid.

The heap of sidelined Democratic initiatives has grown this year, a victim of GOP opposition and rebellions by centrists like Sen. Joe Manchin, D-W.Va. Casualties include bills on voting rights, health care, environment, taxes, gun curbs, abortion rights, policing tactics and an investigation of the 2021 Capitol storming by thenPresident Donald Trump’s supporters.

While lawmakers have approved massive packages financing federal agencies through September and helping Ukraine counter Russia’s invasion, other priorities are dead or drifting, even as Democrats’ days running Congress are likely dwindling. Republicans are favored to win House control in November’s elections and could grab the Senate as well, and Democrats’ frustration is clear.

“So far it hasn’t moved,” Sen. Mazie Hirono, D-Hawaii, said of Biden’s latest $22.5 billion request for Covid-19, which he initially sent Congress three months ago. “But then neither has sensible gun legislation, neither has voting rights.”

“The 50-50 Senate sucks,” she said.

The Covid money is needed quickly, officials say. Their warnings have come with over 1 million US deaths from the disease and a fresh variant that daily is hospitalizing over 100,000 Americans and killing more than 300. Both numbers are rising.

Officials say that lacking fresh funds, the US is falling behind other countries that are already lining up for supplies needed for fall and winter. That’s prompted Jha to plan for the chance that Congress provides no new money at all, threatening painful choices about what to do if there aren’t enough vaccines or therapeutics for all who need them.

“It would be terrible,” Jha told reporters recently. “I think we would see a lot of unnecessary loss of life if that were to happen.”

Congress has provided $370 billion for purchasing supplies, for research and other public health initiatives to combat the pandemic, according to administration tallies obtained by The Associated Press.

Around $14 billion of it was unspent or not committed to contracts as of April 5, the documents show, serious money but an amount the administration says falls below the ultimate need.

Most Republicans are skeptical about added pandemic funding. “I have a hard time believing that there’s not enough money and not enough flexibility already” to use it, said Sen. Kevin Cramer, R-N.D. Counterintuitively but unsurprisingly for the always perplexing Senate, one intractable puzzle stymying Democrats is immigration.

Senate Republicans are demanding a vote an amending the pandemic legislation with language retaining Trump-era curbs that, citing Covid-19, have made it easier to bar migrants from entering the US. A federal judge has blocked Biden from ending those restrictions. Liberals want Congress to eliminate the clampdown, but moderate Democrats in both chambers facing tough reelections want to vote to retain it.

The result: Testy divisions between the Democrats’ two ideological factions, and knotty questions for party leaders about how to resolve them and push a pandemic package to passage.

Their task is compounded by disputes between House and Senate Democrats over why the Covid-19 battle remains unresolved.

Senate Democrats note a bipartisan $15.6 billion pandemic compromise was on the cusp of House passage in March until that chamber’s progressive Democrats rebelled against spending cuts to pay for it, derailing the money. “We’re waiting for the House to send us something,” Schumer said last week.

House Democrats say even if they do, the biggest hurdle will still be the Senate, where 10 GOP votes will be required to reach that chamber’s usual 60-vote threshold for passage. They note that an April deal between Schumer and Sen. Mitt Romney, R-Utah, for $10 billion in Covid-19 money collapsed after Republicans demanded the immigration vote.

“We want to get Covid-19 done, but the only impediment right now is the United States Senate,” House Majority Leader Steny Hoyer, D-Md., told reporters recently.

That’s left Republicans waiting for Democrats’ next move.

“I would imagine at this point way over half of our members will vote against this, no matter what. So the question is what do you do to get it acceptable to 10 or 12” Republican senators, said Sen. Roy Blunt of Missouri, a member of GOP leadership.

“And I don’t know.”

K

The Associated Press

YIV, Ukraine—The US and Germany pledged Wednesday to equip Ukraine with some of the advanced weapons it has long desired for shooting down aircraft and knocking out artillery, as Russian forces closed in on capturing a key city in the east.

Ger m a ny sa id it w i l l supply Ukraine with up-to-date anti-aircraft missiles and radar systems, while the US announced it will provide four sophisticated, medium-range rocket systems and ammunition.

The US is trying to help Ukraine fend off the Russians without triggering a wider war in Europe. The Pentagon said it received assurances that Ukraine will not fire the new rockets into Russian territory.

The Kremlin accused the US of “pouring fuel on the fire.”

Western arms have been critical to Ukraine’s success in stymieing Russia’s much larger and betterequipped military, thwarting its effort to storm the capital and forcing Moscow to shift its focus to the industrial Donbas region in the east.

But as Russia bombards towns in its inching advance in the east, Ukrainian President Volodymyr Zelenskyy has repeatedly pleaded for more and better weapons and accused the West of moving too slowly.

Andriy Yermak, the head of the Ukrainian president’s office, hailed the new Western weapons.

“I’m sure that if we receive all the necessary weapons and strengthen the efficient sanctions regime we will win,” he said.

The new arms could help Ukraine set up and hold new lines of defense in the east by hitting back at Russian artillery pieces that have been battering towns and cities and by limiting Russian airstrikes, said retired French Gen. Dominique Trinquand, a former head of France’s military mission at the United Nations.

“The Nato countries—the European nations and the Americans—have progressively escalated the means that they are putting at Ukraine’s disposal, and this escalation, in my

opinion, has had the aim of testing Russian limits,” he said. “Each time, they measure the Russian reaction, and since there is no reaction, they keep supplying increasingly effective and sophisticated weaponry.”

Military analysts say Russia is hoping to overrun the Donbas before any weapons that might turn the tide arrive. It will take at least three weeks to get the precision US weapons and trained troops onto the battlefield, the Pentagon said. But Defense Undersecretary Colin Kahl said he believes they will arrive in time to make a difference in the fight.

The rocket systems are part of a new $700 million package of security assistance for Ukraine from the US that also includes helicopters, Javelin anti-tank weapon systems, radars, tactical vehicles, spare parts and more.

The rockets have a range of about 50 miles (80 kilometers) and are highly mobile. Ukraine had pushed unsuccessfully for rockets with a range of up to 186 miles (300 kilometers).

Kremlin spokesman Dmitry Peskov said Moscow does not trust assurances that Ukraine will not fire on Russian territory. “We believe that the US is deliberately and diligently pouring fuel on the fire,” he said.

Col. Gen. Mikhail Mizintzev later went further, directly accusing Ukraine of planning to fire US-provided missiles from the northeastern Sumy region at border areas in Russia.

The claim, which he said was based on radio intercepts, couldn’t be independently confirmed.

Russian Foreign Minister Sergey Lavrov said Ukraine’s push for more weapons is a “direct provocation intended to draw the West into the fighting.” He warned that the multiple rocket launchers would raise the risk of an expanded conflict.

Ukrainian servicemen prepare to detonate unexploded Russian ammunition in the outskirts of Kyiv, Ukraine, on Wednesday, June 1, 2022. AP/Natacha Pisarenko “Sane Western politicians understand those risks well,” he said.

As the new weapons shipments were announced, a Russian missile hit rail lines in the western Lviv region, a key conduit for supplies of Western weapons and other supplies, officials said. Regional Gov. Maksym Kozytskyy said five people were wounded in Wednesday’s strike, and the head of Ukrainian railways said the damage was still being assessed.

Germany’s promise of IRIS-T air defense systems would mark the first delivery of long-range air defense weapons to Ukraine since the start of the war. Earlier deliveries of portable, shoulder-fired air defense missiles have bolstered the Ukrainian military’s ability to take down helicopters and other low-flying aircraft but didn’t give it enough range to challenge Russia’s air superiority.

Germany has come under particular criticism, both at home and from allies abroad, that it isn’t doing enough.

German Chancellor Olaf Scholz told lawmakers that the IRIS-T’s surfaceto-air missiles are the most modern air defense system the country has.

“With this, we will enable Ukraine to defend an entire city from Russian air attacks,” he said. The radar systems will also help Ukraine locate enemy artillery.

A regional governor said Russian forces now control 80 percent of Sievierodonetsk, a city that is key to Moscow’s efforts to complete its capture of the Donbas, where Ukrainian forces and Russian-backed separatists have fought for years and where the separatists held swaths of territory even before the invasion.

Luhansk Gov. Serhiy Haidai said Russian troops were advancing in the city during fierce street battles with Ukrainian forces, though he noted

that in some districts the Ukrainian troops managed to push them back.

The only other city in Luhansk that the Russians have not yet captured, Lysychansk, is still fully under Ukrainian control, he said, but is likely to be the next target. The two cities are separated by a river.

“If the Russians manage to take full control over Sievierodonetsk within two to three days, they will start installing artillery and mortars and will shell Lysychansk more intensively,” Haidai said.

Zelenskyy, meanwhile, said the country is losing between 60 and 100 soldiers a day in the fighting.

He turned the focus to children in his nightly video address, saying 243 of them have been killed in the war, 446 have been wounded and 139 are missing. The real numbers could be higher, he added, as his government doesn’t have a full picture of areas under Russian occupation.

Zelenskyy also said 200,000 children are among the Ukrainians who have been forcefully taken to Russia and dispersed across that vast country: “The purpose of this criminal policy is not just to steal people but to make those who are deported forget about Ukraine and unable to return.”

In southern Ukraine, a regional governor sounded a more positive note, saying Russian troops were retreating and blowing up bridges behind them.

“They are afraid of a counterattack by the Ukrainian army,” Vitaliy Kim, governor of the Mykolayiv region, said on the Telegram messaging app.

Jordans reported from Berlin. Associated Press writers Yuras Karmanau in Lviv, Ukraine, Lolita C. Baldor in Washington and Jill Lawless in London contributed to this report.

UK military parade kicks off Platinum Jubilee celebrations

By Danica Kirka & Jill Lawless The Associated Press

L

ONDON—Four days of celebrations honoring Queen Elizabeth II’s 70 years on the throne will get underway Thursday with a display of British military traditions stretching from the days of horse and cannon to the jet age.

Formal celebrations for the Platinum Jubilee begin with Trooping the Color, an annual military review that has marked the sovereign’s official birthday since 1760. The queen is expected to join the working members of her family on the balcony of Buckingham Palace at the end of the event, when 70 aircraft are set to roar overhead.

The jubilee is being commemorated with a four-day holiday weekend. The celebration of Elizabeth’s reign includes a service of thanksgiving Friday at St. Paul’s Cathedral in London, a concert at Buckingham Palace on Saturday and a pageant staged by thousands of performers drawn from schools and community groups around the country on Sunday afternoon.

Throughout the weekend, neighborhood organizations and individuals are expected to hold thousands of street parties around the country, repeating a tradition that began

with the queen’s coronation in 1953.

The 96-year-old queen is Britain’s longest-reigning monarch and the first to reach the milestone of seven decades on the throne. The jubilee is giving many people—even those often indifferent to the monarchy—a chance to reflect on the state of the nation and the huge changes that have taken place during her reign.

Former Prime Minister John Major— one of the 14 prime ministers of the queen’s reign—said the monarch’s stoic presence had helped steer the country over the decades, “The queen has represented our better selves for over 70 years,” he told the BBC. In a written jubilee message, the queen thanked people in Britain and across the Commonwealth involved in organizing the celebrations. For many, the occasion is the first opportunity for a big bash since the start of the coronavirus pandemic more than two years ago.

“I know that many happy memories will be created at these festive occasions,” Elizabeth said.

“I continue to be inspired by the goodwill shown to me, and hope that the coming days will provide an opportunity to reflect on all that has been achieved during the last 70 years, as we look to the future with confidence and enthusiasm,”

she said.

Congratulations arrived from world leaders. French President Emmanuel Macron called Elizabeth “the golden thread that binds our two countries” and one of “very few constants” on the international stage.

“You are our friend, such a close ally, our example of service to others,” Macron told the queen in an English-language video message.

The name of the long weekend’s first event, Trooping the Color, refers to a regimental flag, or “color,” that is trooped through the ranks. Britain’s annual tradition for the queen’s birthday is a ceremonial reenactment of the way battle flags were once shown to soldiers to make sure they would recognize a crucial rallying point if they became disoriented in combat.

The troops that take part come from the army’s Household Division, composed of the seven regiments that perform ceremonial duties for the queen. Their members are fully trained soldiers and often deployed overseas when not on ceremonial duty.

Each year a different unit has the honor of trooping its color. The 1st Battalion of the Irish Guards will have the spotlight during the Platinum Jubilee.

Thousands of people, some of whom camped overnight, lined the parade route—many of them sporting Union Jack flags, party hats or plastic tiaras.

Carly Martin, who caught a late-night bus from south London with her daughter, said she had come “to make memories.”

“You’re never going to see this again in your lifetime,” she said. “At least not in mine, maybe not in my daughter’s....

Seventy years—it is all I have ever known.”

The queen is expected to appear twice on the balcony of Buckingham Palace, but Prince Charles will play a key role during the event, taking the salute of passing soldiers on his mother’s behalf. Elizabeth has had trouble getting around of late, and her courtiers have been careful to keep make things as simple for her as possible.

The Duchess of Cornwall, The Duchess of Cambridge, The Earl and Countess of Wessex and their children, The Duke and Duchess of Gloucester and Vice Admiral Sir Tim Laurence are expected to travel in carriages to Horse Guards Parade, a ceremonial parade ground in St James’s Park.

The Duke and Duchess of Sussex will join other royals to watch the spectacle.

The couple has traveled from their home in California to take part in the celebrations.

A12 Friday, June 3, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Investigating SSS’s ₧843.9-B ‘net loss’

T

he Social Security System is a state-run social insurance agency that extends social security protection to Filipino workers in the private and informal sectors. Under the Social Security Act of 2018, the pension fund provides seven benefit programs: Sickness, maternity, unemployment, retirement, disability, death, and funeral benefits. Members can also avail themselves of various loan privileges.

Members’ contributions are considered the lifeblood of the SSS, accounting for about 80 percent of total agency revenues, while the remaining 20 percent comes from earnings generated from SSS investments. As of May 2021, SSS has about 40.52 million members. More than 30 million are employed members, while 3.36 million are self-employed, and 5.07 million are voluntary members.

A significant aspect of the pension fund’s operations is its ability to boost members’ benefits, which, in turn, depends on how well the SSS manages the four components of the agency’s finances, namely, contribution collections and investment income for the revenues side, and benefit payments and operating expenses for the expenditures side.

In 2021, SSS registered earnings of P28 billion from its operations, with contributions and investment income exceeding benefit payments and operating expenses. In its 2021 unaudited financial statement, its cash inflows of P262 billion surpassed its cash outflows of P234 billion. In the last six years, SSS recorded cumulative earnings of P202 billion, even with a recordbreaking P1.1 trillion benefit payments and P254 billion loan releases to its members and pensioners.

Last week, Sen. Francis Tolentino alarmed the pension fund’s 40 million members after he called for a Senate probe into the “massive net losses” in the finances of the Social Security System amounting to P843.9 billion. The reported huge net loss of the SSS prompted Tolentino to file Senate Resolution No. 1006, which urged the Senate committee on government corporations and public enterprises to investigate the state-run pension fund “to ensure its financial viability and capacity to carry out its fiduciary responsibilities to the general public.”

“The effect of the aforementioned reported losses should be scrutinized for the purpose of crafting laws and regulations that would provide further security to the agency’s long-term financial standing,” Tolentino said.

Social Security System President and CEO Michael G. Regino, however, clarified in media releases that the net loss of P843.9 billion shown in its unaudited financial statements for 2021 is a result of a change in accounting standard brought by Philippine Financial Reporting Standards (PFRS) 4. “We want to clarify that the increase in policy reserves is not actual cash that went out of the fund in 2021. These are simply estimates of the required reserves to fund future benefit claims,” Regino said.

“This increase in net loss from the previous year is due to the recognition of the Margin for Adverse Deviation [MfAD] in our policy reserves. MfAD serves as a buffer for conservatism, which we have considered in our financial statements beginning 2021,” Regino explained. “These future liabilities need to be recognized now as these provide us an accurate view of our long-term financial standing, which serves as our guide, as well as for the government in ensuring that we will be able to continuously serve our current and future members and their beneficiaries.” (Read, “SSS clarifies net loss in unaudited 2021 FS; pension fund gains P28B,” in the BusinessMirror, May 16, 2022).

Regino said the SSS is always open to dialogues with policymakers, which can be a platform to help the pension fund’s stakeholders understand the current accounting standard it follows for the reporting of its financial performance.

Members of Congress have the power to investigate issues that may require legislation in the future. Senator Tolentino may have suspected something is wrong when he saw the term “net loss” and the amount of “P843.9 billion” in the SSS 2021 unaudited financial statements. But, in the age of instant communication, a phone call, text message or e-mail would have sufficed to clarify the issue.

The senator’s call for a probe has unduly alarmed millions of SSS members, who started airing their fears on social media that the pension fund’s “huge losses” may prevent the SSS from providing social protection to its 40 million members; that their contributions are going down the drain. This is not the way to help the SSS expand membership and optimize members’ benefits.

Sustaining Team Philippines’ momentum Sonny M. Angara

Better Days

T

he 31st Southeast Asian Games held in Hanoi, Vietnam recently concluded with the Philippines almost securing a podium finish. We ranked fourth in the overall tally with 226 medals in total, behind host Vietnam (first), Thailand (second), and Indonesia (third). While this outing is three spots below and 161 medals fewer than our 1st place finish in the 2019 SEA Games, the latest result is the country’s best (as a non-host) since the 22nd SEA Games, also held in Hanoi almost two decades ago when we achieved the same 4th place finish.

Our medal haul was propelled by our athletes’ excellent performances in Athletics with a total of 26 medals (5 Gold, 7 Silver, 14 Bronze), Gymnastics with 14 medals (7 Gold, 4 Silver, and 3 Bronze), Dancesport (5 Gold, 5 Silver, and 2 Bronze) and Wrestling (7 Silver and 5 Bronze) both with 12 medals each.

Truly, our athletes deserve much praise. Their eagerness to succeed was so palpable that even before

the opening ceremonies, Francine Padios of the Pencak Silat team had already won a gold medal for the Women’s Artistic Single event.

The recent games were not short of record-breaking performances and the ends of decade-long medal droughts. For instance, EJ Obiena updated his SEA Games men’s pole vault record to 5.46 meters in just one take, while weightlifter Vanessa Sarno surpassed all SEA Games re-

Hit the ground running

Since 2005

BusinessMirror A broader look at today’s business

Dr. Alvin P. Ang

EAGLE WATCH

✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

S

ome restaurants and fast-food joints have recently announced unavailability or limited supplies of their products. Shortages in chicken oil, fries, flour, onions, and burger patties have been cited. These products are sourced overseas by these restaurants and are being severely affected by the global supply chain crunch.

In our ACERD economic briefings last year, we already pointed out that the pandemic is causing massive supply chain disruptions, as observed with many shipping companies.

Freight costs increased by almost 250 percent from May 2020 to its peak in January 2022. This happened when many containers got stuck at the beginning of the pandemic. The on-off initial restart of the world economy last year stranded both people and trade, affecting the movement of goods and services to some extent.

As the world economy opened almost full blast in the last three months, consumer demand has increased more than what supply can provide. Ports do not have enough labor and transport equipment to untangle the bottlenecks. That is only the logistical part. There is also the part of the production where goods are no longer produced in one country but depend on the contribution of

countries in the global supply chain.

So, the problem is a supply storm— increasing demand, stranded containers in ports with limited labor and transport, and limited transportation of components needed to complete production.

While this was already the case up to December 2021, the Philippines did not immediately experience any observable shortage in food and other consumer goods imports, as reflected in our still relatively lower inflation rate compared with developed economies. The impact of these supply chokes have started appearing in the US and UK as early as October 2021, when inflation jumped to more than 6 percent. Until today, it has remained elevated at 8 percent.

For countries heavily dependent on imported goods and inputs, these supply bottlenecks will exact a heavy toll on prices. These conditions have been worsened by the ongoing con-

cords in the women’s 71kg event. Jess Geriane also broke the national record when she finished the women’s 50-meter backstroke in only 29.38 seconds.

