BusinessMirror March 10, 2022

FIRB nixes PEZA plea for new NCR ecozones B B D. N @BNicolasBM

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RUSSIANS PRESSURE UKRAINIAN CITIES AMID FIERCE RESISTANCE

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HE Fiscal Incentives Review Board (FIRB) thumbed down the Philippine Economic Zone Authority’s (PEZA) request to lift the moratorium on new ecozone development in Metro Manila.

Chaired by Finance Secretary Carlos G. Dominguez III, the FIRB said their decision is aligned with the Duterte administration’s bid to increase investments outside the country’s capital. “The Board stood firm on the Duterte administration’s thrust to increase investments outside Metro Manila, and emphasized that Administrative Order [AO] No. 18 still complements the govern-

ment’s strategies and policies on rural development, aligned with the objectives of the Corporate Recovery and Tax Incentives for Enterprises [CREATE] Act,” Dominguez said in a statement sent by the Department of Finance on Wednesday.

Prior to the FIRB’s decision, PEZA was appealing for the lifting of the ban given the demand for expansion, especially from the Information Technology and Business Process Management (IT-BPM) sector.

The moratorium on new ecozones in the National Capital Region is in line with AO 18 signed by President Duterte in June 2019, which aims to spur economic activities in the countryside as well.

In their meeting last February 21,

the FIRB also denied the request of certain groups to allow the extension of the implementation of workfrom-home (WFH) arrangement for the IT-BPM companies beyond the end of this month.

The FIRB upheld its Resolution No. 19-21, allowing the WFH arrangement not exceeding 90 percent of the total work force of registered IT-BPM enterprises only until March 31, in line with the government’s strategy to safely reopen the economy amid the pandemic and stimulate business revival in the country.

This, after PEZA earlier appealed to the FIRB to approve a policy allowing IT-BPO firms to operate under a WFH scheme without the requirement of 10-percent onsite capacity

until September 12.

“The WFH arrangement is only a time-bound temporary measure adopted during the surge of the Covid-19 pandemic. Given the increasing vaccination rate of Filipinos nationwide, we can now undertake safe measures for physical reporting of employees, including those working in the IT-BPM firms operating within ecozones and free ports,” Dominguez was quoted as saying at the recent FIRB meeting.

“The employees’ return to the office would provide more opportunities and pave the way for the recovery of local micro, small, and medium enterprises [MSMEs] that depend on IT-BPM employees for their livelihood,” he added.

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SLOWEST GROWTH IN 10 MOS IN FACTORY OUTPUT ■

Oil crisis spurs quick review by wage boards

B C U. O @caiordinario

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HE growth of the country’s manufacturing output fell below 20 percent for the first time in 10 months, according to the latest Production Index and Net Sales Index or the Monthly Integrated Survey of Selected Industries released by the Philippine Statistics Authority (PSA).

B S P. M @sam_medenilla

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MID the rising prices of basic goods and services, the regional wage boards started reviewing pending wage petitions in each region, according to the Department of Labor and Employment (DOLE).

In a virtual press briefing last Wednesday, Labor Secretary Silvestre H. Bello III disclosed that he ordered all of the Regional Tripartite Wages and Productivity Boards (RTWPBs) to start assessing the economic indicators and consultation of major stakeholders in their jurisdictions.

“They should be activated because they have a pending petition for wage increase. One of them is asking for P750 minimum wage per day and the same minimum wage for all regions,” Bello said.

DOLE said the “skyrocketing prices of oil products” caused by the ongoing Ukraine-Russia conflict “may be a compelling ground for the wage boards to recommend adjustments in the minimum wages of workers.”

The PSA data showed the Volume of Production Index (VoPI) posted growth of 16.5 percent in January 2022—the slowest VoPI growth since March 2021 when it contracted 73.3 percent.

In January 2021, VoPI contracted 14.5 percent while it posted growth of 21.3 percent in December 2021.

Six industry divisions recorded downturns, led by the manufacture of wearing apparel with a -24.2 percent annual rate, PSA said. This is the steepest decline since February 2021 when it contracted 30.5 percent.

Food manufacture

BASED on the data, food manufacturing posted growth of 11.6 percent, the slowest since August 2021 when it grew only 7.3 percent.

Food manufacturing has the largest gross value added to the country’s GDP. In 2021, the manufacture of food products had a total GVA of P1.689 trillion. This represented 47.63 percent of the total GVA of the manufacturing sector at P3.488 trillion last year.

“The expansion in VoPI was brought about by the positive growth rates of 16 industry divisions. Of these, manufacture of tobacco products; and manufacture of wood, bamboo, cane, rattan articles and related products were the major contributing factors with growth rates of 88.4 and 86.8 percent, respectively,” the PSA, however, said.

Based on responding establishments, the PSA said the average S “S,” A

PESO EXCHANGE RATES

Real wage

BELLO acknowledged that the existing minimum wage rates nationwide are no longer enough for the SCIENCE Research Specialist Joel de Jesus of the Department of Trade and Industry conducts a safety and quality inspection of a retail store selling liquefied petroleum gas in Parañaque City. As of March 1, 2022, household LPG prices in Metro Manila are estimated to range from P880.45 to P1,140 per 11-kilogram cylinder. NONIE REYES

S “O,” A

OIL CRISIS SENT 1.3M MORE PEOPLE INTO POVERTY, SALCEDA ESTIMATES B J M N. D C @joveemarie

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N economist-lawmaker on Wednesday warned that continued oil price hikes will likely have resulted in some 1.3 million more people falling into poverty, driving inflation to as high 5.4 percent while undermining the country’s economic growth target for this year.

House Committee on Ways and Means Chairman Joey Sarte Salceda said these 1.3 million Filipinos are equivalent to an additional 1.2 percent of the population in poverty.

“While we are certain that the situation will eventually abate given long-term trends in population patterns, the rise in renewable energy, and energy and fuel-efficient technologies, we are also certain that in the short run, the worst is yet to come. Russian supply will continue to be suppressed even if the Ukraine crisis sees resolution, as sanctions will likely continue to be imposed on Russia, which accounts for around 10 percent of global oil supply,” he said.

The $127 current crude prices as of March 9, Salceda said, may translate to an increase of around P11.1 on gasoline, P9.25 on diesel,

and P8.88 on kerosene next week.

“Since 2021, as of today, prices have increased by P30.9 for gasoline, P31.75 on diesel, and P25.94 on kerosene per liter. January 2021 prevailing prices were P38 per liter on gasoline, P27 on diesel, and P36 on kerosene,” he said.

If projected increases for next week are realized, the lawmaker said the country may see total price increases to jump to P42 on gasoline, P41 on diesel, and P34.82 on kerosene.

“On the other hand, if spot prices normalize to below $120 per C  A

■ US 52.1950 ■ JAPAN 0.4513 ■ UK 68.4120 ■ HK 6.6756 ■ SINGAPORE 38.2437 ■ AUSTRALIA 37.9249 ■ SAUDI ARABIA 13.9120 ■ EU 56.9082 ■ CHINA 8.2593

Source: BSP (March 9, 2022)

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Thursday, March 10, 2022

Oil...

C  A

needs of many workers. As of February, data from the National Wages and Productivity Commission (NWPC) showed the “real wage” (wage adjusted for inflation) in the National Capital Region (NCR) is now only at P494.02. Meanwhile, real minimum wages in other regions range from P266.09 to P370.70.

Bello said the RTWPBs are expected to start their wage rate reviews during the last week of March and will complete such by next month.

“We need to be careful with the wage adjustment to strike a balance between the needs of workers and the existence of employers,” Bello said.

Job preservation

HE denied criticism that the current administration is the most “stingy” when granting minimum wage hike, especially during the onset of the Covid-19 pandemic. “We were focused on the preservation of employment because many [workers] lost their jobs and companies were forced to shutdown or reduced their operation. Our employers cannot afford wage increases in 2020 and 2021,” Bello said.

To note, no RTWPB issued a new order increasing minimum wage rates in their jurisdiction last year, as companies continue to reel from the quarantine restrictions caused by the pandemic.

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DFA Aseana to accept OFWs, other special passport applicants

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B M T-B

@maloutalosig

TARTING Monday, the Department of Foreign Affairs will start accepting walk-in applications for passports of overseas Filipino workers, senior citizens, minors, pregnant women, solo parents and people with disability.

Meanwhile, Foreign Affairs Secretary Teodoro Locsin Jr. has rescinded the allocation of passport slots given to recruitment agencies following the mounting complaints the department is receiving on their online application availability.

In advisory posted on its web site, the DFA Office of Consul Affairs said the DFA Aseana along Diosdado Macapagal Ave. in Pa-

say City will accommodate “qualified and fully vaccinated” walk-in applicants under Courtesy Lane starting March 14, from 1pm-5pm only. This is the first time that the DFA has opened its main consular building in Aseana for walk-in applicants since May 2020, two months after the pandemic began.

The DFA has been strictly requiring all passport applicants to book their appointments online.

FOREIGN Affairs Secretary Teodoro Locsin Jr.

As for the other applicants wanting to apply at the consular offices and Temporary Office Passport Service (TOPS) of the DFA, they need to apply for appointment.

Minor passport applicants who are allowed under Courtesy Lane are those aged 7 years old and below. Those minors who are not yet

barrel, next week’s round of price increases may settle to P8.7 on gasoline, P7.25 on diesel, and P6.96 on kerosene, still significant changes that could lead to total price in-

creases since 2021 adding up to P39.7 on gasoline, P39 on diesel, and P32 on kerosene,” Salceda said.

According to Salceda, oil-producing countries will continue to maximize the opportunity to claw back losses from when oil futures

sank to record lows during the pandemic.

“I expect no significant reductions in oil prices until June at the earliest. By then, crude oil spot prices will likely have approached $180-$190 per barrel,” he added, “If these highs are reached, total price increases since 2021 will have been: P58 for gasoline, P53.75 for diesel, and P47 for kerosene.”

On GDP growth, Salceda said these high oil prices could undermine the efforts to reach 7 to 9 percent GDP growth in 2022 by around 0.3 to 0.5 percent.

“What could drive this adverse impact on the GDP further up is if the BSP is compelled to raise interest rates at a faster pace if overall inflation accelerates. [A] 7 percent GDP growth is still highly achievable if the country earns more dollars through manufacturing export recovery, remittances, faster-thanexpected tourism recovery, and the influx of BPO and overseas-origin freelancing jobs, along with sustaining a manageable level of Covid-19 cases,” he added.

Salceda said these high prices could also drive overall inflation to as high as 5.2 to 5.4 percent by June, considering added pressures on bread, typical power demand surges during the summer months, and second-round effects of oil prices on transport costs, electricity, food (especially fish), and other basic commodities.

Russia and Ukraine are among the world’s largest producers of wheat.

To mitigate the impact of oil price hikes, Salceda called on the national government to immediately declare a state of economic emergency.

“If the national government will not declare a state of economic emergency, I propose at least modifying the criteria set by the National Disaster Risk Reduction and Management Council [NDRRMC] under Section 16 of RA 10121. The enabling mechanism for this, set

by Memorandum Order No. 60, s.

2019, can be amended to qualify unmitigated oil price increases as ‘disruption of lifelines such as food supply chains, electricity, potable water systems, other transport systems,’” said Salceda.

Under such emergency declaration, Salceda said the LDRRM Funds or 5 percent of the annual LGU budget may be utilized “for relief and recovery programs in order that the situation may be normalized as soon as possible.”

He said the LGU may also impose price controls on basic commodities, monitor and prevent profiteering, reprogram funds for upgrading or repair of public facilities, grant zero-interest loans, utilize the Quick Respond Fund

C  A

and release the LDRRM Fund, and utilize alternative modes of procurement.

capacity utilization rate for the manufacturing sector in January 2022 reached 67.9 percent, slightly higher than the 67.4 percent in the previous month.

The data showed 21.2 percent of firms, representing 95 firms out of the total of 449 responding establishments, operated below 50 percent.

This included firms engaged in the manufacture of leather and related products, including footwear, as well as paper and paper products, the average capacity utilization rates of which were 35.6 percent and 47.1 percent, respectively.

This was followed by 81 firms or 18 percent of the total firms which operated between 70 and 79 percent, while 80 firms or 17.8 percent of the total, operated at 90 to 100 percent.

Only 55 firms or 12.2 percent operated at 60 to 69 percent. This included firms engaged in the manufacture of food which posted an average capacity utilization rate of 66.4 percent.

“There were 20 out of 22 industry divisions with more than 50 percent average capacity utilization rate, led by manufacture of other non-metallic mineral products [84.2 percent], manufacture of basic pharmaceutical products and pharmaceutical preparations [79 percent], and manufacture of furniture [78.8 percent],” the PSA said.

Special session

Value of Production Index

vaccinated “will follow the vaccination status” of their accompanying parent or guardians.

The DFA may also allow other passport applicants who need to travel for “exceptional or emergency” reasons, but their cases need to be approved by DFA Secretary Locsin, DFA Undersecretary Dodo Dulay Jr. or DFA Assistant Secretary for Consular Affairs Senen Mangalile. Details of the requirements for those availing themselves of Courtesy Lane at the DFA Aseana can be accessed here: https://consular.dfa.gov.ph/services/passport/ passport-cl.

In a tweet, Locsin said, “Recruiters will no longer be given passport slots. They will have to go online like everyone else. This won’t affect OFWs.” Earlier this year, Dulay said 13,036 passport appointment slots allotted for recruitment agencies in 2021 were not used. Only 614 slots or 4.5 percent were used.

OIL CRISIS SENT 1.3M MORE PEOPLE INTO POVERTY, SALCEDA ESTIMATES C  A

Slowest...

MEANWHILE, House Committee on Economic Affairs Sharon Garin and House Committee on Energy Chairman Juan Miguel Arroyo reiterated their calls for a special session to immediately tackle proposals to suspend collection of excise tax on fuel. “[Recently], we witnessed an average increase of P5-5.85 per liter increase in diesel prices and P3.6 per liter for gasoline. That is already such a big increase and triggered long lines in gasoline stations. And then there are still MOPS [Mean of Platts Singapore] estimates that

by March 15, we might be looking at P12.80 and P8.30 increases per liter of diesel and gas. This is already an emergency and there are more we can do in Congress to at least mitigate the effects of the oil price increases to our already ailing economy,” said Garin.

“If and when, the House convenes a special session, there should be a review on the unbundling of the oil prices and the inclusion of the minimum inventory requirements provision to the Oil Deregulation Law as proposed by the Department of Energy [DOE] in the agenda. Even if we have enough supply for the next 40 days, the rising cost of oil prices will surely warrant the suspension of certain taxes so we can give relief to the affected sectors,” she added.

Garin said that while the petitions for fare hikes are already being discussed in the LTFRB and programs such as the fuel subsidy under the 2022 General Appropriations Act would help public utility drivers, Congress should intervene by fast-tracking discussions on suspending the excise tax on oil.

She estimates that at least P6 per liter would be removed from current retail prices if such tax is suspended.

With the cost of fuel rising at an unprecedented level for the past weeks, aggravated by the RussiaUkraine conflict, Arroyo, for his part, said the loss for the suspension of fuel excise tax could actually be compensated for by the windfall profit the government earned through the extra collections it made on value added tax (VAT) and excise tax in the spate of fuel price increases in recent weeks, similar to what happened during presidency of his mother, Gloria MacapagalArroyo.

Arroyo said the lawmakers, even if most of them are back in their respective districts, are on standby should President Duterte call for a special session to address the fuel crisis.

IN terms of value, PSA said the Value of Production Index (VaPI) for manufacturing posted a yearon-year increase of 21.3 percent in January 2022. This was also the slowest growth since March 2021 when the VaPI contracted 74.1 percent.

The annual growth rate for VaPI in January 2021 contracted 19.5 percent while the VaPI in December was at 22.1 percent.

The growth in VaPI for January 2022 was contributed by the upturns in 19 of the 22 industry divisions. Among these, the top contributor was the manufacture of tobacco with an 88.1 percent annual growth rate.

Meanwhile, the remaining three industry divisions recorded decreases with manufacture of wearing apparel registering the fastest annual contraction of 22.4 percent.

The MISSI is a report that monitors the production, net sales, inventories, and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector.

Abra execs back BBM, Sara tandem

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FFICIALS from Abra province led by Gov. Maria Jocelyn “Joy” V. Bernos and Rep. Joseph Sto. Niño B. Bernos on Wednesday joined Solid North local executives in supporting the UniTeam tandem of former senator Ferdinand “Bongbong” Marcos Jr. and Davao City Mayor Sara Duterte.

Before the candidates arrived, Rep. Bernos, a member of the Nacionalista Party (NP), said the people of Abra were excited to welcome the UniTeam candidates.

“Abra is BBM-Sara country,” he said.

The UniTeam and senatorial aspirants held a motorcade and rally at the Abra Sports Complex before proceeding to Kalinga Wednesday afternoon.

Gov. Bernos, a member of the National Unity Party (NUP), strongly asked her fellow Abreños to support BBM-Sara, describing the Partido Federal ng Pilipinas (PFP) standard-bearer as “a gentleman who has a proven competence and humane leadership.”

Marcos thanked them and campaigned for Duterte, chairperson of the Lakas-Christian Muslim Democrats (CMD), who did not make it to the rally.

Senatorial candidates Win Gatchalian, Harry Roque, Mark Villar, and Rodante Marcoleta joined Marcos in Abra.

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The Nation BusinessMirror

Palace prodded to fund urgent Comelec manpower requirements for May polls

By Butch Fernandez @butchfBM

T

HE Executive branch was prodded on Wednesday to find the fund to immediately fill manpower gaps of the Commission on Elections (Comelec), while the poll body’s facilities request for better local offices was phased out over several years due to the massive requirement.

Senate electoral reforms committee chairman Senator Imee Marcos made the pitch, as her panel heard how badly the Comelec needs personnel to effectively conduct the May 9 elections.

However, since the requirements for improving existing facilities for local Comelec offices is so huge, Marcos advised Senator Aquilino “Koko” Pimentel, one of the senators pushing for the initiative, to help craft a multi-year, multi-phase program so that existing Comelec units can be better housed.

Most are now “squatting” in sometimes dilapidated or small facilities hosted by local government units.

Senators were told earlier that Comelec needed at least P10 billion for all its infrastructure and manpower requirements for regional offices, but such could not be provided.

The House of Representatives said it is up to availability of funds from the Department of Budget and Management to cover funding for rentals and additional work force.

Rule on substitution

MEANWHILE, Comelec officials assured senators that the poll body

supports moves to tighten the rules on substitution of candidates, as sought in two pending bills, Senate Bills 2439 and 2461, authored by Senators Sherwin Gatchalian and Leila de Lima.

The bills seek to prevent what was observed to be years of abuse of the “substitution by withdrawal” rules, whereby aspirants field so-called “place-holders” to file candidacies, with the plan to withdraw later in favor of the real candidate.

The substitution rule benefited then Mayor Rodrigo Duterte in 2016, which until the last minute said he was not running, but later, took the slot of Martin Diño, who had filed his Certificate of Candidacy (COC).

In the most recent season of COC filings last October, the swirl of changes between party affiliations and declared aspirants created concern that the “substitution” rule was indeed being abused and needed amending.

Albert Rodriguez of the Comelec Legal Department, however, wanted to clarify what senators meant by “incapacity,” one of the grounds allowed for a COC filer to withdraw.

De Lima’s bill proposes the outright cancellation of a COC if it is found that there was misrepresentation by the original COC filer or the candidate who took over the slot.

Pimentel, meanwhile, wanted to know the provenance of the rule that once a ballot is printed, only a substitute bearing the same surname as the original COC filer may qualify to replace him or her.

DND chief: ₧12.7-B chopper deal with Russia ‘on track’

By Rene Acosta @reneacostaBM

D

EFENSE Secretary Delfin Lorenzana confirmed on Wednesday that the procurement of heavy-lift helicopters from Russia through a multi-year obligation agreement is “on track” despite Moscow’s ongoing war with Ukraine.

“The heavy lift helicopter procurement project with Russia is on track. The contract was signed and the down payment was done before the Ukraine crisis happened,” the defense chief told military reporters in response to a question from the BusinessMirror.

“It is a multi-year procurement contract and the delivery of the first batch will be in 24 months,” he said, adding only time could tell if Russia’s war with its neighbor will impact the project.

“Will the Ukraine crisis affect the project? Only time will tell,” he said.

Asked further about the project, Lorenzana said the defense department is acquiring 17 units of Russian helicopters with a total contract price of P12.7 billion.

“The contract was signed last November and the down payment was made last January,” he said.

“No, we do not see any likelihood of [the project] being scrapped as of this moment,” Lorenzana also said when asked if the project will not be affected by the war. “We hope the crisis is resolved soon.”

Zambales ramps up Covid vax drive to reach 80 percent goal

ZAMBALES health workers administer Covid-19 vaccines in the remote village of Baytan in Botolan town on Tuesday. CONTRIBUTED PHOTO

By Henry Empeño Correspondent

I

BA, Zambales—Governor Hermogenes Ebdane Jr. has ordered local health officials here to further step up the pace of vaccination in Zambales and hasten the province’s return to normalcy in face of the waning Covid-19 pandemic.

Ebdane told the BusinessMirror on Wednesday that the Zambales Provincial Health Office (PHO), in response to his directive, has already formed 41 vaccination teams and set up 28 vaccination centers throughout the province to inoculate a target of 4,100 residents each day.

“We need to vaccinate more people, especially those in far-flung areas, primarily for their health and safety, and secondly to further open up the local economy, increase livelihood opportunities, and ensure food security,” Ebdane said.

“And we need to vaccinate 80 percent of the population before we can ease down from restrictions set up by the IATF [Inter-Agency Task Force for the Management of Emerging

Infectious Diseases],” he added.

Ebdane explained that Zambales remains under Alert Level 2 despite its recent classification as Covid-19 low-risk area because of the required vaccination rate of 80 percent for senior citizens and the full vaccination of 70 percent of the local population.

“Actually, Zambales sort of became a victim of its own efficiency because when we were able to suppress and properly manage the Covid-19 situation early on, we became the least priority for vaccine distribution,” he said.

Ebdane added that the provincial government had allocated P200 million for the direct purchase of vaccines, but did not get clearance to do so.

As of March 8, a total of 369,674 residents, or 57 percent, already received their full vaccine doses, while 26,337, or 4 percent, are partially vaccinated and a total of 44,053 received booster shots, PHO data showed.

With a total of 253,604, or 39 percent, of residents remaining to be unvaccinated, Zambales health workers may need another two

Editor: Vittorio V. Vitug • Thursday, March 10, 2022 A3

months to completely vaccinate the whole population—even if they reached their target of 4,100 vaccine recipients per day.

Ebdane said he has ordered the PHO to target upland agricultural communities and remote coastal areas where residents do not have easy access to health services.

To further speed up the provincial vaccination program, Ebdane said his office had initiated several special programs to prioritize marginalized sectors. These include “BakunITA,” which targets Ayta indigenous tribes; “islaBAKUNA,” for island-barangays and remote fishing communities; and lately the “ResbaKULONG,” a vaccine rollout for prison inmates.

PHO head Dr. Noel Bueno said his office will implement the intensified vaccination program targeting 4,100 recipients daily with the help of municipal health offices in the 13 towns of Zambales.

The 41 dedicated vaccination teams will do mobile rollouts and also man 28 vaccination sites that include public and private hospitals, schools, and sports complexes.

PHOTO shows two newly-delivered T-129 ATAK combat helicopters at Clark Air Base in Pampanga. PHOTO COURTESY OF PHILIPPINE AIR FORCE.

Lorenzana, however, did not say how much was paid as down payment to the project, and what particular type of chopper will be acquired under the deal.

In March 2020, defense and military officials went to Russia and inspected the manufacturing plant of the Mil Mi-17 in Ulan Ude, Buryatia, which is owned by Sovtechnoexport.

Lorenzana did not say if this is the same type of helicopter that is being

procured by the DND, but at the time of the trip, the department was said to be already looking at acquiring 16 units of such type of chopper.

While 16 units were being considered, the Russian manufacturer was said to be willing at that time to donate or give another one free.

Lorenzana believed the current sanctions imposed by the West against Russia will not affect the procurement on the account of the

project’s down payment.

In a related development, two of the six Turkish-made T-129 ATAK helicopters that the Philippine Air Force (PAF) ordered were delivered at Clark Air Base in Pampanga on Wednesday night, further boosting the air capability of the military.

The two choppers were delivered along with the initial logistics support, according to PAF spokesman Col. Maynard Mariano.

A4 Thursday, March 10, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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DBM vows early release of ₧2.5-billion fuel subsidy for transportation sector

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By Bernadette D. Nicolas

@BNicolasBM

HE Department of Budget and Management (DBM) is eyeing to release the P2.5-billion fuel subsidy for the transport sector this week or early next week to cushion the impact spiraling global prices of crude aggravated by the raging RussiaUkraine conflict.

Budget Officer in Charge Tina Rose Marie L. Canda said on Wednesday the DBM had already prepared the release documents while waiting for their joint memorandum circular together with the Department

of Transportation (DOTr) and Department of Energy (DOE) regarding the guidelines of the fuel subsidy program required under the 2022 national budget.

Canda assured the public during

the Laging Handa public briefing they are already expediting the release of funds.

To expedite the release of funds for the fuel subsidy program, Canda admitted they even made an adjustment as they needed to comply with the special provision under the 2022 National Budget, which stat that the appropriated funds shall only be used if the Dubai crude oil price based on Mean of Platts Singapore reaches or exceeds $80 per barrel for three months.

“Ginawan namin ng adjustment iyan at ang DOE na ang nag-decide na isama sa computation iyong December; so, December, January, February. Kasi kung halimbawa hihintayin natin iyong three months, dapat Abril pa iyon mare-release,” Canda said.

AsfortheP500millionappropriated under the budget of the Department of Agriculture for fuel vouchers for the agriculture sector, Canda said they are

still waiting for the agency’s request.

Economic managers have earlier recommended to President Duterte to increase the budget allotted to the fuel subsidy program to P5 billion from P2.5 billion previously.

On top of these, they also proposed to raise the budget for fuel vouchers for agricultural producers from P500 million to P1.1 billion.

The release of the funds for fuel subsidy for the transport sector and the fuel vouchers for the agriculture sector are both recommended to be done in two tranches—the first one in March and the second one in April.

Canda said the additional funds needed for the economic team’s proposals may be sourced from excess revenues, which she said they expect to come in later this month.

Meanwhile, on proposals to suspend or lessen the excise tax and valueadded tax on petroleum products to

cushion the impact of rising oil prices, Canda expressed concern that this move may lead to the government losing funds for social services, education, medical assistance, among others.

“Ang education mawawalan ng pondo para sa K to 12, hindi lahat iyan mapopondohan. Ang DOH maaapektuhan ang kanilang health facilities plus iyong kanilang assistance to individuals in crisis, tapos ang—hindi pala, medical assistance ano. Tapos ang DSWD [Department of Social Welfare and Development] ang tatamaan naman sa kanila iyong assistance to individuals in crisis situations,” she said.

“So, iyon and mangyayari. Matutuwa ang isang sektor pero siguro mga tatlo o apat na sektor naman ang hindi mapopondohan sa pagtanggal ng excise tax. Iyon ang dapat nating ibalanse kung halimbawa eh itong usapin sa excise tax at VAT ang gagawin natin, iyong pagtanggal nito,” she explained.

DFA brings home 63 Pinoys from Ukraine

T

HE Department of Foreign Affairs (DFA)Office of the Undersecretary for Migrant Workers’ Affairs (OUMWA) welcomed the arrival of 21 seafarers of MV S-Breeze, the first group of seafarers repatriated from Ukraine on Tuesday morning, bringing to 63 the total number repatriated Filipinos from the war-torn country to 63. A separate group of 136 others, meanwhile, have been evacuated.

Another group of seven seafarers from MV Joseph Schulte are also scheduled to arrive in Manila later Tuesday, while seafarers of MV Star Helena, MV Global Aglaia, MV Key Knight and MV Pavlina are en route to Manila from Bucharest, Romania.

“The Department expects more arrivals in the coming days as it steps up its efforts to bring home our kababayans from Ukraine,” stated OUMWA Undersecretary Sarah Lou Y. Arriola.

The Philippine Embassy in Budapest and the Philippine Honorary Consulate in Moldova are continuously working together to facilitate the repatriation of seafarers and overseas Filipinos from the south of Ukraine who managed to enter Moldova.

OWWA Administrator Hans J. Cacdac, for his part, said additional batches of overseas Filipino workers from Ukraine are expected to arrive in the coming weeks after hoisted Alert Level 4 for Ukraine, or the mandatory repatriation phase, according to Cacdac.

OWWA said it is currently trying to convince the remaining OFWs in Ukraine to come home as tension in Ukraine continues to escalate.

“We are trying to help in convincing them through Zoom or video call to go home,” Cacdac said.

New York CG Cato lauds new protection laws for domestics

N

EW YORK CITY—The Philippine Consulate General in New York City, USA welcomed two recent legislations signed into law by New York Governor Kathleen Hochul and then New York City Mayor Bill de Blasio, which expand protection for Filipinos and other domestic workers who live or work in New York City.

“The Philippine Consulate General welcomes these positive developments that will improve employment security and enhance work benefits of kababayans employed in the household service industry,” Consul General Elmer G. Cato said in a news statement.

