BusinessMirror November 24, 2021

Citi PHL exec sees recovery mode in ’22

By Bianca Cuaresma @BcuaresmaBM

T

HE Philippines is expected to recover from the negative economic effects of the pandemic next year, as deals and credit activity are expected to pick up in 2022, officials from foreign bank Citi said in a virtual briefing on Tuesday.

Citi Philippines Corporate Bank Head Fernando Fleury said the bank expects deal activity to further pick up in 2022 with opportunistic and cost-effective

Rotary Club Of Manila Journalism Awards

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

financings to support growth.

According to Fleury, both multinational and local companies are expected to experience tailwinds from spending across most industries, further supporting balance sheets, with financial sponsors expected to capitalize on more local investment opportunities. This will give rise to more deal opportunities.

“Filipino corporates continue to expand in the region and globally, and Citi is very well positioned to support them from their treasury needs to strategic

advisory,” Fleury said.

“We will continue to collaborate and problem-solve, and work tirelessly on behalf of our corporate, financial institution, and public sector clients to deliver a range of strategic corporate finance and advisory solutions that meet their needs, no matter how complex,” he added.

The Citi official said infrastructure continues to be a big area of focus for many of their clients, especially in the digital space. This includes the building of towers, data centers and fiber

networks. They are also seeing the quick rise of fintech outfits and digital banks.

Meanwhile, Citi Asia Pacific Head of Banking, Capital Markets and Advisory, Jan Metzger, said Citi’s continues to be committed to the Philippine market despite announcing earlier this year that it is closing its retail segment in the country.

Metzger said Citi Philippines remains to be one of their fastest-growing markets for Banking, Capital Markets and Advisory and will continue to support financing of local firms.

BusinessMirror

ejap journalism awards

business news source of the year (2017, 2018) DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

A broader look at today’s business

www.businessmirror.com.ph

n Wednesday, November 24, 2021 Vol. 17 No. 47

P25.00 nationwide | 2 sections 20 pages | 7 days a week

BEARISH MOOD, JITTERS HOUND JOBS RECOVERY

President Duterte led the recent inspection of development projects in General Santos City, including the General Santos Airport and the seaport—seen as a showcase of how transportation initiatives in the aviation and maritime sectors can bring economic and employment opportunities for Filipinos. Joining him are (from left) Sen. Christopher “Bong” Go, Transportation Secretary Art Tugade and Civil Aviation Authority of the Philippines (CAAP) Director General Jim Sydiongco. Not in photo is Philippine Ports Authority (PPA) chief Jay Santiago. PHOTOS FROM DEPT. OF TRANSPORTATION

By Cai U. Ordinario

N

@caiordinario

OT all jobs lost during the pandemic are bound to return, according to an executive of the Washington-based multilateral development bank due to low confidence and high uncertainty, the World Bank Group.

In a World Bank Blog, Director of Development Policy and Partnerships Mari Elka Pangestu said jobs have started coming back after last year but the uptick is quite slow. She said

firms reducing hours or wages now account for 32 percent of total, dow n from 4 4 percent early in the crisis.

See “Jobs,” A2

FIRMS RECKONING WITH SOCIETY’S ‘PAIN POINTS’

I

NCOME inequality is no longer a “taboo” subject for many of the world’s companies as inclusive business models have become buzz words in boardrooms across the globe.

In a forum on Tuesday, Makati Business Club Co-Vice Chairman and Ayala Corp.

Chairman and CEO Jaime Augusto Zobel de Ayala said back in the 1980s when he was in business school, inequality “was not a topic of conversation.”

Aya l a sa id even as fa r back as 50 years ago, the role

of corporations as agents of social change was unheard of. But now, addressing society’s pain points has become mainstream.

“In fact, it was the exact opposite. Some people would look down on a role that business would play that was addressing pain points in society,” Ayala said. He said the shift that recently happened to corporations worldwide was fascinating, especially See “Firms,” A2

Private sector wants to use Covid jab stock for boosters

By Tyrone Jasper C. Piad @Tyronepiad

S

EVER AL business groups asked the government to allow the private sector to use its Covid-19 vaccines as booster shots for employees and their families.

In a statement on Tuesday, the private sector groups said that boosters are a must in order to avoid another strict lockdown measure as vaccine efficacy wanes after six months.

“We fully understand the need to prioritize certain sectors when

vaccines are scarce, but the government has announced that its stockpile of vaccines has now reached close to 60 million and continues to increase as the vaccines are arriving faster than they can be dispensed,” the statement read.

“We no longer have a shortage, and with such a large stockpile, we risk having vaccines expire and go to waste,” it added.

The private sector groups said they have helped the government in purchasing and administering Covid-19 vaccines “as many See “Boosters,” A2

PESO exchange rates n US 50.6620 n japan 0.4411 n UK 67.8769 n HK 6.5037 n CHINA 7.9333 n singapore 37.1531 n australia 36.5932 n EU 56.9340 n SAUDI arabia 13.5059 Source: BSP (23 November 2021)

BusinessMirror Tourism players rap ‘balikbayan’ testing, quarantine release delays

By Ma. Stella F. Arnaldo @akosistellaBM

www.businessmirror.com.ph

Wednesday, November 24, 2021

A2

Special to the BusinessMirror

T

OURISM stakeholders are urging the Department of Transportation (DOTr) to increase the number of accredited health facilities at the Ninoy Aquino International Airport (Naia) to fast-track the Covid-testing of arriving balikbayans (homecoming Filipinos).

Tourism Congress of the Philippines President Jose C. Clemente III told the BusinessMirror he made this request to the Department of Tourism (DOT), which facilitated a meeting with DOTr’s One Stop Shop (OSS) group to discuss the issue. “I’ve received several reports of balikbayans getting Covid-tested on the sixth day of their hotel quarantine, instead of the fifth day, as the InterAgency Task Force on the Management of Emerging Infectious Diseases [IATF] had ordered.”

Firms. . .

Continued from A1

since inequality and pain points in society were initially thought of as a concern only of emerging market economies.

Meredith Sumpter, the CEO of the Council for Inclusive Capitalism, agreed with this and said the world finds itself at an inflection point that is projected to last years.

This “broad inflection point,” Sumpter said, will redefine not only how corporations behave but also change the

At present, only two medical companies are accredited at the Naia to test passengers for Covid-19 at quarantine facilities: Detoxicare Molecular Labs of Philippine Airlines, and the Philippine Airport Diagnostic Laboratory. Passengers are supposed to book their RT-PCR tests and pay for them online, prior to their departure from their host countries.

In previous IATF rules, vaccinated balikbayans from Yellow List countries like the United States and Canada were supposed to quarantine in a hotel for five days, get tested on the fifth day, and leave their hotel the next day after receiving a negative test result.

Clemente said, “To ease the burden on the two currently accredited RT-PCR testing labs, we asked OSS if tour operators could directly engage the services of testing labs and package this in our services to our clients. The OSS responded that we could do this as long as the labs fulfill the requirements.”

He added that increasing the number of accredited Covid testers at Naia is “vital to the quick processing of our balikbayans, so they can join their families more quickly after the mandated hotel quarantine.”

He noted, “We are already receiving an increasing number of balikbayan arrivals who are home for the holidays.” The passenger-arrivals cap at Naia has already been increased to 4,000 a day.

There are currently 122 facilities and laboratories accredited by the Department of Health for Covid testing in the National Capital Region.

world’s economic system. It took two to three decades for the 20th century economic system and the world was already poised to begin a 21st century economic system, she said.

This new economic system, Sumpter said, will see the rise of Asia. This will be fueled by the rapid growth of the Asian middle class whose needs have to be met not only by governments but also the private sector.

economies. This, Sumpter said, cannot be addressed by governments alone.

Addressing inequality, she said, will require a lot of creativity which the private sector can provide. Sumpter said the private sector can find ways to meet the needs of the population while attaining profitability. “ T he tr ig ger points for societ y are changing so much that you can talk about healthy growth rates and you can have healthy growth rates in both the US and the Philippines. But a healthy national growth rate doesn’t mean that everyone who is working to

Not government alone This means narrowing inequality in order for more people to participate in

Lengthy list of requirements In the early days of the pandemic lockdown, many hotels actually arranged for the RT-PCR testing of their arriving guests for quarantine, and included this service in the room rate package. The guests were picked up by hotel car at the Naia, brought to the hotel overnight, then to the testing facility the next day, and back to the

hotel. The guests continued their quarantine until they received a negative test result.

Separately, DOT Undersecretary for Legal Affairs Edwin R. Enrile said, “We are supporting the accreditation of more RT-PCR testers that can be used by arriving passengers.”

He added, “The DOTr-OSS group is generally open to other RT-PCR testers as long as they comply [with the requirements for accreditation]. There are just more requirements of the Covid testing facility, as explained by OSS such as double swabbing [e.g. one swab to determine positivity, one swab sample to do genome sequencing to determine Covid variant in case the passenger is positive].”

He said the TCP already has a list of requirements for other health facilities to be accredited. Clemente said the requirements were rather lengthy; among them, the testing facility should have the ability to hook up to the central data base of the OSS. The quarantine period of vaccinated balikbayans from Yellow List countries has been further cut to three days as of November 22, 2021, as long as they present a negative RT-PCR result from a test taken 72 hours prior to departure.

provide inputs into that economy are actually being included in that growth,” Sumpter said.

Adopting inclusive business models means taking the Sustainable Development Goals (SDGs) to heart. This means taking care not only of people and economies but also the planet.

The 17 SDGs were adopted in September 2015 by around 193 United Nation membercountries like the Philippines by 2030. The Global Goals have around 169 targets w ith 230 global indicators adopted si x years ago.

Part of the goals are those that will help the world adapt and mitigate the impacts of climate change. This has given rise to the Paris agreement set at the Conference of Parties, where countries recently committed to adopt aggressive policies to cut greenhouse gas emissions.

Many countries have committed to “net zero”— to bring down carbon emissions to zero. This, Sumpter said, could lead to greater inequality, thus the need for companies to subscribe to the “ just transition.”

Such just transition could render many workers jobless, starting with those in the fossil fuel industry. In many parts of the US, there are also small towns that depend on the oil drilling industry to keep their communities alive.

Without a just transition, Sumpter said, the affected people will fall behind. “When that industry goes away, communities will dry up and there’s a real social concern at the core of that transition.

Even so we’ve got to transition. The climate is telling us, we have no choice.”

“As you’re designing your transition plans, you need to think about the people who are going to be impacted and that is going to be [crucial]. If you don’t, we’re going to be increasing inequality,” Sumpter added.

While corporations were “on board” with the idea of making a just transition, Sumpter said, many found it difficult to make concrete actions that would be deemed part of a just transition.

Sumpter observed that while governments and civil societies were well briefed on how to make a just transition, there “was nothing written” for the private sector. Companies lacked the information and concrete examples of how to adopt just transition in their operations.

This, she said, is where the 11-month old Council for Inclusive Capitalism has been helping. The knowledge sharing that happens between the world’s CEOs can provide insights on going about a just transition.

Sumpter said these ideas may not be implementable in all companies located in countries worldwide, but CEOs can consider them and tweak them to fit their unique circumstances.

“The council is doing such a great job, number one, in creating coalitions of the willing as they say; and number two, it’s just a great learning platform because everybody has new ideas of how to achieve these things and suddenly you get this movement,” Ayala said.

“What you’re doing in the council is really fundamentally building coalitions and cooperation between entities that generally have not done and then being a source of information for how to address these problems is an extraordinary initiative,” he added. Cai U. Ordinario

Jobs. . .

Continued from A1

In the country, data from the Philippine Statistics Authority (PSA) showed 34.9 percent worked for less than 40 hours in September when the average for 2020 was at 60 percent. Some 8.9 percent of workers were unemployed in September, slightly lower than the 10.3 percent recorded in 2020.

“The sluggish recovery in employment is not explained by increased automation or digital adoption levels—but rather, a still heightened sense of uncertainty among businesses,” Pangestu said.

“This suggests that, without public policy action, not all jobs lost during the pandemic may come back, even as sales trend back to their precrisis levels,” she added.

The uptick in business activities, Pangestu said, is also not enough to persuade firms to employ more people and even adopt digital solutions. She said this was mainly due to the financial troubles of many firms.

While 37 percent of firms may have recovered from the pandemic, 30 percent of the total, she noted, were “in arrears or likely to fall into arrears.”

Pangestu said governments must extend these companies help by injecting not only capital but also confidence. This can be done by timely communication of eligibility, duration, and objectives of assistance programs.

“This also means that we must continue to collect and analyze data on the impact of the crisis on businesses and policy responses amidst an ongoing pandemic to better understand what is needed, and monitor the effectiveness of the assistance program,” she said.

U-shaped recovery Pangestu said, however, that it is encouraging to know that while sales were still 28 percent below prepandemic levels, it is significantly higher than the contraction of 41 percent last year, suggesting a U-shaped recovery.

Exporters are also recovering faster than other firms, she added. This, despite noting that their sales remain below prepandemic levels.

Earlier, PSA data showed the country’s GDP in the third quarter reached P4.429 trillion. National Statistician Claire Dennis S. Mapa said this is P295.1 billion higher than the third quarter 2020 GDP but lower by P207.8 billion than the second quarter of 2021.

Data also showed the GDP amounted to P13.323 trillion in the January to September period. This means, Mapa said, the economy was still 5.7 percent below its prepandemic growth.

He said in 2019, GDP in the January to September period reached P14.125 trillion—or around P801.219 billion higher than the GDP in 2021 during the same period.

The country’s prepandemic GDP in 2019 was also P1.421 trillion higher than the P12.7 trillion posted in the same period of 2020.

“For 2019, the first 9 months of 2019, our GDP was estimated to be 14.1 trillion. So comparing our nine months 2021 performance, versus the prepandemic of 2019, we are still down by about 5.7 percent,” Mapa explained.

Despite being below prepandemic level, Chua said GDP growth is on track to attain the high end of the government’s GDP targets this year, pegged at 4 to 5 percent by year-end.

Mapa said in order to attain the low end of the government’s target, the country’s GDP only needs to grow by 1.7 percent in the last quarter of the year. To achieve the high end of the target, the country needs a GDP growth of 5.3 percent.

Chua said the remaining eight months of the Duterte administration will see the government working toward making the country resilient to Covid-19.

He said the government is bent on implementing policies that will ensure the economy returns to the “path of rapid and more inclusive growth.”

Boosters. . .

Continued from A1

as possible as soon as possible” even during the scarcity of supply.

Now that there is an oversupply of vaccines, the business groups said they hope that their stock will be used to take care of their employees and dependents.

The signatories include ACI Philippines, Association of Certified Public Accountants in Public Practice, Canadian Chamber of Commerce of the Philippines, Cebu Business Club, Cebu Leads Foundation, Chamber of Thrift Banks, Cibi Foundation Inc., European Chamber of Commerce of the Philippines, Financial Executives Institute of the Philippines and Federation of Filipino Chinese Chambers of Commerce and Industry Inc. In addition, Federation of Indian Chambers of Commerce of Philippines Inc., Investment House Association of the Philippines, IT and Business Process Association of the Philippines, Intellectual Property Association of the Philippines, Management Association of the Philippines, Money Market Association of the Philippines, Makati Business Club and Nordic Chamber of Commerce of the Philippines Inc. signed the joint statement.

Other parties joining the call are Organization of Socialized Housing Developers of the Philippines, Philippine Center for Entrepreneurship, Philippine Life Insurance Association, Procurement and Supply Institute of Asia, Shareholders’ Association of the Philippines, Spanish Chamber of Commerce in the Philippines, Semiconductor and Electronics Industries in the Philippines Inc. and Tax Management Association of the Philippines.

The Nation BusinessMirror

www.businessmirror.com.ph

OFW party-list hits ‘pricey’ passport filing fee in Italy

By Malou Talosig-Bartolome

R

ENEWING Philippine passports coursed through outsourcing companies in eight cities in the Middle East, Europe, Asia and the US now costs between P4,900 and P5,300, and OFW advocates in Italy are complaining that they could not afford it.

The Department of Foreign Affairs confirmed the additional costs that would be charged to OFWs who would renew their passports in a number of embassies and consulates via outsourced companies but application to these companies is only “optional and voluntary.”

The Italy chapter of Ako OFW party-list criticized the Philippine Embassy in Rome for “relinquishing its duty to process the passports” to outsourcing company, the BLS International Company.

According to the November 11 advisory of the Philippine Embassy in Rome, Filipinos who opt to renew their passports via BLS International will be charged 35 Euros (P1,993) for convenience fee, and 4.5 Euros (P256) for revolving fund. This will be in addition to the regular charge of passport renewal of 54 Euro (P3,075), thus the total cost of passport renewal would be 93.5 Euro (P5,324).

“Instead of passing the buck to a third party to handle the passport processing the embassy should have just hired additional personnel to handle passport renewals and avoid the additional charges that is being charged by the passport center located in the heart of Rome,” Josephine Borja Duque, country chairperson of the AKO-OFW party-list chapter in Italy, said in a news statement.

DFA Assistant Secretary for Consular Affairs Senen Mangalile clarified that the e-Passport Renewal Center (PARC) offered to OFWs are “optional” and “voluntary.”

“Our embassies and consulates will continue to accept applications for renewal,” Mangalile told the BusinessMirror.

When reached for comment, BLS International said the Philippine Embassy in Rome hired their services “to face the administrative process of the application” brought about the “difficulties in managing such a high amount of applicants.”

“As we are a private company we charge 35 Euro for administrative fees plus 2 Euro of SMS service. The renewal of the passport fee is 58.50 Euro as decided by the Minister of Foreign Affairs of the Philippines government and goes directly to the Philippine Embassy,” BLS International explained.

