BusinessMirror November 09, 2021

FIRB grants tax perks to Makati subway

By Bernadette D. Nicolas

@BNicolasBM

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HE Fiscal Incentives Review Board (FIRB) granted tax incentives for the rail operations of an P81-billion subway project in Makati City that is expected to begin commercial operations in January 2026.

The set of tax incentives approved last month by the majority of the five-member FIRB chaired by Finance Secretary Carlos G. Dominguez III includes four years of income tax holiday, followed by five years of enhanced deductions and duty exemption on importation for the construction, operation, manage-

ment of the rail project.

However, Dominguez said the approved package of incentives is limited to the activity applied for, particularly rail operations. This means the approved incentives cannot be applied to other business activities that would be generated from the subway operations, such as the lease of retail areas and advertising, which should be subject to the regular corporate income tax rate and other applicable taxes.

Trade Secretary and FIRB co-chair Ramon Lopez said the productivity boost and other benefits offset the economic costs that the government will incur, such as the foregone revenues.

The FIRB considered the projected increase in economic activity of P24.4

billion annually once the subway system becomes operational by 2026.

No figures were disclosed in terms of foregone revenues.

Nonetheless, the FIRB said the projected benefits from the project would be monitored, in line with the principle of granting incentives based on merit or performance embodied in the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law. During the deliberations for the project, Dominguez said the Makati City government and the Department of Transportation should work out the details on how to connect the proposed Makati subway to the national government’s Metro Manila

Subway project.

Funded by loans from Japan International Cooperation Agency, the P375- billion Metro Manila subway is expected to cut travel time between Quezon City and Ninoy Aquino International Airport from 1 hour and 30 minutes to just 35 minutes. As of August this year, the Metro Manila subway project is already 26 percent complete. It is expected to be fully operational by 2027 and partially operational by next year.

In August this year, the FIRB also granted tax incentives to P29.4 billion worth of projects outside Metro Manila, which include a mass housing development and two cement manufacturing plants.

JAN-SEPT FARM OUTPUT SINKS TO 11-YEAR LOW

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PSA revises Q2 growth upward to 12 percent

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE country’s farm output from January to September contracted by 2.5 percent—the steepest decline in 11 years— as livestock and poultry production woes hound overall agricultural performance, negating gains in the crops sector.

During the nine-month period, the value of agricultural production, at constant 2018 prices, declined to P1.263 billion from P1.295 billion recorded in the same period of last year, the Philippine Statistics Authority (PSA) said.

Historical PSA data showed this is the steepest contraction posted by the sector during a January-to-September period since the 3.2-percent decline posted in 2010.

PSA data also showed that production of all subsectors (livestock, poultry and fisheries), except crops, declined from January to September, with the livestock subsector posting a 19.4-percent contraction. Poultry production declined by 1.3 percent while fisheries output fell slightly by 0.5 percent year-on-year, based on PSA data.

The crops subsector, on the other hand, posted a 2.1-percent increase in the value of its production, at constant 2018 prices, according to the PSA. In the third quarter alone, the value of agricultural production plunged by 2.6 percent year-on-year, the lowest growth rate during a July-to-September period in the past seven years or since the 2.9-percent contraction record in the third quarter of 2014. This is now the fourth consecutive quarter that the performance of the farm sector declined.

“This was due to the drop in crops, livestock, and fisheries production. Meanwhile, poultry recorded increment in production,” the PSA said in its report released on Monday.

By Cai U. Ordinario @caiordinario

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RESIDENTS buy their needs at a market along the PNR railway line in Taguig City in this recent photo. The average prices of basic goods and services saw a deceleration in October amid a slower increase in food prices during the month, the Philippine Statistics Authority reported recently. The country’s chief statistician said the rise of global oil prices, which has already affected transportation inflation, will have spillover effects in the coming months. NONIE REYES

‘TOURISM REBOUND MAY BE DELAYED UNTIL 2026’

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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UROMONITOR International, a global market research company, projects tourism recovery in terms of spending will revert to prepandemic levels by 2024 at the earliest, but largely warned that recovery could take longer.

Its latest research, “Travel Rewired: Innovation Strategies for a Resilient Recovery” was presented last week at the World Travel Market 2021 in London. Euromonitor Head of Travel Research, Caroline Bremner, said travel spend decreased worldwide by 75 percent in 2020, as Covid-19 spread in many countries.

She warned, “It will be a long hard recover y. In the worst case, we could be looking at a delay to 2026 in return to pre-crisis spending levels. If

we have new variants that are more resilient to the vaccination program, that will further delay the situation.”

Euromonitor said the pandemic has sped up the pivoting of travel businesses online. As such, online travel sales are project to regain their footing by 2022, hitting almost $500 billion. Data provided showed online travel spend jumped by 5 percent last year and online sales accounted for 54 percent, globally.

The research indicated about 39 percent of the travel industry said they were investing in implementing new technology as a means to future-proof business and 53 percent of travel companies are focusing on sustainability features to guide initiatives and sustainable development goals (SDGs). Drawn up by United Nations member-states, SDGs form a blueprint to global peace and prosperity.

Cautious reopening in AsPac

THE Asia-Pacific region “has the greatest potential for growth, driven by the rise in middleclass households,” according to Euromonitor. But Bremner noted: “In the short-term this reg ion is rea l ly str ug gling to reopen. T he l ac k of g loba l standard as yet is hampering progress in Asia-Pacific.” Many countries, the company said, are erring on the side of conservative caution, resisting reopening to non-essential travel for health reasons.

Also, Bremner said fewer than 4 percent of the population have been vaccinated in emerging and low-income regions. “Once we have a greater flow of vaccines around the world, and a global pass, we will see the situation improve.”

But she was hopeful that “by 2024, we expect Asia-Pacific to

become on track and to have recovered losses.”

Euromonitor, however, noticed a “disconnect” in the adoption of new technology in the region. “Despite the high levels of smartphone adoption by consumers, only 46.73 percent of travel businesses in Asia Pacific offered a mobile app in 2021. By far the most important application is self-service check-in/ mobile key, along with 24-hour customer service.”

It added, “The region demonstrated the highest level of SDG [sustainable development goals] engagement at 59.5 percent, especially with SDG12: Responsible consumption and production. However, products like ‘f lights to nowhere’ and ‘cruises to nowhere’ highlight that there is still a long way to go to achieve truly purposeful travel and tourism.”

Continued on A2

HE better-than-expected growth in Education, Financial Services, and Construction prompted the Philippine Statistics Authority (PSA) to revise the country’s second quarter economic performance.

On Monday, PSA disclosed that second quarter GDP grew 12 percent, 0.2 percentage points higher than the initial estimate of 11.8 percent.

The data showed the Education sector saw the highest upward revision to 12.6 percent from the initial estimate of 10 percent, followed by Construction to 27.1 percent from 25.7 percent and Financial and insurance activities to 5.2 percent from 4.2 percent.

“The revision in Education was due to the revision in Private Education from 15.7 percent to 23.1 percent. This was due to the updates of the Quarterly Survey on Philippine Business and Industry [QSPBI],” Assistant National Statistician Vivian R. Ilarina told the BusinessMirror on Monday.

The changes in the QSPBI, Ilarina explained, pertained to the new responses of private schools which were not included in the preliminary second quarter GDP report for 2021.

“These are the new responses of private schools which did not report during the preliminary Q2 2021 pertaining to revenue, compensation and employment,” Ilarina said.

The revision on the Construction sector, Ilarina said, was mainly due to “newly captured” data on residential constructions.

The data is based on the latest report on building permits of households to local government units (LGUs) which are regularly submitted to the PSA.

NPI downward revision

MEANWHILE, apart from these revisions, PSA said the growth rate in Net Primary Income (NPI) from the Rest of the World recorded a downward revision to -54.4 percent from -53.8 percent.

Continued on A2

PESO EXCHANGE RATES n US 50.4890

See “PSA,” A2

n JAPAN 0.4454 n UK 68.0844 n HK 6.4872 n CHINA 7.8899 n SINGAPORE 37.4103 n AUSTRALIA 37.3215 n EU 58.3703 n SAUDI ARABIA 13.4609

Source: BSP (November 8, 2021)

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BusinessMirror

A2 Tuesday, November 9, 2021

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House TWG to craft new fuel excise tax bill W

By Jovee Marie N. dela Cruz

@joveemarie

ITH its inclusion in Congress's top agenda, the House Committee on Ways and Means on Monday created a technical working group (TWG) to craft a substitute bill reducing fuel excise taxes imposed under the Tax Reform for Acceleration and Inclusion (TRAIN) Law. During the briefing of the com-

mittee, Albay Rep. Joey Sarte Salceda, the panel chairman, said the proposal will completely suspend excise taxes on diesel (from P6/liter) and kerosene (from P5/liter) from December 1, 2021 to June 1, 2022, while reducing excise taxes on gasoline by as much as P3/liter.

“I do not want to commit the next administration to a long-term policy of tax reduction. So, I think this is a happy compromise,” Salceda said.

In the same House hearing, meanwhile, Finance Director Euvimil Nina R. Asuncion said Salceda’s proposal

under House Bill 10438 will result in foregone revenues of P37.5 billion.

However, Salceda said, such can be offset in part by increases in VAT collection due to higher prices.

Also, Asuncion estimated that Salceda’s proposal could increase disposable incomes by 0.22 to 0.48 percent, increase consumption by around 0.2 percent, and reduce inflation by around 0.14 percent.

But Asuncion said the provision under the TR AIN law cannot be invoked anymore as this has already lapsed and only covered excise tax increases from 2018 to 2020.

Farm output…

The PSA said crop production, which contributed 54.0 percent to the total agriculture and fisheries production, contracted by 0.2 percent while livestock, which accounted for 15.3 percent of total output, declined by 15.2 percent.

“Palay production increased by 6.7 percent while corn production declined by -18.6 percent,” it said.

Continued from A1

“Hog, the major contributor for livestock production, decreased by -17.8 percent,” it added.

The PSA said poultry output grew by 13 percent while fisheries production declined slightly by 0.4 percent in the third quarter.

Covid, typhoons IN the view of Philippine Cham-

The DOF official also reiterated the agency's objection to the proposed suspension or reduction of excise tax, saying it would be detrimental to the country’s economic recovery and long-term growth.

Earlier, economic managers announced the rollout of a P1-billion fuel subsidy for the transportation sector to cushion the impact of increasing oil prices. Government aims to subsidize around 178,000 public transport drivers.

However, lawmakers and transportation groups said the P1-billion fuel subsidy for public utility vehicles is not enough to addres the impact of soaring oil prices.

Meanwhile, Salceda directed the TWG to differentiate rates between premium and unleaded gasoline, given the use of unleaded gasoline by the public transport sector.

He also directed the TWG to mandate the DOF and Department of Energy to monitor prices and exercise motu propio powers to investigate abnormal price activity, revert to TR AIN tax rates should crude oil prices reach below USD

ber of Agriculture and Food Inc. (PCAFI) President Danilo V. Fausto, the contraction in agriculture output was primarily cased by the challenges from the Covid-19 pandemic such as disrupted supply chains and low purchasing power of Filipinos.

The situation, Fausto pointed out, was worsened by recent typhoons in the third quarter that battered the northern part of Luzon, where abundant crops, including corn, are located. These contracted 18.6 percent during the period.

60/barrel during the suspension period, provide the DBCC the power to reduce excise tax rates when certain thresholds are breached.

Salceda also directed the TWG to create the Social Impact Stabilization Fund, which will be used and appropriated as ayuda for the lower 80% of households by income, when prices increase. This will be funded by imposing a P2/liter on petroleum products when the prices decline below the 30-year average of prices.

Members of the TWG include House Committee on Economic Affairs Chairperson Sharon Garin, Baguio Rep. Mark Go, and Marikina Rep. Stella Luz Quimbo.

Improve price monitoring

Salceda also asked the DOF to improve its anti-smuggling efforts.

“During periods of high prices, the incentive to smuggle also increases.

That is why I would like the Bureau of Customs and the DOF to update me on its fuel enforcement measures.

Earlier this year, we agreed that we will create a Task Force Paihi to combat fuel smuggling in our ports. I

“The Department of Agriculture’s target of 2 percent full-year growth this year is wishful thinking.

I think full-year agriculture output would decline by 1 percent to 2 percent,” he told the BusinessMirror.

“We expect better crop harvest in the fourth quarter coupled by an anticipated pick-up in consumer demand as quarantine restrictions eased,” he added.

Not isolated

FORMER Agriculture Secretary Emmanuel F. Pinol said the contraction in the country’s farm output is not an isolated case, pointing out that other countries, even the United States, experienced a decline in food production.

“The contraction in agricultural

Tourism…

would like updates on that,” he said.

“Perhaps foregone revenues could be recovered to cushion the revenue impact of this proposal,” he added.

“I also ask the DOE to provide me a disaggregation of the components of pump price. That way, we can determine what other interventions will lower prices,” he added.

Immediate approval

FOR his part, Deputy Speaker Rufus Rodriguez urged the lower chamber to pass the bill suspending excise tax increases on oil products this week.

“The Speaker wants the proposed tax reduction approved immediately or as soon as possible. So let’s do it before the week is over, on the first week of our resumption of session,” said Rodriguez one of the principal authors of the bill.

According to Salceda, his committee members will meet again on Thursday to discuss the fuel excise tax-related bills and formally discuss and approve the substitute bill.

“We could not approve today [Monday] because the bills have not yet been formally referred. But, the Committee on Rules lead by our

output is not confined to the Philippines. It is a worldwide phenomenon right now as a result of the Covid-19 pandemic,” Pinol, a senatorial in next year’s elections, said in a virtual forum hosted by Kamuning Bakery.

“The disruptions in the supply chain really affected food production, hence, we have to improve our logistics to improve movement of goods,” he added.

Pinol also noted that the low consumer demand for food was also a factor in the drop in overall agricultural output since farmers do not have an assured market. “Even the lakatan banana farmers in Mindanao that are selling in Metro Manila are complaining of low prices. There is no demand, there are no students even,” he said.

Continued from A1

Misaligned goals, investments in sustainability

A NOTHER disconnect in the region that Euromonitor noticed is that close to 65 percent of its consumers want to have a positive impact on the environment in their daily lives. However, “only 29 percent of travel businesses are investing in developing new sustainable products and services to help them achieve this goal.”

Among the major obstacles in the “Great Restart” of global travel and tourism is the “lack of interoperability between the various health systems” and the absence of a global uniform standard to which countries can subscribe, according to Euromonitor.

In the Philippines, for instance, tour ism leaders have complained of the numerous travel apps, portals, and forms travelers have to log on to or fill up just to be able to visit leisure destinations. Its official vacci-

nation certificate for individuals has yet to be accepted in many countries.

Euromonitor found last year, 41.3 percent of travel companies around the world provided a mobile app/website, but this declined to 37.1 percent in 2021, marking a major disconnect between consumers and brands.

“This strategy needs reconsidering, especially when 26.8 percent of all travel sales are expected to be booked via mobile, amounting to $774 billion by 2026.”

In a recent travel and tech forum hosted by the Tourism Promotions Board, tourism stakeholders underscored the importance of the “human touch” and “face-toface” interactions in reopening the industry, instead of relying on digital solutions. (See, “At travel and tech forum, need for ‘human touch’ underscored, in the BusinessMirror, October 11, 2021.)

Majority Leader, is committed to meeting about the bills and referring them to us before Thursday,” Salceda said.

Moreover, Rodriguez said cutting the oil levy “will bring immediate relief to our people, who are reeling from the double whammy of the raging pandemic and rising pump prices of gasoline, diesel, cooking gas, and other petroleum products.”

“Enacting the bill will cut the tax and pump prices by at least P3 per liter and P33 per 11-kilogram cylinder of liquefied petroleum gas. It will have a domino effect on the prices of consumer goods and services,” Rodriguez said.

“Alternatively, to hasten the approval process, we could just take cognizance of the broad clamor from the public for relief from soaring fuel prices and the opposition of the Department of Finance to our proposal.

They will simply repeat what these sectors have been saying if we call them to a hearing,” he said.

In his bill, Rodriguez calls for an across-the-board suspension of excise tax adjustments under the TRAIN Law, and not just on certain oil products.

Rising Covid cases in EU, China spur IATF review

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HE government is now reviewing the classification of China and other European nations with rising cases of Covid-19 to prevent the entry of additional infections in the country.

Vaccine Czar Carlito Galvez Jr. said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) will be looking into the Covid data in these countries in its next meeting.

“We will look into the categorization of different countries. This is very dynamic and volatile. We will see what will happen in the next IATF resolution,” Galvez said.

Under IATF protocols, countries are classified into red, yellow, and green categories depending on the risk level of each country in terms of its Covid-19 cases.

Green-listed countries are those with the least risk and fully vaccinated travelers coming from the said areas enjoy shorter stay in quarantine facilities.

Yellow-listed countries are those with moderate risk, while red-listed countries are those with the highest risk.

Travelers from red-listed nations are banned from entering the country.

Currently, China is still listed among the green countries, while most European countries are under yellow classification.

This, amid the recent reported outbreak of Covid-19 cases in China and 53 countries in Europe, which the World Health Organization (WHO) said is once again the “at the epicenter” of the Covid-19 pandemic.

Presidential spokesperson Harry Roque explained IATF usually comes out with an updated classification every two weeks.

IATF last issued an updated classification for countries, which is supposed to take effect from Nov. 1 to 15, 2021. Samuel P. Medenilla

PSA…

Continued from 2

This, however, did not dampen the growth of Gross National Income (GNI) in the second quarter of 2021, which saw its growth revised upward to 6.8 percent from the initial 6.6-percent estimate.

GDP estimates are revised by the PSA based on an approved revision policy which is consistent with international standard practices on national accounts revisions.

The PSA will be releasing the preliminary third quarter GDP estimates on Tuesday at 10 a.m.

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Metro mayors settle to limit face shield use in ‘high-risk’ places

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ETRO Manila mayors will recommend to the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF) the lifting of the mandatory wearing of face shields except in “high-risk” places, the Metropolitan Manila Development Authority (MMDA) said on Monday.

Health Undersecretary Maria Rosario Vergeire, for her part, said that health experts together with the Department of Health (DOH) would meet on Monday afternoon and update the current review of evidence for the use of face shield in the pandemic response.

This developed even as Manila Mayor and presidential aspirant Mayor Francisco “Isko Moreno” Domagoso on Monday declared the “non-mandatory” wearing of face shields in the City of Manila except in hospitals, medical clinics and other medical facilities.

“So we have committed to the IATF that by Thursday [November 11] we will be presenting to them an updated recommendation for the use of face shields,” Vergeire said in an online forum.

MMDA Chairman Benjamin “Benhur” Abalos Jr. said that people could do away with face shields, except in areas such as hospitals, health centers, and public-utility vehicles.

“We will recommend the scrapping of mandatory wearing of face shields to the IATF, especially since the majority of the eligible population in Metro Manila are

already fully vaccinated and the average daily attack rate as well as the number of Covid-19 cases are going down,” he said.

Abalos said that they would forward their official position to the IATF who will have the final say.

He also said that if given the green light, face shields would no longer be required in malls.

Since December 2020, the IATF has been implementing mandatory use of face shields in all public spaces to curb the transmission of Covid-19.

But in September, President Duterte ordered the removal of face shield use except for closed, crowded, and close contact areas.

Abalos also said that the Metro Manila mayors have agreed to require vaccination among exhibitors and sellers at tiangge and popup night markets for the safety of the public.

“Since tiangges are seasonal and often last for only two months and sellers come from different areas, it is only proper to require them to be vaccinated,” he said.

In issuing Executive Order 42, Domagoso noted that as of November 4, the IATF has already “deescalated” the alert status in Metro Manila to Level 2.

Alert Level 2 refers to areas wherein case transmission is low and decreasing, health-care utilization is low, or case counts are low or decreasing but total bed utilization rate and intensive care unit utilization rate is increasing. Claudeth Mocon-Ciriaco

Editor: Vittorio V. Vitug • Tuesday, November 9, 2021 A3

US allows entry of vaxxed Pinoy tourists, travelers

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By Malou Talosig-Bartolome

IGHTEEN months after the outbreak of Covid-19, the United States opened its borders on Monday to all international travelers as long as they are fully vaccinated.

This is good news to many Filipinos who were initially hesitant to get their jabs, thinking that they would not be allowed to travel to the US with non-US made vaccines such as China’s Sinovac or Sinopharm or UK’s AstraZeneca.

However, those jabbed with Russia’s Gamaleya Sputnik V won’t be allowed entry into the US just yet.

The Philippine consulates in San Francisco, Los Angeles and New York have also advised Filipinos and Filipino-Americans that starting Monday US, theaters, dine-in restaurants, indoor businesses in their cities are also requiring proof of vaccination before they will be allowed entry into their premises.

The US had earlier closed its

borders from specific countries like Brazil, China, India, Iran, South Africa, the United Kingdom and Europe’s Schengen areas to contain the spread of Covid-19. Land borders with Canada and Mexico were also closed.

Those travel restrictions have been lifted and instead limited the entry of travelers who have already got at least single-dose or double-dosed Covid-19 vaccines approved by the World Health Organization (WHO). Gone are the days for other Filipinos who are brand-hesitant and would travel to the US just to get their US-made jabs Pfizer-BioNTech, Moderna or Janssen.

Since Gamaleya Sputnik V has

not been approved by WHO, the Center for Disease Control and Prevention (CDC) has not allowed yet those who received the Russian vaccine to enter the US. An estimated 650,000 Filipinos have received or will soon receive Gamaleya Sputnik V, based on published data that a total of 1.3 million doses have been delivered to the Philippines as of October 2021.

Flag-carrier Philippine Airlines, which flies 35 flights per week to and from the US cities and territories, welcomed this development.

“Passenger loads to and from the US are building up,” Cielo Villaluna, spokesman of PAL told the BusinessMirror.

She said the accepted proof of vaccination that PAL would accept from Filipino travelers who got their vaccines from the Philippines are yellow cards issued by the Bureau of Quarantine or certificate from Vax Cert Philippines. Children under 18 years of age would not be required to be fully vaccinated.

Filipino travelers who were vaccinated in other countries may show digital or paper vaccination certificate verifiable with QR code or a digital pass via Smartphone application with QR code.

If the proof of vaccination is a“non-verifiable” paper record, it has to be issued at the national or subnational level or by an authorized vaccine provider.

“Non-verifiable” digital record must be in the form of digital photos of vaccination card or downloaded vaccine record from official source like public health agency, government agency of the particular country where they got their jabs.

US citizens, immigrants and permanent residents in the US are no longer required to present proof of vaccination.

Filipino seafarers or airline crew who were not vaccinated and are only transiting the US to board the ship or another airline (under C1/D non-immigrant visa) will also not be required to be fully vaccinated.

The US CDC said diplomats or those on official government travel and persons with documented medical contraindications to receiving a Covid-19 vaccine, or who needs to travel for “humanitarian” or “emergency” reasons will also be exempted.

Those who were given exemptions must undergo test 3 to 5 days after arrival in the US, and undergo at least seven days quarantine.

A4 Tuesday, November 9, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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Rice imports from Jan to Oct rise by 16.24% to 2.242 MMT

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE country’s rice imports from January to October expanded by 16.24 percent year-on-year to 2.242 million metric tons (MMT), already surpassing its total volume of imported staple for

the entirety of 2020, latest government data showed.

Latest Bureau of Plant Industry (BPI) data showed that the country’s rice imports during the 10-month period grew by 313,334.883 metric tons (MT) from the 1.929 MMT it imported during the same period of last year.

Furthermore, BPI data showed that the volume of rice imported from January to October already exceeded by 6.8 percent the 2.099 MMT of rice imported for the entirety of last year.

BPI data also showed that total rice imports from January to November 4 has reached 2.290 MMT with eligible

importers and traders using 2,722 sanitary and phytosanitary import clearances (SPS-ICs).

Nan Stu Agri Traders topped the list of 145 rice importers during the reference period as it imported 128,668 MT of the staple grain as of November 4, based on BPI data.

It was followed by Lucky Buy and Sell that imported 110,152 MT of rice.

BPI data also showed that from January to October the agency has issued some 5,484 SPS-ICs to import 4.876 MMT of rice for the year.

Vietnam remained the country’s top source of imported rice as it accounted for 1.959 MMT of the 2.290 MMT total volume as of November 4. It was followed by Myanmar and Thailand with import volume of 158,268.9 MT and 114,515 MT, respectively, based on BPI data.

The United States Department of Agri-

culture (USDA) earlier projected that the Philippines may import more rice this year as local traders are expected to increase their purchases from Vietnam.

The USDA has also projected that Bangladesh will overtake the Philippines as the world’s second-largest buyer of rice this year.

Last month, the USDA revised upward its rice import forecast for the Philippines this year by 200,000 MT to 2.3 MMT from its previous estimate of 2.1 MMT. The USDA hiked its import forecast due to the “strong pace and large purchases from Vietnam” by Philippine rice traders and importers.

Despite the projected increase in the country’s rice purchases this year, the estimate is still 145,000 MT lower than the 2.45 MMT the Philippines imported last year, USDA data showed.

Technology trends for 2022

factors that are making it difficult to turn data into actionable insights.

Leaders who are able to execute data fabrics—flexible, resilient integrations of data across platforms and business users—can accelerate time to value and cut data management efforts substantially.

Decision intelligence

By Henry J. Schumacher

W

HAT was our premise for 2020?

Survival.

What was the directive for all of us in 2021? Get back on track.

What will be our vision for 2022? Sustainable profits and expansion.

The way back toward sustainable profits and expansion starts with technology investments as chief information officers (CIO) are expected to create robust and resilient IT organizations.

A solid digital strategy will let businesses compete, protect their IT assets and maximize profit. And it’s in the CIO’s to-do list to shape and enhance the IT backbones.

In Gartner’s Top Strategic Trends for 2022, the overarching themes are engineering trust, sculpting change and accelerating growth. There is no question that we will all agree with that.

But here comes the hard part: what are CIOs expected to deliver for their companies? Designing and maintaining a robust and scalable IT organization, one that can support the company growth strategy but can quickly respond if business conditions change once again.

In last year’s roundup of priority trends, the focus was on pragmatic, responsive execution. In 2022, companies must connect their technology implementation to economic growth and market opportunity.

Here are some of Gartner’s top strategic technology trends for 2022:

Automation

THE automation strategy seeks to rapidly identify, vet and automate as many processes as possible. The best companies will need to focus on a trio of top priorities: improving the quality of work, speeding up business processes, and enhancing the agility of decision-making.

Generative AI

THOUGH businesses have discussed generative artificial intelligence (AI) for years, we have seen an acceleration in the past 12 months. Generative AI is expected to generate synthetic data to train models or identify valuable products.

Almost immediately after an AI model is put in place, its value begins to drift as data inputs, real world conditions and the economic environment changes.

Data fabric

EVEN the most data-rich companies struggle with data security, compliance and governance restrictions, among other

LEADERS stand to gain from data-driven decisions, but many companies still lack structure around decision-making.

Data management will definitely be part of this process. Training employees at all levels in the organization is essential. The European Information Technology Service Center is deeply involved in this process. This approach can outpace competitors in terms of new technology implementation. At the same time, it can help companies to respond to change fast.

Cloud-native platforms

CLOUD-NATIVE platforms use the core capabilities of cloud computing to provide scalable and elastic IT-related capabilities “as a service.” While these platforms are expected to serve as the foundation for nearly all new digital initiatives, we have to keep cybercrime in mind and do everything possible to secure our data.

Privacy-enhancing computation

WITH consumer awareness of privacy on the rise, companies are wary of the loyalty impacts of data breaches or other privacyrelated incidents. Privacy enhancing techniques can protect personal and sensitive information, letting businesses protect confidentiality while sharing, pooling or analyzing data.

Cyber-security mesh

CYBER-SECURITY mesh architecture (CSMA) is an integrated approach to securing all enterprise IT assets regardless of location. On average, companies adopting CSMA will be able to substantially reduce the financial impact of individual security incidents.

Distributed enterprise

MAJOR technology changes will respond to the ongoing adjustments to operating models, as most companies continue to adjust their hybrid work models.

Total experience

TOTAL experience is the value of combined customer, employee and user experiences and has the potential of improving business outcomes. But companies must break each of these silos, and understand the upside to improving every stakeholder’s experience.

