BusinessMirror June 29, 2022

Fed’s moves impacting peso–Fitch Solutions

By Bianca Cuaresma @BcuaresmaBM

& Jovee Marie N. Dela Cruz

T

@joveemarie

HE aggressive path of the United States Federal Reserve is weakening the value of the local currency, and could potentially further shave off value from the peso should the Bangko Sentral ng Pilipinas (BSP) fail to “keep up” with the Fed’s normalization path, according to international think tank Fitch Solutions.

In a recent research note, it said the tightening of global monetary conditions has exerted significant downside pressure on the Philippine peso.

“This will also likely prompt the

BSP to hike interest rates to prevent the currency from weakening too much,” the think tank said.

The US raised its interest rate by 75 basis points in mid-June this year, bringing the Federal funds rate to 1.5 percent. This hike followed a 50 basis point increase in May and marked the largest upward move since 1994.

The peso has been significantly weakening in recent months, hitting its lowest value since 2005 earlier this month.

On Tuesday, data from the Bankers Association of the Philippines (BAP) showed that the peso closed at P54.77 to a dollar in the day’s trade, with a total traded volume of $1.653 billion.

Tuesday’s peso value is steady

from the P54.78 to a dollar close on Monday, where the total traded volume was lower at $1.18 billion.

Future moves crucial

According to Fitch Solutions, the BSP’s future moves on its monetary policy will be crucial to the movement of the peso.

“If BSP chooses to stand pat in subsequent meetings, real interest rate differential could narrow and trigger capital outflows, exacerbating downside volatility for the peso.

Since the start of the year to June 23, the peso has already weakened by approximately 6.7 percent to P54.67 per US dollar,” Fitch Solutions said.

In the BSP’s monetary policy meeting this month, it has hiked its rate by 25 basis points, the

second 25 basis point hike for the year.

“In deciding to raise the policy interest rate anew, the Monetary Board noted that upside risks continue to dominate the inflation outlook up to 2023, with pressures emanating from the potential impact of higher global non-oil prices, the continued shortage in domestic fish supply, as well as pending petitions for transport fare hikes due to elevated oil prices,” BSP Governor Benjamin Diokno earlier said.

OFW factor

Meanwhile, a senior lawmaker is urging incoming Labor Secretary Bienvenido Laguesma and Migrant See “Fed,” A2

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EJAP JOURNALISM AWARDS EJAP JOURNALISM AWARDS

BUSINESS NEWS NEWS BUSINESS SOURCESOURCE OF THE YEAR OF THE YEAR

(2017, 2018, 2019,2018, 2020)2019, 2020) (2017,

DEPARTMENT OF SCIENCE AND TECHNOLOGY DEPARTMENT OF SCIENCE AND TECHNOLOGY 2018 BANTOG MEDIA AWARDS

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Wednesday, June 29, 2022 Vol. 17 No. 264

P25.00 nationwide | 2 sections 24 pages | 7 days a week

PHL LIFTS INVESTMENT CURBS ON DEFENSE BIZ n

By Cai U. Ordinario

Palace: Execs in smuggling report deserve day in court

@caiordinario

& Samuel P. Medenilla

T

@sam_medenilla

HE Philippines has removed the restrictions on foreign investments in weaponsmaking in the country, according to the 12th Foreign Investment Negative List (FINL).

Under the 12th FINL, the “manufacture, repair, storage and/or distribution of products requiring Department of National Defense [DND] clearance,” which used to have a 40-percent cap in the 11th FINL, has been removed.

Sources from the National Economic and Development Authority (Neda) said this takes into consideration the changes included in the Foreign Investment Act (FIA) where the DND “can recommend to liberalize investments in defenserelated manufactures.” “[It’s still] subject to review.

May existing rules naman ang DND to process investment applications [These will still be subject to review. DND has existing rules to process investment applications],” the Neda source told the BusinessMirror.

Based on the 11th FINL, this included “guns and ammunition for warfare; military ordinance and parts thereof (torpedoes, depth charges, bombs, grenades, missiles); and gunnery, bombing and fire control systems and components; and missiles/missile systems and components; tactical aircraft (fixed and rotarywinged), parts and components thereof.

M

PUBLIC SERVICE HUB The Express Lingkod Office (ELO) Serbisyo Center was launched on Tuesday at a mall in Parañaque City, as part of the local government’s move to upscale the quality and delivery of public services to its constituents. The Serbisyo Center is the first of its kind in the country and brings under line roof all frontline services of the Paranaque City Government from business permits application and processing, building permits processing to Covid-19 vaccination and issuance of senior citizen cards. From left , Christopher Maglanoc-President of Ayala Malls Inc.; Atty.

Melanie Malaya-BPLO (Business Permit and Licensing Office) Chief Head of Parañaque; Dra. Olga Virtusio-City Health Officer of Parañaque and newly elected Parañaque Mayor Eric Olivarez. ROY DOMINGO

‘CARRY LANG’: PHL AMONG ‘MOST POSITIVE’ NATION

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HE Philippines remains one of the world’s “most positive” amid the pandemic, according to Gallup’s 2022 Global Emotions Report.

Based on the report, the Philippines was among the top countries that recorded the highest positive experiences in the world. The country scored 81 in Gallup’s Positive Experience Index along with Iceland and Senegal.

The index was topped by Panama with a score of 85 followed by Indonesia and Paraguay with a score of 84 as well as El Salvador, Honduras, and Nicaragua, 82.

Denmark and South Africa, which recorded a score of 80, were also top performers

after the Philippines.

“The Positive Experience Index is based on people’s responses to five questions about positive experiences they had the day before the survey. Higher scores indicate that more of the population reported experiencing these emotions,” Gallup explained.

However, it said the global Positive Experience Index score in 2021 was 69 which was lower than the 71 posted in 2020. The Philippines’s score in 2020 was also 81.

“On top of the increase in negative experiences, fewer people reported that they had positive experiences the previous day. After several years of stability,

the Positive Experience Index score in 2021—69—dropped for the first time since 2017,” Gallup said.

Gallup asked 1,200 Filipinos if they felt or experienced 10 emotions, namely, anger, sadness, stress, worry, pain, enjoyment, well-rested, learned, smiled, and respect the day before the survey.

Based on the 2022 report, which relied on 2021 data, Filipino respondents experienced positive emotions. Majority or 95 percent of respondents felt respected and 81 percent smiled the day before the survey was administered.

The Gallup data also showed 78 percent of Filipino respondents felt or experienced

enjoyment and learned something in the past 24 hours. A slightly lower percentage of 76 percent said they felt well-rested the day before.

In terms of negative emotions, the highest negative emotion felt by Filipinos was stress, with 48 percent of respondents saying they felt this 24 hours prior to the survey.

This was followed by sadness which was felt by 35 percent of respondents; worry, 34 percent; anger, 27 percent; and pain, 17 percent.

“Latin American countries typically dominate the list of countries where adults

ALACAÑANG urged concerned authorities to file charges against government officials linked by the Senate to smuggling of agricultural products.

Acting Presidential spokesman Martin M. Andanar disclosed this will ensure that such officials get the chance to defend themselves against the allegations hurled against them.

“File the necessary charges before the Office of the Ombudsman so officials and persons mentioned in the Senate report could be afforded due process, face their accusers, and have their day in court,” Andanar said in a brief statement issued on Tuesday, hours after the Senate released a report naming 22 persons allegedly connected to illegal importation of agricultural products.

Among those on the list are Bureau of Customs Chief Leonardo B. Guerrero, Customs Deputy Commissioner for Intelligence Group Raniel T. Ramiro, Customs Deputy Commissioner Vener S. Baquiran, Customs Intelligence and Investigation Service Director Geoffrey Tacio, and Yasser A. Abbas of Customs Import and Assessment.

Also named in the list are Agriculture Undersecretary Ariel T. Cayanan, Bureau of Plant and Industry (BPI) Director George Y. Culaste, Bureau of Fisheries and Aquatic Resources Director Eduardo B. Gongona, Laarni Roxas of BPI Plant Quarantine Services Division Region 3.

Some local officials were also part of the list, including former mayor and incoming

See “Positive,” A2

See “FINL,” A2

PESO exchange rates

See “Palace,” A2

n US 54.9820 n japan 0.4059 n UK 67.4629 n HK 7.0067 n CHINA 8.2137 n singapore 39.6810 n australia 38.0585 n EU 58.2039 n SAUDI arabia 14.6493

Source: BSP (28 June 2022)

A2

BusinessMirror

Wednesday, June 29, 2022

DOH prods health units on P360-M unliquidated benefits

By Claudeth Mocon-Ciriaco Correspondent

S

TRESSING that “timely” submission will facilitate “immediate” distribution, the Department of Health (DOH) on Tuesday urged anew all health facilities to submit all documentary requirements for the grant of healthcare worker benefits related to Covid-19, as over P360 million remains “unliquidated.”

“Timely submission will facilitate the immediate distribution of the Special Risk Allowance [SRA]; Meals, Accommodation, and Transportation [MAT] allowance; and One Covid-19 Allowance [OCA] funds to our healthcare workers and frontliners who deserve to be paid on time. DOH urges all to do their part towards this goal,” the DOH said.

These include the Covid-19 Risk Exposure Classification (CREC), attestations, and

Palace. . .

Continued from A1

Navotas, representative Tobias “Toby” M. Tiangco, and incoming Tuburan Mayor Democrito “Aljun” M. Diamante.

Tiangco and Diamante belied their alleged involvement in smuggling activities.

Binay defends Tiangco

Senator Nancy Binay took up the cudgels for Tiangco blaming “failure of intelligence” for his inclusion in the list. Tiangco himself has been “very active and vocal” against smuggling and diversion of marine and aquatic products in Navotas City, she noted.

“It is impossible and no way for Mayor Toby to be a protector,” Binay stressed, adding: “I know him personally and I believe his name shouldn’t have been in the list in the first place. In truth, ever since, Mayor Toby has been very active against the sneaking in of BFAR imported products.”

Memorandum of Agreement (MOA).

The latest data collected by the Department D O H - M e t r o Manila Center for Health Development (MM CHD) showed the following amounts as still unliquidated by private health facilities: P68 million of SRA across 117 health facilities; P21 million of MAT across 39 health facilities; and P145 million of OCA across 56 health facilities.

Ten local government units have yet to liquidate a combined amount of P101 million across all the three benefits, and three national government hospitals have yet to liquidate P30 million of SRA. Likewise, the DOH said Liquidation Reports covering any previously transferred funds from the DOH must also be submitted to the respective DOH Centers for Health Development (CHDs).

As cited in Commission on Audit (COA) The senator recalled that following “miraculous happenings” at the entry points of Navotas, ‘”it was Mayor Toby himself who wrote the Department of Agriculture (DA) to “report the smuggling, and even wrote a letter to the DA” about it.

The DA ignored the letter, and the city government itself filed a case before the DA as the DA itself was not moving, the senator pointed out.

Binay said the inclusion of Tiangco in the NICA report submitted to the Senate “lacks details and explanation, has no material basis, and is a product of misinformed guesses.”

At the same time, Sen. Binay aired hopes the smuggling problem in the DA and Customs will be immediately addressed by the incoming administration.

She recalled that from 2016 to 2022, about 103 cases related to agricultural smuggling, with a total value of P1.35 billion smuggled products, have been filed, adding that “on record, the National Prosecution Service filed agricultural smuggling-related cases only against four people; one of the cases

Circular No. 2012-001 dated June 14, 2012, the DOH pointed out, it is a “fundamental principle” that all claims against government funds shall be supported with “complete documentation.”

“Furthermore, the same COA Circular requires that for any new fund transfers to happen, funds previously transferred to the implementing agency—the health facilities in the case of SRA, MAT, and OCA—must first be liquidated and accounted for,” the DOH added.

“The DOH is following established government accounting rules and regulations meant to ensure that the public funds for Covid benefits reach each and every healthcare worker [HCW] they are meant for,” says Health Undersecretary and Chief of Staff Leopoldo J. Vega.

He added, “The DOH is more than willing to guide PHAPI [ Private Hospitals Association of the Philippines] on policies that aim to ensure

has been dismissed due to lack of evidence.”

For his part, Andanar said the Palace supports the Senate probe on purported illegal activities in the government. “We are one with the Senate in fighting corruption in the bureaucracy.”

But he reiterated the persons included in the Senate list should be given due process.

Outgoing Senate President Vicente “Tito” C. Sotto III disclosed he has submitted a copy of the Senate report to President-elect Ferdinand “Bongbong” R. Marcos Jr.

DA official deny claims

Agriculture officials on Tuesday denied involvement in agricultural smuggling after being named in the Senate report as alleged protectors and smugglers of farm goods.

A Senate Committee of the Whole report released recently identified 22 agriculture and customs officials as alleged protectors and smugglers of agricultural products.

Agriculture Undersecretary Ariel T. Cayanan said he will not resign from his post, maintaining his innocence and arguing that

appropriate use of government funds. We also invite PHAPI and other interested health-care worker groups to please join our regular forums where we provide updates on the status of the benefits.”

Meanwhile, Health Undersecretary Maria Rosario Vergeire hopes PHAPI President Dr. Jose de Grano will meet with DOH so that they can explain to him the “bottlenecks” encountered, causing the delay in the release of OCA. “We have already downloaded our funds to our Centers for Health Development. We ask for reports from our regional offices and the reports given to us would be that the funds are ready but some of the hospitals have not yet completed their memorandum of agreement, some of the hospitals have not liquidated the funds previously given to them. So, hindi pa talaga natin ma-release ang pera [we can’t really release the money],” Vergeire stressed.

there has been no concrete evidence showing his involvement in agricultural smuggling.

“This is the first time that my name was included in such an issue and the timing is during the transition [of agriculture leadership]. There is no clear-cut evidence showing my participation or involvement in what they are saying as protection [of agricultural smugglers],” Cayanan said in an interview with CNN Philippines on Tuesday.

Cayanan said he does not have bureaucratic oversight over quarantine officers in his current capacity as Agriculture Undersecretary for Operations. Thus, it is hard for him to be involved in any forms of importation, both legal and illegal.

Cayanan said he will submit himself for investigation and face allegations thrown against him, especially if Presidentelect Ferdinand Marcos Jr., who is also the concurrent Agriculture Secretary, pursues the matter.

“I will tell the President that Mr. President here I am and I am opening myself for investigation and I will provide him with all the documents about what really happened in the DA. I will show him documents, not mere stories,” he said.

“My current position is based on trust and confidence. If he [Marcos] has the trust, I will be happy to embrace it. If I do not have his trust, then I will accept that fate,” he added.

Likewise, Bureau of Plant Industry’s Culaste said he was shocked over his inclusion in the list, arguing that he does not have control over the country’s ports and could not be responsible for the release of imported vegetables even without proper permits.

In a statement, BFAR defended Gongona, under whose leadership, it said, “the DA-BFAR has remained committed to the government’s endeavor to end corruption by instituting mechanisms and processes that uphold integrity and good governance within the agency.”

“As proof of this commitment, the DA-BFAR has, for the last five years, worked incessantly to improve its quality management system to ensure effectiveness, transparency, and accountability in all its processes. This quality management system has received an ISO 9001:2015 certification in 2020,” the bureau added.

For his part, Dar said the three agriculture officials named in the Senate’s report must be “given a chance to face their accusers and defend themselves in the proper forum.”

Earlier this month, Dar said the DA remained firm in its “no to corruption” policy following a House hearing on the accusation of an agriculture official allegedly involved in extortion. (Related story: https://businessmirror.com. ph/2022/06/02/d-a-firm-in-policy-vs-corruptionsays-dar).

Last week, Sotto said he expects Marcos to “clean smuggling and corruption at the BOC and the DA.” (Related story: https://businessmirror.com.ph/2022/06/21/ sotto-hopes-marcoss-move-to-head-da-will-leadto-corruption-cleanup/). Jasper Emmanuel Y. Arcalas,

www.businessmirror.com.ph

FINL. . .

Continued from A1

The list also includes guided space vehicles and component systems; combat vessels (air, land and naval) and auxiliaries; military communications equipment; military communications equipment; night vision equipment; stimulated coherent radiation devices, components and accessories; armament training devices; and others as may be determined by the Secretary of the DND. President Duterte signed Executive Order (EO) No. 175 promulgating the updated RFINL containing the list of activities reserved for Filipinos subject to some exceptions and conditions.

He noted that EO 175 aims to make the RFINL consistent with existing laws and new policies “to ease restrictions on foreign participation in certain investment activities.”

Under the 12th FINL, only the manufacture, repair, storage, and/or distribution of products and/or ingredients require Philippine National Police (PNP) clearance that have a 40-percent foreign equity restriction.

In an official statement, Socioeconomic Planning Secretary Karl Kendrick T. Chua said the changes in the 12th FINL reflected not only the changes in the FIA but also “recently passed amendments to the Public Service Act [PSA] and Retail Trade Liberalization Act [RTLA].”

The Neda said the 12th FINL also reflects the full foreign ownership liberalization for telecommunications, domestic shipping, railways and subways, and air transport as provided under the amendments to the PSA. The revised list incorporates as well the amendments to the RTLA that provides for a uniform minimum paid-up capital of $500,000 (P25 million) from as much as $2.5 to $7.5 million for non-luxury foreign retailers.

The 12th FINL also takes into account amendments to the FIA which allows for a lower minimum paid up capital of $100,000 for non-Philippine nationals if the enterprise i) involves advanced technology as determined by the Department of Science and Technology, ii) endorsed as a startup by the lead host agencies pursuant to the Innovative Startup Act, or iii) employs no less than 15 Filipino employees.

“In the future, we also intend to liberalize more sectors like renewable and inexhaustible energy sources such as wind, tidal, solar to help address the looming power crisis and climate change concerns,” Chua said.

Apart from this, natural-born Filipinos who are now citizens of other countries may now own land and invest in cooperatives under the 12th FINL. Under the latest version, there are no more restrictions on the investments made by former natural-born citizens of the Philippines in cooperatives and more than 40-percent equity in owning private lands.

In terms of cooperatives, sources from the National Economic and Development Authority (Neda) said natural-born Filpinos are exempted under Republic Act 8179 on foreign investments passed in 1996.

In terms of land, sources told BusinessMirror that the limit for naturalborn Filipinos now is 5,000 square meters of urban land and 3 hectares of rural lands.

Professions

Samuel Medenilla, Butch Fernandez

Meanwhile, in terms of the practice of professions, the national government added six professions where foreigners are not allowed to practice under Philippine laws.

These professions are criminology; food technology; marine deck and engineering; professional teaching; radiologic and x-ray technology; and speech language pathology.

However, in terms of corporate practice of professions with foreign equity restrictions now only includes architecture. The restrictions on corporate practice of professions in the 11th FINL, except for architecture, no longer have any restrictions.

This includes aeronautical engineering; agriculture and biosystems engineering; chemistry; electronics engineering; environment planning; forestry; guidance and counseling; interior design; landscape architecture; naval architecture; psychology; real estate service; sanitary engineering; and social work.

The Neda is tasked to review and revise the country’s FINL. The FINL contains investment areas/activities where foreign equity participation is limited by mandate of the Constitution and specific laws.

It also consists of investment areas/activities where foreign equity participation is limited for reasons of defense, security, risk to public health and morals, and protection of small- and medium-sized domestic market enterprises.

The amendment of the list is led by the Neda Secretariat, as provided for under Section 8 of RA 7042, or the Foreign Investments Act of 1991, which states that amendments may be made upon the recommendation of the secretary of national defense or the secretary of health, or the secretary of education, endorsed by the Neda, approved by the President, and promulgated by a Presidential Proclamation.

Positive. . .

Fed. . .

Continued from A1

Continued from A1

report a lot of positive emotions each day,” Gallup said.

“Several countries outside of Latin America that ranked among the most positive in 2020 also made a return appearance in 2021: Iceland, the Philippines and Senegal,” it, however, pointed out.

The results in the Gallup report were based on nationally representative, probability-based samples among the adult population, ages 15 and older.

The Positive Experience Index and Negative Experience Index are calculated from surveys in 122 countries and areas in 2021 and early 2022.

The 2021 results are based on telephone or face-toface surveys of approximately 1,000 or more respondents per country or area. Gallup conducted 3,500 interviews in China, 3,000 in India, and 2,000 in the Russian Federation.

For results based on the total sample of national adults, the margin of sampling error ranges between ±2 and ±5.5 percentage points at the 95 percent confidence level.

The margin of error reflects the influence of data weighting. In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls. Cai U. Ordinario

Workers Secretary Susan Ople to lift deployment bans for health care workers and other in-demand OFW jobs, to help mitigate the impacts of currency depreciation and to create jobs for Filipinos.

“I appeal to Secretary Laguesma, who has been my friend since the Estrada administration, and to Secretary Ople. Just lift the deployment bans. It’s contrary to sound social policy. It’s also bad economic policy,” said House Committee on Ways and Means Chairman Joey Sarte Salceda.

Salceda said he also discussed with incoming Bangko Sentral ng Pilipinas Governor Felipe Medalla that the best path to managing the peso’s depreciation is “not to artificially support the currency, but to just earn more dollars” through OFWs and exports.

“That way, the depreciation benefits the economy. It’s not something that scares me. Depreciation has been national policy in so many of our export-oriented neighbors,” he said.

“When the peso is cheap, the easiest logical choice is to earn more foreign currency. There is no easier way to do that, in our case, than to allow OFWs to work wherever they wish. Labor mobility is a human right, after all. And in this case, it’s good economics, too,” Salceda said.

He added that “normally, some 17,000 to 23,000 health care workers leave the country every year. They earn around P150,000/month. So, you are foregoing some P18 to 28 billion in annual income for Filipino families just for healthcare workers alone. That’s earned income, not income we need to give in ayuda.”

“That represents around 4-5 percent of OFW remittances every year as well,” he said.

Salceda noted the deployment ceiling of 6,500 for Filipino healthcare workers. In November 2021, the Philippine Overseas Employment Administration (POEA) temporarily suspended the processing and deployment of healthcare workers (HCWs), particularly nurses, as the annual deployment cap of 6,500 had been reached.

“OFWs should have the right, barring obvious security and legal reasons, to work wherever they think will help them and their families. It so happens to be good economics, too,” added the solon.

“When you think about it, the policy is hideous. Imagine forcing health care workers to stay at home and just suck it up if they have complaints about low pay here. If the point is to keep them during a health emergency, the best way is to pay them right. Besides, if you don’t pay them enough, they won’t work for our hospitals. They’ll just stay at home. So, as a policy, it’s set for failure,” he said.

This March, the lawmaker said the POEA also announced it is mulling over a 7,500 deployment cap this year.

Home Improvement A BusinessMirror Special Feature

www.businessmirror.com.ph

Wednesday, June 29, 2022 A3

Going back to basics with home improvement

By Anne Ruth Dela Cruz

W

ITH Filipinos spending more time at home because of intermittent lockdowns over the past two years, many of them were encouraged to create a safer and more comfortable space for their families as work and learning were moved to homes.

It was reported in June 2021 that the construction industry was initially affected during the second quarter of 2020 when the lockdowns were implemented.

With the easing of the quarantine restrictions sometime in June 2020, customers started to flock to stores to purchase the things they needed for home renovation.

“When people started staying at home, they started to sit back and relax and had a reset of their lives. People started taking care of their homes and themselves and they started gardening and renovating their homes,” said Michael Co, CEO of Cebu Home Builders in an interview.

He noted that in the last quarter of 2020, sales picked up as it was driven by the boom in the home renovation market.

“It’s the renovation industry that is sustaining the ecosystem,” he said, adding that he expected the market to rebound as more people get vaccinated.

Comfort and security

When it comes to home improvement trends, many decorating and design decisions were inspired last year by a need for comfort and security, and these same themes will dominate interior design trends in 2022.

“The trend in home improvement is gradual and long lasting.

In the next few years, there will be more eco-friendly products and automation, or what we call smart home products,” said Kelvin Ting, owner of Floors to Walls.

Floors to Walls aims to provide clients in the construction sector with an array of material options that could easily fit their construction budget and project design specifications. In short, Floors to Walls aims to be the top expert in defining what materials are to be used for their clients’ home renovation or construction project.

It started as a wholesale supplier with Ting peddling his products to hardware shops in Luzon. As the company grew, they opened their doors to the retail industry in 2012 to provide homes and offices with products and services personalized according to their clients’ preferences.

“But I can see farmhouses, beach houses, vacation houses increasing in the country. More spaces will be allocated for plantitos and plantitas,” Ting said, adding that the construction industry is

Floors to Walls owner Kelvin Ting

projected to register a 14.9 percent growth this year.

Plants, natural elements

There will be a lot of plants and natural elements as the pandemic promoted the idea of going back to the basics.

Ting noted that trends usually start in Manila and then move to the provinces. However, this is not usually the case.

“Provincial markets are more conservative in general but there are still a small number of buyers who have radical or loud preferenc-

es. You will see some items moving fast in certain regions and stagnant in other places,” he said.

Floors to Walls’ best sellers are, as their name implies, tiles which are mostly white with grains, grey SPC or Stone Plastic Composite and wall decors with wave or circle designs.

“Even if the color of this year is supposed to be peri, most of our customers went for the Zen color of dark wood and now the gray shade is more popular,” he said.

Budget is king

When asked for tips on home im-

provement, Ting said it is important to determine a budget and what areas should be prioritized.

“You do not need to spend too much on every single part of the house. However, it is also not wise to save by buying cheap items. If you are working on a budget, decide which space of your house is your priority. For instance, you like to cook and bake and you spend a lot of time in the kitchen, then spend a little more on your kitchen,” he said.

Even before coming up with a budget, Ting pointed out that it is also important for you to come up with a vision of what you want to achieve with your home improvement project.

“Don’t forget to meticulously plan and write down your wish list down to the last detail. It may be a long list but it is critical to include everyone’s perspective on what they want for the home improvement,” he added.

Franchising

In addition to offering products for home construction and improvement, Floors to Walls is now offering a business opportunity for those who want to go into the business of home, building, finishing and décor products.

“Our goal this year is to find franchisees who have the technical knowledge and heart to run the

business using the Floors to Walls brand name,” he said.

Each franchise package includes equipment and software, operations support and marketing support on top of the showroom designs that will highlight the saleable products that are included in the package.

The initial franchise package of Floors to Walls amounts to P4.5 million and comes with a five-year franchise fee, P2 million worth of saleable products, security bond, operation tools and system. Return of investment or ROI can be achieved in less than two years given the targeted low volume, high value transactions that usually occurs in the business.

The franchising process is estimated to last for three weeks, starting on the day of submission of documents to the opening of the store. The minimum location requirement is 200 to 300 square meters for the basic setup. Each target location must be located on a national road and is accessible to the public.

“We aspire to provide the best and most realistic franchise program to potential partners. Our experiences in the past years in this industry have provided us with leanings that we can bestow on our future franchise owners and lead them to the success we aim for both of us,” Ting said.

A4 Wednesday, June 29, 2022 • Editor: Vittorio V. Vitug

The Nation BusinessMirror

DND, Sokor firm ink ₧30-B deal for acquisition of six Navy OPVs

By Rene Acosta @reneacostaBM

D

EFENSE Secretary Delfin N. Lorenzana has signed the P30-billion contract for the procurement of six offshore patrol vessels (OPVs) from Hyundai Heavy Industries, which the defense chief said would complete the Duterte administration’s wish list under the military’s modernization program.

Lorenzana inked the acquisition contract on Monday with the vice chairman and president of the South Korean company at the Department of National Defense (DND), saying during a news briefing on Tuesday that the country gained much more out of the deal as it comes with donation of a warship.

The contract to build and deliver the six OPVs for the Philippine Navy was earlier eyed with Australian shipbuilder Austal, which has an assembly plant in Balamban, Cebu, but was scuttled by the DND after Austal raised the contract amount to P42 billion due to other costs.

Austal, in its effort to save the project, bargained to stick with the original amount, but will only build and deliver five OPVs instead of the six as required, prompting the DND to look for other contractors.

Hyundai, as the new contractor of the Navy project, will not only deliver the six OPVs but will also donate to the Navy a Poohang class corvette that had been used by the South Korean Navy, which Lorenzana said was a plus for the country. Hyundai also beat Turkish contractor AFAST for the project.

DEFENSE Secretary Delfin N. Lorenzana (left) and HHI Vice Chairperson and President Sam Hyun Ka shake hands following the signing of the contract for the acquisition of six offshore patrol vessels (OPVs) for the Philippine Navy in Camp Aguinaldo, Quezon City, on Monday, June 27, 2022.

The OPVs are expected to replace the World War II surface assets decommissioned by the Navy.

PHOTO COURTESY OF DND

The OPVs measure 94.4 meters long, 14.3 meters wide, with a displacement of 2,400 tons, maximum speed of 22 knots, cruising speed of 15 knots and a range of 5,500 nautical miles.

A news statement issued by the DND, through its spokesman Arsenio Andolong, said the OPV project will further enhance the “maritime patrol capabilities” of the Navy, and would include “technology transfer, particularly human engineering operators and maintenance training of equipment, operations training and a design ownership, granting the Philippine Navy a license to manufacture/build using the OPV’s design for the exclusive use of the Philippine government.”

Andolong said a lifetime service support contract was also signed for

the sustainment of the Jose Rizal class frigates.

“The OPV project was prioritized under the Second Horizon of the Revised AFP Modernization Program, as approved by President Rodrigo Roa Duterte in May 2018. This is the culmination of months of careful study by the Department of National Defense, as endorsed by the Philippine Navy,” the DND said.

Hyundai has built the two frigates of the Navy and is also the contractor of the Navy’s two brand-new corvette project.

Meanwhile, a contingent from the Navy is already in Haifa, Israel and has attended on Sunday the launching of two of the Navy’s Fast Attack Interdiction Craft (FAIC), Navy spokesman Cdr. Benjo Ne-

granza said on Tuesday.