Aside from Rome, the DFA has also opened PARC program at the Philippine embassies and consulates in Abu Dhabi and Dubai in UAE, Riyadh and Jeddah in Saudi Arabia, Doha in Qatar, Los Angeles in California, USA, and Kuala Lumpur in Malaysia starting 2019.

“We’re finding ways to increase capacity and offer more passport appointment slots to the public. One way we can do that is through the PARC program,” he explained.

The outsourced company in UAE, Saudi Arabia and LA is Visa Facilitation Services (VFS) Global. BLS handles passport renewals in Doha, Qatar and in Kuala Lumpur, Malaysia.

In UAE, passport renewal convenience fee charged by VFS Global is AED 91.75 (P1,266.93) and passport revolving fund is AED 20 (P276). Regular passport renewal costs AED 240 (3,314). Total cost for passport renewals in UAE—around AED 351 (P4,856).

Passport renewal convenience fee charged by VFS Global in Riyadh and Jeddah, meanwhile, is a little bit higher compared to UAE—i.e., SAR 103 (P1,391). With passport revolving fund pegged at SAR 20 (P270) and regular passport renewal at SAR 240, the cost of passport renewal through VFS Global in Saudi Arabia is SAR 363 (P4,905.11).

VFS service fee in Los Angeles is $45 (P2,250) and does not charge for revolving fund. Regular renewal fee is (P3,250).

Meanwhile, the total cost for the renewal of passports in Qatar via BLS is QR 351 (P4,889)—broken down to convenience fee of QR 91 (P1,267), revolving fund of QR 20 (P278.59) and regular passport fee of QR 240 (P3,343).

OFWs in Malaysia, meanwhile, pay MR425 or (P5,144) if they opt to apply to BLS Malaysia. BLS is charging RM 113 (P1,367), plus passport revolving fee RM 24 (P290.50), and passport renewal of RM 288 (P3,486).

Mangalile said these PARCs are only allowed to accept “simple renewal applications.”

The “more complicated” passport applications such as those who applied for the first time, lost passport, and change in surnames due to marriage will be “processed exclusively by our embassies and consulates,” he added.

OFW Advocate and migration expert Emmanuel Geslani, likewise said he is worried about the “secrecy of the data” of OFWs in Italy shared to BLS. The DFA has yet to issues its comment on handling of the data of Filipino applicants who applied via third party.

BBM says he underwent cocaine use testing, but PNP still silent on results

F

ORMER Senator and presidential aspirant Ferdinand “Bongbong” Marcos Jr. said Tuesday he took a cocaine test the day before, and had submitted the results to three government law enforcement agencies.

In a news statement sent to media offices, the presidential aspirant of Partido Federal said, “I really don’t feel that I am the one being alluded to,” apparently referring to President Duterte’s revelation that a presidential aspirant, whom he did not name, was a cocaine addict.

“In spite of that, I believe it is my inherent duty as an aspiring public official to assure my fellow Filipinos that I am against illegal drugs,” Marcos said.

No confirmation from PNP

THE Philippine National Police, however, has not confirmed whether it has already received the reported results of drug tests Marcos Jr. as claimed by the latter.

Marcos Jr. took the drug tests on Monday apparently in response to President Duterte’s earlier claims that a presidential candidate from

a wealthy family is using the illegal drug cocaine and warned Filipinos voters from voting him into office.

The PNP has so far remained silent on Marcos Jr.’s drug tests and its results, although it earlier said that it was supporting calls for candidates to subject themselves to illegal drugs screening.

It also said there is no order for it to compel candidates for a mandatory drug tests.

Anti-drug campaigner

THOUGH Marcos Jr. was not named by the President, some social media memes made thinly veiled references to him.

On Tuesday, Marcos said his strong stance against illegal drugs prompted him to take the “cocaine test yesterday and the result was submitted this morning to the Philippine Drug Enforcement Agency [PDEA], the office of the Chief of the PNP and the National Bureau of Investigation.”

He assured Filipinos, especially supporters of the BBM-Sara Uniteam, “that I am, and will remain, a vigilant anti-illegal drugs campaigner!” With Rene Acosta

Editor: Vittorio V. Vitug • Wednesday, November 24, 2021 A3

Global syndicate could be behind scam text surge, privacy chief says

A

By Tyrone Jasper C. Piad

@TyronePiad

N organized global syndicate is behind the recent spate of spam text messages offering fake and “too good to be true” job opportunities amid the pandemic, the National Privacy Commission (NPC) said on Tuesday.

At the Laging Handa briefing, Privacy Commissioner Raymund Liboro said these messages are just tricking the public into giving out personal information, including their bank account details.

“If our initial findings prove true, that personal data is being exploited by criminals abroad, then this also becomes a matter of national security, which should compel government, the private sector and advocate groups to work hand in hand and take more urgent and concrete action to safeguard,” he said in a separate news statement.

He explained that the scammers’ modus operandi involves the offering of jobs to promote products online. The catch is: the targeted victims must pay initially a fee before getting their commission after-

Senator pushes exploration and maritime studies in disputed WPS

By Butch Fernandez

P

@butchfBM

RODDING scientists and researcherstostepupexplorations in pursuing maritime studies in the West Philippine Sea (WPS) territory, Sen. Panfilo Lacson assured they should feel free to explore the area, along with tourists.

In a news statement issued on Tuesday, Lacson, Partido Reporma chairman and presidential candidate, suggested scientists and researchers could go and explore the main Pag-Asa Island and nearby areas in the WPS to expand their maritime research and even “unear th the ecolog ica l riches these islands can provide the Philippines.”

Interviewed by CNN Philippines’ “The Source,” the senator suggested that the continuing presence of scientists and researchers, and not just Filipinos but also from all nations, will “help preserve the balance of power in the region and make aggressor countries think twice about moving into and claiming these features” in the WPS. L ac son noted t h at ongo ing construction projects on Pag-Asa Island will “allow more people to visit the country’s western front and see for themselves the extent of the Philippines’ natural resources in the area.”

He also listed the recent developments in the remote Philippine territory that now include an improved road network, a deep water port, and the planned expansion of the Pag-Asa airstrip into a bigger runway to accommodate larger aircraft.

The senator’s suggestions dovetailed with the recent announcement by the Duterte administration that it is reactivating the Marine Research Center on Pag-asa Island, noting that the University of the Philippines and the Department of Science and Technology (DOST) are sending a team to the center in January 2022.

“So, aside from sending scientists from UP and DOST to the area, why not invite foreign scientists as well?”

wards, Liboro said.

The NPC chief said that victims would only realize later that they have deposited a significant amount of money already to the bank account of the scammers, who will suddenly disappear with all the money.

Other messages offer passive income opportunities and high-paying jobs, he added.

Liboro advised the public to block the sender and delete the messages. In addition, he said the public must be vigilant when providing consent of access to their personal information as it can be illegally processed.

“If from an unknown number, and with an offer that is too good to be true, it is most probably not true and is a scam,” Liboro said.

He explained that the scam-

mers likely have a database of cellular phone numbers from previous hacking. As such, Liboro said, the NPC is scouring through the dark web if there are illicit sales of the private information.

In relation to this, Liboro said, there is no established direct link yet that the cellular phone numbers were obtained from the contact tracing forms. But he told those managing them to keep the information safe for the protection of the public against scammers.

NPC, to recall, ordered 58 local government units (LGUs) last month to comply with the privacy laws in their enforcement of contact tracing efforts amid the recent reports of smishing attacks.

Liboro said earlier they received reports and complaints from the public regarding the handling of personal data shared in contact tracing. Among these pieces of information include name, contact number and address.

The privacy commissioner said it was important to warn the public about these scams, especially at a time of accelerated digital adoption in shopping, banking and education, among others.

He also reminded that entities guilty of illegal processing of personal data may be punished with

up to 6 years of imprisonment and a fine of up to P500,000.

Working together

NPC said it has summoned the data protection officers of telecommunication firms, e-commerce platforms and banks to address the matter.

These include Globe Telecom, Smart Communications, Dito Telecommunity, Lazada and Shopee.

The privacy watchdog has asked them to report on their spam prevention measures, in addition to their initiatives in countering the surge of scam messages.

“We have summoned them to detail their current and future measures to combat smishing. Ultimately, we want to secure their commitment and focus in fighting these fraudulent practices so we can best strategize how to block these messages and protect our data subjects,” Liboro said.

The NPC aims to discuss potential coordination with the industry players in the matters relating to “exchanging [of] crucial information to prevent the unlawful collection and misuse of personal data.”

“We hope to find areas where the NPC and these industry players can establish a more proactive approach in fighting smishing and other scams, moving forward,” Liboro said.

A4 Wednesday, November 24, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

DENR approves commercial cultivation of agarwood tree

By Jonathan L. Mayuga @jonlmayuga

THE Department of Environment

and Natural Resources (DENR) has approved the commercial propagation of agarwood-producing species like Aquilaria malaccensis.

The granting of the Wildlife Culture Permit, through the regional offices of the DENR to certain companies for the propagation of agarwood using Aquilaria malaccensis, will be allowed but collection of the seeds in the wild is strictly prohibited, Environment Secretary Roy A. Cimatu said in a news statement.

Also called the “wood of the gods” because of its aroma, agarwood is the most expensive wood in the world.

“The DENR is always in the middle of balancing things, from protecting and conserving threatened flora and fauna, making sure that the resources can still be used for our economic development, especially during this crisis, but utilization in a sustainable manner,” Cimatu said.

“Before engaging in this highly regulated lucrative endeavor, interested individuals and private firms are advised to secure all the necessary permits from the DENR.

We must ensure that the source of planting materials is legal and that the propagation of this species is in accordance with the existing rules and regulations,” the DENR chief added.

Agarwood can be derived from the Aquilaria species, which are widely distributed in the Indomalesia region.

Nine of the 21 known Aquilaria species are found in the Philippines, based on an international study titled, “ The Origin and Domestication of Aquilaria, an Important Agarwood-Producing Genus.”

Six species are endemic or found only in the Philippines, while the remaining three are native or indigenous.

Among the native or indigenous species is the Aquilaria malaccensis, which can also be found in other countries, such as Bangladesh, Bhutan, India, Indonesia, Iran, Malaysia, Myanmar, Singapore and Thailand.

The Aquilaria malaccensis, locally known as “lapnisan,” is a major source of agarwood—a resinous heartwood used for perfume and incense.

DENR’s Biod iversit y Ma nagement Bureau (BMB) Director Datu Tungko Saikol, however, said that gathering of seeds and seedlings, agarwood, and other derivatives of Aquilaria malaccensis in the wild for commercial or trade purposes are “not allowed yet pending the population assessment study of the species in the Philippines.”

“Those who are interested to propagate this species of agarwood may apply for a Wildlife Culture Permit from the concerned DENR Regional Office where the farm or plantation site is located. The seedlings should be sourced legally as well,” Saikol said.

“While we allow the importation of the Aquilaria malaccensis seeds through the issuance of CITES or the Convention on In-

ternational Trade in Endangered Species Import Permit by BMB, applying for a CITES Import Permit for seeds of exotic Aquilaria species such as Aquilaria crassna for use in the establishment of plantation in the country is a more tedious process as it requires prior clearance from the DENR Secretary upon recommendation from the Wildlife Management Committee,” the DENR-BMB chief said.

Moreover, a Local Transport Per mit is necessar y “ for the transportation of legally acquired seeds, seedlings, agarwood, and other agarwood by-products and derivatives.”

Saikol expressed hope that the issuance of Wildlife Culture Permit will “contribute in the protection and conservation of Aquilaria malaccensis in the wild and will at the same time provide economic benefits for Filipinos, and eventually, economic development for our country.”

DepEd lauds Senate OK of agency’s budget for ’22

T

HE Department of Education (DepEd) has welcomed the Senate’s approval of the agency’s over P629billion budget for 2022.

Sen. Pia Cayetano, who fervently wished that the pilot face-to-face classes would be expanded, defended the proposed 2022 budget of the DepEd and its attached agencies.

“Children need to be in school. Our job is to make it as safe as possible and to be able to react depending on the situation,” Cayetano said during the marathon hybrid session on Monday.

DepEd, as an agency, is set to receive P629.8 billion from its proposed P17.02trillion budget for next year, according to Undersecretary for Finance Annalyn Sevilla.

“Overall, we have a 6-percent increase compared to this year’s budget. The increase actually is more on the PS or the Personnel Services,” Sevilla said earlier.

DepEd’s 2022 National Expenditure Program (NEP) is composed of P513 billion for PS, P96.6 billion for maintenance and other operating expenses (MOOE), and P19.7 billion for capital outlay.

There was a significant increase in budget allocation for its computerization program (DCP), which aims to provide relevant ICT packages and IT infrastructure in public schools, received P11.3 billion allocation for the 2022 NEP, approximately double the

amount allocated in last year’s General Appropriations Act allocation.

Aside from DCP, Sevilla also shared that the Government Assistance and Subsidies (GAS), including the Senior High School voucher program, and funds for the Operation of Schools (MOOE) received higher funding for next year.

“These are the School MOOE or the budget that will go directly to our schools, and we thank the Department of Budget and Management for increasing the MOOE at the level of 9.41 percent for Senior High School, 7.5 percent for Junior High School, and 6.4 percent for our Elementary Schools,” she added.

The budget for New School Personnel Positions will also enjoy a 31-percent increase for 2022, as P20 billion has been allocated for additional 10,000 teaching items, while the Human Resource Development fund will receive P1.89 billion (+0.12 pecent).

DepEd also appropriated P358 million for the newly created program called the Priority School Health Facilities in response to the Covid-19 pandemic.

However, the department received lower allocations on the repair of school buildings (-78 percent), Gabaldon conservation and restoration (-75 percent), School-Based Feeding Program (-45 percent), acquisition of furniture (-39 percent), flexible learning options (-8.4 percent), and GAS for Private JHS (-5 percent). Claudeth Mocon-Ciriaco

House passes ODA reform bill on 3rd and final reading

T

HE House of Representatives has unanimously approved on third and final reading the measure ensuring the effectiveness of loans and grants from Official Development Assistance (ODA).

Voting 166 affirmative, 0 negative and 0 abstention, lawmakers passed on Monday House Bill 10322 to ensure the effective and efficient utilization of all ODA loans and grants, and maximize the benefits that can be derived from these.

The measure will now be transmitted to the Senate for its own deliberations.

If enacted, the bill will also continue to require that the grant portion of the ODA consist of at least 25 percent of the aid package.

It will also require that the ODA be administered with the specific objective of achieving sustained reduction of poverty and inequality.

The measure will also require studies on the project’s social and economic impact and the consultation of targeted groups.

The bill said a Congressional Oversight Committee will also be created to monitor and ensure proper implementation of the proposed law and review ODA grants and loan agreements entered into by the national government.

It will have the authority to initiate

independent impact studies on ODAfunded projects.

ODAs are concessional financing provided by multilateral banks or foreign governments to poorer countries to promote economic development.

The bill amends Republic Act 8182 or Official Development Assistance Act of 1996 objectives in administering ODA loans to include promoting and achieving sustained reduction of poverty and inequality, supporting enjoyment of human rights, democracy, environmental sustainability, and gender equality.

For his part, House Committee on Ways and Means Chairman Albay Rep. Joey Salceda, principal author of the measure, said his proposal allows the yield on recently-issued government bonds to serve as the discount rate benchmark when estimating the present value of debt service on grants, if such yields are lower than the 10 percent fixed rate set by the National Economic and Development Authority (Neda).

“ODAs are useful when they work for the people. When the terms are fair, the spending is efficient, and the process is accountable and transparent, ODAs are good. This measure aims to keep them good,” Salceda said. Jovee Marie N. Dela Cruz

News BusinessMirror

www.businessmirror.com.ph

Wednesday, November 24, 2021 A5

Military caps Ayungin supply task; House bloc calls for probe T

HE Makabayan bloc has filed a resolution asking the House of Representatives to look into the November 16 Ayungin Shoal incident wherein Chinese Coast Guard vessels blocked and water cannoned Filipino supply boats en route to a supply mission inside the Philippines’ exclusive economic zone.

Secretary Delfin N. Lorenzana said hours after the two boats reached the Sierra Madre. “They are presently unloading personnel and cargo. After a couple of days they will return to Oyster Bay,” the defense chief added, referring to the Philippine Navy’s base in Palawan.

The resupply mission was undertaken after Lorenzana said on Sunday that he had ordered the Armed Forces Western Command to carry out the aborted activity, wherein China’s ambassador in Manila has also assured that Beijing will not interfere in the resupply mission.

Supply mission done, finally

THE military, meanwhile, reported it has completed its resupply mission for its troops aboard the partly sunken BRP Sierra Madre on Tuesday, exactly a week after Chinese Coast Guard vessels attacked with water cannons two Filipino civilian supply boats.

The delivery of supplies apparently went along with the deployment of troops on scheduled rotation aboard the Sierra Madre, which is being used as an outpost by the military in securing the Ayungin Shoal.

“The two civilian resupply boats manned by the Philippine Navy arrived at the Sierra Madre in the Ayungin shoal at 11 a.m. today without any untoward incident,” Defense

PHOTO shows one of the two civilian boats bringing supplies in the resupply mission for troops stationed in the Ayungin Shoal docks beside BRP Sierra Madre. PHOTO FROM DEFENSE SECRETARY DELFIN LORENZANA

DTI working to expand list of US GSP-covered items continued from a12

“RCEP will likewise encourage closer integration of economies and provide a more stable and predictable rules-based system of trade,” the DTI chief said. “Currently, the RCEP is in Senate for concurrence as we expect it to be passed by the end of the year.”