Chloe Isleta put an end to the gold medal drought in women’s swimming. The Philippine bowling team composed of Merwin Tan, Patrick Neil Nuqui, Ivan Dominic Malig, and Christian Dychangco similarly put a stop to the 11-year wait for a medal in bowling. So did the Philippine Women’s Football Team ending a 37-year dry spell, when they beat Myanmar and took home bronze.

Olympian Carlos Yulo delivered another master class performance in gymnastics after bagging a total of five gold and two silver medals—his total medal count in the latest SEA Games is equal to that of the previous edition but with more golds this time around. The tandem of Sean Mischa Aranar and Ana Leonila Nualla must also be commended after winning three gold medals in various events of Dancesport.

The story of Richard Gonzales, a 51-year-old Army personnel who competed in men’s table tennis,

also emerged as particularly inspirational. The Philippine Table Tennis Federation advised the veteran that he can serve as a playing coach for the team, but Gonzales was so determined to play at the top level that he outclassed much younger competitors and ended up winning a silver medal for the country.

It is only proper that these athletes are rewarded. This is why we sponsored in 2015 RA 10699, which increased the incentives for national athletes and coaches. Under the law, athletes who represented the country in the SEA Games are entitled to cash incentives ranging from P60,000 to P300,000 depending on their finish.

Their coaches shall be entitled to cash incentives equivalent to 50 percent of the amount given for gold, silver, and bronze medal winners. Moreover, those who surpass any Philippine record or ranking in any measurable international sports competition shall be given cash incentives, to be determined by the Philippine Sports Commission (PSC).

We filed another measure, Senate Bill No. 1225, to further increase these cash incentives granted to See “Angara,” A13

flict in Ukraine. Russia and Ukraine, combined, supply 30 percent of wheat and barley (essential ingredients for flour), 65 percent of sunflower seed oil, and 15 percent of corn globally. As the war drags on, shortages of these items will worsen because farmers are unable to plant. Hence, we can expect higher prices for wheat products until the rest of the year.

Key exports of Russia and Ukraine also include ammonia and potassium, comprising a third of global requirements. Both products are essential ingredients in fertilizers. Fertilizer prices have increased by more than 130 percent since last year. Even if the Philippines is not a significant wheat consumer, fertilizer is a major input to many of its agricultural products, including rice. In fact, the local price of fertilizer has been increasing even before the Russia-Ukraine war due to the supply chain issue and input price increases to produce the chemicals.

We have not even factored oil prices into the equation, which have also been pushed higher by the war. Recent sanctions and decisions of the EU against Russian oil will keep oil prices elevated.

As the new administration prepares to take over, it should know these facts better and have a clear direction on how to address the definite price pressures. Let us just focus on food supply and prices first.

More than half of the consumption of the ordinary Filipino is food. About 10.5 percent of our imports are food, food-related products, and inputs.

The supply challenges and elevated prices of global food will most likely continue for the rest of the year. We can get through the shortages in menu items in restaurants, but not in our home dinner tables. High food prices will hit the poor harder than the rest. High food prices squeeze earnings from farmers and fisherfolk, who are consumers themselves.

The pandemic palay output actually improved by 7 percent, from 4.3 MT in March 2020 to 4.6 MT in March 2022. The challenge is sustaining the increase in palay and other agricultural output so that we can cushion possible global shortages. As of May 31, 2022, fertilizer prices suddenly dropped by 30 percent because buyers, especially in Southeast Asia, did not bite the higher prices. Either way, this could affect agricultural output in the region, including the Philippines. We are facing an inevitable increase in food prices.

Thus, the new administration should hit the ground running to cushion or minimize further food price increases. The options are tight because subsidies are not possible due to financial constraints. Price controls may only exacerbate the situation. Whatever choice is taken, it is critical that a medium-term outlook for agricultural sustainability be the top priority of this administration.

Dr. Alvin P. Ang is the Chairperson of the Department of Economics at Ateneo de Manila University.

Opinion BusinessMirror

www.businessmirror.com.ph

Senator Migz Zubiri: The Comeback Kid

Love among/for the ruins Tito Genova Valiente

annotations

Manny F. Dooc

TELLTALES

O

N August 3, 2011, Senator Migz Zubiri ignominiously delivered a privilege speech on the floor of the Senate, which was covered by national TV, where he tendered his resignation from the Senate amidst the growing publicity about the alleged fraud and cheating committed in the 2007 senatorial election. Senatorial contender Koko Pimentel who lost by less than 20,000 votes lodged an electoral protest before the Senate Electoral Tribunal (SET) alleging that election operators manipulated the election results favoring Senator Migz who copped the 12th and last winning berth.

While Senator Migz strongly disputed it, he claimed that the ongoing Senate Electoral Tribunal’s (SET) investigation had taken its heavy toll on his family. He withdrew his participation in the SET proceedings, which eventually resulted to the proclamation of Senator Koko Pimentel as the winner, dislodging Senator Migz from the 12th position. Pimentel was leading after the revision and appreciation of the ballots and election documents in the contested areas although Zubiri’s counter-protest was still under process. In our political history, it’s the first time that an incumbent senator has resigned his post following an election protest, and many had heaped praise on Senator Migz for accepting the people’s verdict.

In 2013, Senator Migz tried to regain his Senate seat under the United Nationalist Alliance slate, but he only placed No. 14. In 2016, he ran again as an independent candidate and placed number 6, capturing some 16 million votes and he joined the Senate in the 17th Congress.

In the 14th Congress, Senator Migz served as the Senate Majority Leader, and a record 650 bills were passed during his stint. In the 17th Congress, he regained his Majority Leadership position after Senator Tito Sotto became the Senate President. His fellow senators recognized his worth as a lawmaker and as a consensus leader in the Upper Chamber.

In the recent election, he was reelected although he ran as an independent candidate but with the support of the UnityTeam and the political party of Senator Manny Pacquiao. He was originally part of the Robredo ticket but he was dropped shortly before the election after he openly campaigned for Presidentelect Bongbong Marcos. He’s one of the most prolific senators having authored/co-authored many important laws, which have greatly contributed to our national development. Some of the landmark legislation he crafted were the Bangsamoro Organic Law, Renewable Energy Act of 2008, Biofuels Act of 2006, Wildlife Conservation and Protection Act, Philippine Disaster Risk Management Act, Comprehensive Dangerous Drugs Act of 2002, The Rent Control Act of 2009, UP Charter Amendments, and many other significant legislation.

With the withdrawal of Senator Cynthia Villar from the Senate presidential race, Senator Migz has no opponent. He expressed gratitude to Senator Cynthia for her “support, graciousness and magnanimity,” which allowed him to form a supermajority. Senator Cynthia could have been a worthy adversary having topped the Senate race in the 2019 elections. Had she pursued and won the highest post in the Senate, she and former Senator Manny Villar would have held the distinct honor of being the only couple to occupy the Senate presidency. It’s a feat that would be hard to follow.

As he enters a new phase in his colorful political career as the head of our country’s highest legislative body, we can only wish Senator Migz to exercise his best judgment, his sound prudence and great wisdom to be able to discharge his duties suc-

cessfully. May he be guided by the wise counsel of Manuel L. Quezon, our first Senate President, who declared in his Inaugural Address on October 16, 1916: “The merit of our work will not be measurable by the quantity of laws we pass, but their quality. Nothing breeds more confusion in society than a constant change in legislation. To suffer the evils of an existing law is in many cases preferable to endeavoring to remedy these evils by a law passed in a haphazard way, without proper and careful consideration, because laws of this nature are productive of greater and perhaps more irremediable harm. Our work will be to build up and not tear down, and we shall not destroy the old until we are sure that the new is better.” Senator Migz needs all the support he can muster to bear the full weight of the enormous task placed upon him by his peers in the Senate.

When the Senate reorganizes on July 23, 2022, Senator Migz will have his full vindication when he gets formally elected as our 24th Senate President. From ignominy to glory—Senator Migz’s political odyssey is a triumph of hard work, excellent performance and determination. He did not only survive but has redeemed the respect of his colleagues and the trust of his countrymen. The Senate President wields tremendous power and he can greatly influence the legislative agenda of the President, and help chart the destiny of our nation.

The Senate President is the third highest among the most powerful officials in our government. He is the second in line in the order of succession to the presidency. Among others, he presides over the powerful Commission on Appointments and sits in the National Security Council. He is the presiding officer in impeachment cases involving all impeachable officials other than the president. It is, however, our people’s hope that during his watch the Senate, which is regarded as the bulwark of free speech and democratic ideals, shall remain robust and independent.

Since it was established in 2016, illustrious men and women have passed through its portals and dignified its plenary hall with their patriotism and intellectual prowess. We had been enthralled by the eloquence and sagacity of Claro M. Recto, Jose P. Laurel, Camilo Osias, Arturo Tolentino, Jovito Salonga, Lorenzo Tañada, Ninoy Aquino, Jose W. Diokno and others. The Senate has bred future vice presidents and presidents of our country. In fact, 11 out of our 16 Philippine presidents served in the Senate, but only two former Senate Presidents had been catapulted to the presidency—Quezon and Marcos, Sr. Presidents Emilio Aguinaldo, Ramon Magsaysay, Cory Aquino, Diosdado Macapagal and Rodrigo Duterte are not products of the Upper Chamber.

Senator Migz’s resignation from the Senate in 2011 could have been the end of a promising political career, but Senator Migz is not your ordinary public servant. He was comfortably elected twice to the Senate after that debacle. Senator Migz is our local comeback kid, and he may be destined for a higher role. Good luck, Your Honor!

T

here is a new issue creating a social and intellectual/cultural divide: the restoration of the La Loma Chapel, what was then considered an ancient church inside one of the oldest cemeteries in the country.

No one has an optimum memory of that structure. Perhaps, it is even safe to say that no one really cared when it was in its “old” state. But, the Diocese of Kalookan working with Escuela Taller de Filipinas Foundation, a leader in local built heritage conservation, embarked in June 2021 on the project of restoring the said church, in the process undertaking what is called preventive maintenance. The Escuela Taller proceeded to work on the church, with online posts updating those interested in built heritage structures about what was happening in La Loma, a site put up in 1884.

Reports were telling us how a great part of the structure was in a state of disrepair, meaning that no organization—church or civic—did any maintenance activity on the cemetery chapel.

This year, the product of that long, arduous labor, the details of which baffled and engaged artists and cultural workers, came out. The plant outgrowths on its roof are gone, the foundations strengthened, and the walls once more massive and sturdy, the chapel in the Campo Santo de La Loma promised to stand for us in the next hundreds of years or more. It has ceased to be aged; its facade is proud and youthful.

It was covered in new plaster and paint. It was a sight to behold, shrouded as it was now in yellow and white. “Yellow ochre,” according to some notes.

There were congratulations all over the Internet. I wanted to shout, “Bravo” but I stopped, for there were sighs and voices of despair and recriminations. “It should not have been touched at all.” “The colors ru-

ined the colors.” Some were specific, calling for “neutral colors,” to which I asked when are colors for churches “neutral.” Is a call for neutrality a call that we do not take sides? How can one be neutral when it comes to churches and built heritage? Can we be non-judgmental regarding hues?

“What a waste,” another observer loudly commented. What was wasted, the colors or the act of preserving?

“I like its old look,” finally became the most common conclusion.

Online, Escuela Taller expressed how it is used to such strong reactions. There were words from the group that were meant to enlighten everyone: the yellow hue was based on the residues discovered when the walls were chipped and examined. There was a basis for the decision therefore.

But no one was listening. Or, at least those who were unhappy with the death of the ruins were not ready for any explanation.

The fact is our country has a psychosis of ruins. We are devastated with ruins and, when ruins are gone, we feel we, too, have disappeared. Sadness and obsession, happiness and hubris characterize our negotiated love of ruins. It is a fascination with the destruction that seems to happen before us. This has something to do with

Friday, June 3, 2022 A13

our problem with a past that is invented and reinvented, delimited or banished. For some reason, our past always ends with the Spanish occupation. The colonized past is remembered for its beauty, an antiquarian’s dream that reconnects, or so we suppose, not only with Spain but the entire Europe. Colonization for all the abuses and cruelty it imposes on a people is our only version of civilization. Outside of colonial history, we refuse or are illequipped to examine any history.

When churches are repainted, we are enraged because we sense our God has been tainted by a color that is not neutral. But how does one tint the face of the Almighty? Is S/He

only alive and almighty with decaying bricks and stones covered with moss? Is S/He more potent behind the shrine that will soon come down with time?

I would rather have the old church.

That desire reeks of irony. It hides the dynamism that is at the core of an active faith. It subsists on the romance of a false memory of the glory of Catholicism as having molded us into new beings. It is an imaginary that sets aside the view of the foreign faith having been introduced to suppress a land that had its own belief system. It affirms the true power of

colonization, which is the banishment of the collective unconscious in exchange for an enforced, conscious effort to embrace the new life. The replacement is never peaceful but built within the core of conquest and occupation and ruins.

This is not the first time we have a vicious exchange of ideas over ruins. Online, some fresh voices affirm how we are all experts on heritage whenever a building is restored or renovated. And yet the same voices are muted when we talk of how we need to decolonize our past in order to create a present that speaks to us as humans free to chart a new destiny, and not I’d rather have the ruins.

In a book, Discourses of the Vanishing. Modernity, Phantasm, Japan, Marilyn Ivy documents Japan’s fear of the impact of modernization, which is the disappearance of those rites and sites that contain the identity of Japaneseness. The nation undertook the preservation of practices and folk narratives as sites of “authenticity.” This mindset parallels our obsession with our own notion of the past, which is located within colonial discourse.

Even as we engage in this debate, the incoming or presumptive Presidential Communications Operations Office chief is asking us to look into other ruins, those brought about by martial rule. She says: “I think everything is open to debate, even scientific theories and established facts are always open to question… We don’t have to come to a conclusion.” She closes this assertion with another plea: “Let us not limit discourse.”

Here are structures of memories about to be renovated, re-gilded.

What to do? This time, I am saying: Give me the ruins of Martial Law. Look at them. Remember them. Do not change them. Begin our discourse from there.

E-mail: titovaliente@yahoo.com

Germany risks reprising sick man status on Russia, China ties

By Jana Randow Bloomberg Opinion

G

ermany’s economy might again become the “sick man of Europe,” reprising a role from two decades ago as policies that kept factories humming turn sour.

After years of pushing exports to China and building up energy links to Russia, Europe’s largest economy faces a poisonous cocktail of risks.

Its heavy reliance on manufacturing makes it more vulnerable than European peers to war-related disruptions in Russian energy supplies and bottlenecks in trade. The upshot is risk of contraction and even higher prices squeezing unsettled consumers.

“Germany is in a disastrous economic situation,” said Aline Schuiling, senior economist at ABN Amro.

“Concerns about its outlook are well justified.”

Schuiling predicts Germany’s output will shrink in the second quarter.

While economists at Bank of America Merrill Lynch and Banco Santander are among those sharing her opinion, the Bloomberg consensus is still for growth of 0.4 percent.

The European Commission ex-

Angara. . .

continued from A12

national athletes and coaches. We intend to refile and push for this legislation in the upcoming 19th Congress with the hopes of helping our athletes stay motivated and sustain their momentum.

Of course, there are areas for improvement that must not be overlooked. While we are confident

pects only Estonia to post slower economic growth than Germany this year—due to similar impacts but a closer proximity to Russia -- while inflation in both countries is expected to be stronger than the 19-nation euro-area average.

The strain is becoming evident at the heart of the Germany economy.

Some 77 percent of manufacturers are complaining that material and equipment shortages are hurting business —more than anywhere else in Europe. The country’s machine makers slashed their forecast for production growth to just 1 perccent from 4 percent.

On top of the industrial headaches, the summer travel season is likely to siphon off cash as German consumers spend money in sunny Mediterranean countries after two years of pandemic. Retailers may have already started feeling the pinch with sales dropping the most in a year in April.

Germany’s struggles stem from ignoring geopolitical risks to strengthen its manufacturing base, which -along with sweeping labor reforms —helped pull the country out of a slump in the early 2000s. Both for-

mer Chancellor Angela Merkel and her predecessor Gerhard Schroeder intensified the country’s reliance on cheap energy from Russia, while encouraging companies to do business in China.

“That made Germany the best performing economy in Europe, but now there is a heavy price to pay,” billionaire investor George Soros said last week at the World Economic Forum.

Chancellor Olaf Scholz seemed to acknowledge the concerns, saying “some people were a bit careless in the past.” Germany now needs to urgently diversify supply chains and export markets, he said at the event in Davos, Switzerland.

“Many companies have to face it,” Scholz said. “They often violated what they’d learned at the start of business school: that you don’t to put all your eggs in one basket.”

Since taking office, Scholz’s first trip to Asia was to Japan, while he also hosted Indian Prime Minister Narendra Modi in Berlin. He hasn’t yet visited China and has stepped up criticism of human-rights abuses in the country. His government has also held talks with Qatar as part of its efforts to replace Russian gas.

Despite the clouds, there are some hopeful signs. Easing pandemic lockdowns in Beijing and Shanghai could help buoy demand for German goods and clear some of the supply-chain bottlenecks hampering the country’s manufacturers.

Automakers including Daimler Truck Holding AG, the world’s largest maker of commercial vehicles, expect an ongoing chip shortage to be less of an issue this quarter and significantly improve in the second half.

Bundesbank President Joachim Nagel argues that the German economy is holding up, and that output could still increase 2 percent this year.

The consumer side might be less resilient as inflation continues to surge. Households are facing additional expenses on food of more than 250 euros ($268) a person this year, according to an Allianz SE study, which predicts Germany will see faster inflation than its European peers.

With the cost of living rising, there’s less available for discretionary spending. Revenue growth at online clothing retailer Zalando SE is likely to stay flat until the second half, Bloomberg Intelligence predicts. With assistance from Michael Nienaber

that the Philippine Men’s Basketball team will immediately bounce back from their runner-up finish, the end to our 33-year dominance in the sport was rightly flagged as a “wakeup call” by sports officials. We must also look into why the Philippine bodybuilding team was barred from joining the SEA Games due to the team’s failure to submit a doping test result on time and the alleged lack of accreditation.

Issues like these can be better

resolved once the National Sports Training Center is fully operational. We authored the Center’s enabling law, RA 11214, to create a world-class venue where our athletes can hone their skills and do so through a science-based approach.

All of our athletes and coaches deserve nothing less, especially those competing overseas against foreign athletes who have been primed using state-of-art facilities in their respective countries. It is crucial

for the incoming administration to build on existing sports development programs and ramp up support to sustain the winning ways of Filipino athletes.

Senator Sonny Angara has been in public service for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored and sponsored more than 250 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

A14 Friday, June 3, 2022

Razon’s infra arm acquiring stake 2 PHARMALLY EXECS DETAINED OVER SENATE PROBE SET FREE in Malampaya project from Udenna T

P

By Lenie Lectura

@llectura

RIME Infra Holdings, Inc., led by Enrique Razon Jr., is acquiring a controlling stake in the Malampaya deep-water gas-topower project from Davao businessman Dennis Uy’s Udenna Corporation.

A statement from the infrastructure arm of the Razon group said Thursday that the acquisition process has kicked off and will close subject to the consent of various parties including the Department of Energy (DOE) and the Philippine National Oil Company Exploration Corporation (PNOC-EC). The transaction, it added, will also go through other regulatory and lenders’ approvals within that period.

PNOC-EC has a 10-percent stake in the Malampaya gas project, which has been providing about 20 percent of the country’s power needs.

Uy’s UC38LLC has a 45-percent stake in the gas project. UC38 bought its Malampaya interest from Chevron Malampaya.

The remaining 45 percent is held

by Udenna Corp.’s Malampaya Energy XP Pte. Ltd. Malampaya operator Shell Philippines Exploration B.V. (SPEX) earlier sold its stake to Malampaya Energy. PNOC–EC, however, withheld its consent and the

DOE has yet to approve the deal.

