BusinessMirror June 07, 2022

‘Close borders, Omicroncrisis exposure risk’ Economic teamcut completes playbook By U. Ordinario ByCai Bianca Cuaresma

EC

the world »a13

Putin warns west against sending arms to ukraine; missiles hit kyiv

@caiordinario @BcuaresmaBM

LOSINGmanagers the country’s CONOMIC haveborders finished the is one of the most immediate country’s so-called “systemic risk criof action the governsiscourses management” (SRCM) framework, ment must take prevent thecountry’s lata guideline that willtoserve as the est Covid-19 Omicron, from playbook on howvariant, to assess, handle and resolve reaching Philippine shores, potential crises that will hit theaccordcountry.

In an held at the Bangko Sentral ng ing to event local economists.

Pilipinas Stability T he (BSP) new Manila, var iantFinancial is a threat, Coordination launched e s p e c i a l l yCouncil w it h (FSCC) t he hol id ay s the SRCM framework in more an effort to prepare the coming up and foreigners country identifying risks, anticipating being by a llowed to travel to the shocks and constantly the sysPhilippines, De La enhancing Sa lle Univertem’s against them sit yresilience economist Mar ia Ellabefore Oplasthey happen. told BusinessMirror.

“We seen over the past three Thehave holidays usually bring in decades the Asian Financial Crisis, the Global Overseas Filipino Workers (OFWs) who are eager to spend Christmas

Crisisones, and more withFinancial their loved whilerecently forthe Covid-induced globalregions recession. eigners living in temperate Although haveinhappened usually want these to relax tropical at nearly a decade’s interval countries like the Philippines.between This them, regulators asiswell as the public year’s influx of OFWs expected to do not take unexbe heavier sincecomfort many ofwhen themthe were pected happens.

This isholidays the nature unable to come home for the of crises. They are unexpected but in December 2020. create significant disruptions as they “My recommendation is to protect unfold,” BSP Governor Benjamin Diothe borders. Do not allow people with kno said. a history countries withfull “Asofwetravel moveto forward towards positive cases to enter,” Oplas said. recovery, now is the opportune time “Weto should morerecognizing restrictive. lessons [We look be ahead, havefrom to be] more in termsthe the pastprotective while anticipating of our measures.” possibilities of the future,” he added.

Oplas said that whilehighlights this will befive The framework a setback to some industries, thisand key parts, including coverage is a basic fair measure protocols,considering arrangementthat during thisnormal could help prevent thecan times, specificplacing risks that country in another strict lockdown,

causeshe systemic dislocations, which, said, the economy arrangecan no mentafford. during crisis times and transilonger tions to post-crisis “It is better that weprotocols. do protective “The SRCM is a than strategic preventive measures get docuexment that highlights how posed again. We have a lot toongoing lose,” tasks contribute to crisis Oplas said.

“We should domanagement it now so and initiatives that weidentifying can open just before which Christ-we believe are needed moving forward. mas. If it gets contained, we can open As we develop the tactical plans that it again.” underpin this strategic document, the Ateneo Center for Economic ReSRCM is thus a living document that search and Development (ACERD) evolves with the market and the needs Associate Director Ser Percival of its stakeholders,” Diokno said.

K. Peña-Reyes the Also definedsaid in theclosing SRCM framecountry’s would be effecwork areborders the arrangements or roles tive but should still adhereinto the among the FSCC agencies the anstandards set by the World Health ticipation of potential systemic risks Organization (WHO). to “best organize” the economic reWhat isofneeded, Peña-Reyes told sponse the country under stressed this newspaper, is for travel restricconditions. tions to be put in place swiftly and

The FSCC is anto interagency council for government be proactive in composedthem. of the BSP, the Department imposing ofPrevious Finance, the Insurance Commisinstances when the sion, the Philippine Deposit Insurcountry had the opportunity to imancetravel Corporation and the pose restrictions didSecurities not preandthe Exchange Commission. vent spread of Covid-19. That was Under the framework, mainly because the decisionthe wasFSCC not also identified two specific risks that made immediately, he said. could potentially cause systemic dis“Kung papatay patay [If we’re locations in the local economy. These slow] and we get caught flat-footare Cyber Events and Climate-Related, ed [that’s Risks. risky] We were too reactive instead ofwe proactive “Sometimes, see all thebefore. gains of We should learn from Peñabetter days but we maythat,” be overlookReyes said.

“It’s a delicate ing the underlying signs balancing of vulneract.

We need pushup.testing abilities beingtobuilt While and it is tracing to be properly informed virtually impossible to forecast the ofnext ourcrisis, decisions.

Blanket/shotgun its timing and its specific approaches dire us consenature, thiscould shouldhave not stop from quences on the economy.” being prepared,” Diokno said.

See “Omicron,” A2

DOF SCORED FOR DEBT NATL GOVT BORROWINGS BURDEN BLAME FOR 10 MOS DIP TOGAME P2.75T w w

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n Tuesday, June 7,29,2022 17 17 No.No.52 242 Monday, November 2021Vol.Vol.

US-Asean biz council backs Omicron risk extension of e-commerce spurs revival customs duties of moratorium quarantine rules in PHL

By Bernadette D. Nicolas

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

@BNicolasBM

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

By Andrea E. San Juan

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

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

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

The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO short-term borrowings from Bangko Sentral ng Pilipinas or BSP (P540 PAIN AT THE PUMP A gasoline attendant services a billion), Retail Treasury Bonds/Premotorist on Monday, the eve of a staggering hike of P6.50/liter on myo Bonds (P463.3 billion), Retail diesel —from its current price of P72 pesos per liter—and P2.70/ Onshore Dollar Bonds (P80.84 billiter on gas. The steady climb in fuel prices has prompted public lion). In the same period, there was transport workers theyThis may have to stop plying the

By Jasper Emmanuel Y. Arcalas dating its registry following the to say them. allows everyone toroads, see also a net redemption of Treasury as the huge cost leaves them with a pittance, not enough to feed @jearcalas enactment of the Coconut Farmwho are listed in the registry and if Bills amounting to P43.94 billion. theirFund families: an average P300 adoesn’t day for 16 of driving. ers and Industry Trust law. farmer seehours his name thenStory he Net debt redemption means ROY DOMINGO oncoordinate price hike on A4, ECONOMY. ORE than 3 million Rosales explained that about shall with the PCA imthere were more debts repaid comcoconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent pared to the amount borrowed durworkers are now regisworkers were added to the PCA’s dialogue with coconut farmers. ing the period. By Bernadette D. Nicolas @BNicolasBM & Jovee Marie N. dela Cruztered @joveemarie with the government’s reg2018 list that had about 2.5 million “On the other hand, if people Meanwhile, gross foreign boristry, which serves as the basis coconut farmers and farm workers. would see names on the list and rowings in the same period also for the number of people to be The PCA’s next step is to conthey think they are not coconut contracted by 9.7 percent to P518.7 covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incorbillion from last year’s P574.4 billion.

P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA This was raised through global Philippine Coconut Authority farmers’Byregistry public, providfor immediate action,” added. bonds (P146.17 billion), program Cai U. Ordinario General Retail Price Indexhe [GRPI], (PCA) Deputy Administrator Roel ing everyone@caiordinario the opportunity to Themeasures PCA official noted that loans (P139.98 billion), euro-dewhich the changes in the M. Rosales said about 3.11 million check the veracity of the list, Rothe completion of the initial nominated bonds (P121.97 billion), prices used by retailers to sell theirlist coconut farmers and farm worksales added. of coconut farmersand registry would a project loan (P86.41 billion), and ETAIL construction mategoods to consumers end-users ers have been registered with the “The list will be posted in public be just in time for the expected yen-denominated samurai bonds rial prices in Metro Manila relative to a base year,” PSA said. government since it started upspaces where peoplefor canthe easily see rollout of coconut levy-funded (P24.19 billion).

The data showed the increase increased eighth

HE US-Asean Business Council (US-ABC) supports the extension of the World Trade Organization’s (WTO) e-commerce moratorium as it plays a significant role in driving digital trade, job creation, and economic growth.

In a news statement on Monday, the US-ABC expressed its full support for the extension of the WTO Moratorium on Customs Duties on Electronic Transmissions.

“We suggest WTO members, which include all Asean memberstates, examine a prohibition on these items,” the US-ABC added.

First agreed to in 1998, the Moratorium has never been made permanent and legally binding, but it has been renewed several times at the biennial WTO Ministerial Conferences. The current Moratorium, according to US-ABC, will expire unless renewed at the 12th Ministerial Conference (MC12) in June 2022.

According to the US-ABC President & CEO Ambassador Ted Osius, “The WTO e-commerce Moratorium plays a significant role in driving digital trade, job creation, and programs President Duterte economic as growth.” is expected to sign noted, the industry Further, Osius “Asean’s development plan in early 2022. [micro,small and medium enterRosales said have the PCA noton prises] MSMEs comewill to rely stop updating itsaslist of coconut the moratorium a key facilitator farmers and enjoined them regof global e-commerce andtoinvestister in order to reap the benefits of the decades-long idled coconut levy fund. “We will not stop at 3.1 million. We hope that more individuals will register in our coconut farmers registry,” he said.

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

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

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RETAIL CONSTRUCTION GOODS’ PRICES RISE FOR 8TH MONTH

HE Department of Finance (DOF) said the national government debt this year would have hit P15.4 trillion—higher by P2.2 trillion— had the Duterte administration given in toSeelawmakers’ “Borrowings,” A2 proposed Covid-19 consecutive month in February, according to data from the Philstimulus bills and other “revenue-eroding” Statistics PESO EXCHANGE RATES n US 50.4600 n JAPAN 0.4374 n UK 67.2329ippine n HK 6.4722 Authority n CHINA(PSA).

7.9013 measures, sparking an angry retort from a Based on the Construction Materials Retail Price Index Congress leader.

(CMRPI) in the National Capital

Finance Chief Economist and former Undersecretary Gil Beltran said the government opposed the passage of several stimulus bills since these would further increase deficit and debt.

The chairman of the House Committee on Ways and Means

R

slammed his “aimless finger pointing.” The debt-to-GDP ratio and deficit would not be that big since bigger stimulus bills may have even cushioned the blow of Covid-19 pandemic to the economy, according to Albay Rep. Joey Sarte Salceda.

Region (NCR), retail construction material prices increased 3.3 percent in February 2022.

This was higher than the 1.1-percent growth posted in February 2021 and the 3-percent increase in January 2022.

“The CMRPI is a variant of the

n

in the retail prices of tinsmithry materials was the highest at 5.2 percent in February This SINGAPORE 36.8968 2022. n AUSTRALIA was higher than the 1.8 percent increase posted in February 2021 and 4.2 percent in January 2022.

The PSA said retail prices of plumbing materials also increased 4.5 percent in February 2022. This was higher than the 0.5-percent growth it posted in February 2021 and 3.8-percent in January 2022.

See “3-M farmers,” A2

ment in a region where the internet economy is projected to grow to $1 trillion by 2030.”

Samuel P. Medenilla TheBy Moratorium also empowers e-commerce@sam_medenilla to strengthen investments in innovation, job creation, NATIONA L concerns andNTER economic growth between over the possible spread of the Asean member-states while almore infectious Omicron lowing Asean-based companiesCoto vid-19 variant expand globally.prompted the government to reimpose mandatory The ability for electronic transfacility-based quarantine for all missions to move freely across arriving passengers in the borders also enables thecountry. impleActing Presidential spokespermentation of more efficient trade son Karlo B.measures.

Nograles announced facilitation According onthe Sunday that the for Inter-Agency to Organisation Economic Task Force for the Management Co-operation and Development of Emerging Infectious Diseases (OECD), flourishing digital tech(IATF) suspended the implemennologies such as distributed ledtation its Resolution gers or of blockchain, “haveNo. the150poA (s.2021), effectively imposing tential to create novel ecosystems stricter for all inbound for trade;protocols heping coordinate value travelers. chains by increasing trust and To note, IATF Resolution 150speed of transactions; empowerA had allowed fully vaccinated ing actors; enabling the verificanon-visa from List tion of thetravelers provenance ofGreen products; areas to enter the country withfacilitating the transfer of funds out helping the need for enforce facility-based and better or auquarantine as long as they secure tomate contracts [such as through negative Reverse Transcriptionsmart contracts].”

Polymerase Chain The US-ABC notedReaction that these(RTenPCR) test within 72 hours prior hanced trade facilitation measures to their will not bedeparture. possible without duty-free “Except fordata countries movement of acrossclassified borders. as ‘Red,’ the testing and quarantine Thus, failing to renew the Moratoprotocols for all inbound internarium will leave a gap to experiment tional travelersofindamaging all ports oftariffs entry an application shall comply with testing and to cross-border datathe flows. quarantine protocols for ‘Yellow’ Continued on A2 list countries,” Nograles said, citing the provision of IATF Resolution No. 151-A. He noted Hong Kong, which has confirmed a case of the Omicron variant, will also fall under the Yellow list countries.

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

I

Continued on A2

36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531

Source: BSP (November 26, 2021)

Continued on A5

See “DOF,” A2

PESO EXCHANGE RATES n US 52.8210

n JAPAN 0.4036 n UK 65.9998 n HK 6.7330 n CHINA 7.9311 n SINGAPORE 38.4544 n AUSTRALIA 38.0734 n EU 56.6400 n SAUDI ARABIA 14.0830 Source: BSP (June 6, 2022)

News

BusinessMirror

A2 Tuesday, June 7, 2022

Ousted Tiger Resorts execs to ask SC to clarify SQAO T

By VG Cabuag

@villygc

HE legal counsel of Tiger Resorts Leisure and Entertainment Inc. (TRLEI), the operator of Okada Manila, said they will ask the Supreme Court to clarify its status quo ante order as it have been used by the camp Japanese casino mogul Kazuo Okada to take over the premises of the $2-billion integrated resort and casino.

Estrella Elamparo, senior partner of Divina Law, said Okada may have misled the high court into believing that he still has control of Tiger Resorts using documents prior to his ouster from the company in 2017.

“We’re getting some clarity from the Supreme Court. They used the SQAO as purported authority to employ violence,” Elamparo said in a media briefing.

“We’re hopeful the Supreme Court will act on it very soon. Because the fate of Okada Manila and the 5,000 strong employees of Okada are very uncertain,” she said.

Okada addresses senior staff

Meanwhile, Kazuo Okada on Monday addressed senior management and senior managers of Okada Manila during its first town hall Meeting in five years.

Okada, who declared himself as the company’s chairman, through video conferencing explained to those present the recent events that have occurred during the enforcement of the status quo ante order last May 31.

“Chairman Okada, in his speech, also reassured senior management and managers that he wants nothing more than for Okada Manila’s senior management to have greater interaction and an ‘at arm’s length’

accessibility with his Board of Directors,” according to a statement.

“Chairman Okada also emphasized that it is his fervent desire for all stakeholders to know that his Board of Directors is sincere in its pursuit to better serve the needs of its employees while at the same time elevating Okada Manila to greater heights of success,” it said.

Hong Kong’s Tiger Resorts Asia Ltd. (TRAL) owns 99.99 percent of TRLEI. Both companies are units of Universal Entertainment Corp., a listed company at the Tokyo Stock Exchange.

UEC, meanwhile, is controlled

by Okada Holdings Ltd., a company incorporated in Hong Kong and is controlled by Tomohiro Okada with a 53.47 percent shareholding, while the remainder 46.55 percent is held

by Kazuo Okada.

TRAL issued on June 1 a certification signed by its nominees Takako Okada, Kazuo’s estranged wife, and Kenshi Asano, putting on record that Kazuo Okada had no right over Okada Manila.

“TRAL has not authorized Mr. Kazuo Okada to vote the shares of stock of TRAL in TRLEI, nor represent TRAL in TRLEI’s meetings, nor in any manner act on behalf of

TRAL,” according to the certification.

“Without any authority from TRAL, Mr. Kazuo Okada cannot call any stockholder’s and/or board meetings of TRLEI, nor represent TRAL in all of its dealings nor in any manner conduct or transact its business,” the certification read.

The certification was released after the group of Kazuo Okada stormed Okada Manila on Tuesday last week and ousted the TRLEI’s management and board of directors and installing its own board. They were armed by the said Supreme Court decision, which directed them to observe the status quo prior to the Japanese magnate’s removal as stockholder of the company in 2017.

His group included Antonio “Tonyboy” Cojuangco, former officer Dindo Espeleta—who both were previously ousted from Tiger Resorts—and their legal counsel.

“There cannot be business as usual [at Okada Manila]. The owner TRLEI, already said they do not acknowledge the group of [Kazuo Okada]. So any business or transaction that they will do as a sham or fake board will not be honored by the owners of TRLEI,” Elamparo said.

US-Asean biz council backs extension of e-commerce customs duties moratorium Continued from A1

Further, the US-ABC said, imposing customs duties presents a technological challenge for officials, given the need to harmonize and implement the specific amount and value of electronic transmissions.

This, the US-ABC said, this will also create additional administrative and compliance burdens for MSMEs. “A lift of the Moratorium will be destabilizing to a wide range of industries, including Industry 4.0 advanced/connected manufacturing, that rely on seamless and unimpeded flow of research, design, software, chemical formulations, manufacturing information, and other data which cross multiple borders daily,” US-ABC’s statement read.

Tariffs on the electronic transmissions that help promote research and development (R&D) threaten companies who depend upon technology and data transfers to generate innovations and collaborate with colleagues across borders.

The US-ABC looks forward to continuing to work with Asean government stakeholders to help extend the Moratorium, including content transmitted electronically, and take steps toward a WTO prohibition.

“With such a large and rapidly growing e-commerce consumer base, Asean has an important voice for raising these concerns and helping to drive the conversation for protecting the e-commerce industry with a renewal of the Moratorium,” the US-ABC emphasized.

Since 1984, the US-Asean Business Council has been the premier advocacy organization for US corporations operating within the dynamic Association of Southeast Asian Nations (Asean). Across the globe, the Council’s membership of more than 170 companies generates almost $7 trillion in revenue and employs more than 14.5 million people.

Today, US-ABC’s members include the largest US companies conducting business in Asean, and range from newcomers to the region to companies that have been working in Southeast Asia for more than 100 years.

The Council has nine offices aroundtheglobe:inWashington,DC; New York, NY; Bangkok,Thailand; Hanoi,Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; Singapore; and Yangon, Myanmar.

www.businessmirror.com.ph

DOF...

Continued from A1

“Every single comment that the DOF submits to the House tax committee is listened to, and if we do not adopt their recommendation, at the very least we try to compromise. So, I hope we can avoid aimless finger pointing. The challenge now is to outgrow the debt, and we need to work together,” added Salceda.

“Frankly, I don’t see the point [in DOF’s seeming credit-seeking at the expense of Congress]. First of all, it was Congress that also decided to pursue the kind of stimulus measures that we funded, and what we did not pursue,” said Salceda.

“Second, the figure counts proposals of very similar nature, so I think some double counting may have been done. The only major proposal [the proposed Bayanihan to Arise as One Act] was P1.4 trillion of which P800 billion was in net lending [assets] not current outlay [outflow]. Obviously an overstatement at best,” he added.

According to Salceda, it’s not fair to lump together all the spending bills as if Congress would have enacted all of them without deliberations.

“But assuming no double counting took place, and indeed all distinct provisions from all proposals amounted to some P2.2 trillion, the question to ask is: would GDP have collapsed by as much as it did if we acted with a bigger, more comprehensive stimulus package? Remember, we declined larger than anybody did in 2020. And as the economy declines, so too does revenue collection. So, debt-to-GDP and the deficit would likely not have been as big as simply adding the cost of the proposed stimulus,” he said.

“Lest we forget,” added Salceda, “the Committee on Ways and Means routinely removes tax exemptions and extra tax incentives in proposed bills, and instead aligns them with the tax code. The Committee on Appropriations, which I am Vice Chair of, also routinely deletes special appropriations from revenue-negative bills.”

Salceda also reminded Beltran that Congress partnered with DOF on the entire tax reform program as well as the economic recovery plan of the Duterte administration.

P140-B limit

DESPITE objections from many other stakeholders, Beltran said the DOF worked closely with lawmakers to limit to P140 billion the cost of interventions under the Bayanihan to Recover as One Act, as they considered the impact of additional spending on government borrowings.

“The government did not support several stimulus bills, each proposing hundreds of billions of additional appropriations, precisely because we understood that this would translate into further increases in the deficit and debt,” Beltran said in statement.

“As we have said over the past few years, the government has consistently exercised fiscal prudence in responding to the Covid-19 pandemic. We spent what we had to, but not more than what we could afford.

In fact, had we acquiesced to pressure for us to spend more, our debt would have increased by P2.2 trillion more and reached P 15.4 trillion,” he added.

Among the bills that were included in DOF’s computation were the following: ■ Proposed value-added tax (VAT) exemptions for oil, liquefied petroleum gas (LPG), electricity and other commodities and abolition of other taxes, such as those proposed by Representatives Ferdinand Gaite, Carlos Isagani Zarate, Eufemia Cullamat, Sergio Dagooc, Presley De Jesus, Adriano Ebcas, Arlene Brosas, Godofredo Guya, Alfred Vargas, and Vilma Santos Recto; as well as Senators Grace Poe, Ralph Recto, Juan Miguel Zubiri, Aquilino Pimentel III, Emmanuel Pacquiao and Francis Pangilinan; ■ Various Covid-19 stimulus bills and subsidies, such as those proposed

by Reps. Jose Ma. Clemente Salceda, Stella Luz Quimbo, Sharon Garin, Michael Edgar Aglipay, De Jesus, Guya and Dagooc, and Senator Imee Marcos; ■ Proposed exc lusion of the 13th month pay, performance-based bonus and other income from taxable income, such as those proposed by Representatives Santos Recto and Victor Yap; and the ■ Appropriations for new departments or government entities proposed by various legislators.

To deal with the Covid-19 impact in a “strategic and cost-efficient manner,” Beltran said they secured additional financing from multilateral lenders to procure vaccine supply for the target population.

“The accelerated vaccination program, along with shifting to the alert level system with granular lockdowns and increased public transport capac-

ity, enabled us to aggressively reopen the economy and restore jobs,” he said.

Apart from this, the DOF said “fiscal sustainable economic recovery programs were enacted, including Financial Institutions Strategic Transfer (FIST) Act, which helps banks extend credit to more sectors by allowing them to offload non-performing assets and non-performing loans to FIST corporations; and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which balanced a reduction in the corporate income tax (CIT) rate with the rationalization of fiscal incentives.

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

The national government’s debtto-GDP ratio as of the first quarter of the year rose 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 debtto-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration.

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

Debt

ACCORDING to Salceda, it doesn’t matter how much a country borrows, and “what matters is how much it borrows relative to how much it earns.”

“What should matter is whether our debt is growing faster than the size of our economy. Because if we are significantly outpacing debt growth, it means we are spending our borrowings right—and we can pay our debts well,” he added.

Pointing to the Philippines’s debtto-GDP of 61 percent, Salceda said, “that’s high, but not too high, especially given our recent GDP growth rate.”

“PGMA [former president Gloria Macapagal-Arroyo] spent the entirety of her first term with continually rising debt levels above 60 percent, which prompted us to undertake the RVAT reforms that, in turn, saved us from fiscal crisis in time for PNOY [former president Benigno Aquino III] to benefit from expanded fiscal space,” he said.

Salceda, however, said the country’s debt-to-GDP level is expected to decline every year from 2023.

“And credit rating agencies have suggested that as long as our fiscal conditions do not deteriorate, we should be okay. So, as long as we can keep this level going down, and make enough fiscal space for surprise events, we wouldn’t be in deep trouble,” he said.

“My own take is, let’s create the additional fiscal space—my estimate is around P326 billion annually, eventually—so that we can keep funding BBB [Build, Build, Build], UHC [Universal HealthCare], Free College, 4Ps, and other social and economic services that are important to our people, without funding debt service with more debt. I will work with the new economic team to figure that out,” Salceda added.

Proposals for next govt

THE DOF recently 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.

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

To prevent the government from using borrowings to pay for the P3.2 trillion in incremental debt incurred during the Covid-19 pandemic, the Bureau of the Treasury said at least P249 billion per year in incremental revenues must be raised.

Estimated to generate an annual average of P349.3 billion in revenues, the proposed fiscal consolidation plan will not only help the government accomplish this, but it will also help the country reduce its debt as a share of its economy from the projected 60.7 percent this year to 55.4 percent in 2025. Without the reforms, the country’s debt-to-GDP ratio in 2025 is seen to reach 58.2 percent.

www.businessmirror.com.ph

The Nation BusinessMirror

Drilon’s advice to Duque: Hire a good legal counsel

By Butch Fernandez

@butchfBM

O

UTGOING Senate Minority Leader Franklin M. Drilon asserted on Monday the culpability of Health Secretary Francisco Duque III in allowing the Pharmally pandemic supplies scandal to happen, and advised the health chief to “get a good lawyer.”

The Pharmally “plunder” could not have happened, said Drilon, if Duque did not unilaterally approve the transfer of P42-billion Department of Health (DOH) funds for Covid response to the Department of Budget and Management’s Procurement Service (PS-DBM), giving the latter a carte blanche authority to dispense with billions of pesos on questioned bidding and procurements that favored a low-capital start-up like Pharmally Pharmaceuticals Corp. to corner an estimated P10 billion in supply contracts.

In an ANC interview, Duque said he had “no regrets” in transferring the funds because an urgent task had to be done—Covid response— and DOH had its hands full with so much. He said he “trusted the institution, not the persons,” and could not have foreseen how PSDBM would handle the billions of money he shifted to it.

Drilon said Duque needs a good lawyer because he is a “principal by indispensable cooperation” in the mishandling of funds, based on the Revised Penal Code.

In 2020, as soon as DOH transferred the P42 billion to it, the PS, under Lloyd Christopher Lao, proceeded to source face masks, face shields and other Covid-19-related supplies from Pharmally, which not only was capitalized at a low P650,000 but also had no track record in manufacturing or sourcing such huge shipment.

However, it had the backing of Davao City-based businessman Michael Yang, a friend of President Duterte, who claimed all he did was link up Pharmally executives to Chinese suppliers, though Pharmally’s president told Senate probers they also got some loans from Yang.

In his ANC interview, Duque, admitted he transferred funds from DOH because he believed the PS-DBM could source the supplies faster and these were needed urgently.

The draft and partial report of the Senate Blue Ribbon Committee tagged Duque among those to be charged for plunder.

Last week, after failing to get the requisite number of signatures to send his draft Blue Ribbon report to plenary before the Senate adjourned sine die, Blue Ribbon Chairman Sen. Richard J. Gordon said that even if the report was not tackled in plenary, 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, “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 some of the highest officials in the government who sought the obstruction of the pursuit of justice and truth.”

Gordon said these would include Dargani and Ong, other Pharmally executives, and government officials like Lloyd Christopher Lao and Rex Liong, who like Lao was formerly with PS-DBM, but was later appointed overall deputy ombudsman.

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.

Editor: Vittorio V. Vitug • Tuesday, June 7, 2022 A3

Govt lawyers ask SC to junk plea questioning BBM’s qualifications

By Joel R. San Juan @jrsanjuan1573

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HE Office of the Solicitor General (OSG) has asked the Supreme Court to junk the petition filed by martial law human rights victims seeking to prevent President-elect Ferdinand “Bongbong” Marcos Jr. from assuming his post should be dismissed for being moot.

The petition filed by several groups of martial law victims, according to Solicitor General Jose Calida, has become meet since Marcos Jr., has already been proclaimed by the joint Congress, sitting as the National Board of Canvassers (NBOC), as the winner of the May 9 presidential race and the incoming Chief Executive.

Calida added that the petitions is “doomed” from the start since it is based on “incredulous and misleading narrative” that Marcos Jr., was

not qualified to run for President.

Marcos Jr. is the son of the late strongman former President Ferdinand Marcos Sr., who was ousted in 1986 through the so-called Edsa People Power Revolt.

The OSG filed its comment before the SC as counsel for the Commission on Elections (Comelec), which is one of the respondents in the petition. Calida said any objections as to the President’s qualifications should be filed before the Presidential Electoral Tribunal (PET).

“Congress had already steered the course of the next six years when it upheld the people’s will and declared private respondent as the Presidentelect. The electoral mandate from the sovereign Filipino people is the ultimate political expression that cannot be assailed at all. It now behooves the Honorable Court to take the helm and steady the rudder onto the path of unity,” Calida said.

It can be recalled that the peti-

tioners went to the SC after their pleas seeking to disqualify Marcos from running in the elections were dismissed by the Comelec Second Division and their Motion for Reconsideration was also turned down by the Comelec en banc.

The Buenafe et al petition, seeks to set aside the January 17, 2022 and May 10, 2022 resolutions of the Comelec, which dismissed for lack of merit the petition they filed against Marcos Jr., for the denial or cancellation of his certificate of candidacy for the position of President, and denying his motion for partial reconsideration, respectively.

The petition was anchored on Marcos Jr.’s alleged failure to file income tax returns from 1982 to 1985 while he was a public official in Ilocos Norte.

The petitioners argued that the Comelec committed grave abuse of discretion when it gave weight to Marcos’s material representation

Full transparency in Malampaya project deal with Razon pressed

S LAST CALL FOR COVID-19 SHOTS IN MANILA

A health-care worker administers a booster shot to an elderly woman at a drive thru vaccination area at the Quirino Grandstand in Manila. The 24/7 vaccination and Covid-19 swab testing, launched in January amid a spike of cases, at the grandstand will end on Tuesday, June 7, the local government announced in an advisory. Data showed that 3,453,766 shots were administered as of Saturday afternoon. Of this number, 1,707,714 were for the second primary dose. NONIE REYES

Prayers and assistance sought amid Mt. Bulusan’s restiveness

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HURCH organizations have called for assistance and prayers for residents affected by the phreatic eruption of Mt. Bulusan in Sorsogon over the weekend.

In an interview with Church-run Radio Veritas, Caritas Sorsogon Director George Fajardo disclosed that at least 45 families or 150 individuals were already evacuated from the municipality of Juban in Sorsogon because of the volcano’s recent activity.

They are currently staying in the evacuation center of the local government unit in Juban.

He said the Diocese of Sorsogon had already asked for help for the affected individuals.

“As per MDRRMO [Municipal Disaster Risk Reduction and Management Office] Juban, beddings, masks, food pack, bottled water are the immediate needs in the evacuation center plus respiratory meds/ interventions,” Fajardo said.

For its part, Caritas Manila posted an appeal on its FB page, urging the public to pray for the safety of the people living around Mt. Bulusan.

“Almighty Father, You are the God of water, earth and sky. By your great power and mighty strength, You created the universe. The earth is filled with Your glory,” Caritas Manila said in its prayer.

“With humble hearts, we approach Your throne. We ask that You

restore the calmness of Bulusan Volcano. We know nothing is impossible to You and You are always in control.

May the boiling lava subside and molten rocks cool down,” it added.

The Philippine Institute of Volcanology and Seismology (Phivolcs) hoisted Alert Level 1 for Mt. Bulusan after it released a 1-kilometer tall plume resulting in ashfall in its surrounding areas, including the municipalities of Juban and Casiguran.

In a televised interview, Phivolcs chief Undersecretary Renato U. Solidum Jr. said they are yet to raise a higher alert level for Mt. Bulusan, which will result in more mass evacuation since they have yet to detect

any magma from the volcano.

“We have yet to recommend evacuation. But the local government can have a temporary evacuation if there will be a heavy ash fall in their areas,” Solidum said.

The National Disaster Risk Reduction and Management Council (NDRRMC), meanwhile, said classes in threeschoolslocatedatBarangaysSapa, SangkayonandAñoginJubanwerealso suspended following the ashfall.

The Philippine National Police has been put on full alert in order in response to Bulusan’s explosion Personnel of the Bulusan Municipal Police Station, in coordination with police stations in the vicinity, are continuously monitoring the

activity of the volcano for possible evacuation, search and rescue operations of affected residents in four barangays.

The Bulusan police and the MDRRMO have alerted residents near the four kilometer permanent danger zone to be wary of the dangers of Bulusan and prepare for evacuation if needed.

“I know that the situation may also be difficult for our police personnel because their lives can also be at risk, but they have shown genuine service by way of monitoring and responding to this unfortunate event,” PNP Officer in Charge Lt. Gen. Vicente Danao Jr. said.

Samuel P. Medenilla and Rene Acosta

PHL, Japan, Indonesia conclude regional maritime pollution exercise

By Rene Acosta @reneacostaBM

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HE Philippine Coast Guard (PCG) rendered arrival ceremony on Monday to its contingent made up of four vessels that participated in the Regional Marine Pollution Exercise (Marpolex) that was held in the waters of Indonesia and joined by its counterparts from that country and Japan.

The ceremony was led by PCG Commandant Admiral Artemio Abu, who said the exercise has improved the organization’s strategies and techniques through effective assessment in combating oil spills and other maritime emergencies, which require search and

that he is eligible for the position of President and that he has not been convicted of a crime punishable with the penalty of perpetual disqualification from public office.

But the OSG insisted that the instances cited by the petitioners do not constitute false material representation because Marcos Jr., was never convicted of an offense that imposed the penalty of perpetual disqualification to hold public office.

Also last June 2, the OSG filed before the High Court, in behalf of the House of Representatives, an Opposition Ad Cautelam stating that the SC lacks jurisdiction over the House of Representatives and the Senate that acted jointly as the NBOC, performing its function to proclaim the winning president and vice president.

Under the Constitution, Congress has the mandatory duty to canvass and proclaim the winners of the presidential and vice presidential elections without delay and restraint.

THE BRP Gabriela Silang, the first offshore patrol vessel and currently the second largest and most modern vessel of the Philippine Coast Guard, arrives at Pier 13 in Manila after participating in the Regional Marine Pollution Exercises (Marpolex) in Makassar, Indonesia, from May 22 to 29, 2022. Marpolex is an integrated oil-spill response exercise conducted every two years by the Philippines, Indonesia and Japan in line with the provisions of the 1981 Sulu Sulawesi Oil Spill Network Plan. ROY DOMINGO

rescue missions, firefighting and information operations.

“Our continuing partnership with the Directorate General for Sea Transportation [DGST] of Indonesia and the Japan Coast Guard [JCG] also strengthened our interoperability which was a victory for all of us! Our contingent brought pride not only to the PCG but also to the Philippines.

They have represented our organization and our country with great pride and honor,” Abu said.

“I would like to convey my sincere appreciation and gratitude to all the participants, planners, controllers, members of the task group, and the Secretariat who dedicated their efforts and time to make the Regional

Marpolex 2022 an overwhelming success,” he added.

Abu conferred the “Outstanding Achievement Medal” to the officers and 374 other members of the contingent.

Dur ing t he Ma r pole x, t he PCG, DGST and JCG conducted search and rescue, firefighting and oil spill response to test, e v a lu ate, a nd i mprove t hei r maritime capabilities.