The trade deal is set to enter into force by January next year af-

ter meeting the minimum number of ratification by signatories. As of writing, the Asean Secretariat said that Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, China, Japan, Australia and New Zealand have sent their Instrument of Ratification/Acceptance (IOR/A).

The Philippines, along with In-

donesia, Myanmar, Malaysia and South Korea, have yet to submit their IOR/A. The RCEP region accounts for 29 percent or $25.8 trillion of the global gross domestic product, 30 percent of the world’s population and 25 percent ($12.7 trillion) of global trade in goods and services.

Senators cite options to stop text-scam rise Although telcos have released advisories on how to handle these spam messages, Marcos warns this is “not enough to put an end to the problem.”

She suggested that NTC and NPC, together with telco companies, banks, and online shopping platforms should “develop a system that can block these spam messages so that no one could receive them.”

Meanwhile, Marcos stressed the need to “stop the careless collection of mobile phone numbers for contact tracing purposes by requiring people to list them down on an open information sheet” before being allowed to enter banks, supermarkets, and other business establishments.

She warned that “this practice exposes the public to scammers,” suggesting that businesses must also find a way to do contact tracing more privately, “especially for those whose mobile phones have no app to generate QR codes.”

‘Do Not Call Registry’ law

THE NPC’s effort, together with tel-

cos, to strategize how text spams can be tripped from the carrier’s end is just one of several ways to stop unwanted SMS, Villanueva said.

“Any action from NPC is an administrative remedy. We need legislation and prohibition. A permanent solution requires three legs to stand on,” said Villanueva, chairman of the Senate labor committee.

One option is to pass the No Call, No Text, and No E-mail Registration System Act, which establishes a system of registries for subscribers who shun promotional, solicitation and marketing messages.

“The right of cellphone users not to be disturbed should be legislated,” Villanueva said. The bill will not only respect consumers’ privacy, but compel marketing arms of companies to adopt responsible business practices There should be a law that prohibits non-registered numbers using an automatic dialer or any electronic device that can blast messages to telephone numbers, he said.

The House of Representatives in August this year passed on third and

continued from a12

final reading House Bill 9608, or the proposed No Call, No Text, and No E-mail Registration System Act. The measure has been transmitted to the Senate.

With the pandemic fueling the surge in e-commerce, solicitations are now done online, round the clock, “and one of its variants, robo texts, target a highly-saleable commodity: jobs needed by desperate people,” Villanueva said.

While Congress works on this bill, the government, he said, should go after smugglers of banned text blast machines, a portal device that can transmit up to 100,000 texts an hour.

These machines work by tapping nearby cell towers or function as portable cell sites that can send out messages in bulk but not receive them.

The importation, manufacture, sale and distribution of such equipment are prohibited by the NTC through Memorandum Order 01-02-2013—“Prohibition of Portable Cellular Mobile Repeater and Portable Cell Site Equipment.”

Butch Fernandez

DOTr disputes slow fund use, cites DBM report continued from a12 “This is an acknowledgment of just how fast and efficient we have been utilizing the budget, especially given the conditions imposed by the Covid-19 pandemic,” Transportation Undersecretary for Finance Giovanni Lopez said.

In 2019, the DOTr’s disbursement settled at 74.5 percent, but it dropped to 64.57 percent in 2020 because of the pandemic.

Lopez noted that the lawmakers’ perception of its supposed low disbursement rate is “largely attributable” to financial accounting report standards.

For instance, Lopez explained, the disbursements reflected in the Financial Accountability Report No. 1 do not include loan proceeds disbursements which get booked-up or recorded only upon the issuance by the DBM of the Non-Cash Availment Authority (NCAA).

“To date, we are yet to receive our requested NCAA from DBM totalling around P75 billion which rep-

resents our loan proceeds disbursements for this year and even for prior years’ dating back to 2018,” he said.

Lopez further explained that this perceived low disbursement rate is also attributable to the “no advance payment” policy that the DOTr implemented in 2018. That policy requires the agency to only pay contractors for infrastructure projects after they have achieved at least 20-percent physical accomplishment.

“There were also delays in the release of the DBM of the NCA for all disbursements. Particularly affected by this are locally-funded projects disbursements, which, although already needed for progress billings settlement or fund transfers to our implementation partners, had to be put on hold pending receipt of their covering NCAs,” he said.

Lopez underscored that the DOTr, citing a DBM report, has “a 100 percent rate of NCA utilized vis-a-vis

the amount of NCA released.”

Senators on Monday questioned the “slow” and “dismal” fiscal performance of the DOTr during a budget meeting. They also doubted the absorptive capacity of the agency for new projects due to its “low disbursement rates.”

They also approved a P120billion proposed budget for the DOTr for next year. It is 36 percent higher than the P88 billion allocation for 2021, but significantly P1.5 billion lower than the amount proposed under the General Appropriations Bill and more than P33 billion lower than the National Expenditure Program.

“While the proposed budget for next year is lower than what we have outlined in previous presentations and coordinations, we nevertheless commit to the fullfilllment of our mandate in the remaining term of office with whatever approved budget will be made available,” Lopez said.

Lorenz S. Marasigan

China’s‘aggressionandarrogance’

IN filing House Resolution 2370 last Monday, the Makabayan bloc said the Ayungin Shoal incident is but another manifestation of China’s increasing “aggression and arrogance” in claiming and annexing Philippine waters and territories.

“These past years have witnessed how China converted Philippine seas andfishinggroundsintomilitaryinstallations, how China bullied and threatened Filipino fisherfolk out of their own fishing grounds, and, how China openly plundered or destroyed the country’s maritime resources,” it said.

“The government’s cowardly stance and failure to uphold the country’s own valid and rightful claims in these waters have further emboldened China to conduct itself like an imperial hooligan in the Philippines’sownterritory,”theblocadded.

According to the bloc, the Duterte administration’s “kneel or war policy in dealing with China comes as a thin veil to cover-up his apparent servility to an imperialist power, like China. Countries like Taiwan, Vietnam, Indonesia and other countries have steadfastly opposedChina’sexpansionismwithout resulting to a real threat of invasion or war.” Jovee Marie N. Dela Cruz and Rene Acosta

A6

BusinessMirror

Wednesday, November 24, 2021

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

ACSTREAM MANAGEMENT INC. 2204b/2206, 22/f Pbcom Tower, Ayala Avenue, Bel-air, City Of Makati HO NAM HUNG Mandarin Speaking Online Payment Specialist 1.

Brief Job Description: Assist internal and external customers with questions related to payments.

Basic Qualification: Good oral and written communication skills in Mandarin. Atleast 6 months of related experience in this field Salary Range: Php 30,000 - Php 59,999

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

2.

YU, QINGBIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

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

3.

Brief Job Description: Create specific promotions for affiliate’s

ERWIN SAMPUTRA Bahasa Indonesian Language-officer Fund Management 4.

5.

Brief Job Description: Must ensure their funds reporting requirements are met DESIRA RUTH ASIAN Bahasa Indonesian Language-supervisor Fund Management Brief Job Description: Managing clients; meeting investors to discuss investment strategies

Basic Qualification: degree holder; Must fluently speak Bahasa Indonesian to cater foreign market Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Degree holder in accounting, finance, management; at least 3 years’ experience Salary Range: Php 60,000 - Php 89,999

15.

6.

Brief Job Description: The HSS manager is responsible for arranging, implementing, communicating, monitoring, reporting and maintaining all Health, Safety and Security aspects during the realization of the large complex on- and onshore project.

Basic Qualification: Extensive experience in the international Dredging industry with focus on Health, Safety and Security.

WEERATHUN, BURINSAK Sports Trader - Thai Speaking 7.

Brief Job Description: Coordinate , respond and address inquires of Thai speaking customer

16.

8.

Brief Job Description: Provide support through media review of sports, entertainment and adult video content for Bahasa language NEVINS FERDIAN ADITYA KUMAJAS Senior Process Executive - Data

9.

Brief Job Description: Provide support through media review of sports, entertainment and adult video content for Bahasa Indonesia

Basic Qualification: Typing; Communication Skills; Bahasa Language expertise

17.

18.

10.

11.

12.

Brief Job Description: Prepare Airline and Custom Documentation TIAN, LINCHUAN Chinese Cargo Office Agent Brief Job Description: Prepare Airline and Custom Documentation WANG, HAIXIANG Chinese Cargo Office Agent Brief Job Description: Prepare Airline and Custom Documentation

13.

Brief Job Description: Manage incoming and outgoing calls, chats, and emails

14.

Brief Job Description: To provide and monitoring customer service

Basic Qualification: with 5 years experience as a manager; Business degree or equivalent; with leadership skills; Bilingual English and Mandarin

19.

Brief Job Description: The Mandarin Digital Marketing Officer will be a strategies and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

HONG, CONGYA Mandarin Digital Marketing Officer 20.

Brief Job Description: The Mandarin Digital Marketing Officer will be a strategies and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

LIN, YUEQIN Mandarin Digital Marketing Officer 21.

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing costumer needs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend optimization to Senior Management.

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

Brief Job Description: The Mandarin Digital Marketing Officer will be a strategies and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Basic Qualification: Proven experience as Mandarin Digital Marketing Officer, Excellent communication, interpersonal and presentation skills.

Basic Qualification: Proven experience as Mandarin Digital Marketing Officer, Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as Mandarin Digital Marketing Officer, Excellent communication, interpersonal and presentation skills.

ZHOU, HANGLIN Mandarin Speaking Marketing Specialist 22.

Brief Job Description: Brainstorm & develop ideas for creative marketing campaigns; undertake individual tasks of a marketing plan as assigned; communicate and interpret the needs of client department to the selected Chinese vendor.

PALUKKASSERY VIJAYAKUMAR, VEENAJ Vice President - Global Tco Operations 23.

Basic Qualification: Have skills in Chinese Documentation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have skills in Chinese Documentation

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

LI, SHUYING Chinese Customer Service Representative 24.

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

Brief Job Description: Create and manage product in conjunction with marketing strategies to Korean customer service representative HAN, DONGYOON Korean Customer Service Representative

25.

Brief Job Description: Create and manage product in conjunction with marketing strategies to Korean customer service representative KANG, TAEPUNG Korean Customer Service Representative

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

Basic Qualification: Knowledgeable in managing incoming calls

Basic Qualification: Proven experience as a Site Director or equivalent position, Excellent organizational and leadership abilities

26.

Brief Job Description: Create and manage product in conjunction with marketing strategies to Korean customer service representative KU, KYOUK Korean Customer Service Representative

27.

Brief Job Description: Create and manage product in conjunction with marketing strategies to Korean customer service representative

Basic Qualification: at least college graduate speaks and write fluently (Korean & English)

SUGIKI, EISUKE Assistant Manager For Maintenance 29.

30.

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

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

Basic Qualification: College graduate, advance aircraft technical skills Salary Range: Php 150,000 - Php 499,999

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

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

LAN TIAN ZI XUN INC. Unit 205 2/f Zen Tower, 1111 Natividad Almeda Lopez St., 071, Bgy. 659, Ermita, City Of Manila GAO, YANG Chinese IT Specialist 31.

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices and techniques related to planning and analysis; design; development and implementation; maintenance; support; and management of information technology functions.

HE, ZHIWEN Chinese IT Specialist

32.

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices and techniques related to planning and analysis; design; development and implementation; maintenance; support; and management of information technology functions.

HU, HAIFENG Chinese IT Specialist

33.

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices and techniques related to planning and analysis; design; development and implementation; maintenance; support; and management of information technology functions.

KE, SHENGWANG Chinese IT Specialist

34.

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices and techniques related to planning and analysis; design; development and implementation; maintenance; support; and management of information technology functions.

Basic Qualification: Fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Chinese language (writing and speaking) Salary Range: Php 30,000 - Php 59,999

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

JEONG, YOONSHIK IT Support Specialist 35.

Brief Job Description: IT Support Specialist to provide technical assistance to our staff.

Basic Qualification: Must be Bachelor’s / college degree in any fields, at least 1-2 yeras of working experience in the related position, ability to maintain high level of confidentiality.

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

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Brgy. 076, Pasay City

36.

37.

38.

39.

40.

41.

42.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: at least college graduate speaks and write fluently (Korean & English)

Brief Job Description: Taking the responsibilities of aircraft maintenance for its safe operation including the safety of the ramp area in NAIA

WANG, DONG Chinese Speaking Trade Marketing Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: at least college graduate speaks and write fluently (Korean & English)

Basic Qualification: at least college graduate speaks and write fluently (Korean & English)

KAISER DYNASTY TRADING CORP. Unit 25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: at least college graduate speaks and write fluently (Korean & English)

Brief Job Description: create and manage product in conjunction with marketing strategies to Korean customer service representative

QUALIFICATION AND SALARY RANGE

JAPAN AIRLINES INTERNATIONAL CO. LTD. 2/f Oledan Square, 6788 Ayala Ave., San Lorenzo, City Of Makati

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

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

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

Brief Job Description: Overall responsible for Global TCO Operations of IOPEX, Revenue and Profitability, Capital Expenditure, Budget Management, Business Development and Growth of Operations.

28.

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

Basic Qualification: Bachelor’s degree; experience in sales/ marketing or in a similar.

Role must be fluent in both written and verbal mandarin language

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LEE, SANG MYUNG Korean Customer Service Representative

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

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

Basic Qualification: Have skills in Chinese Documentation Salary Range: Php 30,000 - Php 59,999

No.

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

IOPEX TECHNOLOGIES PHILIPPINES, INC. Unit 12b, 12th Flr, Net Lima Bldg., E Square, 5th Ave. Cor. 26th St., Fort Bonifacio, City Of Taguig

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5, Sta. Agueda Cor. Queensway Pagcor Drive, Sto. Niño, City Of Parañaque

XU, YIJIE Mandarin Customer Service

Brief Job Description: Monitor, review and report on all Marketing activity and result.

DENG, WEIYING Mandarin Digital Marketing Officer

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati SHIH, PIN-JIE a.k.a. SHIH, YU-CHEN Mandarin Speaking Customer Service Representative

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

HECTECHURE CORP. Units A&b 20/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

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

DEXIN INTERNATIONAL IMPORT AND EXPORT CORP. 534 Tomas Mapua St., 029, Bgy. 298, Santa Cruz, City Of Manila CHEN, FENXI Chinese Cargo Office Agent

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

WANG, ALAN Marketing Staff Mandarin Speaking

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Typing; Communication Skills; Bahasa Indonesia expertise

Brief Job Description: Manager to local and foreign companies in the area of financial planning, management and payroll

ZHAO, MINGXIN Customer Service Representative Mandarin Speaking

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig MOKALU, VIRGIN PEARLY Senior Process Executive - Data

Basic Qualification: Proficient in English written and speaking. Graduate of Bachelor’s degree. Must be fluent in Korean Hangul

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

Basic Qualification: Good in statistics and probably, excellent in writing , reading and speaking Thai Bahasa and English Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Operations manager in performing their duties. Ensure proper staffing at all store

LI, YAN Business Development Manager (china Market)

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

CLOVERSENSE TECHNOLOGY INC. 29/f Robinsons Summit Center, 6783 Ayala Center, Bel-air, City Of Makati

QUALIFICATION AND SALARY RANGE

FULL CHARGE SERVICES, INC. U 801 State Center Bldg., 333 Juan Luna St., 027, Brgy. 287, Binondo, City Of Manila

BOSKALIS PHILIPPINES INC. R-5008-b12/f A-place Bldg., Cbp Coral Way Drive, Brgy. 076, Pasay City EVERTSZ, MICHAEL JACOB RAYMOND Health, Safety And Security (HSS) Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

PARK (SPOUSE OF SHIN), JEONGMI Operations Manager

Basic Qualification: Bachelor’s degree in accounting, finance, management or any business course Salary Range: Php 30,000 - Php 59,999

ESTABLISHMENT / ADDRESS

FIRSTJVENTURES INC. Unit No. C3, Hk Sun Plaza Bldg., Macapagal Blvd. St., Barangay 076, Pasay City

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

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati VINCENT CHANDRA Bahasa Indonesian Language-marketing Officer

No.

www.businessmirror.com.ph

43.

LUAN, MINGHUI Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries AUNG AUNG SOE MIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries CHEN, YUJIE Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries HLA MAUNG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries HNIN WAI LWIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries HTET HTET YI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

JIANG, SHAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

KYAW WIN KO Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

44.

45.

46.

47.

48.

49.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, DONG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries NAY LIN AUNG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN TUAN ANH Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries PHON PAUNG NEIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries SU HNIN OO Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries THAN ZAW TUN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries THANDAR LWIN Chinese Customer Service

50.

51.

52.

53.

54.

55.

56.

57.

58.

59.

60.

61.

62.

63.

64.

65.

Brief Job Description: MANAGING INCOMING CALLS AND CUSTOMER SERVICE INQUIRIES THIN NANDAR AYE Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries TIN HLAING AUNG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries VUONG THI LEN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries WANG, BAOPING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries WIN MYO TUN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries XIANG, YAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries YE WIN THAN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries CHEN, CHUNDONG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries JI, BO Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries LI, BODI Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries SHI, MINGKANG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries WU, FENG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, SHILIN Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

ZHAO, SONG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

ZHENG, XU Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: ABLE TO SPEAK, READ, AND WRITE CHINESE LANGUAGE

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

66.

Brief Job Description: Collecting interpreting and reviewing financial information, monitoring and managing budgets

67.

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

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

68.

69.

70.

PHAN THI THAO Chinese Speaking Customer Service Representative 71.

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

72.

73.

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

74.

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

75.

76.