Uy’s combined 90-percent share in the Malampaya gas field is valued at roughly $1 billion. Prime Infra, however, did not say how many shares it is buying.

When sought for comment, SPEX said the deal with Malampaya Energy is still a go as of Thursday. “The SPEX sale to Malampaya Energy remains active. We cannot comment on this reported Razon-Uy transaction because Shell is not directly involved,” an official said.

Razon said his group is ready to invest and sustain the development and production of domestic gas as long as the terms of the operating license and the natural resources permit.

The contact to operate the gas field by the Malampaya consortium will expire in 2024. Without DOE’s approval to extend the contract, the consortium could not drill for new wells. As such, Prime Infra stressed that the transition of the operations of Malampaya is critically urgent

amid depleting gas. “Prime Infra and Udenna, as the new operators taking over from Shell Philippines, will need to immediately plan for the expansion to ensure the continuity of the production as long as the reserves support it,” the company said.

Prime Infra’s entry into the natural gas industry, it added, aligns with its purpose to create better lives and resilient economies through critical infrastructure coupled by its aspiration to help its customers transition to cleaner energy resources to fuel the economic growth of the Philippines.

Critical transition fuel

“NATURAL gas is a critical transition fuel and the modern, state-of-the-art infrastructure built to harness this valuable transition fuel attracted us to pursue this deal—all aspects of the project ticks off our environmental, social, and governance (ESG) check list that will allow us to contribute more to the country’s transition from expensive and volatile coal and imported fuel prices to affordable cleaner and domestic energy resources like natural gas,” said Prime Infra Chairman Enrique K. Razon, Jr. For his part, Uy said Udenna is optimistic about the participation of Razon Group in Malampaya.“We look forward to this opportunity to partner with Prime Infrastructure and PNOC-EC, as we explore more ways to fulfill our common vision to make Malampaya sustain its capabil-

ity to meet the urgent energy security need of the Philippines,” said Udenna Corp. Chairman and CEO Dennis Uy. The chairman on Senate Energy Committee, meanwhile, said the sale of Udenna’s Malampaya shares to Razon is “ultimate evidence that Udenna is not financially capable of running these assets.”

“Whoever vies for it should follow the law and qualify the criteria: financial capability, technical capability, and legal aspect. All three should be complied. I don’t know if Prime Infra is qualified or not, but the mere fact they are subjecting themselves to evaluation of government is the right step. It gives us comfort that they themselves want to be evaluated,” said Win Gatchalian when sought for comment.

The senator commended Prime Infra for abiding by the law, specifically PD87 and DOE DC 2007, when it declared that the deal with Udenna is still subject to government approvals.

“That was the issue in the past government. So, I want to commend Prime Infra because these are wellestablished laws and the jurisprudence will tell us that these laws have been followed in the past.

This is precisely what we are trying to avoid, which is flip-flopping and uncertainty. The law was really designed to create a stable environment in the energy sector. I am not after the personality. I am after the capability. Flipping of asset, short-term flipping, will just create uncertainty,” said Gatchalian.

WO officials of Pharmally Pharmaceutical Corporation, detained for months at Pasay City jail for refusal to cooperate with Senate probers on the investigation of the multibillion-peso pandemic supplies fiasco, were released on Thursday morning.

Mohit Dargani and Linconn Ong walked out free men, and continued to insist on their innocence, despite a scathing draft committee report by Senate Blue Ribbon chairman Sen. Richard Gordon and signed by nine senators, tagging them.

Their lawyer Ferdie Topacio told TV reporters Senator Gordon had, as the investigation progressed, simply been resorting to “Marites”—slang for gossip—and cited as example the senator’s reference to the two high-flying executives’ luxury cars.

Businessmen making money from their business is not a crime, and whatever they do with their profits is not the senators’ business, Topacio said.

Meanwhile, Gordon said that even if the draft report was not tackled in plenary before the Senate session adjourned on Wednesday night, it may still be used as basis for the filing of criminal charges against those involved in misusing some P11

billion in pandemic funds for questionable supply contracts.

“Our investigations,” Gordon said in a privilege speech before the 18th Senate adjourned, “revealed criminal fraud, waste, and abuse in the use of public funds through a grand conspiracy among public officials and private persons such as Pharmally Pharmaceutical Corporation and its officers and employees, Chinese entrepreneurs with alleged ties to heinous crimes, including Huang Tzu Yen (Singaporean), Yang Hong Ming or “Michael Yang” and Lin Weixiong (Chinese); sworn officials of the Procurement Service-Department of Budget and Management (PS-DBM), such as its former Officer-in-Charge Undersecretary Lloyd Christopher Lao; Atty. Warren Rex Liong (then at the PS-DBM but now overall Deputy Ombudsman).

And, he added, “some of the highest officials in the government who sought the obstruction of the pursuit of justice and truth.”

Earlier on Monday, in pressing—in vain—to get his colleagues to send the committee report to plenary, Gordon underscored the serious crimes unearthed by the investigation.

Continued on A3

PHL behind Asean peers in meeting SDGs, says report

By Cai U. Ordinario @caiordinario

T

HE Philippines has fallen behind its Asean peers in terms of achieving the 17 Sustainable Development Goals (SDGs), according to the latest report from the Sustainable Development Solutions Network (SDSN).

Based on the SDG Index for this year, the Philippines ranked 95th out of 160 economies globally. With an overall score of 66.6 out of 100, the country was even bumped off from Asean-5 economies.

In the Asean-5, the leader is Thailand, ranked 44th with a score of 74.1; followed by Vietnam at 55th with a score of 72.8 out of 100; Singapore, 60th, 71.7 out of 100; Malaysia, 72nd, 70.4 out of 100; and Indonesia, 82, 69.2 out of 100.

“Fifty years after the first UN Conference on the human environment in Stockholm in 1972, the bedrock SDG principles of social inclusion, clean energy, responsible consumption, and universal access to public services are needed more than ever to respond to the major challenges of our time,” Prof. Jeffrey D. Sachs, President of the SDSN and first author of the report, said in a statement.

“Poor and vulnerable countries are being hit particularly hard by multiple health, geopolitical and climate crises and their spillovers.

To restore and accelerate SDG progress, we need global cooperation to end the pandemic, negotiate an end to the war in Ukraine, and secure the financing needed to achieve the SDGs,” he added.

Based on the data, the Philippines is encountering more challenges in achieving seven goals, namely, SDG 2 on ending hunger; SDG 3 on universal health; and SDG 8 on decent work and economic growth.

The list includes SDG 9 on industry and infrastructure; SDG 10 on reducing inequalities; SDG 14 on life below water; SDG 15 on life on land; and SDG 16 on peace, justice, and institutions.

The country is still facing significant challenges in six goals, namely SDG 1 on eradicating poverty; SDG 5 on gender equality; SDG 6 on clean water and sanitation; SDG 7 on affordable clean energy; SDG 11 on sustainable cities and communities; and SDG 17 on partnerships for the goals.

The report also noted that challenges remain for the country’s attainment of SDG 4 on quality education and SDG 13 on climate action. The SDSN said the country has achieved SDG 12 on responsible consumption.

In terms of progress, the country is stagnating in achieving four goals, namely SDG 5 on gender equality; SDG 11 on sustainable cities and communities; SDG 13 on climate action; and SDG 17 on partnerships for the goals.

There is, however, a moderate increase in progress in terms of achieving 10 goals, namely SDG 1 on eradicating poverty; SDG 2 on ending hunger; SDG 3 on universal health; SDG 4 on quality education; and SDG 7 on affordable clean energy.

The list includes SDG 8 on decent

work and economic growth; SDG 9 on industry and infrastructure; SDG 10 on reducing inequalities; SDG 14 on life below water; SDG 16 on peace, justice, and institutions.

The country only remains on track to achieve SDG 6 on clean water and sanitation; SDG 12 on responsible consumption; and SDG 13 on climate action.

Global SDG effort

THE Philippines is not alone in its challenges of achieving the SDGs. The SDSN said that for the second year in a row, the world has been deemed not on track to meet the global agenda.

The SDSN said multiple and simultaneous health, climate, biodiversity, geopolitical and military crises are major setbacks for sustainable development globally.

As a result, the network said the SDG Index world average has slightly decreased in 2021 for the second year in a row, largely due to the impact of the pandemic on SDG 1 and SDG 8 as well as poor performance on SDGs 11 to 15.

Continued on A3

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, June 3, 2022

Vista Land refinances debt with ₧2-B notes issuance

V

By VG Cabuag

@villygc

illar-led property developer Vista Land and Lifescapes Inc. on Thursday said it raised P2 billion from the issuance of additional five-year corporate notes, which it will use to refinance the existing or maturing obligations of the group.

The corporate notes due 2027 carry a fixed interest rate of 7.2359 percent, the company said in its disclosure.

The notes were issued to Union Bank of the Philippines pursuant

to the corporate notes facility agreement with Vista Land as issuer.

SB Capital Investment Corp. was picked as lead arranger and bookrunner, Security Bank Corp.-Trust and Asset Management Group as facility

agent and registrar and Vista Land’s units Brittany Corp., Crown Asia Properties Inc., Camella Homes Inc., Communities Philippines Inc., Vista Residences Inc., and Vistamalls Inc. as subsidiary guarantors.

Vista Land reported a 12-percent increase in net income to P2.36 billion for the first quarter from P2.1 billion last year.

Revenue from real estate sales reached P4.83 billion for the period, down by 23 percent from P6.25 billion last year due to the decrease in the overall completion rate of sold inventories of all its business units as a result of the surge in the Covid-19 infection that slowed down construction activities.

The company uses the percentage of completion method of revenue recognition in which revenue is rec-

ognized depending on the stages of development of the properties.

Rental income increased by 29 percent to P2.59 billion for the period from P2 billion a year ago.

The increase was due to higher occupancy and the increase in rates for the period, including the upside from the higher sales of variable rental based tenants.

Income from parking, hotel, forfeitures, mall administrative and processing fees and others increased by 37 percent to P448 million in the first quarter from last year’s P327 million. The company attributed this to the 22-percent increase in income from mall administrative and processing fees to P352 million and the increase in parking fees to P25 million from just P1 million a year ago.

LRWC widens net loss in Jan-March G a ming f ir m Leisure and Resorts World Corp.

(LRWC) said its net loss in the first quarter doubled to P223.07 million from P110.03 million a year ago.

The company attributed this to the significant decrease in revenue from its online segment and the increase in direct cost for the minimum guarantee fee paid to regulator Philippine Amusement and Gaming Corp. (PAGCOR) for its new online traditional bingo business.

The company said it also had to increase its manpower due to the re-opening of sites in both its casino and retail gambling segments.

Overall operating expenses

rose by 9 percent to P177.27 million from last year’s P162.9 million due to the increase in manpower and re-opening expenses.

Gross gaming revenues slid 1 percent to P929.01 million from last year’s P942.35 million.

LRWC said its gross profit also was down 70 percent for the period to P26.21 million from the previous P176.2 million.

“This was pulled down by the significant decline from online segment and increase on PAGCOR share from new retail business online traditional bingo,” the company said in its report.

Casino revenues rose 10 percent to P66.34 million from last year’s P59.93 million due to the increase in operating capacity and its operating hours, while its network and license revenues fell 46 percent to P94.37 million from the previous P174.17 million due to the non-renewal of licensees from Cagayan Economic Zone Authority, termination of locators either due to change in business locations or it discontinued its operations.

The company, however, said it is optimistic about its performance for this year.

“As the market recovers gradually from the pandemic, the company is also making rigorous efforts to break through the challenges. With the launching of the company’s newest product, BingoPlus, LRWC is positive for a better financial outlook in 2022.”

The company said it has been giving away prizes since its soft launch five months ago.

A s of end-May, LRWC has awarded a total of 96 bingo winners and 14 jackpot winners for a total of P161 million accumulated cash prizes, the company said. VG Cabuag

Cebu Pacific Filinvest Land CSO named new president beefs up F international operations

B

UDGET carrier Cebu Pacific said on Thursday it is beefing up its international operations, following the easing of pandemic-related restrictions for leisure travelers.

Cebu Pacific said it has started operating five weekly flights between Manila and Bangkok; three weekly flights between Manila and Kuala Lumpur; and twice weekly flights between Manila and Hanoi.

The carrier has also started its four weekly flights between Manila and Ho Chi Minh; three weekly flights between Manila and Osaka; and daily flights to Seoul from Manila.

Flights to Nagoya have also been increased to five weekly flights.

Starting July 1, Cebu Pacific will also double its Manila-Singapore route to twice daily, and will resume its flights to Sydney next month.

From its hub in Cebu, the Gokongwei-led carrier will resume its Cebu-Seoul operations starting July 3, operating two flights per week.

“We are happy to continuously see green shoots related to international travel as more countries open their borders, while others such as Bangkok, Malaysia, Singapore, and Vietnam completely dropped predeparture Covid-19 tests for fully vaccinated individuals,” Cebu Pacific Chief Commercial Officer Xander Lao said in a statement. Lorenz S. Marasigan

ilinvest Development Corp. (FDC) President and CEO Josephine Gotianun Yap pass on the reins of leadership for its real estate subsidiary to current Chief Strategy Officer (CSO) Tristan Las Marias, with the announcement of his ascension as president of Filinvest Land.

“Developing and nurturing a deep leadership bench has always been our priority here at the Filinvest group. We recognize that it is a critical and strategic component in ensuring that we continue to serve the needs of our customers, employees, shareholders, and other stakeholders.

Tristan Las Marias has played a pivotal role in strengthening our property segment and has made valuable contributions in its geographic expansion to 12 new areas around the country. He shares our same vision and has been instrumental in Filinvest Land’s continued commitment to serve the underserved markets, particularly the affordable and middle-market segments,” said Josephine Gotianun Yap. Josephine Gotianun Yap retains her position as Filinvest Land’s Chief Executive Officer while concurrently serving as President and CEO of FDC, one of the country’s largest conglomerates with interests in real estate, banking, power and utilities, hospitality, and infrastructure.

“Filinvest Land’s business recovery is in part thanks to the company’s agile business continuity program during the height of the pandemic and the accelerated transformation towards digitization. We also endeavored to support the communities we are in through relief and community CSR programs through Pusong Filinvest.

These initiatives were ably helmed by Tristan Las Marias together with our C-suite officers and executives. As a result, Filinvest Land’s residential revenues grew by 14 percent in 2021 vs 2020 to Php 12 billion. We are grateful for his brand of leadership. I look forward to working with him in my capacity

Tristan Las Marias

as Chief Executive Officer of Filinvest Land to further bolster our real estate segment,” added Gotianun Yap. The real estate developer shared that Las Marias was behind Filinvest Land’s stronghold in Visayas and Mindanao where residential sales increased by over a compounded annual growth rate of 30 percent over the course of 15 years under his guidance as Business Group Head. The company also shared that Las Marias was instrumental in the success of Filinvest Land’s various Public-Private Partnership projects with the government including the 50-hectare City di Mare township in South Road Properties, one of the company’s landmark projects.

“I look forward to continuing working with our talented team in Filinvest Land and the other business leaders of the Filinvest group. I am fully committed to continuing our legacy of building the Filipino dream for families here and overseas. We shall propel forward towards a more sustainable and green future, past the ill-effects of the pandemic, and serve our customers, employees, business partners, shareholders, and all our stakeholders,” said Tristan Las Marias, Filinvest Land President, and Chief Strategy Officer.

B1

San Miguel unit to issue bonds

Photo shows SMC Global Power Holdings Corp.'s Ilijan plant. From www.smcglobalpower.com.ph

By Lenie Lectura @llectura

S

MC Global Power Holdings Corp. is looking at issuing P30 billion worth of bonds, with an oversubscription of up to P10 billion.

The amount represents the first tranche of the company’s three-year shelf registration program amounting to P60 billion.

Philippine Rating Services Corp.

(PhilRatings) has assigned an issue credit rating of PRS Aaa, with a stable outlook, for SMC Global’s bond issuance.

PRS Aaa is the highest credit rating on PhilRatings’ long-term issue credit rating scale. Obligations rated PRS Aaa are of the highest quality with minimal credit risk. Likewise, this represents the obligor’s capacity to meet its financial commitment on the obligation as extremely strong.

PhilRatings identified SMC Global Power’s key strengths. These include its leading market position, with a solid platform for expansion; strong parent company support; stability of earnings and substantial cash flows,

albeit declining margins; and its conservative capital structure.

SMC Global Power is one of the country’s largest power companies, controlling 4,734 megawatts of committed capacity as of end-March this year.

Its combined installed capacity accounts for about 19 percent of the national grid, 26 percent of the Luzon grid and 7 percent of the Mindanao grid.

SMC Global Power, through its wholly-owned subsidiaries, serves as the Independent Power Producer Administrator for the Sual, Ilijan and San Roque power plants.

Part of its portfolio also include the 218MW Angat Hydroelectric Power Plant in Bulacan; the 600 MW greenfield power plant in Limay; 300MW greenfield power plant in Malita, Davao Occidental; 1,035.73MW Masinloc Power Generating Facility in Masinloc, Zambales; the 15 MW multi-fuel peaking power plant in Tagum City, Davao del Norte; and 20MW battery energy storage system in Kabankalan, Negros Occidental.

B2

Companies BusinessMirror

Friday, June 3, 2022

Seaoil to build oil depot in Zamboanga ecozone

S

By Lenie Lectura

@llectura

EAOIL Philippines is investing about P740 million to put up a terminal in the Zamboanga Economic Zone.

Seaoil said it has partnered with Zamboanga Economic Zone to build a bulk terminal, with a capacity to store 18 million liters of fuel. The depot is also capable of handling imported petroleum products.

The company said it is undertaking the project in partnership with the Zamboanga Economic Zone and Freeport Authority (ZFA), cementing a 50-year agreement with the ecozone to create development projects and activities for terminal

and jetty operations.

The total leased area amounts to 2.12 hectares, with an option to further expand. The terminal and jetty development is set to be completed by 2023, and operations are projected to begin in the fourth quarter of the same year.

“This partnership with ZFA is much more than a business decision for us at Seaoil. By opening a terminal here in Zamboanga City, we can make our quality products more

accessible to retail customers and commercial industries in the area.

As we expand our retail footprint in Southern Mindanao, more fuel consumers from Zamboanga, Jolo, Sulu, and Tawi-tawi, among others, can experience how Seaoil takes care of its customers through innovations such as the PriceLOCQ mobile app, which protects users from price hikes by enabling them to buy and store Seaoil fuels for later use while prices are lower,” said Stephen Yu, Seaoil President for Commercial Business and COO. He added that the construction and operation of the facility will also provide more jobs and create more economic activities in the local community. The joint effort brings over 300 jobs in construction and operations, 90 percent of which will come from the local communities of Zamboanga City.

“We welcome this partnership with open arms as this is an excellent opportunity to pump more economic activity into the city.

We also look forward to the jobs this terminal will bring to our locals,” said ZFA Chairman Raul Regondola.

Seaoil has over 650 branches nationwide with more being built this year to meet its target of having 1,000 branches in 2023.

In 2020, the company introduced the fuel-saving app, PriceLOCQ, which currently has more than 200,000 active users.

Last year, it launched PriceLOCQ for Business to also offer the unique price-locking feature to B2B customers. It also introduced its own branded service center, LubeServ, which provides automotive repairs and lubricant services using Seaoil products.

Nestlé PHL reaffirms support for Filipino parents

R

ecognizing the key role of parents in shaping society, Nestlé Philippines reaffirms its commitment to support new parents in the country as they face both the joy and challenges of childrearing, in celebration of the United Nations Global Day of Parents.

From its beginnings more than 150 years ago in Switzerland, Nestlé has sought to help parents in raising their children.

The company’s global Nestlé Parenting Initiative aims to support parents during the first 1,000 days of their child’s life when the foundations for lifelong development, growth and health are created.

Under the initiative, Nestlé commissioned the Parenting Index in 2021, a first-of-its-kind study into parenting experiences in 16 countries including the Philippines, that for the first time identified factors impacting on parenting across the world.