The biennial Marpolex is an implementation of the 1981 Sulawesi Sea Oil Spill Response Network Plan Agreement. The Regional Marpolex 2022 was the 22nd conduct of the maritime exercise since its creation in 1986.

EN.SherwinGatchalianstressed on Monday that the entry of a company of tycoon Enrique Razon in the Malampaya Gas Project should be “fully transparent and pass through the proper process,” reminding the Department of Energy (DOE) to “ensure public interest is upheld” in approving the most recent Malampaya deal to be consummated by the Duterte administration.

At the outset, Gatchalian, chairman of the Senate Committee on Energy, underscored the need to protect the nation’s interest “above everything else,” reminding DOE to ensure existing laws and regulations are followed before giving its consent to the impending entry of Razon-led Prime Infrastructure Holdings Inc. (Prime Infra) in the Malampaya gasto-power project.

The senator noted “the mere fact that the business unit of Dennis Uy’s Udenna Corp., which took over the 45-percent stake of Chevron Malampaya LLC, is now disposing of its hold in the gas field project negates the DOE’s earlier assertions that UC Malampaya Philippines Pte. Ltd. was financially and technically capable from the very beginning.”

Gatchalian recalled recent development concerning Malampaya’s operations also affirmed his previous claims the DOE railroaded the approval of the transfer of a substantial participating interest in the gas project that, he asserted, “clearly states that the DOE violated laws.”

In the same statement, the senator said, “the law is clear that Department Circular 2007-04-0003 mandates that the rights and obligations under a petroleum service contract executed under Presidential Decree 87 shall not be assigned or transferred without prior approval of the DOE.” He affirmed that such a transaction likewise required securing the consent of other members of the Malampaya consortium that includes the state-owned Philippine National Oil Company-Exploration Corp. (PNOC-EC), which holds the remaining 10-percent interest in Malampaya, while Shell Philippines Exploration B.V. (SPEX) holds the 45-percent controlling interest in Petroleum Service Contract 38 (SC 38), which is the Malampaya gas field.

Moreover, Gatchalian also aired his belief that Prime Infra is willing to go through the process, as the senator signaled openness in being scrutinized under existing regulatory approval processes to ensure that the deal to be sealed is above board. Butch Fernandez

A4 Tuesday, June 7, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

₧20/kilo rice ‘possible’ through DAR farm project

By Jonathan L. Mayuga

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@jonlmayuga

FFICIALS of the Department of Agrarian Reform (DAR) said it is possible to bring down the price of rice to around P20 per kilo as promised by Presi-

dent-elect Ferdinand “Bongbong” Marcos Jr. They see the realization of the campaign promise through the implementation of the agency’s “mega farms” project, an initiative conceived by DAR Secretary Bernie Cruz.

Cruz, the proponent of the project, said the plan is to consolidate small farm lots into clusters of farms or mega farms dedicated to rice production.

“The mega farm is a cluster of contiguous farms that are consolidated to form a sizable

plantation capable of producing a large volume of farm products to meet the demands of consumers,” Cruz said.

“From the studies, we conducted in the mega farms project, we found out that not only is the P20-a-kilo rice achievable, but it will also be profitable for our agrarian reform beneficiaries [ARB],” Cruz said.

Cruz said that the DAR has come up with a program called “Programang Benteng Bigas sa Mamamayan” (PBBM) under the mega

farm project.

DAR Undersecretary David Erro, who is a co-proponent of mega farms, said the PBBM would initially start with 150,000 hectares rice land under the coverage of the Comprehensive Agrarian Reform Program (CARP) and adjacent small farm lots.

According to studies made by the DAR, a 150,000-hectare riceland can produce an average of 142 cavans of rice per hectare per cropping season. This translates to a gain of

P76,501.00 annually for ARBs. “We Filipinos have a daily average per capita consumption of rice at 301 grams or 109.9 kilograms per year. With that figure, this project can feed around 9 million poor Filipinos in our country,” Erro said.

“If our PBBM project under the project pushes through, it will not only lower the price of rice to P20, but it will also liberate the farmer-beneficiaries of CARP from subsistence farming,” Erro said.

On World Environment Day, Lazada and Shopee told to cut plastic waste

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ARKING the celebration of the World Environment Day on June 5, EcoWaste Coalition, a waste and pollution watchdog called two of the leading e-commerce firms in the Philippines to cut back on the use of disposable plastics for their packaging and deliveries.

“Lazada and Shopee will again hold a midyear grand sale starting June 6 which will add to more packaging and the plastic waste being burned or dumped into our environ-

ment. We urge these companies to implement a genuine plastic use reduction scheme and to support their sellers and logistic providers to implement similar measures,” Coleen Salamat, Plastic Solutions Campaigner of EcoWaste Coalition said in a news statement.

The rapid growth of e-commerce was observed during the Covid-19 pandemic.

According to the Department of Trade and Industry (DTI), the sector is valued at P1.2 trillion, which is equivalent to 5.5 percent of

the country’s economy in 2022.

Plastic waste generated from e-commerce packaging adds an unnecessary burden to cities and communities that are already having a hard time coping with increased solid waste brought by the pandemic, EcoWaste lamented.

“Lazada and Shopee should be responsible for the waste that they help create and support global efforts to save our climate and environment. Cutting back on their

plastic waste should be a very simple step for these multimillion companies. Let us stop sacrificing our environment for profit,” said Salamat.

Last October 2021, more than 15,000 individuals signed a petition by Youth Strike for Climate Philippines and Greenpeace demanding Lazada and Shopee to reduce unnecessary plastics such as bubble wraps, and multi-layer plastics used in packages and deliveries. Jonathan L. Mayuga

Oil firms raise fuel pump prices

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IL firms are set to implement another hefty oil price increase this week.

They said in separate advisories that diesel price will go up by P6.55 per liter, kerosene by P5.45 per liter and gasoline

by P2.70 per liter.

The oil price increase takes effect at 6 a.m. of Tuesday, June 7.

This was announced by Phoenix, PTT, Caltex, Seaoil, Unioil, Total, Shell, and Petron on Monday afternoon. Other oil firms are expected to follow suit.

Lenie Lectura

The ‘perfect storm’

By Henry J. Schumacher

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Y today’s story is about the “perfect storm”—a metaphor borrowed from a best-seller book and a hit movie and meaning the maximum worst-case scenario. Inflation, broken supply chains, recession, pandemic and the Ukraine war all point to this.

Some trends can be clearly seen: • Total globalization is becoming a regionalized world economy. This includes the conscious safeguarding and diversification of supply chains, thinking and optimizing in economic blocs (“friend-shoring”). Including the need to get the Regional Comprehensive Economic Partnership (RCEP) going, including the Philippines.

• Inflation is returning and will make the differences between rich and poor countries even more pronounced. Hunger in Africa and Asia is increasing with more expensive fertilizers and food.

• After years of excessive debt, the financial resources to fuel growth are often lacking. The incoming Department of Finance Secretary Diokno will have to find the resources without undermining his successful capabilities in running the Philippine central bank.

After the zigzag course on the stock exchanges, there is a risk of further severe setbacks, to which the disenchantment of the previously grotesquely overvalued tech companies is making a significant contribution. Stockbrokers are not sensitive and talk about the “dead cat bounce”: The cat that fell out of the high-rise bounces up again after the impact, but no longer comes to life.

And then there is the EY group, which played an embarrassing role as

the auditor of the collapsed companies Zeromax in Switzerland and especially Wirecard in Germany. Now the network of independent companies and partners with its 312,000 employees is planning a radical step that the then EU Commissioner Michel Barnier wanted to make a legal obligation a good 10 years ago: the separation into two areas, one for auditing and one for consulting. That would be the most extreme break in two decades for the “Big Four,” which also includes PwC, Deloitte and KPMG. The oligopoly apparently wants to escape tougher regulation.

More and more people are asking themselves: How can you actually examine companies independently, critically and severely on behalf of the state if, on the other hand, you are advising them and telling them how they can minimize tax payments to the same state via tax havens?

The perfect storm also includes data management. The nature of data analytics is changing so fast that many businesses struggle to understand what tools and approaches they should consider.

Companies that fall behind are either failing to act or are focusing on the wrong issues. As a result, they are getting outdone by competitors, often digital natives, who understand how to make the most of modern methods.

What matters most now are the three Ds of data in the cloud: diversity, distribution, and dynamics.

The three Ds concern the different challenges of data, where that data comes from, and how to manage information that is changing moment to moment.

Other critical factors for achieving a modern data environment include treating artificial intelligence (AI) and machine learning (ML) as real concepts, not just theoretical ideas; and enabling data to go from anywhere to anywhere—for example, from ML models or cloud data platforms back into operational systems in a more enriched state—rather than following a linear path from source to analysis to dashboard.

Have I scared you about the perfect storm? Let’s go back to the main topic of data management and understand how important the three Ds of data are.

The three Ds concern the different challenges of data, where that data comes from, and how to manage information that is changing moment to moment.

If you require more information on some of the ‘perform storm’ issues, please contact me at hjschumacher59@gmail.com

News BusinessMirror

www.businessmirror.com.ph

BBM’s party spent ₧272M for May 9 polls

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HE political party of presidentelect Ferdinand “Bongbong” R. Marcos Jr. spent over P272 million for the May 9, 2022 polls.

This was contained in the Statement of Contribution and Expenditures (SOCE) of the Partido Federal ng Pilipinas (PFP) submitted to the Commission on Elections Campaign Finance Office (Comelec-CFO) on Monday.

Under the 400-page SOCE, PFP said the amount it spent was below the maximum expenditure of P337 million it was allowed by law to spend for a national political party.

“The PFP SOCE was signed and prepared by PFP National Treasurer Antonio Ernesto ‘Anton’ Lagdameo, who was recently nominated by President-elect Ferdinand Marcos, Jr. as his SAP or Special Assistant to the President,” PFP General Counsel George S. Briones said in a news statement issued on Monday.

Under Republic Act 7166, political parties are allowed to spend P5 per every voter in the constituency or constituencies, where it has official candidates.

Come lec sa id t here were 65,831,792 registered local voters for the May 9, 2022 polls.

All candidates, who participated in the recently concluded elections, are required to submit their SOCE with the Comelec-CFO before June 8, 2022. Those who fail to submit their SOCE on time could be held liable for an election offense, which has penalty of imprisonment and perpetual disqualification from holding public office. Samuel P. Medenilla

Malabon LGU receive trash collector from DENR, DOST

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HE Department of Environment and Natural Resources (DENR) and the Department of Science and Technology (DOST) has recently turned a P7.6-million automatic trash rake facility to the local government unit (LGU) of Malabon City.

The Malabon City Engineering Department and DOST-Metals Industry Research and Development Center designed the ATR facility, which was installed at Letre Creek along P. Aquino Avenue in Barangay Tonsuya, Malabon City.

It features a better trash collection rate and can lift large-sized trash along the creek, unclog drainage systems, boost waste management capabilities, and collect wastes in waterways faster and easier, especially during the rainy season.

Unclogging of drainage systems are often done manually and requires manpower, and will still take days, if not weeks or months to do the job.

In a news statement, DENR Acting Secretary Jim O. Sampulna said the facility serves as an “alternative measure to improve flood control operation through better trash collection rate with the capability of lifting large-sized trash along creeks and unclog drainage systems.”

The ATR facility will keep floating debris, leaves, and other solid waste from entering the Malabon-NavotasTullahan-Tinajeros or MaNaTuTi River System, while supporting the ongoing Manila Bay Rehabilitation Program or the “Battle for Manila Bay.” During the turnover ceremony held on May 27, Sampulna underscored the valuable contribution of strategic partnerships with other government agencies to successfully implement various environmental programs and policies in the country.

“We have to protect our countrymen and act with urgency. This is the very reason the DENR has been constantly pushing for sustainable projects and forging a strategic partnership with various government agencies like the DOST,” Sampulna said. Jonathan L. Mayuga

Tuesday, June 7, 2022 A5

Concepcion: PHL must aim for 6% to 8% growth to settle obligations

By Andrea San Juan

P

RESIDENTIAL Adviser for Entrepreneurship Jose Maria A. Concepcion III said the government and private sector must come up with a plan that will allow the Philippines to grow by 6 percent to 8 percent to pay the country’s obligations.

“So I believe that we should start planning on what to do, whose role, what is the role of the Filipino citizen after this state of public health emergency is lifted. So we know we have at least a short to medium-term plan the way I look at it,” said Concepcion in a televised interview on Monday.

This, after the Go Negosyo founder said last week that 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).

Concepcion now laid out on the table his concrete reasons based on the economic issues that the Philippines is currently facing such as the country’s growing debt and the unabated price increases on fuel and commodities brought by the conflict between Ukraine and Russia, among others.

“Considering that we are incurring more debt because of the pandemic, and of course ’yung expansion natin ’yung mga BBB projects, na tama naman dapat gawin ’yan,” said Concepcion.

“So the country is borrowing more money and our debt in fact will continue to increase so if the growth starts to slow down because of the Ukraine-Russia crisis dahil sa very high prices syempre

baka hindi kaya ng consumers natin,” added Concepcion.

In view of the projected impact on the economy, Concepcion said that the Philippines should aim for around 6 percent to 8 percent of gross domestic product to be able to ease the debt burden.

According to last week’s report by BusinessMirror, the national government’s outstanding debt soared to another record high at P12.76 trillion as of end-April.

“Then you’re at risk for slowing down the economy, we have to hit close to 6 percent to 8 percent of GDP to be able to sustain and pay our obligations,” Concepcion stressed.

On addressing future budget concerns, the Go Negosyo founder said that the private sector should openly discuss the source of the budget with the government once the state of public health emergency is lifted.

Concepcion pointed out “the state of public health emergency has one good use, and that is you can source the funds for all of these medicines and vaccines, etc. Those are needed in the pandemic.”

“Kailangan we should start to discuss kasi the concern is that kapag tinanggal iyong public health emergency, iyong pagkukunan ng budget nila, mga pagbibili ng bakuna at medisina ay baka mawala, ano,” he added.

On the alert level system, the Go Negosyo founder emphasized that the Philippine economy cannot afford to bring up the Alert Level 1.

In fact, he said, the country is already in that spot that is ready for the removal of the state of public health emergency.

However, Concepcion stressed, there is still a need to urge the public to continue taking booster shots. He mentioned, though, that the private

Tiger Resort execs file charges over ‘violent takeover’ at Okada Mla

continued from a16

“More importantly, contrary to respondents’ representation, they were not armed with a writ during the time that they were violently ejecting us from the Hotel and Retail Operations Office and Golden Ballroom,” he added.

For his part, Lorenzana said in his complaint-affidavit that the respondents “took the law into their hands, without regard to law and due process, just so they could swiftly take over the premises of Okada Manila and usurp the Board of Directors and Officers of TRLEI.” Lorenzana said the respondents should also be indicted for slight physical injuries under Article 266 of the RPC. He said he was physically restrained and dragged outside of the office premises and the forcible eviction that the security guards carried out last May 31 caused further injuries upon him.

With regard to unjust vexation, Hajima and Lorenzana claimed that the series of acts committed by respondents caused them immense annoyance, irritation, distress and disturbance.

Tokuda, who filed a more serious offense of kidnapping and serious ille-

gal detention against the respondents, said Okada’s group deprived him of liberty during the violent takeover of the hotel’s premises.

“Applying the foregoing, it is apparent that respondents security personnel, who repeatedly admitted that they were acting upon the directive of respondents Kazuo, Cojuangco, Espeleta, Herrera and other respondents who claimed to be the purported Board of TRLEI, succeeded in depriving me of my liberty when they forcibly took me out of the Golden Ballroom, into the elevator, basement parking, and ultimately to an unidentified vehicle,” Tokuda said.

“I remained at the mercy and control of these respondents, acting through the security personnel who implemented their plans, as shown by the fact that I had to beg them to allow me to contact my personal driver so that we could safely go home, but to no avail,” he added.

Tokuda stressed that he was detained without a valid order but merely on the pretext that the respondents were implementing a SQAO. “However, as shown in the attached

sworn statements and videos, when these respondents security personnel were asked to produce either the writ and/or SQAO to determine whether they indeed had the authority to forcefully eject the key officers of TRLEI and our lawyers, they could not produce anything,” the complainant added.

The lack of authority to take over the operations of the casino-hotel, according to Tokuda, was admitted by Okada’s camp when they filed a manifestation before the Supreme Court on May 4, 2022 asking it to rule on whether the SQAO includes the power to allow access, physical or otherwise, to the Office of the Chairman and CEO, other corporate offices, corporate files, records and/or documents, and all assets of TRLEI and yield possession and control of the same.

“Clearly, respondents jumped the gun, in a brutal and inhumane manner, to deprive the Supreme Court with the opportunity to rule on the issue raised in the said motion. Respondents were racing to beat the resolution of respondent Kazuo’s own motion, and in the process, committed criminal acts,” he added.

CIAC employees get ₧25,000 CNA bonus

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LARK FREEPORT ZONE—The government-run Clark International Airport Corp. on Monday granted the P25,000 Collective Negotiation Agreement (CNA) incentives for each of the agency’s 114 employees.

CI AC President A aron Aquino said CI AC distr ibuted the incentives after the agenc y was able to comply w ith a l l the requirements of the Depar tment of Budget and Management Circu lar No. 2020 - 05 or the Guidelines on the Grant of the Col lective Negotiation Agreement Incentive for fisca l year 2020.

“Our successful Collective Bargaining Agreement with the CIAC labor union includes a mutually-agreed provision of strict cost-cutting measures in meeting the performance targets of the corporation, so the savings generated will be used for the incentives,” Aquino said.

The CIAC Board of Directors earlier approved the supplemental budget for the CNA incentives.

“This is a recognition of our personnel who are our most valuable asset, for accomplishing the agency’s performance targets for the past year in an efficient manner,” Aquino said.

CIAC employees under Aquino’s term were also given other benefits, especially during the height of the pandemic such as the periodic and free anti-Covid-19 tests, productivity enhancement and performancebased incentives, middle- and year-end bonuses, loyalty awards, and monetization of leave credits.

The CNA incentive is in recognition of “the government employees’ efforts in accomplishing performance targets at lesser cost, in attaining more efficient and viable operations through cost-cutting measures and systems improvement.”

Higher rice production costs seen to spur P6/kilo price hike “The government really needs to subsidize the fertilizer or else our production would fall. Like what our agriculture secretary is saying, we have to brace for a looming food crisis,” he said.

Non-government organization Federation of Free Farmers (FFF) earlier estimated that Filipino consumers would have to shell out an additional P190 million per day if rice prices rise

by P5 per kilogram due to compounding global factors. The FFF said it would cost the government about P27 billion

to P38 billion to subsidize local farmers’ higher expenditure on fertilizer and fuel due to rising global prices.

The United States Department of Agriculture (USDA) earlier projected that the Philippines would remain as the world’s second largest buyer of rice for the fourth consecutive year in 2023 as local production is anticipated to stay flat at 12.4 MMT. The USDA said the Philippines’s rice imports this year and next year would hit the 3-MMT level. (Related

Retail construction goods’ prices rise for 8th month continued from a1

Also posting higher retail prices were painting materials and related compounds at 2.3 percent in February 2022. This was also higher than the 0.7-percent growth posted in February 2021 and 1.9 percent in January 2022.

“A n nu a l i nc re me nt s w e re slower in the indices of masonry materials at 1.9 percent; and miscellaneous construction materials at 3.4 percent,” PSA, however, said.

“The indices of carpentry materials and electrical materials retained

[the] previous month’s annual rate of 1.1 percent and 2.8 percent, respectively,” it added.

The market basket of the CMRPI is composed of 102 commodities and classified into seven major groups—carpentry, electrical, masonry, painting and related compounds, plumbing, tinsmithry, and miscellaneous materials.

While the GRPI is computed monthly and comes out 36 days after the reference month, the CMRPI is available 15 days after the reference month.

story: https://businessmirror. com.ph/2022/05/16/phl-to-importmore-rice-as-output-to-stay-flat/) The country’s rice imports in the first quarter surged by almost 70 percent year-on-year to 985,139.995 MT as importers brought in more staple food in anticipation of tighter world supply coupled with lower domestic staple output. (Related story: https://businessmirror.com. ph/2022/04/25/dim-outlook-fuelsphl-rice-imports-surge/)

Palace to PUV drivers: Forego trip suspension

A

MID continued soaring of fuel prices, Malacañang on Monday appealed to public utility jeepney (PUJ) drivers and operators not to push through with their plan to suspend nationwide jeepney operations this week.

“We appeal to jeep drivers and operators not to push through with their plan to suspend operations this week,” Acting Presidential Spokesperson and Communications Secretary Martin Andanar said in a press statement.

Andanar assured that the government is doing everything it can to cushion the impact of the rising fuel prices caused by tight supply in the global oil market. PNA

sector has around 60,000 vaccines that will expire in July.

With this, he reiterated his call for the government to expand the rollout of second booster shots to economic frontliners who are 50 years old and above, since based on the current guidelines for the second booster shot, only those who are 60 years old and above are qualified or allowed to get shots.

“So, the call to our people is to continue to take the boosters. Now, iyong problema lang namin, dito sa private sector, may mga 60,000 kami na mag-e-expire, was extended in July, and we want these vaccines to be taken by our economic frontliners who are 50 years old and above. Pero ngayon, under the second booster shot, ang puwede lang kumuha dito ay iyong mga 60 years old and above, so that’s another problem,” said Concepcion.

continued from a16

A6

BusinessMirror

Tuesday, June 7, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

21TH CONSTRUCTION DEVELOPMENT CORPORATION #28 Lot 12 Blk 94, R. Papa Ave. Cor. P. Garcia St. Phase 6, Afpovai, Western Bicutan, City Of Taguig

GUO, QIANG Finance Manager 1.

Brief Job Description: Managing the company’s overall financial position and matching it to the firm’s financial targets, creating a budget for each part of a construction project.

Basic Qualification: Excellent ability to problem solve along with solid understanding of the business process and systems optimization.

Comfortable interacting with all levels or management in multiple.

No.

NONG VAN QUYNH Vietnamese Customer Service Representative 13.

2.

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

LE THI MY TRINH Customer Service Representative Mandarin Speaking 3.

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

MAI QUOC VIET Customer Service Representative Mandarin Speaking 4.

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

NGUYEN VAN HIEN Customer Service Representative Mandarin Speaking 5.

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

Brief Job Description: Managing incoming calls and customer service inquiries

CASTRO MAZUI, PATRICK Spanish Content Writer - Multilingual Speaking 14.

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

Brief Job Description: Write clear marketing copy to promote our products/services.

MEDINA BODIPO, PAQUITA Spanish Content Writer - Multilingual Speaking

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

15.

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

Brief Job Description: Write clear marketing copy to promote our products/services.

CHAMBERLAIN III, THEODORE LOUIS Technical Gaming Business Development Executive 16.

Brief Job Description: Responsible for the development and consultant relationships including the achievement of sales targets and the identification of business opportunities.

6.

Brief Job Description: Serve as technical resource to other team members

7.

Brief Job Description: Diagnosing equipment malfunctions and performing repairs.

8.

Brief Job Description: Communicates effectively via email and/or telephone in both Mandarin and English language, with our customer base - buyers, merchants and internal customers.

LIN, FANG-MIN a.k.a. SHERRALINE LIN Investigation Specialist I

9.

Brief Job Description: Communicate with buyers, merchants and internal customers and take appropriate action to identify and help minimize the risk posed by fraud patterns and trends

10.

Brief Job Description: Will lead the efforts to secure the Amdocs ecosystem by guiding and monitoring the different IT/Product.

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

18.

Brief Job Description: Initiate conversation to uncover customer needs.

ZHANG, WANYING Divisional Head Of Business Administrators Brief Job Description: Provide leadership in Social Media & Marketing.

11.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI HUYEN THANH Vietnamese Customer Service Representative

12.

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: With Professional Gaming Experience in the Us Industry and in Dealing and Influencing Game Design Studios Within Manufacturers.

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

Basic Qualification: JLPT N2 Certified

CHINTAPALLI, PRASAD Heavy Equipment Operator Specialist 19.

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

Basic Qualification: Proficient in speaking, reading and writing in Mandarin.

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

HINSSEN, PETRUS HENDRIKUS HR Manager 20.

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

Basic Qualification: Proficiency in Mandarin Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree, comprehensive experience in information security/information security management.

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

Brief Job Description: Responsible and coordinates everything around the employment of local and expatriated personnel on the large and complex dredging project.

CARMEL JOSEPH Superintendent 21.

Basic Qualification: Fluency in the Mandarin 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

Brief Job Description: Managers, monitors, and supervises the execution, according to the contract in a safe, timely, qualitatively optimal and cost-efficient manner.

VAN ERP, ANTONIUS MATHIJS JOHANNES Superintendent 22.

Brief Job Description: Manages and supervises the execution of part of the project according to the contract in a safe, timely, qualitatively optimal and cost-efficient manner.

BEUTICK, ERIK Works Manager 23.

Brief Job Description: Managers, monitors, and supervises the execution, according to the contract of a part of the dredging & reclamation project

VROLIJK, LAURENTIUS ADRIANUS CORNELIS Works Manager 24.

Brief Job Description: Managers, monitors, and supervises the execution, according to the contract of a part of the dredging & reclamation project

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

25.

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

CEBU AIR, INC. Cebu Pacific Bldg., Domestic Rd, Barangay 191, Pasay City

Brief Job Description: Represent Cebu Pacific in liaising and coordinating with local and international airport authorities, ground handlers, and other regulatory bodies

PAN, YUSHAN Multilingual Service Desk Member

26.

Brief Job Description: • Resolve issues utilizing excellent customer service skills, problem solving skills, technical thinking/reasoning skills, and a high level of individual judgment to ensure outcomes of customer satisfaction; • Receive and respond to user inquiries and requests via telephone, email, case tracking system professionally and with speed, accuracy and proficiency;

DENG, YUANQING Chinese Speaking Cabling Infrastructure Technician 27.

Brief Job Description: Install Cat5e, Cat6, Cat6a and fiber optic cabling system

GAO, WEN Chinese Speaking Cabling Infrastructure Technician 28.

Brief Job Description: Install Cat5e, Cat6, Cat6a and fiber optic cabling system

LIU, YUANBIN Chinese Speaking It Specialist 29.

30.

31.

Brief Job Description: Act as Project Supervisor on capital construction and renovation projects.

HU, YUNBING Mandarin Speaking Project Supervisor 32.

Basic Qualification: Fluent in Mandarin and English with good communication skills and preferably 5 years of experience as CHINESE SPEAKING CABLING INFRASTRUCTURE TECHNICIAN

Basic Qualification: Fluent in Mandarin and English with good communication skills and preferably 5 years of experience as CHINESE SPEAKING CABLING INFRASTRUCTURE TECHNICIAN

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT Specialist Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT Specialist Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as Project Supervisor.

Brief Job Description: Act as Project Supervisor on capital construction and renovation projects.

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as Project Supervisor.

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

LI, YONGFENG Mandarin Speaking Project Supervisor 33.

Brief Job Description: Act as Project Supervisor on capital construction and renovation projects.

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as Project Supervisor.

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

YANG, ZIXUN Mandarin Speaking Project Supervisor 34.

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

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

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

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

Basic Qualification: Minimum 3 years extensive work experience with an international dredging company.

Basic Qualification: Extensive project management experience of at least 5 years in an international dredging and land reclamation project environment.

Brief Job Description: Resolving all issues coworkers have with their IT systems and software

FEI, ZHENGBIN Mandarin Speaking Project Supervisor

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

Basic Qualification: Extensive project management experience of at least 5 years in an international dredging and land reclamation project environment.

Brief Job Description: Resolving all issues coworkers have with their IT systems and software

LIU, ZHEN Chinese Speaking It Specialist

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

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

Basic Qualification: • Must be fluent in either Mandarin, Finnish and Latvian language and in English; • Vocational Diploma, Short Course Certificate Undergraduate, or Bachelor’s/College Degree;

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

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

Basic Qualification: Minimum 3 years extensive work experience with an international dredging company.

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

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

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

Basic Qualification: Proven successful relevant experience of at least 30 years within an international project environment

Basic Qualification: Must have at least 15 years of experience in the airline industry particularly in legacy and/ or low cost carrier within Southeast Asia region and beyond

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: Min. Bachelor in Business or Market.

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

QUALIFICATION AND SALARY RANGE

CGI (PHILIPPINES) INC. 2/f One World Square, Mckinley Hill, Pinagsama, City Of Taguig

Basic Qualification: Degree holder, must fluently speak and write Bahasa Indonesian, Vietnamese and Thai, to cater foreign market.

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

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque SENG POW Burmese Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

KOVACS, JENO ZOLTAN Senior Adviser-ground Operations

Basic Qualification: Well-versed in Spanish (written/oral).

BLUE STAR ENTERTAINMENT INC. 4/f G&a Bldg.,, 2303 Chino Roces Ave. Ext.,, Magallanes, City Of Makati

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

GURJAR, VINOD SINGH Information Security Expert

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

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

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City LI, XIUKANG Investigation Specialist I

Basic Qualification: Well-versed in Spanish (written/oral).

17.

GE, QIAN Mandarin Language-officer Customer Service

ALLIANTPRIME SERVICES INC. Unit No. Unit 2c Flr. No. 4f, One Ecom Center Building, Ocean Drive St., Moa Complex Subd., Barangay 76, Pasay City JI, YUHAO Mandarin Site Technical Officer

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

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

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

No.

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

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

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong DOYAMA, HIDEHITO Transaction Processing Analyst

QUALIFICATION AND SALARY RANGE

ARISTOCRAT (PHILIPPINES) PTY. LIMITED 12th F Net One Center, 26th St. Cor. 3rd Ave. Crescent Parkwest, Fort Bonifacio, City Of Taguig

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

ESTABLISHMENT / ADDRESS

APRICUS TECHNOLOGY INC. 8/f Aguirre Building, 107 Aguirre St. Legaspi Village, San Lorenzo, City Of Makati

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque LE DINH THIEN Customer Service Representative Mandarin Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Act as Project Supervisor on capital construction and renovation projects.

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as Project Supervisor.

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

ZHANG, TINGLEI Mandarin Speaking Project Supervisor 35.

Brief Job Description: Act as Project Supervisor on capital construction and renovation projects.

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as Project Supervisor.

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

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

YANG, FAN Mandarin Operations Analyst 36.

Brief Job Description: The mandarin operations analyst will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proven experience as mandarin operations analyst, familiarity, knowledge and awareness on machinery and heavy equipment use by company.

Demonstrable experience in developing strategic business plan.

No.

ZHOU, ZHENWANG Senior Marketing Specialist 46.

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

YANG, ZAIYI Mandarin Site Officer 37.

Brief Job Description: The mandarin site officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

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

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

LIM WEE SOON Bi-lingual Speaking Data Analyst Officer 38.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Looking after the budget of the marketing department and making sure the budget spend is delivering a return on investment. Managing the design and production of promotional materials, such as websites and brochures.

LUU HAI TU Bi-lingual Speaking Data Analyst Officer 39.

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

40.

Brief Job Description: Maintains information technology strategies by managing staff, does research and implements technological strategic solutions

JIANG, DONGTING Shop Operations Supervisor 47.

PUSRI, SATHIT Bi-lingual Speaking Senior It Supervisor 41.

Brief Job Description: Coordinate/ or perform hands on fixes at the desktop level, including installing and upgrading software, installing hardware, implementing file backups and configuring systems and applications

Brief Job Description: Oversee all the activities within a specific department or area of an organization and monitor the efficacy of the department, improve operating processes, and report to upper management.

BUI TRAN DUC Customer Service Representative 48.

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

BUI TRAN THINH Customer Service Representative 49.

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

51.

42.

52.

LUO, JUN Chinese Speaking Admin Associate 43.

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

53.

54.

BASCIANO, RAFAEL FLAVIO OLIVIER Decarbonization & Ecomobility Leader

44.

Brief Job Description: Ensuring the respect of our environmental commitment by monitoring our energy transition plan to fight against climate change, tracking our co2 emissions and helping the business units to define their own trajectory and implement strategic actions to reduce them.

55.

56.

LIU, JUN Marketing And Sales Agent 45.

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

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

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

JIMMY SALIM Customer Service Representative 57.

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

LA TUAN LONG HO Customer Service Representative 58.

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

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

JACSON Customer Service Representative

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

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

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

FEBRI JAYANTO Customer Service Representative

DECATHLON PHILIPPINES INC. L2- 2093.1 Level 2, Festival Supermall Corporate Ave., Fcc, Alabang, City Of Muntinlupa Basic Qualification: Experienced in environmental strategies and sustainable development, in multisectorial organizations for at least four (4) years; scientific a background is a must.

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

ELIS SA Customer Service Representative

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

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

DOAN THI HOAI MO Customer Service Representative

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

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

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

DINH BUI SI PHU Customer Service Representative

COMWORKS INFRATECH CORP. 1050 Cwi Corporate Center, Quezon Ave., Paligsahan, Quezon City

Brief Job Description: Responsible for all activities within Asset integration, Operations and Maintenance, Handover if new assets, seamless integration of processes, system etc to ensure no drop in SLA; successful transition of SLB assets and roll out as per defined KPI; designing, defining and implementing all processes, procedures, activities, relationships required to maintain the highest level of site availability across all tower site in the portfolio.

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

DEWI SISIANY Customer Service Representative

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

BEUTLER, PETER Chief Operating Officer

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

CELLY KWOK Customer Service Representative 50.

Basic Qualification: At least 15 years experience in Accounting, Finance Business, Corporate Finance and Tax, preferably from a mixture of MNC and start-up environment; At least 8 years of managerial position and leading a team; Confident with excellence communication and interpersonal skills.

Basic Qualification: Can work harmoniously with executive team such as the marketing director or managing director to set the marketing strategy for the business.

Must be willing to hire and manage junior marketing team that includes PR and creative staff. Able to speak and communicate using Mandarin is an advantage

No.

Basic Qualification: Job-relevant degree/ 5-10 yrs. Supervisory/ managerial experience in logistics or operations/ multilingual

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LE THI LIEU Customer Service Representative

60.

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

LE THI NGOC ANH Customer Service Representative 61.

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

LY VAN HAI Customer Service Representative 62.

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

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

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

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

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

QUALIFICATION AND SALARY RANGE

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 11/f Cybersigma, Lawton Ave., Mckinley West, Fort Bonifacio, City Of Taguig

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

MESETTHEE, WASAN Bi-lingual Speaking Information Technology Manager

ESTABLISHMENT / ADDRESS

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff languages: English, mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese

Tuesday, June 7, 2022

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

LAM TAN CUONG Customer Service Representative 59.

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

Basic Qualification: College Graduate, preferably with Customer Service or Sales experience, fluent in Mandarin and Basic English

MAN QUAY KHIN Customer Service Representative 63.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English

MARIANI Customer Service Representative 64.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

NEVI Customer Service Representative 65.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

NGO HOANG LONG Customer Service Representative 66.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English.