Business ethics

AS we are all thinking of strategies into the future, looking at disruptive innovation or creative disruption, I would like to remind everybody that building and maintaining an ethical business culture must be part of the 2022 agenda. Business leaders must be aware that being caught in corruption, unfair competition, data breaches, cybercrime etc., will not only lead to heavy fines but will definitely affect the reputation of the company.

Feedback is welcome; please e-mail me at hjschumacher59@gmail.com

News BusinessMirror

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Oil firms to roll back gas, diesel, kerosene pump prices today

By Lenie Lectura

@llectura

A

FTER 10 consecutive weeks of price hikes in gasoline products and nine straight weeks of similar price adjustment for diesel and kerosene, oil firms announced a price rollback this week to give reprieve to consumers battered by high pump prices.

A P1 per liter rollback for gasoline, P0.60 per liter cut in diesel price and a reduction of P0.65 per liter in kerosene prices take effect on Tuesday morning.

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

Oil firms adjust their prices weekly to reflect movement in the international oil market.

According to the Department of Energy (DOE), the recent developments showed demand resulting shift to lower oil prices.

These include the decision of the Opec + 4 to stick to its decision of planned 400,000 barrels per day increase for December output, stoked by the recent developments showing weakened demand resulting shift to lower oil prices; weaker economic data from China and Beijing’s announcement to release state oil product reserves to ease the market tightness along with rising coronavirus cases in China further weighed on crude market; recent power crisis in China and India due to insufficient coal supply and Europe for high prices of natural gas resulted to weaker manufacturing sector, which resulted in weakened overall economic activity for the month of October; and surging Covid cases in China and Europe resulting to reintroductions of lockdowns.

DOE-Oil Industry Management Bureau (OIMB) Director Rino Abad said Monday if the power crisis in China and India, as well as the surge in Covid cases in China and Europe would prevail, the decline in pump prices might continue.

However, he warned that once the situation in the international scene improves then demand is expected to increase, thus affecting prices to go up.

“China and India are producing more coal [while the] whole Europe is demanding more natural gas supply from Russia. It is just a matter of time that the power crisis will be resolved and then we will go back again to an improving economy and thus the demand for oil will increase,” Abad explained.

At the same time, however, an increase in Opec’s supply output is seen to stabilize the insufficient supply, with continued increase up to the first quarter of next year.

Abad said this would help soften local pump prices.

“Please note that there would probably a balance in demand and supply by end of the year up to first quarter of 2022. In this case, there is a tendency that prices will start to stabilize,” he said.

Last November 2, gasoline increased by P1.15 per liter, while diesel and kerosene prices have decreased by P0.35 and P0.30 per liter, respectively.

Contagion hikes online shopping to ‘essential’ status–Meltwater

O

By Cai U. Ordinario

@caiordinario

NLINE shopping no longer remains an option for Southeast Asian (SEA) consumers but an essential part of life, according to media intelligence firm Meltwater.

In its latest report, Meltwater said online shopping is already part of the “natural way of life” in SEA as shoppers flock to online platforms for all or most of their purchases during the pandemic.

Based on their study, online conversations around e-commerce in Southeast Asia have already

crossed the 1-million mark in 2021—and the year’s not even over yet.

“Online shopping has become a natural way of life for Southeast Asian consumers now, but fatigue from the pandemic is causing them to seek out more engagement and novelty in their purchase journey,”

Mimrah Mahmood, senior director & partner at Meltwater Asia Pacific, said.

“This presents both an opportunity and a challenge for retailers— and the key to success is to stay ahead of these trends to continue engaging and attracting shoppers,” he added.

Conversations with sellers and livestreaming of the sale of goods are also enhancing the online shopping experience in SEA. Meltwater said that conversations around livestreaming jumped 213 percent this year. Shopee’s data supported this finding and reported a 2.5 times increase in annual livestream viewership on its platform.

Further, Shopee reported a 60percent year-on-year growth in the number of their active sellers

C

@Villygc

ONGLOMERATE San Miguel Corp. (SMC) on Monday said its river cleanup initiatives at the Pasig and Tullahan Rivers, both major tributaries crucial to the rehabilitation of Manila Bay, have exceeded initial targets.

SMC President Ramon S. Ang said the company would aim to increase the daily extraction output

on the platform since the start of the pandemic.

Many of Asean consumers also flocked to online platforms for mega sales to take advantage of discounts.

The Single’s Day and 9.9 sales were among the most popular events with over half a million online conversations on the topic.

“The Covid-19 pandemic sped up SEA’s embrace of e-commerce in surprising—and permanent ways,” Meltwater said in a news statement issued on Monday.

The report stated that in SEA, the growth of the digital economy has contributed to the addition of 70 million new online shoppers since the start of the pandemic.

On social media, conversations around e-commerce have already crossed the 1-million mark in 2021— and the year’s not over yet.

Citing Adobe, Meltwater said g loba l e - com merce sa les a re expected to reach $4.2 trillion this year, but competition is heating up.

“What this means is that even though the e-commerce opportunity is apparent in the region, retailers need to work harder than ever to win consumers’ attention and share of wallet,” the report stated.

The findings were included in a new guidebook from Meltwater titled “Unlocking E-Commerce Success in Southeast Asia.”

The data in the guidebook was based on the study of online conversations across the region to identify emerging trends and opportunities in the e-commerce landscape in the lead up to the upcoming holiday shopping season.

BI readies for reopening of PHL borders to tourists and travelers

By Joel R. San Juan @jrsanjuan1573

T

HE Bureau of Immigration (BI) is gearing up for the possible reopening of the country’s borders to foreign tourists amid the continuing drop in the number of Covid-19 cases that led to easing of some pandemic restrictions around the country.

BI Commissioner Jaime Morente said that while the agency’s manpower needs to be beefed up in preparation for the entry of more

foreign travelers, it has already put in place a response plan to address such a situation.

“Our frontline officers at the airports are ready and prepared, and we assure the traveling public of uninterrupted service should they decide to travel to the Philippines,” Morente said.

Part of the response plan, according to BI acting port operations chief, lawyer Carlos Capulong, is the mobilization of BI personnel assigned to the other operating units of his division to perform primary inspection

and supervisory duties during times of heavy influx of passengers.

The set up would likely be implemented until the Department of Justice (DOJ) completes the hiring of around 195 new immigration officers who will be deployed in regional ports.

The BI is one of the agencies attached to the justice department.

The BI’s announced its readiness to handle the influx of foreign tourists following the statement issued

by Presidential spokesman Harry Roque that the Philippines will reopen

to international tourists in due time.

Roque said that while Metro Manila’s shift to Alert Level 2 from Alert 3 is very encouraging, the government would first have to observe the experience of other countries that have already reopened to foreign tourists.

“Should the IATF [Inter-Agency Task Force for the Management of Emerging Infectious Diseases] and the Office of the President see that the country is ready, we will be happy to welcome again foreign tourists to our shores,” Morente said.

BI earlier reported that the num-

Health-care workers air plaint to senatorial candidate Balita

T

HE acute manpower shortage from the stepped-up recruitment by richer countries of Filipino health-care workers is being compounded by the utter neglect of the rest of the medical frontliners who remain underpaid, overworked, and uncovered by government interventions in the pandemic, senatorial candidate Dr. Carl E. Balita said in an online forum with them.

Balita, a registered nurse and midwife, heard the complaints of, among others, nursing attendants, barangay health workers and even private company nurses who are daily exposed to Covid-19 but are under the radar of policy-makers and health authorities, often forced to pay for their treatment and confinement when they get infected.

As Balita listened to the country’s unsung and underpaid heroes, nurse Amalia Erum gave a brief account of the sad reality that happens in the Covid-19 battlefield, especially in the coverage of the special risk allowance (SRA), which Congress mandated under the Bayanihan laws for medical frontliners.

“The SRA release is a mess. If you’re not on duty in the ER, triage, or Covid ward, and you’re not an encoder or OPD nurse, you don’t have SRA. But how about the patients who get admitted in the non-Covid ward, then test positive, and afterwards gets transferred to the Covid ward. This isn’t counted but the nurses there who were not included for SRA are still very much ex-

posed,” Erum said, partly in Filipino, by way of explaining how authorities have overlooked the complications of the frontline situation.

Per Administrative Order 36 (AO 36), the SRA is given to public and private health-workers assigned in designated Covid-19 units in hospitals or are in direct contact with Covid-19 patients. Lawmakers, including Blue Ribbon Chairman Sen. Richard J. Gordon, have recently been pushing for the coverage of all hospital workers, on the premise that all of them are vulnerable to Covid infection.

In the forum with Balita, several other nurses aired similar grievances:

“This is so real! SRA release is unfair!” wrote Charlyn Brigitte Juan in all capital letters. “‘Thank you’ is all they can say. If you contract Covid-19 because of handling patients, they’ll even think you didn’t get it from the hospital,” commented another worker, Ghie Anne.

Besides the seemingly unfair release of SRA, nurses also revealed how difficult the processing can be for those who are already qualified to receive it, and even those who already contracted Covid-19 while on duty.

“If you’re not in the Covid ward, you’d have to justify. If you contracted Covid, they still ask for an explanation before you receive your hazard pay. You’re already haggard but still not receiving anything,” said Kate Quiambao Hernandez.

Earlier, an ambulance driver inter-

viewed by the BusinessMirror revealed that they, too, are not covered by the special allowances given during the pandemic, despite their long exposure to infected patients.

“Please include us barangay health workers,” Fiona Jean Lopez Lorenzo pleaded with Balita. “It’s very depressing, the exhaustion and difficulty we put up with ever since the Covid-19 pandemic started. We go on duty in the frontlines, in Covid-19 facilities.

We even monitor those who are quarantined at home but it’s as if we are not seen by the authorities. We don’t receive much from our honoraria, it’s not even enough to support our families. We’re not even provided PPEs [personal protective equipment].”

Others shared the plight of private company nurses and nursing attendants.

“Private company nurses who are handling almost 800 employees and more and are also in close contact with positive cases have not received SRA and Hazard Pay since day one of the pandemic. They also render 12-16 hours of duty and are also pleading for additional compensation,” said Yrys Ramos Daiz.

“Sir Carl, hoping that you can also notice the salary of nursing attendants.

Most of them are under boards for nursing and midwifery. Their workload is also immense. I came from there and I can attest to the exhaustion and volume of workload during duty hours,” commented Olga Enrile Ariola Shanthos.

SMC: Pasig, Tullahan River cleanup drive exceed goals

By VG Cabuag

Tuesday, November 9, 2021 A5

from the two rivers in anticipation of potential monsoon rains that usually cause heavy floods in Metro Manila cities near the 27-kilometer (km) Pasig River, and the cities of Navotas, Malabon, Valenzuela, and Caloocan alongside the 27-km Tullahan River.

Both rivers empty out to the Manila Bay and were included in the list of the world’s top 10 rivers that pollute the oceans with plastic waste, according

to a report by research web site Ourworldindata.org early this year.

The rivers also receive untreated sewage from households and nearby industries.

Pasig and Tullahan Rivers also suffer from heavy siltation limiting their capacity to receive floodwaters.

“We are proud of our crews’ dedication in getting the rivers cleaned, deepened, and widened prior to the rainy season. This has led to

noticeable changes in flooding patterns, with no severe flooding incidents reported particularly in areas near Tullahan River, the past few months,”Ang said.

With the Pasig river’s waste and silt extraction output at 90,000 metric tons (MT) as of November 5, SMC expects to hit the 100,000-MT mark by the middle of November, as daily output has been increased from 1,400 to 1,700 MT per day.

ber of passengers who arrived in the country during the first three quarters of the year dropped by 72 percent due to the impact of the Covid-19 pandemic on the international travel industry.

It noted that a total of 893,886 international travelers arrived during the first nine months of the year as compared to the 3.2 million recorded in 2020.

The BI chief said the agency is expecting the low turnout of arriving passengers would continue at least until the end of 2021.

BusinessMirror

A6 Tuesday, November 9, 2021

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4, Near Kay Buboy Bridge, San Dionisio, City Of Parañaque

PAN, DAILIN Marketing Specialist 1.

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

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

9.

YUAN, WENJIE Marketing Specialist 2.

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

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

10.

3.

LI, HUI Customer Service Representative (Chinese Accounts) Brief Job Description: Assists clients will all their concerns

Salary Range: Php 30,000 - Php 59,999 8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque

HONG, DONGHUAN Customer Service Representative Mandarin Speaking 4.

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

Basic Qualification: Know 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

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

AYIAGNIGNI POUTOUOCHI, ABDOULADIF Transaction Processing Analyst

5.

Brief Job Description: Perform data entry and researching various systems and tracking toold apply knowledge of processes and related systems to assist in identifying assessing and resolving issues problems assess and resolve non-standard and standard issues or problems seek advice and escalate issues when faced with tasks problems

Basic Qualification: College graduate BPO employment experience service deliver team management, risk identification / mitigation health industry background voice experience Salary Range: Php 30,000 - Php 59,999

11.

6.

Basic Qualification: Education and experiences

Brief Job Description: Specialist in operations

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

GALIH PRATI WANGGONO Bahasa Indonesian Language-supervisor Customer Service Brief Job Description: initiate conversation to uncover customer needs

12.

13.

WEI, JINGJING Mandarin Language-supervisor Customer Service Brief Job Description: initiate conversation to uncover customer needs

SILLAPAYA, JUTHATHIP Thai Language-officer Customer Service Brief Job Description: initiate conversation to uncover customer needs

SAHNEY, DHRUV Treasurer And VP - Sales & Operations, Philippines 14.

Brief Job Description: Responsible for overall management and profitability of all business in country, including full P&L responsibility

15.

CHEN, XIYONG Chinese Administrative Technician Brief Job Description: Performs variety of complex para professional duties

CHENG, TING Customer Support Representative 16.

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

LI, CAIHONG Customer Support Representative 17.

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

7.

Brief Job Description: Plan, organize and execute marketing and sales programs

8.

Brief Job Description: Responsible for smooth operations of ww vendor payables operations at amazon philippines, which includes vendor queries related to payment, vendor master setup for non-inventory and other proactive vendor payables activities.

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

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

LEE, KUAN-JU Manager 1, Finance

18.

SUI, JUNHUI Customer Support Representative 19.

Basic Qualification: Proficiency in Mandarin language Salary Range: Php 60,000 - Php 89,999

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

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

LUO, XUEFANG Freight Coordinator 20.

Brief Job Description: Processes orders and oversees cycle of order fulfilment.

EASTERN GOLD CORPORATION 503, Nueva St, , Binondo, City Of Manila

No.

Basic Qualification: degree holder, must fluently speak and write in Indonesian to cater foreign market Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LI, YINGYING Marketing And Sales Agent 21.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: degree holder, must fluently speak and write in Bahasa to cater foreign markets

LI, ZHE Marketing And Sales Agent 22.

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

YIN, WEI Marketing And Sales Agent 23.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: degree holder, must fluently speak and write in Thai language to cater foreign market

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

TSENG, CHI-CHIH a.k.a. TSENG, MILO Country Manager 24.

Brief Job Description: Oversees operation of Delta’s business in the Philippines

25.

ZHAI, CANMING Customer Service Representative Brief Job Description: Customer service representative

26.

ZHOU, YUTING Customer Service Representative Brief Job Description: Customer service representative

LIU, YANXUN Accounts Payable Deputy Manager 27.

Brief Job Description: Manages and supervises the accounts payable department and staff organization

CHAN YONG TAUR Senior Asset Data Officer 28.

Brief Job Description: Responsible for recording information, processing company and group asset accounts

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

Basic Qualification: Job-relevant degree/ 5-10 yrs supervisory/ managerial experience in logistics or operations/multilingual Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Job-relevant degree/5-10 yrs. Supervisory/ managerial experience in logistics or operations/ multilingual Salary Range: Php 60,000 - Php 89,999

GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center, Julia Vargas Ave., Ortigas Center, San Antonio, City Of Pasig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in MANDARIN and with at least 6 months experience in logistics industry.

Basic Qualification: High school graduate in Chinese curriculum.

Can speak and write fluent Chinese Mandarin.

Can operate computer Mandarin characters

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 9th Flr. Arthaland Century Pacific Tower, 5th Avenue 30th Street Cor. 4th Avenue, Fort Bonifacio, City Of Taguig

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

Basic Qualification: High school graduate in Chinese curriculum.

Can speak and write fluent Chinese Mandarin.

Can operate computer Mandarin characters

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

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

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

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

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

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

Basic Qualification: Graduate of MA in Economics, can converse using English, Chinese and Dutch language

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower, Moa Coral Way, Brgy. 076, Pasay City

Basic Qualification: 20 Vacancy fluent in Mandarin Speaking

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

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

ELTEK POWER INCORPORATED 302 Orient Square, F. Ortigas Jr. Road, San Antonio, City Of Pasig

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

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

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

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

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

Basic Qualification: Bachelor’s Degree in Business, accounting or related field

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

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

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: degree holder, must fluently speak and write in Mandarin language to cater foreign markets

QUALIFICATION AND SALARY RANGE

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

Basic Qualification: degree holder, must fluently speak and write in indonesian to cater foreign market

COCOPIG DIGITAL TECHNOLOGY INC. Unit F 20/f Marajo Tower, 26th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

MU, JIE Customer Support Representative Basic Qualification: Proficient in speaking, reading and writing in mandarin

QUALIFICATION AND SALARY RANGE

CENTURY PEAK CEMENT MANUFACTURING CORP. U-1403/140 14f Equitable Bank Tower, 8751 Paseo De Roxas, Bel-air, City Of Makati

ALLIANTPRIME SERVICES INC. Unit No. Unit 2c Flr. No. 4f, One Ecom Center Building, Ocean Drive St., Moa Complex Subd., District 1, Barangay 076, Pasay City

PENG, YUE Mandarin Field Marketing Officer

ESTABLISHMENT / ADDRESS

BLACK-BOX NETWORK SERVICES PHILIPPINES INC. Unit 1404 14/f Medical Plaza Makati, Amorsolo Cor. Dela Rosa Sts., San Lorenzo, City Of Makati

ACSTREAM MANAGEMENT INC. 2204b/2206, 22/f Pbcom Tower, Ayala Avenue, Bel-air, City Of Makati LUI, WEN-HUI Mandarin Speaking Operations Specialist

EVERSON HAROLD TOGAS Bahasa Indonesian Language-officer Customer Service Brief Job Description: initiate conversation to uncover customer needs

24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr., 81 Newport Bl Newport City, Brgy. 183, Pasay City Basic Qualification: *Any nationality who can speak and write Chinese fluently. *Preferably 6 months to 1 year customer service experience. *Detail-oriented and has the ability to multi-task

EVERLY ANGEL Bahasa Indonesian Language-officer Customer Service Brief Job Description: initiate conversation to uncover customer needs

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

MA, HANXIONG Customer Service Representative 29.

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints.

They’re the front line of support for clients and customers and they help ensure that customers are satisfied with products, services, and features.

Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls Salary Range: Php 30,000 - Php 59,999

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

BusinessMirror

A8 Tuesday, November 9, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DASS, GAURAV Country Chief Finance Officer 71.

Brief Job Description: Optimize the financial business applications system; supervise the planning and analysis function through the head of business planning and analysis

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: At least 2 years experience in finance department; must be knowledgeable in business process management, innovation and automation, financial analysis and reporting

72.

Brief Job Description: Assisting the marketing department in the development of communication program.

Basic Qualification: Must be fluent in mandarin and good communicating skills.

73.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignments.

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

TU GIA TRI Customer Relation Representative (Mandarin Translation) 85.

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

DAVID J Bahasa Indonesian Language-trade Specialist 86.

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

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

87.

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

JOFAN CHANDRA Bahasa Indonesian Language-trade Specialist Brief Job Description: Bahasa Indonesian language-trade specialist

REDSHIELD SERVICES INC. Rm. 127 12/f Times Plaza Bldg., Un. Cor . Taft Ave., 072, Bgy. 666, Ermita, City Of Manila

LIEW KIAN SIANG Site Customer Service- Mandarin 74.

Brief Job Description: Serve customers by providing product and service information

TEONG SHI TIN Site Customer Service- Mandarin 75.

Brief Job Description: Serve customers by providing product and service information

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

NOVITA Bahasa Indonesian Language-trade Specialist 88.

76.

Brief Job Description: Serve customers by providing product and service information

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

ZHONG, SISI Chinese Speaking Customer Service Representative

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

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

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

77.

Brief Job Description: Reviews & provides recommendation on the technical aspect of the power plant project

Basic Qualification: Must be a confidential employee appointed by the head office in Japan

CHANG, PEI-YU a.k.a. CHANG, PO-YA Customer Relation Representative (mandarin Translation) 78.

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

LI, SHILI Chinese Speaking Admin Associate 90.

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

SEEKTOP SERVICE MANAGEMENT INC. 25/f Alphaland Corporate Tower, 7232 Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati

Basic Qualification: Through extensive and fluency in Mandarin language and characters Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Prepare and maintain company documents and reports and coordinate for daily administrative reports

WU, BIN Chinese Speaking Admin Associate 91.

Brief Job Description: Prepare and maintain company documents and reports and coordinate for daily administrative reports

79.

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

CHEN, YI-CHI Customer Relation Representative (Mandarin Translation) 80.

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

Basic Qualification: Through, extensive & fluency in Mandarin language and characters Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage projects with subcontractors; communicate with clients & subcontractor; Assist in estimating project cost; Provide on-site management construction project

CHEON, YAE HEE MYT Korean - Customer Experience Specialist 93.

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

Brief Job Description: Advisory & support services for clients concerning the order process, close cooperation with payment, warehouse and shipping departments

Basic Qualification: Through extensive and fluency in Mandarin language and characters Salary Range: Php 30,000 - Php 59,999

BELKE, JONATHAN Bilingual Technical Support Specialist 97.

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

98.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ensure all price changes and delivery of events are timely and accurate

99.

100.

101.

81.

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

HUANG, GUO-WEI Customer Relation Representative (Mandarin Translation) 82.

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

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

Basic Qualification: Through, extensive & fluency in Mandarin language and characters

PILAR, PETR Chief Technology Officer 94.

102.

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

VASANTH RAJ CHINNATHAMBY General Manager/corporate Treasurer

83.

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

Basic Qualification: Through extensive and fluency in Mandarin language and characters Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Oversee daily operations of the business unit and the organization

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

CHOY WEI KEE Malay-speaking Customer Service Officer 103.

Basic Qualification: 3 years experience in related fields.

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

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

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

WALTERMART SUPERMARKET, INCORPORATED Waltermart Supermarket, Waltermart Center 8001, A.e De Los Santos Avenue 1, Veterans Village, Quezon City

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

KNIGHT, MARIUS Vice President - Store Development

Basic Qualification: Excellent knowledge of the retail industry with international retail experience

Basic Qualification: Proficiency in handling customers question about services or products/ excellent Mandarin communication skills

104.

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

ZONAC AND SHIBATA SERVICES INC. 4/f Pbcom Tower, 6795 Ayala Ave. Cor. Rufino St., Bel-air, City Of Makati

Basic Qualification: BS Architecture graduate with 10 years of experience in construction industry.

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

Basic Qualification: Strong verbal and written communication skills in English and Korean Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Requires a 7-10 years relevant working experience in the field of Technology as a C-Level Technology Leader Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Overall in charge of technical trainings related to retail, operational excellence and execution

MARDIAN SARAGIH Indonesian Customer Service Representative Brief Job Description: Manage large amounts of incoming calls, handle customers

Salary Range: Php 500,000 and above

Basic Qualification: 1 year related experience, proficient in computer Salary Range: Php 30,000 - Php 59,999

ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers, 3rd Ave. Corner 31st St., Bgc, Fort Bonifacio, City Of Taguig

106.

Basic Qualification: Graduate of business course

YANG, BO Project Manager Brief Job Description: Project management

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

ZUELLIG PHARMA CORPORATION Km. 14 West Service Road, South Super Highway Cor. Edison Avenue, Sun Valley, City Of Parañaque

FOLLAND, JEFFREY AARON General Manager Brief Job Description: General management of the company ranging from business development and regulatory through sales and marketing

Basic Qualification: Over 20 years in multinational pharmaceutical companies in Australia Salary Range: Php 500,000 and above *Date Generated: Nov 8, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on October 23, 2021, the name of YU, MENG under TRIVES TECHNOLOGY CORPORATION, should have been read as MENG, YU and not as published.

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

TOTAL NUTRITION CORP. Tao Tech Group Bldg., J. Cruz St., Ugong, City Of Pasig

95.

LEE CHIN YUNG Customer Relation Representative (Mandarin Translation)

Brief Job Description: Responsible for overseeing the development and technology for external customers, vendors and other clients.

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

ZHANG, YANG Bilingual Technical Support Specialist

107.

Basic Qualification: Through, extensive & fluency in Mandarin language and characters

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

PAN, RONGJIAN Bilingual Technical Support Specialist

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

Basic Qualification: Proficiency in handling customers question about services or products/ excellent Mandarin communication skills

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

HUANG, ZEBIN Bilingual Technical Support Specialist

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

Basic Qualification: Proficiency in handling customers question about services or products/ excellent Mandarin communication skills

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

GENG, FEI Bilingual Technical Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: bachelor’s degree in business, marketing and other relevant courses

Brief Job Description: Works with customers/employees to identify computer problems and advises them on the solution

CUI, SHUAI Bilingual Technical Support Specialist

TDH INTERNATIONAL INC. 5/f Cambridge Center Bldg., 108 Tordesillas Cor. Gallardo Sts., Bel-air, City Of Makati CHI LINH PHUNG Customer Relation Representative (Mandarin Translation)

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

QUALIFICATION AND SALARY RANGE

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

TDCX (PH) INC. 25-26/f Cyberscape Gamma, Ruby & Topaz Rds. Ortigas Center, San Antonio, City Of Pasig

Basic Qualification: Through, extensive & fluency in Mandarin language and characters

96.

105.

92.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PARK, IN SUN Operations And Relationship Manager

TAISEI PHILIPPINE CONSTRUCTION, INC. Equitable Bank Tower 23/f, P. De Roxas, San Lorenzo, City Of Makati SUDA, SHIMPEI Japanese Project Manager

CHAU HOAN MANH Customer Relation Representative (Mandarin Translation)

No.

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

SPEEDWELL INC. Unit No. 2-c, Flr. No.4/f, One E-com Center Building, Ocean Drive St., Zone 10, Barangay 076, District 1, Pasay City

SAN ROQUE POWER CORPORATION The Enterprise Center, 36/f Ayala Avenue, San Lorenzo, City Of Makati

HIGASHIJIMA, TAKESHI Technical Advisor/consultant

Basic Qualification: Through, extensive & fluency in Mandarin language and characters

SOCIALATEMYIND INC. Unit No. Unit 2c Flr. No. No. 4/f, One E-com Center Bldg., Lot No. 4/f Mall Of Asia Complex Ocean Drive St., District 1, Barangay 076, District 4, Pasay City

89.

YANG, SHAN-MI Site Customer Service- Mandarin

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

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

QUALIFICATION AND SALARY RANGE

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

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

PROTEGIC CORPORATION Unit 1409, 14f Entrata Urban, Alabang, City Of Muntinlupa MAGGIE STAINLEY KHUANG Indonesian-language Customer Support Staff

84.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TAN CHENG KIM Customer Relation Representative (Mandarin Translation)

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

PHILIPPINE WIN’S ENERGY SAVING TECHNOLOGY CO. INC. Rm. 2104 21/f World Trade Exchange Bldg., 215 Juan Luna St. 027, Barangay 287, Binondo, City Of Manila

WANG, YOULONG Marketing Manager

No.

www.businessmirror.com.ph

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

Basic Qualification: 20 years of solid management experience and senior leadership role Salary Range: Php 150,000 - Php 499,999

UPSIDE DOWN MUSEUM CORPORATION Educ Exhibit Area, Boom Na Boom, Ccp Complex Bldg., Roxas Blvd. St., Barangay 76, Pasay City

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LIU, LIJIE Chinese Speaking Customer Service Representative 30.

ESTABLISHMENT / ADDRESS

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Proficiency in handling customers question about services or products/ excellent mandarin communication skills

31.

Brief Job Description: Agrees to accept the assigned to him/her, duly approved by the employer.

Basic Qualification: At least college graduate, preferably with experience in marketing.