According to the study, in the Philippines, societal and internal pressure comes from a traditional, collectivist culture, strong family ties, and the demands of balancing childcare and work to help provide and care for the family.

Many Filipino parents hold highly traditional values and parenting attitudes. They rely heavily on what they recall from their own childhood or on advice from their parents or older relatives. Filipino parents are likely to live with extended families. Close contact with older family members ensures the preservation of tradition, family values, respect and obedience to elders, and adherence to habits and practices of previous generations while getting help in bringing up a child. Receiving advice, opin-

ions and instructions of relatives and feeling affected or pressured by this is typical, with 42 percent of Filipino parents saying this is what they experience.

Parents in the Philippines also feel low levels of financial resilience, with financial constraints further impacted by the country’s economic situation. Most Filipino moms tend to continue working after giving birth in order to help provide for the family and keep them afloat.

Moms in this situation fear appearing neglectful, as they struggle to manage their time and address the daily demands of juggling work and taking care of their child.

Young parents often feel guilty that they lack “expert parenting skills.” Much of the guilt has to do with their own high expectations and assumptions about what it should feel like to be a parent.

In some cases, new parents may be measuring themselves against their own childhoods. Good or bad, these memories can conjure up deep feelings of guilt and inadequacy.

Celebrating the Global Day of Parents, Nestlé PH organized a presentation for its employees who are new parents titled “Changing Paradigms: Celebrating Parenthood and the “PersonOf-The-Parent” by Rizason “Riza” Go Tian-Ng. She is a clinical psychologist, an advocate of healthy parenting and family development with an active clinical practice at the Ateneo Bulatao Center for Psychological Services, a member of the Psychological Association of the Philippines, and a part-time faculty member of the Psychology Department of the Ateneo de Manila University.

mutual funds

June 2, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

216.5

1.3%

-6.12%

-4.72%

-7.12%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4183

11.64%

-4.23%

-2.65%

-14.78%

2.4%

-9.91%

-7.27%

-7.9%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7272 -3.03%

-8.04% n.a.

-3.87%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6701 -3.79%

-8.29% n.a.

-13.08%

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

3.75%

-3.68%

-2.43%

-6.34%

0.7228

7.54%

-5.97%

-5.39%

-13.82% n.a.

-16.51%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.982

4.8539

First Metro Save and Learn Philippine Index Fund, Inc. -a MBG Equity Investment Fund, Inc. -a

78.84

-16.49%

PAMI Equity Index Fund, Inc. -a

44.3785

1.61%

-4.99%

-3.34%

Philam Strategic Growth Fund, Inc. -a

464.08

0.95%

-4.85%

-3.34%

-7.31%

Philequity Dividend Yield Fund, Inc. -a

1.3131

17.98%

-0.02%

-0.02%

-3.19%

Philequity Fund, Inc. -a

34.0033

3.88%

-4.14%

-2.21%

-7.08%

0.875

2.72%

-5.52% n.a.

-7.05%

Philequity PSE Index Fund Inc. -a

4.5865

2.49%

-4.37%

-7.55%

Philippine Stock Index Fund Corp. -a

765.15

2.17%

-4.39%

-2.77%

-7.65%

0.688

1.99%

-9.53%

-5.48%

-8.58%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4586

1.95%

-6.95%

-4.03%

-8.39%

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

0.8711

1.82%

-4.7%

-3.02%

United Fund, Inc. -a

1.78%

-4.9%

-2.03%

-7.02%

Philequity MSCI Philippine Index Fund, Inc. -a

Soldivo Strategic Growth Fund, Inc. -a

3.196

-2.74%

-7.72%

-7.79%

-7.77%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.0982

Philippine Stock Index Fund Corp. -a

932.59 n.a. n.a. n.a. n.a.

6.31% n.a. n.a.

-5.55%

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

103.1497

2.63%

-4.18%

-2.37%

-7.47%

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

$0.968

Sun Life Prosperity World Voyager Fund, Inc. -a $1.5681

-23.85%

0.63%

-0.18%

-14.07%

-11.04%

8.12%

6.29%

-15.07%

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

1.5687

-4.6%

-2.92%

-2.58%

-7.29%

ATRAM Philippine Balanced Fund, Inc. -a

2.1476

-1.49%

-2.25%

-2.01%

-5.87%

1.65%

-0.66%

-0.34%

-4.26%

First Metro Save and Learn Balanced Fund Inc. -a 2.5764

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1997

5.22% n.a. n.a.

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

1.9262

0.07%

0.49%

0.14%

-4.49%

PAMI Horizon Fund, Inc. -a

3.5436

-1.65%

-1.21%

-1.15%

-5.88%

Philam Fund, Inc. -a

15.87

-1.72%

-1.44%

-1.21%

-5.79%

Solidaritas Fund, Inc. -a

2.0239

0.41%

-1.79%

-1.23%

-4.6%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4162 -0.28%

-3.84%

-2.06%

-6.33%

-3.1%

-1.54%

-6.26%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.8945

5.01%

-4.45%

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

0.9185

-4.96%

-2.81% n.a.

-7.2%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8602

-2.23%

-4.8% n.a.

-8.93%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8504

-1.64%

-5.09% n.a.

-8.94%

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

$0.03422

-9.92%

-2.28%

-0.79%

-9.8%

$0.9737

-15.35%

0.95%

0.24%

-8.75%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1699 -10.82%

4.79%

4.11%

-13.17%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0574 -11.08%

0.57%

0.95%

-11.78%

PAMI Asia Balanced Fund, Inc. -b

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

372.27

0.25%

2.17%

2.26%

1.889

-1.39%

-0.21%

0.02%

0.23%

Cocolife Fixed Income Fund, Inc. -a

3.2287

0.11%

2.05%

3.36%

-0.47%

Ekklesia Mutual Fund Inc. -a

2.1802

-3.29%

0.18%

0.77%

-3.17%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4109 -0.95%

1.89%

1.72%

-0.62% -4.17%

ATRAM Corporate Bond Fund, Inc. -a

-0.54%

Philam Bond Fund, Inc. -a

4.2124

-6.03%

1.14%

0.71%

Philam Managed Income Fund, Inc. -a

1.3099

-1.12%

2.84%

2.66%

-0.7%

Philequity Peso Bond Fund, Inc. -a

3.8685

-2.54%

2.1%

2.19%

-2.45%

Soldivo Bond Fund, Inc. -a

1.0065

-1.83%

2.82%

1.67%

-2.11%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1376

-2%

2.51%

2.71%

-1.56%

-2.68%

1.67%

2.02%

-1.88%

Sun Life Prosperity GS Fund, Inc. -a

1.698

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

$482.74

-0.42%

1.92%

1.9%

-1.4%

ALFM Euro Bond Fund, Inc. -a

Є213.35

-2.89%

-0.41%

0.19%

-3.03%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0838

-8.11%

-2.61%

-0.67%

-9.98%

-1.2%

-0.32%

-5.77%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0245 -5.41% PAMI Global Bond Fund, Inc -b

$0.9193

-12.46%

-5.05%

-3.08%

-10.12%

Philam Dollar Bond Fund, Inc. -a

$2.2615

-9.22%

-0.42%

0.41%

-9.75%

$0.0609019

-3.09%

1.27%

1.3%

-2.23%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8316 -10.05%

-2.09%

-1.01%

-11.41%

Philequity Dollar Income Fund Inc. -a

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

131.8

1.27%

2.32%

2.51%

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

1.0627

1.03%

1.63% n.a.

0.46%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3241

1.53%

2.21%

2.48%

0.47%

0.65%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0632

0.58%

1.19% n.a.

0.25%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

43.972 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2456

0.59% n.a. n.a.

-9.93%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.8631

-13.69% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-11.02%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

June 2, 2022

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL MANULIFE PHIL STOCK EXCH SUN LIFE VANTAGE

39,375 265,459,603 196,571 168,890,037.50 1,841,550 685,796 136,310,819.50 1,797,388 78,830 725,430 136,395,078.50 61,162,651 796,690 73,140 95,000 84,774 980,400 70,000

-49,890,351 -108,005,984 -182,961 -117,010,806 -5,790 -9,884,924 25,197,722 -

INDUSTRIAL AC ENERGY 7 7.02 7.01 7.06 7 7 9,172,100 64,320,311 0.99 1 1.02 1.02 0.99 1 392,000 392,520 ALSONS CONS ABOITIZ POWER 30.45 30.5 31 31.35 30.4 30.5 1,801,400 54,981,415 0.45 0.455 0.455 0.465 0.45 0.455 7,510,000 3,457,700 BASIC ENERGY FIRST GEN 18.36 18.4 19.5 19.5 18.34 18.36 3,191,800 59,256,994 67.55 67.6 67.9 67.9 67.55 67.6 14,650 990,314.50 FIRST PHIL HLDG MERALCO 362 362.8 362 364.8 361 362 65,860 23,861,036 17.2 17.22 18 18 17.2 17.22 1,048,900 18,231,844 MANILA WATER PETRON 3.24 3.3 3.26 3.29 3.24 3.24 1,389,000 4,526,480 4.8 4.99 4.78 4.78 4.78 4.78 600 2,868 PETROENERGY PHX PETROLEUM 9.11 9.99 9.89 9.99 9.89 9.99 5,000 49,778 12.16 12.24 12.2 12.3 12.16 12.24 433,100 5,301,870 SYNERGY GRID PILIPINAS SHELL 18.5 18.6 19.1 19.1 18.6 18.6 162,200 3,020,768 10.6 10.76 11.68 11.76 10.48 10.6 1,522,400 16,786,058 SPC POWER SOLAR PH 1.74 1.75 1.82 1.82 1.75 1.75 48,945,000 86,659,510 4.64 4.69 4.7 4.73 4.58 4.69 212,000 993,480 AGRINURTURE AXELUM 2.25 2.28 2.25 2.28 2.25 2.28 101,000 228,610 21.6 21.65 21.6 22.25 21.55 21.65 2,271,400 49,190,085 CENTURY FOOD DEL MONTE 13.2 13.38 13.1 13.2 13.1 13.2 4,000 52,640 7.05 7.07 7.18 7.19 7.05 7.05 920,100 6,502,477 DNL INDUS EMPERADOR 17.82 18 17.8 18.1 17.8 18 904,000 16,260,190 60.05 60.9 60.9 60.9 60.05 60.9 470,700 28,385,326.50 SMC FOODANDBEV FIGARO COFFEE 0.485 0.495 0.485 0.495 0.485 0.485 1,250,000 609,350 0.56 0.58 0.58 0.59 0.58 0.58 147,000 85,420 ALLIANCE SELECT FRUITAS HLDG 1.12 1.13 1.12 1.14 1.11 1.13 6,349,000 7,146,660 106.4 110 106.2 110 106.2 110 380 40,488 GINEBRA JOLLIBEE 207.8 208 208.6 210.6 207.4 208 369,030 76,937,934 1.15 1.16 1.17 1.18 1.16 1.16 981,000 1,142,690 KEEPERS HLDG MAXS GROUP 5.5 5.54 5.58 5.58 5.55 5.55 5,200 28,973 0.12 0.125 0.12 0.12 0.12 0.12 50,000 6,000 MG HLDG MONDE NISSIN 13.98 14 14.34 14.34 13.9 13.98 11,888,000 166,576,554 6.75 6.8 7.15 7.15 6.8 6.8 745,600 5,129,431 SHAKEYS PIZZA ROXAS AND CO 0.55 0.56 0.53 0.56 0.53 0.56 2,116,000 1,122,980 4.2 4.29 4.15 4.29 4.15 4.29 6,000 25,450 RFM CORP SWIFT FOODS 0.095 0.097 0.098 0.098 0.097 0.097 510,000 49,510 106.5 106.7 107 107.4 104.5 106.7 417,410 44,517,433 UNIV ROBINA VITARICH 0.59 0.62 0.62 0.62 0.62 0.62 1,039,000 644,180 46.6 57.95 57.95 57.95 46.6 46.6 20 1,045.50 CONCRETE B CEMEX HLDG 0.72 0.73 0.71 0.75 0.71 0.72 1,780,000 1,300,340 3.37 3.39 3.5 3.5 3.39 3.39 688,000 2,362,950 EEI CORP HOLCIM 5.3 5.34 5.36 5.4 5.34 5.34 45,000 240,798 4.38 4.42 4.37 4.42 4.26 4.38 443,000 1,928,860 MEGAWIDE VULCAN INDL 0.89 0.9 0.86 0.9 0.86 0.89 406,000 360,410 1.02 1.1 1.1 1.1 1 1.09 56,000 58,870 EUROMED MABUHAY VINYL 4.9 5.34 5.1 5.36 4.35 5.34 2,800 14,198 5.33 5.62 5.63 5.63 5.63 5.63 600 3,378 PRYCE CORP CONCEPCION 18.02 19 18.98 19 18.98 19 6,100 115,898 1.79 1.8 1.71 1.8 1.71 1.8 14,722,000 25,757,980 GREENERGY INTEGRATED MICR 6.84 6.9 6.85 6.85 6.84 6.85 36,100 247,109 0.6 0.61 0.61 0.61 0.61 0.61 30,000 18,300 IONICS PANASONIC 5.74 6.04 5.8 6.07 5.56 6.05 23,800 138,458 1.03 1.05 1.04 1.04 1 1.01 432,000 439,300 SFA SEMICON 2.82 2.85 2.84 2.85 2.81 2.82 745,000 2,101,930 CIRTEK HLDG

-15,635,835 -109,490 -35,787,225 2,322,304 -731,381.50 -3,785,534 -3,066,366 3,240 1,693,856 -2,575,408 -2,312,220 -1,125,400 -163,870 13,250 984,645 -4,911,159 11,816,162 24,065,287 -88,300 -1,120 4,248 -12,515,072 -83,988,378 -1,530,903 -1,084,910 4,280 -13,834,634 -161,800 -1,301,620 44,790.00 -562,690 2,815 1,591,640 50,000 45,150

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER ZEUS HLDG

43.75 128.1 9.71 94.1 26.85 7.31 52.9 18.7 57.45 19.1 90.1 84 1.96 3.5 920 198 2,250 0.69

1.38 698.5 51.5 10.8 8.95 0.455 0.46 4.79 9.18 500 3.5 51.6 2.91 8.31 0.315 3.76 1.91 0.86 841.5 107.9 111.8 0.155

44.85 128.4 9.76 94.2 27 7.35 53 18.76 57.9 19.4 90.15 84.05 1.99 3.64 1,020 199 2,400 0.76

1.39 700 52.4 10.86 9.1 0.47 0.52 4.8 9.19 501 3.55 51.7 2.97 8.5 0.355 3.77 1.93 0.87 856 108 115 0.174

43.75 131.9 9.79 96 26.85 7.39 54 18.8 57.5 19.94 91.55 81 2.04 3.45 950 206 2,200 0.7

1.42 706 51.5 10.7 9.1 0.49 0.46 4.8 9.08 501.5 3.5 53.4 2.99 8.26 0.325 3.73 2.09 0.88 857 105.3 111.9 0.155

43.75 131.9 9.79 96.75 26.95 7.4 54.3 18.84 57.9 19.94 92.95 84.05 2.04 3.5 950 206 2,400 0.7

1.43 706 52.4 10.86 9.1 0.49 0.46 4.82 9.22 502.5 3.5 53.4 2.99 8.5 0.325 3.76 2.09 0.89 857 108 115 0.16

43.75 127.9 9.7 93.55 26.8 7.31 52.8 18.76 57.45 19.02 89.1 81 1.99 3.45 950 191.5 2,200 0.7

1.37 672 50.5 10.54 8.95 0.455 0.46 4.75 8.99 499.2 3.5 51.35 2.91 8.26 0.32 3.71 1.91 0.87 840 104.9 111.8 0.155

43.75 128.1 9.71 94.1 26.95 7.33 53 18.76 57.9 19.06 90.1 84 1.99 3.5 950 198 2,400 0.7

1.39 700 52.4 10.86 8.95 0.475 0.46 4.8 9.18 500 3.5 51.7 2.91 8.5 0.32 3.76 1.91 0.87 856 107.9 115 0.16

900 2,062,070 20,200 1,791,950 68,600 93,300 2,564,540 95,600 1,370 37,200 1,508,390 749,150 394,000 21,000 100 440 445 100,000

17,506,000 452,830 2,192,700 1,404,100 3,000 130,000 50,000 1,147,000 18,279,600 122,760 14,000 1,256,240 260,000 1,691,100 190,000 10,208,000 1,722,000 159,000 182,900 170,300 130 390,000

24,348,570 315,064,940 112,116,796 15,052,714 27,090 60,750 23,000 5,506,070 166,830,894 61,445,953 49,000 65,351,303.50 769,800 14,129,275 60,900 38,168,120 3,408,100 138,810 155,004,105 18,263,094 14,855 62,100

PROPERTY ARTHALAND CORP 0.56 0.57 0.56 0.57 0.56 0.57 177,000 100,690 29.55 29.65 29.25 29.65 29.25 29.55 8,021,600 236,226,650 AYALA LAND AYALA LAND LOG 4.06 4.08 4.09 4.1 4.05 4.06 154,000 626,010 16.14 16.46 16.2 16.48 16.12 16.48 24,100 389,346 ALTUS PROP ARANETA PROP 1.69 1.7 1.75 1.79 1.69 1.69 1,294,000 2,234,760 39.9 40 40 40 39.75 40 152,200 6,078,655 AREIT RT A BROWN 0.78 0.8 0.78 0.78 0.76 0.78 151,000 115,720 0.72 0.73 0.71 0.72 0.71 0.72 12,000 8,630 CITYLAND DEVT CROWN EQUITIES 0.089 0.091 0.089 0.092 0.089 0.09 1,340,000 120,110 2.64 2.7 2.7 2.7 2.61 2.7 327,000 873,420 CEB LANDMASTERS CENTURY PROP 0.41 0.415 0.415 0.415 0.41 0.41 200,000 82,700 2.55 2.56 2.56 2.57 2.55 2.55 2,429,000 6,208,160 CITICORE RT DOUBLEDRAGON 7.8 7.85 7.9 7.9 7.77 7.8 91,400 714,512 1.62 1.64 1.63 1.64 1.62 1.62 2,502,000 4,082,250 DDMP RT DM WENCESLAO 6.76 6.8 6.8 6.8 6.78 6.78 35,000 237,400 0.216 0.22 0.219 0.22 0.219 0.22 420,000 92,160 EMPIRE EAST EVER GOTESCO 0.305 0.31 0.285 0.32 0.275 0.31 113,710,000 34,329,150 7.25 7.29 7.32 7.32 7.25 7.29 69,200 505,832 FILINVEST RT FILINVEST LAND 0.91 0.93 0.94 0.94 0.92 0.92 8,211,000 7,577,090 10.22 10.5 10.44 10.5 10.3 10.5 27,500 286,208 8990 HLDG PHIL INFRADEV 0.94 0.95 0.92 0.95 0.92 0.94 259,000 240,160 0.77 0.79 0.77 0.77 0.77 0.77 17,000 13,090 CITY AND LAND MEGAWORLD 2.78 2.8 2.78 2.81 2.77 2.8 4,829,000 13,482,250 0.21 0.212 0.21 0.212 0.21 0.212 1,350,000 284,090 MRC ALLIED MREIT RT 16.62 16.64 16.5 16.88 16.46 16.64 374,800 6,261,452 0.34 0.35 0.35 0.35 0.35 0.35 400,000 140,000 OMICO CORP PHIL ESTATES 0.39 0.4 0.395 0.395 0.39 0.39 200,000 78,450 2.02 2.04 1.95 2.02 1.87 2.02 1,223,000 2,382,270 PRIMEX CORP RL COMM RT 6.86 6.93 6.88 6.94 6.8 6.93 3,545,900 24,379,028 19.14 19.48 19.46 19.48 19.12 19.48 372,900 7,232,688 ROBINSONS LAND PHIL REALTY 0.235 0.239 0.24 0.24 0.235 0.235 190,000 45,150 1.27 1.3 1.27 1.27 1.27 1.27 10,000 12,700 ROCKWELL STA LUCIA LAND 2.8 2.95 2.95 2.95 2.94 2.95 50,000 147,400 36.95 37.15 37.1 37.3 36.8 37.15 7,392,200 274,207,835 SM PRIME HLDG VISTAMALLS 3.3 3.39 3.27 3.39 3.27 3.39 9,000 29,580 0.98 1.02 1.03 1.03 1.03 1.03 40,000 41,200 SUNTRUST HOME VISTA LAND 2.42 2.45 2.47 2.47 2.37 2.42 1,039,000 2,517,730