NGO TRI QUANG Customer Service Representative 67.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English.

NGUYEN ANH PHU Customer Service Representative 68.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

NGUYEN THI KIEU KHANH Customer Service Representative 69.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

NGUYEN VAN TUAN Customer Service Representative 70.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

NGUYEN XUAN CUONG Customer Service Representative 71.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

PENDI Customer Service Representative 72.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English

PHAN THI HUONG Customer Service Representative 73.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English.

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

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

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

PHAN VO DUC MINH Customer Service Representative 74.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic English.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic english.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic english.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in mandarin and basic english.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably with Customer Service of Sales experience, fluent in Mandarin and Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999

A7

BusinessMirror

Tuesday, June 7, 2022

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION RINA Customer Service Representative

75.

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

SURIYANA Customer Service Representative 76.

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

THAI VAN HOAN Customer Service Representative 77.

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

TONG VAN HUE Customer Service Representative 78.

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

VI VAN TIEN DUNG Customer Service Representative 79.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English Salary Range: Php 30,000 - Php 59,999

80.

Brief Job Description: Coordinate with account managers and sales executives to achieve sales and ensure clients satisfaction

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DENI Customer Service Representative Mandarin Speaking

88.

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

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

81.

Brief Job Description: Involve self in the flying formation team for hunting & mining pursuits

ALEX THOMAS Assistant Vice President- Operations 82.

Brief Job Description: Collaborate with senior management as it relates to business growth, strategy and operational planning. Develop and implement strategic and plan direct and control all financial and administrative operations.

AUGUSTINE, SATHISH KUMAR Assistant Vice President, Service Delivery Leader Trust And Safety 83.

Brief Job Description: Bring in deep validated experience in trust and safety in solutions shaping up value propositions in line with n. Client objective with robust commercial and operating models with the right levels of diffentation

CHACKO, SHIBU Assistant Vice President, Service Delivery Leader Trust And Safety 84.

Brief Job Description: Bring in deep validated experience in trust and safety in solutions shaping up value propositions in line with n. Client objective with robust commercial and operating models with the right levels of diffentation

GHOSH, PRADYUMNA Senior Manager -trust And Safety Service Line 85.

Brief Job Description: Market profile; size, competitors, stage of growth; market analysis strengths weaknesses, opportunities, and threats in the landscape

SANDEEP ROOP KUMAR Senior Manager, Training & Quality, Trust And Safety Service Line 86.

Brief Job Description: Market profile; size, competitors, stage of growth; market analysis strengths weaknesses, opportunities, and threats in the landscape

87.

Brief Job Description: Responsible for producing, information, transcribing, formatting, inputting, editing, retrieving, copying, and transmitting data and graphics from English to Mandarin

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

YIP, CHUN YEUNG ROY Web Project Manager - Chinese Speaking 89.

Brief Job Description: Leads daily or weekly project team meetings to review progress.

Basic Qualification: Can speak Chinese language with two (2) years relevant experience.

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

90.

Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

91.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate level, preferably with customer service or sales experience, fluent in Mandarin and basic English.

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

FOO YONGCHANG, AARON a.k.a. FU YONGCHANG Chief Strategy And Proposition Officer

Basic Qualification: MBA.

Brief Job Description: Develop the strategy and product proposition.

Salary Range: Php 500,000 and above

BENNETT, CHRISTOPHER JOHN Chief Technology And Operations Officer

Basic Qualification: Bachelor economics and actuarial science.

Brief Job Description: Design in strategy, enterprise and solution architecture for the company.

VAN STADEN, JOHANNES CHRISTOFFEL Head Of Data And Analytics

92.

Brief Job Description: Drive technology requirements and lead a team composed of analysts, engineers, and architect/s to fulfill and deliver business requirements.

BROWN, JEAN-FRANCOIS HOWARD Head Of Program Management

93.

Brief Job Description: Overall management & communication of new digital bank build.

94.

XIANG, LUOYANG Sales Manager Brief Job Description: Setting individual’s sales target.

XU, TIAN Sales Manager

Salary Range: Php 500,000 and above

Salary Range: Php 500,000 and above

Salary Range: Php 500,000 and above

Basic Qualification: Fluent in mandarin and English language both verbal and written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English language both verbal and written.

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

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati WANG, JINCHAO Human Resource Business Partner (HRBP) For Delivery And Service Business Group 96.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: MBA from institute of repute with good experience of leading operations/process for large global clients (GAFMA experience preferred)

CHEN, YUXUAN Chinese Speaking Data Entry Clerk 97.

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Experience in driving it operational metrics, planning and conducting client and internal businesses, it operational governance and tracking action items to closure

98.

99.

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

WANG, SHIYA Chinese Speaking Program Designer 100.

YANG, CHIAO-YIN Chinese Finance Support Specialist 105.

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

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

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

CHOI, MINJAE Korean Marketing Consultant 101.

Brief Job Description: Track main industry trends in Korean through blogs, micro blogs and forums.

KIM, HYEONDONG Korean Marketing Consultant 102.

Brief Job Description: Track main industry trends in Korean through blogs, micro blogs and forums

106.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Track main industry trends in Korean through blogs, micro blogs and forums College graduate, speaks and write fluently (Korean, English and mandarin)

103.

Brief Job Description: Track main industry trends in Korean through blogs, micro blogs and forums

Basic Qualification: College graduate, speaks and write fluently (Korean, English and mandarin) Salary Range: Php 30,000 - Php 59,999

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House, Magallanes St. 069, Barangay 655, Intramuros, City Of Manila

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

HUANG, QIUYAN Marketing Assistant 107.

Basic Qualification: Proficient in speaking, reading and writing in English and their respective Native Language for the position applied for; Fluent in Chinese Mandarin is an advantage

Brief Job Description: Research and identify marketing trends and opportunities. Assess pricing and competitive behaviour. Monitors/track product movement.

Prepares forecast and inventory reports.

Basic Qualification: Candidate must possess at least Bachelor’s/ College Degree in Marketing. Detailed oriented. Can work independently. Excellent in written and oral communication skills.

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

LA SIESTA BEACH RESORT INC. U-25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati CHOI, HYEON DEOK Manager 108.

Brief Job Description: Manager ensure that their assigned department or district is well staffed and provisioned to quality and service standards, increases revenue and market share.

Basic Qualification: College / bachelor degree with excellent written and verbal communication.

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

LOGICDOSE INC. 36f Robinsons Summit Center, 6783 Ayala Ave., Bel-air, City Of Makati HSU, CHAO-WEI It Technical Support-Taiwanese Speaking 109.

Brief Job Description: Troubleshoot System and Network Problems, Diagnosis and Solving Hardware or Software Faults

CHI CON MUI It Technical Support-Vietnamese Speaking 110.

Brief Job Description: Troubleshoot System and Network Problems, Diagnosis and Solving Hardware or Software Faults

Basic Qualification: Can Speak Taiwanese Language and Knowledgeable In Information Technology System Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can Speak Taiwanese Language and Knowledgeable In Information Technology System Salary Range: Php 30,000 - Php 59,999

MACRO EXCEL CONSULTANCY INC. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati TRAN THI THUY HIEN Chinese Speaking Marketing Consultant 111.

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

VO THI THU HANG Chinese Speaking Marketing Consultant 112.

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

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

MAGKING SERVICES CORPORATION Unit 5d Rose Industries Bldg., #11, Pioneer Street, Kapitolyo, City Of Pasig PARK, YOUNGSOO Software Developer 113.

Brief Job Description: Software developer depends on the needs of the company, organization, or team they are on.

Others develop applications that make it possible for people to perform specific tasks on computer.

Basic Qualification: Must be bachelor’s / college degree in any fields, at least 1-2 yrs. Of working experience in the Related positions, ability to maintain high level of confidentiality Salary Range: Php 30,000 - Php 59,999

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City HEIN HTUT THEIN Burmese Customer Service Representative 114.

Basic Qualification: College graduate, speaks and write fluently (Korean, English and Mandarin).

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin is an advantage.

JUDD WISY GROUP INC. Unit 2c One Ecom Bldg., Ocean Drive, Mall Of Asia Complex St., Zone 10, Barangay 76, Pasay City

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

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 inquiries HSU YEE HAN Burmese Customer Service Representative

115.

Brief Job Description: Managing incoming calls and customer service inquiries KYAN KYAR YONE Burmese Customer Service Representative

116.

Salary Range: Php 30,000 - Php 59,999 LEE, SANGHYEON Korean Marketing Consultant

Brief Job Description: Maintains financial accounts by processing customers’ adjustments.

MAC UNG MUI Vietnamese Technical Support Representative

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

Basic Qualification: Must Be Fluent In Chinese Language

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

Basic Qualification: Proficient in speaking reading, writing and speaking mandarin

J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg., #48 President Avenue, B. F. Homes, City Of Parañaque

Basic Qualification: Extensive, thorough and fluency in Mandarin language and characters

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

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

HE, ZHIQIANG Chinese Speaking Data Entry Clerk

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

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

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

HE, YINGXI Chinese Speaking Data Entry Clerk

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Experience in driving it operational metrics, planning and conducting client and internal businesses, it operational governance and tracking action items to closure

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

INFOVINE INC. 8th, 9th, 10th/f Aspire Corporate Plaza Bldg., Macapagal Blvd. St., Zone 10, Barangay 76, Pasay City

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: MBA from institute of repute with good experience of leading operations/process for large global clients (GAFMA experience preferred)

Brief Job Description: Organize weekly meeting for business leaders review people management issues, develop solution, execute solution and review its progress

Brief Job Description: Your Primary Function Is To Help The Company And Its Chinese Clients To Generate More Income For The Company

QUALIFICATION AND SALARY RANGE

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. U-3401 34/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Basic Qualification: Master Degree - Business

95.

Basic Qualification: Significant experience in the confirmed tenure in mid senior management role in BPO/Contact center industry and should be a subject matter expert on various aspects like banking insurance consumer goods.

104.

Basic Qualification: MSC. BMI.

Basic Qualification: Post-graduate degree/ MBA (Based on technical proficiency-add technical degree)

Brief Job Description: Setting individual’s sales target.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TZEREFOS, SPYRIDON Strategic And Facilitation Officer

HIKVISION SINGAPORE PTE. LTD. PHILIPPINES BRANCH 37th/f Joy Nostalg Center, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig

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

No.

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

GOTYME BANK CORPORATION ( GOTYME BANK,GOTYME DIGITAL, GOTYME DIGITAL BANK AND GOTYME ) 30/f Robinsons Cyberscape Gamma,, Topaz And Ruby Roads Ortigas Center, San Antonio, City Of Pasig

GLOBAL PACIFIC KNOWLEDGE CONSULTANCY INC. Unit No. U-1207 Villaruel Tower Bldg., Villaruel St., Barangay 38, Pasay City CUI, HONGBO Customer Service Representative (mandarin Speaking)

QUALIFICATION AND SALARY RANGE

GOLDRIDGE WEB DESIGN STUDIO, OPC Unit 2b 2/f 816, Arnaiz Bldg., San Lorenzo, City Of Makati

GENPACT SERVICES LLC 5f Genpact Bldg., Cyberzone Northgate, Alabang, City Of Muntinlupa MISHRA, MRINAL Assistant Vice President- Account Transition Leader

ESTABLISHMENT / ADDRESS

Basic Qualification: College Graduate Level, preferably with Customer Service or sales experience, fluent in Mandarin and basic English

FLYING FUTURE SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati HO SHEU TAO Mandarin Accounts Staff

No.

www.businessmirror.com.ph

Brief Job Description: Managing incoming calls and customer service inquires LU KYAUK TE Burmese Customer Service Representative

117.

Brief Job Description: Managing incoming calls and customer service inquires MAY MYAT NOE Burmese Customer Service Representative

118.

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

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 PAING SHAR AUNG Burmese Customer Service Representative

119.

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

SAI TIP KYAUK Burmese Customer Service Representative

120.

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

SU SU HLAING Burmese Customer Service Representative

121.

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

THIN NWE SOE Burmese Customer Service Representative

122.

Brief Job Description: Managing incoming calls and customer service inquiries TUN MIN ZAW Burmese Customer Service Representative

123.

Brief Job Description: Managing incoming calls and customer service inquires WAN YONE Burmese Customer Service Representative

124.

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

ZIN LIN NWE Burmese Customer Service Representative

125.

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

CAO, LINXIA Chinese Customer Service Representative

126.

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

127.

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

128.

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

129.

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

130.

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

131.

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

GAN, YANJUN Chinese Customer Service Representative

132.

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

133.

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

134.

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

135.

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

136.

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

137.

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

138.

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

139.

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

PENG, YUAN Chinese Customer Service Representative

140.

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

QIN, HONGXIANG Chinese Customer Service Representative

141.

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

142.

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.

SUN, YAN Chinese Customer Service Representative 143.

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

144.

145.

146.

147.

148.

149.

150.

151.

152.

153.

154.

155.

156.

157.

158.

159.

160.

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

161.

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 inquires FENTY MARTINA Indonesian Customer Service Representative

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

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

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

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

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

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

ZHU, XINKE Chinese Customer Service Representative

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

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

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

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

ZHAO, QIANG Chinese Customer Service Representative

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

WONGNUAN, PIMTIDA Chinese Customer Service Representative

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

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

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

Brief Job Description: Managing incoming calls and customer service inquiries TSENG, PING-HSI Chinese Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

MUHAMMAD EVANT ROSALDI Indonesian Customer Service Representative

162.

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

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

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

PO MI Indonesian Customer Service Representative

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

163.

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

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

SU MI Indonesian Customer Service Representative 164.

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

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

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

CHUNG SHI CHENG Malaysian Customer Service Representative

165.

Brief Job Description: Managing incoming calls and customer service inquires KONG KEN HAU Malaysian Customer Service Representative

166.

Brief Job Description: Managing incoming calls and customer service inquires

Tuesday, June 7, 2022

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

No.

LAU CHEE YENG Malaysian Customer Service Representative 167.

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

168.

169.

170.

171.

172.

173.

174.

175.

176.

177.

178.

179.

180.

181.

182.

183.

184.

185.

186.

187.

188.

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

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

NGUYEN NHAT TAI Vietnamese Customer Service Representative

189.

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 inquires.

NGUYEN BINH DUONG Vietnamese Customer Service Representative

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

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

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

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

MAI THI HONG DIEM Vietnamese Customer Service Representative

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

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

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

Brief Job Description: Managing incoming calls and customer service inquires LUU CAM HUNG Vietnamese Customer Service Representative

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

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

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

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

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

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

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

Brief Job Description: Managing incoming calls and customer service inquiries HY PHUNG LIEN Vietnamese Customer Service Representative

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

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

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

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

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

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

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

Brief Job Description: Managing incoming calls and customer service inquires HOANG DUC HAO Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires DIP NAM DUNG Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries DAO THI PHUONG LIEN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires DANG THANH SON Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries CHU VAN THIEN Vietnamese Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquiries TIONG ING HUI Malaysian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires TAY BOON KIONG Malaysian Customer Service Representative

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

Brief Job Description: Managing incoming calls and customer service inquires LAU ZHE HUA Malaysian Customer Service Representative

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

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

LAU ZE QING Malaysian Customer Service Representative

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

NGUYEN XUAN THUAN Vietnamese Customer Service Representative

190.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, Read, and Write Chinese language.

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

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

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

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

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

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

A9

BusinessMirror

A10 A6 Tuesday, June 7, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PHAM THI NGOC KIEU Vietnamese Customer Service Representative

191.

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

192.

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

193.

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

SY A KHIN Vietnamese Customer Service Representative

194.

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

SY DAT THANH Vietnamese Customer Service Representative

195.

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

SY MY PHUNG Vietnamese Customer Service Representative

196.

Brief Job Description: Managing incoming calls and customer service inquires SY NHAT HUNG Vietnamese Customer Service Representative

197.

Brief Job Description: Managing incoming calls and customer service inquires SY VU KHANH Vietnamese Customer Service Representative

198.

Brief Job Description: Managing incoming calls and customer service inquires THOONG QUOC THO Vietnamese Customer Service Representative

199.

Brief Job Description: Managing incoming calls and customer service inquiries TONG VAN HIEU Vietnamese Customer Service Representative

200.

Brief Job Description: Managing incoming calls and customer service inquiries TRAN KHANH LINH Vietnamese Customer Service Representative

201.

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

202.

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

203.

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

204.

Brief Job Description: Managing incoming calls and customer service inquires VONG BAC LIEN Vietnamese Customer Service Representative

205.

Brief Job Description: Managing incoming calls and customer service inquires VONG DAU KHIN Vietnamese Customer Service Representative

206.

Brief Job Description: Managing incoming calls and customer service inquires VONG LONG PHAT Vietnamese Customer Service Representative

207.

Brief Job Description: Managing incoming calls and customer service inquires VONG NHOC CHIENG Vietnamese Customer Service Representative

208.

Brief Job Description: Managing incoming calls and customer service inquires VONG VINH HANG Vietnamese Customer Service Representative

209.

Brief Job Description: Managing incoming calls and customer service inquires

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

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

210.

Brief Job Description: Customer support and data base services

BI, YANJU Chinese Customer Service 211.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

213.

212.

Brief Job Description: Customer support and data base services

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

DUAN, LINJIANG Chinese Customer Service 214.

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.

215.

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

216.

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

FANG, ZHEN Chinese Customer Service Brief Job Description: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills GONG, XINJUN Chinese Customer Service

217.

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

GAO, TAO Chinese Customer Service

218.

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

GUO, XUN 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

GUO, ZIYU Chinese Customer Service 219.

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

220.

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

221.

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

222.

223.

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

LIN, JIE Chinese Customer Service Brief Job Description: Customer support and data base services

LIU, DAWEI Chinese Customer Service 224.

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills LI, QIANGXIU Chinese Customer Service

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills LAI, XIANG Chinese Customer Service

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

HAN, XINGQIANG Chinese Customer Service

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills MA, WENXU Chinese Customer Service

225.

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

MAO, WANGCHENG Chinese Customer Service 226.

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

227.

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

MENG, XIANGJIE Chinese Customer Service

228.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

QIU, FENYAN Chinese Customer Service Brief Job Description: Customer support and data base services

Basic Qualification: Customer support and data base services QU, XINGGUO Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 229.

CHEN, GUANGWU Chinese Customer Service

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHEN, HAO Chinese Customer Service

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

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

BAI, JINLIANG Chinese Customer Service

No.

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills SHEN, JING Chinese Customer Service

230.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

No.

231.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SONG, WENYAN 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 similar field, speaks and write fluently (native language).

TANG, JINMEI Chinese Customer Service 232.

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

WANG, BAOKU Chinese Customer Service 233.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

234.

235.

236.

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).

237.

Basic Qualification: Customer support and data base services 238.

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

239.

240.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

241.

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

242.

243.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

244.

245.

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.

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

YANG, XUN Chinese Customer Service Brief Job Description: Customer support and data base services

YANG, ZHUN Chinese Customer Service Brief Job Description: Customer support and data base services

YE, JIAFENG Chinese Customer Service Brief Job Description: Customer support and data base services

YONG, BANGSHU Chinese Customer Service Brief Job Description: Customer support and data base services

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

ZHANG, JIAWEI Chinese Customer Service

Basic Qualification: Customer support and data base services

Basic Qualification: Customer support and data base services

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

ZHANG, DONGDONG Chinese Customer Service

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

Brief Job Description: Customer support and data base services

YANG, GAOSHENG Chinese Customer Service

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

WEI, ZHIHUI Chinese Customer Service

WU, YUANSHUAI Chinese Customer Service

Basic Qualification: Customer support and data base services

Basic Qualification: Customer support and data base services

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

WU, QI 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.

WEI, ZHEPING Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications 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, KELI Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native 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.

ZHANG, MEIJIA Chinese Customer Service 246.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer applications 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 similar field, speaks and write fluently (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: Knowledgeable in computer applications 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 similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native 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 FELYCIA PEGGY Indonesian Customer Service

247.

248.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

NG HOCK ENG Malaysian Customer Service Brief Job Description: Customer support and data base services

SUI HUI YEE Malaysian Customer Service 249.

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

YAW YOU MING Malaysian Customer Service 250.

251.

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

SOE HLAING WIN Myanmari Customer Service Brief Job Description: Customer support and data base services

HTOO HTET AUNG Myanmari Customer Service 252.

253.

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

LI KYIN Myanmari Customer Service Brief Job Description: Customer support and data base services

NANG HOM LIN Myanmari Customer Service 254.

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

LIANG, CHIA-WEI Taiwanese Customer Service 255.

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

LIN, CHIA-NI Taiwanese Customer Service

256.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

CHAU LONG HI Vietnamese Customer Service 257.

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

CHIENG MINH HUNG Vietnamese Customer Service 258.

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

HY SAU BINH Vietnamese Customer Service 259.

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

KHONG VA LAM Vietnamese Customer Service 260.

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

LAM VAN THANH Vietnamese Customer Service 261.

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

LAU TAC PHI Vietnamese Customer Service 262.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

LE DUONG THANH THUY Vietnamese Customer Service 263.

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

264.

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).

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

LIEU CAM PHUN Vietnamese Customer Service 265.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications 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.

LENH CONG VAY Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

LU GIA PHOI Vietnamese Customer Service 266.

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 similar field, speaks and write fluently (native language).

LUU THI HOANG VY Vietnamese Customer Service 267.

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

268.

NGUYEN HOANG TUNG Vietnamese 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 similar field, speaks and write fluently (native language).

SY DAU MINH Vietnamese Customer Service 269.

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 similar field, speaks and write fluently (native language).

TO NGOC THANH UY Vietnamese Customer Service 270.

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

TSAN PHAT LAM Vietnamese Customer Service 271.

Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

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

UNG NGOC PHUONG Vietnamese Customer Service 272.

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

273.

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

TSENG, HSIAO-PING Chinese Customer Service Representative 274.

Brief Job Description: To respond to customers concerns on site and supply solutions to their concerns.

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

Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

No.

277.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

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

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

KATSUMATA, RYOTA Operation Manager 278.

Brief Job Description: Plan organize and manage work plan of cad project team

LEE, CHIA-FANG Treasurer/chief Finance Officer 279.

Brief Job Description: Responsible on planning & strategy of financial systems & structure in accordance with the statutory & regulatory provisions & requirements of the company

CUI, XIAODA Mandarin Project Planner

280.

Brief Job Description: The mandarin project planner is responsible for planning and scheduling various workloads; gathers and analyzes information to prepare status report; evaluate current procedures and recommends changes to improve the efficiency of planning and scheduling of projects.

NGUYEN VAN TUAN Mandarin Project Planner

281.

Brief Job Description: The mandarin project planner is responsible for planning and scheduling various workloads; gathers and analyzes information to prepare status report; evaluate current procedures and recommends changes to improve the efficiency of planning and scheduling of projects.

HSIAO, HUA-YUAN Mandarin Quality Control Officer 282.

Brief Job Description: The mandarin quality control officer ensures that the quality of product from plans to actual construction is strictly implemented.

283.

275.

YAO, QINGXIN Technical Manager Brief Job Description: Technical management for DITO project

Basic Qualification: Proficient in speaking, reading and writing in Chinese.

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

Basic Qualification: Bachelor’s Degree, Excellent Communication Skills

276.

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

Basic Qualification: In-depth understanding of construction procedures, materials and project management principles; must have understanding in cost planning and contracts administration; familiarity with construction/project management in mainland china and the Philippines.

Basic Qualification: Must be knowledgeable in developing and reviewing project quality plans, contract documents and project specifications; must have knowledge to a wide range of construction materials, methods, and techniques.

Basic Qualification: Must be knowledgeable in developing and reviewing project quality plans, contract documents and project specifications; must have knowledge to a wide range of construction materials, methods, and techniques.

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

PRICEWATERHOUSECOOPERS SERVICE DELIVERY CENTRE (MANILA) LIMITED 15th/16th Flr., The 30th Corporate Center, Meralco Ave., Ugong, City Of Pasig MAH, KENNETH SOOT CHEUN Managing Director And Chief Customer Officer 284.

Brief Job Description: Responsible for providing operational leadership for PWC SDC Manila.

Basic Qualification: Appointive Position.

Salary Range: Php 500,000 and above

R.G. MANABAT & CO. (KPMG R.G. MANABAT & CO. AND KPMG IN THE PHILIPPINES) 3/f-9/f 22/f Kpmg Center, 6787 Ayala Ave., Bel-air, City Of Makati

UDAGAWA, KENGO Business Development Consultant 285.

Brief Job Description: Assist engagement teams in maintaining relationships and communicating with Japanese clients in relation to Japanese business language for the communication and documentation requirements of engagements.

Basic Qualification: Bachelor’s/Master Degree in Accounting, Finance, Business Management or the equivalent must have finance and/or accounting background and an understanding of accounting rules in Japan.

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

RAINBOW PROMISE SOLUTIONS INC. Unit A 14/f B.a Lepanto Bldg., 8749 Paseo De Roxas, Bel-air, City Of Makati JANPRAM, WIRUN Customer Service Specialist (Thai Speaking) 286.

Brief Job Description: Responding to customers’ complaints, determining the cause of the problem selecting and choosing the best solutions to solve the problem

Basic Qualification: Fluent in Thai, Have Customer Service Experience Salary Range: Php 30,000 - Php 59,999

RMD KWIKFORM PHILIPPINES INC. Units 2405-2409 Raffles Corporate Center, Emerald Ave., Ortigas Center, San Antonio, City Of Pasig

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

THONGTAE, TRIN Data Analyst Officer

Brief Job Description: The mandarin quality control officer ensures that the quality of product from plans to actual construction is strictly implemented.

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

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

Basic Qualification: In-depth understanding of construction procedures, materials and project management principles; must have understanding in cost planning and contracts administration; familiarity with construction/project management in mainland china and the Philippines.

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

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 60,000 - Php 89,999

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

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

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

Basic Qualification: NA, elected/appointed by the board

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

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speaks and write fluently (native language).

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

POWERCHINA PHILIPPINES CORPORATION Unit 2101 21/f Bdo Equitable Tower, 8751 Paseo De Roxas, Bel-air, City Of Makati

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)

Basic Qualification: Possess excellent management skills for day by day operation

PHILIPPINE SEVEN CORPORATION 7/f Columbia Tower, Ortigas Avenue, Wack-wack Greenhills, City Of Mandaluyong

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

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

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

PHILIPPINE ISHIHARA CAD SERVICE, INC. 4/f Oledan Square Bldg., 6788 Ayala Ave., San Lorenzo, City Of Makati

Basic Qualification: College Graduate, preferably 1 year experience in the same field, Speaks and write (Native Language)

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

QUALIFICATION AND SALARY RANGE

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TRANG LY PHUNG NHI Data Analyst Officer

NOKIA SHANGHAI BELL PHILIPPINES, INC. Penthouse W Fifth Bldg., 5th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

QUALIFICATION AND SALARY RANGE

NEW WEATHER FORCES GROUP INC. 26/f The Enterprise Center Tower 2, 6766 Ayala Ave., San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

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

VONG LE THIEN NGUYEN Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, preferably 1 year Chinese customer service experience in the similar field, must be fluent in mandarin and English written and orally.

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

A11

ESTABLISHMENT / ADDRESS

ZHAO, TONG Mandarin Quality Control Officer

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

Tuesday, June 7, 2022

HOLMES, IAN DAVID Senior Development Manager - Global Design Hub 287.

Brief Job Description: Work w/ the company’s country leaders to develop key performance targets, including detailing support requirements from each country & global design hub output expectations

Basic Qualification: At least a bachelor’s degree, engineering background is a plus; at least 15 yrs.’ experience in a managerial role in a multinational company dealing with global design Salary Range: Php 500,000 and above

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati CHO CHO NYEIN Burmese-language Customer Support Staff 288.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

Basic Qualification: A native speaker of the Burmese language (spoken and written).

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

BusinessMirror

A12 A6 Tuesday, June 7, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HTET SHWE YEE AUNG Burmese-language Customer Support Staff

289.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments KHAING YE LIN Burmese-language Customer Support Staff

290.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments GAN CHUN HOE Chinese/mandarin-language Customer Support Staff

291.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments GOH NAI NGEE Chinese/mandarin-language Customer Support Staff

292.

Brief Job Description: Serves as primary contact for problem resolution and information gathering customer complaints and work assignments.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: A Native Speaker of the Burmese Language (Spoken and Written) Salary Range: Php 30,000 - Php 59,999

293.

Brief Job Description: Ensure that all price changes and delivery of events are timely and accurate

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

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: A native speaker of the mandarin language (spoken and written).

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

Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999

294.

Brief Job Description: Ensure that all price changes and delivery of events are timely and accurate

Basic Qualification: Bachelor’s Degree in Business, Marketing and Other Relevant Courses Salary Range: Php 30,000 - Php 59,999

SHEARWATER HEALTH ADVISORS, INC. 35th Flr. Net Park, Bonifacio Global City, Fort Bonifacio, City Of Taguig PAWADIYA, HITESH KUMAR Senior Project Manager Officer 295.

Brief Job Description: Responsible in the overall success in initiation, planning, design, execution, monitoring, controlling and closure of project. BA/ bachelor’s degree; mba and/or pmp certification preferred; prior us

Basic Qualification: Healthcare experience preferred; exposure to deal with us and internal stakeholders; good in decision making and negotiations with delivery leaders Salary Range: Php 150,000 - Php 499,999

307.

296.

Brief Job Description: Monitoring and maintaining computer systems and networks

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

CHIEN, CHAO Production Technical Manager 308.

297.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

DUONG MINH TIEN Vietnamese Customer Service Representative

298.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

NGUYEN THI KHANH LY Vietnamese Customer Service Representative

299.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

NGUYEN VAN TU Vietnamese Customer Service Representative

300.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

PHAM THE HIEN Vietnamese Customer Service Representative

301.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

PHAM VAN TU Vietnamese Customer Service Representative

302.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

PHAN TRUONG HAI Vietnamese Customer Service Representative

303.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

PHONG BICH THAO Vietnamese Customer Service Representative

304.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

TRAN THI HUONG Vietnamese Customer Service Representative

305.

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

309.

THAWNG LIAN PAU Head Of Quality Assurance 310.

311.

312.

313.

314.

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

JEFFRY Customer Relation Representative (mandarin Translation)

315.

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

KAEWCHAWNA, NUTCHA Customer Relation Representative (mandarin Translation)

316.

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

KOEY XIEN RANG Customer Relation Representative (mandarin Translation)

317.

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

LE CHI VINH Customer Relation Representative (mandarin Translation)

318.

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

NGWE HNIN NWE Customer Relation Representative (mandarin Translation)

319.

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

PAN, HAIXI Customer Relation Representative (mandarin Translation)

320.

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

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

PHAM THI HONG VAN Customer Relation Representative (mandarin Translation)

321.

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

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

YU, YANG Customer Relation Representative (mandarin Translation)

Salary Range: Php 30,000 - Php 59,999 322.

SUMITOMO CORPORATION OF THE PHILIPPINES 35/f Philamlife Tower, 8767 Paseo De Roxas St., Bel-air, City Of Makati

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

HSU, LI-WEN Customer Relation Representative (mandarin Translation)

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

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

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

GU, TAO Customer Relation Representative (mandarin Translation)

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

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

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

DAVID EVAN Customer Relation Representative (mandarin Translation)

Basic Qualification: Fluent in Vietnamese (verbal and written skills).

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

Brief Job Description: Ensure quality performance for project and operations

AGUS SALIM Customer Relation Representative (mandarin Translation)

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

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

323.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Thorough, extensive & fluency in mandarin language and characters.

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

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

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati Basic Qualification: Experience in handling Team preferably in Japanese company setting

324.

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

Basic Qualification: Recommended by the head office Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Degree in Finance Management or Economics or MBA

Basic Qualification: Excellent in speaking, reading and writing in bilingual languages

TAO, JUNJIE Bilingual Admin Support Specialist Brief Job Description: Handles administrative requests and queries from senior managers/officers

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in speaking, reading and writing in bilingual languages

WANG, JUN Bilingual Admin Support Specialist 325.

Brief Job Description: Handles administrative requests and queries from senior managers/officers

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

VSL CIVIL WORKS PHILIPPINE BRANCH # 162, 2/f, Unit 201 D Paragon Plaza, Highway Hills, City Of Mandaluyong Basic Qualification: Minimum 15 years of experience on bridge construction project.

Knowledgeable with the operation of a launching gantry.

BURATHANANG, BUNCHAN Senior Erection Supervisor 326.

Brief Job Description: Organize equipment and operatives to safely and efficiently operate a launching gantry.

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

Salary Range: Php 500,000 and above

Basic Qualification: Bachelor of engineering

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

327.

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

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

328.

329.

330.

331.

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.

332.

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

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

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

Basic Qualification: Proficient in speaking, reading and writing in Chinese

Brief Job Description: Providing details to clients relative to services being offered

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

Brief Job Description: Providing details to clients relative to services being offered

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

Brief Job Description: Providing details to clients relative to services being offered

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

Brief Job Description: Providing details to clients relative to services being offered

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

WN WEATHERSTREET PHILIPPINE BRANCH 21/f Oledan Square, 6788 Ayala Ave., San Lorenzo, City Of Makati TSUCHIKO, TAKUMI Manager/ Branch Representative

333.

Brief Job Description: Providing risk information to the private business for their safe, efficient and systematic performance based on the observation and collections of data concerning weather conditions, oceanographic, hydrographic and terrestrial phenomena and forecasting

Basic Qualification: Confidential Employee appointed Salary Range: Php 150,000 - Php 499,999

XIDIAN ENERGY CONSTRUCTION CORP. Unit 1207 The Trade And Financial Tower, 32nd St. Cor. 7th Avenue, Fort Bonifacio, City Of Taguig Basic Qualification: Fluent in mandarin and English language both verbal and written

XU, JIANG Chief Project Coordinator 334.

Brief Job Description: Responsible for ordering equipment and supplies, managing deadlines and workflow

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

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

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

YANG, HUIXIN Chinese Language - Marketing Staff

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

Brief Job Description: Providing details to clients relative to services being offered

XIAO, MENGTING Chinese Language - Marketing Staff

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

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

Basic Qualification: Proficient in speaking, reading and writing in Chinese

SHI, ZIRAN Chinese Language - Marketing Staff

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

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

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

LIANG, WEIJIAN Chinese Language - Marketing Staff

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

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

Brief Job Description: Providing details to clients relative to services being offered HUANG, BOSHENG Chinese Language - Marketing Staff

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

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

Basic Qualification: Proficient in speaking, reading and writing in Chinese

DENG, FEIYAN Chinese Language - Marketing Staff

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills).