The team was represented by the crew of one of the vessels that will be soon named as BRP Lolinato To-Ong. Commodore Alfonso Torres Jr., chairperson of the pre-delivery inspection team, and Commodore Roy Vincent Trinidad, chairperson of the project management Team of the FAIC Acquisition Project, led the contingent in witnessing the launch of the new ships at the Israel Shipyards Limited port, according to Negranza.

Torres acknowledged Israel’s role in the success of the Navy’s Multi-Purpose Assault Craft (MPAC) program. “[Israel] paved the way for the FAIC Acquisition Project, [which] includes a complete transfer of technology, a first of its kind in our defense cooperation,” Torres said.

“This project enables the Philippine Navy to make a ‘leap-frog’ approach in strengthening our littoral defense capability in the areas of warfare, sustainment, and technical knowledge,” he added.

Negranza said the launching followed the conduct of the pre-delivery inspection of the two vessels from June 27 to June 30.

The Navy has ordered eight FAICs from Israel, which it eyed as replacements for all of its decommissioned patrol killer medium (PKM) vessels.

The Navy has used the PKMs for maritime interdiction operations.

Four of the FAICs will be built in Israel while the other four will be assembled in Cavite. The eight vessels have a contract price of P10 billion.

www.businessmirror.com.ph

DOH predicts rise in daily Covid-19 cases next month

By Claudeth Mocon-Ciriaco @claudethmc3

T

HE Department of Health (DOH) on Tuesday said that 3,800 to 5,300 daily Covid-19 cases might occur across the country in mid-July if mobility continues to increase, compliance to minimum public health standards (MPHS) would be reduced and booster uptake “is maintained at this low level.”

Health Undersecretary Maria Rosario Vergeire said that this is based on their updated projections from FASSSTER. “If mobility continues to increase, compliance to MPHS continues to reduce, 20-22 percent reduction, and booster uptake is maintained at this low level, we may see 3,800 to 5,300 daily cases nationally by mid July,” Vergeire told reporters.

FASSSTER was made possible following a partnership with the DOH, Department of Science and Technology-Philippine Council for Health Research and Development, and the Ateneo de Manila University.

It aims to provide a user-friendly tool for modeling disease spreads in the Philippines to aid in the DOH’s disease surveillance efforts.

FASSSTER takes a multi-dimensional approach in modeling disease spreads by using localized indices from Philippine health records and by integrating other data sources, including but not limited to disease and event surveillance systems and electronic medical records.

On Monday, the DOH reported a 53 percent increase in Covid-19 cases from June 20 to June 26 as compared to June 13 to June 19 period.

A total of 4,634 Covid-19 cases were logged from June 20 to June 26, an average of 662 cases per day.

“Pinapaalalahanan ang lahat na huwag maging kampante sa banta ng Covid-19 [We are reminding everyone not to be complacent amid the threat of Covid-19],” the DOH said.

17K cases by end of July

THE DOH on Tuesday also warned that daily Covid-19 cases nationally could rise to over 17,000 by the end of July if the current compliance of the minimum public health standards will not be improved.

Vergeire bared that based on projections of Australian Tuberculosis Modeling Network (AuTuMN), with the baseline scenario of 21 percent decline in the MPHS since February 14, cases may reach 17,105 everyday by end of July.

However, if the MPHS compliance decreased by 22 percent, the Covid cases may reach 22,187 by end of July.

She noted that as of June 26,848 Covid cases were logged in the country.

For the National Capital Region (NCR), assuming in-school capacity increases by August 2022, cases are estimated to increase starting midJuly with a peak in mid-September, but will remain lower than cases observed during the Omicron peak in January.

“If no new VOC [variant of concern] emerges, cases are estimated to peak at 1,784 cases per day by mid-September,” Vergeire said.

The DOH also clarified further that assuming face-to-face classes increases in capacity by mid-August in NCR and no new variant of concern enters the country, the AuTuMN projections “see the start of a slow increase in cases starting in mid-July and peaking by midSeptember which may reach around 1,784 daily cases.”

All set for BBM’s simple, solemn inauguration T

HE inauguration of incoming President Ferdinand “Bongbong”

R. Marcos Jr. on June 30 will be solemn and simple.

Franz Imperial, who is one of the heads of the preparation committee for the momentous event, said except for some minor details that are still being finalized, the program is all set.

“The program we have prepared is very solemn and simple. It would be very traditional dahil sabi nga ni BBM sa vlog niya, ‘hindi kami lilihis pa sa tradisyon,’” he said.

The inauguration of the President of the Republic of the Philippines is a ceremonial event marking the commencement of a six-year term of a new chief executive.

The 1987 Constitution mandates the presidential inauguration to occur on June 30, with the Presidentelect taking his oath of office at exactly 12 noon.

Under the previous 1935 Constitution, the date was December 30, which is also Rizal Day. The last president who took his oath on a December 30 schedule was BBM’s father Ferdinand E. Marcos Sr., when he assumed his second term in 1969.

Imperial said the inauguration, to be held at the National Museum, will start with actress Toni Gonzaga singing the National Anthem.

He added details for the ecumenical invocation that will follow are still being finalized as of press time.

There will also be a 30-minute military-civil parade.

Imperial further disclosed that after the parade, the inauguration song would follow.

“The inauguration song will be ‘Pilipinas Kong Mahal’ and it will be performed by Cris Villonco and the Young Voices of the Philippines choir,” he said.

As reported earlier, Supreme Court Chief Justice Alexander Gesmundo will administer the oath of office.

While the Constitution does not require it, the oath is customarily administered by the Chief Justice of the Supreme Court of the Philippines.

Marcos Jr.’s inaugural speech has fueled speculations, and while they have yet to receive details of the speech, Imperial said he is sure about one thing—the President-elect will

not be needing a teleprompter.

Over the years, various traditions have arisen that have expanded the inauguration from a simple oath-taking ceremony to a day-long event, including parades, speeches, and balls.

Since 1992, the ceremony traditionally begins with the president-elect fetching the incumbent in Malacañang on the morning of June 30.

At the Palace’s State Entrance, the president-elect will wait for the incumbent to descend the grand staircase.

Upon meeting at the foot of the staircase, the president-elect would greet the incumbent.

Then both will travel to the Quirino Grandstand aboard any of the presidential cars.

Following protocol, the outgoing president takes the back right-hand seat of the vehicle, while the presidentelect is seated behind the chauffeur.

At the Grandstand ’s parade grounds, the outgoing president will be welcomed with arrival honors, and then shake hands with the president-elect.

The outgoing president conducts a final troop review and is presented to the public before departing the Grandstand aboard his private vehicle.

However, the custom of leaving the Grandstand immediately was broken when Corazon Aquino and Fidel Ramos chose instead to stay until the end of the inaugural ceremonies of their respective successors.

Marcos Jr.’s inauguration will also take place at the National Museum instead, since the Quirino Grandstand was not readily available for the preparations needed due to the Covid-19 isolation facilities erected on its grounds.

Traditionally, after the outgoing president’s final troop inspection, the inauguration proper would then begin with the singing of the national anthem.

An ecumenical invocation follows, led by leaders of the different major religions of the Philippines, followed by a patriotic musical piece by a musical ensemble.

Economy BusinessMirror

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Editor: Vittorio V. Vitug • Wednesday, June 29, 2022 A5

PHL to borrow P16.71B for rehab of Agus-Pulangi power plants–DOF T

HE Philippines is eyeing to borrow an estimated P16.71 billion for the rehabilitation of Agus-Pulangi power plants in Mindanao as it aims to hasten the country’s shift to clean energy resources.

The Department of Finance (DOF) bared on Tuesday it is now fine tuning a proposed arrangement with the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Power Corp. (NPC) on the funding and rollout and implementation of the rehabilitation projects for the decades-old facilities in the AgusPulangi Hydropower Plant Com-

plex (APHPC).

Under the proposed memorandum of agreement, the DOF will be the main implementing agency, loan borrower and budget holder for the rehabilitation projects, while the PSALM and NPC, as owner and operator, respectively, of the APHPC will both serve as the implementing units.

Divided into two projects, the first series which is estimated to cost P10.19 billion will involve the rehabilitation of the Agus IV, V, VI, and VII plants that is expected to generate a total rated capacity of 417.1 megawatts while the second series

which is pegged to cost P6.52 billion will rehabilitate Agus I, II, and the Pulangi IV plants expected to generate a total rated capacity of 515 MW, NPC Officer in Charge (OIC) Senior Vice President Melchor Ridulme said.

The estimated cost of the projects were based on a study done by the World Bank.

In his report to Finance Secretary Carlos G. Dominguez III, Ridulme said the rehabilitation of the APHPC plants, which is also aimed to ensure the reliability of power supply in Mindanao, is among the major projects of President Duterte that will be turning

over to the next administration.

“Series of Project 1 is already pending approval by the Neda [National Economic and Development Authority], and the MOA [memorandum of agreement] for the proposed arrangement for the loan is being reviewed by the DOF,” Ridulme said during a recent DOF Executive Committee meeting.

As the government is in the process of improving the generating capacity of the Agus-Pulangi power plant complex composed of seven hydropower plants, Dominguez earlier said it can proceed with its plan to gradually acquire coal-fired power

plants in Mindanao and repurpose them through the finance vehicle created for the Philippines under Asian Development Bank’s Energy Transition Mechanism (ETM) initiative.

The latter is meant to accelerate the transition from coal to clean energy of Southeast Asian countries like the Philippines.

The APHPC consists of seven mostly run-of-river hydropower plants with a total installed capacity of 1,001 megawatts (MW). Out of the 1,001 MW of installed capacity of the APHPC, only 600-700 MW is currently available, partly because of the limitations of its aging equipment.

Six of the seven hydropower plants are located along the Agus River which flows 36.5 kilometers (km) from Lanao Lake to Iligan Bay. The seventh hydropower plant is the Pulangi 4, located on the Pulangi River in Bukidnon.

As its Nationally Determined Contribution to the Paris Agreement, the Philippines has committed to a projected GHG emission reduction and avoidance of 75 percent from 2020 to 2030 for the sectors of agriculture, wastes, industry, transport, and energy despite being among the countries with the smallest carbon footprints.

Bernadette D. Nicolas and Manuel T. Cayon

More areas under AL1 DOLE: Lockdowns could derail employment gains Higher budget despite rising Covid log

By Samuel P. Medenilla @sam_medenilla

continued from a16

Also to be placed under Alert Level 1 in Visayas are Negros OccidentalCadiz City, Candoni, City of Talisay, City of Victorias, Enrique B., Magalona (Saravia), La Carlota City, Pontevedra, Pulupandan, Sagay City, San Enrique, and Valladolid; Bohol-Batuan, Calape, Corella, Dimiao, Duero, Garcia Hernandez, Jagna, Lila, Loay, Loboc, Maribojoc, San Isidro, San Miguel, Sevilla, Sikatuna, and Tagbilaran City (Capital); Cebu-Alcoy, Borbon, City of Talisay, Oslob, Pilar, Santander, and Tudela; Negros Oriental-Amlan (Ayuquitan), Bacong, Dauin, Dumaguete City (Capital), Valencia (Luzurriaga), and Zamboanguita; Leyte-Albuera, City of Baybay, Dulag, Javier (Bugho), La Paz, Matag-Ob, Matalom, Palo, Tunga, and Villaba; Northern Samar-Allen, Capul, Lapinig, Lavezares, San Antonio, San Jose, and Victoria; and Samar (Western Samar)-Marabut, Pagsanghan, Paranas (Wright), Tarangnan, and Zumarraga; For Mindanao, the areas to be under Alert Level 1 are Zamboanga del Norte-Dapitan City, Dipolog City (Capital), Jose Dalman (Ponot), Labason, Manukan, Piñan (New Piñan), Polanco, Rizal, and Salug; Zamboanga Del Sur-Kumalarang, Labangan, Lapuyan, Mahayag, Molave, and Ramon Magsaysay (Liargo); Zamboanga Sibugay-Alicia, Buug, Diplahan, Ipil (Capital), Siay, and Tungawan; Lanao del Norte-Bacolod, Baroy, Kauswagan, Lala, Linamon, and Tubod (Capi-

tal); Davao de Oro-Mawab, Montevista, Nabunturan (Capital), and New Bataan; Davao del Sur-Padada; Cotabato (North Cotabato)-Antipas, Arakan, City of Kidapawan (Capital), and President Roxas Sultan KudaratCity of Tacurong, Kalamansig, and Lebak; Dinagat Islands Cagdianao, Dinagat, Libjo (Albor), Loreto, and Tubajon; Surigao del Norte-Claver, Dapa, General Luna, Mainit, and Tagana-An; Lanao del Sur-Bumbaran, Ditsaan-Ramain, and Wao; Maguindanao-South Upi and Upi; and TawiTawi-Turtle Islands.

Meanwhile, Andanar said the following provinces, HUCs, and ICCs shall be placed under Alert Level 2: CAR-Benguet and Ifugao; Region 4A-Quezon Province; Region 4B-Occidental Mindoro and Palawan; Region 5-Camarines Norte, Camarines Sur, and Masbate; Region 6-Antique and Negros Occidental; Region 7-Bohol, Cebu, and Negros Oriental; Region 8-Leyte, Northern Samar, and Samar (Western Samar); Region 9-City of Isabela, Zamboanga del Norte, Zamboanga del Sur, and Zamboanga Sibugay; Region 10-Lanao del Norte; Region 11-Davao de Oro, Davao del Norte, Davao del Sur, and Davao Occidental; Region 12-Cotabato (North Cotabato), General Santos City (Dadiangas), Sarangani, and Sultan Kudarat; CaragaDinagat Islands and Surigao del Norte; BARMM-Basilan, Lanao del Sur, Maguindanao, Sulu, and Tawi-Tawi.

BBM inaugural: Ranking execs from 9 other states attending continued from a16 Earlier, the White House has announcedthatPresidentBidenissending a seven-man delegation for the inaugural, Second Gentleman Doug Emhoff.

“President Biden had considered sending Vice President Kamala Harris and even former president George Bush to lead the US delegation, but in the end, it was decided that it would be Second Gentleman Doug Emhoff, who has often traveled to represent the US administration for important events abroad,” Romualdez revealed.

Chinese special envoy Wang is considered as one of the closest political allies of President Xi Jin Ping. Xi, Wang and Prime Minister Li Keqiang are the leading figures in China’s foreign relations.

Meanwhile, aside from attending the inaugural, the Japanese Foreign Minister is also holding meetings with Marcos Jr. and incoming Vice President Sara Duterte. Hayashi told reporters in Tokyo that Japan sees the Philippines as a “strategic partner sharing basic values and strategic interests.”

“We will make sure of our cooperation toward the realization of a free and open Indo-Pacific region, and further strengthen bilateral relations,” Kyodo news agency quoted Hayashi as saying.

Hayashi will be the first Japanese foreign minister to attend a Philippine presidential inauguration since 2004 when Yoriko Kawaguchi was among the dignitaries. Malou Talosig-Bartolome

A

NOTHER round of lockdowns could derail the country’s efforts to bring down local unemployment rate back to its prepandemic levels, according to the Department of Labor and Employment (DOLE).

Labor Assistant Secretary Dominique R. Tutay disclosed they are currently monitoring the possible escalation of the alert level in Metro Manila and other parts of the country amid a report rise in Covid-19 cases in the said areas.

She said any escalation in the alert level could affect the country’s recovery efforts.

“I do hope we don’t go back to [Alert] Level 2 or 3 because currently there are discussions that said alert levels may be reimposed,” Tutay said in a virtual forum last Monday for the 40th anniversary of the DOLE’s Bureau of Local Employment (BLE).

“We hope there will be no such [escalation] since we want the economy to continue to remain open,” she added.

The Department of Health (DOH) reported 4,634 new Covid-19 cases from June 20 to 26, 2022, which translates to 662 cases per day, or a 53 percent jumps compared to the previous week.

Currently, the National Capital Region and most parts of the country are already under Alert Level 1 where establishments and public transportation are allowed to operate at full capacity.

In areas where there are higher alert levels, business operations and public transportation are restricted to minimize the spread of infection.

Improving figures

BLE said the unemployment rate started to slow down last year reaching 7.3 percent from a whopping 10.3 percent in 2020 following the onset of the Covid-19 crisis.

This after the government started to ease movement and quarantine restrictions.

BLE also noted that total employment nationwide in 2022 already reached 44 million, which was higher compared to the 42.4 million during the pre-pandemic period.

Tutay said DOLE is currently proposing measures to the next administration, which could further boost the pandemic recovery of the labor market.

Among their proposed initiatives will be the continuation of the government’s infrastructure projects as well as expanding the implementation of their Government Internship Program (GIP).

Local tourism helps boost tourism rebound continued from a16 Ilarina said, “expenditures on shopping recorded the largest increase at 48 percent. Expenditures on transport services, and food and beverage serving services increased by 43.4 percent and 38.7 percent, respectively.”

Last year’s spending by domestic travelers paled in comparison, though, to the pre-pandemic spending, which hit P3.1 trillion. Foreign visitor receipts, on the other hand, continued their downtrend in 2021, due to the country’s pandemic travel restric-

tions. The Philippines only reopened to balikbayan tourists in December to enable them to rejoin their families for the Christmas holidays.

Some P8.5 billion in foreign visitor receipts were generated last year, down 90 percent from the previous year’s levels. In 2019, foreign visitor receipts reached P482.15 billion from 8.26 million arrivals.

Andrada said last year’s average daily expenditure was P6,980.72, up from P6,759.19 in 2020. The average length

of stay remained at 10.58 nights.

He said close to 16 percent of last year’s arrivals indicated the main purpose of their visit in the country was for holiday/pleasure, 8.1 percent for business trips, and 2.7 percent for incentive travel. Visitor arrivals from abroad plunged 89 percent to 163,879 in 2021.

Some 60 percent of last year’s arrivals were males, while 40.5 percent were females. They had an average age of 39.08 years old.

UNDER GIP, BLE in partnership with national or local governments, provide internship opportunities for three to six months to selected high school, technical vocational or college student beneficiaries.

Tutay noted no less than the National Economic and Development Authority recognized the importance of the program, especially during the pandemic, which greatly reduced internship opportunities for students.

“They see the value of the program to provide skills and also for the learners to be able to acquire experience because we know that in the last two years, there are no such opportunities for them to do

so,” Tutay said.

The labor official said they hope to be able to increase the current GIP budget of P600 million to about a billion for next year.

Digital opportunities

TUTAY said they are also banking on the policy pronouncement of President-elect Ferdinand “Bongbong” R. Marcos Jr. to improve the country’s digital infrastructure and policies to generate more employment opportunities.

“Employment nowadays goes beyond borders. You can have opportunities abroad using the online platform,” she added.

This was apparent from the rising in-demand jobs in the last two

years, which now includes cyber security specialist, digital marketer, user interface designer, front end web developers, software developer, according to DOLE. However, Tutay said, many are still unable to have access to such virtual jobs due to lack of access to the Internet.

“We have to make sure to bring such infrastructure to the farthest corner of the country so jobseekers who cannot travel to urban areas will have such opportunities,” Tutay said.

The digital infrastructures, she said, should be accompanied by the necessary policies to protect the rights of online workers, who usually have overseas employers.

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Wednesday, June 29, 2022

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Wednesday, June 29, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

3M SERVICE CENTER APAC, INC. 17th, 18th, 19th Floors, Bonifacio Stopover Corporate Center, 31st Street Cor., 2nd Avenue, Bonifacio Global City, City Of Taguig SIM GLORSON Buying Team Leader - Mandarin 1.

Brief Job Description: Person responsible for all supplier commodity buying activities from requisition to payments in support of global source to pay goals.

Basic Qualification: Bachelor’s degree in any business, engineering or finance; knowledge in English and mandarin.

2.

Brief Job Description: Manage and Monitor Indonesian Speaking Customer Service Representative ANTONY Indonesian Speaking Customer Service Officer

3.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern DENNY PUTRA PRATAMA Indonesian Speaking Customer Service Officer

4.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern JEFFERY Indonesian Speaking Customer Service Officer

5.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern STEVEN IRAWAN Indonesian Speaking Customer Service Officer

6.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern VISTHA Indonesian Speaking Customer Service Officer

7.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern ABDUL RAHMAN Indonesian-speaking Customer Service Officer

8.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern DEVIN PUTERA Indonesian-speaking Customer Service Officer

9.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern JASON TASLIM Indonesian-speaking Customer Service Officer

10.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern WAWAN Indonesian-speaking Customer Service Officer

11.

Brief Job Description: Manage Large Amount of Calls, Handle Customers Concern

Basic Qualification: Foreign Language Speaking

18.

19.

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

12.

Brief Job Description: Work across clients to provide support during solution realization and service transition AOKI, KENICHI Service Delivery Ops Team Lead

13.

Brief Job Description: Responsible for activities assigned by Service Delivery Manager

14.

Brief Job Description: General Consulting Services for the North South Commuter Railway Extn. Project

15.

Brief Job Description: Replenish knowledge in industry, products and field

20.

16.

Brief Job Description: Specialize in biopharma products

Brief Job Description: Manages the overall branch operations in the most efficient manner. He will be in charge of establishing clear authority and responsibilities for each job level including bank policies and procedures, and oversee the most profitable use of bank resources through risk management, internal control and good corporate governance.

21.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Language Speaking

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Language Speaking

Basic Qualification: Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999

22.

17.

Brief Job Description: Leads and directs teams to deliver a unique, high-quality, service or product support.

RIPON Senior Mechanic Brief Job Description: Responsible for compiling mechanical equipment

23.

WANG, LINA It Support Specialist (mandarin Speaking) Brief Job Description: It supports for mandarin speaking client.

LIN, WEIQIANG Field Sales Consultant 24.

Basic Qualification: Bachelor Graduate of engr. or more general working experience more than 10 years Salary Range: Php 500,000 and above

Basic Qualification: Good oral and communication skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Master degree with training on oncology products for cancer patients

Brief Job Description: The one responsible to “get the sale” using various customer sales methods.

XU, YANGYANG Field Sales Consultant 25.

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

32.

33.

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

Basic Qualification: Manages the overall branch operations in the most efficient manner. He will be in charge of establishing clear authority and responsibilities for each job level including bank policies and procedures, and oversee the most profitable use of bank resources through risk management, internal control and good corporate governance.

Basic Qualification: Can research accounts and generate or follow through sales leads; can valuate customers skills, needs and build productive long-lasting relationships; can meet personal and team sales targets

Brief Job Description: The one responsible to “get the sale” using various customer sales methods

Basic Qualification: Can Research Accounts and Generate or Follow Through Sales Leads; Can Valuate Customers Skills, Needs and Build Productive Long Lasting Relationships; Can Meet Personal and Team Sales Targets

CANON MARKETING (PHILIPPINES), INC. 7th/f Commerce & Industry Plaza, Campus Ave., Mckinley Hill, Pinagsama, City Of Taguig NAKANO, RINA Manager - Business Development Japanese Accounts 26.

Brief Job Description: The position is responsible for improving the organization’s market position among Japanese companies in the Philippines.

34.

35.

36.

27.

Brief Job Description: Operates an ATR aircraft for commercial flight

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

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

28.

29.

CRASTA, PRASHANT OLIVER Pilot

Basic Qualification: Licensed pilot

Brief Job Description: Operates an airbus aircraft for commercial flight

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

VIRK, AJAY JATINDER MOHAN Pilot

Basic Qualification: Licensed pilot

Brief Job Description: Operates an airbus aircraft for commercial flight

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

37.

30.

Brief Job Description: Responsible for making overall project planning

38.

COTECH CONSULTANCY CORP. 9/f 6780 Bldg., 6780 Ayala Ave., San Lorenzo, City Of Makati

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

HUANG, MEIJUN Gaming Support Specialist

39.

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

HUANG, YUJIAO Gaming Support Specialist

40.

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

JIAO, TENGFEI Gaming Support Specialist Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

JIN, HUABAO Gaming Support Specialist

42.

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

LI, WEIYANG Gaming Support Specialist

43.

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

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

HAN, JIFENG Gaming Support Specialist

CHINA CAMC ENGINEERING CO. LTD. PHIL BRANCH Unit 2104-a West Tower, Psec Exchange Road, Ortigas Ctr., San Antonio, City Of Pasig HU, ZHIWEI Deputy Project Manager

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

GAN, LIN Gaming Support Specialist

41.

Basic Qualification: Licensed pilot

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

CHENG, HONGDONG Gaming Support Specialist

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

SENNIAPPAN, DHANANJEYAN Pilot

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

CHEN, XINGXING Gaming Support Specialist

Basic Qualification: Must be a native Japanese speaker.

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

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

BU, LINGGANG Gaming Support Specialist

Basic Qualification: With knowledge in computer application Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Expert in Chinese language.

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

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

DATACLICK INTERNATIONAL CORP. E. Rodriguez St., Roxas Blvd. St., Barangay 3, Pasay City

Basic Qualification: Take the lead role with repairs Salary Range: Php 30,000 - Php 59,999

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

ZHU, YANBO Chinese Speaking Data Entry Clerk

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

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

Basic Qualification: Bachelor’s degree with experience in project management domain and in leading at least one project aspect.

HUANG, LIWEI Chinese Speaking Data Entry Clerk

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

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

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

Basic Qualification: College graduate, fluent in mandarin and English, 6 months - 1 year experience

Brief Job Description: Identify and assess customers’ needs to achieve satisfaction.

QUALIFICATION AND SALARY RANGE

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

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina

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

Basic Qualification: With Work Experience

31.

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIANG, TAO Chinese Customer Service Representative

BOTA ENTERTAINMENT CONSULTANCY SERVICES INC. Chuan Hong Tower Unit 602, 434 M. De Santos St., 025, Barangay 270, San Nicolas, City Of Manila

Basic Qualification: Foreign Language Speaking

Basic Qualification: College Graduate

No.

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

Basic Qualification: Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 500,000 and above

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

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

Brief Job Description: To provide accurate translation on meeting and with colleagues

Basic Qualification: Foreign Language Speaking

Basic Qualification: Foreign Language Speaking

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

BANGKOK BANK PUBLIC COMPANY LIMITED 10/f 25 The Enterprise Center, Tower 2 6766, Ayala Ave., San Lorenzo, City Of Makati

AMBICA INTERNATIONAL CORPORATION #9, Amsterdam Extension Merville Park Subd., Merville, City Of Parañaque KUMAR, VIVEK Biotech Marketing Manager

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

SAMAKOSES, VAROT Vice President & Branch Manager

ALAM FASHION PH INC. 3/f No.122, Ermin Garcia St., E. Rodriguez, Quezon City BUESS, ARTHUR Consultant

DANG QUANG TRUNG Vietnamese Customer Service Representative

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

AECOM PHILIPPINES, INC. 23f Fort Legend Tower, 3rd Ave. Cor 31st St., Bonifacio Global City, Fort Bonifacio, City Of Taguig HANUMANTHA RAO SEETHARAMAN Aa9 Tunnel Ventilation Expert (senior Consultant)

Brief Job Description: Managing incoming calls and customer service inquires

WANG, ZHENGGUO Translator

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong FUKUSHIMA, MIYUKI Mobilization Associate Manager

YANG, PING Chinese Customer Service Representative

Basic Qualification: Foreign Language Speaking

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

QUALIFICATION AND SALARY RANGE

ASUKI DEVELOPMENT & CONSTRUCTION MANAGEMENT INC. 25, Arty 1, 6, Talipapa, Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Foreign Language Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS

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

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

7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati DERMAWAN Bilingual Customer Service Manager

No.

www.businessmirror.com.ph

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

LI, ZHIYUAN Gaming Support Specialist

44.

Brief Job Description: Being the voice of our players within our fastgrowing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent communication skills in Chinese, both spoken and written.

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

Basic Qualification: Excellent communication skills in Chinese, both spoken and written.

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

Basic Qualification: Excellent communication skills in Chinese, both spoken and written.

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

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent communication skills in Chinese, both spoken and written.

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

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YU, YANG Gaming Support Specialist

45.

Brief Job Description: Being the voice of our players within our fast-growing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

ZHAO, JIARUI Gaming Support Specialist

46.

Brief Job Description: Being the voice of our players within our fast-growing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

ZHAO, YOULU Gaming Support Specialist

47.

Brief Job Description: Being the voice of our players within our fast-growing online/offshore gaming platform, stay on track with the game updates, implementing procedures to support players, work creatively across multiple projects and platforms at the same time.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written

No.

HAIRIYONO TANTOMI Customer Service Representative 60.

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

Basic Qualification: Excellent Communication Skills in Chinese Both Spoken and Written

61.

62.

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

48.

Brief Job Description: Manage incoming and outgoing calls, chats and emails NGUYEN THI HUONG Vietnamese Speaking Customer Service Representative

49.

Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to deal with

Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

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

MOSES HUANDI ERAWAN Customer Service Representative 63.

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

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

LORIS Customer Service Representative

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati LIU, HUI CHUN Mandarin Speaking Customer Service Representative

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

JENNY Customer Service Representative

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

Basic Qualification: Excellent communication skills in Chinese, both spoken and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

MUHAMMAD WAHYU SEPTIAN S Customer Service Representative 64.

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

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

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

LI, LI Marketing And Sales Agent 50.

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

LAI, HAO CHIEN a.k.a. ANDY LAI Senior Marketing Specialist 51.

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.

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

OU, WEIDONG Customer Service Representative 65.

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

QIN, XIAOJIN Customer Service Representative 66.

67.

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

52.

53.

Brief Job Description: Providing it assistance to staff and customers

MEIDIYANTI TJUNG Bilingual It Support Specialist Brief Job Description: Providing it assistance to staff and customers

Basic Qualification: Excellent in reading, writing and speaking bilingual languages

54.