32.

Brief Job Description: provide the customers of an organization with guidance and information

FAN, JIAZHI Mandarin Speaking Customer Service Representative 33.

Brief Job Description: provide the customers of an organization with guidance and information

44.

34.

Brief Job Description: provide the customers of an organization with guidance and information

HUANG, BO Mandarin Speaking Customer Service Representative 35.

Brief Job Description: provide the customers of an organization with guidance and information

TANG, JIAYE Mandarin Speaking Customer Service Representative 36.

Brief Job Description: provide the customers of an organization with guidance and information

XIANG, KUN Mandarin Speaking Customer Service Representative 37.

Brief Job Description: provide the customers of an organization with guidance and information

YANG, FENBIN Mandarin Speaking Customer Service Representative 38.

Brief Job Description: provide the customers of an organization with guidance and information

Basic Qualification: 18-50 y/o good organizational skills, proficient in relevant computer applications

45.

39.

Brief Job Description: Analysis of sports markets and events in sea; provision of analysis and recommendation

Brief Job Description: Manage Korean queries and complaints

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

46.

48.

Brief Job Description: Responsible in the kitchen department

Brief Job Description: Planning, maintaining and coordinate the development of primary and secondary market research

DAVIS, MATTHEW SCOTT Marketing Director

49.

Brief Job Description: Achieve the pre-agreed budget of RB PH for the year.

Lead the implantation of short and long term local marketing plans which provide and contribute to the realization of the objectives of the marketing division of RB PH. Create, develop, implement and direct the annual marketing plan and volume forecast of products to attain the division’s budget and market growth in the Philippines. Develop and recommend strategic plans for product development and introduction to create/meet consumer demand in line with core business strategies. Lead the development of RB PH according to the market potential and consumer demand in the Philippines.

50.

51.

YEE YEE WIN Burmese Speaking Customer Service Representative Brief Job Description: responsible for handling service support calls

DING, MAOHAO Mandarin Speaking Customer Relations Service Provider Brief Job Description: customer support and data base services

52.

GUO, RURU Mandarin Speaking Customer Relations Service Provider Brief Job Description: responsible for handling service support calls

XIAO, JIAMIN Chinese Customer Service Representative 40.

Brief Job Description: Make recommendations through the analysis of Chinese digital channel across the web, social media and collaboration

ZHANG, HAO Chinese Customer Service Representative 41.

Brief Job Description: Make recommendations through the analysis of Chinese digital channel across the web, social media and collaboration

Basic Qualification: At least college graduate, Chinese and Mandarin speaking Salary Range: Php 60,000 - Php 89,999

Basic Qualification: At least college graduate, Chinese and Mandarin speaking

53.

HE, CHANGHAO Mandarin Speaking Customer Relations Service Provider Brief Job Description: responsible for handling service support calls

54.

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

K.B.C. DREAM TRAVEL AND IMMIGRATION CONSULTANCY CORPORATION (K.B.C. TRAVEL AND IMMIGRATION CONSULTANCY) U-ug02 Cityland 8 Condo., 98 Sen Gil Puyat Ave., Pio Del Pilar, City Of Makati

MENG, FEI Mandarin Speaking Customer Relations Service Provider Brief Job Description: responsible for handling service support calls

55.

YANG, QINGKANG Mandarin Speaking Customer Relations Service Provider Brief Job Description: responsible for handling service support calls

XU, QUANYAN Chinese Marketing Manager 42.

Brief Job Description: Responsible for managing the company’s marketing initiatives and uses market research

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

Basic Qualification: Proficient in speaking, reading and writing Korean and English

YARASHEVICH, SIARHEI Foreign Language Marketing Specialist 58.

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

Basic Qualification: Fluent in English and Thai; College graduate

59.

60.

61.

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

62.

63.

64.

56.

Brief Job Description: Responsible for handling service support calls

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

Brief Job Description: Committed to improving customer experience and operational efficiency

Brief Job Description: Responsible in managing and leading the business operations including the development of the company’s brand, drive, the efficiency and profitability of the business, mentor of talent, oversee and growth both existing client relationships

SY XUONG AN Vietnamese Customer Service Brief Job Description: Customer support and data base services

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs HUANG, ZHENYUAN Chinese Customer Service Representative

65.

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs LUO, SHUANGYI Chinese Customer Service Representative

66.

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs TIAN, FAN Chinese Customer Service Representative

67.

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs XIA, CHAODONG Chinese Customer Service Representative

68.

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs YAO, JINGYA Chinese Customer Service Representative

69.

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs PARK, MOONSOO Korean Customer Service Representative

70.

ZHAO, LIANG Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

DIONG WEN SIANG Chinese Customer Service Representative

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

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

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

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

Basic Qualification: Bachelor’s degree in operations research, mathematics, economics, statistics, physics, engineering, communications or marketing; 10-15 years technical and consultative experience with digital technology such as server migrations, tag management implementation

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

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors, Century Diamond Center, Kalayaan Ave. Cor. Salamanca St. Poblacion, City Of Makati

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

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque

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

Basic Qualification: proficient in speaking, reading and writing in foreign languages

Salary Range: Php 500,000 and above

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

LI, LU Mandarin Customer Service

GUPTA, ABHISHEK Managing Director

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

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

MOVENT, INC. 8th Floor, Picadilly Star Bldg., Blk. 19, L-3, 4th Ave. Cor. 27th St., Fort Bonifacio, City Of Taguig

Salary Range: Php 500,000 and above

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

Brief Job Description: conducting research and marketing strategies to develop areas of the business opportunities

LI, WENHUI Mandarin Operation Specialist

Basic Qualification: Proficiency in handling customers question about services or products/ excellent mandarin communication skills

Basic Qualification: The company is looking for a leader with extensive year’s progressive marketing/sales experience in a customer products company, preferably in a food/ nutritional businesses with not less than 7 years in supervisory / consumer products/ Advertising and promotion industry with high level in industry.

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

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

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

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

Brief Job Description: conducting research and marketing strategies to develop areas of the business opportunities

DUAN, LING Mandarin Speaking Marketing Specialist

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

ZHOU, ZHENG Mandarin Speaking Customer Relations Service Provider

QUALIFICATION AND SALARY RANGE

MIGHTY-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505- E The Finance Centre, 26th St., Fort Bonifacio, City Of Taguig

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

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg., Edsa Cor. Macapagal Blvd., Brgy. 076, Pasay City

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

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

Basic Qualification: Proficient in speaking, reading and writing Korean and English

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: responsible for handling service support calls

MEAD JOHNSON NUTRITION (PHILIPPINES), INC. 2309, P. Tamo Ext, Magallanes, City Of Makati

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

Basic Qualification: College degree, with qualifications and experience being head of basketball and manila operations

SUTHASIRI, PIYA Executive Chef

TAN, YUHU Chinese Speaking Business Analyst

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

Brief Job Description: Design IT system and networks ensuring the right architecture and functionality

57.

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

MARKETCLUB INC. 41/f Gt Tower International, Ayala Ave. Cor. H.v. Dela Costa St., Bel-air, City Of Makati

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

Basic Qualification: With good oral written communication skills, knowledge in computer application

No.

MANILA HOUSE PRIVATE CLUB, INC. 8th Floor Net Park 5th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

Brief Job Description: Integrate data from various back-end services and databases

KIM, KYUNGHUN IT Specialist

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

INTERACTIVESPORTS ASIA LIMITED INC. 6/f T3 Double Dragon, Dd Merid Bldg. Edsa Ext. St., Barangay 076, Pasay City

TOWNSEND, NICHOLAS DAVID Head Of Basketball And Manila Operations, Corporate Treasurer

LEE, KANGTO Customer Service Representative

PARK, JIWON Data Analyst

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

QUALIFICATION AND SALARY RANGE

KINDOSAR PROCESS SOLUTIONS INC. Unit 5d, Rose Industries Bldg., Pioneer St., Kapitolyo, City Of Pasig

47.

GUAN, SIYU Mandarin Speaking Customer Service Representative

Brief Job Description: Research, explore and study different travel destination option

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

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

CHENG, BO Mandarin Speaking Customer Service Representative

43.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHUO, GUIHAI Chinese Travel Consultant

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

HANMI MICRONICS INC. Unit 608 Global Telecom Plaza, Pioneer Cor. Madison, Barangay Barangka Ilaya, City Of Mandaluyong

HONG, CHONG SUK Korean Marketing Lead

No.

Tuesday, November 9, 2021

Brief Job Description: Managing calls and customer services inquiries; Identifying and assessing customer’s needs

Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speaking in Mandarin and English Salary Range: Php 30,000 - Php 59,999

NOVARTIS HEALTHCARE PHILIPPINES, INC. 5/f & 6/f Ayala North Exchange Tower 1, Ayala Ave. Cor. Salcedo & Amorsolo Sts., San Antonio, City Of Makati

A7

News BusinessMirror

www.businessmirror.com.ph

Galvez cites reasons in ‘wastage’ of Covid vax

O

VER 160,000 doses of Covid-19 vaccines were “wasted” due to container breakage, improper handling and accidents, according to the National Task Force (NTF) Against Covid-19 chief implementer Carlito Galvez.

In a televised interview with PTV on Monday, NTF chief said the bulk or 148,000 of the said doses were destroyed after a fire damaged a storage facility in Zamboanga del Sur last month.

The Department of Health (DOH) and the Department of the Interior and Local Government (DILG) are currently investigating why such a large number of jabs were stored in the facility and were not immediately distributed to its intended beneficiaries.

The remaining 12,000 vaccine doses were wasted due to breakage of container vials and power disruptions, which affected the temperature in the storage facilities of some of the said jabs, according to Galvez.

The vaccine czar, however, assured that the said “wastage” falls within internationally accepted standards that range from1 percent to 3 percent of a country’s overall vaccine supplies.

He noted that over 160,000 wasted vaccines in the country is less than 1 percent of the government’s 110 million Covid-19 jabs.

Galvez congratulated the National Vaccine Operation Center for keeping the vaccine wastage at minimal.

“While we want not to waste [any vaccine doses], there are calamities we just can’t avoid,” Galvez said.

As of last Sunday, the government was able to administer 64.1 million doses of Covid-19 vaccines nationwide.

To further increase these figures, Galvez said they are now pushing for a three-day National Vaccine Day, which will start on November 29, 2021.

“We want it to coincide with the National Heroes Day on November 30 since we want to send a message to the public that those who get vaccinated are heroes,” Galvez said.

The Filipinos’ public acceptance of the coronavirus vaccine has “significantly” increased, he added, citing the latest survey data showing that vaccine acceptance among Filipinos has increased from 46 percent to 64 percent.

Galvez also cited the importance of having a continuous vaccination information drive to further address vaccine hesitancy. Samuel P. Medenilla

As Covid cases decline, DOLE mulls over lifting of HCW deployment cap

By Samuel P. Medenilla @sam_medenilla

A

MID the reported decrease in Covid-19 infections nationwide, the Department of Labor and Employment (DOLE) is once again eyeing to raise the slots on the deployment cap of health-care workers (HCW) overseas.

Labor Secretary Silvestre H. Bello III made the announcement after the Philippine Overseas Employment Administration (POEA) temporarily “suspended” the deployment of additional nurses, nursing aides and

nursing assistants last month when the existing 6,500 slots for the 2021 cap was finally exhausted.

At a virtual news briefing on Monday, the labor chief said he would be consulting the Professional Regulation Commission (PRC), Philippine Nurses Association (PNA) and the Department of Health (DOH) to study the feasibility of raising the deployment cap.

“If they say it [increase] is okay, we will add another 1,500. But until that is decided, we will not be deploying any [HCWs] except balik manggagawa [returning overseas Filipino work-

PHL’s ‘tallest’ air control tower operational by April 2022–CIAC

C

LARK FREEPORT—An executive of the staterun Clark International Airport Corp. (CIAC) on Monday said a modern 18-story air traffic control tower building facility at the Clark International Airport (CIA) is expected to begin operations on April 24, 2022.

“This new tower will be equipped with state-ofthe-art technology, has an impressive architectural design, and is an outstanding asset of the government aimed at improving the aviation complex facilities servicing the Clark airport,” CIAC President Aaron Aquino, in a recent site inspection at the civil aviation complex, said.

The P316.4-million tower project was made possible through a funding approved via the General Appropriations Act of 2020 under the account of CIAC’s parent company, the Bases Conversion and Development Authority, Aquino added.

Aquino was accompanied by CIAC Vice President for Operations, Irish Calaguas, during the site inspection with the agency’s project engineers and representatives from the MSV Construction Corp., the contracting company for the project.

“The project started in January this year and, upon completion, will be the tallest in the country—18 storys in height or around 54 meters— much higher than the existing one built in the 60s by the Americans when Clark was still a US Air Force base,” the CIAC chief said.

The control tower at the Ninoy Aquino International Airport is measured at about 40 meters while Mactan-Cebu International Airport’s tower is at 30 meters high.

Aquino also noted the existing control tower needs to be replaced as it is more than 50 years old and has exceeded its intended lifespan alongside line-of-sight issues inconsistent with the national government’s current master plan for the Clark airport.

ECOP pushes back completion of 1-M job generation goal to Jan

By Tyrone Jasper C. Piad

A

Tuesday, November 9, 2021 A9

@TyronePiad

N initiative aiming to generate 1 million jobs this year is delaying its timeline by a month due to the implementation of strict lockdown measures in August.

Employers’ Confederation of the Philippines (ECOP) President Sergio Ortiz-Luis Jr. said in a Laging Handa briefing on Monday that the 1-million job target will not be achieved this year. Still, he is optimistic that it will be realized given a longer period.

“Tingin namin, ’yung 1 million jobs, maaattain ’yun. Kung ma-delay man, isang buwan siguro sa January [We believe that the 1-million job target will be achieved. If there is delay, it will be one month or until January]” he said.

Ortiz-Luis said that placing Metro Manila under the enhanced community quarantine measure back in August derailed the goal by a month.

Based on latest data, the ECOP official said that the initiative has produced 250,000 jobs or 25 percent of the target. These mostly include employment from the business process outsourcing, construction and hospitality, he said.

The initiative was launched in June in partnership with the National Employment

Recovery Strategy (NERS) Task Force in a bid to support the government’s employment recovery plan following the surge in joblessness amid the pandemic.

Apart from ECOP, the following are also taking part in the project: Philippine Chamber of Commerce and Industry, Philippine Exporters Confederation Inc., Hotel and Restaurant Association of the Philippines, Philippine Constructors Association, Philippine Hotel Owners Association Inc. and Semiconductor and Electronic Industries in the Philippines Inc. “The project aims to immediately source Filipino talents for deployment in the construction, manufacturing [particularly semiconductors and electronics], tourism and hospitality, and export industries, under a policy environment that would help create jobs all over the country,” the manifesto reads.

Meanwhile, the umbrella organization of employers welcomed the easing to Alert Level 2 for Metro Manila as this will help workers to return to their jobs, especially for the non-essential sector.

The loosening of mobility curbs will help in the recovery of the businesses, Ortiz-Luis said. However, it will still take them about two years to fully recoup their losses amid the pandemic, he added.

ers] and those bound for the United Kingdom,” Bello said.

Labor Assistant Secretary Dominique R. Tutay noted that the Mission Critical Skills Technical Working Group (MCS-TWG) would also review its position on the matter in its next meeting.

“The recent pronouncement of POEA that the cap has been reached and that of the Secretary, then we will convene the TWG na maybe this week, if not next week,” Tutay told the BusinessMirror in a Viber message on Monday.

“We will consider the increase/

decline of Covid cases and the available supply of health-care workers,” she added.

To note, the government recently observed a decline in Covid cases and health-care utilization in Metro Manila and other parts of the country prompting it to lower movement and business restrictions in Metro Manila and other parts of the country.

Last August, the MCS-TWG recommended against any increase in the deployment cap this year due to the “perceived” shortage of HCWs amid the local surge in

New DAR chief Cruz vows to prioritize small farmers

By Jonathan L. Mayuga @jonlmayuga

D

EPARTMENT of Agrarian Reform (DAR) Acting Secretary Bernie Ferrer Cruz, who formally took over the agency’s top post on Monday, vowed to bring progress in rural areas by prioritizing the needs of small farmers.

Cruz took over from former DAR Secretary John Castriciones who resigned to concentrate on his senatorial bid under PDP-Laban in next year’s election.

As new DAR chief, Cruz also wants to fast-track the distribution of cert i f ic ate s of l a nd o w ne r s h ip aw a rd (CLOAs) to agrarian reform beneficiaries (ARBs), as well as the provision of support programs and ser vices to ARB organizations (ARBOs) and fast-track the resolution of cases under the Comprehensive Agrarian Reform Program (C ARP) implementation.

“Under my leadership, the agency would double its effort to distribute all the remaining undistributed lands to the landless farmers, provide support services to ARBs and bring social justice in agrarian reform communities,” he said.

Cruz said farm consolidation might be the best path toward improving agriculture, livelihood, and productivity. He said there are two consolidating initiatives that are already being pursued by DAR which include the Mega-Farm and the Inclusive Partnerships for Agricultural Competitiveness projects.

“Both initiatives are intended to improve market linkages and the competitiveness of farmers and aid the DAR in coordinating with institutional partners that can assist in the capital buildup, man-

agement skills, and research and development,” Cruz said.

He said the improvements to farm incomes and productivity would also do much to encourage agricultural expansion and inspire succeeding generations to continue farming, both of which are critical for the nation to achieve food security.

“I am committed to bring industrialization in the agricultural sector and through the provisions of support services, such as livelihood opportunities, infrastructure projects, farm machinery and equipment, capability-buildings training, loan facilities, among other support, we can achieve a stable rural economy,” he added.

Cruz was the undersecretary for foreignassisted and special projects office prior to his appointment.

It can be recalled that Cruz played a big role in the approval by the World Bank (WB) of the DAR’s Support to Parcelization of Land to Individual Title (SPLIT).

The SPLIT program seeks to give a total of 1.1 million agrarian reform beneficiaries, covered under collective certificates of land ownership award (CCLOA), the chance to identify and own their respective individual land titles and farm lots.

The WB approved a loan package amounting to P24 billion for the implementation of the SPLIT program, comprising 78 percent loan proceeds amounting to P19.240 billion and 22 percent Government of the Philippines counterpart funding amounting to P5.385 billion.

DAR would implement the project in 78 provinces in 15 regional offices, covering a total area of 1.368 million hectares, starting this year 2020 until 2024.

Covid-19 infections.

“At that time, we have not acted on the request in the affirmative [of increasing the cap] as it is the height of the Delta variant and there were more than a thousand slots [in local health-care facilities] that have not been filled up,” Tutay explained.

POEA imposed the 5,000 deployment cap for HCWs last January to ensure the country would still have a sufficient pool of workers for its Covid-19 response.

It was later raised to 6,500 by POEA.

BOUNTY FOR ARREST OF CAMSUR MASSACRE SUSPECT RAISED

By Rene Acosta

A

@reneacostaBM

REWARD has been put up for the arrest of the suspect who massacred his five relatives, three of them children, in Milaor, Camarines Sur, over the weekend.

Anthony Reyes, mayor of Milaor, said in a news conference carried live on social media on Monday that his municipality has offered to give P100,000 to anyone who could provide information that could lead to the arrest of Arthur de Leon.

De Leon was tagged in the killing on Friday of his uncle Romeo de Leon,72; his nephew Samuel de Leon Cobilla Jr., 27; his grandnephews Hobbie John, 6, and Robbie John Britanico, 4, and grandniece Noela de Leon Agliones, 7, de Leon’s another grandnephew, Hades John, 7, was also wounded and is currently in the hospital.

The police said de Leon, in a camouflage suit, barged into the house of his uncle at Zone 1, Barangay Tarusanan, Milaor, at around 5:45 p.m. on Friday and fired shots at the victims using an M-16 rifle. The children were playing at that time.

After the shooting, de Leon walked up to the adjoining house of his uncle’s daughter, Luzviminda Cobilla, and aimed at her, but ended up shooting Samuel. The police said the suspect also threw a grenade into Cobilla’s house.

Reyes and Milaor police officials said manhunt operations are continuing against de Leon whose arrest is expected to be hastened by the reward money.

Reyes said former Camarines Sur first district congressman Rolando Andaya Jr. has also promised to give an additional P500,000 for information leading to the arrest of the suspect.

A10 Tuesday, November 9, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

What PHL can learn from Europe’s surge

T

he World Health Organization is currently working with global medical experts to map out the probable course of the pandemic over the next 18 months. By the end of 2022, the WHO, through its COVAX initiative, aims for 70 percent of the world’s population to be vaccinated. Maria Van Kerkhove, an epidemiologist leading the agency’s Covid-19 response, said: “If we reach that target, we will be in a very, very different situation epidemiologically. We think between now and the end of 2022, this is the point where we get control over this virus...where we can significantly reduce severe disease and death.”

The latest WHO report said Covid infections have been declining since August in nearly all regions of the world, except in Europe where the Delta variant is still raging in countries with low vaccination coverage.

A Bloomberg report on Saturday—Europe relapses as Covid hot spot in warning sign for recovery—paints a grim picture of the Covid surge: “Europe has again become an epicenter for the coronavirus, calling into question the region’s efforts to recover from the pandemic. Despite an abundance of Covid-19 shots, countries from Germany to Greece have reported record infections in recent days, while Romania and Bulgaria are experiencing horrific levels of fatalities and overwhelmed hospitals.”

Here’s Bloomberg’s report from across Europe: “Germany’s fourth Covid wave is hitting hard, with infections reaching record levels this week and hospitals in some hot spots becoming overwhelmed. The country is now calling on all adults to get booster shots six months after their second doses.”

In Italy, some northern regions have seen a fast increase in cases, linked in part to protests by anti-vaccine activists against the introduction of a mandatory pass.

The rise has prompted authorities to make a renewed push for people to get shots.

In Greece, five record highs over the past six days has prompted a fresh round of restrictions, with unvaccinated individuals now needing to show a negative Covid test in order to visit some shops, beauty salons and restaurants.

In Denmark, where more than 75 percent of the population is fully vaccinated, the number of daily cases has doubled in the last 10 days and hospitalizations have spiked. Soren Brostrom, head of the country’s health authority, on Thursday urged the government to re-introduce some restrictions, including the use of Covid-19 passports at public events.

The Czech Republic recorded its worst week of infections since March, when it endured one of the deadliest outbreaks in the world. Hospitalizations are at a six-month high, and fatalities are also rising. The country is tightening rules to make it harder for unvaccinated people to visit restaurants as well as sporting and cultural events.

Romania recorded the world’s highest fatality rate in the past week. A lack of available beds has left people stranded in ambulances or to be treated in hospital hallways. Some patients received oxygen in their cars.

Bulgaria, the EU’s least-vaccinated member, had its deadliest week of the pandemic, with more than 1,000 fatalities. Authorities are tightening measures, while looking to avoid a lockdown ahead of a general election on November 14.

From the Associated Press: “Russia’s Covid-19 cases hit another one-day record as the country struggles to contain a wave of infections and deaths that has persisted for more than a month. The national coronavirus task force on Saturday reported 41,335 new cases since the previous day, exceeding the previous daily record of 40,993 from October 31. The task force said 1,188 people with Covid-19 died.”

From Bloomberg: “China reported 50 additional local Covid infections, as authorities said strict curbs would remain in place to disrupt the spread of transmission. Twenty-one cases were recorded in Hebei province, which is in close proximity to Beijing, the National Health Commission said. The outbreak is fueled by the Delta variant and has now reached 20 out of 31 mainland provinces, the broadest virus spread in China since the pathogen first emerged in Wuhan.”

The Covid surge in some countries in Europe and in China should serve as a cautionary lesson for our policy makers in their desire to fully reopen the economy.

A vital takeaway: The Delta variant is raging in countries with low vaccination coverage, which should put fresh urgency into government efforts to vaccinate at least 70 percent of the population. With the coming holidays, we must not let our guard down. We all need to follow health protocols. We can’t afford to have new Covid outbreaks like the ones currently crippling some countries in Europe.

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R

ecent health and economic indicators make me cautiously optimistic about our recovery. I say cautious because the pandemic still lingers in many countries including the Philippines, yet optimistic because the lifting of some economic restrictions will allow more Filipinos to earn a living.

A semblance of normalcy is emerging in Metro Manila, once the epicenter of the Covid-19 outbreak in the country that has managed to bring down the number of daily new cases substantially over the past few weeks.

Credit goes to the massive vaccination program approaching 90 percent of the target population in the capital region, which even exceeds the government’s forecast and the actual rate in many advanced countries.

The Department of Health reported that fully vaccinated individuals in Metro Manila reached over 8.6 million as of last week, or 88 percent of the target population.

The vaccination rate in the provinces, though, lags with only about 30 percent, prompting President Rodrigo Duterte to castigate local government units outside of Metro Manila for their slow utilization of available vaccines. About 110 million Covid-19 vaccine doses have arrived

in the country this year, which means we have ample supply to ramp up the rollout and achieve the target of inoculating 70 percent or 77 million of the eligible population.

Active Covid-19 cases nationwide fell below 40,000 last week and the numbers are expected to sustain the downtrend if the virus reproduction rate does not exceed 1.0. Just in August and early September, the active cases reached nearly 200,000 that filled most hospitals in the National Capital Region. The declining trend means the Covid-19 vaccines work.

These numbers encouraged the Inter-Agency Task Force and the Metropolitan Manila Development Authority to further ease economic restrictions, such as the full lifting of curfew hours in the Metro Manila, the increase in allowable capacity for mass transit and public transport to 70 percent, and the opening of local tourism destinations, including hotels and resorts, to visitors.

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My cautiously optimistic outlook

T

he last five years has seen an increasing global trend on what I can only describe as a near-complete breakdown of civility and respectable behavior. Sure, I am an old man but I have seen and lived through much more than half a century of human behavior and it is different this time.

“We can agree to disagree.” Ok, that is a silly idea in the beginning and is something that I would only say as I am getting ready to push the big red button that will launch the nuclear-weaponed missiles. However, within a society—or neighborhood as the case may be—there has to be a strong element of “go along to get along.” Otherwise, everyone burns. But we have also seen that many people do not care as long as their viewpoint comes out on top regardless of the collateral damage.

This is exceedingly dangerous.

Also exceedingly dangerous is the person or group that has noth-

ing to lose. The political opposition in nations around the globe both advanced and “basket-case” has become exceedingly comfortable using the vilest language and the strongest possible political obstructionism to gain their ends.

The American political left is outraged and having fainting spells at the “F*** Joe Biden” (now “Let’s Go Brandon”) being chanted at sporting events and rallies around the country. Yet in 2018 they cheered with a standing ovation and newspaper editorials calling actor Robert de Niro “brave and honest” when he said “I’m gonna say one thing. F***

I am likewise pleased with the early decision of the government to place Metro Manila under the more lenient Alert Level 2 from Alert Level 3 starting Friday. The lower alert level will now allow most businesses to operate and restaurants to increase the capacity of allowed diners.

The easing of quarantine measures is expected to help our economy recover from the devastating impact of the health crisis and enable more of our people to resume their livelihood. Remember that at the height of the pandemic in April and May last year, we shut down 75 percent of our economy. So any leeway to businesses at this point would be most helpful to our entrepreneurs and our workers.

However, I believe that we should remain cautious and continue to follow health protocols such as the wearing of face masks outside our homes and the sustained vaccination of the general population, including minors. We may also begin to consider providing booster shots soon to our health workers, senior citizens and the vulnerable population who received their second vaccine doses over six months ago.

A sustained vaccine rollout may further lower the country’s daily Covid-19 cases to 2,000. The Philippines actually registered 1,591 on November 3, the lowest single-day tally in eight months or since February 24.

Health experts attribute the decline in new infections to increased vaccination coverage and the low positivity rate, or the proportion of people who test positive using RT-

Trump” at the internationally televised broadcast of the Tony Awards.

In my opinion there is nothing wrong with either thought as along as you are willing to go all the way to completely destroy your political opponents. That might bring up images of Hitler, Stalin, Mao, the Korean Kims, and Pol Pot. But then again, if you are not willing to kill at least a few hundred thousand if not millions, are you genuinely committed to a particular political view?

The problem is that once you eliminate any respect for your “opponent,” going scorched earth is the only sensible tactic to gain the strategic goal of “winning.”

But it is not just people vs people.