Brief Job Description: Play a key role on client’s engagements, managing studies to define client needs and supervising research activities to obtain relevant data

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SO CHANG YI Customer Relation Representative (mandarin Translation)

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

TIGER INFRASTRUCTURE PHILIPPINES INC. Rm 501 5/f Diamond Hotel Philippines, Roxas Blvd. Cor. Dr. J Quintos St., 076, Barangay 699, Malate, City Of Manila

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills).

Brief Job Description: Will be in charge of all technical or mechanical involvement in the production

KIRICHENKO, IVAN Principal

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills).

Basic Qualification: Japanese and English language proficient

No.

THE BOSTON CONSULTING GROUP - PHILIPPINES BRANCH 24/f Philamlife Tower, 8767 Paseo De Roxas, Bel-air, City Of Makati

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg., Edsa Corner Macapagal Ave. St. Zone 10, District 1, Barangay 76, Pasay City CHU QUANG TIEP Vietnamese Customer Service Representative

Brief Job Description: Determine and implements the company’s business plans and strategies and ensures the attainment of revenue targets through effective marketing and sales efforts in the assigned department

QUALIFICATION AND SALARY RANGE

SUNNEX PHILIPPINES INDUSTRIAL CORPORATION Warehouse B, Shinih Phils. Inc. Cmpd., Marcos Alvarez Ave. Del Nor Subd., Talon Singko, City Of Las Piñas

SOLIDLEISURE SOLUTIONS INC. Unit 2602-d & 2603-a West Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig ONG CHI MING Mandarin Technical Support

Brief Job Description: Assist to determine and implements the company’s business plans and strategies and ensures the attainment of revenue targets through effective marketing and sales efforts in the assigned department SUNOHARA, HIDENORI Manager, Infrastructure Business Department

Basic Qualification: A Native Speaker of the Mandarin Language (Spoken and Written)

SHANG SOFTWARE SOLUTIONS, INC. 11/f Pbcom Tower, Ayala Avenue, Salcedo Village, Bel-air, City Of Makati RATNASARI MAH Bahasa Indonesian Language - Trade Specialist

306.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ISHIKAWA, KEIJIRO Assistant Manager, Infrastructure Business Dept. (railway Project)

Basic Qualification: A Native Speaker of the Burmese Language (Spoken and Written)

SHANG SOFTWARE SOLUTIONS, INC. 11/f Pbcom Tower, Ayala Avenue, Salcedo Village, Bel-air, City Of Makati ANDREW LOTHAR MATTHEWS Bahasa Indonesian Language - Trade Specialist

No.

www.businessmirror.com.ph

MUHAMMAD AMIN Indonesian-speaking Customer Service Officer 335.

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

Basic Qualification: Indonesian speaking and written.

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

ZTE PHILIPPINES INC. Unit 29 Fort Legend Towers, 3rd Ave. Corner 31st St., Fort Bonifacio, City Of Taguig

ZHANG, CHAOHAO Chief Marketing Officer 336.

Brief Job Description: Responsible for design of telecommunication network.

Basic Qualification: Graduate of any four year course.

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jun 6, 2022

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

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

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

The World BusinessMirror

Tuesday, June 7, 2022 A13

Putin warns West against sending arms to Ukraine; missiles hit Kyiv

By John Leicester

A view of the St. Francis Catholic Church in Owo Nigeria on Sunday, June 5, 2022. Lawmakers in southwestern Nigeria say more than 50 people are feared dead after gunmen opened fire and detonated explosives at a church. Ogunmolasuyi Oluwole with the Ondo State House of Assembly said the gunmen targeted the St Francis Catholic Church in Ondo state on Sunday morning just as the worshippers gathered for the weekly Mass. AP/Rahaman A Yusuf

Over 50 feared dead in Nigeria Catholic church attack–officials

By Chinedu Asadu

A

The Associated Press

BUJA, Nigeria—Gunmen opened fire on worshippers and detonated explosives at a Catholic church in southwestern Nigeria on Sunday, leaving dozens feared dead, state lawmakers said.

The attackers targeted the St. Francis Catholic Church in Ondo state just as the worshippers gathered on Pentecost Sunday, legislator Ogunmolasuyi Oluwole said. Among the dead were many children, he said.

The presiding priest was abducted as well, said Adelegbe Timileyin, who represents the Owo area in Nigeria’s lower legislative chamber.

“Our hearts are heavy,” Ondo G o ve r nor R ot i m i A k e re dolu tweeted Sunday. “Our peace and tranquility have been attacked by the enemies of the people.”

Authorities did not immediately release an official death toll. Timileyin said at least 50 people had been killed, though others put the figure higher.

Videos appearing to be from the scene of the attack showed c hu rc h worsh ippers ly i ng i n pool s of blood wh i le people around them wailed.

Nigerian President Muhammadu Buhari said “only fiends from the nether region could have conceived and carried out such dastardly act,” according to a statement from his spokesman.

“No matter what, this country

shall never give in to evil and wicked people, and darkness will never overcome light. Nigeria will eventually win,” said Buhari, who was elected after vowing to end Nigeria’s prolonged security crisis.

In Rome, Pope Francis responded to news of the attack.

“The pope has learned of the attack on the church in Ondo, Nigeria and the deaths of dozens of worshippers, many children, during the celebration of Pentecost. While the details are being clarified, Pope Francis prays for the victims and the country, painfully affected at a time of celebration, and entrusts them both to the Lord so that he may send his spirit to console them,” the pope said in a statement issued by the Vatican press office.

It was not immediately clear who was behind the attack on the church. While much of Nigeria has struggled with security issues, Ondo is widely known as one of Nigeria’s most peaceful states. The state, though, has been caught up in a rising violent conf lict between farmers and herders.

Nigeria’s security forces did not i m med i ate ly res pond to questions about how the attack occurred or if there are any leads about suspects. Owo is about 345 kilometers (215 miles) east of Lagos.

“In the history of Owo, we have never experienced such an ugly incident,” said lawmaker Oluwole. “This is too much.” AP

Beijing opens up restaurants, cinemas as China eases curbs

L

ife in Beijing will take a step closer to returning to normal Monday, as the capital rolls back Covid-19 restrictions having previously declared the latest outbreak of the virus was under control.

Public transport will resume in most districts, except Fengtai and some parts of Changping, allowing workers to return to the office and restaurants to start dine-in services, local authorities said Sunday. Entertainment facilities like cinemas will open in most areas, with capacity capped at 75 percent. Residents are allowed to move about freely as long as they have a negative Covid test result within the past 72 hours. The previous requirement was 48 hours.

The capital reported 6 infections for Sunday, down from 19 on Saturday.

China has trumpeted its Covid Zero approach, which included an unprecedented two-month lockdown of Shanghai and harsh restrictions elsewhere, for bringing its outbreak under better control. But its success has come at an enormous economic and social cost and haven’t totally eliminated infections, underscoring the challenges officials would face if they tried to pivot away from a strategy that puts cities at constant risk of repeatedly locking down and reopening.

Local governments should strike a more efficient balance between Covid control and economic development, Lei Zhenglong, an official at the National Health Commission, said at a briefing on Sunday. Authorities have laid out nine arbitrary measures, including around travel and quarantine, that will be banned in order to ease the burden on the economy, he said.

China’s zero-tolerance approach has left the country isolated from the rest of the world and most economists predict it will fail to meet its growth target for this year. The cycle of lockdowns has roiled global supply chains, with some factories shut for months and residents subject to movement restrictions, mass testing and mandatory isolation of all Covid cases and their close contacts. Bloomberg News

K

The Associated Press

YIV, Ukraine—Russian President Vladimir Putin’s new warning to the West against sending longer-range rocket systems to Ukraine came as his forces claimed to have destroyed Western military supplies in their first such airstrikes on Ukraine’s capital in more than a month.

The attack showed that Russia still had the capability and willingness to hit at Ukraine’s heart, despite refocusing its efforts to capture territory in the east.

Putin’s comments, in a TV interview that aired Sunday, came days after the US announced plans to deliver $700 million of security assistance for Ukraine, including four precision-guided, mediumrange rocket systems, as well as helicopters, Javelin anti-tank systems, radars, tactical vehicles and more.

“All this fuss around additional deliveries of weapons, in my opinion, has only one goal: to drag out the armed conflict as much as possible,” Putin said. He insisted such supplies were unlikely to change the military situation for Ukraine’s government, which he said was merely making up for losses of similar rockets.

If Kyiv gets longer-range rockets, Putin added, Moscow will “draw appropriate conclusions and use our means of destruction, which we have plenty of, in order to strike at those objects that we haven’t yet struck.”

The US has stopped short of offering Ukraine longer-range weapons that could fire deep into Russia.

Military analysts say Russia hopes to overrun Ukraine’s embattled eastern industrial Donbas

region before the arrival of any US weapons that might turn the tide.

The Pentagon said last week that it will take at least three weeks to get the US weapons onto the battlefield. Russia-backed separatists have fought the Ukrainian government since 2014 in the Donbas.

Moscow also accused the West of closing off lines of communication by forcing Foreign Minister Sergey Lavrov’s plane to cancel a trip to Serbia for talks Monday.

Serbia’s neighbors closed their airspace to Lavrov’s plane, ministry spokeswoman Maria Zakharova told Italian television in comments reported by Russian news agencies. Earlier in the day, Serbian newspaper Vecernje Novosti had said that Bulgaria, North Macedonia and Montenegro would not allow Lavrov’s plane to come through. “ T his is another closed c h a n ne l of com mu n ic at ion,” Za k ha rova sa id.

T he m i s s i le s t h at st r uc k Ukraine’s capital, Kyiv, on Sunday destroyed T-72 tanks supplied by Eastern European countries and other armored vehicles, the Russian Defense Ministry said on the Telegram app.

Ukraine, however, said the missiles hit a train repair shop.

Ukraine’s railway authority led reporters on a guided tour of the repair plant in eastern Kyiv that it

A railway service facility hit by a Russian missile strike in Kyiv, Ukraine, on Sunday, June 5, 2022. AP/Natacha Pisarenko

said was hit by four missiles. The authority said no military equipment had been stored there, and Associated Press reporters saw no remnants of any in the facility’s destroyed building.

“There were no tanks, and you can just be witness to this,” said Serhiy Leshchenko, an adviser to the Ukrainian president’s office.

Yet a government adviser said on national TV that military infrastructure also was targeted.

AP reporters saw a building burning in an area near the destroyed railcar plant. Two residents of that district said the warehouse-type structure that billowed smoke was part of a tank-repair facility.

Police blocking access to the site told an AP reporter that military authorities had banned the taking of images there.

The Russian Defense Ministry also said air-launched precision missiles were used to destroy workshops in the Donetsk region of eastern Ukraine, including in Druzhkivka, that were repairing damaged Ukrainian military equipment.

And Ukraine’s General Staff said Russian forces fired five X-22 cruise missiles from the Caspian Sea toward Kyiv, and one was destroyed by air defenses. Four other missiles hit “infrastructure facilities,” but Ukraine said there were no casualties.

Before Sunday’s early morning attack, Kyiv had not faced any such

Russian airstrikes since the April 28 visit of UN Secretary-General António Guterres.

Russian forces remained focused on capturing Ukraine’s eastern cities of Sievierodonetsk and Lysychansk. West of those cities, in the towns of Sloviansk and Bakhmut, cars and military vehicles were seen speeding into town from the direction of the front line. Dozens of military doctors and paramedic ambulances worked to evacuate civilians and Ukrainian servicemen, many of whom had been hurt by artillery shelling.

The UK militar y said in its daily intelligence update that U k ra ini a n cou nterat t ac k s in Sie ve ro done t s k we re “ l i k e ly blunting the operational momentum Russian forces previously gained through concentrating combat units and firepower.” Russian forces had been making a string of advances in the city, but Ukrainian fighters have pushed back in recent days.

The statement also said Russia’s militar y was partly relying on reser ve forces of Luhansk separatists. “ T he s e t ro o p s a re p o orl y equipped and trained, and lack heavy equipment in comparison to regular Russian units,” the intelligence update said, adding that the move “indicates a desire to limit casualties suffered by regular Russian forces.”

Police: Tennessee shooting Nato holds Baltic Sea naval leads to 3 dead, 14 injured exercises with Finland, Sweden

H

ELSINKI—Nato kicked off nearly a two-week US-led naval exercise on the Baltic Sea on Sunday with more than 7,000 sailors, airmen and marines from 16 nations, including two aspiring to join the military alliance, Finland and Sweden.

T he a n nu a l B A LT OP S naval exercise, initiated in 1972, is not held in response to any specific threat. But the military alliance said that “with both Sweden and Finland participating, Nato is seizing the chance in an unpredictable world to enhance its joint force resilience and strength” together with two Nordic aspirant nations.

Finland and Sweden both have a long history of military non-alignment before their governments decided to apply to join Nato in May, a direct result of Russia’s Feb. 24 invasion of Ukraine. Over the past years, Moscow has repeatedly warned Helsinki and Stockholm against joining the Western military alliance and warned of retaliatory

measures if they did.

Ahead of the naval drill, which involved 45 vessels and 75 aircraft, the top U.S military official said in Sweden—the host of the BALTOPS 22 exercise—that it was particularly important for Nato to show support to the governments in Helsinki and Stockholm.

“It is important for us, the United States, and the other Nato countries to show solidarity with both Finland and Sweden in this exercise,” US Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, said Saturday during a news conference aboard the large amphibious warship USS Kearsarge, which was moored in central Stockholm.

Milley, speaking with the Swedish Prime Minister Magdalena Andersson, stressed that the Baltic Sea is a strategically important body of water—“one of the great seaways of the world.”

He said from Moscow’s perspect ive, Fin l and and Sweden joining Nato will be “very problematic” and leave

Russia in a difficult military position as the Baltic Sea’s coastline would be almost completely encircled by Nato members, except for Russia’s Baltic exclave of Kaliningrad and the Russian city of St. Petersburg and its surrounding areas.

Turkey, a Nato member that has had good relations with Russia, has objected to Finland and Sweden joining the military alliance, citing their alleged support for a Kurdish group that Turkey labels as terrorist. Nato’s chief has been trying to resolve the dispute.

T he United States has never before moved such a large warship as the 843-foot USS Kearsarge in the Swedish capital, where it sailed through narrow passages in the Stockholm archipelago, Milley said.

As Nato’s close partners, Finland and Sweden have participated in the naval drill since the mid-1990s.

BALTOPS 22 is scheduled to end in the German port of Kiel on June 17. AP

C

HATTANOOGA, Tenn.—A shooting near a Tennessee nightclub early Sunday led to three deaths and 14 people suffering gunshot wounds and other injuries, police said.

Fourteen people were hit by gunfire and three were hit by vehicles while trying to flee the scene, according to Chattanooga Police Chief Celeste Murphy.

Two people died from gunshot wounds and one person died after being hit by a vehicle.

Sixteen of the victims were adults and one was a juvenile and several remained in critical condition, she said.

Chattanooga Mayor Tim Kelly, who described himself as an “avid hunter” and gun owner, called on Congress to enact “common sense regulations” to address gun violence. Kelly is an independent.

“That doesn’t mean taking guns away from responsible gun owners, but it does mean mandatory background checks and prohibiting high-capacity magazines that allow shooters to hurt dozens of people without even having to reload,” he said at a press conference.

Kelly said his administration would announce new steps in the coming weeks aimed at reducing gun violence locally.

Officers responded to a report of a shooting at 2:42 a.m. on McCallie Avenue near a nightclub and found multiple victims upon arrival. Murphy said officers immediately began rendering aid and securing the scene.

There were multiple shooters and Murphy asked anyone in the community with information about the shooting to come forward. She said police believe it was an isolated incident and authorities don’t believe there’s an ongoing public safety threat.

Murphy said it would be a complex investigation going forward. “ We’re t r y i ng to deter m i ne e x ac t ly wh at h appened a nd wh at led up to t h is t a k i ng pl ace,” she sa id.

The shooting comes the weekend after six juveniles were wounded during an exchange of gunfire in a downtown Chattanooga business district.

“It’s going to be a long summer, and we have got to get out in front of it and put a stop to it,” Kelly said. AP

A14 Tuesday, June 7, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Global cost of living crisis getting worse

H

ungary holds the distinct honor of recording the most extreme monthly inflation rate in the 20th century. In July 1946, it experienced a post-World War II hyperinflation of 41.9 quadrillion percent (41,900,000,000,000,000 percent), amounting to prices doubling every 15.3 hours.

Zimbabwe broke Hungary’s hyperinflation record in November 2008 with a rate estimated at 79,600,000,000 percent per month, with the year-on-year inflation rate reaching an astounding 89.7 sextillion percent. Sextillion is a number equal to 1 followed by 21 zeros. This resulted in an incredible exchange rate of one US dollar fetching more than two billion Zimbabwe dollars, or Z$2,621,984,228 to be exact.

If you were charting the global economy in the time of the pandemic, you would know that countries around the world are currently dealing with a worsening cost of living crisis. Although no country is on the verge of posting hyperinflation similar to the two examples mentioned, inflation rates are accelerating to record levels worldwide.

Consumer prices in Turkey soared 73.5 percent in May from a year ago, hitting a two-decade high, according to official figures. Critics blamed President Recep Tayyip Erdoğan’s reluctance to raise interest rates, a common tool used to help cool surging prices, for Turkey’s inflation problems. The sharpest increases in annual prices were in the transportation sector, at 107.6 percent, followed by food and non-alcoholic drinks prices at 91.6 percent, according to official data.

From Bloomberg: “With inflation at 58 percent and accelerating, Argentina’s $500 billion economy is an outlier even in a world where prices are taking off almost everywhere. It’s not just a pandemic-era problem: while the historical statistics are suspect, Argentina hasn’t had single-digit inflation in at least a decade.”

From the Associated Press: “Eurozone inflation hit a record 8.1 percent in May amid surging energy and food costs fueled in part by Russia’s war in Ukraine.

Annual inflation in the 19 countries that use the euro currency soared past the previous record of 7.4 percent reached in March and April, according to the latest numbers published Tuesday by the European Union statistics agency, Eurostat. Soaring prices are weighing on household finances and making it more urgent for officials to act quickly to head off further increases in the cost of living. Energy prices jumped 39.2 percent, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone’s 343 million people.”

In the UK, an AP report said skyrocketing energy and food bills are pushing millions deeper into financial hardship. The cost of food and fuel in Britain has risen sharply, with inflation reaching 9 percent in April—the highest in 40 years. In the same month, millions of families saw their annual energy bills jump by 54 percent, amounting to an extra £700 ($863) a year on average for each household. A recent report from the International Monetary Fund said the UK is expected to be the slowest-growing economy out of the Group of Seven leading democracies in 2023 as the Ukraine war sets back the global economic recovery from the pandemic.

Annual inflation rate in the US hit 8.3 percent in April from a year ago, a rate that remains near its fastest pace in 40 years. Concerned most about skyrocketing gas prices and food costs, American workers complain that high inflation has wiped away some of their recent wage gains. Those at the low end of the income rung are once again struggling to make ends meet. Economists said the odds of the US going into a recession are rising.

In the Philippines, inflation rate in April surged to 4.9 percent from 4 percent in March. The bad news is that Saudi Arabia raised oil prices for July shipments to Asia. Bloomberg reported on Sunday that the world’s biggest oil exporter has raised prices for shipments sold under long-term contracts even after crude oil has already climbed more than 50 percent this year to almost $120 a barrel.

As the Philippines imports more than 90 percent of its fuel requirements, this means higher pump prices, which will push transport costs of goods. We hope that our economic managers will do the right things that can alleviate the pain of sky-high inflation. This early, however, we need to tighten our belts and eliminate unnecessary expenses.

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Lofty economic goals Manny B. Villar

THE Entrepreneur

T

he overwhelming mandate received by president-elect Ferdinand Marcos Jr. in the just-concluded elections has gifted him the right to steer the Philippines to nobler heights.

I can safely assume that Mr. Marcos and his incoming Cabinet will aspire for much higher economic goals given the trust he received from the majority of Filipinos. His leadership will focus on the economy to generate more jobs and lift millions of Filipinos out of poverty.

It may sound ambitious at this point given the challenges of the lingering pandemic, but one of the lofty economic goals is the pursuit of a sovereign credit rating of “A,” which is normally reserved for highly stable advanced economies. This is possible

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for the Philippines in the near term or in a couple of years.

The major debt watchers usually assess the credit scores of countries every six months. Before any actual adjustment, the agencies give a hint of what the rating may look like, usually in the form of positive, stable or negative outlook. A positive outlook indicates the credit rating may be upgraded, while a negative outlook indicates the opposite. A stable outlook means the rating may be maintained at the current level in the next six months.

T

he relationship between the Philippines and Foreign Direct Investment is complicated, maybe Johnny Depp/Amber Heard complicated.

The Philippines and FDI have had trouble with each other going back decades. It is obviously not fair to look at numbers prior to 1990 because we all know the 1980 decade of political and economic turmoil. It was the administration of Fidel Ramos that kicked off the search for potential investment suitors from the international community.

The “Foreign Investments Act of 1991” was passed to “Promote Foreign Investments.” “It is the policy of the State to attract, promote and welcome productive investments from foreign entities.” And for 30 years we have been struggling with that idea.

Not everyone agrees that FDI is beneficial to the nation. There is no consensus on how to get foreigners to invest. At the same time, there is “green with envy” jealousy about the FDI that goes to our neighbors.

“March 8, 2022: Malaysia’s 2021 investments hit record $73 billion.”

“The Philippines recorded its highest foreign direct investment net inflows ever in 2021 amounting to $10.5 billion.”

Why are we the last one asked to dance at the Junior-Senior Prom?

Maybe it is because “Vietnam spends more on research and development than the Philippines.” But habitually the go-to answer is something like “The Philippines trails Vietnam in graft and corruption, policy stability, and government responsiveness.” If only Joma Sison and his team were in charge, right?

Succeeding governments have attempted to change laws that might bring the foreigners in to “show us the money.” But we had a dismal performance until things started improving under “2010 Aquino” after President Arroyo put the government’s financial affairs in order. This positive investment trend continued—even through

Achieving a sovereign rating of ‘A’ or higher is just as important as being classified as an upper middle economy for the Philippines. In terms of real benefits, the former may even be considered more significant because it will help us pay our debt faster.

The Philippines now enjoys a ‘BBB’ rating from Standard & Poor’s, one of the three major global rating agencies, along with Moody’s and Fitch. The ‘BBB’ rating is a notch above the minimum investment grade of ‘BBB-’ and two notches below the ‘A’ rating. These ratings refer to the borrower’s strong capacity to meet its financial obligations.

Moody’s assigned a ‘Baa2’ rating on the Philippines’s debt, while Fitch affirms its “BBB” rating on the country. Both ratings are just two scores below the elusive ‘A’ score. The next upgrade for the Philippines would be ‘BBB+’, the rating now enjoyed

Read what the foreigners are saying: “The problem of adapting to changing regulations and policies”. In simple words, “Hey, Philippines, make a decision, stick to it, and look at changes after a couple of years.” the pandemic—under Duterte.

However, we cannot at the same time decide on what we think FDI is looking for in a country. Surveys of firms that have invested trillions around the world say this is their priority list: Wage rates, skilled labor, tax rates, the economy’s potential for growth, political stability, low volatility exchange rate, and access to free trade areas.

HSBC recently published its Navigator: Southeast Asia in Focus report, surveying more than 1,500 “FDI” companies with operations in the region. “The Philippines is seen as a strong market for future growth. One in 5 companies (21 percent) plan to expand here in the next 2 years, making the Philippines a close second (after Thailand) as the most preferred destination for investment.”

“The Philippines will continue to attract investment in the years ahead. What makes the Philippines particularly attractive for business expansion? A competitive wage price was mentioned by 30 percent surveyed.” “Proven economic resilience

by our Southeast Asian neighbors Malaysia and Thailand. Indonesia currently has a similar ‘BBB’ rating, while Singapore has an outstanding ‘AAA’ credit score.

I am hopeful that the ‘A’ rating for the Philippines from any of the three major agencies is forthcoming. Japan Credit Rating Agency, although not part of the three major global agencies, has already granted the Philippines its first ‘A’ credit score as early as September 2021. It would not take long before other agencies follow JCR’s action, as the Philippine economy proved resilient during the pandemic.

What makes me confident on our economic prospects under the Marcos presidency is the assurance of Bangko Sentral ng Pilipinas Governor Diokno of no recession in the Philippines in the coming years. The economy registered a first quarter gross domestic product growth of 8.3 percent, in line with the government’s revised full-year growth target of 7 percent to 8 percent.

See “Villar,” A15

in response to the pandemic” and “growing middle class” were considered attractive by 28 percent. “The future is bright for this market.”

What’s the downside to the Philippines? “The problem of adapting to changing regulations and policies was most likely seen as a “particular challenge” by international companies, with 36 percent of respondents selecting this.” And that may be the most important part of the report.

The nation has spent years debating what economic sectors we should target for FDI. We have spent more years on the questions of incentives and tax rates. We cannot reach any sort of agreement on our foreign investment restrictions. Further, there is always the genuine fear that, like the Mining Act of 1995, any legislation could be in the courts for decades.

Read what the foreigners are saying: “The problem of adapting to changing regulations and policies.”

In simple words, “Hey, Philippines, make a decision, stick to it, and look at changes after a couple of years.”

You know what they call people looking for a Perfect Love Relationship? Confirmed bachelors or Guānggùn (“bare branches”) and spinsters or Sheng nu (“leftover ladies”).

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

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Tax compliance is important

Imee Marcos: The super senator Manny F. Dooc

TELLTALES

Atty. Mabel L. Buted

Tax Law for Business

T

he power of taxation, along with the power of eminent domain and police power, is one of the inherent powers of the government. It is an inherent attribute of sovereignty. This means that it exists simply because the State exists.

It is unlimited, comprehensive and encompassing as it can cover almost every person, property or right. This power is exercised to raise revenues to defray the necessary expenses of the government. It is sometimes regarded as the strongest among the three inherent powers of the government, as taxes serve as its lifeblood. It is supreme.

In the valid exercise of this power, it can actually destroy. As once was opined by US Chief Justice Marshall, the “power to tax involves the power to destroy.”

I agree and I can attest to this.

We have recently seen how our tax authorities assess and enforce collection of taxes. Our Bureau of Internal Revenue can also suspend business operations and even close down business establishments, for some instances involving violations of the Tax Code.

The power to tax does not need to go this far—to destroy. Besides, its main purpose is to raise revenues for the government, and not to destroy.

However, when taxpayers are remiss in their duty to pay taxes, the government is left with no choice but to implement its mandate to assess and collect taxes, even if this results in destruction. The government needs to sustain its life through taxes.

The law and our courts will not also protect those who defy. Only those legitimate entities are accorded with constitutional protection. Destruction will happen only to those persons and entities that disobey.

The State will not also intend to kill the “hens that lay golden eggs.”

Hence, it is very important for taxpayers not only to comply but also to know their tax obligations. Otherwise, they will suffer the devastating consequences of non-compliance and contribute to their self-destruction.

Villar. . .

Continued from A14

The shift to alert level 1, increasing vaccination rate and the reopening of face-to-face classes have been crucial in supporting domestic demand, cushioning the impact of external events and achieving our growth targets.

Convincing the rating agencies to grant us a credit score of ‘A,’ meanwhile, will require the government to continue its fiscal consolidation plan to pay off the P3.2 trillion worth of debt incurred during the pandemic. The national government’s outstanding debt reached a record P12.68 trillion as of endMarch 2022.

While the Philippines’s debt-toGDP level of 63.5 percent remains manageable, it now exceeds the internationally prescribed best practice of 60 percent of GDP. So we may need to do some belt-tightening measures in our fiscal program, without affecting our economic recovery plan that involves financing major infrastructure projects. I am glad the incoming administration agreed to continue infrastructure development, including those under the public-private partnership arrangements, which will help ease the financial burden of the government.

The tax reforms passed by Congress have yet to fully show their benefits, but the rating agencies welcomed these measures as something positive for the country. Hopefully, they will help us attain the ‘A’ rating.

Ignorance will not save taxpayers from the destructive power of taxation, and more so for their negligence and evasion in paying taxes. The defense is always to come with clean hands. The law and our courts will protect them only if they do.

Interest and penalties alone on missed tax payments can cost taxpayers hundreds of millions of pesos. Mere failure or refusal to issue receipts and invoices, when required, could subject them to criminal prosecution. Unlawful pursuit of business and willful failure to pay will lead them to jail. Failure to file returns and report income and transactions that are subject to tax is likewise punishable by law.

Ignorance will not save taxpayers from the destructive power of taxation, and more so for their negligence and evasion in paying taxes.

The defense is always to come with clean hands. The law and our courts will protect them only if they do.

I therefore encourage our taxpayers to be faithful in knowing and complying with their tax obligations. Be compliant and the government can never destroy you. Seek the help of tax experts if you need to.

The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@ bdblaw.com.ph or call 8403-2001 local 160.

The beauty of a credit score in the ‘A’ scale is that it will lump the Philippines together with highly stable economies. This will inspire confidence among investors to take a second look at the Philippines and encourage lenders and debt markets to provide favorable interest rates on the country’s public and private sector debts. The lower interest loans will reduce our borrowing costs and, thus, enable the government to manage its finances better.

The sovereign rating also affects the credit scores of Philippine companies and banks. So every segment of the economy will benefit from a higher credit rating.

Achieving a sovereign rating of ‘A’ or higher is just as important as being classified as an upper middle economy for the Philippines. In terms of real benefits, the former may even be considered more significant because it will help us pay our debt faster.

I hope that we will attain both in the next six years under the incoming administration. Most of the reform measures have been put in place by the Duterte administration to make sure we will graduate to a higher economic and credit status in this decade.

The incoming administration is in a great position to attain these noble economic goals, which I hope, will translate into better quality of life for all Filipinos.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

Tuesday, June 7, 2022 A15

W

hen you’re the victor, you can say things you want to say and the world will listen. The landslide win of presidentelect BBM has definitely emboldened the Marcoses to say that from now on “we will not revise anything, all we will do is to also make known, make public what we know of the side of the story which we have perhaps been remiss in not telling simply because we were scared of the traditional media, of all the abuse, diatribe, the insult.… We’ll just tell our side of the story the best we can.”

So declared Senator Imee Marcos last week in an interview with the ANC Headstart. With over 31 million votes behind the victory of presidentelect Bongbong Marcos making him the first majority elected president of our country since his father and namesake, President Ferdinand E. Marcos, Sr., won over Senator Serging Osmeña in 1969, every word that Senator Imee utters carries considerable weight. As the elder sister of the president, Senator Imee holds a unique position in our government, the likes of which we have not seen before. She is the eldest child of the late President Ferdinand, Sr. and former First Lady Imelda Romualdez Marcos. Senator Imee was born on November 12, 1955 and was 16 years old when Martial Law was proclaimed on September 21, 1972. She was studying abroad at that time, completing her high school education. In 1973, she enrolled at Princeton University to pursue her college education. Upon her return from Princeton, she had her baptism in politics when she served as the chairperson of the Kabataang Barangay, the forerunner of the Sangguniang Kabataan, in 1976. In 1984, she was elected as one of the two Assemblymen representing Ilocos Norte to the Batasang Pambansa. She held on to this post until the Batasang Pambansa was dissolved following the Edsa People Power Revolution in February 1986. The US government flew Marcos and his family out of

the country to avoid further bloodshed. After Marcos’s death in 1989 while in exile, President Cory allowed his family, including Sen. Imee, to return to our country in 1991 in order to face several charges. Soon after their return, the Marcoses, led by the former First Lady, returned to politics by running for president in 1992 but she only placed 5th among the 7 candidates. Her only son, Bongbong, ran and won as Representative of the 2nd District of Ilocos Norte. Senator Imee was elected as Representative of the 2nd District of Ilocos Norte for three terms from 1998 to 2007. Thereafter, she served as governor from 2010 to 2019. On her first term as governor she defeated her cousin, Governor Michael Keon, who was running for reelection. On her next bid for governor, she ran unopposed. She ran for senator in 2019 and was elected No. 8 out of the 12 winning senators.

The second Marcos in Malacañang enjoys massive popular support. BBM’s total votes exceeded the combined votes received by all his opponents. This has been unprecedented since 1969. And this has not been lost to Senator Imee who expressed deep gratitude to the Filipino people for giving their family a second chance. The 2022 elections have shown that the Marcoses have regained the people’s trust, which they lost during the People Power Revolution. Now that they are given a second chance, they should not

squander their opportunity. If they truly want full vindication, the next 6 years should be marked by honest and dedicated service to our people.

Undeniably, Senator Imee carries a lot of undesirable baggage. Among them are questions over her academic credentials, the extrajudicial killing of student Archimedes Trajano where she was implicated, her unexplained wealth and ill-gotten wealth of her family and the tobacco excise tax funds issue. Senator Imee’s public life is shrouded in controversy and her opponents have exploited them to put her down, but she has not lost an election. She’s intelligent, articulate and has learned the art of extricating herself from a difficult and compromising situation. In many departments, she’s sharper than our president-elect.

Senator Imee personifies a resolute individual who is not broken by personal catastrophe. Her family was rejected by the Filipinos and driven out of the country in humiliation and defeat in 1986. But Senator Imee, together with her family, is strong and determined to redeem the family’s honor. She definitely embraces what one writer has said: “My past has not defined me, destroyed me, deterred me, or defeated me; it has only strengthened me.” Her family’s efforts to rebrand their name and reputation through social media took years to gain traction but they eventually paid off. Despite all the denials, the troll farms that started their operation long before BBM ran for president have waged massive disinformation, which whitewashed the human-rights abuses, corruption and abuse of power that marked the regime of the late dictator. The misinformation targeted the young voters who had no experience of the horrors of martial law. Millions of the uninitiated took a favorable view of the 2 decades of Marcos, Sr.’s reign and even considered the martial law years as the golden age of Philippine politics. This Marcos myth resonated with the poor and the underprivileged that strongly believe that the liberal democracy ideals exclude them and only work for the rich and the educated. In-

tegrity, honesty and accountability are empty slogans, which failed to lift the poor from misery and deprivation. The successive administrations of President Cory, Fidel Ramos and Noynoy Aquino had made good government their hallmark but they made no difference in the poor’s abject existence. BBM’s election as senator in 2010 and 2019, respectively, demonstrated that the Marcoses have recaptured their national constituency. BBM narrowly failed in his bid to win the vice presidency but he came back with a vengeance by subduing his opposition overwhelmingly in the recently concluded presidential elections. Senator Imee is known for her independent streak. Even as a young woman, she had defied her parents when it came to the affairs of the heart. Even as an ally of the ruling party, she caught everyone by surprise when she criticized the government’s handling of the pandemic last year. Although she did not sign the Pharmally report, initially Senator Imee supported the Pharmally investigation even if it meant offending the President and his allies. She participated in the probe and even asked tough questions against the President’s men. She assailed rice tariffication and voiced concern over the proliferation of smuggled agricultural products.