Brief Job Description: Serve as the technical expert for detailed design and construction aspects of the project. Propose and oversee timelines for engineering proposals and submissions are met. Set up procedure and processes in monitoring and tracking of engineering related documentation throughout project lifestyle.

Basic Qualification: Excellent in reading, writing and speaking bilingual languages

55.

Brief Job Description: Responsible for managing technical issued on materials, equipment being used.

ROMI SAPUTRA Customer Service Representative 68.

69.

Basic Qualification: Ability to work in a highpressure, deadline-driven environment. Exceptional communication and reporting skills. Solid working knowledge in all required software and programming languages.

ZHAO, FANG Mandarin Customer Service 70.

56.

Brief Job Description: Responsible In Conducting Accurate Individual Verification Of The Details Provided By The Candidate With The Respective Source On A Timely Manner Within The Agreed Service Level Agreement

Brief Job Description: Serves customers by providing product and service information; resolving product and service problems

JIMMY FANG Chinese Speaking Admin Associate 71.

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

Brief Job Description: Prepare And Maintain Company Documents And Reports And Coordinate For Daily Administrative Reports

WANG, ZHE Purchase To Payment (PTP) Process Internal Control Manager 72.

Brief Job Description: Monitor the internal system of Huawei Philippines, ensure the implementation and localization of the business process are reasonable and efficiency

57.

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

EDY SUSANTO Customer Service Representative 58.

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

ERICK LUKITA Customer Service Representative 59.

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

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

MENG, DEHUI Chinese Speaking Sales Officer 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 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

No.

75.

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

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

ZHANG, SHENGHAI Mandarin Speaking Customer Service Representative 76.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

NANG HLAING MAI Myanmari Customer Support Representative 77.

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

NANG SENG KHAM Myanmari Customer Support Representative 78.

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

ZAW MIN OO Myanmari Customer Support Representative 79.

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

80.

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.

NGUYEN DO MINH THONG Vietnamese Customer Support Representative 81.

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

NGUYEN THI MAI GIANG Vietnamese Customer Support Representative 82.

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

PHAN THI NGOC THO Vietnamese Customer Support Representative 83.

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.

NGO THI HOAI Vietnamese Customer Support Representative

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

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

Basic Qualification: Proficiency In Handling Customer Question About Services Or Products Excellent Mandarin Communication Sills Salary Range: Php 30,000 - Php 59,999

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

TRAN VAN CHUNG Vietnamese Customer Support Representative 84.

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

VU NGOC ANH Vietnamese Customer Support Representative 85.

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

NGUYEN NHAT TRUONG Vietnamese Customer Support Specialist 86.

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

NGUYEN THI HOA Vietnamese Customer Support Specialist 87.

Brief Job Description: Research potential leads. Answers customers inquiry.

Works with sales team. Tracks performances and sales metrics. Meet sales quota and goals.

LI, XIAOHAN Senior Mandarin Speaking Sales Officer 74.

Brief Job Description: Motivates staffs to improve customer services. Designs and implements strategic plan to reach sales target.

Develops and promotes sales objectives. Works with customer to increase customer satisfaction.

Basic Qualification: Excellent verbal and written communication skills.

Basic computer skills and experience with tracking and records. Persuasive and goaloriented. Excellent customer care and focus.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Outstanding written and verbal communication skills. Knowledgeable in marketing techniques and best practices. Capacity to manage various projects and work to tight deadlines.

Excellent negotiation and leadership skills. Excellent customer care and focus.

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

INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit, A.p. Reyes Ave., Carmona, City Of Makati

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently.

Basic Qualification: Able to speak and write in BURMESE and at least college level with related BPO experience.

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

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

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

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

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

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

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

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

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

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

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

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg., Bradco Avenue Aseana Business Park, Tambo, City Of Parañaque

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

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

QUALIFICATION AND SALARY RANGE

INVECH TREASURE PROCESSING CORPORATION 3rd Floor, E Six West Campus Le Grand Avenue, Mckinley West,, Fort Bonifacio, City Of Taguig

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

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

CAI, SEN Customer Support Specialist 88.

HUAYI GLOBAL VISA INC. Unit No. C-118, Flr. No. Ground, Six Senses Residences Bldg., Metrobank Ave St., Metropolitan Park Subd., Barangay 76, Pasay City

FLYING DRAGON NETWORK PHILIPPINES INC. Ri Rance Ii Bldg., Block 2 Lot 3 Aseana City, Tambo, City Of Parañaque DENDY FIRNANDA ERKA PUTRA Customer Service Representative

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

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati

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

QUALIFICATION AND SALARY RANGE

GLADIOLOUS INC. Unit 25d 2/f Zeta Ii Bldg., Salcedo St., San Lorenzo, City Of Makati

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

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

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

A9

ESTABLISHMENT / ADDRESS

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

FIRST ADVANTAGE PHILIPPINES, INC. 7-8th Floor Kingston Tower, Acacia Avenue, Madrigal Business Park, Alabang, City Of Muntinlupa CHAMNIWANICHANAN, PATTRANAN Operations Associate

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

SONIA MONICA Customer Service Representative

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

FIBERHOME PHILS., INC. U-19d 19/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati DARREN TAN SHAN YAU Project Manager

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

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

ENERGY CHINA PHILIPPINES BRANCH OFFICE Unit 1718, High Street South Corporate Plaza Tower 1, Bonifacio Global, Fort Bonifacio, City Of Taguig FANG, TINGKUAN Chinese Technical Manager

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

RACHMAD CAESARIO BAGASKARA Customer Service Representative

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

LOH SAY KIT Bilingual It Support Specialist

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

Wednesday, June 29, 2022

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

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

LI, BO Customer Support Specialist 89.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

LI, YANG Customer Support Specialist 90.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

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

BusinessMirror

A10 A6 Wednesday, June 29, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LIU SAU CHANH Customer Support Specialist 91.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

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

NGUYEN TU LONG Customer Support Specialist 92.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

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

PENG, LI Customer Support Specialist 93.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

No.

WANG, JING Chinese Speaking Customer Relations Officer 104.

SAY PHAE PHAE Customer Support Specialist 94.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

105.

106.

107.

108.

109.

110.

111.

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

VO DUY TRUNG Customer Support Specialist 95.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

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

VUONG TU TRINH Customer Support Specialist 96.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service

Basic Qualification: Superior Customer Service Skills, Nice to Have Experience Working With Online Gaming/Offshore Gaming Industry or Less Experience but a Good Attitude and Motivation to Learn, Excellent Communication Skills in Chinese, Both Spoken and Written Salary Range: Php 30,000 - Php 59,999

ZHOU, CHENDONG Customer Support Specialist 97.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

112.

113.

114.

115.

116.

117.

118.

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

ZHOU, KUN Customer Support Specialist 98.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide world-class service.

Basic Qualification: Superior customer service skills, Nice to have experience working with online gaming/offshore gaming industry or less experience but a good attitude and motivation to learn, Excellent communication skills in Chinese, both spoken and written.

119.

120.

Salary Range: Php 30,000 - Php 59,999 LEXIGENT PRIME VENTURES INC. Level 40 Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati CAO, HUANHUAN Multilingual Business Processing Consultant 99.

Brief Job Description: provides extremely flexible web development services, from full stack solutions to updating existing content,

Basic Qualification: 18-55 y/o, with at least 6 months experience, with good oral and written Salary Range: Php 30,000 - Php 59,999

MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

100.

101.

102.

103.

HUANG, MINGDA Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service JING, XINKANG Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service VONG A PHUNG Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service WAN, FANGYAN Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

Basic Qualification: Can Speak Chinese/Mandarin Fluently Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can Speak Chinese/Mandarin Fluently Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can Speak Chinese/Mandarin Fluently Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can Speak Chinese/Mandarin Fluently

121.

122.

123.

124.

125.

126.

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

MF CONSULTANCY MANAGEMENT SERVICES INC. Unit 1001 10/f Antel 2000 Corporate Centre, 121 Valero St., Bel-air, City Of Makati

Brief Job Description: Deal directly with costumers either telephone, electronically or face to face.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Chinese speaking with excellent customer service and interpersonal skills.

127.

NANG HLAING HOM Burmese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NANG SENG MWE HLAING Burmese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NANG YAIE SAN HLAING Burmese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries SAI MYO MYINT TUN Burmese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries CHEN, JIANQIAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires KONG, DELONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LI, MINGLU Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LING, YONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LIU, HUICHUAN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries LU, LINHAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries MA, JIAQI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TAN, RONGYUN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires WANG, WENJIE Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires WU, CHUNLIANG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires XU, YUEDONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YAN, YONGCHAO Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YAO, QIANCHI Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires YAO, SHIJIN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ZHANG, CHENG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, YONGHONG Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ZHONG, YANNING Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DIAN Indonesian Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries HEMDY SETIAWAN Indonesian Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

No.

128.

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

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Superior Customer Service Skills, Nice to Have Experience Working With Online Gaming/Offshore Gaming Industry or Less Experience but a Good Attitude and Motivation to Learn, Excellent Communication Skills in Chinese, Both Spoken and Written

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

129.

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

130.

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

131.

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

132.

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

133.

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

134.

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

135.

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

136.

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

137.

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

138.

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

139.

140.

141.

142.

143.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JENNA CLAUDIA Indonesian Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries MARISSA RIA Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries RIANI TAN Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires BE THI TRANG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries CHAU NAM THANH Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DANG THI HUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DANG THI KEO Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires DANG THI TUYET MAI Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LE MINH HUNG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LE THI CHAM Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LE THI NHUNG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires LE VAN DIEP Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LE VU NHAT TAI Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries LY CAM SAU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN ANH DUONG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NGUYEN DINH HONG Vietnamese Customer Service Representative

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

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

NGUYEN DINH THONG Vietnamese Customer Service Representative

144.

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

Brief Job Description: Managing Incoming Calls and Customer Service Inquiries

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

NGUYEN KHAC MINH Vietnamese Customer Service Representative

145.

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

146.

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

147.

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

148.

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

149.

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

150.

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

151.

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

152.

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN THI XUAN HUONG Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NGUYEN TRONG TAI Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NGUYEN VAN CUONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires NGUYEN VAN VINH Vietnamese Customer Service Representative Brief Job Description: Managing Incoming Calls and Customer Service Inquiries NONG TIEN NHAT Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ON THI THUY Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TRAN CONG GIN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

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

153.

154.

155.

156.

157.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TRAN VAN LONG Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TRINH THI YEN NHI Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries TRINH VAN LUAN Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries VO THU BA Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries VU BA LAM Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

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

No.

171.

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

KAIHORI, SHUN Vice-president / Marketing Department 172.

TJU KIN LIONG Indonesian Language Customer Service Representative 158.

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

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

NCH CUSTOMER SUPPORT SERVICES, INC. Flr. No. 6/f, 7/f, Tower 3 West Bldg., Double Dragon Plaza, Edsa Ext. Cor. Macapagal Ave. St., Barangay 76, Pasay City

159.

160.

LE ROUX, STEPHANUS ABRAHAM Customer Support Advisor - German Agent

Basic Qualification: German language skills

Brief Job Description: Provide support services to clients

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

SPARROW, JUSTIN NATHAN Head Of European Sports

Basic Qualification: College degree or relevant experience

Brief Job Description: Analysis of sports markets and events

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

LU GIA MY Chinese Speaking Business Development Associate 161.

Brief Job Description: Assist/Help Customers, Give Customers Information About Product And Services

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

NEURONCREDIT FINANCING COMPANY INC. Unit 1005,1605 Centerpoint Bldg., Julia Vargas Corner Garnet Road, Ortigas Center, San Antonio, City Of Pasig SCHAMBERGER, PAVEL Head Of Underwriting Strategy And Data 162.

Brief Job Description: Manage and oversee bank onboarding and lending processes

Basic Qualification: 5+ years of credit experience in consumer finance Salary Range: Php 500,000 and above

173.

163.

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

LIU, CHENGWEI Chinese Customer Service

164.

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

WANG, SHIQIAN Chinese Customer Service

165.

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

KYAW SEIN Myanmari Customer Service

166.

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

Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language)

174.

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

NIKKEN LEASE KOGYO CO., LTD. Unit 6-c 6th Flr. Azure Business Center, 1197 Edsa, Katipunan, Quezon City

SHIMIZU, HIDETAKA Branch Manager 167.

Brief Job Description: a. Identify current and prospective sales and expansion opportunities.

Basic Qualification: Bachelor’s Degree; Preferably 5 years’ experience in dealing with executive level documents, transactions, and scheduling for Japanese officers.

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

175.

168.

Brief Job Description: Mr. Ding will be the technical project manager

Basic Qualification: Bachelor’s Degree; Excellent Communication Skills; Technical Expertise

169.

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

176.

FENG, HAOLIN Mandarin Technical Support 170.

Brief Job Description: Provide specialized services to assist end-users in technology needs

177.

186.

187.

Salary Range: Php 30,000 - Php 59,999 188.

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

189.

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

190.

Basic Qualification: Fluent in Mandarin and English Language Both oral and Written Salary Range: Php 90,000 - Php 149,999

191.

Basic Qualification: Master’s Degree, 10 years’ relevant experience, Certification on Lean/ 6 Sigma, UI/Path Solution Architect, Pega Robotics Architect, and Scrum Master

Brief Job Description: Handling customers, sales, warehouse inventories, receiving and dispatching.

192.

Salary Range: Php 150,000 - Php 499,999 193.

Basic Qualification: Skilled in business sales plan, warehousing purchases and delivery management.

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

194.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HOANG THI LAN Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and help resolve customer complaints.

LE THANH GIANG Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

LE THI GIANG Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and help resolve customer complaints.

NGUYEN THI HOAI VAN Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

NGUYEN VAN DAI Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

NGUYEN VAN KHANH Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

NGUYEN XUAN DU Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

PHAM THI THU THUY Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

QUAN KIEM LY Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

SKYLUSTER TECHNOLOGY, INC. 28/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati

178.

WANG, SHENGLONG Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer’s account information

Basic Qualification: Excellent oral and written communication in mandarin

195.

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

STC BUILDERS AND DEVELOPMENT CORP. 38 Atok St., 1, Santo Domingo, Quezon City

MOU, TIANYU Marketing Specialist 179.

Brief Job Description: Responsible for coordinating with other marketing and sales professionals to implement innovative campaigns for branding or product launches

Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills

196.

197.

TANG ANH TAM Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

TRAN TIEN DUNG Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

VO QUOC CHUNG Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and Help Resolve Customer Complaints

Salary Range: Php 30,000 - Php 59,999 VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St., 072, Barangay 669, Ermita, City Of Manila

180.

LE THI THUY It Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

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

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

198.

199.

VISSIONARIES INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati QIN, YAN Recruitment Marketing Specialist (Chinese Speaking) 181.

Brief Job Description: Assigned to the company for planning and implementing recruitment marketing strategy.

Basic Qualification: Can speak Chinese language and with extensive experience in recruitment marketing.

200.

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 CUI, JINGZHAI Bilingual Admin Support Specialist 182.

Brief Job Description: Handles administrative requests and queries from senior managers/officers PHILIP ARBERT Bilingual Technical Support Specialist

183.

Brief Job Description: Evaluates expansions or enhancements by studying work load capacity pf computer system

Basic Qualification: Excellent in speaking, reading and writing in bilingual languages

BOURIN, XAVIER Region Coordinator

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

Brief Job Description: • Executes regional strategy determined in collaboration with region lead.

• Markets Benefits Data Source on a cross-segment basis.

• Coordinates relationships with BENEFITS DATA SOURCE stakeholders. • Coordinates local country campaigns and projects with BENEFITS DATA SOURCE stakeholders and BENEFITS DATA SOURCE teams. • Supports team members in answering and resolving complex questions. • Reviews client deliverables for the team as needed. • Supports the continuous improvement of BDP content and data quality.

• Collects feedback on BENEFITS DATA SOURCE projects and tools from consultants/clients.

Basic Qualification: Excellent in speaking, reading and writing in bilingual languages Salary Range: Php 30,000 - Php 59,999

Basic Qualification: • Bachelor’s degree preferred.

• Proficiency in Microsoft Office (Word, Excel and PowerPoint); experience in databases would be an asset. • Keen attention to details and commitment to excellence. • Excellent written and verbal communication skills; ability to ask the right questions and seek help where appropriate.

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

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

185.

LEOW YI XIONG Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

201.

CAM BINH CUONG Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

CHANG QUY THANH Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

NGAN HUE BINH Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

TRUONG PHI Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

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

WILLIS TOWERS WATSON GLOBAL BUSINESS SERVICES, INC. 16/f Bonifacio One Technology Tower, 3030 Rizal Drive, West Corner 31st St., Fort Bonifacio, City Of Taguig

Basic Qualification: Can speak Mandarin

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

Brief Job Description: Responsible for leading a team of Process Automation Engineers in performing DevOps capability to build complex automation solutions. The role will own the solution design review/approval, conformance to the Automation Governance and Delivery Framework, and automation pipeline management

NARAYANASAMY, PRABHURAJ Manager

184.

Basic Qualification: Fluent in mandarin, both oral and written

Basic Qualification: Proficient in Japanese Language, in-depth Understanding of Marketing Principles and Strategies

SELF-GARMENTS TRADING CO. 4414, Bayview Drive, Tambo, City Of Parañaque

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

OCTAGON PRIME OUTSOURCING SERVICES INC. Ub 111 Paseo De Roxas Bldg., Paseo De Roxas, San Lorenzo, City Of Makati

Brief Job Description: With Extensive Background in Telecommunication Multinational Company

KUMAR, UJJWAL Process Automation Lead

OCEANIC SYMPHONY SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati CHAN MUN SHUAN Mandarin Accounts Staff

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

No.

QBE GROUP SHARED SERVICES LIMITED-PHILIPPINE BRANCH Net Cube Building, 3rd Avenue Corner 30th Street, E-square Zone, Crescent Park West, Bonifacio Global City, Fort Bonifacio, City Of Taguig

NOKIA SHANGHAI BELL PHILIPPINES, INC. Penthouse W Fifth Bldg., 5th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig DING, SHUANGSHUANG Optics TPM

Brief Job Description: With Extensive Background in Telecommunication Multinational Company XU, XINXIN Project Manager Assistant

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: With Extensive Background in Telecommunication Multinational Company XIE, ZHILI Administrative Specialist

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

Brief Job Description: Establish, implement and execute strategic marketing plans and forecasts

HE, MIAO Administrative Specialist

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque Basic Qualification: With At least 6 Months Customer Service Experience/Good In Oral Communication And Written

Basic Qualification: Fluent in mandarin, both oral and written

PRIMUS@KNOWLEDGE SPECIALISTS, INCORPORATED 3rd Flr. Oac Bldg., San Miguel Ave., Ortigas Center, San Antonio, City Of Pasig

MPOTECH DIGITAL SYSTEM INC. 47/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati Basic Qualification: Graduate 4 Years Bachelor Degree With Critical Thinking and Problem Solving Skills

Brief Job Description: Provide specialized services to assist end-users in technology needs

QUALIFICATION AND SALARY RANGE

PGA SOMPO INSURANCE CORPORATION Corinthian Plaza, Paseo De Roxas, San Lorenzo, City Of Makati

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HE, LU Mandarin Technical Support

Wednesday, June 29, 2022

Basic Qualification: Excellent in Foreign Language Speaking Salary Range: Php 30,000 - Php 59,999

202.

VONG CHAN MUI Vietnamese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

QUALIFICATION AND SALARY RANGE Basic Qualification: Proficient in speaking, reading and writing in Vietnamese.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Vietnamese.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in Speaking , Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Vietnamese Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jun 28, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on Jun 21, 2022, the name of PAN, MEI-RONG under JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC., should have been read as PAN MEI-RONG and not as published.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on Jun 22, 2022, the name of HOANG VAN NGOC under MOA CLOUDZONE CORP., should have been read as HOANG VAN NGOC and not as published.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on Jun 22, 2022, the name of BAO NHIT PHONG under NEW ORIENTAL CLUB88 CORPORATION, should have been read as BAO NHIT PHONG and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at 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.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A11

A12 Wednesday, June 29, 2022

The World BusinessMirror

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

Nato to boost rapid reaction force, Ukraine military support

By Samuel Petrequin The Associated Press

B

RUSSELS—Nato allies will decide at a summit this week to increase the strength of their rapid reaction force nearly eightfold to 300,000 troops as part of their response to an “era of strategic competition,” the militar y alliance’s secretary-general said Monday.

The Nato response force (NRF) currently numbers around 40,000 soldiers that can deploy quickly when needed.

Coupled with other measures including the deployment of forces to defend specific

allies, Nato Secretar y-General Jens Stoltenberg said the move is part of the “biggest overhaul of collective defense and deterrence since the Cold War.” “These troops will exercise together with home defense forces,” Stoltenberg said. “And they will become familiar with local terrain, facilities, and our new prepositioned stocks. So that they can respond smoothly and swiftly to any emergency.”

In response to the Kremlin’s decision to start the war, US President Joe Biden and his Nato counterparts agreed in February to send thousands of troops, backed by air and naval support, to protect allies

near Russia and Ukraine. The 30-nation organization decided at the time to send parts of the NRF and elements of a quickly deployable spearhead unit to the alliance’s eastern flank, marking the first time the force had been used in a defense role.

Stoltenberg made the remarks at a press conference ahead of a Nato summit this week in Madrid when the 30 allies are expected to also agree on further support to Ukraine in its war against Russia.

Stoltenberg said he expects allies to make clear they consider Russia “as the most significant and direct threat to our security.” At the summit, allies will also

decide to strengthen their battlegroups on Nato’s eastern flanks, he said.

In Nato’s new strategic concept, the alliance is also set to address for the first time the security challenges posed

by China, Stoltenberg said. In Madrid, allies will discuss how to respond to the growing influence of Russia and China in their “southern neighborhood,” he added.

Stoltenberg said allies will agree to deliver further military support to Ukraine when they convene in Spain, with Nato members set to adopt a “strengthened comprehensive assistance package,” including deliveries of secure

communication and anti-drone systems.

Over the long term, Stoltenberg said allies aim to help Ukraine transition from Soviet-era armaments to modern Nato equipment. The world’s seven leading economic powers underscored Monday their commitment to Ukraine for “as long as it takes.”

Another central theme at the Nato summit will be the possibility for Finland and Sweden to join the alliance following Russia’s invasion of Ukraine.

Nato member Turkey has so far blocked the applications, citing what it considers to be the two countries’ soft approach

to organizations Turkey considers to be terrorist, such as the Kurdistan Workers’ Party, or PKK. Stoltenberg said that Turkish president Turkish President Recep Tayyip Erdogan, Finnish President Sauli Niinisto and the Swedish prime minister Magdalena Andersson have agreed to meet Tuesday on the sidelines of the summit.

Officials from the three countries have stepped up talks ahead of the Nato gathering in a bid to break the deadlock.

Jan M. Olsen in Copenhagen contributed to this report.

www.businessmirror.com.ph

The World BusinessMirror

Wednesday, June 29, 2022 A13

Russian missile strike hits crowded shopping mall in Ukraine; 18 killed

By Francesca Ebel & Yuras Karmanau

German Chancellor Olaf Scholz, center, stands between from foreground left, Emmanuel Macron, President of France, Macky Sall, President of Senegal, Joko Widodo, President of Indonesia, and US President Joe Biden for a group photo with the outreach guests, at the G-7 summit, in Kruen, Germany, on Monday, June 27, 2022. The Group of Seven leading economic powers are meeting in Germany for their annual gathering Sunday through Tuesday.

Michael Kappeler/Pool Photo via AP

G-7 leaders wrap up summit meant to strengthen support for Ukraine

By Zeke Miller & Geir Moulson

The Associated Press

E

LMAU, Germany—The Group of Seven developed economies on Tuesday wraps up a summit intended to send a strong signal of long-term commitment to Ukraine’s future, ensuring that Russia pays a higher price for its invasion while also attempting to alleviate a global hunger crisis and show unity against climate change.

The leaders of the US, Germany, France, Italy, the UK, Canada and Japan on Monday pledged to support Ukraine “for as long as it takes” after conferring by video link with Ukrainian President Volodymyr Zelenskyy.

The summit host, German Chancellor Olaf Scholz, said he “once again very emphatically set out the situation as Ukraine currently sees it.” Zelenskyy’s address, amid a grinding Russian advance in Ukraine’s east, came hours before Ukrainian officials reported a deadly Russian missile strike on a crowded shopping mall in the central city of Kremenchuk.

Officials have said during the summit that leaders of the major economies are preparing to unveil plans to pursue a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions.

From the secluded Schloss Elmau hotel in the Bavarian Alps, the G-7 leaders will continue straight to Madrid for a summit of

Nato leaders—where fallout from Russia’s invasion of Ukraine will again dominate the agenda. All G-7 members other than Japan are Nato members, and Japanese Prime Minister Fumio Kishida has been invited to Madrid.

Zelenskyy has openly worried that the West has become fatigued by the cost of a war that is contributing to soaring energy costs and price hikes on essential goods around the globe. The G-7 has sought to assuage those concerns.

While the group’s annual gathering has been dominated by Ukraine and by the war’s knock-on effects, such as the challenge to food supplies in parts of the world caused by the interruption of Ukrainian grain exports, Scholz has been keen to show that the G-7 also can move ahead on pre-war priorities.

The summit host has been keen to secure agreement on the creation of a “climate club” for countries that want to speed ahead when it comes to tackling global warming.

After a meeting Monday with leaders of five developing nations, a joint statement issued by Germany emphasized the need to accelerate a “clean and just energy transition” that would see an end to the burning of fossil fuels without causing a sharp rise in unemployment.

In the cautiously phrased statement, the leaders tentatively endorsed the global “climate club” idea.

Moulson reported from GarmischPartenkirchen, Germany.

Officials: US sending advanced missile systems to Ukraine

By Lolita C. Baldor The Associated Press

W

ASHINGTON—The US is planning to buy and send more medium- to long-range missile systems to Ukraine, a move officials hope will help Ukrainian forces hold onto the last remaining segments of land in the eastern Donbas that Russia has not yet been able to capture.

A senior defense official said Monday that Ukrainian forces are already effectively using advanced rocket systems, and that more of those will go into Ukraine with trained troops soon. A new plan for the US to buy and send NASAMS, an advanced surface-to-air missile system, to Ukraine, is also in the works and would add to its longer-range rocket and missile strike capabilities.

President Joe Biden is expected to announce soon that the US is purchasing NASAMS, a Norwegian-developed antiaircraft system, to provide medium- to long-range defense for Ukraine, according to an administration official familiar with the matter. NASAMS is the same system used by the US to protect the airspace around the White House and Capitol in Washington.

Both the defense official and the administration official spoke on condition of anonymity to discuss US military assessments and plans that have yet to be announced.

Russia has been mounting an all-out assault on the last Ukrainian stronghold

in the eastern Luhansk region—the city of Lysychansk—from the ground and air, the local governor said Monday. Luhansk Gov. Serhiy Haidai said Russian forces were pummeling Lysychansk after capturing the neighboring city of Sievierodonetsk in recent days.

It’s part of a stepped-up Russian offensive to wrest the broader Donbas region from Ukrainian government control in what Western experts say has become the new main goal of President Vladimir Putin’s war in Ukraine, now in its fifth month.

The defense official said the US continues to see morale and other command and control problems among the Russian forces, and that some local Russian officials in Ukraine have been assassinated in recent days.

The US has sent four High Mobility Artillery Rocket Systems, or HIMARS, into Ukraine, which already are being used.

Four more will go in soon.

Officials said the US also expects to send additional aid soon, including more ammunition for Ukrainian artillery, as well as counter-battery radars, to help counter the Russian assault in the Donbas.

The administration official said Biden is also announcing a $7.5 billion commitment to help Ukraine’s government meet its expenses, as part of a drawdown of the $40 billion military and economic aid package he signed into law last month.

The Associated Press writer Zeke Miller in Elmau, Germany, contributed to this report.

K

The Associated Press

REMENCHUK, Ukraine— Rescuers searched through charred rubble of a shopping mall Tuesday looking for more victims of a Russian missile strike that killed at least 18 and wounded scores in what Ukraine’s president called “one of the most daring terrorist attacks in European history.”

President Volodymyr Zelenskyy said many of the more than 1,000 afternoon shoppers and workers inside the mall in the city of Kremenchuk managed to escape. Giant plumes of black smoke, dust and orange flames billowed from the wreckage as emergency crews combed through broken metal and concrete for victims. Drones whirred above, clouds of dark smoke still emanating from the ruins several hours after the fire was extinguished.

Casualty figures rose as rescuers sifted through the smoldering rubble.

The regional governor, Dmytro Lunin, said at least 18 people were killed and 59 others sought medical assistance, of whom 25 were hospitalized. The region declared a day of mourning Tuesday for the victims of the attack.

“We are working to dismantle the construction so that it is possible to get machinery in there since the metal elements are very heavy and big, and disassembling them by hand is impossible,” said Volodymyr Hychkan, an emergency services official.

At Ukraine’s request, the UN Security Council scheduled an emergency meeting in New York on Tuesday to discuss the attack.

In the first Russian government comment on the missile strike, the country’s first deputy permanent representative to the United Nations, Dmitry Polyansky, alleged multiple inconsistencies that he didn’t specify, claiming on Twitter that the incident was a provocation by Ukraine. Russia has repeatedly denied it targets civilian infrastructure, even though Russian attacks have hit other shopping malls, theaters, hospitals, kindergartens and apartment buildings in the four-month war.

On Tuesday, Russian forces struck the Black Sea city of Ochakiv in the Mykolaiv region, damaging apartment buildings and killing two, including a 6-year-old child. A further six people, four of them children, were wounded. One of them, a 3-month-old baby, is in a coma, according to local officials.

The missile strike on Kremenchuk occurred as Western leaders pledged continued support for Ukraine and the world’s major economies prepared new sanctions against Russia, including a price cap on oil and higher tariffs on goods. Meanwhile, the US appeared ready to respond to Zelenskyy’s call for more air defense systems, and NATO planned to increase the size of its rapid-reaction forces nearly eightfold—to 300,000 troops.

