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Neda pitches 4-day workweek to cut fuel costs B C U. O @caiordinario

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NTRODUCING a four-day workweek will help conserve energy and reduce the costs on fuel and transportation, according to the National Economic and Development Authority (Neda). This was one of the recommendations made by the Neda to the Cabinet on Tuesday night and aired on Wednesday. This does not mean, however, that workers will see a reduction in the number of hours they will work every week—apparently to avoid cutting their take-home pay at a time when cost of living keeps rising.

Socioeconomic Planning Secretary Karl Kendrick T. Chua said workers will still work 40 hours a week but instead of clocking in eight hours a day, they will put in 10 hours of work per day. “Ginawa po natin ito noong 1990 sa Gulf War at iyong 2008 ’yung nagtaas po ’yung presyo ng langis. At ang epekto po nito ay makakatipid din [This was done in 1990 during the Gulf War and in 2008 when there was an oil price spike. The effect will be lower costs],” Chua said in a televised briefing. “Imbes na araw-araw nagco-commute ay magiging apat na araw. At ito ay makakatulong din sa pag-manage ng ekonomiya natin [Instead of com-

muting five days a week, workers can just go to work for four days. This will also help us manage our economy],” he added. Former Labor Undersecretary Rene E. Ofreneo said this proposal of a compressed workweek is not new. The Department of Labor and Employment (DOLE) has already discussed this before. But the measure has pros and cons. He agreed that this will allow workers to save on transportation and for those capable, can opt to get additional work outside their current employment. Another advantage, as Chua was saying, is reduced energy consumption. In offices, Ofreneo said.

But for those working from home—currently the situation of many workers—this measure will have zero impact on them. He added that working 10 hours a day could also have a negative impact on workers’ health, specifically mental health. “Mas mabuti pa kay Karl Chua, [magbigay] siya ng mas mainam na policies para sa labor, halimbawa suspension ng excise taxes on oil products and even VAT kapag lampas sa $80 per barrel ang oil [It is better for Karl Chua to provide better policies for the labor sector such as the suspension of excise taxes on oil prodS “N,” A

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PALACE NIXES TAX HALT, OKAYS P33.1-B CASH AID ■

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ENDING off calls to suspend excise and value-added taxes (VAT) on fuel amid soaring oil prices, the Department of Finance (DOF) recommended—and President Duterte approved—the grant of an additional P200 per month or P2,400 per year in unconditional cash transfers to each household belonging to the poorest 50 percent of the population.

The approved option means a bill of P33.1 billion to help poor households cope with the effects of the rising fuel prices. Meanwhile, effectively putting an end to speculation of whether he will call a special session of Congress, Duterte decided to retain the excise tax for petroleum products despite calls from lawmakers for its suspension to help reduce oil pump prices. Under the new UCT, beneficiaries from “the bottom 50 percent of Filipino households” will be given P200 per month or a total of P2,400 per year subsidy. “This was approved by the President last night [Tuesday],” Acting Presidential Spokesperson Martin M. Andanar said during a virtual press briefing on Wednesday.

Cost of suspension

AT Duterte’s public address Tuesday night, Finance Secretary Carlos G. Dominguez III reiterated the excise tax suspension will cost the government P105.9 billion worth of revenues this year. Without the significant chunk of income, he said, the government will be compelled to borrow more to maintain its existing programs, raising its deficit-to-GDP (gross domestic product) ratio to 8.7 percent and debt-to-GDP 61.4 C  A

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A STORE clerk restocks shelves at a grocery store in Manila. Prices of canned goods and other commodities have gone up along with the recent spikes in fuel costs. NONIE REYES

@sam_medenilla

URTHER easing of minimum health standards in Metro Manila and other Alert Level 1 areas will no longer be possible until the entire country is able to meet their vaccination targets, according to the Department of Health. In a virtual press briefing on Wednesday, Health Undersecretary Maria Rosario S. Vergeire explained that a requirement for the declaration of Alert Level 0 or the so-called “new normal” is for all the regions, cities and municipalities to be placed under Alert Level 1. “When we talk about the next [lower] level after Alert Level 1, it will not be per area, but for the entire country,” Vergeire said. Under the Alert Level System of the InterAgency Task Force for the Management of Emerging Infectious Disease (IATF), an area is classified from Alert Level 1 to 5, with 1 having the lowest Covid-19 public health risk, and 5 having the highest risk. Among the requirements for an area to be placed under Alert Level 1 is for 70 percent of its target population and 80 percent of its senior citizens to be fully vaccinated against Covid-19. The healthcare utilization for the said areas should also be less than 50 percent and its infection cases should also be at a “manageable” level. “Once we achieve this for the entire Philippines, we can talk about the easing of restrictions and refocusing of our resources where it will be necessary,” Vergeire said. Currently, only Metro Manila and 47 other areas in the country are under Alert Level 1, while the rest of the country is placed under Alert Level 2. The latest list of Alert Level classification will last until March 2, 2022. Business leaders are pushing for the implementation of the “new normal” in the country since it is expected to boost business confidence.

DUTERTE: STOPPING E-SABONG MEANS LOST INCOME, MORE ILLICIT TRADE

RESIDENT Duterte cautioned lawmakers against calling for the suspension of “e-sabong” (online cockfighting) activities, saying this could cost the government billions of revenues and lead to an increase in illegal activities. In his public address late Tuesday, which was aired on Wednesday, Duterte urged members of Congress to consider the impact of the suspension on the government’s funds. “My appeal to congressmen is to not meddle in it since it continues to earn. Nobody benefits from it but Pagcor [Philippine Amusement and Gaming Corp.] and of course the big players, who do not belong to the poor,” Duterte said. Several lawmakers—the Senate even adopted a resolution—are calling for the suspension of e-sabong operations after 34 people linked to e-sabong disappeared, apparent victims of abductions. Senate President Vicente Sotto III led the call

to halt e-sabong operations until a “satisfactory” resolution of such enforced disappearances is attained. On Tuesday, Duterte said: “So I will have to choose if we will lose income by the billions or allow it. It is such a waste. We are short of money.” Pagcor Chairman and Chief Executive Officer (CEO) Andrea D. Domingo said since they started regulating e-sabong in April last year until December 2021, the government was able to collect around P3.7 billion worth of taxes and fees from eight licensees. From January to March 15, 2022, Pagcor earned around P1.7 billion from seven of the remaining e-sabong licensees. “Based on our analysis and projection, it [e-sabong revenue collection] could reach P7.2 billion to P8 billion this year,” Domingo said. Duterte also said any attempt by the government through Pagcor to ban e-sabong

will be futile, since some unscrupulous people will continue with it with or without government authorization. “Whether I order for the closure of e-sabong, it will just be replaced with those, which are illegal,” Duterte said. Domingo also voiced the same concern, saying that stopping e-sabong will require local government units (LGU) to ban live-streaming or the use of cameras in traditional cockpits. Currently, she said, they continue to get numerous reports of illegal e-sabong activities. “Last week, we were able to report to the DICT [Department of Information and Communication] 100 IP [internet protocol] addresses of illegal sabong to be taken down,” Domingo said. “But after three days we were able to detect even more [illegal sabong cases],” she added. Samuel P. Medenilla

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BSP chief Diokno: PHL economy will grow faster than its debt

B C U. O

@caiordinario

ESPITE the country’s aggressive borrowing during the pandemic, the Central Bank Governor remained confident the Philippine economy can still outgrow its debts. In a plenary session at the Southeast Asia Development Symposium (SEADS), Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the country’s current debt is composed of 70 percent local and 30 percent foreign debt. This year, he said, the economy is expected to grow 7 to 9 percent, outpacing the growth of its debts, of around 2 percent this year. “The thing to do is to outgrow your debt, and we expect the economy to grow much faster than the growth in our debt. And so that’s the way we will outgrow our debt. As I said, this year we expect to grow at 7 to 9 percent and our debt will not grow that much, maybe 2 per-

cent,” Diokno said. Diokno expects the economy to perform well this year because the country “did not sit by” and wait for the pandemic to recede before acting on much-needed reforms. He cited some of these reforms—the Retail Trade Liberalization Act, the Public Service Act, and the Foreign Investment Act—which he said will significantly improve the country’s efforts in attracting foreign capital. The BSP chief also said the country’s reserves remain significant at 10 months worth of imports. Usually, the accepted doctrine is for the economy’s foreign reserves to be equivalent to three months of imports.

The Philippines’s exports, the earnings from sectors such as the Business Process Outsourcing (BPO), and OFW remittances help ensure the country has ample reserves and growth drivers. “I’ve seen it before in previous crises, whenever there is a crisis in the Philippines we run out of foreign exchange to service our foreign debt. That’s no longer the case,” Diokno said. “The receipts from the business process outsourcing [firms], our exports are doing fine. And as I mentioned earlier, our foreign direct investments were at its highest. There’s a lot of confidence in the Philippines as an investment destination,” he added. Diokno stressed that Overseas Filipino remittances were “fairly resilient.” Despite analysts predicting that remittances would decline in double digits due to the pandemic, the decline was only 0.7 percent. Based on latest BSP data, cash remittances coursed through banks registered a 2.5 percent growth to $2.668 billion in January 2022 from $2.603 billion in the same month last year. Bigger receipts from land-based and seabased workers, which rose by 2.9 percent to $2.103 billion and 1.2 percent to $565 million, respectively, were credited with the expansion

in cash remittances. “There is an altruistic side to the Overseas Filipino: remittances. Filipinos abroad tend to send more money to their families here in the Philippines. Whenever there is a problem, they can sense the problem they send more,” Diokno said.

Monetary policy

MEANWHILE, the most important lesson he learned in the pandemic was that monetary policy could not solve everything. He said the pandemic—the “challenge of the generation”—required greater coordination and collaboration among stakeholders. He said international cooperation and coordination helped the Philippine response to the pandemic by way of the vaccines. Diokno thinks if the country was not able to borrow funds from institutions like ADB to purchase vaccines, the Philippines would be worse off now. Last month, Central Bank’s Financial Stability Report for the Second Semester of 2021 stated that while the improving economic environment is a “welcome turnaround” from the “bleak” figures earlier in the pandemic, Covid’s economic impact on the poor and vulnerable

sectors will not be easily reversed, as they were disproportionately hit. The BSP cited indications that affected households withdrew from their bank deposits to supplement their income in the pandemic. The BSP also said a separate study showed that those living on government aid still had to draw from their savings for their daily expenses. The Philippine economy grew 7.7 percent in the last three months of the year, beating market expectations. The fourth quarter growth took the full year gross domestic product (GDP) expansion to 5.6 percent, beating the government’s target for the year. The BSP cited in its report that in order to prevent the poor from getting poorer in the coming years, stronger accessibility for the vulnerable to public health is key. This includes access to hospital beds, vaccine shots and medical supplies for the poorer sector of the economy. The Central Bank report also said purchasing power—particularly to the vulnerable— needs to be enhanced. The BSP also flagged the potential aversion of the economy to face-to-face manual labor, as the country shifts to more technologically advanced processes to avoid interaction.

PALACE NIXES TAX HALT,OKAYS P33.1-B CASH AID C  A

percent—both above the government projections. Likewise, he said the excise tax suspension will mostly benefit the rich, who make up 50 percent of fuel consumption. “What we should do instead, I think, is to provide targeted relief to the most vulnerable sectors of our society and we will fund that from the higher VAT [value added] taxes—which we will collect because the fuel prices are going to be higher,” Dominguez said.

Rising prices

DUTERTE called on the government economic cluster on Monday amid the growing clamor from Congress for government intervention to address the rising oil prices. Department of Energy (DOE) data showed that from January 1 to March 1, 2022, gasoline prices per liter registered a 34-percent net increase. For diesel, it was a 65-percent increase in the same period, for kerosene it was 48 percent and for liquefied petroleum gas (LPG), 11 percent. Energy Secretary Alfonso G. Cusi attributed this to the shortage of fuel supply in the Middle East as well as the ongoing war between Ukraine and Russia. But he noted they anticipate fuel prices in the world market to drop next week on two grounds: China announced lockdowns to contain the spread of (Covid-19) which means less oil demand from the Asian giant; and the ongoing talks between Ukraine and Russia.

Inflationary increases

THE soaring fuel prices prompted public utility vehicle (PUV) drivers to demand for a fare hike and for labor groups, a minimum wage adjustment. The National Economic and Development Authority (Neda) expressed concern over such and wage increases, which it noted could worsen the country’s inflation by 1.4 percent. “This will bring inflation beyond the target and will hurt all Filipinos,” Socioeconomic Planning Secretary Karl T. Chua said in his presentation to Duterte. Chua backed instead the UCT pitch of DOF and the ongoing fuel subsidies for PUV drivers, farmers and fishermen to help minimize the impact of high fuel prices to consumers. He also echoed Cusi’s recommendation to encourage companies to implement a 4-day workweek and work-from-home arrangements to help minimize fuel consumption.

Wage subsidies

TO help companies, particularly the micro, small and medium enterprises (MSME) cope with the impact of the high fuel prices, the Department of Labor and Employment (DOLE) recommended the distribution of a P24-billion wage subsidy. “Our proposal is to have it form part of the payroll of the employers, sort of incentivizing newly reopened enterprises, particularly MSMEs, and for saving and protecting jobs in the recovery process,” Labor Assistant Secretary Dominique R. Tutay said in a Viber message. The subsidy is expected to benefit 1 million workers for three months.

The wage subsidy is currently being studied by the Office of the President.

Board members

DOLE also sought the appointment or reappointment of the employers and worker’s representatives of the National Wages and Productivity Commission (NWPC) and Regional Tripartite Wages and Productivity Boards (RTWPB). Labor Undersecretary Benjo M. Benavidez said the NWPC and the RTWPBs have vacancies, which slows their processing of existing wage petitions. Currently, Tutay said there are eight wage petitions, pending in six RTWPBs.

UCT details

IN his presentation to the Cabinet and President Duterte, Finance Secretary Carlos G. Dominguez III said the government needs P33.1 billion to provide the unconditional cash transfers for one year to 12 million households or around 70 million people. To fund this, Dominguez said they eye using the extra money the government will collect from higher VAT collection on fuel as oil prices soar. Based on their estimates, DOF expects an additional P20.3 billion in VAT if the fuel price is at $100 per barrel; P26 billion if it is at $110 per barrel; P31.8 billion if it’s $120 per barrel; ; P34.6 billion if it is at $125 per barrel and P37.5 billion if it is at $130 per barrel. “So this is the extra money that we have not yet allocated. So our recommendation, Mr. President, is to use this extra tax money to subsidize the poorer sections, the poorer people in our society, okay. So we think that we will—the average price might be around $110 per barrel for the year, therefore we will have an additional P26 billion to distribute directly,” he said during President Duterte’s Talk to the People on Tuesday night which was aired on Wednesday morning. However, Dominguez was also quick to admit that this additional financial assistance is insufficient. “Mr. President, we realized that this is not enough but this is what we can afford as of this time. And to make sure that our finances, going forward and especially for the next administration are still going to be healthy, this I believe is what we can afford,” he said. The government expects to collect a total of P147 billion from excise tax and VAT on fuel this year, of which P131.4 billion will come from fuel excise tax and P15.8 billion, from VAT on fuel. Dominguez said suspending the fuel excise taxes and VAT on fuel will affect the implementation of different government programs and expenditures, including the Build, Build, Build program and the salaries of government employees. Moreover, he said those who will benefit the most from the suspension of fuel excise tax and VAT are the top 10 percent of income earners in the country as they consume almost 50 percent of all the fuel. “So cutting the tax will benefit more the people who have cars and the other richer people. We will not be benefiting so much the bottom 50 percent of our population, that will make it very inequitable,” he said.

Neda...

C  A

ucts and even VAT if oil prices exceed $80 per barrel],” Ofreneo told the BM in an e-mail. Chua, he added, “can also recommend the repeal of the CREATE law because you need to tax people and firms based on capacity to pay, meaning you have to discard the notion that when you allow the rich to get richer, they will invest more and make everybody happy.” De La Salle University economist Maria Ella Oplas does not support a four-day workweek because it will drain employees. While the country may save on energy and transportation costs, employees will be drained. She said this may also be bad news for workers who are looking for additional sources of income. They will not have the time to do part-time work during the week if they need to be in the office for 10 hours the rest of the week. “I am not for the 4-day workweek proposal. Most especially making work duration longer from 8 hours to 10 hours. It will have an implication on our health and mental state. It may minimize use of energy given the 1 free day but it will only be transferred to consumption of people at home since more will be staying home,” Oplas told the BM. Oplas instead recommended that the government consider allowing workers to work four days a week on site and allow them to work from home one day of the week. Another option is to delay the start of the working day to save on energy costs, Oplas said, citing studies that processing of energy is cheaper at night, thereby reducing costs. Meanwhile, Action for Economic Reforms (AER) Coordinator Filomeno Sta. Ana said work-from-home arrangements are better for jobs, firms or industries where it is suitable. The suitability of a 10-hour workday is highly contextual to the industry, he said, adding that the impact of a 10hour work day on productivity “is an empirical question.” “Depends on the nature of the job and the technology. It cannot be a one-size-fits-all approach,” Sta. Ana told the BM on Wednesday.

Tesdaman backs proposal

MEANWHILE, the chairman of he Senate Labor committee endorsed Wednesday the “4-day workweek” option. Sen. Joel Villanueva affirmed that “implementing flexible working arrangements like working from home is one of the best interventions that the government can do because it protects productivity for businesses and workers’ welfare while cutting fuel consumption.” In a statement Wednesday, the senator reiterated his call for the Department of Labor and Employment to “work with businesses for the full implementation of the Work From Home Law,” which was enacted back in 2018. He reminded that “the Work From Home Law [WFH] has been relevant even before the pandemic started, as skyrocketing fuel prices is one of the main reasons why we pushed for this to become a law,” adding that “we have yet to see the end to the problems of traffic and high price of fuel, and WFH is one way for industries to adjust and cope.” Earlier, Villanueva filed Senate Bill 153 to allow businesses to implement alternative work arrangements, such as a reduction of workdays, adding that under the proposed amendment to the Labor Code, businesses can implement alternative work arrangements as long as total work hours per week shall not exceed 48 hours, and follow rules governing overtime pay, night shift differential, and other related benefits. He adds that other examples of alternative work arrangements include a compressed workweek, rotation of workers within the workweek, flexible holiday schedules, and flexible time, assuring that he is also set to push passage of an enabling bill into law. With Butch Fernandez

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Filipina NYC hate crime victim in stable condition

HE 67-year-old Filipino woman who was seriously injured after she was brutally assaulted in an anti-Asian hate incident in New York is in stable condition and could be discharged from the hospital anytime, the Philippine Consulate General in New York said on Tuesday. Consul General Elmer G. Cato said the Consulate was informed of this development by the family of the victim, a dual citizen from the Ilocos Region, who sustained serious injuries to the head and face after she was savagely attacked inside her apartment building in Yonkers, on Friday. “We have reached out to the family of our kababayan and assured them that we will assist in whatever way we could,” Cato said. On Tuesday, Consul General Cato joined leaders of the Asian-American Community and local elected officials in a news conference outside the Yonkers City Hall where they expressed their outrage over

the incident and called on authorities to do more to stem the rise in anti-Asian hate crimes. Those present included leaders of the Asian-American Federation, the Asian-American Democratic Committee, and local officials led by Congressman Jamaal Bowman and Yonkers Mayor Michael Spano. “We know authorities are doing their best to make the streets safe again but we also understand they could not be everywhere,” Consul General Cato said. “But we do hope that authorities exert more efforts to remove violent and dangerous people off the streets and make everyone—not just Filipinos or other members of the Asian-American Community—feel safe again.” The Consulate has recorded 26 cases involving violent attacks and other incidents against Filipinos since last year when a surge in antiAsian hate crimes and other incidents was noted.

Editor: Vittorio V. Vitug • Thursday, March 17, 2022 A3

DOJ chief: No basis yet to probe Leni’s ties with communist terrorist groups

By Joel R. San Juan

@jrsanjuan1573

HE Anti-Terrorism Council (ATC) is ready to act if groups aligned with terrorist groups like the Communist Party of the Philippines-New People’s Army (CPPNPA) will resort to terroristic activities in the guise of exercising political rights during the election period. Justice Secretary Menardo Guevarra issued the statement following reports of possible alliance between the camp of Vice President and presidential candidate Ma. Leonor “Leni”

Robredo with the CPP-NPA. Guevarra, however, stressed that there is still no basis yet for the ATC to formally conduct a probe into these reports.

“We do not have sufficient factual basis at this time to initiate an investigation,” Guevarra said. The Department of Justice (DOJ) is one of the member-agencies of the ATC, which designated the CPP-NPA and the National Democratic Front (NDF) as terrorist groups. Guevarra also explained that there is nothing unlawful for groups linked to the CPP-NPA to throw their support behind a certain candidate or political party participating in the May 9 national and local elections. He said the ATC would only step in if these groups would engage in violent and terrorist activities that would disrupt the upcoming polls. “There’s nothing unlawful for any groups associated with the CPPNPA to support any political party or individual in the forthcoming elections,” Guevarra said.

“It is when they commit acts of violence to sow terror and destabilize public order in the guise of exercising their political rights that will prompt the Anti-Terrorism Council to take action,” he added. There had been allegations that the camp of Robredo, who is running for president, coalesced with communist rebels to boost her presidential bid. Sen. Panfilo Lacson, who is also running for President, also cited intelligence reports indicating that the CPP-NPA may have supported Robredo’s campaign rally in Cavite. L a st Ma rc h 13, President Duterte disclosed that he received an intelligence report about an alleged conspiracy between communist insurgents and “yellow” forces to sow discord, especially during the May 9 elections.

Gov. Umali leads welcome for UniTeam rally in N. Ecija; participants deny being paid

EELECTIONIST Gov. Aurelio Umali on Tuesday led the province’s local officials in welcoming UniTeam presidential candidate Ferdinand “Bongbong” Marcos Jr. and vice presidential hopeful Davao City Mayor Sara Duterte at a huge rally in Santa

Umali escorted Marcos of Partido Federal ng Pilipinas (PFP), and Duterte of Lakas-Christian Muslim Democrats (CMD), during the rally that was originally designed as UniTeam’s meet-and-greet with pastors and residents. Marcos and Duterte received the

loudest cheers from the audience despite the hot summer weather. In her speech, Mayor Sara cited the huge contribution of Nueva Ecija as the rice granary of the Philippines. She also reiterated her UniTeam’s message of hope, unity and patriotism. The Davao City mayor

said those who campaign for the “red and green” of Marcos and Duterte should just throw a “UniTeam burger” at those who seek to cancel them. UniTeam senatorial candidates Loren Legarda, Larry Gadon, Rodante Marcoleta, Jinggoy Estrada, Migz Zubiri, and Harry Roque also

delivered speeches. The event was organized by Umali and was held at his residence in Barangay Soledad. After the event at Umali residence, the UniTeam candidates held a caravan from Cabanatuan City to Talavera, where the UniTeam grand

rally was held. As Marcos was speaking onstage at the grand rally, supporters chanted “hindi kami bayad!” repeatedly, meaning, they were not paid to attend, contrary to an online story that each supporter was paid P500 for the rally attendance.

A4 Thursday, March 17, 2022 • Editor: Vittorio V. Vitug

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Wage increase, fare hike to raise inflation by 1.4 percentage points, Neda chief says By Cai U. Ordinario @caiordinario

HE National Economic and Development Authority (Neda) has warned that the proposed minimum wage increase and jeepney fare hikes would likely raise inflation by 1.4 percentage points. In a briefing to the Cabinet on Tuesday night and televised on Wednesday, Socioeconomic Planning Secretary Karl Kendrick T. Chua said a jeepney fare hike will increase inflation by 0.4 percentage points while a wage hike will lead to a 1 percentage point increase in inflation. Chua said these estimates took

into consideration a P1.25 increase in jeepney fares to P10.25 from the current base fare of P9 and P39 increase in wages to a minimum wage of P576 in the National Capital Region (NCR) or Metro Manila. “Sa krisis na nangyayari ngayon ay tumataas po ’yung mga presyo ng pangunahing bilihin. At kung hindi po natin babantayan ito, puwede po siyang mag-spiral. Ibig sabihin, hindi lamang ’yung presyo ng langis o ng gas ay tumataas. Puwede ring sumunod ang pagkain, puwede ring sumunod ’yung mga kuryente, tubig, at iba pa. [The current crisis is causing an increase in the price of basic goods. If we do not monitor this closely,

this can spiral. This means, the price of other commodities, other than oil, could see an increase. It is possible that food prices will follow as well as electricity, water, and others],” Chua said. If inflation will increase by 1.4 percentage points, Chua said, this means the projected inflation rate of the Bangko Sentral ng Pilipinas (BSP) of 3.7 percent will be higher at 5.1 percent. Chua said this would not only affect sectors such as transportation but all Filipinos. This level of inflation will be the highestusingthe2018-basedConsumer Price Index. Under the current series that has been made available by the Philippine Statistics Authority (PSA), the highest inflation rate recorded was at 4.4 percent in August 2021. “We should be concerned not only for one sector or one type of worker.

Dapat po lahat po ay concern po natin. [We should be concerned for all sectors],” Chua said. “At dahil dito, dapat maingat po tayo. Marami po tayong gustong ma-achieve pero dapat alam po natin kung ano po ’yung mas nakakabuti sa ating kapwa Pilipino. [Because of this, we should be careful. We want to achieve many things but we have to know what would be the best for our fellow Filipinos].” In a separate briefing on Wednesday, Asian Development Bank (ADB) Southeast Asia Department Senior Economist James P. Villafuerte said the projected impact would even be larger than Neda’s estimate. The ADB Senior Economist said the rule of thumb when it comes to the impact of oil prices is that a 10 percent increase in pump prices would lead to a 0.4 percentage point increase in inflation.

Villafuerte said, however, that local fuel pump prices have already increased by 30 percent. Taking that into consideration, the total impact of the increase in oil prices in the country could already translate to a 1.2 percentage point increase in inflation. “Of course this is a static analysis because there will be adjustment in terms of probably tax adjustment for oil. And then the second is some countries also provide subsidies to electricity, which will also temper the impact of oil. We are still doing the analysis in the ADO [Asian Development Outlook] and that analysis will come out on April 6,” Villafuerte said. Based on the latest inflation data from PSA, inflation for Housing, Water, Electricity, Gas, and Other Fuels reached 4.8 percent in February, while inflation for transport has increased to 8.8 percent during the month.

LTFRB official urges DBM to release fund for PUV service contracting program By Lorenz S. Marasigan @lorenzmarasigan

HILE the Land Transportation Franchising and Regulatory Board (LTFRB) releases its fuel subsidy to public utility vehicle (PUV) drivers, the agency is also pushing for the resumption of the Service Contracting Program (SCP) to cushion the impact of rising fuel costs to both drivers and commuters. In a mobile message, LTFRB Executive Director Tina Cassion said the Land Bank of the Philippines (LandBank) has started crediting the fuel subsidy to “existing cardholders” and that the agency expects the “continuous daily crediting until Friday this week.” “For other modes which need card printing, we expect cards to be ready for distribution next week,” she said. “For other beneficiaries that were not included in the previous subsidy implementation, we will create a LandBank account for them, as long as they are legitimate CPC [certificate of public convenience] holders based on our database.” The regulator will notify them once the cards are ready, which Cassion presumed to be released next week. It will also announce the release of the cards on its digital assets. She noted that the LTFRB is awaiting an official beneficiary list of tricycle and delivery riders from the Department of the Interior and Local Government and the Department of Trade and Industry before processing their fuel cards. In total, the Department of Transportation (DOTr) requested P2.45 billion from the national government to provide 377,443 beneficiaries at P6,500 each in fuel subsidy. Cassion also pleaded to the Department of Budget and Management (DBM) to quickly release the funds requested to bankroll DOTr’s SCP. “The SCP can provide a boost to our efforts to cushion the rising fuel prices because it benefits the passengers, the operators, and the drivers,” she said. Under the SCP, the government pays the participants on a per kilometer basis regardless of the volume of passengers. In return, the drivers are required to provide commuters with free rides. The weekly payments also cover fuel costs, disinfection costs, monthly amortizations, and other overhead expenses, Cassion said. “This is why we are pleading before the DBM to release the funds for the SCP. They committed to release the funds within seven days from the receipt of our documents. The LTFRB submitted the documents they required in February,” she lamented. Fuel costs have been rising over the past few months due to the slump in global supply. It was exacerbated recently by the ongoing conflict between Russia and Ukraine. “We all know that the P6,500 fuel subsidy can only go so far that is why part of our strategy is to quickly deploy the SCP. We are hoping for the quick release of the funds from the DBM within this week,” Cassion said.

Solon supports calls for higher daily pay, 4-day workweek By Jovee Marie N. Dela Cruz @joveemarie

HE chairman of the House Committee on Labor and Employment will ask the National Wages and Productivity Board to implement an immediate nationwide minimum wage increase. House Committee on Labor and Employment chairman and 1-Pacman party-list Rep. Eric Pineda on Wednesday said the current minimum daily wage of P537 couldn’t sustain a family’s expenses. “We need to raise the minimum wage as well. The current minimum wage cannot sustain a family’s expenses, more so with the rising prices. We will be holding a meeting with the Committee on Labor and Employment Thursday afternoon and we will urge the National Wages and Productivity Board to implement a nationwide minimum wage increase as soon as possible,” he said. The lawmaker also backed the proposal to implement a 4-day workweek in light of rising fuel prices. “Higher oil prices will affect the price of other things, we need to adjust accordingly so that our workers will be able to keep up. Less office days means less travel expenses, which will help relieve some of the financial burdens that our workers experience today,” he said. “It’s high time we raise the minimum wage, considering the rising costs of goods and the effects of the pandemic,” Pineda said. The committee will tackle in its Thursday’s hearing House Bill (HB) Nos. 246, 276, 541, 668, 2878, 6668, 6752, which all propose to amend the Labor Code of the Philippines to institutionalize a national minimum wage for private sector. “The cost of goods is not different in all places around the country, which was a primary reason for making wages higher in larger cities in Metro Manila. That reason is barely evident now, since malls have been popping up in provinces, offering the same goods for the same prices, and with the rising gasoline prices, which is even more expensive outside Metro Manila. The effect of the rising gas prices is that everything also goes up. Further, additional expenses are now necessary due to the pandemic. People need to buy masks, vitamins, disinfecting materials, and spend on testing. How do we expect our workers to keep up without any increase in their salaries?” Pineda explained. The panel initially discussed the bills last February 2020 before the onset of the pandemic in the Philippines and the implementation of community quarantines. However, no agreement was reached because several issues still needs further discussion, said Pineda.

‘Heartless’

MEANWHILE, House Deputy Minority leader and Bayan Muna Rep. Carlos Isagani Zarate lambasted the Duterte administration for “being extremely callous and heartless to the sorry plight of the Filipino people now battered even more due to incredibly high prices of oil products and other basic goods.” Zarate issued his statement after President Duterte approved the proposal distributing unconditional cash transfers of P200 to each of the country’s bottom 50 percent households per month, totaling to P2,400 for a year. “We are challenging economic managers to live on P537 minimum wage plus their P1.33 per daily aid,” said Zarate. According to Zarate, it is easy for the economic managers to reject calls for the suspension of excise tax because they do not “feel the hardship of the ordinary consumers.” “Instead of suspending the excise tax on oil for six months, they prefer the token or P200 aid per family per month or 4-day work week.”