Despite being the elder sister of the incoming president, she did not take any interest in the Senate presidency. She has enough delicadeza not to occupy the third most powerful position in the land. She knows that when one family monopolizes power, it breeds tyranny and corruption. But even without holding a top position in the Senate hierarchy, she wields immense authority. More than anyone else in government, she will be consulted by the incoming president on official matters or otherwise. The people have resoundingly given them a second chance.

As the eldest sibling, Senator Imee is the keeper of the flame. Let’s pray that they will make up for the lost opportunities, repair the past, right the wrongs and leave a legacy that their family will be proud of and cherished by our people.

US recession is avoidable if Fed can ‘thread the needle’

By Rich Miller | Bloomberg Opinion

T

O hear some of the chatter in financial markets and corporate America’s C-suites, a US recession is imminent and inevitable.

Not necessarily so.

While the danger of a downturn has risen as growth has slowed, most economists argue a contraction is unlikely in the immediate future, given the continued strength of the jobs market and the more than $2 trillion in excess cash on household balance sheets.

It’s next year they’re more worried about, as the Federal Reserve’s continuing interest-rate hikes increasingly bite and decades-high inflation eats into that cash surplus.

But even then, an economic decline isn’t a slam-dunk. Ex-Fed official and Deutsche Bank AG economist Peter Hooper was among the first to forecast a recession, and puts the odds of one happening next year at 70 percent-plus. Yet he says he can still see some scenarios for avoiding one.

That would, to use the words of Treasury Secretary Janet Yellen, take luck and skill on the part of the Fed as it seeks to rein in surging prices.

Success will also depend on forces beyond the central bank’s control —a point Fed Chair Jerome Powell himself has made, amid supply-chain shocks caused by the pandemic and Russia’s Ukraine war.

Based on the critical assumption that the worst economic effects of Covid-19 and the war are behind, Moody’s Analytics chief economist Mark Zandi is betting the Fed can pull it off.

“I still think we’re going to navigate through without a recession. But obviously it’s going to be very, very tight because risks are very high,”

he said. A lot is at stake. A recession would likely throw hundreds of thousands of Americans out of work and trigger another big downdraft in the stock market. It would also spell further trouble for President Joe Biden, whose Democrats are already on the back foot in defending thin congressional majorities in November’s midterm vote.

Biden’s take

Biden on Friday touted the latest sign of strength in the jobs market even as he acknowledged it’s likely to be overshadowed in American minds by the pain of sky-high inflation.

Cracks are starting to show in an economy that’s coming off a growth rate that last year reached the highest since 1984. The housing market is buckling under the impact of a big jump in mortgage rates engineered by the Fed, with new home sales plummeting in April by the most in nearly nine years.

Technology companies that prospered during the height of the pandemic are retrenching and cutting staff. And retailers like Walmart Inc. and Target Corp. are trimming their earnings forecasts as they struggle with surging costs.

That’s set off alarm bells on Wall Street. The Nasdaq composite stock index has slumped into a bear market, while corporate bond spreads have widened to reflect a growing risk of recession.

Some corporate chieftains are working the worry beads too. Bigwigs from JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and billionaire entrepreneur Elon Musk to Gary Friedman, the head of furniture retailer RH, voiced wariness this week about the possibility of a downturn.

In a tweet on Friday, Goldman Sachs Group Inc. senior chairman

Lloyd Blankfein suggested that some of the gloom was overdone. “Dial back a bit the negativity on the economic outlook,” the former Goldman CEO said. While these are “riskier times,” the economy “may yet land softly.”

Megan Greene, global chief economist at the Kroll Institute, said recession concerns are premature. Consumers, the bulwark of the economy, still have a lot of financial firepower built up from earlier in the pandemic, when they were cooped up at home and showered with stimulus checks from the federal government.

And while the real estate market is turning, many are still benefiting from appreciated property valuations. Adding to collective consumer firepower is the rising number of employed people across the economy, with the May jobs report showing a 390,000 gain in payrolls and an unemployment rate holding close to a half-century low.

“Strong household and corporate balance sheets will keep growth positive for the next 12 months. Looking further out to late 2023, our model shows the risks of recession are elevated. A soft landing isn’t impossible.

It’s tough to make it the base case,” said Bloomberg economists Anna Wong and Andrew Husby.

That’s all enabling consumers to keep on spending in the face of higher prices for food, gasoline and other necessities. After stripping out inflation, growth in consumer outlays actually accelerated in April, data showed May 27.

‘Good shape’

“Consumers are in good shape,” Bank of America Corp. CEO Brian Moynihan told Bloomberg Television on May 24. “What’s going to slow them down? Nothing right now.”

But inflation will continue to eat

away at households’ nest eggs, making next year’s outlook more fraught.

“I don’t think we’re going into recession in the next 12 months,” Greene said. “It’s the 12 months after that, that I’m worried about.”

The fate of the economy in 2023 ultimately will depend on what happens with inflation and how high the Fed will have to raise interest rates to reduce it to acceptable levels. The Fed’s favorite inflation measure rose an annual 6.3 percent in April, more than triple the central bank’s 2 percent target.

Fed’s course

Deutsche Bank’s Hooper says the Fed may need to push short-term interest rates as high as 5 percent to wring inflation out of the economy.

That would be the highest since 2007 and well above the Fed’s current 0.75 percent to 1 percent target range.

“In order to relieve the inflation pressure in the labor market you’re going to have to see the unemployment rate rise,” Hooper said, sticking to his bet on a recession.

Oxford Economics chief US economist Kathy Bostjancic takes the other side of that trade. She puts recession chances at 35 percent, arguing that an unwinding of supply-chain strains and an influx of workers into the labor force will help alleviate inflationary pressures without requiring economy-breaking Fed tightening.

Another plus for the Fed: Investors, consumers and businesses seem convinced that, in time, it can get inflation under control, surveys and bond-market indicators show.

That means policy makers might not require a “punishing recession” to squeeze inflationary psychology out of the economy, JPMorgan chief US economist Michael Feroli said.

A16 Tuesday, June 7, 2022

NEW TOURISM CHIEF KEEN ON GROWING DOMESTIC TOURISM

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE incoming Tourism chief is intent on further promoting domestic travel to make tourism in the country more sustainable.

In a recent interview on Cignal TV’s The Chiefs, Tourism Secretary-designate Christina Garcia Frasco said, “I’d also like to emphasize the importance of not just focusing on foreign tourism, but also domestic tourism.

Here in Cebu, what really helped our local resorts and hotels was our own population, availing of their services when things started to open up…. We’ve seen as well, the improvement in economic status of our local tourists. They can now afford to go around either in their own province or in other places in the Philippines. So the approach cannot singularly be to focus on foreign tourists, but also to further develop domestic tourism.”

Pre-pandemic, in 2019, there were 110 million domestic travelers in the Philippines, while foreign tourist arrivals reached a historic 8.26 million. According to the Philippine Statistics Authority, foreign tourists spent P548.8 billion in 2019, up 23.2 percent from 2018, while domestic travelers spent P3.1 trillion, almost 11 percent higher than in 2018.

Frasco underscored the importance of tourism infrastructure and digitalization to ensure a smooth travel experience. “From the time that a person arrives at the point of entry until the time he arrives at the point of destination, there is this convenience.

That’s really where the improvement of physical infrastructure is very, very important, as well

as a convenience coming to the Philippines or going around the Philippines. And I believe that that’s where the introduction of digital infrastructure is also very important to provide innovation.”

Citing plans to promote lesserknown tourist destinations in the country, she used Camotes Islands as an example. “[It] has the most pristine beaches but because of difficulties in getting there, it’s not have had the opportunity to be fully developed. I believe that there’s still a wealth of potential also in Mindanao that has yet to be fully harnessed, and there is such a rich culture in our people in our country. We’ve only scratched the surface of the potential of the Philippines.”

Frasco said she would continue to promote food tourism.

“Definitely, [it] is something that should be given priority and much attention so that the experience of tourists, when they come to the Philippines, is multi-sensory that can satisfy not only their eyes, but also their stomachs and their senses. That can only come if you’re also able to provide food that’s very distinctive to the region that you’re visiting.”

She, however, may hold off on plans on further marketing the Philippines as a medical tourism destination. “Before having very lofty ideals as far as medical tourism is concerned, we need to take a serious look at the quality of the health-care systems all over the country. Also because we want to be able to give tourists the assurance that when they visit here, and should any untoward happen, that they will be well taken care of.”

She cited Singapore for its high quality health-care system that adds to its attractiveness as a tourism destination.

Tiger Resort execs file charges over ‘violent takeover’ at Okada Mla

By Joel R. San Juan @jrsanjuan1573

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HREE officials of Tiger Resort Leisure & Entertainment Inc. (TRLEI), which operates the country’s largest hotel-casino Okada Manila Resort in Parañaque, on Monday filed separate criminal complaints before the Department of Justice in connection with the “violent takeover “ by the group of gaming tycoon Kazuo Okada and his Filipino partner and businessman Antonio “Tonyboy” Cojuangco last week.

The complaints were filed by Japanese nationals Michiaki Satate, co-vice chairperson and director of Tiger Resort Leisure and Entertainment, Inc. (TRLEI); Hajima Tokuda, co-vice chairperson and authorized representative of Universal Entertainment Corporation (UEC); and James Lorenzana, a Filipino member of the Board of Directors of TRLEI. UEC, a publicly-listed company in Japan, owns 99.99 percent of TRLEI, the Philippine firm that owns and operates the Okada Manila Resort.

Satate filed grave coercion under Article 286 and unjust vexation under Article 287 of the Revised Penal Code (RPC), while Tokuda filed a complaint for kidnapping and serious illegal detention under Article 267, grave coercion under Article 286 and unjust vexation under Article 287 of the RPC. On the other hand, Lorenzana filed grave coercion under Article 286, slight physical injuries and unjust vexation under Article 287 of the RPC.

A ll the three complainants named the same respondents in their respective complaintaffidavits which include Okada; TRLEI president and board member Cojuangco; TRLEI board members Dino Espeleta, Maximo Modesto Flores, Tetsuya Yokota and Hiroshi Kawamura; Kazuo’s legal counsel Florentino “Binky” Herrera III; and several security guards who participated in the Okada takeover.

Satate and Lorenzana filed their separate complaints following the May 31, 2022 incident where they were forcibly ejected along with their lawyers from the premises of Okada by security personnel hired

by Okada’s camp.

They said all the elements of grave coercion exist against the respondent—preventing a person from doing something not prohibited by law; the prevention was done with violence or intimidation; and the person who restrains the will and liberty has no right to do so.

“Respondents, led by Kazuo, Cojuangco and Espeleta, have no right or authority of law to prevent me, Mr. Tokuda, Mr. Lorenzana, other officers and law yers of TRLEI from performing our jobs and peacefully occupying our respective offices,” Hajima said in his complaint-affidavit.

He noted that Okada’s camp failed to present a writ of execution pertaining to the status quo ante order (SQA) issued by the Supreme Court that became the respondents’ basis for forcibly ejecting them from Okada.

Continued on A5

Higher rice production costs seen to spur ₧6/kilo price hike

F

By Jasper Emmanuel Y. Arcalas

@jearcalas

ILIPINOS will grapple with more expensive rice in the coming months as the price of the staple could increase by as much as P6 per kilogram due to higher production costs both locally and internationally.

Agriculture Undersecretary for Policy, Planning and Research Fermin D. Adriano said the price of locally-produced rice may increase

by P4 to P6 per kilogram in the fourth quarter as a result of higher production costs and lower output.

Citing an analysis by the Philippine Rice Research Institute, Adriano said local rice farmers are spending more today to produce a kilogram of palay because of more expensive planting inputs, particularly fertilizer, which saw its prices triple on an annual basis, and fuel.

Adriano pointed out that the local rice farmers’ average production cost increased by P3.13 per kilogram. Filipino rice farmers spent on an average P11.52 to produce a kilogram of palay in 2020, based on Philippine Statistics Authority (PSA) data. “[The increase in production cost] will translate to an increase of about P4 to P6 per kilogram,” he told reporters in an interview on Monday.

Adriano said the higher cost of fertilizers forced some farmers to cut on the application of the planting input, which in turn, would result in lower palay yield.

Adriano added that the reduced application of fertilizer by farmers may slash the country’s total palay production this year by 1.1 million metric tons (MMT), which translates to at least 600,000 MT of rice.

T he average pr ice of urea (prilled) more than doubled to P2,998.55 per 50-kilogram bag on annual basis while the average price of urea (granular) rose by 164.34 percent year-on-year to P2,960.79 per 50-kilogram bag, government data showed.

Not isolated

ADRIANO also cautioned that the production challenges are not isolated to the Philippines since other rice-producing countries such as Vietnam and Thailand face the same problems.

However, what is worrisome, according to him, was that rice-exporting countries like Vietnam and Thailand also plan to “cartelize” their exports by raising their prices altogether while other countries are eyeing to limit their outbound shipments. Adriano pointed out that these situations would further put upward pressure on domestic rice prices as bulk of the Philippines’s rice imports come from Vietnam and Thailand.

Adriano added that another factor that could further put pressure on the global rice prices is if wheat-eating countries would shift to eating rice due to global supply problems of wheat caused by the Ukraine-Russia war.

“The P4 to P6 price increase is based on the premise that there is no export ban, but if there is, then we cannot say the extent of the increase in rice prices. International prices are already increasing and if their plans of cartel and export ban push through, then they would increase further,” he said.

The BusinessMirror broke the story last week that domestic rice prices could increase should the plan of Vietnam and Thailand to jointly raise export prices of the staple push through.

Vietnam and Thailand are the top rice suppliers of the country as they account for about 95 percent of annual import volume. Last year, Vietnam exported 2.36 MMT of rice to the Philippines while Thailand shipped over 131,000 MT of rice.

(Related story: https://businessmirror.com.ph/2022/05/30/ viet-thai-tandem-rice-price-hike-

to-hurt-phl/)

Government options

ADRIANO explained that the government has two options to cushion the impact of various global economic challenges on domestic rice prices: increase local production through subsidy and import rice to plug shortfall in supply.

Adriano said the Philippines may turn to non-traditional sources of imported rice, particularly India, where the export price of rice is even lower compared to Vietnam and Thailand.

“President Duterte made the correct decision to lower rice tariffs, which would benefit imports coming from countries like India,” he said. Duterte through Executive Order 171 extended the uniform 35-percent tariff on imported rice until the end of the year. (Related story: https://businessmirror. com.ph/2022/05/28/palace-eoextends-lower-tariffs-on-porkand-rice-until-december/) Adriano emphasized that rice importation is the government’s “temporary relief” to arrest price spikes in the domestic market due to supply woes. “It is just an emergency solution so people have something to eat. We cannot let our people go hungry,” he said.

Raising productivity

ADRIANO said raising local rice farmers’ productivity is the other option that the government has on table. But doing so, he said, would require a budget of at least P18 billion to subsidize farmers’ fertilizer costs.

Continued on A5

PRESIDENT-ELECT Ferdinand ‘Bongbong’ Marcos Jr. presides at a meeting with the members of his economic team led by Finance Secretary-designate Benjamin Diokno on Monday at his headquarters in Mandaluyong City. During the meeting, Marcos outlined his priorities and issued his marching orders that were mostly designed to tow the economy out of the woods after being severely battered by the Covid-19 pandemic. BBM MEDIA BUREAU

Marcos meets with envoys from Italy, Asean

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RESIDENT-ELECT Ferdinand ‘Bongbong’ Marcos on Monday met separately with ambassadors from Italy and different Asean countries, and discussed with them expanded cooperation between the Philippines and their respective countries.

The ambassadors relayed congratulatory messages of their heads of state on his victory in the May 9 elections, and affirmed their interest in improving bilateral and diplomatic relations between the Philippines and their countries.

Her Excellency (H. E.) Johairah Wahab and His Excellency (H. E.) Marco Clemente, Ambassadors of Brunei Darussalam and Italy, respectively, started the round of official visits for the day.

Afterward, Wahab, who is the Dean of Asean Ambassadors, led Thawat Sumitmo, Charge D’ Affaires of Thailand; and Ambassadors H.E. Songkane Luangmuninthone, Lao People’s Democratic Republic; and H.E. Agus Widjojo, Indonesia; H.E. Phan Peuv, Cambodia; H.E. Hoang Huy Chung, Vietnam; and H.E. Gerard Ho, Sin-

gapore to a meeting with Marcos.

One area for cooperation discussed was the Covid-19 response, including an exchange of strategies in the economic and health sectors geared towards post-pandemic recovery, which had been one of the priorities Marcos mentioned in his campaign.

Marcos also cited the possibility of strengthened collaboration in infrastructure-building, citing the current cooperation of countries like China in the Build, Build, Build program of the outgoing administration of President Rodrigo

Duterte.

For his part, the Italian ambassador shared his plan on improving people-to-people cooperation by bringing the Inter-Milan football club to the Philippines through its inter-campus project in the hope of helping children in need through sports and promoting football in the Philippines, at the same time.

Marcos and the ambassadors also agreed to expand diplomatic relations, not only government to government, but also through corporate and the private sector.

Companies

Editor: Jennifer A. Ng

Tuesday, June 7, 2022

B1

AC Energy, unit cancel share swap deal amid uncertainty

By Lenie Lectura

C

@llectura

iting unfavorable market conditions, AC Energy Corp.

(ACEN) said it has cancelled the property-for-share swap deal with its oil and gas exploration unit, ACE Enexor (ENEX).

“The respective Boards of Directors of ACEN and ENEX approved the cancellation of the property-forshare swap between ACEN and ENEX and for this purpose, both companies have signed the corresponding Deed of Cancellation of the Share Swap on the same day,” ACEN said.

The supposed deal involved the issuance of 339,076,058 ENEX shares to ACEN worth P3.4 billion in exchange for ACEN’s interest in Pala-

wan55 Exploration and Production Corp., Bulacan Power Generation Corp. (BPGC), CIP II Power Corp., Ingrid3 Power Corp. (Ingrid3) and One Subic Power Generation Corp.

(OSPGC).

Palawan 55 is the operator of Service Contract (SC) 55. BPGC owns and operates a 52MW diesel plant in Norzagaray, Bulacan. Likewise, CIP II owns a diesel plant (21MW) in Bacnotan, La Union. OSPGC, meanwhile,

leases 116MW diesel plant in Subic.

Ingrid3 is a development special purpose vehicle for a potential gas power generation project.

The deal would have required a follow-on offering and a stock rights offering, which will be challenging to execute under current market conditions.

“During the past few months, the management teams of ACEN and ENEX have exerted diligent and good faith efforts in planning and mapping out the implementation of the various steps needed to comply with the foregoing requirements.

However, this has proven to be very challenging given the economic uncertainties due to the continuing pandemic and exacerbated by the Ukraine-Russia conflict,” it said.

ACEN said it would continue to explore other means to transition the diesel assets and its direct ownership interest in Palawan 55, as ACEN remains committed to attain

100 percent renewable energy generation by 2025.

Meanwhile, ENEX will continue to explore relevant opportunities in energy transition space, including the opportunities under SC 55 as management continues to look for the right partner for this endeavor.

In Arpil, ACEN—the listed energy platform of the Ayala group—announced that it will pour in $200 million to partly fund its newly-formed partnership with ib vogt GmbH of Germany which seeks to build up at least 1,000 megawatts (MW) of renewable energy (RE) capacity in the coming years. ib vogt and ACEN have agreed to set up a platform to fund the construction and operation of largescale solar power plants throughout Asia. They will focus on late-stage, shovel-ready projects in Indonesia, Vietnam, Malaysia, Laos, Bangladesh and other countries in the region.

D&L expects to grow faster in Q2

By VG Cabuag @villygc

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hemical manufacturer D&L Industries Inc. said it expects to post stronger growth in the second quarter due to the reopening of the economy.

Alvin D. Lao, the company’s president and CEO, said while election spending was not felt in the first quarter, the company’s sales rose in the April.

Lao said the economy has picked up in the second quarter after the Covid surge in January and February and after quarantine restrictions were eased to a minimum.

“Airlines are reporting that things are almost back to normal. Traffic’s almost back to normal. Restaurants

Elliott sues LME over nickel chaos

are full again. More people are going on vacations. There are even graduation ceremonies and celebrations.

So, the second quarter, at least in terms of economic activity, looks quite good,” Lao said in press briefing after the firm’s annual stockholders’ meeting.

D&L managed to grow its earnings by 12 percent in the first quarter despite the surge and the imposition of stricter quarantine measures.

“If there is no new variant that will cause restrictions… I think a lot of companies should see quite good a performance not just this second quarter but for the rest of the year… and we will likely see that also having an impact on us,” Lao said.

During Monday’s meeting, the company declared cash dividends

amounting to P1.71 billion or P0.24 per share consisting of a regular cash dividend of P0.185 per share, plus a special cash dividend of P0.055 per share.

This translates to a dividend yield of 3.6 percent based on the June 3 closing price of P6.75.

This year’s dividend amounting to P1.7 billion or an increase of 26 percent from last year’s P1.4 billion, is equivalent to 65 percent of last year’s recurring income.

Shareholders of record as of June 21 will be entitled to the cash dividend. Ex-date is on June 16 and payment will be made on July 15, 2022.

Including this year’s payment, the company has returned a total of P13.2 billion in cash to shareholders through dividends since its initial

public offering in 2012. The company also paid a 100 percent stock dividend in September 2015.

In 2021, D&L booked P2.6 billion in net income. This is ahead of the pre-pandemic income recorded in 2019, despite stricter mobility restrictions in place for the majority of the year.

The positive earnings momentum continued in the first quarter with D&L’s earnings reaching P780 million, up 12 percent from the previous year.

First quarter earnings represent the highest quarterly income level for the company in three years despite the Omicron surge in January and soaring commodity prices caused by the ongoing conflict between Ukraine and Russia.

Raslag raises ₧700M from IPO

P

aul Singer’s Elliott Investment Management is seeking $456 million in damages from the London Metal Exchange (LME) over its decision in March to cancel billions of dollars worth of nickel trades after a massive short squeeze.

The move by the activist investor ratchets up pressure against the LME, which has been widely criticized for its handling of the crisis in nickel. The exchange is also facing a review by UK regulators, while the nickel market has been stuck in an extended limbo of low liquidity and volatility.

The suit was filed by two Elliott vehicles against the LME and its clearinghouse in the English High Court on June 1, according to a statement issued

by Hong Kong Exchanges & Clearing Ltd., which owns the LME. The LME said it views the claim as without merit, and will contest it vigorously.

The exchange suspended its nickel market on March 8 and controversially canceled $3.9 billion of trades after prices surged in an unprecedented squeeze centered around a large short position held by nickel tycoon Xiang Guangda. The crisis shook the metals industry and has thrust the LME into the global spotlight, with critics ranging from the International Monetary Fund to Citadel Securities chief Ken Griffin. Bloomberg News

Cebu-Bohol power link gets ERC nod

Photo from www.ngcp.ph

T

he Energy Regulatory Commission (ERC) has approved the National Grid Corporation of the Philippines’ (NGCP) CebuBohol 230 kilovolt (kV) interconnection project worth over P19 billion.

The transmission project is meant to avoid overloading of the LeyteBohol submarine cable and to continuously provide Bohol with quality, reliable, secure and affordable power supply. To achieve this, NGCP will directly interconnect Cebu and Bohol Islands via double circuit 230kV submarine cables.

“With the interconnection, the overloading of Leyte-Bohol 138kV submarine cable will be avoided and the Bohol Island would be provided with another source of power coming from the Island of Cebu,” NGCP said.

The project’s generation line rental costs will also be lower since local generators in Bohol may no longer be dispatched. Moreover, it will address security and reliability issues in Bohol since the project will provide another corridor of power directly from Cebu.

“NGCP’s proposed project is hereby approved in the amount of P19,614,654,716.53, subject to optimization based on its actual use or expenses incurred during the reset process for the next regulatory period, following the procedures stated in the Rules in Setting the Transmission Wheeling Rates and other relevant issuances of the Commission,” the ERC said in its decision promulgated last May 31.

The agency also directed NGCP to pay a permit fee of P147.1 million.

“A perusal of the evidence presented herein shows that the approval of NGCP’s application will redound to

DMW, St. Luke’s ink deal for new hospital

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Photo shows (from left) ASLAG Director Robert Gerard B. Nepomuceno and PSE COO Atty. Roel A. Refran; ASLAG Independent Director Atty. Pedro H. Maniego, Jr., ASLAG Chairman, President and CEO Engr. Peter G. Nepomuceno, PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division Head Atty. Marigel B. Garcia; ASLAG Independent Director Daniel Gabriel M. Montecillo, ASLAG Director Conrado D. Pecjo, Securities Clearing Corporation of the Philippines COO Renee D. Rubio and PSE General Counsel Atty. Veronica V. Del Rosario. Contributed photo

S

hares of Raslag Corp., an operator of solar farms in central Luzon, closed slightly higher during the company’s listing on the Philippine Stock Exchange (PSE) on Monday.

The company, trading under the stock symbol Aslag, rose 6 percent to P2.12 per share from its initial public offering price (IPO) of P2 per share.

Raslag raised P700 million from its IPO, proceeds of which will be used to fund the equity portion of RASLAG-4’s development and construction and the pre-development work for RASLAG-5 and other upcoming solar projects of the company.

“The listing of Raslag will grow the portfolio of companies in the

Renewable Energy space in our stock market. As an advocate of sustainability, being a member of the Sustainable Stock Exchanges Initiative, the PSE understands the crucial need for renewables in the fight against climate change. I am pleased that through this IPO, the PSE was able to support Raslag’s capital-raising activity,” Ramon S. Monzon, PSE president and CEO, said.

Monzon also cited the warm reception received by the Raslag IPO among Local Small Investors (LSI) who used the PSE EASy as their IPO subscription platform. The LSI tranche of Raslag was oversubscribed by 1.5 times, making it the fourth IPO to record an LSI oversubscrip-

tion since the launch of PSE EASy. Raslag is a domestic renewable energy developer founded by Peter G. Nepomuceno of the Nepomuceno family in Angeles City, Pampanga, and Conrado D. Pecjo, the business development manager of Angeles Power Inc. It currently focuses on the development of solar power projects, with two operating in Pampanga.

The company tapped China Bank Capital as sole issue manager, underwriter and bookrunner for the offer.

Nepomuceno, the company’s chairman, president and CEO, was among the attendees of a 2018 Listing Forum organized by the PSE and the Philippine Chamber of Commerce Inc. in Clark, Pampanga. VG Cabuag

the benefit of the electricity consumers in terms of continuous, reliable, and efficient power supply as mandated by Section 2 of EPIRA [Electric Power Industry Reform Act].”

Also, the ERC said that if the project is not implemented, the expected opportunity loss is greater in terms of economic impact and productivity, than the amount spent for the project cost.

In April, the NGCP reported that it has set aside P160 billion for capital expenditures (capex). The bulk of the proposed capex is allotted for transmission projects, including completed and ongoing projects, those in the pre-construction stage, and those still in the pipeline.

These transmission projects are located within and around Metro Manila such as the Pasay 230kV Substation, Manila (Navotas) 230kV Substation, Marilao Extra High Voltage Substation, New Antipolo 230kV Substation, Taguig Extra High Voltage Substation, Taguig-Taytay 230kV Transmission Line, and Taguig-Silang 500kV Transmission Line.

To meet the projected load growth in Metro Manila, three major 500/230kV drawdown substations will be developed. These will be in Taguig City; Marilao, Bulacan; and Silang, Cavite. These are to be complemented by the development of additional 230/115kV substations in Antipolo, Navotas, and Pasay.

The reliability of power transmission delivery to Metro Manila will be addressed through the development of new transmission corridors in Metro Manila such as the TaguigSilang 500kV and Taguig-Taytay 230kV lines. Lenie Lectura

.M. Wenceslao and Associates Inc. (DMW) on Monday said it signed a contract of lease with St. Luke’s Medical Center Inc. for a 13,896-square meter parcel of land in Aseana City in Parañaque.

The lease period is 50 years commencing in June, the company said.

The land lease will bring D.M. Wenceslao’s total leased out land to 164,895 square meters and will augment its recurring income.

St. Luke’s is one of leading healthcare institutions in the Philippines.

Its two facilities in Quezon City and Global City, Taguig have a combined total of 1,146 rooms, with over 60,000 average in-patient admissions and 2.7 million outpatient consultations annually.

In 2003, it was the first hospital in the country and the second in Asia to be accredited by the Joint Commission International (JCI)—the world’s leader in healthcare accreditation and quality improvement. In 2016, it was also the first in the country to be accredited by JCI as an Academic Medical Center Hospital.

“An integral part of holistic estate development is anticipating the needs of our locators. Immediate ac-

cess to world-class healthcare institutions is a fundamental need that we have identified at the onset. To have St. Luke’s Medical Center, the country’s leading healthcare institution, fill this need is an important milestone for Aseana City,” Delfin Angelo Wenceslao, DMW’s CEO said.

“St. Luke’s Medical Center Aseana City solidifies Aseana’s status as a top mixed-used CBD destination of major brands and best-in-class institutions in the country.”

“The rapidly growing Aseana City provides a compelling platform for St. Luke’s Medical Center to expand and scale operations to capture the robust healthcare growth in the country and in Southeast Asia,” Arturo De La Peña, president and CEO St. Luke’s, said.

“With proximate critical infrastructure connecting Aseana City to other Metro Manila CBDs, growing population centers south of Metro Manila, and to the Ninoy Aquino International Airport, St. Luke’s Medical Center Aseana City will be at the forefront of delivering high-quality patient-centered care and improving health outcomes through advanced technology.” VG Cabuag

B2

Companies BusinessMirror

Tuesday, June 7, 2022

PSE STOCK QUOTATIONS

June 6, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

17,500 162,882,275 674,805 100,246,967 1,125,020 1,628 697,604 31,105,981 23,219 2,387,578 27,405 4,355,742 182,493,497 50,565,512.50 1,232,880 813,050 452,200 335,000 296,886 103,510 13,760

-36,278,331 960 -19,663,141.50 10,800 -153,102 -8,649,812.50 9,139 5,787 -18,944,570.50 -7,398 140,000 92,000 -

INDUSTRIAL AC ENERGY 7.31 7.32 7.14 7.37 7.14 7.31 10,686,600 78,147,130 ALSONS CONS 1 1.02 1 1.03 1 1.01 221,000 223,000 ABOITIZ POWER 31.45 31.5 31.5 31.6 31 31.45 414,800 13,028,065 RASLAG 2.04 2.05 2.48 2.48 2.02 2.05 256,288,000 569,099,910 BASIC ENERGY 0.45 0.455 0.47 0.47 0.44 0.45 9,940,000 4,496,950 FIRST GEN 18.72 18.8 19.04 19.2 18.72 18.8 798,500 15,096,684 FIRST PHIL HLDG 67 68.5 67.8 68.5 67 67 12,770 859,035 MERALCO 361.2 362 369 369 358.2 361.2 129,690 46,808,222 MANILA WATER 17.6 17.68 17.4 17.8 17.4 17.6 175,800 3,094,384 PETRON 3.31 3.32 3.28 3.35 3.28 3.32 1,304,000 4,336,050 PHX PETROLEUM 9.23 9.85 9.2 9.86 9.2 9.85 25,500 250,849 SYNERGY GRID 12.14 12.16 12.28 12.28 12.14 12.14 419,400 5,117,730 PILIPINAS SHELL 18.96 19 18.7 19.1 18.7 19 242,200 4,599,844 SPC POWER 10.74 10.76 10.84 10.84 10.74 10.76 594,100 6,409,062 SOLAR PH 1.57 1.58 1.66 1.68 1.57 1.57 40,240,000 64,471,990 AGRINURTURE 4.64 4.69 4.72 4.74 4.6 4.69 686,000 3,217,800 AXELUM 2.22 2.32 2.24 2.25 2.22 2.25 200,000 448,460 CNTRL AZUCARERA 10.16 10.98 10.02 10.16 10.02 10.16 5,400 54,808 CENTURY FOOD 21 21.2 21.1 21.55 20.95 21 1,393,000 29,400,890 DEL MONTE 13.1 13.3 13 13.34 13 13.1 11,400 149,384 DNL INDUS 6.88 6.89 6.8 6.98 6.78 6.89 4,859,500 33,625,541 EMPERADOR 17.66 17.68 17.8 18 17.62 17.66 2,297,500 40,647,702 SMC FOODANDBEV 60 61 60.9 61 60 61 46,170 2,806,967 FIGARO COFFEE 0.495 0.5 0.49 0.52 0.49 0.5 1,422,000 718,370 ALLIANCE SELECT 0.59 0.6 0.6 0.6 0.6 0.6 5,000 3,000 FRUITAS HLDG 1.14 1.15 1.13 1.16 1.11 1.15 8,018,000 9,130,970 GINEBRA 107.5 108 110 110 107.5 108 14,770 1,589,954 JOLLIBEE 201 201.2 206.4 207.6 200.4 201.2 1,123,770 227,177,152 KEEPERS HLDG 1.17 1.18 1.19 1.19 1.16 1.18 1,462,000 1,722,910 MAXS GROUP 5.38 5.4 5.4 5.5 5.38 5.4 126,900 687,539 MG HLDG 0.12 0.125 0.12 0.125 0.12 0.125 120,000 14,450 MONDE NISSIN 14.2 14.42 14.5 14.6 14.18 14.2 6,990,400 100,007,450 SHAKEYS PIZZA 6.85 6.95 6.98 6.98 6.88 6.95 327,700 2,268,150 ROXAS AND CO 0.54 0.56 0.55 0.56 0.53 0.56 3,523,000 1,904,790 RFM CORP 4.15 4.28 4.07 4.29 4.07 4.29 4,000 16,720 ROXAS HLDG 1.1 1.17 1.08 1.08 1.08 1.08 40,000 43,200 SWIFT FOODS 0.096 0.1 0.099 0.1 0.096 0.096 200,000 19,520 UNIV ROBINA 105.6 105.7 107.5 107.5 105 105.6 417,620 44,105,399 VITARICH 0.6 0.62 0.59 0.63 0.59 0.6 131,000 77,950 CEMEX HLDG 0.69 0.7 0.71 0.71 0.68 0.69 4,356,000 3,030,240 EAGLE CEMENT 12.14 12.34 12.42 12.42 12.14 12.14 38,300 470,700 EEI CORP 3.22 3.24 3.28 3.4 3.22 3.22 456,000 1,489,240 HOLCIM 5.28 5.3 5.3 5.3 5.28 5.28 6,900 36,452 MEGAWIDE 4.19 4.2 4.29 4.31 4.19 4.2 713,000 3,015,760 PHINMA 19.1 19.8 19.7 19.8 19.7 19.8 60,000 1,187,010 VULCAN INDL 0.85 0.86 0.89 0.89 0.85 0.85 1,324,000 1,143,450 CROWN ASIA 1.74 1.8 1.77 1.81 1.73 1.78 135,000 236,320 EUROMED 1.01 1.09 1.09 1.09 1.09 1.09 2,000 2,180 MABUHAY VINYL 5.2 5.34 5.2 5.34 5 5.34 3,500 18,618 PRYCE CORP 5.33 5.4 5.33 5.4 5.33 5.4 7,100 37,955 GREENERGY 1.72 1.74 1.77 1.79 1.72 1.72 13,671,000 23,879,540 INTEGRATED MICR 6.8 6.82 6.82 6.82 6.8 6.8 134,700 916,890 IONICS 0.59 0.61 0.59 0.6 0.59 0.6 34,000 20,380 PANASONIC 5.89 6.26 6.19 6.28 6.19 6.28 600 3,732 SFA SEMICON 1.02 1.05 1.03 1.03 1.02 1.02 68,000 69,960 CIRTEK HLDG 2.79 2.83 2.79 2.84 2.78 2.79 644,000 1,808,240