SERVICES ABS CBN 9.86 9.98 10.3 10.3 9.84 9.98 39,300 390,025 11.64 11.72 11.9 11.9 11.6 11.72 337,400 3,963,588 GMA NETWORK MLA BRDCASTING 7.87 8.94 8.96 8.96 8.96 8.96 1,000 8,960 2,350 2,364 2,404 2,420 2,320 2,350 119,830 281,403,770 GLOBE TELECOM PLDT 1,890 1,892 1,910 1,925 1,885 1,892 82,045 156,045,285 0.044 0.045 0.045 0.046 0.044 0.045 192,100,000 8,650,300 APOLLO GLOBAL CONVERGE 25.6 25.65 26 26.15 25.25 25.6 10,991,800 280,997,955 3.11 3.12 3.26 3.26 3.11 3.12 294,000 930,550 DFNN INC DITO CME HLDG 4.53 4.55 4.59 4.59 4.49 4.55 1,635,000 7,414,050 1.43 1.44 1.42 1.44 1.41 1.43 1,053,000 1,499,570 NOW CORP TRANSPACIFIC BR 0.315 0.32 0.325 0.325 0.315 0.315 5,780,000 1,835,300 7.1 7.3 7.25 7.3 7.25 7.3 800 5,813 2GO GROUP ASIAN TERMINALS 13.3 13.86 13.88 13.88 13.88 13.88 300 4,164 1.47 1.48 1.5 1.5 1.45 1.47 131,000 192,630 CHELSEA CEBU AIR 45.1 45.2 45.5 45.5 45.1 45.1 60,400 2,726,650 215.8 216 214.4 215.8 211 215.8 506,970 108,911,522 INTL CONTAINER LBC EXPRESS 23.05 26 26 26 26 26 500 13,000 4.83 4.85 4.9 4.95 4.85 4.85 111,000 543,280 MACROASIA PAL HLDG 6.05 6.18 6.1 6.1 6.1 6.1 16,400 100,040 0.97 0.98 1.02 1.03 0.97 0.98 163,000 162,260 HARBOR STAR BOULEVARD HLDG 0.097 0.098 0.092 0.097 0.091 0.097 89,860,000 8,529,040 1.66 1.69 1.66 1.66 1.66 1.66 3,000 4,980 DISCOVERY WORLD CENTRO ESCOLAR 6.56 6.84 6.54 6.54 6.54 6.54 500 3,270 530 540 540 540 540 540 10 5,400 FAR EASTERN U IPEOPLE 7.22 7.96 7.22 7.96 7.22 7.96 1,300 9,534 0.34 0.35 0.35 0.35 0.34 0.345 120,000 41,350 STI HLDG BELLE CORP 1.26 1.27 1.26 1.26 1.26 1.26 3,000 3,780 6.32 6.34 6.35 6.35 6.29 6.32 2,123,100 13,385,521 BLOOMBERRY LEISURE AND RES 1.28 1.32 1.3 1.32 1.28 1.32 3,097,000 3,995,860 1.63 2.12 2.17 2.17 1.63 1.63 15,000 27,100 MANILA JOCKEY PH RESORTS GRP 1.22 1.23 1.19 1.23 1.17 1.23 2,415,000 2,910,150 0.41 0.415 0.415 0.415 0.41 0.415 2,000,000 827,400 PREMIUM LEISURE PHILWEB 3.88 3.9 4.1 4.25 3.82 3.9 9,954,000 40,579,240 0.39 0.4 0.41 0.41 0.39 0.39 20,390,000 8,109,050 ALLDAY ALLHOME 5.84 5.88 5.55 5.84 5.55 5.84 744,000 4,242,928 1.43 1.44 1.43 1.44 1.43 1.44 113,000 161,690 METRO RETAIL PUREGOLD 33.3 33.6 33.6 33.95 33.05 33.6 568,400 19,076,375 53.2 53.8 53.2 53.85 52.2 53.8 291,380 15,630,898 ROBINSONS RTL PHIL SEVEN CORP 54.35 56.95 54 56.95 53.8 56.95 14,010 782,282.50 1.31 1.33 1.38 1.38 1.28 1.33 5,636,000 7,431,010 SSI GROUP WILCON DEPOT 26.7 26.8 26.55 27.1 26.1 26.8 1,283,800 34,296,960 0.214 0.223 0.223 0.223 0.212 0.22 1,400,000 301,970 APC GROUP EASYCALL 4.01 4.59 4.02 4.02 4.01 4.01 3,000 12,050 0.66 0.68 0.67 0.69 0.66 0.68 70,000 46,770 MEDILINES PRMIERE HORIZON 0.425 0.43 0.435 0.435 0.42 0.425 1,610,000 681,450 3.92 3.98 3.95 3.95 3.95 3.95 3,000 11,850 SBS PHIL CORP

MINING & OIL ATOK 8.1 8.13 7.9 8.15 7.65 8.13 698,300 5,560,174 APEX MINING 1.65 1.66 1.62 1.67 1.62 1.65 3,605,000 5,934,200 5.97 6.05 5.94 6 5.94 5.97 81,600 486,100 ATLAS MINING BENGUET A 7.08 7.18 7.28 7.28 7.18 7.18 4,000 28,920 6.99 7.08 7.05 7.1 7.02 7.08 60,000 424,100 BENGUET B COAL ASIA HLDG 0.218 0.241 0.218 0.218 0.218 0.218 10,000 2,180 2.7 2.79 2.71 2.79 2.7 2.79 58,000 158,740 CENTURY PEAK FERRONICKEL 2.65 2.66 2.65 2.66 2.58 2.65 1,959,000 5,176,930 0.185 0.19 0.189 0.197 0.189 0.191 640,000 122,910 GEOGRACE LEPANTO A 0.135 0.136 0.137 0.137 0.135 0.135 270,000 36,470 1.75 1.76 1.72 1.77 1.7 1.76 7,276,000 12,669,220 MARCVENTURES NIHAO 0.98 1.02 1.01 1.03 1 1.03 147,000 150,420 7.1 7.13 7.04 7.13 6.92 7.1 3,377,100 23,966,930 NICKEL ASIA ORNTL PENINSULA 0.82 0.83 0.81 0.82 0.81 0.82 211,000 172,520 4.44 4.5 4.46 4.58 4.44 4.44 237,000 1,056,320 PX MINING SEMIRARA MINING 35.9 35.95 35.55 36.1 34.7 35.95 6,861,300 245,417,925 0.0062 0.0064 0.0062 0.0062 0.0062 0.0062 2,000,000 12,400 UNITED PARAGON ACE ENEXOR 12.42 12.6 12.42 12.6 12.32 12.6 44,400 552,232 0.011 0.012 0.011 0.011 0.011 0.011 600,000 6,600 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.012 0.012 0.011 0.011 68,400,000 786,600 0.009 0.0092 0.0091 0.0092 0.0091 0.0092 10,000,000 91,700 PHILODRILL PXP ENERGY 4.8 4.89 4.87 4.98 4.75 4.89 223,000 1,088,710

PREFFERED HOUSE PREF A 99.05 100.5 99.5 99.5 99.5 99.5 2,500 248,750 502.5 503 502.5 503 502.5 502.5 510 256,475 AC PREF B1 ALCO PREF C 100.3 108.3 100.2 100.2 100.2 100.2 420 42,084 502 519 501 501 501 501 100 50,100 ALCO PREF D AC PREF B2R 499 502 500 500 499 499 9,700 4,841,210 105 108 105 105 105 105 1,200 126,000 BRN PREF A CPG PREF A 101 102 102 102 102 102 10 1,020 99.3 100 100 100 100 100 130 13,000 DD PREF FGEN PREF G 100.5 105.8 101.2 101.2 100 100 12,000 1,204,360 970 980 985 985 980 980 140 137,250 JFC PREF A JFC PREF B 965.5 991 991 991 991 991 200 198,200 100 100.5 100 100 100 100 200 20,000 MWIDE PREF 2B PNX PREF 3B 100.4 101 101 101 101 101 190 19,190 972 985 985 985 985 985 20 19,700 PNX PREF 4 PCOR PREF 3A 1,040 1,050 1,051 1,051 1,051 1,051 10 10,510 76.9 77 77 77 77 77 1,160 89,320 SMC PREF 2F SMC PREF 2I 77.05 78.6 78.4 78.4 77 77.05 3,800 292,818.50 74.25 74.95 74.1 74.1 74.1 74.1 61,000 4,520,100 SMC PREF 2K TECH PREF B2D 54.6 57 58 58 58 58 10 580

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.35 10.36 9.39 9.39 9.39 9.39 1,000 9,390 11.3 11.5 11.26 11.5 11.26 11.5 22,000 248,200 GMA HLDG PDR

WARRANTS TECH WARRANT 0.52 0.53 0.53 0.53 0.51 0.53 673,000 346,450

16,002,700 231,171,500 -925,741 4,275,218 4,500 -19,490 23,857,565 -5,582,761 -49,000 -31,234,411.50 -388,700 4,339,289 -10,685,610 -5,425,060 6,386,951 3,727,375 -121,580.00 3,059,155 54,000 10,710 -9,070 -102,856 -2,916,250.00 -46,650 -6,183,250 33,178 -73,600 -2,204,690.00 12,600 -1,811,112 -1,560,040 3,772,785 394,670.00 43,585,210 28,270 -63,679,620 -52,617,970 90,000 -101,365,710 -688,560 72,430 63,000 4,164 -229,210 31,885,062 63,150 41,820 3,500 -160,709 -617,280 332,000 254,110 123,050 946,960 -5,981,875 1,208,373 -280,994 2,250,880 -701,415 92,080 -8,700 -181,000 -46,504 96,640 4,370,650 23,700 4,334,803 75,500 22,898,560 -12,534 -

SMALL & MEDIUM ENTERPRISES CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.83 1 0.83 1.53 0.325

0.84 1.03 0.85 1.55 0.34

EXHANGE TRADE FUNDS FIRST METRO ETF

102.4

102.6

0.83 1 0.83 1.58 0.325

0.84 1.04 0.85 1.58 0.345

0.81 1 0.82 1.52 0.325

0.83 1.03 0.85 1.53 0.34

6,532,000 45,000 70,000 986,000 3,280,000

5,386,780 45,460 57,860 1,531,570 1,099,850

30,330 () 23,000 4,640 -

104 104 102.5 102.5 14,690 1,516,967 13,319

www.businessmirror.com.ph

DBP, PDIC ink deal in claims vs shut banks

By Bianca Cuaresma @BcuaresmaBM

S

TATE-owned Development Bank of the Philippines (DBP) announced that it has signed a memorandum of agreement with the Philippine Deposit Insurance Corp.

(PDIC) to facilitate the payment of insurance claims to depositors of closed banks.

This collaboration, according to the bank, is an effort towards using digital channels in the delivery of the government’s services.

DBP President and CEO Emmanuel G. Herbosa said the bank’s Multi-Channel Disbursement Facility (MCDF) provides additional claim payment options for depositors including credit services and payment across different local banks through PESONet. “DBP is collaborating with PDIC in this initiative to further optimize the use of technology to provide more efficiency and convenience in the delivery of the government’s financial obligations,” Herbosa said.

The intrabank credit facility of DBP’s MCDF allows PDIC to credit insurance claims directly to the DBP accounts of depositors. Under PESONet, PDIC may transfer the claims of depositors directly to their accounts in other banks, or with electronic money issuers (EMIs).

Earlier this year President Rodrigo Roa Duterte issued Executive Order (EO) 170 on the “Adoption of Digital Payments for Government Disbursements and Collections.”

The EO mandates all departments, agencies, and instrumentalities of the government, including state universities and colleges and government-owned or -controlled corporations, and enjoins local government units to utilize digital channels in the disbursement and collection of payments.

DBP Senior Vice President for Branch Banking George S. Inocencio said this latest collaboration with PDIC reflects the bank’s “commitment to be responsive to the evolving banking needs of the depositing public” and aims to bring “essential financial services closer to more” Filipinos.

The DBP is the fifth largest bank in the country in terms of assets and has a network of 131 branches and 12 branch-lite units which are mostly situated in underserved areas of the Country. The PDIC is the government agency mandated to protect the depositing public and promote financial stability through deposit insurance of up to P500,000 per depositor per bank.

Deposit insurance is a safety net and is paid by PDIC to depositors of banks ordered shut by the Monetary Board of the Bangko Sentral ng Pilipinas.

Banking&Finance BusinessMirror

B3

BOC’s ₧68.25-B take beats May target

T

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Customs (BOC) once again surpassed its monthly collection target after it collected P68.25 billion in May. The second-largest revenue generating government agency reported in a statement it exceed the P56.48

billion collection goal for May by 20.8 percent.

The BOC’s revenue for the month

is also higher by 40.37 percent compared with its collection in the same month a year ago at P48.617 billion.

To date, the BOC raked in P322.47 billion since January, equivalent to 47.5 percent of P679.226 billion fullyear target for 2022.

The BOC said factors that contributed to the agency’s positive performance since January this year included improved valuation, intensified collection efforts, measures preventing revenue leakage and “the recovering economy of the country.”

Moreover, the bureau said it maintained its border security measures against undervaluation, misdeclaration and other forms of technical smuggling and collect lawful revenues.

Fifteen of 17 collection districts exceeded their target for the month, based on the preliminary report from the BOC-Financial Service. These districts include the following ports: San Fernando; Manila; Batangas; Legaspi; Iloilo; Cebu; Tacloban; Cagayan de Oro; Zamboanga; Davao; Subic;

Clark; Aparri; and, Limay. The Manila International Container Port is also among these districts.

In March, the bureau recorded its all-time-high monthly revenue collection at P70 billion.

The BOC earlier expressed confidence that it would be able to surpass its collection goal this year, which is up by over 10 percent from the target of P616.75 billion in 2021.

Last year, the BOC collected P645.77 billion, breaching its goal by 4.7 percent.

Union Bank lists ₧11B PHL’s first digital peso bonds at PDEX

By VG Cabuag

@villygc

A

BOITIZ-led Union Bank of the Philippines on Thursday listed at the Philippine Dealing and Exchange Corp. the country’s first digital peso bonds, raising P11 billion.

“Despite the volatile rate backdrop, the robust participation from retail and institutional investors resulted to an order book eleven times its initial minimum offer size of P1 billion,” the company said.

The bonds, which have a tenor of 1.5 years and a fixed rate of 3.25 percent per annum, were issued out of Union Bank’s existing P39 billion in shelf registration of

bonds program.

“This pioneering issuance serves as a building block in Union Bank’s journey to embrace digitization and positive disruption in the industry,” Jose Emmanuel Hilado, the bank’s treasurer and head of global markets, said. “I am confident that this will be recognized globally as a game changing digital initiative in the field of finance.”

Union Bank’s shares closed Thursday at P84 apiece.

The digital public bond offering and issuance marks a milestone and the success of the proof of concept paves the way for future utilization of distributed ledger or blockchain technology towards more automated

and operationally efficient local capital markets, the bank said.

The digital bonds were issued through the digital registry and digital depository of the Philippine Depository and Trust Corp. It uses the infrastructure powered by STACS blockchain and which new digital infrastructure was kept interoperable with the traditional trading to clearing infrastructure of the PDEX fixed income platform.

The Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank are the joint lead arrangers and bookrunners on the transaction. The two banks are also the selling agents for the offering together with Union Bank.

Income, assets

LAST April, the lender reported to the Philippine Stock Exchange (PSE) it recorded a net income of P2.6 billion in the first quarter of 2022, which translated to a return on equity of 9.2 percent.

The bank said its recurring income grew 21 percent versus the same period last year as net interest income increased by 12 percent to P8.1 billion and feebased income more than doubled to P1.4 billion.

“Net income, however, was lower by 45 percent due to extraordinary trading gains” recorded in the first quarter of 2021, the lender said in a statement sent

to the PSE. Un ionba n k at t r ibuted t he year-on-year growth in recurring income improvement in its net interest margin by 6 basis points (bps) to 4.6 percent brought about by higher yields in earning assets, coupled by lower cost of funds from the expansion of CASA (current account savings accounts) deposits. Likewise, the bank said the improvement in fee-based income is also attributed to the growth of InstaPay charges and interchange fees.

As of end-March, Unionbank said its total assets were at P844.4 billion, 13-percent higher than the same period last year.

Keeping the Community Fire Burning in Associations SG insurtech to use new funds to sustain PHL ops Y OU must have heard or used the idiomatic and colloquial expression, “keeping the fire burning,” or similar variations. In the context of associations, it is keeping a sense of connectedness and belonging in a community setting.

I learned more about what this phrase meant for associations when I attended a webinar recently on “Keeping the Community Fire Burning in Associations” organized by Answers for Associations, an Australian online community for associations. The featured speaker was Marjorie Anderson, founder of USbased Community by Association, an organization that supports community management practitioners.

My key takeaways from Marjorie’s presentation: 1. Define community and align. First, there’s need to agree with those involved on what the online community is and is not and where it resides, so it can be supported if it requires content generation, connecting with each other or providing solutions and resources.

Once done, it is best to tell everyone else about it by communicating clearly the purpose and aim of the community.

2. People and process before platform. Understand the who (will be involved), the why (it exists) and

Association World Octavio Peralta

the how (it will serve the purpose).

Ensure that your strategy is sound and that your processes are in place and that technology supports people and process rather than the other way around.

3. Prioritize online trust and safety. Enforce moderation equitably to exhibit good behavior by making user guidelines and terms of use accessible and understandable. Also, empower your community members to help create your community’s culture and maintain it.

4. Invest in a dedicated community team. It is essential to hire a dedicated community manager at the very least and, at best, a community management team. Then provide the necessary budget for additional resources and ensure support for a full team.

The pandemic has caused associations to think and act differently on how they have to engage with their members now. As such, the future of member engagement looks very much different as associations move

past the challenges associated with the pandemic and online communities can hold the key to overcoming these challenges.

The “State of Community Management Report 2020” by the Community Roundtable revealed that “community engagement supports every member’s success by giving them access to the knowledge and value of the entire community.”

“By supporting them in their work, it inspires their loyalty as well as exposes people to new ideas, prompts product and service use and rapidly surfaces shifting needs,” the report continued.

Online communities are here to stay and will work hand-in-hand with associations’ in-person activities like events, chapters and meetings. With the advent of Web 3.0, which is the third generation of the internet, it is foreseen that online community users will be able to have far greater experiences than now.

The main role of associations is to create connections so it is inevitable that online communities will continue to grow and prosper.

Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@pcaae.org.

LandBank cites help to South Cotabato cooperative

T

’BOLI, South Cotabato—The unexpected closure of its anchor firm and primary pineapple produce buyer pushed the Laconon 100 MultiPurpose Cooperative (LMPC) to the brink of financial collapse in 2003.

The cooperative struggled to recover and improve its operations in the years thereafter, forcing several members to pull their capital share out of the organization.

In 2017, LMPC was given a fresh start after availing of a series of loans from the Land Bank of the Philippines (LandBank), which were used to expand the co-op’s operations and acquire needed farm machinery, including four trucks, one tractor, one tractor implement and one service monitoring vehicle.

Finally, with the support from LandBank, the cooperative was able to bounce back from previous losses and started gaining new members.

In a bid to further expand its operations in the municipalities of T’boli, Surallah, Lake Sebu and Banga and to accommodate pineapple farmers who have yet

Editor: Dennis D. Estopace • Friday, June 3, 2022

This undated photo courtesy of the Land Bank of the Philippines shows members of the Laconon 100 Multi-Purpose Cooperative, the organization that LandBank said it helped get back on its feet.