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, March 17, 2022 A5

Rice inventory falls to 4-month low in January By Jasper Emmanuel Y. Arcalas

percent and 11.2 percent were contributed by the commercial warehouses/wholesalers/retailers and NFA depositories, respectively.” The PSA report showed that rice inventory across all sectors (households, commercial warehouses and NFA) declined both on an annual and monthly basis. “In all sectors, rice stocks inventories posted annual decreases in January 2022. Declines were at -23.1 percent in households, -4.4 percent in commercial warehouses/wholesalers/retailers, and -40.9 percent in NFA depositories,” it said. “Likewise, month-on-month reductions of -23.5 percent in the households, -20.6 percent in commercial warehouses/wholesalers/ retailers, and -16.6 percent in NFA depositories were seen in the rice stocks inventories.” In the same report, the PSA said the country’s total corn inventory as of January 1 declined by 44.51 percent to 507,150 MT, from last year’s 914,070 MT. “As compared with the last

@jearcalas

HE country’s rice inventory declined to a four-month low in January despite a record palay harvest last year, data from the PhilippineStatisticsAuthority(PSA)showed. Figures from the PSA indicated that the country’s rice inventory as of January 1 fell by a fifth to 1.859 million metric tons (MMT), from the 2.332 MMT recorded a year ago. “In contrast to the previous month’s rice stocks inventory level of 2.377 MMT, there was a -21.8 percent drop,” the PSA said in its report titled “Rice and Corn Stocks Inventory,” published on Tuesday. The PSA data showed that rice stocks in households reached 991,560 MT while those kept in commercial warehouses and National Food Authority (NFA) warehouses reached 659,560 MT and 208,330 MT, respectively. “Of the total rice stocks inventory, about 53.3 percent were from the households. The remaining 35.5

THIS BusinessMirror file photo shows an assortment of commercial rice on sale at a grocery store in Antipolo City.

month’s corn stocks inventory level of 562,840 metric tons, a drop of -9.9 percent was recorded in January 2022,” the report read. The PSA said corn stocks for both households and commercial warehouses declined on an annual and monthly basis. Corn inventory in households reached 73,960 MT while stocks in commercial warehouses were at 433,190 MT. “There were -74.4 percent and -30.7 percent decreases in the households and commercial warehouses/ wholesalers/retailers, respectively,” the report read. “Similarly, there was a -32.3 percent decline in the household corn stocks and -4.5 percent drop in the commercial warehouses/wholesalers/retailers corn stocks relative to their previous month’s stocks inventory level.” The PSA said households contributed about 14.6 percent to the total corn stocks inventory and 85.4 percent was from commercial warehouses/wholesalers/ retailers.

Planters oppose govt bid to raise MAV for corn imports DAR-assisted farmers renew marketing

ORN farmers belonging to the Philippine Maize Federation Inc. (PhilMaize) have thumbed down the proposed minimum access volume (MAV) of 4 million metric tons (MMT) for corn imports. “We vehemently oppose that volume. That proposed volume is just telling us, local farmers, to stop producing corn,” PhilMaize President Roger V. Navarro told the BusinessMirror in an interview. Navarro said the government must show a “clear-cut analysis” that will support the proposed corn MAV. He urged the government to present the country’s corn supply and demand situation for the year to determine if there is a shortage. “Show us the clear calculation of requirements and supply for corn.” As for the proposed reduction of tariffs on corn, Navarro said his group will support this “out of compassion” and on the condition that any adjustments will be temporary. He also said the import program must be calibrated to ensure that

the arrival of corn imports will not coincide with the harvest season. Navarro said PhilMaize had urged the Department of Agriculture (DA) and the National Economic and Development Authority (Neda) to prioritize local production. “Our objective must be selfsufficiency and not foreign dependence, especially on crops that we can grow in our country.” The Neda had proposed the expansion of the corn MAV to 4 MMT, from the current 216,940 metric tons (MT), until the end of the year as well as the reduction in the Most Favored Nation tariff rate to 5 percent for inquota or within MAV and 15 percent for out-quota. The Tariff Commission (TC) is set to conduct a public hearing on the proposed modification of corn tariff rates on Friday. The Neda has already notified the DA about its proposal to increase the corn MAV. The MAV adjustment is within the purview of the MAV Management Committee chaired by the DA. Adjustments to the MAV will also have to go through the MAV

Advisory Council (AC) which is composed of representatives from the agriculture sector. Raul Q. Montemayor, the representative of the grains sector to the MAV-AC, is also opposing the 4-MMT MAV for corn, saying this is “overkill.” “It is almost half of our annual corn production. Besides that, there is no limit to feed wheat imports,” Montemayor told the BusinessMirror. “We have enough time to gear up production of rice, corn, pork, chicken, etc., but the economic managers are adopting the lazy man’s solution, which is to just import.” Federation of Pork Producers Inc. (ProPork) President Nonon Tambago also expressed his opposition to the extension of lower tariff rates on pork imports. Tambago said the lower tariff rates, which have been in effect for almost a year now, did not translate to cheaper pork products. “Reduction of pork tariff doesn’t translate to cheaper pork retail price in the meat markets as projected by economic managers. Until now pork

prices in the market are still high compared to pre-ASF [African swine fever] and pre-Covid situation,” Tambago told the BusinessMirror. The TC will conduct a public hearing on the proposal to extend the lower pork tariff rates until the end of the year on Thursday. For pork, Neda’s recommendation is to extend the lower tariffs until December 2022 as it would lapse on May 17. Currently, pork in-quota tariff is set at 15 percent while outquota is at 25 percent with a MAV of 200,000 MT. Tambago, who represents the pork sector at the MAV-AC, said he supports the extension of the validity of the 200,000-MT pork MAV+ because of the local supply gap created by ASF. “Considering that we really have a supply gap due to the effects of the ASF virus that reduced Philippine hog population by at least 25 percent, I agree to the extension of pork MAV+ [via EO133] until December 2022 as proposed by Neda but strongly oppose the extension of tariff cut beyond May 17, 2022 based on EO134.” Jasper Emmanuel Y. Arcalas

agreement with BJMP in Pampanga By Jonathan L. Mayuga @jonlmayuga

ARMERS belonging to the Santo Tomas-San Luis Farmers Association Inc. (SSFAI) and the Bureau of Jail Management and Penology (BJMP) have renewed their marketing agreement for the supply of nutritional and food requirements for persons deprived of liberty in Pampanga. An agrarian reform beneficiary organization (ARBO), the SSFAI would supply Angeles, Guagua, Arayat, and San Fernando jail dormitories their agri products that include fresh vegetables and fruits, including poultry products. DAR-Central Luzon Regional Director James Arsenio Ponce said the agreement was made possible through the Enhanced Partnership Against Hunger and Poverty Program, a government initiative that seeks to address hunger and poverty through synergy and convergence of essential services of the government agencies. “With this tie-up, the Santo To-

mas-San Luis Farmers Association Inc. are again secured of a steady market. The BJMP, which is an institutional buyer, would receive a regular supply of agricultural products for PDLs food consumption,” Ponce explained. He added that this is a win-win agreement for both parties because the ARBO was able to avoid negotiating with a third party or middlemen to gain an established buyer, while the BJMP are assured of affordable and fresh agri-products. “Our part now is to continue supporting our farmers and ARBOs to boost their agricultural production and engage them more in agribusiness activities,” Ponce said. Last December, the DAR headed by Ponce turned over a hauling truck to Santo Tomas-San Luis Farmers Association Inc. for the utilization of their agriproducts delivery. Meanwhile, ARBO chair Fredeliza Miranda, from Santo Tomas in the town of San Luis expressed her gratitude to the BJMP for its continued patronage of their products.

Wheat jumps as Putin says Kyiv ‘Lacson-Sotto programs for agri sector realistic, concrete’ P isn’t ‘serious’ about cease-fire

HEAT extended gains after Russian President Vladimir Putin said Tuesday that Ukraine wasn’t “serious” about finding a peaceful resolution to the ongoing conflict. Futures in Chicago rose as much as 5.5 percent to $11.565 a bushel in New York after Putin criticized Kyiv to European Council President Charles Michel. The war is exacerbating fears of supply shortfalls as Russia’s invasion of Ukraine cuts off cargoes of the staple crop. Wheat had already risen earlier in the session on signs of fresh crop demand as dryness parches key growing areas in the United States. Prices touched an all-time high above $13 earlier this month. Major importer Turkey is seeking wheat later this week, and Iraq is looking for 50,000 tons. Algeria wants to buy barley, and some European countries are after American corn to help plug a gap as the war in Ukraine stalls its supplies abroad. Data from several US wheat states showed drought taking a toll on fields as they emerge from winter dormancy, adding to bullish price signals. Less than a quarter of Kansas winter-wheat is in good or excellent condition, and ratings are similarly poor in Oklahoma, Texas and Colorado. A smaller harvest could add to

the uncertainty surrounding global supplies amid Russia’s invasion of its neighboring country. “If you take out the old crop supply exports from Russia and Ukraine, we are seeing futures trading at fair value around $11 a bushel, so we will probably see this market chop around this $10 to $12-a-bushel range until we have more clarity for new crop weather and sanctions,” said Ben Buckner, grains analyst for AgResource Co. in Chicago in a phone interview. Meanwhile, corn futures gained as much as 1.4 percent to $7.59 a bushel, erasing earlier losses, and soybeans declined as much as 2 percent to $16.38. That comes as Brent crude prices fell below $100 a barrel, rattled by a fresh coronavirus outbreak in China and signs of progress in cease-fire talks between Ukraine and Russia. While still high historically, the losses could shake the bullish sentiment across commodities since the war erupted and weigh on demand for crops used to make ethanol and biofuels.

Egypt’s incentives

EGYPT is offering incentives to farmers to produce wheat and setting an output quota for subsidies as the country rushes to safeguard supplies

amid the war in Ukraine. Farmers must deliver a minimum ratio to the government to participate in the country’s bread-subsidy program, according to a document seen by Bloomberg. They won’t be able to sell the rest of their crop outside the official procurement system without a license, it said. Officials from Egypt’s Ministry of Supply and Internal Trade declined to comment. Egypt, the most populous Arab country, imports most of its wheat from Russia and Ukraine, using those supplies as a cornerstone for the subsidy program that provides bread at reduced prices for about 70 million people. The war in Ukraine has sent wheat prices soaring, putting pressure on the finances of the Egyptian government, which wants to guard against profiteering. The new rules are part of the country’s efforts to tighten control over the local market to maintain price stability and secure reserves of basic foodstuffs amid the fallout from the war. Large-scale farmers who deliver at least 90 percent of this season’s yield to the government will receive incentives in the form of subsidized fertilizers for the summer season, according to the document.

Bloomberg News

ARTIDO Reporma standardbearer Panfilo “Ping” Lacson and running mate Senate President Vicente “Tito” Sotto III offered to agriculture industry workers in Cagayan Valley region this week their solid programs for the farmers and fisherfolk nationwide to lift their sector out of the pandemic slump. In a town hall forum held at the Tuguegarao City leg of their campaign, Tuesday morning, Lacson and Sotto assured voters only their tandem has the concrete, implementable policy agenda towards improving the living and working conditions of our local food producers. “Maririnig niyo naman ’yung ibang mga kandidato sasabihin ‘agricultural modernization, we will ensure food security.’ Hindi ba naririnig niyo ’yon? Sinasabi ba nila sa inyo kung papaano? Hindi. Kami mayroong plano,” Sotto told the Cagayan-based farmers. [You’ve been hearing other candidates who keep on talking about ‘agricultural modernization, we will ensure food security.’ You heard that, right? Did they ever tell you how? No. But we have a plan.] The vice-presidential candidate said he and Lacson are deliberately avoiding using “motherhood statements” in their national campaign to set themselves apart from their political rivals who are only good at making promises to the electorate without explaining how to fulfil them. As they previously announced in their earlier visits to other provinces,

the presidential duo plans to buy 50 percent of the agricultural output of farmers and fishermen at their own price, so they would not be exploited by enterprising middlemen who are jacking up prices once the products hit the market. “Ito matagal ko nang sinasabi, kailangan bilihin ng gobyerno sa presyo ninyo sa farmgate price ang mga produkto ng mga magsasaka—50 percent ng produkto ninyo dapat bilhin ng gobyerno sa tamang presyo,” noted the Senate President.

[This is what I’ve been talking about for a long time, the government has to buy at reasonable farmgate prices the products of farmers—50 percent of your products, the government has to buy them at correct prices.] “Mag-i-stabilize ang presyo at oo, medyo tatamaan ’yung mga middlemen, tatamaan ang mga traders, pero hindi magtataas ang presyo masyado, ano? Malaki ang kita ng mga magsasaka pero ’yung consumer hindi masyadong mamamahalan kasi tama ang magiging presyo,” Sotto said.

BusinessMirror

Thursday, March 17, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

3O BPO INCORPORATED 2/f Lcs Bldg South Super Highway, San Andres Cor Diamante St., 087, Barangay 803, Santa Ana, City Of Manila HASNOE, FARICHAD RAHIED Customer Service Agent Dutch 1.

Brief Job Description: Customer service agent interacts with the customer on behalf of the organization. Provide information about the products and services, responds to customer complaints as well

Basic Qualification: Native speaker

16.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WANG, LI Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optic cabling system

INJAENG, CHUTHARAT Investigation Specialist I 2.

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 WEI, YULONG Investigation Specialist I

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

Basic Qualification: Fluency in both english and thai

HSIEH, TSEN-FEN Customer Relationship Manager, Premium Services 4.

Brief Job Description: Responsible in managing premium mass VIPs accounts. Provides overall direction and management of premium mass related services WANG, SHANSHAN Host, Premium Services-china/sea

Brief Job Description: Providing high quality services to our gaming customers as front runners of solaire and casino and project a good image and goodwill of the company CHEW KHAI KIEN Shift Manager, Premium Services

Brief Job Description: Responsible for Providing to the day to day Operation of the Player Services

17.

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

WANG, LONG Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optice cabling system

Salary Range: Php 30,000 - Php 59,999 18.

Basic Qualification: Proficient in speaking, reading and writing;relevant experience in this position

WU, FENGLI Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optic cabling system

19.

XU, YUNLONG Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optic cabling system

Brief Job Description: The Chinese IT Support Specialist shall answer incoming phone calls from clients and troubleshoot customer technical problems with computer software and hardware.

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

20.

ZHU, HUI Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optice cabling system

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

10.

11.

12.

Brief Job Description: Plan organize, and manage business projects for clients

21.

SU, XIANG Chinese Speaking Business Consultant Brief Job Description: Plan organize, and manage business projects for clients XIONG, JIANGANG Chinese Speaking Business Consultant Brief Job Description: Plan, organize, and manage business projects for clients XU, YULING Chinese Speaking Business Consultant Brief Job Description: Plan, organize, and manage business projects for clients

LIU, TIANXIANG Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Installs cat5e, cat6, cat6a, and fiber optic cabling system

Basic Qualification: Fluent in English and mandarin language and with analytical mind and analysis skill

13.

Brief Job Description: Installs cat5e, cat6, cat6a, and fiber optic cabling system

Basic Qualification: Fluent in English and Mandarin language and with analytical, mind and analysis skill

14.

Brief Job Description: Installs cat5e, cat6, cat6a, and fiber optic cabling system

15.

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

ZHU, YONGQIANG Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Install Cat5e, Cat6, Cat6a, and fiber optice cabling system

YE, ZHIPENG Chinese Speaking It Specialist 23.

24.

Brief Job Description: Act as communication liaison between low-level employees and senior management

LI, JIANFENG Mandarin Speaking Project Supervisor 25.

Brief Job Description: Act as communication liaison between low-level employees and senior management

SI, LIN Mandarin Speaking Project Supervisor 26.

Basic Qualification: Fluent in mandarin and English with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

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

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

LAN, WENTING Mandarin Speaking Project Supervisor

Basic Qualification: Fluent in mandarin and English with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

HE, QUAN Mandarin Administration Manager 30.

Brief Job Description: Act as communication liaison between low-level employees and senior management

TIAN, YU Mandarin Speaking Project Supervisor 27.

Brief Job Description: Act as communication liason between low-level employees and senior management

WEI, MIN Mandarin Speaking Project Supervisor 28.

Brief Job Description: Act as communication liason between low-level employees and senior management

Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

Brief Job Description: The mandarin administration 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.

ZOU, HAO Mandarin Finance Manager 31.

Brief Job Description: The mandarin finance 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.

XIE, XIAOMING Mandarin General Vice Manager 32.

Brief Job Description: The mandarin general vice 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.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

LI, YANGMING Mandarin Structural Maintenance Analyst 33.

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

Basic Qualification: Proven experience as mandarin finance manager, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin general vice manager, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

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

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

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

SATHYAMOORTHY, VIGNESH Compliance AML KYC Group Manager

34.

Brief Job Description: The overall objective of this role is to drive the development and management of a dedicated internal KYC (Know Your Client) program at Citi. The successful candidate will work with Global KYC management team to provide strategic direction and develop all aspects of the KYC control environment (e.g., people, process, technology, and governance).

Basic Qualification: 1. Bachelor’s degree/ University degree or equivalent experience; Master’s degree preferred 2. Minimum of 10 years total work experience, 5 years of which should be in a similar function (AML, compliance, KYC) gained from the banking or financial services industry 3. Extensive experience managing large teams across different geographies Salary Range: Php 150,000 - Php 499,999

KHAN, NASIR IKRAM In-Business Controls Head 35.

Brief Job Description: The Country In-Business Control Head is a specialist who proactively supports the Country Business Manager (CBM) in managing and mitigating operational risks and executing risk and control responsibilities for the country Consumer franchise as a First Line of Defense function.

Basic Qualification: 15+ years of prior experience in regulatory compliance related work – Internal Audit, Risk management, Internal Procedures and Controls required Salary Range: Php 500,000 and above

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Bldg. F, Ayalaland, Technohub, Quezon City

PANDEY, NARESH CHANDRA Site Director 36.

Brief Job Description: Responsible for delivering high standards of services to customers by making the most effective and efficient use of call center staff and technology resources

Basic Qualification: Bachelor’s degree in related field from a four year college or university with more than twelve years of relevant experience (with four to six years of Progressive Management Experience) Preferred Salary Range: Php 90,000 - Php 149,999

CRONYX INC. No. 4th-10th Flr. Yinhope Bldg., Dela Rama Cor. Zoili Hilario St., Seascape Village, Ccp Complex Subd. Zone 10, Barangay 76, Pasay City NGUYEN THI TUYET MINH Chinese Speaking Program Designer 37.

Brief Job Description: Assist/help customers, give customers information about product and services O SANG DIEU Chinese Speaking Program Designer

38.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as project supervisor

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English preferably with 5 years of experience as project supervisor

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

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

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

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT Specialist Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Act as a communication liaison between low level employees and senior management

QUALIFICATION AND SALARY RANGE

CHINA HARBOUR ENGINEERING COMPANY 5/f Rm 501 Ramon Magsaysay Center, 1680 Roxas Blvd., 076, Barangay 699, Malate, City Of Manila

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

Basic Qualification: Fluent in mandarin and English with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

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

WANG, JINGYU Chinese Speaking Cabling Infrastructure Technician

22.

Basic Qualification: Fluent in English and Mandarin language and with analytical, mind and analysis skill Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician Salary Range: Php 30,000 - Php 59,999

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

LYU, JINMING Chinese Speaking Cabling Infrastructure Technician

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

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

LYU, BIN Chinese Speaking Cabling Infrastructure Technician

ZHU, YAGUI Chinese Speaking Cabling Infrastructure Technician

Basic Qualification: Fluent in English and mandarin language and with analytical mind and analysis skill Salary Range: Php 30,000 - Php 59,999

29.

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

Basic Qualification: Must be fluent in Chinese language (writing and speaking)

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, HUIJUN Mandarin Speaking Project Supervisor

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

Basic Qualification: 1yrs of Industry Experience Knowledge of required Company unforgettable gaming experience to our VIPs Salary Range: Php 90,000 - Php 149,999

No.

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

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

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig LIN, ZEFENG Chinese Speaking Business Consultant

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

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

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg., Coral Way Drive Cor. Macapagal Ave., Barangay 76, Pasay City YU, QIANMAN Chinese IT Support Specialist

Basic Qualification: Fluent in Mandarin and English, with good communication skills and preferably 5 years of experience as Chinese speaking cabling infrastructure technician

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

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Proficient in speaking, reading and writing;relevant experience in this position

QUALIFICATION AND SALARY RANGE

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

Basic Qualification: Proficiency in mandarin language

BLOOMBERRY RESORTS AND HOTELS INC. Solaire Resort And Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

ESTABLISHMENT / ADDRESS

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

www.businessmirror.com.ph

Brief Job Description: Assist/help customers, give customers information about product and services XU, PENGLI Chinese Speaking Program Designer

39.

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

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

DATACENTRIC CORPORATION 7th And 8th Floor One Griffinstone Bldg, Commerce Ave. Corner Spectrum Midway, Fcc, Alabang, City Of Muntinlupa

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HOS, HALDUN Turkey/Germany Customer Service Manager 40.

ESTABLISHMENT / ADDRESS

Brief Job Description: Responsible for overseeing the daily operations of the customer service department.

QUALIFICATION AND SALARY RANGE Basic Qualification: Responsible for planning, directing and overseeing the operation of the company in turkey and Germany market where German and Turkish language proficiency is essential, managing client accounts and dealing with complaints, preparing periodic reports for management, to track quality control standards and inform about the Germany and turkey division goals accomplish. Salary Range: Php 150,000 - Php 499,999

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati

NGUYEN THI KIM THOA Vietnamese Speaking Customer Service Representative 41.

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

No.

LE THI TRAM Chinese Speaking Customer Service Representative 54.

55.

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

56.

HUANG, ZIWEI Project Manager 43.

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. ZHANG, PENGTAO Technical Manager

44.

Brief Job Description: The technical 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.

Basic Qualification: Proven experience as project manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

58.

45.

Brief Job Description: Monitoring and Maintaining Computer Systems and Netwroks

Basic Qualification: Can Speak Mandarin

59.

60.

46.

Brief Job Description: Responsible for China and Hongkong clients

61.

ZHU, HAILONG Customer Service Representative Mandarin Speaking 47.

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

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

GRAND PREMIUM CREST HOLDING INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati TANG THIEN HUY Chinese Speaking Admin Financial Officer 48.

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

62.

49.

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

63.

50.

Brief Job Description: Support the company’s APAC entities in their P2P process using the ERP system through Purchase Requisition Validation, compliance checking, purchase order creation, releasing and monitoring

Brief Job Description: Maintain logs of all Products and Supplies , Files all Delivery and Inventory receipts

Brief Job Description: Material Submission, Ordering Procurement , Measure and Value work done on site WEI, YAWEN Quantity Surveyor Supervisor

64.

Brief Job Description: Material Submission, Ordering Procurement , Measure and Value work done on site

DANIEL LIM FUNG HSING Consultant For E-commerce 65.

Brief Job Description: Initiates strategic solutions in building world-class e-commerce operations, marketing, logistics, web optimization, and customer service

51.

Brief Job Description: Plan the branch’s strategies, directions, and business plans, plan guidelines for the implementation of assigned projects, new internal procedures, and new regulations.

52.

Brief Job Description: Assist/Help Customers , Give Customers Information about Product and Services

WIN KHAING PHYO Chinese Speaking Business Analyst 53.

Brief Job Description: Assist/Help Customers , Give Customers Information about Product and Services

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management Excellent Communications Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree in Business Management Excellent Communications Skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree in Business Management , Excellent Communication Skills

Basic Qualification: Background in using Ariba and SAP system as Buyer is preferred. 1-2 year experience preferably from a shared service center, Flient in Korean and English language skills are required.

MURJANI, ANIKET Sales Manager Brief Job Description: Prepares sales budget, plan and organize market research.

67.

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

Basic Qualification: 4 yr college/university degree in economics or any related business course, n1 level fluency in Nihongo

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

JOHN PAUL DOHBILLA BELL Gb AdminPlus Member Specialist 68.

Brief Job Description: As an AdminPlus Member Specialist (AP MS) you will provide support and administrative inquiries from plan members in English and French Language. responsible for the first call resolution and the accurate completion of administrative transactions such as life events, modifications of benefits, etc.

Brief Job Description: The Chinese IT Support Specialist is an Integral of the Company Infrastructure, Application Support and of the IT Division And is Responsible for providing quality IT Support of Enterprise systems throughout the Chinese Clientele

72.

Brief Job Description: Is responsible for performing extraordinary service experience to vip players and also act as single information point to assist vip players in conveying and solving concerns and inquiries.

73.

74.

TOMMY JAYA CHANDRA Indonesian Speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns CUNG LE THANH Vietnam-speaking Customer Service Officer

76.

Brief Job Description: maintains financial accounts by processing customer adjustments

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

Basic Qualification: Proficient language skills and skills to match job

Brief Job Description: Undertake a market analysis to include details on the market characteristics and competitor characteristics.

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

DENG, RUYI Mandarin Technical Support 77.

Basic Qualification: Proficient in speaking, writing and reading in foreign language

Basic Qualification: Foreign language speaking

ZHOU, ZHENZHONG Mandarin Marketing Specialist

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

Basic Qualification: Proficient language skills and skills match to job

Brief Job Description: Monitoring and maintaining computer systems and networks

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

WNS GLOBAL SERVICES PHILIPPINES, INC. 9/f 1880 Bldg., Eastwood City Cyberpark, Bagumbayan, Quezon City THAPAR, JAI General Manager - Human Resources 78.

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

Brief Job Description: Responsible for strategic change programs and building people capacity for specific business areas through the support of the leaders within that business

JOSHI, VAIBHAV VINOD Group Manager - Workforce Management 79.

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

Basic Qualification: Fluency in English and French – speaking and writing; Superior customer service skills; Negotiation skills with the ability to work towards acceptable outcomes; offer solutions; Solid analytical and problem solving skills; Attention to detail; Effective issue resolution skills; Knowledge of Member administration processes and systems; Ability to work in a team setting; also able to work independently; Expert verbal and written communication skills; Ability to work under pressure, meet customer needs and adapt to a changing environment; Exceptional active listening and great verbal and written communication skills. Ability to work with flexible shifts in a structured environment; Ability to handle diverse situations in a positive and professional manner; Capacity to multitask in a fast paced environment

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

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

WIKITECH SERVICES INC. Unit 25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati

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

Basic Qualification: Fluent in Mandarin , Cantonese ad Fukien Language

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

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

Basic Qualification: Bachelor’s degree in Marketing or any related course.

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

Basic Qualification: Must have lived, studied and worked in Malaysia for at least 10 years and is accustomed to its culture; and must naturally speak and write Malaysian language.

TEH WEN LUN Host, International Marketing

75.

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

Basic Qualification: Fluent in Mandarin , Cantonese ad Fukien Language

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

Basic Qualification: Master’s Degree in Business Management, Excellent Communication Skills

Basic Qualification: Proficiency in Chinese, Malay and English.

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

Basic Qualification: Must have lived, studied and worked in Malaysia for at least 10 years and is accustomed to its culture; and must naturally speak and write Malaysian language.

JO, DOYUN Host, International Marketing

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

Basic Qualification: Master’s Degree in Business Management, Excellent Communication Skills

Basic Qualification: Proficient in speaking, reading & writing; bachelor’s degree in hospitality management

TIGER RESORT, LEISURE AND ENTERTAINMENT, INC. Okada Manila, New Seaside Drive, Entertainment City, Barangay Tambo, City Of Parañaque

SUN LIFE FINANCIAL ASIA SERVICES LIMITED 4th Flr. Sunlife Centre, 5th Ave. Cor. Rizal Drive, Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

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

71.

SPRITZER TRADING CORP. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati CHAN TJUN LAM KEVIN Chinese Speaking Sales Marketing Manager

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

66.

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

70.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in Business Management , Excellent Communication Skills

Brief Job Description: Responsible for the management and successful achievement of all aspects of the food & beverage division in accordance with prescribed service standards and financial targets that have been agreed upon

WU, LIPING Chinese IT Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Master’s Degree in Business Management, Excellent Communication Skills

QUALIFICATION AND SALARY RANGE

TIANYU TECHNOLOGY INC. 14/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati

Basic Qualification: Master’s Degree in Business Management, Excellent Communication Skills

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

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

69.

Basic Qualification: Master’s Degree in Business Management, Excellent Communication Skills

SKFG CORPORATION 5/f Fems Tower I, 1289 Zobel Roxas St., 082, Barangay 758, Santa Ana, City Of Manila

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque WANG, XIAOHU Chinese Speaking Business Analyst

Basic Qualification: College Graduate, Business Administration

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHENG, PHILIP WAI KWAN Director, Food & Beverage

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

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

MUFG BANK, LTD. Oledan Square 15/f, 6788 Ayala Ave., San Lorenzo, City Of Makati TAKAHASHI, TOMOYUKI Director / Head Of Strategic Planning

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

No.

SHOPPING CENTER MANAGEMENT CORPORATION Moa Arena Annex Bldg., Cbp 1-a Coral Way Cor. J.w. Diokno Blvd., Barangay 76, Pasay City

MERCK BUSINESS SOLUTIONS ASIA INC. 36th To 39th Floor, The Finance Centre Condominium, 26th Street Corner 9th Avenue, Bonifacio Global City, City Of Taguig KIM, DO HUN Procurement Associate - Korean

Brief Job Description: Maintain logs of all Products and Supplies , Files all Delivery and Inventory receipts

SHI, HUIHONG Quantity Surveyor Supervisor

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City YU, SONGLIN Chinese Speaking Data Entry Clerk

Brief Job Description: Analyzes Expenses and Cost Transactions, Ensure the Transaction Record

WU, LIANGQING Logistics And Inventory Staff

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

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

Brief Job Description: Analyzes Expenses and Cost Transactions, Ensure the Transaction Record

CHEN, WEILONG Logistics And Inventory Staff

FONG BROS. INT’L. CORPORATION 9474 Alejandro St., Airport Village, Vitalez, City Of Parañaque CHAN, ALAN Export Account Executive (Chinese Mandarin Speaking)

Brief Job Description: Arrange Project Schedule Supervise Workers, Site Inspection of Construction Progress

SHI, JINLONG Cost Analyst

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

Basic Qualification: Proficient in Chinese Mandarin oral and written

Brief Job Description: Arrange Project Schedule Supervise Workers, Site Inspection of Construction Progress

HUANG, RONGSHI Cost Analyst

FLYING FUTURE SERVICES INC. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati HE, CHUAN Mandarin Technical Support

Brief Job Description: Monitor Employee Compliance with operation Standards, Manage and Train

ZHENG, JIAZHUN Construction Admin

Basic Qualification: Proven experience as technical manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manages the representative office

YANG, YINGHU Construction Admin

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

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

YAGI, SATOSHI Chief Representative

GONG, SHENGMEI Assistant Supervisor

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

42.

QUALIFICATION AND SALARY RANGE

REDLADDER CONSTRUCTION & DEVELOPMENT CORPORATION Rm. 252 6/f Sitio Grande Bldg., 409 A. Soriano Ave., Barangay 654, Intramuros, City Of Manila

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

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

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

ESTABLISHMENT / ADDRESS

NSK INTERNATIONAL (SINGAPORE) PTE. LTD. 8/f The Salcedo Towers, 169 H.v. Dela Costa St., Bel-air, City Of Makati

57.