Is it not “scorched earth” when governments are willing to withhold basic financial safety nets for the poorer economic groups to force vaccinations? Is it “civilized” for the government to seize a person’s property to pay a fine for not wearing a mask? But it is for the public welfare, right?

In 2013 then-Senator Chiz Escudero said this: “The cedula was first implemented as a 19th century tax reform in the Philippines during the Spanish rule.” “Tax reform” is

PCR, and low daily attack rate or the percentage of at-risk population that contracts Covid-19.

The ultimate measure that will show the government’s confidence in containing the pandemic, of course, is the opening of physical classrooms. Hopefully, this will happen next year, although pilot tests will begin in November this year covering a small number of schools.

No less than the National Economic and Development Authority expressed concern over the impact of the prolonged closure of schools on our productivity and talent supply in the future. Per Neda’s estimate, the health crisis will cost the economy P41.4 trillion over the next 40 years in terms of lost or reduced wages and lower productivity.

But I believe we can avert the lost opportunity by fortifying our economy ahead of the full reopening. The completion of several infrastructure projects in recent months, for one, will help us take advantage of the growing global trade. Government infrastructure spending jumped to P282 billion as of the second quarter of 2021 from P170 billion a year ago. The higher spending allowed us to resume economic activities, particularly trade.

With our macro-economic fundamentals intact despite the pandemic challenges, I remain sanguine about our prospects as a nation.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

certainly for the public good and welfare. President Diosdado Macapagal said in a speech in 1962 echoing Andres Bonifacio, “The piece of paper that Bonifacio tore to pieces was not just an ordinary document.

It was a cedula, which symbolized the chain that shackled Filipinos to a life of subjection.”

Here is the thing though. As we have allowed more and more “subjection” by governments in the name of the “public good,” the more bitter and acrimonious has become the fight for who controls the government. Iconic 18th-century English jurist and judge Sir William Blackstone wrote, “The public good is in nothing more essentially interested, than in the protection of every individual’s private rights.”

Note, “individual’s” rights; not collective rights.

Everyone has a sensible and worthy argument on both sides of most issues. But in general, I fear the situation is going to get worse before it gets at all better.

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

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Tuesday, November 9, 2021 A11

Dividends to non-residents: ‘Dr. Andrew L. Tan: The Visionary, The Philanthropist’ Tax sparing provision or tax treaty Manny F. Dooc TELLTALES

Atty. Mabel L. Buted

Tax Law for Business

T

he reduction starting this year of the corporate income tax rate applicable on income derived from sources within the Philippines by non-resident foreign corporations (NRFCs) to 25 percent necessarily reduced the final withholding tax rate to the same rate. The income subject to the new rate includes dividends. It follows that the final withholding tax rate that should generally be used by the Philippine investee corporations when paying dividends to their corporate foreign shareholder shall be 25 percent.

There is, however, a provision in the Tax Code (usually referred to as the tax sparing credit provision) allowing a reduction of the 25 percent tax rate to 15 percent, on the condition that the country in which the non-resident foreign corporation is domiciled allows a credit against the tax due from the non-resident foreign corporation taxes deemed to have been paid in the Philippines equivalent to 10 percent. This deemed paid tax credit is the difference between the regular tax rate (now at 25 percent) and the 15 percent reduced tax rate. An old decision of the Supreme Court interpreted this rule to include an instance where the country of residence of the corporate stockholder exempts from tax the dividends derived from the Philippines.

Another alternative for the reduction of the final tax on dividends due to non-residents is through the availment of tax treaty benefits. For dividends, the maximum rates provided in these treaties range from 10 percent to 25 percent. There are exceptional instances where 5 percent could apply. Of course, the application of these preferential rates is subject to conditions defined in the respective treaties.

So there are two instances where the 25 percent tax rate on dividends may be reduced. One is through the availment of the preferential tax rates provided in the tax treaties.

The other instance is through the availment of the tax sparing provision in our Tax Code.

Are taxpayers mandated to follow either of these or to choose which one to apply? No. Taxpayers may not in fact avail themselves of the reduced rates and instead apply the 25 percent rate under the Tax Code. But if a taxpayer is considering the use of lower rates, it has to determine first whether these are applicable. For the tax treaty to apply, there has to be an existing tax treaty between the Philippines and the country of the recipient shareholder. There are more than 40 tax treaties that the Philippines had concluded with other countries.

If the shareholder is not a resident of any of these countries, no treaty and accordingly, no preferential tax treaty rate will apply. On the other hand, for the tax sparing provision to apply, the country of residence of the shareholder should either exempt the dividends received by the shareholder from income tax or allows a tax credit for the tax deemed paid in the Philippines equivalent to 10%. If not, the tax sparing provision will not apply.

By the way, the tax sparing provision does not apply to individual shareholders. It applies only if the shareholder is a non-resident foreign corporation. So, if the shareholder is a non-resident individual, the reduction in rate can only be availed through the tax treaty, if one is applicable.

Should the NRFC be entitled to avail itself of a reduced rate either under the tax treaty or through the tax sparing provision, one important factor is the rate. The reduced rate under the tax sparing rule is fixed at 15 percent. But tax treaties provide for varied rates, subject to conditions. The imposable rate could also be 15 percent but it

could be higher or lower. The difference between the rate provided in the treaty and the 15 percent tax sparing rate may determine which one to avail.

While the rates are important, the procedures for the availment of the reduced rates on dividends are also essential in determining which one to avail. Separate issuances define the guidelines for the availment of the reduced rates under both instances. Revenue Memorandum Order 046-20 provides for the procedures in availing the 15 percent rate under the tax sparing rule. Under this RMO, the reduced rate of 15 percent may be applied outright by the withholding agent. However, within 90 days from the remittance of the dividends, or from the determination by the foreign tax authority of the deemed paid tax credit/non-imposition of tax because of the exemption, whichever is later, the foreign corporation shall file with the International Tax Affairs Division of the BIR a request for confirmation for the applicability of the reduced dividend rate of 15 percent.

For the availment of tax treaty benefits, RMO 14-2021 returned the requirement for the application for tax treaty relief. This covers all types of income payments entitled to treaty benefits, including dividends. The reduced rate under the treaty may also be applied outright subject to a subsequent request for confirmation on the propriety of the withholding tax rate applied.

The request for confirmation shall be made any time after the close of the taxable year but not later than the last day of the fourth month following the close of such taxable year. If the withholding agent does not apply the treaty rate and instead applies the 25 percent tax rate under the Tax Code, the income recipient or its authorized representative may file a tax treaty relief application, as well as an application for refund, any time after the payment of the withholding tax.

So in either case, there has to be an application/request for confirmation of the application of the reduced rate. The difference lies in the period for filing the application/request, the documentary requirements for the filing, as well as the regularity in filing. There is no preferred option.

That depends on the circumstances of the transaction and the parties involved. One has to note, however, that in the availment of the tax sparing provision, the law granting tax exemption or the allowance of tax credit in the country of residence of the income recipient has to be substantiated. That is not required in the availment of tax benefit as the treaty itself serves as the law that governs the entitlement to the preferential rate.

The author is a senior associate of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@ bdblaw.com.ph or call 8403-2001 local 312.

T

he award-winning coffee table book on the above-captioned subject deals about the life and work of an extraordinary man who accumulated his millions well before he was 30. He was not born to wealth and privilege. Dr. Andrew Lim Tan was born in Fujian, China. At age 4, the family moved to Hong Kong where he grew up. His family lived in a tenement unit shared with several families under sordid conditions. When he was 16, his family migrated to the Philippines where they rented a place in Sta. Cruz, Manila to be near to school and work.

His father worked in a transistor radio factory and his mother was a plain housewife. Despite their limited education, Andrew’s parents strongly encouraged their son to finish a college degree so that he could work in a bank where he could earn a stable income. But young Andrew had other ideas in mind. He wanted to go into business to provide for his family. After completing his high-school education at the Far Eastern University, he took up Business Administration, majoring in Accounting, at the University of the East where he graduated Magna Cum Laude. He supported himself through college by selling watches, tutoring younger students in Math and working part time in an import-export business. After passing the CPA board examination, he worked in a company owned by a prosperous Filipino-Chinese taipan. He worked hard and was able to save money and raised a capital to partner in a trading firm importing and selling home appliances in bulk.

He was also its most successful salesman providing supplies to appliances stores, big and small, around the country. In 1979, he acquired a small

distillery company and renamed it Consolidated Distillers of the Far East. It was his ticket to big time business. Initially, his brandy, Emperador, had suffered reverses that almost wiped out his capital, but he persevered until it became the best selling brandy in the country. Then he turned his eyes on real estate development by putting up Megaworld Corporation. He pioneered the integrated township community where residential, commercial, entertainment and office spaces are combined in one development area. Eastwood City is the model for this township project, which has been replicated in many parts of the country. It is now a busy and thriving integrated township community which houses more than 20,000 residents and over 50,000 office workers. Forbes Town, Uptown Bonifacio and McKinley Hill in BGC, Taguig City were all inspired by the successful Eastwood project.

The country is dotted with various real estate projects developed by its flagship property development company and its various subsidiary companies such as Empire East LandHoldings, Suntrust Properties, Inc., Global Estate Resorts, Inc., Town-

ship Development, Mactan Oceanview Properties and Holdings, Inc., Megaworld Newport Property Holdings, and several more. No doubt, Mr. Tan has greatly contributed to the improving landscape and gentrification of our cities and countryside. His business and cyberparks have spurred business growth and generated significant employment in the communities where they were built. Mr. Tan is the biggest BPO office provider and lessor in the Philippines, giving tremendous job opportunities to the Filipinos. The BPO is one of the resilient businesses that continue to thrive during this pandemic and provides a steady source of income to many Filipinos despite the widespread job disruption.

His phenomenal successes in distilled spirits manufacturing and real estate business did not deter him from pursuing interests in fast food, hotels and tourism and, lately, infrastructure. His famous brands now include Fundador, Spain’s biggest and oldest brandy house, McDonald’s, NxtGen stores, Pik-Nik International, Whyte and Mackay Blended Scotch, Travellers International Hotel Group, among others.

Despite his status as one of the top five richest Filipinos with diverse business interests, Dr. Tan never forgot where he started. From a lowly appliance salesman, he’s now a fulfiller of men’s dreams. He provides you affordable but decent housing, or luxurious dream house, depending on your taste and budget. Dr. Tan can give you a job to bring food on your table; he can accommodate you in his boutique or luxurious hotels that suit your leisure money. And to many lowly wage earners where outside fast food dining after payday is a welcome family treat, a McDonald’s meal after the Sunday mass is the highlight of the month.

In his message to the readers of his coffee table book, Dr. Tan imparts

these inspiring words: “May the stories of the companies we have built motivate you to keep pursuing your dreams, fuel your desire to prosper, and inspire your higher purpose in making your vision a reality.”

Within a decade since he started his own business, Dr. Tan earned his first billion. He did not inherit any fortune nor was he a crony of any president who gave him unfair advantage over others. Every cent of his vast fortune and every foundation of his sprawling empire was earned and laid through dint of hard work and industry. But his vision goes beyond the bottom lines of his various companies comprising his business conglomerate. His business ardor is matched only by his passion to serve others. Through Megaworld Foundation, Dr. Tan has supported 1,000 scholars every year to give opportunity to the poor to have access to quality education. It has sponsored community projects and partnered with various NGOs to provide housing for the poor, build and repair schools and provide assistance to frontliners and other vulnerable sectors of our society to cope with the pandemic. Dr. Tan speaks from the heart when he stated: “At the end of the day, we exist to serve others.

This belief fuels the company’s passion to continuously give back to the society through our Megaworld Foundation.”

From my research, I learned that Dr. Tan was born in Fujian, China in 1952 but I never found out the exact date of his birth. But maybe he does not need one. God has blessed our country for giving us Dr. Tan who has immensely contributed to the financial well-being of our countless countrymen and the economic uplift of the Philippines. He is a gift to the Filipinos and everyday is a celebration of his remarkable life and extraordinary achievements.

Plenty of pitfalls await Zuckerberg’s ‘metaverse’ plan

By Matt O’brien & Barbara Ortutay | AP Technology Writers

W

hen Mark Zuckerberg announced ambitious plans to build the “metaverse”—a virtual reality construct intended to supplant the Internet, merge virtual life with real life and create endless new playgrounds for everyone—he promised that “you’re going to able to do almost anything you can imagine.”

That might not be such a great idea.

Zuckerberg, CEO of the company formerly known as Facebook, even renamed it Meta to underscore the significance of the effort. During his late October presentation, he effused about going to virtual concerts with your friends, fencing with holograms of Olympic athletes and—best of all—joining mixed-reality business meetings where some participants are physically present while others beam in from the metaverse as cartoony avatars.

But it’s just as easy to imagine dystopian downsides. Suppose the metaverse also enables a vastly larger, yet more personal version of the harassment and hate that Facebook has been slow to deal with on today’s Internet? Or ends up with the same big tech companies that have tried to control the current Internet serving as gatekeepers to its virtual-reality edition? Or evolves into a vast collection of virtual gated communities where every visitor is constantly monitored, analyzed and barraged with advertisements? Or foregoes any attempt to curtail user freedom, allowing scammers, human traffickers and cybergangs to commit crimes with impunity?

Picture an online troll campaign—but one in which the barrage of nasty words you might see on social media is instead a group of angry avatars yelling at you, with your only escape being to switch off the machine, said Amie Stepanovich, executive director of Silicon Flatirons at the University of Colorado.

“We approach that differently— having somebody scream at us than having somebody type at us,” she said. “There is a potential for that

harm to be really ramped up.”

That’s one reason Meta might not be the best institution to lead us into the metaverse, said Philip Rosedale, founder of the virtual escape Second Life, which was an Internet craze 15 years ago and still attracts hundreds of thousands of online inhabitants.

The danger is creating online public spaces that appeal only to a “polarized, homogenous group of people,” said Rosedale, describing Meta’s flagship VR product, Horizon, as filled with “presumptively male participants” and a bullying tone. In a safety tutorial, Meta has advised Horizon users to treat fellow avatars kindly and offers tips for blocking, muting or reporting those who don’t, but Rosedale said it’s going to take more than a “schoolyard monitor” approach to avoid a situation that rewards the loudest shouters.

“Nobody’s going to come to that party, thank goodness,” he said.

“We’re not going to move the human creative engine into that sphere.”

A better goal, he said, would be to create systems that are welcoming and flexible enough to allow people who don’t know each other to get along as well as they might in a real place like New York’s Central Park. Part of that could rely on systems that help someone build a good reputation and network of trusted acquaintances they can carry across different worlds, he said. In the current web environment, such reputation systems have had a mixed record in curbing toxic behavior.

It’s not clear how long it will take Meta, or anyone else investing in the metaverse, to consider such issues.

So far, tech giants from Microsoft and Apple to video game makers are

still largely focused on debating the metaverse’s plumbing.

To make the metaverse work, some developers say they are going to have to form a set of industry standards similar to those that coalesced around HTML, the open “markup language” that’s been used to structure websites since the 1990s.

“You don’t think about that when you go to a website. You just click on the link,” said Richard Kerris, who leads the Omniverse platform for graphics chipmaker Nvidia. “We’re going to get to the same point in the metaverse where going from one world to another world and experiencing things, you won’t have to think about, ‘Do I have the right setup?’”

Nvidia’s vision for an open standard involves a structure for 3D worlds built by movie-making studio Pixar, which is also used by Apple.

Among the basic questions being resolved is how physics will work in the metaverse—will virtual gravity cause someone’s glass to smash into pieces if they drop it? Will those rules change as you move from place to place?

Bigger disagreements will center on questions of privacy and identity, said Timoni West, vice president of augmented and virtual reality at Unity Technologies, which builds an engine for video game worlds.

“Being able to share some things but not share other things” is important when you’re showing off art in a virtual home but don’t want to share the details of your calendar, she said. “There’s a whole set of permission layers for digital spaces that the Internet could avoid but you really need to have to make this whole thing work.”

Some metaverse enthusiasts who’ve been working on the concept for years welcome the spotlight that could attract curious newcomers, but they also want to make sure Meta doesn’t ruin their vision for how this new Internet gets built.

“The open metaverse is created and owned by all of us,” said Ryan

Gill, founder and CEO of metaversefocused startup Crucible. “The metaverse that Mark Zuckerberg and his company want is created by everybody but owned by them.”

Gill said Meta’s big splash is a reaction to ideas circulating in grassroots developer communities centered on “decentralized” technologies like blockchain and non-fungible tokens, or NFTs, that can help people establish and protect their online identity and credentials.

Central to this tech movement, nicknamed Web 3, for a third wave of Internet innovation, is that what people create in these online communities belongs to them, a shift away from the Big Tech model of “accumulating energy and attention and optimizing it for buying behavior,” Gill said.

Evan Greer, an activist with Fight for the Future, said it’s easy to see Facebook’s Meta announcement as a cynical attempt to distance itself from all the scandals the company is facing. But she says Meta’s push is actually even scarier.

“This is Mark Zuckerberg revealing his end game, which is not just to dominate the Internet of today but to control and define the Internet that we leave to our children and our children’s children,” she said.

The company recently abandoned its use of facial recognition on its Facebook app, but metaverse gadgetry relies on new forms of tracking people’s gaits, body movements and expressions to animate their avatars with real-world emotions. And with both Facebook and Microsoft pitching metaverse apps as important work tools, there’s a potential for even more invasive workplace monitoring and exhaustion.

Activists are calling for the US to pass a national digital privacy act that would apply not just to today’s platforms like Facebook but also those that might exist in the metaverse. Outside of a few such laws in states such as California and Illinois, though, actual online privacy laws remain rare in the US.

A12 Tuesday, November 9, 2021

REGION’S CENTRAL BANKS VOW GREEN BOND INVESTMENT PUSH

C

ENTRAL banks in the region vowed to continue promoting green bond investments across the Association of Southeast Asian Nations (ASEAN) through the Asean Bond Fund.

In a statement on Monday, the Executives’ Meeting of East AsiaPacific Central Banks (Emeap) said their project for green bond investments has been finalized.

Earlier this year, the Emeap ABF Oversight Committee had requested IHS Markit, the index administrator of the iBoxx ABF Index, to review the rules of the Index to promote the inclusion of green bonds.

On Monday, Emeap said the review has been completed and IHS Markit has decided to make adjustments to the index.

The adjustments include setting the definition of green bonds, setting a lower minimum outstanding notional threshold for subsovereign green bonds issued in different markets, and changing the subsovereign issuer limit to 10 percent per issuer in each single market index, from the current

limit of 5 bonds per issuer.

The new rules will take effect from the index rebalance date of 31 March 2022.

“The Emeap believes this initiative will help catalyze further deepening of local currency-denominated bond markets, in particular green bond markets in the region. The Emeap will continue to explore ways to further contribute to the development of the local currency denominated bond market,” Emeap said in a statement.

The Bangko Sentral ng Pilipinas (BSP) earlier said its investment on green financing could double in the next two years, its chief said in a virtual press briefing on Thursday.

The BSP governor said they remain committed to expanding their reach in sustainable financing in the country, both by increasing awareness and potentially upping their own investments to so-called “green bonds”.

At present, the BSP has a total of $550 million worth of investments in the Bank for International Settlements’ green bond fund.

Bianca Cuaresma

‘2022 polls: A fight vs fake news and populism’ F ILIPINO voters need to actively fight disinformation and populism so they could make enlightened choices in next year’s high-stakes elections. A virtual town hall discussion organized by think tank Stratbase ADR Institute revealed this fact.

These enlightened choices would exhibit the qualities desired by Filipinos and address gut issues hounding us during this extraordinary time.

“Filipinos want leaders who will provide jobs, keep the prices of basic commodities low, eradicate graft and corruption, increase wages and reduce poverty,” said Professor Dindo Manhit, Stratbase President.

“We have commissioned two separate surveys at different times with a different group of respondents, and they basically told us the same thing.”

According to a PULSE Asia survey, the top three qualities people want in their leaders are “concern for the poor,” “not corrupt,” and “trustworthy and honest.”

However, he said, “false information paralyzes people’s critical ability to choose leaders,” and added that there should be a multistakeholder effort to collectively expose and denounce trolls and disinformation machineries.

Commission on Elections spokesman James Jimenez cited the better-than-expected registration numbers as an indication that Filipinos are eager to participate in the electoral exercise.

“We are closer to 63 million registered voters when our initial projections were at 59 million. As for the extension, we were expecting 300,000 to 350,000 new registrants but now we already have 400,000,” he said.

“The hits just keep on coming.

This is incredible considering that this is a pandemic.”

The poll body is now also overseeing the refurbishment of the vote counting machines and hardware acceptance testing.

Henry Aguda, a trustee of the Parish Pastoral Council on Responsible Voting, gave practical input about how the VCMs worked, what the public should expect while using them, and even what to do when the machines malfunction on election day.

Lawyer Ona Caritos, Executive Director of the Legal Network for Truthful Elections (LENTE), highlighted the need to use videos in voter education, using the information that nearly all internet-using Filipinos watch videos and vlogs.

For those voters without reliable internet access, local radio channels remain the best way to communicate.

Caritos suggested that aside from the usual voter education topics, there should also be discussions on campaign finances and governance, political dynasties, misinformation and disinformation, and voting safely despite an ongoing pandemic.

“Various groups need to conduct education activities on new protocols and guidelines so that these do not disenfranchise Filipinos,” she said.

Other speakers in the virtual discussion called Democracy Goes On included Dr. Ador Torneo, director of the La Salle Institute of Governance and Full Professor of Political Science and Development Studies at DLSU, Mardi Mapa-Suplido, chairperson of InciteGOV, University of the Philippines Professor Danilo Arao, convenor of Kontra Daya, Atty.

Mildred Ople, Program Officer for Youth Leadership for Democracy (YouthLed), and Paco Pangalangan Stratbase ADRi Executive Director and Convenor of Democracy Watch.

Torneo said the success of the elections will depend on the Covid-19 situation, the IATF policies, the vaccination progress, the adequacy of Comelec’s preparations, and the stakeholders’ response to all these.

Mapa-Suplido said the result of the study on the negative effects of political dynasties and populist governments, and the role of the perception of family in the way Filipinos choose their leaders.

Arao said online media will be more influential now because of the pandemic situation, and that Filipinos get their information increasingly through smartphones—and less through computers or laptops.

Meanwhile, Ople cited the power of the youth vote as shown in the high turnout for first-time registrants: To choose deserving leaders, to prevent the election of abusive politicians, and to design the kind of government we deserve.

Pangalangan called on all stakeholders—civil society, the private sector, the academe, the media, who all have their different roles to play—to be vigilant as the election season approaches.

“The end is near for populism,” said Manhit. “We need to stand up as a whole society to collectively ensure legitimate results. An election that is rooted with the key values and priorities at the heart of every voter.”

Peza investment approvals in Jan-Sept decline by 25%

T

By Tyrone Jasper C. Piad @Tyronepiad

HE Philippine Economic Zone Authority (Peza) registered a decline of about one-fourth of its investment pledges in the first nine months amid the pandemic.

In a virtual event on Monday, Peza Director General Charito Plaza reported that the investment promotion agency booked P51.202 billion worth of investments in January to September, which is lower than it registered in the same period last year at P68.491 billion.

“The good news is that Peza has remained versatile and proactive in strengthening new and existing in-

vestment partnership even during the pandemic,” she said.

Japanese investors account for the majority of the investments with 27.8 percent. In terms of sectors, the electronics and semiconductors industry dominated the contribution with 34.71 percent.

In the nine-month period, Plaza said that Peza’s export revenues reached $40.67 billion.

The Peza official said there are currently 415 economic zones under its regulation, with 4,665 company locators.

The ecozone locators directly employ 1.6 million workers. Plaza noted that six indirect jobs are generated for every one direct job.

As of September data, 90 percent of the companies in the ecozones remain operational.

These include those employing skeletal workforce and work-fromhome arrangements.

Broken down into specific sectors, 84 percent and 95 percent of the information technology-business process management (IT-BPM) and manufacturing industries, respectively, are operating.

Plaza said the regulator of ecozones has renewed its call to reconsider the implementation of work-from-home (WFH) threshold on the basis of gross revenues for the IT-BPM sector instead of number of workforce on-site.

In a earlier interview with the BusinessMirror, the director general said they notified the Fiscal Incentives Review Board (FIRB) about this request last month.

The PEZA proposal, which seeks to base the threshold on gross rev-

enues, means the locators will be allowed to have 100-percent WFH arrangement for the workforce but it also means that only 90 percent of the revenues of the activity will be subject to incentives. Plaza said the proposal is also for the interim while the national state of calamity is in effect.

Its proposal was, however, denied.

The FIRB has approved the extension until March 31, 2022, of WFH arrangements for up to 90 percent of employees in the IT-BPM sector.

Meanwhile, Plaza is also awaiting the lifting of the moratorium on building new ecozones in Metro Manila to spur more developments.

The BusinessMirror earlier reported that around P16.07 billion worth of investment for information technology (IT) parks and IT centers as of April 30 in the National Capital Region (NCR) have remained pending this year amid the moratorium on processing new economic zones in the capital region.

Currently, 167 IT parks and centers are located in NCR, most of which are in Makati, Quezon City and Pasig.

THE Metropolitan Manila Development Authority (MMDA) headed by Chairman Benhur Abalos inspected on Monday the desilting operations at the mouth of Parañaque River as part of the agency's flood control measures. The “island” is mostly of garbage and silt, where a few shanties are starting to be constructed. Residents claimed, however, these are just resting placses for fishermen in the area. NONIE REYES

DTI: 100,000 employees from restricted sectors return to work in NCR

By Samuel P. Medenilla

A

@sam_medenilla

T least 100,000 employees from restricted industries returned to work after the lowering of the Alert Level in Metro Manila last week, according to the Department of Trade and Industry (DTI).

Trade Secretary Ramon Lopez said they were among the 1.8 million workers who were displaced, when the government placed the National Capital Region (NCR) under Modified Enhanced Community Quarantine (MECQ) last August.

Most of the affected employees

resumed their duties after the government started to pilot the Alert Level System (ALS) in the region in September.

Upon the launch of the ALS in NCR, it was initially placed under Alert Level 4, before it was downgraded to 3 on October 16, 2021 due to slowing down in the increase in Covid-19 cases in the region.

On November 5, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) decided to further lower the Alert Level in NCR to 2, the second lowest classification.

“Because of the lower alert level, we estimate more or less 100,000

were able to return to work,” Lopez said in a virtual press briefing on Monday.

He said the lower alert level was welcomed by many establishments in the entertainment, tourism, and wellness industries since it will allow them to increase their venue capacities.

“They will have a better Christmas this year compared to last year.

So we hope there will no longer be any surge [in Covid-19 cases]. That is why it is important even for establishments to make sure their clients comply with minimum public health protocol,” Lopez said.

The Department of Labor and

Employment (DOLE) is also hopeful the Alert Level 2 in NCR will help provide employment to the 600,000 additional unemployed workers in the September round of the Labor Force Survey (LFS) of the Philippine Statistics Authority (PSA).

DOLE spokesperson Rolly Francia said the latest development will translate to a more “vibrant” Christmas celebration for more workers based in the region.

“Once we enter the new quarter of next year, more workers will be able to return to work and our economy will be more lively,” Francia said in a separate online briefing.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, November 9, 2021

B1

SMC willing to sell Petron back to govt

A

By Jovee Marie N. Dela Cruz @joveemarie & Lenie Lectura @llectura

mid calls on the national government to buy back Petron to tame oil prices, San Miguel Corp. (SMC) President Ramon S. Ang on Monday told lawmakers that he is willing to sell the oil company back to the government.

During the briefing of the House Committee on Ways and Means on proposals suspending or reducing the excise tax on fuel products, Ang, who is also the president of Petron, said he could sell the company to the government immediately and allow the

state to pay for it on a staggered basis.

“Anytime, I could sell [Petron back] to the government. They can pay for it for five years. If they want to buy it, I swear, I am ready to sell it immediately,” he told lawmakers.

Ang said the government could

Kia PHL keen on building charging stations for EVs

By Tyrone Jasper C. Piad @TyronePiad

K

ia Philippines is open to building its own charging stations as it has set its sights on introducing electric vehicles (EV) in the country.