14,710,714 1,000 -3,742,865 -7,687,900 -649,104 -128,190 -13,519,180 -1,045,210 557,360 -2,598,276 3,810 2,156 1,465,890 -819,640 -2,409,125 10,428 -8,561,653 -410,986.00 -1,312,329.50 4,900 -13,360.00 889,284 -136,897,210 1,180,000 -647,623 1,200 -13,789,412 1,900,779 73,430 8,140 -9,449,120 -1,149,060 9,936 -807,070 -633,440 -1,740 376,630 48,960 61,800 -33,480

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT LOPEZ HLDG LT GROUP METRO PAC INV PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

6,657,500 -194,069,865 -1,667,748 -383,812 1,790 -258,230 3,879,384.00 -27,573,701 -84,000 -16,193,699 -110,440 -18,794,301 -36,621,340 -4,686,425 29,666 -

HOLDING & FRIMS

43.75 128.7 9.51 95.1 26.9 6.74 7.3 53 7.03 18.78 55.55 19.8 88 82.6 2.08 3.44 890 0.67 190.2 2,302 0.72

1.45 661.5 51.7 10.7 8.95 0.88 0.455 4.69 8.99 499.6 3.44 51.55 2.94 8.43 3.74 1.89 2.8 0.85 860 105 111.7 0.27

44.85 129 9.52 95.3 26.95 8.14 7.35 53.05 7.79 18.84 57.9 20 88.25 83.5 2.16 3.45 900 0.68 200 2,400 0.76

1.46 665.5 51.75 10.78 9.06 0.9 0.46 4.74 9.05 500 3.5 52.5 3.07 8.46 3.75 1.9 3.08 0.86 861 107 115 0.3

43.75 128.4 9.65 95 26.95 8.14 7.32 53 7.04 18.86 55.5 19.8 90.1 82.7 2.04 3.55 930 0.67 204 2,302 0.75

1.43 697 51.2 10.9 9.1 0.9 0.46 4.8 9.29 502.5 3.5 53.2 2.95 8.37 3.77 1.98 2.88 0.86 860 108.4 115 0.27

43.75 129.8 9.65 96.45 27 8.14 7.39 53.3 7.04 18.86 57.9 20 91.15 83 2.19 3.55 930 0.67 204 2,302 0.77

1.46 698 51.95 10.9 9.1 0.9 0.485 4.8 9.29 503 3.5 53.55 3.19 8.55 3.77 1.98 3.08 0.86 864.5 108.4 115 0.27

43.75 127.5 9.51 94.35 26.7 8.14 7.3 52.2 7.03 18.78 55.5 19.78 88 82 2.01 3.45 900 0.67 190.1 2,300 0.75

1.43 661.5 50.75 10.64 8.9 0.88 0.455 4.65 8.95 499 3.5 51.55 2.95 8.37 3.72 1.85 2.88 0.86 855 105 115 0.27

43.75 129 9.51 95.1 26.95 8.14 7.3 53 7.03 18.78 57.9 19.8 88 82.6 2.16 3.45 900 0.67 190.1 2,300 0.77

1.46 661.5 51.7 10.78 8.9 0.88 0.46 4.7 9.05 500 3.5 51.55 3.19 8.46 3.74 1.89 3.08 0.86 861 107 115 0.27

400 1,263,070 70,900 1,053,540 41,800 200 95,000 587,590 3,300 127,100 480 220,000 2,050,790 609,280 580,000 234,000 500 500,000 1,540 45 18,000

41,138,000 460,800 174,120 246,300 18,900 51,000 130,000 217,000 6,752,300 91,620 24,000 756,570 202,000 5,661,200 19,850,000 399,000 2,000 72,000 245,190 190,200 40 50,000

59,079,960 307,557,050 8,932,729 2,650,134 168,546 44,970 59,750 1,025,470 61,040,873 45,801,652 84,000 39,461,749 622,330 47,998,312 74,449,130 754,120 5,960 61,920 211,122,120 20,316,106 4,600 13,500

PROPERTY

ARTHALAND CORP 0.56 0.57 0.56 0.58 0.56 0.58 71,000 40,030 AYALA LAND 29.9 29.95 30 30.1 29.3 29.95 6,684,700 198,842,210 AYALA LAND LOG 4 4.01 4.05 4.05 3.96 4 292,000 1,163,030 ALTUS PROP 15.4 15.42 16.14 16.14 15.2 15.4 158,000 2,462,556 ARANETA PROP 1.66 1.67 1.7 1.7 1.66 1.67 281,000 469,670 AREIT RT 39.7 39.8 39.7 40 39.7 39.8 96,400 3,841,840 A BROWN 0.78 0.81 0.77 0.79 0.77 0.79 34,000 26,610 CITYLAND DEVT 0.72 0.73 0.73 0.73 0.73 0.73 82,000 59,860 CROWN EQUITIES 0.089 0.09 0.093 0.093 0.089 0.09 1,140,000 102,640 CEB LANDMASTERS 2.65 2.68 2.7 2.7 2.64 2.65 258,000 689,420 CENTURY PROP 0.41 0.42 0.41 0.41 0.405 0.41 450,000 183,900 CITICORE RT 2.5 2.51 2.55 2.55 2.5 2.51 1,402,000 3,535,850 DOUBLEDRAGON 7.7 7.88 7.88 8.05 7.7 7.88 159,400 1,241,916 DDMP RT 1.54 1.55 1.57 1.58 1.54 1.54 1,089,000 1,690,840 DM WENCESLAO 6.78 6.8 6.78 6.78 6.78 6.78 20,100 136,278 EMPIRE EAST 0.216 0.218 0.217 0.218 0.217 0.218 310,000 67,280 EVER GOTESCO 0.285 0.29 0.31 0.325 0.285 0.285 107,560,000 32,715,350 FILINVEST RT 7.23 7.25 7.28 7.28 7.18 7.23 85,800 621,676 FILINVEST LAND 0.93 0.94 0.93 0.94 0.92 0.93 5,851,000 5,445,670 GLOBAL ESTATE 0.85 0.86 0.85 0.85 0.84 0.85 119,000 100,150 8990 HLDG 10.1 10.38 10.3 10.4 10.2 10.38 10,100 103,908 PHIL INFRADEV 0.95 0.96 0.95 0.96 0.95 0.96 109,000 103,850 MEGAWORLD 2.7 2.73 2.77 2.77 2.7 2.7 16,100,000 43,858,630 MRC ALLIED 0.208 0.209 0.216 0.216 0.207 0.209 1,550,000 324,020 MREIT RT 16.32 16.34 16.5 16.58 16.32 16.34 706,000 11,572,318 PHIL ESTATES 0.39 0.405 0.39 0.395 0.39 0.39 560,000 219,150 PRIMEX CORP 2 2.04 2.04 2.04 2 2.04 307,000 626,040 RL COMM RT 6.89 6.91 6.93 6.93 6.89 6.9 2,677,200 18,475,312 ROBINSONS LAND 19.1 19.4 19.2 19.4 19.08 19.4 949,200 18,323,044 PHIL REALTY 0.24 0.243 0.243 0.243 0.235 0.24 110,000 26,480 ROCKWELL 1.26 1.27 1.27 1.27 1.26 1.27 53,000 67,270 SHANG PROP 2.55 2.59 2.55 2.58 2.55 2.58 35,000 89,600 STA LUCIA LAND 2.85 2.97 2.79 2.97 2.79 2.97 44,000 129,810 SM PRIME HLDG 39.25 39.45 38.35 39.45 38.35 39.45 28,756,400 1,124,058,350 VISTAMALLS 3.21 3.39 3.32 3.39 3.21 3.39 40,000 131,710 SUNTRUST HOME 0.95 1.02 0.96 1.02 0.95 1.02 54,000 51,460 VISTA LAND 2.34 2.39 2.44 2.44 2.32 2.34 1,644,000 3,874,980

SERVICES ABS CBN 10.04 10.16 9.94 10.18 9.94 10.16 93,000 934,738 GMA NETWORK 11.08 11.12 11.32 11.34 11.06 11.06 428,400 4,809,242 MANILA BULLETIN 0.345 0.37 0.345 0.345 0.345 0.345 80,000 27,600 GLOBE TELECOM 2,360 2,364 2,340 2,368 2,326 2,364 22,350 52,661,480 PLDT 1,910 1,912 1,930 1,931 1,902 1,910 52,370 100,190,835 APOLLO GLOBAL 0.043 0.044 0.044 0.045 0.042 0.043 616,000,000 26,711,600 CONVERGE 23.85 23.9 25.25 25.25 23.6 23.85 23,566,800 568,330,225 DFNN INC 3.27 3.29 3.22 3.39 3.22 3.27 236,000 776,920 DITO CME HLDG 4.25 4.26 4.49 4.49 4.21 4.25 7,162,000 30,823,480 JACKSTONES 1.56 1.63 1.6 1.6 1.57 1.57 8,000 12,610 NOW CORP 1.33 1.34 1.38 1.39 1.33 1.34 2,606,000 3,533,390 TRANSPACIFIC BR 0.305 0.31 0.32 0.325 0.305 0.31 7,000,000 2,162,100 2GO GROUP 6.81 7 7.38 7.38 7 7 2,900 20,604 ASIAN TERMINALS 13.32 13.88 13.32 13.32 13.32 13.32 600 7,992 CHELSEA 1.47 1.48 1.46 1.48 1.45 1.48 127,000 185,420 CEBU AIR 44.45 44.5 45 45 44.3 44.45 246,000 10,947,470 INTL CONTAINER 215.4 216.2 215 216.2 211.2 215.4 602,470 128,175,954 LBC EXPRESS 23.1 25 23.05 23.05 23.05 23.05 800 18,440 LORENZO SHIPPNG 0.6 0.61 0.61 0.6 0.6 208,000 125,070 MACROASIA 4.76 4.78 4.83 4.86 4.7 4.78 956,000 4,585,060 METROALLIANCE A 0.92 0.99 0.99 0.99 0.99 0.99 9,000 8,910 PAL HLDG 6.16 6.19 6.19 6.19 6.16 6.16 9,500 58,704 HARBOR STAR 0.94 0.95 1.03 1.03 0.94 0.94 914,000 878,820 BOULEVARD HLDG 0.109 0.11 0.107 0.114 0.103 0.11 313,330,000 34,072,090 WATERFRONT 0.42 0.44 0.42 0.42 0.42 0.42 30,000 12,600 IPEOPLE 7.23 7.95 7.23 7.23 7.23 7.23 300 2,169 STI HLDG 0.34 0.355 0.35 0.355 0.345 0.355 100,000 34,950 BELLE CORP 1.26 1.27 1.27 1.27 1.27 1.27 56,000 71,120 BLOOMBERRY 6.27 6.28 6.38 6.43 6.18 6.27 2,949,200 18,451,290 PACIFIC ONLINE 1.3 1.38 1.38 1.38 1.3 1.31 69,000 90,520 LEISURE AND RES 1.34 1.35 1.29 1.37 1.29 1.34 3,950,000 5,269,040 MANILA JOCKEY 1.5 1.63 1.44 1.62 1.4 1.5 210,000 297,430 PH RESORTS GRP 1.16 1.17 1.2 1.2 1.1 1.17 2,309,000 2,626,260 PREMIUM LEISURE 0.41 0.415 0.41 0.415 0.41 0.41 5,430,000 2,230,000 PHIL RACING 4.8 5.32 4.8 4.8 4.8 4.8 1,000 4,800 PHILWEB 3.96 3.97 4.05 4.1 3.88 3.97 1,967,000 7,844,540 ALLDAY 0.375 0.38 0.38 0.39 0.365 0.38 28,690,000 10,765,250 ALLHOME 5.8 5.82 5.75 5.93 5.74 5.82 690,900 4,021,988 METRO RETAIL 1.44 1.45 1.44 1.45 1.43 1.45 654,000 940,430 PUREGOLD 33.2 33.25 33.6 33.85 33.05 33.25 475,400 15,808,530 ROBINSONS RTL 52.15 52.45 53 53.3 52.05 52.45 155,090 8,139,865 PHIL SEVEN CORP 55.5 56 55 56 55 55.5 5,380 300,915 SSI GROUP 1.33 1.34 1.35 1.35 1.33 1.34 1,705,000 2,277,400 WILCON DEPOT 27 27.05 27 27.1 26.8 27 199,400 5,384,575 APC GROUP 0.213 0.223 0.215 0.223 0.213 0.223 320,000 69,990 EASYCALL 3.9 4.1 3.9 3.9 3.9 3.9 10,000 39,000 IPM HLDG 6.8 7 7 7 7 7 8,500 59,500 MEDILINES 0.65 0.67 0.67 0.67 0.65 0.66 544,000 358,330 PAXYS 1.82 1.98 1.87 1.87 1.87 1.87 1,000 1,870 PRMIERE HORIZON 0.415 0.42 0.42 0.425 0.415 0.42 1,490,000 626,250 SBS PHIL CORP 3.88 3.98 3.92 3.98 3.78 3.98 25,000 97,070

MINING & OIL ATOK 7.5 7.59 7.98 7.99 7.5 7.5 360,800 2,763,771 APEX MINING 1.62 1.63 1.68 1.68 1.6 1.62 2,200,000 3,593,860 ATLAS MINING 5.96 6.07 6.27 6.27 5.96 5.96 519,600 3,117,553 BENGUET A 6.86 6.9 6.85 7.05 6.85 6.9 297,600 2,064,813 BENGUET B 6.98 7.1 6.95 7.19 6.95 6.98 58,300 408,717 COAL ASIA HLDG 0.22 0.239 0.221 0.222 0.221 0.222 240,000 53,270 CENTURY PEAK 2.63 2.78 2.65 2.78 2.6 2.78 156,000 414,620 FERRONICKEL 2.59 2.6 2.72 2.72 2.59 2.59 1,661,000 4,364,410 LEPANTO A 0.136 0.14 0.135 0.14 0.135 0.14 2,050,000 283,750 LEPANTO B 0.134 0.139 0.134 0.134 0.134 0.134 30,000 4,020 MANILA MINING A 0.0096 0.0099 0.0097 0.0099 0.0097 0.0098 49,000,000 481,800 MANILA MINING B 0.0096 0.01 0.0099 0.01 0.0099 0.01 18,000,000 179,800 MARCVENTURES 1.62 1.63 1.76 1.81 1.63 1.63 9,279,000 15,878,820 NIHAO 0.95 1 1.03 1.03 0.95 1 534,000 509,260 NICKEL ASIA 7.16 7.17 7.22 7.29 7.08 7.17 1,769,500 12,687,612 ORNTL PENINSULA 0.81 0.83 0.83 0.85 0.81 0.81 873,000 728,010 PX MINING 4.46 4.47 4.5 4.5 4.43 4.47 123,000 549,710 SEMIRARA MINING 35.9 35.95 37 37.25 35.25 35.95 6,608,400 238,040,810 ACE ENEXOR 10.24 10.36 12.5 12.5 10.04 10.36 1,895,000 20,565,954 ORNTL PETROL A 0.01 0.011 0.011 0.011 0.011 0.011 13,000,000 143,000 PHILODRILL 0.0089 0.0092 0.009 0.0091 0.0089 0.0091 17,000,000 152,000 PXP ENERGY 4.84 4.85 4.9 4.9 4.85 4.85 76,000 370,740

PREFFERED HOUSE PREF B 97.6 100 97.6 97.6 97.6 97.6 80 7,808 ALCO PREF C 100.6 108.3 108.3 108.3 108.3 108.3 70 7,581 ALCO PREF D 502 519 519 519 519 519 20 10,380 AC PREF B2R 495 502 499 502 495 502 2,040 1,009,980 BRN PREF A 104.2 107 107 107.8 107 107.8 590 63,530 CEB PREF 44.5 46 45 46 45 46 3,700 169,400 CPG PREF A 101.5 102 102.3 102.3 102.3 102.3 820 83,886 DD PREF 99.4 100 100 100 99.6 99.6 1,630 162,352 EEI PREF B 106 107 108 108 107 107 11,220 1,209,750 GTCAP PREF B 1,022 1,030 1,022 1,022 1,022 1,022 2,495 2,549,890 JFC PREF A 971 980 980 980 980 980 100 98,000 JFC PREF B 975 990 991 991 990 990 210 208,070 MWIDE PREF 2A 94 98.95 94.15 94.15 94 94 5,000 470,018 PNX PREF 3B 100.5 101 101 101 100.5 101 10,950 1,103,450 PNX PREF 4 975 980 985 985 985 985 10 9,850 PCOR PREF 3A 1,046 1,050 1,050 1,050 1,050 1,050 50 52,500 PCOR PREF 3B 1,080 1,081 1,081 1,081 1,080 1,080 15 16,210 SMC PREF 2F 76.7 76.95 76.95 76.95 76.9 76.95 22,160 1,705,209 SMC PREF 2I 77.5 78.6 78.6 78.6 78.6 78.6 5,350 420,510 SMC PREF 2K 74.35 74.95 74.3 74.35 74.3 74.35 1,500 111,475 TECH PREF B2C 51.5 53.5 51.5 51.5 51.5 51.5 300 15,450

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.39 10.2 9.39 9.45 9.39 9.39 170,000 1,602,300 GMA HLDG PDR 11.2 11.26 11.28 11.28 11.28 11.28 1,400 15,792

WARRANTS TECH WARRANT 0.5 0.53 0.51 0.53 0.5 0.53 301,000 151,850

45,859,865 -92,050 255,600 -1,159,430 58,400 45,890 -3,070 -60,089 10,330 -4,485,500 -400,136 -4,601,800 5,100 -8,064,640.00 1,156,248.00 -583,440 9,855,787 -3,213,918 2,540 -51,000 384,493,225 -1,005,960 1,415,220 -11,097,260 435,000 -183,372,105 1,209,560 -67,840 1,400 -7,992 -1,465,570 -26,204,716 18,000 71,370 4,800 -110,420 -62,230 3,907,234 -915,420 20,500 2,580,200 1,538,435 -72,000 3,595,865 -1,161,670 -25,000 605,250 -606,085 19,500 -66,900 30,260 -65,690 -1,213,657 216,540 -1,407,160 1,340 -11,760 4,553,669 98,390 64,333,710 -2,994,930 204,400 -651,642 11,280 -

SMALL & MEDIUM ENTERPRISES

CTS GLOBAL HAUS TALK ITALPINAS MAKATI FINANCE MERRYMART XURPAS

0.87 0.98 0.84 2.16 1.52 0.355

0.88 1.01 0.85 2.69 1.53 0.365

EXHANGE TRADE FUNDS FIRST METRO ETF

103.2

103.6

0.84 1 0.88 2.16 1.55 0.35

0.9 1.03 0.88 2.16 1.55 0.37

0.84 1 0.83 2.16 1.51 0.33

0.88 1.03 0.84 2.16 1.52 0.365

13,640,000 153,000 197,000 3,000 618,000 6,740,000

11,967,890 153,330 168,200 6,480 942,460 2,396,150

-158,760 1,530 -

104 104 103 103.3 7,210 745,448 62,162

www.businessmirror.com.ph

CDC exec: Pandemic didn’t foil investments in Clark

By Ma. Stella F. Arnaldo

I

@akosistellaBM Special to the BusinessMirror

NVESTMENTS in the Clark freeport zone are expected to further rise this year with the opening of the new passenger terminal at the Clark International Airport, and the rise of a new convention center.

In a recent news briefing, Dennis C. Legaspi, chief of the staff of the Clark Development Corp.

(CDC) President, and Vice President for Engineering, also pointed out that “despite the pandemic, investments went up in Clark.”

Data from the CDC showed an 8.3-percent increase in total investments to some P265.3 billion in 2021, even as the number of locators slipped slightly to 1,153.

Investments in the freeport last year were also 12.7 percent higher than the P235.6 billion recorded pre-pandemic, in 2019.

Of last year’s investments pie by locators, developers accounted for the largest piece at P97.24 billion, followed by the industrial locators at P65.18 billion, tourism at P48.32 billion, aviation-related at P17.08 billion, and services at P16.65 billion.

Other locators with the most investments last year were institutional at P6.25 billion, utility

at P5.96 billion, information and communications technology (ICT) at P4.9 billion, commercial at P2.5 billion, and agro-industrial at P3.8 million.

Low investments but top exporters Legaspi said exports of the freeport last year reached some $7.2 billion (P374.4 billion), with semiconductors still topping the list of exports. CDC data showed the top 10 exporters were led by SFA Semicon Philippines Corp. ($4.16 billion) and Texas Instruments (P1.8 billion). Others were Yokohama Tire Philippines, Nanox Philippines Inc., Amertron Inc., L&T International Group Philippines, Outback Five Starback Philippines, SMK Electronics (Phils.) Corp., BW Manufacturing Corp., and Viskase Asia Pacific Corp.

There were 121,341 workers employed in the freeport last year, with 49 percent of them working in the ICT/Service/Developers sec-

Peri-Peri forges partnership with local artists

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eri-Peri Charcoal Chicken and Sauce Bar, one of the fastest growing restaurant chains from Shakey’s Pizza Asia Ventures, Inc., launched an art initiative project dubbed as “Peri Paints”.

In line with Peri-Peri’s mission to be a purveyor of art and creative minds, Peri Paints is a collaboration with creative, young, local artists to develop specially commissioned art pieces featured at the restaurant chains’ stores.

Peri-Peri’s outlets are known for their eclectic, bright, and colorful design and ambiance, aimed at creating a special dining experience for its guests. To date, the art initiative has given birth to several wall murals such as those found at Peri’s new outlets in Vermosa, Gil Fernando, and Manila Central University. Apart from the murals, several interior store frames have also been unveiled at Capitol Commons, Glorietta, SM North, Greenhills, Nuvali, Gil Fernando and Vermosa.

Marielle Santos, the General Manager of Peri-Peri said, “We are very excited to roll out this project because it’s a great opportunity to engage local communities the ‘Peri-Peri Way’—fun, creative, and relevant. Through Peri Paints, we can nurture local talent and build sustainable partnerships with these young artists by elevating their careers.”

According to Santos, each art-

ist is commissioned for several projects, all in line with Peri-peri’s expansion program.

“We hope to strengthen the partnership by engaging with more artists and designers as we open in more locations in the future and continuously support their talents and livelihood,” Santos added.

The chain aims to continue its expansion as it sees more opportunities for Peri-Peri in Metro Manila and key cities in nearby provinces.

Santos said, “Creativity is in our DNA. The past two years have been challenging because of the pandemic, but we were still able to power through, expand our network, and reach more guests by being creative with our store models.

We built multi-branded stores and Peri Juniors, all of which allowed us to open up in new areas and engage local communities effectively and efficiently.”

“We hope that the pandemic will soon be behind us. We’re already feeling the uplift from the reopening of the economy and are looking forward to growing our store network by at least 30 percent this year,” she added.

Since its acquisition, Peri-Peri has more than doubled its store network in the country. The restaurant chain has 54 stores nationwide, with the latest store being opened in Subic, Zambales, a coastal tourist town in Central Luzon.

tor, and 35 percent in the industrial/manufacturing sector.

While the tourism sector has among the lowest investments and employees of all locators, it attracted 1.35 million arrivals in 2021. The freeport is also proving to be a major meetings, incentives, conferences, exhibits (MICE) destination having hosted 52 events last year, with participants reaching 17,874.

Legaspi said at the recent launch of the SMX Convention Center in Clark, “This is truly a welcome addition to what we have here in Clark. We cannot claim to being the destination of choice if we don’t have a convention center big enough to host local and international events, including MICE.” (See, “Social events driving SM Group’s MICE business,” in the BusinessMirror, May 24, 2022.)

New carriers landing in CRK Clark International Airport (CRK) is expected to help boost those arrivals numbers. According to Terri Flores, communications

manager of the Luzon International Premiere Airport Development Corp. (Lipad), “All the old airlines are coming back, along with new carriers.”

By July 16, she said a new carrier, South Korea’s low-cost Fly Gangwon will be offering flights four times a week between Clark and Yangyang. It will be using a B737-800, which carries 186 passengers.

Prior to the pandemic, in 2019, there were 17 airlines flying 19 domestic and 14 international destinations via CRK, with arrivals that year reaching 4 million. The airport has just opened its new passenger terminal to the public, which can accommodate up to 8 million passengers a year.

Lipad is the consortium composed of Filinvest Development Corp., JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc., and Changi Airports Philippines Pte. Ltd., which will operate and maintain CRK for 25 years.

mutual funds

June 6, 2022

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 217.25 -0.74% -6.41% -4.82% -6.8% ATRAM Alpha Opportunity Fund, Inc. -a 1.4115 8.29% -4.98% -2.77% -15.18% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9846 -0.11% -10.31% -7.4% -7.82% Climbs Share Capital Equity Investment Fund Corp. -a 0.7272 -4.95% -8.32% n.a.

-3.87% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6701 -5.79% -8.69% n.a.

-13.08% First Metro Save and Learn Equity Fund,Inc. -a 4.8783 2.19% -3.9% -2.49% -5.87% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7263 5.31% -6.23% -5.43% -7.28% MBG Equity Investment Fund, Inc. -a 78.68 -17.66% -13.6% n.a.

-16.68% PAMI Equity Index Fund, Inc. -a 44.5643 -0.38% -5.27% -3.44% -7.4% Philam Strategic Growth Fund, Inc. -a 465.59 -1.1% -5.16% -3.44% -7.01% Philequity Dividend Yield Fund, Inc. -a 1.3224 16.55% -0.22% -0.01% -2.5% Philequity Fund, Inc. -a 34.126 2% -4.42% -2.29% -6.75% Philequity MSCI Philippine Index Fund, Inc. -a 0.8787 1.01% -5.8% n.a.

-6.66% Philequity PSE Index Fund Inc. -a 4.6087 0.57% -4.65% -2.81% -7.1% Philippine Stock Index Fund Corp. -a 768.42 0.15% -4.69% -2.86% -7.25% Soldivo Strategic Growth Fund, Inc. -a 0.6873 -0.84% -9.96% -5.67% -8.68% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4618 -0.41% -7.38% -4.19% -8.31% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8748 -0.21% -4.99% -3.11% -7.38% United Fund, Inc. -a 3.2149 0.18% -5.1% -2.11% -6.47% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0998 4.22% n.a. n.a.

-5.41% Philippine Stock Index Fund Corp. -a 936.49 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 103.591 0.6% -4.47% -2.46% -7.07% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9765 -24.32% 0.61% -0.28% -13.32% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5665 -11.26% 8.39% 6.04% -15.16% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.581 -5.28% -3.04% -2.54% -6.56% ATRAM Philippine Balanced Fund, Inc. -a 2.1548 -2.81% -2.51% -2.02% -5.55% First Metro Save and Learn Balanced Fund Inc. -a 2.5842 0.72% -0.91% -0.41% -3.97% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2004 4.32% n.a. n.a.

-4.11% NCM Mutual Fund of the Phils., Inc. -a 1.9312 -0.39% -0.06% 0.11% -4.24% PAMI Horizon Fund, Inc. -a 3.5505 -2.8% -1.54% -1.23% -5.7% Philam Fund, Inc. -a 15.9022 -2.88% -1.77% -1.28% -5.6% Solidaritas Fund, Inc. -a 2.0269 -0.89% -1.98% -1.33% -4.45% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.42 -1.72% -4.13% -2.15% -6.23% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8963 3.24% -3.52% -1.61% -6.07% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9211 -5.68% -3.14% n.a.

-6.94% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8629 -3.7% -5.17% n.a.

-8.64% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8532 -3.31% -5.44% n.a.

-8.64% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03412 -10.19% -2.42% -0.93% -10.07% PAMI Asia Balanced Fund, Inc. -b $0.9632 -16.45% 0.34% -0.09% -9.74% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1631 -11.06% 4.84% 3.92% -13.31% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.055 -11.37% 0.5% 0.81% -11.98% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 372.55 0.27% 2.16% 2.26% -0.47% ATRAM Corporate Bond Fund, Inc. -a 1.8891 -1.41% 0.01% 0.12% 0.23% Cocolife Fixed Income Fund, Inc. -a 3.2297 0.12% 2.03% 3.36% -0.44% Ekklesia Mutual Fund Inc. -a 2.181 -3.24% 0.12% 0.73% -3.13% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4115 -0.93% 1.7% 1.72% -0.6% Philam Bond Fund, Inc. -a 4.2135 -5.92% 0.81% 0.68% -4.14% Philam Managed Income Fund, Inc. -a 1.3108 -0.9% 2.78% 2.67% -0.63% Philequity Peso Bond Fund, Inc. -a 3.8822 -2.36% 2.16% 2.21% -2.11% Soldivo Bond Fund, Inc. -a 1.0067 -1.89% 2.58% 1.63% -2.09% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1414 -1.91% 2.37% 2.73% -1.44% Sun Life Prosperity GS Fund, Inc. -a 1.7002 -2.57% 1.48% 2.03% -1.76% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $482.72 -0.47% 1.87% 1.87% -1.4% ALFM Euro Bond Fund, Inc. -a Є213.3 -2.98% -0.45% 0.16% -3.05% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0818 -8.39% -2.68% -0.71% -10.14% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0245 -5.41% -1.2% -0.32% -5.77% PAMI Global Bond Fund, Inc -b $0.918 -12.49% -5.27% -3.17% -10.25% Philam Dollar Bond Fund, Inc. -a $2.2602 -9.33% -0.6% 0.31% -9.8% Philequity Dollar Income Fund Inc. -a $0.0609019 -3.1% 1.21% 1.3% -2.23% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8304 -10.31% -2.3% -1.13% -11.44% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 131.85 1.3% 2.32% 2.51% 0.5% First Metro Save and Learn Money Market Fund, Inc. -a 1.0628 1.03% 1.62% n.a.

0.48% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3242 1.53% 2.2% 2.48% 0.65% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0632 0.58% 1.18% n.a.

0.25% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 44.194 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2441 -0.1% n.a. n.a.

-10.04% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8612 -13.88% n.a. n.a.

-11.22% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

d - in Net Asset Value per Unit

(NAVPU).

1 - 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

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, June 7, 2022

B3

Act on rising fuel prices, 19th Congress urged

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By Jovee Marie N. dela Cruz

@joveemarie

OLLOWING the latest oil price hikes, lawmakers called on the next Congress to immediately pass a law suspending excise taxes on diesel, gasoline, cooking gas and other oil products.

Deputy Speaker Rufus B. Rodriguez and House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani T. Zarate said the next Congress should pursue the proposal to suspend excise taxes on petroleum products.

Rodriguez said prices are expect-

ed to go up because of the European Union’s decision to ban 90 percent of its oil imports from Russia by the end of the year.

Already, the cost of crude oil in the international market has jumped to more than $110 per barrel following the EU’s decision, he said.

The House leader said he would refile his bill that would shelve the collection of fuel taxes for four years, the period he expects the economy to recover from the pandemic scarring and the effects of the Ukraine-Russia war on the economy.

“The suspension will bring immediate relief to our people,” Rodriguez said.

He added that his proposal seeks to suspend the tax increase imposed under Section 43 of Republic Act (RA) 10963, or the Tax Reform for Acceleration and Inclusion (Train) law.

Rodriguez explained that enacting the bill will cut pump prices by P6 per liter for diesel, P3 per kilogram for liquefied petroleum gas, P5 for kerosene and P5.65 per liter for gasoline.

For his part, Zarate said the Makabayan bloc maintained its stand that the “best way to go is to again regu-

late the downstream oil industry in our country” to “effectively address the current oil price crisis.”

“But for immediate relief to our people, we call on the next Congress and the next administration to immediately pass a law that will suspend the collection of the excise taxes on oil now,” the Davao-based solon said.

Bayan Muna and other members of the Makabayan bloc filed House Bill 4711 to regulate the downstream oil industry, HB 244 to re-nationalize Petron Corp. and HB 4712 or the centralized procurement of petroleum in the country.

Members of the bloc has also filed HB 10386 or the Unbundling Oil Prices Act of 2021 and HB 243 titled “An Act Reversing Repressive and Anti-Poor Taxation, Repealing for the Purpose Certain Sections of

RA 10963 Otherwise Known as Tax Reform For Acceleration and Inclusion Act.” Prices of diesel and gasoline would increase by P6.65 and P2.70 per liter, respectively, on June 7. Pilipinas Shell Petroleum Corp, has announced prices of its kerosene products would increase by P5.45 per liter.

Revenue sources

HOWEVER, Sen. Win T. Gatchalian, incoming Ways and Means Committee chairman, has rejected calls to suspend excise tax on oil products.

“I do not favor that because that spells a big loss to government coffers,” Gatchalian said adding the move “will do more harm, because public services will suffer” as government faces a P200-billion loss.

The Senator said he would rather focus on targeted “ayuda” (subsidy)

for affected sectors like drivers of Public Utility Vehicles or tricycles.

The ones most in need should be directly helped, Gatchalian said.

But, the senator stressed that “time is of the essence, ruing that more often, “targeted nga pero patay na ang kabayo [but it gets there too late], by the time the subsidy arrives; aid gets to them after six months.”

Likewise, Gatchalian suggests that government should “look at vices and non-essentials, i.e., gambling.”

The senator cited the need for digital payments to have speed, saying: “If e-sabong can be paid via G-cash, what more with ayuda?”

On proposals to impose a “Wealth Tax,” the senator acknowledged this merits attention, promising, “We will study that very well.” With reports from Butch Fernandez

The cost of unprepared children Pagcor avers neutrality in Okada dispute, denies bias

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INANCIAL literacy has been one of the main subjects that has to improve in the Philippines. Over the past years, it has been the same household dilemma: the idea of not speaking about money truths during family meals, as well as discussing financial planning even before marriage and even as a casual topic among families.

I joined the financial services industry in 2012 and I have encountered parents having to argue with Millennials and Gen Z children on how to manage their finances. However, I have encountered Millennials and Gen Zs who are now much more adept to financial planning because of the availability of information both offline and online and are now more active in discussing financial matters with their elders. But what is the cost of being prepared for your own finances without considering that you have aging parents?