LI, MAOCHUAN Chinese Speaking Data Entry Clerk

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, March 17, 2022

Brief Job Description: Efficient usage of available resources (with profitability of the programs in mind) to achieve the client and internal metrics with regards to productivity, without compromising on the critical Quality/CSAT metric

BABBAR, MANU Senior General Manager - Workforce Management 80.

NARULA, UDIT Senior Group Manager - Workforce Management 81.

Basic Qualification: Excellent people management skills. Analytical and goal oriented & demonstrate experience with HR metrics Salary Range: Php 150,000 - Php 499,999

Basic Qualification: 8 educational + professional qualifications; graduate/post graduate, prior call centre Salary Range: Php 90,000 - Php 149,999

Basic Qualification: 8 educational + professional qualifications; graduate/post graduate, prior call centre Salary Range: Php 150,000 - Php 499,999

*Date Generated: Mar 16, 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.

Salary Range: Php 60,000 - Php 89,999 SURESTE PROPERTIES INC. The Executive Offices, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

News

BusinessMirror

A4 Thursday, March 17, 2022 A8

UN agencies raise ₧2.9 billion for Typhoon ‘Odette’ victims By Jasper Emmanuel Y. Arcalas @jearcalas

NTERNATIONAL agencies under the United Nations (UN) have raised at least 32 percent or about P2.9 billion of the P8.9 billion target budget requirement for the rollout of various social interventions to Typhoon “Odette” (international code name Rai)-affected Filipinos. The revised Humanitarian needs and Priorities (HNP) for Super Typhoon Rai report showed that as of February 2, the UN has been able to raise almost a third of the $169 million funding requirement to help about 840,000 Filipinos affected by the typhoon. “I take this opportunity to call on the solidarity of our resource partners to redouble their support to fill critical short falls in our Humanitarian Needs and Priority

Plan in the current critical circumstances of the response,” UN Resident Coordinator and Humanitarian Coordinator in the Philippines Gustavo Gonzalez said in a news statement issued on Wednesday. Gonzalez said approximately $55 million or about P2.9 billion has been currently mobilized for the HNP plan which was funded through the various agencies of the UN such as the United Nations Population Fund (UNFPA), United Nations Children’s Fund (UNICEF), World Food Programme (WFP), and the International Organization for Migration (IOM). The $55 million funding was used to help “support life-saving humanitarian activities complementing the government-led response and signaling the need for urgent additional resources,” Gonzalez said. “Around 247,000 vulnerable peo-

ple in 20 most affected municipalities of the three provinces that were hardest hit by typhoon Rai: Surigao del Norte, Dinagat Islands and Southern Leyte were targeted with the CERF [Central Emergency Response Fund] funding,” he added. Based on the HNP, the UN has reached a total of 330,000 Filipinos affected by Odette out of its 840,000 target beneficiaries. Based on its estimates, the UN said there were a total of 16 million people in severely affected areas, while there are a total of 2.4 million people in need of assistance. Gonzalez said he conducted a midterm review of the HNP last March 9 to 11 in Caraga and March 14 to 16 in Southern Leyte to “take stock of the initial progress and remaining gaps, with a particular focus on operational challenges and required actions in completing CERF activities.” “By acting quickly and generously,

flexible CERF funding to the Philippines enabled a response to the most pressing needs, such as shelter, food security and water sanitation and hygiene [WASH] and protection. The CERF review mission highlighted that we should not be complacent, instead we should find ways to house those still without roofs over their heads as durable shelter for thousands of people whose homes were damaged or destroyed remains critical,” he said. “More people are still in need of food, clean water and access to medicines and sanitation facilities with protection running through all operations. Access to education for children also needs to resume, especially where learning materials and schools were damaged by typhoon Odette. Hundreds of thousands of people lost their livelihoods and need help getting back on their feet,” he added.

www.businessmirror.com.ph

Cleanfuel rolls back diesel pump price from ₧3 to ₧5 By Lenie Lectura

@llectura

LEANFUEL on Wednesday afternoon started implementing a price rollback on diesel. From March 16 to 18, the oil firm will reduce diesel price from P3 to P5 per liter on selected service stations. There are 30 selected stations that will reduce diesel price by P5 per liter. These are: Magliman, Dagat-Dagatan; San Fernando, La Union; Kawit, Binalonan, Lemery, Congressional Extension; Olongapo, Santa Rosa, Pioneer, Sumulong, Boni Avenue, Samson, Commonwealth, Lipa, Taytay, Pedro Gil, McArthur, E.Rodriguez, Bagumbong, Dasmariñas, Dimasalang, Amang, Quirino, Espanya, Timog, PhilAm, Boni Serrano, P. Tuazon, and V. Luna. Meanwhile, there are 34 stations that will implement a P3.00 per liter rollback. These are Rosario (La Union), Halsema, Magsaysay, Bokawkan, San Pablo,

Baclaran, San Luis, Angeles, Mabalacat, Sucat, Pulilan, Bacoor, Pozorrubio, Soledad, KamagongVito Cruz, Baler, Calamba, San Ildefonso, Villasis, Imelda, Mayon, Sariaya, Meycauayan, J. Abad Santos, Shaw Boulevard, Balagtas, Biñan, Ortigas West, Ortigas Extension, Edsa-Caloocan, Los Baño, Tanay, Edsa-Cubao, and Congressional. The price rollback was implemented a day after oil companies implemented a P13.15 per liter increase in diesel, P7.10 per liter in gasoline, and P10.5 per liter in kerosene. This week’s price increase is the 11th consecutive week since the start of the year. There are no announcements from other oil firms if they will also implement a price rollback of their own. The oil firms met with the Department of Energy (DOE) last Monday afternoon. They were asked to stagger the price adjustment but did not heed the DOE’s request at that time.

Mikey Arroyo cites notable gains in amending oil deregulation law BI detains two suspected South Korean fraudsters T

HE chairman of the House Committee on Energy on Wednesday said the proposed amendments to the Downstream Oil Industry Deregulation Act of 1998 is expected to mitigate the impact of rising prices of petroleum and fuel products. House Committee on Energy Chairman and Pampanga Rep. Juan Miguel “Mikey” Macapagal Arroyo said the proposal that his committee recently approved will help Filipino consumers amid surging fuel prices. Arroyo’s committee approved a

bill to amend Republic Act 8479 last Tuesday as fuel prices continue to soar amid the Russia-Ukraine conflict that disrupted global oil supply, subjecting local fuel prices to weekly adjustments reflecting the highly volatile geopolitical situation in Eastern Europe. Arroyo said prices of fuel and petroleum have been increasing, triggered by the war between Russia and Ukraine. “We are faced with the bigger task of trying to mitigate the rising prices of petroleum and fuel,” said Arroyo.

“Any large adjustment in oil prices makes it difficult for businesses and consumers to adjust quickly, thereby causing disruptions,” added Arroyo. He said there were four major reasons why the oil industry was deregulated in the first place, and these included stabilizing and providing reasonable prices; encouraging competition; encouraging investments; and removing crossproduct subsidies. The bill will prevent oil companies from raising prices of old stocks via changes to RA 8479. It also requires

oil players to increase their minimum inventory to prevent fluctuations in local fuel prices. The proposed amendments to RA 8479 also include institutionalizing the minimum inventory requirements for petroleum products for purposes of supply security and unbundling the cost of petroleum. The panel also approved a motion for the Committee on Energy to request the President for a special session so that the bill will be approved and enacted immediately. Jovee Marie N. Dela Cruz

Sarangani hospital completes ₧68.9-million facility upgrade By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—The Sarangani provincial government gradually patched some of its medical vulnerability with the completion of a P68.9-million annex building to its provincial hospital with new medical equipment and more hospital beds. “What the rich gets, the poor gets,” Governor Steve Chiongbian Solon said on Monday in the inauguration of the three-storey wing of the Sarangani Provincial Hospital (SPH), which he described as a miracle of efforts to find the fund and rushing its construction to meet the mounting demand for personnel and bed spaces during the Covid-19 pandemic. Labelled as the East Wing building, Solon thanked all the people who extended their effort for the realization of the expansion of the SPH. “I consider this construction as a miracle because we were able to start this during the heavy times of the pandemic.” The governor also acknowledged the help of Dr. George P. Royeca Hospital in General Santos City for assisting Sarangani in accommodating patients during the peak of the pandemic. Dr. Aileen Brion, chief of Sarangani Provincial Hospital (SPH), could only sigh with relief on the new annex building of the hospital, as she recalled the struggles she encountered. “There were instances where our referrals were being refused by some hospitals in General Santos City and we are always the last priority which breaks our hearts,” Brion said. “We can do so much but yet we are limited because of the services,” she said. “But now,” Brion continued, “through the initiative and leadership of the provincial officials, quality, accessible, responsive and equitable health services are now possible in Sarangani.” The annex building costs P68.9

By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) announced on Wednesday the arrest of two overstaying South Korean nationals who are facing trial in their country for alleged involvement in large-scale fraud. The alien fugitives were identified as Son Hyungjun, 36, and Choi Jong Bok, 40, who were arrested Tuesday during separate operations conducted by the unit in Pampanga. Son, who was arrested in Angeles City, was tagged as a member of the telecommunications fraud syndicate that defrauded its victims of more than 22 million won, or almost $18,000. He was arrested on the basis of an arrest warrant from the Busan district court in South Korea.

Son and his cohorts allegedly ran their racket from their headquarters in China wherein they made calls to their victims in Korea through voice phishing. On the other hand, Choi, who was arrested in Porac, Pampanga, is allegedly wanted for swindling a compatriot of more than P7 million in a fraudulent stock investment scheme. He was arrested on the virtue of an arrest warrant issued by the Nambu district court in Seoul where he was charged with fraud. The passports of the two South Koreans were already revoked, thus they are now considered undocumented aliens who are liable for immediate deportation. It was also discovered that the two have been overstaying in the country since they last arrived as tourists in 2018.

‘New Covid variants pose risk to growth’ continued from a12

SARANGANI Governor Steve Chiongbian Solon (center) leads the inauguration of the annex wing of the Sarangani Provincial Hospital. PHOTO COURTESY OF SARANGANI INFORMATION OFFICE

million, the Sarangani Information Office said, “which was mobilized through the initiative of Senator Manny Pacquiao, and Deputy Speaker Congressman Ruel Pacquiao, with the help of Governor Steve Chiongbian Solon, Vice Governor Elmer De Peralta, and all the Sangguniang Panlalawigan members.” The SPH East Wing is a threestorey building that has imaging services such as X-ray, ultrasound, and magnetic resonance imaging (MRI) on its ground floor. Its general wards are airconditioned and it has four to six beds each room on the second floor. Three private rooms are allotted on its third floor. The SPH East Wing Building is also equipped with an elevator. Provincial Health Officer Dr. Arvin Alejandro said there would be an additional P25 million from the General Appropriation Fund of the province to comply with the fire

safety requirement of the Bureau of Fire Protection (BFP). “Maipagmamalaki natin ito kasi most likely it is the only hospital in the region that is really very compliant sa BFP,” Alejandro said. “Once our license to operate is issued by the DOH [Department of Health] our hospital will now be a Level 2 or Level 1 with ICU hospital,” he added Meanwhile, Solon recognized “all the doctors and staff of the SPH for taking the risk in protecting Sarangani from the threat brought by the Covid-19.” “Through your efforts and sacrifices, na-maintain natin ang pinakamababa na casualty and infection from this pandemic,” Solon said. Also on Monday, Solon signed the memorandum of agreement with the DOH on the implementation of the Universal Health Care (UHC) Act in Sarangani, when he emphasized that

“because of the Covid-19 pandemic, it revealed the different vulnerabilities of our health system in Sarangani.” The UHC would help the province “make our health system stronger and integrated.” Among salient feature of the MOA “are the expansion of population, service, and financial coverage through an array of health system amendments,” the information office said. As one of the implementation sites of the UHC, Sarangani would be granted with the provision of its primary health services including “laboratory, eight-hours consultation, and other health programs.” Alejandro said the MOA would establish a “special health fund” from where would come all the grants from the DOH and other stakeholders, national or international and all the municipalities for the purpose of due health-care services.”

According to ADB, digital transformation, automation, and remote working have already transformed jobs, facilities, processes, and skills needs, spurring the demand for higher value-added services and employee skills. Given these adjustments in the labor market, ADB expects more job seekers. Those looking for jobs will include all those who lost jobs due to the lockdown; school dropouts; and new labor entrants. “The longer laid-off workers and new labor market entrants remain unemployed, the more likely they will become less employable because of lost skills,” the report stated. With this, ADB said the pandemic has reversed recent gains in unemployment and many poor households and low-skilled workers in the informal sector were “especially hard-hit.” Among the employed, ADB said, many were doing part-time work. The number of part-time workers increased to 16 million in October while full-time employment declined to 27.3 million during the period. The report said wage and salary jobs in private establishments declined by about 600,000 between October 2019 and October 2021, while own-account workers who are largely self-employed rose by nearly 700,000. Prior to the pandemic, the ADB said, some 18 percent of self-em-

ployed and unpaid family workers in the Philippines were already considered poor in 2018. “Informal workers tend to be paid less, enjoy little labor protection, and are likely to be exposed to occupational hazards. They are overrepresented among the poor who have limited job security and little, if any, social protection,” the report stated. The pandemic has also affected prime-age workers or those aged between 25 and 54 years old. They represented 70 percent of the labor force. This age group, the report said, recorded 2.1 million jobless workers in October 2021, more than double the prepandemic level in 2019. ADB noted they faced the biggest deficit in employment relative to the precrisis situation. “The pandemic has led to widespread unemployment, worsening inequality, and rising poverty levels, especially among women, younger workers, and the elderly in Southeast Asia,” said ADB President Masatsugu Asakawa. “ADB will continue to work with policymakers as they seek to rebuild, improve national health systems, and streamline domestic regulations to strengthen business competitiveness. We encourage Southeast Asian governments to invest in smart, green infrastructure and adopt technological innovations to reinvigorate economic growth,” he added.

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

The World BusinessMirror

Thursday, March 17, 2022

British PM: No way Ukraine joining Nato any time soon

L Ukraine President Volodymyr Zelenskyy posted on Facebook a photo of him sitting around a table with the prime ministers of Poland, the Czech Republic and Slovenia, where he briefed them on the war’s developments. Photo from President Zelenskyy’s Facebook page

3 EU prime ministers visit Kyiv as Russian attacks intensify By Vanessa Gera & Raf Casert Associated Press

ARSAW, Poland—The prime ministers of Poland, the Czech Republic and Slovenia traveled to the embattled Ukrainian capital of Kyiv and met with President Volodymyr Zelenskyy on Tuesday in a show of support for Ukraine even as bombardment by the Russian military edged closer to the center of the city. The three leaders went ahead with the hours-long train trip despite worries within the European Union about the security risks of traveling within a war zone. “It is here, in war-torn Kyiv, that history is being made. It is here, that freedom fights against the world of tyranny. It is here that the future of us all hangs in the balance,” Poland’s Prime Minister Mateusz Morawiecki said on Twitter. The long journey over land from Poland to Kyiv by Morawiecki, Poland’s deputy Prime Minister Jaroslaw Kaczynski and Prime Ministers Petr Fiala of the Czech Republic and Janez Jansa of Slovenia sent the message that most of Ukraine still remains in Ukrainian hands. But underlining the deteriorating security situation in Kyiv, a series of strikes hit a residential neighborhood in the city again on Tuesday. Zelenskyy posted a video on Facebook of him sitting around a table with the leaders briefing them on the war’s developments. After the meeting, he said he was sure “with such friends” Ukraine would be able to defeat Russia. “And most importantly, we absolutely trust the leaders of these countries and, therefore, when we speak of security guarantees, of our future in the European Union, or speak of sanctions policy, we know 100% that everything we are discussing will really lead to that positive goal for our country, for our security and for our future,” Zelenskyy said. Fiala said the main purpose of the visit was to tell Ukraine it is not alone. “We know you’re fighting for your lives ... but we also know you’re fighting for our lives, our freedom,” Fiala said. “Probably the main goal of our visit, the main message of our mission, is to say that you’re not alone. Our countries stand by you. Europe stands by you.” The Central European leaders said they were on an EU mission. But officials from the 27-nation bloc insisted that the trio had undertaken the trip independently. All three countries were once part of the communist bloc and now belong to both the EU and Nato. Jansa described the visit as a way to send a message that Ukraine is a European country that deserves to be accepted one day into the EU. Two weeks earlier, Zelenskyy made an emotional appeal to the European Parliament on that very subject. “We are fighting also to be equal members of Europe,” Zelenskyy told EU lawmakers on March 1. “I believe that today we are showing everybody that is what we are.” Jansa said the war has awoken Europeans to the idea that the bloc represents fundamental ideas that are under threat—and which Ukrainians are defending with their lives. “Thank you for not only defending your homeland and Europe as a territory, but for defending the very core of European values and our way of life. Your fight is our fight and together we will prevail,” tweeted Jansa, a right-wing populist friendly with Hungarian Prime Minister Viktor Orban. Jansa, 63, served as defense minister during the small state’s brief and successful uprising against the Yugoslav army when Slovenia declared independence in 1991. Lately, he has been comparing Ukraine’s resistance to Slovenia’s uprising against a much stronger enemy. The presence in Kyiv of Kaczynski, Poland’s de-facto leader, carried a symbolic significance. He is the twin of the late President Lech Kaczynski, who died in a plane crash on Russian soil in 2010 along with 95 other Poles, among them political and military leaders, as they traveled to commemorate Poles executed by the Soviet secret police during World War II. A Polish investigation determined that the crash was an accident caused by fog and pilot error. Still, Kaczynski, 72, has long suspected that Russian President Vladimir Putin had a role in provoking the accident, a suspicion that has not been proven. Morawiecki said on Facebook that the visit was agreed by the EU and that the United Nations was also informed. Yet in Brussels, officials said they had been informed of the visit but characterized it as one taken independently into a war zone. Nato Secretary-General Jens Stoltenberg, who was asked about the visit, didn’t endorse it outright but said “I think it is important that leaders of Nato countries, of European member states, are engaging closely with President Zelenskyy.” The visit had been planned for several days but was kept secret for security reasons, said Michal Dworczyk, chief of staff for Morawiecki. Shortly before dawn and hours before the leaders were due in Kyiv, large explosions thundered across the city from what Ukrainian authorities said were Russian artillery strikes. The shelling ignited a huge fire and a frantic rescue effort in a 15-story apartment building. At least one person was killed and others remain trapped inside. Shock waves from an explosion also damaged a downtown subway station in Kyiv that has been used as a bomb shelter. City authorities tweeted an image of the blown-out facade, saying trains would no longer stop at the station. Before his departure, Morawiecki on Facebook recalled how the Lech Kaczynski had made a visit to the capital of Georgia in 2008 when that ex-Soviet country was under attack from Russia. He quoted President Kaczynski, who said at the time in Tbilisi: “Today Georgia, tomorrow Ukraine, the day after tomorrow the Baltic states, and then maybe it’s time for my country, for Poland.” Raf Casert reported from Brussels. Lorne Cook in Brussels and Dusan Stojanovic in Belgrade, Serbia, contributed to this report.

ONDON—British Prime Minister Boris Johnson says Ukraine is not going to join Nato “any time soon,” after the country’s president acknowledged Ukraine would not become part of the Western military alliance.

President Vladimir Putin has long depicted Ukraine’s Nato aspirations as a threat to Russia, something the alliance denies. Ukraine’s President Volodymyr Zelenskyy said Tuesday that Ukraine realized it could not join Nato, his most explicit acknowledgment that the goal, enshrined in Ukraine’s constitution, was unlikely to be met. It came as Russia and Ukraine held a new round of talks, with Zelenskyy saying Wednesday that Russian demands were becoming “more realistic.” On Wednesday, Johnson—one of the most vocal Western supporters of Ukraine—said “the reality of the position” is that “there is no way Ukraine is going to join Nato any time soon.” But he said the decision had to be for Ukraine to make. Key developments:

Ukraine hospital workers battling on 2 frontlines

KHARKIV, Ukraine—Hospital workers in Ukraine’s second-largest city find themselves on two frontlines, battling Covid-19 in intensive care units as war rages outside. The Kharkiv Regional Clinical Infectious Diseases Hospital, the city’s leading facility for treating virus

patients throughout the pandemic, has barricaded its windows and is adapting every day. Hospital director Dr. Pavel Nartov said air raid sirens go off multiple times daily, forcing fragile patients into the hospital’s makeshift bomb shelter. Handling ICU patients on ventilators is the most difficult and dangerous part of the process, but also the most crucial, given the dangers of exposing oxygen tanks to bombings and shrapnel, he said. “Bombing takes place from morning into night. Thank God a bomb has not yet hit our hospital. But it could hit at any time,” he told The Associated Press. Kharkiv has been under sustained fire from Russian forces since the outbreak of the war, with shelling hitting residential buildings and sending masses of people fleeing. Ukraine’s official daily Covid-19 cases reached record highs in February but have declined since Russia invaded amid the chaos of war. Covid-19 concerns have fallen by the wayside as people focus on fleeing the fighting.

Japan praised for Russia sanctions

TOKYO—US Ambassador to Japan Rahm Emanuel praised Japan Wednesday for standing with the

US and other Western nations in announcing its latest sanctions to oppose Russia’s invasion of Ukraine. Emanuel noted Japan’s ban on the exports of about 300 goods to Russia and Belarus, including semiconductors and communications equipment, as well as its stripping Russia of its most favored nation trade status. “Japan’s actions demonstrate its steadfast commitment to stand in unity with the United States, our allies and partners in Europe and around the world, and the Ukrainian people,” he said. The US also welcomed Japan’s recent decision to freeze the assets of 17 more Russian politicians, tycoons and their relatives. The number of Russians targeted by Japan’s sanctions that freezes their assets now totals 61.

Fourth Russian general killed in battle

LVIV, Ukraine—Ukraine said a fourth Russian general has been killed in the fighting. Maj. Gen. Oleg Mityaev died Tuesday during the storming of Mariupol, said Ukrainian Interior Ministry adviser Anton Gerashchenko, who published a photo on Telegram of what he said was the dead officer. Ukrainian President Volodymyr Zelenskyy reported the death of another Russian general in his nighttime address but didn’t name him. Mityaev, 46, commanded the 150th motorized rifle division and had fought in Syria, Gerashchenko said. There was no confirmation of the death from Russia.

Russian protester not allowed to sleep NEW YORK—The Russian state

television employee who was arrested after interrupting a live news program by protesting the war in Ukraine said she was not allowed to sleep in police custody and was interrogated for 14 hours. “These were very difficult days of my life because I literally went two full days without sleep, the interrogation lasted for more than 14 hours and they didn’t allow me to contact my family and close friends, didn’t provide any legal support,” Marina Ovsyannikova said after she was released. Ovsyannikova, an employee of Channel 1, walked into the studio during Monday’s evening news show with a poster saying “stop the war, don’t believe the propaganda, they are lying to you here.” In English, it said “no war” at the top of the poster and “Russians against the war” at the bottom. In a video recorded before her action, she urged Russians to join anti-war protests and said that “Russia is the aggressor country and one person, Vladimir Putin, solely bears responsibility for that aggression.” She was fined 30,000 rubles (about $270) on charges of organizing unsanctioned actions for her call to take part in demonstrations against the war. The state news agency Tass said Ovsyannikova was fined for the video, not for her appearance during the news show. She remains under investigation for that on-air protest, Tass said, citing a law enforcement source. Tass said Ovsyannikova is being investigated under a new law against the dissemination of “deliberately false information” about the use of Russian armed forces, which carries a prison sentence of up to 15 years. AP

White House: Biden will travel to Europe for Ukraine talks

ASHINGTON—President Joe Biden will travel to Europe next week for face-to-face talks with European leaders about the Russian invasion of Ukraine, White House press secretary Jen Psaki announced Tuesday. Biden will meet with European leaders at an extraordinary Nato summit in Brussels on March 24. He will also attend a scheduled European Council summit, where efforts to impose sanctions and further humanitarian efforts are underway. “While he’s there, his goal is to meet in person face-to-face with his European counterparts and talk about, assess where we are at this point in the conflict in the invasion of Ukraine by Russia. We’ve been incredibly aligned to date,” Psaki said. “That doesn’t happen by accident. The president

is a big believer in face-to-face diplomacy. So it’s an opportunity to do exactly that.” The White House announced the president’s travel shortly before Biden on Tuesday signed a bill providing $13.6 billion in additional military and humanitarian aid to Ukraine as part of a $1.5 trillion government spending measure. Biden said at the bill signing ceremony that the US was “moving urgently to further augment the support to the brave people of Ukraine, as they defend their country.” The trip follows Vice President Kamala Harris’ visit to eastern flank Nato countries of Poland and Romania last week to discuss with leaders the growing refugee crisis in eastern Europe sparked by the Russian invasion and to underscore the Biden administration’s

support for Nato allies. Poland’s foreign minister Zbigniew Rau said Tuesday that a visit by Biden to Poland was “very probable” when he comes to Europe. More than 1.8 million Ukrainians have fled to Poland since the start of the war, according to the United Nations. More than 3 million people have fled Ukraine since Russian launched its invasion. “It would be hard to imagine a better place for the United States and for the entire alliance to stress their position than the brightest link on the eastern flank, that Poland is,” Rau told Polish state TVP INFO. Psaki said she did not have additional details about whether Biden would visit Poland during the trip. The White House’s announcement of Biden’s visit to Brussels came on the same day that leaders of Poland, the Czech Republic and

Slovenia set out for Kyiv by train despite the security risks to show their support for Ukraine. It was a visit EU officials said was not sanctioned by other members of the 27-nation bloc. Daniel Hamilton, a former deputy assistant secretary of state for European affairs, said Biden’s trip to Europe comes as the White House looks to continue to maintain what’s been a largely unified western opposition to Russia since the invasion. “As the war continues, it’s important that the president show he is not sitting comfortably across the Atlantic, but that he is part of the coalition meeting with European colleagues in Europe and that the United States is a European power,” said Hamilton, non-resident fellow at Brookings Institution, a Washington think tank. AP

Ukrainian strike on Russian-held airport damaged helicopters, cars

VIV, Ukraine—Satellite photos from Planet Labs PBC analyzed by The Associated Press show a suspected Ukrainian strike on the Russian-held Kherson International Airport and Air Base set several helicopters and vehicles ablaze. The images Tuesday at the dual-use airfield show thick black smoke rising overhead from the blazes. At least three helicopters appeared to be on fire, as well as several vehicles. At a pad further away, other helicopters appeared damaged from an earlier strike. The Ukrainian president’s office said that fighting had continued at Kherson airport on Tuesday, with “powerful blasts” rocking the area during the course of the day. They said

they were assessing damage in the area, without elaborating. Kherson is about 450 kilometers (275 miles) southeast of Ukraine’s capital, Kyiv. Meanwhile, satellite images Tuesday of the Zaporizhzhia nuclear power plant in Enerhodar, Ukraine, showed no damage to the site’s six reactors after Russian forces engaged in a firefight to seize the facility. Zaporizhzhia is Europe’s largest nuclear power plant and the fighting raised fears about safety there. Zaporizhzhia is about the same distance and direction as Kherson from Kyiv. Residents in the region are building barricades and setting up firing positions. AP

In this satellite picture provided by Planet Labs PBC, fire and smoke is seen at Kherson International Airport and Air Base in Kherson, Ukraine on Tuesday, March 15, 2022. A suspected Ukrainian strike on the air base damaged Russian helicopters and vehicles Tuesday. Planet Labs PBC via AP

A10 Thursday, March 17, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Will nuclear power brighten our future?

rab members of Opec imposed an oil embargo in 1973 against the United States and other nations that supported Israel during the Arab-Israeli War. The initial targets were the US, Canada, Japan, the Netherlands, and the United Kingdom. The embargo was later extended to Portugal, Rhodesia and South Africa. The oil supply disruption led to major price increases and worldwide energy crisis. The Philippines greatly suffered because 100 percent of the country’s electricity was produced using oil. The sudden spike in oil prices forced the government to diversify the power mix. The Marcos administration saw nuclear power as part of the solution to meet the country’s growing energy demands. Construction of the first and, to this date, only nuclear power plant began in 1976 in Morong, Bataan, and was finished in 1984 at a cost of $2.3 billion. The 620-megawatt Bataan Nuclear Power Plant was supposed to be the first of two nuclear plants to be built in Bataan. It was also the first nuclear power plant in Southeast Asia, which was shelved in the wake of the Chernobyl disaster in 1986. Executive Order (EO) 164, which was signed by President Duterte on February 28 and announced to the media on March 3, outlines the country’s national position for a nuclear energy program. In the five-page issuance, the President ordered the Department of Energy to develop and implement the Nuclear Energy Program as part of the Philippine Energy Plan and assist the Nuclear Energy Program Inter-Agency Committee in its functions. The measure is part of the government’s initiative to address the expected increase in demand for clean energy. (Read, “Duterte signs E.O. for nuke in PHL energy mix,” in the BusinessMirror, March 3, 2022). “Nuclear power shall be tapped as a viable alternative to baseload power source along with alternative resources, to address the projected decline of coal-fired power plants which come under increasing environmental opposition,” the EO said. The Department of Energy has already banned new coal power projects. The projected demand for clean energy is seen growing at 4.4 percent a year, requiring almost 68 gigawatts of additional capacity by 2040. “Considering this demand and the depletion of natural gas resources, nuclear power will play an important role to contribute to the required capacity to achieve energy security, especially to meet the needs of an emerging upper middle-income country,” the EO said. Rep. Joey Salceda sees the EO as a timely initiative: “We spend around P40 million every year to maintain BNPP. That means we’re spending that much on a white elephant. I think part of the mandate of the EO, which is to review the BNPP, has to include whether we should already totally decommission the asset as scrap metal, if it’s really dangerous and unsafe.” He added that Congress may consider a “franchise approach” to operating the BNPP. “I think we should bid it out as a public-private partnership and grant its operator a franchise. The thing with nuclear power plants is the gestation period for the investment requires several decades. So our private partner will need the political and legal security of a franchise from Congress. That is definitely on the table, and I will tell President Duterte to consider that approach as well.” (Read, “Nuke can do,” in the BusinessMirror, March 5, 2022). For Sen. Sherwin Gatchalian, chairman of the Senate Energy committee, transparency “is the most important factor in any discussions on nuclear power.” The Senate, he said, has funded the Department of Energy’s nuclear research and feasibility study of P266 million since 2018. “This study should be made public in order for the Filipino people to understand the risks and benefits of nuclear power injected into our energy mix.” The senator lamented that the 18th Congress, with just few session days left, has no time to enact any nuclear power-related proposed laws. “It will be up to the next administration to decide whether the benefits of nuclear power outweigh the risks and pursue nuclear as a source of power for our country,” he said. As the Ukraine war rages and continues to drive oil prices skyward, we should learn the lessons from the past and catch up with the missed opportunities. The Philippines is facing a bleak reality: The Malampaya gas fields that supply 30 percent of Luzon’s energy consumption are expected be depleted by 2024. Thanks to our heavy reliance on imported oil, power cost in the Philippines is among the highest in Southeast Asia and is considered relatively high compared to global standards. Will nuclear power be the answer to the country’s impending power crisis?