The landmark law signed by Governor Hochul on December 31, 2021 legally considers domestic workers as “employees” for all intents and purposes under the New York State Human Rights Law while Intro 39 signed by then Mayor Bill de Blasio on August 25, 2021 extends anti-discrimination protections to domestic workers of New York City.

Domestic workers are individuals employed at a home or residence as housekeepers, nannies, home health-care aides, or similar positions. A person does not need to live with their employer to be considered a domestic worker.

“As domestic workers have historically been laboring in a shadow economy, they become particularly vulnerable to abuse and all kinds of harassment,” Consul General Cato said. “Codifying protections for domestic workers will significantly empower them and hopefully pave the way for more legal measures to improve the lives of domestic workers.”

The vital expansion of the human rights law, provides explicit protection for a domestic worker, often working as the solo employee of the employer; protection against discrimination and harassment in hiring, firing, and the terms and conditions of employment with respect to reasonable accommodations and retaliation; and the ability to seek redress in the same way as most other workers protected under the law.

While city employers of domestic workers are set to comply with the law beginning March 12, 2022, the statewide protections are already in effect.

For more information, visit ht t ps://ne w york pcg.org /pcgny/ and https://www.facebook.com/ PHLinNY/ Samuel P. Medenilla

Senate panel digs deeper into swirling power franchise row in Davao region

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AVAO CITY—The electricity franchise row in two Davao provinces was put on abeyance to resolve technical and constitutional issues after mayors of eight towns and two cities revived the old issue of unreliable electricity service of an electric cooperative.

Earlier, Senator Grace Poe’s committee on public services also deferred granting franchise to a radio and television application in the region when government regulating agencies all pointed out to gaps in reporting and submission of reports and other failure of the applicant to comply with the regular reporting required of its franchise which expired last year.

On Wednesday, Poe heard arguments for the expansion of the franchise of the Aboitiz-owned Davao Light and Power Co. further into five municipalities and two cities of Davao del Norte and one town of Davao de Oro, formerly Compostela Valley. These provinces are covered by the franchise of the North Davao Electric Cooperative (Nordeco), which replaced the handicapped Davao del Norte Electric Cooperative (Daneco).

Davao del Norte Gov. Edwin I. Jubahib and Rep. Pantaleon Alvarez joined town mayors to point out to the continuing power outages “at the most inconvenient time” that Nordeco inherited from its predecessor, Daneco. Nordeco took over Daneco operation in 2018.

The local government chief executives have asked Senate to allow Davao Light to take over as their new electricity provider.

The Davao del Norte towns of New Corella, Kapalong, Asuncion, San Isidro, Talaingod and the cities of Tagum and Island Garden City of Samal, and the municipality of Maco of Davao de Oro, appealed to Congress to grant franchise to Davao Light.

Davao Light President and Chief Operating Officer Roger Velasco, said it was ready to be the provider of electricity of these towns pending Congress’ approval of the request of the chief executives in the form or an expanded franchise.

Formerly operating in Davao City, the Davao Light later expanded to the municipality of Santo Tomas, Braullio Dujali and Panabo City of Davao del Norte. Davao Light is an International Standard Organizationcertified company, Velasco added.

He said Davao Light would be able to provide with “lower electricity cost, improve availability and reliability of power and less system loss.”

Nordeco legal counsel, Daniel C. Campoamor, told the committee it was untenable to have two franchises in one area, which would entail two distribution lines running across highways, and weakening the operation of the smaller company, Nordeco. Manuel T. Cayon

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, March 10, 2022 A5

DA issues rules for fertilizer aid scheme

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture’s (DA) P5.85-billion fertilizer voucher program, which will provide subsidies to planters, aims to cover some 3 million hectares of rice farms.

Eligible rice farmers may use the fertilizer voucher to buy fertilizer grades, including complete, urea, ammonium sulfate, ammonium phosphate, and mu-

riate of potash.

The DA recently issued Memorandum Order (MO) 22 which outlined the implementing guidelines for its fertilizer program.

Under the program, discount vouchers will be used by farmerbeneficiaries to claim fertilizers at accredited merchants. The vouchers will have a value equivalent to P1,131 per hectare for inbred rice and P2,262 per hectare for hybrid rice.

“The DA recognizes the importance of fertilizer application in order to fully maximize the yield potential of a crop or plant. Thus, fertilizer distribution has been one of the activities supported in recent years by the DA banner programs to aid farmers in increasing farm productivity and their income,” the DA said.

“This activity aims to ensure the timely availability of the needed fertilizer for rice production in the targeted areas through the distribution of fertilizer discount vouchers.”

MO 22 stipulated that the project will cover the 2022 wet crop season and the 2022-2023 dry cropping season in “selected rice-producing municipalities and provinces” in all regions nationwide.

Under the rules, the farmer-beneficiaries are “preferably” the ones who have already received highquality seeds from the government “to allow them to adopt the full high yielding technology practices.”

“Only farmers that are registered under the Registry System for Basic Sectors in Agriculture [RSBSA] and encoded in the National Farmers’ and Fishers’ Online-Registry System [NFFRS] or the National Farmers and Fisheries Information System [NFFIS] shall be eligible to receive this support,” MO 22 read.

Based on the MO, the area per farmer will be based on the actual area planted as reflected in the master list of seed beneficiaries or master list of validated farmers who planted using their own or selfpurchased seeds.

“However, should the actual area exceed the area reflected in the en-

coded NFFIS/NFFRS, the area registered in the NFFIS/NFFRS shall be followed,” it read.

Farmers who will get the fertilizer voucher, which is for one-time use only, must personally bring the printed discount voucher together with proof of identification to accredited merchants.

Under the MO, Central Luzon will have the largest budget for the fertilizer voucher program at P761.097 million since it has the largest rice area at 396,907 hectares. It was followed by Region 2 with a total allocation of P715.488 million for 365,036 hectares of rice farms.

Prevent spread of bird flu in other areas, solon tells DA

By Jovee Marie N. Dela Cruz @joveemarie

A

LAWMAKER from Bicol on Wednesday asked the Department of Agriculture (DA) to look into the H5N1 strain of avian flu that was reportedly detected in Bula and Sipocot in Camarines Sur. In a letter to Agriculture Secretary William D. Dar, House Committee on Ways and Means Chairman Joey Sarte Salceda asked the DA chief for assistance in preventing the spread of the highly-infectious strain in other areas and anticipating an avian flu outbreak in the Province of Albay.

“While my office is validating these reports, I am deeply concerned about a potential outbreak in these areas as

Albay sources poultry products [particularly eggs] from these municipalities,” Salceda told Dar. “Agriculture is still recovering, and given inflation prospects, keeping food prices down will be an absolutely critical priority for this administration and the next one. Efforts to prevent ASF [African swine fever]-like effects on our poultry industry will be vital to economic recovery,” Salceda said.

Salceda also noted that “the DA is already undertaking measures in affected areas in Central Luzon to control the infection.”

The lawmaker also asked Dar “Whether RT-PCR tests are available or pre-positioned to detect the virus in Albay; what biosafety measures can be taken by farmers and raisers to prevent the

transmission of avian flu among their poultry; [and] what forms of assistance can the DA extend to poultry raisers in Albay to prevent the spread of avian flu.”

In a separate letter to Dar, Salceda has reemphasized to the DA the support of the House of Representatives to the efforts of the agriculture department to fight bird flu outbreaks.

Salceda said the House is ready to endorse any request from the DA for changes in administrative procedures in the Bureau of Customs to prevent the entry of infected live and poultry products.

The solon also offered to request “the Philippine Ports Authority and the Department of Transportation to work with [DA] to craft guidelines to strengthen avian flu prevention measures.”

PHOTO FROM WWW.USDA.GOV

SRA board approves auction of smuggled refined sugar

T

HE Sugar Regulatory Administration (SRA) board, voting 2-1, has approved the auction of 23 20-foot container vans of forfeited imported refined sugar.

The SRA board held a referendum recently over the SRA management’s recommendation of holding an auction for the forfeited imported refined sugar in the Port of Subic, which has been under the custody of the Bureau of Customs (BOC). The board has set a floor price of P1,750 per 50-kilogram (LKg) bag.

The SRA management recommended the forfeited imported sugar to be classified as “B” sugar or for domestic consumption to boost the country’s supply of the sweetener.

Only SRA board member Roland

B. Beltran voted against the recommendation, saying that the “smuggled items should be destroyed as a matter of policy.” The other members of the board are SRA Administrator Hermenegildo R. Serafica and Agriculture Secretary William D. Dar, who serves as chairman.

Under a joint memorandum of SRA and BOC, abandoned or forfeited sugar could only be disposed of through a public auction.

Existing rules stipulate that no auction shall be conducted unless the SRA has determined the market classification and floor price of the abandoned or forfeited sugar.

Documents obtained by the BusinessMirror showed that the auction for the 23 20-foot container vans

of forfeited imported refined sugar was part of the SRA board’s agenda last March 4.

“The Management recommends for Board approval the ‘B’ or domestic sugar classification of the imported refined sugar which was forfeited by the BOC-Port of Subic from the 23x20’ container vans, at a recommended floor price of P1,750/LKg-Bags,” the document read.

BOC-Port of Subic District Collector Maritess T. Martin wrote to Serafica on February 17 to inform the administrator about the apprehended 23x20’ container vans of smuggled refined sugar.

Martin sought the SRA’s determination of the condition of the forfeited sugar, possible market classification and the recommended floor price.

“Considering the perishable nature of the subject shipments and lack of viable storage facility of this Port, prompt action on the foregoing request will be highly appreciated,” Martin said in her letter.

Based on BOC documents, the shipments contained Cristalla Supreme Refined Sugar instead of the antibacterial wet wipes and twist floor mop that was indicated in the goods declaration. The other containers, upon inspection by BOC, yielded Dalmia Bharat Sugar White Crystal Sugar and Dalmia Plantation White Sugar in 50kg sacks from India instead of plastic trash bag, based on BOC documents.

The smuggled sugar shipments were seized by the BOC last December 2021. Jasper Emmanuel Y. Arcalas

The world’s next food emergency is here as war compounds hunger crisis

R

USSIA’S invasion of Ukraine means the food inflation that’s been plaguing global consumers is now tipping into a full-blown crisis, potentially outstripping even the pandemic’s blow and pushing millions more into hunger.

Together, Russia and Ukraine account for a whopping portion of the world’s agricultural supplies, exporting so much wheat, corn, sunflower oil and other foods that it adds up to more than a tenth of all calories traded globally. Now, shipments from both countries have virtually dried up.

Commodity markets are soaring— wheat is up about 50 percent in two weeks and corn just touched a decade high. The surging costs could end up weighing on currencies in emerging markets, where food represents a bigger share of consumer-price baskets.

And analysts are predicting export flows will continue to be disrupted for months even if the war were to end tomorrow.

The crisis extends beyond just the impact of grain exports (critical as they are). Russia is also a key supplier for fertilizers. Virtually every major crop in the world depends on inputs like potash and nitrogen, and without a steady stream, farmers will have a

harder time growing everything from coffee to rice and soybeans.

Plainly speaking, there are few other places on the planet where a conflict like this could create such a devastating blow to ensuring that food supplies stay plentiful and affordable.

It’s why Russia and Ukraine are known as the breadbaskets to the world.

“It’s an amazing food shock,” said Abdolreza Abbassian, an independent market analyst and a former senior economist at the United Nations’ Food and Agriculture Organization. “I don’t know of a situation like this in the 30 years I was involved in this sector.”

The shock is already reverberating across the world.

In Brazil, another agricultural powerhouse, farmers can’t get the fertilizers they need because retailers are reluctant to provide price quotes.

In China, one of the world’s biggest food importers, buyers are snapping up purchases of United States corn and soybean supplies amid concerns that fewer crop shipments from Russia and Ukraine could set off a global scramble for grains. In Egypt, people are worried that prices for the subsidized loaves of bread they depend on could rise for the first time in four decades, while footage of citizens in

Turkey trying to grab tins of cheaper oil went viral. And within Ukraine itself, food is running short in some major cities.

“The damage is done,” Abbassian said. “We’ll have months before we return to anything called normality.”

The timing couldn’t be worse.

When the pandemic first hit in 2020, images of lines snaking around food banks and empty grocery shelves shocked the world as nearly a tenth of the global population went hungry.

But at the time, food inventories were still abundant.

That’s no longer the case. Grains are the staples that keep the world fed, with wheat, corn and rice accounting for more than 40 percent of all calories consumed. But grain stockpiles are poised for a fifth straight annual decline. A combination of higher shipping costs, energy inflation, extreme weather and labor shortages have made it harder to produce food.

As a result, global food prices are already at record highs, with the benchmark United Nations index increasing more than 40 percent over the past two years. The surge has had crushing consequences. Food insecurity has doubled in the past two years, and the World Food Programme es-

timates 45 million people are on the brink of famine.

The current crisis is going to make things worse, likely sending hunger to unprecedented levels as the conflict turns millions of people into refugees and sends food prices even higher.

“The bullets and bombs in Ukraine could take the global hunger crisis to levels beyond anything we’ve seen before,” David Beasley, executive director of the UN agency, said in a statement.

Wheat: Why it matters

THE world has grown hugely dependent on Ukraine and Russia for their wheat, a crop used in everything from bread to couscous and noodles. The nations account for a quarter of global trade. They are also cheap suppliers, which makes their exports favorites for importers in the Middle East and North Africa, including in Egypt, the world’s biggest wheat buyer.

Benchmark wheat futures traded in Chicago reached a record-high price Tuesday.

“You’re going to see a spike of starvation around the world,” Eurasia Group President Ian Bremmer told Bloomberg TV’s Surveillance.

Bloomberg News

A6

BusinessMirror

Thursday, March 10, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

A-LINK STEEL MANUFACTURING CORP. Unit 1403-1404 14/f Bdo Equitable Bank Tower, 8751 Paseo De Roxas, Bel-air, City Of Makati 10.

QIN, BINGQI Chinese Finance Supervisor 1.

Brief Job Description: Oversees the collection and analysis of financial information for an organization.

WU, PANPAN Mechanics Supervisor 2.

Brief Job Description: Directly supervise and coordinate the activities of mechanics, installers, and repairers.

WEI, LIANGYOU Roller Machine Specialist 3.

Brief Job Description: Set up, operate, or tend machines to roll steel or plastic forming bends, beads, knurls, rolls, or plate or to flatten, temper, or reduce gauge of material

SUN, CHANGHUA Warehouse Supervisor 4.

Brief Job Description: Responsible for the day to day management of people within the warehouse function

Basic Qualification: College graduate; at least 1-2 years of working experience in the related field; fluent in mandarin/ basic english Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate; at least 1-2 years of working experience in the related field; fluent in mandarin/ basic english

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate; at least 1-2 years of working experience in the related field; fluent in mandarin/ basic english

YOSHIDA, MASAJI App/cloud Support Analyst 5.

Brief Job Description: Contribute to various tasks to develop and improve natural language processing

Basic Qualification: Native level speaker of a language and fluent in english. Minimum of bachelors degree in linguistics computation linguistics or related discipline

BURBY, DAVID ANTONY Senior Operations Manager 12.

ARNOULD, JULIEN YVON G. SW/APP/Cloud Tech Support Analyst

6.

Brief Job Description: Problem solvers with a people focus, software/ application/cloud technical support professionals act as the ongoing interface between the client and the system or application. Dedicated to quality, they use their exceptional communication skills to keep our world class systems running and our clients happy. Fine-tuned interpersonal skills mean they can accurately define a client issue and deep product knowledge means they can interpret and design a resolution.

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

FURUYA, KYOSUKE Transaction Processing Analyst 7.

Brief Job Description: Responsible in executing operational processes within the service level agreement

KAZAOKA, TOMU Transaction Processing Analyst 8.

Brief Job Description: Performs accounts payable transactions with medium to high complexity

Basic Qualification: Bachelor’s degree holder in any field is preferred; fluent in both mandarin and English language

13.

NGO THI DUNG Investigation Specialist I 9.

Brief Job Description: Communicate effectively via email and/or telephone with our customer base - buyers, merchants and internal customers. Take appropriate action to identify and help minimize the risk posed by fraud patterns and trends. Consistently achieve/exceed weekly productivity and quality standards.

Basic Qualification: Excellent written and read Vietnamese& English skills, and an ability to compose a grammatically correct, concise, and accurate written response.

Excellent interpersonal skills, with the ability to communicate complex transactional issues correctly and clearly to both internal and external customers. Clear, crisp, and proactive documentation of operational procedures required to tackle known risk related. Self-disciplined, quick self-learning, diligent, proactive and detail oriented.

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

19.

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

Basic Qualification: College degree in any field. Experience managing/supporting healthcare teams/ account/client

Brief Job Description: Installing and configuring computer systems, diagnosing hardware and software faults and solving technical and applications problem.

CHANG, HUAN Customer Service Representative Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

GAO, XIAOFENG Customer Service Representative 21.

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

Brief Job Description: Delivers day to day operational marketing activities to the Chinese-speaking markets

Basic Qualification: Strong English and mandarin communication skills (both oral and written)

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

GAO, XUQIANG Customer Service Representative 22.

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

QUANG THUC MAN Operation Analyst 14.

Brief Job Description: Providing analytical job in actual business operation for the company and its worldwide clients

Basic Qualification: Has extensive experience in software systems and business solutions; is proficient and able to communicate in Mandarin or any Chinese language

XU, ZILONG Mandarin Operations Manager & Resident Agent 15.

Brief Job Description: The Mandarin Operations Manager & Resident Agent will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Basic Qualification: Proven experience as Mandarin Operations Manager & Resident Agent, excellent communication, interpersonal and presentation skills.

23.

24.

Brief Job Description: process and respond promptly in incoming communications and accurate message talking

HE, XIAOLI Finance Officer 17.

Brief Job Description: perform finance analysis, reporting and management tasks

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

LI, XUE Customer Service Representative 25.

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

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

LI, YANGBO Customer Service Representative 26.

16.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

LI, HONGYAN Customer Service Representative

CHINA ROAD AND BRIDGE CORPORATION Unit 2605, 2607, 2608, & 2609, High St. South Corporate Plaza, Tower 1, 9th Avenue Corner 26th St. Bonifacio Global City, Fort Bonifacio, City Of Taguig

ZHANG, KUN Administrative Officer

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

JI, JIFEI Customer Service Representative

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

CHINA RAILWAY INTERNATIONAL GROUP PHILIPPINES BRANCH OFFICE Units A&b 20/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

Basic Qualification: experience in administrative / fluent in Chinese and English

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

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

Basic Qualification: experience in finance / fluent in Chinese and English

LI, YE Customer Service Representative 27.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

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

CITIBANK N.A. 16th Floor, Citi Plaza, 34th St. Bgc, Fort Bonifacio, City Of Taguig

MALHOTRA, SONAL HR Generalist Group Manager

18.

Brief Job Description: The Human Resources (HR) Generalist Group Manager is a senior management level position responsible for accomplishing results through the management of a team or department to drive the delivery of day-to-day HR support in coordination with the Human Resources team. The overall objective of this role is to ensure the seamless delivery of HR services to client groups within an assigned organization

Basic Qualification: 1. 10+ years of overall HR experience gained from large multinational companies, Banking/ Finance services experience is preferred 2. Demonstrates ability to relate to and influence individuals at all levels and manage a team 3. Consistently demonstrates clear and concise written and verbal communication skills Salary Range: Php 500,000 and above

CLICKPLAY SPORTSGAME CORP. 3/f, #119, Dr. Lazcano St., Laging Handa, Quezon City

QUALIFICATION AND SALARY RANGE Basic Qualification: Degree in computer science or information technology.

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

COSMOLINK GLOBAL SOLUTIONS INC. 11, Ortigas St., Barangay 76, Pasay City

CASPO INCORPORATED 43/f, 45/f, 49/f Pbcom Tower, 6795 Ayala Avenue Corner V.a. Rufino Street, Bel-air, City Of Makati

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

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

Brief Job Description: Monitor daily all areas of performance metrics (call handling times, service levels & quality grades) to assure that

NGUYEN NGOC MAI Vietnamese Speaking Marketing Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Accounting, finance or any business related course graduates are preferred

DU, QUN IT Support

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

Basic Qualification: Fluency In Vietnamese Language

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

BOWENHILLS TECH INC. 16/f Bdo Towers Valero, 8741 Paseo De Roxas Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Complexity (degree of difficulty of an assignment or the level of problemsolving assessment and resolution required, as measured by degree of problem-solving, strategic vs. Routine focus, and stakeholder interactions (e.g. – executives, supervisor, etc.)): •requires analysis and solving of lower-complexity problems.

•interaction is with peers within accenture before updating supervisors. Likely has limited exposure with clients and/or accenture management.

Basic Qualification: Proficiency in both English and Mandarin

No.

20.

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

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

Brief Job Description: Communicates Effectively Via Live Video Call With Our Customer Base – Third Party Sellers Who Want To Sell On Amazon In Its Various Marketplaces

QUALIFICATION AND SALARY RANGE

BETAINE (PH) B.V - PHILIPPINE BRANCH 11th-21st Flr., Zeta Tower Bridgetowne Ext. E Rodriguez Jr. Ave. Ortigas, 3, Ugong Norte, Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate; at least 1-2 years of working experience in the related field; fluent in mandarin/ basic english

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

TRAN HOAI THUONG Seller Support Associate

11.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TANG XIAO HUI Investigation Specialist I

www.businessmirror.com.ph

LIANG, PINFEI Customer Service Representative 28.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

NGO THI THU HIEN Customer Service Representative 29.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate.

2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, Fukien & Cantonese) At least college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in speaking, writing and reading (mandarin, Fukien & Cantonese) At least college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TANG, XIUZE Customer Service Representative 30.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates

No.

43.

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

WANG, SHENGYU Customer Service Representative 31.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate. 2-3years work experience or fresh graduates

44.

XIE, NANNAN Customer Service Representative 32.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

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

XIONG, LU Customer Service Representative 33.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates

YANG, XINLONG Customer Service Representative 34.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

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

ZHAO, XINYU Customer Service Representative 35.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

45.

ZHU, DAOHUI Customer Service Representative 36.

Brief Job Description: Interacting w/ customers via email, assists w/ complaints, orders, and other queries.

Basic Qualification: Fluent in speaking, writing and reading (mandarin, Fukien & Cantonese) At least college graduate 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

JOSHI, RAJESH General Manager, Philippines 37.

Brief Job Description: Full P&L Accountability of the Business with a deep understanding of all functions. Lead, inspire and coach a team of 60 people

Salary Range: Php 500,000 and above

46.

38.

39.

40.

41.

Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to KHUU DU LAN Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to

LA GIA HUE Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to

MACH THE HANG Vietnamese Speaking Customer Service Representative Brief Job Description:Immediately escalating serious complaints or issues that you are not equipped to

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

47.

48.

42.

Brief Job Description: Immediately Escalating Serious Complaints or Issues that you are not Equipped to

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

Brief Job Description: The Project Manager will be a strategist and a Leader able to steer the company to the most profitable implementing its vision and long term goals

ZHANG, JIALI Project Manager 49.

Brief Job Description: The Project Manager will be a strategist and a Leader able to steer the company to the most profitable implementing its vision and long term goals

HU, KUO-HSIANG Mandarin Technical Support 50.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

JHANG, ZONG-CYUAN Mandarin Technical Support 51.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

TSENG, WEN-HSIN Mandarin Technical Support 52.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

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

WANG, CHENGMEI Operation Assistant (Chinese Speaking) 53.

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

56.

Basic Qualification: Proven Experience as Project Manager, Excellent Communication , Interpersonal and Presentation Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as project Manager Excellent Communication Interpersonal and Presentation Skills Salary Range: Php 30,000 - Php 59,999

WANG, WEILIN Head Of Sales And Marketing 57.

Basic Qualification: Proven Experience as Project Manager, Excellent Communication , Interpersonal and Presentation Skills Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assist recruitment and onboarding processes, Provide excellent customer service.

58.

54.

Brief Job Description: To ensure the implementation and localization of the business process

KHOR FANG CHENG Senior Project Manager For Carrier Network Full Turn Key (ftk) Project Brief Job Description: Ensure income flow of the project

Brief Job Description: Understanding of tobacco industry environment.

Develop and lead the SIBI strategy in order to support market KPI achievement, assess critical business and strategic levers, conduct rigorous research and make recommendations through a data-driven process that ultimately position the company for long-term success.

GO, SUK JOO IT Support Specialist 59.

Brief Job Description: IT support specialists provide organizations with information technology support to optimize operational efficiency.

PARK, JANGHA Operations Manager (Korean) 60.

Brief Job Description: Operations manager in performing their duties, ensure proper staffing at all store

Basic Qualification: Preferably 6 months experience with the above position, Can multi-task and keen to details, Any nationality who can speak and write Chinese fluently.

POTGIETER, DAVID WALTER HSE Manager 61.

Brief Job Description: coordinate with the implementation & maintenance of the project’s safety management program

PORNPRAPAI, KRIANGSAK Project Manager 62.

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

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

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

Brief Job Description: ensure effective management of the company’s project & that safe, environmentally acceptable working methods & practices are implemented

Basic Qualification: Minimum 10 yrs.’ operational experience in the application of safety management principles in the construction industry Salary Range: Php 30,000 - Php 59,999 Basic Qualification: minimum 8 yrs’ experience in the construction industry with demonstrated success in delivering to targets, timeframes, planning & logistics management

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City LE THI HONG PHUONG Chinese Customer Service 63.

Brief Job Description: Managing incoming calls and customer service inquiries LE VAN MANH Chinese Customer Service

64.

Brief Job Description: Managing incoming calls and customer service inquiries LOC SAU MANH Chinese Customer Service

65.

Brief Job Description: Managing incoming calls and customer service inquiries LUONG HUU TRUONG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LYU SHWIN KYAUNG Chinese Customer Service

67.

Brief Job Description: Managing incoming calls and customer service inquiries MIAO, SISI Chinese Customer Service

68.

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

I-PLEX MARKETING INC. 24/f Bgc Corporate Center, 30th Street Corner 11th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: MA/BA degree in statistics/marketing/ economics/mathematics/ business admin/ engineering.

Salary Range: Php 500,000 and above

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

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

MC CONNELL DOWELL PHILS., INC. Level 4 Nol Tower, Commerce Ave., Alabang, City Of Muntinlupa

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

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

Basic Qualification: Bachelor’s degree; w/ experience in business management or related field; must be fluent in both written and verbal Mandarin language

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

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

Basic Qualification: Proficiency in English, Mandarin and other multi-lingual language.

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

MAGKING SERVICES CORPORATION Unit 5d Rose Industries Bldg., #11, Pioneer Street, Kapitolyo, City Of Pasig

66.

YANG, FENGYI HR Manager For Digital Business Group Project

Brief Job Description: Provide the strategic framework for sales, marketing & campaign direction encompassing branding, positioning & value in the market; develop the company’s marketing objectives & policies & conduct market research; liaise with Chinese clients.

SHIN, BO YOUNG Strategic Insights & Business Intelligence Director

Basic Qualification: Proficiency in English, Mandarin and other multi-lingual language.

Basic Qualification: Proficiency in English, Mandarin and other multi-lingual language.

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

JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building, 28th St. Cor. 11th Avenue, Fort Bonifacio, City Of Taguig

Basic Qualification: Proven Experience as Project Manager, Excellent Communication , Interpersonal and Presentation Skills Salary Range: Php 30,000 - Php 59,999

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

QUALIFICATION AND SALARY RANGE

IMPRIMIS PHILIPPINES INC. Unit 3012 Tower 2, High Street South Corporate Plaza Cor. 9th Avenue And 26th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: 10 yrs. Mang. Experience within a contact center workforce dept.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LEE QI HUANG Chinese Speaking Data Entry Clerk

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

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

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

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

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

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

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

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

No.

GILGAMESH CORPORATION Unit No. U-1a&1b, Flr No. 6/f Eighty One Newport Blvd., Newport City, Vab St., Barangay 183, Pasay City

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

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

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

FRONTIER POINT MANAGEMENT SOLUTIONS INC. 29/f Techzone Bldg., Sen. Gil Puyat Ave., San Antonio, City Of Makati

55.

PHAO TU ANH Vietnamese Speaking Customer Service Representative

Brief Job Description: The Account Manager will be a strategist and a Leader able to steer the company to the most profitable implementing its vision and long term goals

LIU, YONGFENG Project Manager

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

Brief Job Description: Effectively manage overall capacity need across multiple centers

ABUDUWEILI ABULIKEMU Project Manager

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati DOAN HUE NHUNG Vietnamese Speaking Customer Service Representative

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

HUANG, XINGBO Account Manager

DIAGEO PHILIPPINES, INC. Unit 1 17th Floor, Ore Central, 9th Ave. Cor. 31st Street, Fort Bonifacio, City Of Taguig Basic Qualification: Exercise confidence in managing risk, volatility and ambiguity.

Be obsessed with winning with Customers accompanied by a relentless focus on commercial execution.