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

Brief Job Description: customer support and data base services

GIAP THI YEN LY Customer Service Representative Brief Job Description: customer support and data base services

MI, MIN Customer Service Representative Brief Job Description: customer support and data base services

ZHANG, LINFENG Customer Service Representative Brief Job Description: Customer support and data base services

Brief Job Description: Confer with management, production and marketing staff to discuss project specs and procedures

SHIBAZAKI, YOHEI Construction Manager 77.

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

DENG, ZHUNCHENG Customer Service Representative

MIAO, SIYU Construction Manager

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

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

Brief Job Description: Confer with management, production and marketing staff to discuss project specs and procedures

TAMURA, DAISUKE Construction Manager 78.

Brief Job Description: Confer with management, production and marketing staff to discuss project specs and procedures

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

YOKOBORI, ISAO Project Manager 79.

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

Basic Qualification: Must be conversant in Chinese Mandarin and English, with 3 years experience in related work.

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

Basic Qualification: fluent in the Bahasa Indonesia language (spoken and written) Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Graduate of any 4-year course, 2+ years of customer service experience in a BPO or Shared Services Environment, Customer Service and Order Management, SAP experience is a must, Business and Conversational language proficiency Spanish & English

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

SUN, DEKE Assistant Project Supervisor

Brief Job Description: Manage and oversees the day-to-day construction management of the project

83.

84.

80.

Brief Job Description: Provide professional end-user support via telephone, email, or web using one or more languages other than English and Filipino. Provide restorative or maintenance actions to resolve end-user problems,

Brief Job Description: preparation, supervision and checking the project of the company

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

Basic Qualification: Able to read & Write, Fluent in English, Proven Experience as Construction Manager Salary Range: Php 90,000 - Php 149,999

85.

QUALIFICATION AND SALARY RANGE

Brief Job Description: preparation, supervision and checking the project of the company

Basic Qualification: Able to work independently as a part of a team Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to work independently as a part of a team Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to work independently as a part of a team Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to work independently as a part of a team Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to work independently as a part of a team Salary Range: Php 30,000 - Php 59,999

TIANYU TECHNOLOGY INC. 15/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati CHAU GIA TOAN IT Support Specialist 86.

Brief Job Description: The IT SUPPORT SPECIALIST is an integral of the company infrastructure, application support and of the IT Division and responsible for providing quality IT Support of enterprise systems throughout the Chinese Clientelle JANICE THAM YU YUIN IT Support Specialist

87.

Brief Job Description: The IT SUPPORT SPECIALIST is an integral of the company infrastructure, application support and of the IT Division and responsible for providing quality IT Support of enterprise systems throughout the Chinese Clientele

Basic Qualification: Fluent in Mandarin, Cantonese, and Fukien language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Mandarin, Cantonese, and Fukien language Salary Range: Php 30,000 - Php 59,999

TOKYO CONSULTING FIRM - PHILIPPINE BRANCH Unit 801 8/f Bank Of Makati Bldg., Ayala Ave. Extn. Cor. Metropolitan Ave., Bel-air, City Of Makati

YOSHIOKA, DAIKI Assistant General Manager 88.

Brief Job Description: Communicate directly Japanese investors and directors especially on the registration, compliance and improvement of their business here in the Philippines.

Basic Qualification: Preferably with experience with executive level documents, transactions and scheduling for Japanese officers; Excellent management, decisionmaking and problem-solving skills; Fluent in Japanese and English (both in written and spoken).

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

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati TRUONG THI KIM NGAN Mandarin Customer Service Specialist 89.

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

Basic Qualification: Proficient in speaking, Reading and Writing Mandarin Salary Range: Php 30,000 - Php 59,999

TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg., 2153 Don Chino Roces Ave., Pio Del Pilar, City Of Makati FAN, YI Chinese Language Customer Service Representative 90.

Brief Job Description: Report on a daily basis operation of call center activities performing customer oriented telephone activities and various background operations duties HAO, LE Chinese Language Customer Service Representative

91.

Brief Job Description: Report on a daily basis operation of call center activities performing customer oriented telephone activities and various background operations duties

Basic Qualification: Proficient in writing, reading and speaking in both English/Bahasa/Thai/ Chinese/Vietnamese/Malay Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in writing, reading and speaking in both English/Bahasa/Thai/ Chinese/Vietnamese/Malay 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 HIMAWAN Indonesian Customer Service Representative 92.

Basic Qualification: Able to read & Write, Fluent in English, Proven Experience as Construction Manager Salary Range: Php 90,000 - Php 149,999

Brief Job Description: preparation, supervision and checking the project of the company ZHUANG, WEI Assistant Project Supervisor

Basic Qualification: knowledgeable in computer application with good oral and written communication skills

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

VIVI NOVELIA Indonesian Customer Service Representative

93.

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

Basic Qualification: Great communication skills and must be fluent in English language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Great communication skills and must be fluent in English language.

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

Basic Qualification: Able to read & Write, Fluent in English, Proven Experience as Construction Manager

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

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

94.

Basic Qualification: Fluent in English & Japanese, Able to read & Write, Proven Experience as Project Manager Salary Range: Php 90,000 - Php 149,999

STEFANINI PHILIPPINES, INC. 3f, 5f, 6f Imet Bpo Tower Metro Bldg., Metrobank Ave. Roxas Blvd., Brgy. 076, Pasay City DELAMOU, CELESTIN Multilingual Helpdesk Technician Support

Brief Job Description: preparation, supervision and checking the project of the company ZHANG, CAIGUANG Assistant Project Supervisor

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

SHIMIZU PHILIPPINE CONTRACTORS, INC. King’s Court Bldg. 1, 5/f 2129 P. Tamo St., San Lorenzo, City Of Makati

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

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

Brief Job Description: preparation, supervision and checking the project of the company

ZHU, NING Assistant Project Supervisor

SA RIVENDELL GLOBAL SUPPORT, INC. Flr. No. 5th & 7th Star Cruises Ce Bldg., Andrews Drive, Newport City St., Brgy. 183, Pasay City

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

81.

RAPOO PRO TECHNOLOGY CORPORATION Unit 8, Robinsons Cybergate Plaza Pioneer, Barangka Ilaya, City Of Mandaluyong

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

Brief Job Description: The Spanish Customer Care Representative will create sales orders from customer purchase orders submitted via phone, fax, email or eCommerce channels, ensure product delivery in accordance with customer requirements and manufacturing capabilities, and invoice the customer properly.

DONG, HONGQIANG Assistant Project Supervisor

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

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

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

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

MARTINEZ GONZALEZ, HUGO EFRAIN Spanish Customer Care Representative

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

Basic Qualification: Knowledgeable in preparing works design

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

THEIDI CONSTRUCTION CORP. Unit 503 East Tower, Psec Exchange Road, San Antonio, City Of Pasig

82.

QIAGEN BUSINESS SERVICES (MANILA), INC. Units A & D 12th Floor, Cyber Sigma, Mckinley West, Lawton Avenue, Fort Bonifacio, City Of Taguig

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

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

Brief Job Description: Ensure that the design has been established

TEE HUI XIN Chinese/Mandarin-language Customer Support Staff

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

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

SUNG, DAEWOONG Temporary Works Designer

No.

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

PROTEGIC CORPORATION Unit 1409, 14f Entrata Urban, Alabang, City Of Muntinlupa

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

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

Brief Job Description: Providing technical support across the company this may be in person or over the phone

Basic Qualification: Knowledge and awareness about computer software or hardware , Mandarin Speaking

POSCO E AND C BRANCH OFFICE 9/f Philamlife Tower, 8767 Paseo De Roxas, Bel-air, City Of Makati

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

QUALIFICATION AND SALARY RANGE

OUTWIT, INC. 2/f Marvin Plaza, 2153 Chino Roces Ave., Pio Del Pilar, City Of Makati

CHIU, CHE-HENG Mandarin Speaking IT Support

A7

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

MORSE TELECOMMUNICATION DEVELOPMENT CORPORATION 29 M Pioneer Woodlands, Tower 4 Edsa Cor. Pioneer, Barangka Ilaya, City Of Mandaluyong

ZHAN, ENCI Finance Officer

No.

Wednesday, November 24, 2021

Basic Qualification: Average written/spoken communication skills in one or more language on top of English. Vocational or Bachelor Degree Graduate.

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

95.

WANG, KUN Logistics Manager

Basic Qualification: Graduate of 4 year course

Brief Job Description: Manages delivery

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

GUO, JIALUO Project Manager

Basic Qualification: Graduate of any four year course

Brief Job Description: Manager project

Salary Range: Php 60,000 - Php 89,999 *Date Generated: Nov 23, 2021

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

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

A8

Wednesday, November 24, 2021

TheWorld BusinessMirror

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

EU wants calm amid Covid-19 protests; rioters called ‘idiots’ C

China targets supporters of Taiwan’s ruling party

T

HE HAGUE, Netherlands— In the face of demonstrations across much of Europe protesting tough Covid-19 measures over the past days, authorities on Monday pleaded for patience, calm and a willingness to get a vaccine shot in the arm as infections spike upward again.

And for those who abused the protests to foment violence, Dutch Prime Minister Mark Rutte just called them “idiots”.

Protest marches from Zagreb to Rome and from Vienna to Brussels and Rotterdam, bringing tens of thousands out, all had one message from a coronavirus-weary crowd—we’ve had enough!

“Not able to work where you want to work, to be where you want to be. That’s not what we stand for, that’s not freedom,” said Eveline Denayer, who was at Sunday’s march in Brussels, which drew a crowd of over 35,000.

“We live in Western Europe and we just want to be free, how we

were before,” she said.

Government leaders and European Union officials all made clear on Monday that a return to bygone days was still out of the question and that the violence at some of the marches was counterproductive.

Much of the discontent, however, is targeted at politicians who had promised that vaccinations would bring freedom. With the Delta variant making sure contagion remains rampant, EU governments are being forced to reimpose constraints and—in some countries—slap tougher restrictions on the non-vaccinated.

“The rising numbers are unfortunately fueling vaccine hesitancy, and we all need to take a firm stand against this,” said EU Health Commissioner Stella Kyriakides. However, she said the spike is mainly to blame on those who refuse to have a shot.

“But now we are facing a pandemic mainly driven by the unvaccinated,” Kyriakides said.

Breakthrough infections and deaths among the vaccinated happen, though at far lower rates, according to officials.

Rutte condemned rioters in Rotterdam and across the Netherlands after coronavirus protests there and in Brussels descended into violence amid simmering anger at lockdown measures being put into place in an attempt to rein in soaring rates of infection.

Late Friday, police in Rotterdam even used live fire to disperse rioters gone amok, and four people suffered gunshot wounds. Altogether in both countries almost 100 people were detained.

“I realize that there are a lot of tensions in society because we have been dealing with all the misery of coronavirus for so long,” Rutte said. But he stressed the rioters were something completely different, producing “a pure explosion of violence directed against our police, against our firefighters, against ambulance drivers.”

Scenes were ugly too at the end of the Brussels protest march, with rioters pelting police, who then

used tear gas and water cannons to break up the crowds.

“Our goal today is to fight against the virus. Please, let us not get incited by a small group which would turn it into a fight against one another,” Belgian Prime Minister Alexander De Croo said.

The protests come as a fourth wave of infections is locking down Austrians and forcing renewed restraints in many European nations on anything from working in the office to drinking at bars.

The Dutch violence came a week into a new partial lockdown in the Netherlands and after an announcement that the government was banning fireworks on New Year’s Eve in an effort to ease the strain on hospital emergency rooms. In riots across the country, youths threw fireworks at police officers.

The EU pointed out that scientific evidence shows that increased vaccinations would contain the crisis and avoid more deaths.

“You know the three words very well—vaccinate, vaccinate, vaccinate,” said spokesman Stefan De Keersmaecker. AP

‘Annoyed’: Austria’s 4th national lockdown dampens holiday mood

V

IENNA—A f ter indu lging in one last night out, Austrians awoke groggily Monday to their fourth national lockdown of this pandemic, cutting short a Christmas season of shared merriment to fight rising coronavirus infections.

In the capital, Vienna, people headed to work, brought children to school or exercised outdoors, more or less normally. This was not the draconian lockdown of the pandemic’s dawn in 2020, when movements were strictly monitored. Police cars circulated Monday, in keeping with government promises to step up controls, but no spot checks were being made.

“I am particularly annoyed by the lockdown,’’ said Georg Huber, a lawyer on his way to the office.

“One should have implemented a mandatory vaccination in the summer, when it turned out it would not be enough to hope that people get there without any coercion. I think the government just overslept.”

Austria has one of the lowest vaccination rates in western Europe, about 66 percent of its population of 8.9 million people, with a vocal minority who refuse to be inoculated.

The government announced a 10-day nationwide lockdown on Friday as the average daily Covid-19 deaths tripled in recent weeks and hospitals in hard-hit states warned that intensive care units were hitting capacity. It

also pledged to be the first European country to mandate vaccines beginning February 1.

Under the lockdown, people can leave their homes only for specific reasons, including buying groceries, going to the doctor or exercising. Day care centers and schools remained open for those who need them, but parents were asked to keep children at home if possible.

The restrictions are likely to be extended, for a total of 20 days, after which the government has indicated plans to open up so many Austrians can celebrate Christmas as normal. Restrictions, however, are expected to remain for the unvaccinated.

At Vienna’s largest vaccine center, the government’s actions were apparently pushing more people to get vaccinated. The daily numbers of vaccinations has grown from 1,000 a day two weeks ago to 12,000 a day this week, with at least 20 percent coming for their first jab. “ T here are some who wa ited to see how it was going w it h t he vacc inat ions, wh ic h is a deeply hu ma n problem,” sa id D r. S u s a n n e D r a p a l i k , t h e chief physician for Samar itans Federat ion, wh ic h is r u nning the center. Others were getting vacc inated so t hey ca n work , such as truck drivers who d r ive t o cou nt r ie s w he re a he a lt h p a s s i s re q u i re d , or ge t t i n g j a b s a he a d of t he Fe b r u a r y 1 m a nd at e. AP

hina said it will punish businesses and political donors with links to individuals supporting Taiwan independence after it fined Taiwanese conglomerate Far Eastern Group. “ Bu si nesses a nd f i n a nc i a l sponsors associated with supporters of Taiwan independence w i l l b e p e n a l i z e d accord i ng to law,” Taiwan Affairs Office spokeswoman Zhu Fenglian told reporters on Monday, according to a statement from her agency.

Zhu said that backers of independence undermine cross-strait relations and risk instability in the region.

Zhu made the remark as she responded to a question about whether the punishment Far Eastern received earlier Monday was connected to China’s efforts to sanction Taiwanese politicians who support independence from the mainland. While Zhu didn’t directly characterize Far Eastern as an associate of pro-independence politicians, she warned that China will never allow individuals and businesses with such views to make profits in China.

The remarks threaten to spook companies with any links to Taiwanese President Tsai Ing-wen and her pro-independence Democratic Progressive Party. Beijing has continuously ratcheted up military, economic and diplomatic pressure on democratically run Taiwan Tsai’s election victory in 2016, moves that have only increased her popularity.

Tsai’s government views Taiwan as an already de facto sovereign nation, although it has stopped short of pushing for a formal independence declaration—a clear red line from Beijing that could trigger an invasion. China has sought to raise the costs for Taiwan’s 24 million residents to support Tsai’s party, with little success: She won the presidential election in 2020 by nearly 20 percentage points, gaining the highest vote share ever for a DPP candidate.

“The current sanction is restricted to Far Eastern Group, and its magnitude does not seem overly costly,” said Yongwook Ryu, assistant professor of East Asian international relations at the National University of Singapore’s Lee Kuan Yew School of Public Policy. “But what is important is its signaling effect both to foreign and Taiwanese businesses as well as to the Chinese public that the Chinese government shall not tolerate any bit of Taiwanese independence movement or support.”

Far Eastern, which has businesses across a range of sectors, has donated to both the DPP and the China-friendly opposition Kuomintang. The company gave about $2 million to Tsai’s party in the run-up to the January 2020 legislative elections, making it the DPP’s biggest donor, according to Taipei-based Wealth

Magazine, which cited statistics posted online by the Taiwanese government.

Tsai Lien-sheng, secretary general at Taiwan’s Chinese National Federation of Industries, said it was inappropriate for China to link legal matters with politics and said the episode could be worrisome for Taiwanese businesspeople.

“Far Eastern has made donations to not only DPP but also to the KMT and other parties,” he said. “This is what it has to do but it doesn’t necessarily mean it supports Taiwan independence.”

‘Sever ties’

In early November, China hit three top Taiwanese politicians with what it said were punishments that could be followed by criminal prosecution, as Beijing seeks to retaliate against Taipei’s overtures for greater international support.

Premier Su Tseng-chang, Foreign Minister Joseph Wu, speaker of the Legislative Yuan, or parliament, You Si-kun, and their relatives are all banned from entering the mainland, Hong Kong and Macau. The three—and any entities affiliated with them— are also prohibited from working with mainland-based organizations and individuals, while companies linked to them are barred from making profits there.

The Communist Party-owned Global Times newspaper claimed Far Eastern had offered financial assistance to Su, who it called a “diehard Taiwan secessionist.”

A number of Far Eastern subsidiaries in China were fined af ter t hey were found to be violating laws and regulations, the official X inhua News Agency reported, though the figure was not disclosed. It cited alleged violations by the group’s textile and cement ventures in environmental protection, land u se, employees’ hea lt h, sa fe production, ta x payment and product quality.

The two subsidiaries affected, Asia Cement Corp. and Far Easter n New Cent u r y Cor p., were fined a total of 88.6 million yuan ($13.9 million), according to separate statements from the companies. Both said their operations in China weren’t impacted in a major way.