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OUTSIDE THE BOX

ombining the “Roman Republic” and the “Roman Empire,” they had a good run of almost 1,000 years. It is the Empire that gets all the publicity as the Republic spent most of the time subduing the locals into what became the Empire. For the first 200 years—until about 175 AD—of the Empire it was all Pax Romana. Then things started deteriorating. You might think that the fall of the Roman Empire was all about invading barbarians and that was a part of it. Actually, though, ancient Rome ended with a whimper and not a bang. At the height of the empire, Rome’s population was 450,000 and probably higher. At the end, the population had fallen to less than 30,000. The surrounding farms were emptied out, the soldiers left to become mercenaries, and business closed up shop. They killed a city because the government “killed” the money. In 180 AD Roman coins contained four grams of silver and by 260 AD—80 years later—there was almost no silver in the coins. By 286 AD the capital of what was left of the Empire moved to Mediolanum, the ancient city where Milan now stands. The “why” of the monetary debasement is another story, but the

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All About Social Security

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results were the same as now. When the money loses value, confidence in government disappears, leading to economic ruin. However, the difference is now the government can create money through “artificial” borrowing, artificial in the sense that the debt is never paid back in full. It’s all good. But this new system requires that everybody play the same game. In ancient Rome, people could move someplace else where the money still contained viable amounts of silver. The same is not true today. When US President Franklin Roosevelt changed the dollar value of gold, everyone had to go along and all currencies went with the flow. The same was true when Nixon stopped converting dollars to gold, although everybody else beat him to that policy leaving the US with no other choice. Often something comes along that upsets the system, and that is now Russia and the Russians being cut out of the global economic system. We have been talking about the

All the babble about economic sanctions against Russia centers only on one thing. Get Russia to default on its debt. Do you think that stealing a billionaire Russian’s mega-yacht means anything? That is feel-good nonsense for the public fools, the sheeple. But get the default and Mother Russia’s currency becomes worthless. “Death Of The Dollar” for decades. It has not happened because The Dollar replaced gold as the global “reserve currency.” Currency is no longer backed by a hard asset but by the debt of the nation that issues the currency, and the US had and still has the overall strongest economy in terms of the balanced factors of size, growth, and political stability. This is how a “reserve currency” operates. In 1900, you could buy a top-quality suit of clothes for one ounce of gold in New York, London, Berlin, Vienna, St. Petersburg, Bombay, Shanghai, and Tokyo. Due to variations in the local economies, included in the price might also be shoes, hat, and a night at the local cabaret. But gold as the US dollar is now, was universally accepted and held approximately the same value across the continents. “Yuan jumps after report Saudis consider its use in oil deals” is fine for bilateral trade. But notice “Yuan jumps.” Where did “yuan jump?” Against the US dollar. How many bitcoins to buy a suit

in New York, London, Berlin, Vienna, St. Petersburg, Bombay, Shanghai, and Tokyo today? You first have to check the BTC exchange rate to the United States Dollar, the currency of the land of the free and the home of the brave...and the global reserve currency no matter how much SaudiChina yuan trade. It is going to change eventually as governments led by the US debase their currencies not by reducing the amount of silver in the coins but by “debasing” the debt, which backs currencies. All the babble about economic sanctions against Russia centers only on one thing. Get Russia to default on its debt. Do you think that stealing a billionaire Russian’s megayacht means anything? That is feelgood nonsense for the public fools, the sheeple. But get the default and Mother Russia’s currency becomes worthless. However, read these headlines. “January 31, 2019: Central banks bought a net $27bn worth of gold last year (2018), driven by Russia, whose net purchases were the highest on record.” “July 21, 2020: Turkey scrambles for gold, overtaking Russia as top buyer.” “India spends record $55.7 bln on gold imports in 2021.” “March 8, 2022: Are we heading for World War Three?” WW3 started a couple of years ago. They just didn’t tell you. 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.

‘I will cherish the relationships I have built with my SSS colleagues and co-workers’

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

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

World War Three

O the new SSS President & CEO, Michael Regino, distinguished members of the Social Security Commission, my colleagues and co-workers in SSS, friends, and to my immediate family, Mga KASAMANG KAWANI SA SSS! Mabuting araw sa ating lahat! Everything in life here on Earth has a beginning and an end. It was at this hallowed Ramon Magsaysay Hall that the mantle and flag of SSS was turned over to me by then-President and CEO Emmanuel F. Dooc as the 18th President and Chief Executive Officer of our beloved institution. This was after I was given the trust and confidence of our President, Rodrigo Roa Duterte to lead

the SSS. Of course, I was nervous at first given the enormousness of the task at hand. Who would not get nervous when I know that, to paraphrase the running joke of our dear President: “I was just an ordinary student then who was used to getting grades of 75s.” Kidding aside, at least I knew I did well in my college days. But the encouraging words from immediate

family and my friends from the private and public sectors built my confidence. I am grateful to them. It has been three years since that important and memorable moment. And as we all know, the President has given me another assignment. I will cherish the personal relationships I have built with the wonderful people in this institution, but I will cherish more the wonderful work we did together to make our products and services respond to the needs of our members. Let me just recall some of these wonderful things that we have done together for our institution and our stakeholders: 1. Online filing for most of the transactions through the web site and mobile app. Other requests can now be submitted online through the USSSAPTayo Portal. These are all under our transformative digitalization thrust. 2. Implemented the (a) various relevant provisions of the SS Act of

2018; and (b) the five pandemic relief and restructuring programs 3. Garnered various governance and service awards from esteemed partners, among others. All other key accomplishments have been sufficiently recorded and evidenced through various management reports. I recall that one of the first actions I took as your SSC Chairperson was to ensure the fair, efficient and effective conduct of board meetings by enforcing parliamentary procedures as contained in the Robert’s Rules of Order. Let me thank the Commission Secretariat office for the support and for allowing me to execute these actions. The same principles of fairness, efficiency and effectiveness governed the management framework I have adopted in my commitment and resolve at making good and improving SSS’s services to the approximately 41 million members as PCEO. See “Ignacio” A11

Opinion BusinessMirror

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Thursday, March 17, 2022 A11

Broken family and A worried transport sector in limbo psychological incapacity Val A. Villanueva in annulment cases Businesswise

Dennis Gorecho

Legal bytes

sychological incapacity in annulment cases may be attributed to the hostile home environment of the spouse who is a product of a broken family.

In the case of De Silva vs De Silva (GR 247985, October 13, 2021), the Supreme Court took cognizance of the psychiatrist’s report, which explained that husband’s psychological incapacity was rooted in his upbringing long before his marriage. The wife cited in the annulment case, among others, incidents when she would fail to hand over money for the husband’s ardent gambling, she would be subjected to physical and verbal abuse. The wife also found out that aside from h i s drinking and gambling, the husband maintained several extramarital affairs. The report noted that the kind of relationship that the spouses have created is seen to be parasitic in the sense that the husband is feeding off from the efforts of the wife. The psychiatrist was able to trace the history of the husband’s psychological condition and relate it to his existing incapacity at the time of the celebration of the marriage through interviews of the parties and the relatives. It was his hostile family environment that deprived him of his awareness of the duties and responsibilities of the matrimonial bond he assumed. The husband developed traits such as untrustworthiness, irresponsibility, aggressiveness, lack of compassion and remorse antedating the marriage. The Court said that the culprits behind the development of these antisocial traits of the husband are the kind of parenting style that he was raised to and the home environment that he was exposed to during the early years of his life. The broken family set-up and the actuations of his parents during the early years of his life have molded him into the kind of person that he became. Having no good example to influence the husband in a healthy functioning and straighten his maladaptive manner of going about his expected tasks and roles, he had persisted to be reckless, immature, rebellious, and insensitive. From childhood until adulthood, the husband failed to change and his irresponsible ways have become more prominent when he reached the latter stage of his development. The marriage had deteriorated due to the psychological incapacitation of the husband as well as the relative psychological disturbance that the wife suffered from.

Ignacio . . .

continued from A10

As we started improving our systems and operations processes, the Covid-19 pandemic happened globally. The pandemic disrupted the initial plans and were re-prioritized. The re-prioritization was anchored on the implementation of the government’s key program, the Small Business Wage Subsidy (SBWS) to alleviate the impact of the pandemic to our members and their families and providing a safe and secure environment to our members while doing their transactions with us. I recall the challenge we faced then—the limited time coupled with limited mobility and strained interactions because of the physical

Article 36 of the Family Code holds that “a marriage contracted by any party who, at the time of the celebration, was psychologically incapacitated to comply with the essential marital obligations of marriage, shall likewise be void even if such incapacity becomes manifest only after its solemnization.” The Supreme Court reiterated its ruling in the recent case of TanAndal v. Andal (GR 196359, May 11, 2021) that psychological incapacity is a legal concept, not a medical one, where the testimony of a psychologist or psychiatrist as evidence is not mandatory in the declaration of nullity of marriage cases. The unanimous decision modified the interpretation of requirements of psychological incapacity, which was penned by my UP Law Professor, Justice Marvic Leonen. The Supreme Court noted that psychological incapacity refers to a personal condition that prevents a spouse to comply with fundamental marital obligations only in relation to a specific partner that may exist at the time of the marriage but may have revealed through behavior subsequent to the ceremonies. The totality of the evidence must show clear and convincing proof to cause the declaration of nullity of marriage. While ideally, the person to be diagnosed should be personally interviewed, it is accepted practice in psychiatry to base a person’s psychiatric history on collateral information, or information from sources aside from the person evaluated. This is usually done if the patient is not available, incapable, or otherwise refuses to cooperate. The Supreme Court added that it need not be a mental or personality disorder. It need not be a permanent and incurable condition. Article 36 of the Family Code holds that “a marriage contracted by any party who, at the time of the celebration, was psychologically incapacitated to comply with the essential marital obligations of marriage, shall likewise be void even if such incapacity becomes manifest only after its solemnization.”

he decision of the Land Transportation Franchising and Regulatory Board (LTFRB) on March 8 to allow the operations of the Provincial Public Utility Buses (PUBs) on inter-regional routes has not lifted the spirits of bus operators whose bottom line has been languishing in the red. This could have been a welcome development for an industry battered by the pandemic, if only the government has also allowed them to use their own bus terminals located in Metro Manila. Worse, such restrictions could also prove tortuous for the public now that commerce is slowly returning to pre-pandemic operations. Former Sen. Nikki Coseteng reached out to BusinessWise in reaction to the February 10 column we wrote about the issue. “I’m actually advocating for the same reasons cited by thousands of commuters affected by this flawed government project in your column,” she said, “[although] I don’t have an interest here. I’m not a bus operator and neither am I running for a government post.” The former senator said that serving the public did not end when she “retired” from public office. “You see, I don’t make a big deal of the services I render to the public in my private capacity. I usually don’t seek publicity from the things I do, but I just can’t turn down people who seek for my help specially if their grievances warrant action.” Coseteng described the government policy as callous. “It’s not only flawed but insensitive to the plight

of both the transport sector and the riding public.” In LTFRB’s Memorandum Circular No. 2022-023, all PUB Operators with valid Certificate of Public Convenience (CPC), Provisional Authority (PA), and Special Permits are allowed to resume operations and use only designated end-point terminals to and from Metro Manila. Coseteng said that this recent policy does not change anything because provincial buses are still prohibited from using their respective terminals in Metro Manila. She explained that commuters have to take several hellish rides to reach their respective destinations, which is demonstrated in a video she sent to BusinessWise. The video showed her changing public vehicles several times—from a jeepney to a tricycle just to reach the government designated bus terminal in Bocaue, Bulacan, coming from Cubao. She said that what makes it even more revolting (as shown in the video) was that the LTFRB-designated terminal was empty of buses. “I have repeatedly challenged Department of Transportation Secretary [Arthur] Tugade and all government officials to get off their luxury cars and SUVs and instead use public

transportation for 30 days for them to feel how they punish the commuting public,” Coseteng fumed. “It’ll make your blood boil to see how the commuters suffer from this loosely thought out traffic solution. What if it rains? What if the temperature soars, now that summer is upon us? Just think of the burden commuters have to go through just to get to and from their respective offices and schools.” Despite repeated pleas from bus operators, Coseteng added, Tugade’s intransigence in enforcing the provincial bus ban along Edsa is disastrous. Earlier, the Nagkakaisang Samahan ng Nangangasiwa ng Panlalawigang Bus Sa Pilipinas Inc. (NSNPBSPI)—an organization composed of legitimate provincial bus companies—claimed that the routes that were previously allotted to them have been taken over by “colorum” vehicles. The group laments that this development adversely affected the financial viability of legitimate provincial buses. In 2019 the LTFRB issued Memorandum Circular 2019-031 which calls for the establishment of three government-built integrated terminals to serve as provincial bus terminals in lieu of their own. Northbound provincial buses were directed to board and offload passengers at the Sta. Rosa (Laguna) Integrated Terminal in Laguna and at the Parañaque (City) Integrated Terminal Exchange. Buses coming from the north were ordered to use the North Luzon Express Terminal in Bocaue, Bulacan. Tugade justified the move as necessary to unclog traffic along Edsa. He said that bus terminals were one of the biggest causes of heavy traffic on Edsa. Coseteng said the LTFRB policy

is “anti-business.” She said that bus companies had spent millions in constructing their terminals; and, despite the provincial bus ban in Edsa, heavy traffic still persists. “This just proves that the plan doesn’t work and they have to think of other ways on how to balance the need of reducing traffic and keeping the transport business on even keel.” In 2019, the NSNPBSPI won the suit it filed in the Quezon City Regional Trial Court (QCRTC) against both the Metro Manila Development Authority and LTFRB. Presiding Judge Caridad M. Walse-Lutero issued a writ of preliminary injunction against both the LTFRB Memorandum Circulars 2019-031 and MMDA Regulation 19-002. On February 26, 2021, the InterAgency Task Force for the Management of Emerging Infectious Diseases issued Resolution 101, which further restricted the movements of provincial buses. The bus companies felt the economic pain from the full force of the law under this public health emergency act. Bus firms claim that their financial losses have been aggravated by the repudiation of the LTFRB and Land Transportation Office of the QCRTC’s decision. With law enforcers unduly arresting bus firms plying provincial routes, only 10 percent of provincial bus fleets could operate, even if they have state franchises, pay registration and business permits, and operate above board. These bus firms decry how the government turns a blind eye to unfranchised vehicles —which do not pay the government any taxes—that now ply Edsa and cause similar pre-pandemic traffic bottlenecks. For comments and suggestions, e-mail me at mvala.v@gmail.com

North Korea missile ‘failed’ after launch, may have exploded By Jeong-Ho Lee & Shinhye Kang Bloomberg Opinion

Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang and Bulilan law offices. For comments, e-mail info@sapalovelez. com, or call 09175025808 or 09088665786.

orth Korea’s latest missile test appeared to have “failed” shortly after launch, South Korea’s military said, with the incident coming days after reports indicated that Kim Jong Un’s regime was preparing to fire its first ICBM since 2017. The unidentified projectile appeared to have been launched at 9:30 a.m. Wednesday from an area near Pyongyang’s international airport, the Joint Chiefs of Staff said. The rocket seems to have exploded before reaching an altitude of 20 kilometers (12 miles), the Yonhap News Agency reported separately, citing an unidentified South Korean military official. The rocket was launched from the same area where North Korea had in recent weeks reported testfiring satellite systems, which the US said were actually part of an effort to develop a new intercontinental ballistic missile. South Korean authorities were undergoing additional analysis on the specifications of the missile tested Wednesday, a senior JCS official told reporters. Loud sounds like those of an

aircraft were heard in Pyongyang at the time of the launch followed by a crash, multiple witnesses told specialist service NK News. Another witness also reported seeing reddish smoke, the outlet said. The US Indo-Pacific Command condemned the launch of what it described in a tweet as a “ballistic missile” and said it was consulting closely with South Korea, Japan and other regional allies. While North Korea is banned by United Nations resolutions from conducting any ballistic missile tests, Kim may believe he can escape further penalties with traditional backers in Moscow and Beijing united against US-led sanctions over Russia’s invasion of Ukraine. C h inese Foreig n Minist r y spokesman Zhao Lijian said at a regular press briefing Wednesday in Beijing that China didn’t support any action that “escalates tensions” in the region. “We hope to see sustained peace and stability on the Korean Peninsula and believe all parties should make positive efforts to promote dialogue and peace talks,” he said. The suspected launch comes as a new president, Yoon Suk Yeol, prepares to take power in South

Korea. Yoon -- a conservative, who takes office in May -- has pledged to advance a hawkish line on foreign policy that would bolster the alliance with the US. The US has dispatched an aircraft carrier to the nearby Yellow Sea in response to the tests in recent weeks from North Korea. While details of the launch remain sparse, a mishap could be North Korea’s biggest missile failure since August 2017, when a suspected ballistic missile broke into pieces. In April 2012, Kim’s regime test-fired a long-range rocket that disintegrated shortly after liftoff, an embarrassment for the state that came just ahead of the 100th anniversary of the birth of its founder, Kim Il Sung -- the grandfather the current leader. North Korea may now be preparing for a massive military parade to mark the 110th anniversary of his birth on April 15, according to reports based on satellite imagery. The country typically doesn’t comment on any test until a day after the event. South Korea and the US have detected signs of an imminent test of an intercontinental ballistic missile, Yonhap reported Sunday, citing unidentified South Korean govern-

ment officials. The US had said earlier that North Korean launches on Feb. 26 and March 4 were intended to test elements of an ICBM that weapons experts believe could be armed with multiple warheads. North Korea’s last test of an ICBM was in November 2017, when it fired a Hwasong-15 with a range that experts said could strike all of the US mainland. It was a major breakthrough in Kim’s efforts to deliver a nuclear weapon to any American city. US officials have said the latest tests point to a launch of the Hwasong-17, which is believed to be the world’s largest road-mobile missile of its kind. The weapon, which is bigger and likely has more powerful engines than earlier systems, was displayed at a military parade to mark the 75th anniversary of the ruling Workers’ Party in October 2020. “Based on my read of the current set of indicators, I have little doubt that Kim Jong Un is ramping up his military modernization agenda, with a focus on ICBMs and new nuclear weapons designs,” said Ankit Panda, a senior fellow in the nuclear policy program at the Carnegie Endowment for International Peace.

distancing required. Indeed, there was very limited time to design and develop the systems, and flow of operations for the nationwide disbursement program. Fortunately, our IT Team, the SBWS Task Force, the various business process owners, and all others who were part of the Team did not give up during that most difficult phase of development and implementation. And who could ever forget the four meetings within a day, 7 days a week for several months until the end of the program? We successfully administered the distribution of the SBWS and implemented online systems of our processes over various digital platforms and service delivery channels. We are fortunate that Secretary Dominguez entrusted to us the task of administering the funds and distribution of

the subsidy to more than 3 million beneficiaries nationwide. And just for all the stresses and aggravations we experienced to set this on stream, we will always equate SBWS as one of our key accomplishments in the years to come. Despite the apparent suddenness and abruptness of the announcement of my transfer, I would like to think that with the commitment and determination of our workforce, we have successfully transformed the institution to become better, more responsive to the needs of the stakeholders and certainly more sustainable. My sincerest thanks as well to our Chairperson, Secretary Carlos Dominguez, for the support and guidance over the last 36 months and the members of the commission for their kindness, support and cooperation to all our

initiatives. I am grateful to the Office of the PCEO and Vice-Chairperson for their tolerance and kindness. Those virtues coupled with your energy produced results that were positively judged. Thank you as well to the different units who continued to report to office full-time despite the various pandemic lockdowns. To the funding units, different BPOs and support units, policymaking units, strategy management, branches and our operations units, who did not stop to provide the necessary programs, implement enhancements to continuously and creatively served our members’ requirements. Thanks to our Communications team for the patience and perseverance in the language and content development, and the correspond-

ing design of art cards for easy understanding and reference of our members and colleagues. Thanks to our Corporate Services Group and the Medical Services Division in creating the appropriate work arrangement, and the necessary support to our employees and ensuring that almost all get vaccinated. Thanks to our drivers who braved the constant contact with people just to bring our employees to their workplace. I thank as well our security officers and maintenance people who ensured the health and safety of our staff while in office. Last but not the least, our members who continue to trust and support SSS. Yes, I am sad leaving SSS, especially leaving all of you whom I have learned to love and respect. But I am comforted by the thought that I have done my part,

and with your cooperation, delivered what was expected of me. I commend everyone here for successfully taking the ride with me and surmounted challenges we all faced together in the most difficult time in SSS. I also would like to thank and congratulate our new President and CEO Michael Regino for accepting the position and the challenges that come with it. I urge everyone to please extend to him the same level of support you gave me. I am sure he will do well and SSS should be better than where it is now under his leadership. And now as I have said earlier that everything here on Earth has a beginning and an end, the time has come for me to turn over to our new President and CEO Michael Regino the mantle and the flag of SSS. Thank you. To God be all the Glory.

A12 Thursday, March 17, 2022

CHINA WPS BULLYING PERSISTS–LORENZANA By Rene Acosta

@reneacostaBM

EFENSE Secretary Delfin Lorenzana has told a diplomat from the European Union that China has not stopped its harassment and provocations in the region, citing even a recent case of a Chinese vessel trying to ram a warship of the United States in international waters. Lorenzana held a candid talk with European Union Ambassador to the Asean and concurrent EU Special Envoy to Myanmar Igor Driesmans who paid him a visit at the Department of National Defense last week. During his visit, Driesmans was briefed by Lorenzana on the development in the South China Sea, wherein the defense secretary said that “harassment and provocations from China” continue, taking as an example the attempt of a Chinese ship to ram a US Navy vessel as it sailed in the South China Sea. On Monday, the Philippines protested the intrusion of a surveillance ship from the Chinese navy into the Cuyo Group of Islands and Apo Island in Palawan

and Mindanao, respectively, in January. China claimed, however, that its ship was exercising an innocent passage under the United Nations Convention on the Law of the Sea (Unclos), which it does not recognize in the cases of the Kalayaan Island Group and the West Philippine Sea by swarming it with Chinese vessels. The Department of Foreign Affairs belied China’s claims of innocent voyage. D u r i n g t he i r me e t i n g , Lorenzana thanked Driesmans over EU’s continued calls for China to respect the Philippines’s rights over the KIG and the WPS and to adhere to rules-based order in the South China Sea. Driesmans thanked Lorenzana for the Philippines’s support to the UN Resolution against Russia on its attack on Ukraine. T he EU ambassador expressed EU’s commitment to work with the Asean as he hoped the regional bloc will act on the EU’s application to the Observership Program of the Asean Defense Ministers’ Meeting (ADMM)-Plus Experts’ Working Groups (EWGs).

Govt eyes Samurai bonds issue before Duterte leaves T By Bernadette D. Nicolas

@BNicolasBM

HE government is looking to issue yendenominated Samurai bonds before the Duterte administration ends on June 30 to raise funds for the government, Finance Secretary Carlos G. Dominguez III said.

“Definitely we’re looking at the samurai market. But basically, we rely on our domestic market to the extent of 70 or 72 percent of our bond financing. The foreign financing is just less than 30 percent of our total package,” Dominguez said in an interview on Wednesday with Bloomberg Asia. For this year, the government has set a P2.2-trillion borrowing program. In the meantime, the finance chief said they are currently working on developing the local capital markets together with the support of the monetary policies in reducing the reserve requirements of banks. In March last year, the Philippine government raised ¥55 billion (US$500 million or about P24.2

billion) in its sale of 3-year zerocoupon Samurai bonds, marking its successful return to the said market after more than a year of hiatus. This was also the first-ever zerocoupon bond transaction issued in the Samurai bond market, according to the Bureau of the Treasury. In 2020, the Philippine government shelved its plans to issue Samurai bonds and renminbidenominated Panda bonds as the Bangko Sentral ng Pilipinas recently approved a P540-billion advance credit to help the government cover a budget deficit that swelled on the impact of the Covid-19 pandemic. On the government’s planned maiden issuance of at least US$500 million in green bonds in the offshore debt market, Dominguez said

they are still evaluating the market and they have yet to make a final decision on it. The government earlier said it aims to offer its first-ever green bonds in the offshore debt market to raise funds for the country’s clean energy projects and other sustainable initiatives to mitigate the effects of climate change. “As you know, the market is very volatile and we are taking a very, very close look at the issuance of our green bonds which is in the pipeline. We have not yet made a final decision on that, but we are going to be ready as soon as the market conditions.... improve or stabilize,” he said. In the same interview, Dominguez also expressed concern over the United States’s sanctions against Russia’s central bank, effectively barring Americans from making transactions with the bank and freezing its assets within the US. While Dominguez said this sanction against the Russian central bank will “have no effect” on the Philippines since the country’s trade relations with Russia and Ukraine are limited, this move will “certainly affect world trade” and continue the

pandemic-induced disruption on logistics and ease of doing business, particularly in Europe. “We are concerned that there might be an effect on the vigorousness of the economies in Western Europe and The United States who are our big trading partners. So, you know, we are concerned, we are not directly affected by these sanctions, but we are quite concerned on the effects on the overall world economy,” he said. On J.P Morgan Chase & Co’s assessment that the Philippines’s GDP will incur a 0.4 percentage-point drop on the back of soaring global oil prices following Russia’s invasion of Ukraine, Dominguez said the geopolitical tension’s impact on the local economy would really depend on how long with the crisis last. “The longer it takes, obviously, the worse it’s going to be for everyone because of the uncertainties in the commodity markets and the financial markets. So while we’re taking a close look and we are looking at the possibility that this crisis will end soon, although we realize that there’s going to be a bit of a long tail in getting back to normal again,” he said.

‘New Covid variants pose risk to growth’

HE outbreak of a new variant that would disrupt economic activities for two quarters could reduce the country’s economic growth by 0.4 percentage points, according to the Asian Development Bank (ADB). At the launch of the report titled, “Southeast Asia: Rising from the Pandemic,” ADB Southeast Asia Department Senior Economist James P. Villafuerte said this projection is based on a new pessimistic scenario used to estimate growth in the region. Villafuerte said the average impact on the region is quite significant with a reduction of 0.8 percentage points. In some parts of Southeast Asia such as Thailand and Vietnam, the impact is larger than 1 percentage point. “If we factor in at least two waves, that could disrupt activities for two quarters in 2022. What we are seeing actually is that the outlook for 2022, as we predicted in December last year, could be 0.8 percentage points lower,” Villafuerte said. “This is actually quite large.” Villafuerte said one risk factor this year is for more Covid-19 variants and Covid-19 waves to enter the countries in the region, including the Philippines. Based on the December outlook of ADB for the country’s growth, the Philippine growth is projected at 6 percent this year. Given the pessimistic scenario by ADB, this would mean the country’s GDP growth would be slower at around 5.6 percent this year. This will compound the challenges faced by the Philippines and other countries in Southeast Asia—including the significant job losses and threat of rising poverty in the region. Villafuerte said it is estimated that the pandemic has rendered jobless as many as 10.6 million people in Southeast Asia in 2020 and some 9.3 million in 2021. With this, some 5.4 million people in the region will fall into poverty in 2020 and 4.7 million in 2021. This takes into account those living below $1.9 per day. This is a reversal of the trend

seen prior to the pandemic. Villafuerte explained that if the pandemic did not happen, the region would have seen only 13.1 million poor people in Southeast Asia. This would represent a reduction of 1.1 million from the 14.2 million recorded in 2019. “These impacts are actually quite worrying because it can actually be the source of scarring. And much of this impact is arising from the large unemployment or jobs losses, which average about 10 million a year relative to the no Covid-19 baseline in 2020 and 2021,” Villafuerte said.

Scarring

ADB said the effects of the pandemic on the labor market will be long-lasting and have the potential to exacerbate poverty in the Philippines. The Manila-based multilateral development bank expects the changes in the job market to cause more mismatches; higher demand for new skills; and a greater number of job seekers. This could prevent workers from getting employed and increase the possibility of swelling the ranks of the poor. This will widen inequality and may have the capability to transcend generations. “ The pandemic’s impact on poverty and unemployment will likely persist as inactive workers become de-skilled and poor people’s access to opportunities further deteriorates. When this happens, the deterioration in inequality will transfer across generations,” ADB said. The report said skills mismatches will be more common given that the changes in the workplace will make it difficult for certain workers to transition to other sectors. The pandemic, ADB said, has prompted industries such as accommodation, food services, transportation, and recreational services to close. The workers in these industries had to find employment elsewhere and the transition has not been easy due to the differences in skills and experience. Continued on A8

FIREFIGHTERS work outside a destroyed apartment building after a bombing in a residential area in Kyiv, Ukraine on Tuesday, March 15, 2022. Russia's offensive in Ukraine has edged closer to central Kyiv with a series of strikes hitting a residential neighborhood as the leaders of three European Union member countries visited Ukraine's embattled capital. Stories on the Ukraine crisis, page A9. AP PHOTO/VADIM GHIRDA

More Pinoys to access medical benefits in ’22 By Cai U. Ordinario @caiordinario

ORE Filipinos are expected to avail themselves of their medical benefits this year as Covid-19 restrictions become less stringent, according to Mercer Marsh Benefits’ (MMB) Health Trends Report. While medical trend rates remain below prepandemic levels, Mercer’s data showed this is expected to increase in the Philippines to 11.5 percent in 2022. This is almost three times Mercer’s projected average inflation rate of 3 percent this year. In 2021, the medical trend rate in the country increased 9 percent while the 2020 rate contracted 5 percent. The contraction in 2020 was largely blamed on restrictions that prevented Filipinos from accessing medical services. “A full return to normal usage of health services will depend on how the pandemic evolves. It’s interesting to note, despite the fact

that medical utilization is not at prepandemic levels, the cost to support them have unfortunately soared—this is exacerbated by deferred health treatments which unfortunately, may have more adverse outcomes which leads to higher costs,” MMB Asia Regional Leader Managing Director Joan Collar said. The expected medical trend increase in the Philippines is above the average in Asia at 10 percent. India’s medical trend is forecasted to post the fastest growth at 14.6 percent this year. This is followed by Indonesia at 13.6 percent; Malaysia and Taiwan at 11.6 percent; the Philippines; and Vietnam at 10 percent. The rest of the economies in Asia are expected to post single-digit growth in medical trends this year. “Employers and individuals are advised to run periodic health checks on their benefits and claims experience, to ensure sustainability on their programs so as to avoid surprises,” Collar added.

Mental health

MERCER also noted that one in two employees in Asia say they highly value insurance coverage for mental health, yet only 1 percent of insurers in Asia regard mental health provision as a key priority. As the pandemic continues to disrupt day-to-day life globally, Mercer noted that access to mental health care is critical for a healthy and productive workforce. Asia insurers continue to lag behind their global counterparts in terms of mental health support. Seven out of 10 European and Latin American insurers offer mental health counselling, compared to just one in three or 34 percent of insurers in Asia. Likewise, one in three insurers in Asia, compared to 26 percent globally, do not provide plans that cover mental health services. Insurers in Asia also fall behind in mental health coverage for outpatient treatment at 36 percent and preventative measures at 21 percent, compared with the global average of 43 percent and 28 per-

cent, respectively. “The pandemic has shown how integral employee mental health is to the success of a business. The insights we’ve gathered suggest that employers may have to continue to advance their corporate mental health and well-being agenda independently of their insurers,” Collar said. “Companies should make establishing or reviewing their mental well-being strategy a top priority in 2022. This is an opportunity for employers to reinvent their programs, identify gaps, address employee preferences and cover needs across the entire spectrum of mental health conditions,” she added. The Health Trends Report surveyed 210 insurers across 59 countries to examine the top trends shaping the future of employerprovided health care. This included three providers in the Philippines namely, Maxicare Healthcare Corporation, Medicard Philippines Inc., and The Insular Life Assurance Co. Ltd.