TRAN KIM DUNG Vietnamese Speaking Customer Service Representative

QUALIFICATION AND SALARY RANGE

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

Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate. 2-3years work experience or fresh graduates Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Immediately Escalating Serious Complaints or Issues that you are not equipped to

LAFUENTE, NICOLAS DANIEL Corporate Workforce Director

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate 2-3years work experience or fresh graduates

TANG CONG DIN Vietnamese Speaking Customer Service Representative

A7

ESTABLISHMENT / ADDRESS

EPERFORMAX CONTACT CENTERS CORP. Scape Building, Macapagal Avenue Corner Pearl Drive, Central Business Park 1, San Rafael, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (mandarin, folkien & cantonese) atleast college graduate. 2-3years work experience or fresh graduates

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, March 10, 2022

Brief Job Description: Managing incoming calls and customer service inquiries NANG NON HOM KHAM Chinese Customer Service

69.

Brief Job Description: Managing incoming calls and customer service inquiries

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

Thursday, March 10, 2022

A8

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

NEW WEATHER FORCES GROUP INC. 26/f The Enterprise Center Tower 2, 6766 Ayala Ave., San Lorenzo, City Of Makati

QI, XINGCHEN Chinese Customer Service Representative 70.

Brief Job Description: To respond to customers concerns on site and supply solutions to their concerns

ZHAO, NANNAN Chinese Customer Service Representative 71.

Brief Job Description: To respond to customers concerns on site and supply solutions to their concerns

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

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

72.

Brief Job Description: Handles Indian Acct. Marketing Concerns

SHI, GUANGXIANG Chinese Site Manager 81.

82.

73.

Brief Job Description: Responsible for ensuring that the final product observes the client, company, and international quality standards.

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

83.

KANG, JIAN Chinese Project Manager 74.

Brief Job Description: Planning and defining scope of the project; activity planning and sequencing; resource planning

84.

Brief Job Description: To supervise and control all strategic and business aspects of the company

85.

76.

Brief Job Description: Ensure that all price changes and delivery of events are timely and accurate

TONY Bahasa Indonesian Language - Trade Specialist 77.

Brief Job Description: Ensure that all price changes and delivery of events are timely and accurate

86.

78.

Brief Job Description: Responsible for delivering HR advice and seamless end-to-end resolution of HR queries

WANG, FEILUN Business Development Analyst

Basic Qualification: Bachelor’s / Master in Business Ad

Brief Job Description: create, implement and execute the business development growth

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

88.

80.

Brief Job Description: responsible for the growth and operations of Shopee mall

Basic Qualification: project management experience in top consulting firms Salary Range: Php 150,000 - Php 499,999

Brief Job Description: • Responsible for providing customer service and third-party management expertise to our vendor relationships. Our vendor teams provide inbound and outbound support of the C&S and M&R call centers.

• The Manager will provide support for multiple vendor locations, reporting in to an Associate Director. • This individual will manage the vendor relationships, act as a Subject Matter Expert, and drive performance at the site and across the Vendor’s locations.

Basic Qualification: Fluent in Vietnamese (verbal and written skills) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills)

DUONG TAM NHI Vietnam-speaking Customer Service Officer 93.

Basic Qualification: Must be flexible, analytical and good communicators. In the next few sections, we look at the academic requirements, professional certifications and soft skill requirements for BA roles. Fluency in English and Mandarin Language is a must

94.

Brief Job Description: Working with the construction team, architectural / design team and clients. Responsible for negotiating and maintaining the balance between design goals, projects schedules and project financial performance.

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

FANG, ZENGHAO Mandarin Customer Support Representative 89.

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

95.

ZHANG, CHANGXIAO Mandarin Customer Support Representative 90.

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

DINH VAN TU Bilingual Technical Support 96.

LE HA MINH Vietnamese Customer Support Representative Brief Job Description: Supports customers by providing helpful information, answering questions and responding to complaints.

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

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

TTEC CUSTOMER CARE MANAGEMENT PHILIPPINES, INC. Five E-com, 10th Floor, Harbor Drive Corner Palm Coast Avenue, Barangay 76, Pasay City

Brief Job Description: Deals with Hardware and Application Support queries and Issues reported to the

NAY AUNG KYAW Bilingual Technical Support 97.

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

Brief Job Description: Deals with Hardware and Application Support queries and Issues reported to the

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

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

CINDY Indonesian-speaking Customer Service Officer 98.

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

JEFFRI Indonesian-speaking Customer Service Officer 99.

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

NADYA WIBOWO Indonesian-speaking Customer Service Officer 100.

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

ROMYEN, KRITTIKA Thai-speaking Customer Service Officer 101.

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

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

Brief Job Description: Prepares product or service reports by collecting and analyzing customer information

Basic Qualification: Foreign language speaking

XUSHENG TECHNOLOGY CORP. Flr. No. 1-5 Bldg., No. 0050 F.b. Harrison St. Cor. Williams And Roberts St. Zone 4, District 1, Barangay 13, Pasay City

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

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

Brief Job Description: Prepares product or service reports by collecting and analyzing customer information TRAN NGOC BAO TRAM Vietnam-speaking Customer Service Officer

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

Basic Qualification: Graduate of engineering courses. With relevant experience in main office; on TOENEC corporation in japan in the construction industry, bother commercial and industrial.

Brief Job Description: Prepares product or service reports by collecting and analyzing customer information LE TAN DUNG Vietnam-speaking Customer Service Officer

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

Basic Qualification: French language, excellent written communication skills, support for corporate mobiles devices, support for Skype conferencing and analytical skills to provide inputs to other next level IT teams.

Basic Qualification: • 3+ years of customer service/call center experience, in a business manager, client services manager, or operations manager role.

• Intermediate level of proficiency with Windows PC applications, Excel and Microsoft Office. o Excel - Experience with formulas, input/edit data, able to navigate tables/pivot tables. o Word - Experience with creating and editing documents. o Powerpoint - Experience with creating presentations. • 1+ years client facing or vendor management experience.

• Willing and able to travel.

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

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

Basic Qualification: At least Two years of Working Experience in the related field, Fluent in Mandarin Chinese Language

QUALIFICATION AND SALARY RANGE

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

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

91.

LIN, AN Manager, Business Development (Mall)

Brief Job Description: Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Mandarin Language is a must.

Leading and executing various special projects with senior leadership primarily related to the evaluation of possible growth strategies or driving operational improvement.

MURANAKA, YOSHITOMO Project Manager

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

WEN, SHAO-HSUAN Assistant Manager, Business Development (Category Management (H&B))

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

TOENEC PHILIPPINES INCORPORATED 4/f Valderrama Bldg., 107 Esteban St., San Lorenzo, City Of Makati

Basic Qualification: Bachelor’s degree in business marketing and other relevant courses

Basic Qualification: Native Portuguese speaker, good understanding of Brazil HR model, knowledge of global policies

92.

TANZILA TRADING INC. U-29 3/f Bac., Bagong Milenyo F.b. Harrison St., Barangay 76, Pasay City

Basic Qualification: Bachelor’s degree in business marketing and other relevant courses

SHOPEE PHILIPPINES INC 37/f Net Park, 5th Avenue E-square Crescent Park West Bgc, Fort Bonifacio, City Of Taguig

79.

Brief Job Description: To keep affected users informed about the progress, account administration, provides input for continuous service improvement

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

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

Basic Qualification: Recruit, Hire and Train Sales Team

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

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg., 130 Dela Rosa St., San Lorenzo, City Of Makati

BASILE, ANA PAULA Hr Advisor Brazil

Brief Job Description: Develop Create and Modify General Computer Applications Software or Specialized utility Programs

ETHY-ETHY, JEAN-JACQUES Associate Consultant - French Bilingual

Basic Qualification: College / bachelor degree with excellent communication skills, strong leadership

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TORRES, ALEXANDER Sr. Partner Manager

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

SYNTEL INFOTECH, INC. 10th Floor Science Hub Tower 3, Mckinley Hill Cyberpark, Brgy. Pinagsama 1630, City Of Taguig

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

SHANG SOFTWARE SOLUTIONS, INC. 11/f Pbcom Tower, Ayala Avenue, Salcedo Village, Bel-air, City Of Makati

ANDY CHANDRA Bahasa Indonesian Language - Trade Specialist

Brief Job Description: Installs and configures computer hardware operating systems and applications

KIM, SUNG KWON Software Development Specialist

87.

75.

No.

Basic Qualification: Recruit, Hire and Train Sales Team

SUPREME CHENGHAO MANAGEMENT OPC Level 26-a Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati

SAEBOM KOREA OPC 2/f 4726, Eduque St., Poblacion, City Of Makati

KANG, MISEON President & Ceo

Brief Job Description: Installs and configures computer hardware operating systems and applications PHAM VAN GIANG IT Officer

PHILIPPINES COMMUNICATIONS NETWORK CONSTRUCTION INC. Unit E-2004a East Tower, Psec Exchange Road Ortigas Center, San Antonio, City Of Pasig Basic Qualification: College graduate; preferably 3 years of working experience in the related field; fluent in mandarin

Brief Job Description: Managing organizational sales by developing a business plan that covers sales, Revenue and expense controls

CHANG, HUNG IT Officer

PHIL-TOWER CONSORTIUM INC. Unit S-08 Eco Tower Bldg., 32nd St. Cor. 9th Ave., Bgc, Fort Bonifacio, City Of Taguig

WOODRUFF, PETER JACQUES Quality Assurance And CME Director

QUALIFICATION AND SALARY RANGE

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg., Edsa Corner Macapagal Ave. St. Zone 10, District 1, Barangay 76, Pasay City

Basic Qualification: Fluent in English and College Graduate

Basic Qualification: Bachelors and PostGraduate degree in Civil/Structural Engineering or Telecom.

At least 15-20 years of work experience in telecommunication tower design and supervision.

Minimum three (3) years experience in project management, civil, mechanical, electrical AC/ DC works and telecom implementation network rollout projects in a senior management capacity. Expert in project execution, according to schedule and budget.

Expert in quality inspection, auditing and testing experience.

Experience in effective usage of data analysis tools and statistical analysis. Experience with more advanced tower markets.

Brief Job Description: Managing Organizational Sales by Developing a Business plan That covers sales, Revenue and Expense Controls XIE, XINLEI Chinese Site Manager

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS

SHSY ELECTRIC POWER CORPORATION 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

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

PARANAQUE ONLINE PALENGKE INC. 305 Mtf Building, Dr. A Santos Ave., San Isidro, City Of Parañaque

ATUL KUMAR Marketing Executive (Indian Client)

No.

www.businessmirror.com.ph

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

THONGSUTTHIWAT, NANPHAKWARA Thai-speaking Customer Service Officer 102.

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

Basic Qualification: Indonesian speaking and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian speaking and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Indonesian speaking and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Thai speaking and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Thai speaking and written Salary Range: Php 30,000 - Php 59,999

*Date Generated: Mar 9, 2022 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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

The World

US strikes harder at Putin, bans Russian oil imports

W

ASHINGTON—Striking harder at Russia’s economy, President Joe Biden on Tuesday ordered a ban on Russian oil imports in retaliation for Vladimir Putin’s onslaught in Ukraine. The major trade action, responding to the pleas of Ukraine’s embattled leader, thrust the US out front as Western nations seek to halt Putin’s invasion.

Americans will feel pain, too—at the gas pump—Biden acknowledged, declaring, “Defending freedom is going to cost.”

The imports have been a glaring omission in the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady stream of cash flowing to Russia despite otherwise severe restrictions on its financial sector.

“We will not be part of subsidizing Putin’s war,” Biden said, calling the new action a “powerful blow” against Russia’s ability to fund the ongoing offensive.

Biden said the US was acting in close consultation with European allies, who are more dependent on Russian energy supplies and who he acknowledged may not be able to join in immediately. The announcement marked the latest Biden attempt at cutting off Russia from much of the global economy and ensuring that the Ukraine invasion is a strategic loss for Putin, even if he manages to seize territory.

“Ukraine will never be a victory for Putin,” Biden said.

Ukrainian President Volodymyr Zelenskyy in a tweet praised Biden’s action: “Thankful for US and @POTUS personal leadership in striking in the heart of Putin’s war machine and banning oil, gas and coal from US market. Encourage other countries and leaders to follow.”

The European Union this week will commit to phasing out its reliance on Russia for energy needs as soon as possible, but filling the void without crippling EU economies will likely take some time. The UK, which is no longer part of the EU, announced Tuesday that oil and oil products from Russia will be phased out by the end of the year.

Unlike the US, which is a major oil and gas producer, Europe relies on imports for 90 percent of its gas and 97 percent of its oil products. Russia supplies 40 percent of Europe’s gas and a quarter of its oil. The US does not import Russian natural gas.

The issue of oil sanctions has created a conflict for the president between political interests at home and efforts to impose costs on Russia. Though Russian oil makes up only a small part of US imports, Biden has said he was reluctant to ban it, cutting into supplies here and pushing gasoline prices higher.

Inflation is at a 40-year peak, fueled in large part by gas prices, and that could hurt Biden heading into the November midterm elections.

“Putin’s war is already hurting American families at the gas pump,” Biden said, adding, “I’m going to do everything I can to minimize Putin’s price hike here at home.”

Gas prices have been rising for weeks due to the conflict and in anticipation of potential sanctions on the Russian energy sector. The average price for a gallon of gasoline in the US hit a record $4.17 Tuesday, rising by 10 cents in one day, and up 55 cents since last week, according to auto club AAA. Biden said it was understandable that prices were rising, but cautioned the US energy industry against “excessive price increases” and exploiting consumers.

Even before the US ban many Western energy companies including ExxonMobil and BP moved to cut ties with the Russia and limit imports. Shell, which purchased a shipment of Russian oil this weekend, apologized for the move on Tuesday amid international criticism and pledged to halt further purchases of Russian energy supplies. Preliminary data from the US Energy Department shows imports of Russian crude dropped to zero in the last week in February.

In 2021, the US imported roughly 245 million barrels of crude oil and petroleum products from Russia—a one-year increase of 24 percent, according to the US Energy Information Administration.

“It’s an important step to show Russia that energy is on the table,” said Max Bergmann, a former State Department official who is now a senior fellow at the Democratic-leaning Center for American Progress.

Bergmann said it wasn’t surprising that the US was able to take this step before European nations, which are more dependent on Russian energy.

“All of this is being done in coordination, even if the steps are not symmetrical,” he said. “We are talking to them constantly.”

The White House said the ban on new purchases was effective immediately but the administration was allowing a 45-day “wind down” for continued delivery under existing contracts.

The news of Biden’s decision Tuesday was first reported by Bloomberg.

The White House announcement comes amid bipartisan pressure on Capitol Hill to ban Russian energy and impose other economic costs.

Last week, House Speaker Nancy Pelosi gave a big boost when she declared, “Ban it.”

On Monday, Democrats on the powerful Ways & Means Committee posted, then removed, an announcement on a bipartisan bill to ban Russian oil imports and slap further trade sanctions on the country, according to an aide, because of pushback from the White House against acting before Biden had made his decision.

“President Biden is finally doing what members of Congress have been pushing for all along,” Sen John Barrasso, R-Wyo., and a member of party leadership, said Tuesday. “His decision to ban Russian oil is a much-needed step to kill Putin’s cash cow.”

Said Jason Furman, a Harvard professor and former economic adviser to President Barack Obama: “The United States economy can fully handle any of the challenges associated with higher oil prices. But it will bring some challenges. We’re going to have higher prices at the pump, and there’s no way around that.”

Pelosi said the House would go forward with a vote Tuesday on legislation to ban the Russian oil imports, impose trade costs on Russia and expand sanctions authority against Russians for attacks on civilians in Ukraine.

But late Tuesday, the House pushed back a vote on the bill amid disagreements among lawmakers over details. The House was expected to vote on the bill Wednesday, according to an aide granted anonymity to discuss the situation.

Before the invasion, Russian oil and gas made up more than a third of government revenues.

Global energy prices have surged after the invasion and have continued to rise despite coordinated releases of strategic reserves, making Russian exports even more lucrative.

As a consequence of Russia’s invasion of Ukraine, the US and international partners have sanctioned Russia’s largest banks, its central bank and finance ministry, and moved to block certain financial institutions from the SWIFT messaging system for international payments.

But the rules issued by the Treasury Department allow Russian energy transactions to keep going through non-sanctioned banks that are not based in the US in an effort to minimize any disruptions to the global energy markets.

German Chancellor Olaf Scholz has said he opposes a European ban on Russian energy imports and that there’s no other way to meet the European Union’s needs for motor fuel, heat and electricity, and industrial use. Vice Chancellor Robert Habeck said Tuesday that when he visited Washington last week, US officials acknowledged Europe was in a different situation.

“They told me in the talks that they will neither demand nor ask that Germany do the same. But I would extrapolate from that for us, and for me, that we need as soon as possible to create the possibility to take similar measures.”

While Russian oil makes up a small amount of overall US energy imports, the US could replace Russian crude with imports from other oil-rich nations, but that could prove politically problematic.

Key US senators are warning the Biden administration from seeking any oil import deal from the Nicolas Maduro regime in Venezuela.

“The Biden administration’s efforts to unify the entire world against a murderous tyrant in Moscow should not be undercut by propping up a dictator under investigation for crimes against humanity in Caracas,” said Sen. Bob Menendez, D-N.J., the chairman of the Foreign Relations Committee, in a statement late Monday. “The democratic aspirations of the Venezuelan people, much like the resolve and courage of the people of Ukraine, are worth much more than a few thousand barrels of oil.”

AP writers Matthew Daly, Lisa Mascaro and Chris Megerian contributed.

BusinessMirror

Thursday, March 10, 2022

A9

Russians pressure Ukrainian cities amid fierce resistance

L

VIV, Ukraine—Ukrainian forces were bolstering defenses in key cities Wednesday as Russia’s advance faltered amid fierce resistance in some areas, the general staff of Ukraine’s armed forces said, while the strategic port city of Mariupol remained encircled as a humanitarian crisis grew.

Across the country, thousands of people are thought to have been killed, both civilians and soldiers, in nearly two weeks of fighting.

Russian forces have seen their advances stopped in certain areas—including around Kyiv—by fiercer resistance than expected from the Ukrainians.

Ukraine’s general staff said in a statement that it was building up defenses in cities in the north, south and east, and that forces around Kyiv are resisting the Russian offensive with unspecified strikes and “holding the line.”

In the northern city of Chernihiv, Russian forces are placing military equipment among residential buildings and on farms, the Ukrainian general staff said. And in the south, it said Russians dressed in civilian clothes are advancing on the city of Mykolaiv.

It did not provide any details of new fighting.

On the diplomatic front, Russian Foreign Minister Sergey Lavrov was expected to fly to Turkey later Wednesday and meet with Ukrainian Foreign Minister Dmytro Kuleba and Turkish Foreign Minister Mevlut Cavusoglu on Thursday, Cavusoglu’s office said.

The trilateral meeting was to take place on the sidelines of a summit being hosted by Turkey, a NATO member nation, but no further details were announced.

In Kyiv, back-to-back air alerts Wednesday morning urged residents to get to bomb shelters as quickly as possible over fears of incoming Russian missiles. An all-clear was given for each alert soon afterward.

Such alerts are common, though irregular, keeping people on edge.

Kyiv has been relatively quiet in recent days, though Russian artillery has pounded the outskirts.

Kyiv regional administration head Oleksiy Kuleba said the crisis for civilians was growing in the capital, with the situation particularly critical in the city’s suburbs.

“Russia is artificially creating a humanitarian crisis in the Kyiv region, frustrating the evacuation of people and continuing shelling and bombing small communities,” he said.

More than 2 million people have now fled Ukraine, according to the United Nations.

As Moscow’s forces have laid siege to Ukrainian cities, the fighting has thwarted attempts to create corridors to safely evacuate civilians.

One evacuation did appear successful, with Ukrainian authorities saying Tuesday that 5,000 civilians, including 1,700 foreign students, had been brought out via a safe corridor from Sumy, an embattled northeastern city of a quarter-million people.

That corridor was to reopen for 12 hours on Wednesday, with the buses that brought people southwest to the city of Poltava the day

before returning to pick up more refugees, regional administration chief Dmytro Zhyvytskyy said.

Priority was being given to pregnant women, women with children, the elderly and the disabled.

Russia, which calls its invasion of Ukraine a “special military operation,” has focused official statements about the war almost exclusively on fighting and evacuations in the separatist-held regions, where Russian-backed forces have been fighting Ukraine’s military since 2014.

On Wednesday, Defense Ministry spokesman Maj. Gen. Igor Konashenkov said Russian forces had thwarted a large-scale attack plot in the east, citing in a televised statement what he claimed was an intercepted Ukrainian National Guard document.

“The special military operation of the Russian armed forces, carried out since February 24, pre-empted and thwarted a largescale offensive by strike groups of Ukrainian troops on the Luhansk and Donetsk People’s Republics, which are not controlled by Kyiv, in March of this year,” Konashenkov said.

He did not address Russia’s shelling, airstrikes and attacks on Ukrainian civilians or cities, Russian military casualties or any other aspect of its bogged-down campaign.

In the south, Russian troops have advanced deep a long U k r a i ne’s coa st l i ne i n wh at could establish a land bridge to Crimea, which Moscow seized from Ukraine in 2014.

The city of Mariupol has been surrounded by Russian soldiers for days and a humanitarian crisis is unfolding in the encircled city of 430,000.

Corpses lie in the streets of the city, which sits on the Asov Sea. Hungry people break into stores in search of food and melt snow for water. T housands hudd le in basements, trembling at the sound of Russian shells pounding their city.

“Why shouldn’t I cry?” Goma Janna demanded as she wept by the light of an oil lamp below ground, surrounded by women and children. “I want my home, I want my job. I’m so sad about people and about the city, the children.”

An attempt Tuesday to evacuate civilians and deliver badly needed food, water and medicine through a designated safe corridor failed, with Ukrainian officials saying Russian forces had fired on the convoy before it reached the city.

Mariupol, said Ukrainian Deputy Prime Minister Iryna Vereshchuk, is in a “catastrophic situation.”

Natalia Mudrenko, the highestranking woman at Ukraine’s U.N. Mission, told the Security Council that the people of Mariupol have

An apartment building is seen damaged after shelling in Kharkiv, Ukraine on Tuesday, March 8, 2022. AP/Andrew Marienko

“been effectively taken hostage,” by the siege. Her voice shook with emotion as she described how a 6-year-old died shortly after her mother was killed by Russian shelling. “She was alone in the last moments of her life,” she said.

Authorities in Mariupol planned to start digging mass graves for all the dead. The shelling has shattered buildings, and the city has no water, heat, working sewage systems or phone service.

Theft has become widespread for food, clothes, even furniture, with locals referring to the practice as “getting a discount.” Some

residents are reduced to scooping water from streams.

With the electricity out, many people are relying on their car radios for information, picking up news from stations broadcast from areas controlled by Russian forces or Russian-backed separatists.

Ludmila Amelkina, who was walking along an alley strewn with rubble and walls pocked by gunfire, said the destruction had been devastating.

“We don’t have electricity, we don’t have anything to eat, we don’t have medicine. We’ve got nothing,” she said, looking skyward. AP

A10 Thursday, March 10, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Surging oil prices: What is govt doing?

A

T the start of the pandemic, crude oil prices plummeted as economies around the world shut down because of Covid-19. A historic drop occurred on April 20, 2020, when the price of West Texas Intermediate crude dropped 306 percent, to settle at negative $37.63 a barrel on the New York Mercantile Exchange. The price of oil futures turning negative means some sellers were paying buyers to take oil.

As countries started opening borders, demand recovered faster than producers can drill oil, drying up inventories. Just a month ago, forecasters predicted oil would average around $80 a barrel this year. That was before Russia invaded Ukraine on February 24. Brent oil soared as high as $139.13 a barrel on Monday before easing to around $123. The bad news is that oil traders fear prices may pass $200 a barrel in March.

From Bloomberg: “Prices to buy call options for higher crude prices surged Monday as the market assessed the possibility of a supply cutoff from Russia, one of the world’s biggest exporters. At least 200 contracts for the option to buy May Brent futures at $200 a barrel traded on Monday, according to ICE Futures Europe data. The options expire on March 28, three days before the contract settles.”

The International Monetary Fund warned on Saturday that Russia’s war with Ukraine and the subsequent sanctions imposed upon President Vladimir Putin’s country will have a severe impact on the global economy. “While the situation remains highly fluid and the outlook is subject to extraordinary uncertainty, the economic consequences are already very serious. Energy and commodity prices— including wheat and other grains—have surged, adding to inflationary pressures from supply chain disruptions and the rebound from the Covid‑19 pandemic. Price shocks will have an impact worldwide, especially on poor households for whom food and fuel are a higher proportion of expenses. Should the conflict escalate, the economic damage would be all the more devastating,” the IMF said.

The Philippine economy could lose about P330 billion due to the fuel price crisis, according to initial estimates made by the National Economic and Development Authority (Neda). In an ad hoc committee hearing at the House of Representatives on Monday, Neda National Policy and Planning Staff Director Reynaldo Cancio said this represents a reduction of about 0.3 to 0.9 percentage points from the country’s GDP growth. However, he stressed that this is “subject to discussions” and would have to be “vetted by other agencies.” (Read, “Fuel crisis to slash P330 billion from economy,” in the BusinessMirror, March 7, 2022) Many countries are adopting policies to bring relief to citizens, especially at the gas pumps. In the Philippines, 90 percent of the people most affected by the severe impact of skyrocketing oil prices have no cars. These are poor households that have no weapon to fight the scourge of surging prices. Socioeconomic Planning Secretary Karl Kendrick Chua recently submitted to Malacañang a list of recommendations to address the potential shocks of high oil prices.

Amid the unabated spike in oil prices, there’s an emerging economic emergency that threatens the well-being of the Filipino people. We hope that government authorities will promptly realize the urgency of the situation and come up with comprehensive measures that can help mitigate the impact of the crisis.

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OUTSIDE THE BOX

W

hile some are trying to calculate how many political “angels” can fit in 1 square meter at an election rally and others are trying to determine how many Facebook “Likes” it takes to win a presidential election, what is happening in the financial and asset markets defies adequate description.

One anonymous “bespoke consulting firm” has made a remarkable effort. He who calls himself “Chicken Little” turns to Stephen Hawking and his 1988 book A Brief History of Time.

Mr. Little compares what is happening now to Chapter 3. Hawking writes about the concept of a gravitational singularity as “a condition in which gravity is so intense that spacetime itself breaks down catastrophically.” “This means that even if there were events before the Big Bang, one could not use them to determine what would happen afterward, because predictability would break down at the Bang. Correspondingly, if we know only what has happened since the Big Bang, we could not determine what happened beforehand. Time had a beginning at the Big Bang.”

In other words, if we knew what happened before the Big Bang, it would not matter because those events have no effect on what hap-

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pens after the Big Bang. And all the events after the Big Bang are not part of what happened before the Big Bang. The Big Bang is a spacetime singularity. Nothing before matters; nothing after can be predicted.

Are we going through an Economic Singularity when the beliefs that created the foundation of international economic system breaks down?

TheRussianinvasionofUkraine— and the Philippine election—once again highlights the human need for feeling morally superior in standing on the side of “good” versus “evil.”

Which action is “good” and which is “evil?” A train is racing down the track to a fork in the rails. Unknowing of the danger, stopped on one track is a prison bus carrying five convicted criminals. On the other track is a stranded train worker. You must turn the switch to send the train to one track or the other. Decide who lives and who dies.

Economic self-sufficiency for the Philippines is impossible no matter what the politicians say.

But we need to start banding together with other Asean members. Otherwise, realistically, the elephants will crush the mice.

The point is that regardless of right or wrong and what should or should not be done for the Ukraine situation, there may be a high chance that we are witnessing an economic singularity event. Nothing matters before and we have no idea what comes after you decide to pull the lever on the railroad track.

India is one of the largest buyers of Russian arms with 60 percent of its military hardware inventory from Russia. The US is deciding whether to sanction India because of this. “December 8, 2021: the down payment for the Philippine Air Force Russiansourced heavy-lift helicopter acquisition program will be released soon.”

“January 15, 2022: Philippines to acquire missile system from India for $375 million.”

Could the Philippines ever be on the sanction list? And what would the US require from the Philippines in the future? Maybe a military base or two?

“March 8, 2022: McDonald’s Corp. said it would ‘temporarily’ close all 847 of its restaurants (84 percent company owned) in Russia. The company has 62,000 Rus-

sian employees.” KFC, Pizza Hut, Burger King, Subway, Papa John’s, Starbucks and Domino’s Pizza operations are owned by local Russian franchisees. How will this impact future foreign direct investment both for the investors and the receiving countries?

The US and its allies are cutting off the Russian central bank’s access to most of its $630 billion of foreign reserves. If you cannot access it, do you really own it? Italy is confiscating hard assets of Putin-friendly Russian oligarchs. What sane foreign asset owner including major corporations of every country wouldn’t at least consider liquidating assets now and onshoring what wealth they can preserve?

“We are seeing a polarization of the global economy into at least two camps—the West in one and Russia/ China/Iran/Saudi Arabia (accounting for 30 percent of total global economy) plus aligned countries in the other.” Even if the war ends tomorrow, outrageous damage to the global economic system has already been done.

Economic self-sufficiency for the Philippines is impossible no matter what the politicians say. But we need to start banding together with other Asean members. Otherwise, realistically, the elephants will crush the mice.

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

With Ukraine war, Europe’s geopolitical map is moving again

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Global economic collapse?