R e pres e nt at ives f rom t he two firms said they didn’t have anything to add to their statements. Asia Cement retreated 1.3 percent at the close, while Far Eastern New Centur y lost 1.4 percent.

The fines on Far Eastern companies are more “targeted and precise” moves,” Liu Guoshen, director of the Taiwan Research Institute at Xiamen University in China across the strait. A company, he added, should not be allowed to “make money on the mainland while at the same time hurt people’s feelings.”

Bloomberg News

French Prime Minister Castex tests positive as Covid-19 wave spreads

F

rench Prime Minister Jean Castex tested positive for Covid-19 as a new wave of coronavirus cases spreads across Europe.

Castex will be isolating for 10 days, his office said in a statement.

Although France has not put new restrictions in place like Austria and Germany, the latest wave is hitting the country “at a blazing speed,” government spokesman Ga-

briel Attal said on Sunday.

President Emmanuel Macron’s government is reinforcing health-pass checks in enclosed areas and this week will discuss opening up its booster-shot campaign to more adults, he said.

In neighboring Belgium, Prime Minister Alexander De Croo and several other ministers went into quarantine Monday after meeting with Castex earlier in the day.

De Croo, who is feeling no symptoms, according to a person familiar with the matter, will take another test Wednesday and could end his quarantine if he’s negative.

De Croo last week ordered stricter measures to fight a Covid spike in the country, including mandatory telework four days a week.

Belgium has one of the highest per-capita case rates in

Western Europe.

Austria on Monday went into a new lockdown and Germany said it can’t rule out any measure. In contrast, France has so far ruled out further lockdowns and “massive” work-from-home measures, and is counting on health passes and high vaccination levels to avoid stricter measures ahead of the crucial year-end holiday season. Bloomberg News

www.businessmirror.com.ph

TheWorld

Germany reports 30,000 new cases; Covid deaths seen topping 100,000

BusinessMirror

B

ERLIN—Germany’s health minister said Monday that the rapid rise in coronavirus cases means it’s likely everyone in the country who

isn’t vaccinated will have caught Covid-19 by the end of the winter—and some of those will die.

Official figures Monday showed

Wednesday, November 24, 2021

more than 30,000 newly confirmed cases in Germany over the past 24 hours—an increase of about 50 percent compared to one week

A9

ago. The countr y is expected this week to pass 100,000 coronavirusrelated deaths since the start of the pandemic. AP

A10 Wednesday, November 24, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

PHL needs to boost agricultural financing

M

ore than a decade after Republic Act 10000 or Agri-Agra Reform Credit Act of 2009 was signed into law, banks are still reluctant to extend credit to the agriculture and agrarian reform sectors. The law mandates all government and private banking institutions to allocate at least 25 percent of their total loanable funds for agriculture and agrarian reform beneficiaries (ARBs). It prescribes that 15 percent of the loanable funds must be allocated to the agriculture sector and the remaining 10 percent to ARBs. Despite calls to increase lending to the local farm sector, a member of the Bangko Sentral ng Pilipinas Monetary Board noted that bank loans to the sector have not shown significant improvements (See, “MB exec: Banks’ compliance with agri-agra law still poor,” in the BusinessMirror, November 18, 2021). Citing data from the BSP, a paper published by the Congressional Policy and Budget Research Department (CPBRD) noted that the share of the agriculture sector in total loans outstanding for production by the local banking system has been declining over the years.

Last year, loans to agriculture amounted to P255.4 billion, a 5.1 percent decline from P269.2 billion in 2019. As a result, the sector’s total outstanding loans share went down to 3 percent from 3.1 percent in 2019. Out of the 20 economic activities reviewed, real estate activities received the highest credit with over P2 trillion, which is about eight times the credit given to the agriculture sector, according to the CPBRD paper.

Banks were slapped administrative sanctions and other penalties for non-compliance. Penalties paid by banks over the years have already exceeded P10 billion. Despite this, our lending institutions remain reluctant to increase their lending to the agriculture and agrarian reform sectors because of the high-risk profile of these sectors.

A proposal to amend the law to boost rural and agricultural financing is pending before Congress. The House of Representatives has already approved House Bill (HB) 6134 or the proposed “Rural Agricultural and Fisheries Development Financing System Act”, but the Senate has yet to act on the measure. Congress must fast track the passage of this measure, which seeks to amend RA 10000 and enable banks to finance other agricultural activities.

One of the salient features of HB 6134 is the expansion of the modes of compliance. Under the bill, credit may be extended to other activities including off-farm/fishery undertakings, agricultural mechanization, agri-tourism, green finance, and the marketing, processing, distribution and storage of agricultural and fishery commodities. It also calls for the creation of a special fund to finance well-defined agricultural-related activities and the organization and capacity/institution building of farmers and fisherfolk cooperatives and organizations.

Access to credit is crucial to enable the agriculture sector to increase its contribution to GDP. In the last 10 years, the CPBRD paper noted that the share of the agriculture, forestry and fishery sector to GDP has declined to just 10 percent. This does not bode well for a sector that employed nearly 25 percent of Filipinos last year, and holds the potential to create more jobs if it is given adequate support.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

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

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Apply now for the SSS Housing Loan Restructuring and Penalty Condonation Program Aurora C. Ignacio

All About Social Security

O

wning a house is one of the ultimate dreams of every working Filipino and one of the biggest investments one can have because its value increases over time. Buying your own house is a great advantage as it gives you a feeling of security, safety and belongingness, and it also gives you the freedom to create your own living space and decorate it accordingly. As a solid property, it can also serve as your legacy, which you can bequeath to your children.

Not known to many, SSS also offers various Housing loan programs since the early ’80s. As the years went by, SSS partnered with participating financial institutions for easier facilitation of documentary requirements as well as collections of housing loans. Currently, SSS directly facilitates the Direct House Repair and Improvement Loan and the Direct Housing Facility for Overseas Filipino Workers (OFWs)/Trade Union Members (TUMs) Programs.

Somewhere along the way, there were circumstances when our member-borrowers ended up cashstrapped and unable to fulfill their monthly amortizations. This is quite disheartening as they struggle in sus-

taining their regular payments. This is why we opened the Housing Loan Restructuring and Penalty Condonation Program (HLRPCP), also known as PRRP-4 as part of the SSS Pandemic Relief and Restructuring Program (PRRP) that we launched in November. The program, which aims to assist delinquent memberborrowers, their legal heirs or designated successor/s-in-interest by condoning penalties of their past due housing loans, will run for three months from November 22, 2021 until February 21, 2022. We consider a loan as past due or delinquent if the loan arrears is equivalent to at least six monthly amortizations as of the filing date of application within the

To the housing loan borrowers who missed out on their payments, this is a perfect opportunity to take advantage of the flexible payment terms that is now convenient for you.

condonation period. Penalty condonation can be availed of either with or without restructuring of the housing loan account.

The covered housing loan programs are the Direct Individual Housing Loan, including duplex housing loan accounts, and Direct Housing Loan Facility for OFWs/ TUMs, while borrowers qualified for condonation with and without restructuring are as follows: For condonation without restructuring: n All housing loan borrowers, duly designated successor/s-in-interest/legal heir/s with past due housing loan obligations,whether or not the original or previously restructured term has already expired, or housing loan borrowers whose property has been foreclosed and undergone sheriff auction sale with SSS as the winning bidder and the Certificate of Sale has not yet been registered.

For condonation with restructuring: n All housing loan borrowers/ successor/s-in-interest/legal heir/s

with past due housing loan obligations and with at least one month remaining term of the original or previously restructured loan term.

For successor/s-in-interest and legal heir/s applicants, the applicant must be an SSS member with least 24 monthly contributions posted at the time of the application, 12 of which should be posted continuously prior to the date of application.

There are two payment terms available.One is the Condonation without Restructuring wherein the full payment, a one-time payment (cash or manager’s check) of the outstanding principal, interests, insurance dues and legal expenses within 90 calendar days from receipt of notice of approval of application.

The second is the Condonation with Restructuring wherein member-borrowers are to pay 50 percent down payment of the outstanding principal, interests, insurance dues and legal expenses within 90 calendar days from receipt of notice of approval of application. The remaining 50 percent shall be restructured and shall be payable in 12 monthly equal installments. The first amortization shall start on the month following the date of receipt of the applicant’s 50 percent down payment. Payment deadline shall be on the 10th day of the month following the applicable See “Ignacio,” A11

What does PM’s reinstatement mean for Sudan?

By Joseph Krauss | Associated Press

T

he reinstatement of Sudan’s prime minister after weeks under house arrest was the biggest concession made by the military since its October 25 coup, but it leaves the country’s transition to democracy mired in crisis.

The military reached a deal with Abdalla Hamdok on Sunday that would reinstate him as the head of a new technocratic Cabinet ahead of eventual elections. But the agreement has angered Sudan’s prodemocracy movement, which accuses Hamdok of allowing himself to serve as a fig leaf for continued military rule.

Most of the international community has condemned the coup and called for a return to at least partial civilian rule. The United States suspended aid to the cash-strapped country as it slowly emerges from decades of isolation under President Omar al-Bashir, who was overthrown amid mass protests in 2019.

The Forces for the Declaration of Freedom and Change, an umbrella group of Sudanese political parties and pro-democracy organizations, has rejected the deal and says it remains committed to

ending military rule.

But the military is wary of handing power to civilians, which could leave top brass vulnerable to prosecution for human rights violations going back decades, or loosen the generals’ grip on lucrative sectors of the economy.

Here’s a look at what happened and what comes next: Why did Sudan’s military reinstate the prime minister?

The military needed to do something.

Gen. Abdel-Fattah Burhan has come under mounting pressure since seizing full power on Oct. 25. Western, Arab and African nations have called for a return to civilian rule, and the US suspended $700 million in aid as it strongly condemned the coup.

Protesters have flooded the streets in the biggest demonstrations since those that ended alBashir’s three-decade reign in 2019,

and security forces have killed more than 40 demonstrators since the coup.

The generals have portrayed the reinstatement of Hamdok as a step toward stabilizing the country ahead of elections planned for July 2023, and the international community has cautiously welcomed the agreement. Sudan’s pro-democracy movement has angrily rejected the deal as legitimizing the coup and has vowed to keep mounting mass protests.

Does the reinstatement of sudan’s prime minister reverse the coup?

No. The military retains overall control, and by prescribing a technocratic Cabinet, the agreement further sidelines Sudan’s political parties and the pro-democracy protest movement.

“I don’t believe it’s possible for Hamdok’s government to function at all, because it doesn’t have recognition on the streets,” said Jihad Mashamoun, a Sudanese researcher and political analyst.

The Sudanese Professionals’ Association, which led the protests against el-Bashir, condemned the latest agreement as an attempt to

legitimize the coup. The local Resistance Committees, which have also played a key role in recent protests, are demanding that the military leave politics altogether.

The military says there will be no return to the power-sharing government that existed before October 25, which was riven with internal rivalries. The coup came weeks before the military was supposed to hand over power to a civilian.

Nafisa Hajar, a human rights lawyer and deputy head of the Sudanese Darfur Bar Association, says that as much as the installation of Hamdok under military oversight goes contrary to the demands of the protest movement. She believes that the generals’ use of force against demonstrators left the deposed premier little choice.

“This deal has now become the status quo,” she said.

What does the Sudanese military want?

At the very least, it wants to protect itself.

An elected government would likely seek to prosecute generals for human rights violations, including those committed during al-Bashir’s See “Sudan,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Analysis: Biden’s Fed pick reflects political balancing act

Katutubo sa Senado Dennis Gorecho

Kuwentong Peyups

By Josh Boak | Associated Press

W

ASHINGTON—By picking Jerome Powell to stay on as chair of the powerful Federal Reserve, President Joe Biden is trying to navigate hazardous crosscurrents between economic and political forces.

Monday’s announcement frustrated a trio of liberal Democrats who see Powell as too weak on financial regulation and climate change. It drew praise from several Republican senators whose votes will be needed to get him confirmed in the evenly split Senate. But the underlying issue is whether the Fed’s often subtle messages and changes in interest rates can translate to a renewed sense of optimism by voters about the economy.

Biden’s goals are easy to describe but difficult to achieve.

He needs to tamp down inflation—the rising prices that have Americans so upset—but not so much that it suffocates a strong burst of hiring. He wants to forge bipartisan agreements, though not at the expense of his policy vision. He must put Democrats in the best position to compete in the 2022 midterm elections, yet his coalition is so diverse that it naturally invites infighting that can turn off voters.

Biden chose to nominate Powell to a second term in the belief that the 68-year-old’s political independence and experience during the pandemic will give Americans a sense of security. He balanced the choice politically by announcing that he wanted to elevate Fed Governor Lael Brainard to vice chair, a choice that could comfort some of the president’s progressive Democratic critics.

“We need people with sound judgment and proven courage to preserve the independence of the Fed,” Biden said at the White House. “We need people of character and integrity who can be trusted to keep their focus on the right long-term goals for our country.”

The president started with the questions of who he believed was best for the US economy—and who could get confirmed—according to administration officials who spoke on condition of anonymity to discuss internal deliberations.

For a time, the pandemic had put the US economy into the financial equivalent of a coma. Then unprecedented aid from both the Federal Reserve and congressional spending reawakened the economy, such that it made sense to Biden to go with someone with a track record in handling crises that also shared his policy goals of maximum employment and controlled inflation, the officials said.

Harvard University economist Jason Furman, who served as top economic adviser during Barack Obama’s presidency, said the political message in Powell’s pick was about “continuity and bipartisanship and the importance of institutions.”

Former President Donald Trump initially elevated Powell to Fed chair in 2018, but the president quickly turned spiteful and tried on Twitter and elsewhere to bully the Fed into cutting rates and juicing economic growth. Powell stood firm and exhibited an independence based on data that made him credible with Biden.

“One really important thing about the renomination of Powell is that he has consistently demonstrated throughout the last four years that political pressures are not going to get to him,” said Shai Akabas, who worked with Powell at the Bipartisan Policy Center, a public policy think tank.

At the pandemic’s outset, when the Trump administration seemed in denial about its economic consequences, Powell responded quickly by slashing interest rates and purchasing bonds.

Biden chose to nominate Powell to a second term in the belief that the 68-year-old’s political independence and experience during the pandemic will give Americans a sense of security. He balanced the choice politically by announcing that he wanted to elevate Fed Governor Lael Brainard to vice chair, a choice that could comfort some of the president’s progressive Democratic critics.

The Fed has held rates at nearzero even after enactment of Biden’s $1.9 trillion coronavirus relief package. That choice ricocheted through the economy as the unemployment rate quickly fell to a healthy 4.6%, yet the extent of government support also amplified supply chain challenges and pushed inflation to a 31-year high.

The Fed is expected to hike rates starting next year.

Biden was quick to emphasize on Monday that the strength of the economy should make it easier for the Fed to tackle inflation, which has become one of his top political vulnerabilities as Americans pay more for gasoline, autos, housing and other items.

“Our economy’s doing well, because we have created so many new jobs as fast as we have,” Biden said.

“We’re in a position to attack inflation from the position of strength, not weakness.”

Within minutes of Monday’s announcement, Sen. Pat Toomey of Pennsylvania, the ranking Republican on the Banking Committee, signaled his support of Powell despite disagreeing with him over the importance of raising rates sooner. North Dakota Republican Kevin Cramer, also on the Senate Banking Committee, endorsed Powell by saying that “stability and consistency are in the best interests of the American economy.”

Biden will need Republican backing because he faces dissent among Democrats over Powell from some who see him as lax on regulatory issues, the economic threats from climate change and the policing of Fed officials’ stock and bond portfolios.

Massachusetts Sen. Elizabeth Warren tweeted that she will oppose Powell because of what she deems are “failures on regulation, climate, and ethics.” Sens. Sheldon Whitehouse of Rhode Island and Jeff Merkley of Oregon issued a joint statement against Powell under the argument that the Fed should do more to protect against and adapt to the economic havoc coming from climate change.

Yet for all the economic power concentrated at the Fed and White House, Biden’s fate will ultimately depend upon the individual choices of businesses and consumers who determine the direction of the US economy. Their hopes, fears and choices will be critical as to whether the solid growth out of the pandemic is sustained and whether inflation returns closer to the Fed’s 2% annual target.

The outcomes of the 2022 and 2024 elections also will depend on the broader marketplace of ideas.

Will strong growth help Democrats?

Will cultural issues motivate people more? It is, for Biden, yet another balancing act with the public.

“The economy is not run by the president,” said Jonathan Golub, chief US equity strategist at Credit Suisse Securities. “It’s average, everyday Americans who make the economy run.”

M

acli-ing Dulag is among the most well known of the many victims of Martial law under then president Ferdinand Marcos.

Macli-ing was a pangat (leader) of the Butbut tribe of Kalinga who opposed the government plan of constructing a 1,010 megawatts dam project covering the Chico River.

Despite the lack of a formal education, Macli-ing knew that the project will eventually displace thousands of his people from their ancestral lands and destroy millions worth of fruits, vegetables, and grains.

Macli-ing was killed on April 24,1980 by government forces in an attempt to silence him, but his murder was a catalyst that united the peoples of the Cordillera in opposition against the dam.

One of his famous quote on the people’s reverence for the land, affirming their right to stay states: “You ask if we own the land and mock us saying, ‘Where is your title?’ When we ask the meaning of your words you answer with taunting arrogance, ‘Where are the documents to prove that you own the land?’ Titles? Documents? Proof of ownership. Such arrogance to speak of owning the land when we instead are owned by it. How can you own that which will outlive you? Only the race owns the land because the race lives forever.”