Companies

Editor: Jennifer A. Ng

Thursday, March 17, 2022

Asian Terminals allots ₧5B for 2022 capex program

By Lorenz S. Marasigan

@lorenzmarasigan

sian Terminals Inc. (ATI) said on Wednesday it has set aside a budget of P5 billion for its capital expenditures (capex) program for 2022, which will include the upgrade of its terminals to support the supply chain.

The investment program will be used to “support ongoing ports and logistics infrastructure projects across key sites in Manila, Batangas and Laguna as well as the acquisition of more modern and eco-friendly equipment in step with its growth strategy and in line with its investment commitment with the port authority.” “As a trade enabler, we are very bullish of our infrastructure projects which would enable us to deliver faster, safer, and market-responsive

services to our customers and further contribute to the country’s post-pandemic economic recovery,” ATI Executive Director William Khoury said. For the Manila South Harbor, ATI will be expanding the terminal’s yard and berthing facilities to bring its capacity from 1.4 million twentyfoot equivalent units (TEUs) to 2 million TEUs by 2024. ATI is also upgrading the Batangas Passenger Terminal (BPT) to become the “biggest, best, and busiest interisland transport hub in the

Photo from www.asianterminals.com.ph

country.” The first phase of the BPT expansion will be operational next quarter in time for the summer peak season. Upon full completion in 2023, the new BPT will resemble the fast-craft terminals in Hongkong and Macau, featuring fully airconditioned boarding lounges, food and entertainment kiosks, and other modern amenities, including facilities for differently abled passengers. ATI reported a 24.3 percent decline in net income to P2.95 billion

in 2021 due to increases in cost and a flattish top line of P11.16 billion. The company operates the Manila South Harbor, the Port of Batangas, Batangas Container Terminal and off-dock yards in Sta. Mesa, Manila and Calamba, Laguna. “Collectively, these vital trade and transport gateways provide comprehensive ports and logistics services for containerized cargoes, bulk and break-bulk cargoes, project and rolling shipment and passengers,” ATI said.

GNPD coal-fired power plant trips By Lenie Lectura @llectura

he 668-megawatt (MW) supercritical coal-fired power plant of GNPower Dinginin Ltd. Co. (GNPD) tripped Wednesday morning due to faulty sensor, an official of Aboitiz Power Corp. said. The incident led to a power interruption affecting some customers of the Manila Electric Co. in parts of Manila, Quezon City, Pasig and some portions of Bula-

can, Cavite, Quezon and Laguna. Power restoration was recorded at 10:30 a.m. AboitizPower President Emmanuel Rubio said the incident was “a minor relay concern” and was caused by a faulty sensor. “We can go back as soon as we replace the sensor but we will take advantage of the situation to make the necessary adjustments in other areas,” said Rubio. GNDP is an Aboitiz-controlled firm that has partnered with Ayala

Corp.’s power. GNPD Unit 1 officially started commercial operations last January 26. Unit 2, which has started commissioning, is set for initial synchronization in the second quarter of 2022. It received from the Energy Regulatory Commission (ERC) in December last year its 5-year Certificate of Compliance for the first unit. Rubio added that the incident will also allow the power firm to resolve all issues that it has encountered since it started com-

mercial operations. AboitizPower has over 1,000 MW of projects under construction that are expected to operate commercially this year. These include the PV Sinag Power Cayanga project, TMI Maco Hybrid Battery Energy Storage System project. The company targets to significantly grow its Cleanergy brand by 3,700 MW, both domestically and internationally, and bring its renewable portfolio to 4,600 MW by 2030.

Stocks surge as China pledge revives risk appetite CEB: 85% of active flying crew S now boosted

ebu Pacific (CEB) has achieved an 85-percent booster vaccination rate for its active flying crew, inspiring confidence and safety given the expected uptick in travel demand, especially as summer approaches. This is part of the airline’s commitment to ensure the safety of passengers, while flying with CEB, both for passengers and crew alike. CEB’s entire workforce is now 81 percent boosted. This feat has been attained through joint efforts of the CEB/JG Covid Protect Vaccination Program, along with various partnerships with LGUs in the country. “We are very happy to share this win with everyJuan as we all see travel opening up again, not only within the Philippines, but even to some international destinations. We want to keep doing what we can to make sure our passengers fly with peace of mind on CEB,” said Felix Lopez, Vice President for People Department at Cebu Pacific. The COVID Protect program is part of the Gokongwei Group’s initiative for all its business units. Through this, CEB employees received free inoculation for themselves and their dependents, as well as third-party workers, such as check-in agents and bag handlers.

tocks surged Wednesday and United States futures climbed as China’s vow to stabilize battered markets lifted sentiment after weeks of worries about war and high inflation. Treasury yields rose ahead of the Federal Reserve rates decision. The Stoxx Europe 600 index jumped more than 2 percent, with technology shares leading the advance as Prosus NV soared as much as 20 percent, rebounding from a record low. Contracts on the techheavy Nasdaq 100 climbed more than 1.5 percent while those on the S&P 500 crested 1 percent. US-listed Chinese stocks soared, with Alibaba Group Holding Ltd. and Baidu Inc. both up at least 20 percent in premarket trading, while Didi Global Inc. jumped more than 40 percent. An Asia-Pacific share gauge advanced the most since 2020, a measure tracking mainland companies listed in Hong Kong posted the biggest gain since the global financial crisis and a Chinese tech index added a record 20 percent. China vowed policies to boost financial markets and spur economic growth as it attempted to ease fears over challenges related to the ailing property sector, overseas listings and a clampdown on internet firms. Equities in China and Hong Kong had been under pressure -- shedding about $1.5 trillion over the first two days this week -- in part on speculation that Beijing’s ties with Russia raise the risk of a US backlash. “The market was indeed oversold, irrational, in the dramatic rout, so real money is back doing

‘Demand for PCs will stay strong’ By Cai U. Ordinario @caiordinario

emand for PCs and notebooks will remain robust despite the easing of mobility restrictions and the expected reopening of offices and schools, according to the latest International Data Corp.’s (IDC) Quarterly Personal Computing Device Tracker. Based on the fourth quarter 2021 data, work from home and digitization were the primary drivers of demand for these products, especially in the private sector. Growth was also recorded in gaming- and entertainment-related PC sales in the Philippines last year. “PC demand is expected to remain robust this year as uncertainty about future pandemic outbreaks means businesses, schools and consumers will want to be ready for another lockdown,” IDC said. “Another factor that could drive growth is the digitization of business, growth in e-commerce will drive more spending from private sector.” Some 1.72 million PCs from different brands were sold in the Philippines in 2021 from 1.35 million in 2020 and 1.34 million in 2019, said IDC. Globally, PCs were in high demand with 350 million units shipped worldwide. The share of notebooks in the consumer market went up from 73 percent before the pandemic to 84 percent in 2021. For the commercial market, the notebook share went up from 30 percent in 2018 to 69 percent in 2021. “The PC has become a necessity during the pandemic. While the demand was strong beyond our expec-

tations, due to online learning and work-from-home needs, including notebook PCs, Chromebooks, monitors and others, we did our best to fulfill them,” said Sue Ong-Lim, Acer Philippines General Manager. For the 13th consecutive year, Acer led the PC (desktop, notebook and workstation) market in the Philippines in 2021 with a 27-percent market share on the strength of stay-at-home demand for devices to be used for education and work, said IDC. Acer has led the notebook category in the Philippines for 16 consecutive years, with a record-high 33 percent market share in 2021. It had a 30-percent market share in consumer notebooks and a 34-percent market share in gaming notebooks. In the consumer branded desktop category, Acer had a 31-percent market share in 2021 as it dominated the consumer all-in-one desktop category with a 52-percent market share. In the monitors category, it had a 22-percent market share for 2021. In terms of PCs shipped by the end of 2021, Acer Philippines sold 561,000 units last year from 394,000 in 2020 and 347,000 in 2019. This strong performance was driven by online learning as Filipinos turned to Acer. Other factors that drove growth were the increased need for devices as more Filipinos worked from home and Acer’s multiple product offerings across all market segments and the brand’s value for money proposition. IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets.

Bird: High gas prices will spur more riders

Bird e-scooters in Luxembourg City. Photographer: Stephanie Bodoni/Bloomberg

bottom fishing,” said Castor Pang, head of research at Core Pacific Yamaichi. West Texas Intermediate crude oil advanced, while staying below $100 a barrel. Treasuries fell, taking 10year and 30-year yields to the highest since 2019 ahead of the Fed decision later Wednesday. The yuan strengthened and a dollar gauge dipped. A quarter-point Fed rate increase, the first since 2018, to fight high inflation is widely anticipated but there’s less certainty beyond that. While markets expect a total of seven such moves this year, policy makers also have to factor in growth risks emanating from Russia’s invasion of Ukraine. “We will be closely watching the Fed’s dot plot, which we expect to signal five or six interest-rate hikes this year, more than December’s projections but in line with market expectations,” wrote Lauren Goodwin, portfolio strategist at New York Life Investments. “A dot plot projecting more hiking would likely be a hawk-

ish signal and could result in an earlier yield curve inversion.” In the latest developments from the war, Ukraine and Russia are due to resume talks Wednesday. A key adviser to Ukrainian President Volodymyr Zelenskiy called the negotiations “difficult” but said there is room for compromise. In Russia, President Vladimir Putin said Ukraine’s leadership was not “serious” about resolving the conflict. Russia has begun the process of paying $117 million in interest due Wednesday on dollar bonds. The country would be in default if it doesn’t pay the coupons in US currency within a 30-day grace period, according to credit assessor Fitch Ratings. The ruble strengthened in Moscow trading. Elsewhere, the London Metal Exchange halted nickel trading minutes after it started, citing a technical issue with its new daily limit, as prices plunged immediately when trading resumed after a week-long suspension. Bloomberg News

lectric transportation company Bird Global Inc. gave a forecast for revenue in the first quarter that fell short of analysts’ estimates, but the company expects warmer weather and high gas prices to prompt commuters to look at electric options. Bird, which sells and rents escooters and e-bikes, expects revenue of as much as $36 million in the first quarter, it said in a statement on Tuesday. Analysts had projected $48.8 million on average. Fourthquarter revenue was better than expected, more than doubling to $54 million despite a surge of omicron cases in the winter. Analysts had estimated $50.8 million. The net loss widened to $39.6 million, roughly in line with analysts’ projected $39.7 million loss. Travis VanderZanden, Bird’s founder and chief executive officer, said the first quarter has seen stronger demand from the previous period as omicron cases declined and the weather has improved. “Obviously a lot of things are happening at once here in the springtime

as gas prices are higher, people are going back to the office, tourism is starting to pick up and the weather is starting to get better,” VanderZanden said in an interview. “So a lot of things are going on at once, all tailwinds for us as a business.” Demand for micro-electric vehicles has increased in recent years. In 2021, the US imported nearly 790,000 electric bikes - about 71 percent more than in 2020. E-bike imports in the US have surpassed electric and plug-in hybrid cars for the past two years. VanderZanden said consumer demand has been higher in urban areas where tourists have returned. Bird, one of three e-scooter companies operating in New York, expects its fleet in the city to double in size this spring. Bird’s permit in Washington has also been extended through the end of June. The company went public last November after completing a merger with a special purpose acquisition company. The shares tumbled 5 percent in extended trading after the report. Bloomberg News

Companies BusinessMirror

Thursday, March 17, 2022

Manila Water hiked capital expenditures to ₧13.7B By Jonathan L. Mayuga

@jonlmayuga

anila Water said its capital expenditures (capex) in 2021 reached P13.7 billion, topping the P10.7 billion record in 2020, despite the challenges posed by the Covid-19 pandemic. The company said the figure is the highest capex record since the privatization of water service in the East Zone in 1997. In total, Manila Water has awarded 282 projects in 2021. The company said these projects have been completed through collaboration with government agencies and a healthy pool of contractors, in compliance with international standards. “It is imperative for us to focus our capital spending to meet both our water supply and sewerage service obligations. Despite the challenges, we continue to serve more than 7 million people in the East Zone with safe and reliable water supply, covering over 1.3 million households and with more than 5,000 kilometers of network pipelines,” Manila Water President and Chief Executive Officer JV Emmanuel de Dios said. The company said it invested close to P40 billion in capital expenditures over more than 20

years and will invest over P38 billion more until 2022. “Wastewater coverage in the East Zone is now over 30 percent, equivalent to 2 million people served through nearly 400 kilometers of laid sewer network. This is a significant increase from only 3 percent coverage when we took over operations from MWSS in 1997. These accomplishments, in turn, would not have been possible if not for the support and guidance of MWSS,” de Dios said. The major components of the company’s investment last year include the construction of new facilities and networks to expand service coverage, rehabilitation and improvement on existing assets and facilities for both water and wastewater, compliance projects relating to biological nutrient removal for wastewater facilities, and the implementation of interim water source projects. The company said the intervening water sources are critical

Tesla idles plant in Shanghai for 2 days

esla Inc. is suspending production at its Shanghai factory for two days as China tightens restrictions to contain the latest Covid outbreak, according to people familiar with the matter. Production at the plant will be halted on Wednesday and Thursday, the people said, asking not to be identified because they’re not authorized to speak publicly. Covid restrictions in the city have prevented many workers from commuting to the factory, one of the people said. Tesla didn’t immediately respond to requests for comment. Reuters reported the production suspension earlier Wednesday. Elon Musk’s electric carmaker is the latest multinational to be caught up in China’s widening lockdowns and Covid restrictions. Although Shanghai has ruled out imposing a broad lockdown for now, workers in its main financial and business district have

been urged to work from home as officials try to rein in a swelling outbreak. Authorities recently locked down Langfang, a city near Beijing’s new airport, as well as the southern tech hub of Shenzhen and the northeastern province of Jilin. That’s fueled concern the country’s financial gateway could be next. Tesla’s Shanghai factory is crucial for Tesla, considering China is the company’s second-largest market and the plant produces cars for export to Europe and other parts of Asia. Data from the China Passenger Car Association earlier this month showed Tesla delivered 56,515 cars from the factory in February alone—23,200 for the domestic market and 33,315 for export. The two-day production halt will apply to Tesla’s general assembly lines and all employees are being tested for the virus, the people said. Bloomberg News

to ensuring water availability in the coming peak demand months during summer, while major new water sources are still being built by the government. Completed sources include deep wells with a total capacity of over 100 million liters per day (MLD). Major water system projects include the East Bay Water Supply System Project, which will utilize Laguna Lake as source, the Calawis Water Supply System Project which will treat and distribute water from the Upper Marikina Watershed, the Marikina Portable Water Treatment Plant, which will utilize Marikina River as a water source, and the landmark Novaliches-Balara Aqueduct 4 (NBAQ4) project which entails the construction of a fourth aque-

duct from the La Mesa Dam to the Balara Treatment Plants (BTPs). This is the first infrastructure project in Metro Manila to deploy a tunnel boring machine (TBM) in an urban setting, which is currently tunneling underneath Commonwealth Avenue in Quezon City, while causing no inconvenience to motorists. Manila Water has been compliant with the Department of Environment and Natural Resources’ standards on environment protection through its biological nutrient removal on wastewater projects. These include BNR Retrofitting in East Avenue, Quezon City, BNR Granular Adsorption Media in FTI Taguig, and BNR Operational Adjustment in Olandes Marikina.

mutual funds

March 16, 2022 NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

225.8

7.89%

-4.58%

-2.23%

-3.13%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4361

19.13%

-3.16%

0.65%

-13.71%

8.89%

-8.23%

-4.94%

-3.54%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1231

Climbs Share Capital Equity Investment Fund Corp. -a 0.7406 1.34%

-7.29% n.a.

-2.1%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6885 5.92%

-6.75% n.a.

-10.69%

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

10.76%

-2.07%

-0.19%

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

0.7553

13.53%

-4.18%

5.0737

MBG Equity Investment Fund, Inc. -a

-11.37% n.a.

87.62

-9.41%

PAMI Equity Index Fund, Inc. -a

46.2082

7.25%

-3.22%

-0.77%

-2.1% -3.72% -3.57% -7.21% -3.99%

Philam Strategic Growth Fund, Inc. -a

484.74

7.69%

-3.2%

-1.08%

-3.19%

Philequity Dividend Yield Fund, Inc. -a

1.3201

21.47%

0.78%

1.55%

-2.67%

Philequity Fund, Inc. -a

-2.21%

35.5262

10.38%

0.35%

-2.92%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9236

10.5%

-3.03% n.a.

-1.89%

Philequity PSE Index Fund Inc. -a

4.7883

8.57%

-2.43%

-0.08%

-3.48%

Philippine Stock Index Fund Corp. -a

796.03

7.91%

-2.55%

-0.17%

-3.92%

Soldivo Strategic Growth Fund, Inc. -a

0.7218

8.89%

-7.27%

-3.15%

-4.09%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6239

8.55%

-5.1%

-1.5%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.9067

7.47%

-2.87%

-0.43% -4%

7.8%

-2.76%

0.68%

-3.19%

United Fund, Inc. -a

3.3278

-4.02%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1458

Philippine Stock Index Fund Corp. -a

972.85 n.a. n.a. n.a. n.a.

13.59% n.a. n.a.

-1.45%

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

107.323

8.42%

-2.29%

0.3% -3.73%

Primarily invested in foreign currency securities (shares) $0.9577

-24.63%

-1.65%

0.98%

-14.98%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.5914

ATRAM AsiaPlus Equity Fund, Inc. -b

-6.88%

8.29%

7.82%

-13.81%

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

1.6263

0.06%

-1.46%

-0.99%

-3.88%

ATRAM Philippine Balanced Fund, Inc. -a

2.2125

2.63%

-1.04%

-0.5%

-3.02%

6.44%

0.59%

1.32%

-1.51%

First Metro Save and Learn Balanced Fund Inc. -a 2.6504

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2031

8.49% n.a. n.a. -2.82%

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

4.03%

1.35%

1.55%

1.9732

-2.16%

PAMI Horizon Fund, Inc. -a

3.6625

3.12%

0.48%

-2.73%

Philam Fund, Inc. -a

16.4294

3.07%

0.21%

0.41%

-2.47%

Solidaritas Fund, Inc. -a

2.0803

4.22%

-0.67%

0.19%

-1.94%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5434 4.69%

-2.27%

-0.26%

-2.84%

Sun Life Prosperity Dynamic Fund, Inc. -a

-1.23%

0.15%

-2.77%

0.9278

11.58%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9527

0.5%

-0.89% n.a.

-3.75%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.907

4.43%

-2.36% n.a.

-3.97%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8958

4.88%

-2.71% n.a.

-4.08%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03531

-6.78%

-0.41%

0.16%

-6.93%

PAMI Asia Balanced Fund, Inc. -b

$0.9788

-14%

0.06%

1.21%

-8.27%

5.5%

5.63%

-11.16%

1.88%

2.36%

-8.83%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2662 -6.82% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0928 -6.84%

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

373.77

1.02%

2.57%

2.47%

ATRAM Corporate Bond Fund, Inc. -a

1.8873

-0.92%

0.33%

0.08%

0.14%

Cocolife Fixed Income Fund, Inc. -a

3.2398

0.74%

2.61%

3.66%

-0.13%

Ekklesia Mutual Fund Inc. -a

-0.14%

2.2244

-0.58%

1.07%

1.29%

-1.2%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4188 -0.02%

2.62%

1.81%

-0.3%

Philam Bond Fund, Inc. -a

4.3223

-2.69%

2.98%

1.46%

-1.67%

Philam Managed Income Fund, Inc. -a

1.3135

-0.06%

3.34%

2.73%

-0.42%

Philequity Peso Bond Fund, Inc. -a

3.9235

-0.46%

3.04%

2.5%

-1.07%

Soldivo Bond Fund, Inc. -a

1.0166

0.04%

3.71%

2.05%

-1.13%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1567

-0.07%

3.54%

3.09%

-0.96%

Sun Life Prosperity GS Fund, Inc. -a

-0.71%

2.76%

2.4%

-1.19%

1.71

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

$484.88

0.85%

2.35%

2.22%

-0.96%

ALFM Euro Bond Fund, Inc. -a

Є215.97

-1.51%

0.1%

0.63%

-1.84%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1182

-5.61%

-1.16%

0.15%

-7.12%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0249 -3.11%

-0.13% n.a.

-4.23%

PAMI Global Bond Fund, Inc -b

$0.9597

-8.77%

-3.09%

-1.88%

-6.17%

Philam Dollar Bond Fund, Inc. -a

$2.3307

-4.6%

1.54%

1.42%

-6.98%

$0.0611298

-2.04%

1.93%

1.47%

-1.87%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.9025 -5.8%

-0.38%

-0.01%

-9.19%

Philequity Dollar Income Fund Inc. -a

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

131.53

1.29%

2.51%

2.54%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0601

1.03%

1.81% n.a. 0.23%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3197

1.52%

2.4%

2.51%

0.26% 0.31%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0619

0.67%

1.32% n.a.

0.12%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.0993 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2627

6.25% n.a. n.a. -8.69%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

PSE STOCK QUOTATIONS

$0.8896

-10.14% n.a. n.a.

-8.29%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

March 16, 2022

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT NTL REINSURANCE PHIL STOCK EXCH VANTAGE

34,480 402,243,122 369,808,054.50 1,055,585 477,509 296,974,620 815,852 45,423 16,834,295 78,857,220 13,214,944.50 6,000 54,640 13,120 86,230 2,118 129,080

135,116,919 191,504,361.50 -328,685 -154,348,547 -158,542 16,720 8,841,000 14,907,612 -2,675,124 -

INDUSTRIAL AC ENERGY 8.1 8.15 8.23 8.24 8.07 8.15 16,290,100 132,878,818 33.75 34.3 33.05 34.3 33 34.3 1,573,200 53,273,680 ABOITIZ POWER 0.44 0.445 0.45 0.465 0.435 0.445 4,360,000 1,977,200 BASIC ENERGY 26.5 26.75 24.75 26.75 24.75 26.75 633,000 16,368,390 FIRST GEN 68.6 68.9 69.5 69.5 68.5 68.6 13,470 928,546 FIRST PHIL HLDG 4.3 5.48 JOLLIVILLE HLDG 378 380 360 380 355.6 380 434,700 161,474,678 MERALCO 18.96 19.04 18.38 19.5 18.38 18.96 347,100 6,595,674 MANILA WATER PETRON 3.3 3.32 3.37 3.37 3.26 3.31 1,070,000 3,552,840 PETROENERGY 4.51 4.77 4.6 4.78 4.46 4.78 49,000 220,120 10.5 10.7 10.48 10.7 10.22 10.7 30,500 321,802 PHX PETROLEUM SYNERGY GRID 11.66 11.68 11.74 11.94 11.6 11.68 1,185,700 13,906,524 PILIPINAS SHELL 17.92 18 18.8 18.8 17.8 18 2,008,100 36,543,360 SPC POWER 14.38 14.4 14.1 14.4 14.1 14.38 18,200 260,650 1.54 1.55 1.56 1.58 1.52 1.55 115,052,000 178,482,150 SOLAR PH AGRINURTURE 5.27 5.28 5.31 5.5 5.27 5.28 1,669,800 9,000,668 2.46 2.49 2.47 2.52 2.45 2.49 154,000 383,750 AXELUM 21.05 21.25 21.5 21.6 21 21.25 353,700 7,474,375 CENTURY FOOD 14.36 14.44 14.46 14.46 13.52 14.44 15,300 211,354 DEL MONTE 7 7.15 7.25 7.25 6.98 7 3,031,900 21,230,254 DNL INDUS 13.3 13.56 13.32 13.9 13.12 13.56 4,032,000 54,383,610 EMPERADOR 64.6 64.95 64.45 64.95 64 64.95 44,300 2,858,905 SMC FOODANDBEV 0.56 0.58 0.53 0.59 0.53 0.58 13,676,000 7,771,540 FIGARO COFFEE ALLIANCE SELECT 0.58 0.62 0.62 0.62 0.62 0.62 1,000 620 1.1 1.12 1.1 1.12 1.1 1.12 991,000 1,095,820 FRUITAS HLDG 106.6 106.7 108 108 106.4 106.7 16,800 1,794,349 GINEBRA JOLLIBEE 226.8 227 228 228.2 223.6 227 992,640 224,749,076 KEEPERS HLDG 1.17 1.18 1.14 1.19 1.14 1.17 1,178,000 1,375,490 LIBERTY FLOUR 21.15 27.95 21 21 21 21 2,000 42,000 6.03 6.1 6.01 6.05 6 6.03 15,600 94,026 MAXS GROUP MG HLDG 0.14 0.152 0.141 0.141 0.141 0.141 20,000 2,820 15.2 15.4 15.44 15.44 14.7 15.4 8,255,600 125,002,358 MONDE NISSIN 7.98 8.08 7.98 8.08 7.98 7.98 24,000 193,625 SHAKEYS PIZZA 0.58 0.6 0.59 0.63 0.56 0.61 1,491,000 879,600 ROXAS AND CO 1.23 1.29 1.21 1.21 1.21 1.21 1,000 1,210 ROXAS HLDG 108.3 108.9 108 109.4 106.7 108.3 1,896,190 205,569,012 UNIV ROBINA 0.6 0.62 0.62 0.62 0.6 0.6 577,000 347,200 VITARICH 2.4 2.5 2.43 2.43 2.43 2.43 5,000 12,150 VICTORIAS CEMEX HLDG 0.93 0.94 0.93 0.94 0.92 0.93 705,000 652,690 EAGLE CEMENT 12.9 13.48 12.8 12.9 12.8 12.9 2,100 27,080 5.46 5.62 5.7 5.7 5.41 5.62 28,400 159,146 EEI CORP 5.5 5.57 5.4 5.58 5.4 5.57 5,700 31,109 HOLCIM MEGAWIDE 4.96 5 5.08 5.08 5 5 57,000 286,800 PHINMA 19.2 19.3 19.2 19.3 19.2 19.3 5,500 105,750 0.8 0.88 0.88 0.88 0.88 0.88 5,000 4,400 TKC METALS 1.04 1.05 1 1.08 0.99 1.05 3,432,000 3,570,240 VULCAN INDL 1.77 1.85 1.75 1.85 1.75 1.85 39,000 69,750 CROWN ASIA 5.41 5.45 5.44 5.45 5.44 5.45 7,400 40,300 PRYCE CORP 20 20.85 20 20 20 20 3,600 72,000 CONCEPCION 1.72 1.73 1.69 1.78 1.69 1.73 4,240,000 7,358,910 GREENERGY 8 8.04 7.82 8.14 7.82 8.04 96,200 771,730 INTEGRATED MICR 6.02 6.19 6 6.19 6 6.19 1,100 6,790 PANASONIC 1.03 1.04 1.04 1.09 1.02 1.04 142,000 147,280 SFA SEMICON 3.08 3.17 3.09 3.19 3.08 3.17 326,000 1,016,080 CIRTEK HLDG

32,511,589 12,906,065.00 -1,000 2,869,675 179,394 63,033,192 1,934,996 -152,580 1,050 -4,785,886 -2,328,196 -516,900 -2,065,286.00 -324,070 -2,575,855 -2,560,364 -23,083,320 72,348.50 530,670 415,445 -62,169,254 -25,520.00 -44,119 -11,243,988 -64,560 -261,300 -14,750,401 12,150 -22,170 -14,580 35,060 -237,230 -18,500 72,000 -2,814,890 168,122 34,160

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 LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER ZEUS HLDG

2,099,100 -1,429,275 46,072,042.50 8,947,014 870 278,260 28,644,346.00 -12,645,825 69,087,481 10,600 -2,598,970 -1,907,630 12,933,905 -8,628,998 -134,020 -

HOLDING & FRIMS

www.businessmirror.com.ph

43.55 128 95 25.7 8.53 52.25 18.88 55.2 20.3 107.5 89 1.82 3.66 0.79 0.61 200.2 0.72

0.85 4.21 810 58.95 12.38 8.5 0.86 0.54 0.56 4.92 8.49 6.74 0.23 509.5 3.6 58 0.53 2.91 9.15 3.7 2.51 1.24 2.91 890 104 2.55 117 0.165

45 129.2 95.5 26.5 8.54 52.5 19 56.7 20.95 110 89.1 2 4 0.83 0.72 211 0.77

0.86 5.19 815 59 12.4 8.9 0.87 0.55 0.57 4.96 8.5 7.11 0.28 510 3.7 58.5 0.57 2.93 9.23 3.71 2.99 1.25 3.36 900 107 2.79 119 0.166

43.1 129.6 95.7 26 8.45 53 18.8 55.1 21 107 91.6 2 3.99 0.82 0.6 211.8 0.7

0.85 4.21 790 59.9 12.02 8.5 0.88 0.56 0.56 4.98 8.23 7.11 0.225 510 3.6 58.5 0.53 2.93 9.16 3.63 2.51 1.25 3.36 890 107.2 2.79 118 0.165

43.1 129.9 95.8 26.8 8.55 53.25 19 56 21 110 91.85 2 4 0.82 0.61 211.8 0.77

0.86 4.21 815 59.9 12.5 8.93 0.88 0.57 0.56 4.98 8.57 7.12 0.225 517 3.7 58.75 0.57 2.94 9.23 3.71 2.51 1.28 3.36 908.5 107.5 2.79 118 0.166

43.1 127.1 94.15 24.3 8.45 52.05 18.76 55.1 20.2 105.1 89.1 2 3.61 0.82 0.6 211.8 0.7

0.83 4.21 790 58.95 11.94 8.4 0.86 0.53 0.56 4.9 8.23 7.1 0.225 505 3.6 56.6 0.53 2.93 9.1 3.63 2.51 1.24 3.36 875 103.8 2.79 117 0.165

43.1 129.2 95 26 8.54 52.25 19 56 20.95 110 89.1 2 4 0.82 0.61 211.8 0.77

0.86 4.21 815 59 12.4 8.9 0.87 0.54 0.56 4.9 8.49 7.1 0.225 509.5 3.7 58 0.57 2.93 9.23 3.71 2.51 1.24 3.36 900 107 2.79 118 0.166

800 3,130,040 3,890,000 40,900 56,100 5,680,560 43,200 820 803,300 733,150 145,690 3,000 14,000 16,000 143,000 10 184,000

4,131,000 11,000 239,170 1,493,650 5,469,300 15,600 56,000 4,034,000 50,000 251,000 9,457,100 5,100 290,000 166,570 11,000 4,590,360 33,000 426,000 1,060,300 21,566,000 4,000 537,000 1,000 443,920 267,730 4,000 1,770 40,000