Zelenskyy said the mall presented “no threat to the Russian army” and had “no strategic value.” He accused Russia of sabotaging “people’s attempts to live a normal life, which make the occupiers so angry.”

In his nightly address, he said it appeared Russian forces had intentionally targeted the shopping center and added, “Today’s Russian strike at a shopping mall in Kremenchuk is one of the most daring terrorist attacks in European history.” He said Russia “has become the largest terrorist organiza-

tion in the world.”

Russia has increasingly used longrange bombers in the war. Ukrainian officials said Russian Tu-22M3 longrange bombers flying over Russia’s western Kursk region fired the missiles, one of which hit the shopping center and another that struck a sports arena in Kremenchuk.

The Russian strike echoed earlier attacks that caused large numbers of civilian casualties—such as one in March on a Mariupol theater where many civilians had holed up, killing an estimated 600, and another in April on a train station in eastern Kramatorsk that killed at least 59 people.

“Russia continues to take out its impotence on ordinary civilians. It is useless to hope for decency and humanity on its part,” Zelenskyy said.

The United Nations called the strike “deplorable,” stressing that civilian infrastructure “should never ever be targeted,” UN spokesman Stephane Dujarric said. Group of Seven leaders condemned the attack in a statement late Monday saying “indiscriminate attacks on innocent civilians constitute a war crime. Russian President Putin and those responsible will be held to account.”

The attack coincided with Russia’s all-out assault on the last Ukrainian stronghold in eastern Ukraine’s Luhansk province, “pouring fire” on the city of Lysychansk from the ground and air, according to the local governor. At least eight people were killed and more than 20 wounded in Lysychansk when Russian rockets hit an area where a crowd gathered to obtain water from a tank, Luhansk Gov. Serhiy Haidai said.

The barrage was part of Russian forces’ intensified offensive aimed at wresting the eastern Donbas region from Ukraine. Over the weekend, the Russian military and their local separatist allies forced Ukrainian government troops out of Lysychansk’s neighboring city, Sievierodonetsk.

To the west of Lysychansk on Monday, the mayor of the city of Sloviansk—potentially the next major battleground—said Russian forces fired cluster munitions, including one that hit a residential neighborhood. Authorities said the number of victims had yet to be confirmed. The Associated Press saw one fatality: A man’s body lay hunched over a car door frame, his blood pooling onto the ground from chest and head wounds.

The blast blew out most windows in the surrounding apartment blocks and the cars parked below, littering the ground with broken glass.

“Everything is now destroyed,” said resident Valentina Vitkovska, in tears as she spoke about the blast. “We are the only people left living in this part of the building. There is no power. I can’t even call to tell others what had happened to us.”

The Russian forces also pummeled other Ukrainian cities, killing at least five people and wounding 15 others in Kharkiv, Ukraine’s second-largest city and striking the key southern Black Sea port of Odesa where a missile attack destroyed residential buildings and

wounded six people, including a child, according to Ukrainian authorities.

In Lysychansk, at least five highrise buildings and the last road bridge were damaged over the past day, Haidai said. A crucial highway linking the

city to government-held territory to the south was rendered impassable.

Karmanau reported from Lviv, Ukraine. Oleksandr Stashevskyi in Kyiv, Ukraine, contributed to this report.

A14 Wednesday, June 29, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Banana exporters losing market share

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he conflict in Eastern Europe is not only making it more difficult for food manufacturers to source raw materials such as wheat, but it is also posing challenges to Philippine banana exporters. As Russia has shuttered its borders following its invasion of Ukraine, sellers of bananas particularly from Latin America have been forced to look for other buyers in the world (See, “War to heat up fight for key banana markets,” in the BusinessMirror, June 9, 2022). This has prompted banana exporters from Latin America to target other markets, including countries where the Philippines used to dominate.

The attack on Ukraine happened amid efforts of the government and our banana exporters to raise the buying price of the fruit in Japan, a major buyer of Philippine bananas. The price increase is warranted given the surge in production costs incurred by local banana growers. Producers belonging to the Pilipino Banana Growers and Exporters Association (PBGEA) noted that they have seen an “unprecedented” increase in key inputs, such as fertilizers, which rose by 100 percent, and maritime freight that surged by more than 100 percent due to the global shortage of containers (See, “As costs rise, PHL exporters eye Japan banana price hike,” in the BusinessMirror, November 16, 2021).

The government of Ecuador, the world’s top banana exporter and a competitor of the Philippines, has earlier pledged to “defend” Ecuadorian producers and exporters. Even before the closure of the Russian market because of the war, Ecuador has offered to help its farmers by offering to buy bananas from small producers in 2020. It made the offer following the collapse in prices in China and Russia, two of Ecuador’s major banana buyers.

While the Philippines remains as the world’s second-largest exporter of bananas, other emerging contenders are nipping at its heels and are threatening to dislodge the country from its current status. Maintaining this status is not just about the bragging rights for the Philippines; it is the struggle to retain its market share amid the challenges facing the sector. The impact of a lower market share would be felt most by local growers who are struggling to earn enough amid the rise in production costs and the acceleration in the prices of basic commodities.

The Philippine government should defend its banana exporters and arm them with the necessary ammunition to fight other contenders eyeing our top markets. These include assistance in defeating Panama disease, which can devastate banana farms and slash output, as well as the provision of subsidies that will allow farmers to cope with the spike in input and transportation costs. A price war is now being waged by exporters that need to sell their produce, even at below-cost prices, instead of allowing the fruits to rot.

The Food and Agriculture Organization’s preliminary report titled “International Trade Banana” showed that Philippine banana exports last year reached 2.529 MMT, 33.58 percent lower than the 3.808 MMT the country shipped in 2020. Without timely government assistance to our producers, shipments could decline, threatening the chances of Philippine exporters to retain existing Philippine banana markets.

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Entrepreneurs’ Footprints

P

URPOSE has become a buzzword in the modern context where every person and organization is seemingly willing to find it within its core. Thanks to the science that articulated the evidences that sensemaking is deeper than simply making sense and that the art of sustainability is not about profit bottom-line but about greater purpose. Even the language of quality has shifted to look not on what is put in a product or service but on what the customers get out of it. The concept of customers expanded to include internal customers where the second bottom-line is its people. And it expands to cover the third bottom-line to include even the planet.

The triple bottom-line proposition results to a challenging role of business in ensuring balance and blend of these Ps, namely profit, person and planet. Profit bottomline covers economic variables reflected in the cash flow and financial wellness of the business.

People bottom-line refers to the

social variables dealing with communities within and around the business, the social resources, including the education, equity, health, well-being and the quality of life of persons in and around the business. Planet bottom-line covers the environmental variables relating to natural resources, water and

The millennial and Gen-Z markets are demonstrating bias towards those businesses taking the role as agent of world benefit.

The businesses are forced to transform to do good by doing well and the entrepreneurs to evolve as inno-preneurs and social entrepreneurs. air quality, energy conservation and land use.

The sustainability model offered by the Triple Bottom-line, conceptualized by John Elkington in 1994, proposes people development that is bearable to the planet, profit that will contribute to the viable planet and profit that will achieve equitable people.

Quintuple bottom-line expands the triple bottom-line to include financial stability and ethico-morallegal sensitivity. It posits to deliver environmental sustainability, social equity, economic prosperity and cultural vitality.

The millennial and Gen-Z mar-

There is no pride on a dead planet Dennis Gorecho

Lourdes M. Fernandez

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Dr. Carl E. Balita

T. Anthony C. Cabangon

Senior Editors

Creative Director Chief Photographer

Business as agent of world benefit

Kuwentong Peyups

‘T

here is no pride on a dead planet.” Thus says a poster by Greenpeace that I saw last Saturday during the celebration of Pride month in Pasay City, carrying with them the iconic rainbow flag interposed with their peace signage.

“Climate justice is queer justice.

Our fight must go beyond the usual “green”; rather, it should be multiperspective and multi-colored. At the end of the day, we all deserve to live on an Earth we can be proud of, where we don’t have to wait for the rain just to see the rainbow,” Greenpeace said in a statement.

Pride Month commemorates the 1969 Stonewall riots in Manhattan, New York where LGBTQ+ individuals protested against police harassment and persecution commonly experienced by the community.

I covered Greenpeace in the mid1990s when I was still connected with a major newspaper where I was assigned on the environment beat.

Climate change at that time was already one of their campaigns.

Climate change is driven by factors such as changes in the atmospheric concentration of greenhouse gases and aerosols, land cover and radiation, and their combinations, which then result in what is called radiative forcing (warming and cooling effect).

The Philippines is already in the path of major weather disturbances that damage property and critical infrastructure.

Climate change is expected to lead to more intense typhoons, higher sea levels, and storm surges.

Storm surges are projected to affect about 14 percent of the popula-

Greenpeace said that the fight for genuine climate justice intersects with queer justice. Climate action and policy must be inclusive, it said, adding that the connection of the climate struggle with the liberation of various minority groups from outdated systems must be recognized. tion and 42 percent of coastal populations. These weather patterns frequently jeopardize the welfare of communities in high-risk areas.

Greenpeace said that the fight for genuine climate justice intersects with queer justice.

Climate action and policy must be inclusive, it said, adding that the connection of the climate struggle with the liberation of various minority groups from outdated systems must be recognized.

Climate change can only be addressed through a vibrant democracy where communities play a key role in policy—and decision-making—regardless of region, class, or gender.

The LGBTQIA+ community is considered one of the strongest allies of the climate movement—a community that knows what it means

kets are demonstrating bias towards those businesses taking the role as agent of world benefit. The businesses are forced to transform to do good by doing well and the entrepreneurs to evolve as inno-preneurs and social entrepreneurs.

The 50 percent top 100 economies are businesses. In effect, business moves the world. We have witnessed how businesses innovate to regenerate the world. We have seen how entrepreneurial forces have contributed to solve social problems. We have admired businesses that harness the power of humanity to heal diseases and manage global health.

We have noticed how businesses have empowered women, youth and the differently-abled.

Intrinsic to the juridical personality of corporation is its social roles that give citizenship rights that allow it to exercise its social rights, as a provider of goods and services; its civil rights, as enabler; as well as its political rights as a channel of resources and influence.

Given corporate citizenships, the See “Balita,” A15

to liberate themselves from oppressive practices and give voice to the vulnerable.

Greenpeace calls for the government to enact policies that promote inclusivity and reject discrimination, such as the long-debated Sexual Orientation and Gender Identity Expression Equality (SOGIE) Bill.

In her virtual speech, reelected opposition Senator Risa Hontiveros said that she will push anew for the passage of the bill, as its principal author and sponsor, which seeks to ban discrimination based on an individual’s SOGIE. The bill lists the practices to be considered discriminatory and unlawful, which include the denial of rights to LGBTQ+ community on the basis of their SOGIE, such as their right to access public services, right to use establishments and services including housing, and right to apply for a professional license, among others.

The bill also deems as discriminatory the differential treatment of an employee or anyone engaged to render services, denial of admission to or expulsion from an educational institution, refusal or revocation of accreditation to any organization due See “Gorecho,” A15

Opinion BusinessMirror

www.businessmirror.com.ph

Wealth tax to save the nation Dr. Rene E. Ofreneo

LABOREM EXERCENS Part One

O

utgoing Finance Secretary Carlos Dominguez has openly voiced the need for the incoming Marcos administration to raise new taxes and postpone the scheduled tax reductions for certain categories of income earners. Under its “fiscal consolidation” blueprint, the Department of Finance (DOF) is urging the next administration to expand the value-added tax base, impose VAT on digital service providers, impose excise tax on motorcycles, repeal the excise tax exemptions of pick-ups, and so on and so forth.

The DOF message is clear: more borrowing is not a viable option. The national debt, close to P13 trillion, is truly alarming. Every Filipino— young and old—is now indebted by around P117,000. The debt-to-gross domestic product ratio is also headed towards the 70 percent level, or 10 percent above the globally-accepted standard of the maximum level of debt sustainability.

Thus for the DOF, the sensible way forward is for the next administration to impose more taxes, strengthen tax collection and “control spending.” The fiscal situation is dire.

But can the Marcos administration afford to impose new taxes, especially VAT and excise taxes on goods and services consumed by ordinary Filipinos who are already reeling from the raging stagflation (inflation + depressed demand + unemployment + underemployment)?

Can the government resort to stringent austerity measures when the times call for more stimulus spending to rev up the economy and provide amelioration assistance to the impoverished millions who gifted Ferdinand Marcos Jr. with a landslide victory?

Are there options other than more borrowings and more VAT and excise taxes?

There is: Impose wealth tax on society’s most capable. In fact, wealth tax has become a prominent topic in global economic forums. Heavilyindebted countries that have been weakened by the Covid pandemic are being urged to enact wealth tax laws to enable their governments to address the cost of the pandemic and nurse their economy back to health.

More borrowing and more taxes only contribute to the deepening of their debt-economic crisis.

Unfortunately, wealth taxation was not given enough attention under the Duterte administration. It was not included in the congressional hearing agenda. The DOF itself has been evasive about it, even dismissing the idea of wealth taxation as contractionary for the economy.

It will do the country good if the Marcos administration and his economic team can take a deeper look on the pros and cons of wealth taxation and its role as the alternative solution to the fiscal nightmare. Below is a short overview of the global discourse on wealth tax and a summary

Balita. . .

continued from A14

business enterprises need to be good neighbor within the host community. Hence, the emergence of Corporate Social Responsibility, which refers to the transparent business practices that are based on ethical values, compliance with legal requirements, and respect for people, communities and environment. CSR mandates, in Carroll’s assertion, the economic responsibility to be profitable, which is the foundation upon which other responsibilities rest.

It imposes legal responsibilities to obey the law, which is perceived as society’s codification of right and wrong. CSR also enforces ethical responsibilities, which imposes the obligation to do what is right, just and fair. And in its peak is philanthropic responsibility to be good corporate citizens by improving

of wealth tax proposals advanced by concerned CSOs.

IMF pushes wealth tax to address Covid and inequality

The global discourse on wealth tax as an alternative fiscal measure received a boost from the world’s leading creditor, the International Monetary Fund. In April 2021, at the height of the Covid pandemic, a revisionist IMF formally called for governments to consider imposing higher taxes on the wealth of the rich to cover the cost of the pandemic and economic recovery. The fiscal affairs department of the IMF recommended a temporary or one-off tax on high incomes to meet crisis-related financial costs.

IMF Managing Director Kristalina Georgieva, who gave full support to the above recommendation, raised another argument why the enactment of wealth tax is needed. Since her appointment as MD in 2019, she has been harping on the importance of closing the growing gap between the rich and the poor across the globe and within countries.

In one of her earlier commentaries on inequality, she wrote: “Inequality of opportunity. Inequality across generations. Inequality between women and men. And, of course, inequality of income and wealth.

They are all present in our societies and—unfortunately—in many countries they are growing.”

Further, she wrote that “tackling inequality requires a rethink” and adoption of difficult “reform” measures. One of these measures is “progressive taxation,” which promotes greater equity without sacrificing growth and productivity of a nation.

Progressive versus regressive taxation and IMF somersault

The above IMF “rethink” brings us to the age-old debate on progressive versus regressive taxation.

The idea of levying higher taxes on the more capable members of society is not new. A number of welfare states in Western Europe rapidly developed after World War II by embracing Keynesian economics, social welfarism and instituting progressivity in taxation. The higher the income or wealth of a person or a family, the higher the tax.

The problem is that the opposite quality of life.

Business benefits from corporate citizenships in many areas. Its reputation, competitiveness, and the market positioning derived from the goodness create good humaninterest stories for customer patronage (which should only be secondary to its authentic intention and purpose). The social media provide a powerful platform for these narratives. Corporate citizenship also contributes positively to employee recruitment, motivation, and retention, especially among the younger generation whose patronage for goodness is high. Its sustainability proposition attracts investor’s relations and access to capital. Learning and innovations are also nurtured positively from the positive environment that corporate citizenship creates. There is also a remarkable operational efficiency that could come as a blessing from corporate citizenship.

of progressive taxation—regressive taxation—has become the reality in most countries. Economic elites, who dominate the political system and who determine taxation policies, are naturally averse to progressive or “socialistic” taxation measures. Thus, instead of favoring direct taxes on incomes and wealth, they promote indirect taxes that usually come in the forms of VAT and excise taxes on consumption goods and services. Most of these goods and services happen to be those consumed daily by ordinary people, such as food, fuel, medicine, household needs, transport service, various services and so on. Since the ordinary people (wage earners, farmers, home-based workers and other marginalized sectors) constitute the overwhelming majority of society, they shoulder most of the tax burden under the indirect system. This, in brief, is the picture of regressive taxation system, which obtains in the Philippines and many developing economies.

To a great extent, the IMF itself is guilty of promoting regressive taxation and economic inequality in debtor countries like the Philippines. In the 1980s-2000s, the IMF included the VAT system (dubbed as part of the “tax reform”) as part of the package of policy conditionalities imposed on the Philippines and other heavily-indebted countries. The bias in support of indirect taxes on goods was reinforced by the notion that reducing the tax burden of the rich makes the latter more likely to invest on new productive facilities and create more jobs. This supply-side labor-tax economics has become part of the Washington Consensus development framework. This neo-liberal thinking is obviously a formula for greater inequality in society and yet it is rationalized as the solution to lack of growth in a developing economy.

In recent years, this supply-side economics has spurred a new type of competition among investmenthungry countries: to get more investments, host countries should reduce the taxes of the big corporations, especially of the multinationals. This rationale was openly articulated by the DOF when it pushed for the passage of the CREATE law aimed at reducing, progressively, the corporate income tax (CIT). Less taxes for the rich, more jobs for the poor. This raceto-the-bottom (R2B) thinking is similar to the old World Bank thinking that lower wages mean more investments. Hence, the inclusion of “wage restraint” in the IMF-WB package of “structural adjustment” measures in the 1980s.

Global response to wealth tax

Now, back to the IMF proposal for emergency tax on the wealthy. What is the global response?

The OECD and EU have joined the IMF in the call for wealth tax, mainly in the form of a one-off hefty tax on assets of the rich. They are asking energy companies who are making sky-high profits from sky-high energy prices to support people hurt by the rising energy bills. In relation to this, some countries like Italy have There is also an emergence of the concept of social enterprises, which form part of a business revolution that blends profit and social benefit. Social enterprises are businesses with primary social objectives whose surpluses are principally re-invested for that purpose in the business or in the community, rather than being driven by the need to maximize profit for shareholders and owners.

For the world to benefit from the social benefits of business, there is a need to put the spotlight on the local, regional and global achievements in these areas. Storytelling about them will amplify their influence and hopefully will increase patronage, bringing greater business and social values. There should be a more collaborative sharing of the learned lessons among these social entrepreneurs, advocates, and champions. Networking them together will lead to their synergis-

It will do the country good if the Marcos administration and his economic team can take a deeper look on the pros and cons of wealth taxation and its role as the alternative solution to the fiscal nightmare. A win-win approach is to explain to the wealthy that wealth taxes save the poor and the rich alike. imposed a windfall tax on windfall profits.

There is also a faction of the world’s one percent that has been asking governments to tax them to enable society to weather the crisis.

In 2020, at the first year of the pandemic, over 80 millionaires from America, Europe and Australia-New Zealand formed “Millionaires for Humanity” and issued an open letter addressed to governments and “fellow citizens of the world,” with the following call: “Tax us” to “rebalance” and “heal” the world. The group includes the likes of Abigail Disney, film producer and heiress of the Disney business empire; John Farrell, an Irish IT venture capitalist active in Silicon Valley; Sir Stephen Tindall, founder of New Zealand’s biggest retailer Warehouse Group; and Morris Pearl, the former managing partner of Blackrock, the world’s biggest money manager.

In several countries around the

world, there are also debates on the necessity of having a wealth tax. In the US, Senators Bernie Sanders and Elizabeth Warren have been pushing for a wealth tax since the 20082010 global financial crisis. Joseph Stiglitz, Thomas Piketty and other progressive economists have also come out in support of wealth tax as an instrument to raise needed stimulus funds, infuse more dynamism in the economy and close income gaps.

However, most governments, dominated by the wealthy politicians, have managed to transform the debates into endless and unresolved ones. During the pandemic years 2020-2021, even UN Secretary General Antonio Guterres openly asked governments to consider the wealth tax as a solution to counter the Covid-triggered recession. And yet, it was only debt-stricken Argentina that responded positively by imposing a wealth tax on Argentina’s wealthiest in response to the Covid crisis.

Response in the Philippines

The response to the wealth tax tic co-existence. We should be able to magnify this model to spark inspiration.

With business as the number one higher education course and biggest population in higher education, both in undergraduate and graduate levels, among 15,000 schools all over the world, education is key in this entrepreneurial revolution.

And with some 125 business leaders mentoring employees every single day, the hope is high that business is a formidable force in bringing social benefits that were less spoken before. The pandemic has incited the humanistic philosophies of many entrepreneurs wanting positive change. Indeed, every generation needs a revolution. In our age, entrepreneurial revolution towards social benefit is a must.

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

Wednesday, June 29, 2022 A15

proposal by the Philippines’s rich and famous is a deafening silence.

Not a word from them, despite the report from Forbes magazine that the wealth of the super-rich soared by 30 percent in 2020; this, at a time when the overwhelming majority of Filipinos, from the unemployed and informal workers to the owners of micro, small and medium enterprises, were all knocked down by the pandemic, due largely to the harsh and prolonged lockdowns declared by the Duterte administration. The Philippine Statistics Authority said poverty and misery deepened nationwide. But not for the rich and famous, whose wealth in stocks, land and other assets kept growing. This is especially true for taipans who control critical industries such as telecoms, power, pharma and food importation and distribution industries.

The silence of the rich and famous has been complemented by the silence of government officials, from the executive and legislative branches, on whether to tax or not the rich and famous. In fact, at the height of the pandemic, Congress and Malacañang ironically pushed for the passage of the CREATE law, which reduces the corporate income tax of the multinationals and big corporations. This law was obviously inspired by the questionable supply-side thinking that less taxes for the rich corporations means more investments and jobs for the nation.

Today, the government has very little to report on the success of CREATE in generating such investments and jobs. CREATE came at a time when FDIs have become shy worldwide because of the pandemic, GVC disruptions, trade wars and uncertainties in the global markets. Above all, the CREATE proponents have forgotten that FDIs do not necessarily go in liberalized places where wages and taxes are low. They go where markets are booming and where the supporting social and physical infras and institutions are in place, no matter how restrictive some of the business rules are. Look how high-wage Singapore continues to attract most FDIs in the region.

NLC-FDC wealth tax proposal

Meanwhile, the irony of the Philippine situation—surging wealth of the elites amid plunging incomes and jobs for the many—has not been lost to the trade unions and CSOs. The Nagkaisa Labor Coalition (NLC) and the Freedom from Debt Coalition (FDC) have been pushing since 2020 for percentile-based wealth tax measures to address the grow-

Gorecho. . .

continued from A14

to an individual’s SOGIE. The act of forcing any person to undertake any medical or psychological examination to alter his SOGIE, the publication of information intending to “out” a person without his or her consent, public speech meant to vilify LGBTQ+, the harassment and coercion of the latter by anyone especially those involved in law enforcement, and gender profiling will also be penalized.

“It is time we forge a country that includes all, loves all,” Hontiveros said.“You are more than Pride Day or Pride Month. You have every right to exist as you are in the day to day. You deserve these grand celebrations, these spaces of resistance; but you also deserve the ordinary moments.”

Akbayan’s Perci Cendaña holds

ing social-economic inequality and government’s fiscal crisis.

According to the 2020 NLC-FDC study, the total wealth of the rich in 2019 in the form of stocks, cash, securities and deposits was estimated at P31.6 trillion. Had there been a tax of just one percent, the government would have generated at least P316.5 billion.

Of course, not all those with bank deposits and other assets shall be taxed. Based on the wealth tax model developed by Senator Elizabeth Warren for the US, the NLC-FDC wealth tax proposal exempts those whose total “net worth” is less than P2 billion. However, it is up to the policy makers to determine the exemption level and the percentile figures to be applied, progressively, to those covered by the wealth tax.

Oxfam’s suggestion: Enactment of triple wealth tax measures

So how should the Marcos administration craft the wealth tax measures for the Philippines?

It will do well for the policy makers of the next administration to read the May 2022 report of Oxfam— “Profiting from Pain.” Oxfam raised a global alarm: Covid, cost-of-living crisis and inequality are killing people and making society unstable. The global toll from Covid is 20 million, while the increase in extreme poverty worldwide has been unprecedented in 20 years. Accordingly, the resulting poverty, cost-of-living crisis and inequality are killing one person every four seconds. Only the richest are immune, Oxfam wrote. Hence, the urgency for governments to implement “highly progressive taxation measures” to cover the high cost of Covid containment, and fill the financing gaps for the basic services needed by the people such as social amelioration, education, universal health and social protection.

Oxfam listed three major wealth tax measures that countries can adopt: 1. Imposition of windfall tax on windfall profits made by big corporations during the pandemic and economic crisis. Oxfam calls for a tax of “90 percent on excess profits on a temporary basis” across industries.

2. Urgent one-off solidarity wealth tax on billionaire wealth. This is also the suggestion of the IMF and other economists from the OECD countries.

3. Permanent wealth tax on the richest. This solution means the transformation of the regressive taxation system obtaining in countries like the US and the Philippines into a more progressive one. It is a progressive percentile-based taxation on wealth above a certain amount as discussed earlier. In the Oxfam model, the rate starts at 2 percent above $5 million and rises to 3 percent for those above $50 million and 5 percent above $1 billion.

To be continued Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines.

For comments, please write to reneofreneo@ gmail.com.

the historical distinction of being the first openly gay chairperson of the UP Diliman University Student Council in the mid 1990s. He was part of UP’s LGBT group Babaylan, UP SAMASA, and was also a former head of the National Youth Commission.

“The Philippine youth development plan states that youth development is defined as enabled, involved, patriotic youth realizing their aspirations. Discrimination leads to stigma that is a deterrent to development,” Cendana said in one of the Senate hearings. “Discrimination is an issue not just of human rights but a development issue because it deters our young people from realizing their aspirations.”

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

A16 Wednesday, June 29, 2022

Marcos ‘qualified’ to run for public office–13-0 SC vote T

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court, voting 13-0, on Tuesday removed the legal obstacle to the assumption of President-elect Ferdinand “Bongbong” Marcos Jr. as the country’s 17th Chief Executive after it dismissed the petition filed by martial law human-rights victims seeking to disqualify him for the post due to his conviction in July 1995 for failure to file income tax returns and pay income taxes from 1982 to 1985.

SC Public Information Office (PIO) and spokesman Brian Keith Hosaka, in a statement, said the decision was reached at Tuesday’s regular en banc session of the magistrates.

It also came two days before Marcos Jr.’s inauguration on Thursday, June 30 at the National Museum grounds.

The decision was also issued on the same day the Court confirmed that Chief Justice Alexander G. Gesmundo had agreed to administer the oath of office of the newlyelected President.

Earlier, Marcos through his lawyer Estelito Mendoza sought the dis-

missal of the petition on the ground of lack of jurisdiction to hear case.

Only the PET

MARCOS argued it is only the Presidential Electoral Tribunal (PET) which may inquire into his eligibility.

Marcos explained that since the proclamation of the winning presidential and vice candidates is over, only the SC, sitting as the PET, is the sole judge of all contests relating to the qualifications of a president.

He said the petition must also be dismissed for lack of merit since he did not commit any material misrepresentation in his COC, contrary

to the claim of the petitioners, that would warrant his disqualification from seeking the presidency.

Marcos also insisted that he is not disqualified to run for the presidency and that he has no intention to mislead, misinform and deceive the electorate.

The petition filed by Fr. Christian Buenafe, Fides Lim, Ma. Edeliza Hernandez, Celia Lagman Sevilla, Roland Vibal, and Josephine Lascano sought to set aside the January 17, 2022 and May 10, 2022 resolutions of the Commission on Elections 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 their motion for partial reconsideration, respectively.

A similar petition filed by martial law survivors led by Satur Ocampo and Bonifacio Ilagan, which was consolidated with the Buenafe et al petition, was also dismissed.

Both petitions were dismissed by the Court.

T he C ou r t ’s d e c i s ion a f firmed the Comelec resolutions issued on January 17, 2022 and May 10, 2022.

“The Court held that in the

exercise of its power to decide the present controversy led them to no other conclusion but that respondent Marcos Jr. is qualified to run for and be elected to public office,” the SC said in a decision penned by Associate Justice Rodil Zalameda.

“Likewise, his COC, being valid and in accord with the pertinent law, was rightfully upheld by the Comelec,” it added.

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

Associate Justices Henri Jean Paul B. Inting and Associate Justice Antonio Kho, Jr. did not take part in the deliberations.

Justice Inting cited that his sibling Socorro B. Inting is incumbent Commission on Elections Commissioner while Justice Kho Jr. is a former Comelec commissioner.

LOCAL TOURISM HELPS BOOST TOURISM REBOUND

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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OVERNMENT statisticians expressed support for the continued use of the One Health Pass (OHP) beyond the Covid-19 pandemic to assist key agencies in monitoring border arrivals.

In a joint news conference on Tuesday, Assistant National Statistician Vivian R. Ilarina of the Philippine Statistics Authority (PSA) said the OHP “will fast track the information generation” in terms of foreign tourist arrivals, because of its digital format.

BOQ Med ic a l O f f icer V Dr. Carlos B. Dela Reyna Jr. added it was the consensus of the APEC Health Working Group in a recent policy dialogue that “retaining the current border sur veillance will be beneficial for the economy of the region.”