Photo courtesy OF Land Bank of the Philippines

to access financing from the bank, the co-op renewed a P160-million loan line which was further increased to P200 million in 2020.

LMPC was also granted a P7-million term loan for the purchase of five hauling trucks to address the increasing logistics requirements, especially during the harvest season.

The co-op availed of another P5million loan from Landbank as working capital for cassava trading operations to support members who have not qualified

for the pineapple growership program of its anchor firm.

From a struggling cooperative managing 300 hectares of farmland with 150 members, LMPC has since expanded its area of production to 1,000 hectares with 1,187 co-op members.

Since 2017, the timely credit of LandBank allowed LMPC to post steady growth in net income with an average production of 40,000 to 50,000 tons of pineapples per year—assisting the co-op to weather the economic challenges of the

global pandemic.

LandBank’s relationship with LMPC continues to expand, after the co-op was certified in December 2021 as one of the Bank’s Agent Banking Partners, offering basic banking services to unbanked and underserved communities.

As an accredited full-suite Agent Banking Partner, LMPC provides cashout, cash-in, fund transfers and bills payment services on behalf of LandBank and facilitates the opening and issuance of LandBank Agent Banking Cards.

This arrangement provides Landbank customers in T’boli with improved access to financial services and lower transaction costs, which is reflective of the Bank’s steadfast commitment to advancing financial inclusion in South Cotabato and the country as a whole.

As LMPC celebrates its 25th anniversary this year, the co-op is looking to avail of additional term loans from Landbank to support its expansion plans. These include the acquisition of two tractors and the construction of a new office building and logistics facility with a gas station.

A

XINAN Pte. Ltd., operator of the Igloo brand of insurance technology (insurtech) product, announced to use $19 million from a Series-B funding to sustain its position, the Singapore-headquartered firm said.

“Igloo will continue to invest in reinforcing its full-stack capabilities and innovating its dynamic risk assessment and AI [artificial intelligence]-powered claims assessment tools,” Mario Berta, Axinan’s executive assigned to the Philippine portal, said during an online forum last Wednesday. “In line with our vision, [our] product development and distribution focus will be further targeting the underinsured low-income to mid-income population segments in Southeast Asia.”

The Philippines—peopled mostly by a tech-savvy yet uninsured population, Berta said—is a potential market for the company. Citing data from the Insurance Commission, Berta said only three percent of Filipino adults are insured. Despite this, however, the domestic insurance industry has grown, with total gross written premiums rising 64.3 percent from P169.6 billion in the third quarter of 2016 to P278.7 billion in the same period last year, the executive added.

“Our objective in the Philippines is to be able to empower our partners to sell digital products such as insurance,” Berta said. “Our goal is to bring the most competitive product into the market and new products into the market and to ensure 102 million Filipinos in 7,300 islands depending on the type.”

Partner firms

WITH this in mind, we have worked with insurance companies and over a dozen commercial partners across the finance, logistics, lifestyle and travel sectors, he added.

In the last year, Axinan has facilitated over 60 million protection plans and increased gross written premiums by 20 times, Berta’s data showed. Its latest collaboration makes affordable “cracked screen protection” plan and “electronics protection” plan accessible to more than 73 million monthly visitors on the Shopee Philippines platform.

Rico T. Bautista of local Axinan

partner Etiqa Life & General Assurance Philippines Inc., said insurtech firms like Axinan offers a big opportunity to the country given its high mobile connection and Internet usage. Their partnership, for instance, is unique since their composite license allows them to cater both life and nonlife products.

“We offer a digital customer journey and therefore, seamless: from the purchase of the insurance, to the claims,” Bautista, president of Etiqa Life, said during the same forum. “We are an insurance company that does what we do because our vision is to make our country a better place.”

Gig economy, MSMEs

ACCORDING to Berta, Axinan has tapped traditionally-underserved segments like gig economy workers and micro-scale, small-scale and medium-scale enterprises (MSMEs).

He noted that last January, the company extended its partnership with Delivery Hero (Philippines) UG (haftungsbeschränkt) & Co. KG, operator of FoodPanda app, to help its riders minimize risks and make accidental losses more manageable while on the road. More recently, our team up with UBX Philippines Corp. provided access to over 50,000 MSMEs with affordable fire coverage and wider personal accident protection for family members, Berta added.

According to him, the firm’s insurance solutions have benefited not only the Filipino market but also over 15 million users in Southeast Asia—thanks to the region’s growing digital economy, which is expected to hit $300 billion in 2025. The increasing digital insurance penetration opens up new opportunities for digital players and insurers; worth over $10 billion in the region, Berta added.

“Insurance partners are increasingly looking at how to digitalize their internal processes and distribution channels,” Berta said. “This is where Igloo comes into the picture. We offer insurers a plug-andplay solution for distributing insurance products via the platforms of big tech players in the Philippines and the region.” Roderick L. Abad

B4

Friday, June 3, 2022 • Editor: Gerard S. Ramos

Relationships BusinessMirror

www.businessmirror.com.ph

❸

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Rafael Nadal, 36; Anderson Cooper, 55; James Purefoy, 58; Deniece Williams, 72.

HAPPY BIRTHDAY: Reach out to the people and groups that pique your interest and encourage you to develop and follow your dreams. By participating in social events, you’ll receive valuable information that can help shape your future. Explore possibilities; check out rules and regulations that can affect how you proceed. Update and upgrade to ensure you are on top of your game. Your numbers are 5, 12, 21, 25, 34, 46, 48.

❹

ARIES (March 21-April 19): Review how you handle money and wield your earning power.

Making sure that you can afford the lifestyle you choose will help you make reliable plans for advancement. Don’t be afraid to promote what you have to offer. HH

❶ ❶ NEW Clark City Sacobia bridge that connects the Clark Freeport to the NCC

PHOTOS BY STELLA ARNALDO

❷

Things are shaking in Clark

❷ THE departure

hall at the entrance of the new CRK passenger terminal

❸ SEATING area

at the new CRK passenger terminal which can function as an event space

❹ ROOMS at the new wing of Park Inn by Radisson Clark sport muted colors but walls are adorned with whimsical prints

TAURUS (April 20-May 20): Take care of yourself, your relationships and your health.

Leave nothing to chance. Don’t let anyone back you into a corner. Associate with people who bring out the best in you, and it will encourage positive changes at home conducive to financial growth. HHHH

A

S the country continues to relax pandemic restrictions, I like many people have learned to leave the comfort and security of my home.

I was proud of myself for having taken a P2P bus from Alabang to BGC recently, and a few trips on the MRT-3, which mercifully was not crowded then. (Free rides until June 30, folks.)

I have also started attending major news briefings, as well as global conferences—in person—mixing and mingling with colleagues in the profession and new acquaintances and connections. I’ve dined in restaurants even in the south, crossing the Edsa divide just to enjoy new cuisine and the company of old friends.

Of course, there is still mild trepidation since we really haven’t licked Covid-19. But I just keep my mask on most of the time, and now that I’ve been powered

by booster vaccines I feel a tad safer.

My recent travels have taken me to the Clark Freeport in Angeles, Pampanga. As most people know, the freeport was a former airbase of the US military that was converted into an industrial, tourism and gaming zone beginning 1992, after Mount Pinatubo’s cataclysmic eruption damaged the base.

(I was telling friends on the trip to Clark that I would often tag along with my parents to the PX capital of Central Luzon, Dau, which was just outside the airbase’s gates, to purchase my favorite Hostess Twinkies. As a college student, Twinkies became less of a priority, as I turned to the so-called “blue seal” cigarettes—US-made Marlboros where the top seal is, of course, blue. Trade one addiction for another.

Hahaha.)

These days, Clark Freeport is dotted with warehouses, office buildings, hotels, restaurants and casinos. It now hosts the SMX Convention Center, described as a game-changer in Central Luzon’s meetings, incentives, conventions and exhibitions (MICE) market. It is the second stand-alone convention center after SMX Manila, and has a gross leasable space of more than 4,000 square meters.

Ann Olalo, general manager of Park Inn by Radisson Clark, says, “Our guests are mainly business travelers,” with the hotel’s current occupancy at an average of 50 percent. With the opening of the new convention center, just adjacent to the hotel, “we project business to further grow in the second half of

the year as the hotel focuses on MICE groups.”

We stayed at the new wing of the hotel, where the rooms this time are painted in muted colors, with open closets for the easy retrieval of one’s wardrobe—a bonus indeed for business guests rushing off their meetings or conferences for the day.

If unable to partake of the generous daily breakfast served at Hues, the hotel’s all-day dining restaurant, guests can get sandwiches, snacks and drinks at Dash, the grab-and-go kiosk.

Clark’s attractiveness as an investment area is expected to be further boosted with the recent opening of a new passenger terminal at the Clark International Airport (CRK). With media colleagues, we toured the new terminal designed by Populous, an award-winning global design firm which counts among its projects the upgrade of Kansai Airport, Zhuhai International Airport, Tottenham Hotspurs Stadium, and the Philippine Arena, among others.

Its local partner, Casas+Architects, is one of the top architectural design firms in the country which designed the Grand Hyatt in Manila.

The terminal is spacious, and can accommodate some 8 million passengers annually. It is bathed in a lot of natural light with floor-to-ceiling glass windows, while its high ceiling evokes the inside of a nipa hut. There are lots of seating areas, including functional art and furniture pieces for weary

Continued on B5

Smile Train Ambassadors, Miss Universe queens continue to spread smiles

SMILE Train ambassadors and Miss Universe queens Pia Wurtzbach (2015), Iris Mittenaere (2016) and Demi-Leigh Tebow (2017) pose with Smile Train beneficiaries during their special meet-and-greet event before hosting the Miss Universe Philippines 2022 coronation night.

BEFORE hosting the grand coronation night of the Miss Universe Philippines 2022 pageant, Miss Universe queens Pia Wurtzbach, Iris Mittenaere and Demi-Leigh Tebow met Smile Train beneficiaries under the care of its partner, Noordhoff Craniofacial Foundation Philippines Inc. (NCFPI).

The queens reunited for this special gathering to bring awareness about clefts, continuing their important work as advocates of Smile Train.

Smile Train, the world’s largest cleft-focused organization, welcomed them to the Philippines and organized the visit with the support of the Miss Universe Philippines Organization.

“Smile Train is grateful for the unwavering support given by the Miss Universe queens and the Miss Universe Organization. The impact they have globally and their genuine compassion toward our patients are vital to further our cause,” said Smile Train South East Asia Vice President

Kimmy Coseteng-Flaviano. “With their support, we hope to reach more patients and families so that we can continue to provide them with the care that they need.”

In the Philippines, Smile Train has continued to provide comprehensive cleft care during the Covid-19 pandemic.

Since the beginning of the pandemic, March 2020, until April 2021, Smile Train has supported 5,490 cleft surgeries in the Philippines. In addition, Smile Train recently bagged recognitions from peers in the communications industry from the Public Relations Society of the Philippines (PRSP); Silver Anvil Award and in the Asia-Pacific (Gold) Stevie Awards 2022 with the launch of the country’s first Filipino mobile Smile Train Speech app and the Virtual Telehealth Program.

More information about Smile Train’s local programs in the Philippines and referring a patient in need can be found at www.smiletrain.ph/get-help.

GEMINI (May 21-June 20): Sign up for something you care about, and work to make a difference. How you contribute can set the stage for new beginnings. A hands-on approach will help you gain insight and confidence. Be proactive and take control. HHH

CANCER (June 21-July 22): Consider alternatives, and share thoughts with a trusted acquaintance who will help you reach your objective. Invest time and money in yourself and your skills. Learn from experience and experts, and you will find the success you desire. HHH

LEO (July 23-Aug. 22): Speak from the heart, but don’t reveal your financial, medical or contractual obligations. Share your feelings and personal goals, and you’ll be the recipient of good news and exciting plans. Expand your knowledge and reach for the stars. HHH

VIRGO (Aug. 23-Sept. 22): Step up and take over. Say what’s on your mind. Offer solutions that are well thought out and easy to apply. Your dedication and loyalty will far outweigh what anyone else has to offer. HHHH

LIBRA (Sept. 23-Oct. 22): Push for what you want. Don’t hold back or let someone outshine you. Put your heart and soul into getting what you want, and be ready to counter any negativity or manipulative tactics that pop up. Push yourself to the limit. HHHH

SCORPIO (Oct. 23-Nov. 21): Emotions will get you in trouble. Let your humor and wit lead the way, and offer a positive and playful attitude that is difficult to resist. How you present who you are and what you want will determine what you receive. HH

SAGITTARIUS (Nov. 22-Dec. 21): Invest in something that stabilizes your life. Take on a project that eases stress and makes your daily routine free of trouble. Don’t share personal information with a co-worker or take on more responsibilities than you can handle. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Honesty is the best policy when dealing with relationships.

Be precise and keep everyone informed to avoid costly last-minute changes. Don’t let yourself get overloaded with additional responsibilities. A personal change will give you a boost. Romance will enhance your life. HHH

AQUARIUS (Jan. 20-Feb. 18): Put your energy where it counts. Look over your financial papers and adjust your budget. Stay away from individuals who meddle or try to push you in a direction you don’t care to travel. Don’t jeopardize your health or reputation. HHH

PISCES (Feb. 19-March 20): Don’t settle for less than what you want. Be willing to put in the labor required to get things done your way.

Make unique plans with someone you love, and you’ll end your day on a happy note. HHHHH BIRTHDAY BABY: You are curious, imaginative and courageous.

You are persistent and unique.

‘liquid assets’ BY MATT WESTMAN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Scoped out 6 Former Swedish automaker 10 Play on repeat 14 Plentiful 15 Boundary 16 Present opener?

17 Self-serving use of government funds 19 Sobbed 20 Basketball legend Bird 21 Camembert cousin 22 Highest grade 23 Replacement on the mound 27 Affirmative votes 28 Hosp. diagnostic scan 29 Covers in Cottonelle, briefly 31 Co. leader 33 Short ___ (beef cut) 34 Shout of disapproval 35 Icon in Wikipedia’s search bar 40 3-letter “Wow!” 41 Fed a line to 42 Resource to refine 43 Church bench

44 45 48 53

Ctrl-___-Del Moreover He finds a Willy Wonka golden ticket One may be stuffed at a Greek restaurant 54 Corporate symbol 55 Sashimi tuna 57 Participate in the 2022 midterms 58 Seems valid, or what the end of 17-, 23-, 35- or 48-Across does 61 Previously owned 62 Toddler’s injury 63 Alpaca relative 64 Flat-topped landform 65 “___ of the D’Urbervilles” 66 What aptly bookends “satisfies” DOWN 1 Baseball players’ headwear 2 Love, in 24-Down 3 Buying binge 4 Antlered animal 5 Singin’ in the Rain star Reynolds 6 What Helvetica and Arial lack 7 TV spot seller

8 Get more mature 9 ___ Canto (Ann Patchett novel featuring an opera singer) 10 Highly acidic 11 Hotel brunch station 12 Deliberately 13 Peach parts 18 2D measurement 22 Scoring on a serve 24 French city with a big cat on its flag 25 “It’s showtime!”

26 Math course featuring angles 30 Distress signal 31 Almost made it 32 Clear ingredients at an 11-Down 33 Pot top 35 Floor cleaner 36 “Why should ___?”

37 F, on a gas gauge 38 Cryptozoological beast 39 Appearance 45 Dwellings 46 Carries with difficulty 47 Grumpy expressions

49 50 51 52 53 56 58 59 60

Vegan beauty brand Historic New York island Really annoy Crossword feature, often Female gamete Some Fidelity plans, briefly Sweltering Be in debt In the manner of

Solution to today’s puzzle:

www.businessmirror.com.ph

THINGS ARE SHAKING IN CLARK Continued from B4 passengers to rest and relax.

Passengers are greeted with a view of the Sacobia mountain ranges in the west and Mount Arayat toward the east. There are accents of green and blue to emulate the lush greenery and landscape of Central Luzon.

I had used CRK twice in the past, on a trip to Kota Kinabalu via the old Seair, and I remember the convenience being much more accessible to me, as I live in Quezon City. But the old terminal then was stiff and stuffy; just a few hundred passengers already made it feel claustrophobic. The only stores therein were local kiosks for pasalubong shopping.

Thus, the new passenger terminal is a significant upgrade, making passengers and visitors alike feel that they are in a world-class international airport, with quality services to boot. I look forward to flying in and out of there in the near future. CRK is operated by the Luzon International Premier Airport Development Corp.

(Lipad), a consortium composed of the Filinvest Development Corp., JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc., and Changi Airports Philippines (I) Pte. Ltd. We were also able to check out the New Clark City Sacobia Bridge, which will connect the freeport to New Clark City (NCC) in Tarlac. Still undergoing finishing touches, the new bridge will connect the freeport to NCC, a planned community which will host a new government center for line agencies, a sports hub, schools, housing and more tourism establishments.

Exciting things are certainly happening in this part of the country. n

GABBI GARCIA (left) and Khalil Ramos

GABBI, KHALIL UNRAVEL LEGEND OF SHADOW CREATURES

GMA Public Affairs brings a story that merges mystery and romance with folklore and filmmaking via Love You Stranger, airing on GMA beginning June 6.

In their first-ever prime-time TV series together, real-life couple Gabbi Garcia and Khalil Ramos try to unravel the mystery surrounding the legend of a shadow creature.

Love You Stranger tells the story of LJ (Gabbi), a young lady who dedicates her life taking care of her mother, Lorraine (Andrea Del Rosario), who has an unexplained fear of shadows and aversion to strangers. Since she was 12 years old, LJ has been taking care of her mother, Lorraine, who avoids contact with the outside world and has not left their house in more than 10 years. The nature of her mother’s condition is unknown to LJ, save for a connection to a legend from the town where they used to live.

LJ and Lorraine move to Manila, where LJ becomes a film designer struggling to make ends meet. As LJ desperately seeks ways to help Lorraine get better, she serendipitously lands a major movie project that could bring her closer to understanding her mother: a film based on the Lilom folklore itself. The film is helmed by a charming young director named Ben (Khalil) and is set in the very town of Sta. Castela, the one place where LJ is never supposed to return. Ben is intrigued by LJ, who seems to understand the film—and the legend which it explores—almost as much as Ben does. LJ agrees to work with Ben on the film, while keeping her past in Sta. Castela secret to protect her mother. Little does she know that like her, Ben has his secrets too.

As soon as LJ and Ben arrive on location, mishaps start happening on the film set. The production team wonders whether the creature Lilom is playing tricks on them.

Complicating matters is the arrival of the charismatic Tristan Dela Paz (Gil Cuerva), Ben’s childhood friend, who also develops feelings for LJ. Soon, LJ, Ben, and Tristan will find themselves in the middle of a new mystery that is eerily similar to Lorraine’s Lilom encounter.

Gabbi is eager for viewers to watch Love You Stanger.

“First time namin gumawa ng mystery, thriller, romance na type na kuwento. Kaya pati kami excited. Talagang pinaghandaan ng bawat cast member ’yung show na ’to.

Talagang binigay namin lahat ng best namin para mapaganda ’yung Love You Stranger,” she said.

Working for his first GMA prime-time series, Khalil shared that the experience taught him a lot of lessons. “Marami kaming natutunan, hindi lang tungkol sa sarili namin, hindi lang sa relationship namin. Marami kaming natutunan sa trabaho. ’Yung patience namin sa isa’t isa, talagang na-test,” he said.

Also in the cast are Carmi Martin, Tonton Gutierrez, Lexi Gonzales, Kim de Leon, Maey Bautista, Angeli Sanoy, Alex Medina, Nor Domingo, Ces Quesada, Lui Manansala, Bodjie Pascua, Soliman Cruz and Dindo Arroyo. The series is directed by King Baco with Irene Villamor as script consultant.

Love You Stranger makes its world premiere on June 6, 9:35 pm, on GMA prime time.