3,528,500 46,310 192,778,620 88,393,237.50 67,800,126 131,256 48,280 2,192,660 28,000 1,231,090 79,719,451 36,308 65,250 84,923,100 39,700 266,601,081.50 17,850 1,248,680 9,732,309 79,681,810 10,040 666,310 3,360 396,036,375 28,355,684 11,160 207,760 6,620

PROPERTY

ARTHALAND CORP 0.55 0.59 0.6 0.6 0.6 0.6 5,000 3,000 5.71 5.98 5.99 5.99 5.99 5.99 2,000 11,980 ANCHOR LAND 35.4 35.6 35.35 36.15 35.1 35.6 12,266,500 436,184,840 AYALA LAND 4.38 4.39 4.34 4.38 4.31 4.38 388,000 1,692,150 AYALA LAND LOG 0.99 1.04 1.01 1.04 1.01 1.04 3,000 3,070 ARANETA PROP 44.7 45.3 46 47 44.7 44.7 1,698,700 77,617,345 AREIT RT 0.84 0.91 0.89 0.89 0.83 0.84 226,000 189,540 A BROWN 0.69 0.7 0.7 0.7 0.7 0.7 2,000 1,400 CITYLAND DEVT CROWN EQUITIES 0.089 0.093 0.095 0.095 0.089 0.093 11,580,000 1,030,760 2.92 2.95 2.93 2.93 2.89 2.92 410,000 1,193,220 CEB LANDMASTERS 0.375 0.38 0.375 0.38 0.375 0.38 54,370,000 20,390,900 CENTURY PROP CITICORE RT 2.66 2.67 2.6 2.78 2.6 2.66 35,216,000 94,931,020 DOUBLEDRAGON 8.9 9 8.9 9.18 8.85 8.9 496,100 4,458,834 DDMP RT 1.59 1.61 1.64 1.66 1.56 1.59 7,429,000 11,846,700 DM WENCESLAO 6.71 6.8 6.89 6.89 6.8 6.8 200,300 1,363,233 EMPIRE EAST 0.234 0.24 0.244 0.244 0.24 0.24 670,000 161,520 0.26 0.27 0.26 0.275 0.26 0.27 3,050,000 818,800 EVER GOTESCO 7.1 7.13 7.08 7.24 7.08 7.1 775,100 5,523,190 FILINVEST RT 1.03 1.05 1.02 1.05 1.02 1.03 887,000 918,330 FILINVEST LAND 13.5 13.66 13.24 13.78 13.12 13.66 240,900 3,251,742 8990 HLDG 630 658 590 658 587 658 30,400 18,890,700 GOLDEN MV 0.94 0.95 0.95 0.95 0.94 0.94 85,000 80,230 PHIL INFRADEV 0.81 0.82 0.81 0.81 0.78 0.8 158,000 124,910 CITY AND LAND MEGAWORLD 3.08 3.11 3.08 3.11 3.04 3.11 8,526,000 26,286,890 MRC ALLIED 0.247 0.25 0.26 0.265 0.246 0.255 13,140,000 3,287,710 MREIT RT 18.98 19 18.8 19.1 18.78 19 3,720,100 70,644,966 OMICO CORP 0.34 0.38 0.34 0.34 0.34 0.34 140,000 47,600 0.4 0.425 0.385 0.43 0.385 0.405 790,000 314,600 PHIL ESTATES 2.51 2.52 2.34 2.6 2.3 2.52 4,642,000 11,187,150 PRIMEX CORP RL COMM RT 7.11 7.3 7.14 7.48 7.11 7.11 9,419,200 69,018,422 ROBINSONS LAND 19.3 19.5 19.1 19.5 18.96 19.5 2,806,900 53,940,528 0.216 0.231 0.215 0.215 0.215 0.215 10,000 2,150 PHIL REALTY 1.35 1.49 1.4 1.46 1.4 1.46 6,000 8,520 ROCKWELL 2.51 2.6 2.6 2.6 2.6 2.6 3,000 7,800 SHANG PROP 37.9 37.95 38.7 38.7 37.5 37.95 18,645,300 708,146,780 SM PRIME HLDG 0.57 0.62 0.57 0.57 0.57 0.57 2,000 1,140 SOC RESOURCES 3.06 3.21 3.22 3.22 3.21 3.21 10,000 32,140 VISTAMALLS 0.92 1 1.02 1.02 1.02 1.02 80,000 81,600 SUNTRUST HOME VISTA LAND 2.78 2.79 2.84 2.84 2.71 2.79 785,000 2,183,540 SERVICES ABS CBN 12.5 12.54 12.54 12.54 12.3 12.5 299,100 3,731,314 15.48 15.5 15 15.5 15 15.48 992,400 15,158,040 GMA NETWORK 0.405 0.42 0.42 0.42 0.405 0.42 130,000 53,800 MANILA BULLETIN 2,276 2,280 2,252 2,310 2,206 2,280 76,305 171,602,840 GLOBE TELECOM 1,697 1,739 1,730 1,752 1,683 1,739 230,110 394,951,035 PLDT 0.042 0.043 0.041 0.045 0.04 0.042 637,000,000 26,972,800 APOLLO GLOBAL 23.7 23.75 22.5 24.05 22.4 23.7 13,474,700 313,754,105 CONVERGE 2.24 2.33 2.24 2.33 2.24 2.33 41,000 93,550 DFNN INC DITO CME HLDG 5.06 5.07 5.1 5.22 5.02 5.06 5,396,900 27,587,923 JACKSTONES 1.69 1.7 1.64 1.84 1.64 1.7 97,000 164,510 1.11 1.14 1.1 1.16 1.1 1.14 183,000 207,620 NOW CORP TRANSPACIFIC BR 0.31 0.315 0.31 0.32 0.31 0.315 2,220,000 705,750 2GO GROUP 7.1 7.2 7.2 7.49 7.2 7.2 10,000 72,145 ASIAN TERMINALS 13.62 14.1 14.1 14.1 14.1 14.1 1,800 25,380 1.51 1.57 1.47 1.51 1.47 1.51 137,000 206,390 CHELSEA 43.4 43.45 42.45 43.5 42.1 43.4 80,400 3,464,355 CEBU AIR 217.8 218 221 224 216.4 218 1,949,740 426,104,104 INTL CONTAINER 22.15 23.85 22.15 22.15 22.15 22.15 700 15,505 LBC EXPRESS 5.2 5.21 5.24 5.34 5.13 5.2 601,200 3,148,018 MACROASIA 0.7 0.72 0.7 0.72 0.7 0.72 24,000 17,020 HARBOR STAR 1.6 1.65 1.65 1.66 1.65 1.65 35,000 57,840 ACESITE HOTEL 0.425 0.46 0.43 0.43 0.425 0.425 1,770,000 760,550 WATERFRONT 530 530.5 530 530 530 530 100 53,000 FAR EASTERN U IPEOPLE 6.68 7.23 7.23 7.23 7.23 7.23 400 2,892 0.34 0.35 0.35 0.35 0.345 0.35 40,000 13,950 STI HLDG BELLE CORP 1.25 1.29 1.21 1.3 1.21 1.23 38,000 47,360 6.6 6.71 6.6 6.8 6.5 6.6 3,906,300 26,036,707 BLOOMBERRY LEISURE AND RES 1.24 1.25 1.27 1.27 1.22 1.25 349,000 431,640 1.81 2.24 1.82 1.82 1.82 1.82 2,000,000 3,640,000 MANILA JOCKEY 1 1.02 0.92 1.02 0.92 1.02 1,860,000 1,835,650 PH RESORTS GRP PREMIUM LEISURE 0.435 0.44 0.43 0.44 0.43 0.435 2,770,000 1,204,550 2.1 2.13 2.01 2.28 2 2.14 143,000 303,740 PHILWEB 0.43 0.44 0.43 0.44 0.42 0.43 15,950,000 6,886,600 ALLDAY 5.63 5.65 5.65 5.65 5.65 5.65 100 565 BERJAYA 7.7 7.83 7.84 7.99 7.7 7.7 180,000 1,402,337 ALLHOME 1.42 1.43 1.43 1.43 1.4 1.42 879,000 1,241,770 METRO RETAIL 32.8 33 32 33 32 33 852,600 27,977,415 PUREGOLD 54.85 54.95 55 56.25 54.7 54.95 527,500 29,034,495 ROBINSONS RTL PHIL SEVEN CORP 62.2 63 63 66 63 63 1,073,250 67,630,839.50 SSI GROUP 1.03 1.04 1.03 1.06 1.01 1.04 739,000 773,500 WILCON DEPOT 26.5 27 27 27 26 26.5 2,189,700 58,101,980 APC GROUP 0.227 0.24 0.24 0.24 0.24 0.24 10,000 2,400 4.02 4.47 4.45 4.45 4.45 4.45 2,000 8,900 EASYCALL 6.5 6.7 6.5 6.5 6.5 6.5 1,000 6,500 IPM HLDG 0.9 0.92 0.87 0.9 0.85 0.9 289,000 255,300 MEDILINES PAXYS 1.8 1.99 2 2 1.99 1.99 4,000 7,990 0.53 0.54 0.52 0.55 0.52 0.54 3,699,000 1,963,420 PRMIERE HORIZON MINING & OIL APEX MINING 1.54 1.56 1.54 1.6 1.54 1.54 2,747,000 4,282,790 6.53 6.54 6.79 6.79 6.45 6.53 1,118,400 7,328,108 ATLAS MINING 5.99 6.04 6 6.04 6 6.04 6,600 39,608 BENGUET A 2.7 2.8 2.7 2.8 2.7 2.8 20,000 55,790 CENTURY PEAK 4.51 5.14 5.48 5.48 5.15 5.15 10,500 54,214 DIZON MINES 2.88 2.89 2.86 3 2.8 2.89 10,579,000 30,585,290 FERRONICKEL 0.18 0.185 0.18 0.185 0.18 0.185 140,000 25,700 GEOGRACE LEPANTO A 0.154 0.156 0.16 0.16 0.153 0.154 1,050,000 164,880 0.157 0.172 0.157 0.172 0.157 0.172 30,000 5,010 LEPANTO B 0.01 0.011 0.011 0.011 0.01 0.01 50,500,000 505,200 MANILA MINING A 1.75 1.76 1.68 1.78 1.67 1.76 4,563,000 7,926,200 MARCVENTURES NIHAO 0.95 0.97 1.02 1.04 0.94 0.95 341,000 335,900 7.44 7.45 7.6 7.8 7.2 7.45 16,403,200 122,340,842 NICKEL ASIA ORNTL PENINSULA 1.07 1.09 1.06 1.13 1.06 1.07 1,077,000 1,184,400 5.35 5.37 5.29 5.7 5.29 5.35 725,500 3,908,389 PX MINING 29.45 29.5 28.35 30.35 28.35 29.5 5,010,000 146,950,040 SEMIRARA MINING 0.0064 0.0066 0.0065 0.0066 0.0065 0.0066 14,000,000 92,200 UNITED PARAGON 20.9 21 21.5 21.9 20.9 20.9 89,600 1,902,230 ACE ENEXOR 0.011 0.012 0.012 0.012 0.012 0.012 300,000 3,600 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 9,200,000 110,400 ORNTL PETROL B 0.009 0.0093 0.0088 0.0094 0.0088 0.0094 25,000,000 221,000 PHILODRILL 5.43 5.56 5.62 5.62 5.21 5.43 150,200 831,963 PXP ENERGY PREFFERED HOUSE PREF A 99.25 100.9 100.5 100.5 99.5 99.5 510 50,755 504 510 510 510 510 510 1,150 586,500 AC PREF B1 506 509 508 508 505 505 1,030 520,210 AC PREF B2R 43.15 45 43 43.05 43 43.05 4,000 172,035 CEB PREF 100.3 100.5 100.3 100.5 100.3 100.4 6,100 612,425 DD PREF 107.1 110 109.5 110 109.5 110 9,330 1,026,250 EEI PREF B 1,020 1,030 1,020 1,020 1,020 1,020 1,370 1,397,400 GTCAP PREF B 990 1,000 990 990 990 990 50 49,500 JFC PREF A JFC PREF B 1,000 1,005 1,000 1,006 1,000 1,000 445 445,150 100.2 101 101 101 101 101 50 5,050 MWIDE PREF 2B 101.5 103.1 103.1 103.1 103.1 103.1 10,110 1,042,341 PNX PREF 3B 970 980 972 980 970 980 1,210 1,177,900 PNX PREF 4 1,050 1,075 1,060 1,075 1,045 1,050 5,005 5,263,130 PCOR PREF 3A PCOR PREF 3B 1,080 1,120 1,080 1,082 1,080 1,082 1,380 1,491,540 77 78.9 78.9 78.9 78.9 78.9 10,000 789,000 SMC PREF 2F 78 78.45 79 79 78 78 20,000 1,570,000 SMC PREF 2I 76.25 76.5 76.5 76.5 76.5 76.5 260 19,890 SMC PREF 2J 76 77.1 76 76 76 76 67,260 5,111,760 SMC PREF 2K 53 54.9 54.9 54.9 54.9 54.9 1,500 82,350 TECH PREF B2D PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 14.5 14.7 14.2 14.5 14.2 14.5 123,600 1,763,980 WARRANTS TECH WARRANT 0.6 0.61 0.59 0.62 0.59 0.6 308,000 185,300

-55,738,945 61,470 22,509,435 22,500 -4,359,970 -235,546 12,590 -1,292,955 -120,040 40,000 -1,906,068 -561,040 -13,688 -130,000 -1,050,540 22,950 -12,508,368 -2,101,000.00 -7,039,963 -10,313,838.00 -45,277,310 -1,202,660 -43,226,080 -39,976,040 -125,900 31,972,395 41,940 -6,946,883 -14,420.00 78,750 -24,480 103,485 92,992,102 -13,290 47,996 21,250 3,500 -4,373,779 -53,370 182,700 -94,800 -536,794 -6,084,340 2,253,908.50 -536,419.50 -124,160 -29,410,590 880 49,010 -138,670 137,204 55,790 50,414 8,493,970 -707,410 -30,496,938 529,242 -5,715,695 -2,723,205 -5,069,200 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

16.24 0.87 0.92 1.86 0.34

17.1 0.89 0.93 1.87 0.35

EXHANGE TRADE FUNDS

FIRST METRO ETF

107.2

108

17 0.85 0.91 1.85 0.33

17.1 0.89 0.92 1.9 0.35

17 0.85 0.91 1.83 0.33

17.1 0.89 0.92 1.87 0.34

8,600 150,000 98,000 1,928,000 970,000

146,630 130,700 89,600 3,623,300 327,200

-31,730 -47,900

110 110 107.2 107.2 12,400 1,333,836 268,036

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Editor: Dennis D. Estopace • Thursday, March 17, 2022

Jan. OFW remittances grew 2.5% to $2.67B

By Bianca Cuaresma

@BcuaresmaBM

ONEY sent by Filipino migrant workers continued to grow in the first month of the year, amid global surges of Covid-19 cases during the period, the Bangko Sentral ng Pilipinas (BSP) reported.

BankCom to ramp up investments in tech By VG Cabuag

@villygc

ANK of Commerce, a unit of conglomerate San Miguel Corp., said it is ramping up investment in technologies as it prepares for a resurgent economy after the pandemic. The bank said as part of its P1.2 billion spending in 2019, it completed the systems-upgrade of key services including treasury, trust banking and anti-money laundering. The lender said it also funded to improve the bank’s digital capabilities through its enhanced mobile banking and web platform. With this transformation, users can now transfer funds to a mobile number or e-mail address and build savings via its “e-Saver” function, according to the lender. Online card transactions, QRbased payments and integration with electronic payment service provider ECPay are also being lined up. “The banking sector is essential to our country’s post-pandemic recovery, and we want [BankCom] to play a more significant role in San Miguel’s overall efforts to help boost our economy,” San Miguel President and CEO Ramon S. Ang said. “Upgrading the bank’s IT and digital infrastructure is key to meeting the challenges of banking in the new normal and serving the needs of retail customers, SMEs and corporate clients. We believe in the bank’s strong potential, that’s why we are investing to upgrade and enhance its capabilities to serve more clients,” Ang added. The bank has also set aside P1 billion to upgrade its core banking system and refresh its ATM fleet across the country, including the installation of additional machines at strategic offsite locations starting this year. “Digital banking is on the rise and will continue post-Covid as many people have experienced its convenience. By deciding early on to upgrade our digital assets, we are now in a position to reach out and offer more to our customers,” BankCom President and CEO

Michelangelo R. Aguilar said. “We are committed to embracing new technologies to strengthen our core functions and governance, unleash capabilities to integrate our services, realize operational efficiencies, and reduce transaction costs. Ultimately, this will redound to providing a exceptional customer experience in the new normal,” Aguilar added. The bank said further IT developments are under way to beef up the bank’s performance in trade finance, loan management, risk management, as well as cash management, which it estimates to bring in transaction values exceeding P10 billion from corporate and manager’s check facilities alone and more than P1.5 billion from direct and cross-border fund transfers. Enrollments in the bank rose 34 percent after the first mobile app version was released in 2020, followed by a 31 percent increase in 2021. Notable increases in bills payments and fund transfers via InstaPay and PESONet via this channel were also realized. “As we have seen exponential growth in the use of digital services in the last two years, we will continue to study emerging trends and adapt to our customers’ needs. We endeavor to help more Filipinos in their recovery from the pandemic by providing relevant digital banking solutions to make smart financial decisions,” Aguilar said. The bank already secured regulatory approvals for its initial public offering at the end of the month. BankCom offers up to 280.60 million shares at a final price of P12 per share or proceeds of about P3.36 billion. 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. BankCom, which will be using the ticker symbol BNCOM, targets to conduct its initial public offering from March 16 to 22, while its tentative listing date is on March 31.

Latest data released by the Central Bank showed a 2.5-percent growth on the cash remittances sent by Overseas Filipino Workers (OFWs) in January this year, with the month’s total cash transfers amounting to $2.67 billion. January’s cash remittance level is higher than the $2.603 billion seen in January of 2021. It is also higher than the pre-pandemic level of $2.65 billion in January 2020. Broken down, the BSP traced the expansion in cash remittances to

@butchfBM

ENATE Minority Leader Franklin M. Drilon deplored as misplaced or out of order the Department of Finance’s refusal to suspend imposition of excise tax on petroleum products. This, as Drilon asserted there are many other available sources the Duterte government can tap to cover the forgone revenue from the suspension of the fuel excise tax. For instance, he pointed to an idle P7-billion untouched contingency fund in the Office of the President Moreover, Drilon added there are many other government agencies with still unobligated or untouched funds deposited in banks that can be tapped now that funds are needed to supplement Duterte administration’s on-going projects. The idle funds were said to have been accumulated by agencies with

DRILON

unobligated or untouched fund deposited in banks that can be tapped to supplement government fund requirements, such as additional allocation for government efforts to contain the Covid-19 pandemic. According to Drilon, the suspension of the excise tax is another option now that the public is encountering difficulty in the wake of price hikes triggered by the upward cost of

by Singapore, Japan, Saudi Arabia, the United Kingdom, the United Arab Emirates, Canada, Taiwan, Qatar and Malaysia. The combined remittances from these top 10 countries accounted for 79.6 percent of total cash remittances during the period. Earlier this year, several economists expressed their views that remittances will continue to rise in 2022 as major economies continue to open and normalize after the disruptions caused by the pandemic.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort, for example, said sustained inflow of remittances during the year is expected to support the country’s Balance of Payments position and gross international reserves. International credit watcher Fitch Rating, in its latest affirmation of the country’s credit rating, also counted resilient remittances among the factors that will boost the Philippine economy’s recovery for the year.

‘Pinoy players to boost blockchain game sector’ By Rizal Raoul S. Reyes @brownindios

UST like the famous Korean pop group, MetaDhana Studio believes the “army” of Filipinos engaging in play-to-earn (PTE) businesses can catapult the Philippines into a global force in blockchainbased game. MetaDhana CEO Mikhail Jan Peñalosa told reporters in a forum in Quezon City that 40 percent of the Philippine population is aware and active in PTE games. “It is getting bigger everyday as Filipinos get enticed when they know [there’re] economic opportunities,” Peñalosa said last Tuesday. “Our target is to make the Philippines a powerhouse NFT creator.” Jed Mark Serilla, head of Growth and Community Development at MetaDhana, pointed out that the ultimate goal of the company is to be the top non-fungible token (NFT) player in the world. Right now, the

country has the biggest NFT ownership in the world, according to Australia-based information service Finder. According to Australia-based independent information service Finder, the Philippines beat out 19 other countries for the top spot for NFT. Peñalosa said MetaDhana is inspired by the success of Axie Infinity. He added it is now high time for the country to become a top producer of games from a big user of games. At present, he said NFT is a $5 billion global industry. “The Philippines contributes a big chunk of the pie,” Peñalosa added. He explained that Axie Infinity generates $130 million to $150 million in volume on a daily basis. “Thirty to 40 percent of that volume comes from the Philippines,” he said. It added that around 32 percent of Filipino claimed they are NFT owners in the company’s own online surveys which were released last November.

Thailand and Malaysia came in second and third respectively with 26.6 percent and 23.9 percent. Peñalosa said they are inspired by the success of Axie Infinity. To jumpstart their objective, MetaDhana Studio is set to launch its first blockchain-based, play-to-earn (P2E) Rooster Wars, an online game inspired by classic fighting games like Street Fighter but with simpler mechanics. Developed as a PvP (player-versus-player), Serilla said Rooster Wars is inclusive in terms of playability while remaining competitive. Sevilla said it’s a “rock, paper, scissors” fighting game with added depth that allows players to customize the build of their characters and formulate strategies in real time to win. The project became feasible through a joint venture with Ranida Games, a game development company responsible for creating Basketball Slam! which attracted more than 10 million downloads.

“We did extensive economic research and financial modeling in designing the economy of rooster wars with the goal of creating a sustainable economy for the players,” Peñalosa explained. “The economic design of Rooster Wars is a hybrid between subscription model and the self-paying capabilities it offers through staking, yielding farming and playing.” Peñalosa said Rooster Wars is quite different from e-sabong as its animated and story-driven, promoting a cruelty-free experience. Moreover, it’s far from being outright gambling because there is no betting from both players and spectators. Lastly, only in-game resources are spent when participating in battles or revitalizing burned-out roosters. “The idea of cockfighting has a negative connotation in some regions, although it’s been embedded not only in Filipino culture but also in countries like Brazil and Thailand,” he said.

PNB sustains strong core operating income in 2021

HILIPPINE National Bank (PNB) reported income from its core banking operations of P40.1 billion in 2021, growing by 2 percent year-on-year despite the continued impact of the Covid-19 pandemic. Net service fees and commissions grew by 43 percent driven by higher loan-related and deposit-related transactions, as well as significant bancassurance and underwriting deals completed during the year, the bank said in a statement. This was supplemented by the upward traction on fees from the increasing use of the bank’s digital platform. The bank reported net interest income of P34.8 billion in 2021, which is relatively flat year-onyear and managed to maintain its

‘Idle funds of agencies can fill in fiscal holes from excise-tax revenue loss’ By Butch Fernandez

the increase in receipts from landbased and sea-based workers, which rose by 2.9 percent (to $2.103 billion from $2.044 billion) and 1.2 percent (to $565 million from $558 million), respectively. The growth in cash remittances from the United States (US), Japan and Singapore contributed largely to the increase in remittances in January 2022. Meanwhile, in terms of country sources, the US registered the highest share of overall remittances at 41.2 percent in January, followed

petroleum products. The lawmaker lamented that the fuel subsidy or ayuda which government is giving out is not enough. This, even as the Finance Department claimed P48.7-billion losses will be incurred by government when it suspends the excise tax from June to November. Moreover, it estimated an additional foregone P69.3 billion would result if the suspension is enforced from June to December. The DOF likewise invoked the need to abide by the Tax Reform for Acceleration and Inclusion (Train Law) before suspending the excise tax. In turn, Drilon, a former Secretary of Justice, suggested that the DOF can opt to be liberal in its interpretation of the law in order to readily respond to the urgent need of the public. The Senator suggests the DOF can also do this if they want to, recalling that it was able to suspend the VAT on imported products last December.

net interest margin at 3.2 percent. The bank’s loan portfolio grew by 1 percent to reach P607.0 billion as of end-2021, while total deposits increased year-on-year by P4.6 billion, closing at P894.9 billion as of end-2021. The bank’s core operating income is complemented by a P33.4 billion gain from the propertiesfor-share swap completed during the year with PNB Holdings Corp. This is part of a series of transactions which aim to monetize the value of the Bank’s low-earnings assets. This brought the consolidated net income of the bank at P31.7 billion for the year 2021, 12-times higher than the bottom line income in the previous year. The bank recorded trading and foreign exchange gains of

P1.5 billion in 2021. This was lower by 65 percent year-onyear, because in 2020 the bank took advantage of the decline in benchmark interest rates to off load a significant amount of its trading portfolio. While the bank continued to build its loss reserves on loans of borrowers which are directly hit by the pandemic, it recorded much lower impairment and credit provisions in 2021 by 24 percent. As part of its continuing strategy to trim down its nonperforming loans (NPL), the bank said it sold certain NPLs in 2021 with gross carrying amounts prior to sale of P5.5 billion, resulting in gain on sale of P767.0 million. Operating expenses, excluding provisions, are also lower by 6

percent compared to the previous year as the bank focused on more essential expenditures especially during these challenging times. The bank’s Capital Adequacy Ratio of 13.66 percent and Common Equity Tier 1 Ratio of 12.96 percent remained above the minimum regulatory requirement of 10 percent. “PNB continued to be profitable and was able to provide nonstop banking services to customers and the general public during the pandemic,” PNB President and CEO Jose Arnulfo A. Veloso was quoted in a statement as saying. “We continued to play our part in helping customers and employees by building safer banking processes and services amidst the continuing pandemic situation.”

SEC warns vs investing in Algoscalp’s crypto trading; tagged as Ponzi scam

HE Securities and Exchange Commission against investing on Algoscalp, which claims to operate a fully-automated trading system of cryptocurrency, as it is not a registered company and its operations are likened to that of a Ponzi scheme. The SEC said in its advisory that the company, which also uses the name “Algoscalp Auto Trading” or “Algoscalp Trading,” uses a scalping method of trading, a style that specializes in profiting off of small price changes and making fast profit from reselling. Algoscalp claims that it gathers money from the public to fund its supposed project through initial coin offering on the promise of profits. It also claims to be an operator of a system that allows the investor to trade the financial markets without lifting a finger. It uses a cryptocurrency called

Algorand Blockchain that aims to be simultaneously scalable, secure and decentralized. The company is enticing the public to invest in the said entity with a minimum amount of P200 with a promise of a 1-percent to 13-percent daily profit range for 22 days. An investor can also earn through direct referral of what it called an active trade, wherein the investor is promised to earn a 12-percent commission. The SEC, however, said the claims of Algoscap “appears to be too good to be true with indications of a possible Ponzi Scheme where returns to early investors are likely to be paid out from the investments of new investors and not out of the company’s profits similar to those already flagged by the Commission as scams.” The SEC said based on its records, the company is not registered. It is neither authorized

to solicit, accept or take investments from the public nor to issue investment contracts and other forms of securities as defined under the Securities Regulation Code. “Our database also shows that Algoscalp has no brokers, account managers, agents, and/or representative that have appropriate registration and/or license to offer or sell such securities to the public,” the regulator said. Therefore, the public is advised not to invest or stop investing in Algoscalp and in any other scheme being offered by it no matter how enticing, trendy, or catchy its slogan, proposition, and scheme is. The Commission warns all unscrupulous individuals and/ or entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code and such other rules and regulation enforced by the SEC. VG Cabuag

Envoys&Expats BusinessMirror

Thursday, March 17, 2022

PHL, US to solidify bonds on nuke energy

AMBASSADOR Jose Manuel G. Romualdez (both photos, right) looks on as undersecretaries Bonnie Jenkins (from left) and Gerardo D. Erguiza Jr. sign the memorandum of understanding on Strategic Civil Nuclear Cooperation for the Philippines and the United States. WASHINGTON, D.C. PE/DFA

ASHINGTON, D.C.—The Philippines and the United States further deepened their cooperation in developing the former’s nuclear-energy program. This, as the two countries signed a memorandum of understanding on Strategic Civil Nuclear Cooperation (NCMOU) on March 10. “To ensure a resilient, inclusive and green economic growth for the Philippines, we need to intensify

our work in securing reliable and sustainable energy sources, including nuclear energy,” said Ambassador of the Philippines to the US Jose Manuel G. Romualdez, who witnessed the signing of the NCMOU. “Through our cooperation,

we hope to ensure the peaceful use of nuclear energy, and fulfill our decarbonization goals.” Undersecretary Gerardo D. Erguiza Jr. remarked that the Department of Energy will intensify its collaboration with the US to improve the knowledge and understanding by furthering capacities on nuclear infrastructure through various technical assistance. Noting the inclusion of nuclear power in the Philippines’s energy mix and the country’s exploration on the viability of reopening the Bataan Nuclear Power Plant, Under Secretary of State for Arms Control and International Security

Bonnie Jenkins welcomed the recently signed Executive Order 164: “Adopting A National Position For A Nuclear Energy Program, and For Other Purposes” by President Duterte, affirming it as a positive development “for those working together to deepen collaboration between the US companies and Philippine partners in making sure that nuclear energy contributes to [the latter’s] growth.” “We are delighted to partner with the Philippines to advance our shared nonproliferation energy and related climate vision,” Jenkins added. Both signed the NCMOU at the US Department of State headquarters.

PHL, Austria reaffirm links in 2nd round of political consultations

HE Philippines, represented by Assistant Secretary for European Affairs Jaime Victor B. Ledda and Austria, headed by the delegation of the Department for Asia and Pacific of the Federal Ministry for European and International Affairs Head Gabriele Meon-Tschürtz, renewed their commitment to pursue stronger political, economic, and peopleto-people cooperation during the second Philippines-Austria Political Consultations held via video conference on March 9. The two sides discussed cooperation in the areas of agriculture, space, cooperation between their foreign-service institutes, combatting child pornography and

FOREIGN Affairs Assistant Secretary Jaime Victor B. Ledda (clockwise, from top left), Austrian Head of Department for Asia and Pacific Gabriele Meon-Tschürtz, Ambassador Bita Rasoulian, Chargé d’Affaires a.i. Ivan Frank M. Olea and First Secretary-Consul Ma. Teresa A. Cabreira.

online exploitation of children, technical-vocational education and training, as well as apostille convention. They also exchanged views on domestic, multilateral, regional and global issues in the context of the current public-health situation, including the situation in Ukraine; and reiterated the importance of strengthening multilateral cooperation, as they highlighted the vital role of international law in the peaceful resolution of disputes among countries. Meon-Tschürtz characterized the bilateral relations between the countries as a “friendly partnership that continues to produce positive outcomes for both sides.”