Company president Manny Aligada said in a virtual briefing on Monday that the Ayala Group—the car dealer’s parent company—has the capability to build charging stations that can meet the specifications of their EVs. “We look at AC Industrials and the capabilities as an advantage that we have,” he said.

“If that [charging station] is the requirement, then we will work with our other companies within the AC Industrials to help us develop that,” he said. “If they are the ones that would be best fit to provide us the solution for the required ecosystem, then we will do so.”

Aligada said the EVs require an infrastructure or ecosystem to support their operations in the country.

As such, he said the introduction

of EV models in the country will depend on the development of the supporting infrastructure.

Still, he said Kia is “looking probably at some level of development next year.”

Recently, the South Korean car manufacturer introduced EV6, the first battery-operated EV build from its EV platform.

“Kia’s new brand strategy is rooted from our dedication to diversify our business to offer eco-friendly mobility services, centered on electric and autonomous driving across major global cities. We will also promote more sustainable production routes through the usage of clean energy and recyclable materials,” Kia Asia Pacific President Ted Lee said.

Meanwhile, Kia will introduce two models this year: All New Sorento and Stonic Style Edition.

The new Sorento model will have EX and SX variants. Kia has sold 2.5 million units of Sorento cars since 2002.

Stonic, meanwhile, is a subcompact sport utility vehicle that aims to cater to millennials.

pay for Petron at market valuation in the next five years without a premium.

“If you think that’s [Petron] a jackpot business, then let the government buy it at market valuation and no need to add premium,” said Ang. He said Petron, a subsidiary of SMC, incurred a net loss of P11.4 billion in 2020 after sales suffered from a slump in demand, poor refining margins and a collapse in global prices.

Petron recorded a net income of P3.87 billion in the first half, a turnaround from the P14.24-billion net loss it suffered in the same period last year due to the pandemic.

House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate said his party list has been fil-

ing a bill to buy back Petron and other bills to regulate the oil industry and control petroleum prices since the 15th Congress.

“Now it is House Bill 4711 or the Renationalize Petron bill. As it is, Petron Corp., which used to be stateowned and controlled, is currently the largest and the only publicly listed oil refining and marketing company in the Philippines and it would have a significant effect in mitigating oil price hikes,” said Zarate.

If enacted, he said the specific policy objectives of Petron shall include, but shall not be limited to, the following: n To adopt a pricing policy that shall keep the prices of crude oil and petroleum products, sold in wholesale or retail to local consumers, as

socially and economically viable as possible and as allowed by the fulfillment of the objectives of the bill; n To control cartel and monopoly pricing, and thus check unreasonably high prices; and n To raise and promote the local capacity for exploration, refining and exploitation, processing, and development of petroleum.

‘Welcome news’

Bayan Muna Rep. Ferdinand Gaite said the offer of Ang to sell Petron back to the government is “welcome news” and that the current administration or even the next one should take up the offer so that government can have a say in controlling oil prices.

“In fact our House Bill specifically calls for the full renationalization of

Petron in a span of 4-5 years so that we can have a midterm to long term deterrent to runaway oil price hikes,” said Gaite. “Indeed, there is a pressing need for government to regulate and intervene in the oil industry to protect the majority of Filipinos from runaway increases in oil prices.”

“But due to the control of monopolistic, transnational corporations, regulation can only be effective and truly beneficial if it is part of a program to institutionalize national oil industrialization, so that local oil prices can be brought down from the unreasonable and unjustifiable levels set by giant transnational oil corporations and can be prevented from falling prey to further monopoly pricing and manipulation.”

B2

Companies BusinessMirror

Tuesday, November 9, 2021

SM Prime income up 9%, but malls still struggling

S

By VG Cabuag

@villygc

hopping mall operator SM Prime Holdings Inc. on Monday said its income in January to September rose 9 percent to P15.6 billion from last year’s P14.4 billion, mainly as a result of strong sales posted by its residential business.

Revenues fell 6 percent to P56.8 billion from last year’s P60.7 billion, as its shopping mall business remained weak.

“SM Prime continues to develop new ways and solutions in its businesses by developing sustainable programs that provide safe and secure environment for

all of its stakeholders. This is in line with our anticipation of welcoming more people in our establishments, primarily in our malls and other commercial facilities, where thousands of our partner-tenants can showcase their products and services this coming holiday season,” Jeffrey

C. Lim, the company’s president, said.

SM Prime’s residential business, led by its condominium builder SM Development Corp.

(SMDC), still accounts for more than half of SM Prime’s revenues at 56 percent. Consolidated revenues, however, were 6 percent lower to P32.1 billion, from last year’s P34.2 billion.

SM D C ’s rese r v at ion s a les reached P76.3 billion for the three quarters of the year, some 14 percent higher than the P66.7 billion it recorded last year. The strengthened online presence and continuous construction of SMDC projects boost its sales take up for the period, the company said.

SM Prime’s Philippine mall business, which now accounts for only 28 percent of the company’s consolidated revenues, recorded P15.8 billion in revenue for the

period, 14 percent lower from last year’s P18.3 billion.

T he re i mp l e me nt at io n o f stricter community quarantine in August 2021 affected the operation of the company’s local mall business, limiting the operation of non-essential shops in accordance with government-imposed guidelines, the company said.

Meanwhile, SM Prime’s China mall business has reported a 28-percent increase in revenue to 590 million yuan for the period from 460 million yuan last year.

SM Prime’s commercial properties business reported P3.8 billion in revenues for the period, almost flat from last year’s P3.7 billion.

T he compa ny ’s hotels a nd convention centers business segment registered P900 million in revenues for the period, down by some 30 percent from last year’s P1.3 billion.

Aboitiz unit energizes Cebu substation mutual funds V isayan Electric Company Inc. (Visayan Electric), a subsidiary of Aboitiz Power Corp., has energized its P102-million digital substation in Mandaue City, Cebu.

The rehabilitation of Visayan Electric’s Pakna-an substation along the Cebu North Road in Mandaue City was supposed to be completed in 2020 but was pushed back due to challenges brought about by the global health crisis.

“We continue to provide reliable power and quality service to our customers, and we were determined to complete this project despite the challenges posed by the Covid-19 pandemic. Innovating our substations by making them fully digital is a big step toward further improving our network control and reliability,” said Visayan Electric President and COO Raul Lucero said.

Visayan Electric spent P102 million for this project, of which P29 million went into the protection and control systems adopting the IEC 61850, an internationa l transmission protocol standard for communication in medium- and high-voltage electric substations. This standard provides enhanced interoperability and advanced communications capabilities in substation protection, coordination, control, monitoring, metering, and testing.

“We look forward to rehabilitating our other substations in Lorega and Pardo [Cebu City] in the coming years as well, thereby

improving the integrity of our network, which in turn results in better service for our customers.”

A substation plays an important role within a power distribution system, converting high voltage transmission electricity to safe and efficient lower voltage electricity for homes and businesses. The digital conversion of this substation boosts the efficiency, reliability, and availability of power supply through real-time control and protection operations. In a digital substation, processing of all information is in digital format, which makes computing faster.

T h e Pa k n a - a n f a c i l it y i s equipped with a system that facilitates online monitoring and assessment, leading to the early detection of technical problems where swift action can then be taken.

The digital transformation of Visayan Electric’s assets leads to the reduction, shortening, and even prevention of power outages and their impact on the community. Apart from these, having digital operations minimizes the need to physically check the status of the substation as well as manual labor when restoring power, which is vital especially during this period.

This milestone marks a step forward in Aboitiz Power’s digital transformation journey under its DigitaLeap program, wherein the digitalization of its assets is at the core of the company’s strategy. Lenie Lectura

November 8, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D

Return

Stock Funds ALFM Growth Fund, Inc. -a

233.24

8.61%

-0.95%

-1.53%

ATRAM Alpha Opportunity Fund, Inc. -a

1.7004

49.89%

7.36%

4.25%

29.5%

10.96%

-4.26%

-4.23%

4.03% -6.87%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2593 Climbs Share Capital Equity Investment Fund Corp. -a 0.757

2.66%

1.53%

-3.95% n.a.

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7996 11.26%

0.62% n.a.

7.82%

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

13.22%

2.07%

0.45%

6.02%

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

0.7862

8.47%

-0.08%

MBG Equity Investment Fund, Inc. -a

100.01

13.08%

PAMI Equity Index Fund, Inc. -a

48.1977

10.3%

1.21%

0.06%

Philam Strategic Growth Fund, Inc. -a

501.14

8.46%

1.05%

-0.6%

2.5%

Philequity Alpha One Fund, Inc. -a,d

1.1786

17.84% n.a. n.a.

7.41%

Philequity Dividend Yield Fund, Inc. -a

1.3065

19.84%

2.93%

1.35%

Philequity Fund, Inc. -a

36.583

13.31%

1.59%

0.89%

5.21%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9443

10.2% n.a. n.a.

3.43% 3.62%

5.2388

-2.84% n.a.

-3.31% 1.26% -1.82% 2.9%

11.84%

Philequity PSE Index Fund Inc. -a

4.9647

11.2%

2.02%

0.8%

Philippine Stock Index Fund Corp. -a

829.02

11.01%

2.03%

0.75%

3.42%

Soldivo Strategic Growth Fund, Inc. -a

0.7622

13.39%

-2.21%

-2.3%

6.02%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7743

11.41%

-0.84%

-0.8%

4.15%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9457 10.57%

1.66%

0.53%

3.05%

United Fund, Inc. -a

1.44%

1.35%

4.41%

2.23%

1.25% 3.66%

3.4649

12.12%

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

111.4862

11.13%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.1641

4.09%

6.96%

5.94%

-3.23%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8795

21.65%

15.85%

13.21%

12.36%

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

1.6992

6.75%

1.95%

-0.22%

1.83%

ATRAM Philippine Balanced Fund, Inc. -a

2.2659

5.13%

1.89%

-0.06%

-0.85%

First Metro Save and Learn Balanced Fund Inc. -a 2.716

7.76%

3.73%

1.67%

3.39%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2018

5.65% n.a. n.a. 1.87%

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

2.0164

5.59%

4.11%

1.96%

2.51%

PAMI Horizon Fund, Inc. -a

3.7685

3.41%

3.72%

0.7%

-0.57%

Philam Fund, Inc. -a

16.8769

3.47%

3.49%

0.69%

-0.37%

Solidaritas Fund, Inc. -a

2.123

5.31%

1.96%

0.73%

1.53%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6534 6.64%

1.19%

0.17%

2.24%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9926

1.07% n.a. n.a.

-2.93%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9459

5.35% n.a. n.a.

-0.35%

6.57% n.a. n.a.

0.44%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9372 Sun Life Prosperity Dynamic Fund, Inc. -a

0.9455

12.39%

1.77%

0.32%

6.51%

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

$0.03788

-3.24%

3.01%

1.22%

-3.12%

PAMI Asia Balanced Fund, Inc. -b

$1.072

0.24%

4.34%

3.3%

-5.13%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.8611 15.51%

11.44%

9.23%

7.72%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2274 6.58%

6.42%

4.83%

2.1%

0.46%

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

372.84

1.08%

2.94%

2.51%

ATRAM Corporate Bond Fund, Inc. -a

1.9225

1.49%

1.33%

0.14%

1.17%

Cocolife Fixed Income Fund, Inc. -a

3.2424

1.12%

3.18%

4.06%

0.84%

Ekklesia Mutual Fund Inc. -a

2.2428

-1.93%

1.87%

1.36%

-2.41%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4192 -1.01%

3.01%

1.7%

-1.39%

Philam Bond Fund, Inc. -a

4.3958

-4.72%

4.94%

1.39%

-5.06%

Philam Managed Income Fund, Inc. -a

1.3155

0.23%

3.85%

2.58%

-0.44%

Philequity Peso Bond Fund, Inc. -a

3.9565

-0.16%

4.54%

2.57%

-1.11%

Soldivo Bond Fund, Inc. -a

1.0212

-1.32%

5.29%

1.84%

-2.14%

0.32%

5.18%

3.08%

-0.66%

-0.72%

4.33%

2.35%

-1.62%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.185 Sun Life Prosperity GS Fund, Inc. -a

1.7266

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

$488.51

1.62%

3.06%

2.22%

0.93%

ALFM Euro Bond Fund, Inc. -a

Є219.97

0.96%

1.06%

0.81%

0.34%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2008

-3.75%

2.31%

1.41%

-6.17%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -1.89%

1.59%

0.87%

-2.26%

PAMI Global Bond Fund, Inc -b

$1.021

-6.2%

0.03%

-1.36%

-6.33%

Philam Dollar Bond Fund, Inc. -a

$2.4937

-1.08%

5.4%

2.15%

-1.82%

Philequity Dollar Income Fund Inc. -a

$0.0624578

0.87%

3.17%

1.95%

0.25%

-1.8%

3.28%

1.06%

-1.82%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.165

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

2.55%

0.83%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0564 0.97% n.a. n.a.

130.9

1.14%

0.79%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3126

1.21%

1.52%

2.89% 2.67%

2.54%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0598

0.85%

1.51% n.a.

0.59%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3737

32.79% n.a. n.a. 21.61%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.98

3.16% n.a. n.a.

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

November 8, 2021

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 PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG FILIPINO FUND IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

44 132.9 94.95 24.7 9.8 50.3 8.71 17.74 20.7 57.6 99.3 20.55 125.9 90.05 1.66 3.98 3.35 6.52 1.09 0.31 901.5 0.65 220 2,712 0.85

45 133 95 24.75 9.98 50.5 9 18.48 20.75 57.75 109 20.95 126.5 90.95 1.69 3.99 3.49 7.8 1.1 0.315 - 0.66 224.8 2,808 0.88

45 129.5 93.4 24.5 9.45 49.3 8.71 18.48 20.9 57.6 108 21.5 124 90 1.7 4 3.25 6.52 1.09 0.315 975 0.64 219 2,810 0.85

45 133.2 94.95 24.75 9.98 51 9 18.48 20.9 57.75 109 21.9 126.8 92 1.7 4 3.49 6.52 1.1 0.315 975 0.65 224.8 2,810 0.85

45 129.3 92.9 24.45 9.45 49.3 8.7 18.48 20.5 57.6 108 20.95 123.4 89.7 1.65 3.99 3.25 6.52 1.09 0.315 975 0.64 219 2,810 0.85

45 133 94.95 24.7 9.98 50.3 9 18.48 20.7 57.75 109 20.95 126.5 90.05 1.69 3.99 3.49 6.52 1.1 0.315 975 0.64 224.8 2,810 0.85

1,200 2,123,650 2,320,780 237,100 907,000 5,222,700 4,500 300 293,800 1,210 1,560 259,400 1,028,330 384,900 311,000 130,000 2,000 600 40,000 120,000 90 140,000 440 15 1,000

54,000 281,507,544 219,335,540 5,847,695 8,848,896 263,347,115 39,800 5,544 6,067,680 69,804 169,240 5,474,265 129,484,676 34,606,513 517,630 519,230 6,740 3,912 43,900 37,800 87,750 90,100 98,332 42,150 850

18,000 83,939,165 124,259,758.50 -425,730 4,974,489 -35,290,745 -1,581,950.00 21,600 30,626,658 678,484.50 -36,010 -19,652 -

INDUSTRIAL AC ENERGY 12.14 12.16 12.3 12.3 12.14 12.14 16,403,700 200,265,826 ALSONS CONS 1.12 1.15 1.14 1.21 1.11 1.17 468,000 536,030 ABOITIZ POWER 32.7 32.9 32.85 33.1 32.7 32.7 2,601,600 85,519,620 BASIC ENERGY 0.68 0.69 0.7 0.71 0.67 0.68 14,449,000 9,874,230 FIRST GEN 31.5 31.6 31.9 31.9 31.2 31.6 2,600,100 82,408,515 FIRST PHIL HLDG 75.4 75.45 75.5 76 75.3 75.45 32,700 2,468,928.50 MERALCO 298 299 295 299 294.6 299 110,570 32,965,552 MANILA WATER 24.05 24.2 25 25 23.2 24.05 5,217,500 125,194,475 PETRON 3.83 3.84 3.82 3.95 3.81 3.83 4,278,000 16,454,700 PETROENERGY 4.3 4.41 4.41 4.41 4.3 4.3 50,000 218,730 PHX PETROLEUM 11.12 11.5 11.3 11.5 11.1 11.5 21,700 248,930 PILIPINAS SHELL 22.25 22.35 22.5 22.5 22 22.25 118,500 2,642,910 SPC POWER 13.68 13.7 13.68 13.7 13.66 13.68 91,400 1,249,586 AGRINURTURE 4.79 4.96 4.97 5.09 4.78 4.96 527,000 2,557,030 AXELUM 2.74 2.78 2.77 2.78 2.7 2.78 529,000 1,458,130 CNTRL AZUCARERA 14 14.2 14 14 14 14 100 1,400 CENTURY FOOD 27.7 27.75 27.75 27.8 27.5 27.75 1,748,900 48,448,970 DEL MONTE 14.7 14.78 14.7 14.98 14.7 14.78 40,100 591,774 DNL INDUS 8.4 8.41 8.49 8.5 8.4 8.4 907,100 7,682,949 EMPERADOR 18.02 18.2 18.3 18.34 18.02 18.02 3,664,800 66,875,466 SMC FOODANDBEV 75.15 75.45 75.25 75.8 75.1 75.15 233,820 17,627,361.50 ALLIANCE SELECT 0.6 0.61 0.59 0.61 0.59 0.61 51,000 30,110 FRUITAS HLDG 1.33 1.35 1.35 1.35 1.33 1.35 4,179,000 5,607,170 GINEBRA 102.8 103.5 103.4 105 102.8 102.8 14,910 1,547,064 JOLLIBEE 248.4 248.6 244 248.8 243.8 248.6 701,860 173,740,286 LIBERTY FLOUR 28.3 29 29 29 28.25 28.25 7,300 206,480 MACAY HLDG 6.3 6.5 6.3 6.3 6.3 6.3 1,000 6,300 MAXS GROUP 7.39 7.4 7.34 7.4 7.2 7.4 215,200 1,578,935 MG HLDG 0.18 0.185 0.187 0.187 0.18 0.185 710,000 129,250 MONDE NISSIN 16.4 16.42 16.36 16.48 16.36 16.42 12,181,300 199,918,468 SHAKEYS PIZZA 8.33 8.4 8.11 8.4 8.11 8.4 133,200 1,111,132 ROXAS AND CO 0.72 0.73 0.74 0.75 0.72 0.73 721,000 526,370 RFM CORP 4.66 4.7 4.7 4.7 4.7 4.7 5,000 23,500 ROXAS HLDG 1.25 1.29 1.25 1.25 1.25 1.25 12,000 15,000 SWIFT FOODS 0.114 0.116 0.117 0.117 0.113 0.114 2,560,000 293,310 UNIV ROBINA 133.2 133.3 133.7 134.5 132.8 133.3 1,762,430 235,128,163 VITARICH 0.76 0.77 0.76 0.77 0.76 0.76 776,000 592,950 CONCRETE A 50.5 51 50.5 52 50.5 52 320 16,595 CONCRETE B 50.5 58 58 58 58 58 10 580 CEMEX HLDG 1.21 1.22 1.23 1.24 1.22 1.22 2,265,000 2,772,320 EAGLE CEMENT 14.3 14.32 14.3 14.32 14.26 14.3 159,800 2,284,542 EEI CORP 6.56 6.58 6.6 6.69 6.55 6.58 186,800 1,229,655 HOLCIM 5.87 5.88 5.88 5.9 5.88 5.88 497,700 2,929,820 MEGAWIDE 6.2 6.21 6.14 6.21 6.12 6.2 953,500 5,893,304 PHINMA 14.62 15 14.98 15 14.6 15 45,700 680,932 TKC METALS 0.85 0.87 0.85 0.87 0.85 0.87 88,000 74,900 VULCAN INDL 1.16 1.17 1.16 1.17 1.14 1.16 1,672,000 1,932,070 CROWN ASIA 1.69 1.7 1.71 1.71 1.66 1.69 28,000 47,210 EUROMED 1.55 1.59 1.6 1.6 1.53 1.55 96,000 148,350 MABUHAY VINYL 4.01 4.2 4.05 4.25 4 4.25 12,000 48,630 PRYCE CORP 5.5 5.6 5.5 5.6 5.5 5.6 244,200 1,363,579 CONCEPCION 21.85 22.8 21.7 22.8 21.65 22.75 36,500 800,105 GREENERGY 2.5 2.51 2.44 2.54 2.43 2.51 10,839,000 27,000,760 INTEGRATED MICR 8.26 8.29 8.07 8.4 8.07 8.29 482,800 4,003,927 IONICS 0.8 0.81 0.81 0.83 0.8 0.81 285,000 230,990 PANASONIC 6 6.02 6.03 6.04 6.03 6.03 14,200 85,664 SFA SEMICON 1.06 1.07 1.09 1.1 1.05 1.06 447,000 477,080 CIRTEK HLDG 4.31 4.32 4.38 4.38 4.31 4.31 1,804,000 7,813,910

5,986,742 4,104,405 -44,620 50,055,180 -150,441 20,337,288 -49,327,985 50,820 88,200 -606,150 -211,740 -1,432,530 22,030 -28,696,590 15,272 -460,275 -334,012 -8,769,630 -508,060 82,250,210 1,734 -10,310,438 237,830 -105,120 -55,950,033 -76,830 176,660 22,372 -924,263 1,418,581 14,820 704,810.00 36,950 12,880 -585,950 7,201,710 172,679 39,610 225,160

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MJC INVESTMENTS METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

1.21 5.5 900 51.45 10.96 5.82 7.4 0.91 0.49 0.46 5.2 7.65 7.8 2.5 0.29 598 3.85 61.1 5.3 6 0.65 3.12 10.6 1.2 3.95 3.1 1.57 1.15 974.5 121 2.05 130 0.25 0.18

1.22 5.89 900.5 51.5 11 5.83 7.5 0.92 0.51 0.57 5.22 7.67 8 2.84 0.305 599 3.9 61.2 5.35 6.2 0.67 3.19 10.66 1.25 3.99 3.19 1.6 1.2 975 121.1 2.45 132 0.265 0.187

1.17 5.9 891 51.45 10.86 5.95 7.12 0.92 0.475 0.49 5.24 7.84 8 2.63 0.29 590.5 3.8 60.75 5.5 6 0.66 3.12 10.8 1.1 3.92 3.11 1.56 1.15 998 119.5 2.03 130 0.255 0.188

1.24 5.9 907 51.6 11.2 6.03 7.5 0.92 0.51 0.49 5.29 7.84 8 2.63 0.3 605 3.9 62.1 5.5 6 0.69 3.12 10.88 1.2 4.06 3.12 1.6 1.2 998 122 2.03 130 0.265 0.188

1.14 5.4 891 51.25 10.82 5.74 7.12 0.91 0.475 0.49 5.2 7.62 7.77 2.6 0.29 590.5 3.8 60.75 5.3 6 0.65 3.12 10.54 1.1 3.9 3.11 1.56 1.15 973 119.5 2.02 130 0.25 0.187

1.21 5.4 900 51.45 10.96 5.83 7.5 0.91 0.51 0.49 5.2 7.65 7.8 2.6 0.3 599 3.9 61.2 5.3 6 0.67 3.12 10.6 1.2 3.99 3.12 1.57 1.2 974.5 121.1 2.02 130 0.265 0.187

94,568,000 2,200 523,320 1,426,490 18,021,300 2,433,900 66,100 417,000 173,000 90,000 10,004,900 10,654,900 50,600 10,000 260,000 392,370 45,000 1,261,370 23,600 1,700 609,000 44,000 6,673,300 18,000 26,893,000 15,000 1,302,000 62,000 483,200 159,390 5,000 40 360,000 90,000

111,975,760 11,980 470,791,795 73,386,435 197,158,238 14,310,373 491,678 379,980 85,150 44,100 52,171,812 82,080,352 396,052 26,090 75,800 234,695,460 175,200 77,278,182.50 129,360 10,200 408,930 137,280 71,506,252 21,120 107,509,470 46,770 2,031,810 71,400 473,478,130 19,306,053 10,140 5,200 93,550 16,860

PROPERTY ARTHALAND CORP 0.65 0.66 0.64 0.65 0.64 0.65 225,000 144,780 AYALA LAND 37.75 37.8 37.5 38.05 37.5 37.8 4,966,900 187,926,480 ARANETA PROP 1.04 1.07 1.03 1.04 1.03 1.04 4,000 4,150 AREIT RT 45.05 45.1 46.5 47 44 45.1 486,000 22,289,060 BELLE CORP 1.38 1.39 1.4 1.4 1.39 1.39 461,000 640,990 A BROWN 0.83 0.86 0.85 0.86 0.83 0.83 743,000 622,230 CITYLAND DEVT 0.75 0.76 0.76 0.76 0.75 0.75 79,000 59,650 CROWN EQUITIES 0.108 0.112 0.115 0.115 0.108 0.112 930,000 102,680 CEBU HLDG 6.42 6.76 6.36 6.4 6.36 6.4 11,900 76,090 CEB LANDMASTERS 2.89 2.9 2.87 2.92 2.8 2.9 1,329,000 3,767,360 CENTURY PROP 0.45 0.455 0.45 0.45 0.445 0.45 1,690,000 759,800 DOUBLEDRAGON 10.08 10.1 10.04 10.14 10.04 10.1 276,000 2,787,370 DDMP RT 1.77 1.78 1.79 1.8 1.77 1.78 20,015,000 35,659,570 DM WENCESLAO 6.98 6.99 6.99 6.99 6.96 6.98 163,700 1,142,744 EMPIRE EAST 0.275 0.28 0.275 0.285 0.275 0.28 920,000 254,850 EVER GOTESCO 0.34 0.345 0.345 0.36 0.345 0.345 12,380,000 4,355,550 FILINVEST RT 7.34 7.35 7.4 7.4 7.34 7.34 1,037,000 7,620,490 FILINVEST LAND 1.13 1.14 1.13 1.14 1.13 1.14 2,796,000 3,165,120 GLOBAL ESTATE 0.9 0.91 0.89 0.9 0.89 0.9 341,000 306,340 8990 HLDG 10.38 10.56 10.6 10.68 10.38 10.56 181,900 1,907,220 PHIL INFRADEV 1.17 1.18 1.16 1.19 1.13 1.18 1,238,000 1,422,120 CITY AND LAND 0.95 0.97 0.95 0.99 0.94 0.95 374,000 352,930 MEGAWORLD 3.25 3.27 3.17 3.27 3.17 3.27 41,229,000 133,308,130 MRC ALLIED 0.3 0.305 0.305 0.31 0.295 0.3 8,190,000 2,481,350 MREIT RT 18.22 18.24 18.24 18.36 18.2 18.22 9,491,800 173,424,760 PHIL ESTATES 0.49 0.495 0.5 0.5 0.49 0.49 1,854,000 910,320 PRIMEX CORP 1.75 1.81 1.84 1.85 1.72 1.81 89,000 160,950 RL COMM RT 7.07 7.08 7.22 7.22 7.05 7.08 16,242,400 116,180,556 ROBINSONS LAND 19.26 19.32 18.8 19.46 18.8 19.32 4,452,800 85,695,148 PHIL REALTY 0.23 0.242 0.239 0.239 0.228 0.228 90,000 20,740 ROCKWELL 1.54 1.56 1.56 1.56 1.53 1.56 17,000 26,460 SHANG PROP 2.6 2.62 2.63 2.64 2.58 2.62 249,000 646,590 STA LUCIA LAND 2.86 2.92 2.93 2.94 2.85 2.87 79,000 228,500 SM PRIME HLDG 36 36.3 36.05 36.65 35.5 36.3 6,020,600 217,852,850 VISTAMALLS 3.73 3.83 3.7 3.83 3.7 3.83 25,000 93,450 SUNTRUST HOME 1.43 1.44 1.43 1.45 1.42 1.43 288,000 411,950 VISTA LAND 3.85 3.86 3.79 3.87 3.79 3.86 1,228,000 4,720,770