Show BusinessMirror

Editor: Gerard S. Ramos

• Friday, June 3, 2022

B5

Treasuring festivals at the peripheries T

HE pandemic has not stopped filmmaking altogether. In the periphery, filmmakers give me this sense that they merely paused for the first few months of the lockdown and it was back to fleshing out their imagination, taking slices of realities from the pre-filmic universe and turning them into movies.

As a film critic and film educator, I became part of two short film festivals and one film education workshop in this month alone. The two festivals took place in Ozamiz, in Northern Mindanao, and Buhi, an interior town in Camarines Sur, respectively; the film appreciation and education workshop happened in the frontier city of Tabaco, in Albay.

Facilitated by Eric Basmayor Valeriano, the film appreciation workshop was in preparation for the first Tabaco City Short Film Festival. Thus, the name Pelikulab, with the workshop serving as preproduction. The filmmakers come from the different offices of the city. To be held in June, the films will take the place of the musical presentations that the government would usually hold for the fiesta of the city. Behind this great idea is the incumbent mayor, Krisel Lagman Luistro, herself a passionate advocate of arts and culture in the region.

The cineANIMO Film Festival of La Salle University in Ozamiz follows the new template of regional film festivals: it now integrates in its competition an Open Category, which means that any filmmaker from other parts of the country can join the concourse. The festival retains a student category, which is not limited to the place that sponsors the competition.

Chairing the jury was a privilege as it enabled me to access new works both from professional and amateur filmmakers. This term “amateur” is almost outdated given how skills, narrative styles and positionalities—both social and political—could not be correlated with a person being a beginning filmmaker or a veteran. Access to technologies and tales to tell has leveled the playing field already.

In Ozamiz, the plots of the short films ranged from philosophical to ecological, from the nostalgia and lack of closure in the repressive 1980s to the localities and their cultures.

Basura, from Roberth Fuentes, was an exhilarating illustration of how garbage takes over the life of humans. The short film presents a man in a garbage site, whirling and writhing as if in a dance, as the

plastic and cellophane fly out of the ground and stick to his body until he becomes a gyrating lump of garbage. All this time, the film would do a cut-to-cut look at the world of men and women using plastic in their lives, in livelihood, in food.

Copping the Best Film was Tugbang sa mga Buhat (literally, “As to Deeds,” which alludes to a gruesome act in the film). The film directed by Hiro Saint Joshua Apus documents the life of a man who assists women in child deliveries in a remote village. Dodong has a wife who is pregnant. Unknown to the wife, the husband also does abortion. Gripping, the story is well constructed, using old literary devices like foreboding and, in the absence of long dialogues, the film subsists on darkening horizons and a house bereft of lights.

The realism of the performance was such that I had to ask the organizers whether the lead actors as well as the supporting ones were “actors” or residents of that remote barangay. You could almost smell the unwashed clothes of the pregnant woman and the husband and the dank, damp scent of the forest with ponds and streams black and stagnant. That was how realistic the look of the film was.

Then I was told the lead actors were played by Louie Logronio and Abby Gale Masambo-Bantayan, two government employees connected with the Tourism Council of Nabunturan, in Compostela Valley. Both were judged Best Actor and Best Actress, respectively. The next question was the location: where did they find such a desolate, distant place?

Having been to Nabunturan, I was informed that the area was just near the town itself.

Buhi, where the second film festival had me as Chair of the Jurors, has always been described as an “interior” town. The inhabitants of the place prided themselves in that interiority and isolation. Imagined as it may be (there are now other routes by which

one can reach the town), the lakeshore town with its piquant language has the right to that claim of singularity. That distinction is theirs to embrace; it makes their work—the films—magical. I should know: Buhi is the hometown of my father and it is part of me.

Three short films stood out in the competition: Asog (referring to the mountain that looms over the town, which is also the name given to pre-Spanish male shamans who dressed as women), Ing-ing (Whispers), and Lindeng (Shade, as of a tree).

Asog, directed by Jay Ramon Arroyo, looks into the sensitive issue of incest and male abuse. At the center of the story are the siblings—one is a girl and the other is a transwoman. In the film, the lake becomes a dark element from which the two would escape. It is significant to note how the LGBTQIA+ voices are alive among the youth of this town and in this film, compelling with the gritty performance of the lead actor/actress, Carl Anthony (Camarla) Gabalfin.

Ing-ing and Lindeng alert us to what bothers our young men and women. In Ing-ing, the young man hears voices and he does not know what to do with them. He feels alone and, in gracefully edited scenes, he ends up in spaces that are not within his control.

The film was given a Special Mention certificate.

Lindeng is also about voices, and the shadows that haunt this young man. The terrifying thing is that he is conscious of the shifts in his behavior. He shares this one day to his friend who listens and never judges him. Confident with his narrative, the director relies on the traditional framing of the faces of these two friends whose candor also made them vulnerable.

Amid the brooding point-of-view often adopted by young filmmakers, the director and scriptwriter of Lindeng dared to take the less popular stand of how the young do possess human agency, and that they can act on their fate. The lead, Angelo Espiritu, and the supporting actor, Jose Dominic Gabalfin, were both declared the best in their category. Declared Best Director was John Mark Laguardia who directed Lindeng.

Ely was voted online as the People’s Choice.

The Nakabuhi Short Film Festival is a project of Project Susog, in collaboration with Savage Mind: Arts, Books, Cinema, Kamarin Art Gallery, Fundacion Luis Cabalquinto, and the Local Government Unit of Buhi, led by Mayor Margie Moran-Aguinillo. n

KathNiel celebrates 10 years KATHRYN BERNARDO (left) and Daniel Padilla

THE first quarter of ABS-CBN’s prime-time lineup has experienced a surge. FPJ’s Ang Probinsyano continues to be the network’s most watched teleserye.

Then there’s Broken Marriage Vow, the always-trending Philippine remake of the hit Korean drama. Viral Scandal as the third teleserye in the lineup was critically acclaimed for its brave and novel approach to a very intense social issue among young people nowadays all wrapped in an engaging family drama.

In fact, this writer feels that this is one of the most well-acted shows in recent years.

Suffice it to say, to keep its momentum running, the arrival of 2 Good 2 Be True is very consequential.

It bumped down Broken Marriage Vow to the third prime-time slot. Why not? After all, it is headlined by undoubtedly the most popular loveteam in the country, Daniel Padilla and Kathryn Bernardo, aka “KathNiel.” Not only that, the show has been hyped as a major tentpole in the 10th anniversary of the loveteam, making their fans gaga as their idols finally return to their television screens via broadcast and even thru streaming on Netflix and Viu. But is the starpower of KathNiel enough for a continued resurgence of ABS-CBN? As of now, the answer seems to be yes, as the teleserye is now the most viewed show on Viu and Netflix and the second on the ABS-CBN lineup. But what’s interesting about 2 Good 2 Be True is that the show is more than the stars, as the program is capable of fits of creativity and sincere storytelling joy.

In 2 Good 2 Be True, Daniel plays Eloy, an aspiring lawyer who sidelines as an auto-mechanic to finance his studies. He dreams of becoming a lawyer to free his father, who is in prison for being falsely accused of a major crime. In his quest to free his father, Eloy learns that real-estate magnate Hugo Agcaoli

(Ronaldo Valdez) has something to do with his father’s incarceration and so to help him in his cause, Eloy cons the old man in a variety of identities to be able to befriend him. But Hugo’s intern and trainee Ali (Kathryn) busts Eloy. But Eloy also has a huge secret: she is not an intern but a private nurse for Hugo and is bound to also pretend to be someone else because it would have devastating effects to Hugo’s business if his sickness becomes publicized.

Of course, in the process of Eloy’s and Aly’s catand-mouse antics to crack each other’s secrets, the two will develop feelings for each other.

While the central plot of the show is familiar, it also proves very effective. One of the strengths of the KathNiel loveteam is their aso-pusa dynamics, as evidenced in their early shows and films. Fans are enthralled when the characters that Daniel and Kathryn portray hate each other always at the start, then eventually fall for one another. And it definitely works here in 2 Good 2 Be True, as their gigil dynamics give the early episodes some storytelling energy to work with. One thing that this show has always understood better than many of its contemporaries and imitators is how much its characters can and

should drive its action.

But the good thing is, you don’t have to be a superfan of KathNiel to enjoy the show. As the lead characters peel off each layer to get to truly know one another and find out more about themselves, more than the kilig, there’s funny and even some unpredictable mechanisms used by the frontrunners to keep audiences excited. And this complements well with the show’s treatment, which is very K-drama, with a noticeable faster storytelling pace. The montage at the end of each episode also adds to the Hallyu feels.

2 Good 2 Be True is a significant stop in the continuing journey of the KathNiel tandem. Insiders have told me that the original 10th anniversary teleserye plan for the tandem was supposed to be an epic drama but no thanks to the pandemic and the limitations it has imposed in production, fans are now treated with this K-drama-like program.

Stream advanced episodes of 2 Good 2 Be True on Netflix and iWantTFC. Watch it weeknights at 8:40 PM on Kapamilya Channel, A2Z, TV5, Kapamilya Online Live on ABS-CBN Entertainment’s YouTube channel and Facebook page, Jeepney TV, and Cinemo.

B6 Friday, June 3, 2022

Avon Philippines pushes for planet-kind beauty

Enjoy Lexus vehicle services with your Metrobank Credit Card at zero % interest

L

EXUS believes that creating new standards of luxury is not simply a matter of adding more equipment features and technologies to its vehicles but is also about producing also to produce progressive luxury that welcomes and cares for its clients. This approach is inspired by Omotenashi, which encompasses the finest principles of traditional Japanese hospitality.

The Metrobank Credit Card Zero% Interest Installment Promo is a testament to Lexus’ commitment to providing exceptional service and hospitality to its customers. It reflects the excellence in customer service which has been a cornerstone of the Lexus brand since its foundation more than 30 years ago. It centers on the retailer treating the customer as they would a guest in their own home and exceeding service expectations by anticipating their needs.

With the swipe of your Metrobank credit card, you can avail of Lexus’ vehicle services at zero % interest, and easy installments for up to six months.

This promo is valid until June 30, 2022.

All Lexus customers with applicable Metrobank Credit Cards can enjoy this promotion with the required minimum spend at any the following dealers for their vehicle servicing needs with the following terms: three months 0% installment: Php 20,000 minimum spend; six months 0% installment: Php 40,000 minimum spend.

This promo is offered at Lexus Manila and Lexus accredited dealerships: Toyota Mandaue-South, Cebu; Toyota Davao City, Toyota San Fernando, Pampanga; Toyota Santa Rosa; and Toyota La Union.

This promo is applicable to all Metrobank Peso Visa/Mastercard, Metrobank Vantage Visa/Mastercard, M Mastercard, Titanium Mastercard, Platinum Mastercard, World Mastercard, NCCC Mastercard, PSBank Credit Mastercard, Toyota Mastercard, Rewards Plus Visa, Femme Visa, Femme Signature Visa, Cashback Platinum Visa, and Travel Platinum Visa credit cardholders in good standing.

However, this promo is not applicable with: ON Internet Mastercard, Metrobank Dollar Mastercard, Metrobank PRIME,

Elite, Premier + Debit, Prepaid cards and YAZZ Prepaid Visa. The full installment amount purchased shall be deducted from the cardholder’s available limit.

All installment items and corresponding installment terms are subject governing the issuance and use of Metrobank credit card and all related provisions of the Metrobank credit card 0% installment programs.

This promo is not applicable in conjunction with other Lexus promos or discounts.

To learn more, visit lexus.com. ph and visit our social media pages on Facebook and Instagram @lexusmanila or download the MyLEXUS App available on both Android and iOS users.

GSP to confer the Chief Girl Scout Medal on 387 Girl Scouts for serving their communities amid the pandemic

T

HE COVID-19 pandemic halted our lives. But, for Girl Scouts, serving their communities, in the midst of a pandemic, was living the Girl Scout Promise and Law. On June 3, GSP will confer the Chief Girl Scout Medal to 387 Girl Scouts from all over the Philippines who completed one year of community development project in the areas of health, ecology, livelihood, and cultural heritage.

GSP National President Dr. Cristina Lim-Yuson says, “We are proud and happy that the values of service, generosity, and volunteerism are alive in communities because Girl Scouts undertake projects to address the needs of their communities. At this time, we need Girl Scouts to give hope and inspiration, to encourage change, and to contribute to nation-building.”

The Chief Girl Scout Medal is the highest award a Girl Scout can receive by completing a one-year project that developed her character and helped transform her community. Named after the woman President of the Philippines or the First Lady, the Chief

Girl Scout Medal Scheme is now on its 46th year. For project year 20202021, 122 Girl Scouts from Northern Luzon Region will be awarded the Medal; 15 from Central Luzon; 76 from Southern Luzon; 106 from Visayas; 31 from Eastern Mindanao; and 37 from Western Mindanao.

This year, three Medalists from Pangasinan, Isabela, and Iloilo will be awarded the first-ever Concepcion Rafols Gonzalez (CRG) Award, a financial grant initiated by Atty. Gizela Madrigal Gonzalez in honor of her grandmother, Mrs. Gonzalez. “The CRG Award will help the chosen projects continue and be sustained for another year, in order to serve more beneficiaries.”

Mrs. Concepcion R. Gonzalez was one of the pillars of the Girl Scouts of the Philippines, along with Josefa Llanes Escoda and Pilar Hidalgo Lim. She was the first National Commissioner, dubbed as the “Builder President”.

The awarding ceremonies will be streamed live through the GSP Facebook page, @girlscoutsofthephilippines, on June 3, 1:00 to 5:00 PM.

Beach festival revived as marine biodiversity effort

V

OLUNTEER scuba divers from the Department of Environment and Natural Resources (DENR) and local government units of Sarangani Province lead the underwater collection of the crown of thorns (COT) which prey on the coral reefs of Sarangani Bay, one of the country’s most biodiversityrich protected seascapes. One of Mindanao’s richest bodies of water and diving haven, the bay has been experiencing occasional outbreaks of COTs over the past few years due to the loss of its natural predators such as the Triton trumpet, Napoleon wrasse, whitespotted pufferfish, and titan triggerfish which keep its population in check, as well as the rise in sea surface temperature due to climate change. The four-day environmental initiative is part of the soft revival of the annual Sarangani Bay (SarBay) Festival, regarded as the biggest beach party in the archipelago held at the famed white beach of Gumasa, Glan which was suspended for the past two years due to the Covid-19 pandemic. Aside from the COT collection, the Wake Up Sarbay Festival also includes a bike-for-environment ride which will be participated in by cycling enthusiasts who will plant mangroves in the coastal villages of Malapatan town.

W

HEN Avon said it is doing beauty differently, they meant it in every step of their process. Challenging the industry in the Philippines for 44 years and globally for over 135 years, Avon is on an ambitious journey for long-term sustainability.

The global beauty brand is perfecting every formula with cruelty-free technology, shifting to recyclable packaging, and advocating for community welfare by putting the environment first.

As part of Natura &Co, Avon adheres to a 2030 Commitment to Life that aims to achieve Net Zero Emissions by 2030. And in its efforts toward sustainability, the global beauty brand announced Its first solar-powered facility.

Avon, in collaboration with Spectrum, a subsidiary of the Manila Electric Company (Meralco), inaugurated the solar rooftop project in its manufacturing plant in Calamba Laguna last April 22, in celebration of Earth Day. Since its completion, the solar installation has generated more than 250,000 kilowatthours (kWh) of clean energy, helping the beauty company lower its carbon footprint by 160 tonnes. It is expected to generate almost 841,100 kWh clean energy on its full year of operations, nearly quadrupling the carbon footprint reduced to 599 tonnes or equivalent

to 329,315 trees planted.

“Taking care of our planet is also similar to taking care of the people because the people will be the ones who will benefit when we take care of our planet. We want to highlight that this is the first solar project of Avon, not just in the Philippines, but internationally,” says Tirso Antonio B. Pereja, Avon Products Mfg., Inc. Head of Operations, during the inaugural ceremony.

With its installation of solar panels, Avon joins the roster of international and local companies that engaged Meralco and Spectrum as part of their sustainability journey.

Start your journey towards a more sustainable lifestyle by checking check out Avon www.avonshop.ph or like and check out Avon Philippines on Facebook to find out how you can be part of the beauty of doing good!

Multi-hyphenate Matteo Guidicelli gives his best shot always; relies on Sun Life for health protection

M

ATTEO Guidicelli never does things half-baked. If something sparks his interest, he always gives it his best shot – whether he’s racing in a triathlon, acting in a movie, or venturing into new businesses.

“I like putting myself out there and seeing how far I can go,” he admits.

The confidence with which he pursues his interests can easily be mistaken for mere audacity. However, it is anchored on something deeper: the knowledge that he is in the best of health.

“Being fit and well gives me the freedom to go after the things I want, and it’s always fulfilling,” he says.

Matteo has his parents to thank for being enlightened about the importance of physical wellness at a young age. His father Gianluca was especially a big influence, with Matteo having front-row seats to his own journey towards good health.

“We stayed in the United States for a while and when we came back to the Philippines, my dad was overweight, with his blood pressure and cholesterol nearing danger levels,” Matteo recalls. “His doctors said there were so many things he needed to fix with his health.”

Undaunted, the older Guidicelli bought himself a bike, then started an active lifestyle.

Gianluca swam, bike, and ran regularly until he was in the pink of health again.

“That’s the story of how he started in triathlons and eventually inspired me and my siblings to follow suit,” Matteo says.

Now a married man managing his own businesses and looking forward to starting his own family in the near future, Matteo is even more determined to secure his health. It’s not always easy especially for someone who juggles so many things on a daily basis, and that’s why he relies on his partner in health: Sun Life.

“Being healthy is not just about being fit or eating right. It’s also about making sure you’ll be able to fund expenses in case you become ill.

That’s where my Sun Life health protection plan comes in,” he shares. “It allows me to secure my health and finances. That way, should an illness strike, the medical expenses are covered and I could focus on recovery. I can get back on track with my goals for myself and for my loved ones.”

With Sun Life, Matteo has more confidence to pursue the things he loves. And he’s ready to work hard for it.

“There are no shortcuts to the greatest successes in life. You have to have goals, you have to work hard, and you have to dedicate yourself to that dream,” he muses. “Sometimes, the more na manggigil ka, the higher the chance that you will lose the very thing you aspire. Be patient. Be driven. In the end, it will all be worth it.”

Be inspired by Matteo and make Sun Life your Partner in Health now! Visit https:// sunlife.co/SLPIH to know more.

KL City Art Gallery Kuala Lumpur features Filipinos and other South East Asian artists

F

ILIPINO talents have shone bright in the international art scene via “New Horizon”, an art exhibition organized

by Arth Art International and being held at the KL City Art Gallery in Kuala Lumpur, Malaysia.

The said exhibit features the artworks of more than 30 visual artists from Vietnam, India, Singapore, Malaysia and the Philippines.

Among the Filipino artists is Filipinas Institute for the Advancement of Arts and Culture president Roy Espinosa. He, along with fellow artist Frank Caña, was awarded a certificate of appreciation during a courtesy call at the Philippine Embassy in Malaysia.

The opening last May 20 was attended by esteemed guests from the international community, including ambassadors from Belgium, Argentina, Germany, Cuba, and the Philippines. His Excellency Charles C. Jose gave an inspirational speech at the event also featuring Filipino artist Pancho Piano.

“New Horizon” will run until June 5.

Meanwhile, Espinosa welcomed art collectors and enthusiasts during the opening of his solo exhibit “Emergence last June 1 at The Artologist in Ayala Malls Manila Bay. In this exhibit, Espinosa has again proven his ingenuity in handling the acrylic medium.

Dashes of pigments applied in quick, successive strokes bespeaks of a masterly assurance in depicting his abstracted compositions.

Described as a versatile visual artist and arts and culture advocate, Espinosa’s deep commitment in promoting the Filipino talent and skills both in the local and international art scene exemplified his philanthropic

FILARTS president Roy Espinosa was handed a certificate of appreciation during a courtesy call at the Philippine Embassy in Malaysia. He is among the few Filipinos who are part of the “New Horizon“, an international art exhibition organized by Arth Art International and being held at the KL City Art Gallery in Kuala Lumpur, Malaysia.