World Food Prize laureate proud of PHL business roots

HE H AGUE —Simon N. Groot, 2019 World Food Prize laureate, credited the Philippines for the phenomenal success of his company East-West Seed (EWS)—one of the world’s leading tropical vegetable companies. Groot started EWS in the country in 1982 with Filipino seed trader Benito M. Domingo with the support of the Royal Tropical Institute in Amsterdam. Their mission is to improve the income of farmers through access to highquality vegetable seeds. A team of breeders from the Netherlands’ Wageningen University and the University of the Philippines-Los Baños (UPLB) started hybrid vegetable varieties. The Dutchman happens to be a sixth-generation descendant of the family that laid the foundation of his country’s vegetable seed industry. “I was looking for a place where I can start a seed business,” Groot told Philippine envoy to the Netherlands J. Eduardo Malaya during

2019 World Food Prize Laureate Simon N. Groot (left) and Ambassador J. Eduardo Malaya THE HAGUE PE

a call at the embassy late in February. “I found…talent at the UPLB. There was also no difficulty in conversing with Filipino farmers, as most spoke English. I will always remember the long history of connecting with the Philippines, and the unique innovation tools for the Filipino farmers.” A market leader with more than 4,000 employees worldwide headquartered in Enkhuizen (the Netherlands) and Bangkok, East-West has expanded from Southeast Asia to India, China, Africa, and South

America. It has 10 seed-processing facilities in seven countries, with 14 research and development centers in six countries, including three in the Philippines: in Batangas (San Juan and Lipa, where its first-ever experimental farm is located: the Hortanova) and Bukidnon. T he company started on a 5-hectare farm in Lipa where they produce high-yielding, disease-resistant varieties of local crops, such as bitter gourd (ampalaya), bottle gourd (upo), eggplant (talong), squash (kalabasa), and spinach (kangkong). The sinta papaya variety from the Philippines, with its bright yellow flesh, among many other kinds, has been exported to and gaining ground in South America. “I am the greatest Philippine fan in Holland,” Groot declared. “If there is any need of support, I am happy to help.” Malaya expressed appreciation for Groot for his thoughtfulness, hard work and extraordinary passion in raising the productivity and incomes of farmers not only in the

Philippines, but in other tropical countries. In 2015 his company set up Knowledge Transfer, a foundation that seeks to increase the income of smallholder vegetable farmers by sharing the knowledge and skills required to improve their productivity. The UPLB conferred on Groot the degree of “Doctor of Laws, honoris causa” in 2019. In the same year he became the first Dutch person to have received the World Food Prize (WFP)—the “Nobel Prize for Food.” (The award was created in 1986 by agronomist Norman Borlaug—winner of the 1970 Nobel Peace Prize.) The WFP recipient was accompanied by Maaike Groot, EWS Public Affairs manager, who is also the supervisory board member and chairperson of the Philippines Netherlands Business Council—a nonprofit association established in 1994 in The Hague for the purpose of strengthening business and economic relations between the two countries.

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PHL urged to fully exploit benefits of Euro trade deals

OCAL enterprises are urged to take advantage of the benefits from trade agreements with Europe such as the European Union (EU) Generalized Scheme of Preferences Plus (GSP+) and the free-trade deal with the European Free Trade Association (EFTA). In last month’s briefing, Swiss Ambassador to the Philippines Alain Gaschen said that, although the country’s utilization rate of the Philippines-EFTA free-trade agreement (FTA) “maintains [its] stability” amid the pandemic, there is still a huge potential for Filipino firms in exporting to EFTA countries using the trade pact. Gaschen added that the Philippines-EFTA trade pact has allowed the country to have a trade surplus with Iceland, Liechtenstein, Norway, and Switzerland, which previously encountered a trade deficit. A big potential for Philippine enterprises is in the agriculture sector, the envoy said, as EFTA nations are now closely working with the Department of Trade and Industry to fine-tune the FTA. On the other hand, the EFTA’s trade deal with the country increased Nordic countries’ export of seafood to the Philippines to around 40 percent. Meanwhile, EU Delegation’s first counselor and head of trade and eco-

AMBASSADOR Alain Gaschen EMBASSY OF SWITZERLAND/PNA

nomic affairs Maurizio Cellini said the GSP+ has allowed an estimate of €2 billion, or around 25 percent of Philippine exports, to enter the EU market at zero tariffs. Cellini revealed that Philippine agri-food products have greatly benefited from the EU GSP+ trade preference, and that the country’s trade with the EU is recovering its performance prior to the health crisis with the help of the scheme. “We are now noticing that…trade figures between the EU and the Philippines are approaching their prepandemic levels,” Cellini confirmed. “This is a positive indication that trade relations between the EU and the Philippines remain strong amid the global economic crisis.” The current GSP+ status of the Philippines will expire by the end of 2023. The counselor said the EU is updating the current GSP regulation, which will take effect on January 1, 2024. Kris Crismundo/PNA

Japan, WFP carry out ‘Odette’ aid; Thailand ships goods for survivors

HE Embassy of Japan’s Minister and Deputy Chief of Mission Yasushi Yamamoto attended the turnover ceremony for the “Emergency food and logistics assistance to vulnerable populations affected by Typhoon ‘Odette,’ Philippines” project on March 10, which is being implemented by the World Food Programme (WFP). Said event was held in Burgos City, Surigao del Norte, with WFP-Philippines Representative and Country Director Brenda Barton, as well as Head of Emergency Preparedness Unit Yukimi Ogaki from the WFP Headquarters, in attendance. The ceremony was held a day before the commemoration of the 11th anniversary of the Great East Japan Earthquake. Recalling the tragic event, Yamamoto expressed his gratitude on behalf of all the Japanese people for the Philippines’s support during the earthquake and the ensuing tsunami. “We, the Japanese people, never forget the kindness of the Filipinos,” the minister stated. “Both our countries and people experience various hardships and sadness almost every year due to severe natural disasters. As your neighbor and partner, Japan is always a proven close friend of the Philippines particularly in times of adversities.” He also hoped that the WFP’s unique expertise in emergency response will encourage the affected people to build back from the damages brought by the typhoon: “Siargao will emerge stronger and better, with Japan by its side.” The $5-million project donated by the Japanese government targets to nourish approximately 130,000 people, or around 26,000 households, affected by the typhoon in Northern Mindanao and Central Visayas. The WFP will ensure that the most vulnerable affected families receive sufficient food to meet their immediate basic requirements in the initial stage of the emergency response. This initiative, according to the embassy, comes at a crucial period in mitigating the deterioration of the food-security status, and assist in the restoration of livelihood activities in the affected communities.

Thailand pitches in

EARLY this month the Philippine

OFFICIALS from the World Food Programme and the Embassy of Japan

ASSISTANT Secretary Nathaniel G. Imperial (left) receives the symbolic donation from Chargé d’Affaires Thawat Sumitmor DFA-OPCD PHILIP FERNANDEZ

government received a donation of $65,000 from its Thai counterpart as humanitarian assistance for the sur vivors of Ty phoon “Odette’s” (international name Rai) onslaught. A ceremonial turnover of the donation was held at the Department of Foreign Affairs headquarters on March 2. On hand at the turnover were Foreign Affairs Assistant Secretary for Asian and Pacific Affairs Nathaniel G. Imperial, Chief of the Response and Operational Coordination Division of the Department of National Defense-Office of Civil Defense Susana E. Quiambao and Royal Thai Embassy Chargé d’Affaires Thawat Sumitmor. Imperial expressed his appreciation for Thailand’s consistent “act of solidarity” with the Philippines, as he recounted the many times the former provided assistance to the country, such as in the aftermath of Typhoon “Yolanda” (international name Haiyan) in 2013, and in the early days of the current pandemic. He further noted the messages of support from the Thai government during these times, as evidence of its solidarity with the Filipinos. Thawat described the donation as a symbol of the friendship, goodwill and long-standing relations between the two countries. The actual donation was earlier received by the Office of Civil Defense.

Parentlife BusinessMirror

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Editor: Gerard S. Ramos

• Thursday, March 17, 2022

Infants need lots of active movement and play—and there are simple ways to help them get it By Danae Dinkel University of Nebraska Omaha

FIRST-TIME mom Anne Curtis with baby Dahlia.

‘YOU ARE THE BEST MOM FOR YOUR OWN BABY’ EVERY mom ventures through her unique motherhood journey. For most first-time moms, these start out with them constantly worrying over the smallest of things— including Anne Curtis, a “mombassador” for the global brand Johnson’s Baby. She shared how she was once a praning mom to her baby Dahlia as she gets anxious about her daughter’s overall welfare and safety, so much so that even the little darling’s bath time daunted her. “Bath time, as a first-time mom, is really one of the scariest things, especially with a newborn. You have to learn about the proper way of holding a baby, securing them [under the arm]...it only becomes easier as you get used to it over time.” With practice and familiarity, she was able to manage her concerns and slowly eased herself into being a more laidback mom, especially now that Dahlia is in that stage of exploration. Anne noted that day and night bath time had evolved into their mom-and-baby bonding activity as Dahlia grew into her toddler stage. Bubble baths and stories before bed have become the mom and daughter’s way of sharing time together. Anne is thankful to have had her mother and husband Erwan as her own pillars in the early stages of her motherhood journey. She and Erwan became a team in figuring out how to raise an infant as new parents. They would research on how to go about parenting tasks or be on the lookout for what is best for Dahlia. Occasionally, when her mom was around, Anne would ask her for know-how and advice. She shared the best piece of advice she received from her mother: trust her own [maternal] instincts because she knows her child best. And trust her instincts, Anne did. She is always looking for more ways to protect Dahlia. For instance, she needed to protect Dahlia’s skin since she began exploring her surroundings as an active toddler. She saw this as an opportunity to give Dahlia the gentle protection she needs while doing their favorite bonding activities with the help of the upgraded Johnson’s Milk+Rice Bath and Lotion. The newly reformulated infant care products contain 100 percent more milk proteins that provide nourishment and real rice extracts that can protect a growing toddler’s skin. With the new Johnson’s Milk+Rice products now available in supermarkets and via Shopee and Lazada, parents can find more tips on toddlers’ skin care at www.johnsonsbaby.com. ph.

PHOTO BY NEONBRAND ON UNSPLASH

HEN people set personal fitness goals and establish their physical exercise routines, there’s a group of cuddly individuals that is often left out— infants. Historically, infant active movement has been perceived as a personality characteristic. It’s assumed that infants are plenty active on their own, without needing adult intervention to encourage movement. However, research is revealing that the choices, behaviors and everyday habits of adults have a big influence on how much infants move. I’m a physical activity teacher and researcher. For the past five years I’ve conducted several studies exploring infant movement, seeking to identify what supports the development of lifelong physical activity habits. I’ve learned that many parents and other caregivers want to encourage infants to actively play and move. However, they often don’t know for sure how much physical activity an infant needs, nor do they often recognize how their own behaviors might be limiting an infant’s physical activity. Fortunately, there are several easy—and fun—ways to add more physical activity to an infant’s daily life. Why infants neeD movement— anD hoW much STUDY of infant movement is a relatively new field, so there is still a lot to learn. However, one of the field’s foundational studies was published in 1972, and it found that increased infant physical activity can improve motor development. More recent research shows that increased infant movement can improve bone health and personal-social development— skills related to improving their independence or interacting with others, such as feeding themselves or waving goodbye. The World Health Organization suggests that infants should be physically active several times a day, especially through interactive floor-based play. Similarly, the American Academy of Pediatrics recommends opportunities for interactive play throughout the day, along with at least 30 minutes of “tummy time” with an adult—which I’ll talk more about below. Yet half the parents participating in our research reported that they hadn’t heard of these recommendations and did desire more specific guidelines on encouraging active play. What are the barriers? While research is ongoing, I and other researchers have identified three major barriers to infant active movement: screen time, restrictive devices and “gendered play”—gender-related stereotypes, beliefs and practices in relation to how children play. The American Academy of Pediatrics and other organizations discourage allowing infants any screen time other than video chatting. However, a recent review found that children ages 0 to 2 years may be getting between 36 and 330 minutes of screen time per day. A 2019 analysis of data gathered between 2008 and 2010 found that children’s screen time increased from 53 minutes a day at age 1 to more than 150 minutes per day by age 3, which suggests that screen time habits begin taking shape at very early ages. Furthermore, the World Health Organization

suggests that infants should spend no more than one hour at a time in a restrictive device. Yet many adults overuse car seats, strollers, high chairs or other “containers” that constrain movement. For instance, in a 2018 study of child care centers in the US, Canada and Australia, only 38 percent to 41 percent of the facilities followed this WHO guideline. We’ve documented additional barriers as well, including time spent eating, tending to the infant’s sleeping schedule or other care needs; a need to baby-proof surroundings; or weather and other environmental concerns. hoW to support infant movement FORTUNATELY there are many ways to break down these barriers—and none requires buying expensive baby gear. n ENCOURAGE TUMMY TIME: Two to three times a day, place an awake infant on their tummy for a few minutes, and then play and engage with them. This is the primary method of supporting movement for infants who are not yet mobile. n EXPLORE MOVEMENT TOGETHER: Doing activities that help infants learn about movement, such as bouncing the child on one's lap and singing and playing patty-cake or peekaboo, can encourage infants to move. Infants also watch what the adults around them do—including how active they are. n CREATE SAFE PLAY SPACE: As infants learn to move

and get better at controlling their feet and hands, even normal household objects, such as small items they can shove into their mouths and choke on, become potential hazards requiring adult intervention. Protect them by clearing clutter and removing potentially dangerous objects from a space that's at least 5 feet by 7 feet. n NO EQUIPMENT? NO PROBLEM!: It doesn't take new or costly gear to encourage infant movement. Use things around the house: Pillows can be piled into a "mountain" to crawl over. Mixing bowls and measuring cups can double as toys. Adults can also turn their own bodies into an infant climbing gym. For example, sit on the floor with legs spread out and encourage the infant to pull themselves up or crawl over them. n GET OUTSIDE: National guidelines recommend taking infants outside two to three times per day, weather permitting. Our research suggests children are more physically active when they play in parks, playgrounds and other open areas that allow for gross motor activities like crawling and walking. The benefits of active outdoor play may also include improved self-control, attention, communication and social development. Finally, it need not be up to parents alone. Research has linked social support by siblings and peers, child care providers and teachers with increased physical activity in children. THE CONVERSATION

How do I teach women empowerment to my kids?

THE drive for the empowerment of women has evolved through the years. When I was a preschooler, I remember witnessing the struggles of working moms. As I entered education, I also read about and at times witnessed myself the gender bias inherent in workplace. As I understood the world better, I felt truly bothered by how much family violence, whether physical or emotional, occurred to both women and men all over the world. Even today, because of culture and various reasons, gender equality continues to face a long road ahead. What eventually became clear to me is that gender

equality is primarily taught at home, and parents play a vital role in shaping their child’s view on this. The society we live in, regardless of what it dictates about gender, can be reinforced, or directed toward a better place by the parents’ decision to set a “better” example for their children. Many think that gender equality is a social issue. I believe it is equally a family issue, because how many times do family conflicts arise due to gender biases even within our own homes? Beyond this, societal actions are rooted from the accumulation of personal views...and personal views are influenced most by what we were exposed to growing up in our own families. Thus, for me views on gender, women empowerment and the like are equally important to teach to both my daughter and my son. My husband and I have a simple and personal view on this: each person has an equal right to pursue one’s fulfillment in life. This serves as a cornerstone on how each gender is respected and empowered in our household. I also like my kids to be exposed to and aware of how the issue of gender is evolving in society, both here and globally. It was good to know that

as part of this year’s International Women’s Day, UNFPA, the United Nations Population Fund in the Philippines, launched the campaign “Here for Her.” The campaign is a call to action engaging all stakeholders to accelerate the pace in empowering women and girls to realize their rights and full potential. This flagship campaign was launched to promote a commitment to end preventable maternal deaths, end unintended pregnancies, and prevent gender-based violence and other harmful practices. The launch of the Here for Her campaign was on International Women’s Day, with the theme of “Gender Equality Today for a Sustainable Tomorrow.” Achieving gender equality is further challenged by climate change. “Women and girls are effective and powerful leaders and change-makers for climate adaptation and mitigation,” shared Dr. Leila Sajii Joudane, UNFPA country representative to the Philippines. “Climate change is not gender-neutral. It is a multiplier of existing inequalities and vulnerabilities.” During humanitarian crises, UNFPA leads in upholding the health and dignity of women and girls by preventing and responding to gender-based

violence, addressing the delivery of emergency reproductive health kits, and ensuring safe childbirth. These efforts have been seen in previous calamities, including Supertyphoon Odette (Rai). UNFPA is the United Nations sexual and reproductive health agency. Their mission is to deliver a world where every pregnancy is wanted, every childbirth is safe, and every young person’s potential is fulfilled. The agency was created in 1969, with a Filipino, Rafael M. Salas, heading the agency as its first executive director. UNFPA globally is promoting commitments to achieving three transformational goals by 2030: ending preventable maternal deaths, ending unmet need for family planning, and ending gender-based violence and other harmful practices against women and girls including child marriage. Being aware of this information above allows us as a family to appreciate what so many people and organizations have fought for and continue to fight for to get to what we enjoy today. It also pushes us to be an agent of change in our own way, especially in mindset and in our daily actions, to pave an even better road ahead.

B6 Thursday, March 17, 2022

SB Finance is committed to provide fast and easy access to loans for immediate financial needs

Mimaropa top tourism players feted

OR the second time in the Covid-19 pandemic era, the Department of TourismMIMAROPA Regional Office recently feted outstanding individuals, public and private stakeholders which played vital roles in the restart of the tourism industry and transition to the new normal. The awards were given at the virtual Mimaropa Tourism Appreciation and Recognition Day themed “Fame: Soar High and Radiate Amid A Pandemic”. “This annual event recognizes the public and private stakeholders for their continued support and assistance to the success of the DOT’s programs. Likewise, this forms part of the incentives and benefits of this Regional Office to the accredited tourism enterprises which have maintained the quality standards in the MIMAROPA Region,” says tourism secretary Bernadette Romulo-Puyat. Topping the roster of honorees were 22 establishments which were given the Safe Travels Stamp Certificate by the World Travel and Tourism Council (WTTC) for their compliance to global health and safety protocols. Among these were Sunlight Ecotourism Island Resort in Culion; Club Paradise, Tag Resort, The Funny Lion, Two Seasons Island Resort and

Spa, and Coron Hilltop Resort in Coron. Awardees in El Nido were Pangulasian Island Resort, Lagen Island Resort, Miniloc Island Resort, Huni Lio, Casa Kalaw, Balai Adlao, Hotel Covo, Seda Lio and Charlie’s El Nido. Moreover, awardees in Puerto Princesa City include Daluyon Beach and Mountain Resort, Puerto Pension, White Breeze Palawan Boutique, Astoria Palawan, Hue Hotels and Resorts. Other WTTC Safe Travels Stamp recipients were Apulit Island Resort in Taytay, Palawan and Friday’s Resort in Puerto Galera. Individual awardees include Finesse Residencia proprietor Jereline Calderon of Puerto Galera, and Puerto Princesa City tour guide Jeffanny Alvarez Best for success stories of stakeholders who survived and thrived due to their attendance of DOT’s high-impact webinars. Also recognized were Hotel Centro operations manager Arthur Cayanan (Filipino Brand of Service Master Trainer) and San Jose municipal tourism officer Ann Roxanne De Vera (MakaNayon Cultural Formation Course and Cultural Leadership Institute Intensive Courses on Heritage Interpretation Course). Rounding up the individual honorees

were Benjamin Poliquit of Julian Tourist Inn, Gloria Basconcillo of White Beach Resort Bar and Restaurant, and Mylene Grace Quilit of Sikatuna Town Hotel who have attended the most number of DOT webinars. Private sector citations also went to Banwa Private Island which was named Private Island of the Year and Destination Deluxe Awardee for 2020, and Astoria Palawan which received the Asean Tourism Standards Awards for 2022. The local governments of Puerto Princesa City, the municipalities of El Nido, Coron, and Puerto Galera, and Calapan City were also recognized for having the highest number of DOT accredited tourism enterprises. Tourism assistant secretary and former MIMAROPA regional director Christopher Morales noted that under his watch in 2021, the Department conducted 45 trainings for the private sector and local tourism officers, and accredited 703 enterprises, for a running total of 785 accreditations. MIMAROPA is composed of the island provinces of Mindoro Occidental and Oriental, Marinduque, Romblon, and Palawan, which are known for lush terrestrial and marine biodiversity, and natural wonders.

F you’re looking for quick ways of getting extra money to start a business or pay for financial obligations, SB Finance’s (SBF’s) zukì mobile app may be your suking option. “Our vision at SB Finance is to be the trusted and preferred financial partner to Filipinos empowering them to make financial decisions for their present needs. Part of that vision is to deliver a customer-centric digital journey through our newly launched mobile app, zukì,” said Abbie Casanova, President & CEO of SB Finance. The zukì mobile app offers special loans for you and your family’s special needs. There’s Car4Cash, where car owners can have quick access to cash by just allowing SB Finance to safe-keep original copies of their car’s Official Receipt and Certificate of Registration (OR/ CR). There’s also Personal Loan—a collateralfree, multi-purpose loan up to PHP2 million for your immediate financial needs. “We don’t realize that, as work-fromhome has become a new standard, we have an unproductive asset right under our noses — the vehicle parked in our garage that is being utilized less than 30 percent of the time. Make that asset work for you by availing of our Car4Cash loan where you can get the cash you need and still keep using your car,” says Lovely Galang, SB Finance’s Head of Sales and Distribution of Secured Loans With zukì, SB Finance aims to improve customers’ financial literacy and provide them an easy-to-understand, needs-based, digital consumer experience. The app is easy, secured, and accessible anytime, anywhere, and on any smart phone. The zukì mobile app is a scalable cloud-based mobile solution running on one of the top cloud platform providers globally. Jericho Catu, SB Finance’s Chief

Information Officer, also tells us how being on the cloud is essential these days. “The cloud is no longer an option but a necessity for rapid growing businesses, not only to be competitive in the current financial industry landscape, but more importantly, to be flexible in responding to the changing needs and preferences of existing and future customers. It allows for agility, flexibility and immediate scalability” he says. On top of that, families transitioning to digital transactions need not fear. SB Finance has strengthened its security for customers using the app, with eKYC, location detection, liveness checks, and facial recognition. These functionalities aim to protect SBF customers from identity fraud. For families who need deferred payments, SB Finance offers Hooloogan — a credit line for customers to purchase items at partner merchants and avail of cash loans from PHP10,000 to PHP200,000 payable in easy installment terms. Customers can also use Hooloogan to avail of instant cash which can be paid a minimum of 10 percent monthly. For enthusiasts who would wish to buy their own motorcycles for convenience or leisure, there’s MotorsikLOAN — a specialized loan product with monthly interest rates for as low as 1.2 percent to 2.47 percent. SB Finance, launched in 2021, is a partnership between two Asian financial giants, Security Bank Corporation and Bank of Ayudhya (Krungsri) of Thailand, with a focus to help Filipinos from all walks of life. Embodying their “Dito, pwede!” tagline, SB Finance is determined to uplift Filipino families’ through their financial services. For more information, download the zukì mobile app or visit https://www.facebook.com/ SBFinancePH or www.sbfinance.com.ph

PDO, CLIP donate solar lamps for ‘Odette’ victims

UEBLO de Oro Development Corporation (PDO) and Cebu Light Industrial Park (CLIP) through the ICCP Group Foundation, Inc. (IGFI) donated solar lamps for Cebu residents who still do not have electricity after the aftermath of Typhoon Odette. A total of 900 units of solar lamps were distributed by PDO and CLIP to their host communities in barangays Basak and Babag in Lapu-Lapu City, and in barangay Canasujan in Carcar City as part of their continuing support to families affected by the typhoon. Previously, PDO and CLIP

distributed 2,000 kilos of rice and 8,000 liters of drinking water to these barangays in coordination with local government units. The ICCP Group is a diversified, mediumsized conglomerate engaged in investment banking, venture capital, industrial estate development, township development, and exposition facility complex management. Through IGFI, its foundation and social development arm, the ICCP Group, has developed corporate social responsibility programs that are designed to create value and contribute to social development.

New SSS chief clarifies retirement pensioners residing in the country are exempted from ACOP

EWLY-appointed Social Security System (SSS) President and Chief Executive Officer Michael Regino said today that retirement pensioners residing in the Philippines were still exempted from complying with the Annual Confirmation of Pensioners’ Program (ACOP) to continue receiving their monthly pensions. Regino said retirement pensioners living in the country were no longer required since October 30, 2017 to report to any SSS branch on their birth month to comply with ACOP. “We recognize the challenges brought about by the pandemic and we have suspended ACOP compliance starting February 2020 until September 30, 2021 to protect the safety and health of our pensioners,” Regino said. “We devised a way that will no longer require our pensioners to do the annual reporting to SSS. We implemented various verification procedures to confirm if a retirement pensioner is still alive and entitled to receive his/her monthly pension,” he added. Regino said the SSS required pensioners to annually report to SSS to ensure the rightful recipients would continue to receive their benefits. “We have established ACOP in 2012 to ensure that we are giving the benefits only to those who are entitled under the Social Security Law. ACOP protects the SSS fund from various kinds of fraudulent claims wherein some

beneficiaries still receive SSS pensions while the member is already deceased, especially for surviving spouses,” Regino explained. Regino clarified that there are only four (4) types of pensioners which includes survivor (death), total disability, dependent’s pensioners and retirement pensioners residing abroad who should comply with ACOP. They have until March 31, 2022, to conduct their yearly reporting online and other non-face-toface methods. Regino said that it was important for concerned pensioners to comply with this program so they could enjoy receiving their monthly pensions. “Non-compliance with the yearly reporting will lead to temporary suspension of their monthly pensions starting May 2022,” he added. The new SSS chief explained that pensioners could send their ACOP compliance through the SSS corporate e-mail address of the nearest SSS branch or service office if they reside in the Philippines. "They also have the option to send their

compliance through mail or courier service addressed to the Branch Head of nearest SSS branch if they reside in the Philippines. If residing overseas, they can send it to the SSS OFWContact Services Section located in the SSS Main Office in Quezon City, or the nearest foreign representative office," Regino said. Regino said they could also opt to do their ACOP compliance through video conferencing via Microsoft Teams for pensioners residing abroad. They can request an appointment at ofw. relations@sss.gov.ph. “On the other hand, total disability pensioners residing in the Philippines can comply with ACOP through a home visit by sending a written request via e-mail or mail addressed to the Medical Services Section of the nearest SSS branch,” he concluded. Pensioners may access the directory of SSS branches and foreign offices for their respective e-mail addresses and location through this link, https://bit.ly/ SSSDirectory. Furthermore, Regino urged pensioners to follow or subscribe to the agency’s official social media accounts through its Facebook page at “Philippine Social Security System–SSS,” Instagram at “mysssph,” Twitter at “PHLSSS,” YouTube Channel at “mysssph” or join the community on Viber at “MYSSSPH Updates” or visit the uSSSap Tayo Portal at https://crms.sss.gov.ph.

Power Mac Center woos new-to-iPhone users

OR Filipino Apple enthusiasts and newto-iPhone smartphone users, now is the perfect time to find the right iPhone for you. Apple premium reseller Power Mac Center (PMC) kicks off its special 2022 campaign “iPhone for All,” which invites Filipinos to rediscover the beauty of the iPhone and makes it easier on the pocket through great discounts, flexible payment offers, and wide availability both in stores and online. “Since 1994, Power Mac Center has not wavered in its commitment to make the Apple ecosystem closer to the local market. Our top priority always is to deliver quality and premium services, in a way that’s also attuned to customers’ needs. Now that the world is reopening, we’re making the shift convenient for them as we’re excited to once more see how people stretch their talent and imagination using the iPhone as their productivity and creativity tool,” said Joey Alvarez, Power Mac Center Director of Product Management, Marketing, and Space Planning. The “iPhone for All” campaign allows PMC to showcase the iPhone not as a mere nice-to-have or even a luxury like some misconception, but a quality tech investment full of features built for practically every kind of passion and profession. iPhone’s latest series features the most advanced dual-camera system, lightning-fast A15 Bionic chip, Super Retina XDR display, Superfast 5G, and the best battery life ever in an iPhone. It’s also worth mentioning how the iPhone works beautifully with

other Apple devices, making the move from device to device convenient, seamless, and perpetually in sync.

Easy installments with zero interest

PMC lets you pay for your dream iPhone— or any Apple device—your way in easy installments with zero interest and no down payment to partner major banks and noncredit card installment options such as Home Credit. Customers can take home the new iPhone 13 (128GB), for example, at only P2,187.08 per month for 24 months, valid for select credit cards until December 31, 2022. Those without a credit card may also visit select Power Mac Center or The Loop stores nationwide to inquire about Home Credit financing options. Full terms and conditions are available at <about.powermaccenter.com/ installment-options>. Meanwhile, you also have the option to trade your old phone of any brand for store credits and use it to upgrade to the iPhone you’ve been eyeing. For a hassle-free experience, PMC is bringing its UpTrade program (powered by CompAsia) to customers in more convenient ways. Visit a Power Mac Center or The Loop branch to have your device evaluated. PMC also offers hybrid shopping experiences via Enhanced Contactless Shopping <bit.ly/ECShopping> and is slated to open more stores this year, especially in the provinces to bring the Apple experience closer to all.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Expert says mental health issues brought about by Covid-19 to take longer to beat By Rory Visco

Contributor

HE pandemic is slowly subsiding but ment a l health problems among Filipinos are reportedly on the rise and perhaps may stay even longer compared to the infection. Some mental health issues like depression, anxiety, even suicide, were seen to increase globally, and some data mentioned that 20 percent of Covid-19 survivors experienced mental health issues within three months of the infection, most likely because of stress, the impact of lockdowns, and the fear of even their loved ones testing positive of the dreaded disease. Even health care workers and frontliners suffered, basically from the idea that they contract the disease and pass it on to their family or loved ones.

The mental health impact of Covid-19

The University of the Philippines, in partnership with UP Manila NIH National Telehealth Center and in cooperation with UP Philippine General Hospital, again held its weekly “Stop Covid Deaths” webinar series,

with the latest episode titled “The Rising Tide: Mental Health Outcomes of the Pandemic.” Dr. Evangeline dela Fuente, who heads the Department of Psychiatry and Behavioral Medicine at the UP College of Medicine, said the pandemic has taken a toll on the world, where it claimed many lives and upended global economies in many unprecedented ways. Many restrictions in mobility, on the other hand, affected physical movements and social interactions that are integral to the promotion and maintenance of mental health. How did Covid-19 disrupt people’s lives? A US study said that the disease caused a decline in the number of steps most people took, from 10,000 to only 4,600, an increase of 25 to 30 minutes of sleep per night, socialization time declined by over half to less than 30 minutes, screen time doubled to over five hours a day, and increase in risk of clinical depression ranging from 46 percent to 61 percent, to as high as 90 percent. “Undoubtedly, the pandemic has rea l ly been stressful to all of us,” Dr. dela Fuente said. S he s a id t h at peo ple who are chronically

Opposition vs vape law growing; veto of bill pushed By Claudeth MoconCiriaco

ore than 5,000 people from Davao City and the Island Garden City of Samal recently joined Parents Against Vape (PAV) in its appeal to President Duterte to veto Senate Bill 2239 or Vape Bill 2022. PAV is an alliance of parents, teachers, public health experts, and community groups based in Davao City and Samal Island. Worried that the provisions of vape bill will lead to easier access to heated tobacco products (HTPs) or e-cigarette products, PAV— along with more than 5,000 people who signed the petition to veto the vape bill— urged President Duterte to veto the SB 2239. “A s p a re nt s , w e a re alarmed at the provisions of the bill. The Vape Bill 2022 lowers age of access, allows flavors that entice children and the youth, makes them available online, allows the use of cigarettes in public places, and transfers its regulation to the Food and Drug Administration,” said the group in their letter signed by Imelda EsposadoGocotano, PAV Convenor.