My former UP Law professor and now Supreme Court Associate Justice Marvic Leonon cited Macliing’s words in his concurring opinion in Sama vs People (G.R. No. 224469, January 05, 2021) that Iraya-Mangyans should be acquitted of the crime charged for violating Revised Forestry Code after they cut down a Dita tree without a license or permit issued by the proper authority.

The Iraya-Mangyans invoked their Indigenous People’s (IP) right to harvest Dita tree logs, which constitute a part of their right to cultural integrity, ancestral domain, and ancestral lands. They insist that the felled Dita tree was planted in their ancestral domain, over which the Iraya-Mangyans’ exercise communal dominion.

The Indigenous Peoples Rights Act (IPRA), or Republic Law 8371, was enacted in 1997 to support the cultural integrity of IPs, the right to their lands and the right to selfdirected development of these lands.

Leonen underscored that the concept of ownership introduced by IPRA is distinct in the sense that, unlike the Civil Code that puts emphasis on individual and corporate holders,

Wednesday, November 24, 2021 A11

If given the chance to be the first IP to become a senator, Baguilat will push for the passage of the Land Use Act, a new mining law, and sustainable forest management. Electing a deserving representative of our IPs is long overdue.

IPRA stresses the private but communal nature of ancestral domains.

IPRA recognizes that IPs have a claim of ownership, not only upon the ancestral domain, but also on the resources found in them. It acknowledges that the ancestral domain and the resources located therein constitute as the IPs’ basis for their cultural integrity.

“The indigenous peoples’ struggle for their rights has long been enduring. Their struggle for the recognition of their rights to land and selfdetermination is rooted in their effort for cultural and human survival.

We should honor the struggle of our people. This decision is the least we can do to correct a historical injustice,” Leonen said.

The number of IPs in the Philippines is unknown, but it is estimated that they consist between 10% and 20% of the country’s population who have retained much of their traditional, pre-colonial culture, social institutions and living practices.

Most of the IPs continue to live in geographically isolated areas with lack of access to basic social services and few opportunities for widespread economic activities, education or political participation.

“Katutubo sa Senado” is the campaign slogan of Teddy Baguilat Jr., a member of the Liberal Party, who is

a known politician-activist and advocate of IP rights and the rights of minority groups.

A native of Ifugao in the Cordillera mountain range, he was first elected as a lawmaker in 2010. Prior to this, he served as Ifugao governor for two terms and as mayor of Kiangan town.

I was with Baguilat in Kiangan’s “Gotad”, which is an Ifugao term for celebration, or large gathering for thanksgiving. It features, among others, the cultural ethnic sports competition.

We belong to opposing student political parties in UP Diliman.

Teddy was with Nagkaisang Tugon, while I belong to SAMASA. During his term as a congressman, he supported several bills involving IPs, including the Indigenous Education bill that mandates the use of indigenous education in all indigenous communities in the country; the Indigenous Barangay bill, which aims to establish full-fledged barangays where indigenous communities are present; and other bills focusing on indigenous rights.

If given the chance to be the first IP to become a senator, Baguilat will push for the passage of the Land Use Act, a new mining law, and sustainable forest management.

Electing a deserving representative of our IPs is long overdue.

Baguilat will carry the voices of our indigenous peoples in the Senate.

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

Regulation of reefer plugs in ports not under BOC jurisdiction

MAIL

Sudan. . .

continued from A10

scorched-earth campaigns against rebels in Darfur—for which the international criminal court charged him with genocide. They could also face charges over the killing of protesters in recent years.

The military also fears losing its hold on mining and other key economic sectors.

“Hamdok is in danger of being the man at the till in the grocery store selling soap, matches and snacks, while the drug dealers in the back room do the real deals,” said Alex de Waal, an expert on Sudan at Tufts University. “The coup was staged to protect the kleptocrats from the cleanup, and the army clearly intends the new formula to be a return to the money-laundering operation with a more respectable face.”

Where does the international community stand on Sudan?

Ignacio. . .

continued from A10

month. Under the loan restructuring, the interest rate is 6 percent per annum, which shall be fixed for the term of the loan. Any unpaid monthly amortization on the restructured loan after due date shall be subjected to a penalty of 1 percent per month until fully paid or foreclosed.

Applicants should pay the full payment (one-time payment) or 50 percent down payment (cash or manager’s check) to any SSS-accredited collecting partner, bank or non-bank,

T

his has reference to the news article entitled “Traders must brace for more shipping problems until 2023” published in BusinessMirror on November 19, 2021. The said article mentioned the Bureau of Customs (BOC) limiting the number of reefer containers coming in by rationing reefer plugs in the ports in Manila.

In the interest of service, we wish to clarify that the regulation of reefer plugs in various ports nationwide is not under the jurisdiction of BOC.

Hence, the agency does not ration the reefer plugs in the port areas.

Asian Terminals, Inc., (ATI) and International Container Terminal Services, Inc. (ICTSI) are the arrastre operators of the two major ports in Manila. The said companies are responsible for the reefer plugs utilized by the brokers and/or consignees of reefer containers while inside their container yards. BOC has no authority and control over the renting out and rationing of reefer plugs.

The Bureau of Customs remains

proactive in finding remedies to address the challenges faced by our stakeholders within our area of jurisdiction.

Thank you very much for your usual support of BOC’s thrust of transparent and efficient public dissemination.

Atty. Vincent Philip C. Maronilla Spokesman and Assistant Commissioner Bureau of Customs

The coup was widely criticized internationally, but the generals have influential friends.

The United Arab Emirates, Saudi Arabia and Egypt have cultivated close ties with Burhan since the uprising against al-Bashir and likely see the generals as the best hope of maintaining a stable, friendly government in Khartoum.

The wealthy Gulf states view them as a bulwark against the influence of rivals like Turkey and Qatar. Egypt is hoping for Sudan’s support in its long-running dispute with Ethiopia over the construction of a massive upstream dam on the Nile.

Israel is also seen as a potential ally of the generals, who were the guiding force behind Sudan normalizing relations with it last year in exchange for removal from the US list of state sponsors of terrorism. Hamdok had expressed concerns ahead of the normalization agreement, part of the so-called “Abraham Accords,” saying a for-

eign policy shift of that magnitude should only be signed by an elected government.

Israel’s Walla news website reported that an Israeli delegation met with Sudan’s generals days after the coup. The Israeli government has not commented on the coup or its aftermath.

“The US and its allies wanted a partnership, but the people don’t want a partnership at all, they want full civilian rule,” Mashamoun said. “The international community needs to listen to the people’s demands.”

US State Department spokesman Ned Price said Monday that the reinstatement of Hamdok is a necessary first step, but suggested the generals would need to do more before US aid will be unfrozen.

Is there any hope for Sudan’s democratic transition?

There appear to be two paths to democracy, both of them fraught.

Hamdok can work with the gen-

erals to pave the way for elections, potentially leveraging his position and international support to get the political transition back on track. But that likely means a return to the tugof-war of the last two years, which embittered both sides.

The pro-democracy movement has vowed to keep up the street protests until the military hands over power to civilians. But the generals have a lot to lose, and a prolonged standoff could ignite wider unrest.

“The result might be democracy, but more likely it would be state fragmentation. So a compromise is needed,” de Waal said. The compromise restoring Hamdok “isn’t a very good one, but there may be chances to improve upon it.”

Hajar, the lawyer, also envisages two scenarios. In one, if the generals remain true to their promises, it could eventually lead the country towards an elected government. The other leads to more unrest.

or SSS Branch Office with tellering facility.

Interested applicants for this program may file their application at the following: n For NCR—Housing and Acquired Asset Management Department (HAAMD), SSS Main Office. n For Outside NCR—Housing and Acquired Asset Management Section (HAAMS) at selected branches: n Central Luzon—H A A MS Tarlac n Southern Luzon—HAAMS San Pablo n Northern Luzon—HAAMS

Baguio n Bicol Region—HAAMS Naga n Central Visayas—HA AMS Cebu n Western Visayas—HAAMS Bacolod n S o u t h e r n M i n d a n a o — HAAMS Davao n N o r t h e r n M i n d a n a o — HAAMS Cagayan De Oro n Western Mindanao—HAAMS Zamboanga For details, you may visit the SSS website at www.sss.gov.ph and follow our official social media accounts. For Facebook, “Philippine Social Security System;” Twitter, @

PHLSSS; Youtube Channel, Philippine Social Security System; or join our SSS Viber Community “MYSSSPH Updates.”

To the housing loan borrowers who missed out on their payments, this is a perfect opportunity to take advantage of the flexible payment terms that is now convenient for you.

Have a great day!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

2nd Front Page BusinessMirror

A12 Wednesday, November 24, 2021

DTI working to expand list of US GSP-covered items

By Tyrone Jasper C. Piad @Tyronepiad

T

HE Department of Trade and Industry (DTI) wants to expand the list of products that receive preferential trade treatment with the United States.

“[We] are currently working to push for more products to be included in the talks for the US GSP [Generalized System of Preferences],” Trade

Secretary Ramon Lopez said in an event on Tuesday.

“These add to the value of making the Philippines as a manufacturing location for...

products,” he said.

Currently under the process of renewal, the GSP deal is a unilateral preferential trade arrangement by the US to 122 beneficiary developing countries and least developed beneficiary countries, including the Philippines. It aims to promote economic growth, development and trade by providing dutyfree market access to about 5,000 products into the US. Recently, Trade Undersecretary Ceferino Rodolfo said that DTI hopes for the renewal of the US GSP next year. The program expired last December 31, 2020.

In addition, the trade of-

ficial said they will be meeting with the US Trade Representatives to raise the concerns about the pending free trade agreement (FTA) negotiations.

Rodolfo said the Philippines would like to secure “industrial cooperation” with the US to encourage more foreign investments, especially those relating to supply chains that are “critical” to the Western country.

Meanwhile, Lopez reiterated the DTI’s call for the immediate ratification of the Regional Comprehensive Economic Partnership (RCEP).

Continued on A5

DOTr disputes slow fund use, cites DBM report

T

HE Department of Transportation (DOTr) clarified on Tuesday that it has one of the better fiscal performances of line agencies this year, citing a report from the Department of Budget and Management (DBM) listing the accelerated budget utilization rates

of government institutions for the first nine months of 2021.

Responding to comments from senators during a budget hearing, the transport department clarified that as of September 2021, its disbursement rate was at 63.15 percent, putting it on top of DBM’s notice of cash

allocation (NCA) list.

A higher NCA utilization rate reflects line agencies’ ability to release funds and deliver programs and projects on schedule.

Only five agencies used their allocation for the first nine months of 2021. Topping the list is the DOTr with P45.88 billion, followed

by the Department of Justice (DOJ) with P31.41 billion, the Civil Service Commission (CSC) with P1.28 billion, the Commission on Audit (COA) with P9.20 billion, and the Office of the Ombudsman with P3.09 billion.

Continued on A5

www.businessmirror.com.ph

SENATORS CITE OPTIONS TO STOP TEXT-SCAM RISE

A

NOTHER senator has joined the urgent call for the National Telecommunications Commission (NTC) and National Privacy Commission (NPC) to stem the surge of cyber-security attacks through spam messages, mostly targeting jobseekers.

Senator Imee Marcos pressed for quick action, saying on Tuesday: “We have to get to the bottom of this soon,” and noted it was “now more than a month since these incidents were reported.”

The day before, Sen. Joel Villanueva prodded the NPC to go after the perpetrators of the “epidemic of ‘text scams’ particularly the kind in which cell phone numbers are barraged with job ads or offers.” He called it the “new budol in town.”

On Tuesday, responding to his call, the NPC said in a media briefing there were indications that the groups behind the text scam epidemic belong to a big international syndicate. See related story in Nation, A3.

Villanueva, chairman of the Senate labor committee, noted how social media has been flooded with com-

plaints of duped citizens who were “bombarded with job offers or sales work that promises huge commissions.”

He worries that “in a nation where unemployment and digital disinformation are high, these kinds of messages can mislead many.”

For her part, Senator Marcos was keen to know, “how these smishers get hold of everyone’s mobile numbers?”

Marcos, who chairs the Senate Committee on Economic Affairs, stressed the need for concerned authorities to quickly neutralize perpetrators of the scam called “smishing,” or SMS phishing—a fraudulent practice of enticing people via text messages or mobile data apps to disclose sensitive personal data like passwords or credit card numbers, usually by offering employment, prizes, or discounts.

The Cybercrime Prevention Act of 2012 prohibits, she noted, “unsolicited commercial communications” that disguise the source of electronic messages and are sent without the recipient’s prior consent.

Continued on A5

Companies BusinessMirror

Editor: Jennifer A. Ng

EEI Saudi Arabia unit bags ₧11-B deal to build plant

A

By VG Cabuag

@villygc

l Rushaid Construction Co. Ltd., the joint venture of EEI Corp. and Al Rushaid Petroleum Investment Co. (ARPIC), has secured a contract to build a propane dehydrogenation (PDH) plant in Saudi Arabia worth about 800 million SAR (P11 billion).

The company has signed a contract for the construction of Advance Polyolefins Industry Co.’s (APOC) plant, as well as its utilities and offsites last month. The PDH plant is in Jubail 2 Industrial City in the eastern region of Saudi Arabia.

EEI Corp. is an affiliate of the Yuchengco Group of Companies while ARPIC is a holding company in Saudi Arabia with over 50 affiliate local and international companies mainly in the field of oil and gas.

The company said work started this month and mechanical completion is by November 2023. Manpower is estimated to peak at 3,769.

It will carry out the civil, building, steel structure, mechanical, tank, piping, painting, electrical and instrumentation works of the project for a total of 25 months.

A PDH plant is a facility that produces propylene by removing hydrogen from propane while the utilities and off-sites consist of water and air

essential to plant utility production facilities that produce steam, auxiliary facilities, and water treatment facilities. APOC has contracted Lummus Technology of the United States for licensing of its proprietary CATOFIN technology for the PDH plant.

The PDH facility that will be producing propylene will have a nameplate capacity of 843,000 tons per year, feeding two polypropylene plants of 400,000 tons per year each for the production of specialty polymers by manufacturers of face mask, automotive, pipes, food packaging and textile industries.

The plant will be constructed by another EPC contractor, Tecnimont.

Propane feedstock will come from Aramco under a long-term contract.

EEI Corp. President and CEO Roberto Jose L. Castillo said the company has a pipeline of domestic and overseas projects that the company has won over the past few months despite the pandemic.

“EEI Corp. maintains a substantial backlog of projects that is sufficient to sustain the business in the next three to five years. But what’s more important is that we are wellpositioned to win more contracts as we continue to bid for mega infrastructure projects here and abroad,” Castillo said.

This year alone, the company’s Saudi unit has already secured seven projects on top of the contract to build the PDH plant.

EEI also recently secured two contracts—one with Cebu Landmaster Inc. to build Masters Tower Cebu, a 40-storey mixed-used building within the Cebu Business Park and another with SM Development Corp., to build Sands Residences, a 52-storey tower in Malate, Manila.

Now, WallPost announce tie-up

By Lorenz S. Marasigan @lorenzmarasigan

N

ow Corp. has signed an exclusive partnership agreement with California-based tech firm WallPost Co. to offer cloudbased enterprise resource planning (ERP) solutions to small and medium enterprises (SMEs) in the Philippines.

In a disclosure to the stock exchange, Now President Henry Andrews B. Abes said the partnership will provide SMEs access to a “budget-friendly platform” that enables them to digitally manage

their data and operations.

Called Now EasyBiz, Abes claims that the platform is “beneficial for business owners that manage multiple branches and consider accurate data and reports crucial to their decision-making.”

“This new service that we are offering to the Philippine SME market bolsters Now’s positioning to provide high-value, high-impact technology services. The pandemic has forced businesses to digitally transform themselves in order to stay in the game by improving and automating internal processes that would result

in improved operational efficiencies and superb customer experience,” he said.

Now EasyBiz aids SMEs to automate their business processes including accounting and finance, project management, CRM, HR/payroll/ benefits administration, inventory tracking, and purchasing controls. All available modules are customizable to the needs of any type of business.

“Business owners and their employees will be fully equipped with business analytics and information to make the necessary decisions on how they can elevate their business opera-

tions against competition,” Abes said.

WallPost CEO Andrew Doxsey noted that the group forayed into the Philippines as it is a “critical market.”

“The Philippines is a critical market for WallPost, and we see great potential for digital transformation.

This partnership with Now Corp., we believe will fundamentally rewire how small businesses operate, and further ignite the growth of the digital economy in the Philippines,” he said.

WallPost is a tech firm that offers ERP solutions in seven countries around the world.

Wednesday, November 24, 2021

B1

ACE Enexor inks investment deal

By Lenie Lectura @llectura

A

CE Enexor Inc. is inching closer to fulfilling its plans to build a 1,100 megawatt (MW) combined cycle power plant in Batangas.

An investment agreement has been signed among ACE Enexor, Buendia Christiana Holdings Corp.

(BCHC), United States-based Red Holdings B.V., Gen X Energy L.P., and Batangas Clean Energy (BCE) last November 19, the Ayala-owned firm said in a disclosure Monday.

Red Holdings is a wholly-owned subsidiary of Gen X Energy, which, in turn, is a portfolio company of Blackstone Inc., the world’s largest alternative asset manager.

BCHC is special purpose vehicle of AC Energy—the power arm of the Ayala Group—that will own the land for its development projects. ACE Enexor, meanwhile, is the upstream oil and gas company of the Ayala Group.

Under the deal, BEC will be the special purpose vehicle company where ACE Enexor and Gen X will each own a 50-percent interest in the power project, which will use natural gas and/or green hydrogen as its fuel.