I am fortunate that both of my parents were able to prepare for their retirement. But is it only retirement that is important?

My father, who has been hypertensive since his early 20s, eventually had diabetes mellitus at age 55 and an enlargement of the heart and prostate condition at age 60. My mom also had a heart condition at around age 40 and later on diagnosed with breast cancer at age 63. My father passed away due to cardiac arrest in May 2021 while my mom passed away in April of 2022; their passing away only 11 months apart. Imagine the stress and lifestyle they had in their younger years.

I remember my dad took an early retirement at age 60, spent a portion of his retirement for house improvement.

As a financial planner, I was able to find a way to discuss financial matters with my father who also wanted to get into business using his retirement fund.

I told my dad that he needs to focus on his freedom and use his retirement fund according to the kind of lifestyle he desires during retirement. But if he really wants to get into business, I urged him to use only a portion of his retirement fund because retirement fund is meant for retirement and not for business.

However, during retirement, there are still bills to pay—utilities, Internet and landline connection, water—and food and other fixed expenses that will not stop even if a person retires or get sick.

A few months after my dad’s retirement he started to have severe prostate and cardiac issues, not to mention several visits to the emergency room, check-ups, laboratory work-ups and as well as angiogram and angioplasty that cost close to P1 million for an hour procedure. His monthly maintenance medicine cost P18,000.

So imagine how far his P14,000 SSS pension can go? Fortunately, my brother and I always talked about how we are going to help our parents in terms of augmenting their needs.

As adults with aging parents, a back

By Bernadette D. Nicolas @BNicolasBM

Jendee de Guzman

personal finance up plan is still recommended because nowadays the cost of hospitalization is way higher than before because of inflation.

You are fortunate if your parents were able to set a side something for their health and retirement; it’s also a plus if they have a health and life plan. But from my personal experience, due to our parents’ severe conditions, my brother and I had to take out our savings and other investments because our parents were one or two hospitalizations away from going bankrupt.

As preparation, get a life insurance and health plan for your parents the soonest possible time. Since they are aging, be aware as well that it might be costly but there are a lot of available programs in the market today that are cash-flow friendly.

Also, given the time and opportunity, open an account specifically for assistance for your aging parents. As Filipinos, despite majority of our population going through the sandwich generation, we cannot afford to not care for our aging parents.

Another option is to speak with a financial planner as to how your aging parents will distribute their income, especially when they retire so that the retirement income will still earn enough to upkeep their lifestyle and lifespan.

Regardless of the fact that they are aging, you also have a life to grow end enrich with.

Aside from money, being prepared also covers mental and physical preparedness. Things like who’s going to go with your parents during check-ups and procedures or who is gong to be with your parents if there is a hospital confinement. Who’s going to take care of your aging parents after hospitalization? Are you willing to be with them every day knowing that that their strength is not the same as when you were only 5 years old? Not to mention the leaves you have to take if you are currently employed.

And, depending on your family’s situation, you might also want to run the cost of hiring a caregiver.

Being unprepared children costs more than you can imagine. My challenge to you now is prepare now while you have the best moment with aging parents.

Life is short and, before you know it, you are also an aging parent.

Jendee de Guzman is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 96th RFP program this July 2022. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

S

TATE-run Philippine Amusement and Gaming Corp. (Pagcor) denied being biased towards the group of Japanese casino magnate Kazuo Okada in the ongoing intra-corporate dispute involving Okada Manila.

Pagcor emphasized its “neutrality” in the dispute after it was reported that Manila-based Tiger Resorts, Leisure and Entertainment Inc. (TRLEI), which operates Okada Manila, took issue with what it called premature bias shown by the regulator on the matter.

To recall, Kazuo Okada’s group last week took over the management

of the $2-billion integrated resort and casino in Entertainment City.

“Pagcor emphasized its neutrality in the intra-corporate dispute in [TRLEI] in light of news reports accusing the regulator that it is biased in favor of the group of Kazuo Okada,” the regulator’s statement issued last Monday read. “Pagcor has only recognized and will only recognize the orders of the Supreme Court and will exercise its authority as regulator without violating or disrupting the SQAO [status quo ante order] and other orders issued by the Supreme Court.”

Moreover, Pagcor said all it did was follow the law and court processes, pointing out that their Chief Legal Counsel Roderick R. Consola-

cion told lawyers of the contending groups that “it is for the Supreme Court to resolve the merits of the pending case.”

“In the meantime, the SQAO is effective immediately by express directive of the Supreme Court and thus must be respected by Pagcor and the parties, until lifted or otherwise the status quo is changed by the court.”

The regulator added it declined to further comment on what is happening in Okada Manila,” invoking the sub judice rule.

“Since the issues between the parties are sub judice, we fear that the court will find us in contempt if we do so,” it added.

Universal Entertainment Corp.

(UEC) and Hong Kong-based Tiger

Resorts Asia Ltd., the parent companies of TRLEI, earlier “vehemently denounced Pagcor’s decision to blatantly take the side of the usurper Kazuo Okada in the ongoing intracorporate dispue.”

Over the weekend, the TRLEI said Pagcor’s “bias towards the Kazuo group manifested heavily during the flagrantly violent takeover of Okada Hotel.”

It also claimed: “Pagcor’s President and Chief Operating Officer Alfredo C. Lim was quoted as saying that the takeover was peaceful and orderly—this despite the viral videos showing the complete opposite.”

Such “manifest bias,” added the firm, violates the anti-graft law, or Republic Act 3019.

BTr partially awards bids Diokno to keep focusing for 364-day Treasury bills on growth as DOF chief

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NVESTORS sought higher yields for the 364-day Treasury bills (T-bills), prompting the Bureau of the Treasury to partially award the tenor.

With this, the Treasury only raised P13.924 billion out of its P15 billion offering after it decided to fully award P5-billion each for the 91-day and 182day T-bills and partially award 3.924 billion out of its P5-billion offering of 364-day T-bills.

National Treasurer Rosalia V. De Leon told reporters last Monday that the market weighed in on rate-hike signals from the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve.

De Leon said the “bids continue to be on uptrend with market guided by” hints from BSP Governor Benjamin E. Diokno and Fed for rate hikes of 25 basis points (bps) and 50bps.

The Treasurer said the market also “priced in inflation of 5.4 percent in May.” In a message sent to reporters last May 31, Diokno said their latest models forecast inflation settling between 5 percent and 5.8 percent in May, accelerating from the 4.9 percent inflation print in April.

“The BSP projects May 2022 inflation to settle within the range of 5 percent to 5.8 percent,” the governor said. “The continued increase in domestic petroleum prices, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month.” The BSP expects inflation to hit an average of 4.6 percent for this year.

The Cabinet-level Development Budget Coordination Committee has also raised its assumption on the country’s inflation rate this year to a range of 3.7

percent to 4.7 percent from 2 to 4 percent previously.

The 91-day T-bills fetched an average rate of 1.44 percent, lower by 0.6 basis point from the comparable secondary market benchmark rate of 1.446 percent based on the Bloomberg Valuation (BVAL) Service Reference rate.

Meanwhile, the 182-day T-bills capped at an average rate of 1.834 percent, slightly higher by 2.4 basis points than the BVAL rate of 1.81 percent.

The 364-day T-bills posted an average rate of 2.297 percent, climbing by 7.7 basis points from the BVAL rate of 2.22 percent.

Total bids during the auction hit P42.7 billion, making it more than twice oversubscribed.

For this month, the Treasury is set to borrow P250 billion from the domestic debt market, of which P175 billion is expected to come from auctioning off Treasury Bonds and another P75 billion through it sale of T-bills. Since last week, the Treasury has raised P33.229 billion out of its P65 billion offering.

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

The national government’s debt-toGDP ratio as of the first quarter of the year rose 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. Bernadette D. Nicolas

By Bianca Cuaresma @BcuaresmaBM

B

ANGKO Sentral ng Pilipinas (BSP) Governor and incoming Finance Secretary Benjamin E. Diokno is keeping his “growthfocused” mindset as he is set to transfer from the central bank to the Department of Finance (DOF) in the coming weeks.

In a television interview last Monday, Diokno said his main focus in his upcoming leadership at the DOF is keeping the country’s growth rate to its current level.

“Traditionally, the role of the Minister of Finance is to raise revenues to finance government priorities and to manage that. But I think at this juncture in our history, I think the Department of Finance will focus on sustaining growth, making it broad-based, making it stronger,” Diokno said.

This echoes Diokno sentiment three years ago when he was appointed BSP governor after Nestor A. Espenilla Jr. passed away two years into his term as central bank chief.

In 2019, Diokno—dubbed as “pro-growth governor” by some analysts and economists—said he is aiming for a more inclusive growth narrative for the country as BSP governor.

“Growth will actually solve a lot of our problems,” Diokno said on Monday’s interview. “Number one,

we have to continue our objective of reducing poverty in this country.

We feel that if we grow at around 6 percent on a consistent basis, the poverty in the country will be down to single digit by the end of the Marcos regime.”

“Also by pursuing growth we will solve our revenue problem and that will solve our deficit problem. That will also help achieve our goals to be an upper middle income country in a few years. And of course—this has always been our objective—our road to A,” Diokno added.

The governor also said he intends to focus on streamlining tax administration before deciding on whether the country needs new taxes as part of its fiscal consolidation program.

“The tax system has recently been reformed. There are many changes that were done by the present administration. There is room for better tax collection,” Diokno said. He added that making the system “taxpayer-friendly” through technology and digitization processes and other reforms could help make sure enough revenues are collected.

“Although I said that this [current system] is a better tax system than the previous one, it is not perfect. It could be improved upon,” Diokno said. “But to me, the focus should really be first, let us implement the new tax system. And then find out if there is a need for further reform.”

Environmental scientist shifts to banking to drive sustainability transformation

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or a lot of us, celebrating and engaging in environment-related projects only happen during events such as Earth Day or Earth Month. However, for environmental scientist-turned-sustainability practitioner Jeanne Nicole B. Lizares, driving initiatives that contribute to saving the world is a daily routine.

Lizares is Sustainability Head of Se-

curity Bank Corp.—ensuring the bank incorporates sustainability into its programs and operations, as aligned with its mission to enrich lives, empower businesses, and build communities.

Lizares joined a global bank’s corporate sustainability team just before Covid-19 hit. Like many people during the height of the pandemic, she went through a lot of introspection. Detached from her

island roots, she felt that corporate practice may not be the path for her.

“I thought about quitting my job, moving to the beach, and taking up marine biology—a childhood dream of mine,” she shared. But it seemed there were other plans in store.

“Call it serendipity or divine providence, but the very next day after I made the decision to quit, somebody from Se-

curity Bank called me and said, ‘We’re looking for someone to help us on our sustainability journey.’” Lizares’s Sustainability team reports directly to the Chief Financial Officer and aligns with respective Board Committees. The support given to her team and their initiatives and shows the Bank’s commitment to furthering its sustainability imperative.

“My goal, though, is that someday my

role will no longer be needed because sustainability has been deeply ingrained in everything we do,” she concludes.

With Lizares’s help, Security Bank has implemented an Environmental and Social Risk Management System—a framework that guides the Bank in assessing its lending and investment activities through a lens of environmental and social risks such as climate change,

energy transition, health, and safety.

Lizares emphasizes that sustainability is not a realm reserved for scientists.

Advocates and experts in the business, finance, and public policy sectors are also needed. She is keen to tell stories and share her own, with the hope that young people are empowered knowing there is something they can do to contribute and become sustainability advocates.

B4

Art

BusinessMirror

Tuesday, June 7, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Nikko Pelaez, Binong Javier, Faye Pamintuan star in new solos

❶

‘G,’ BINONG JAVIER THE new solo exhibition of pointillist painter Binong Javier, titled G, revolves around gold. The focus is, however, not on the opulence it represents, but rather on the inspiring moral story of its process.

Javier believes we start to discover and recognize our strength when we go through the most difficult moments in our lives—“like gold being tested on fire.”

Born and raised in Caloocan, Javier has had his fair share of ups and downs. He worked overseas as a graphic artist before returning home and pursuing a career in visual arts. Javier explored which artistic style suited him best, ultimately landing on pointillism, a painting technique that started in France in the 19th century.

In this show, Javier showcases his latest series that deal with golden elements. In Destined for Greatness, the artist depicts his metaphor of gold being introduced to intense heat, with the colors of yellow and red wrestling in dramatic gradients, ultimately forging a precious outcome.

Javier reminds us that whatever comes our way, there is always something to be learned, something that we can use to make us stronger.

❷

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A BUOYANT Hope, Nikko Pelaez

❷ MAGMA Carries Its Weight Within, Faye Pamintuan

I

T’S a trio of one-artist exhibitions this month at Art Elaan, featuring visual artists Nikko Pelaez, Binong Javier and Faye Pamintuan in their respective new shows.

The exhibitions open today, June 7, and run until June 27.

‘EVERYTHING IS AN ICEBERG,’ NIKKO PELAEZ THE concept of layers, in a way, serve as a constant theme in the young career of multi-talented artist Nikko Pelaez. There are levels to his signature abstract portraits—characterized by instinctual use of colors to suggest lighting and texture—as well as his artistic talent as a whole.

Pelaez paints, but he also creates films, and has won awards for both. He studied Fine Arts Major in

Advertising at the University of the East, where he topped several art contests. As a filmmaker, Pelaez won Best Film and Audience Choice Award at Benilde Annual Guerilla short film competition for his entry, titled Balik Loob. He has two other films, titled Hindi Naman Kailangan and Panagsubli, which were selected by the Gawad CCP para sa Alternatibong Pelikula at Video.

Only in his mid-20s, it is fair to say that the artist from Malabon is just scratching the surface. His artworks, after all, continue to evolve.

Presented in his latest solo exhibition, titled Everything is an Iceberg, is the continued merging of his two distinct styles: his geometric abstractions and intricate sketches. The former deals with dramatic portraits that hail from mosaic beginnings, while the latter involves rich and detailed works, such as Greek gods’ flowing hair and outlines of clouds.

The convergence of these styles is seen in the show’s featured pieces, among which is A Bouyant Hope. Here is a woman, depicted in Pelaez’s abstract portrait, who appears to be asleep, her head tilted and eyes closed. She’s frozen in ice, but her right hand clutches onto a ball of flame, defiant and burning bright.

It’s a painting packed with meaning, and an artwork that shows how far an artist has come. Once more, Pelaez presents layers.

‘TO BE STILL,’ FAYE PAMINTUAN EVERYTHING seems to spin with vicious velocity in times of intense emotions. Visual artist Faye Pamintuan was dealing with heartbreak when she created the artworks for her latest solo exhibition, titled To Be Still.

A magna cum laude graduate from the University of the Philippines Diliman with a Bachelor of Fine Arts in Painting, her works deal with colors in constant movement, melting and molding. Thus, in her pursuit of a pause, she relied on her paintings to “move so [she] could choose to be still.”

“The works started from a simple drawing with an orange horizon, a cave, and hurried marks.

This sketch would then become the backbones and rummages of a place of refuge,” Pamintuan writes in her artist’s statement. “In a time of tumultuous emotions, these works gave me the space and time to be still with grief, to be still with anger, to be still with a fleeting joy, to be still in numbness.”

Pamintuan imagined her emotions as forces and energies found in nature. Anger, for example, oozes as an orange magma, forcing itself through the land, as seen in Magma Carries Its Weight Within. Elsewhere is more positive energy, one of renewal, as portrayed in Yellow Bell Suspended Over Water.

More information is available at www.facebook. com/ArtElaanGallery, 027728-6577/7915-9599, via info@ artelaan.com or inquiry.artelaan@gmail.com. ■

Patricia Perez Eustaquio at Silverlens ENDLESS Summer (Tropic of Cancer), 2022, woven tapestry, silk, cotton, various materials as stuffing, foam, wood, bamboo, wire, 52.50x69x44 in

A NEW show by Patricia Perez Eustaquio at Silverlens Galleries is a melange of soft fabric sculptures and drawings on paper where the artist continues to dissect the binary oppositions found in the process of translation from one form to another.

For this series, the artist takes portions from her digital loom tapestries and renders them in graphite as archipelagic fragments seemingly adrift and jagged on taupe, salmon and gray paper.

The use of colored paper and the compressed quality in the drawings are marked changes from her previous work where pig’s flesh, wilted flowers, or studio scraps were traced in sprawling and languid detail as if landscapes on the loose. The neutral color as background also blurs the smushed and in some parts blank strokes in the drawings, as if subtracting the weight from the original inspiration of the

tapestries translated from the works of canonical Filipino painters—heavy with the burden of cultural inheritance and tethered by the gravity of presentday context—into something as perishable, light and inconsequential as paper.

The same nimbleness can be seen in the soft sculptures of palm plants made of wire, stuffing, tapestry, textile, and microfiber bits like gills on a fish.

They surprisingly look complicated with deep intention, yet are ornamental and cuddly at the same time—oscillating tendencies that lend well to facing the harsh realities of life indirectly without refusing to live with it.

Patricia Perez Eustaquio has worked in a variety of mediums and disciplines from craft to paintings. Her works are on view at the Silverlens Galleries in Makati City until June 18.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Iggy Azalea, 32; Michael Cera, 34; Bill Hader, 44; Liam Neeson, 70.

HAPPY BIRTHDAY: Pick up the pieces and head for the finish line. Put an end to whatever isn’t working for you and start anew. Focus on what you want to achieve, and refuse to let anyone come between you and your destination. Pick your associates based on what they offer and promise to contribute to your pursuits. Pamper yourself and follow your heart. Your numbers are 4, 11, 20, 26, 33, 38, 42.

ARIES (March 21-April 19): Be kind to yourself. Seek the company of someone who understands you. Mull over what you are doing with your life and how you can position yourself to head in a direction that stimulates your mind and encourages you to make better decisions about your health. ★★★

TAURUS (April 20-May 20): Change begins with you. Give yourself a once-over and adjust how you look and how you live. Listen to your intuition, and make decisions that please you.

Take responsibility for your happiness, and focus on what brings you joy. Make romance a priority. ★★★★★

GEMINI (May 21-June 20): Revealing too much too fast will leave you in a vulnerable position.

Have a strategy in place that is easy for you to follow all by yourself. Being self-sufficient will give you a push to take care of unfinished business. Know when to relax. ★★

CANCER (June 21-July 22): Adapt to change, then get on with your life. Look for the positive.

Pursue the path that will bring the highest physical, mental and emotional returns. Look for the silver lining, and embrace life wholeheartedly. ★★★★

LEO (July 23-Aug. 22): Observe what’s going on around you. The competition will be fierce, so taking what you have to offer to the next level will be necessary. Pick someone’s brain, and you’ll discover how to surpass anyone who tries to outmaneuver you. ★★★

VIRGO (Aug. 23-Sept. 22): You’ll develop an efficient way to use your skills and knowledge to your advantage. Teach others the shortcuts you incorporate into your routine to get things done on time. Teamwork will pay off. Self-improvement and romance are favored. ★★★

LIBRA (Sept. 23-Oct. 22): Keep your emotions under control, and you’ll avoid a scene. Stay focused on what’s important to you, and gather information and techniques to make your job easier. An opportunity will come your way if you demonstrate your attributes. ★★★

SCORPIO (Oct. 23-Nov. 21): Take care of responsibilities, then move along.

Changing how someone responds to you will encourage you to share your thoughts, feelings and long-term plans. Shared interests will bring you closer together. Romance is encouraged and will enhance your relationship. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Honesty is the best policy. An emotional situation will escalate if you hide your true feelings. Spend more time fixing and updating your surroundings to suit your needs at home. A relationship requires compromise to maintain equality and longevity. ★★

CAPRICORN (Dec. 22-Jan. 19): Address issues head-on, and pursue what makes you happy.

Refuse to let what others do interfere with your plans. Say no to anyone pushing grand plans or selfindulgence. Take good care of your health, reputation, home and family. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): You’ll face competition. Don’t let the changes someone makes get in your way. Work around any obstacle you face by trusting in your ability to accomplish what others expect of you and surpassing your expectations. ★★★

PISCES (Feb. 19-March 20): Tend to creative endeavors. Refuse to let a friend, relative or peer diminish what you are trying to achieve.

Approach those offering positive suggestions, and you’ll devise a plan that helps you surpass your expectations.

Romance is favored. ★★★ BIRTHDAY BABY: You are lively, entertaining and perceptive.

You are imaginative and persuasive.

‘start small’ BY GARY LARSON AND AMY ENSZ The Universal Crossword/Edited by David Steinberg

ACROSS 1 Verge 5 Already in a relationship 10 Instagram and Snapchat, e.g.

14 Sweet sandwich?

15 Word after “mental” or “mirror” 16 Apple variety 17 Singles 18 Boatload, literally 19 Very funny person 20 Doesn’t stop smiling smugly?

23 “Little piggies” 24 Sensible 25 Not as important 28 Threw away 32 Food that’s 37-Across backward 33 Excelled 37 What aptly bookends “Memorial Day” 38 Online business 41 “Bravo,” in Barcelona 42 Opposite of oblivious 44 Quick-witted casino employee?

47 What to do after giving someone a

hand?

48 They’re read at slams 50 “Oh, go away” 52 Cram for an exam 54 Act human, they say 55 Came back from behind 57 Sports ___ (gym garment) 58 Saltimbocca meat 60 Angsty people, traditionally 61 Biblical gift givers 62 New Age singer from Ireland 63 Put into law 64 Tech support caller 65 ___ area (road trip stop) 66 They should be tough to crack 67 Cleaning challenge DOWN 1 Whisper sweet nothings 2 Coffee dispensers 3 Appear 4 Puts forward 5 Scrolling graphics on CNBC 6 Pile up 7 Go-___ (kid’s vehicle)

8 9 10 11 12 13 21 22 25 26 27 29 30 31 34 35 36 39 40 42 43 45 46

Popular waffles Fresh delivery?

Matches grammatically Annoyance Walk heavily Prepared for a meeting?

Sturgeon eggs “Double Fantasy” singer Yoko Soapmaking ingredient Scarf down Go overboard in a cafeteria food fight?

Fawning constituency?

Pointy part of an elf Turn red, perhaps In great demand Antiquated Originally named Muslim leader Magic Johnson, once Not silently A gardener pulls it up Incentives at car dealerships HS student’s challenges

47 49 50 51 52 53 56 59 61

Tranquil Voltage spikes Slot machine arm, essentially Justice Kagan Because Couples Loose-___ paper Long.’s counterpart on a GPS Ornamental flower, for short

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, June 7, 2022

B5

Depp-Heard trial: Advocates fear chilling effect on accusers

By Maryclaire Dale & Jocelyn Noveck The Associated Press

T FRENCH President Emmanuel Macron awards American tennis legend Billie Jean King with the Legion d'Honneur at the Elysee Palace on June 3, 2022 in Paris. AP

BILLIE JEAN KING RECEIVES FRANCE’S LEGION OF HONOR AWARD PARIS—Tennis legend and LGBTQ rights activist Billie Jean King received France’s highest civilian honor, the Legion of Honor, on Friday.

King, who is in France as the French Open concludes, received the award in recognition of her contributions to women’s sports, gender equality and the rights of LGBTQ people in athletics. She took part in a short ceremony at the presidential Elysee Palace at the invitation of French President Emmanuel Macron.

The 78-year-old was back on the main clay court at the Paris tennis complex that hosts the French Open for a ceremony celebrating the 50th anniversary of winning the 1972 tournament title.

The year before, King risked her career to help start the Virginia Slims Tour for professional women players. It led to the creation of the Women’s Tennis Association in 1973 as the organizing body for women’s professional tennis.

HE call came Thursday, only a day after the Johnny Depp-Amber Heard verdict, to a free legal clinic for domestic violence victims in Athens, Georgia. The woman wanted to pursue her abuse claims, but she was worried.

“The fear was that she’d be seen to be a liar like Amber Heard,” clinic director Christine Scartz said of the woman—the first caller to directly mention the verdict. “People do not want to give the most intimate details of their personal life and then be called a liar.”

Scartz is among advocates and legal experts who fear that the case—unique as it was for its celebrity lineup, sordid revelations, mutual claims of abuse, and relentless misogyny on social media—will have a real-world chilling effect on women coming forward with abuse claims.

The jury, with five men and two women, mostly sided with Depp in the dueling defamation case, ordering Heard to pay him $10 million to the $2 million he must give her.

Although jurors were considering civil libel claims and not criminal abuse charges, the verdict largely vindicated Depp’s allegations that Heard lied about abusing her. During testimony, Heard detailed dozens of instances of assault, and Depp emphatically denied ever abusing her. In 2020, a UK judge in a civil libel case found that Depp assaulted Heard on a dozen occasions.

For Scartz, who directs the clinic at the University of Georgia’s law school, the concern is about the assumptions some will make that women are lying.

She fears abusers may be newly emboldened to paint their accusers as liars in retaliation for them coming forward.

Not all experts fear a chilling effect or, as some have framed it, a threat to the #MeToo movement.

Debra Katz, a Washington employment attorney and perhaps the nation’s most prominent #MeToo lawyer, said the Depp case was one of a kind, “a thing of itself—who these people were, and the dysfunction in their marriage and the craziness that took place between them. And this was really driven by celebrity.”

Still, Katz, who has represented accusers of Brett Kavanaugh, Andrew Cuomo and others, considers

the case a setback, because it “unfortunately taps into misogyny that already exists, and it’s terrible that Amber Heard was put through the kind of character assassination, the smear job that she was put through.”

During the trial, users of TikTok and Twitter vilified Heard in memes and videos, some using court footage. The social-media content, viewed billions of times, blasted her as a liar, an abuser, and a “fake” crier. #AmberIsALiar and other hashtags became popular search terms.

TikTok has tallied nearly 20 billion views for the hashtag #JusticeForJohnnyDepp, compared with some 78 million for #JusticeForAmberHeard. That amounts to more than 250 posts supporting Depp for each one supporting Heard.

What’s clear, Katz said, is “there is still misogyny, deep misogyny in the world, and it still pervades our justice system.” However, she said, one shouldn’t assume women won’t come forward in other cases.

And she said a more important gauge of the #MeToo movement’s durability lies in a court decision that came Thursday, a day after the Depp verdict: Harvey Weinstein’s loss of his appeal of his rape conviction in New York and 23-year prison sentence.

In that case, she said, jurors “saw through every single sexist argument that Harvey Weinstein’s lawyers made about these women. That’s a much more consequential jury verdict and court victory than anything this Depp-Heard thing suggests.”

The organization metoo.International—launched

by Tarana Burke, who coined the phrase decades ago through her work with survivors of sexual violence— has rejected efforts to connect the Depp-Heard trial and the movement.

“The way in which #MeToo has been co-opted and manipulated during the Johnny Depp vs. Amber Heard trial is a toxic catastrophe and one of the biggest defamations of the movement we have ever seen,” the group said in a statement issued before the verdict.

“What we experienced in the Depp-Heard trial was a public retelling of intimate partner violence between two privileged white celebrities,” it said, while also decrying “the public humiliation and harassment” heaped onto Heard.

Law professor Mary Anne Franks tried to avoid coverage of the trial, only to find herself barraged

by “these really terrible, out-of-context, completely distorted types of takes” whenever she peeked online.

She can’t help but wonder whether jurors—who weren’t sequestered, and could use their phones when not in court—caught them, too.

“It’s crazy to think they are not going to be influenced by what’s happening on social media,” said Franks, a University of Miami law professor who studies the intersection of civil rights and technology.

Social media, Franks added, amplified the power imbalance between the wealthier, beloved actor and his less famous ex-wife. And the trial came at a critical cultural moment, she noted, as the progress women have made in the last 50 years is increasingly under threat, and the #MeToo movement faces backlash.

“When men are being held to account, that resentment, that rage, it might simmer for awhile, but it’s going to bubble over after at some point, and I think a lot of people were channeling these emotions through this case,” Franks said.

During the six-week trial, the national organization RAINN, which combats sexual violence, noted a striking increase in calls to its hotline. It says it provided help to 28 percent more people in May 2022 than in May 2021, a spike it attributes to news coverage. On verdict day, it served 35 percent more people than on the average on Wednesday, spokesman Erinn Robinson said.

The trial pitting Heard against Depp, Washington lawyer Joseph Cammarata said, reflected only their relationship and doesn’t mean that in all cases, the accused now has an advantage.

“It is a story of these two people,” he said of the trial. “A public story about their private life. “ “And a woman who feels aggrieved, should have an opportunity...to have her day in court. Her case will be judged on the facts of that case, not on Johnny Depp’s case, not on any other case, but on her case.”

But Scartz, at the Georgia clinic, worries that the accused may decide it’s worth it to “to take a chance, roll the dice and call her a liar. See what happens, you know? You don’t lose anything at this point.

“Those of us who work on the front lines of all of these sorts of cases...we will do our best to convince our clients to go ahead and seek the relief that they need. But we’ll see. We may never be able to definitively say this had an effect, because you don’t know who isn’t calling you.” n

Sid Lucero continues to soar SID LUCERO (left) and Beauty Gonzalez

‘Magpakailanman’ now streaming on YouTube THE favorite drama anthology of viewers everywhere, Magpakailanman is poised to dominate online platforms as it begins live streaming its episodes on GMA Network’s YouTube account, plus the show’s Facebook page and TikTok account.

Avid viewers of the program can now watch the fresh episodes of Magpakailanman wherever they are as GMA’s award-winning weekly show further strengthens its digital presence to inspire more audiences and change lives.

On Saturday, the first-ever brand-new episode to be livestreamed was “Nasaan Ka, Inay?” topbilled by no less than multitalented actress and comedian Pokwang as Lilia.

Joining her in this heartwarming episode were David Remo and Ruiz Gomez as young and adult Luisito, respectively; Euwenn Aleta and Nikki Co as young and adult Lorenzo; Leandro Baldemor as Antonio; Archie Adamos as Tatay Pedro; Gilleth Sandico as Pilar; and Rubi Rubi as Cristy.

The episode told the story of Lilia (Pokwang) who went through a bitter separation from an abusive and drunkard husband. She then took her five children to her father’s place which infuriates her envious sister.

This special offering of Magpakailanman is directed

by Zig Dulay, written by John Roque, and researched

by Karen Lustica. Fresh episodes of Magpakailanman come in at 8:15 pm, Saturdays.

More information is available at www.gmanetwork. com.

ALMOST half the year has passed, and acclaimed actor Sid Lucero feels things are getting better and better as he rolls into every new month.

Lucero has been keeping busy as far as work is concerned, and he sees more projects are coming in.

So far, his two recent movies continue to be amongst the most watched films on the Vivamax streaming platform: Mac Alejandre’s Silip sa Apoy and Lawrence Fajardo’s Reroute.

Virgin Forest, his new movie, is scheduled for release very soon. Not in any way connected with an old, overrated movie of the same title, this new film is directed by Brillante Mendoza and follows the journey of a photographer fascinated by the many hidden secrets of the forest. Lucero plays the lead male role of a photographer on a mission who discovers both the beautiful and the ugly of the creatures residing in the forest, and experiences both the good and the evil lurking behind these creatures.

The actor, who has given pride to the country numerous times (winning best actor in festivals in Greece and the US, and one of only a handful of Filipinos to be recognized by the International Emmy Awards), is glad to be reunited with Mendoza, who directed him in the 2012 movie Captive, a competition film at the 2012 Berlin International Film Festival.

“When I found out who was directing the movie, I knew there would be no script. I basically just emptied myself and allowed things and emotions to come in as I took on my complex role. It’s been more than 10 years since I worked with him, and it feels good to reconnect for this project,“ he shared.

Lucero is also happy that he is working again with one of his current favorite actresses, newcomer Angeli Khang. “ I love supporting Angeli, I love working with her. She is so beautifully fragile but she is also so brave, brilliant and big-hearted. I look forward to do a movie with her that’s just her and me as the central characters in the narrative. That would be one amazing experience!”

On television, viewers will once again take delight seeing Lucero showcase his acting skills on the small screen. He is one of two leading men in a new series, titled The Fake Life, and it’s on the unbeatable afternoon block of GMA starting this week.

“My character comes back to mess up the life of the woman he loved so dearly in the past, someone he left behind while he was going for his personal dreams.

His goal is to get her back, even if she is already married. It’s a good role that my home network has entrusted to me, and I am thankful for the continuous

opportunities they send my way,“ he told us.

Lucero is paired with actress Beauty Gonzalez for this new show and they share stellar billing with actor-singer Ariel Rivera. All three lead stars have their own children in real life, and themes like family and relationships are subjects they are all familiar with.

“I am beyond words of gratitude to the many wonderful work opportunities that I am experiencing at this time, and I look forward to the many more amazing characters that I will be given the chance to give life to in the coming months. I have had my glory days and I’ve also hit rock bottom. I am just so thankful that I am healthy and fit, and my passion as an actor is on the upswing. I have learned that it is important to seize every good moment in life, and that’s what I am doing now,” he said.

Many, like us, are happy to see Sid Lucero soar and continue to fly high.

B6 Tuesday, June 7, 2022

Mansmith Innovation Awards names Jean Henri Lhuillier as Master Innovator

J

EAN Henri Lhuillier, the President & CEO of micro financial services giant Cebuana Lhuillier, was recently named as a “Master Innovator for 2022” by the Mansmith Innovation Awards, an award-giving body organized by Mansmith & Fielders, the country’s leading training and consultancy company.

Lhuillier was cited for revolutionizing the face of micro insurance in the Philippines—thanks to his groundbreaking work in making micro insurance more relevant in the lives of Filipinos. Based on the latest statistics, only 53.7M out of 111M Filipinos are covered by insurance.

To date, 31% of the insured Filipinos was contributed by Cebuana Lhuillier Micro Insurance, the biggest attributor to date as cited by the Insurance Commission.

Cebuana Lhuillier captured the interest of the market especially from low-income communities by offering affordable micro insurance products that can be easily purchased in any of Cebuana Lhuillier’s over 3,000 branches nationwide, while also putting systems in place for easier claims payout through the same branches.

“The true mark of being a financiallyincluded Filipino is having access to the most basic financial services that are essential in our everyday lives. This includes protection against illnesses, emergencies, and uncertain situations brought by disasters or natural calamities. For 40 million Filipinos, this is made possible by Cebuana Lhuillier micro insurance,” shares Lhuillier.

For the past two years, Cebuana Lhuillier focused on its transition as a TechBrick company in order to ensure

accessibility and convenience for its clients. “We do this by expanding our network reach through physical branches while also taking advantage of proprietary technology through the development of new apps and digital channels that will bring our products and services closer to many Filipinos,” he adds.

Lhuillier further expanded by pushing for more tech innovation that further elevated his micro insurance offerings.