Strict regulation

In a statement, the PAV appealed to Duterte to support the strict regulation of vape products. “We have enough laws and policies that strictly regulate these harmful products which you issued. Thus, we humbly ask you, Mr. President to protect your legacy, maintain these laws and policies, and allow their full implementation. Mr. President, please veto the vape bill 2022 for the full protection of our children and the youth,” the group appealed. This was echoed by law-

yer Benedict Nisperos of HealthJustice Philippines saying, “The vape bill 2022 is a profit-oriented and industry-sponsored bill masquerading as a public health policy.” “We already have a comprehensive and strict regulatory regime for vape regulation as embodied in Republic Act Nos. 11346 and 11467 and Executive Order No. 106 signed by the President. The Vape Bill 2022 reverses the policy of the Duterte administration against these addictive and toxic products,” Nisperos said.

Reverses key policies

He stressed that vape bill “reverses” the key policies that will ensure that kids are protected from these harmful and toxic products. He cited that the age of access restriction is reduced from 21 years old to 18 years old when the higher age restriction is the global best practice. “The regulatory power is taken away from the Food and Drug Administration and exclusive jurisdiction is given to the Department of Trade and Industry, when these toxic products should be under FDA’s jurisdiction. While FDA has jurisdiction on vape products with health claims, the vape industry can easily market their products as consumer products not as health products. No one will have to undergo FDA regulation. All products escape FDA scrutiny. In short, FDA was creatively sidelined by this industry-favoring bill,” he added. “The Vape Bill 2022 allows public vaping as a default while EO106 prohibits it as a default. The enumeration where these products can be used in public is more comprehensive in EO 106 than this new bill,” he concluded.

stressed can get chronic stress, which is dangerous, she said, a situation that may lead to high blood pressure, lower fertility, weakened immune system, an increase in heart or stomach problems. Healthcare workers were also affected by chronic stress that affected their quality of life and mental health. She cited a local study in 2020 that showed majority of health-care workers were affected psychologically, where 70.74 percent displayed anxiety symptoms, and 50.97 percent showed depressive symptoms. “Many causes of anxiety among health-care workers, based on a study, are the fear of being infected, unknowingly infecting others, concerns for loved ones’ welfare, uncertainty about support, and dissatisfaction with health information.” So what do we want to do now? Dr. dela Fuente pointed to becoming resilient, or essentially the ability to recover or adjust to misfortune or change, where the recommendation was “be like a bamboo; bend but don’t break.” “There are resilience trainings that can change the brain and enhance resilience.” There should also be enough sleep to boost physical health, about seven to eight hours daily, for the body’s recovery and healing from daily stress, she said. Also needed is physical exercise to boost physical health, and always practice mindfulness or being attuned to the present and not dwell on the past. Dr. dela Fuente also explained that part of being resilient is to be able to express how one feels. “If there is anything distressful, create a narrative in your mind and either

write it down or better yet, share it with a trusted person. Plus, we can avoid being overwhelmed or carried away by our emotions if we have a good emotional regulation. Being thankful also enhances resilience, where expressing gratitude may have lasting effects and boost psychological well-being.” She also had this sort of checklist to know when to ask for help: if coping becomes a struggle, if stress gets in the way of activities for several days, when drugs or alcohols are already misused, when there are thoughts of harming one’s self or others, and if already being treated but feeling new or worsening symptoms.

Addressing wellness of students

For Dr. Blesile Suzette Mantaring, Director of the Office of Student Affairs (OSA) of UP Manila (UPM), the school came up with programs to help address the wellness of UP Manila students. Even before the pandemic, Dr. Mantaring said UP Manila already has its PsychoSocial Wellness Network (PSWN) that helps address the emotional needs of students. “Prior to the pandemic, we already saw increasing mental health concerns. With the network, it helped widen the reach of mental health care. PSWN is a collaboration between seven to nine colleges in UPM to foster a healthy and responsive campus climate. There is a representative from each college, guidance counsellors from OSA, representatives from the student council, and one from the Department of Psychiatry and Behavioral

Medicine.” Dr. Mantaring also said they employ a Multi-tiered Public Health approach approved by the World Health Organization (WHO) where they promote mental health among students, prevent students at risk from developing mental health problems, plus interventions to treat mental illness. At the start of an academic year, she said all students should have a yearly physical examination and mental health evaluation as a requirement before registration. There are also individual counseling services for students with mental health concerns delivered via platforms such as e-mail, the LiftUp counseling mobile app, through audio or video calls, or mobile services through calls or SMS. The OSA also started an online mental health survey that started in 2020 to assess the emotional state and resilience of students using “DASS21” or the Depression, Anxiety and Stress Scale to measure the emotional states of depression, anxiety and stress, plus the Brief Resilience Scale to measure the ability of students to bounce back and recover from stress. “Data gathered from these can be accessed by Student Relation Officers of each college.” She said these programs were designed to address the well-being of students.“Surveys and online assessments will help our office to develop programs and mechanisms to meet all the health needs not only of students who have mental health concerns but all of our students,” Dr. Mantaring concluded.

Munti posts three ‘Covid-free’ communities By roderick l. Abad Contributor

OLLOWING a downtrend in cases of coronavirus in the country, one-third of the nine barangays in Muntinlupa have been “Covid-free” since March 15. Based on the Covid-19 updates posted in the local government’s official Facebook page, the three communities in the city that have reported zero active case are Barangays Buli, Putatan, and Sucat. The remaining communities have only single-digit records. The locality’s confirmed cases during the period in review have aggregated to 39,866, with 25 active cases, 39,227 recovered patients, and 614 deaths. Meanwhile, the Muntinlupa Swabbing Team has so far recorded negative results in reverse transcription polymerase chain reaction or RT-PCR and antigen tests since the start of this month.

Highest jab records

MUNTINLUPA garnered the high-

est coverage of total targets among Metro Manila’s local government units (LGUs) in the recent three-day National Vaccination Days campaign dubbed “Bayanihan, Ba kuna han Part IV.” From March 10 to 12, the city administered 7,798 doses, surpassing the target of 5,099 individuals for the three-day inoculation activity. This translates to 152.93 percent coverage of the target. Following Muntinlupa were Las Piñas with 140.42 percent target coverage; Malabon, 130.88 percent; Mandaluyong, 116.61 percent; and Valenzuela, 114.92 percent. The overall doses administered throughout the National Capital Region reached 160,763 individuals or 85.74 percent of the aggregate target coverage.

Vaccination transition

GIVEN the improving local inoculation coverage, Muntinlupa City Health Office announced that vaccination initiatives will gradually shift from mega centers in malls to health centers. “The Festival Mall vaccination site

will be closed down permanently on March 19, 2022. All those scheduled for second doses will be informed regarding the date and new venue,” said the post of Muntinlupa Covid-19 Vaccination Program (MunCoVac) on Facebook. Despite the improving Covid-19 situation in the city and downgrading of alert level status, Mayor Jaime Fresnedi encouraged residents not to be complacent, keep on heeding the minimum health protocols like wearing of face masks and washing of hands, and get vaccinated or get their booster shot. As of March 13, a total of 498,449 doses of Covid-19 jab have been administered in the city, or 130 percent of the target. Of the totality, 457,328 have been fully vaccinated, or 119 percent of the target. The number of those who received their booster shot has stood at 100,223. The LGU has inoculated 39,637 minors (12 to 17 years old), translating to 72 percent of the age group’s target population. A total of 8,797 children aged 5 to 11 has received their first dose of Covid-19 vaccine.

Thursday, March 17, 2022 B7

St. Luke’s conducts first successful intra-arterial chemotherapy on pedia eye cancer patient

rowing up, it may be common to hear our parents and relatives remind us to take care of our eyes. However, there are instances where care and nutrition are not enough. An example of this is when children are afflicted with retinoblastoma, a cancerous disease where a malignant tumor grows in one (unilateral) or both (bilateral) eyes. It is considered a genetic disease, caused by a mutation in the child’s genes. Similar to other cancers, retinoblastoma is due to abnormal cell growth, particularly in the tissues of the retina.Last February 16, 2022, St. Luke’s Medical Center (SLMC) made history as the first-ever hospital in the Philippines to successfully conduct and complete intra-arterial chemotherapy (IAC) on a three-year-old patient suffering from late-stage retinoblastoma. “Retinoblastoma is a deadly disease if not treated immediately. While survival rates are high [90 percent] in developed countries, it is less than 50 percent in the Philippines. This is due to late detection and the limited number of specialists who have experience in treating this disease,” said Dr. Andrei Martin, the attending physician of the patient, and one of only a handful of ocular oncologists in the Philippines.

Bilateral retinoblastoma

Dr. Martin’s patient, a three-year-old male child, is already in Group E of bilateral retinoblastoma. Grouped as ABCDE, stage E is the most severe stage of the disease. Due to the severity of the disease, the child’s other eye was removed to prevent it from worsening. “His parents have been consulting with us for the past one and a half years to treat the child. We have tried a range of treatments, such as systemic chemotherapy, to control the tumor, but with little success,” Dr. Martin said. “It even reached a point where other services recommended to stop the systemic chemotherapy due to the side effects. Instead, we recommended removing the affected eye. However, the child’s parents were against it, and understandably so, since this is now his only remaining eye,” Dr. Martin added. Running out of options, Dr. Martin reached out to several SLMC doctors to form a team to administer intra-arterial chemotherapy or IAC. IAC is a form of chemotherapy delivered via intravascular microcatheter that administers medicine directly to the patient’s eye through the ophthalmic artery. “IAC involves infusing the chemotherapeutic agent into a specific artery, which in this case is the ophthalmic artery. Since the treatment is being infused into a specific area, the rest of the body is spared of side effects that are usually associated with systemic intravenous chemotherapy,” Dr. Martin said.

Recovery

Post-treatment, the pediatric patient is recovering well. According to Dr. Martin, the patient’s mother said that her child was behaving as if nothing happened, noting the child’s high energy and playfulness. However, due to the child’s late-stage retinoblastoma, there is still work to be done. “The next step for us will be to monitor the child, such as checking for signs of excessive bleeding in the incision area where the catheter was inserted and to monitor the response of the tumor to the intra-arterial chemotherapy. Research also shows that the success rate of IAC is maximized after three sessions, so he would need to undergo two more sessions of IAC,” Dr. Martin said. Dr. Benjamin S.A. Campomanes, Jr., SLMC’s Executive Vice-President and Chief Medical Officer, attributes this historical success to SLMC’s cast of highly-trained doctors who made diagnosis and treatment possible. “The IAC procedure was made possible due to the valuable expertise of Dr. Andrei Martin as our ocular oncologist and the Interventional Radiology Team led by Dr. Dennis Villanueva and Dr. Angelito Tingcungco,” said Dr. Campomanes, Jr. “To complete the team, the procedure also involved the expertise of Dr. Allan Gamo (Anesthesiology-Pediatric Anesthesia) and Dr. Luz Del Rosario (Pediatric Hematology-Oncology),” Dr. Campomanes, Jr. added.

TMC Clark’s iMD: Emerge’s digital solution for safer, efficient health-care service

he Medical City Clark prides itself as a healthcare institution advocating early detection of illnesses and a safe zone for all patients. As the forefront referral center in Central Luzon, the daily management of appointments is vital in ensuring a healthy society during the pandemic’s height and in today’s better normal.

A demanding task but plausible

Accompanied by Emerge’s digital solution, TMC Clark accepted the challenge and anchored on online patient presence. Understandably, with lockdowns and travel limitations being implemented, people became scared of getting check-ups or visiting hospitals to get an appointment. TMC Clark and Emerge constructed a simple, easy, and safe way to check the doctors’ availability, assess their options, and book an appointment through iMD, an online booking system. (hyperlink to https://themedicalcityclark.com/imd/)

Even before the pandemic, the patients were more digitally-inclined and more so now that safety protocols have been easing up. An online appointment scheduling service gives them the freedom and opportunity to choose their doctors after learning about their specialization and other information, including their clinic schedule and HMO accreditation, before actually setting an appointment.

Scheduling system

The system simplifies the scheduling system for patients with their doctors. Kevin Alfonso, TMC Clark Assistant Marketing Manager, pointed out how the iMD service became a new “moment of truth” for the hospital. “Even before going to the facility or experiencing any actual patient care, with iMD, patients are getting that elevated patient partnership experience with TMC Clark that makes such experience unique compared with other providers,’’ added

Alfonso. iMD raised the bar for providing initial diagnostic, outpatient treatment, and surgical care access. During the pandemic, many patients resorted to self-diagnosis, googling their symptoms, which unfortunately, resulted in self-medication, which could worsen their illness. With iMD, they can get the check-up they need without any risks of getting COVID-19, lessening their travel, and addressing concerns if they have a hard time reaching TMC Clark hotlines, especially during an influx of patients calls. This is part and parcel of TMCC’s advocacy that patients should never delay or put on hold matters of health and Emerge’s mission in striving to improve customer experience by using digital innovations. (hyperlink to https://emerge.com.ph/our-approach/)

Customer execs

It doesn’t end there. As patients book with iMD, TMC Clark’s Customer Ser-

vice and Red Coat Ambassadors are committed to delivering end-to-end assistance. If there are unexpected delays or cancellations on their doctor’s appointments, the latter is there to provide alternatives and work on adjustments. A beneficial scheme as the community slides into the post-pandemic phase. This collaboration between TMC Clark and Emerge proves the reality that digital-first is the new rule to a society where businesses and services must adapt and shift their focus on digital solutions, not only for business growth but to provide the necessary services to thrive during difficult times. “Working with a reliable partner like Emerge gives us that feeling of reassurance. We encountered some challenges like frequent changes in doctors’ schedules, the influx of patients accessing the platform that may occur during the surge, confusion among the end-users, but Emerge was there to save our day. The commitment and concern not only to the project or TMC Clark but also to our patients make a service provider like Emerge a lifetime business partner that you can always rely on,” relayed Alfonso. iMD service is not just a project but a result of common objectives that TMC Clark and Emerge share ensuring people of worthwhile care rooted in excellence, compassion, and innovation.

Sports BusinessMirror

THE New Jersey Nets’ Kyrie Irving’s 60-point barrage at Orlando on Tuesday is the seventh 50-point effort in the National Basketball Association so far this month. AP

| Thursday, March 17, 2022 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

50-SOMETHING’S HABIT FORMING T URNS out, March has more madness than just college basketball. The National Basketball Association (NBA) is getting a taste as well. Kyrie Irving’s 60-point barrage at Orlando on Tuesday night was the seventh 50-point effort in the league so far this month—with half of March remaining. His career-best performance came one night after Minnesota’s Karl-Anthony Towns also scored a career-high 60, a number nobody in the league had reached this season until this week. Even Kevin Durant—one of the most elite scorers ever, someone who had 53 in Brooklyn’s win over New York on Sunday—is marveling at what’s happening right now. “Sixty, the night after Karl Towns had an incredible performance and then to have Kyrie do it the next night, the league is an amazing place right now,” Durant said. “You’re seeing a lot of talent and skill being displayed, on display, every

night. And this was one of the elite ones.” All of March has been a showcase for the elite ones. March’s seven 50-point games have come in a span of 11 days. LeBron James started it on March 5 by scoring 56 for the Los Angeles Lakers against Golden State. Jayson Tatum had 54 points for Boston one day later against Brooklyn. With that, the madness was off and running. Irving had 50 on March 8 at Charlotte. James had 50 again on Friday against Washington. Durant had his 53 on Sunday, Towns answered that with 60 on Monday and Irving then had a 60-point night of his own. “As you see across the league, guys are just putting up crazy numbers,” Irving said. It matches the highest number of 50-point games in the same calendar month in the NBA in the last 60 years. August 2020 also had seven 50-point efforts, four of those being playoff games at the restart bubble inside Walt Disney World. There were also seven such games in March 2019.

The last month with more 50-point games in the NBA was nearly six decades ago—all the way back to December 1962. There were nine of them that month, six by Wilt Chamberlain of the San Francisco Warriors, the other three by Elgin Baylor of the Lakers. Chamberlain had eight all by himself that October. He made 50-point nights look ordinary in those days; the NBA had 19 of them in December 1961, 15 in January 1962 and 12 in February 1962. They’ve been considerably more sporadic since. That is, until this week. “I feel like any time I touch the ball, I’m unstoppable,” Towns said after his big night. These days, he’s not the only one who seems to be that way. “When you're a kid, scoring a bunch of points, it means something," Irving said. “But when you're in the best league in the world, doing it against the greatest athletes that are playing our game, it means a little bit more." AP

Alaska forces rubber match vs NLEX side

LASKA doesn’t want to play its final game in the Philippine Basketball Association (PBA) yet on Wednesday afternoon as the Aces masterfully scored a 93-79 rout to extend their quarterfinal duel with the NLEX Road Warriors to a do-or-die Governors’ Cup playoff at the Smart Araneta Coliseum. Every PBA fan knows that the Aces are disbanding but with the way they played against the Road Warriors, they seemed to be more than inspired to live another day—or if they beat NLEX again on Saturday several more days. New import Mar Cornelius Saint Ford and Jeron Teng put their acts together for the Aces who bucked a sluggish first quarter to avoid exiting the league where they were part of for 35 seasons on a disappointing note. Ford, who replaced the injured Olu Ashaolu, piled up 17 points and 14 rebounds, while Teng finished with 16 points for the Aces who doused the Road Warriors’ twice-to-beat advantage to forge the sudden-death game for a potential slot in the best-of-five semifinals. “We didn’t want it to be our last game,” Alaska coach Jeffrey Cariaso said. “That’s a motivation [playing a final game] and a challenge even more, so hats off to the guys for playing great.” Abu Tratter racked up 12 points and grabbed 10 rebounds for Alaska. NLEX’s new import Cameron Clark debuted with 25 points and 12 rebounds but couldn’t lead his team to a quick entry to the semifinals. After trailing 12-26 at the start of the second quarter, the Aces unleashed a fiery 28-12 attack to seize the advantage at the half, 40-38. Mike Tolomia scored all of his 10 points in the third period as the Aces outscored the Road Warriors anew, 24-17, to establish a 64-55 cushion entering the last period. The Aces made sure the Road Warriors won’t recover and padded their lead to 84-67 on Ford’s threepointer with four minutes to go. Josef Ramos

NAVY’S MISSION: HOLD THE FORT By Josef Ramos

THE PLDT High Speed Hitters led by head coach George Pascua meet PLDT executives led by PLDT Chairman Manuel V. Pangilinan, PLDT Inc. and Smart Communications Inc. President and CEO Alfredo Panlilio, PLDT and Smart Head of Sports Jude Turcuato, and PLDT Consumer Home Business Advisor Jeremiah De La Cruz at the company’s headquarters in Makati.

#AtletangAyala, DLSU forge MOA for scholarships

HE Ayala Center for Excellence in Sports (ACES) and De La Salle University (DLSU) signed on Wednesday a memorandum of agreement (MOA) in support of the #AtletangAyala, a program that seeks to assist national athletes during their athletic and post-athletic careers. Under the MOA, DLSU will provide scholarships for Atletang Ayala national athletes who would like to continue their education. It will enable these athletes to matriculate in DLSU’s world-class programs, eventually earning degrees that will support their career development. “We are happy to partner with the Ayala Group of Companies in support of the Filipino national athlete,” DLSU president Bro. Bernard Oca said. “De La Salle University has been very blessed to count many illustrious national athletes among its alumni, such as Lim Eng Beng [basketball] and Ian Lariba [Olympic table tennis]. We are proud to be able to continue that tradition, this time in partnership with ACES.” “We are very grateful to have DLSU as the education partner for the Atletang Ayala program. DLSU has long been an innovator in the development of world-class curricula that are delivered in ways that suit athletes’ lifestyles and requirements without compromising its high academic standards,” ACES Program Director Jan Bengzon said. “These qualities fit seamlessly with the Atletang Ayala program and DLSU’s scholarships will be a much-needed benefit for program athletes,” Bengzon added. Interested athletes may apply here: https://bit. ly/AtletangAyala. Deadline is extended to April 1. For more information, please contact ACES via the following email address: aces@ayala.com

F2 Logistics’ middle blocker Majoy Baron flaunts her skills at the net as she beats Army’s single coverage put up by Jeanette Villareal.

CARGO MOVERS OPEN BID ON HIGH NOTE F 2 LOGISTICS was dragged into an extended duel but still managed to launch its Premier Volleyball League (PVL) debut on a winning note by beating Black Mamba Army, 25-15, 25-18, 21-25, 25-22, to set the tone in the Open Conference on Wednesday at the Paco Arena Events and Sports Center in Manila. The Cargo Movers shook off the rust of nearly four months of inactivity, putting up a performance that proved enough to outhustle and dominate an Army side that failed to sustain its big third set fightback behind veteran Honey Royse Tubino. “We just held on, it’s our first game so, we’re trying to feel our way around,” said Benson Bocboc, the designated head coach of F2 Logistics with former mentor Ramil de Jesus listed as the team consultant. “Everyone is still building that (team) connection.” The Cargo Movers, who had to delay their

keenly awaited PVL debut in the league’s pro inaugurals last year due to player injuries, imposed their power and will early to sweep the first two sets in emphatic fashion. But the Lady Troopers came out of the third set an organized lot with Tubino anchoring their gutsy stand by going 9-of-20 on attacks, the last giving the Troopers a 23-21 cushion before an F2 net violation and a play miscue sent the match into a fourth set. Army kept the game close in the ensuing frame but the Cargo Movers unleashed a strong finishing kick to frustrate their rivals and complete their one-hour, 44-minute victory in Group A play of the short, month-long tournament organized by Sports Vision. Kim Dy fired 20 hits, including four blocks, while Ara Galang, Majoy Baron and skipper Aby Maraño

backed her up with a combined 30-point output, and playmaker Iris Tonelada produced 27 of the team’s 32 excellent sets to help anchor the victory. “We haven’t played against Army and we know they are tight in defense,” added Bocboc. “They also have several players who contributed to their attacks.” But it was veteran Tubino who stood out in their losing stand, producing the lone double-digit output of 18 hits with new recruit Mich Morente adding nine points and seasoned MJ Balse-Pabayo and Jeanette Villareal chipping in six hits apiece. Army actually had more attacks—48, seven more than F2, but the Cargo Movers dominated the net on defense, coming through with 10 blocks, with Dy and Maraño combining for seven, against their rivals’ one, courtesy of Villareal. F2 also scored six aces against none by Army.

Pros brace for new season at fabled Luisita in Tarlac

HE country’s touring pros gird up for a fresh season in new normal with a busy calendar lined up for both the Philippine Golf Tour (PGT) and the Ladies PGT starting with the International Container Terminal Services Inc. (ICTSI) Luisita Championship on

Tuesday at the fabled Tarlac layout. Notwithstanding the long layoff, with the men’s side being out of action for a year, the fact that the circuit will finally resume with a full schedule is enough to energize the touring pros, eager and thrilled to hit the fairways again in pursuit not only of golfing honors but also of

livelihood sustainability. With the lowering of Covid alert levels in the country, both circuits are now back in the spotlight although strict protocols will be enforced to ensure the health and safety of all players along with the event and course personnel.

Top MTB rider gets nutritional support

A ‘KNOW YOU CAN’ US Women’s Open champion Yuka Saso makes a

courtesy call with AXA Philippines executives as the newest partner of global insurer AXA. The partnership resonates with the brand’s “Know You Can” spirit, which is rooted in the understanding that confidence is essential for people to successfully achieve their goals like Saso has. Saso poses with AXA Philippines Chief Customer Officer Nandy Villar.

JINOMOTO Philippines Corp. (APC) officially signed mountain bike athlete Ariana Evangelista as its sponsored athlete in the 31st Southeast Asian Games that Vietnam is hosting in May. Evangelista, fondly called by her fans as the “Queen of Trails,” is a three-time national champion and winner of the under-23 gold medal at the 2018 Asian championships. Evangelista is hoping to deliver a medal from the Vietnam SEA Games. To help Ariana achieve her full potential, APC will support her through the “Victory Project” which Ajinomoto Co Inc. started in 2003 to support the conditioning of top-level athletes in Japan and conduct nutritional support activities utilizing the power of amino acids, including providing products such as aminoVITAL and promoting the Winning Meals Kachimeshi. Ajinomoto’s Kachimeshi (“Winning Meals”) concept supports elite athletes in building winning physiques for optimum performance.

From 2018, the “Victory Project” was rolled out in six Ajinomoto Group Companies in the ASEAN region. The contingents involved in the project also went on a winning streak during the 30th SEA Games, among them karate athlete Junna Tsukii and pole vaulter Ernest John “EJ” Obiena, both supported by APC. “Now, my focus is to train the best that I can. And training won’t be complete without the proper nutrition and supplementation,” Evangelista said. “Thanks to Ajinomoto Philippines for the support they are giving me especially for this type of endurance sport.” “We are glad about the fact that we could help Filipino athletes achieve their full potential. We are committed to supporting them and hope that Ariana and the rest of the Philippine delegation would soon realize their muchcoveted victories not only in SEA Games, but in other world championships,” Ajinomoto Philippines Corporation President Tsutomu Nara said.

ARLAC City—Ronald Oranza and his Philippine Navy-Standard Insurance (PNSI) teammates have the luxury of occupying, ironically, the high ground as the 11th LBC Ronda Pilipinas took a day’s rest before resuming with the crucial final four stages starting on Thursday. Oranza leads the general classification after conquering the grind on the notorious Sungay Road connecting Talisay (Batangas) and Tagaytay City in Stage 6 on Tuesday, the same day the Navymen started to bury the anchor deeper in their effort to retain the team classification title. Oranza and his teammates know the difficult task ahead as the Ronda climbs further north where climbs on Sierra Madre’s northern hills and the Cordillera’s heading to Baguio City would make or unmake champions. “It’s another race, but with more climbs,” Oranza, 29, from Villasis (Pangasinan) told BusinessMirror on Wednesday. “And I expect Jan Paul [Morales] and the others to push themselves harder to beat us. But we’ll do our best to protect our lead.” The 2018 champion Oranza has a tenacious 42-second lead over Morales, himself a former top PNSI rider whose winning skill set is now benefitting his new team Excellent Noodles. Go For Gold’s Jonel Carcueva, winner of Stage 5, trails Oranza by close to three minutes. PNSI, on the other hand, has the team title clear on its radar. The Navymen lead Excellent Noodles by eight and a half minutes and Go for Gold by 18 minutes

PHILIPPINE Navy-Standard Insurance team support try to relieve Ronald Oranza’s cramps after Tuesday’s Stage 6. heading into the 180.4-kilometer Stage 7 from here to Baler, Aurora. The Navymen took it easy on Wednesday with their coach, Reinhard Gorrantes, sending his riders to a 20-km warmupmid-mor ning ride to Gerona town and back. When they returned, boxes of pizza filled their hotel rooms as the Navymen celebrated their teammate Archie Cardañia’s 27th birthday. After the hearty lunch, Gorantes turned to serious business. “It’s only a 42-second time difference and Excellent riders are tough opponents,” said Gorantes, also a national road team coach like Go For Gold’s Ednalyn Hualda. “We expect them to put a lot of pressure to us.” Morales, the 2016 and 2017 champion, expressed confidence the can get the leader’s red jersey back. “Anything can still happen in the last four stages so everybody still has a chance,” said the 36-year-old Morales, the overall leader from Stages 1 to 4. After the stage to scenic Baler, the race resumes with Stage 8, a 174-km ride from Baler to Echague (Isabela), followed by the 193.20 Stage 9 Santiago (Isabela) to Baguio City climb and finally the Stage 10 criterium in the summer capital.

Volleyball journeys Tessa Jazmines tessa4347@gmail.com

PART OF THE GAME

T’S going to be a super busy year for Philippine volleyball, said Philippine National Volleyball Federation (PNVF) president Ramon “Tats” Suzara at the send-off press conference for the men’s volleyball team and the beach volleyball men’s and women’s teams last Tuesday via Zoom. The PNVF head has maintained a scorching pace of tournaments, invitationals, international events and key alliances for the sport, making its burgeoning number of volleyball fans excited about what’s in store. First up is the 31st Southeast Asian Games in Hanoi in May where the Philippines intends to sustain its good showing in the last SEAG held in Manila in 2019. (The women’s beach volleyball team, anchored on the spirited tandem of Sisi Rondina and Bernadeth Pons scored a bronze, while men’s volleyball—which impressed with the scintillating performances of Mark Espejo and Bryan Bagunas, among others—brought home the silver.) After the SEAG comes the 2022 FIVB Volleyball Nations League (VNL) which will be held at the Araneta Coliseum from June 21 to 26. The world’s best volleyball players, men and women, will see action and the public can buy tickets to see the pool matches. Top-level players from Japan, Thailand, China, Poland, Belarus, Canada, France, Slovenia, Argentina, Italy, Germany and the Netherlands will dazzle volleyball fans. The Federacion Internationale de Volleyball, or FIVB, has given the Philippines the chance to host this prestigious volleyball event since it started in 2018. In August, the AVC Asian Cup will be held in Clark and Subic. In September, the Philippines will return for the first time to the Asian Games since 1974 in Tehran for men’s volleyball and since 2018 in Jakarta for the women. The Philippines intends to send not just men’s and women’s teams but also the beach volleyball squads to Hangzhou and Zhejiang in China. But the first order of business is really the SEAG, postponed to this later date because of the havoc wreaked by Covid-19 on sports and playing schedules. Both coaches and players are confident they can do even better in Hanoi.

“This is our first time to train abroad. We’re aiming for nothing less than the gold,” Sisi Rondina said. “We’ll do everything we can to give back the support we’re getting from the PSC, the POC, the PNVF and Rebisco,” chimed in Bernadeth Pons. “Ibibigay naming lahat. Hindi namin sasayangin ang tulong. Dugo’t pawis ang ibubuhos namin para makuha ang gold,” Anthony Arbasto said. The men’s volleyball and men’s and women’s beach volleyball teams are going to work hard in the next few weeks. The beach volleyball teams are training in Brisbane from March 15 to 28. The men’s team flies to Qatar on March 20, while the women’s team—with many players still to see action in the Philippine Volleyball League—are due in Brazil on April 12. Their intensive training in world-class environments in top-notch volleyball countries is courtesy of PNVF sponsors, the staunchest of which is snacks and biscuit company, Rebisco. “The training is very costly, but it is invaluable,” Tats Suzara said. “That is why we thank Rebisco for supporting our endeavor.” Why is Rebisco going all-out and going the distance to support Philippine volleyball? “We love the sport with a passion,” said Noric Ng, Rebisco Business Unit Head. . “That is why we support it at all levels – from training coaches and referees in the grassroots, to giving young people a chance to get better at the game in high school competitions, to supporting collegiate teams and participating in the professional league. “But the support of our national teams is different. The desire to help our national volleyball program so our athletes can be competitive in international competitions is a sacred duty. We do it for national pride. “Our goal is to help the PNVF grow the sport and make volleyball an expression of the Filipino soul, locally and internationally. Our dream is that one day, we can finish at the podium in a competition of nations,” Ng added. Volleyball fans are in for a dream of a volleyball ride in 2022, aren’t we?