“The transaction will potentially add 1,100MW of natural gas and/or green hydrogen power to the Company’s power generation portfolio,” said ACE Enexor, adding that the arrangements on management and operations will be finalized upon the execution of the shareholders agreement on closing.

The investment deal also involves ACE Enexor’s subscription of 150,002 BCE shares for P150,219,040. “[ACE Enexor] will subscribe to shares in BCE such that [ACE Enexor] and Gen X Energy will each own a 50-percent interest in BCE, subject to the satisfaction of agreed conditions precedent and execution of definitive documents, including a shareholders’ agreement,” it said.

BCE shall file an application for the increase in its authorized capital stock with the Securities and Exchange Commission.

BCE earlier informed the Department of Energy (DOE) of its intent to join the gas business. It had already been issued a Notice to Proceed (NTP) by the agency. At that time, however, BCE was reportedly a partnership between Gen X and the group of tycoon Lucio Tan. Back then, BCE told the DOE that it had planned to develop an integrated liquefied natural gas (LNG) import terminal and a 1,200MW combinedcycle gas turbine power facility. The entire project could cost P82 billion.

In anticipation of the eventual depletion of the Malampaya deepwater gas-to-power project which has been providing about 20 percent of the country’s power needs, the DOE has long been advocating for the optimization of LNG. The agency also wants to harness the potential of nuclear energy as part of the energy mix and is exploring other sources of energy like hydrogen to meet the country’s growing demand for electricity.

Shell plans Singapore biofuels plant to meet emissions goal

Globe expands SMC brings skills program to more provinces WiFi service

G

lobe Telecom Inc. said on Tuesday it has expanded its GoWiFi services to 3,700 locations nationwide, as it aims to address the growing demand for Internet connectivity in the country.

Globe Business Development and Marketing Director Janis Nathalie Racpan said the group has deployed GoWiFi spots in local government buildings in Metro Manila, Palawan, Davao, and Cavite, as well as in supermarkets, and hospitals in various parts of the country.

“We are happy to be at the forefront of digitalization in the country through innovative WiFi solutions that will cater to everyone’s online needs. And right now, we stand by this mission as Free GoWiFi becomes available in over 3,700 sites nationwide,” she said.

Currently, GoWiFi is available in select branches of major shopping malls like Ayala Malls, Megaworld Malls, SM Supermalls, Robinsons Malls; in coffee shops like Starbucks; in transport terminals such as Metro Rail Transit (MRT) and Light Rail Transit (LRT); and in airports namely the Ninoy Aquino International Airport, Diosdado Macapagal International Airport (Clark International Airport), and Puerto Princesa International Airport (New Terminal).

The company’s core net income rose by 17 percent to P18.3 billion in January to September from P15.6 billion the year prior as demand for Internet connection continued to rise due to the pandemic. Lorenz S. Marasigan

S

an Miguel Corp. (SMC), together with the Technical Education and Skills Development Authority (TESDA), is expanding its skills development program to cover more provinces and include financial assistance to small businesses in disadvantaged communities where it operates.

“As our economy starts opening up, there is an urgent need to help the poorest and most disadvantaged sectors get back on their feet. Many have lost their jobs or small businesses during this pandemic, and what we aim to do is upskill them, so they can pursue better job opportunities and help them start or restart their small businesses and allow them to participate in the economy’s growth post-pandemic,” SMC president Ramon S. Ang said.

The program has already benefitted close to a thousand trainees from Taliptip and other coastal barangays in Bulacan—where the company is building the New Manila International Airport and Aerocity—and over 300 families from Sariaya, Quezon, where it is investing in a modern agro-industrial facility.

The program will be extended to beneficiaries in Bataan, Batangas, and Davao provinces.

Along with the skills training initiative, the company is extending capital assistance to over a hundred families in Bulacan to help them either put up micro-enterprises or improve their current small businesses.

Ang added that just a year into the pilot implementation of its training program with TESDA, and

despite strict quarantine protocols that limited opportunities for inperson training, close to 1,000 individuals have already availed of the free training sessions.

“We thank the TESDA headed by Isidro Lapena for joining us in this effort that combines the resources of San Miguel and TESDA, to work for the good of many. We are looking forward to the expansion of this program to more provinces nationwide, and seeing its transformative impact on our countrymen who are looking to recover from the pandemic.”

Even prior to the agreement, TESDA has been a longtime partner of SMC for its corporate social responsibility programs under the San Miguel Foundation.

Under a Memorandum of Agreement, TESDA facilitates skills training, makes available its training venues, conducts assessments, and issues certificates of competency to the beneficiary-trainees.

SMC provides funds for training fees, assessment fees, and other expenses for trainees who do not qualify for TESDA scholarship. The company also covers transportation and food allowance for the duration of the training.

Apart from these, SMC provides jobs to qualified graduates, whenever possible, in companies across the group.

Thus far, some 922 individuals took up courses that lasted anywhere from two days to 36 days, conducted at pilot sites Bulacan, Sariaya in Quezon province, and

General Santos City.

Bulk of the graduates under the SMC-TESDA partnership came from 277 families from Bulakan, Bulacan formerly residing in Brgy. Taliptip, site of SMC’s airport project. Apart from the training programs, they were earlier provided cash assistance to build their own homes in properties they now own.

Also among the beneficiaries of the program are some 302 families in Sariaya, Quezon, half of whom now reside at free house and lots given to them by SMC, inside its model sustainable housing community, San Miguel-Christian-Gayeta Homes, in Barangay Castanas.

The town in Bulakan will host the NMIA and its adjoining Aerocity development, while Sariaya will be home to SMC’s state-of-the-art agro-industrial complex, which will feature a brewery, grains terminal, feedmill, a ready-to-eat food manufacturing plant, high-tech poultry facility, a fuel tank farm, and port facilities.

Both major investments are seen to generate jobs and help boost the Philippines’ economic growth postpandemic and for the long-term.

Courses offered by the SMC-TESDA program include: heavy excavator operator, electrical installation and maintenance, shielded metal arc welding, dressmaking, beads and accessories making, fish processing, dessert-making, doormat and rugs making, entrepreneurship training, bread and pastry production, hollow block making, and meat processing.

A Royal Dutch Shell Plc logo on an oil silo near overhead railway power lines at the Shell Pernis refinery in Rotterdam, Netherlands, on April 27, 2021. Photographer: Peter Boer/Bloomberg

R

oyal Dutch Shell Plc plans to build a biofuels plant in Singapore to help the company meet its target of halving emissions by 2030.

The company is planning a 550,000-ton a year plant that can make hydrogen from cooking oils and animal fats, which are then used to produce diesel for road transport, aviation fuel or chemicals, according to a statement. The facility is subject to a final investment decision.

Shell is reducing crude-processing capacity at its Pulau Bukom complex—the site for the biofuels plant—as it seeks to eliminate all net emissions from its operations and the bulk of greenhouse gases from the fuel it sells to customers by 2050. Singapore is also setting out a path for the city-state to become a leading regional hub for carbon trading, green finance and other services.

“We have already cut our crude processing capacity here in Bukom,” Aw Kah Peng, chairman of

Shell Companies in Singapore, told reporters during a groundbreaking ceremony for a pyrolysis oil unit at the site. “There’s a clear commitment away from fossil as well as traditional fuels.”

The biofuels plant will be one of the largest in Asia when built, said Shirley Yap, senior vice president at Shell Singapore. The oil major is seeking to produce around 2 million tons a year of sustainable aviation fuel by 2025 and process 1 million tons a year of plastic waste globally.

Shell is building a unit that will improve the quality of pyrolysis oil, a liquid made from hard-to-recycle plastic waste. It will have a capacity of 50,000 tons a year, making it Asia’s largest, and process the equivalent weight of about 7.8 billion plastic bags. No cost was provided for the investment.

Separately, Shell is also exploring a regional carbon capture and storage hub, and plans to work with a range of customers including in the power sector. Bloomberg News

B2

Wednesday, November 24, 2021

Companies BusinessMirror

STI overall enrollment rises by 18% in SY 2021-2022

T

By VG Cabuag

@villygc

anco-led STI Education Systems Holdings Inc., which operates one of the country’s largest networks of schools, on Tuesday said its overall enrollment for school year (SY) 2021-2022 went up by 18 percent to 82,629 students from the previous 70,223.

The company said it saw a 40-percent surge in tertiary enrollment to 56,342 students from 40,176 in the previous school year.

Meanwhile, Bacolod City-based STI West Negros University (WNU)

had the largest enrollment increase among the group’s member schools, registering a 36-percent jump to 7,580 this school year from the previous 5,584 students.

The increase in enrollment was

still achieved even as classes are still being fully conducted online at the start of the current school year.

Online classes are being conducted under its learning model for the STI Education Services Group, WNU and iAcademy.

“The significant growth in enrollment can be attributed to the group’s consistent enrollment strategies, aggressive recruitment, and innovative online learning delivery and world-class curriculum that are responsive to the trends and challenges in the country’s educational landscape,” STI Holdings President and CEO Monico V. Jacob said.

“The Covid-19 pandemic remains in our midst, but the significant leap in our enrollment figures serves as a ray of hope for us. Clearly, people want to regain a semblance of normalcy while we are still practicing health and safety

protocols for our students, faculty, staff and other members of the STI Holdings community—whether online or offline.”

Classes for tertiary and senior high school students of STI and WNU began on September 13, while WNU’s School of Graduate Studies started on October 2. iAcademy’s senior high school and tertiary classes began on August 4 and 31, respectively.

With the increase in enrollment, the group improved its financial performance year-on-year. It saw a lower net loss of P116.7 million from July 1 to September 30 this year from last year’s P203 million.

Gross revenues went up by 27 percent to P375.3 million from the previous P296.6 million.

The period of July 1 to September 30 serves as the first quarter of STI Holdings’ fiscal year.

Holcim PHL unveils ‘green cement’ C

ement firm Holcim Philippines Inc. on Monday launched a product which has more than 30 percent lower carbon footprint than other general purpose cement.

The company said its ECOPlanet is a global range of green cement developed by the Holcim Group.

Its Philippine unit will offer the product as a general purpose blended cement ideal for structural applications that “delivers equal to superior construction performance while lowering the carbon footprint of buildings.”

This product will be available in 40-kilogram bags in paper and plastic bags. The Philippines will be among the first markets where this product line is available.

The company said its lower env ironmenta l footpr int and equal to superior performance are driven by the addition of blast furnace slag, a by-product of iron ore smelting to produce pig iron for steel making. Adding slag lowers the clinker content and carbon footprint of cement while enhancing the durability and long-term strength of concrete.

Holcim Philippines will aim for an Environmental Product Declaration for ECOPlanet in the next few months to be independently verified by a third-party reviewer.

In addition, the company will launch a program to collect its used plastic bags for recycling by an accredited facility to support the company’s sustainability commitments.

“Winning with purpose requires delivering our customer promise while also caring for the planet. We see a growing interest in building greener structures in the Philippines,” said Holcim Philippines President and CEO Horia Adrian.

“ECOPlanet enables us to provide our partners with the best balance of delivering strength and durability while helping make construction more respectful of the environment.

It is another key step in our promise to build greener, smarter, and for all in the Philippines.”

The launch of the product is part of the company’s stronger focus on sustainability and innovation to raise business performance and increase positive social and environmental impact.

The company recorded a net profit P2.29 billion in January to September, more than double last year’s P1.02 billion.

Net sales rose 7 percent to P20.14 billion from last year’s P18.77 billion due to the recovery of the market as seen in the improved demand for construction materials which was felt by its cement, aggregates and dry mix businesses. VG Cabuag

mutual funds

M

icrosoft Philippines Inc., the local unit of the United States-based software giant, was recognized by HR Asia for the second consecutive year as one of the best companies to work for in Asia.

The organization received this distinction for its exemplary performance in workplace excellence, human capital development, and outstanding employee engagement, the company said.

“Our efforts and our commitment to our people are built on our mission as an organization: to empower

every person and every organization on the planet to achieve more,” Grace Dela Cruz, human resources director of Microsoft Philippines, said.

“We’re honored by this distinction and in receiving it, reaffirm our commitment to our team to continue providing them with an environment where they can bring their authentic selves every day— one that is diverse and inclusive— and most importantly, a platform where they can bring their passions, and be empowered to drive positive outcomes for themselves and those around them.”

The company said its strategy focuses on empower ing its employees through proactive learning and development, rewards and recognition, extensive employee engagement and holistic health and wellness programs built on a diverse, inclusive and accessible culture.

VG Cabuag

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

233.3

1.65%

-1.67%

-0.46%

2.68%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6648

30.22%

7.29%

4.14%

26.79%

-5.23%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2348

-3.32%

3.25%

Climbs Share Capital Equity Investment Fund Corp. -a 0.755 -5.28%

-4.83% n.a.

-7.11%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8042 8.21%

-0.23% n.a.

8.44%

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

5.2027

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

1.83%

4.44%

0.59%

1.26%

0.7793

0.87%

-1.54%

5.29% -2.52% 0.37%

MBG Equity Investment Fund, Inc. -a

96.4

PAMI Equity Index Fund, Inc. -a Philam Strategic Growth Fund, Inc. -a Philequity Alpha One Fund, Inc. -a,d

1.1715

10.46% n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a

1.3234

13.56%

2.49%

2.51%

13.29%

Philequity Fund, Inc. -a

36.5017

5.26%

0.64%

1.79%

4.98%

Philequity MSCI Philippine Index Fund, Inc. -a

2.9%

-4.49% n.a.

-5.37%

47.8037

1.5%

-0.15%

1.07%

2.06%

501.23

1.51%

0%

0.44%

2.52%

0.942

1.76% n.a. n.a.

2.3%

0.65%

1.8%

6.76%

3.18%

Philequity PSE Index Fund Inc. -a

4.9257

Philippine Stock Index Fund Corp. -a

822.44

2.12%

0.64%

1.74%

2.6%

Soldivo Strategic Growth Fund, Inc. -a

0.7578

3.75%

-3.27%

-1.42%

5.41%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7545

2.81%

3.02%

-2.01%

0.12%

3.6%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.938 1.69%

0.29%

1.48%

2.21%

United Fund, Inc. -a

0.29%

2.43%

3.8%

3.4447

3.39%

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

110.6124

2.2%

0.86%

2.23% 2.84%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.168

1.34%

7.33%

6.55%

-2.9%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8825

18.08%

17.2%

12.95%

12.54%

1.5%

0.55%

2.35%

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

1.7078

ATRAM Philippine Balanced Fund, Inc. -a

2.2691

0.05%

1.44%

0.57%

-0.71%

First Metro Save and Learn Balanced Fund Inc. -a 2.7026

2.46%

2.98%

2.3%

3.5%

2.88%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2044

2.25% n.a. n.a. 3.18%

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

2.0079

2.02%

3.36%

2.61%

2.07%

PAMI Horizon Fund, Inc. -a

3.7625

-1.05%

2.79%

1.57%

-0.73%

Philam Fund, Inc. -a

16.846

-0.95%

2.54%

1.45%

-0.55%

Solidaritas Fund, Inc. -a

2.1217

0.95%

1.44%

1.31%

1.46%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6379 1.54%

0.29%

1.08%

1.81%

-3.4% n.a. n.a.

-3.28%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9891 Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9397

-1.57% n.a. n.a.

-1%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9304

-0.93% n.a. n.a.

-0.29%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9458

6.21%

0.98%

1.24%

6.55%

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

Microsoft PHL gets HR Asia’s nod

November 23, 2021

$0.03786

-3.32%

2.87%

1.55%

-3.17%

PAMI Asia Balanced Fund, Inc. -b

$1.0771

-3.1%

4.87%

4.13%

-4.68%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.86

12.38%

12.29%

9.38%

7.69%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2257 4.57%

6.93%

5.02%

1.95%

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

373.09

0.93%

2.9%

2.58%

0.53%

ATRAM Corporate Bond Fund, Inc. -a

1.9235

1.39%

1.42%

0.42%

1.22%

Cocolife Fixed Income Fund, Inc. -a

3.2438

1.08%

3.15%

4.01%

0.88%

Ekklesia Mutual Fund Inc. -a

2.2427

-2.13%

1.81%

1.77%

-2.42%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4198 -1.26%

3.15%

1.88%

-1.36%

Philam Bond Fund, Inc. -a

4.3924

-4.97%

4.19%

1.9%

-5.13%

Philam Managed Income Fund, Inc. -a

1.3159

0.02%

3.78%

2.58%

-0.41%

Philequity Peso Bond Fund, Inc. -a

3.9474

-0.66%

4.29%

2.81%

-1.34%

Soldivo Bond Fund, Inc. -a

1.023

-1.35%

4.87%

2.28%

-1.96%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1777

-0.5%

4.86%

3.9%

-0.89%

-1.28%

4.08%

3.24%

-1.76%

Sun Life Prosperity GS Fund, Inc. -a

1.7241

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

$488.64

1.39%

3.03%

2.49%

ALFM Euro Bond Fund, Inc. -a

Є219.9

0.68%

1.17%

0.96%

0.95% 0.31%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2025

-4.83%

2.33%

1.77%

-6.04%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -1.89% PAMI Global Bond Fund, Inc -b

1.59%

1.03%

-2.26%

$1.0189

-6.61%

-0.16%

-0.7%

-6.52%

Philam Dollar Bond Fund, Inc. -a

$2.4919

-1.23%

5.28%

2.73%

-1.89%

Philequity Dollar Income Fund Inc. -a

$0.0624226

0.58%

3.14%

2.04%

0.2%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1663 -1.65%

3.35%

1.63%

-1.78%

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

2.55%

0.91%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0567 0.94% n.a. n.a.