This included the unveiling of ProtectNow in 2019, a web-based platform which aggregates the best possible insurance options for their home, auto, travel, and family insurance needs coming from some of the credible insurance companies in the Philippines; the introduction of Claims PayOut Anywhere, which allowed clients to process their claims in any Cebuana Lhuillier branch nationwide; and finally, working together with online market places like Lazada and Shopee which made buying micro insurance as easy as getting as buying something from an online store.

Moreover, Lhuillier has been the forefront of implementing the “TECHBRICK” strategy, taking advantage of their network of more than 3,000 branches nationwide with 25,000 domestic partner doors, and 3 million partner locations globally and marrying it with technological innovations as a means to further bring the micro financial services industry to the next level.

Utilizing the concept of “TechBrick”, a term Lhuillier coined himself, his vision allowed Cebuana Lhuillier and its products and services such as pawning, money

transfer, micro insurance, and jewelry selling. These come along with micro savings, a product of it banking arm Cebuana Lhuillier Bank, to maintain its relevance by ensuring availability and access regardless of channels: whether in brick-and-mortar stores, through the development of super apps, and web platforms.

TEACHERS, students, and community members take a moment to appreciate and thank Security Bank and BAIPHIL for their generous donation to the community in Cabongaoan Elementary School.

A

S part of its programs to enrich the lives of Filipinos, Security Bank Corporation collaborated with the Bankers Institute of the Philippines (BAIPHIL) to help school children in Cabongaoan Elementary School, Iliq-Iliq, Burgos, Pangasinan through the Handog Pag-Asa sa mga Kabataan program.

Through this initiative, Security Bank provided computer sets and a printer to the elementary school, complementing the other school and sports equipment donated by BAIPHIL to the community.

“We’re humbled to have contributed in some way to BAIPHIL’s initiative to help students in Burgos, Pangasinan. Our #BetterBanking commitment to service delivery is anchored on our mission to enrich lives, empower businesses, and build communities. Security Bank takes

JEAN Henri Lhuillier

Biñan City government gets highest COA rating for 2021

T

HE Biñan City government has received an “unmodified opinion” from the Commission on Audit (COA) for their 2021 financial statements.

An “unmodified opinion” is considered the highest audit opinion that COA can render to a government agency or corporation. It is given when auditors conclude that the financial statements as a whole are free from material misstatements.

According to the Independent Auditor’s Report signed by Rodolfo M. Asuncion, Officer in Charge-Supervising Auditor, the financial statements of the City of Biñan were “in accordance with International Public Sector Accounting Standards (IPSASs).”

“We conducted our audit in accordance with International Standards of Supreme Audit Institutions (ISSAIs).

Our responsibilities under those standards are further described in the Auditor’s

Responsibilities for the Audit of the Financial Statements section of our report,” Asuncion said.

“We are independent of the agency in accordance with the ethical requirements that are relevant to our audit of the financial statements, and we have fulfilled our other ethical responsibilities in accordance with

these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unmodified opinion,” he said.

In a statement he sent out to media, Biñan City Mayor Walfredo “Arman” R. Dimaguila, Jr. said the rating is proof of the city government’s good and honest management of public funds.

“This is my last term as mayor and I assure you that we will work even harder.

I am confident that all the department heads of the City government of Biñan will do the same,” he said.

He also thanked the city government employees for all their hard work.

“All the awards that we have received since we came into office in 2016 until today are the result of the joint efforts of all the local government departments. Thank you to all of you and to the city government employees,” Dimaguila added.

SSS allows online PLP application for first time borrowers

S

OCIAL Security System (SSS) President and CEO Michael G. Regino recently announced that retirement pensioners who are first time borrowers under the SSS Pension Loan Program (PLP) may file their applications online starting May 30, 2022 in the My.SSS Portal.

Previously, first time pension loan borrowers needed to visit the nearest SSS branch to file their initial applications since online filing is available only for renewal of loan applications.

“We recognize the challenges faced by our retirement pensioners in going

Security Bank, BAIPHIL partner for ‘Handog Pag-Asa sa mga Kabataan’ in Pangasinan

to SSS branch to avail of the Pension Loan Program. With the pandemic still around, pensioners prefer to have their transactions done online in their respective homes. This online facility makes it easier for them to avail of said program as it also guarantees a faster approval process,” Regino explains.

Regino also urges retirement pensioners to take advantage of this lowinterest loan offering from the SSS. He ensures that SSS will not require them to surrender their ATM cards as pawn collateral, unlike some private loan institutions.

The PLP was launched to assist retirement pensioners in their shortterm financial needs by offering a loan at a low-interest rate of 10% per annum.

Qualified retirement pensioners can apply for a loan equivalent to 3, 6, 9, or 12 times of their basic monthly pension plus the P1,000.00 additional benefit, but not exceeding the maximum amount of P200,000.00.

Further information on the pension loan program and its terms and conditions can be accessed through this link https://bit.ly/3sKV1HA. www. sss.gov.ph

this mission to heart and continuously strives to be a meaningful partner to the communities where we operate,” says Tanya Deakin, Vice-President and Head of Corporate Communications and Brand Division at Security Bank.

Since its founding in 1951, Security Bank has been committed to enrich the lives of Filipinos through the continued building of communities in various areas across the Philippines. In 2020, in the midst of a global pandemic, the Bank ramped up its CSR initiatives through the launch of the #GetBetter campaign to help Filipinos recover from the effects of COVID-19.

To know more about Security Bank’s Corporate Social Responsibility (CSR) programs, you may visit www.securitybank.com/ sustainability or Security Bank’s official Facebook page at www.facebook.com/SecurityBank.

PH scraps COVID-19 pre-departure test for fully vaccinated boostered tourists

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HE Philippine government will no longer require a pre-departure COVID-19 test for incoming fully vaccinated passengers as part of its measures to revive the pandemic-hit economy starting May 30, 2022.

Following the recommendations made by the Department of Tourism (DOT) as a means to further ease the travel requirements and encourage more tourists to visit the country, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) approved Resolution 168 exempting all fully vaccinated and boostered foreign nationals from the RT-PCR test requirement. Based on the resolution, the visitor must be at least 18 years old and must have received the primary series of Covid-19 vaccines and at least one booster shot.

Also exempted from the pre-departure RT-PCR requirement are foreign nationals aged 12 to 17 who have received their primary Covid-19 vaccine/s; and those aged below 12 and traveling with fully vaccinated or boostered parents or guardians.

The same exemption guidelines apply to

Filipinos travellng to the Philippines.

The DOT sees this development as a win for the local tourism industry as welcoming more tourists in the country will yield more revenues for our MSMEs and restore more jobs and livelihoods in the sector.

Meanwhile, travel insurance is no longer required, but still highly encouraged, for arriving passengers. All types of vaccinations certificates, regardless of country of origin, will also be accepted.

Based on recent data, a total 517,516 foreign tourist arrivals have been recorded in the Philippines from 10 February to 25 May 2022.

A bulk of foreign tourists, totaling to 104,589 came from the United States, followed by South Korea with 28,474, and Canada with 24,337.

Australian nationals, British/English, and Japanese tourists came next on the list with 23,286; 20,846; and 13,373 respectively.

Other foreign visitors in the Philippines during the early months of the year include Vietnamese, Singaporeans, Malaysians, Italians, Irish and French.

End summer on a sweet note with a delicious Subway treat

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Grab one or two at the nearest Subway® store near you and join the lucky ones to enjoy this fantastic deal. It's definitely the #BetterChoice as we end this Summer season and welcome the rainy days.

Available for dine-in and takeout transactions and or Grab delivery orders. This limited-time-offer cookie is available up to 5 July 2022 or until supply lasts.

World Features BusinessMirror

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

Inflation divide: The wealthy splurge, the poorest pull back

By Anne D’innocenzio & Christopher Rugaber

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AP Business Writers

EW YORK—Americans at the low end of the income rung are once again struggling to make ends meet.

A confluence of factors—the expiration of federal stimulus checks and surging inflation on staples like gas and food—are driving an even bigger wedge between the haves and have-nots.

While wealthier shoppers continue to splurge, low-income shoppers have pulled back faster than expected in the past two months. They’re focusing on necessities while turning to cheaper items or less expensive stores. And they’re buying only a little at a time.

It’s a reversal from a year or so ago when low-income shoppers, flush with money from the government and buoyed by wage increases, were able to spend more freely.

Kisha Galvan, a 44-year-old mother of eight children from ages 9 to 27, was able to stock up on groceries for the week and buy extras like clothing and shoes at Walmart for her children last year.

But without the pandemic-related government support and inflation hovering at a near 40-year high, she is buying more canned food and depending on the local food pantry several times a week instead of once a week.

“I shop meal to meal,” said the Rockford, Illinois, resident who has lived on disability for the past 15 years. “Before, we didn’t have to worry about what we were going to get. We just go get it.”

The deep divide in spending was reflected in the latest round of quarterly earnings for retailers. At the high end of the spectrum, Nordstrom and Ralph Lauren reported stronger-than-expected sales as their well-heeled shoppers returned to pre-pandemic routines. Lululemon also reported strong quarterly sales of its pricey athletic wear.

But on the other end, Walmart’s customers are switching to cheaper lunch meats and half gallons of milk from full gallons. Kohl’s, a midpriced department store, said its customers were spending less on each visit. And Gap slashed its annual financial outlook, specifically citing the strain from inflation at its low-price Old Navy chain.

Both Dollar Tree and Dollar General, which historically benefit from shoppers trading down during difficult economic times, raised their sales outlooks last month. Meanwhile, discounter Big Lots suffered steep sales declines in the latest quarter, noting cutbacks in items like furniture.

“We are now in a new chapter where high inflation is greatly limiting the ability of consumers to make discretionary purchases, especially of high ticket items,” Big Lots CEO and President Bruce K. Thorn told analysts late last month. “We know that many Americans now are once again living paycheck-to-paycheck.”

The pullback among low-income shoppers has not affected overall spending, which is still up. In April, the government said retail sales outpaced inflation for a fourth straight month, a reassuring sign that consumers—the primary drivers of America’s economy—are still providing vital support and helping ease concerns that a recession might be near.

But analysts believe even affluent shoppers could retrench if the stock market continues to weaken. Marshal Cohen, chief industry advisor at market research firm The NPD Group Inc., said the stock market affects higher income shoppers “psychologically” and more losses on paper could make them cut back.

The spending mood has shifted from last October and November, when the Fed conducted a survey and found that almost eight in 10 adults were either “doing okay or living comfortably” when it came to their finances in 2021, the highest proportion to say so since the survey began in 2013. For those earning less than $25,000, the proportion that said they were doing at least okay jumped to 53 percent from 40 percent.

But inflation has taken a bigger bite out of personal budgets and wiped away some of the wage gains, especially for those who earn less. The national average cost of a gallon of gas, for example, has jumped to $4.76 from $4.20 a month ago and a painful 56 percent from a year earlier, according to AAA. At the Northern Illinois Food Bank, which feeds people in 13 counties including Galvan and her family, the average monthly number of visits grew to more than 400,000 in the February through April period, from 311,000 in the July through September period, according to president and CEO Julie Yurko.

Across the economy, median wages jumped 6 percent in April from a year earlier, according to the Federal Reserve Bank of Atlanta. But even though that was the largest increase since 1990, it was still below the inflation rate of 8.3 percent.

Meanwhile, the poorest one-fifth of Americans have exhausted the savings they’d built up during the pandemic in part through stimulus checks, child tax credit payments and higher wages, according to calculations by Jeffries, an investment bank.

Americans’ bank accounts

The other four-fifths of US households are still sitting on a large stockpile of additional savings since the pandemic, with much of that held by the top fifth.

Inflation is playing out differently within businesses that cater to shoppers with varying income levels.

Michelle Gass, CEO of Kohl’s, said some shoppers are trading up to premium brands like Tommy Hilfiger and Calvin Klein, while others are going to lower-price store labels. Macy’s boosted its annual outlook based on the spending habits of its wealthier shoppers, but its customers with median household income of $75,000 and below are switching more to its off-price brand.

The current environment is making it difficult for retailers to pass on higher costs. Macy’s, for instance, got pushback after raising prices on some casual clothing items and home accessories.

“We’re definitely seeing some balk at some of the prices,” Macy’s CEO Jeff Gennette recently told analysts on the company’s earnings call. “We’ve made adjustments there.”

For the Northern Illinois Food Bank—like many food banks—food costs are spiking amid dwindling donations.

“Inflation and rising food costs mean the food bank has to make tough choices about our budget,” Yurko said. “What foods can we provide consistently and what foods can we only provide if they are donated to us?”

Rugaber reported from Washington.

Tuesday, June 7, 2022

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The party ends but the UK monarchy looks to the future

By Danica Kirka

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The Associated Press

ONDON—Extinguish the beacons, take down the stage, roll up the bunting. The party’s over.

After four days of parades, street parties and a gala concert celebrating Queen Elizabeth II’s 70 years on the throne, the Platinum Jubilee celebrations ended Sunday with a queen’s wave from Buckingham Palace and the crowds outside singing “God Save the Queen.”

But as the tributes to Elizabeth’s lifetime of service begin to fade, Britain is left with the reality that the second Elizabethan age is in its twilight.

The 96-year-old monarch, limited in recent months by what the palace calls “episodic mobility issues,” made only three brief public appearances during the Jubilee. Her son and heir, 73-year-old Prince Charles, stood in for her at other events.

“Inevitably, we’re going to lose her sometime. And so this will have been a sort of a tail end of a golden reign, won’t it?’’ historian and royal biographer Hugo Vickers told The Associated Press. “That’s why it’s got a little bit of hint of sadness, I find.”

That truth was the subtext of the weekend’s events as newspapers, TV screens and even the walls of the palace were filled with images of Elizabeth changing from a glamorous young queen in crown and diamonds to a global grandmother known for her omnipresent handbag and love of horses and corgis.

Elizabeth is the UK’s longestserving monarch, the only sovereign most people have ever known.

That longevity has bred a deep affection for the queen. The question for the House of Windsor is whether the public will transfer those feelings to Charles when the time comes.

From the opening military review to the closing pageant outside the palace, the royal family sought to build a case for that continuity, underscoring the monarchy’s historic traditions and its role as a unifying institution that helps the country celebrate its successes and provides comfort during times of sorrow.

Charles was front and center throughout as he stood in for his mother.

Wearing a ceremonial scarlet tunic and bearskin hat, he reviewed the troops during the Queen’s Birthday Parade on Thursday. The next day, he was the last guest to enter St. Paul’s Cathedral and took his seat at the front of the church for a service of thanksgiving in honor of the queen.

At Saturday’s star-studded concert in front of Buckingham Palace, he delivered the main tribute to the woman he addressed as, “Your Majesty, mummy.”

The royals know they have work to do. Over the past year, the monarchy has been buffeted by allegations of racism and bullying, a sex scandal involving Prince Andrew and demands that they apologize for Britain’s historic role in the enslavement of millions of Africans.

But if the Windsors wanted proof of the enduring popularity of all things royal, they need look no further than the tens of thousands who crammed the streets and parks around Buckingham Palace to cheer, wave the Union flag and say “Thank you, ma’am” over the past four days.

Demonstrations of public support are crucial to the monarchy’s survival, said royal historian Ed Owens.

“The Jubilee is defined not simply by the presence of the queen, but by many various other actors, and one of the key actors…is the British public,’’ said Owens, author of “The Family Firm: Monarchy, Mass Media and the British Public 19321953.” “All these events are playing to the British public...the jubilee is as much a celebration of the British people in the British nation as it is the queen herself.”

Since assuming the throne after the death of her father on Feb. 6, 1952, Elizabeth has been a symbol of stability as Britain negotiated the end of empire, the dawn of the information age and the mass migration that transformed the country into

Queen Elizabeth II stands on the balcony as people gather during the Platinum Jubilee Pageant outside the Buckingham Palace in London on Sunday, June 5, 2022, on the last of four days of celebrations to mark the Platinum Jubilee. AP/Alberto Pezzali

a multicultural society.

Throughout it all the queen has built a bond with the nation through a seemingly endless series of public appearance as she opened libraries, dedicated hospitals and bestowed honors on deserving citizens.

Actor and writer Stephen Fry captured this lifetime of service, carried out far away from the glittering state occasions and military parades that rivet the media’s attention, as he delivered his own tribute during Saturday evening’s Jubilee concert outside Buckingham Palace.

“How many local sewage works has her majesty opened with a bright smile? How many plaques unveiled?

How many trees planted? How many ribbons cut, ships launched?” Fry asked, drawing a chuckle from the crowd. “How many prime ministers tolerated? For that alone, no admiration is high enough.”

While they would have like to see more of the queen, fans like Anne Middleton, 61, seemed to understand the limitations of her health issues.

Middleton, a human resources executive, traveled to London from her home in Wales for the long holiday weekend. Wearing red, white and blue nail polish and a dress covered in the Union and Welsh flags, she and her friends watched Saturday’s concert from camp chairs in St. James’s Park.

“We wanted to turn out and let her know that we’re there for her, too,’’ Middleton said. “Because she’s always been there for us.’’

The queen’s public appearances

during the Jubilee were brief but symbolic, underscoring three pillars of her reign: a personal bond with the public, strong links to the armed forces and support for the Commonwealth, a group of 54 nations with former colonial ties to Britain.

On T hursday after noon she joined other senior members of the royal family on the balcony of Buckingham Palace to watch a flypast by 70 military aircraft and wave to supporters who filled the street below. Later, she took part in a beacon lighting ceremony at Windsor Palace, the culmination of event that spanned the Commonwealth.

The weekend concluded with another balcony appearance for the cheering crowds, this time accompanied only by Prince Charles and his wife and Prince William and his wife and children.

The message couldn’t have been clearer: Here is the present and the future of the monarchy.

Robert Lacey, a royal historian and adviser to the Netflix series “The Crown,” believes the royal family’s connection to the British public will endure.

“There is a magic about royalty.

If you don’t care to accept it, that’s up to you,” he said.

“But for many Brits, the magic moment [is] when the queen or Prince Charles…zturn up in your neighborhood,” he said. “You are touched with a magic—which is no longer divine, but which represents the community—which says, ‘You matter and you’re part of a bigger picture, a society, a community.’”

US and South Korea fire missiles to sea, matching North’s launches

By Kim Tong-Hyung The Associated Press

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EOUL, South Korea—The US and South Korean militaries launched eight ballistic missiles into the sea Monday in a show of force matching a North Korean missile display a day earlier that extended a provocative streak in weapons demonstrations.

The allies’ live-fire exercise involved eight Army Tactical Missile System missiles—one American and seven South Korean—that were fired into South Korea’s eastern waters across 10 minutes following notifications for air and maritime safety, according to South Korea’s Joint Chiefs of Staff and US Forces Korea.

The tit-for-tat missile launches were aimed at demonstrating the ability to respond swiftly and accurately to North Korean attacks, the South Korean military said.

The South’s militar y on Sunday detected North Korea firing eight shortrange missiles over 35 minutes from at least four different locations, including from western and eastern coastal areas and two inland areas north of and near the

capital, Pyongyang, in what appeared to be a single-day record for the country’s ballistic launches.

It was North Korea’s 18th round of missile tests in 2022 alone—a streak that included the country’s first launches of intercontinental ballistic missiles in nearly five years. South Korean and US officials also say North Korea is preparing to conduct its first nuclear test since September 2017 as leader Kim Jong Un pushes a brinkmanship aimed at cementing the North’s status as a nuclear power and negotiating economic and security concessions from a position of strength.

US and South Korean forces conducted a similar live-fire exercise following North Korea’s previous ballistic launches on May 25, which South Korea’s military said involved an ICBM flown on medium-range trajectory and two short-range weapons.

Those tests came as Biden wrapped up his trip to South Korea and Japan, where he reaffirmed the US commitment to defend both allies.

South Korean President Yoon Suk Yeol during a speech marking the country’s Memorial Day on Monday said his government would pursue “fundamental

and practical security capabilities” to counter North Korea’s growing nuclear weapons and missile threat.

“North Korea’s nuclear weapons and missile programs have grown to a point where they are not only a threat to the Korean Peninsula, but to Northeast Asia and world peace,” Yoon said at the National Cemetery in Seoul, saying his government would “sternly respond to any kind of North Korean provocation.”

Yoon, a conservative who took office in May, has vowed to strengthen the South’s defense in conjunction with its alliance with the United States. His goals include enhancing missile strike and interception capabilities and resuming large-scale military exercises with the United States, which were suspended or downsized in recent years to create space for diplomacy with Pyongyang or because of Covid-19.

Yoon’s dovish predecessor, Moon Jaein, who had staked his five-year term on inter-Korean engagement, refrained from missile counter-drills after North Korea resumed ballistic missile tests in 2019 as its diplomacy with the US fizzled.

North Korean state media have yet to comment on Sunday’s launches. They

came after the US aircraft carrier Ronald Reagan concluded a three-day naval drill with South Korea in the Philippine Sea on Saturday, apparently their first joint drill involving a carrier since November 2017, as the countries move to upgrade their defense exercises in the face of North Korean threats.

North Korea has long condemned the allies’ combined military exercises as invasion rehearsals and often countered with its own missile drills, including short-range launches in 2016 and 2017 that simulated nuclear attacks on South Korean ports and US military facilities in Japan.

Hours after the North Korean launches, Japan and the United States conducted a joint ballistic missile exercise aimed at showing their “rapid response capability” and “strong determination” to counter threats, Japan’s Defense Ministry said.

The United States has vowed to push for additional international sanctions if North Korea conducts a nuclear test, but the prospects for meaningful new punitive measures are dim with the UN Security Council’s permanent members divided.

TRUE KING Sports OF CLAY! BusinessMirror

B8

| Tuesday, June 7, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Howard Fendrich The Associated Press

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ARIS—Rafael Nadal’s painful left foot was numbed by multiple injections to two nerves throughout the French Open, the only way he has found to deal with a chronic condition he acknowledges puts his tennis future in doubt.

At any other tournament, Nadal said, he would not have persisted through what he called such “extreme conditions.”

Ah, but five simple words uttered after he strung together the last 11 games of a 6-3, 6-3, 6-0 victory over an overwhelmed Casper Ruud in Sunday’s intriguing-for-a-handfulof-minutes final at Court Philippe Chatrier explained Nadal’s mindset: “Roland Garros is Roland Garros.”

And so even if Nadal, a French Open champion for the 14th time now at age 36, is in obvious ways different from Nadal, a French Open champion for the first time all the way back in 2005 at age 19, that desire to give his all, no matter what, to “find solutions”—one of his oftused phrases—remains the same.

He is the oldest champion in the history of a tournament that began in 1925, and his hair is thinning on top. The chartreuse T-shirt he wore Sunday had sleeves, unlike his bicepsbaring look of nearly two decades ago.

The white capri pants that ran below his knees back in the day were long since traded in for more standard shorts—Sunday’s were turquoise.

Here’s what hasn’t changed along the way to his 22 Grand Slam titles in all, another record, in addition to his between-point mannerisms and meticulous attention paid to the must-be-just-so placement of water bottles and towels: That lefty uppercut of a topspin-slathered, highbouncing forehand still finds the mark much more frequently than it misses, confounding foes. That ability to read serves and return them with a purpose still stings. That neverconcede-a-thing attitude propelling Nadal from side to side, forward and backward, speeding to, and

redirecting, balls off an opponent’s racket seemingly destined to be unreachable.

Nadal is nothing if not indefatigable, just as he was in consecutive four-hour-plus victories earlier in the tournament—including against Novak Djokovic, the defending champion and No. 1 seed— and again on this afternoon, even while competing on a foot devoid of any feeling.

“When you are playing defensive against Rafa on clay,” said Ruud, a 23-year-old Norwegian who was participating in his first major final, “he will eat you alive.”

Nadal said afterward he will try other methods of helping his foot— including, even, a way “to burn, a little bit, the nerve”—over the next week to see whether that might allow him to enter Wimbledon, where he has won two of his men’s-record 22 Grand Slam titles. Play begins at the All England Club on June 27.

If these new treatments do not work, Nadal said, then he will need to consider having what he termed major surgery—and, eventually, a “decision about what’s the next step in my future.”

“It’s obvious that with the circumstances that I am playing (in),” Nadal said, “I can’t and I don’t want to keep going.”

During the trophy ceremony, Nadal thanked his family and support team, including a doctor who accompanied him to Paris, for helping him, because otherwise he would have needed to “retire much before.”

“I don’t know what can happen in the future,” Nadal told the crowd, “but I’m going to keep fighting to try to keep going.”

He played so crisply and cleanly Sunday, accumulating more than twice as many winners as Ruud, 37 to 16. Nadal also committed fewer unforced errors, making just 16 to Ruud’s 26. After trailing 3-1 in the second set, Nadal would not cede another game.

“After that moment,” Nadal said, “everything went very smooth.”

Sure did.

The view from the other side of the net?

“I’m just another one of the victims,” Ruud said, “that he has destroyed on this court.”

One of the most indelible memories Ruud will take away from this day was hearing the announcer recite the long list of years Nadal had previously won the French Open: 2005, 2006, 2007, 2008, 2010, 2011, 2012, 2013, 2014, 2017, 2018, 2019 and 2020.

“Never stops, it seems like,” Ruud said. “That takes like half a minute.”

When the players met at the net for the prematch coin toss, the first chants of “Ra-fa!

Ra-fa!” rang out in the 15,000seat stadium. Ruud would later hear folks in the stands do drawnout pronouncements of his last name, so it sounded as if they might be booing.

Nadal is 14-0 in finals

at Roland Garros, 112-3 overall.

When this one ended with a downthe-line backhand from Nadal, he chucked his racket to the red clay he loves so much and covered his face with the taped-up fingers on both of his hands.

THE Golden State Warriors’ Stephen Curry hugs after Poole hit a long three-point shot at the end of the third quarter of Game 2. AP

WARRIORS FINISH JOB THIS TIME IN GAME 2 S

EVEN if Rafael Nadal, a French Open champion for the 14th time now at age 36, is in obvious ways different from Nadal, a French Open champion for the first time all the way back in 2005 at age 19, that desire to give his all, no matter what, to “find solutions”—one of his oft-used phrases—remains the same. AP

Donaire goes after unbeaten Inoue in title rematch in Japan on Tuesday

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NONITO DONAIRE JR. targets Naoya Inoue’s world titles.

Pay parity IN the recently-concluded Vietnam 31st Southeast Asian Games, as far as individual sports is concerned, both male and female athletes received the same amount of cash prize for winning gold, silver and bronze medals.

Other individual sports athletes, whether male or female, receive more because of prizes coming from their sponsors and home local government units (LGUs).

For team sports, the cash prize is divided among the members of the team.

Why did I point this out?

According to CNN.com, “History was made on Tuesday when, in settling an equal pay dispute that dates back to March 2019, US Soccer committed to providing the same pay rates for tournament and exhibition games going forward to its women’s and men’s teams.”

CNN.com continues, “Here’s how the story goes: in a

By Josef Ramos

HEY meet again—Nonito “The Filipino Flash” Donaire and unified world champion Naoya Inoue of Japan—on Tuesday at the Super Arena in Saitama, Japan.

They first fought three years ago with Inoue escaping with a unanimous decision win over Donaire.

Donaire engaged Inoue in a classic encounter in November 2019 but despite the loss, he injured Inoue’s orbital bone in his right eye and later on tremendously bounced back by knocking out French champion Nordine Oubaali in May

lawsuit that listed 28 of the team’s players as plaintiffs, the US Women’s National Team (USWNT) claimed that they were paid less than the men’s team, and that it constituted a form of gender discrimination.... A judge ruled against them in May 2020, and the following year, USWNT filed an appeal.

The fight was acrimonious and public, but the team reached a $24 million settlement on Tuesday with US Soccer. Of this, $22 million is going to the players in the case and another $2 million “into an account to benefit the USWNT players in their post-career goals and charitable efforts related to women’s and girls’ soccer,” with players able to apply for up to $50,000 from this fund, according to a joint statement by US Soccer and USWNT. The road to pay parity in US soccer has been a long and bumpy one with the statement admitting that “getting to this day has not been easy” and twotime World Cup winner Megan Rapinoe saying of the settlement: “We’ve been in this for a long time and coming from a long history of women that have fought to put this sport in a better place.”

This news is not just of consequence to fans and players of women’s soccer in the US. Disparities between what men’s and women’s teams are paid exist all over the world, with the size of that pay gap dependent on the sport and what conscious action has been taken to equalize pay.”

The article mentioned “disparities between what men’s and women’s teams are paid exist all over the world.” As for here at home, to my knowledge, and I’ve been around Philippine sports for quite a while, there has been no case filed against any national sports association for women receiving lesser pay than the men which constitutes to gender discrimination.

2020 in Carson City to become the oldest World Boxing Council champion then at 38.

“Our first fight was brutal and amazing, it was a classic but this rematch is going to be even better,” Donaire told the fight’s news conference. “I’m heading into this monumental fight with a new mindset, because the first contest with Inoue was an awakening for me and I know I can defeat him.”

Now 39, Donaire (42-6 win-loss record with 28 knockouts) seeks vengeance against the 29-yearold Inoue, who’s putting his 22-fight winning streak—with 19 knockouts) on the line.

AN FRANCISCO— Just like in Game 1, the Golden State Warriors took command with a big third quarter.

Unlike Game 1, they finished the job.

The NBA Finals are now tied, after the Warriors turned a close game into a rout with a third-quarter masterpiece.

Stephen Curry scored 29 points, Jordan Poole connected from just inside of midcourt to cap the pivotal period and the Warriors beat the Boston Celtics 107-88 on Sunday night in Game 2.

“I thought everybody was more engaged,” Warriors coach Steve Kerr said after his team improved to 5-0 after a loss in these playoffs. “It’s pretty obvious. Just our level of force and physicality was ramped up quite a bit, and it had to be.”

Poole finished with 17 points for the Warriors, who outscored Boston 35-14 in the third quarter to turn a two-point halftime lead into a 23-point edge. And when the Warriors then scored the first six points of the fourth, the Celtics waved the surrender flag and emptied their bench.

“We said we needed to play with desperation,” Curry said. “That’s what

we did.” Golden State also got 12 from Kevon Looney on 6-for-6 shooting, and 11 apiece from Andrew Wiggins and Klay Thompson.

Jayson Tatum scored 21 of his 28 points in the first half for Boston.

Jaylen Brown added 17 for the Celtics, but fought through a 5-for-17 shooting night, and Derrick White scored 12.

Just like in Game 1, a huge run decided everything. The Celtics went on a 48-18 run in the second half to decide the opener. The Warriors didn’t wait that long in Game 2, going on a 43-14 burst from late in the first half until early in the fourth quarter to turn a tie game into an absolute runaway.

Game 3 is Wednesday in Boston.

Curry had 14 of his points in the third, making three of his five 3-pointers in the quarter. Boston was 4 for 15 in the quarter, got outscored 21-6 on 3s and let the Warriors turn five turnovers into 11 points.

“Steph was breathtaking in that quarter,” Kerr said.

The Celtics turned a 15-point third-quarter deficit into a 15-point fourth-quarter lead in Game 1, but that wasn’t happening again Sunday. Boston coach Ime Udoka even picked up a technical in an effort to show his displeasure with things, including whistles or lack thereof, to no avail.

“I just let them know how I felt throughout the game in a demonstrative way, on purpose, to get a technical,” Udoka said. AP

“It’s a good fight and Nonito [Donaire] is fighting very, very well,” Top Rank’s Bob Arum told BusinessMirror on Monday. “He figures to give Inoue a good fight so it should be an interesting fight,” Donaire’s first defense of his WBC crown came expectedly easy against compatriot Reymart Gaballo, whom he beat via a fourthround technical knockout last December also in Carson City.

Arum, however, predicted that Inoue could knock out Donaire in the seventh or eighth round.

“It’s going to be a close fight but I’d like Inoue coming for a seventh- or eighth-round knockout win,” Arum

said. “It’s a good rivalry and Inoue is the best fighter in Japan.”

After beating Donaire, Inoue knocked out Australian Jason Moloney, Filipino Michael Dasmariñas and Thai Aran Dipaen one after the other during the pandemic.

But the four weight division world champion Donaire was defiant.

“June 7 in Japan is going to be a special evening for the sport and make no mistake, it will end in a Donaire victory,” he said.

Donaire made the weight at 117.7 pounds while Inoue tipped the scales at 117.9 pounds during the formal weigh in.

We humbly request our brothers and sisters in the sports journalism profession to please correct me if I’m wrong.

Eliza Ayangwe, Editor of CNN As Equals writes, “The first thing is that leadership matters.” “I would say the most immediate cause of [the victory] was Cindy Parlow Cone taking over as the new US Soccer president,” says Steph Yang, women’s soccer staff writer at the Athletic, who has been following the topic of equal pay in soccer since 2012.

“Cone understood the players coming from her perspective as a former national team player. But not just that,” Yang told CNN, adding that, “after your predecessor resigns, it does become imperative that you start tidying things up as quickly as possible.”

The second is public visibility and support. Neena Chaudhry, General Counsel at the National Women’s Law Center, which supported the USWNT with its appeal, says of the case: “The law can certainly be a leader, but it is also about changing hearts and minds. Especially in the sports world, so much of what is behind the unequal treatment of professional women athletes is a cultural dismissing of women’s sports but [USWNT players] blazed a trail, elevating the issue in the public consciousness. People are paying attention” are lessons to be learned not just as advocates of equality, equal pay, and supporters of pay parity not just here but all over the world.

“The United States loves gold medal winners,” echoes Yang, referring to the growth in popularity of women’s soccer after the team took home gold at the first Olympics to include women’s soccer: the 1996 Games in Atlanta.

The third lesson is that investment determines outcomes. Yang, Chaudhry, and countless others have made the case that human beings have no natural preference for

men’s sports over women’s. What you put in is what you get out and USWNT put a lot in at the beginning, resulting in them standing head and shoulders above the competition, which in turn created buzz and public support.

If you make a modest investment upfront, “you’re going to outperform 95 percent of the rest of the field,” says Yang.

She contrasts the investment made in women’s soccer in the 1990s to the lack of investment in women’s college basketball in the US today.

Last year a video shared by Sedona Prince, a basketball player for the University of Oregon, went viral as she showed the small stack of dumbbells she said were meant to be the women’s “weight room,” followed by the spacious, well-equipped space used as the men’s weight room. In the aftermath, a study conducted by an outside firm, commissioned by the NCAA, found that women’s basketball was indeed undervalued compared to the organization’s men’s teams. The NCAA Board of Governors released a statement saying it was “wholly committed to an equitable experience among its championships.”

In Ireland, “In a groundbreaking deal for Irish sports,” their football association, the FAI (Football Association of Ireland) announced in August of 2021 that, “players representing the Republic of Ireland Senior Men and Senior Women’s international teams will receive the same match fees on international duty.” That folks, is not the luck of the Irish working for Irish women footballers, but pay parity working for everyone.

In the Vietnam SEA Games, the women’s basketball team successfully defended its gold medal. The women’s football team bagged the bronze medal after a very long drought without a podium finish in the sport.