SERVICES ABS CBN 14.62 14.64 14.58 14.8 14.3 14.64 197,000 2,874,772 GMA NETWORK 15.22 15.24 15.06 15.32 15.04 15.22 1,785,400 27,116,768 MANILA BULLETIN 0.4 0.42 0.4 0.4 0.4 0.4 190,000 76,000 GLOBE TELECOM 3,300 3,302 3,194 3,314 3,154 3,300 81,970 269,312,930 PLDT 1,640 1,645 1,655 1,685 1,640 1,640 165,560 273,033,390 APOLLO GLOBAL 0.081 0.082 0.085 0.085 0.081 0.082 169,170,000 13,843,260 CONVERGE 35 35.2 33.95 35.7 33.5 35.2 11,275,500 393,438,860 DFNN INC 3.11 3.13 3.15 3.19 3.09 3.13 420,000 1,317,810 DITO CME HLDG 6.69 6.7 6.62 6.78 6.62 6.7 3,633,000 24,286,870 NOW CORP 1.81 1.82 1.81 1.83 1.8 1.81 881,000 1,598,460 TRANSPACIFIC BR 0.37 0.385 0.38 0.385 0.37 0.37 5,680,000 2,119,850 PHILWEB 2.27 2.28 2.24 2.28 2.2 2.27 922,000 2,040,150 2GO GROUP 7.91 8 7.92 8 7.9 7.91 55,800 441,548 ASIAN TERMINALS 14.5 14.78 14.5 14.5 14.5 14.5 12,400 179,800 CHELSEA 1.93 1.95 1.97 1.98 1.93 1.95 421,000 822,770 CEBU AIR 48.35 48.4 46.7 48.5 46.7 48.4 2,179,300 104,746,440 INTL CONTAINER 190 190.8 196 200 189.1 190 1,591,350 306,025,253 LBC EXPRESS 20 21 20 20 20 20 5,300 106,000 LORENZO SHIPPNG 0.91 0.96 0.91 0.91 0.91 0.91 40,000 36,400 MACROASIA 6.4 6.44 6.3 6.48 6.3 6.44 6,963,700 44,574,231 METROALLIANCE A 1.53 1.59 1.48 1.59 1.48 1.58 71,000 108,430 HARBOR STAR 1.02 1.04 1.06 1.07 1 1.05 472,000 485,840 DISCOVERY WORLD 2.21 2.28 2.21 2.29 2.2 2.29 278,000 622,200 WATERFRONT 0.49 0.5 0.495 0.5 0.49 0.5 90,000 44,600 FAR EASTERN U 560.5 600 600 600 600 600 280 168,000 IPEOPLE 6.92 7.15 6.93 6.93 6.92 6.92 10,400 71,980 STI HLDG 0.355 0.36 0.36 0.365 0.36 0.36 1,970,000 711,100 BERJAYA 6.17 6.18 5.9 6.25 5.8 6.18 141,800 854,787 BLOOMBERRY 7.8 7.81 7.49 7.86 7.45 7.81 5,743,500 44,547,530 PACIFIC ONLINE 2 2.1 2.09 2.1 2.09 2.1 12,000 25,140 LEISURE AND RES 1.5 1.53 1.53 1.53 1.49 1.5 506,000 762,650 MANILA JOCKEY 1.81 2.09 1.81 1.81 1.81 1.81 1,000 1,810 PH RESORTS GRP 0.83 0.84 0.88 0.88 0.82 0.84 1,992,000 1,672,050 PREMIUM LEISURE 0.48 0.485 0.46 0.49 0.45 0.485 16,960,000 8,082,150 ALLDAY 0.71 0.72 0.78 0.8 0.7 0.71 478,290,000 354,079,100 ALLHOME 10.44 10.48 10.1 10.48 9.85 10.48 1,608,800 16,534,229 METRO RETAIL 1.35 1.38 1.36 1.38 1.34 1.38 249,000 339,690 PUREGOLD 42.7 42.75 44 44 42.7 42.75 1,076,400 46,498,960 ROBINSONS RTL 65.8 66 64 66 64 66 600,710 39,125,425.50 PHIL SEVEN CORP 91 94 90.6 94.05 90.5 94 23,210 2,169,047 SSI GROUP 1.28 1.29 1.27 1.3 1.27 1.29 3,863,000 4,967,270 WILCON DEPOT 30.15 30.2 31.4 31.45 29.9 30.15 3,209,400 98,423,970 APC GROUP 0.243 0.248 0.241 0.248 0.241 0.248 1,420,000 349,140 PRMIERE HORIZON 0.71 0.72 0.73 0.73 0.7 0.71 7,521,000 5,360,850 SBS PHIL CORP 4.03 4.19 4.06 4.19 4.03 4.19 12,000 48,680

MINING & OIL ATOK 6.28 6.3 6.63 6.63 6.2 6.3 91,800 571,624 APEX MINING 1.46 1.47 1.45 1.47 1.45 1.46 2,186,000 3,182,120 ATLAS MINING 6.18 6.2 6.4 6.4 6.11 6.18 1,774,200 11,018,138 BENGUET A 6.08 6.18 6.23 6.23 5.5 6.18 568,200 3,458,488 BENGUET B 5.84 5.98 5.84 5.84 5.84 5.84 300 1,752 COAL ASIA HLDG 0.285 0.29 0.29 0.29 0.29 0.29 90,000 26,100 CENTURY PEAK 2.75 2.78 2.6 2.78 2.6 2.78 27,000 70,740 DIZON MINES 5.28 5.57 5.13 5.57 5.12 5.5 30,600 167,800 FERRONICKEL 2.11 2.13 2.11 2.14 2.11 2.13 1,881,000 3,981,060 LEPANTO A 0.13 0.132 0.13 0.132 0.129 0.132 4,820,000 626,210 MANILA MINING A 0.0093 0.0094 0.0094 0.0094 0.0094 0.0094 3,000,000 28,200 MANILA MINING B 0.0092 0.0098 0.0098 0.0098 0.0098 0.0098 1,000,000 9,800 MARCVENTURES 0.91 0.92 0.91 0.92 0.91 0.92 571,000 520,710 NIHAO 1.03 1.09 1.05 1.1 1.01 1.05 560,000 591,440 NICKEL ASIA 5.61 5.65 5.74 5.74 5.56 5.61 4,990,600 28,068,830 ORNTL PENINSULA 0.81 0.83 0.81 0.82 0.81 0.82 41,000 33,220 PX MINING 5.1 5.12 5.11 5.14 5.08 5.1 614,700 3,140,579 SEMIRARA MINING 23.85 23.9 24 24 23.4 23.9 2,510,500 59,524,470 UNITED PARAGON 0.0062 0.0063 0.0064 0.0065 0.0062 0.0062 8,000,000 50,100 ACE ENEXOR 17.5 17.9 17.98 18 17.5 17.9 132,100 2,364,774 ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.01 111,800,000 1,136,600 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 1,700,000 18,700 PHILODRILL 0.0094 0.0096 0.0095 0.0096 0.0094 0.0094 16,000,000 150,800 PXP ENERGY 6.25 6.34 6.35 6.36 6.21 6.34 128,600 808,467

PREFFERED HOUSE PREF A 101.2 101.8 101.9 101.9 101.8 101.8 50,220 5,117,406 AC PREF B1 522 524 521 522 521 522 3,000 1,565,000 ALCO PREF B 101.1 102.5 102.6 102.6 102.6 102.6 4,710 483,246 AC PREF B2R 520 524.5 525 525 524.5 524.5 20,610 10,815,095 CEB PREF 47.35 47.8 45.6 47.95 45.6 47.85 222,800 10,633,145 CPG PREF A 101.8 103 102 103 102 103 5,580 569,260 DD PREF 100.3 102 100.7 102 100.2 102 60,230 6,068,269 FGEN PREF G 105.4 105.6 105 105.4 103 105.4 5,650 589,370 GTCAP PREF A 1,010 1,017 1,010 1,010 1,010 1,010 1,035 1,045,350 GTCAP PREF B 1,031 1,040 1,031 1,031 1,030 1,030 3,000 3,090,300 JFC PREF A 1,025 1,050 1,025 1,050 1,025 1,050 1,630 1,711,125 JFC PREF B 1,047 1,058 1,048 1,058 1,047 1,047 5,025 5,301,400 MWIDE PREF 2B 101.5 102.5 102.5 102.5 101.4 101.4 2,300 235,480 MWIDE PREF 4 100.4 101 101 101 101 101 29,990 3,028,990 PNX PREF 3B 104.5 107 107 107 104.3 106.9 1,270 133,285 PNX PREF 4 1,006 1,008 1,006 1,008 1,006 1,007 1,605 1,616,075 PCOR PREF 3A 1,115 1,120 1,125 1,125 1,114 1,114 4,630 5,158,150 PCOR PREF 3B 1,160 1,187 1,136 1,187 1,136 1,187 950 1,080,755 SMC PREF 2F 79.25 79.3 79.2 79.25 79.2 79.25 10,850 859,420 SMC PREF 2J 77 77.3 77.3 77.3 77.3 77.3 70 5,411 SMC PREF 2K 76.45 76.5 76.5 76.5 76.45 76.45 2,500 191,225

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.6 13.92 13.5 13.5 13.5 13.5 4,000 54,000 GMA HLDG PDR 13.96 14 14 14 13.8 14 380,200 5,303,048

WARRANTS TECH WARRANT 1.12 1.15 1.17 1.2 1.1 1.15 1,991,000 2,273,920

0%

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.).

"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."

27,158,240.00 187,832,245 -8,544,271.50 -50,629,904 260,437 15,729 44,100 41,717,067 -686,630 -43,950 115,420,875 35,579,164 -17,206,344 -2,260,580 -1,917,240 24,043,860 660,068 26,420 56,042,290 -1,019,670 4,180 24,900 -40,320 160,030 -18,500 127,288.00 -38,040 0 173,000 -1,318,097 -322,790.00 135,024 29,350 11,246,010 -429,000 -99,931,370.00 -12,390 -7,165,548 4,600,038 18,720 118,649,410.00 25,900 665,950 161,753,760 -34,964,075 1,119,390 -60,021,120 28,050 3,834,892 -5,430 -11,250 3,960 -137,790 -19,054,335 1,887,467 10,000 325,424 -97,200 20,361,478 4,500 4,650 6,513,990 11,899,259 19,910,975 18,968,424.50 -538,925 -296,960 -22,932,335 4,970 18,177 1,729,500 76,224 70,740 1,012,320 74,550 -550,534 -1,180,156.00 22,125,240 1,790.00 -125,433 412,650 661,125 -1,099,900 6,270 -198,000 - -4,890,740 -892,130.00

SMALL & MEDIUM ENTERPRISES ALTUS PROP ITALPINAS MAKATI FINANCE MERRYMART

18 1.78 2.4 3.26

FIRST METRO ETF

112.4

18.2 1.83 2.75 3.27

EXHANGE TRADE FUNDS

112.6

18 1.82 2.55 3.27

18.6 1.84 2.55 3.31

18 1.78 2.55 3.25

18 1.78 2.55 3.26

284,300 195,000 3,000 5,173,000

5,118,956 351,210 7,650 16,930,760

-3,751,200 9,000 412,460.00

111.7 112.7 111.7 112.4 31,430 3,525,045 500,989

Banking&Finance BusinessMirror

www.businessmirror.com.ph

Editor: Dennis D. Estopace • Tuesday, November 9, 2021

B3

Fintech deal signed by PHL, SG central banks

T

By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) announced on Monday that it has signed an enhanced “FinTech Cooperation Agreement” with the Monetary Authority of Singapore (MAS) to pursue easier crossborder payment linkages between the two countries.

9 good reasons to apply for a personal loan

P

ERSONAL loans are so accessible these days. You can even apply for it online. And most don’t need collateral and just base your approval on your creditworthiness.

Unsecured (no collateral) loans always come with high interest rates.

And this makes them a doublededged sword.

It can help by providing you with financial leverage, but it can also bury you deep in a financial mess.

And your financial discipline determines what the outcome would be.

Time and again, I always emphasize the importance of having an emergency fund. Because I strongly believe that the only reason why you should apply for a personal loan is because you have a financial emergency—an urgent and important expense—and you have no other cash source.

With that said, what then are those types of expenses that merit an application for a personal loan?

Here’s a list of good and valid reasons.

1. For debt-consolidation If you have multiple debts from various sources and different interest rates, then this is an option. Apply for a personal loan to pay all of them, and then just focus on paying off that personal loan.

Do take note that you’ll most likely pay more in interest fees if you do this; versus paying off all your debts individually. However, the main advantage here is you don’t need to keep track of different accounts and be confused about your due dates.

2. Pay off high-interest credit card debt First of all, you shouldn’t really be revolving balances in your credit card. It’s best to always pay the full amount due on your credit card every month.

However, times can go tough, and if you have unfortunately accumulated a substantial amount, then try to find a personal loan with a lower interest rate and pay off your credit card debt (and not use it until the personal loan is paid).

For example, if a P50,000 personal loan with a 12-month term can have a monthly interest rate of 1.4 percent—then it makes sense to take that personal loan to pay off your P50,000 credit card balance that’s incurring 2.5 percent monthly interest.

3. Do home repairs Your safety and security is important. If there’s a necessary home repair and you don’t an emergency fund, or it’s not enough to cover the expenses, then a personal loan can help.

Remember that having at least 6-months’ worth of your expenses as emergency fund helps a lot during these types of situation, and it also buys you financial peace of mind.

4. Pay for medical bills Most unexpected expenses are health-related. Accidents and illnesses can happen any time—to you and your family. And this is another reason why you should have an emergency fund, and health insurance (both short-term and long-term). But when funds are low, and time is of the essence, then getting a personal loan might be your best solution.

5. For funeral expenses Dying can be expensive. That’s

Fitz Gerard Villafuerte

personal finance why people sometimes ask for “abuloy” or donations during wakes. And it is in such cases that getting a personal loan can likewise help if again, you don’t have an emergency fund.

More importantly, having a preneed memorial plan becomes your best form of financial protection during these times. Most of them are transferrable to family members, so it doesn’t hurt to get one for yourself if your parents or spouse refuse to get one for themselves because it’s a morbid idea for them.

6. Cover business expenses If cash is tight and payment receivables are delayed, then a personal loan can help give your business some buffer. It’s a quick and easy process versus applying for a business loan, but it does have higher interest rates.

However, if you need the money as business startup capital, then I think it’s better to just find seed investors or raising cash from other means, rather than taking out a personal loan because there’s too much financial risk involved.

7. Pay for your child’s tuition Your child’s education is important, and if you believe the same, then you should save up for their tuition throughout the year, and not just 1-2 months before enrollment.

But again, times can sometimes be difficult, and we end up short on funds, especially when school fees suddenly increase. And therefore, it’s a valid reason to apply for a personal loan.

8. To invest on professional development If there’s a time-sensitive knowledge or skill that you need to learn, which will help you earn more money, then taking a personal loan to enroll in a class or course is acceptable if you don’t have funds.

A friend’s budget was tight from being unemployed when he stumbled upon a great job opportunity. However, applicants are required to know some basic Korean.

He took out a personal loan and enrolled in a language class. After a couple of months, he applied for that job and got accepted.

9. As long as it’s good debt Avoid borrowing money as much as possible, especially personal loans.

However, if you must, then it should be for a good reason.

There are good debts if the money will be used for urgent and important expenses. And it’s a bad debt if it’s for a frivolous or unnecessary expense.

Know the difference.

Moreover, always shop around and choose the shortest term with the lowest interest rates. Always do the math and simulate the payments against your cash-flow to guarantee that you can afford to pay it.

Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 93rd RFP program this January 2022. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

In a joint statement, the central banks said the agreement will facilitate the linkage of both countries’ real-time and QR-payment systems, to facilitate instant, seamless and low-cost cross-border payments.

The enhanced CA builds on the earlier 2017 agreement to broaden the scope of FinTech collaboration and partnership between BSP and MAS. “The BSP is taking the initial step in linking the Philippine payment system with those of our Asean [Association of Southeast Asian Nations] neighbors, beginning with Singapore,” BSP Governor Benjamin E.

Diokno said. “Effectively linking our QR [Quick Response] and real-time payment systems will enhance the safety and efficiency of cross-border payments through the smoother and seamless international transfer of funds, ultimately promoting the financial welfare of Filipinos that regularly use cross-border payment services.”

Diokno said overseas Filipinos, businesses in export, import and tourism and firms with affiliates or investors abroad will benefit from the agreement.

Remittance flows between the Philippines and Singapore totaled

$2.15 billion in 2020. The BSP said there is a pre-pandemic yearly average of approximately 900,000 travelers between both countries.

“This enhanced [cooperation agreement] will further strengthen our ties with Singapore and take us a step closer towards having an integrated and interoperable crossborder payment system in the Asean region,” Diokno said.

The central bank said the collaboration in payment infrastructure projects aligns with the G-20’s efforts to address existing frictions in global cross-border payments.

Both central banks also said they

will explore multilateral interoperability of these projects, in keeping with regional efforts to establish further linkages within Asean and with countries outside the region.

“The enhancements to the MASBSP FinTech Cooperation Agreement will help fast-track payments connectivity between Singapore and the Philippines,” MAS Managing Director Ambat Ravi S. Menon was quoted in the statement as saying. “Critically, the linking of our QR and realtime payment systems also marks a concrete step towards the vision of an Asean network of interconnected real-time payment systems.”

No. of Pinoys with basic deposit accounts up 51% in Q1

T

HE Bangko Sentral ng Pilipinas (BSP) announced on Monday that the number of Basic Deposit Accounts (BDAs) increased by 51 percent in the first quarter of the year.

BDAs rose from 4.6 million in the first quarter of 2020 to 7 million in the first three months of this year.

To date, 132 banks offer BDAs, with total deposits amounting to P 4.8 billion in the first quarter of 2021.

This marks an increase from the 121 banks with total BDA deposits of P 4 billion in the same three month

period last year.

“Account ownership enables Filipinos to conduct financial transactions in a safe, convenient and affordable manner. It is also a gateway to financial products and services like savings, loans, investments and insurance.” BSP Governor Benjamin E. Diokno said.

The BSP introduced the BDA Framework in 2018 to urge more Filipinos to open bank accounts.

The BSP introduced the BDA Framework in 2018 to encourage more Filipinos to open bank ac-

counts. It is a low-cost, no-frills account that features an initial deposit requirement capped at P100 and simplified identification requirements to open an account.

It has no maintaining balance and dormancy charges.

These BDAs are accounts designed by the BSP to encourage more people to open bank accounts and promote financial inclusion.

Among its key features include simplified know your customer (KYC) processes to open, no maintaining balance, no dormancy charges and

0 percent reserve requirement for the bank.

Earlier, the BSP said the surge in the opening of BDAs was tethered to the rise of online transactions due to movement and travel restrictions. These BDAs are usually used as “transaction accounts.”

“A transaction account serves as the gateway to financial services.

With it, a user can store funds and electronic payments then eventually avail of more products such as credit, insurance and investments,” Diokno earlier said. Bianca Cuaresma

Treasury to offer retail bonds, Davao region LGUs collect lure cash-flushed investors more than revenue target

By Bernadette D. Nicolas @BNicolasBM

T

HE Bureau of the Treasury (BTr) is eyeing to offer Retail Treasury Bonds (RTBs); the second time this year.

National Treasurer Rosalia V. De Leon said on Monday that they are planning once again to offer RTBs. “Planning for RTB sale as market still looking for outlets to deploy liquidity,” De Leon told reporters in a message.

The National Treasurer said, however, the volume that the Treasury eyes to offer is “not jumbo RTB in most recent issues.”

In March this year, the government raised P463.3 billion from the issuance of 3-year RTBs. Generally considered low-risk investment instruments, RTBs allow investors to earn a fixed interest based on prevailing market rates that are paid quarterly during the term of the bond.

Meanwhile, the Treasury also fully awarded P15-billion in Treasury Bills (T-bills) on Monday despite rates slightly inching up across the board.

The auction was more than twice oversubscribed as total submitted bids reached P42.5 billion.

Following the auction, De Leon said they do not see a significant rise in rates “following a deceleration in inflation and no market tantrum to Fed [US Federal Reserve’s] announcement of taper.”

Last Friday, the Philippine Statistics Au-

thority announced that inflation slowed to 4.6 percent in October from the 4.8 percent posted in September. Inflation average 4.5 percent in the January-to-October period.

The 91-day T-bills fetched an average rate of 1.143 percent, up by 1.3 basis points from 1.13 percent in the previous auction.

Total bids submitted for the tenor reached P14.53 billion, nearly thrice the P5-billion offering.

Meanwhile, the 182-day T-bills inched up to 1.401 percent from the previous auction’s 1.395 percent. The security attracted total bids of P15.26 billion, thrice the P5-billion offering.

Lastly, the 364-day T-bills capped an average rate of 1.616 percent, up by 0.3 basis points from 1.613 percent. Tenders for the security amounted to P12.725 billion, more than twice the offer.

The Treasury is set to borrow this month some P200 billion from the local debt market in November, the same amount it programmed to borrow for October.

The Treasury aims to raise P140 billion through auctioning off T-bonds while another P60 billion is programmed to be borrowed through T-bills.

The national government’s outstanding debt as of end-September this year ballooned to another record high of P11.92 trillion, already breaching government’s expected level of debt stock of P11.73 trillion by the end of this year.

This was also higher by 27.2 percent or P2.55 trillion than P9.37 trillion in the same period in 2020.

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CI T Y—T he cities in the Davao Region all shot up beyond their collection targets with Davao City nearly doubling the target collection.

For this, this city received the recognition plaque from the Region XI office of the Department of Finance-Bureau of Local Government Finance (BLGF) as “Top Performing Local Government Unit (LGU) in Real Property Tax Collection.”

The city government collected P2,260,636,000 in real property tax, a figure almost double its target collection of P1,183,883,000 for last year.

This is 190.95-percent collection efficiency.

“The tax collection efficiency earned recognition not only for the City Treasurer’s Office but also the City Assessors Office for its comprehensive assessment of real properties in support of the revenue generation program of the BLGF

Region XI,” the city government said.

The DOF-BLGF also handed plaques to the City Treasurer’s Office, City Assessor’s Office and Davao City Mayor Sara Z. Duterte “for their support to the program.”

The other cities in the region were not far behind in exemplary collection performance. The DOF-BLGF XI also recognized Digos City, Mati City, Panabo City, Island Garden City of Samal (Igacos) and Tagum City for exceeding their targets as well.

The Tagum City LGU also hit near-double collection with 162.84-percent collection efficiency, followed by the Island Garden City of Samal, with 139.54 percent. Both cities belong to Davao del Norte.

Another Davao del Norte local government, Panabo City, showed a stellar collection of 138.97-percent efficiency. Mati City of Davao Oriental came up with 121.20 percent and Digos City, with its 112.17-percent collection efficiency.

Poe presses COA to disclose audit report on PhilHealth’s financial standing

By Butch Fernandez @butchfBM

T

HE Commission on Audit (COA) was pressed Monday to disclose its 2020 Audit Report on the Philippine Health Insurance Corp. (PhilHealth) to give lawmakers “a clear picture” of PhilHealth’s state of finances as Congress deliberates on the 2022 national budget bill.

Senator Grace L. Poe stressed the neeed for full disclosure of PhilHealth’s current financial standing.

“We need to know exactly how much PhilHealth owes hospitals and healthcare workers,” Poe said.

“They must be paid soon and government must figure out where to get the funds.”

In a statement, Poe pointed out the COA report will “render a credible audit” of PhilHealth’s financial condition and “see to it that funds are effectively used” for the people’s health-services needs.

Airing concerns that operations of hospitals are at risk, the senator said “we are still in a pandemic and people are still dying,” reminding that “PhilHealth must not hide or sugarcoat its numbers.”

Poe pointed out that the COA’s 2019 Annual Audit Report on PhilHealth showed that benefit claims have totaled P75.57 billion, noting that this was “close to double the P39.79 billion benefit claims reported at the end of 2018.”

She noted that members of the Private Hospitals Association of the Philippines Inc. (PHAPi) are “still awaiting PhilHealth’s action” to pay the Covid-19 claims from 2020, prompting reports that some hospitals are already “contemplating not renewing their accreditation.”

The Senator acknowledged “this will make it difficult for PhilHealth members to reap the full benefits of their membership as they will have to pay for their medical expenses

from their own pockets and hope that the state health insurer will reimburse them.”

“PhilHealth cannot resort to delaying and scare tactics to discourage hospitals from pursuing what’s due them,” Poe added noting that after PHAPi reported the problem, some hospitals received summonses from the National Bureau of Investigation concerning their claims.

She noted that reports reaching her office indicated that PhilHealth received 35,147 Covid-19 claims from hospitals in 2020 but only 10,265 of the claims were paid, amounting to P2.5 billion.

Moreover, the Senator added that of the 2,859 claims for critical Covid-19 cases, PhilHealth only paid 642 claims or P505.6 million and refused to pay for 309 cases amounting to P243 million. Poe noted that PhilHealth returned 1,179 claims of hospitals for critical cases costing P927.15 million and 729 claims for critical cases were still under process

as of July 31, 2021.

Reports reaching her office also stated that for critical Covid-19 cases, PhilHealth ought to have shouldered P786,384 of a member’s hospitalization.

Noting that the 2019 COA report, likewise, aired concerns on PhilHealth’s actuarial estimates and assumptions, she said it also “sought an improvement in its actuarial valuation process.”

The senator recalled that “before Covid-19, COA already had concerns on PhilHealth’s actuarial valuation process.”

She added that Covid-19 would have “made it more urgent for PhilHealth to get an actuarial study of the fund to come up with a set of recommendations that would make the fund viable and sustainable.”

Poe emphasized that Senators need to examine PhilHealth’s finances and take that into consideration in the discussions for the 2022 government budget.

B4

Art

BusinessMirror

Tuesday, November 9, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

Among the pairings of Nonoy Froilan’s photographs and Edna Vida’s paintings in their maiden art exhibition is Scorched (left), featuring Froilan’s crayons (2021, UV print on canvas, 14”x24”) and Vida’s On Stage 94 (2021, mixed media on canvas, 32”x24”).

The show runs at Conrad Manila’s Gallery C until January 8.

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Cory Hardrict, 42; Eric Dane, 49; Susan Tedeschi, 51; Lou Ferrigno, 70.

Happy Birthday: Establish what you want to accomplish. An organized approach to life, love and financial matters will alleviate stress and worry. Having balance will be your ticket to freedom and the success you aim to achieve. Look for unique pastimes that will stimulate you mentally and physically and promote selfsatisfaction and confidence. A passionate, inquisitive mind will bring about positive change. Your numbers are 3, 17, 20, 23, 31, 38, 46.

a

ARIES (March 21-April 19): Do what’s necessary, then get on with life. Finishing what you start will be a relief and lift a burden that’s been weighing you down. Alter your lifestyle to encourage a healthy and happy future. Healthy eating, routines and exercise are encouraged. HH

b

TAURUS (April 20-May 20): Push what you know and do well. Promote what you have to offer, not what you can’t. Be the first to make a move, change your direction or incorporate something new and exciting into the mix, and you will advance.

HHHHH

Dance legends Nonoy Froilan, Edna Vida in first joint visual arts show

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ROM glowing under the spotlight onstage, titans of Philippine performance art Nonoy Froilan and Edna Vida share the track lights of the exhibition space for the first time together as visual artists.

The couple of almost five decades join hands to showcase another facet of their artistry at Conrad Manila’s Gallery C, featuring Froilan’s photographs and Vida’s paintings. The show, titled Duets, opened recently and is on view until January 8.

Fellow dancer and former president of the Cultural Center of the Philippines Nestor Jardin curated the presentation. He called the project “exciting and challenging,” having to marry two different visual art forms, while working on diverse subject matters: Froilan with his shots of cloudscape and Vida with depictions of dancers.

“It took me days to look over hundreds of Edna’s paintings and Nonoy’s photographs, trying to

see points of similarities and confluence in their artworks,” Jardin said during the opening. “From the perspective of style and form, color, movement, energy and emotions, I finally saw some points of convergence. Thus was born the thematic, curatorial idea for Duets, or partners.”

“Edna and Nonoy,” he adds, “must be perhaps among the most versatile artists I’ve ever known. I’ve always admired their works, be it in dance, or theater, and now in visual arts.”

The premier Filipino danseur of his time, Froilan exemplified how male dancers can shine in their own light alongside prima ballerinas. For his lifelong contribution to the development of dance in the country, he was bestowed with the prestigious Gawad CCP Para sa Sining 2020 for Dance.