By Raf Casert | The Associated Press

B

RUSSELS—Even though Russia has lost influence and friends since the collapse of the Soviet empire in 1989, the nuclear superpower still holds sway over several of its neighbors in Europe and keeps others in uneasy neutrality.

The Russian invasion of neighboring Ukraine and the humanitarian tragedy it provoked over the past two weeks have raised a Western outcry of heartfelt support and spawned calls for a fundamental rethink of how the geopolitical map of Europe should be redrawn in the future.

To anchor that in the reality of 2022 is far more difficult than may appear at first sight. Nudging Ukraine, Europe’s second-biggest country, fully into the Western fold against the will of Moscow poses massive problems.

And European Union leaders will confront them together head on during a two-day summit at Versailles just outside Paris starting Thursday—forced into the assessment

by Ukrainian President Volodymyr Zelenskyy when he amazingly signed an official request to become an EU

member last week.

“The European Union is going to be much stronger with us. So that’s for sure,” Zelenskyy said in an emotional live transmission to the European Parliament on Tuesday.

Piling on the pressure, he said, “So do prove that you are with us. Do prove that you will not let us go. Do prove that you indeed are Europeans.”

Compounding the EU’s problem, Moldova and Georgia, two smaller nations who also fear the expansive reach of Russia, followed tack within days and also asked for membership.

The violence of the Russian invasion also spooked historically neutral countries like Sweden and Finland, which now see a surge in support for joining Nato and in Helsinki’s case unshackling itself from a Russian influence so heavy that it became a political moniker—“Finlandization.”

Many nations fear an enlargement of the bloc and a reshaping of traditional spheres of influence would put the continent on the brink of a full-fledged war. And there is no better example than Ukraine’s aspirations to join the 27-nation EU that could tilt the balance of blocs in Europe.

Within days, conventional knowledge of who belongs where on the geopolitical map of the continent has been badly shaken.

Despite the thrill of opportunity, progress could be slow.

Many nations fear an enlargement of the bloc and a reshaping of traditional spheres of influence would put the continent on the brink of a fullfledged war. And there is no better example than Ukraine’s aspirations to join the 27-nation EU that could tilt the balance of blocs in Europe.

“There is no doubt that these brave people who defend our values with their lives belong in the European family,” said European Commission President Ursula von der

Leyen, choosing her words carefully and avoiding an outright promise of membership.

Even if support for Ukraine is overwhelming among the EU member states, granting membership is anything but automatic. The leaders of eight eastern member states officially said Ukraine “deserves receiving an immediate EU accession perspective.”

But others range from cautious to skeptical, with Dutch Prime Minister Mark Rutte saying that “every country in Europe is free to ask for it,” and immediately listed the immense bureaucratic hurdles ahead.

“It is extremely sensitive. The member states are not all on the same page,” a high-level EU official said on condition of anonymity because he wasn’t authorized to speak publicly about political discussions happening behind the scenes.

There could quickly be political fallout in Versailles.

“The discussion about Ukraine’s accession to the EU could also easily become overheated, providing euroskeptics with a perfect opportunity See “Ukraine” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Thursday, March 10, 2022 A11

Violence against women and children Economists’ advice: Work, save, and be thrifty to offset the effects of Ukraine War Dennis Gorecho

Legal bytes

By Rick Olivares

‘W

ork, save, be thrifty, and be smart about your expenses.”

It doesn’t sound like much but it will definitely count for a lot in terms of practicality and doability in the light of soaring prices of basic commodities due to the Russian invasion of neighboring Ukraine. That is according to Fritz Ocampo, senior vice president and chief investment officer of BDO Trust and Investments Group, and Emilio Neri Jr., senior economist of BPI. Due to the geopolitical conflict, the price of Dubai Crude surged 30 percent to $98 per barrel, Indonesian Coal 69.5 percent to $94.50 per metric ton, and aluminum 24.5 percent to $3,490 per metric ton year-to-date in March 2022.

In the Philippines, the price of diesel rose 18.33 percent to P60 per liter while LPG increased 39.60 percent to P961.95 per 11 kilograms.

“How does the conflict affect us?” asked Ocampo. “Even if we don’t buy our oil from Russia, all indicators of oil in the world have gone up. The cost of transportation has also gone up.

Our power sources are driven by oil and coal. In the coming months, higher oil and coal prices would be passed on to the consumers through the automatic price adjustment system.

“The next administration may need to pass it on to the consumer.

If the Ukraine-Russia crisis persists, consumers could see higher gasoline, diesel, LPG, and energy prices. Since our power plants are fueled by oil and coal, there could be an adjustment in energy cost.”

“Even if our coal supply is guaranteed from Indonesia, they would still sell to us at today’s global price and not at last year’s price. It is just a matter of when the new supply will arrive with the new price.”

“The country has just started to open up from the devastating effects of the Covid-19 pandemic with many businesses still closed and people still unemployed and this war happened,” noted Neri.

Neri also bared the scenario that is being played out today: “Both the

Ukraine . . .

continued from A10

to spread fear among voters,” said Pawel Zerka of the European Council on Foreign Relations think tank.

Several nations indicate it isn’t good to give Ukraine immediate hope with any rash decision taken in the heat of battle. Calls for a fast-track move to grant membership clash with institutional and political objections and some common sense.

In the past, membership applications have taken years, sometimes decades. Turkey applied to join in 1987 and is nowhere close to membership. Four others are candidate countries now, but the EU has shown an extreme reluctance to expand further eastward. To allow Ukraine to leapfrog over the others would stir passions in the Western Balkans where several are awaiting a nod.

For the European Commission to just assess whether a nation could be a candidate to start membership talks with often takes a year to 18 months.

And to be admitted, potential newcomers would also need to absorb all EU regulations, from rule of law principles to trade and fertilizer stan-

When asked what our country can do in this time of rising prices, both of them recommended that the government could suspend collections of the value-added tax, while consumers should manage their use of gas and electricity to minimize the impact on their monthly budget.

US and major Middle East economies like Saudi Arabia have the capacity to produce more oil but may not be able to increase the capacity immediately.

In the US, President Joe Biden has sent mixed signals to producers asking them to cut production before the conflict in Europe in order to protect the environment. However, he took it back when the war erupted. As for Saudi Arabia and other Middle Eastern producers, their membership in Opec keeps them from producing more as they need permission from Russia and other members of the cartel before they can increase output. Limiting production also helps boost prices, allowing them to generate more profits as a group.”

When asked what our country can do in this time of rising prices, both of them recommended that the government could suspend collections of the value-added tax, while consumers should manage their use of gas and electricity to minimize the impact on their monthly budget.

“With the economy opening up, people should actively seek work and maximize their earnings while saving,” said Neri. dards—about 80,000 pages of rules.

Over the past years, the EU has often pointed out that Ukraine’s anti-corruption measures still lacked teeth.

And to top it off, any candidate needs the unanimous approval of current members, often allowing one nation to decide on the fate of the whole process.

In comparison, a move toward Nato membership, especially for nations like Sweden and Finland, would be easier, since the two already have very close cooperation with the military alliance.

A formal step though would surely raise the wrath of Moscow and be seen as a geopolitical power play.

“It’s obvious that if Finland and Sweden join Nato, which is first of all a military organization, it will entail serious military-political consequences, which would require retaliatory steps by the Russian Federation,” Russian Foreign Ministry spokeswoman Maria Zakharova said.

But, somehow, that Nordic neutrality might already be slipping.

“Sweden and Finland have effectively ended their neutrality by sending military aid to Ukraine (lethal aid in the case of Sweden),” said Ed Arnold of Royal United Services Institute.

V

iolence and other forms of abuse at home are most commonly understood as a pattern of behavior intended to establish and maintain control over family, household members, or intimate partners.

Physical violence is only the most visible form of abuse. Psychological abuse, particularly forced social and economic isolation of women, is also common.

In a biblical tone, the Supreme Court noted in the case of Garcia v. Drilon (GR 179267 June 25, 2013) that the Philippines “is hailed as the bastion of Christianity in Asia, as it boasts of 93 percent of its total population adhering to the teachings of Jesus Christ. Yet, the admonition for husbands to love their wives as their own bodies just as Christ loved the church and gave Himself up for her failed to prevent, or even to curb, the pervasiveness of violence against Filipino women.”

The court said that many victims of domestic violence remain with their abusers, perhaps because they perceive no superior alternative. Many abused women who find temporary refuge in shelters return to their husbands, in large part because they have no other source of

income. Returning to one’s abuser can be dangerous.

Justice Renato Puno stressed in Estrada v. Sandiganbayan ( 421 Phil 290) that “the history of the women’s movement against domestic violence shows that one of its most difficult struggles was the fight against the violence of law itself. If we keep that in mind, law will not again be a hindrance to the struggle of women for equality but will be its fulfillment.”

Justice Puno pointed out in a forum that “the paradigm shift changing the character of domestic violence from a private affair to a public offense will require the development of a distinct mindset on the part of the police, the prosecution and the judges.”

Republic Act (RA) 9262, or “An Act Defining Violence Against Women and Their Children” (VAWC) was enacted on March 8, 2004 and took effect on March 27, 2004.

RA 9262 defines and criminalizes VAWC acts perpetrated by women’s

intimate partners, i.e, husband; former husband; or any person who has or had a sexual or dating relationship, or with whom the woman has a common child.

The law penalizes these acts that result in or is likely to result in physical, sexual, psychological harm or suffering, or economic abuse including threats of such acts, battery, assault, coercion, harassment or arbitrary deprivation of liberty.

The law provides for protection orders from the barangay and the courts to prevent the commission of further acts of VAWC; and outlines the duties and responsibilities of barangay officials, law enforcers, prosecutors and court personnel, social workers, health-care providers, and other local government officials in responding to complaints of VAWC or requests for assistance.

RA 9262 applies equally to all women and children who suffer violence and abuse.

It empowers any person having public knowledge of the circumstances involving the commission of an abusive act to file a criminal complaint.

In People v. Genosa (GR 135981, January 15, 2004), the Court acknowledged the deep psychological impact abusive relationships have on women when it considered the Battered Wife Syndrome as an extenuating and real circumstance.

As a victim of BWS, her husband’s cumulative provocation had broken down her self-control and made the

I

ndonesia, the world’s biggest exporter of edible oils, will tighten its control over shipments in a sign of growing protectionism around the world as countries grapple with soaring food prices.

Palm oil exporters will have to allocate 30 percent of their ship-

ment volume for the local market, an increase from 20 percent, according to Trade Minister Muhammad Lutfi. The government will take firm action on hoarders, he said Wednesday.

Governments are taking steps to safeguard domestic food supplies after Russia’s invasion of Ukraine roiled trade and sent prices of key staples skyrocket-

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

South Koreans vote for president in tight, bitter election

By Hyung-Jin Kim & Kim Tong-Hyung The Associated Press

S

EOUL, South Korea—South Koreans were voting for a new president Wednesday, with an outspoken liberal ruling party candidate and a conservative former prosecutor considered the favorites in a tight race that has aggravated domestic divisions.

Pre-election surveys showed liberal Lee Jae-myung, a former governor of South Korea’s most populous Gyeonggi province, and his main conservative challenger, ex-prosecutor general Yoon Suk Yeol, with neck-and-neck support, way ahead of 10 other contenders. The winner will take office in May and serve a single five-year term as leader of the world’s 10th-largest economy.

Lee and Yoon conducted one of the most bitter political campaigns in recent memory. Both recently agreed that if they won they would not conduct politically motivated investigations against the other, but many believe the losing candidate could still face criminal probes over some of the scandals they’re been implicated in.

Critics say neither candidate has presented a clear strategy on how they would ease the threat from North Korea and its nuclear weapons. They also say voters are skeptical about how both would handle international relations amid the USChina rivalry and how they would address widening economic inequality and runaway housing prices.

“Despite the significance of this year’s election, the race has centered too much on negative campaigning,” said Jang Seung-Jin, a professor at Seoul’s Kookmin University, adding that neither leading candidate laid out a convincing blueprint on how they would lead South Korea.

The election comes as South Korea has been grappling with an Omicron-

driven Covid-19 surge. On Wednesday, South Korea’s health authorities reported 342,446 new virus cases, another record high.

After the voting began at 6 a.m., masks-wearing voters waited in long lines at some polling stations before putting on vinyl gloves or using hand sanitizers to cast ballots. People infected with the coronavirus were to vote after regular voting ends Wednesday evening.

About 44 million South Koreans aged 18 or order are eligible to vote, out of the country’s 52 million people.

About 16 million cast ballots during early voting last week. Turnout was more than 60 percent seven hours into voting Wednesday, when including early voting ballots, the National Election Commission said.

Election officials said vote counting may take longer than usual because of the extended voting time for Covid-19 patients and that the winner may not be clear until early Thursday.

Ahead of the vote, Jeong Eunyeong, a 48-year-old Seoul resident, said she was agonizing over which candidate is “the lesser of two evils.”

“Nobody around me seems happy about voting” for either Lee or Yoon, she said. “We need a leader who would be really devoted to improving the lives of working-class citizens.”

While both Lee and Yoon share some similar economic and welfare policies, they’ve clashed over North Korea and other foreign policy issues.

Lee, who has often expressed nationalistic views, calls for ex-

emptions to UN sanctions so that dormant inter-Korean economic projects can be revived, and hopes to mediate between Pyongyang and Washington over the North Korean nuclear crisis. Yoon, for his part, says he would sternly deal with North Korean provocations and seek to boost trilateral security cooperation with Washington and Tokyo.

On confrontation between Washington, Seoul’s top military ally, and Beijing, its biggest trading partner, Lee says picking a side would pose a greater security threat to South Korea. Yoon wants to place a priority on an enhanced alliance with the United States.

After North Korea’s latest reported ballistic missile launch Saturday, Yoon accused North Korean leader Kim Jong Un of trying to influence the results of the South Korean election in favor of Lee. “I would (teach) him some manners and make him come to his senses completely,” Yoon told a rally near Seoul.

Lee wrote on Facebook that he would push for a diplomatic solution to North Korean nuclear tensions but won’t tolerate any act that would raise animosity.

South Korea’s constitution limits a president to a single five-year term, so Lee’s party colleague, President Moon Jae-in, cannot seek a reelection. Moon came to power in 2017 after conservative President Park Geun-hye was impeached and ousted from office over a huge corruption scandal.

With conservatives initially in shambles after Park’s fall, Moon’s approval rating at one point hit 83 percent as he pushed hard to achieve reconciliation with North Korea and delve into alleged corruption by past conservative leaders. He eventually faced strong backlash as talks on

Indonesia curbs palm oil exports as food protectionism grows

By Eko Listiyorini Bloomberg Opinion

murder an act of passion.

In Go-Tan v. Spouses Tan (GR 168852, September 30, 2008), parents-in-laws may likewise be held liable for violation of RA 9262 under the principle of conspiracy.

In Reyes v. People (GR 232678, July 3, 2019), the denial of financial support is designed to subjugate the wife’s will and control her conduct, either to pressure her to withdraw said criminal case for bigamy or dissuade her from pursuing it, or at least, to discourage her from filing additional cases against him.

In AAA, v. BBB, (GR 212448 January 11, 2018), even if the alleged extramarital affair causing the offended wife mental and emotional anguish is committed abroad, the same does not place a prosecution absolutely beyond the reach of Philippine courts. The acts may manifest as transitory or continuing crimes wherein any of the crime’s essential and material acts have been committed maintains jurisdiction to try the case.

In the case of XXX v. People (GR 241390 January 13, 2021), the husband inflicted psychological violence upon his wife when he evicted her and their children from their conjugal home and when he maintained an extramarital affair with a woman in their conjugal home where they lived as a couple.

ing. Protectionist measures, which have already picked up in recent years as the Covid-19 pandemic spurred concerns about shortages, could spell more bad news for global food trade and add pressure to food inflation.

The move by Indonesia comes as vegetable oil prices have surged over the past year due to a supply crunch, with palm, soybean oil and

canola repeatedly hitting new highs.

Russia’s invasion of Ukraine dealt a fresh blow as the conflict locked out exports from the two nations that ship about 80 percent of sunflower oil cargoes and more than a quarter of global wheat supplies.

Indonesia’s policy is aimed at ensuring affordable cooking oil for domestic consumers and will remain in place until supply re-

turns to normal, according to Lutfi. There’s a possibility the allocation will be raised further if the situation doesn’t improve, he said. The latest rule will take effect Thursday.

Palm oil prices jumped, with futures in Kuala Lumpur rising about 10 percent toward a record while the Chinese contract in Dalian climbed by the daily limit. Rival soybean oil

North Korea’s nuclear program faltered and his anti-corruption drive raised questions of fairness.

Yoon had been Moon’s prosecutor general but resigned and joined the opposition last year following infighting over probes of Moon’s allies. Yoon said those investigations were objective and principled, but Moon’s supporters said he was trying to thwart Moon’s prosecution reforms and elevate his own political standing.

Yoon’s critics have also attacked him over a lack of experience in party politics, foreign policy and other key state affairs. Yoon has responded he would let experienced officials handle state affairs that require expertise.

Lee, a former human-rights lawyer who entered local politics in 2005, has established an image as a toughspeaking, anti-elitist who can get things done and fix establishment politics. But his opponents call him a dangerous populist relying on divisions and demonizing opponents.

Yoon has launched a political offensive on Lee over allegations that Lee is a key figure in a corrupt land development project launched in the city of Seongnam when he was mayor there. Lee has tried to link Yoon to that scandal. Both of their wives have offered public apologies over separate scandals.

Whoever wins will likely struggle to bridge conservative-liberal divisions, some experts say.

“Both candidates have failed to create their own, distinctive images because they became absorbed in party allegiances amid partisan animosity, so the race was defined by negative campaigning,” said Shin Yul, a politics professor at Seoul’s Myongji University. “Whoever wins will be tasked with an important but difficult task of healing the divisions.”

advanced to a fresh all-time high in Chicago.

Other countries taking to food protectionism include Hungary, which is banning grain exports, while Argentina and Turkey also made recent moves to boost their control over local products. Moldova, albeit a small shipper, has temporarily halted exports of wheat, corn and sugar.

A12 Thursday, March 10, 2022

COMELEC TO PROCEED WITH ‘OPLAN BAKLAS’

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MID the temporary restraining order (TRO) issued by the Supreme Court on the Oplan Baklas of the Commission on Elections, the poll body said it will continue removing illegally placed and oversized printed campaign materials in public places.

In a press conference, Comelec spokesperson James Jimenez stressed that the TRO issued by the High Court only covers private areas.

“We will continue with our Baklas Operations in public spaces as it is required by law. However, as far as baklas (dismantling) operations in private places, that is held in abeyance in deference to the Court,” Jimenez said.

Last Tuesday, SC released the TRO temporarily banning Comelec from further dismantling, removing, destroying, defacing and confiscating election materials in “privately-owned and privately-funded” installed within private property.

This was in response to the petition of St. Anthony College of Roxas City, volunteer groups Isabela for Leni and Zambo-

angueños for Leni, which questioned the legality of Comelec Resolution No. 10730 regarding the criteria for allowable election materials.

The TRO will remain in effect until further notice from the SC. The High Court gave Comelec 10 days to comment on the matter.

Jimenez said Comelec is still determining if it will be represented by the Office of the Solicitor General (OSG), which usually represents the government before the courts, for the said case.

“We are still looking to see who is going to draft the comment. Normally that would be the OSG. But we still have to wait and see. As you know the OSG has on occasion taken a contrary position to us, so we are going to have to wait and see what their position on this matter will be,” Jimenez said.

To note, the OSG recently filed a case against Comelec before the SC over the poll body’s Memorandum of Agreement (MOA) with online news firm Rappler for fact-checking and voter education during the 2022 polls. Samuel P. Medenilla

Young lives, futures lost: Popcom flags teen pregnancies

By Cai U. Ordinario @caiordinario

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T least three girls out of 2,000 every year die before their 15th birthday because of complications linked to teen pregnancy, according to the Commission on Population and Development (Popcom).

Based on 2019 data, a total of 117 teenagers die before they reach the age of 20 because of pregnancyrelated complications.

Apart from the three girls aged 10 to 14 years old included in the total, there are also 44 adolescents aged 15 to 17 years old, and 70 teenagers aged 18 to 19 years old, who die of pregnancy complications.

“These are the ones on record.

Maybe there are more that are not reported. And overall, teen pregnancies (or those) below 20 make up around 10 percent of maternal mortality in this country every year,” Undersecretary for Population and Development Juan Antonio A. Perez III said in a briefing on Wednesday.

The lives of these adolescents compound the other social costs of teen pregnancy in the Philippines, Perez said, adding that the potential income of these young mothers are forever reduced due to early childbearing.

According to Perez the discounted lifetime wage earnings foregone —as a result of early childbearing —by a cohort of teenage women 18-19 years is estimated to average P33 billion.

With foregone earnings, teenage parents, especially those from poor families, could pass on their poverty to their children.

The impact could be significant since, Perez said, around 160,000 young mothers or 320,000 young mothers and their children will be affected by this.

“Local governments (must) instigate social protection programs for young mothers and children,” Perez said. “(We need) to intensify community participation through comprehensive sexuality education beyond the school by engaging

Palace clears e-sabong ops as probe of missing goes on

By Samuel P. Medenilla @sam_medenilla & Joel R. San Juan @jrsanjuan1573

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ALACAÑANG has allowed “e-sabong” (online cockfighting) operations to continue despite the ongoing investigation by authorities on the reported gambling-related crimes linked to the enterprise, including the apparent abduction of 34 people.

It made the decision in response to the Senate’s appeal for the Philippine Amusement and Gaming Corporation (PAGCOR) to defer the “e-sabong” activities pending the resolution of the ongoing Senate inquiry on the cases of over 30 missing cockfighting workers and enthusiasts.

“Unless directed, the operations of e-sabong licenses shall remain unaffected pending the result of the above investigations,” Executive Secretary Salvador C. Medialdea said in a memorandum issued on

Tuesday, but only released to the media the following day.

Pagcor earlier told the Senate it nets on average nearly P700 million monthly from seven licensed e-sabong outfits. The biggest of them, Charlie “Atong” Ang’s Lucky 8 Star Quest, grosses some P3 billion.

The Palace go-ahead for e-sabong to continue came as Justice Secretary Menardo Guevarra disclosed that the National Bureau of Investigation (NBI) has found a lead in its investigation on the 34 missing people.

Guevarra, however, said the NBI did not provide further information on its ongoing probe.

At the second Senate hearing on March 4, police probers told the Public Order and Dangerous Drugs panel led by Sen. Ronald “Bato” dela Rosa that authorities have in custody a witness who saw 14 men, including six security personnel at Manila Arena, seize the first batch of the missing persons.

“Yesterday I was informed by the NBI that they had found a lead, but no further information was given,” Guevarra said.

“I am confident that the NBI and the PNP (Philippine National Police) will soon come up with positive results. It is improbable that 34 persons in strikingly similar situations would disappear without a trace,” he added.

Even before the OP gave the orders for the NBI and the PNP to conduct a joint investigation on the 34 missing cockfighting enthusiasts, Guevarra had already issued an order last February 17 directing the NBI, through its Officer-inCharge Eric Distor, to conduct its investigation.

The NBI was specifically ordered to probe the “reported abduction and disappearance of sabungeros (cockfighting aficionados) in various places during the past few

weeks and, if evidence warrants, to file the appropriate charges against all persons involved and found responsible for any unlawful act in connection therewith,” Guevarra had said.

In the one-page issuance, Medialdea ordered the Philippine National Police and the National Bureau of Investigation to look into the cases of the missing “sabungeros.”

Both investigating agencies were directed to submit the result of their probe to the DOJ within 30 days from the issuance of the memorandum.

Medialdea also told Pagcor to check the compliance by “e-sabong” licensees to the Regulatory Framework for E-Sabong Off Cockpit Betting Station, which includes the installation of close circuit television (CCTV) systems in e-sabong gaming sites.

Senator Dela Rosa earlier said in a television interview that President Duterte supports senators’ appeal to suspend the e-sabong operations.

Pagcor, however, denied this at the second Senate hearing, adding it has yet received any word from Malacañang for the suspension of “e-sabong” operations.

It noted the suspension will have legal implications and cause “serious” revenue loss for the government.

other stakeholders.”

The Challenge Initiative (TCI) PHL

PART of the efforts to address teen pregnancies is TCI Philippines. It is co-managed and co-funded by the Zuellig Family Foundation (ZFF) and the Bill and Melinda Gates Institute for Population and Reproductive Health, and co-implemented with Popcom and the Department of Health (DOH).

TCI Philippines aims to speed up reduction of teenage pregnancies by establishing adolescent-friendly health facilities that promote positive health-seeking behavior and improve access to family planning.

Together with Popcom, TCI Philippines conducted advocacy meetings with 90 cities including the 10 new additions. City Leadership Teams for AYSRH from Cagayan de Oro, Dipolog City, and Puerto Princesa completed the Training of Trainers course on Leadership for Adolescent and Youth-Friendly Cities (LAYFC) for Barangay Leaders.

Dipolog City increased its budget allocation for family planning and AYSRH activities on top of its Covid-19 response while Puerto Princesa set up Adolescent and Youth Friendly Health Facility and Services.

Cagayan de Oro boosted its Information service delivery network (ISDN) and cascaded its AYSRH plan across different departments and offices in the local government and other partners.

The new partner cities also responded to the call to cut teenage pregnancies. Baguio City plans to build a P380-million youth convergence center to give premium to the youth as indispensable partners in its AYSRH interventions.

With workshops and training, TCI Philippines identified gaps in the cities’ implementation of its AYSRH programs. Data collection and management can ensure the success of the program because it allows city health officers to monitor the gaps and address them accordingly.

ACTING Comelec chairperson Socorro Inting hands over the helm of the poll body to former Lanao del Sur governor and National Commission on Muslim Affairs head Saidamen Pangarungan at turnover rites at the Comelec main building in Intramuros on Wednesday (March 9). Pangarungan’s appointment was announced along with those of former assistant Justice secretary and Bureau of Immigration deputy commissioner Aimee Torrefranca-Neri and election lawyer George Erwin Garcia as new Comelec commissioners. CONTRIBUTED PHOTO

Pangarungan: Comelec will be independent

By Samuel P. Medenilla @sam_medenilla

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EW Commission on Elections Chairman Saidamen Balt Pangarungan on Wednesday vowed to preserve the independence of the poll body during his term.

The former Lanao Del Sur governor and head of the National Commission on Muslim Affairs (NCMA) made the commitment during his speech at the welcome ceremony held for his assumption in office at the Comelec main office in Intramuros, Manila.

Also recognized in the ceremony were two new commissioners: former Bureau of Immigration deputy commissioner Aimee TorrefrancaNeri and veteran election lawyer George Erwin Garcia.

Pangarungan took his oath as Comelec chairman on March 8, 2022 before Supreme Court Chief Justice Alexander Gesmundo to “accentuate” his impartiality and independence.

“We will honor and protect the Constitution in every decision we pen, in every program and project we undertake, and even in every single vote we count. The sanctity

of the vote shall be our guiding principle,” Pangarungan said.

“We will not let the Filipino people down,” he added.

He made the assurance amid concerns raised by election watchdogs on the independence of Comelec now that all of its seven top officials were appointed by President Duterte, whose daughter, Davao Mayor Sara Duterte-Carpio, is running for vice president.

For her part, Neri said she will tap her 17 years in public service to ensure “honest, fair and free conduct” of the upcoming 2022 National and Local Elections.

“It is my personal oath to the Filipino people to repay the public by being truthful to the values and mandate of the Comelec,” Neri said.

Garcia was not present at the welcome ceremony, but he was able to attend the Comelec en banc meeting held before the turnover.

The Comelec en banc meeting on Wednesday was the first time all of the poll body’s seven members were completed since the retirement of Comelec Chairman Sheriff M. Abas and Comelec commissioners Antonio T. Kho Jr. and Rowena V. Guanzon last month.

Companies

Editor: Jennifer A. Ng

Thursday, March 10, 2022

B1

Toll roads, higher electricity sales boost MPIC income

C

By VG Cabuag

@villygc

onglomerate Metro Pacific Investments Corp. (MPIC) said its core income last year grew 20 percent to P12.3 billion from the previous year’s P10.2 billion, largely driven by the increase in traffic on its toll roads and higher volume of electricity sold by its power distributor.

Revenues, meanwhile, rose 11 percent to P405.5 billion from the previous year’s P365.7 billion. For the fourth quarter alone, its revenue growth was narrower at 8 percent to P11.4 billion from the previous P10.6 billion.

The company said Wednesday

that its core income for October to December reached P2.8 billion, a 14-percent increase from the previous P2.5 billion, partly as a result of the effect of the Corporate Recovery and Tax Incentives for Enterprises Act, which lowered corporate income tax rates to 25

percent from 30 percent.

Its power segment, mainly by Manila Electric Co., has been its largest contributor to earnings, reaching 65 percent of the total for the year, followed by the toll roads at 23 percent.

Maynilad Water Services Inc., the West zone concessionaire, remained profitable despite the reduction in billed volumes.

June Cheryl A. Cabal-Revilla, the company’s CFO, said MPIC as a group will spend some P136 billion in capital expenditures (capex) this year, of which P57 billion will be allocated to the power group.