For his part, Warner Andrada, Officer-in-Charge of the Department of Tourism’s (DOT) Research and Information Management Div ision urged, “We need to institutionalize the OHP, using some

More areas under AL1 despite rising Covid log

By Samuel P. Medenilla @sam_medenilla

M

ORE parts of the country were placed under Alert Level 1 despite the rising new Covid-19 cases in Metro Manila and other provinces.

Acting Presidential spokesperson Martin M. Andanar disclosed the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) issued its Resolution No. 169-A containing the new list of alert levels, to be in effect from July 1 to 15, 2022.

This despite the report of the Department of Health (DOH) last Monday that it tallied 4,634 new Covid-19 cases from June 20 to 26, or 53 percent higher than the week before the said period.

Under the updated list, 85 of 121 provinces, highly urbanized cities (HUC) and independent component cities (ICC) were placed under Alert Level It also placed 166 of 744 other component cities and municipalities in the lowest classification under the government’s alert level system.

Currently, 84 HUC and ICC and 161 component cities and municipalities are in the list of Alert Level 1 areas, where businesses and public transportation are allowed to operate at fully capacity.

Updated list

THE following HUCs and ICCs will be placed Alert Level 1 by Friday: National Capital Region (NCR)- Caloocan City, City of Malabon, City of Navotas, City of Valenzuela, Pateros, City of Pasig, City of Marikina, Taguig City, Quezon City, City of Manila, City of Makati, City of Mandaluyong, City of San Juan, City of Muntinlupa, City of Parañaque, City of Las Piñas, and Pasay City; Cordillera Administrative Region (CAR) - Abra, Apayao, Baguio City, Kalinga, and Mountain Province; Region I - Dagupan City, Ilocos Norte, Ilocos Sur, La Union, and Pangasinan; Region II - Batanes, Cagayan, City of Santiago, Isa-

instrument to make it legally binding to the Bureau of Immigration (B.I.).” Government sources told the BusinessMirror the B.I. still prefers to use the hard copy arrival and departure cards to track border flows in and out of the country.

As this developed, latest DOT data showed domestic travelers have helped jumpstart the tourism recovery of the country.

Andrada said some 37.3 million domestic trips were taken last year, up 38.2 percent from 2020. This was, however, just a fraction of the all-time high of 112.1-million domestic trips pre-pandemic, in 2019.

In terms of regional distribution of overnight travelers, the National Capital Region received the most at 1.97 million. The other top visited regions were: Region 4-A at 1.95 million, Region 3 at some 1.91 million, Region 11 at 1.29 million; Region 6 at 1.15 million; and Region 7 at 1.13 million.

The latest Philippines Tourism Satellite Accounts, meanwhile, showed the domestic travelers spent P782.51 billion in 2021, up 38.7 percent from the previous year.

Continued on A5

BBM inaugural: Ranking execs from 9 other states attending

bela, Nueva Vizcaya, and Quirino; Region III- Angeles City, Aurora, Bataan, Bulacan, Nueva Ecija, Olongapo City, Pampanga, Tarlac, and Zambales.

Other HUCs and ICCs to be included in the updated list of Alert Level areas are Batangas, Cavite, Laguna, Lucena City, and Rizal in Region IV-A; Marinduque, Oriental Mindoro, Puerto Princesa City, and Romblon in Region IVB; Albay, Catanduanes, Naga City, and Sorsogon in Region V; Aklan, Bacolod City, Capiz, Guimaras, Iloilo Province, and Iloilo City in Region VI; Cebu City, LapuLapu City (Opon), Mandaue City, and Siquijor in Region VII; Biliran, Eastern Samar, Ormoc City, Southern Leyte, and Tacloban City in Region VIII; Zamboanga City in Region IX; Bukidnon, Cagayan De Oro City, Camiguin, Iligan City, Misamis Occidental, and Misamis Oriental in Region X; Davao City and Davao Oriental in Region XI; South Cotabato in Region XII; Butuan City, Surigao Del Sur, Agusan Del Norte, and Agusan Del Sur in Caraga; and Cotabato City in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Andanar said the following component cities and municipalities will be placed under Alert Level 1: Benguet-Buguias and Tublay; Ifugao-Kiangan, Lagawe (Capital), and Lamut; Quezon Atimonan, Candelaria, City of Tayabas, Dolores, Lucban, Mauban, Pagbilao, Plaridel, Polillo, Quezon, Sampaloc, San Antonio, Tiaong, and Unisan; Occidental Mindoro -Calintaan, Looc, Lubang, and Rizal; Palawan - Cagayancillo and Culion; Camarines Norte - Basud, Capalonga, Daet (Capital), San Vicente, and Talisay; Camarines Sur - Bombon, Cabusao, Camaligan, Caramoan, Goa, Iriga City, Pamplona, Pili (Capital), Presentacion (Parubcan), San Fernando, San Jose, and Tigaon; Masbate-Balud, City of Masbate (Capital), and Mandaon; and Antique-Anini-Y, San Jose (Capital), Sebaste, and Tobias Fornier (Dao).

INE other countries are sending high-ranking officials to attend the inaugural of President-elect Ferdinand “Bongbong” R. Marcos Jr. on Thursday.

According to Philippine Amba ssador to Wa sh i ng ton DC Jose Manuel Romualdez, these are the designated special envoys sent by their respective leaders to Manila: ■ China: Vice President Wang Qishan ■ Japan: Foreign Minister Yoshimasa Hayashi ■ Australia: Governor-General David Hurley ■ Thailand: Deputy Prime Minister and Foreign Minister Don Pramudwinai ■ Malaysia: Foreign Minister Dato Sri Saifuddin Abdullah ■ United Kingdom: Prime Minister’s Trade Envoy and Minister of Parliament Richard Graham ■ South Korea: People Power Party floor leader Kweon SeongDong ■ Singapore: Second Minister for Education and Foreign Affairs Dr. Mohamad Maliki Bin Osman ■ Lao PDR: Deputy Minister of Foreign Affairs Phoxay Khaykhamphithoune This brings to 10 the number of countries whose leaders are sending personal envoys to attend the inaugural of Marcos Jr. at the National Museum in Manila.

“We were very pleased to hear that special envoys from various countries will be coming over to witness the historic event—with thousands of personnel from the military, police and other law enforcement agencies going to be deployed,” Ambassador Romualdez wrote in his column.

Romualdez, who was recently reappointed to head The Philippine Embassy in Washington DC, had dinner with his cousin Presidentelect Marcos Jr. and incoming First Lady Liza Araneta-Marcos last week during a reception that he hosted for US-Philippines Society.

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Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, June 29, 2022

Converge to expand Bicol’s fiber connectivity coverage

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By Lenie Lectura

@llectura

onverge ICT Solutions Inc. will expand its fiber connectivity coverage in the Bicol region this year to bring its port deployment in Southern Luzon to over 400,000 fiber ports by year-end.

“In line with our strategy to Go Deep in existing markets, we are rolling out nearly 200,000 fiber ports in the Bicol region this year. We want to maximize our first mover advantage as a fiber broadband provider in Bicol and expanding to the different provinces,” said Jesus C. Romero, Converge Chief Operations Officer.

The additional ports will be put up

in Camarines Sur, Camarines Norte, Albay, and Sorsogon.

Converge is setting ambitious targets for fiber penetration in Region 5, aiming to cover more than half of addressable households for the entire Bicol region.

“These coverage targets mean there will be high availability of fiber service in key markets like the

cities of Legazpi and Naga, as well as in unserved and underserved areas, like the municipalities of Gubat in Sorsogon and Lupi in Camarines Norte,” added Romero.

Converge has landed its pure fiber domestic subsea backbone in three points in Bicol—Pasacao in Camarines Sur and in Masbate City, and Milagros in Masbate, completing the redundancy loop that starts in San Juan, Batangas and passes through Roxas—Mindoro, Boracay, Roxas- Iloilo and ends in Milagros, Masbate.

“Given the importance of the Bicol region to our business, we are strengthening the customer-facing services, as well as the network infrastructure, to shore up the Converge brand in this southern Luzon region,” said Romero.

Also, Converge has opened its newest business center in Legazpi

City. The newest facility, located in 312 Penaranda Extension, Barangay Bonot, will also be the regional head office for the company.

Earlier, it established business centers in the cities of Naga, Daet, Iriga, and Sorsogon. Every Converge business center offers sales, payment, and after-sales services, plus a self-service payment kiosk to limit contact.

To date, Converge has over 500,000 kilometers of total fiber assets serving 1.8 million subscribers nationwide. Its network has reached more than 12 million homes as of the first quarter of the year, with a household coverage of 47 percent.

This year, the company continues to be in expansion mode with its fiber network being extended to more cities and municipalities in Visayas and Mindanao.

Manila Water upgrades Taguig facility

M

anila Water, the private water concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the East Zone, recently upgraded the pumps and motors at its 21st pumping station (PS) in Taguig City.

Three sets of motor pumps with a capacity of 90 million liters per day (MLD) of water each, operated with 700 horsepower (HP), as well as modification of pump and motor base and fittings, were put in place as part of the upgrade.

With these, Manila Water’s production is expected to rise to 180 million liters per day of water (MLD) at

its peak, serving more than 560,000 population in Taguig City.

The previous pumps of 21st PS started their full operation in 2000 and have a design capacity of 146 MLD. These pumps have been refilling the 29 million-liter Fort Bonifacio pumping station reservoir 24/7.

Manila Water Taguig-Pateros Area Business Manager Emmanuel Ferrer said the upgrade will help his team in providing quality customer service.

“The increased efficiency of our 21st PS will be of great help in ensuring that the reservoir will be able to meet the demands of the customers,

which include the Bonifacio Global City as well as nearby residential areas, for reliable water supply,” Ferrer added.

In 2016, the average production of the 21st pumping station was only 137 MLD. The company delivers water supply, wastewater, and sanitation services in the East Zone concession in Metro Manila and the province of Rizal, serving over 7.3 million residents. In 2021, the company was granted a 25year franchise to operate by the government.

Locally, Manila Water has ex-

panded its reach and shared its expertise to top metros and key cities in the Philippines which include the famed beach destination Boracay Island, the gateway to the southern corridor Laguna Province, the international business hub of Clark, the Queen City of Southern Philippines Cebu Province, and further down south in Davao, among others.

Manila Water has also forayed into the international water landscape through its business operations in Vietnam, Thailand, Indonesia, and the Kingdom of Saudi Arabia. Jonathan L. Mayuga

Netflix’s plan to fix its subscription crisis starts in Asia

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etflix Inc. is looking to Asia after its shock firstquarter slowdown, seeking to both maintain growth in the one region where it’s still adding subscribers and replicate its success there in other parts of the world.

Despite plans to curb overall spending, investment in Asia will keep growing, including financing for the production of local films and series, Tony Zameczkowski, vice president of business development for Asia Pacific, said in an interview.

While Netflix will continue to offer low-price, mobile-only membership across Asia, it’s also seeking more partnerships with wireless operators and digital payment companies to reach more potential customers in a region where credit card use is less common, he said.

The company’s Asia strategy is informing moves in other emerging markets, where the platform must also grow to balance out saturation in North America and Europe.

“Asia is a great proxy for other markets in the world,” said Zameczkowski. “There are similarities between emerging Asia and other emerging markets like Africa and Latin America. Learnings here can be easily replicated or leveraged by those regions.”

The world’s biggest streaming platform is at a critical juncture.

Shares surged in recent years as subscriber counts boomed, but the company reported its first loss of customers in more than a decade in April and forecasts another con-

The Netflix Inc. logo on a laptop computer arranged in the Brooklyn Borough of New York, on Saturday, October 16, 2021. Photographer: Gabby Jones/Bloomberg

traction this quarter amid fierce competition from rivals. With more than 70 percent of its market value wiped out since mid-November, Netflix is under pressure to renew a content pipeline that’s lost shine, while cutting costs.

The company has already made inroads in the Asia Pacific but the broader slowdown gives added impetus to build on the success of South Korean mega-hits like “Squid Game” and “Hellbound,” which boosted subscriptions.

The Asia Pacific region accounts for 15 percent of Netflix’s 221.6 million global subscribers and is forecast to be the biggest driver of further expansion. After a disappointing start to the year, analysts expect a rebound in the second half will see the company add about 6.8 million members for the whole year, with 79 percent coming from the Asia Pacific.

Challenges ahead Still, the region’s widely differing audiences, preferences and operating environments pose risks. New users in the Asia Pacific totaled 1.1 million in the first quarter, down 20 percent from a year earlier, and the company has faced cultural and political challenges in penetrating some markets. The series “A Suitable Boy” triggered controversy in India in 2020 over a scene showing its Hindu female protagonist kissing a Muslim man, while the company removed a show for Vietnamese audiences after the government said a map in it violated sovereignty laws.

Netflix’s customers in Asia are also some of its lowest-value ones, which means many more subscriptions are required to juice revenue. The pace of revenue growth is already the slowest since records began in 2017 after low-

priced mobile-only plans were introduced across Asia and prices slashed in India. Average revenue per membership fell 5 percent to $9.21 per month in the Asia Pacific, compared with a 5-percent increase to $14.91 in the United States and Canada.

“It’s those $14.91 subscribers who pay the bills, and they declined last quarter,” said Michael Pachter, an analyst at Wedbush Securities. “Cheap mobile pricing drives subscribers, but they come at a huge cost.”

Netflix also faces keen competition from streaming giants such as Amazon.com Inc. and Walt Disney Co., as well as local companies that have made headway into Asian markets. In Southeast Asia, Viu, owned by billionaire Richard Li, overtook Netflix to become the region’s second-largest streamer last year due to its extensive library of Korean content and a free subscription tier.

To make up for the steep pricing discounts, Netflix must concentrate on expanding the user base, both in high-revenue countries like Japan and Korea as well as emerging markets such as Thailand and Indonesia, said Vivek Couto, executive director of Media Partners Asia.

In India, that would require adding 20 million to 30 million subscribers for revenue to be meaningful, he said. The market had about 5.5 million subscribers last year, according to estimates from the consultancy. Bloomberg News

B1

Solar PHL in talks with potential power buyers

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olar Philippines said Tuesday it would soon submit another offtake proposal to complete its 9terrawatt hour (TWh) per year of target contracted energy.

“The company has indicated that it has at least one more power supply offer to be disclosed. This would complete its potentially 9 TWh per year of contracted energy, which would serve as a critical mass of demand for its 10 GW [gigawatts] of developments scheduled to commence operations mostly between 2025 (and) 2026. Energy that remains uncontracted may be sold into the spot market,” Solar Philippines founder Leandro Leviste said in a disclosure to the stock exchange.

He did not divulge details pending results of ongoing discussions with potential buyers of the company’s planned power generation capacity.

“When we began talking about 10 GW, many were in disbelief, because the total installed solar capacity of the Philippines last year was just over 1.1 GW. But we hope that having contracts for the majority of 10 GW has now made this plausible,” said Leviste.

Solar Philippines has recently submitted similar offers to substantially contract its 10 GW of solar farm developments scheduled to commence operations mostly in 2025 and 2026. The offers, should these meet the requirements of the buyers, are still subject to regulatory approval.

Last week, the Department of Energy (DOE) released the results of the Green Energy Auction Program (GEAP) in which Solar Philippines won 70 percent of all the auction’s renewable energy (RE) capacity--1380 MW out of 1967 MW-- and 91 percent of all the solar capacity--1350 MW out of 1490 MW. These are the 200MW Concepcion Tarlac 2 of Solar Philippines Commercial Rooftop Projects, Inc. (SPCRPI), 280MW Santa Rosa Nueva Ecija 2 of Solar Philippines Nueva Ecija Corp., 450MW Tayabas solar power of SPCRPI, 30MW Calatagan

wind power of Solar Philippines Calatagan Corp., 300MW Kananga-Ormoc solar power of Solar Philippines Visayas Corp., and 120MW General Santos solar power of SPCRPI. Part of this would be sourced from the first 500 MW being developed by Solar Philippines Nueva Ecija Corporation (SPNEC), with the rest to be sourced from projects under entities that would be owned by SPNEC after its asset-for-share swap with its parent company.

These include projects with a total 1.8 GW planned capacity: the Tarlac-2 400 MW Solar Farm; the Quezon 800 MW Solar Farm; the Leyte 400 MW Solar Farm; and the GenSan 200 MW Solar Farm. Under the DOE’s terms of reference, bid capacities refer to net export and not plant gross capacities.

This brings the total capacity of substantially contracted Solar Philippines projects to over 6 GW. The largest of these solar developments is Terra Solar Philippines Inc., a joint venture with Prime Infrastructure Holdings Inc. of tycoon Enrique Razon, touted to be the world’s largest solar project and would be more than twice the total capacity of solar operating in the country.

The joint venture plans to construct 3.5-GW of solar and 4.5-GWh of battery storage to supply Manila Electric Co. (Meralco) 850 MW of mid-merit; another over 200 MW of projects contracted with Meralco; and over 175 MW of already operational capacity.

“We are completing certain contracting processes, the company plans to provide more details on these projects in the coming days,” Solar Philippines told the exchange.

“We were fortunate to have been at the right place at the right time, developing these projects since 2016. Now we have contracted this capacity, we look forward to work with other companies and stakeholders to deliver these projects and help achieve our country’s targets for renewable energy,” Leviste added. Lenie Lectura

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Companies BusinessMirror

Wednesday, June 29, 2022

Figaro, Cebu Pacific create local coffee blend for flyers

F

By VG Cabuag

@villygc

igaro Coffee Group Inc. on Tuesday said it has partnered with Cebu Pacific to serve an “upscale” blend of coffee for the budget airline’s passengers.

“Together with the Cebu Pacific team, we have created a unique coffee blend that passengers will love.

We are using freshly roasted and freshly ground pure coffee beans for the formulation.

Packed into a special teabag packaging, it is very simple to prepare and tastes amazing. We are very excited to re-launch this together with Cebu Pacific to delight onboard passengers,” Victoria Reyes, Figaro’s busi-

ness development manager, said.

Figaro said it partnered with the airline as they are both homegrown Filipino brands that aim to show to the world the high-quality products that local companies produce.

Together with other inflight snacks and drinks, customers will be able to purchase this on Cebu Pacific’s flights, both domestic and international.

“Now that more people are fly-

ing, we want to ensure we cater to our wide customer base as we gradually rebuild our inflight offerings.

We hope guests look forward to this premium Figaro and Cebu Pacific blend inflight, a taste of homegrown Filipino coffee in the skies,” Candice Iyog, Cebu Pacific’s vice president for marketing and customer experience, said.

“We look forward to continue working closely with Cebu Pacific and our institutional clients to offer high quality and affordable food solutions,” Reyes said.

Figaro Coffee is a brand under the Figaro Coffee Group Inc., which also owns Angel’s Pizza and Tien Ma’s Taiwanese Cuisine.

The company earlier said it will add some 30 branches this year as it expands its stable of brands to high-demand areas in the country.

It will end the year with some

150 branches from the current 120 stores.

“The gradual reopening of the economy gave us the confidence to aggressively expand our presence in more areas in the country. We at Figaro want to be able to cater to new markets that have high demand for quality food products at affordable prices,” Figaro Chairman Justin Liu said.

The company said it is now building the 30 outlets, with leases signed and sites secured, in Bulacan, Cavite, Cebu and Laguna, along with more areas in the National Capital Region.

Along with its expansion, the company said it is also building more commissaries across the country to support the stores. Set for completion this third quarter is the Cebu commissary as well as expansion of its main Metro Manila hub.

Anti-dummy case against Megawide junked

T

he Regional Trial Court of Lapu-Lapu City Branch 68 has dismissed the anti-dummy case filed against the officials and top board of directors of Megawide Construction Corp.

The case was filed in their capacity as directors of GMR-Megawide Cebu Airport Corp. (GMAC) Megawide is operating the facility along with its partner GMR Group, an Indian multinational conglomerate headquartered in New Delhi.

Charged in relation to the GMAC row were Edgar B. Saavedra, Megawide president and CEO; Manuel Louie B. Ferrer, the company’s executive director for infrastructure development; Jez G. Dela Cruz, vice president for corporate finance and planning; and Oliver Y. Tan, company director.

The individuals were charged nearly two years ago for alleged foreign ownership violations in the operation and maintenance of Mactan-Cebu International Airport.

The Anti-Dummy Law was enacted to penalize those who violate

foreign equity restrictions and evade nationalization laws of the Philippines, in which 60 percent should be owned by a Filipino.

It prohibits dummy, or any other proxy arrangement to accomplish a transaction not allowed under Philippine law.

“The dismissal of the case was necessitated by the enactment of Republic Act [RA] 11659, signed into law last 21 March 2022, which clearly excluded airport operations and maintenance from the definition of a public utility,” the court order read.

RA 11659 amended Commonwealth Act No. 146 otherwise known as the Public Service Act. “Consequently, RA No. 11659 has completely eradicated any alleged violation of the Anti-Dummy Law of which Megawide respondents were wrongfully accused of,” the court said.

“Furthermore, the Omnibus Order stated that RA No. 11659 applies to the Megawide respondents due the retroactive effect of laws favorable to the accused.” VG Cabuag

TaskUs: Firms must embrace inclusivity

T

askUs, a US-based provider of outsourced digital services, said workplaces should prioritize eliminating barriers to realizing the full potential of employees, especially for those who are part of minority groups, such as the LGBTQ+

community, women, and persons with disabilities.

Ana Marfil, the company’s Senior Director for Global Diversity Inclusion, said companies can create benefits, programs, and policies on top of any government mandates.

“Not all regions where TaskUs is located provide laws and benefits for LGBTQ+ employees. But this doesnt’ stop us, as an organization, to create company policies that will safeguard the welfare of our employees,” said Marfil in a statement.

She said the company created several Employee Resource Groups (ERGs) in each region. These ERGs are voluntary, employee-led organizations that intend to advance employee advocacies, partake in lobbying recommendations for policy-making and company benefits, and establish a safe space for marginalized groups inside and outside TaskUs. Andrea E. San Juan

mutual funds

June 28, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 200.82 -10.13% -9.2% -6.03% -13.84% ATRAM Alpha Opportunity Fund, Inc. -a 1.3086 -5.88% -7.67% -3.88% -21.37% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7547 -10.56% -12.75% -8.59% -14.92% Climbs Share Capital Equity Investment Fund Corp. -a 0.6925 -11.33% -10.33% n.a.

-8.46% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6449 -13.4% -10.12% n.a.

-16.34% First Metro Save and Learn Equity Fund,Inc. -a 4.5288 -7.72% -6.54% -4.02% -12.62% -6.31% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6722 -9.02% -6.84% -14.18% MBG Equity Investment Fund, Inc. -a 75.84 -24.91% -14.63% n.a.

-19.69% PAMI Equity Index Fund, Inc. -a 41.2241 -9.9% -8.12% -4.61% -14.34% Philam Strategic Growth Fund, Inc. -a 430.8 -10.36% -7.97% -4.59% -13.96% Philequity Dividend Yield Fund, Inc. -a 1.2182 5.87% -3.32% -1.36% -10.18% Philequity Fund, Inc. -a 31.5245 -7.96% -7.24% -3.58% -13.86% Philequity MSCI Philippine Index Fund, Inc. -a 0.8115 -9.32% -8.71% n.a.

-13.8% Philequity PSE Index Fund Inc. -a 4.2662 -8.99% -7.51% -3.98% -14% Philippine Stock Index Fund Corp. -a 710.97 -9.45% -7.57% -4.04% -14.19% -15.6% Soldivo Strategic Growth Fund, Inc. -a 0.6352 -11.32% -12.26% -6.79% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.1829 -10.29% -10.22% -5.48% -15.7% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8093 -9.75% -7.86% -4.3% -14.31% United Fund, Inc. -a 2.9828 -8.61% -7.64% -3.27% -13.22% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0078 -7.25% n.a. n.a.

-13.32% Philippine Stock Index Fund Corp. -a 866.14 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 95.8314 -9.07% -7.37% -3.66% -14.03% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9488 -25.13% -1.54% -0.78% -15.77% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4695 -18.4% 4.37% 4.73% -20.41% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5159 -9.62% -4.79% -3.19% -10.41% ATRAM Philippine Balanced Fund, Inc. -a 2.0666 -8.33% -3.98% -2.68% -9.42% First Metro Save and Learn Balanced Fund Inc. -a 2.4745 -5.32% -2.68% -1.25% -8.05% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1902 -2.91% n.a. n.a.

-9% NCM Mutual Fund of the Phils., Inc. -a 1.8585 -5.27% -1.65% -0.43% -7.84% PAMI Horizon Fund, Inc. -a 3.3908 -8.41% -3.55% -1.94% -9.94% Philam Fund, Inc. -a 15.1865 -8.52% -3.72% -2.02% -9.85% Solidaritas Fund, Inc. -a 1.943 -6.17% -3.58% -1.98% -8.41% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2424 -8.16% -6.11% -3.06% -11.1% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8423 -5.17% -5.68% -2.62% -11.73% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.8886 -10.2% -4.71% n.a.

-10.22% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8097 -11.27% -7.64% n.a.

-14.27% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7964 -11.57% -8.05% n.a.

-14.72% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03336 -12.88% -3.69% -1.48% -12.07% PAMI Asia Balanced Fund, Inc. -b $0.9284 -18.17% -2.07% -0.92% -13% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9663 -16.35% 1.94% 2.9% -17.4% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0161 -15.19% -1.56% 0.06% -15.23% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 372.74 0.13% 2.1% 2.24% -0.42% ATRAM Corporate Bond Fund, Inc. -a 1.8893 -2.02% -0.18% -0.01% 0.24% Cocolife Fixed Income Fund, Inc. -a 3.2265 -0.07% 1.89% 3.27% -0.54% 0.56% Ekklesia Mutual Fund Inc. -a 2.1682 -4.12% -0.26% -3.7% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3963 -1.87% 1.17% 1.57% -1.22% Philam Bond Fund, Inc. -a 4.1812 -6.96% 0% 0.45% -4.88% Philam Managed Income Fund, Inc. -a 1.3051 -1.47% 2.45% 2.57% -1.06% Philequity Peso Bond Fund, Inc. -a 3.8811 -2.39% 1.87% 2.11% -2.14% Soldivo Bond Fund, Inc. -a 1.0069 -2.99% 2.32% 1.6% -2.07% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1275 -2.69% 1.89% 2.49% -1.88% Sun Life Prosperity GS Fund, Inc. -a 1.693 -3.21% 0.99% 1.8% -2.17% Primarily invested in foreign currency securities (shares) 1.7% ALFM Dollar Bond Fund, Inc. -a $481.46 -0.97% 1.77% -1.66% ALFM Euro Bond Fund, Inc. -a Є210.93 -4.17% -0.99% -0.1% -4.13% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0759 -9.68% -3.14% -0.82% -10.63% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.72% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.8986 -14.93% -6.14% -3.63% -12.14% Philam Dollar Bond Fund, Inc. -a $2.2202 -11.75% -1.74% -0.16% -11.39% Philequity Dollar Income Fund Inc. -a $0.0607222 -3.59% 0.93% 1.2% -2.52% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7641 -13.18% -3.51% -1.75% -13.52% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.12 1.4% 2.28% 2.54% 0.71% First Metro Save and Learn Money Market Fund, Inc. -a 1.0636 1.02% 1.58% n.a.

0.56% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3256 1.56% 2.13% 2.47% 0.76% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0638 0.59% 1.15% n.a.

0.3% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 43.7775 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2201 -3.72% n.a. n.a.

-11.77% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8223 -17.77% n.a. n.a.