Post-retirement from performing, Froilan founded the Froilan Video Arts and picked up photography as a hobby. He regularly captured snaps of cloudscape from their home overlooking Makati, Mandaluyong and Manila.

“Why clouds? Because it poses a challenge like in dancing, wherein if you hesitate, it becomes a lost moment, done and gone,” he said, adding that, to date, he has over 9,000 images of cloud formations that he takes “almost daily, all from my window.”

While Froilan admits to having uncertainties with his new craft, he continues to dare, as he did in dancing. A brave, unyielding mindset that has captured photographs marked with dramatic lightning and, of course, movement.

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“When I see Nonoy’s artworks—maybe he doesn’t recognize it because he sees it from his own eye—I see dance,” Vida said. “In his clouds I see pirouettes and grande jeté. I see set designs behind the colors.

Nonoy’s always been interested in lights and colors.”

For her part, Vida is no stranger to art exhibitions.

She has had a couple of shows for her paintings, being the ever multitalented artist. Aside from being the principal dancer of Ballet Philippines and one of its leading choreographers, Vida is also a theater actor, writer, cartoonist and art critic.

When the pandemic hit, Vida felt the urge to pick up the paintbrush once more. “The lockdowns changed me and Nonoy a lot,” she said. “Being imprisoned in the state of obscurity is the best time to be an artist.”

According to Vida, she and her husband had no form of conversation about the confluence of their artworks for the exhibition, before quipping a qualifier.

“Well, I always ask Nonoy if my work is nice or not.

Sometimes he says, ‘It’s not nice. It’s not yet finished.’

And I say, ‘OK.’ But I always say his pictures are nice because I’m nicer,” Vida said, drawing a laugh from her husband.

Their show, Duets, was the singular idea of Jardin, whom Vida considers a true advocate for the arts, as well as a friend, an advisor, a mentor and a brother.

Jardin presented the works of Vida and Froilan in

Continued on B5

Eric Zamuco exhibit ‘Working on the Mountain’ at Silverlens, Manila Templo 3, 2021, mixed media 48"x57"x13"

Silverlens presents a new show by Eric Zamuco, titled Working on the Mountain, taken from the title of a book of essays by N.V.M. Gonzalez. In this series of works, the mixed media artist ponders on the metaphor of geologic accretion and formation found in ancient temples and applies it to objects in the thick of instability and ruin.

Each assemblage called Templo is a selfcontained compound of metal rods inserted through overlapping glass panels and wood, like acupuncture points marking a body. Zamuco makes use of a collection of odds and ends stocked from his studio, widely diverse in their material. In one work, shards of a glass bottle are encased like precious emeralds.

In another, a black-and-white image of decapitated fish heads printed on a glass panel surprises, as the viewer is left to guess its connection to the other

objects in the grouping.

The works link by way of the painted brushstrokes done separately per piece which are shorthand or cursive codes detailing a medical diagnosis or procedure. This is an artistic decision influenced by living in the context of the pandemic with its anxieties about health and disease. One remembers that objects are the base signposts of a stable life: your favorite coffee mug, a kitchen rag. The arrangement of the objects found in the assemblages where accrual is concentrated at the top and tapers at the bottom speaks of a world upturned on its foundation yet holding it together.

Eric Zamuco is a widely exhibited artist in the Philippines and overseas. His show Working on the Mountain at Silverlens Gallery is on view until November 13.

GEMINI (May 21-June 20): Look at the good, the bad and how to find the middle ground when dealing with peers, relatives and anyone in a position of authority. Knowing who you are dealing with will be your ticket to saying and doing what others expect of you. HHH

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CANCER (June 21-July 22): Participate, and you’ll have more control. Get involved in something that concerns you or will help you get ahead. Raise your qualifications, and eliminate restrictions due to a lack of keeping up with technology or the latest in your line of work. HHH

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LEO (July 23-Aug. 22): Refuse to let change cause stress. Analyze the situation, get an expert opinion and take a minimalist approach to the way you move forward. Aim to stabilize and secure your position, life and relationships, not exacerbate them. HHH

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VIRGO (Aug. 23-Sept. 22): You have everything in place; don’t procrastinate or hold up progress in pursuit of perfection. How much you achieve will be just as important as the details you apply. The balance between quantity and quality will be your passage to success and fulfillment. HHHH

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LIBRA (Sept. 23-Oct. 22): Keeping the peace is essential if you want to finish what you start. A steady pace forward with an optimistic attitude will help contest any obstacles you encounter. Trust your instincts, and pursue what is in your best interest.

HH

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SCORPIO (Oct. 23-Nov. 21): It’s OK to mull over options, but you must realize following through is the path to peace of mind. Do your research and move forward with your plans, and you’ll leave a lasting impression on those waiting to see you make a move. HHHH

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SAGITTARIUS (Nov. 22-Dec. 21): Trust your instincts, not what someone leads you to believe. Focus on what’s important to you and where you can gain the most ground financially.

Be direct, leave no room for error and keep your costs within reason. HHH

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CAPRICORN (Dec. 22-Jan. 19): Seize the moment, and take care of business. Gain experience and knowledge through observation and discussions with experts. Develop your style by implementing the best of what you collect from those you encounter. Strive for excellence in all you pursue.

HHH

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AQUARIUS (Jan. 20-Feb. 18): Through adversity comes the strength of vision and an enriched sense of what you are capable of accomplishing. Stand tall and do your own thing, and you’ll discover what works best for you. Keep your plans to yourself until you iron out the flaws. HHH

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PISCES (Feb. 19-March 20): Be careful how you handle money matters and joint ventures.

Make your voice heard, and stay in the loop.

Don’t leave money and essential decisions in someone else’s hands. Implement the changes that ensure your success. HHHH Birthday Baby: You are relentless, original and powerful.

You are sensitive and loving.

‘ah yes’ by jeffrey wechsler The Universal Crossword/Edited by David Steinberg

ACROSS 1 Ado 5 Was backward?

8 Learn (of) 12 Ski resort town in Colorado 14 Simile words 15 Pained expression 16 “Bye Bye Bye” band 17 French fashion monogram 18 Reference list for a book 19 Boxing venue at a Western lake resort?

22 Doctors who operate in a Persian Gulf country?

28 Perform as directed 29 Indian yogurt drink 30 Cut quickly 31 Texter’s “Hilarious!”

32 Many are placed in stands in December 33 Green prefix 34 Nickname related to Pat, perhaps 37 TV networks’ revenue sources 38 Very masculine

0 Visit, as a motel 4 42 Name of two Bible books 43 Sandwich for an African desert traveler?

47 Form of baby food 48 What a Hawaiian woman toasts with?

54 Devices for allergic reactions 56 Mocktail’s lack 59 Home of Canada’s largest zoo 60 Flower said to smell like a hot drink 61 Certain child in a blended family 62 Strike in the newsroom?

DOWN 1 ___ belt (car part) 2 American naval letters 3 One may slip past a 4-Down 4 Guard at a post 5 Japanese farewell 6 Rated 7 Beasts with blubber and tusks 8 Depends (on) 9 Last part 10 Expert 11 T. ___

3 Org. for Rose Bowl players 1 15 Flapper?

20 Sword’s handle 21 Colorful part of the eye 22 Leaves in a hurry 23 Call off at Cape Canaveral 24 Solar charioteer of myth 25 Half a pint 26 Small segment of a market 27 Thread holder 35 Relaxing place 36 “I sincerely doubt that!”

38 Deface 39 Org. with ENTs 41 Use as a resource 42 Puffed up 44 Won’t quit yakking 45 “Chances ___...”

46 Cancel 48 What doesn’t stick out of an AirPod 49 Each 50 They peck at their food 51 Deep-purple berry 52 Arrange by name, perhaps

3 “Get lost!”

5 54 Sci-fi beings 55 Word before “luck” or “hole” 57 Brutus Buckeye’s sch.

58 Allow

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

QCinema partners with KTX for 2021 edition WITH the pandemic far from over and cinemas still closed, QCinema International Film Festival jump cuts the challenges and proceeds again with a hybrid festival.

In 2020, the festival pivoted to the new normal with a festival that featured socially distanced and by-invitation-only physical screenings coupled with online streaming.

This year, from November 26 to December 5, QCinema says it will again feature physical screenings and online screenings. The latter will be in cooperation with KTX. Festival director Ed Lejano says, “High-profile film festivals from all around the world have embraced this format. Our experience last year also proves that a hybrid festival is the way to go.”

He adds that the online component widened the festival’s reach with more viewers outside Metro Manila gaining access to the festival.

KTX is the country’s foremost digital events platform hosting the biggest ticketed, virtual shows—concerts, movie exhibitions, festivals, among many other digital experiences.

“With the inevitable and imminent shift to the digital space for appreciation and exhibition of films due to the pandemic, KTX believes that it is an exciting time to expand the already huge following of QCinema, one of the country’s foremost film festivals, to the entire Philippines and even the world,” says KTX head Enrico Santos.

Adds Gian Carlo Vizcarra, head of its business development and operations, “We are very honored to be a part of this year’s QCinema Film Festival and we are excited to bring and tell the timely stories of our filmmakers all over the world.”

The film festival is regarded as one of the leading international film festivals in Southeast Asia and is the flagship project of Quezon City Mayor Joy Belmonte aimed at pushing forward Quezon City‘s brand as the film capital of the country.

Earlier this year, the festival organizers announced six short films competing in its #QCShorts section. Each film receives a production grant worth P350,000 with ownership of film rights.

These are Skylab by Chuck Escasa; Ampangabagat Nin Talakba Ha Likol by Maria Estela Paiso; i get so sad sometimes by Trishtan Perez; MIGHTY ROBO V by Miko Livelo and Mihk Vergara; Henry by Kaj Palanca; and City of Flowers

by Xeph Suarez.

Aside from the physical screening and online streaming of its films, the film festival will also host a variety of online and offline events.

Dance legends Nonoy Froilan, Edna Vida in first joint visual arts show Continued from B4 25 pairings, each one with its thematic origin and inspiration.

Solace inspires harmony in sight and thought with Froilan’s shot of a starless night, titled Blood Moon, matching Vida’s On Stage 64, showing a dancer in red, her torso curled and arm flung, lost in the call of her passion. Meanwhile, Hope features a photo of a towering streak of white cloud against an ocean sky, titled La Tour Eiffel, together with Giselle 3, wherein the subject is frozen in a pose.

Present during the opening was National Artist for Dance Alice Reyes. She said the exhibition should remind dancers of the possible life that awaits them after retirement. “What excites me the most about this moment is the fact that there are numerous artists, dancers who wonder where they’re going to go after they’re done performing, and right here are three fantastic examples,” she said, alluding to her sister Vida, Froilan and Jardin. “This is a promising development for dancers. There is fantastic life after dance. But while you can dance, dance!”

Meanwhile, according to Linda Pecoraro, Conrad Manila General Manager, the exhibition complements Conrad Manila’s art program that inspires guests.

Duets serves as the 17th art installation at Gallery C since the hotel’s art program was launched in 2017.

The show is their third art presentation since the beginning of the pandemic.

“We reiterate our commitment to enshrine our legacy of enabling our guests to experience luxury and genuine Filipino hospitality,” Pecoraro said. “Through the inspiring visual artworks of Duets, let us see the future as bright and beautiful.” n

Editor: Gerard S. Ramos

• Tuesday, November 9, 2021

SB19 giving back while staying on top I

T has been a few years since the local music industry witnessed how an anonymous, nameless all-male group went viral when they uploaded a seamless and synchronized dance rehearsal video. Today, SB19 has not only created huge waves in the local music market, but also made their presence already felt in the international arena.

SB19 has even penetrated the international music awards circuit with a nod at the Billboard Music Awards, and a recent nomination as the Best Southeast Asian Act at the MTV Europe Music Awards. Original songs like “Go Up,” “Tilaluha,” “Alab” increased their local fan base. More recents pieces and well-crafted videos like “What?” and “MaPa” allowed the group to spread their wings, captivating music lovers from all over the world.

Brands took notice of the group’s phenomenal rise and quickly signed the group as their endorsers. The Korean street food Yopokki suddenly became popular because of the group. Korean brands like Mulbit Me, a skin-care company, and Montbest, a Korean bottled water brand, also got the boys of SB19 to strengthen the marketing and promotional strategies of their respective brands.

Universal brands like Dunkin’ Donuts, Netflix, Kentucky Fried Chicken, Samsung and Pepsi lost no time in securing their partnership with SB19. Local companies like Lazada Philippines and Monde Nissin also signed them up, much to the delight of SB19’s management team at ShowBT Philippines.

Despite staying on top with every new song and music video release, SB19 remains grounded and continues to give back and share their bountiful blessings.

Recently, the group headlined a virtual concert for the benefit of the Baptista Music Foundation, named after Sister Baptista Battig, Order of Saint Benedict (OSB), who was the founder of the Conservatory of Music of Saint Scholastica’s College.

The foundation’s vision is to promote a nation culturally developed and united through music and

serve as a catalyst for gifted underprivileged youth, and SB19 agreed to perform in this special concert to raise funds for the music scholars that the foundation is supporting.

Billed as Forte: A Pop Orchestra Concert, SB19 was backed by the Battig Chamber Orchestra, composed of scholars, alumni and classically-trained musicians, and all rendered wonderful numbers that combined the best of both classical and Pinoy pop music. Joining them were the highly regarded musically gifted sisters called 4th Impact, the Saint Scholastica’s College Chamber Choir, and classical soloists Nicole Pugeda and Isaac Iglesias.

Modern Filipino classics “Araw Gabi,” “Sana Maulit Muli,” “Ikaw at Ako” and “Please Be Careful with My Heart” were among the memorable songs performed.

But it was the SB19 original “MaPa” that raised the trending roof of twitterdom that night.

And because SB19 will celebrate its third anniversary this month, the group will be having a monthlong celebration and a two-day live broadcast concert to cap it off.

The concert, to be billed as SB19 Our Zone 2021: Anniversary Concert, will happen on November 27 and 28, both at 5 pm Philippine time. The first and second show have two different programs, repertoires and activities. The event will feature live performances with games, special guests, and lots of other surprises for SB19 fans and followers all over the world.

SB19 is more than just the country’s breakthrough group of the new decade; it is also the country’s best gift to music fans all over the world in recent years.

Continue to make us proud, Ken, Justin, Stell, Pablo and Josh.

Tickets for SB19’s anniversary concert are available via www.ktx.ph and www.sb19ozone.com. n

‘Rust’ film armorer says someone may have put bullet in gun THE woman in charge of weapons on the movie set where actor Alec Baldwin fatally shot cinematographer Halyna Hutchins said on Wednesday night that she had inspected the gun Baldwin shot but doesn’t know how a live bullet ended up inside.

“Who put those in there and why is the central question,” Hannah Gutierrez Reed, the armorer for the movie Rust, said in a statement issued by one of her lawyers, Jason Bowles of Albuquerque, New Mexico.

“Hannah kept guns locked up, including throughout lunch on the day in question [October 21], and she

instructed her department to watch the cart containing the guns when she was pulled away for her other duties or on a lunch break.”

The statement goes on to say that “Hannah did everything in her power to ensure a safe set. She inspected the rounds that she loaded into the firearms that day. She always inspected the rounds.”

The statement adds that she inspected the rounds before handing the firearm to assistant director David Halls “by spinning the cylinder and showing him all of the rounds and then handing him the firearm.”

“No one could have anticipated or thought that someone would introduce live rounds into this set,” Gutierrez Reed’s statement said.

The statement also noted that “she did firearms training for the actors as well as Mr. Baldwin, she fought for more training days, and she regularly emphasized to never point a firearm at a person.”

On October 29, attorneys for Hannah Gutierrez Reed said she doesn’t know where the live rounds found there came from and blamed producers for unsafe working conditions.

Santa Fe County Sheriff Adan Mendoza has said there was “some complacency” in how weapons were handled on the set of Rust.

Investigators initially found 500 rounds of ammunition—a mix of blanks, dummy rounds and what appeared to be live rounds. Industry experts have said live rounds should never be on set.

Additional ammunition, a dozen revolvers and a rifle also were seized in the search of a white truck used for storing props including firearms, according to an inventory list filed on Friday in court. AP

Kim Atienza joins Camille Prats, Iya Villania as new host of ‘Mars Pa More’ Beginning November 8, GMA’s well-loved familyoriented talk show introduces its newest host and welcomes viewers in their new studio with all-new and exciting episodes in Mars Pa More with Pars Kim Atienza.

As the show’s official “Pars” (short for the Filipino colloquial Pare), expect to see Kim Atienza share his male perspective on the chikahan and paandaran of resident hosts: GMA mommies Camille Prats and Iya Villania. His banter and opinions will surely be full of amazing trivia about things that should interest every viewer.

The trio is set to lead a more interactive and engaging bonding moment through the show’s fresh segments.

In “Mars/Man of the Hour,” Filipinos whose accomplishments have brought prestige to the country are given the spotlight; in “Mars/Pars of the World,” viewers are given a virtual tour of scenic and exotic locations abroad by fellow Filipinos living there; and in “Benta Box,” the hosts personally converse with online followers who are handed a surprise, hidden in mystery boxes.

An entertaining spin on intrigahan with celebrity guests also awaits viewers in “Lightning Laglagan” and “Pasabog Na Chika.”

Meanwhile, watch out as Kuya Kim hits the road to bring viewers to exciting dining destinations, outdoor activities, and celebrity encounters in his special segment.

Mars Pa More with Pars Kim Atienza airs weekdays at 8:45 am on GMA (www.gmanetwork.com).

Meanwhile, the network’s radio arm RGMA launches the second season of its nationwide digital send-in promo, billed as Barangay Blockout.

Addressing the challenges of sending actual POPs and the boredom of getting locked-down during the pandemic, RGMA came up with Barangay Blockout which launched earlier this year. Consumers and sarisari store owners only need to take a picture of their supermarket receipts, register online and play their virtual cards during the quiz show on Facebook Live to win as much as P30,000 each playing week.

There will be five raffle winners of P2,000 and blockout prizes of up to P30,000 per participating station each playing week.

From left: Camille Prats, Kim Atienza and Iya Villania

Sponsors of Barangay Blockout Season 2, ongoing until January 25, 2022, are Knorr, Surf, Sunsilk, Milo and Bear Brand. More information is available via 0970-2475000 or 0916-1656650.

SB19

B5

B6 Tuesday, November 9, 2021

Hyundai moves transport modernization boom in Novaliches, Quezon City

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YUNDAI Asia Resources, Inc. (HARI), the official distributor of Hyundai commercial vehicles, strengthens their participation in overall transport modernization with another successful delivery of modern PUVs. At the inauguration of NOVADECI Transport Service Cooperative (NTSC), a subsidiary cooperative of the Novaliches Development Cooperative (NOVADECI), HARI, through authorized dealer Hyundai Trucks and Buses Commonwealth, successfully turned over 32 units of the HD50S Modern PUV Class 2. This concretizes the cooperative’s commitment to contribute to the nation’s ongoing agenda in bettering mass transport services for the commuting public.

Quezon City Mayor Josefina “Joy” Belmonte-Alimurung graced the landmark activity, together with notable representatives from the local government, transport, and finance sectors.

“Ilan sa mga lubos na naapektuhan ang sector ng transportasyon. Pero heto ang NOVADECI, nakahanap ng paraan para tugunan ang pangangailangan ng mga kasaping drayber. Wala na ring pangamba sa hinaharap at baka matigil ang pasada,” Mayor Belmonte said. “Balita namin yung mga bagong jeep ay fully compliant sa pamantayan ng Philippine National Standards at naaayon sa PUV Modernization Program ng ating Department of Transportation o DOTr. Hindi lang natin mabibigyan ng kita ang mga tsuper, masisiguro rin natin ang mas malinis na kapaligiran. At dahil dito, naniniwala kami na ito rin ay pangmatagalan,” she added.

Brgy. Chairman of Nagkaisang Nayon Feliciano dela Cruz, NOVADECI BOD Chairwoman Ms. Leonisa A. Fausto, and representative of Hyundai Trucks and Buses Commonwealth

SUPERNOVA. 32 units of the Hyundai HD50S Modern PUV Class 2 will soon serve commuters of Malinta-Novaliches area, as part of NOVADECI Transport Service Cooperative’s (NTSC) commitment to provide better mass transport services for the commuting public.

Ms. Kathy Merdegia also graced the inauguration of NOVADECI Transport Service Cooperative (NTSC) and turnover of 32 units of the Hyundai HD50S Modern PUV Class 2.

Ms. Fausto thanked Hyundai and other partners for making the project possible. She hopes that their initiative will serve as inspiration not only to NOVADECI but also the entire transport sector in the country.

On the part of Hyundai Trucks and Buses Commonwealth, their team assured NOVADECI of their commitment to provide top service to maintain the road worthiness of the modern PUVs turned over to the group, and to extend support that demonstrates the Hyundai Trucks and Buses determination to be a Partner in Every Way. HARI President and CEO Ma. Fe PerezAgudo lauded this latest development in their company’s effort to energize the country’s transport sector, reinforcing that, “Hyundai shall continue to take steps to help shape the future of mobility in the Philippines that shall move more people, especially our healthcare and economic frontliners, toward more opportunities that shall help enrich their livelihood and contribute to the greater agenda of economic stability.”

With the HD48 GT Modern PUV recently launched by HARI, the company is confident that this new addition to their portfolio of people movers shall build on the current success that Hyundai has already established in the transport sector. Since HARI has expressed intent over supporting the government’s Public Utility Vehicle Modernization Program or PUVMP in 2017, the company has enjoyed a sizeable gain in market share in the commercial vehicle industry, thanks to transport cooperatives that have trusted in Hyundai and made it their chosen PUV brand.

This year, HARI sold over 200 units of its Modern PUVs to a diverse roster of transport cooperatives nationwide, helping advance mass mobility initiatives in communities of Ilocos Norte, Pangasinan, Tarlac, Cavite, Bulacan, and Tacloban to name a few.

In the first nine months of 2021, sales of Hyundai’s Modern PUVs jumped by 715.8% compared to the same period in 2020, cornering 10.8% market share in the CAT III (3T-6T) category.

Get to know more of Hyundai trucks and buses at https://www.hyundai.ph/ trucksandbuses or send in your inquiries or requests for quotes at Hyundai CARES/ HCARES: wecare@hyundai-asia.com.

Beeinfotech PH rolls out in-country AWS Outposts cloud solution for enterprises

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EEINFOTECH PH, operator of the country’s largest telco-neutral data center to date and provider of tailored colocation services, is now offering the AWS (Amazon Web Services) Outposts solution catering to large enterprises. The solution enables them to run AWS cloud services locally within Beeinfotech PH’s “The HIVE” data center while also benefiting from its flexible hosting and telco-neutral services.

The rollout follows Amazon’s recent cloud infrastructure investments in the AsiaPacific (APAC), specifically in Japan and New Zealand, and increasing cloud footprint in the region.

AWS Outposts consists of racks that allow access to the entire AWS Cloud infrastructure. Enterprises processing realtime data, such as healthcare providers, telecommunications networks, and financial institutions, can locally run them to address latency and data sovereignty issues. Its usage is expected to boost the enterprise cloud capabilities of the Philippines, which has already been recognized as an APAC cloud spending leader, according to Cisco and the Boston Consulting Group (BCG). Globally, IDC forecasts that cloud infrastructure spending will grow 12% this year, amounting to $74.3 billion.

“As an enabler of digital transformation in the Philippines, our goal is to deliver

world-class solutions that bolster the technological capabilities of enterprises.

The AWS Outposts offering is one such solution as it provides instant access to the AWS Cloud infrastructure, one of the most comprehensive services used by enterprises around the world, to achieve digital transformation goals faster. We believe it’s the ideal time to implement the technology because of the availability of our telco-neutral facility and tailored data management solutions that can be configured to meet every requirement,” said Beeinfotech PH President and CEO Reynaldo Huergas.

Managing mission-critical solutions for large enterprises

TO fully meet their specific cloud workload requirements and other concerns, enterprises can subscribe to Beeinfotech PH’s AWS Outposts offering under either a Managed Service setup or private cloud setup. Under Managed Services, enterprises don’t have to worry about costly upkeep tasks such as setup, administration, migration, and maintenance, leaving clients to only run their preferred AWS solution.

Meanwhile, the private cloud setup provides enterprises more control in managing resources while only benefitting from select utilities within The HIVE.

The HIVE has telco-neutral capabilities allowing it to connect the AWS racks to all telecommunication networks and switch between them for minimized downtime and uninterrupted connectivity when one goes down. The facility can also integrate the AWS Outposts racks to its Network Operations Center and Security Operations Center offerings that constantly monitor equipment performance and cyber threats to further ensure security and availability.

With its upcoming Tier-III certification from the Uptime Institute and PCI-DSS (Payment Card Industry Data Security Standard) certification, clients can be assured that the facility remains operational even during maintenance and that it meets stringent data security standards.

Moreover, The HIVE is also in the process of attaining LEED (Leadership in Energy and Environmental Design) certification that recognizes its ability to reduce carbon emissions and power consumption, which supports the company’s sustainability goals.

“By removing the massive overhead that comes with managing racks, our colocation offerings improve IT efficiency and reduce operational risks. At the same time, we further bolster the scalable, flexible, and robust cloud infrastructure provided by AWS Outposts and needed by modern enterprises to drive digital transformation and deliver better performance,” said Maricar Nepomuceno, Beeinfotech PH Senior Vice President, Strategic Planning & Business Development.

To learn more about the advantages of running AWS Outposts locally through Beeinfotech PH, visit beeinfotech.ph.

Globe At Home, Alaska Milk partner to jump-start your online business

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LOBE At Home is making the holiday season brighter for Filipino families as it partners with Alaska Milk to bring affordable and stable connectivity and new opportunities to more homes this year through an exclusive promo on Shopee.

This collaboration offers all who avail of any of Globe At Home Prepaid WiFi products from Globe’s official store on Shopee from November 1 to 30 a discount voucher worth Php300 for their next purchase of Alaska Milk’s line of culinary creams, condensed and evaporated milks.

By staying connected with Globe At Home, homepreneurs can whip up new and festive dishes for the family this Christmas with Alaska Milk products.

To avail of the discount vouchers from Alaska Milk, customers should check out their choice of Globe At Home Prepaid WiFi products on the Globe Official Store at Shopee. The voucher will be sent to the customer along with the prepaid device.

The Prepaid WiFi products qualified for the promo are Globe At Home Prepaid WiFi with wide internet coverage and a range of add-ons and perks for better home online experience; Globe At Home LTE-Advanced Prepaid WiFi, which is twice as fast as other

Globe prepaid modems, best paired with HomeShare199 giving customers 25GB of data which they can share with their family members for their internet use in and out of their home; and Globe Streamwatch Xtreme Prepaid WiFi, a 3-in-1 device that serves as an internet TV that lets you watch your favorite shows from local TV channels in HD for free, and provides twice stronger signal and speed vs. pocket WiFi. Learn more about the promo and the featured Globe At Home WiFi products at https://shopee.ph/globeofficialstore and https://bit.ly/shpculinary.

CHRISTMAS AT SM AURA PREMIER. SM Prime Holdings Chairman for Executive Committee Hans T. Sy (second from left) and Taguig City Vice Mayor Ricardo Cruz, Jr. (third from left), led the recent Christmas Tree lighting ceremony at SM Aura Premier. They are joined by SM Engineering Design and Development President Hans Sy, Jr. and SM Supermalls President Steven Tan. With a Romantic Christmas Garden as its theme, SM Aura’s centerpiece features a 33 ft. red giant Christmas tree with an extravagant theme of reds and golds and shimmering bright lights with two larger than life swans gracefully in the foreground. Joining in the festivities are the Power Impact Dancers who treated the guests with an enchanting masquerade performance during the launch beneath the Broadway-light adorned archways and chandeliers.

DepEd awarded five-star rating by UNICEF

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HE Department of Education (DepEd) extends its appreciation to the United Nation International Children's Emergency Fund (UNICEF) for citing the country’s response on basic education amidst the pandemic in the recently-published Ensuring Equal Access to Education in Future Crises: Findings of the New Remote Learning Readiness Index (RLRI).

Out of the 67 nations analyzed, the Philippines was one of only four countries that received a five-star rating across all levels of basic education in the RLRI, a new composite indicator to measure countries’ readiness to deliver remote learning in response to school closures.