“MPTC [Metro Pacific Tollways Corp.] will have P32 billion including all of the existing projects that are in progress, Maynilad at about P12 billion to P14 billion and LRT-1 on a standalone basis about P6 billion,” she said.

This year’s capex is 52 percent higher than the previous year’s

P89 billion.

The capex of companies managed

by MPIC Chairman and President Manuel V. Pangilinan would reach P215 billion this year.

PLDT Inc. will spend about P75 billion this year; Philex Mining Corp., P1.5 billion; and PXP Energy Corp., P2 billion.

Pangilinan said rising oil prices would affect some of its businesses, such as the traffic in its tollways, and could dampen electricity demand.

Prices of gas and coal, which are used to generate electricity, are also on the rise, but the increase would just be passed on to consumers.

“If inflation would get impacted by the higher fuel and commodity prices and higher power rates, then it would impact economic growth, with higher interest rates. We should be on the lookout. I do hope that the economy would still grow, despite the impact of this cost-push inflation,” he said.

Meralco: Higher power bill in March due to generation charge

Power lines run beside a sign of the Manila Electric Co. (Meralco) branch in Manila in this Bloomberg file photo.

Food sales prop up SMFB income T S

an Miguel Food and Beverage Inc. (SMFB) on Wednesday said its income last year rose 40 percent to P31.4 billion, from the previous year’s P22.4 billion on higher beer and food sales.

Consolidated revenues grew 11 percent to P309.8 billion from the previous year’s P279.29 billion, on higher volumes, market share gains and better pricing across SMFB’s businesses, the company said.

Both its income and revenues were already near the 2019 levels. Its income was only down by 2 percent compared with the P32.27 billion it earned in 2019 and sales were almost the same as the P310.78 billion for the period.

“We remain optimistic about our

ability to deliver growth moving forward. While we expect to contend with the increase in certain raw material costs due to macro events, we are confident that the strategic pivots we’ve made in the last couple of years will keep us on solid footing,” SMFB President and CEO Ramon S. Ang said.

“We are fortunate that our financial strength enables us to continue pursuing expansion projects that will enable us to further capitalize on the country’s continued recovery.”

The company’s food business posted record consolidated revenues of P151 billion, a 12-percent increase from the previous year’s P135.17 billion and 8 percent better than the P139.45 billion in 2019, with each

segment delivering strong results and increased earnings.

The protein segment posted double-digit growth driving the food business’ revenues, and bolstered by better pricing of its poultry products and efficient inventory management, the company said.

The prepared and packaged food segment also posted continued growth, complemented by growing sales from new products, including its meat-free line, while its animal nutrition and health and flour segments also continued its strong momentum. It said the company repopulated its hog farms, which are already free of African swine fever.

Consolidated operating income more than doubled to P11.5 bil-

lion from the previous year’s P5.18 billion.

The beer business reported revenues of P116.3 billion, 8 percent higher than the prior year’s P107.92 billion but still lower than prepandemic levels at P142.27 billion in 2019.

It had a 10-percent increase in operating income to P26.9 billion from the previous year’s P24.67 billion.

The company’s spirits business under Ginebra San Miguel Inc. registered another record year as revenues soared 17 percent to P42.5 billion from the previous P36.2 billion.

Income from operations rose 39 percent to P5.3 billion from the previous year’s P3.8 billion, the company said. VG Cabuag

ATN Solar Converge upgraded in FTSE GEIS plans to go public C

By Lorenz S. Marasigan @lorenzmarasigan

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TN Philippines Solar Energ y Group, Inc. (ATN Solar), the energy arm of publicly listed ATN Holdings, Inc., has sought board approval for the conduct of an initial public offering (IPO).

“The Executive Committee has recommended the IPO against LBWI [Listing By-Way of Introduction] in listing ATN Solar shares in the Philippine Stock Exchange,” the publicly-listed real estate developer told the exchange on Wednesday.

It said that IPO would be viable given the supplemental listing rules granted to renewable energy firms with the exemption of the threeyear positive financial performance.

Moreover, the IPO route would have a shorter timeline needed to fund its planned 100megawatt (MW) solar power projects compared to LBWI, which requires a two-step process— LBWI and follow-on offering.

“The Corporation approves ATN Solar’s plan for IPO application in the Philippine Stock Exchange, associated cost of the application based on the above-mentioned budget, and appointment of an investment banking group and underwriter for the above purpose, subject to compliance to all rules and regulations of the relevant regulatory agencies,” it said. Lenie Lectura

onverge ICT Solutions Inc. has been promoted to the mid cap board in the FTSE Global Equity Index Series (GEIS), a development that its leaders view as a testament to the continued strong performance of the company over the last few years.

The promotion from small cap index to mid cap came after Converge met the higher market capitalization thresholds and investability weights by the FTSE for Asia Pacific.

“This upgrade in the FTSE GEIS reflects the strong growth performance of the company as we continue our aggressive expansion to deepen our presence in areas where we already have presence and extend our services to still unserved markets,” said Converge CEO and Co-Founder Dennis Anthony Uy. The promotion will be effective on March 21.

“We would like to thank our investors for their trust and for propelling our stock performance as we continue to grow,” added Converge President and Co-Founder Maria Grace Y. Uy. Aside from the GEIS, Converge is also part of other FTSE Index Series such as the Renaissance IPO Index, the Asean All-Share Index, and the Asean Stars Index.

FTSE GEIS indexes include over 16,000 large, mid, small, and micro cap securities across 49 developed and emerging markets glob-

Converge’s first “Fiber Fast” business center in Greenhills. Photo from www.convergeict.com

ally. The indices are to be used as benchmarks for investment funds, exchange traded funds, and other financial products. The indices, therefore, stand as proxy for the market they represent and the securities therein are considered as stable indicators for their respective industries.

“We are pleased to have kept our strong market standing and increased our market stability, as we bring world-class internet connectivity to more and more Filipinos.

As we enter another year of expan-

sion this 2022, we are confident of continued robust financial performance,” said Uy. Converge is set to release its 2021 financial results Thursday next week.

As of end-September, Converge’s terrestrial backbone has reached 90,000 kilometers, not including its extensive last-mile network, serving 440 cities and municipalities nationwide.

It plans to cover at least 55 percent of Philippine households with fiber Internet by 2023.

he Manila Electr ic Co. (Meralco) warned of increasing power rates for March but this month’s electricity bill does not yet reflect the incessant rise in oil prices.

“Initial indications show that after two consecutive months of reductions, there could be an upward adjustment in the March bills due to higher generation charge,” said Meralco utilty economics head Lawrence Fernandez.

Generation charge makes up the bulk of billing charges.

Meralco will announce Thursday the final power rates for March.

Fernandez said Wholesale Electricity Spot Market (WESM) prices remained elevated in the February supply month, and despite the absence of Yellow Alert, the secondary price cap was implemented 5.63 percent of the time.

Also expected to contribute to the generation charge is the higher share of supply from WESM as a result of the scheduled maintenance and Quezon Power and San Lorenzo power plants. Fernandez said these maintenance shutdowns were performed in February to ensure the availability of their supply during the dry months and the election period.

Moreover, the continuing depreciation of peso is also seen to magnify the effect of high fuel prices in the world market.

Fernandez stressed that these are pass-through charges and as far as Meralco’s own cost is concerned, the distribution charge has not moved since its reduction in July 2015.

This month’s power rates do not yet reflect rising oil prices. Fernandez explained that movements in world crude oil prices affect Meralco’s generation costs indirectly, mainly through the Malampaya gas prices. This, he added, will be updated in April, which will then be reflected in the May bills of customers.

“The current Malampaya price is based on world crude oil prices from July to December 2021, so that the price does not yet reflect the recent surge in oil prices. These will be priced into Malampaya beginning the second quarter, to be reflected beginning the May 2022 generation charge,” he said.

This will affect the power supply agreements with Sta. Rita, San Lorenzo, and San Gabriel, which account for around one-third of Meralco’s supply requirements for the captive market. Lenie Lectura

B2

Companies BusinessMirror

Thursday, March 10, 2022

Megaworld income surges on appetite for property

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By VG Cabuag

@villygc

egaworld Corp., the property development arm of businessman Andrew Tan, said its attributable net income grew 36 percent last year to P13.43 billion from the previous year’s P9.88 billion.

Consolidated revenues increased 17 percent to P50.75 billion from the previous year’s P43.54 billion.

For the fourth quarter alone, its revenues rose 37 percent to P13.9 billion from P10.1 billion in the previous year as all core businesses registered double-digit growth.

Compared with pre-pandemic figures, however, both the company’s revenues and income were still down.

Its revenues were still 27 percent be-

low P67.37 billion it had two years ago and its income was down 25 percent from P17.93 billion in 2019.

“There has been a huge demand for titled lots, from both our residential and commercial offerings last year. We can see this trend to continue even this year,” Kevin Andrew L. Tan, the company’s executive vice president, said.

Real estate sales grew 25 percent to P31.12 billion in 2021 from the pre-

vious P24.85 billion as construction activities picked up during the year.

Reservation sales, meanwhile, reached P80 billion, up 17 percent from P68.1 billion recorded in 2020.

During the year, the company launched 11 new residential and commercial lot projects with a total sales value of P28 billion, more than triple from the previous year’s launches.

These projects are in various townships, particularly in Maple Grove and Arden Botanical Estate in Cavite, Northwin Global City in Bulacan, Paragua Coastown in Palawan, Eastland Heights in Rizal, McKinley West in Taguig City, and Alabang West in Las Piñas City.

Megaworld Premier Offices hit a record high in rental income at P11.1 billion as it closed around 236,000 square meters of new and renewal transactions. Office occupancy rate during the year stood at 90 percent, higher than the industry average of around 81 to 84 percent.

Megaworld’s shopping malls posted P2.3 billion in rental income last year, still 10 percent lower than the previous year as the country implemented several lockdowns due to the surge in Covid-19 infections. However, during the last quarter of the year when the government shifted to lower alert levels especially in the National Capital Region, rental income soared by half to P753 million as the company continued to provide assistance to its retail partners though rental concessions.

Meanwhile, Megaworld Hotels and Resorts posted a strong recovery, with hotel revenues increasing by 30 percent to P1.9-billion year-on-year from the previous year’s P1.5 billion.

This was due to the consistent performance of the company’s in-city hotels and the opening of Kingsford Hotel in the company’s Westside City township within the Entertainment City during the second quarter of the year.

IOM, Airbnb to support those fleeing Ukraine

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he International Organization for Migration (IOM) and Airbnb.org have announced their partnership to connect people fleeing from Ukraine to free, short-term housing in Poland, Moldova, Romania, Hungary and Slovakia.

Over 2 million people have fled to neighboring countries by the ongoing conflict in Ukraine.

Last week, Airbnb.org committed to offer free, temporary housing for up to 100,000 refugees fleeing Ukraine, and to date, more than 15,000 hosts have signed up through Airbnb.org to offer their homes for free or at a discount around the world.

“Airbnb.org is proud to be working alongside IOM once again, this time to support those fleeing Ukraine, and to assist in what has become one of the largest humanitarian crises of our lifetime,” said Joe Gebbia, Airbnb co-founder and chairman of Airbnb.org. “We are grateful for the continued generosity of the Airbnb community, who have opened their homes to refugees or have donated to Airbnb.org’s efforts. If you have space to host, please consider helping Airbnb. org and IOM in offering temporary housing to those in need fleeing Ukraine.”

IOM provides vital support to migrants across the world, responding to emergency events and providing advice on migration policy and practice. Through this partnership with Airbnb. org, IOM will help provide temporary housing over the coming weeks and months for all those fleeing the conflict in Ukraine.

These stays are free and are funded by Airbnb, Inc., donors to the Airbnb.org Refugee Fund, and the generosity of Hosts through Airbnb.org. All Airbnb

fees are waived for Airbnb.org refugee stays.

“The provision of safe, private and accessible accommodation is of critical importance,” said Deputy Director General Amy Pope. “IOM is proud to partner with Airbnb.org and help in providing a safe and warm place to stay. The winter is still quite severe in many places and providing warmth and security

has an impact not only just the physical wellbeing of all those fleeing Ukraine, but also their emotional and mental state.

Many will need a safe space to process the events of the last few days and to rest their weary hearts. We are grateful to all the hosts through Airbnb and Airbnb.org that have opened their home and their hearts during this time.”

mutual funds

March 9, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

223.59

3.69%

-5.25%

-2.5%

-4.08%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4908

18.03%

-2.28%

1.31%

-10.42%

5%

-9.03%

-5.16%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0997

-4.27%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7445 -1.35%

-7.35% n.a.

-1.59%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6912 2.28%

-7.06% n.a.

-10.34%

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

5.0309

First Metro Save and Learn Philippine Index Fund, Inc. -a MBG Equity Investment Fund, Inc. -a

7.39%

-2.9%

-0.37%

-2.93%

0.747

8.91%

-5.05%

-3.95%

91.49

-8.84%

-9.99% n.a.

-3.11%

PAMI Equity Index Fund, Inc. -a

45.687

2.99%

-4.09%

-1.15%

-5.07% -4.12%

Philam Strategic Growth Fund, Inc. -a

480.05

3.48%

-4.01%

-1.42%

Philequity Dividend Yield Fund, Inc. -a

1.3509

21.48%

1.08%

1.96%

-0.4%

Philequity Fund, Inc. -a

35.2956

6.77%

-2.91%

0.16%

-3.55%

0.9101

5.8%

-3.98% n.a.

-3.32%

Philequity PSE Index Fund Inc. -a

4.7328

4.24%

-3.32%

-0.39%

-4.6%

Philippine Stock Index Fund Corp. -a

786.83

3.59%

-3.45%

-0.51%

-5.03%

Soldivo Strategic Growth Fund, Inc. -a

0.7168

4.95%

-7.61%

-3.42%

-4.76%

4.83%

-5.81%

-1.74%

-4.73%

Philequity MSCI Philippine Index Fund, Inc. -a

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5968 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.8964

3.18%

-3.76%

-0.75%

United Fund, Inc. -a

4.99%

-3.17%

0.52%

-3.05%

3.3325

-4.63%

-5.09%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1813

Philippine Stock Index Fund Corp. -a

963.41 n.a. n.a. n.a. n.a.

14.39% n.a. n.a.

1.6%

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

106.0947

4.07%

-3.18%

-0.02%

-4.83%

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

$0.9974

Sun Life Prosperity World Voyager Fund, Inc. -a $1.5943

-22.15%

-0.42%

1.97%

-11.46%

-3.62%

8.49%

7.9%

-13.65%

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

1.649

0.98%

-1.24%

-0.8%

ATRAM Philippine Balanced Fund, Inc. -a

2.2279

1.31%

-1.06%

-0.43%

-2.35%

4.12%

0.04%

1.13%

-2.06%

First Metro Save and Learn Balanced Fund Inc. -a 2.6356

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2079

-2.54%

9.31% n.a. n.a.

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

1.9643

1.91%

1%

1.38%

-2.6%

PAMI Horizon Fund, Inc. -a

3.6439

0.32%

0.06%

0.18%

-3.22%

Philam Fund, Inc. -a

16.3429

0.27%

-0.21%

0.14%

-2.98%

Solidaritas Fund, Inc. -a

2.0676

1.63%

-1.1%

0.05%

-2.54%

2.3%

-2.65%

-0.42%

-3.13%

8.23%

-1.65%

-0.03%

-3.22%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.533 Sun Life Prosperity Dynamic Fund, Inc. -a

0.9235

-0.53%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.955

-1.5%

-1.19% n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8973

0.46%

-3.1% n.a.

-3.52% -5%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8858

0.76%

-3.47% n.a.

-5.15%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03558

-6.54%

-0.11%

0.19%

$1.0099

-11.52%

0.89%

1.89%

-5.36%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2991 -3.65%

5.9%

5.78%

-10.47%

2.44%

2.5%

-7.7%

PAMI Asia Balanced Fund, Inc. -b

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1063 -4.47%

-6.22%

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

374.22

0.96%

2.65%

2.47%

ATRAM Corporate Bond Fund, Inc. -a

1.8869

-0.99%

0.38%

0.08%

-0.02% 0.12%

Cocolife Fixed Income Fund, Inc. -a

3.2433

0.8%

2.67%

3.7%

-0.02%

Ekklesia Mutual Fund Inc. -a

2.2268

1.26%

-1.1%

2.69%

1.8%

-0.27%

4.3317

-3.58%

3.17%

1.32%

-1.45% -0.52%

-1.13%

1.16%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4195 -0.45% Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a

1.3123

-0.64%

3.33%

2.71%

Philequity Peso Bond Fund, Inc. -a

3.9364

-0.74%

3.1%

2.54%

-0.74%

Soldivo Bond Fund, Inc. -a

1.0212

-0.06%

3.88%

2.02%

-0.68%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.164

-0.62%

3.62%

3.09%

-0.73%

Sun Life Prosperity GS Fund, Inc. -a

-1.49%

2.75%

2.37%

-0.99%

1.7135

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

$486.05

ALFM Euro Bond Fund, Inc. -a

Є216.36

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1314

0.94%

2.45%

2.24%

-1.31%

0.23%

0.59%

-1.66%

-4.74%

-0.68%

0.35%

-6.02%

0.13%

0.16%

-3.46%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0251 -1.95%

-0.72%

PAMI Global Bond Fund, Inc -b

$0.9679

-8.31%

-2.71%

-1.8%

-5.37%

Philam Dollar Bond Fund, Inc. -a

$2.3555

-3.5%

1.98%

1.52%

-5.99%

$0.0612372

-1.91%

2.05%

1.5%

-1.69%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.9577 -3.78%

0.3%

0.24%

-7.46%

Philequity Dollar Income Fund Inc. -a

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

1.24%

2.54%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0599

1.03%

1.83% n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3194

131.53

1.52%

2.43%

2.55%

2.52%

0.26% 0.21%

0.29%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0618

0.68%

1.33% n.a.

0.11%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.4467 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2645

10.51% n.a. n.a.

-8.56%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.8984

-8.33% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-7.38%

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

March 9, 2022

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG NTL REINSURANCE PHIL STOCK EXCH

447,429,839 333,155,378.50 1,653,790 2,771,770 330,272,981 5,556,156 102,460 204,315 87,761,906 7,281,040 2,138,100 233,230 2,500 99,120 571,072

-15,729,419 -66,961,882.50 -1,979,663 -50,280,555.50 -296,308 22,660 -772,442 1,877,451 -233,230 62,682

INDUSTRIAL AC ENERGY 7.79 7.81 7.62 7.9 7.61 7.79 14,555,400 113,360,287 ALSONS CONS 1.05 1.06 1.09 1.09 1.05 1.06 205,000 218,100 34.45 34.5 33.5 35.45 33.5 34.5 4,928,600 170,526,295 ABOITIZ POWER 0.49 0.495 0.5 0.51 0.49 0.49 10,500,000 5,217,850 BASIC ENERGY FIRST GEN 26.15 26.8 26.7 26.75 26.15 26.15 586,700 15,543,715 FIRST PHIL HLDG 70.05 70.25 70.15 70.25 70 70.25 15,550 1,088,583 372 375 361 377.6 360.8 372 684,190 254,710,270 MERALCO 19.26 19.3 18.98 19.4 18.6 19.3 1,059,100 20,097,540 MANILA WATER PETRON 3.83 3.84 3.99 3.99 3.83 3.83 10,020,000 38,855,490 PETROENERGY 4.96 5.13 5.15 5.23 4.9 4.96 444,500 2,297,722 10.42 10.68 10.68 10.68 10.68 10.68 7,000 74,760 PHX PETROLEUM SYNERGY GRID 12.02 12.1 12.14 12.32 12.02 12.02 4,456,900 54,074,836 PILIPINAS SHELL 19.62 19.64 20.1 20.2 19.6 19.62 596,800 11,825,400 SPC POWER 14.24 14.3 14.1 14.4 14.02 14.3 45,800 650,882 1.86 1.87 1.8 1.93 1.8 1.87 68,137,000 128,240,090 SOLAR PH 14.02 16 16 16 16 16 3,800 60,800 VIVANT AGRINURTURE 5.48 5.55 5.5 5.57 5.39 5.55 1,542,500 8,488,422 AXELUM 2.46 2.64 2.52 2.64 2.45 2.64 327,000 836,220 13.02 13.2 13.02 13.2 13.02 13.02 3,200 41,880 CNTRL AZUCARERA CENTURY FOOD 19.98 20 21.4 21.8 19.98 19.98 5,111,900 105,793,497 DEL MONTE 15.28 15.5 15.2 15.52 15.2 15.5 225,900 3,444,696 DNL INDUS 7.36 7.37 7.29 7.49 7.29 7.37 1,813,300 13,357,059 14.74 14.8 15.8 16.2 14.64 14.8 3,629,900 54,724,612 EMPERADOR 64.05 64.5 65.75 65.75 64.05 64.05 90,500 5,805,318 SMC FOODANDBEV FIGARO COFFEE 0.58 0.59 0.57 0.61 0.57 0.59 7,853,000 4,667,560 ALLIANCE SELECT 0.58 0.6 0.6 0.6 0.58 0.58 145,000 84,520 1.14 1.16 1.15 1.17 1.1 1.16 2,268,000 2,600,440 FRUITAS HLDG 107 108.9 107 108.5 105 107 10,440 1,103,767 GINEBRA JOLLIBEE 230.8 232 222.6 234.8 222.4 230.8 766,890 177,524,912 KEEPERS HLDG 1.2 1.21 1.2 1.21 1.17 1.21 2,646,000 3,170,390 6.08 6.12 6.1 6.31 6.04 6.12 84,100 514,618 MAXS GROUP 0.143 0.149 0.145 0.145 0.142 0.142 800,000 114,260 MG HLDG MONDE NISSIN 13.5 13.74 13.8 14.18 13.5 13.5 9,164,600 126,283,608 SHAKEYS PIZZA 8.12 8.42 7.9 8.44 7.9 8.12 80,400 657,509 0.68 0.7 0.71 0.71 0.68 0.7 478,000 328,860 ROXAS AND CO RFM CORP 4.4 4.45 4.45 4.45 4.45 4.45 2,000 8,900 SWIFT FOODS 0.105 0.109 0.103 0.109 0.103 0.109 150,000 16,040 UNIV ROBINA 111.5 111.6 111.7 112.5 110.2 111.5 2,304,090 256,302,998 0.64 0.65 0.63 0.65 0.63 0.65 3,062,000 1,986,960 VITARICH CONCRETE A 45.3 47.8 47.5 47.5 47.5 47.5 2,000 95,000 CEMEX HLDG 0.93 0.94 0.99 0.99 0.92 0.94 4,340,000 4,097,390 EAGLE CEMENT 12.68 12.98 12.98 12.98 12.56 12.92 1,977,600 24,844,414 5.62 5.7 5.8 5.8 5.61 5.7 188,600 1,071,339 EEI CORP 5.49 5.55 5.31 5.6 5.3 5.55 127,400 699,477 HOLCIM MEGAWIDE 5.02 5.05 5.08 5.3 5 5.02 389,600 1,988,587 PHINMA 19.42 20.75 19.4 20 19.4 20 8,800 173,894 0.89 0.9 0.94 0.94 0.9 0.9 238,000 216,270 TKC METALS VULCAN INDL 1.16 1.17 1.42 1.42 1.17 1.17 44,948,000 56,556,780 CROWN ASIA 1.7 1.73 1.72 1.73 1.72 1.73 110,000 190,150 MABUHAY VINYL 4.3 4.43 4.43 4.43 4.43 4.43 2,000 8,860 5.65 5.89 5.6 6 5.5 5.89 161,000 890,049 PRYCE CORP 21.1 22.25 21.05 21.1 21.05 21.05 1,500 31,595 CONCEPCION GREENERGY 1.75 1.77 1.77 1.8 1.73 1.77 4,966,000 8,790,790 INTEGRATED MICR 8.34 8.36 8.25 8.36 8.2 8.34 240,500 1,993,065 0.72 0.75 0.7 0.72 0.7 0.72 34,000 24,160 IONICS PANASONIC 6.1 6.2 6.19 6.2 6.19 6.2 14,500 89,860 SFA SEMICON 1.1 1.14 1.12 1.14 1.08 1.14 392,000 436,980 CIRTEK HLDG 3.32 3.33 3.26 3.42 3.26 3.33 993,000 3,279,020

-16,686,121 -3,049,470 8,517,110 203,706.50 62,935,132 2,028,020 -1,545,650 84,732 -6,067,154 -4,713,624 -71,200 2,200,930 -2,931,754 121,700 -5,125,645 -6,576,295 -8,734,982 -2,809,115.00 156,010.00 -67,280.00 -2,300 -82,831 8,078,162 414,010 -14,868 -17,587,934 301,350 -19,000,611 19,000 -96,657 14,370 -563,955 -726,620 -832,646 -5,452,190 33,120 -130,750 -87,620.00

HOLDING & FRIMS

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 LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

125.4 93.25 26.3 8.72 53.7 19.56 56.6 20.6 106.9 94.05 1.92 3.92 2.36 0.62 206

0.82 5.02 815 57.75 12.8 9 0.97 0.74 0.73 5 9.04 7.12 0.24 524.5 3.33 55 6.55 0.57 2.94 9.12 0.34 3.69 2.76 1.33 871 102 119 0.3

127 94 26.4 8.74 53.75 19.58 56.7 21 107 94.15 2.05 4 2.5 0.66 210

0.83 5.4 820 59.2 12.88 9.07 0.99 0.75 0.74 5.15 9.05 7.13 0.27 525 3.6 56 6.99 0.59 2.96 9.19 0.39 3.71 2.97 1.41 890 102.5 119.9 0.31

123.1 91.55 26.7 8.5 52.5 19.64 56.6 20.6 106.9 94.5 2.14 3.96 2.5 0.64 202.2

0.82 5.02 801.5 58.7 12.6 8.38 1.06 0.69 0.7 4.93 9.24 7.15 0.24 523.5 3.6 57.5 6.54 0.58 2.94 9.2 0.34 3.71 2.77 1.4 890.5 102.5 119 0.3

127.9 94.5 26.7 8.9 54.35 19.76 56.7 21 109 94.5 2.14 4 2.5 0.64 206

0.84 5.02 825 60.1 12.92 9.07 1.06 0.77 0.76 5.2 9.29 7.15 0.24 538.5 3.6 59 6.54 0.58 2.95 9.3 0.34 3.76 2.99 1.41 919.5 102.5 119.9 0.3

122.7 91.55 26.25 8.5 52.5 19.58 56.6 20.6 106.1 93.5 1.98 3.95 2.5 0.62 202

0.81 5.02 800.5 57.75 12.52 8.2 0.97 0.69 0.7 4.92 8.86 7.12 0.24 521.5 3.6 55 6.54 0.57 2.94 9.11 0.34 3.69 2.76 1.39 871 100 119 0.3

125.4 93.25 26.45 8.74 53.75 19.58 56.7 20.6 107 94.05 2.05 4 2.5 0.62 206

0.83 5.02 815 57.75 12.8 9 0.99 0.74 0.74 5.15 9.05 7.12 0.24 525 3.6 55 6.54 0.57 2.95 9.12 0.34 3.69 2.99 1.41 871 102 119 0.3

3,562,380 3,577,590 62,400 315,600 6,138,670 283,200 1,810 9,900 818,460 77,430 1,067,000 59,000 1,000 157,000 2,820

2,218,000 5,900 217,270 1,538,320 3,914,900 52,600 4,607,000 96,759,000 3,945,000 1,232,000 16,082,400 39,300 20,000 298,050 15,000 2,608,290 1,000 673,000 1,125,000 3,095,900 10,000 16,168,000 7,000 104,000 705,530 236,000 180 260,000

1,838,950 29,618 177,557,335 90,599,877.50 50,023,440 464,236 4,629,360 72,213,390 2,915,300 6,260,480 145,682,407 280,616 4,800 158,237,965 54,000 145,151,001 6,540 388,700 3,318,160 28,316,080 3,400 59,976,760 19,600 145,480 626,050,610 23,903,546 21,510 78,000