-15.23% 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

PSE STOCK QUOTATIONS

June 28, 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 PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG PHIL STOCK EXCH SUN LIFE

42.5 116.4 8.2 86.05 26.9 6.76 6.96 49.1 7.22 17.6 56.3 95 19.32 91.2 76.45 2.28 3.45 2.02 186.8 2,366

44.5 116.5 8.28 86.1 27 8.4 7 49.25 7.75 17.7 56.9 100 19.5 91.4 76.5 2.38 3.5 2.18 187 2,378

44.45 118 8.49 85.5 27 6.72 6.96 49 7.75 17.78 56.9 100 19.5 91.5 76.5 2.39 3.45 2.11 188 2,378

44.5 118.1 8.49 86.9 27 8.39 7 49.8 7.75 17.78 56.9 100 19.5 92.1 76.9 2.39 3.5 2.11 188 2,378

44.4 114.2 8.09 85.35 26.9 6.72 6.95 48.4 7.22 17.54 56.3 100 19.5 90.4 76 2.28 3.45 2.11 187 2,366

44.4 116.5 8.28 86.1 26.95 8.39 7 49.1 7.22 17.6 56.3 100 19.5 91.4 76.5 2.28 3.5 2.11 187 2,366

6,000 5,144,710 7,700 2,364,450 109,400 800 66,700 1,535,400 11,800 16,900 250 30 6,900 144,040 1,850 262,000 5,000 1,000 910 115

266,835 595,053,742 63,083 203,530,805 2,949,875 5,859 465,278 75,176,610 88,371 297,404 14,093 3,000 134,550 13,175,775.50 141,457.50 602,050 17,400 2,110 170,690 272,330

INDUSTRIAL

-165,448,107 -62,060,936.50 2,700 -386,428 -32,043,335 -42,252 -1,892,726 34,422.50 -65,450 224,770

AC ENERGY 8.11 8.14 7.79 8.14 7.78 8.14 25,830,700 206,625,488 0.95 0.97 0.96 0.96 0.95 0.95 92,000 87,410 ALSONS CONS 29.4 29.45 29.35 29.6 29.1 29.45 1,160,800 34,171,945 ABOITIZ POWER 2.1 2.11 2.15 2.16 2.04 2.11 17,845,000 37,445,880 RASLAG 0.385 0.39 0.385 0.395 0.38 0.39 4,220,000 1,622,700 BASIC ENERGY 16.8 16.82 17 17 16.7 16.8 379,300 6,385,562 FIRST GEN 60.5 62 61.95 61.95 60.05 60.5 38,940 2,338,552 FIRST PHIL HLDG 353.6 358 352.2 359.8 352.2 358 243,870 86,418,630 MERALCO MANILA WATER 17.1 17.18 16.98 17.18 16.82 17.18 187,700 3,203,818 PETRON 3.05 3.07 3.08 3.08 3.02 3.05 145,000 442,330 PETROENERGY 4.66 4.85 4.84 4.85 4.84 4.84 11,000 53,250 9.56 9.99 9.89 9.99 9.89 9.99 52,500 524,365 PHX PETROLEUM 12.16 12.2 12.2 12.22 12.14 12.2 2,462,100 30,033,444 SYNERGY GRID PILIPINAS SHELL 17.3 17.6 17.78 17.9 17.12 17.3 71,600 1,261,928 9.07 9.08 9.1 9.1 9 9.08 155,300 1,404,755 SPC POWER 1.67 1.68 1.65 1.72 1.65 1.68 89,837,000 151,384,820 SOLAR PH 12.82 15.5 15.98 15.98 15.98 15.98 300 4,794 VIVANT 4.85 4.99 4.79 5.08 4.79 4.99 1,672,000 8,260,380 AGRINURTURE 2.26 2.3 2.28 2.28 2.28 2.28 180,000 410,400 AXELUM 9.16 10 10 10 10 10 6,300 63,000 CNTRL AZUCARERA 21.7 22 22 22 21.05 22 714,700 15,686,355 CENTURY FOOD 14.2 14.5 14.86 14.86 14 14.5 87,400 1,253,158 DEL MONTE DNL INDUS 6.64 6.65 6.65 6.74 6.65 6.65 396,300 2,643,036 EMPERADOR 19.36 19.48 19.3 19.5 19.12 19.48 3,190,400 61,547,438 SMC FOODANDBEV 48.05 48.2 48 48.2 47.95 48.2 44,800 2,156,460 FIGARO COFFEE 0.61 0.62 0.62 0.63 0.6 0.62 21,569,000 13,243,360 ALLIANCE SELECT 0.55 0.58 0.58 0.58 0.55 0.55 40,000 22,330 1.06 1.07 1.08 1.08 1.06 1.07 2,208,000 2,361,440 FRUITAS HLDG 99.95 100 100.2 101.7 100 100 43,330 4,334,415 GINEBRA 199.9 200 200.8 201 198.5 200 621,470 124,170,601 JOLLIBEE 1.11 1.12 1.1 1.12 1.09 1.11 581,000 641,790 KEEPERS HLDG 16.62 22.4 16.6 16.62 16.6 16.62 1,000 16,610 LIBERTY FLOUR 4.5 4.6 4.6 4.92 4.6 4.6 158,000 739,140 MAXS GROUP 13 13.08 13 13.14 12.64 13.08 7,858,200 101,144,922 MONDE NISSIN 7 7.03 7 7 7 7 45,100 315,700 SHAKEYS PIZZA 0.54 0.56 0.54 0.57 0.54 0.56 238,000 129,630 ROXAS AND CO RFM CORP 3.98 4 4 4 4 4 14,000 56,000 1.47 1.55 1.52 1.55 1.5 1.5 51,000 76,760 ROXAS HLDG 106.5 107 101.4 108 101 106.5 4,571,230 483,037,959 UNIV ROBINA VITARICH 0.56 0.6 0.58 0.6 0.58 0.6 46,000 27,120 2.5 2.69 2.5 2.5 2.5 2.5 2,000 5,000 VICTORIAS 0.63 0.64 0.65 0.65 0.62 0.64 760,000 479,280 CEMEX HLDG EAGLE CEMENT 12.36 12.4 12.34 12.4 12.34 12.4 16,000 197,874 3.33 3.48 3.27 3.48 3.27 3.48 333,000 1,115,080 EEI CORP 5.07 5.25 5.25 5.25 5.07 5.07 402,600 2,111,392 HOLCIM 3.63 3.65 3.17 3.74 3.17 3.63 1,092,000 3,748,570 MEGAWIDE 19.2 19.44 19.5 19.5 19.44 19.44 10,700 208,020 PHINMA 0.73 0.76 0.79 0.79 0.72 0.72 18,000 13,210 TKC METALS 0.79 0.8 0.78 0.79 0.77 0.79 206,000 161,200 VULCAN INDL 0.74 1 1 1 1 1 62,000 62,000 EUROMED 2.63 3.6 3.6 3.6 3.6 3.6 2,000 7,200 LMG CORP MABUHAY VINYL 5.6 5.79 5.6 5.8 5.22 5.79 5,100 28,327 PRYCE CORP 5.26 5.54 5.35 5.55 5.35 5.55 3,400 18,320 17.5 18.98 18.4 18.98 18.4 18.98 2,700 49,748 CONCEPCION GREENERGY 1.59 1.6 1.61 1.65 1.57 1.6 5,402,000 8,745,920 INTEGRATED MICR 6.1 6.2 6 6.2 6 6.2 3,900 23,422 IONICS 0.53 0.55 0.55 0.55 0.53 0.53 210,000 111,400 5.76 5.93 5.97 5.97 5.75 5.93 5,300 31,375 PANASONIC 0.94 1 1 1 0.93 0.93 4,000 3,790 SFA SEMICON 2.5 2.51 2.44 2.5 2.42 2.5 394,000 972,290 CIRTEK HLDG

8,478,889 960 1,287,610 -461,270 -11,850 2,430,630 -261,217.50 190,004 -411,914 -27,300 -9,854,704 361,660 1,213,640.00 -145,920 9,000 97,430 7,330 -812,129 14,454,904 -1,680,055 3,713,600 -3,547,858 -76,388,099 10,900 -485,540 -30,967,944 -315,000 129,630 65,707,310 -284,350 -724,210 -135,292 -51,300 -12,000 -580 -12,880.00 3,061,370 10,800 -

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER ZEUS HLDG

12,978,220 -34,355,040 -2,422,577.50 -17,320,809 -431,860 -2,626,740 23,310,284 -92,690 -67,037,943 -10,837,365 -16,913,160 50,181,330 1,795,429 -76,850 -

HOLDING & FRIMS

1.42 3.62 629.5 51.1 9.1 8.8 0.75 0.405 0.42 4.33 8.7 6.9 0.208 469.8 3.3 48.5 7.5 2.95 8.09 3.59 2.15 3.36 822 102.6 2.15 108 0.166

1.43 4.99 634 51.35 9.11 8.9 0.78 0.41 0.45 4.36 8.74 7.02 0.27 475 3.31 48.85 9.9 2.97 8.1 3.6 2.29 3.37 829 104.6 2.8 117 0.173

1.41 3.62 630 51.4 9.19 8.9 0.78 0.4 0.42 4.4 8.52 7 0.208 470 3.31 50 7.5 2.95 8.09 3.6 2.12 3.42 802 103.2 2.17 108 0.176

1.45 3.62 644.5 51.45 9.23 8.9 0.78 0.405 0.42 4.42 8.74 7 0.208 475 3.32 50 7.5 2.95 8.15 3.6 2.29 3.48 829 104.5 2.17 117 0.176

1.4 3.62 623.5 50.5 9.02 8.8 0.78 0.4 0.42 4.3 8.5 7 0.208 462 3.31 48.2 7.5 2.95 8.08 3.55 2.12 3.33 801 102 2.17 108 0.166

1.42 3.62 629.5 51.1 9.11 8.8 0.78 0.405 0.42 4.36 8.7 7 0.208 475 3.31 48.85 7.5 2.95 8.1 3.59 2.29 3.36 829 104.5 2.17 117 0.166

22,183,000 1,000 342,400 1,735,840 4,071,900 1,800 20,000 880,000 10,000 423,000 4,381,600 5,000 10,000 157,080 43,000 2,981,370 200 20,000 1,665,900 9,534,000 56,000 3,249,000 246,390 174,040 20,000 1,380 450,000

31,518,830 3,620 216,894,575 88,978,391 37,036,727 15,850 15,600 355,800 4,200 1,836,000 37,915,881 35,000 2,080 74,106,972 142,340 144,404,305 1,500 59,000 13,489,723 34,099,500 125,320 10,995,050 201,939,955 18,068,545 43,400 157,490 75,600

PROPERTY ARTHALAND CORP 0.55 0.57 0.56 0.57 0.54 0.57 141,000 78,340 27.2 27.4 27.3 27.5 26.6 27.2 17,321,700 467,614,290 AYALA LAND 3.4 3.44 3.3 3.46 3.3 3.44 417,000 1,424,340 AYALA LAND LOG 13 13.98 13 13 13 13 300 3,900 ALTUS PROP 2.12 2.13 2.2 2.2 2.12 2.13 1,881,000 4,039,820 ARANETA PROP 34.85 34.9 35 35.75 34.5 34.9 288,000 10,026,580 AREIT RT 0.75 0.8 0.75 0.75 0.73 0.75 437,000 321,200 A BROWN 0.69 0.7 0.69 0.69 0.69 0.69 5,000 3,450 CITYLAND DEVT CROWN EQUITIES 0.083 0.086 0.086 0.086 0.086 0.086 10,000 860 2.52 2.54 2.5 2.55 2.49 2.54 108,000 270,970 CEB LANDMASTERS CENTURY PROP 0.365 0.38 0.37 0.38 0.365 0.375 3,740,000 1,375,000 2.41 2.42 2.42 2.45 2.4 2.42 839,000 2,037,260 CITICORE RT DOUBLEDRAGON 8.17 8.21 8.5 8.5 8.14 8.17 123,100 1,016,355 DDMP RT 1.45 1.47 1.47 1.47 1.45 1.45 1,308,000 1,912,630 DM WENCESLAO 6.76 6.8 6.8 6.8 6.78 6.78 22,500 152,580 0.195 0.199 0.199 0.199 0.199 0.199 50,000 9,950 EMPIRE EAST 0.246 0.25 0.25 0.25 0.246 0.246 4,450,000 1,100,930 EVER GOTESCO 6.7 6.8 6.8 6.8 6.6 6.8 1,171,100 7,868,294 FILINVEST RT 0.88 0.89 0.88 0.9 0.88 0.89 22,568,000 20,089,450 FILINVEST LAND 0.84 0.85 0.84 0.84 0.84 0.84 3,000 2,520 GLOBAL ESTATE 10.06 10.3 10.36 10.38 10.1 10.3 40,200 410,374 8990 HLDG 0.93 0.95 0.95 0.95 0.95 0.95 4,000 3,800 PHIL INFRADEV CITY AND LAND 0.72 0.73 0.73 0.73 0.72 0.73 52,000 37,610 2.3 2.33 2.28 2.36 2.26 2.3 28,157,000 65,019,630 MEGAWORLD MRC ALLIED 0.19 0.194 0.192 0.194 0.19 0.19 3,620,000 691,850 15.22 15.24 15.12 15.4 15.12 15.24 417,100 6,332,592 MREIT RT PHIL ESTATES 0.37 0.39 0.37 0.37 0.37 0.37 100,000 37,000 1.93 2.01 1.99 2.01 1.96 1.99 1,316,000 2,629,410 PRIMEX CORP RL COMM RT 6.1 6.15 6.25 6.25 6.03 6.1 2,584,700 15,744,446 17 17.28 16.9 17.44 16.84 17.28 251,000 4,276,768 ROBINSONS LAND 0.205 0.237 0.229 0.237 0.228 0.237 1,070,000 246,910 PHIL REALTY 1.21 1.36 1.2 1.21 1.2 1.21 84,000 100,870 ROCKWELL 2.46 2.52 2.46 2.46 2.46 2.46 7,000 17,220 SHANG PROP 2.91 3.02 2.95 3.03 2.95 3.03 10,000 29,980 STA LUCIA LAND 37 37.3 36 37.45 35.75 37.3 6,435,300 238,188,680 SM PRIME HLDG 3.18 3.29 3.21 3.27 3.2 3.27 12,000 38,530 VISTAMALLS VISTA LAND 1.98 2.02 2.02 2.02 1.97 2.02 414,000 827,780 VISTAREIT RT 1.72 1.73 1.72 1.73 1.71 1.73 1,562,000 2,681,320

SERVICES ABS CBN 9.13 9.14 9 9.15 8.75 9.13 38,000 343,208 11.6 11.62 11.3 11.6 11.3 11.6 274,400 3,139,850 GMA NETWORK 0.335 0.365 0.34 0.34 0.34 0.34 10,000 3,400 MANILA BULLETIN 2,280 2,284 2,166 2,294 2,120 2,280 93,855 209,989,130 GLOBE TELECOM 1,775 1,780 1,728 1,807 1,728 1,780 125,420 222,937,200 PLDT 0.039 0.04 0.038 0.039 0.037 0.039 229,100,000 8,803,400 APOLLO GLOBAL 21.7 21.75 20 21.95 20 21.7 33,426,800 710,175,965 CONVERGE 3.05 3.16 2.88 3.19 2.88 3.16 140,000 421,300 DFNN INC DITO CME HLDG 3.83 3.84 3.84 3.85 3.8 3.83 1,625,000 6,199,350 JACKSTONES 1.59 1.6 1.59 1.59 1.59 1.59 3,000 4,770 1.15 1.16 1.16 1.17 1.15 1.16 1,014,000 1,179,830 NOW CORP TRANSPACIFIC BR 0.29 0.295 0.29 0.3 0.29 0.295 2,500,000 732,900 2GO GROUP 7 7.2 6.8 7 6.8 7 35,800 243,995 ASIAN TERMINALS 13.78 13.8 13.7 13.78 13.68 13.78 20,100 275,872 1.33 1.38 1.36 1.38 1.33 1.38 197,000 267,660 CHELSEA 43.5 43.55 42.5 43.6 42.05 43.55 62,200 2,686,250 CEBU AIR 191 195 187.5 198.8 186.6 195 843,670 162,747,492 INTL CONTAINER 21.6 21.85 21.8 21.85 21.5 21.85 1,900 41,040 LBC EXPRESS 0.56 0.65 0.65 0.66 0.65 0.65 28,000 18,240 LORENZO SHIPPNG 4.1 4.18 4.03 4.21 4.03 4.18 191,000 790,070 MACROASIA 0.9 0.95 0.91 0.91 0.9 0.9 20,000 18,020 METROALLIANCE A 5.4 5.45 5.51 5.51 5 5.4 175,200 911,794 PAL HLDG HARBOR STAR 0.87 0.88 0.82 0.87 0.82 0.87 89,000 75,600 0.084 0.086 0.082 0.087 0.081 0.086 57,960,000 4,863,470 BOULEVARD HLDG GRAND PLAZA 10.56 14.52 14.54 14.54 14.54 14.54 4,500 65,430 530.5 588.5 530 530 530 530 40 21,200 FAR EASTERN U 6.56 7.22 7.22 7.22 7.22 7.22 100 722 IPEOPLE 0.33 0.34 0.325 0.34 0.325 0.34 870,000 286,200 STI HLDG 1.2 1.21 1.2 1.21 1.19 1.21 3,007,000 3,608,400 BELLE CORP 5.95 5.96 5.75 5.95 5.69 5.95 1,035,600 6,027,500 BLOOMBERRY 1.37 1.41 1.42 1.42 1.38 1.42 59,000 83,300 PACIFIC ONLINE 1.36 1.38 1.35 1.37 1.35 1.37 233,000 316,950 LEISURE AND RES 1.1 1.49 1.49 1.49 1.49 1.49 1,000 1,490 MANILA JOCKEY 0.94 0.98 0.98 0.98 0.98 0.98 1,000 980 MJC INVESTMENTS 0.81 0.82 0.74 0.84 0.74 0.81 2,118,000 1,687,930 PH RESORTS GRP 0.395 0.4 0.4 0.4 0.395 0.4 1,810,000 715,550 PREMIUM LEISURE PHILWEB 6.08 6.09 5.82 6.15 5.82 6.09 20,012,500 120,359,180 ALLDAY 0.295 0.3 0.3 0.31 0.295 0.3 24,250,000 7,288,150 ALLHOME 4.58 4.66 4.51 4.66 4.51 4.66 138,000 631,700 METRO RETAIL 1.44 1.45 1.44 1.44 1.44 1.44 65,000 93,600 30.55 30.7 30.5 30.9 30.4 30.55 611,100 18,697,050 PUREGOLD ROBINSONS RTL 50.1 50.4 51.25 51.25 48.4 50.4 3,141,620 157,092,705.50 PHIL SEVEN CORP 50.5 53 49.65 50.5 49.65 50 9,400 470,365 1.2 1.21 1.22 1.22 1.19 1.21 2,137,000 2,569,340 SSI GROUP 23.95 24 24.2 24.2 23.95 24 1,499,900 36,008,765 WILCON DEPOT 0.195 0.197 0.196 0.196 0.196 0.196 200,000 39,200 APC GROUP 3.88 4.28 3.88 3.88 3.88 3.88 2,000 7,760 EASYCALL 0.57 0.58 0.57 0.58 0.56 0.58 287,000 164,250 MEDILINES 0.405 0.41 0.415 0.42 0.405 0.41 930,000 381,300 PRMIERE HORIZON

MINING & OIL ATOK 6.91 7 7.11 7.11 6.9 6.91 119,300 833,898 1.47 1.49 1.41 1.5 1.41 1.49 2,654,000 3,889,580 APEX MINING 4.8 4.9 4.75 4.85 4.7 4.8 233,000 1,118,160 ATLAS MINING 6 6.05 5.95 6.1 5.9 6.05 22,900 139,040 BENGUET A 5.8 6 5.96 6.05 5.96 6 13,400 80,326 BENGUET B 2.7 2.74 2.7 2.74 2.7 2.74 30,000 81,400 CENTURY PEAK 2.25 2.29 2.2 2.25 2.2 2.25 587,000 1,317,730 FERRONICKEL LEPANTO A 0.133 0.134 0.133 0.134 0.133 0.134 10,600,000 1,415,080 0.135 0.14 0.14 0.14 0.14 0.14 200,000 28,000 LEPANTO B 0.0095 0.0096 0.0096 0.0096 0.0095 0.0095 19,000,000 181,300 MANILA MINING A 1.44 1.45 1.39 1.48 1.38 1.44 1,975,000 2,839,980 MARCVENTURES NIHAO 0.92 0.95 0.92 0.95 0.91 0.95 9,000 8,250 6.13 6.17 6.11 6.17 6.06 6.13 2,512,900 15,384,455 NICKEL ASIA PX MINING 3.47 3.48 3.4 3.49 3.4 3.48 306,000 1,056,070 34.5 34.7 32.75 34.65 32.75 34.65 4,188,000 142,954,210 SEMIRARA MINING 8.12 8.3 8.03 8.37 8.03 8.3 334,800 2,756,374 ACE ENEXOR 0.01 0.011 0.011 0.011 0.01 0.011 3,300,000 35,300 ORNTL PETROL A 0.0084 0.0091 0.0085 0.0091 0.0083 0.0091 25,000,000 216,100 PHILODRILL 5.27 5.28 4.88 5.32 4.88 5.28 1,469,000 7,582,700 PXP ENERGY

PREFFERED AC PREF B1 501 502 502 502 501 501 2,300 1,152,600 43 44.5 43 43 43 43 25,400 1,092,200 CEB PREF 100.6 101 101 101 101 101 1,470 148,470 CPG PREF A 96.5 99.95 99.9 99.9 99.9 99.9 1,000 99,900 DD PREF 100.6 104 104 104 104 104 1,000 104,000 EEI PREF A 104 105 105 105 105 105 4,760 499,800 EEI PREF B 985 1,015 990 990 980 980 1,260 1,246,700 GTCAP PREF A 1,019 1,028 1,019 1,019 1,019 1,019 70 71,330 GTCAP PREF B MWIDE PREF 2B 97.5 99.5 96 96 96 96 10 960 97 98 98 98 98 98 2,130 208,740 MWIDE PREF 4 100 100.5 100.5 100.5 100.5 100.5 1,030 103,515 PNX PREF 3B PNX PREF 4 973 980 980 980 980 980 50 49,000 1,048 1,050 1,048 1,048 1,048 1,048 65 68,120 PCOR PREF 3A 74.05 75 75.5 75.5 75 75 36,170 2,718,402 SMC PREF 2H 76.05 77.4 77.4 77.4 77.4 77.4 20 1,548 SMC PREF 2I 74.2 75.5 75.75 75.75 74 75.7 4,550 337,128.50 SMC PREF 2J 72.6 73.5 72.55 73.5 72.55 73.5 460 33,468 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 8.24 9 11.26 11.46 11.46 11.46 11.46 11.46 1,300 14,898 GMA HLDG PDR

WARRANTS TECH WARRANT 0.455 0.48 0.435 0.48 0.435 0.48 70,000 31,750

-214,378,635 -171,340 -47,080 -6,493,085.00 37,800 185,320 -177,981 52,300 -236,550 -778,165 -11,891,820 10,100 950 -11,361,270 -350,194 1,990 -2,903,870 -553,972 4,840 57,807,460 -324,970.00 58,820 25,139,300 19,841,285 316,800 240,893,995 12,200 270,120 -366,770 103,250 166,600 1,940,555 12,440,323 150,000 340,480 -3,601,210 -1,732,905.00 1,490 41,250 3,950 -5,092,920 321,050 -467,610 -11,148,255 151,670,013.50 419,865 2,133,380 1,161,040 -114,350 -140,000 -1,801,800 -323,870 60,000 81,400 -997,970 20,850 -1,078,040 -34,720 3,844,230 -2,142,102.00 -9,100 966,540 -1,002,000 50,250 -

SMALL & MEDIUM ENTERPRISES

CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.93 1 0.76 1.31 0.295

0.95 1.01 0.77 1.32 0.31

EXHANGE TRADE FUNDS FIRST METRO ETF

97

98

0.93 1 0.74 1.35 0.3

0.97 1 0.77 1.38 0.3

0.93 0.96 0.74 1.31 0.295

0.95 1 0.77 1.32 0.295

13,047,000 150,000 479,000 1,059,000 320,000

12,352,170 146,160 364,130 1,421,170 94,950

-3,438 54,330 -31,510 -

96.3 97.2 95.5 97.2 14,870 1,430,235 473,957.50

www.businessmirror.com.ph

Wealth tax seen key to economic recovery

By Andrea San Juan

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ORMER Congressman Teodoro “Teddy” A. Casiño said he is supporting calls to impose a higher tax on individuals with higher net worth.

At a media forum last Tuesday, the “wealth tax” is among the reforms that Casiño said is being pushed by “people economics.”

“Pondohan ang pag-unlad. Sa lahat ng bansang maunlad, susi ang suporta ng pamahalaan, susi ang pondo. Sa isang aspeto niyan ay dapat buwisan ng malaki ang may kaya, kaya sinusuportahan po natin ’yung ‘wealth tax,’” Casiño, a member of the 13th Congress, said.

[Fund development. In all developed countries, government support is key; funding is key. One aspect of that is the rich should be taxed heavily; so we support the wealth tax.]

Casiño echoes several pundits pushing for the wealth tax. One of them is Freedom from Debt Coalition (FDC) President Rene E. Ofreneo.

Ofreneo said last week the FDC believes imposing a wealth tax could save the economy and reduce the regressivity in the tax system.

A wealth tax, he added, could “save both the poor and the rich.”

However, Ofreneo said imposing a wealth tax still depends on President-elect Ferdinand Marcos Jr. “Hopefully, he will [impose a wealth tax], because it is a key to the survival of the economy” and his administration, he added.

‘Super-rich’ tax

SENATOR Sherwin T. Gatchalian has said the wealth tax merits attention and that the Senate “will study that very well.”

At the Lower House, House Bill (HB) 10253 or “Super-Rich Tax Act of 2021,” has been filed by lawmakers from the minority bloc. The bill proposes that individuals with taxable assets that exceed P1 billion should pay a 1-percent tax. The bill also seeks to impose a 2-percent tax on taxable assets over P2 billion and 3 percent for over P3 billion.

The Department of Finance, however, has warned that a measure to impose a “super-rich” tax would encourage aggressive tax avoidance schemes and drive out capital and investments from the Philippines. Finance Secretary Carlos G. Dominguez III has said that only Belgium, Norway, Spain and Switzerland continue to implement the wealth tax.

Dominguez added that while the wealth tax could initially lead to gains in tax collections, it could, at the same time, discourage growth and investments in the long run.

The outgoing Finance chief further said that diminished investments will result in far greater revenue losses and fewer new jobs to help Filipinos recover from the pandemic.

Dominguez added that there is a risk of capital flight if a wealth tax is passed in the country.

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Wednesday, June 29, 2022

BTr to issue ₧200B in bonds in July

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By Bernadette D. Nicolas

@BNicolasBM

HE government will still try to borrow P200 billion from the local debt market in July, the first month of the incoming Marcos administration, despite investors’ relentless demand for high rates.

The Bureau of the Treasury (BTr) will be auctioning off next month P140 billion in Treasury Bonds (Tbonds) and another P60 billion in Treasury Bills (T-bills) to raise the amount.

Based on the schedule released by the Treasury, P35 billion in T-Bonds will be offered on each auction day for all four Tuesdays of the month. Reissued 4-year T-bonds will be offered on July 5 while 7-year debt papers

will be sold on July 12. Apart from these, 10-year and 14-year T-bonds will be auctioned off on July 19 and July 26, respectively.

On the other hand, P15-billion of combined 91-day, 182-day and 364-day T-bills will be offered for each of the four Mondays of the month.

In recent auctions, investors have been asking for higher yields on the back of expectations that the Bangko Sentral ng Pilipinas and the US Federal Reserve would continue to wield monetary policy to tame inflation hobbling economic recovery.

Last Tuesday, the Treasury also failed to raise money in its last government securities auction under the Duterte administration as it was forced to reject all bids due to the

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“excessively” high rates demanded by investors.

No bids for the P35-billion offering of reissued 7-year T-Bonds were awarded by the auction committee as the security would have fetched an average rate of 6.947 percent, higher than the benchmark secondary market rates.

“Market excessively-priced risk premium in [the] offering just issued recently,” National Treasurer Rosalia V. De Leon said.

Had these were fully awarded, the debt paper would be higher by 32 basis points than the Bloomberg Valuation Service (BVAL) Reference Rates for the tenor at 6.627 percent and up by 31.1 basis points than the BVAL rate for the security itself at 6.636 percent.

The auction was oversubscribed as total bids reached P62.3 billion, exceeding the amount of offering.

For this year, the government is expected to borrow a total of P2.2 trillion, around 75 percent of which is expected to come from domestic sources.

The national government’s borrowing tack has pushed debt-toGDP ratio to a 17-year-high at 63.5 percent. That is above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. The ratio of debt to gross domestic product (GDP) is also the highest since the 65.7 percent recorded in 2005 under the administration of then-President Gloria M. Arroyo.

Clark International Airport Corp. remits ₧176M to national treasury

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LARK Freeport Zone—The government-run Clark International Airport Corp. (CIAC) reported last June 28 that it has remitted a total of P176,739,971 this year as dividends to the Bureau of Treasury (BTr) that contributed to the national government’s funding requirements for Covid-19 responses.

“Despite the overwhelming challenges at the Clark aviation complex brought about by the pandemic, CIAC’s operational flexibility and fiscal discipline has generated an upward annual profit margin from 16 percent to 27 percent and thereafter to 46

percent from 2019 to 2021, and thus, our capacity to remit dividends,” CIAC President Aaron N. Aquino was quoted in a statement as saying.

From the total amount of dividends settled, P156.74 million was remitted on May 5 and P20 million last May 16; payments derived from revenues in managing the aviation complex.

Aquino added this year’s remittance is 35-percent higher than the P130.5-million contribution of the agency to the national treasury at the height of the Covid-19 outbreak in 2020.

“In the coming years, we hope to sustain and even increase CIAC’s modest contribution to the national government funds by improving the business climate here at the Clark aviation complex, encourage more foreign investments, and promote post-pandemic economic recovery, as well,” Aquino said.

Compliance

CIAC dividends remitted comply with Republic Act 7656, a law that directs all government-owned and -controlled corporations (GOCC) like CIAC to declare and remit at least 50

UnionBank issues digital peso bonds

U

NION Bank of the Philippines (UnionBank) announced it successfully issued the country’s first-ever offering of digital peso bonds, raising P11 billion worth of 1.5-year fixed rate bonds.

The digital bonds were issued as a “proof-of-concept” through the digital registry and digital depository, a new blockchain-powered infrastructure by the Philippine Depository & Trust Corp.

(PDTC) and Philippine Dealing & Exchange Corp. (PDEx) in partnership with the Singapore based financial technology company Hashstacs Pte. Ltd. “Despite the volatile rate environment, the digital bond offering garnered robust participation from retail and institutional investors resulting to an 11-times oversubscription rate from the initial offer size of P1 billion,” a statement from UnionBank read.

It added that Standard Chartered Plc. supported the initiative as one of the joint lead arrangers, bookrunners and selling agents for the offering.

The lender added that the achievement of this “proof-of-concept” issuance “paves the way for the potential widespread adaptation of distributed ledger technology (DLT) in the local capital markets.”

“A first in the Philippines, this issuance further unlocks the potential of blockchain technology

to be a gamechanger and great disruptor in finance,” UnionBank Treasurer and Head of Global Markets Jose Emmanuel U. Hilado was quoted in the statement as saying.

Orders tokenized

UNIONBANK said it was in 2020 when it partnered with Standard Chartered Plc. in the successful completion of a proof-of-concept for the issuance of a retail bond on a digital platform leveraging blockchain technology for bond tokenization.

“Orders received were tokenized, and to stay within existing retail bond guidelines, tokens issued mirrored the traditional transaction but were not allocated directly to investors,” the lender said. SC Ventures Inc., built and co-created the bond tokenisation platform with UnionBank, added the ninth-largest bank in total assets.