The exhibit runs until June 5. disposition as can be seen in his establishment of FILARTS. “Emerging from the blank canvas is apowerful propulsion of vibrant colors, nebulous lines and forms that mimic the explosive birth of the universe, or the vivid exultation found within nature and its lush, virgin landscapes,” said an art critic of Espinosa. “The final outcome presents the viewers of his oeuvres with an uplifting experience caused by the harmonious elucidation of Espinosa’s artistic virtuosity in wielding his brush.”

Espinosa’s “Emergence” art exhibit at The Astrologist will run until June 14.

Sports BusinessMirror

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

Friday, June 3, 2022 B7

Adamson U patron Akari joining pro volleyball league

Lady Spikers silence Laure’s guns, get back at Tigresses in four sets

D

E LA SALLE University silenced Eya Laure’s guns to deal University of Santo Tomas (UST) its second-straight loss, 25-23, 25-17, 22-25, 25-8, on Thursday and snatch second spot in the University Athletic Association of the Philippines Season 84 women’s volleyball tournament at the Mall of Asia Arena in Pasay City.

After a hiccup in the third set, De La Salle made sure that there will be no repeat of its 24-26, 22-25, 25-27, 25-23, 15-12 loss against the same team last May 12 to claim their eighth victory in 10 matches.

“The team showed consistency in this match that the players earned from their straight set wins in previous games,” Lady Spikers assistant coach Benson Bocboc said.

“So far, the players’ performance is rising and there are surprise scorers in this match.”

The Lady Spikers built a 15-point cushion, 23-8, off an Erika Santos hit to hold off UST and terrors by Eya Laure and Mafe Galanza sealed the win for the Taft-based team.

Mars Alba distributed the ball well for De La Salle with 25 excellent sets while also producing five doubledigit scorers in the match.

Leila Cruz introduced herself with 15 points to lead the Lady Spikers in scoring while the towering duo of Fifi Sharma and Thea Gagate produced 15 points each.

Jolina Dela Cruz, on the other hand, finished with a triple-double of 11 points, 14 excellent digs, and 10 excellent receptions while Alleiah Malaluan had 10 points and 10 excellent receptions.

It was a huge win for La Salle which finally beat UST since the battle for second seed entering the semifinals in Season 81.

The Lady Spikers also handed the Golden Tigresses their lowest set output with just eight in the fourth set.

Laure was held to just eight points, her worst outing of the season as UST slipped to 7-4 won-lost to remain in the third spot.

Imee Hernandez and Ypril Tapia led the Tigresses with 12 points apiece.

A

PHILIPPINE Sports Commission Chairman William “Butch” Ramirez chats with President Rodrigo Duterte on Wednesday night in Malacañang. PHOTO COURTESY OF PSC

By Josef Ramos

W

HOEVER gets appointed chairman of the Philippine Sports Commission (PSC) should take it from William “Butch” Ramirez whose six-year administration at the government sports agency ends co-terminus with President Rodrigo Duterte at Malacañang on June 30.

And although Ramirez stands as a potential “re-appointee” by Presidentelect Ferdinand “Bongbong” Marcos Jr. for his unprecedented accomplishments, the Davaoeño twoterm PSC chairman shared parting words of wisdom for his successor and board of commissioners.

“The new chairman and his commissioners must be aware of the environment, their role and partnership with the NSAs [national sports associations] and the POC

THE #AtletangAyala—Nat Perez, Noelito Jose Jr., Prince Alejo, Andrea Robles, Pia Bidaure, Abby Bidaure and Jasmine Alkhaldi—join John Philip Orbeta of the World Archery Philippines and Chief Administrative Officer and Human Resources Officer of ACEN (AC Energy) for a pictorial.

#AtletangAyala pioneers go through orientation

T

HE pioneering batch of #AtletangAyala—who bagged five medals at the Vietnam 31st Southeast Asian Games—started their orientation program as Ayala employees through their membership in the Ayala Center of Excellence in Sports (ACES).

The orientation program was held at Tower One on Ayala Avenue in Makati City.

The batch includes Pia Bidaure, Abby Bidaure and Phoebe Amistoso, who won gold medals in archery’s women’s team recurve; Nat Perez and Noelito Jose Jr., who clinched individual silvers in men’s foil and epee, respectively; and swimmer Jasmine Alkhaldi who claimed silver in women’s 4×100 meters medley relay and bronze for women’s 100 meters butterfly.

Each of the #AtletangAyala will continue to receive full-salaried employment opportunities at part-time hours with free access to

world-class training facilities of the Ayala Vermosa Sports Hub and free enrollment in a selection of courses at De La Salle University.

“I think what made Atletang Ayala different and special is that they’re also concerned about our future not only as an athlete but also as a person,” said Alkhaldi, a London 2012 and Rio 2016 Olympian. “And that’s what sets them apart because for me everyone so far has just been concerned if I win or not.”

“When I heard about Atletang Ayala, I was very excited because we’re not looked at and considered as athletes only,” she said. “We are also considered as citizens of the Philippines who could also give back to the country not only through sports but also in our future careers.”

Through ACES, Ayala found a way to help the next generation of Filipino athletes achieve their full potential built around a belief that sports can inspire and bring together a nation.

WORDS OF WISDOM FROM CHAIR BUTCH

[Philippine Olympic Committee],” Ramirez, 72, said. “Because if he is not forgiving and not humble, there will always be a conflict.”

Ramirez stressed that “being forgiving and humble” are the ingredients to to sustain the success of the Tokyo OIympics in 2021 when weightlifter Hidilyn Diaz won for the country its first Olympic gold medal—a historic feat each and every PSC chairman would wish for.

He, too, emphasized that the next chairman “should learn to practice patience with his surroundings and knows how to deal with the mandate of the commission.”

Politics, he said, are a component that goes with the territory. But a sound approach could handle that.

“There’s always politics in sports—everywhere there’s politics— but it has to be handled very well so that the unifying factor is on top of the dynamics,” Ramirez added, noting that the new chairman and commissioners under incoming President Marcos Jr. must also understands their roles very well.

“The mandate of the PSC is to

support the grassroots programs by working with the local government units and the Department of Education,” he said. “The NSAs must strengthen their focus on the training of their athletes.”

The mandate of the commission, Ramirez said, is to allocate money for all NSAs—about five dozens of them—based on their performances and based on the funds spent on them for the last six to 10 years.

“We should be able to allocate money for all these NSAs based on their performance and the money that they have already spent,” he said.

“They can also secure money from the private sectors.”

Ramirez was first appointed as PSC chairman from 2004 to 2008, the year a 16-year-old Hidilyn Diaz made her Olymic debut as an innocentlooking wildcard. He was reappointed in 2016 when President Rodrigo Duterte was elected President.

Ramirez said 2004, when he first took the PSC helm, and 2016, are poles apart.

“It’s totally different. We didn’t have the experience before, but now

we already have that experience and the money,” Ramirez said.

Money meant more contributions from the Philippine Amusement and Gaming Corp., the PSC’s main feeder for its National Sports Development Fund.

Ramirez said that the success of Tokyo Olympics was purely “hard-earned” and took enormous preparations throughout the years to achieve.

“We are hoping that it can be sustained. The performance of the athletes is the evolution of the past years and they just peaked in our time,” Ramirez said. “We will provide them [new PSC upcoming appointees] with guidelines to sustain the momentum and the drive in what happened for the past six years.”

Asked if he would do an encore at the PSC? “For me, it’s really time to go, but if there’s a call to retain me I might accept it,” he said. “But we have to give somebody a chance to lead the PSC. It’s time for me to go.”

KARI levels up in postpandemic times as it is set to join the Premier Volleyball League (PVL) likely in the seasonending conference of the country’s premier pro league in October.

A long-time sports patron, Akari has supported the Adamson University squad during the 2019 Collegiate Conference on top of backing the sport in the grassroots level for years.

“We are excited to join the PVL. For Akari, it feels like we are graduating college since we are entering the pro ranks,” said Russell Balbacal, sports director of Akari Lighting and Technology Corp. “For years, we have been supporting grassroots and collegiate teams. We feel like this is the right time to go a level higher.”

In 2016, Akari supported Adamson University ‘s men’s basketball, women’s volleyball and pep squads. The company also organized the Akari Cup, a youth volleyball tournament and three years later, supported the Lady Falcons who captured the Collegiate Conference crown.

“We’re glad to welcome Akari to our PVL family. They have been in volleyball for so long and it’s good to see them go into the pro ranks,” said Ricky Palou, president of the organizing Sports Vision.

Akari, which has named Mozzy Ravena as team manager, is currently building up for its maiden appearance, vowing to put up a formidable one given the depth of talents waiting to be tapped.

“The instruction is to form the best team possible,” Balbacal said. “We are out to form a championship-caliber team in the shortest possible time.”

With the PVL popularity and reach, Akari believes its participation will not only help promote the company’s advocacies but also the brand itself.

“We are excited because this will be a huge boost to our brand and will really help our marketing campaigns,” Balbacal said.

The star-studded Creamline topped the PVL Open Conference last April with the league eyeing to stage the PVL Asian Invitational next month while the season-ending Reinforced Conference is tentatively set in October. The other teams are Petro Gazz, Cignal HD, Choco Mucho, F2 Logistics, Chery Tiggo, Black Mamba Army, BaliPure and PLDT.

Fil-Am Green partners with new Asian league

B

RISBANE, Australia—Before Jalen Green joined the Houston Rockets, becoming the highest-drafted Asian American player in the National Basketball Association (NBA), he’d already experienced close up how passionate the people of the Philippines were about the game he loved to play.

It’s part of the reason he’s partnering with the new East Asia Super League as an ambassador, joining the likes of Baron Davis, Metta World Peace and Shane Battier.

The eight-team, pan-regional league will launch in October and feature the winners and runners-up from the Japanese, South Korean and Philippines leagues as well as the Taiwanese champions and the Bay

Area Dragons, a roster of players from across greater China based in Manila for Season 1.

Green, who grew up in California with his Filipino mother, Bree Purganan, already had a big following before he was selected second overall in the draft and made the NBA’s AllRookie team for 2021-22. He played for the US in junior international tournaments, and he got a glimpse of the game in the Philippines during a trip to Manila in 2019.

“The love and support from the Philippines...that experience opened my eyes to just how much basketball means to the country,” Green said. “In the Philippines, they call me ‘idol.’”

That could make him the next big thing.

Big field in Rock ‘n’ Roll run

M

ORE than 4,000 runners have so far signed up with the numbers expected to double up in the next two weeks or so before the Rock ‘n’ Roll Running Series is fired off in Manila on June 19.

This marks the first time that the four-category event will be staged in Southeast Asia, thus

drawing a curious mix of entries, from regular campaigners to weekend and recreational runners all wanting to experience the thrill and excitement of night racing with twists and innovations.

Registration is ongoing at www.runrocknroll.com.manila with onsite registration at Garmin stores (through cash and Gcash

The country’s most legendary sporting export, former world champion boxer Manny Pacquiao, is a big basketball fan and has met with Green.

“He’s a competitor, and the sport isn’t just a career to him, it’s his way of life,” Green said of the lessons he’s taking from Pacquiao’s approach to professional sport. “That’s the type of mindset you must have to be the best at what you do. That’s the ultimate goal, to be the best.”

The Rockets already have a big fan base in Asia, with the eight seasons that Yao Ming spent with Houston raising the sport’s profile exponentially in China.

The domestic leagues have grown, and now the home-and-away regional

league will further enhance basketball’s development in the world’s most heavily populated continent.

“I want to be an inspiration for the next generation of hoopers in Asia and elevate the game in the region,” Green said. “I see East Asia Super League as the gateway for Asian players to make it to the NBA. “It’s going to bring a different dynamic to the region...this is something Asian basketball needs to get to the next level.” AP

mode of payment) at Glorietta I, SM Mall of Asia, SM Megamall, The Podium, Ayala Vertis North, SM North, SM Aura, Uptown and Alabang Town Center.

The 5K and 10K races will flag off at the break of dawn while the 21K and 42K events will be held early evening, according to the organizing Sunrise Events Inc. Fees are pegged at P950 for 5K, P1,850 for 10K, P2,450 for halfmarathon and P2,650 for the 42K run.

For the Remix Challenge, rates are P3,600 for marathon +5K, P4,100 for marathon +10K, P3,800 for half-marathon +5K and P3,400 for half-marathon +10K. Prices, however, may change until slot lasts.

RockNRollMNL (facebook) and asicsrnrmanila (Instagram) are the social media accounts of the event backed by Alaska, Gatorade, the Philippine Star and Lightwater.

JALEN GREEN draws inspiration from the love and support from Filipino fans. AP

B8 Friday, June 3, 2022

Motoring BusinessMirror

Editor: Tet Andolong

Suzuki unveils the all-new Celerio S Story by Randy S. Peregrino

UZUKI Philippines is no stranger when it comes to offering small city cars. Recently, the Japanese automaker has recharged the awareness of its well-received subcompact hatchback by bringing in the all-new Celerio.

Suzuki claims that the Celerio has been one of the mass favorites due to its compact size yet spacious interior. Like its predecessor, the latest generation model takes pride in possessing a small frame yet with a remarkably spacious interior and the fun-to-drive factor that goes with it.

“The All-New Celerio has evolved into a compact car that will make people’s life easier, more convenient, and will allow them to express [their] personality in an age where diversity is expected,” said Norihide Takei, Suzuki Philippines’s general manager for Automobile.

“We are confident that the new Celerio will exceed expectations of customers who seek for both practicality and individuality.”

Liquid expression

From the predecessor’s striking look with sharp profiles, Suzuki transitioned the current generation’s look into a three-dimensional with curved surfaces with what the automaker claims are a “liquid expression.”

According to Suzuki, it resembles a water surface, deviating from its previous boxytype body. This new design concept created the illusion of making the exterior frame, particularly the front end, larger to look at.

Meanwhile, the rear has combination lamps positioned on the shoulder lines. The flared rear fenders emphasize wideness and stability. It complements the vehicle’s larger 15-inch black alloy wheels.

Spacious with convenience features

Like the previous generation, the all-new Celerio retained the remarkable spacious interior. According to Suzuki, the new cabin design now exudes an invigorating vibe with instrument panel features that are uniquely designed, like the fresh dashboard layout and

aircon vent grilles. A 6.2-inch touch-operated infotainment unit with a clear and responsive anti-glare screen is highlighted in the middle.

It also has Weblink 2.0, Bluetooth, and USB connectivity functions with audio controls on steering wheels for convenience.

Space-wise, the latest generation model offers more than generally expected from a subcompact hatchback, whether for the passengers or the luggage area. The vehicle boasts a 295-liter cargo capacity with 60:40 split-folding rear seats to produce more space for sizeable items.

Still fuel-efficient and reliable

Under the hood is an updated and improved 1.0-liter K10C DUALJET gasoline engine.

Power output is at 67 horsepower and 89 N-m of maximum torque. Suzuki claims that the updated 1.0L DUALJET engine delivers comprehensive advantages in thermal efficiency resulting from a better compression ratio, dual-injection system, and friction reduction—realizing a high level of balanced dynamic performance and efficiency. To back it up, the all-new Celerio achieved a 28.25 km/L fuel efficiency rating, as observed by the Automobile Association Philippines (AAP).

Interestingly, this fuel-efficient motor works with a five-speed manual gearbox with Auto Gear Shift (AGS) transmission options.

The AGS transmission is an automated manual transmission featuring Intelligent Shift Control Actuator that automatically operates the shift and clutch to bring convenience to manual driving.

Apart from the AGS transmission, another notable and new feature is the Engine Auto Stop-Start System (EASS). This unique feature shuts off the engine during idle or traffic stops. The feature meets certain conditions

The all-new Celerio with the new “liquid expression” design cue

Remarkably spacious, updated layout with convenient features

to prevent unnecessary fuel consumption and help limit exhaust emissions, including engine noise.

Safety features

For peace of mind, the all-new Celerio offers numerous advanced safety features. The frame design centers on Suzuki’s TECT (Total

Effective Control Technology) concept. It is a structural design that efficiently absorbs and disperses the energy in the event of a collision.

Standard safety features include an antilock brake system (ABS) and Electronic Stability Program (ESP), Dual Airbags, seatbelt with pre-tensioners, rear parking sensors, and Hill-Hold Control.

RSA’s world-class airport on course

T

HE good news is, the world-class airport project of Ramon S. Ang (RSA) has gotten the approval of a crucial export credit insurance (ECI) scheme in the venture’s land development phase.

It is a milestone development as the P740billion San Miguel Corp. game-changer, officially known as the New Manila International Airport (NMAI), can now smoothly proceed with its construction mode sans environmental roadblocks.

The Dutch government, represented by Atradius Dutch State Business (DSB), extended the ECI to Royal Boskalis Westminster N.V., to cover its EUR 1.5 billion contract for land development works at the airport’s site in Bulakan, Bulacan.

The NMIA is the largest project in Boskalis’ over 100-year history, and the biggest export credit agency (ECA) insurance policy granted in the 90-year history of Atradius.

Ang, the SMC president-CEO, thanked the Dutch government for its support to the NMIA, an “aeroport city” with four parallel landing pads to rival, if not surpass, some of the world’s vaunted state-of-the-art terminals.

“This is a significant milestone not only for San Miguel and the NMIA project, but for the entire country,” Ang said. “This also

validates our work with Boskalis to ensure that this project is done right, and will provide long-term economic, environmental, and social benefits to our host communities and Bulacan province.”

In a statement posted on Boskalis’ international website, its CEO Peter Berdowski, said: “I am very pleased that all the hard work with a large team of experts has been successfully completed. For more than a year, we have worked intensively with Atradius DSB to ensure that the construction of the new airport will take place in a socially responsible manner.”

He added: “In collaboration with Atradius DSB, and Dutch embassy, we succeeded in developing a broadly supported plan with an eye for the local community and the preservation of biodiversity. I would like to thank all those involved for their contribution to the positive decision of the State.”

In the same statement, Atradius DSB Managing Director Bert Bruning said: “This project is unique on so many levels. Firstly, of course, it is a very important contract for our client Boskalis and, also for us, it is the largest ECA policy in our 90-year history.”

Ang expressed pride over the successful collaboration between Boskalis and San Miguel, stressing that their constant dialogue

Pricing and color availability

The all-new Celerio is available in Arctic White, Glistening Gray, Fire Red, and Speedy Blue Metallic body colors that Suzuki claims to mark the subcompact hatchback segment.

Price starts at P708,000 and it is available nationwide in all 73 Suzuki Philippines dealerships. had produced “international standards” in the field of environmental and social conditions.

“This shows that the project and our environmental and social mitigation plans are not only sound, but also robust and strong, as attested by the exacting requirements of the Dutch government. It is another testament to the ability of Filipinos to be worldclass,” Ang said.

When completed, Ang said the project— targeted to employ thousands of Filipinos— will generate no less than one million jobs on multiple opportunities provided by modern infrastructure such as a road network of skyways and railways for cars and other mobility protocols going to Bulacan for quick access to the airport.

I can’t wait to see its completion.

EV pitch from Subaru, Honda

A recent Nikkei report said Subaru will soon build Japan’s first electric vehicle (EV) plant. Will that mean it will out-race Toyota in the EV segment?

Also, Honda’s electric-only e-N line pricing strategy is in the works to target China’s middle-class sector, reputedly the world’s biggest EV market. Honda’s cost-cutting spin is its EV strategy?

And, speaking of EVs, China seems headed for EV oversupply as manufacturers rush to swarm capacity as they seek bigger slices of the world’s top auto market.

For now, China’s capacity build-up is placed at $11 billion.

PEE STOP Birthday greetings to Coach Dayong of San Miguel Beer, whose love affair with Toyota started when he purchased a Hilux in 1997. He now alternately drives a Previa and a Fortuner—both bought second-hand.

Happy birthday, Coach!