PROPERTY ARTHALAND CORP 0.55 0.56 0.56 0.56 0.55 0.55 56,000 31,350 AYALA LAND 37.2 37.85 36.8 38.05 35.95 37.2 10,201,900 380,402,240 4.54 4.56 4.57 4.57 4.42 4.54 751,000 3,395,480 AYALA LAND LOG 1 1.05 1.04 1.05 1.04 1.05 4,000 4,180 ARANETA PROP AREIT RT 48.55 48.7 47.1 49.45 47 48.7 1,158,100 56,313,510 A BROWN 0.93 0.95 0.92 0.95 0.92 0.94 1,974,000 1,853,280 0.7 0.71 0.7 0.7 0.7 0.7 228,000 159,600 CITYLAND DEVT 0.091 0.096 0.098 0.098 0.09 0.097 32,340,000 2,945,320 CROWN EQUITIES CEB LANDMASTERS 2.81 2.86 2.77 2.88 2.76 2.81 378,000 1,071,200 CENTURY PROP 0.385 0.39 0.38 0.39 0.38 0.39 180,000 70,000 2.65 2.66 2.55 2.66 2.55 2.65 18,524,000 48,854,870 CITICORE RT 10.44 10.48 10.22 10.76 10 10.48 2,265,200 23,296,902 DOUBLEDRAGON DDMP RT 1.73 1.74 1.71 1.75 1.71 1.74 6,954,000 11,978,620 DM WENCESLAO 6.98 6.99 7 7 6.98 6.99 25,700 179,724 0.27 0.275 0.27 0.28 0.26 0.275 5,710,000 1,540,800 EVER GOTESCO 7.13 7.18 7.15 7.2 6.98 7.13 2,667,000 18,908,434 FILINVEST RT FILINVEST LAND 1.07 1.09 1.08 1.09 1.07 1.07 5,963,000 6,472,380 GLOBAL ESTATE 0.88 0.9 0.88 0.93 0.88 0.88 18,000 15,920 13.2 13.4 13.78 13.84 13.2 13.4 167,800 2,238,942 8990 HLDG 635 645 635 645 635 645 180 115,400 GOLDEN MV PHIL INFRADEV 0.97 0.99 0.96 0.99 0.96 0.97 265,000 257,890 CITY AND LAND 0.81 0.84 0.84 0.84 0.81 0.82 45,000 36,680 3.1 3.11 3.01 3.11 3.01 3.1 20,675,000 63,804,100 MEGAWORLD 0.26 0.265 0.245 0.26 0.242 0.26 13,990,000 3,545,640 MRC ALLIED MREIT RT 18.64 18.66 18.5 18.8 18.38 18.66 3,278,500 61,008,378 PHIL ESTATES 0.41 0.415 0.41 0.415 0.41 0.41 1,860,000 764,000 2.22 2.24 2.26 2.26 2.15 2.24 2,706,000 6,011,520 PRIMEX CORP 7.38 7.4 7.15 7.48 7.15 7.4 13,215,900 97,449,197 RL COMM RT ROBINSONS LAND 19.5 19.66 18.8 19.7 18.54 19.66 5,935,500 113,654,982 PHIL REALTY 0.219 0.223 0.222 0.223 0.222 0.223 680,000 151,010 1.4 1.5 1.5 1.5 1.4 1.4 6,000 8,600 ROCKWELL SHANG PROP 2.54 2.61 2.61 2.61 2.61 2.61 1,000 2,610 STA LUCIA LAND 2.72 2.79 2.72 2.79 2.72 2.79 22,000 60,580 SM PRIME HLDG 37 37.25 36.75 38.35 36.75 37 24,710,300 932,098,315 0.58 0.62 0.63 0.63 0.6 0.6 75,000 47,100 SOC RESOURCES VISTAMALLS 3.4 3.5 3.4 3.4 3.4 3.4 26,000 88,400 SUNTRUST HOME 1 1.04 1 1.05 0.99 1 323,000 323,320 VISTA LAND 3.04 3.05 3.08 3.08 3.01 3.05 4,176,000 12,752,890

SERVICES ABS CBN 12.12 12.2 12.26 12.26 11.9 12.12 57,300 695,252 GMA NETWORK 15.26 15.28 15.08 15.34 15 15.28 721,800 10,963,488 0.405 0.42 0.42 0.42 0.42 0.42 10,000 4,200 MANILA BULLETIN GLOBE TELECOM 2,488 2,490 2,456 2,526 2,444 2,490 46,680 115,969,460 PLDT 1,833 1,860 1,840 1,864 1,833 1,833 160,110 296,133,790 APOLLO GLOBAL 0.059 0.06 0.064 0.065 0.058 0.06 889,190,000 54,071,670 23.95 24 24.75 25 23.75 24 10,310,600 249,737,265 CONVERGE 2.28 2.39 2.31 2.4 2.28 2.38 302,000 706,940 DFNN INC DITO CME HLDG 5.19 5.2 5.08 5.38 5.08 5.19 10,201,800 53,559,551 JACKSTONES 1.58 1.64 1.6 1.64 1.6 1.64 5,000 8,160 1.19 1.2 1.15 1.2 1.15 1.2 343,000 402,920 NOW CORP TRANSPACIFIC BR 0.33 0.35 0.33 0.35 0.33 0.33 12,220,000 4,123,100 2GO GROUP 7.3 7.35 7.3 7.5 7.3 7.3 12,300 89,940 ASIAN TERMINALS 14 14.2 14.2 14.2 14.2 14.2 1,200 17,040 1.54 1.59 1.6 1.61 1.54 1.54 1,265,000 1,962,440 CHELSEA CEBU AIR 42.85 43.05 42 43.9 41.95 43.05 428,700 18,143,795 INTL CONTAINER 225 226 220 227.8 219 225 2,527,730 567,778,154 LBC EXPRESS 23 23.3 22 23 22 23 33,100 761,200 5.3 5.31 5.25 5.38 5.11 5.31 2,694,300 14,139,990 MACROASIA 1 1.02 1 1.01 1 1.01 50,000 50,150 METROALLIANCE A HARBOR STAR 0.79 0.8 0.8 0.8 0.8 0.8 53,000 42,400 ACESITE HOTEL 1.38 1.5 1.37 1.45 1.37 1.45 26,000 37,220 1.45 1.53 1.54 1.54 1.44 1.53 153,000 225,290 DISCOVERY WORLD 0.45 0.455 0.465 0.465 0.45 0.45 800,000 360,600 WATERFRONT FAR EASTERN U 535 536 536 536 536 536 660 353,760 STI HLDG 0.355 0.36 0.36 0.365 0.35 0.355 100,000 35,800 1.3 1.31 1.26 1.31 1.26 1.31 203,000 263,790 BELLE CORP 7.2 7.35 6.88 7.35 6.88 7.35 6,652,400 47,527,348 BLOOMBERRY PACIFIC ONLINE 1.72 1.77 1.7 1.77 1.7 1.77 10,000 17,350 LEISURE AND RES 1.3 1.34 1.36 1.36 1.3 1.34 821,000 1,078,850 1.17 1.18 1.24 1.25 1.14 1.18 4,931,000 5,825,600 PH RESORTS GRP 0.435 0.44 0.44 0.44 0.435 0.435 4,510,000 1,964,600 PREMIUM LEISURE PHILWEB 2.18 2.2 2.2 2.22 2.18 2.2 229,000 504,720 ALLDAY 0.45 0.455 0.435 0.46 0.425 0.45 27,290,000 12,182,150 5.66 5.8 5.66 5.66 5.66 5.66 16,300 92,258 BERJAYA ALLHOME 8.8 8.99 8.63 9 8.62 8.9 1,118,700 9,952,386 METRO RETAIL 1.41 1.42 1.42 1.43 1.42 1.42 1,235,000 1,753,780 PUREGOLD 33.6 33.7 33.7 33.8 33.55 33.6 983,200 33,114,630 54.85 54.95 54 55.7 54 54.95 982,050 53,486,367.50 ROBINSONS RTL 65.1 66 66 67.95 65 66 51,540 3,402,517 PHIL SEVEN CORP SSI GROUP 1.05 1.06 1.05 1.07 1.04 1.05 1,205,000 1,268,490 WILCON DEPOT 26.85 26.95 26.35 27.15 26.35 26.85 1,984,000 53,397,660 0.243 0.25 0.27 0.27 0.242 0.25 1,400,000 349,780 APC GROUP IPM HLDG 6.9 7 7 7 7 7 2,000 14,000 MEDILINES 0.94 0.95 0.95 0.97 0.9 0.95 2,078,000 1,967,380 PRMIERE HORIZON 0.61 0.62 0.6 0.64 0.58 0.61 11,322,000 6,837,110 3.7 3.79 3.68 3.78 3.68 3.78 6,000 22,380 SBS PHIL CORP

MINING & OIL ATOK 5.71 6.1 6.1 6.29 6.1 6.1 10,700 66,258 1.87 1.89 2.04 2.05 1.85 1.87 25,147,000 48,327,900 APEX MINING 7.89 7.9 8.4 8.4 7.5 7.89 4,061,800 31,885,986 ATLAS MINING BENGUET A 5.43 5.99 6.27 6.27 6 6 164,700 1,004,165 BENGUET B 6.11 6.23 6.11 6.25 6.11 6.23 202,200 1,260,760 0.27 0.28 0.305 0.305 0.26 0.27 2,490,000 693,800 COAL ASIA HLDG DIZON MINES 5.03 5.47 5.8 5.8 5.5 5.5 10,300 57,880 FERRONICKEL 3.1 3.15 3.4 3.4 2.97 3.15 69,585,000 218,140,270 GEOGRACE 0.22 0.223 0.224 0.225 0.223 0.223 690,000 154,810 0.175 0.176 0.183 0.185 0.173 0.175 35,060,000 6,165,600 LEPANTO A LEPANTO B 0.18 0.181 0.176 0.185 0.176 0.185 970,000 173,760 MANILA MINING A 0.01 0.011 0.01 0.01 0.01 0.01 42,400,000 424,000 MANILA MINING B 0.01 0.011 0.012 0.012 0.01 0.01 37,500,000 396,400 2.05 2.06 2.35 2.35 2 2.05 24,814,000 53,687,880 MARCVENTURES 1.11 1.16 1.4 1.4 1.1 1.11 2,463,000 2,914,160 NIHAO NICKEL ASIA 8.55 8.57 9.49 9.49 8.4 8.57 43,713,000 381,846,853 ORNTL PENINSULA 1.12 1.15 1.26 1.26 1.12 1.15 13,955,000 16,697,140 6.35 6.4 6.82 6.86 6.27 6.35 7,584,600 49,048,859 PX MINING 32 32.05 33.55 33.6 31.25 32.05 7,682,200 245,979,105 SEMIRARA MINING UNITED PARAGON 0.0075 0.0077 0.0085 0.0085 0.0074 0.0076 150,000,000 1,194,200 ACE ENEXOR 26.05 26.5 26.3 27.3 25.2 26.5 299,500 7,861,135 0.012 0.013 0.012 0.013 0.012 0.013 66,600,000 799,400 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.013 0.014 0.012 0.012 34,200,000 424,700 PHILODRILL 0.01 0.011 0.01 0.011 0.01 0.01 150,600,000 1,576,500 PXP ENERGY 6.79 6.8 6.89 6.99 6.71 6.8 1,938,200 13,234,754

PREFFERED HOUSE PREF A 99.5 101 100 101 100 101 12,210 1,230,504 ALCO PREF D 512 520 512 512.5 512 512 6,100 3,124,150 504 510 505 505 505 505 220 111,100 AC PREF B2R BRN PREF A 101 105.9 104 104 104 104 1,000 104,000 CEB PREF 42.5 44.4 42.6 42.65 42.5 42.5 13,400 571,075 CPG PREF A 102 102.9 102 103 102 102.9 22,010 2,247,029 100.2 101.1 100.5 100.6 100.3 100.3 1,960 196,598 DD PREF EEI PREF B 106.5 109.4 109.5 110 109.5 110 9,000 989,300 FGEN PREF G 102.5 104 104 104 103.9 104 21,280 2,212,991 GTCAP PREF B 1,022 1,043 1,022 1,022 1,022 1,022 2,000 2,044,000 990 1,020 990 990 990 990 50 49,500 JFC PREF A JFC PREF B 1,000 1,010 1,000 1,000 1,000 1,000 500 500,000 MWIDE PREF 2A 98 100 99 99 98 98 3,000 294,840 MWIDE PREF 4 99.8 100 99.4 100.2 99.4 100 630 62,996 101 103 103.1 103.1 101 103 880 90,040 PNX PREF 3B PNX PREF 4 975 986 975 986 975 986 7,870 7,695,920 PCOR PREF 3A 1,060 1,088 1,060 1,060 1,060 1,060 350 371,000 PCOR PREF 3B 1,080 1,089 1,087 1,090 1,080 1,080 1,430 1,554,270 77 78 78 78 78 78 52,900 4,126,200 SMC PREF 2F SMC PREF 2H 76.75 77 77 77 77 77 3,100 238,700 SMC PREF 2I 77.5 78.75 76.45 76.45 76.45 76.45 12,000 917,400 SMC PREF 2K 76.05 76.95 76.05 76.05 76.05 76.05 250 19,012.50

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.3 12.08 11.5 11.5 11.3 11.3 2,000 22,870 GMA HLDG PDR 14.18 14.2 14 14.2 14 14.18 71,100 1,006,238

WARRANTS TECH WARRANT 0.67 0.68 0.72 0.73 0.68 0.68 583,000 409,240

708,030 -20,146,680 196,270 2,679,576 47,600 105,080 5,317,140 29,416,441 -26,973,460 -69,058,388 -3,144,700 -10,643,309.00 -4,409,100 -161,774,850 -2,316,725 36,008,125 214,300 10,014,600 10,500 -106,390 124,490 518,290.00 -1,022,974 -2,240,150 -464,400 -2,133,332 5,773,520 469,314 3,240 37,042,160 50,000 -21,024,902 -4,511,750 13,693,761 5,553,118 520,447,785 -7,616,470 3,203,250 53,950,915 1,075,180 -88,230,180 -175,580 -9,175,570 13,140 1,808,765 91,150,516 508,412 9,100 -170,300 17,847,138 103,240 78,650 66,490 1,149,300 4,498,026 7,663,630 -21,081,299 -216,482 -531,440 -11,279,800 123,920 -14,310 -21,350 1,021,140 9,341,394 625,000 23,200 -26,198,160 66,000 -199,250.00 12,480.00 7,528,543 52,920 7,379,919 -7,648,485 14,300 -543,505 -240,000 40,000 -60,367

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

15.82 0.97 0.97 1.93 0.375

16.5 0.98 0.98 1.94 0.38

EXHANGE TRADE FUNDS

FIRST METRO ETF

107

108.5

15.8 0.97 0.97 1.87 0.38

15.8 0.99 1 1.98 0.39

15.8 0.96 0.95 1.87 0.38

15.8 0.97 0.98 1.94 0.38

5,900 1,228,000 484,000 5,159,000 880,000

93,220 1,188,370 473,610 9,958,440 338,300

-52,000 -5,680 21,110 218,280 960 723,310 17,800

107.8 108.5 107 107 52,190 5,619,202 1,494,843

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Thursday, March 10, 2022

B3

BIR to stop perks if BPOs defy WFH rule BSP to pilot digital cash transacted thru banks

By Cai U. Ordinario @caiordinario

T

HE Bangko Sentral ng Pilipinas (BSP) aims to pilot Central Bank Digital Currencies (CBDC), whose “time has come” according to the Central Bank governor.

BSP Governor Benjamin E. Diokno said in a statement on Wednesday, “Project CBDCPh” will help build capacity and knowledge about CBDC. The Associated Press earlier explained that a CBDC “would differ in some key ways from the online and digital payments that millions of Americans already conduct. Those transactions are funneled through banks, which wouldn’t be necessary with a digital dollar.”

“We can say that [the] CBDC may be an idea whose time has come, but certainly it has many aspects that need to be better understood,” Diokno said.

“As next step, the BSP targets to roll-out in the near term a pilot CBDC implementation,” the central bank governor added.

“The project aims to build organizational capacity and handson knowledge of key aspects of CBDC that are relevant for a use case around addressing frictions in the national payment system.”

The BSP and the Alliance for Financial Inclusion earlier hosted the Knowledge Exchange Program on Central Bank Digital Currencies (CBDC) for Financial Inclusion. This is part of ongoing efforts to explore and evaluate potential use cases of the technology.

The knowledge exchange program featured insights from central banks, multilateral institutions, policy think tanks, financial service providers and other private institutions.

The program examined the potential and impact of CBDC on financial inclusion and looked at the various design considerations and implementation challenges, including the underlying technology.

Aside from the BSP, participants from the central banks of Malaysia, Thailand, Cambodia, Armenia, Bahamas, Ghana, and Sweden attended the 3-day virtual knowledge exchange program.

The BSP is a founding member of AFI, a global network of 100 members from 89 countries composed of central banks and regulatory financial institutions working jointly to promote financial inclusion across the globe.

By Bernadette D. Nicolas

T

@BNicolasBM

HE Bureau of Internal Revenue (BIR) warned on Wednesday that income tax incentives granted to registered business enterprises (RBEs) in the lnformation Technology-Business Process Management (lT-BPM) sector will be suspended if they violate the work-from-home (WFH) threshold set by the Fiscal Incentives Review Board (FIRB).

In Revenue Memorandum Circular 23-2022, the BIR said non-compliance to the conditions prescribed

under the FIRB resolutions shall be meted with suspension if the income tax income incentive on the revenue

corresponding to the months of noncompliance.

The FIRB is the government agency that oversees the administration and grant of tax incentives by the Investment Promotion Agencies (IPAs).

“Hence, [the] RBE shall pay the income tax using the regular rate of either 25 percent or 20 percent based on the taxable net income corresponding to the months the RBE has violation,” read the circular signed by BIR Commissioner Caesar R. Dulay.

For its part, the IT and Business Process Association of the Philippines (IBPAP) said members of the industry group are undertaking a “smooth transition to onsite operations.”

In a statement issued last Wednesday, IBPAP President and CEO Jack Madrid was quoted as saying they “support the need to fully reopen the economy.”

“But as IT-BPM employees have an overwhelming preference for a balanced, hybrid work arrangement, we are working with our government partners to provide the industry a smooth transition to onsite operations towards a WFH / Hybrid model in the longer term,” Madrid said.

To recall, the FIRB allowed RBEs in the IT-BPM sector to continue implementing WFH arrangements without adversely affecting their fiscal incentives until March 31 this year subject to certain conditions.

These conditions include having the number of employees under a WFH arrangement not exceeding 90 percent of the RBE’s total workforce.

Another condition is that the number of computer laptops/other equipment of the RBE outside the ecozone should not exceed the number of its employees who are under

WFH scheme.

Likewise, bonds shall be posted for equipment deployed by the RBE to their employees’ homes, to ensure payment of taxes and duties if any such equipment is not returned to the site of the RBE after the WFH arrangement.

The FIRB also requires that revenues from export as required “shall be maintained regardless of the allowed ratio of employees who will work from home; provided, that the current number of employees shall not be reduced regardless if the majority of their employees are working from home.

The RBE shall comply with the reportorial requirements and site inspection, as may be required by the FIRB or IPA, the FIRB said.

The BIR said the circular shall take effect immediately until March 31, 2022 in line with FIRB Resolution 19-2021.

Unionbank tapped by logistics firm for online biz solutions

By Roderick Abad

@rodrik_28

Contributor

F

lash Express (Ph) Co. Ltd. Inc. announced last Wednesday it inked a partnership deal with Union Bank of the Philippines (UnionBank) to provide an online business solutions to micro, small and medium enterprises (MSMEs), particularly online social sellers and e-commerce entrepreneurs.

The logistics and courier services provider is grateful for the opportunity to be across the Aboitiz-led bank’s online marketplace, Flash

Express Head of Legal and Compliance Sherry Lou Bernabe said.

“The main objective of this partnership is two-pronged: to introduce and integrate Flash Express to the e-commerce business platforms of UnionBank, and to provide logistics business solutions to UnionBank’s clients by facilitating easy access to Flash Express’ services,” Bernabe, also the firm’s spokesman, said.

On their part, Jose Paolo R. Soliman, vice president and SME and micropreneurs segments head for Customer Experience Group at

UnionBank, expressed excitement for this collaboration.

“This is a marriage of two innovative organizations. Flash Express will bring the technology of logistics and UnionBank brings in the technology for banking and settlements.

Combined, we will be able to tap more MSMEs and grow their businesses further through our robust courier and banking solutions,” he said.

Union Bank’s mission has always been to uplift the position of small scale businesses through digital solutions and digital onboarding.

Due to the ensuing Covid-19 pan-

demic, majority of them have turned to e-commerce which, in turn, engaged the logistics and courier service providers.

This is where Flash Express has come into play since it’s entry to the Philippine market last year, raising the logistics industry standards while disrupting the local courier sector by providing tech-driven and world-class probusiness solutions.

To continue its growth momentum, the company will be tapping other brands and government agencies for collaboration and introduce

its logistics services, according to Flash Express Public Relations and Partnerships Manager Reginald Rex Pumihic.

“Big things are yet to come for Flash Express as we are planning to have partnerships that aim to build relationships among the companies in the industry such as this partnership with UnionBank and we are also looking into partnering with different government agencies and LGUs [local government units] as we are also present in almost all of the provinces across the country,” Puhimic said.

Stretching Productive Life

I

GEARING UP

This undated photo courtesy of the Financial Stability Coordination Council shows (from left) Insurance Commissioner Dennis B. Funa; Bangko Sentral ng Pilipinas, Governor Benjamin E. Diokno; Securities and Exchange Commission Chairman Emilio B. Aquino and FSCC Technical Secretariat Head Johnny Noe E. Ravalo during the FSSC quarterly meeting. According to the FSSC, it recognizes the fluidity of market conditions and assures the public it is taking steps to sustain the recovery of the Philippine economy. The Council also called on the collective effort of its stakeholders as the financial system prepares for global developments which may have systemic risk implications. The FSCC is the venue for financial market authorities to identify, monitor, manage, and mitigate the build-up of systemic risk in the Philippine financial system.

Photo courtesy of the Financial Stability Coordination Council

Bank of Commerce IPO gets PSE nod

T

HE Philippine Stock Exchange Inc. (PSE) cleared the initial public offering (IPO) application of Bank of Commerce. The bank is set to offer up to 280.60 million shares at a price of up to P12.50 per share, the selfregulatory organization said in a statement.

According to the PSE, the final offer price will be determined on March 11 after the bank conducts its book building process.

Proceeds from the share sale will be used by the bank to fund its lending activities, acquire investment securities and finance its capital expenditure requirements, the PSE statement read.

Bank of Commerce, which will be using the ticker symbol “BNCOM”, targets to

conduct its IPO from March 16, 2022 to 22, 2022 while its tentative listing date is on March 31, 2022.

“Bank of Commerce is certainly a welcome addition to the roster of banking stocks in the PSE. This IPO will not only benefit the bank but its clients and future shareholders as well, more so now that it has been granted a universal bank license,” PSE President and CEO Ramon S. Monzon was quoted in the statement as saying.

Ten percent of the BNCOM’s firm offer shares will be made available to local small investors (LSIs), who may subscribe to the IPO through the “PSE EASy” website or mobile application, the PSE’s statement read.

have been paying income taxes since I was 18 years old and now at 63, 45 years later I still do, with no end in sight.

Arguably, there could be a lot of debate as to what a productive life is. For me, it is quite simple: it means that you add value not only to your family but to society as a whole. In effect you contribute more than you take.

Unfortunately, there are those that have very short productive lives or even none at all. It is understandable that those afflicted with mental or physical challenges and those who lost their lives at a young age, may be excused. However, there is no excuse for those that are of sound mind and body to just become leeches that live off the blood and sweat of others.

There are a number of ways to stretch your productive life. Those that immediately come to mind include continuing education, good work ethic, motivation and a balanced life. Continuing educations means upgrading yourself constantly to keep up with the improvements in technology, the changing requirements of the labor market and learning new things to add value and relevance to yourself. All these things will make you less vulnerable to be-

Finex free enterprise George S. Chua ing laid off and make you more likely to have something to do that people will pay money for.

Having a good work ethic means coming to work on time and doing your work right without having to be told or supervised all the time. During difficult times, workers without a good work ethic are easily identified and normally the first ones to let go. People with a good work ethic have a better chance of getting the job done and is a good role model for other people in the organization, which makes them more valuable and a welcome member of the work force.

Being motivated is also a good way to stretch your productive life.

Knowing the importance of your work, liking what you are doing and understanding why you need to do certain things motivates you to do your work on time, all the time. Motivation provides a visual sign to everybody that you

take your work seriously and that you pay attention to what you are doing. Motivation also keeps you going even when the situation at work becomes more difficult or you don’t feel well.

Finally, a balanced life allows you to remain healthy by giving your mind and body the opportunity to recharge by spending time with your family, doing things you like and enjoying the company of friends. While focusing on your job during work hours or as the need arises is important, this cannot be on a constant basis. Having a long productive life is not a 100 meter dash but more of a marathon where you need to pace yourself to reach the finish line.

There are also a number of advantages to having a long productive life such as being able to keep on earning to build up your retirement fund and keeping your mind and body active which will probably prolong your life, assuming you do not stress out yourself too much. More importantly, you are able to maintain your independence and dignity by not being a burden to anyone.

The views and comments of the author are his own and not of the newspaper or FINEX. Comments may be sent to georgechua@igsat.asia.

BPI launches digital banking platform for MSMEs’ invoice, collection system

By Rizal Raoul S. Reyes @brownindio

P

REACHING the importance of digital technology to micro, small and medium enterprises (MSMEs) has become easier in these challenging times, according to an official of one of the leading banks in the country.

“I can say we have an easier time today to convince MSMEs because they are prepared to use digital technology and believe it would life easier for them, “ Eric Roberto M. Luchangco, Head of Business Banking at BPI Bank of the Philippine Islands (BPI) said during the online

launch of the bank’s digital platform it dubs “BizKo.” According to Luchangco, the subscription-based digital banking “enables” MSMEs “to manage their business finances and provides an integrated online system for invoicing and collection.”

Ana Maria C. Sison, head of BPI’s transaction services division, said the “all-in-one” online platform available via app and web “offers MSMEs immediate access to their account information. These functions include the following: checking balances, deposits and payables; regularly pay employees, suppliers, utilities and government dues; cre-

ating digital invoices under their business name; getting invoice number reminders to avoid duplication; and, receive and monitoring payments.

Sison added a BPI online banking account linked to the platform allows entrepreneurs “to skip the hassle of submitting multiple requirements for onboarding and, instead, easily enroll and transact” via the platform.

“The pandemic made running a business even more challenging for Filipino MSMEs. Aside from decreased profitability, entrepreneurs need to contend with heightened complexity, as issues like illnesses

and lockdowns limited their mobility, made operations more expensive, and caused significant delays that bloated their overhead expenses,” Luchango explained.

He added the bank launched the platform “to make business transactions more seamless and efficient for MSMEs, enabling them to save both time and money, even amid the uncertainties today.”

Moreover, Luchangco sa id the platform enables MSMEs “to streamline daily financial and accounting processes without the need to move funds to another e-wallet or bank account, or physically go to the branch.” He said this will allow

entrepreneurs to make transactions “easier with the partners and customers for more accurate and hassle-free monitoring.”

By introducing the platform, Luchangco said MSMEs “can now enjoy these benefits that usually come with having a corporate online banking platform and often require a significant initial deposit and the maintenance of a daily balance that some MSMEs struggle with.” He said the platform “allows them to access these services through flexible and friendly subscription plans available in monthly and annual terms that start at P 50 and P100 per month for basic and premium plans respec-

tively, without the need for an average daily balance.”

“We aim to provide individuals and businesses an efficient, inclusive, safe, and secure digital payments ecosystem to reinforce our commitment to be the MSMEs’ partner-ofchoice,” Sison said.

She added the platform “aims to address the pain points and ease the challenges of MSMEs in cash and liquidity management so they can focus on keeping their businesses afloat, finding opportunities to boost profitability, and supporting their employees, partners, customers and their own families and communities.”

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Thursday, March 10, 2022

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Binondo-Intramuros Bridge opens ‘gateways’ to multifaceted benefits in PHL-China ties

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By Malou Talosig-Bartolome

S a fitting symbol of his country’s links with the Philippines, Ambassador Huang Xilian anticipates the societal and economic benefits of the new China-granted infrastructures in Manila fully realized.

On March 3 Huang led an onsite inspection of the Binondo-Intramuros (BI) Bridge, as it reached the final leg of construction.

“We hope that the completion of this bridge would contribute to traffic easing and the prosperity of this city,” the ambassador said. “[Its design…symbolizes our friendship, moving forward hand in hand, shoulder and shoulder], while connecting the past, present and the future.”

Together with Foreign Affairs

Undersecretary Robert Borje and several Filipino-Chinese chambers of commerce group leaders, the visit to the BI Bridge, alongside the China-Philippines Friendship Park project, marks the newest Manila landmarks’ near completion, with final retouching to begin this month.

The envoy shared that Chinese engineers employed the latest technologies to build the BI Bridge, which was passed on to their Filipino counterparts. Once opened,

HUANG (third from left) personally inspects the newly constructed span in Manila

the bridge can accommodate up to 30,000 vehicles daily, and is seen to decongest traffic traversing the areas where the span was named after.

Huang said there are a total of five bridges that will be built across the Pasig River. One has already

been completed, while three others are expected to be finished in the coming years.

“We have implemented more than one dozen government projects, including some railways…[the Kaliwa Dam, and the] Davao-Samal connector bridge,” he said.

For his part, Borje expects that the BI Bridge would positively impact Filipinos, and the partnership between the Philippines and China: “[It] is a very important project of President Duterte, since he wants projects undertaken for the benefit of the people. We hope the next administration will continue [his] legacy, and the successes of our diplomatic relationship should spill over to the next administration,” Borje said.

FFCCCII President Henry Lim Bon Liong relayed the FilipinoChinese commerce associations’ future goals of providing more spaces that promote the linkages between both countries and their peoples: “I expect more cooperation, and our companies hope to take more roles in it. Most of us were born here in the Philippines, so we believe we will be catalysts who help each other through our friendship.”

Connecting two significant historical landmarks for both the

Australia, Macquarie invest in PHL’s women-led SMEs, sustain 1K+ jobs O T

Chinese and Filipinos, the BI Bridge is set to be a modern landmark in Manila that combines innovative infrastructure features and cultural inspirations, according to the Embassy of China in the Philippines. The bridge, it said, will improve travel efficiency in the area, advance the country’s bridgeconstruction skills and technology, while stimulating the Philippine economy’s construction, transport, tourism, and human skills-development industries, among others.