According to Standard Chartered Plc. Executive Aaron Gwak, the success of these “proof-ofconcept” issuances demonstrates “how the power of blockchain

technology is shaping the future of capital markets.”

“We have seen the dynamic development of digital bonds in the Asean [Association of Southeast Asian Nations] region with UnionBank’s maiden offering of digital bonds in the Philippines being the latest addition,” Gwak, Standard Chartered’s managing director and head of capital markets for Asean, was quoted in the statement as saying. “While this issuance utilizes DLT for the backend infrastructure for the registry and depository operations, this serves as a stepping stone to further enhance infrastructure for investor experience towards full democratization of bonds.”

“Access to capital markets is an important enabler of progress and economic growth,” Lynette V. Ortiz, Standard Chartered Plc.’s CEO for its Philippine office, was quoted in the statement as saying. “This successful issuance opens a host of possibilities in the digital bond space, and another step towards financial inclusion.”

EY pays $100-M SEC fine over CPA ethics exam cheaters

RNST & Young (EY) LLP admitted that dozens of its audit personnel cheated on the ethics portion of the Certified Public Accountant exam and that the firm misled US regulators probing the misconduct, according to the Securities and Exchange Commission (SEC).

The SEC announced last Tuesday that EY would pay a $100-million fine—the largest-ever penalty for an audit firm. In addition to violating accounting rules, EY didn’t cooperate with a key part of the regulator’s probe, the agency said.

Almost 50 EY audit employees improperly shared answer keys to the ethics portion of the CPA exam

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between 2017 and 2021 and hundreds more cheated on continuing professional education courses, the SEC said.

The firm didn’t immediately respond to a request for comment sent outside of normal business hours on June 28.

Despite having been informed of possibly dishonest behavior, the firm conveyed to the agency that it didn’t have a problem with cheating. The auditor then failed to promptly correct those statements when it later launched an internal investigation.

Many EY employees knew that their behavior violated the company’s code of conduct, but some still

did it because they couldn’t pass on their own, according to the SEC. The firm ultimately disciplined and, in some cases, fired individuals for their actions, according to the SEC, which said its investigation is ongoing.

“It’s simply outrageous that the very professionals responsible for catching cheating by clients cheated on ethics exams,” Gurbir Grewal, the head of the SEC’s enforcement division, said in the statement. “It’s equally shocking that Ernst & Young hindered our investigation of this misconduct.”

In addition to the record penalty, EY must hire two separate consultants to examine its ethics policies and another to review dis-

closure failures.

The firm has been sued by Wall Street’s main regulator other times in recent years. Last August, EY paid about a $10 million penalty to the SEC for violating auditor independence rules. In 2016, it was penalized $9 million to settle claims of inappropriate relationships with clients.

EY’s record SEC penalty follows a $50-million fine against KPMG LLP in 2019 for cheating on internal training exams, as well as for altering past audit work after receiving stolen information from an industry watchdog. KPMG also admitted wrongdoing in settling that case.

Bloomberg News

percent of their net earnings to the National Treasury.

CIAC is the agency tasked to develop the Clark Civil Aviation Complex (CCAC), home to the privately-run Clark International Airport, as well as the mixed-use business district Clark Global City and several locators in cargo and aviation-related businesses.

In its annual report, CIAC reported a net income for the calendar year ended 2021 of P255 million, which is 103-percent higher than the prior year’s financial results. The CCAC operator said the increase is mainly

attributable to the higher overall income by P86 million and lower total expense by P46 million.

The CIAC added that service and business income increased by P44 million as a result of a dozen “new lease agreements perfected in 2021.” In addition, CIAC reported “an increase in gains by P36 million primarily from foreign currency trading and revaluation of dollardenominated funds.”

CIAC said its cash and cash equivalents stood at P2.5 billion at yearend, reflecting a 23-percent decrease as compared to 2020 figures.

AUB sees rosier results amid headwinds in ’22

This December 2, 2019 photo, shows the façade of a branch of Asia United Bank.

CREDIT: Asia United Bank Corp.

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XECUTIVES of Asia United Bank Corp. (AUB) said they expect the lender to further improve its position as one of the country’s fastest-growing publiclylisted universal banks even as it braces for several headwinds in 2022.

During its Virtual Annual Stockholders Meeting last June 24, AUB President Manuel A. Gomez said “the Bank is definitely looking at improved profitability in 2022 despite the realization that it will be another challenging year overall for the economy.”

“2022 will not likely be the year that banks will return to their prepandemic growth levels,” Gomez added. “Aggressive business growth will still be sidelined in favor of greater liquidity and stability.”

“Thanks to improving business and consumer confidence that gave its core business a boost, the bank was also able to breach its end-2021 target of P4 billion, with a consolidated net income of P4.1 billion in 2021, 34-percent higher than P3.0 billion in end-2020,” the bank’s statement read.

“This translated to a return on assets of 1.3 percent and a return on equity of 11.1 percent coming from year-ago’s 1.0 percent and 8.9 percent, respectively.” In the first three months of the year, AUB posted a consolidated net income of P1.3 billion, 78.8-percent higher than P736.0 million in the same period in 2021.

Headwinds ahead

THE lender cited “plenty of head-

winds ahead,” such as an escalating inflation rate due to the country’s heavy import dependence, the shrinking value of the peso versus the US dollar and rising pressures to raise taxes. Nonetheless, the bank said it “can still manage to improve its net interest margin ratio which stood at 3.6 percent in 2021.”

This can be achieved by growing its low-cost current account/savings account (CASA) funds, which rose to nearly P220 billion in 2021, “not only an all-time high for AUB but also one of the highest in the industry.”

AUB executives said they also expect the bank “to continue reaping the benefits of digitalization by increasing its productivity and operational efficiency.”

Amidst the increasing cost of doing business, AUB managed to keep a lid on its total operating expenses in 2021, which fell by 29 percent to P7.9 billion versus year-ago. The group also posted a cost-to-income ratio of 42.4 percent in 2021, better than the industry level.

Among the biggest contributors to its bottom lines in 2021 were its commercial and branch banking businesses, accounting for 56 percent (P2.3 billion) and 50 percent (P2.0 billion), respectively, of AUB’s P4.1-billion net income.

“We expect 2022 to be a better year if we continue our hard work, agility to respond to evolving challenges in our operating environment, and vigilance against the emerging variants of Covid-19,” Gomez said.

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Show BusinessMirror

Wednesday, June 29, 2022 • Editor: Gerard S. Ramos

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Today’s Horoscope

AUSTIN BUTLER in a scene from Elvis, which shook up North American theaters with an estimated $30.5 million in weekend ticket sales. AP

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Camila Mendes, 28; Sharon Conley, 51; Melora Hardin, 55; Gary Busey, 78.

HAPPY BIRTHDAY: Your expectations and energy level are high this year. Having a strategy in place and a goal in mind will be essential if you want to take advantage of opportunities that come your way. Be bold but willing to compromise, and be passionate without overreacting. Your numbers are 7, 10, 19, 26, 35, 41, 47.

INDISCRETIONS

ONE of the reasons why a showbiz couple broke up allegedly involves a minor. The guy was said to have done something with a male masseur, who happened to be a minor. This was only one of the guy’s indiscretions as he allegedly cheated on the girl with many other individuals. He also had issues with money and, for the girl, it was one mistake after another. To add to all these, the guy also has anger management issues. She’s been so forgiving of him and the guy seemed to have assumed that she would always look the other way. Well, she finally learned to say “enough” and left him.

SOON TO BE A MOM

THIS actress made a scene when she started badmouthing her screen partner just because he didn’t reciprocate her attention. She would tell people that he had money problems and that he didn’t want her because he liked men. Well, all that backfired on her as the guy is universally liked. The news is that she is pregnant and can’t break the news to the public because she’s scared to be judged by her screen partner. It’s sad because before they teamed up, she didn’t have a great career. The partnership was something the guy didn’t need because he was already doing okay.

MENTAL HEALTH ISSUES

SO a former beauty queen made a posts on Facebook accusing her daughter, husband and other people of, among other things, kidnapping and abduction. It’s unclear what happened between them. What is clear, according to sources, is that the former beauty queen has mental health problems. These problems are what caused her to lash out at her daughter and other family members. According to the beauty queen’s family, all the accusations are untrue. The actress actually made a public appearance recently and many people commented that things don’t seem to be well with her.

ARIES (March 21-April 19): Have a plan that ensures you put pent-up energy to good use.

Avoid conflict, and focus on what’s important to you. A problem with a friend or relative will transpire if you aren’t diplomatic. HH

‘Elvis,’ ‘Top Gun’ tie for box-office crown with $30.5M each

N

TAURUS (April 20-May 20): Size up situations before getting involved. Look for the best way to use your skills. Attend a reunion or contact someone you haven’t seen in a long time.

Being responsible will help build trust and win favors.

HHHH

2, and I’m more concerned that we hit this big number given that this audience has been the slowest to return to movie theaters,” said Jeff Goldstein, distribution chief for Warner Bros.

About 60 percent of the audience for Elvis was over the age of 35. Older audiences have been among the most hesitant to return to theaters in the pandemic but that’s changing—in part, Goldstein noted, because of Top Gun, which brought back fans of the 1986 original.

Elvis, which cost about $85 million to make, was propelled by strong reviews (78 percent fresh on Rotten Tomatoes), good word of mouth (an “A-” CinemaScore) and a glitzy Cannes Film Festival premiere. It added $20 million overseas over the weekend. Elvis ranks as Luhrmann’s second best opening after 2013’s The Great Gatsby ($50.1 million).

Luhrmann was on the cusp of beginning production in Australia when, in an indelible early moment in the pandemic, star Tom Hanks tested positive for Covid-19. Meanwhile, Top Gun: Maverick continues to soar. The Paramount Pictures film became the first 2022 release to reach $1 billion in worldwide ticket sales, and the first starring Tom Cruise to do so.

In its fifth weekend of release, Maverick dipped just 32 percent domestically to bring its total so far to $521.7 million in US and Canadian theaters. It continues to move up the record books, sitting 15th all-time domestically, not accounting for inflation.

Internationally, the Top Gun sequel added another $44.5 million.

Counterprogramming came from Universal Pictures’ The Black Phone, the Scott Derricksondirected supernatural thriller starring Ethan Hawke as an escaped killer. The Blumhouse production rode strong reviews (84 percent fresh on Rotten Tomatoes) to a better-than-expected launch of $23.4 million.

After two weeks in first place, Universal’s Jurassic World: Dominion took in $26.4 million, sliding to third.

It’s now passed $300 million domestically, and hauled in $746.7 million globally. n

NO MORE

THE actress and her non-showbiz husband ended their marriage because the latter became tired of his wife for many reasons. One, she is very high maintenance emotionally. For him it was like taking care of a baby. Two, the actress seemed to have lost her identity. Three, she has a tendency to physically lash out when she is angry. The actress went to see her husband, who is based abroad, to beg him to take her back. Sadly, he has fallen out of love with her. He has also found a new love. He has reportedly been obsessed with finding a European girlfriend since he was young and he finally realized his dream.

By Jake Coyle The Associated Press

EW YORK—Baz Luhrmann’s Elvis Presley biopic Elvis shook up theaters with an estimated $30.5 million in weekend ticket sales, but—in a box-office rarity—Elvis tied Top Gun: Maverick, which also reported $30.5 million, for No. 1 in theaters.

Final figures on Monday, once Sunday’s grosses are tabulated, would have already sorted out which film ultimately won the weekend. But for now, the unlikely pair of Elvis and Maverick are locked in a dance off (if you favor Elvis) or a dead heat (if you prefer Maverick).

That it was this close at all was due to both a betterthan-expected opening for Elvis and remarkably strong continued sales for Top Gun: Maverick. The Top Gun sequel reached $1 billion in worldwide box office in its fifth week of release.

Elvis, starring newcomer Austin Butler as Presley, came into the weekend with expectations closer to $25 million. Among recent music biopics, a $30.5 million debut puts the King ahead of the pace of Elton John (Rocketman launched with $25.7 million in 2019) though not in the same class as Freddie Mercury (Bohemian Rhapsody opened with $51.1 million in 2018).

“I’m less concerned with who’s No. 1 and who’s No.

prize amounting to P150,000 and a Balanghai trophy during the Cinemalaya Awards Night on August 14 at the CCP Tanghalang Nicanor Abelardo (CCP Main Theater).

On its 18th year, the Cinemalaya returns to on-site screenings after its successful online streaming. The film festival is an all-digital film competition that aims to discover, encourage and support the cinematic works of Filipino filmmakers that boldly articulate and freely interpret the Filipino experience with fresh insight and artistic integrity.

More information is available at www.culturalcenter.gov. ph and www.cinemalaya.org.

Busay (Vision of the Falls) by Nino Maldecir and Cyphor John Gayorgor; Kwits by Raz de la Torre; Roundtrip to Happiness

by Claudia Fernando; See You, George! by Mark Moneda; and Si Oddie by Maria Kydylee Torato.

The selection committee, composed of Teddy Co, Joel Ruiz, Manet Dayrit, Lee Briones, and Martika Escobar, confirmed the finalists after intense deliberation of 199 submitted entries. The 12 short feature film finalists will be screened during the 2022 Cinemalaya Festival, happening from August 5 to 14 at various CCP venues and select partner cinemas. The best short feature film will be awarded a cash

CANCER (June 21-July 22): Think twice before saying or doing something you may regret. You’ll be prone to overreacting or making assumptions that can get you in trouble. Slow down, live in the moment and think the best instead of the worst. HHH

LEO (July 23-Aug. 22): Evaluate a sensitive situation, and don’t agree to anything that can disrupt your plans. Take relationships seriously, and discuss your feelings in-depth. Consider what others expect of you and the cost involved if you want to work in unison with someone. HHH

VIRGO (Aug. 23-Sept. 22): You’ll face competition. Be prepared to make a lastminute change if it will help you dissuade someone from getting in your way. Choose associates who are working amicably to get the same results as you. Make knowledge and experience your priorities.

HHHH

LIBRA (Sept. 23-Oct. 22): Your intelligence and charm will ward off the opposition. Be a good listener, and you’ll figure out how to outmaneuver someone trying to beat you. Put your energy into getting things done instead of arguing with someone who will never see things your way. HH

SCORPIO (Oct. 23-Nov. 21): An open mind will stimulate your creative imagination. Do something that gets you out of the house, and use your skills and experience to make your life fun.

Have a positive outlook. A change of scenery will lead to new beginnings. HHHHH

SAGITTARIUS (Nov. 22-Dec. 21): Joint ventures and shared expenses will leave you in limbo. You are better off fending for yourself and focusing on what makes you happy. Surround yourself with people who share your dreams, not someone who wants to change you. HHH

CAPRICORN (Dec. 22-Jan. 19): Stick close to home and your loved ones. Don’t get swept up in a scam that offers unrealistic profits. Put your energy where it will contribute to stability, personal security and peace of mind. Don’t divulge secrets.

HHH

Cinemalaya announces 2022 short film finalists THE Cultural Center of the Philippines and the Cinemalaya Foundation Inc. reveal the competing films in the Short Film Category of the Cinemalaya Philippine Independent Film Festival 2022.

The 12 finalists are Ampangabagat Nin Talakba Ha Likol (It’s Raining Frogs Outside) by Maria Estela Paiso; Black Rainbow by Zig Dulay; City of Flowers by Xeph Suarez; Dikit

by Gabriela Serrano; Distance by Dexter Paul de Jesus; DuwaDuwa by Nena Jane Achacoso; Mga Handum Nga Nasulat Sa Baras (The Dreams That Are Written in the Sand) by Arlie Sweet Sumagaysay and Richard Jeroui Salvadico; Mata Kang

GEMINI (May 21-June 20): Allocate your money wisely. Don’t spend unnecessarily or let anyone talk you out of your hard-earned cash. Your generous nature will get you in trouble. Look at how best to use your attributes to help others. Self-improvement is featured. HHH

AQUARIUS (Jan. 20-Feb. 18): Don’t do what you don’t like or feel obligated to take on someone’s responsibilities or dreams. Make your home your sanctuary, and you’ll find peace of mind. Surround yourself with people you love. Take only what you need. HHH

PISCES (Feb. 19-March 20): You’ll have great ideas, but they won’t be cheap. Budget to see what you can afford before you jump into a grand plan that leads to a stressful situation. You will avoid a costly mistake by thinking matters through.

HHHHH BIRTHDAY BABY: You are caring, helpful and thoughtful.

You are inventive and responsive.

‘genre-bending’ BY KEVIN SHUSTACK The Universal Crossword/Edited by Amanda Rafkin

ACROSS 1 Cruel smile 6 Makes a pick 10 Folk singer Guthrie 14 Parallel Mothers director Almodovar 15 ___ talk (honest conversation) 16 Stink 17 Elite crew 18 Tracy Chapman, vocally 19 Bike selection 20 AOL rival 21 23andMe competitor 24 Persnickety 25 The Little Mermaid collectible 26 Go by, as time 29 Four-sided dice, e.g. (last 3 letters of this answer + the start of 34-Down) 35 Go by, as time 37 “Jane ___” 38 Shofar horn source 39 “Semper Fidelis” composer 40 Prop for a ball 41 Haim of Licorice Pizza 43 Fish kissed in Newfoundland 44 Conceited 46 Farmers market sights

47 50 51 52 54

Advice lead-in Acts lovey-dovey Reddit Q&A Work space “...but no less” (Last 4 letters + the end of 53-Down) 59 Woman in Progressive ads 62 Word before “a blank” or “the line” 63 Steamy resorts 64 One may be forwarded 66 Vibe 67 Grin’s “ends” 68 Smoothed, as a sand trap 69 Gym shorts material 70 ___ mater 71 Has to have DOWN 1 Inbox annoyance 2 Clears after taxes 3 Starter home?

4 Part of BCE 5 Like Mercury or Venus (First 4 letters) 6 Prophet 7 One-named soccer legend 8 Pieces of body art, for short 9 Toy racer

10 11 12 13 22 23 24 26 27 28 30 31 32 33 34 36 40 42 45 46 48 49 53

It has many diamonds Saxophone accessory Like low-fat meat Its pods go into gumbo Comedian Bargatze Microwave, as leftovers Egyptian snakes Home Alone costar Joe (Last 3 letters + the start of 47-Across) Standoffish ___ Arabia Itty-bitty Bread that might be marbled Cleaning product that anagrams to 33-Down Total stranger, informally Build up “Help!”

Black ___ (dress code) Deficiency Shrunken Asian lake Takes legal action “Sad trombone” sound Texan city supposedly named after a Ukrainian city Not lenient

54 55 56 57 58 59 60 61 65

Spare rib supplier?

50-50 test guess Does some paving Australian gem Toasty Like fair-weather friends Twisted the truth 12-year-___ (some tweens) Hollywood legend West

Solution to today’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

Delegating effectively

PHOTO BY AIRFOCUS ON UNSPLASH

their current workload to see if they have enough time to complete the task. Otherwise, they might feel overburdened.

Clearly communicate the expected outcome from the task and the attendant risks and limitations.

Part of this is explaining why they were chosen to do the task and what specific skills you want them to develop. Your team members need to understand that you are committed to their professional growth and that you are not just passing on work. They need to see how it benefits them and their career, and your clear expectations so they can be empowered to critically think of creative solutions for problems they might encounter.

You also need to provide the necessary tools and training to effectively carry out the task. Your role as a people manager is to clear roadblocks and ensure they have the right tools to be successful. Part of that is giving them delegated authority to decide on certain aspects of the task and the conditions when they absolutely must seek your permission. You need to set clear expectations of when you need to be immediately consulted.

During the task, use project management tools to monitor their progress and set milestones. Avoid micromanaging as much as possible, but depending on how much you know your team’s capability, you can check in on them as needed. It is understandable to check in with them more frequently at the beginning of the task but as it progresses, you need to back off and let them finish on their own. The

autonomy will help them have better control on the outcome of their delegated task and increase their sense of accountability for the results.

Set a regular schedule for catch-up on progress so you can provide guidance as needed, and determine the help needed from you. But do not stop there. Your team needs to provide recommendations so they can practice their critical thinking and decision-making skills. Delegated tasks can provide a multitude of learning opportunities for your team, but it is up to you as their manager to make them realize those lessons.

You should not accept work that does not meet the desired outcome, or else your team will not know how to properly do the task. You need to provide guidance as much as you can, but they should ultimately be responsible for the results and part of that is making them own up to their opportunities for improvement.

It is important to assess what can be improved so they do not commit the same mistake again.

Most importantly, publicly praise your team when they successfully finish a task. This motivates them further and cements the lessons learned from their experience.

The bottomline is that delegation is all about trusting your team to do the assigned tasks. When you delegate, you are essentially telling them that you believe in their capacity to do the task well, and that you are investing in their growth and development.

When you delegate tasks, you are telling them you trust them and you believe in them. n

PANDEMIC’S IMPACTS ON HOW PEOPLE LIVE AND WORK MAY CHANGE CITY CENTERS FOR DECADES TO COME

By Andrii Parkhomenko University of Southern California IF companies allowed more of their employees to permanently work from home, businesses would gravitate toward city centers, while people would primarily live in the periphery, resulting in less traffic congestion and falling real estate prices downtown.

Those are our main findings from a model we created to forecast pandemic-driven changes in Los Angeles.

Many of these changes were beginning to happen back in the spring of 2020, when we began this research. We wanted to build a model that could show the effects of more widespread telecommuting over a long period of time post-pandemic.

Our model is like an artificial world—think Sim City—in which virtual people choose where to live and where to work. Virtual companies provide jobs to workers, while virtual real estate developers provide offices, warehouses and housing, setting prices that match supply with demand.

Using pre-pandemic information about where people lived and worked as well as their commutes, we built the model of the Los Angeles metropolitan area with economist Matt Delventhal. The model also uses pre-pandemic data on commercial and residential real estate prices.

From 2012 to 2016, fewer than 4 percent of workers telecommuted in the Los Angeles metro area, according to our calculations from the American

Community Survey. Today that figure is nearly 40 percent. Based on estimates that about a third of workers in Los Angeles have jobs that could be done remotely, our model predicts three important longterm effects if telecommuting at around this level becomes permanent: n Residents would increasingly move from city neighborhoods to the suburbs, while companies would gravitate to the center. n Average residential and commercial real estate prices would fall in central city locations, while housing prices in the suburbs would increase. n Traffic congestion would ease everywhere and commuting time would drop.

The pandemic's arrival in early 2020 upended daily life for millions of American workers and the businesses that employ them.

Working at home, uncommon before the pandemic, became a necessity, which led employers and workers to realize that telecommuting is pleasant and productive. This resulted in large migrations of people who became untethered from their employers.

In Los Angeles, increased telecommuting led workers to relocate to the suburbs, driving up real estate prices. Our model takes this a step further and assumes these changes will become entrenched.

This prediction may be coming true. NPR recently reported that since 2020, homebuyers relocating from cities have been driving lower-income renters out of the suburbs.

This suggests our model can be a valuable tool

B5

UN celebrates World Bicycle Day

I

USED to work for someone who would give us last-minute tasks which he expected us to finish within the day. This went on for a while until several of my colleagues quit and their main reason was the workload. We found out later that he resigned for the same reason. When management talked to us, we discovered that our manager was hoarding all the work and did not delegate enough tasks for us because he felt he was passing on work that he should be doing. And we also realized that we could have done some parts of the projects if only we had been asked. Our resigned manager did not know how to delegate.

People do not delegate for many reasons. Some are threatened that their team members will make them look weak and inexperienced, and they might lose control over their team. Some feel that it would be faster to do it on their own. Others feel that they are passing on their workload to others just like my former boss. But a manager’s role is to focus on guiding their team and equipping them so that they can be prepared for higher responsibilities. If managers do not delegate, they will be caught up in operations more than focusing on their team’s growth and development If you are handling a team, there are really some things that you should not delegate. These include tasks like hiring, appraisals, disciplinary actions, and others which are reserved solely for your position.

You also cannot delegate tasks which deal with emergency situations where decision-making should be clear and fast, and directions should come from a person of authority. If a task is too complicated that you would need more time explaining than doing it, it would be best to do it on your own.

But if a task consumes a bulk of your time but can be divided into smaller tasks which can be done by your team, you should delegate it. It will give your team the opportunity to learn part of your work and, at the same time, train them to develop new skills. If a task is repetitive and consistent, delegate the task and as they become more adept, you can increase levels of independence and even ask them to teach new members.

To improve the skills of your team, delegate tasks which will help them develop the foundational skills for new or more complicated tasks. You can even delegate tasks to team members who are more technically proficient to get the best results. To keep your team motivated, you can delegate tasks that provide them a break from office work to help them explore other areas of your team’s work which might be more interesting or challenging for them.

Before delegating a task to a team member, you need to make sure they are equipped or have the necessary skills to complete the task. You can even assign it to someone who will find the task interesting for them. More importantly, examine

• Wednesday, June 29, 2022

to help business leaders, economists, policymakers and others make informed decisions as they try to make sense of the pandemic's far-reaching economic impacts on their cities.

Here is what remains unknown: Any model is a simplification of reality. In our model, all the workers and employers are identical.

However, the real-life responses of different types of workers and businesses to increased telecommuting may vary.

Another important unknown is the ongoing effect of telecommuting on productivity. During the pandemic, employers and workers have not reported substantial productivity losses—if anything, workers have reported being a little more productive at home.

At the same time, productivity often benefits from opportunities to build and sustain professional networks. These networks may weaken as more people spend more time telecommuting.

We continue to observe and study how the rise in telecommuting may affect city centers. For example, barbershops, restaurants and other businesses that have long concentrated in traditional business districts may find they need to follow a large exodus of residents to suburbs or smaller cities to survive.

However, not every worker or business can relocate. Our newest paper models the distribution of jobs and residents across 4,502 US locations and explores well-being and income gaps emerging between those who can telework and those who can't.

THE CONVERSATION

THE United Nations (UN) Philippines, in partnership with SM, recently celebrated World Bicycle Day with a Fun Bike Ride around the SM Mall of Asia Complex.

The event also marked the UN Philippines’s first time to officially celebrate the UN day in the country.

Around 250 cyclists, led by UN Resident Coordinator in the Philippines Gustavo Gonzalez, joined the Fun Bike Ride. These included officials from UN Philippines; the embassies of the Czech Republic, Egypt, France, Indonesia, the Netherlands and Poland; and cycling advocacy groups including the Firefly Brigade.

World Bicycle Day draws attention to the benefits of using the bicycle—a simple, affordable, clean and environmentally sustainable means of transportation. The UN General Assembly declared June 3 as world Bicycle Day in 2018 to acknowledge the uniqueness, longevity and versatility of the bicycle which has been in use for two centuries.

In the Philippines, the UN values World Bicycle Day for the opportunity it offers to advocate its important climate goals, including: the promotion of inclusive and green mobility, reducing carbon emissions, helping advocate for the transition to green cities, and mobilizing Filipinos to use their bicycles for trips as much as possible, with a view to adopting healthy lifestyles.

“With all of these crucial advocacies carried by World Bicycle Day, riding our bicycles is a small act with great impact on achieving national and global goals,” Gonzalez said.

As part of its ongoing advocacy to promote a cycling culture and enable healthy, sustainable and inclusive mobility, SM Cares, the Corporate Social Responsibility arm of SM Supermalls, launched the Bike-Friendly SM initiative at the Mall of Asia in September 2020.

SM has since installed 1,155 bike parking facilities nationwide which can accommodate more than 8,400 bicycles; installed 86 bike repair stations across all malls, and has established a total of 19.75 kilometers of shared and dedicated bike lanes at the SM Mall of Asia and SM Seaside in Cebu; bike trail parks; and bikeand-dine facilities at many of its malls.

Highlights under the initiative include: the production of the country’s very first Biker’s Manual, in partnership with the Department of Transportation, the Department of Health, Department of the Interior and Local Government, and the MMDA. There were also bike safety clinics together with cycling advocacy groups like the Firefly Brigade and the Bikers United Movement. More recently, an SM employee outreach project, Bike Ride for A Cause in SM City Masinag, SM City Pampanga, SM City Bacolod and SM Lanang Premier served more than 700 beneficiaries.

CELEBRATING UN World Bicycle Day at the SM Mall of Asia.

From left: Pasay City Mayor Imelda Calixto-Rubiano’s chief of staff Atty.

Peter Pardo, UN resident coordinator in the Philippines Gustavo Gonzalez, UN Population Fund country representative Leila Joudane, and SM Mall of Asia senior assistant vice president Perkin So.

EMBASSY of the Czech Republic charge d’affaires Dalibor Micka and cycling vlogger Moses Amira.

DIPLOMATS at the World Bicycle Day celebration were (from left) Embassy of Poland vice consul Tomasz Danel and counsellorminister Anna Krzak-Danel, Czech Republic Embassy charge d’affaires Dalibor Micka, and the Netherlands Embassy deputy head of mission Pieter Terpstra.

B6 Wednesday, June 29, 2022

Park Inn by Radisson Bacolod and Iloilo offer sustainable menu, new culinary journey

Suzuki Opens ‘Doorway to the South’

THE Suzuki 3S Shop hosts the latest line-up of Suzuki's stylish, powerful and fuel-efficient motorcycles, including the affordable and well-loved maxi scooter, the Burgman Street.

T

HE Suzuki San Pablo Nick Motorcycle Gallery Combo Shop in Maharlika Hi-way, Brgy. San Francisco, Purok 4, San Pablo City, is the first Suzuki Combo Shop in Southern Luzon and is considered the brand's doorway to the South. It is also Nick Motorcycle Gallery's 2nd Suzuki exclusive store in the country.

This Suzuki 3S Shop aims to stimulate the appetite of motorcycle enthusiasts with an array of regular bikes and big bikes, and Suzuki is committed to providing quality service and products coupled with the best customer experience.