According to the UNICEF study, the Philippines, alongside Argentina, Barbados, and Jamaica, had ‘efficient policy responses supported by high emergency preparedness and existence of household factors that support remote learning.’

In this international recognition, we credit

our teachers, parents, partners, learners, and other stakeholders for ensuring that learning opportunities shall be available to all Filipino children and showing the Bayanihan spirit in the realization of the Basic EducationLearning Continuity Plan (BE-LCP). Through our united efforts, we managed to support the education of more than 27 million learners while prioritizing their health and safety amidst the pandemic.

Nonetheless, we also took note of the study’s recommendation in improving the curriculum and addressing learning gaps.

The Department, together with our various partners, is continuously developing strategies to solve these familiar issues also encountered by other countries.

With these developments and the upcoming pilot implementation of face-toface classes, we call on our stakeholders to work with us in maintaining these positive insights from UNICEF and furthering our policies and response to school disruptions.

TUPAD PAYOUT IN IMUS, CAVITE. Labor Secretary Silvestre H. Bello III greets the TUPAD (Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers) beneficiaries in Barangay Buhay na Tubig, Imus, Cavite during payout activities on November 2, 2021. TUPAD is a community-based package of assistance that provides emergency employment mainly to the displaced, underemployed and seasonal workers who lost their jobs due to the pandemic. Around 6, 171 beneficiaries from different barangays in Imus were simultaneously given their salaries amounting to a total of PhP24,684,000. (Photo by REGIE D. MASON, DOLE-IPS)

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

TheWorld

World’s top chipmakers provide data to US as deadline arrives

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everal chipmakers have already responded to a US request for supply chain information to help address the global chip shortage, with some of the world’s top suppliers confirming they won’t provide certain sensitive data.

Taiwan Semiconductor Manufacturing Co. has already submitted its answer, ensuring that no customer-specific information was disclosed, a company spokeswoman said. Other firms including Micron Technology Inc., Western Digital Corp. and United Microelectronics Corp. have also made submissions, ahead of the Monday deadline, according to a US government web site.

Tech companies in South Korea—home to Samsung Electronics Co. and SK Hynix Inc.—are preparing for a “voluntary submission” of relevant information, the finance ministry said in a statement on Sunday, adding that the firms have been negotiating with the US on the extent of data to be submitted. Local media reports have said the companies would only “partially comply” with the information request.

The US Department of Commerce in September asked companies in the semiconductor supply chain to fill out questionnaires seeking information pertaining to the ongoing chip shortage. While the request is voluntary, Commerce

Secretary Gina Raimondo warned industry representatives that the White House might invoke the Defense Production Act or other tools to force their hands if they don’t respond.

Washington’s request sparked controversies in both Taiwan and South Korea, with some fearing the US is demanding that companies hand over trade secrets. There have also been concerns in China that the US could use materials provided by TSMC and others to sanction Chinese firms.

In the questionnaire, chipmakers were asked to comment on inventories, backlogs, delivery time, procurement practices and what they were doing to increase output. The Commerce Department also requested information on each product’s top customers.

TSMC remains committed to “protecting customers’ confidentiality as always,” spokeswoman Nina Kao said in an e-mail to Bloomberg News on Sunday.

The world’s two largest contract chipmakers, TSMC and Samsung Electronics, serve a wide range of companies including automakers.

The persistent shortage of key semiconductors has taken its toll on a vast array of industries over the past year—particularly on car manufacturing, a vital contributor to the US economy—though there are signs that the supply crunch may have peaked. Bloomberg News

German coronavirus infection rate at new high as vaccinations slow

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ERLIN—Germany’s coron av i r u s i n fec t ion rate c l i mbed to its h ighest recorded level yet on Monday as what officials have called a “pandemic of the unvaccinated” gathers pace.

The national disease control center, the Robert Koch Institute, said the country has seen 201.1 new cases per 100,000 residents over the past seven days. That was above the previous record of 197.6 from December 22 last year. While it’s still a lower rate than in several other European countries, it has set alarm bells ringing.

The seven-day infection rate has long ceased to be the only yardstick for Covid-19 policy in Germany, but officials say hospitals are filling up in badly affected areas. The disease control center said Monday that 15,513 new cases were reported over the past 24 hours—down from a record 37,120 on Friday, but figures are typically lower after the weekend.

Ger many has str ug gled to find ways to pep up its muchslowed vaccination campaign.

At least 67 percent of the population of 83 million is fully vaccinated, according to official figures, which authorities say isn’t enough. Unlike some other European countr ies, it

has balked at making vaccinations mandatory for any professional group.

As at many times during the pandemic, Germany has a patchwork of regional rules. Most places restrict access to many indoor facilities and events to people who have been vaccinated, have recovered or been tested—with the latter now being excluded in some areas. Those rules are often enforced laxly.

Rules on whether schoolchildren must wear masks in class vary from state to state.

Free rapid tests for all were scrapped nearly a month ago in an effort to incentivize more people to get vaccinated. There are now widespread calls for them to be reintroduced. And officials now advocate booster vaccinations for everyone who got their initial shots six months ago or more.

G e r m a ny c u r re nt l y h a s a caretaker national government after its election in September.

The parties that are expected to form the next government plan to bring legislation to parliament this week that would allow an “epidemic situation of national scope,” in place since March 2020, to expire at the end of the month but provide a new legal framework for coronavirus measures. AP

BusinessMirror

Tuesday, November 9, 2021

US lifts Covid travel ban, opens doors to visitors

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he US lifted restrictions Monday on travel from a long list of countries including Mexico, Canada and most of Europe, allowing tourists to make long-delayed trips and family members to reconnect with loved ones after more than a year and a half apart because of the pandemic.

Starting Monday, the US is accepting fully vaccinated travelers at airports and land borders, doing away with a Covid-19 restriction that dates back to the Trump administration. The new rules allow air travel from previously restricted countries as long as the traveler has proof of vaccination and a negative Covid-19 test. Land travel from Mexico and Canada will require proof of vaccination but no test.

Airlines are expecting more

travelers from Europe and elsewhere. Data from travel and analytics firm Cirium showed airlines are increasing flights between the United Kingdom and the US by 21 percent this month over last month.

The change will have a profound effect on the borders with Mexico and Canada, where traveling back and forth was a way of life until the pandemic hit and the US shut down nonessential travel.

Malls, restaurants and Main

Street shops in US border towns have been devastated by the lack of visitors from Mexico. On the boundary with Canada, crossborder hockey rivalries were community traditions until being upended by the pandemic. Churches that had members on both sides of the border are hoping to welcome parishioners they haven’t seen during Covid-19 shutdown.

Loved ones have missed holidays, birthdays and funera ls while nonessential air travel was barred, and they are now eager to reconnect.

R iver Robinson’s American partner wasn’t able to be in Canada for the birth of their baby boy 17 months ago because of pandemic-related border closures.

She was thrilled to hear the US is reopening its land crossings to vaccinated travelers.

“I’m planning to take my baby down for the American Thanksgiving,” said Robinson, who lives in St. Thomas, Ontario. “If all goes smoothly at the border I’ll plan on taking him down as much as I can. It’s crazy to think he has a

whole other side of the family he hasn’t even met yet.”

According to the Centers for Disease Control and Prevention, the US will accept travelers who have been fully vaccinated with any of the vaccines approved for emergency use by the World Health Organization, not just those in use in the US. That means that the AstraZeneca vaccine, widely used in Canada, will be accepted.

For air travelers, the airlines are required to verify vaccine records and match them against ID, and if they don’t, they could face fines of up to nearly $35,000 per violation. Airlines will also collect information about passengers for contact tracing efforts. There will be CDC workers spot-checking travelers for compliance in the US. At land borders, Customs and Border Protection agents will check vaccine proof.

The moves come as the US has seen its Covid-19 outlook improve dramatically in recent weeks since the summer Delta surge that pushed hospitals to the brink in many locations. AP

Twitter has spoken: Musk should sell $21-B Tesla stake

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lon Musk’s social-media followers have spoken: The Tesla Inc. chief should sell 10 percent of his stake in the electric-car maker.

A majority of 3.5 million Twitter users—58 percent—said they’d support such a sale in a Twitter poll that Musk launched Saturday and closed shortly after 2:15 p.m.

Sunday in New York. The stake would be valued at about $21 billion based on 170.5 million Tesla shares he holds.

“I was prepared to accept either outcome,” Musk said in a tweet after the poll closed.

A cryptocurrency version of Tesla’s shares trading on FTX suggests Musk’s tweeting may cause the shares to fall when Wall Street wakes up Monday. They were fetching $1,137.60 as of about 5:20 p.m. Sunday in New York, 6.9 percent lower than Friday’s close for the real stock.

The crowd-sourcing exercise is the latest example of Musk’s long history of using Twitter and his legions of fans on the platform to stoke interest in his company, sometimes pushing the envelope with tongue-in-cheek tweets.

The world’s richest person proposed the move in a tweet citing recent discussions about the ultra-wealthy hoarding unrealized gains to avoid paying taxes. Musk doesn’t take a salary, but has to pay taxes on any stock options that he exercises.

Musk ’s tweets have moved Tesla shares in the past, some-

times drawing the ire of authorities. Musk in 2018 agreed to get approval from a Tesla attorney prior to communicating material information to investors as part of a settlement with US securities regulators. It wasn’t clear whether that official previewed Musk ’s Twitter poll.

Signaling intentions

While large sales by insiders are often seen as a negative signal, a sale of this size won’t alter Tesla’s story in a meaningful way, said Dan Ives, an analyst at Wedbush Securities. Demand remains high for Tesla shares among both institutional and retail investors, he said. The unorthodox step of getting buy-in from fans and investors via a poll may also ease any concerns.

“Selling 10 percent is probably going to add 1.5 percent to 2 percent to the float, so it doesn’t really significantly move the needle,” Ives said in a phone interview. “I do believe that him doing it in this way definitely would soften the blow and would help the perception as well.”

The automaker’s stock has soared 73 percent this year to $1,222.09 as of November 5, giving it a valuation of $1.2 trillion. The number of shares that Musk—its chief executive officer and largest shareholder—could be set to offload is equivalent to 80 percent of Tesla’s average daily trading volume in the past three months. The amount of stock he

may potentially sell would be even greater if his options are included.

Tesla’s stock won’t officially begin trading again until the early morning hours of Monday in the US.

Personal fortune

Musk’s fortune stands at $338 billion, according to the Bloomberg Billionaires Index. About one-quarter of that consists of Tesla stock options that he’s free to exercise at any time. The securities come from two big awards he received in 2012 and 2018. The older contracts expire in August next year.

If he exercised all of the options now and immediately sold the shares, they would net him $95.9 billion before taxes.

Musk may be signaling that he wants liquidity beyond the cash he’s secured by borrowing against his holdings in the EV maker. Last week he suggested he’d sell some stock if the UN could prove $6 billion could help alleviate world hunger. For years, Musk has said he would be the last to ever sell stock, and has often added to his position when Tesla has raised money from Wall Street so that his stake is not diluted.

Tax situation

Musk moved to Texas, which has no state personal income tax, in late 2020. But as Tesla’s market value has skyrocketed and his personal wealth has ballooned,

Musk has become a symbol of r ising inequalit y—something he appears to be sensitive to.

He was among the billionaires mentioned in a Pro Publica investigation of how the ultra rich avoid pay ing t a xes, a nd ha s become a t a rget of members of Cong ress who a re push ing a bi l l iona ires t a x.

“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll,” US Senator Ron Wyden, an Oregon Democrat, wrote in a tweet Saturday. “It’s time for the Billionaires Income Tax.” On his way to becoming the world ’s richest person, Musk h a s m ade m i l l ion a i res — a nd even at least one billionaire— among some of his fans, employees and ot her investors.

Among them is Leo KoGuan, a Singapore-based retail investor and business owner who used his already considerable wealth to amass more than $7 billion in Tesla shares.

Count KoGuan among those Twitter followers who say it’s time for Musk to take some money out of the automaker, even if it is just to use it in Musk ’s other ventures exploring space and neural networks. “Politically and from tax point of view and given that Elon is poor in cash, he has no choice but to sell his stakes to pay tax and to be cash-rich,” KoGuan posted on November 6.

Bloomberg News

Satellite images show China built mock-ups of US Navy warships

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EI J I NG — Sate l l ite i mages show China has built mock-ups of a US Navy aircraft carrier and destroyer in its northwestern desert, possibly as practice for a future naval clash as tensions rise between the nations.

China has upgraded its military massively in recent years, and its capability and intentions are increasingly concerning to the United States as tensions rise over the South China Sea, Taiwan and military supremacy in the Indo-Pacific.

The images captured by Colorado-based satellite imagery company Maxar Technologies dated Sunday show the outlines of a US aircraft carrier and at least one destroyer that sits on a railway track.

Maxar identified the location of the features as Ruoqiang, a Taklamakan Desert county in the northwestern Xinjiang region.

The independent US Naval Institute said on its web site that the mock-ups of US ships were part of a new target range developed by the People’s Liberation Army.

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It wasn’t clear from the images how many details had been included in the apparent targets, although USNI said it had identified features on the destroyer including its funnels and weapons systems.

China’s massive military upgrade has emphasized countering the US and other countries’ naval forces.

That’s included the development of land, sea and air-launched missiles to deny access and possibly sink opposing vessels, expressed most emphatically by the

land-based DF-21D ballistic missile known as the “carrier killer.”

Recent months have also seen a substantial increase in Chinese military flights just southwest of Taiwan, the self-governing island republic claimed by Beijing as its own territory and which it threatens to annex by force. Washington provides Taiwan with much of its weaponry and US law requires that it ensures the island can defend itself and to treat threats to it as matters of “grave concern.”

The images released by Maxar

come amid grow ing concerns over the possibility of military conflict between the world’s two biggest economies, which are at odds over a litany of political and economic issues.

Most recently, the Pentagon this month issued a report saying China is expanding its nuclear force much faster than US officials predicted just a year ago. That appears designed to enable Beijing to match or surpass US global power by midcentury, the report said.

US defense officials have said

they are increasingly wary of China’s intentions, largely with regard to the status of Taiwan.

“The PLA’s evolving capabilities and concepts continue to strengthen [China’s] ability to ‘fight and win wars’ against a ‘strong enemy’—a likely euphemism for the United States,” the report said.

China’s navy and coast guard are also boosting their numbers of vessels at a record pace, concentrating them in the South China Sea, the strategic waterway that China claims virtually in its entirety. AP

Sports BusinessMirror

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| Tuesday, November 9, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Mommy Caring tops Philracom-PSA Cup

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OMMY CARING used an explosive start to rule the 2021 Philippine Racing Commission (Philracom)Philippine Sportswriters Association (PSA) Stakes Race with relative ease at San Lazaro Leisure Park in Carmona, Cavite, on Sunday.

The progeny of Striding Ahead and On A Mission and bred by the Esguerra Farm and Stud of businessman Hermie Esguerra covered the 1,600-meter race in 1:41.9 (24’-24’-24’-28) to handily claim the P300,000 top purse for owner James Anthony Rabano.

“We expected to win,” said jockey Lester de Jesus who personally requested that Mommy Caring would be the last to enter the gates before the start. “This horse has some sort of a habit at the start.”

It was a formula that worked to near perfection as the threeyear-old horse came out strongly from gate No. 4 and never let go of the pole, leading by two lengths heading into the far turn and by

three toward the homestretch. “ Mommy Caring’s a born sprinter and is at ease at the front,” said trainer Ramon Nartea, whose horse topped the Philippine Charity Sweepstakes Office-sponsored 3YO Maiden Stakes in September. “We knew no one will pace the race, so we were comfortable up front.”

Luke Skywalker rallied to bag second place worth P100,000, while Tocque Bell settled third for P50,000.

Money Changer, Arrabiata and Roll Da Dice wound up fourth, fifth and sixth, respectively, to get their share in the P500,000 guaranteed pot.

The stakes race was for the benefit of the PSA, the oldest media organization in the Philippines which includes sports editors and sportswriters from the country’s leading broadsheets, tabloids and online media. The PSA continues to extend assistance to members in need and those impacted by the Covid-19 pandemic.

The PSA thanked the Philracom through its chairman Aurelio “Reli” de Leon.

‘MUSCLE’ FOR ‘SPIDER’ I

By Josef Ramos

N A SHOCKING turn of events, San Miguel Beer veteran forward Arwind Santos was traded to NorthPort’s re-acquisition Vic Manuel on Monday as teams continue to fortify their rosters for the import-laden Philippine Basketball Association (PBA) Governors’ Cup. Neither Santos, called the “Spiderman” for his long-armed and long-legged 6-foot-4 physique, nor Manuel, dubbed the “Muscle Man” for his burly also 6-foot-4 frame, replied to BusinessMirror’s messages or returned calls.

“What can I say? It’s a management call. It’s part of the players’ life that he might transfer from one team to another without even knowing it,” said Danny Espiritu, both players’ agent. “That’s the right of the teams, so we have to move on and after this, let’s wait on what’s next in the careers of these players.”

Their coaches—San Miguel Beer’s Leo Austria and NorthPort’s Pido Jarencio—were also silent on the trade.

Santos, 40, played for 11 years with San Miguel Beer and won nine PBA championships including two missed grand slams in the 2017 and 2019. He was drafted second overall by the Air21

Express in 2006 before being sent to San Miguel Beer in a trade in 2009.

Santos has career averages of 13.9 points, 8.2 rebounds and 1.5 assists in 14 seasons. In the last Philippine Cup, the former Far Eastern University standout averaged 12.8 points, 8.7 rebounds, 1.8 assists and 1.7 blocks in 13 games.

Manuel, on the other hand, averaged 11.5 points and 4.5 rebounds in nine years capped by a breakthrough season with Alaska in the 2017 season when he averaged 16 points. In the last conference, Manuel tallied 12.8 points, 5.2 rebounds and 1.4 assists in his brief stint with the Phoenix Fuel Masters.

The 34-year-old Manuel was surprised with the trade which was dealt only 48 hours after he was traded by Phoenix to NorthPort with Michael Calisaan for Sean Anthony and Sean Manganti.

CHANELLE ACE BEFORE STORM

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Avaricio got a big boost after scoring a hole-in-one during yesterday’s practice round. The Alabama State U product used a Ping 8-iron and Pro-V1 No. 3 ball in acing the 128-yard No. 9.

Ikeda, who won at the adjacent Midlands course via sudden death over Pauline del Rosario in 2019, rallied to finish third at Aoki while Avaricio, who had hoped for a top podium finish after placing second to Princess Superal at Sherwood Hills and Eagle Ridge-Norman before the LPGT went on another break last July, came out of nowhere to snare fourth place.

Marvi Monsalve, Sunshine Baraquiel and Daniella Uy are all due for a big finish along with former leg winner Sarah Ababa, Lovelyn Guioguio, Pamela Mariano, Apple Fudolin, Sheryl Villasensio and Florence Bisera.

Gretchen Villacencio, whose best finish was runner-up to Superal at Riviera in 2018, rejoins the tour after missing last week’s action, eager to spring a surprise in the 54-hole tournament held under strict health and safety protocols.

Korean Jane Jeong is also out to make a mark in her pro debut.

Focus will also be on the amateurs with Singson hoping to come out stronger and tougher from last week’s late stumble, along with Laurea Duque and Burberry Zhang.

HE ladies of the Philippine Golf Tour (PGT) get into high gear after a virtual break-in at Eagle Ridge last week following a long layoff as they resume their spirited chase for top Ladies PGT honors in the International Container Terminal Services Inc. (ICTSI) Tagaytay Highlands Ladies Challenge starting Tuesday in Tagaytay City.

It will be a true test in the next three days as the tricky Highlands course offers practically all the elements needed to challenge not only the bidders’ shot-making skills and mental toughness but also their endurance given the layout’s up-anddown makeup and contours, hazards and putting surface.

Some holes are also exposed to winds whipping in off all sides.

Harmie Constantino will be the marked player, having captured the ICTSI Aoki crown four days ago on amateur Mafy Singson’s late mishap while Chihiro Ikeda and Chanelle Avaricio hope to ride the momentum of their strong finishes to bolster their respective title drive in the P750,000 championship put up by ICTSI.

CHANELLE AVARICIO aces the 128-yard No. 9 of Tagaytay Highlands during a practice round on Monday. She uses a Ping 8-iron and Pro-V1 No. 3.

Pilipinas Para Games online chessfest set

M SAN MIGUEL Beer trades Arwind Santos with NorthPort’s Vic Manuel.

ORE than 150 para athletes will compete in the Philippine Sport Commission (PSC)-Pilipinas Para Games (PPG) Online Chess Competition which starts on November 19.

“We are launching this project to address the need for a truly comprehensive grassroots sports development program for our para athletes and continuously harness their full potential,” PSC Oversight Commissioner for para-athletes Arnold Agustin said.

Originally staged in three regional legs, the online competition will now be held in one nationwide event in six categories namely—Visually

Impaired B1 Completely Blind Men, Visually Impaired B1 Completely Blind Women, Visually Impaired B2 Partially Blind Men, Visually Impaired B2 Partially Blind Women, and Physically Impaired Men and Physically Impaired Women.

The PPG is also held in partnership with the Philippine Paralympic Committee and the Integrated Philippine Association of Optometrists on the classification of registered para-athletes.

Competition starts on November 19 via Zoom, from 8 a.m. to 5 p.m., and will conclude on November 21. Winners will receive medals, certificates of excellence and cash incentives.

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Howl Before You Eat! AKEEM “THE WOLF” SCOTT has been around the game for a long time. From High Point University in North Carolina to playing guard for the Danang Dragons in the Vietnam Basketball Association (VBA).

Either coaching or working as a team executive is in his future, Akeem is in no hurry to hang ‘em up. He’s 38

To prepare the national para coaches and technical officials for this competition, a Para Chess Online Technical Workshop started November 7. Grandmasters Eugene Torre, Thomas Luther and Jayson Gonzales and International Arbiters Casto Abundo and James Infiesto served as resource speakers.

“In a pandemic, we are focusing on chess as it appears to be one of the best solutions for our para-athletes to get themselves going again in sports,” Agustin said.

Registered para athletes could send their requirements to pilipinasparagames@gmail.com and its official Facebook page. The official list of participants will be announced on November 12.

of the Los Angeles Marathon in Los Angeles on Sunday. The race traditionally takes place in March. It returns to that spot next year. AP

Besprens, Batangueños triumph at Subic gym

he discusses his plans following his huge upset of previously unbeaten Puerto Rican Carlos Carballo in their 10-round fight at the Madison Square Garden in New York last week.

The 1 a.m. session is presented

by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp.

The weekly Forum is being livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

years old and takes care of his body, saying that he can play for a few more years.

As a result of the pandemic, the VBA was forced to cancel its season prompting “The Wolf” to look at other options. He has entered his name into the Indonesian league draft and we wish him the best of luck.

Scott has been scoring champion and he’s been defensive player of the year in leagues in Asia and South America. Scott is as aggressive in defense as he is in scoring. Two-way players give coaches plenty of options, flexibility and versatility.

Akeem’s dream team will hypothetically and ideally feature a big man on offense surrounded by shooters similar to the Houston Rockets of the 1990s with Akeem’s near namesake, Hakeem Olajuwon, and the Orlando Magic teams led by Dwight Howard in the late 2000s.

Scott also plied his trade in the ASEAN Basketball League or the ABL, playing for the Saigon Heat as their best perimeter defender and in tandem with then with now TNT’s explosive rookie Mikey Williams giving their rivals fits on both sides of the court.

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OUTHEAST Asian Games gold medalists Junna Tsukii and Jamie Lim and bronze medalists Sarah Pangilinan and Joco Vasquez will compete in the World Karate Federation World Championships set from November 16 to 21 in the Hamdan Sports Complex bubble in Dubai, United Arab Emirates.

Karate Pilipinas President Ricky Lim said the lean but mean team would be vying against the world’s best but hopes that world No. 2 Tsukii (women’s -50 kgs) and Lim (women’s +61 kg) could bring their kumite gold medal-winning act from the 2019 SEA Games to Dubai.

Lim said that kata artists Pangilinan and Vasquez also stand a chance for a podium finish after earning productive experiences from the SEA Games two years ago and at the Tokyo Olympics qualifier in Paris in June.

“I have high hopes that we can have our very own first world champion [in karate],” Lim said. “I am a little bit confident now that we can achieve this and hoping Tsukii and even Jamie [Lim] could become a world champion.”

Jamie Lim and Vasquez have exited the Baguio City training bubble to prepare for their trip, while Tsukii will be flying to Dubai from her base in Serbia and Pangilinan from Japan.

The will be coached by Turkish Okay Arpa (kumite) and Chino Veguillas (kata).

Ricky Lim said Karate Pilipinas will also be recognized as a regular member in the international federation’s world congress.

Fifteen karatekas and five coaches remain in the Baguio City bubble as they prepare for the Asian championships from December 19 to 22 in Almaty, Kazakhstan. Josef Ramos

OUTRUNNING COVID-19 Runners start the 36th running

PBA, Sultan in forum

EADERS of the Philippine Basketball Association (PBA) and world bantamweight contender Jonas Sultan make up an interesting two-part session at the resumption of the online Philippine Sportswriters Association (PSA) Forum on Tuesday.

PBA Commissioner Willie Marcial and Chairman Ricky Vargas will open the public sports program when they talk about the coming Governors Cup and the inaugural 3x3 on November 20 at the Ynares Sports Center in Pasig City.

Sultan caps the second part as

Four PHL karatekas vie in Dubai worlds

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What is Howl Before You Eat? According to Akeem’s web site, howlbeforeyoueat.com, “This story begins several years ago, in Margarita Island, Venezuela, while playing for the Guaquiries organization. One day, while in practice I’m running up + down the court going hard on both offense + defense when the Coach got excited and began pointing + screaming at me “El Lobo! El Lobo!” which in Spanish is “The Wolf!, The Wolf!” It felt natural since I had already, at that point taken a liking to the demeanor of wolves.

As a pack animal, each wolf plays a vital role in the success of the groups survival. Similarly on a team, it’s imperative to know + understand your role. Whether it be defending the other team’s best player, supporting those around you + waiting for your moment, or being the go-to leader. There is a wolf inside each of us.”

Usually, wolves attack in packs. They swarm you and blitz through strength in numbers. Talking to “El Lobo” you get the sense that he gives 100 percent in everything that he does whether big or small, whether easy or difficult, whether defense or offense, El Lobo is relentless.

Howl Before You Eat indeed.

UEVA ECIJA Besprens bounced back with a 79-76 overtime win over Medical Depot while Mtrans Batangas City snapped a three game skid Sunday in the FilBasket Subic Championship at the Subic Gym. Nueva Ecija banked on the heroics of Renz Palma and Mark Cruz in the last 40 seconds to recover from its 96-91 defeat to Muntinlupa Thursday and improve to a 4-3 winloss record at solo fourth.

Palma brought the game into a 76-all tie with a driving layup before Cruz drained three of his four charities to steer Nueva Ecija to victory.

Cruz finished with 14 points and eight rebounds while Palma chipped in 13 points, eight boards and six assists.

Simon Camacho scored 15 points and 11 rebounds in a losing effort for Medical Depot, who fell to 3-3 in the middle standings.

Meanwhile, Mtrans Batangas smashed the Muntinlupa Defenders, 90-77, to tie with Medical Depot, Pasig-Sta. Lucia and Burlington EOG Sports at 3-3.

Mtrans whipped up a third-quarter storm by outscoring Muntinlupa, 27-16, to turn its 47-45 halftime deficit to a 72-63 lead for good.

Jeff Viernes powered Mtrans with 16 points highlighted by four triples, while Mon Rogado drilled 16 points and hauled 12 rebounds.

Adi Santo and Andrian Celada contributed 13 and 12 points for Mtrans, who also took advantage of Muntinlupa’s 17 turnovers by converting it to 28 points.

Muntinlupa fell deeper into the cellar with its sixth straight defeat in as many outings.

In the other match, Pasig-Sta. Lucia Realtors smothered FSD Makati Army, 84-64, for 3-3.

Justin Arana shone for Pasig with 21 points in a 9-of-12 field goal shooting while grabbing 10 boards in 17 minutes of action.

Jopher Custodio, Jess Villahermosa and Helino Francisco combined for 43 points but their efforts weren’t enough as FSD Makati slipped to 1-5.