Meanwhile, the FFCCCII, the Federation of Filipino-Chinese Association of the Philippines Foundation Inc., as well as the Philippine Chinese Chamber of Commerce and Industry Inc. jointly created the China-Philippines Friendship Park built near the BI Bridge. The park will support the bridge in fulfilling the country’s socioeconomic needs, while commemorating the forged brotherhood in fighting the pandemic and the good deeds of the Filipino-Chinese community.

Japan equips San Lazaro Hosp. with tools for ‘Covid’ treatment

HE Australian government is “empowering women into the future,” as its partnership with the Macquarie Group Foundation, through the Investing in Women RISE Fund, currently boosts 13 women-led small and medium-sized enterprises (SMEs), while sustaining more than 1,000 jobs during the pandemic.

Economic disruptions caused by the health crisis have disproportionately affected women. In April 2020 the Philippines registered a 17.7-percent unemployment rate, with women being overrepresented in job losses. To address such, Investing in Women: an initiative of the Australian government and the Macquarie Group Foundation, launched the Macquarie-Investing in Women RISE Fund (the Fund). It supports women’s SMEs to adapt and respond to emerging business opportunities during the pandemic.

The Fund has enabled local partners such as the Foundation for a Sustainable Society Incorporated

and InBest Ventures provide investments to 13 women’s SMEs across rural and urban markets in the Philippines, including agriculture, technology, and infrastructure. It has helped sustain over 1,068 fulltime quality jobs, while continuing to expand new economic opportunities through business growth.

“This Women’s Month, I pay tribute to women-entrepreneurs who continue to drive the country’s economic recovery,” explained Ambassador Steven J. Robinson AO. “Australia is committed to supporting women-entrepreneurs and contributing to the resilience of local communities. The Macquarie-

Investing in Women RISE Fund has highlighted the central role that women play in economic recovery from Covid-19.”

“The Macquarie-Investing in Women RISE Fund” has been integral in our efforts to provide relief to Covid-19-affected communities in the Philippines.” The fund has expanded access to much needed capital for women’s SMEs who contribute to a more resilient, inclusive, and broad-based economy. “Working through impact investors, our support has helped businesses to restart economic activity in hardhit areas of the Philippines,” said Susan Clear of the Macquarie Group Foundation Robinson shared that Macquarie is one of the 300 Australia-based businesses operating in the Philippines. He added that the latter remains a top destination for his country’s investors, who in turn remain optimistic in their outlook for the trading climate across the archipelago.

should see more partnerships in the cyber security area.”

In the first session of the program, Governor Benjamin Diokno of the Bangko Sentral ng Pilipinas shared his insights on the Philippines Cyber Security ecosystem, and challenges in the financial sector.

In his speech, Governor Diokno mentioned some key areas for collaboration such as threat intelligence platform and setting up a national CERT, given the industry-wide initiatives in the Philippines, as well as the maturity and sophistications of Israel in terms of cyber security controls and management.

“I hope this session will strengthen ties and cooperation between Israel and the Philippines, so that our respective financial-services sectors remain safe, innovative and resilient in the digital economy,” he added.

Additionally, Jose Arnulfo A. Veloso, BAP president, highlighted in his remarks that cyber security remains to be top priority of the association. He shared advocacies of the BAP to promote and intensify its cybersecurity framework in the Philippine banking and financial services sector: “Together with the partnership of the guests in this forum, we can take them [cyber threats] head on.”

On the other hand, Doron Liberman, director of International Cooperation Development in the Israel National Cyber Directorate (INCD), shared the Israeli national approach and strategy to the cyber security ecosystem as a whole in the civilian sphere.

“The INCD looks at its constituencies in different layers: critical infrastructure, sectoral and general public,” Liberman explained.

He further disclosed that the INCD is a national agency that provides national intelligence, as well as active defense tools, methodologies, and awareness events where their assistance is needed.

Rahav Shalom-Revivo, head of Financial-Cyber Innovation and International Engagements from the Israel Ministry of Finance, shared the multinational financial cyber simulation that the ministry executed with countries that Israel has financial cyber relations with. In that simulation, she highlighted that international collaboration is key, and that there must be synchronization between finance and cyber decision-makers.

She added, “The collaborative understanding that…together, we can overcome such dramatic attacks that at some point in time will happen in the future.”

Eden Cohen, head of Security Operations Center of Bank Hapoalim, shared that in the last three years, there has been a significant rise in organized cyber crimes toward financial organizations by new and advanced tactics to penetrate the digital world.

With this, she highlighted that the best way to handle the new generation-attackers is by collaboration as a necessity to protect ourselves and our customers. She added that collaboration between people, businesses, technology, intelligence, and enforcements is a key in facing cyber-attacks quickly and thoroughly.

In his closing remarks, BAP Managing Director Benjamin Castillo shared that the power of collaboration is very important in cyber security. Discussions between INCD and the Israel Ministry of Finance, he mentioned, must be continued as the BAP continues to explore its options in building a national CERT. Israel is one of the leaders in cybersecurity expertise around the globe, which has about 40 percent of the global investments. Its related industry continued to grow in 2021, with a record of $8.8 billion in investments in 131 funding rounds, compared to 2020’s $2.9 billion. Also, 33 percent of cyber-security unicorns in the world are Israeli.

AMBASSADOR Steven J. Robinson AO (third from left), with partners and the women-entrepreneurs

N Marc h 2 A mbassador Kazuhiko Koshikawa turned-over Covid-19 related equipment to San Lazaro Hospital in a ceremony attended by Health Secretary Francisco Duque III and JICA (Japan International Cooperation Agency) Chief Representative Eigo Azukizawa.

During the event, Koshikawa emphasized that his country remains committed to support the Philippines in moving toward full pandemic recovery, then expressed his hope that “this state-of-the-art medical equipment strengthened the capacity of San Lazaro Hospital to treat and manage Covid-19 cases,” and that even after this pandemic, these will equip the hospital to deliver superior health-care services for other contagious diseases as well.”

“We will overcome this public health challenge alongside each other,” he concluded. “In this evolving health landscape, surely, you can always count on Japan. We will also count on the Philippines.”

The laboratory equipment and

KOSHIKAWA (second from left)

supplies are part of Japan’s grant aid to assist the Philippines in its battle against the pandemic.

Since the start of the contagion, Japan continuously stepped up its partnership with the Department of Health for comprehensive assistance to beat this contagion. The grant, amounting to ¥700 million, involves the provision of state-of-the-art medical equipment like automated DNA-extraction machines, biosafety cabinet, and a real-time PCR system, among others, to be installed in key hospitals and medical institutions.

It also includes the setting up of laboratory-surveillance sites across the country to augment the health sector’s capacity to address the pandemic, youth, and other emerging or re-emerging diseases that may occur in the future.

US Peace Corps, USAID, Israel, BAP share best practices in financial front cyber protection DOH jab 10,000+ in NCR

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HE Embassy of Israel in Manila and the Israel Economic and Commercial Mission to the Philippines, in cooperation with the Bankers Association of the Philippines (BAP), hosted the virtual event: “Optimizing Cyber Protection of the Financial Sector: Best Practices from Israel” on February 16.

Focusing on cyber security, the program had two parts: introducing the unique model of protecting financial institutions in Israel, while pitching for Israeli-led firms with innovative cyber security technologies as well as solutions for the financial sector.

Tomer Heyvi, economic counselor and head of the Mission, shared that the purpose of the event was to impart the Israeli expertise and technologies in the cyber security field, in the light of growing challenges and threats that financial institutions around the world, including the Philippines, are facing these days.

“My vision for the future of relations between Israel and the Philippines is to see growth in cooperation in innovation and technologies, especially in these critical and sensitive areas,” Ambassador of Israel to the Philippines Ilan Fluss shared. [My country] has proven itself as a reliable and solid partner of the [republic]; therefore, I believe we

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HE United States Peace Corps recently partnered with local health officials and the US Agency for International Development’s (USAID) ReachHealth project to vaccinate more than 10,600 Filipinos at mass vaccination clinics in Quezon City and Caloocan City.

Amid the Omicron surge in January and February, doctors and nurses from the US Peace Corps helped fill critical health-care worker shortages and meet vaccine demand by volunteering two days a week during the two-month period. Such was the first phase of a larger, nationwide effort to help protect Filipinos against Covid-19 by increasing the vaccination rate, which now stands at 71 percent with two doses.

In February the US Peace Corps’ medical team was able to screen and vaccinate adolescents at mass-vaccination clinics for the youth aged 12 to 17. In total, more than 2,700 patients aged 5 to 17 were given the vaccine.

Together with the Department of Health and USAID, the US Peace Corps will continue to provide medical professionals and other support staff to conduct pediatric vaccine clinics for children aged 5 to 11 in the National Capital Region, other parts of Luzon, and the Visayas.

“The US Peace Corps is pleased to team up with the Philippine government and USAID to support this critical, nationwide effort to protect the Filipino people and get children safely back to school in person,” said US Peace Corps Country Director Jenner Edelman in her recent visit to a mass vaccination clinic in Quezon City.

In the absence of American volunteers due to the ongoing pandemic, the US Peace Corps is devoting all available resources, including its medical professionals who would otherwise be caring for American volunteers, to supporting Philippine and US government partners in overcoming Covid-19 in the Philippines.

USAID’s health and humanitarian assistance supports the Philippine government in implementing internationally recognized prevention, control, and response strategies to protect Filipinos—including the most vulnerable—against Covid-19 and other infectious diseases.

To date the US-agency has provided $34.5 million in aid to improve the national and local responses through risk communication, laboratory strengthening, contact tracing, isolation, critical-care management, logistics management, training, and acceleration of vaccine coverage.

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Parentlife BusinessMirror

Editor: Gerard S. Ramos

• Thursday, March 10, 2022

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DR. Ed Manguiat, best known as the mentor of the awardwinning UP Singing Ambassadors, leads online voice classes at the Sunshine Place.

BECAUSE AGE IS JUST A NUMBER PHOTO BY TYSON ON UNSPLASH

Science says: Eat with your kids

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By Anne Fishel Harvard University

S a family therapist, I often have the impulse to tell families to go home and have dinner together rather than spending an hour with me. And 20 years of research in North America, Europe and Australia back up my enthusiasm for family dinners. It turns out that sitting down for a nightly meal is great for the brain, the body and the spirit. And that nightly dinner doesn’t have to be a gourmet meal that took three hours to cook, nor does it need to be made with organic arugula and heirloom parsnips.

BRAIN FOOD FOR starters, researchers found that for young children, dinnertime conversation boosts vocabulary even more than being read aloud to. The researchers counted the number of rare words—those not found on a list of 3,000 most common words—that the families used during dinner conversation.

Young kids learned 1,000 rare words at the dinner table, compared to only 143 from parents reading storybooks aloud. Kids who have a large vocabulary read earlier and more easily.

Older children also reap intellectual benefits from family dinners. For school-age youngsters, regular mealtime is an even more powerful predictor of high achievement scores than time spent in school, doing homework, playing sports or doing art.

Other researchers reported a consistent association between family dinner frequency and teen academic performance.

Adolescents who ate family meals five to seven times a week were twice as likely to get A’s in school as those who ate dinner with their families fewer than two times a week.

DOES A BODY GOOD CHILDREN who eat regular family dinners also consume more fruits, vegetables, vitamins and micronutrients, as well as fewer fried foods and soft drinks. And the nutritional benefits keep paying dividends even after kids grow up: young adults who ate regular family meals as teens are less likely to be obese and more likely to eat healthily once they live on their own.

Some research has even found a connection between regular family dinners and the reduction of symptoms in medical disorders, such as asthma. The benefit might be due to two possible byproducts of a shared family meal: lower anxiety and the chance to check in about a child’s medication compliance.

It isn’t just the presence of healthy foods that leads to all these benefits. The dinner atmosphere is also important. Parents need to be warm and engaged, rather than controlling and restrictive, to encourage healthy eating in their children.

But all bets are off if the TV is on during dinner.

In one study, American kindergartners who watched TV during dinner were more likely to be overweight by the time they were in third grade. The association between TV-watching during dinner and overweightness in children was also reported in Sweden, Finland and Portugal.

SOUL FOOD IN addition, a stack of studies link regular family dinners with lowering a host of high risk teenage behaviors parents fear: smoking, binge drinking, marijuana use, violence, school problems, eating disorders and sexual activity. In one study of more than 5,000 Minnesota teens, researchers concluded that regular family dinners were associated with lower rates of depression and suicidal thoughts. In a very recent study, kids who had been victims of

cyberbullying bounced back more readily if they had regular family dinners. Family dinners have been found to be a more powerful deterrent against highrisk teen behaviors than church attendance or good grades.

There are also associations between regular family dinners and good behaviors, not just the absence of bad ones. In a New Zealand study, a higher frequency of family meals was strongly associated with positive moods in adolescents. Similarly, other researchers have shown that teens who dine regularly with their families also have a more positive view of the future, compared to their peers who don’t eat with parents.

What’s so magical about mealtime?

In most industrialized countries, families don’t farm together, play musical instruments or stitch quilts on the porch. So dinner is the most reliable way for families to connect and find out what’s going on with each other.

In a survey, American teens were asked when they were most likely to talk with their parents: dinner was their top answer. Kids who eat dinner with their parents experience less stress and have a better relationship with them. This daily mealtime connection is like a seat belt for traveling the potholed road of childhood and adolescence and all its possible risky behaviors.

Of course, the real power of dinners lies in their interpersonal quality. If family members sit in stony silence, if parents yell at each other, or scold their kids, family dinner won’t confer positive benefits. Sharing a roast chicken won’t magically transform parentchild relationships. But, dinner may be the one time of the day when a parent and child can share a positive experience—a well-cooked meal, a joke, or a story— and these small moments can gain momentum to create stronger connections away from the table.

THE CONVERSATION

SOMEBODY wise once said that age is just a number and the Sunshine Place, a senior recreation center under the Felicidad Tan Sy Foundation, underscores that truism. The center encourages seniors to explore their creative side and keep healthy and happy via art and music online classes to help them enhance their skills and learn new things from the comfort of their home.

A therapy on its own, art classes are beneficial for the development of cognitive functions such as imagination, creativity, motor and analyzing skills.

Art lessens depression, anxiety and boredom. Art classes are one of the best ways to relax or relieve stress.

Create watercolor wonders and learn the art of calligraphy with Beth Robles of Playcrafts PH. She started scrapbooking and card-making as a personal hobby and started a page to initially de-stash some items. Since then, she has conducted watercolor, floral painting, and calligraphy workshops using different media such as watercolor, gouache, soft pastels and acrylic at the Sunshine Place.

Sunshine Place also offers acrylic painting in beginner and intermediate levels. Art Association of the Philippines president and acrylic instructor Fidel Sarmiento mentors sessions with hands-on techniques, application of different brushes and basic strokes, and color rendering.

Meanwhile, seinors can find their own voice under the guidance and instruction of the esteemed conductor/founder of the renowned UP Singing Ambassadors, Dr. Edgardo “Ed” Manguiat, who is conducting music and voice lessons for all ages at Sunshine Place online. Manguiat has collaborated with four National Artists—Lucio San Pedro, Bienvenido Lumbera, Virgilio Almario, and Ryan Cayabyab—either as composer or as lyricist.

The Sunshine Place continues to be a venue for adults to live actively by engaging in recreational classes and age-appropriate physical training programs. It is the venue to be entertained, socialize and reflect; a place of happiness and wellness for mind, body and soul.

More information can be had via www. sunshineplaceph.com, 0917-5155656 or online. sunshineplace@gmail.com.

Another new way to e-shop for busy parents

EVEN with Covid restrictions easing, the convenience of shopping from the comforts of home seems to have become a welcome habit to families. With all the juggling of work (at times even more than two jobs), home and even extended family responsibilities, forgetting something or needing something immediately has become increasingly commonplace.

It is good that there are now more solutions being offered by different e-commerce providers.

One of the new ones I discovered was Mymall, which can be downloaded from the Apple App Store or Google Play Store. It instantly connects you to a personal shopper that can go to your favorite mall.

Mymall (www.mykuya.com) is the Philippines’s first quick commerce company that concentrates on fulfilling orders extremely fast, often in 30 minutes or less. Though quick commerce start-ups such as Delivery Hero and Instacart are already thriving in markets abroad, Mymall is really the first of its kind in the Philippines.

It offers convenience for everyone since it offers personal shopping service from a variety of malls, such as SM Supermalls, Ayala Malls, Robinsons,

Waltermart, and many more. From there, it connects me to some of my must-visit stores, like Ace Hardware, Datablitz, Healthy Options, National Book Store, and SM Department Store, among others. With just a few clicks, customers can shop, pay, and get their items delivered to their doorstep in minutes.

“With Mymall, customers connect with a professional shopper that can pick up items from as many stores as they want,” said Shahab Shabibi, the cofounder of Mymall. “In one go, you can have a few groceries, and that bubble tea you’ve been craving for, picked up and brought straight to you. It’s really as if you went to the mall yourself, except you’re doing it from the comfort of your own home.”

Convenience and a wide range of options are not the only features that help Mymall stand out. Unlike other personal shopping or delivery apps, the service guarantees that there are no hidden prices or markups—the prices of the items are exactly as they are in stores. This stands in stark contrast to other apps where mark-ups are usually applied to items, often without the customer’s knowledge. Additionally, Mymall guarantees that users will only have to pay a single delivery fee for the app’s services.

According to Shabibi, Mymall’s low prices make the app truly for everyone to leverage. “The low prices mean anyone can benefit from Mymall. We will expand access to e-commerce so that everyone benefits from the convenience and safety of shopping online,” Shabibi said. “We’ve all had to get something from the mall at some point. Mymall gives all Filipinos another safe, efficient way to do that.”

Users of the service only have to pay for the regular store prices and there are many cashless payment options to pay for it—Visa, Mastercard, GCash, or

PHOTO BY BROOKE CAGLE ON UNSPLASH

PayMaya. These no-contact payment methods not only make for a convenient transaction but a safe one as well.

One Mymall user can readily testify to the app’s usefulness. In the case of Teresa C., a working mother of two, she uses the app to restock on much-needed grocery items. “Sometimes I’ll need an extra carton of eggs or additional multivitamins,” explained Teresa.

“With Mymall, I don’t need to lose time swinging by the mall, finding and paying for parking, standing in line at the checkout, or being in busy crowds.

With the service, I can have everything delivered quickly, saving me time. Finally, because the items and delivery fee are so much lower, I also save a lot of money.”

The app is new and I have just tried it, but what’s good is that even if the establishment is not in the list but is within the mall, the personal shopper will still run the errand for you. If you want to increase or decrease the quantity, you can just message them. If you forget something then suddenly want to add an item, as long as it is within your time and the personal shopper is still in the mall, they are quite flexible.

What I like the most is that I can send the exact photos or screenshot of the products I need since it has a camera and photo attach feature. The only downside is you have to send payment at checkout for each establishment, but I think this is where GCash comes in handy. Thank you, Roxanne Vargas (my personal shopper that day from Mymall).

B6 Thursday, March 10, 2022

Sunshine Place Online offers Wearable Art workshop

Aspiring doctors get financial support from Meralco, Pasig LGU

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PRUCE up your wardrobe this summer in a fun and unique way! Learn Shoes and Bag Acrylic Painting at Sunshine Place on Saturday, March 19, 2022 from 9:00 am-12:00 noon.

The Wearable Art workshop will be conducted by Beth Robles of Playcrafts Ph. She will guide participants through painting their own shoes and bags.

The results are truly stunning and the finished product will be a memorable keepsake. It’s the perfect way to show off your style and have an outfit that is not only stylish and unique but a true work of art.

Art kits consisting of acrylic paints, flat and round brush and watercolor paper are available at the Sunshine Place. Shoes and canvas bags are sold separately For inquiries and enrollment, please contact Sunshine Place at 0917-5155656

or email online.sunshineplace@gmail.com.

Visit its website: www.sunshineplaceph.com or follow facebook: Sunshine Place: Senior Recreation Center; IG@sunshineplaceph.

Savoy Hotel Mactan introduces breakfast buffray

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AT THE MOA SIGNING OF THE PROGRAM, FROM LEFT: OMF President Jeffrey O. Tarayao, Pasig City Administrator Atty. Jeron U. Manzanero, Meralco President and CEO Atty. Ray C. Espinosa, Pasig City Mayor Vico N. Sotto, Ateneo Professional Schools Vice President Dr. John Paul Vergara, and ASMPH Dean Dr. Cenon R. Alfonso.

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HE Manila Electric Company (Meralco) has partnered with the government of Pasig and Ateneo School of Medicine and Public Health (ASMPH) for a program that aims to provide financial support to aspiring doctors from the city.

Under the memorandum of agreement (MOA), five Pasig residents from financially challenged families who intend to pursue a five-year joint degree of Doctor of Medicine and Master of Business Administration at the ASMPH will receive a scholarship grant from One Meralco Foundation (OMF) and Pasig local government unit (LGU).

OMF, Meralco’s social development arm, will shoulder the scholars’ major expenses such as tuition fees and miscellaneous fees; while the Pasig LGU will pay their recurring expenses like uniform allowance, food and transportation subsidies.

“After successfully completing the course, they will return to Pasig City to serve in our public hospitals including the Pasig City General Hospital and the Pasig City Children’s Hospital or even in the Pasig City Health Department,” OMF President Jeffrey O. Tarayao said during the MOA signing held recently.

He added that the Meralco-Pasig

Scholarship Grant is a way to honor the exceptional sacrifices of doctors and healthcare workers, especially demonstrated during the pandemic, and encourage young people to take up medicine and serve communities in the country.

“We think that we can best begin this right in the very city where Meralco and the Ateneo School of Medicine are proud citizens, our very own Pasig City,” Tarayao said.

Through the scholarship grant, the Pasig LGU hopes to contribute to the strengthening of the Philippines’ public healthcare system.

“Infrastructure is important. Medicine is important. The supplies and equipment, they are all important. But at the end of the day, it’s about the people. If we have good people in government, in our public healthcare sector, working for our public healthcare system, then you know that our people will be in good hands,” Pasig City Mayor Vico N. Sotto said during the same event.

Ateneo Professional Schools Vice President Dr. John Paul Vergara acknowledged the importance of the scholarship program and pledged support

to the incoming scholars of OMF and Pasig LGU. “We are of course excited to work with the Pasig government and to bring more Pasigueños into our medical school and forge a meaningful and lasting partnership,” he said.

Meralco President and Chief Executive Officer Atty. Ray C. Espinosa, for his part, said: “Throughout the pandemic, we have witnessed the heroism of our healthcare workers and front-liners who have inspired many young Filipinos to pursue medical professions. Through this medical scholarship program, we hope to help deserving young Pasigueños achieve their ambitions while producing more doctors for our country’s needs.”

“We in Meralco are deeply honored to invest in our young people and to contribute to the improvement of public health in Pasig for many years to come,” he concluded.

Interested students may submit their applications until March 15, 2022, and will be given until May 16, 2022 to complete their requirements. For detailed application guidelines on the MeralcoPasig Scholarship Grant, visit: https:// www.facebook.com/100066291500027/ posts/290923109794070/.

Do your share to save water: Use Waterless Shampoo on your pets

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VERY year on March 22, the world observes “World Water Day.” It is an annual United Nations Observance that celebrates water and raises awareness of the two billion people who live without access to safe water. It is about taking action to tackle the global water crisis.

With the summer season just around the corner, it is important that we conserve as much water as we can. Even fur parents can do their share by using a product that will help you save on water.

Introducing Happy Life’s Waterless Shampoo, the first product of its kind in the Philippines which is 100 percent natural and pet friendly. It’s an innovative and

plant bath alternative to the chemicals that are usually found in shampoos for pets.

The product provides less effort and less time in every bath. It saves 70 percent of bath time every time you use Happy Life Waterless Shampoo. The product is perfect for a quick bath and for those on the go. You can still groom your pets even if you are in a hurry.

What’s nice about the product is that it helps relieve pets that suffer from skin and fur irritations such as but not limited to wounds, bad odor, itchiness, scaling, manage allergies, dandruff, hotspots, inflammation, ticks, fleas, mosquitoes, redness, viruses, bacteria and fungi.

Using the Waterless Shampoo is easy: 1. Shake and spray generously directly on your pet’s fur and skin from head to paws to tail. 2. Rub, lather and enjoy this special bonding moment with your pet. 3. Wipe dry with a clean towel and be amazed by the benefits you provided and the time that you saved.

The Waterless Shampoo is one of the many products developed by Happy Life Organics Philippines Inc., a Philippines based company that promotes innovative and eco-friendly solutions for your home, pets and unwanted pests.

Happy Life Organics provides all natural, sustainable eco-friendly solutions to homes across the country.

The company promotes a healthier lifestyle based on a plant based organic view and by bringing home and pet product alternatives that are changing and improving lives for the better.

For more information about Happy Life’s Waterless Shampoo and their other products, you can visit www. happylifeph.com, Happy Life Organics in Lazada, Shopee, FB and IG.

ISE and shine in the historic resort city of the South and give yourself the best time to experience ultimate comfort and unique breakfast setting at Savoy Hotel Mactan Newtown.

With so much to see and do in Mactan, Savoy Hotel Mactan will fuel your day through their delicious breakfast offering, as they set your cravings with their first-ever “breakfast buffray” available in the hotel’s in-room dining service.

“Buffray” means buffet in a tray, this is not an ordinary buffet as guest will experience extended comfort in Savoy Hotel Mactan’s deluxe room while indulging in delightful breakfast selections prepared by their talented culinary team headed by executive Chef June Fernandez.

Options include your choice of Filipino or Continental Breakfast at the rate of Php 800 NETT per person. Aside from that, guests may also enjoy 15 percent discount on all a la carte selections.

Continental Breakfast includes Ham, pork sausage, corned beef hash, pancake or waffles, cereals, fruits and yogurt served with baked potato and grilled tomato.

Filipino Breakfast: Pork Tocino, Corned Beef, Cebuano Chorizo and Boneless Bangus with a choice of plain or garlic rice For more information, you may contact us through +032 494 4000/ +63 917 871 8007 or email reserve@savoymactan.com. Follow its social media pages (Facebook, Instagram, YouTube) @savoymactannewtown/ Savoy Hotel Mactan Newtown.

FILIPINO BREAKFAST: Pork Tocino, Corned Beef, Cebuano Chorizo and Boneless Bangus with a choice of plain or garlic rice

PLDT, Smart, PayMaya top 57th Anvil Awards

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N a virtual ceremony held recently, PLDT and Smart bagged 21 awards, including citations of fintech unit PayMaya, and back-to-back Company of the Year honors. The group brought home two golds and 18 silvers for programs on brand communication, corporate social responsibility, employee engagement and financial inclusion.

The Anvil Awards has been conducted for 57 years by the Public Relations Society of the Philippines (PRSP).

PLDT and Smart received gold Anvils for COVID Warrior Communications Program, a multi-platform campaign to drive awareness and care for employees amid COVID-19; and Better Today Time Capsule

Project, which promotes the use of art for catharsis and mental healthcare.

Meanwhile, Silver Anvil awardees include brand initiatives—MVP Bossings and the Great Connections Podcast by FreeBee from PLDT Enterprise, and Smart Giga Study 360 video, Smart Prepaid’s This is Us, and BTS Passion and Purpose campaigns.

The group also bagged silvers for workforce initiatives and corporate advocacy programs.

PayMaya also got silver nods for I am PayMaya Town Hall, a cascade of latest corporate developments, directions, and performance; and The SAFEwork Playbook: a publication of pandemic and work arrangement protocols.

BKR Int‘l Worldwide holds first live board meeting

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ARYCRIS Oplas, Managing Partner of Alas Oplas and Co., CPAs and current Worldwide Vice Chair and Treasurer of BKR International, attended the face–to–face worldwide board meeting in Amsterdam, Netherlands.

“Despite the challenges of travel, the site visits for all the meetings have been carried out and planning for the regional and worldwide meetings is well advanced.

The theme for the meetings this year is

Your People, Your Future, which, is a really appropriate topic in the post-COVID era”, says Graeme Boake, Worldwide Chair.

BKR International is a leading international association of independent accounting and business advisory firms that represent the combined strength and market exclusivity of more than 160 independent accounting and business advisory firms in more than 500 offices and 80 countries.

MARYCRIS OPLAS (CENTER) AT THE BKR WORLDWIDE MEETING. With her are, from left: Tim Morris, CEO BKR International - UK; Arcangelo Agogliati - Italy; Ulrich Viefers - Germany; Executive Director Salvio Valenzuela – Philippines; current chair Graeme Boake -South Africa, Executive Director EMEA Alistair Bryant - UK; Manu Chadha - India, Chair Americas region Jeremy Vokt - Omaha; Chair Asia Pacific Subir Dotha - Kolkata; and Chair EMEA Andre Buijsman – Netherlands.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Prioritize cholesterol management through medicines to manage diabetes—expert

By Rory Visco

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Contributor

t was never a secret that those suffering from diabetes are among those who are highly vulnerable to getting Covid-19.