“This shop is your one stop store for Suzuki motorcycles – from scooters to semi-automatics, or underbones to backbone, to spare parts and after sales service. We have everything for you,” Suzuki General Manager for Motorcycles Sales and Marketing Jun Bulot said. “And

since it is a Suzuki, trust that what you get are quality bikes, that are: affordable, economical, and perform very well; and the big plus is the known, signature, good service from Nick Motorcycle Gallery.”

He went on to say, “This establishment is very promising especially for our Big Bike riders in Laguna, Batangas, and Quezon all the way down to the Bicol region who may be looking for Supersport, Adventure, Off-road or daily commute needs bikes.”

3S means Sales, Spare Parts, and Service. Suzuki is committed to provide optimum customer satisfaction by offering value-packed motorcycles, Suzuki Genuine Parts, and excellent service manned by competent personnel to assist its clients in their motorcycle needs.

The Suzuki 3S Shop hosts the latest line-up of Suzuki‘s stylish, powerful and fuel-efficient motorcycles, like the

maxi scooter Burgman Street, Skydrive Sport, Raider R150 Fi and the Raider J Crossover; alongside Suzuki's powerful backbones or full manual bikes – the Gixxer SF250, Gixxer 250, Gixxer Fi and the GSX-S150.

While the Big Bikes Center showcases the brand's higher displacement motorcycles, such as the Hayabusa, GSXR1000R and GSX-R1000, GSX-S1000 and its sibling GSX-S750, V-Strom 1050XT and V-Strom 650XT, SV650 ABS and the Burgman 400 ABS. In his ceremonial toast to inaugurate the 3S shop, Suzuki Motorcycles Regional Sales Manager Roland Raymundo recognized the “milestone of opening another 3S shop,” as he pledged to “look forward to more.”

“Let's continue to fill the roads with Suzuki motorcycles dahil oras na para mag-motor,” he said.

A

RIMA by Park Inn by Radisson Bacolod, unveils a new set of signature dishes inspired by Filipino flavors uplifted by modern culinary interpretations and quality locally-sourced ingredients. Arima's new menu includes a comforting selection of appetizers, salads, soups, and mains to accompany guests' usual favorites. The menu highlights include the restaurant's new signature longganisa pizza with unique toppings such as crisp molo chips from the famous molo soup and an unexpected sprinkle of malunggay powder. The restaurant also expanded its seafood menu selection by offering an elevated version of fish tinola using local catch-of-the-day and grilled blue marlin steak in caper sauce, served with a side of local vegetables.

The meat and seafood of the new menu are from sustainable sources, while vegetables come from local farms; this resonates with the brand's thrust on sustainable procurement, supporting the region's agricultural livelihood.

Ani by Park Inn by Radisson Iloilo takes its guests on another culinary journey around Asia through your palate as they bring the best-known Asian dishes from Korea, Japan, Thailand, and Indonesia to

smart and practical about it, and keep it within your means. For example, you really don’t need a 3-bedroom unit if you’re going to be living solo.

6. Check Home Loan Calculators Online

7. Get Pre-Approved

A

DMIT it—you feel a twinge of envy whenever you see a random person’s reel where they do their weekend house-cleaning rituals, languish on their beds or couches during rainstorms, or decorate their aesthetically appealing space. And then you start to wonder when you’ll be able to move out of the family home and finally get your own place.

The most important thing that you need to secure is a home loan, of course (unless you can pay for your future house in cash). To help you get approved for a home loan, make sure to do the following.

1. Fix Your Credit Score

A BAD credit score is one of the top reasons banks or lenders reject a home loan application. So before you apply for a home loan, do something to fix and clean up your negative credit history. Settle all your unpaid dues. Once you’re fully paid, secure a bank clearance as proof that you’ve cleared your debts.

2. Reduce Your Debts

ASIDE from your credit score, banks also look at your debt-to-income ratio, which ideally shouldn’t be more than 36% of

your gross monthly income. The fewer your debts, the better.

3. Be More Financially Stable

HAVING a stable and permanent job when you’re applying for a home loan is also crucial. Banks look at your capacity to make the loan repayments for the next, say, 10 to 25 years. If you keep on changing employers or if you’ve only started with your new company, you may want to wait until you’re more stable in your job before you send in your home loan application.

4. Boost Your Savings

YOU can borrow anywhere from 80% to 90% of the appraised value of the property. The remaining 10% to 20% will have to come out of pocket. This is why it’s important to have a significant amount of savings to help you pay for other expenses that go with home buying, such as down payment and miscellaneous fees.

5. Determine Your Financial Capacity and Your Budget

PICK a house, condo unit, or apartment that will be right for your budget. Be

IF the figures from the online home loan calculator look promising, you can try to get pre-approved.

A home loan pre-approval means that banks or lenders have looked at your financial background and determined how much you can afford for a home loan.

Getting pre-approved can save you valuable time because you can target your home search to your price level.

8. Choose the Right Home Loan

THERE are many banks you can go to for a home loan. But make sure not to send multiple home loan applications.

Instead, compare banks and lenders.

Choose by considering your preapproved loan quotation, if any, and looking at its interest rate, the maximum amount you can borrow, processing fees, and other loan charges.

You can apply for an RCBC home loan if you're at least 21 years old, with an employment tenure of at least a year, or running a profitable business for the past two years.

The minimum gross monthly income requirement for employed applicants is P40,000. You can even apply for an RCBC Home Loan online. Get a home loan starting from P300,000, and start your RCBC Home Loan application with just a few clicks and by answering a few questions.

Make that big move or that dream home happen this year. Call the hotline at +632-8877-7222, visit the website, or drop by an RCBC branch for more information.

their restaurant.

Weekday a la carte specials feature three famous noodle bowls packed with authentic spices and flavors.

On weekends, Ani elevates the Asian experience through an extensive buffet line-up. The Flavours of Asia buffet boasts signature dishes from the continent. Guests can savor a wide selection of delicious food, beginning with the traditional Balinese Beef Rendang and Korean Meuntang. While for some who prefer a slightly sweeter and savory taste, the Thai Shrimp Pomelo salad and the Pad Thai are the best ones to try.

Meanwhile, the all-time Filipino favorite Filipino Lechon Pork Belly and whole fish are carving dishes not to be missed!

HygieneClean: Innovative antibacterial technology

8 helpful tips to get your home loan approved IF you really want to know how much you’ll pay for your home loan, you can try home loan calculators online. RCBC has an online home loan calculator where you can compute your monthly payment based on the selling price, down payment, fixing option, and loan period.

ARIMA Blue Marlin Steak with caper sauce

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MERICAN Standard products, one of LIXIL’s portfolio global brands, and its complete bathroom solution, the HygieneClean System, is looking to remind consumers to practice good personal hygiene as part of continued all-round hygiene protection.

With its new HygieneClean campaign launched for 2022 and the tagline “Protect What Matters Most, Start with HygieneClean”, it looks to provide consumers with a start point for protection in the bathroom where bacteria such

as E. coli are known to propagate, and which requires regular cleaning. To help consumers with this, the HygieneClean System offers consumers powerful flushing and rimless technologies, innovative antibacterial technology, and an awardwinning anti-stain technology to ensure ultimate hygiene protection.

Satoshi Konagai, Leader, LIXIL Water Technology, Asia Pacific, highlighted, “We are committed to delivering pioneering products that will provide continuous protection for families as they spend more time at home in this new normal. The American Standard HygieneClean System ensures a safer and cleaner bathroom environment while also saving consumers time and resources when it comes to regular cleaning and maintenance. By placing hygiene and safety at the heart of our technological innovations, we hope to introduce this new standard of safety in the bathroom.”

The one-piece toilets in the American Standard collection are also equipped with SiphonMax Flushing System to remove both heavy and light waste with minimum effort or Double Vortex Flushing System for maximum flushing performance with minimum water usage.

In addition to this, such innovations and designs also provide other benefits such as time savings from not having to clean as often, without having to worry about the implications on hygiene for consumers.

For more information, visit https:// www.americanstandard.ph/hygieneclean-247-with-you.

CCP presents the solo exhibit of Clint Rey Policarpio

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HE Cultural Center of the Philippines is proud to present Daloy, the first solo exhibition of artist Clint Rey Policarpio. The venue grant exhibition, which was originally scheduled in 2020 but was postponed because of the COVID-19 pandemic, will run from 23 June to 24 July at the CCP’s Bulwagang Carlos V. Francisco (Little Theater Lobby).

Daloy is a collection of Policarpio’s works from 2012 to the present, which depicts an understanding of a lively Filipino community, with its rich history, nature, customary beliefs, and personality. Filipino art and culture are huge influences in Policarpio’s works, where concepts manifesting the life of its people and their surroundings flourish and continue to evolve. The impact of temporal experiences, of what’s seen and what’s felt, forms an inspiration for his lasting composition—detailing a scenic impression of places, events, and Filipino practices in a purely panoramic view, leaving more to the imagination. lint Rey Policarpio (b. 1988) is a visual artist and muralist based in Valenzuela City. He’s participated in mural painting events, group exhibitions, and numerous art competitions. Policarpio has been awarded the Grand Prize in competitions such as the

Shell National Student’s Art Competition (Watercolor category, 2013) UST Annual Onthe-spot Painting Competition (2013), the Blood Center of QC Art Competition (2013), and the PNOC Painting Competition (2013).

He was also a Finalist in the 2015 Metrobank Art and Design Competition, the Runner-up in the 2013 DFA Aseana Art Competition, and was given 1st Honorable Mention in the FEU On-the-spot Painting Competition in 2014.

For more information on Daloy, visit bit. ly/CCPdaloy.

Exhibition hours are from Tuesday to Sunday, 10am to 6pm, and are extended until 9pm on evenings with shows at the CCP Main Theater. For inquiries, contact the CCP Visual Art and Museum Division, Production and Exhibition Department, at telephone 8832-1125 loc. 1504/1505, email vamd@ culturalcenter.gov.ph.

BusinessMirror

Editor: Tet Andolong

Wednesday, June 29, 2022 B7

Smart buildings are changing the work landscape

By Rizal Raoul S. Reyes

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h e e me r ge nc e of smart buildings was a very welcome deve lopme nt i n t he sector as it trimmed the simple tasks, simplified communications and created a livelier and more productive office environment.

“As technology comes into play in a workplace, people become more efficient, and time is freed up for more engaging experiences,” said Jenny Soo, Regional Head of Workplace Experience at JLL Asia Pacific in her article posted on the JLL web site. “A smart building and thoughtful workplace experience create an environment that keeps people happy and builds a sense of belonging that can contribute to staff retention.”

Smart buildings also attract bright talents, according to a global study conducted by MIT Sloan Management Review and Deloitte saying “significant numbers of employees and executives are ready to leave companies that aren’t keeping pace with digital change.”

“A holistic blend of technology and personable service is key to nurturing great workplaces,” said Soo.

Showing the way

Bou tique developer A r t haLand is one of the leading developers of smar t bu i ld ings

and green office buildings. The 31-story ArthaLand Century Pacific Tower (ACPT) in Bonifacio Global City has garnered awards both locally and internationally. It was the 5-Star winner for Best Of f ice A rchitectura l Design in Asia at the 2017 Asia Property Awards and the winner for Best Green Development and Best Office Architectural Design at the 2017 Philippines Propert y Awards. It was also aw a rde d b ot h t he US Gre e n Building Council ’s Leadership in Energ y and Environmental Desig n (LEED) Platinum rating and the Philippine Green Building Council ’s Building for Ecologically Responsive Design Excellence (BERDE) 5-Star certification, the highest and most prestigious categories in both green building rating standards.

Jaime C. González, Vice Chairman, President and CEO of ArthaLand, said the company was thinking back then what would be the reaction of the market in their advocacy. He stressed going green defines the philosophy of the company. This goes beyond making money.

The pivot towards green development has paid off as Arthaland saw a rising demand for LEED and BER DE-certified sustainable office buildings, especially among transnational companies, because they provide positive impact in championing sustainable development.

The Taiwan Semicon Manufacturing Company is one of Armstrong’s major clients in Asia Pacific

The ArthaLand Century Pacific Tower (ACPT) has been awarded both the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) Platinum rating and the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (BERDE) 5-Star certification, the highest and most prestigious categories in both green building rating standards.

A potential market for smart buildings

According to A ndrew Harrop, global director, technical applications at Armstrong Fluid Technolog y, developing smart buildings is quite important in a Third World country like the Philippines.

Harrop told the BusinessMir-

ror in an e-mail interview that the business sector has a social responsibility to reduce their energy consumption and carbon emissions. “While smart buildings are not only about energy, maintaining and improving a building’s energy efficiency can certainly help improve the overall operational efficiency over its lifespan,” he said.

Like other Third World countries, the Philippines can attract organizations looking for investments in developing smart buildings aligned with their corporate social responsibilities. “It is vital that developing countries provide the appeal for the development of smart buildings in order to attract investors. Otherwise, investors may most certainly look elsewhere,” he said.

To operate smart buildings,

Harrop said it is essential to have stable connectivity services and a reliable IT infrastructure. He stressed infrastructure such as sensors, actuators, and microchips helps owners, operators, and facility managers improve asset reliability and performance, which reduces energy use, optimizes how space is used, and minimizes the environmental impact of buildings. “Connectivity technology like 5G is the prerequisite to the Internet of Things [IoT] that automates processes and for data centers located within the country to reduce latency and help bear the load of cloud-based analytics,” he explained.

The purpose of smart buildings is not just promoting efficiency.

Regulations like the Energy Efficiency and Conservation Act in the Philippines encourage the imple-

mentation of smart buildings to reduce energy consumption and carbon emissions. This paves the way for smart buildings and ultimately, smart cities, and it is no coincidence that major technology companies are increasing their presence in the country.

There are several advantages offered by smart buildings such as giving key insights into the building’s operations and allowing easy sharing of the building system’s data and intelligence.

Multinational corporations would be more than happy staying in a smart building as it would complement their own sustainability and operational policies. Anything that can help them monitor and achieve those goals will be extremely valuable and in fact, it will also encourage occupancy, according to Harrop.

Vista Residences offers easy move-in options with Ready to Move Deals

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ISTA Residences has been gearing for the influx of of students filling university belts, young professionals seeking secondary homes, and starting out families making their first property investment as the metro eases to the new normal.

Informed by the optimistic real estate outlook for the year, Vista Residences, the condominium arm of the Philippines’ largest homebuilder, Vista Land, is offering Ready to Move Deals to those aspiring to have their own space in the metro. The program, which

is available for its ready-for-occupancy (RFO) units, enables its buyers to pay starting at 5% down payment, save on discounts, and move in easily to their new condominium property.

Aspiring condominium unit owners may also pay the full property

Easy access to lifestyle amenities can be enjoyed by residents in Vista Residences RFO properties.

Whether for students looking for spaces near schools or starting families looking for properties in central business districts, Vista Residences offers RFO units to move in easily to.

Condo unit seekers can choose to move in on a compact studio or the more flexible one- to two-bedroom units through Vista Residences Ready to Move Deals.

amount one-time and get 20% off, while those who will pay 10% down payment may benefit from a 10% discount. Vista Residences also ensures that those who are particular with their cash flow will be able to move in to their dream condominiums with its regular payment option, 10% down payment payable in 12 months. Note that these offers are only applicable through bank financing and are subject to change without further notice.

Keeping these Ready to Move Deals in mind, what makes Vista Residences RFO units a worthy investment for condominium seekers?

Vista Residences RFO units are fully constructed, set to be turned over, with easy access to sensible and functional amenities and is near university belts, central business districts (CBDs), and staycation locations within and outside Metro Manila.

Innovations in digital efforts and modernization in processes and assets make availing of a condominium unit in Vista Residences considerably straightforward. Through online reservation and payment, ease in documentation and requirements, and online after-sales assistance, buyers are assured that owning a property is truly hassle-free.

Lastly, the value of condominiums grow over time like any other real estate developments; thus, not only do buyers get to enjoy a physical property, they will also see their investments appreciate for years to come.

For more information on Vista Residences condominiums and Ready to Move Deals, visit their website www.vistaresidences.com.ph, like and follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, YouTube, or get in touch with a Marketing Representative at (0999) 886 4262 and (0917) 582 5167.

Sports

INTERNATIONAL Volleyball Federation President Ary da Silva Graca congratulates Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino and Philippine National Volleyball Federation President Ramon “Tats” Suzara (third from left).

Also in photo are FIVB General Director Fabio Azevedo (left) and Graca’s wife Marina.

BusinessMirror

B8

| Wednesday, June 29, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FIVB president praises POC, PNVF

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IMBLEDON, England—Novak Djokovic’s play was not particularly, well, Djokovic-esque, at Wimbledon on Monday.

Even he acknowledged as much.

He got broken early and trailed 3-1 as he began his bid for a fourth consecutive championship and seventh overall at the grass-court Grand Slam tournament. He recovered to take that set, then dropped the next. He slipped and fell to the grass. He accumulated more unforced errors than his opponent.

Maybe he was a bit under the weather—he grabbed tissues from a black box on the sideline and blew his nose. Maybe he was simply a bit off, not having played a match that mattered in nearly a full month.

This, though, is the top-seeded Djokovic, and there’s a reason he extended his winning streak at the All England Club to 22, and his career victory total there to 80—making him the first player in tennis history with at least that many at each major—by beating Kwon Soon-woo of South Korea, 6-3, 3-6, 6-3, 6-4, at Centre Court under the retractable roof.

And there’s a reason that friends of the wife of Kwon’s coach, Daniel Yoo, held up decorated signs in a player guest box bearing Korean messages that Yoo said meant “Fight!” and “Don’t get hurt!”

So Kwon walked on court jittery.

But after just two games, the 81stranked Kwon said through Yoo’s translation, “I felt like, ‘Oh, this is doable.... I can hang with him a little bit.’”

With the exception of a loss for No. 7 seed Hubert Hurkacz, a semifinalist at the All England Club a year ago, Day 1 signaled a fairly routine return to pre-pandemic normal, with capacity crowds, zero masks, the Wimbledon Queue in full effect and, of course, on-and-off-andon-again showers.

Hurkacz, coming off a grass title over the weekend, lost 7-6 (4), 6-4, 5-7, 2-6, 7-6 (10-8) to Alejandro Davidovich Fokina in a match that featured Wimbledon’s new final-set format: women’s third sets and men’s fifth sets that get to 6-all will go to a first-to-10and-win-by-two tiebreaker.

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DJOKOVIC TEETERS ON DAY 1 That might as well be called the John Isner Rule, owing to the American’s 70-68 fifth-set victory over Nicolas Mahut in 2010 and 2624 fifth-set loss to Kevin Anderson in 2018, both at Wimbledon, both before the tournament adopted deciding-set tiebreakers.

On Monday, Isner was back on Court 18, the site of the Mahut marathon, and smacked 54 aces in a 6-7 (6), 7-6 (3), 4-6, 6-3, 7-5 victory over Enzo Couacaud. Isner’s next match figures to be held at a bigger court, because he’ll be facing Andy Murray, who has won two of his three major championships at Wimbledon.

Murray’s 4-6, 6-3, 6-2, 6-4 win over James Duckworth came at Centre Court and followed another triumph there by a British major title winner, reigning US Open champ Emma Raducanu.

“From the moment I walked out through those gates, I could really just feel the energy and the support and everyone was behind me from the word ‘go,’” the 19-year-old Raducanu said after defeating Alison Van Uytvanck, 6-4, 6-4. “I just really tried to cherish every single point out there. Played every point like it could have been one of my last on that court.”

Djokovic, a 35-year-old from Serbia, had not played since losing to rival Rafael Nadal in the French Open quarterfinals and it seemed to show.

Kwon’s piercing, flat groundstrokes and soft drop shots were effective for stretches. AP

Streaking Tropang Giga face skidding Batang Pier

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NT Tropang Giga tries to keep extend its winning streak to three games against skidding NorthPort on Wednesday in the Philippine Basketball Association Philippine Cup at the Smart Araneta Coliseum.

The Tropang Giga’s scoring machine Mikey Williams will be on the watch list of the Batang Pier in the 6 p.m. duel where TNT will be eyeing its sixth win in seven starts against their opponents who won back-to-back to kick of their season but lost three straight for a 2-3 card at eighth place.

Five days after returning from active duty, Williams is back in his elements with 27 points, seven assists and six rebounds in TNT’s 87-72 win

over Phoenix Super LPG last Sunday. He wasn’t in peak form with a 15-points performance in their 89-85 overtime win over Rain or Shine in his first game this season.

He went 5 of 20 last Thursday, but redeemed himself Sunday by making half of his 20 attempts against the Fuel Masters.

Now, the 30-year-old G League guard expects to be as explosive against NorthPort.

IF Novak Djokovic’s not so much in his elements on Day One at the AllEngland Club, reigning US Open champ Emma Raducanu’s feeling the energy. AP

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stage wins, also missed the cut. He was named as first-reserve rider despite winning the British national title over the weekend.

“Concerning our reserves, we must stress out that they showed a lot of professionalism, continued to train and remained focused in these past couple of weeks,” Quick-Step Alpha Vinyl sports director Tom Steels said.

The Belgian outfit will be led by another sprinter, Fabio Jakobsen, who posted 10 victories this season. Alaphilippe only resumed racing last weekend at the French national championships.

Djokovic off to good start WIMBLEDON is on and the world pauses anew to savor tennis’ third major unfurl on the famed grass courts of royal England.

HILIPPINE sports took a bow at noon on Monday after the president of the International Volleyball Federation (FIVB) heaped praises for the national federation for its excellent hosting of the Volleyball Nations League (VNL) and the Philippine Olympic Committee (POC) for its strength in successfully settling issues regarding the sport’s national association.

And with picturesque Taal Volcano as a perfect backdrop from the Knights Templar Hotel view deck in Tagaytay City, FIVB President Ary da Silva Graca expressed his gratitude to POC President Rep. Abraham “Bambol” Tolentino for his professional handling of the rift that forced the world governing body to “suspend” Philippine volleyball for almost one Olympic cycle while recognizing a provisional national sports association.

“Thank you very much [again] Mr. President [Tolentino] … not only for the extraordinary lunch, but you helped us solve the problems here in the Philippines,” Graca told Tolentino during his entourage’s lunch visit on Monday in Tagaytay City where he was treated to a sumptuous lunch of chicken and pork adobo, sinigang na bangus, ensaladang talong and crispy pata.

“You are very strong,” added

“There’s another game that we have to take care of—and the next on the list is NorthPort,” Williams said.

“We have to take care of business again by being locked in and executing the task at hand.”

Lurking at fourth place in the standings, Williams believes TNT’s titleretention campaign is on the right track.

“I think each and every day the objective is to get better in every way, we have to be in the best shape and form,” he said. “If we keep that in mind and strive to reach the goals we set to accomplish, we will be right where we want to be.” Josef Ramos

HE Premier Volleyball League (PVL) launched its Invitational Conference in an elaborate Philippine Sportswriters Association Forum ceremony on Tuesday at the Century Park Hotel with seven teams all loaded up for another spirited battle for volley supremacy not just among themselves but also against two crack foreign squads stirring up play in the semis.

Creamline gears up for back-toback championships after foiling Petro Gazz in the recent Open Conference but the Angels, along with the Chery Tiggo Crossovers, the Cignal HD Spikers, the Choco Mucho Flying Titans, the Army Black Mamba Troopers and the PLDT High Speed Hitters have toughened during the break in time for Invitationals firing off July 9 at the Fil-Oil Flying V Arena in San Juan City.

A bit of nostalgia also marked the PVL second conference launch at the Badjao room of the posh Sheraton Hotel, which used to be the venue of the weekly sports forum for decades, particularly when the organizing Sports Vision revived the once dormant sport in 2004.

But the upcoming conference won’t be about memories but a fierce, feisty clash of power, style and cohesion with all teams setting out to leave a lasting mark in the country’s first-ever pro women’s volley league.

The Philippine Sportswriters Association, composed of the editors and writers of the country’s leading

He was forced to abandon the Belgian classic in April after he got caught in a mass crash and hit a tree at high speed. Alaphilippe fractured a shoulder blade and two ribs and sustained a collapsed lung.

“To miss another opportunity to wear my beautiful rainbow jersey in my home country is very sad for me and I knew that this decision would be difficult for the team to take,” Alaphilippe said. “At the same time, I completely understand this, because I too don’t want to be at the start if I can’t be at my best level.” AP

Novak Djokovic, gunning for a rare fourth title in a row and his seventh overall, was the first star to shine as he dispatched the stubborn Korean Kwok Soon-woo, 6-4, 3-6, 6-3, 6-4, in Monday’s first round.

There was evident rust in Djokovic’s play, as the Serbian was unable to play a warm-up tournament after bowing in the quarterfinals to eventual champion Rafael Nadal earlier in the French Open.

“I didn’t have any lead-up or preparation tournaments prior to this so you’re always going to feel a bit less comfortable than you would like, particularly if you’re playing against someone as talented as Kwon who stays close to the line and hits really clean,” said Djokovic.

But after yielding the second set on the Korean’s dropshot and big serve, Djokovic, 35, regained his trademark consistency to overpower his foe 11 years his junior and win after two-and-a-half hours at Center Court.

It was actually the third straight win for Djokovic over the 81st-ranked Korean in as many meetings, putting the

Graca, who was accompanied by his elegant wife, Marina, and FIVB General Director Fabio Azevedo.

“It’s an honor,” said Tolentino, who led the POC’s supervision of untangling the leadership crisis in the volleyball federation in February last year when Ramon “Tats” Suzara assumed the presidency of the Philippine National Volleyball Federation in an electoral exercise ordered by the FIVB. The PNVF’s successful hosting of two weeks of the VNL that featured 16 of the top men and women teams in the world didn’t escape Graca’s attention.

“It’s a 10,” Graca told key PNVF and local organizing committee personnel during a congratulatory meeting on Sunday night at the Smart Araneta Coliseum. The noon after, the former Brazilian national team player repeated his praise of Suzara.

“An excellent job that you have done,” Graca told Suzara. “You can compare it [hosting] to Brazil, Poland and Turkey and Italy. You were all completely prepared even without your team playing.”

“This is absolutely something new…the Philippine people are very responsive people and they love the sport,” he said. “This is a very big responsibility for your Olympic committee president [Tolentino] to see all sports prosper, not only volleyball.”

PVL Invitational unwraps July 9 with 7 loaded teams in action

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World champion Alaphilippe, Cavendish absent from Tour RUSSELS—Two-time world champion Julian Alaphilippe and ace sprinter Mark Cavendish won’t be on the starting line when the Tour de France kicks off Friday from Copenhagen.

Alaphilippe has not recovered enough in the two months since his horrific crash at Liège-Bastogne-Liège, his Quick-Step Alpha Vinyl team said on Monday when it unveiled its eightman roster for cycling’s biggest race.

Cavendish, who rides for the same team and last year matched Eddy Merckx’s all-time record of 34 Tour

By Josef Ramos

broadsheets and tabloids, has also been a top supporter of the league since Day One and continues to be so, hosting each of its conference launch while playing a big role in the development of the sport.

“We hope to sustain the momentum we gained in the Open Conference,” said Sports Vision president Ricky Palou during the forum also graced by Cignal TV Channels and TV Content Marketing manager Paulo Fernandez. “For the Invitationals, we are spicing up things with the adding of two foreign teams. We are looking forward to another memorable season with them that, hopefully, our fans will enjoy.”

The PVL success also saw college volleyball thrive and become a huge hit, drawing record crowds the last decade or so while ensuring the steady flow of talents that has kept the league and the sport humming and buzzing through the years.

A pair of explosive matches kicks off hostilities to be aired live and on a delayed basis across multiple platforms, including TV and digital, with Cignal HD colliding with Army Black Mamba at 2:30 p.m. and Choco Mucho facing off with Chery Tiggo at 5:30 p.m.

All the games will be played at the San Juan venue except for the July 23 playdate that will feature Creamline against Choco Mucho, which will be held at the Mall of Asia Arena in Pasay.

PLAYERS and coaches pose with tournament director Tony Boy Liao (seated, from left), organizing Sports Vision president Ricky Palou and Cignal TV Channels and TV Content Marketing manager Paulo Fernandez on the launch of the tournament on Tuesday.

Serbian on course in his bid for a 21st Slam and moving within one of Nadal’s all-time haul of 22.

Djokovic is also motivated as he is still smarting from that trauma in January when Australia deported him for not being vaccinated against the Covid-19.

In beating Kwon, Djokovic fired 14 aces against Korea’s No. 1, whose seven aces got blunted by five double faults.

The victory also made Djokovic the only man to have won 80 matches at all four Grand Slams, counting wonmatches in his three major wins in 2021.

For Kwon, his loss marked the third straight time he has failed to advance into Wimbledon’s second round.

Nadal and two other fancied players—No. 1 women’s player Iga Swiatek of Poland and comebacking Serena Williams—have all drawn relatively unknown first-round opponents.

Swiatek should easily cruise past 252nd Jana Fett of Croatia and Williams against unseeded Harmony Tan. And Nadal’s first foe is the nondescript Francisco

Ceredolo, auguring well for the Spaniard’s bid to win his third major in a row after earlier pocketing in succession the Australian Open and the French Open.

Should Nadal win Wimbledon, he becomes the prohibitive favorite to capture the US Open for a coveted Grand Slam—especially if Djokovic gets banned again for dodging the Covid-19 vaccine required in the year’s concluding major.

The drama continues.

THAT’S IT Motorsports makes a big comeback this weekend (July 2) when the GTR Vios Cup roars off at the Clark International Speedway in Angeles City, Pampanga. Races are to be flagged off 9:30 a.m. in the Petron-sponsored event celebrating its eighth year, featuring some of the movie world’s celebrities, influencers, noted riders and media personalities. Sunshine Cabrera says admission is free to spectators presenting their vaccination cards. See you!