It was estimated that one out of 14 Filipino adults are diagnosed with diabetes. The International Diabetes Foundation (IDF), an umbrella organization composed of over 239 national diabetes associations in 170 countries around the world, said that the Philippines already has a total of 3.9 million cases of diabetes as of May 2020, a very alarming rate.

The IDF also projects that these numbers in the Philippines will increase further to 5.289 million adult diabetics in the Philippines by year 2030, with an estimated 7.267 million by year 2045.

Diabetes, being a chronic illness, already poses an increased risk in developing heart disease and stroke, and if left untreated, can cause other more serious complications like blindness, kidney and heart failure, loss of limb and reduce life expectancy.

And if one who is afflicted with diabetes also has unhealthy levels of cholesterol, the likelihood of suffering from cardiovascular dis-

eases (CVDs) will be most certainly happen. These disorders that affect the heart and blood vessels and are commonly characterized by the build-up of fatty deposits in the arteries called atherosclerosis that can lead to stroke and heart attack, account for 50 percent of deaths among persons with diabetes.

Fourth leading cause of death

In a 2020 census, the Philippine Statistics Authority (PSA) has recorded diabetes to be the fourth leading cause of deaths in the country. Given that diabetes is becoming more prevalent in all adult age groups and sex and with the imposing risk of cardiovascular death, the health-care community is encouraging patients with diabetes to prioritize cholesterol management.

“Cholesterol medication can greatly reduce the risk of heart attacks and stroke, making them an important part of diabetes care,” says Dr. Bien Matawaran, past president of the Philippine Society of Endocrinology, Diabetes and Metabolism and current chief of the Section of Endocrinology, Diabetes and Metabolism of the UST Hospital.

As a matter of fact, he said, studies have shown that proper lifestyle changes and medical treatment can greatly reduce cardiovascular events among patients with Type 2 diabetes mellitus by more than 50 percent.

Furthermore, Dr. Matawaran stressed that it should be made known that people with diabetes are never at low risk for cardiovascular disease, thus it is recommended to lower bad cholesterol by 50 percent, especially in those who have been diagnosed for at least 10 years, regardless of current or

baseline levels.

“We must encourage patients to consult their doctors and have that thorough discussion regarding their case of diabetes. By doing so, patients with diabetes are prescribed anti-cholesterol medication that can provide the desired bad cholesterol reduction and are given the timely support and care that they need.”

Single medication

According to Dr. Matawaran, some patients may be given a single medication while some may need a combination of cholesterol medications. “One form of medication are statins, which work by blocking a substance in the liver needed to make cholesterol thereby lowering bad cholesterol, increasing good cholesterol and lowering blood fats or triglycerides,” he explained.

Patients with persistently high triglyceride levels may also be prescribed with fibrates or omega-3 fatty acids (fish oils) along with the statin. Dr. Matawaran, however, emphasized that before taking any medication, it is important for diabetic patients to consult with their doctor regarding the appropriate treatment for their condition.

Dr. Matawaran further underscores that once medication has been given alongside the lifestyle interventions, it is very important that patients strictly adhere not just to the advised diet and exercise regimens but to stick as well to the prescribed medications and taking them as religiously as possible.

“Medication adherence is associated with improved outcomes, such as achieving good diabetes control, and even preventing mortality and morbidity,” he adds. To help practice medication adherence, he recommends patients to

take their medication at the same time every day and be reminded in doing this through a “medicine calendar.”

‘Be There’

This is also the reason why Viatris, a global health-care company, through its “Be There” campaign, is encouraging diabetic patients to manage their cholesterol levels and help reduce the risk of untimely death so they can “be there” to enjoy their family’s important milestones.

“At Viatris, we empower people to live healthier at every stage of life. We want to raise awareness on the complications of diabetes and help patients avoid the lifethreatening risks associated with it—that they can and should be able to enjoy their lives to the fullest despite their illness,” says Viatris Philippines Medical Lead Dr. Jermaine Lim. Through the campaign, partnering health-care professionals can educate and guide patients regarding proper cardiovascular risk reduction so they can properly manage their cholesterol levels on top of their overall diabetes care.

The campaign emphasizes that patients should always heed their doctor’s recommendation for lifestyle changes such as exercising, integrating a more heart-healthy diet, and most importantly, having the proper medication to lower cholesterol.

Finally, Dr. Lim extends this reminder to patients with diabetes: “It has never been timelier to have a conversation with your doctor about cholesterol management.

So, don’t hesitate to seek medical help so that you can continue to ‘be there’ with your family for the sweeter things in life.”

Vapes do not help smokers kick the habit–health exec

By Claudeth Mocon-Ciriaco

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n official from the Southeast Asia Tobacco Control Alliance (SEATCA) belied the claim of vaping supporters that heated tobacco products or electronic nicotine delivery devices are “switching products” that reportedly help smokers quit the habit.

“Sinasabi nila sa kanilang marketing na they want people to switch and that is supposedly also the same as quitting smoking, which is not really true. Ano po ang reality? The reality is that, there are many smokers when they try to quit smoking and use e-cigarettes, they’ve become dual users,” said Dr. Edgardo Ulysses Dorotheo, SEATCA Executive Director, in his message during a press briefing.

According to Centers for Disease Control and Prevention, dual use is when some people try to cut

back on smoking cigarettes or work toward quitting smoking completely by using electronic cigarettes (e-cigarettes), smokeless tobacco, or other tobacco products in addition to regular cigarettes. Dual use is not an effective way to safeguard health.

Dual user

Dr. Dorotheo even cited the recent news article of The Guardian which reported that the inventor of e-cigarettes, Chinese Pharmacist Hon Lik, became a dual user himself.

This is why, he explained, “vapes” will never be an effective cessation strategy, even for “switching.”

On the contrary, he warned the government that the vape bill is particularly “worrisome” because of the profile of vapers in the Philippines.

Citing the study of the Food and Nutrition Research Institute in 2018, Dr. Dorotheo said that 20 percent of the current vapers are

in their teens.

Pediatric problem

For her part, Dr. Rizalina Gonzalez, Philippine Pediatric Society said that “vaping is now also a pediatric problem.”

She said that she is disappointed when legislators claim that this is a “landmark bill” when in fact this is disastrous as it allows vapes to be attractive and accessible for more younger Filipinos.

Att y. Benedict Nisperos of HealthJustice Philippines, also corrected news articles which say that this is the first time the Philippines is regulating vapes and similar products.

“We have laws that have been passed by this same Congress in 2019 and 2020 which raised access to vapes from 18 to 2021 and restricted flavors to plain menthol and tobacco. The President even issued an executive order to ban im-

portation and use of the vapes in public places,” Nisperos said.

Republic Acts 11346 and 11467 were signed by the President in 2019 and 2020 while Executive Order 106 was issued shortly after. This happened right after the President said vapes are “toxic” and that they “kill” people.

“Legislators claiming that this vape bill is consistent with the public health legacy of the Duterte administration is simply twisting the true stand of this administration against smoking and vaping,” he concluded.

Nisperos, Dr. Dorotheo, and Dr. Gonzalez all appealed for the President to veto the vape bill as it is a danger to public health particularly the Filipino youth.

Earlier, seven former health secretaries, the Philippine Medical Association, and 50 other medical societies also called for the President to veto the vape bill.

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It takes a village to treat spine, brain tumors—CSMC

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HERE is no denying that the discovery of a tumor, whether in the brain or the spine, can cause anxiety and worry on anyone, or even unrest or turbulence in a family. And having a tumor in the brain or the spine can be absolutely terrifying for anyone, especially during this time of a pandemic, where even going out of the house can already be traumatic.

However, the search for a cure, even expertise or guidance to understand this ailment continues up to this day, given its physical and even mental implications, and a sure-fire way of treating it.

The best way is to create awareness, to inform the public about the value of having a “village” of medical experts with different specializations who will put their various expertise in treating brain and spine tumors.

And this is why Cardinal Santos Medical Center (CSMC), in collaboration with the Brain and Spine Institute, zeroed in on brain and spine tumors, its impact on both medical and psychological aspects, during its latest webinar titled “It Takes A Village to Save A Life: A Webicon on the Multidisciplinary Approach to Brain and Spine Tumor Management.”

During the event, CSMC’s medical experts from the Brain and Spine Institute, in a way, also demystified some common myths about brain and spine tumors and discussed the different types of treatments and ways to provide the best and most well-rounded medical care to a patient.

Signs and symptoms

According to Dr. Michael Louis Gimenez, Chair of the Brain and Spine Institute, a brain tumor, which is the abnormal growth of cells in the brain, can develop in any area in the skull.

There are over 120 types of brain tumors depending on origin and behavior and can be benign or malignant (cancerous). Among its most common signs are headaches, nausea, vomiting, vision problems, speech and hearing difficulty, arm and leg weakness, confusion and difficulty in balance. As for spine tumors, the most common signs include pain at the tumor site due to its growth, back pain, which can radiate to other parts of the body and is much worse at night, loss of sensation, muscle weakness in the arms and legs, and difficulty in walking, which can lead to falls.

“Most back pain is not caused by a tumor but for spinal tumors, it is best to see a doctor to seek early diagnosis and treatment, especially if the pain is persistent, progressive and mechanical, gets worse at night, and the family has a history of cancer,” Dr. Gimenez said.

A multidisciplinary approach

Meanwhile, Dr. Theodor Vesagas, Clinical Director of the Philippine Gamma Knife Center and CSMC Brain and Spine Tumor Center, said a multidisciplinary team approach to treating

Contributor

and expanding reach across communities.

ecent studies show that a cleft lip or palate patient is born in one out of 1,000 Filipino live births. A cleft lip is a physical separation of two sides of the upper lip while a cleft palate is a split or opening in the roof of the mouth. Without surgery, individuals born with a cleft lip or palate will struggle to eat, breathe, speak, and socialize.

Operation Smile, a nonprofit medical services organization, is dedicated to helping underprivileged children and young adults with cleft disabilities live better by providing reconstructive surgery and comprehensive care, free of charge.

While one cleft surgery can bring immediate transformation to a child’s life, Operation Smile is also committed to providing patients with health that lasts, offering additional surgeries, dentistry, psychological services, speech therapy, and other essential cleft treatments.

Oral care

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Building on 40 years of learning and success, Operation Smile is entering a new era as a global network driving access to high-quality health care. Providing safe, highquality cleft surgery and care for children requires strengthening local health systems, and this can be further solidified through reliable partnerships.

Funding, training

Since 1997, Johnson & Johnson (Philippines) Inc. (JJPI) has supported Operation Smile in the Philippines not only through regular funding, but also in the development and training of volunteers who actively contribute to the cause.

These include experts in the fields of plastic surgery, anesthesiology, dentistry, pediatrics, nursing, and speech pathology, among others.

“We at Operation Smile Philippines are fortunate to have Johnson & Johnson Philippines as one of

our longtime partners,” said the executive director of Operation Smile Philippines, Emiliano Romano.

“With their support, we were able to carry through with regular surgeries which we perform on about two to three patients each week in our centers, along with our Nutrition and Tele-Therapy programs. Before Covid-19, we would have around six local missions and two international missions which, when the pandemic struck, were no longer allowed.”

This year, JJPI reaffirms its commitment to Operation Smile in two ways.

First, through regular provision of kits containing different Johnson & Johnson products that help promote good personal hygiene.

Operation Smile also received a P1 million cash donation from JJPI for their program “Smile Together” which aims to increase awareness on oral care and speech difficulty, by enhancing children’s learning

Second, through mouthwash brand Listerine, JJPI is giving Filipinos a way to support Operation Smile while advocating the importance of good oral health. Listerine is partnering with one of the top drugstore retailers—Watsons. Through merchandising initiatives in select Watsons stores, more people can learn about Operation Smile’s efforts and contribute to the goal of improving the state of oral health of every child and family.

“It’s unfortunate that oral health knowledge is low across the Philippines. Many people think brushing alone is enough. However, it cleans only 25 percent of the mouth, leaving germs that cause various oral problems. Rinsing with a mouthwash like Listerine is recommended to protect from germs and keep your mouth healthy,” shared senior brand manager for Listerine Philippines, Miguel Gamboa.

Available for all

Dr. Tiambeng also debunked the common misconception that these treatments are available only to those who are well-off—in short, the rich and moneyed set.

“The Philippine Alliance for Brain and Spine Tumors is a foundation that is helping and has helped hundreds of patients get free treatments,” she said.

“There is also the Cardinal Charities Foundations, which helps indigent patients get big discounts or even free procedures.”

When asked how they could encourage Filipinos to seek medical advice over checking their symptoms on the internet, Dr. Tiambeng said, “The internet cannot treat you—Google cannot treat you— it can only give you information.”

Despite being a powerful tool in gathering information, a specialist’s intervention is still essential in treating any illness, Dr. Tiambeng emphasized.

“Always remember that here at Cardinal Santos Medical Center, you have a village of medical experts working hand in hand to save lives,” Dr. Gimenez concluded. Rory Visco

PLDT, Smart, Mental Health PH Twitter chat partnership reaches 8.6 million netizens

By Roderick L. Abad

Support continues to pour in for Operation Smile

tumors has benefits with regard to diagnosis and treatment so that patients will receive consistent and timely care, and generate patient satisfaction since patient care is managed by a team.

So why a multidisciplinary approach?

Dr. Vesagas said cancer, especially brain and spine, is complex. “With a team approach, any potential for chaos such as miscommunication and poor coordination, misunderstandings on both personal and professional levels are avoided.”

He also talked about Gamma Knife Radiosurgery, a four-step process and a painless procedure that can treat various types of cancer, and is only currently available at CSMC. “The goal of Gamma Knife Radiosurgery is to control or stop the growth of the tumor and allows for excellent control in the removal of tumors with minimal morbidity.”

Dr. Gilbert Rañoa, Training Officer of the CSMC Spine Fellowship Program, elaborated on other innovative open surgery treatment options available at CSMC such as Stereotactic Biopsy, where neurosurgeons use a needle to obtain tissue from the brain, as well as Awake Craniotomy, which can only be done if an intraoperative neurostimulator is available, and is used to remove tumors in more critical parts of the brain.

Finally, Dr. Ma. Luisa AbesamisTiambeng, Chair of the Cancer Institute, spoke about non-surgical tumor management, and also gave some reminders and practical tips to follow when one schedules a checkup for possible tumors.

“It is best to bring a companion who may help to remember things you may forget, take notes or the companion to do it for you, ask for written materials and have them repeated, contacts for further questions and assign a designated person when communicating with the doctor,” she said.

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HE #UsapTayo collaboration between PLDT, Smart and Mental Health PH has reached out to a significant number of netizens as it garnered over 8.6 million impressions on Twitter.

The conversations on Twitter centered on #UsapangSafety, highlighting how to be better digital citizens.

The program featured Sangguniang Kabataan youth leaders Councilor Levy Orcales from Baguio City, Cynth Nietes from Butuan City, Genise Delos Reyes and Christine Dizon from Tarlac City.

Dr. Jake Villanueva, a psychiatry resident from the National Center for Mental Health, also joined the conversation.

“Being better on the Internet means that we respect each other. We must set boundaries online, especially when we engage other people. The Internet is just like a public space where you’re not alone,” said Nietes.

“You must empathize with what others are going through. When we respect each other, we are making the Internet a safe space where it can be

an instrument of empowering people,” she added.

Powerful platform

FOR Dr. Villanueva, the Internet can be a healthy channel to start meaningful conversations on the web.

“A safe space on the Internet is where you can be yourself, where you can share your thoughts, feelings and experiences without being discriminated [against], abused, or harassed. It makes you feel empowered,” he said.

Mental Health PH’s #UsapTayo program is a regular tweet-chat about mental health, happening every zeroes (10th, 20th, 30th) of the month. It aims to zero the suicide cases and stigma against mental health.

PLDT and Smart, through the Better Today initiative, seek to enable the Philippines to contribute to the United Nations Sustainable Development Goals (UNSDG), particularly UNSDG #3 that stands for good health and well-being, and UNSDG #16 that stands against abuse, violence, and exploitation of children.

Their partnership formed part of the month-long efforts for Safer Internet Day that was observed last February 8.

TIGER OVERSHADOWS ALL

By Doug Ferguson The Associated Press

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ONTE VEDRA BEACH, Florida—Tiger Woods is going into the World Golf Hall of Fame with three others who no doubt will be overshadowed in the presence of a player who transcended the sport like no other.

Perhaps that’s only fitting.

It was like that every time Woods teed it up, from his “Hello, world” debut in Milwaukee in 1996 through his 15 majors and 82 titles on the Professional Golfers’ Association (PGA) Tour. Win or not, Woods was playing and it seemed everyone else was along for the ride.

Ernie Els might have summed it up as well as anyone in early 2000.

They matched eagles on the 72nd hole at Kapalua and birdies in the playoff. Woods beat him on the second extra hole with a 40-foot putt for his 18th win worldwide and fifth in a row on the PGA Tour.

Except for his age—24—Woods already had met current Hall of Fame requirements by then.

“He’s probably going to be bigger than Elvis when he gets into his 40s,” Els said that day.

Now he is 46, and Woods certainly will be the star attraction when he is inducted Wednesday night, even if it takes place in front of his smallest gallery—no more than 500 are expected for the ceremony at the PGA Tour’s new headquarters.

Making the night even more special is his 14-year-old daughter, Sam, will be introducing him.

Along for the ride are three-time US Women’s Open champion Susie Maxwell Berning, former PGA Tour Commissioner Tim Finchem and the late Marion Hollins, a US Women’s Amateur champion and the first woman to develop golf courses.

Finchem led the tour to unprecedented growth. If he was behind the wheel, then Woods was the engine. In an interview after he was elected, Finchem laughed when asked how his 22 years as commissioner would have been if Woods had played tennis instead.

“It would have been a much more difficult job,” he said. “Tiger coming on the scene...took our sport to another level. It continues on today. As a sport, we were blessed he didn’t like tennis.”

All of them earned their place. All will be honored. The living members will have a night to remember, even if the attention is squarely on one person.

Just like always.

“With no disrespect to anyone else, he should almost go in on his own,” Rickie Fowler said. “It should be his induction. It takes away, potentially, from the other three. Not a knock on Tiger being in the same class, but he is so much bigger. There’s a lot of ways to look at it.”

Padraig Harrington found one of those ways.

He recalls the time he received an honorary doctorate from St Andrews University before the 2010 British Open, an emotional night with 1,000 in attendance in Younger Hall. Even with two claret jugs among his three majors, not many were there to see Harrington.

Also receiving honorary doctorates that year were Arnold Palmer and Tom Watson, along with South African billionaire Johann Rupert, a hugely influential figure in international golf.

“It was a big deal to get an honorary doctorate, but it actually added to mine that they were there with me,” Harrington said. “Arnold did not take away from it. Johann Rupert added 100 percent to that occasion. The people getting in (the Hall of Fame), they’ll have a better day and a better story to tell.

“Maybe they won’t get the same media—or they could get more media because there will be more people covering it.”

Interest, no doubt, will be high for an induction that was bound to happen.

“I don’t know the criteria, but the man could have been in the Hall of Fame 15-plus years ago,” Ryder Cup captain Zach Johnson said. “It’s going to be a nice celebration for a guy who has taken the game to heights that most people didn’t know could happen.”

Based on the criteria when Woods turned pro in 1996—the PGA Tour ballot required 10 victories and two

majors (that included The Players Championship)—he would have met the performance standards at the 1999 PGA Championship after just three years on tour.

In his next 18 starts on tour after that, he had 10 wins and two majors.

Woods compiled ridiculous numbers while going through four swing coaches and twice as many surgeries.

“Tiger changed people’s perception of golf from a game to a sport,” Harrington said.

The shame is that more people can’t attend the induction ceremony, a product of limited space at PGA Tour headquarters (and $1,000 a ticket for a Hall of Fame fundraiser).

The future of the World Golf Village, about 25 miles away in St. Augustine, is in doubt with so little traffic.

Johnny Miller and Nick Faldo shared the stage when the World Golf Village first hosted the induction ceremony in 1998.

Over the years, no one else captured Tiger’s share of attention.

Bernhard Langer and Ben Crenshaw went in together in 2002, Nick Price and Annika Sorenstam a year later, Curtis Strange and Se Ri Pak in 2007.

Even the year Phil Mickelson was inducted, no one entertained that night like the late Peter Alliss.

And when one player clearly stood out over the other inductees—Karrie Webb in 2005, Els in 2011—that gap wasn’t as large as it will be with Woods.

He’s had the stage to himself for as long as he has played. The Hall of Fame is no different.

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ORSOGON CITY—All eyes will be on Philippine Navy-Standard Insurance with George Oconer sporting an imaginary target on his back when the 11th LBC Ronda Pilipinas kicks off with Stage 1 on Friday at the Sorsogon Provincial Capital.

Stage 1 of the Ronda is composed of what could be considered as two half stages with a 12.40-km individual time trial set at 8 a.m. and a 58.50-km team time trial flagged off at 1 p.m.

The Navymen arrived here on Monday to familiarize with the opening routes, along with the 14 other teams entered in the multi-stage domestic race that hibernated for one year because of the Covid-19 pandemic.

“I have a strong chance [of defending our title],” said the 30-year-old national cyclist Oconer.

“We trained so hard for this race.”

Oconer is the reigning general classification champion while Philippine Navy-Standard Insurance is the team titlist, achievements the squad accomplished with a flourish in February 2020.

Joining Oconer is team captain and former Ronda champion Ronald Oranza, ex-Le Tour de Filipinas titlist El Joshua Carino, Ronald Lomotos, Junrey Navarra, Jhon Mark Camingao, Esteve Hora and Jeremy Lizardo.

National Team Coach Rienhard Gorantes will again mentor the

Navymen, who are also supported by chief mechanic Dante Valdez and masseur Stanilo Benito.

Most of the Navymen are also members of the national team and have the advantage of having continuously trained during the two-year pandemic—either as a

THE Philippine Navy-Standard Insurance team—George Oconer, Ronald Oranza, El Joshua Carino, Ronald Lomotos, Junrey Navarra, Jhon Mark Camingao, Esteve Hora and Jeremy Lizardo—are ready to defend their crowns.

ONE: X show stoppers LAST week we talked about the star attractions of ONE: X, ONE Championship’s super big event for 2022 that celebrates its ten years of existence in the MMA universe.

This week we’re looking into the attractions closest to our Pinoy hearts: the blockbuster match-ups involving our Pinoy heroes and heroine: Eduard Folayang, Lito Adiwang, Jeremy Miado and Denice Zamboanga.

So much hype has already been heaped on ONE: X, it being a spectacle of hard-hitting and intriguing match-ups.

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| Thursday, March 10, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NOW 46, Tiger Woods certainly will be the star attraction when he is inducted into the World Golf Hall of Fame. AP

NAVYMEN MARKED MEN

By Josef Ramos

Sports BusinessMirror

The most lethal knockout artists, it is said, will see action in the event, with explosive Igorot MMA star Lito Adiwang taking on the high-riding Jeremy Miado, for one.

It is a rare match-up to be sure. Pinoy vs. Pinoy is a rare occurrence in the ONE Circle, with the last one in memory being Joshua Pacio vs. Rene Catalan in 2019. Lakay former ONE Featherweight World Champion Honorio Banario tangled with compatriot Eric Kelly in 2013.

This 2022 version is particularly interesting because besides the head-on collision of the high-spirited Adiwang and the bull-strong and currently surging Miado, the encounter could also very well be a battle of training camps.

Adiwang belongs to the fabled Team Lakay of Baguio City that has been part of ONE’s stellar cast since it began almost 11 years ago. Miado who ran his own gym in the past now trains out of Marrok Force in Bangkok, Thailand, and since then has been nothing short of unstoppable.

Adiwang is exciting to watch because he is fearless, utterly kinetic, and unforgiving once he’s let loose in the Circle. Miado is tenacious, calculating and packed with powerful punches.

Miado is 29. Adiwang will have just turned 29 on the day of their fight. He celebrates his birthday on March 23. As

WITH ALL HIS MIGHT The US’s Thomas Charles Walsh competes in the men’s super-G group or as individuals on rollers.

The Navymen, backed by Standard Insurance Group Chairman Judes Echauz, expect a tough challenge from continental team Go For Gold of team principal Jeremy Go and Coach Ednalyn Hualda and Excellent Noodles, which is backstopped by former Ronda winners Santy Barnachea and Jan Paul Morales.

Also vying for the total cash pot worth P3.5 million—the individual champion will again earn P1 million— are Philippine Army, Team Nueva Ecija, Dreyna, Eagle Cement, Champ Café, Bike Kings Laguna, Vantage Ilocos Norte, VPharma, Team Quezon Province and Team Ilocos Sur. Stage 2 will cover 163 kms from Sorsogon to Legazpi City on Saturday and Stage 3 189.1 kms from Legazpi to Daet on Sunday. They will be followed by the 212-km Daet-Lucena Stage 5 on Monday and 157.4-km Lucena-Tagaytay Stage 6 on Tuesday.

After a one-day break, the race will proceed with the 180.4-km Tarlac-Baler Stage 7 on March 17, 174.4-km Baler-Echague Stage 8 on March 18, 193.2km Santiago; Isabela-Baguio Stage 9 on March 19 and the Baguio City Stage 10 criterium on March 20.

Barnachea, 47, and Morales, 36, have a combined five Ronda titles— Barnachea in 2011 and 2015 and Morales also twice in 2016 and 2017.

standing at the 2022 Winter Paralympics in Beijing’s Yanqing District. The Paralympics are halfway through. AP

Olivarez Cup marks tennis comeback

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OCAL tennis action returns after a two-year hiatus with the Palawan PawnshopPalawan Express Pera Padala (PPSPEPP) Olivarez Cup Open next week at the Olivarez Sports Center in Sucat, Parañaque City.

Multi-titled and many-time national team spearhead Jeson Patrombon, young Jed Olivarez, durable Johnny Arcilla along with Vicente Anasta, Josshua Kinaadman, Mark Alcoseba, Norman Enriquez and Noel Damian, Jr. make up the merry mix of aces all geared up for a spirited battle for top honors in the weeklong championship.

The long layoff only makes the title chase doubly exciting with the 32-player cast staying fit through regular training and workout in the run-up to the staging of the event in new normal following the lowering of Covid-19 alert levels in the country.

Safety and health measures, meanwhile, will still be strictly

they say it in Pinoy game circles: “match na match.”

Another bout begging to be watched is the sequel to the September 2021 clash between Denice “Lycan Queen” Zamboanga (formerly called “The Menace”) and South Korean Ham Seo Hee, touted to be the female version of Wanderlei “The Axe Murderer” Silva because of the similarities in their fighting styles.

We all know how that panned out – with Denice being reduced to tears in the post fight presscon because the judges gave the deciding nod to Ham, whom the Pinay fighter said she had managed to overpower in the closing ticks of the last round. ONE Championship chairman and CEO Chatri Sityodtong even intervened and elevated the match to the ONE competition committee for review, but in the end the judges’ decision was upheld.

Well, this time, we get to see who really is the superior martial artist between the two. “I’m okay now and I’ve moved on from that decision. I’m using that to push myself to train more,” Denice said, adding that “the match will be a stepping stone for me to finally be given a chance to challenge the champion”.

The ONE: X winner could next fight the winner of the Angela Lee-Stamp Fairtex world atomweight title fight.

Lastly, all eyes will be on iconic Pinoy hero Eduard Folayang, two-time ONE Lightweight World Champion

enforced during the conduct of the tournament put up by the PPSPEPP in its continuing effort to help develop the sport and discover talents who could be tapped and trained for future national teams.

Also vying for the top P30,000 purse in men’s singles are NJ Enriquez, Leander Lazaro, John Altiche, Rolando Ruel, Jr., Gabriel Tiamson, Stefano Gurria, and wild cards Luis Asistio, Axi Gonzaga, Rey Pascua and Aslan Carbonilla.

Four others will join the cast from the qualifying phase on March 14 and 15 with the tournament proper firing off March 16.

Also on tap are the men’s doubles and the Legends 30s, 40s and 50s divisions with Dunlop, Rep, Eric Olivarez and the Olivarez Sports Center supporting the event.

Anasta and Patrombon and Arcilla and Kyle Dandan, meanwhile, banner the doubles’ field that includes the pairs of Olivarez and Pascua and Damian and Lazaro.

and pride of the Cordilleras who has been given a most intriguing assignment: be the opponent of Muay Thai legend John Wayne Parr on his retirement fight.

Going up against a legend on his last battle is a task loaded with big emotions. It will be another uphill battle for the Lakay warrior, who is chasing a second coming in ONE after losing his recent fights, some of them in just unlucky fashion.

Folayang has to swim against the tide of send-off sentiments for a retiring legend and also navigate his way in the art of eight limbs. Although he has solid kickboxing roots, playing under Muay Thai rules where the 8-point striking system adds the use of elbows and knees to the use of just kicks and punches is a new challenge to the unwavering warrior.

But Folayang, the only ONE fighter still active after ONE’s inaugural fight, Champion vs. Champion in 2011, is not fazed by the challenge.

Folayang thrives on challenges. “Fighting a legend before he retires is a big honor. I enjoy the challenge as a martial artist. The bigger the challenge, the more we are being pushed. I will be fighting him in his territory. We’ll see how fast we can adjust in fighting Parr in his sport.”

“The best is reserved for those who persevere,” he said.

“It’s not yet over. There’s still a lot to be showcased.”