131

1.16%

0.82%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3135

1.28%

1.51%

2.88% 2.65%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.06

0.82%

1.48% n.a.

0.61%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.385

28.93% n.a. n.a. 22.61%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.97

0% n.a. n.a.

-1.02% % 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."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

November 23, 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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

264,950 641,154,415 145,883,741 2,584,630 5,082,800 139,309,131 9,570 4,837,285 294,495 2,042,565 36,699,819 40,149,443 717,630 281,670 8,190 9,780 28,470 12,000 10,000 43,150 553,404 14,000 820

327,454,377 -44,974,484.50 2,520 -994,034 -9,093,995 -493,805 100,000 -6,082,623 -749,605 342,000 10,400 -

INDUSTRIAL AC ENERGY 12.02 12.04 11.94 12.1 11.92 12.04 44,206,900 532,189,938 ALSONS CONS 1.11 1.14 1.1 1.15 1.1 1.14 236,000 268,540 ABOITIZ POWER 30.7 30.75 30.15 31 30.15 30.75 1,164,800 35,802,685 BASIC ENERGY 0.65 0.66 0.63 0.65 0.62 0.65 10,701,000 6,834,240 29.5 29.7 29.5 29.85 29.3 29.5 723,800 21,384,990 FIRST GEN 73 73.05 73 73.15 73 73 34,610 2,526,746.50 FIRST PHIL HLDG 298 303 295.4 303 295.2 303 365,810 109,397,812 MERALCO MANILA WATER 25.65 25.75 24.5 25.75 24.4 25.75 3,489,300 88,291,335 PETRON 3.41 3.42 3.35 3.45 3.35 3.41 767,000 2,619,320 PETROENERGY 4.27 4.3 4.28 4.3 4.26 4.26 172,000 735,480 11.26 11.48 11.28 11.48 11.28 11.48 5,100 58,528 PHX PETROLEUM PILIPINAS SHELL 21.35 21.7 21.2 21.6 21.05 21.35 469,500 10,037,760 13.84 13.86 13.82 13.86 13.82 13.86 50,500 699,130 SPC POWER AGRINURTURE 3.92 4 4.14 4.15 4 4 569,000 2,294,900 AXELUM 2.75 2.76 2.71 2.76 2.71 2.76 209,000 570,050 CNTRL AZUCARERA 13.7 14.1 13.72 13.72 13.7 13.7 2,400 32,920 27 27.1 26 27 26 27 3,546,700 94,981,725 CENTURY FOOD 15 15.06 14.86 15 14.78 15 90,500 1,348,058 DEL MONTE 9.25 9.28 9.1 9.28 8.97 9.28 6,850,600 62,859,578 DNL INDUS EMPERADOR 18.18 18.2 18.08 18.3 17.96 18.2 1,486,800 27,109,002 SMC FOODANDBEV 75.9 75.95 75.9 75.9 75.5 75.9 34,490 2,616,896 ALLIANCE SELECT 0.59 0.6 0.59 0.59 0.59 0.59 42,000 24,780 1.26 1.29 1.28 1.3 1.23 1.29 48,500,000 61,497,820 FRUITAS HLDG GINEBRA 104.8 104.9 105.5 105.5 104 104.8 22,770 2,377,752 244.4 244.6 244.8 245.6 242 244.6 796,870 194,720,878 JOLLIBEE MAXS GROUP 6.89 6.9 6.85 6.99 6.85 6.9 308,100 2,134,868 MG HLDG 0.162 0.17 0.162 0.162 0.162 0.162 670,000 108,540 MONDE NISSIN 18.96 18.98 18.7 19.1 18.62 18.98 66,412,000 1,258,831,070 9.3 9.35 9.2 9.4 9.2 9.3 488,900 4,547,723 SHAKEYS PIZZA 0.71 0.72 0.7 0.73 0.7 0.71 1,618,000 1,144,360 ROXAS AND CO 0.113 0.117 0.114 0.117 0.113 0.117 1,780,000 201,700 SWIFT FOODS UNIV ROBINA 131.5 132.1 133.8 133.8 131.1 131.5 1,559,010 205,308,815 VITARICH 0.76 0.77 0.77 0.77 0.75 0.76 556,000 422,070 VICTORIAS 2.3 2.4 2.31 2.31 2.31 2.31 36,000 83,160 48 49.45 48 48 48 48 700 33,600 CONCRETE A CONCRETE B 50 58.5 50 50 50 50 980 49,000 CEMEX HLDG 1.19 1.2 1.17 1.2 1.17 1.2 617,000 731,400 EAGLE CEMENT 14.2 14.26 14.3 14.3 14.28 14.28 6,300 90,084 EEI CORP 6.68 6.7 6.52 6.79 6.52 6.68 264,300 1,760,261 HOLCIM 5.39 5.4 5.4 5.4 5.3 5.4 1,460,700 7,865,932 1.63 1.64 1.62 1.65 1.58 1.64 186,610,000 299,563,200 KEEPERS HLDG 5.8 5.82 5.7 5.92 5.4 5.8 1,662,700 9,331,079 MEGAWIDE 16.6 16.8 16.5 16.58 16.5 16.58 8,600 142,300 PHINMA VULCAN INDL 1.12 1.13 1.1 1.14 1.1 1.12 1,676,000 1,877,150 CROWN ASIA 1.72 1.74 1.71 1.75 1.71 1.73 6,988,000 11,951,660 EUROMED 1.5 1.57 1.49 1.5 1.48 1.5 15,000 22,410 5.65 5.66 5.8 5.8 5.65 5.66 48,900 280,224 PRYCE CORP 21.65 21.95 21.95 21.95 21.65 21.65 500 10,915 CONCEPCION GREENERGY 2.38 2.4 2.38 2.46 2.32 2.4 4,615,000 11,096,320 INTEGRATED MICR 8.88 8.99 8.82 9 8.8 8.99 152,200 1,353,521 IONICS 0.73 0.77 0.75 0.78 0.72 0.77 524,000 388,680 PANASONIC 5.88 6.04 6.02 6.04 6 6.04 8,500 51,162 1.07 1.1 1.07 1.1 1.07 1.1 242,000 260,660 SFA SEMICON 4.3 4.31 4.24 4.31 4.22 4.3 1,686,000 7,226,140 CIRTEK HLDG

72,299,150 -52,440.00 544,590 -386,420 3,334,130 -1,473,167 18,996,924 -64,715 -231,340 753,035 -1,269,370 5,480 61,496,950 47,464 12,411,403.00 3,883,166 -445,054.50 0 622,569 -19,101,276 -514,514 282,750,542 -11,960.00 246,360 -82,913,320 38,500 -81,518 -5,231,890 1,741,030 -1,023,488 -54,850 17,400 -42,750 -4,733,580 337,214 12,190 2,200 377,290

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 FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PRIME MEDIA REPUBLIC GLASS SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

44.9 133.4 89.4 25.25 9.61 51.75 8.7 20.25 55.7 20 122.6 109 1.7 3.95 0.59 3.26 1.09 0.29 902 0.64 209 2,700 0.82

0.99 5.31 883 51.4 11.72 5.63 7.8 0.95 0.47 0.455 5.22 7.91 7.77 0.27 605 3.75 59 6.06 0.64 3.11 11.16 0.405 1.15 4.04 1.3 2.75 1.13 15.48 983.5 112.9 125 0.245 0.177

45 133.5 89.9 25.3 9.64 52 8.99 20.3 57.75 20.4 122.7 109.8 1.74 4.04 0.63 3.4 1.1 0.3 1,000 0.68 218.2 2,800 0.89

1 5.8 897.5 51.45 11.78 5.69 7.95 0.96 0.49 0.5 5.25 7.95 7.83 0.29 610 3.79 59.1 6.1 0.66 3.14 11.2 0.425 1.22 4.1 1.38 2.95 1.2 15.5 985 113 127.7 0.26 0.188

45 128 89.35 25.2 9.63 50.9 8.7 20.2 55.65 20.4 121 98 1.77 4.05 0.63 3.26 1.09 0.3 1,000 0.65 209 2,800 0.82

1.02 5.37 880 50 11.22 5.62 7.8 0.94 0.475 0.455 5.17 7.7 7.79 0.275 589 3.79 57.55 6.1 0.64 3.13 10.76 0.41 1.15 4 1.29 2.95 1.15 15.2 975 114.6 127.7 0.26 0.176

45 133.5 90.7 25.3 9.68 52 8.7 20.35 57.75 20.4 123 110.5 1.77 4.05 0.63 3.26 1.1 0.3 1,000 0.65 218.6 2,800 0.82

1.02 5.37 900 52 11.78 5.7 8 0.95 0.48 0.455 5.25 7.95 7.79 0.275 610.5 3.79 59.25 6.1 0.67 3.13 11.2 0.41 1.2 4.1 1.41 2.95 1.15 15.74 990 114.6 127.7 0.26 0.176

44.9 127.6 89.15 25.15 9.6 50.15 8.7 20.2 55.65 19.8 120 97.9 1.7 3.91 0.63 3.26 1.09 0.3 1,000 0.64 208 2,800 0.82

0.98 5.35 876.5 50 11.12 5.38 7.8 0.94 0.475 0.455 5.16 7.61 7.79 0.27 588.5 3.79 56.5 6.1 0.64 3.12 10.68 0.41 1.15 3.95 1.29 2.95 1.13 15.12 967 111.5 125 0.26 0.176

44.9 133.5 89.4 25.25 9.61 52 8.7 20.25 57.75 20 122.7 109.8 1.74 4.04 0.63 3.26 1.1 0.3 1,000 0.64 218.6 2,800 0.82

0.99 5.36 897.5 51.4 11.78 5.63 7.8 0.95 0.48 0.455 5.25 7.95 7.79 0.27 610 3.79 59 6.1 0.64 3.12 11.2 0.41 1.2 4.1 1.3 2.95 1.15 15.48 985 113 125 0.26 0.176

5,900 4,858,520 1,625,170 102,500 528,500 2,702,480 1,100 238,700 5,100 101,200 301,710 385,110 420,000 70,000 13,000 3,000 26,000 40,000 10 67,000 2,650 5 1,000

12,369,000 9,400 335,950 959,520 10,554,700 5,274,100 188,200 152,000 50,000 11,000,000 1,574,200 7,281,600 8,800 300,000 331,300 13,000 1,851,830 20,000 175,000 17,000 18,414,300 10,000 6,000 19,193,000 188,000 28,000 103,000 17,799,500 205,880 397,370 273,600 50,000 10,000

12,244,260 50,388 300,233,935 48,969,327.50 121,804,024 29,191,576 1,485,227 143,080 23,900 5,005,000 8,186,935 56,615,282 68,552 81,100 200,438,425 49,270 108,117,765 122,000 112,720 53,160 203,428,020 4,100 7,050 77,466,300 253,420 82,600 118,430 275,529,200 202,397,120 44,872,809 34,929,000 13,000 1,760

PROPERTY ARTHALAND CORP 0.63 0.65 0.63 0.63 0.63 0.63 24,000 15,120 AYALA LAND 36.65 37 36.65 37.15 36.4 36.65 4,904,000 180,402,870 AREIT RT 49.2 49.45 48.3 50 48.3 49.4 873,300 42,961,895 BELLE CORP 1.36 1.4 1.37 1.4 1.36 1.4 239,000 327,730 0.82 0.83 0.83 0.83 0.81 0.82 120,000 97,320 A BROWN CITYLAND DEVT 0.74 0.76 0.74 0.74 0.73 0.74 105,000 77,540 0.102 0.109 0.108 0.109 0.106 0.109 240,000 25,730 CROWN EQUITIES CEBU HLDG 6.28 6.5 6.26 6.28 6.26 6.28 8,000 50,082 CEB LANDMASTERS 2.85 2.86 2.85 2.85 2.8 2.85 1,331,000 3,752,050 CENTURY PROP 0.43 0.44 0.435 0.44 0.43 0.44 6,540,000 2,833,100 8.8 8.9 8.87 8.9 8.65 8.9 1,113,900 9,816,651 DOUBLEDRAGON 1.86 1.87 1.82 1.87 1.82 1.87 14,382,000 26,729,300 DDMP RT 6.75 6.91 6.91 6.92 6.8 6.8 66,800 459,061 DM WENCESLAO EMPIRE EAST 0.265 0.27 0.27 0.27 0.27 0.27 880,000 237,600 EVER GOTESCO 0.32 0.325 0.305 0.32 0.305 0.32 10,850,000 3,415,350 FILINVEST RT 7.93 7.94 7.94 7.94 7.93 7.94 3,184,900 25,285,616 1.12 1.13 1.13 1.13 1.11 1.12 880,000 987,620 FILINVEST LAND 0.89 0.9 0.88 0.9 0.87 0.89 247,000 215,830 GLOBAL ESTATE 8990 HLDG 10.04 10.34 10.02 10.4 10.02 10.34 216,500 2,236,474 PHIL INFRADEV 1.15 1.18 1.16 1.16 1.15 1.15 76,000 87,780 CITY AND LAND 0.9 0.92 0.92 0.93 0.88 0.92 230,000 204,680 MEGAWORLD 3.28 3.3 3.3 3.3 3.25 3.28 12,276,000 40,273,490 0.28 0.285 0.28 0.285 0.275 0.28 8,870,000 2,479,850 MRC ALLIED 18.3 18.32 18.3 18.32 18.3 18.32 1,128,900 20,678,404 MREIT RT 0.66 0.67 0.63 0.71 0.61 0.67 74,143,000 48,875,340 PHIL ESTATES PRIMEX CORP 1.99 2 2.01 2.14 1.92 2 1,079,000 2,139,480 RL COMM RT 7.3 7.31 7.29 7.32 7.29 7.31 2,472,200 18,043,826 ROBINSONS LAND 18.96 19 18.5 19 18.34 19 1,570,800 29,425,706 0.222 0.229 0.222 0.233 0.221 0.221 590,000 132,780 PHIL REALTY 1.51 1.55 1.57 1.58 1.57 1.58 95,000 149,850 ROCKWELL 2.58 2.63 2.58 2.63 2.58 2.63 963,000 2,487,200 SHANG PROP STA LUCIA LAND 2.87 2.97 2.87 2.98 2.87 2.87 201,000 581,480 SM PRIME HLDG 36.45 36.85 35.5 36.85 35.45 36.85 7,975,400 290,321,960 VISTAMALLS 3.8 3.87 3.86 3.87 3.75 3.8 44,000 167,030 1.37 1.38 1.36 1.37 1.33 1.37 288,000 390,130 SUNTRUST HOME VISTA LAND 3.8 3.81 3.8 3.83 3.75 3.8 786,000 2,985,930

SERVICES ABS CBN 13.76 13.8 13.92 13.92 13.72 13.8 50,500 697,996 GMA NETWORK 14.16 14.18 13.7 14.18 13.5 14.16 1,519,400 20,870,042 MANILA BULLETIN 0.405 0.43 0.405 0.43 0.405 0.43 140,000 57,900 GLOBE TELECOM 3,600 3,610 3,600 3,600 3,520 3,600 89,805 319,528,390 1,715 1,725 1,690 1,725 1,678 1,725 94,845 162,399,930 PLDT 0.071 0.072 0.07 0.072 0.069 0.072 135,050,000 9,598,030 APOLLO GLOBAL 31.95 32 31.6 32.05 31.15 32 28,164,400 896,292,170 CONVERGE DFNN INC 2.83 2.86 2.88 2.88 2.81 2.85 188,000 537,040 DITO CME HLDG 6.04 6.05 5.6 6.11 5.5 6.04 20,883,400 122,883,361 IMPERIAL 1.42 1.5 1.42 1.42 1.42 1.42 15,000 21,300 1.64 1.65 1.62 1.65 1.61 1.65 462,000 751,380 NOW CORP 0.32 0.325 0.31 0.325 0.31 0.32 1,450,000 457,400 TRANSPACIFIC BR PHILWEB 2.07 2.16 2.05 2.16 2.05 2.16 93,000 197,600 2GO GROUP 7.8 7.97 8 8 7.79 7.85 8,200 64,297 ASIAN TERMINALS 14 14.1 14 14.1 14 14.1 6,400 89,900 CHELSEA 1.76 1.77 1.74 1.76 1.68 1.76 1,379,000 2,357,340 49.1 49.5 47.35 49.45 46.9 49.45 538,000 26,227,715 CEBU AIR 197 198 192.9 198 191.7 198 1,838,920 360,929,510 INTL CONTAINER 20.5 21 20.05 20.5 20.05 20.5 2,800 56,590 LBC EXPRESS MACROASIA 6.24 6.25 6.29 6.44 6.15 6.25 3,767,600 23,694,901 METROALLIANCE A 1.43 1.46 1.46 1.46 1.41 1.42 26,000 37,210 HARBOR STAR 0.97 0.98 0.98 0.98 0.95 0.98 297,000 285,900 1.54 1.58 1.48 1.67 1.48 1.54 169,000 264,480 ACESITE HOTEL DISCOVERY WORLD 2.1 2.15 2.11 2.16 2.11 2.15 31,000 65,500 0.5 0.51 0.5 0.53 0.5 0.5 1,920,000 986,600 WATERFRONT IPEOPLE 6.94 7.49 7.49 7.49 7.49 7.49 1,000 7,490 STI HLDG 0.34 0.35 0.34 0.35 0.34 0.35 80,000 27,500 BERJAYA 6.51 6.59 6.5 6.8 6.28 6.59 394,200 2,603,278 7.9 7.94 7.66 7.94 7.6 7.94 3,059,600 23,935,447 BLOOMBERRY 1.52 1.54 1.59 1.59 1.51 1.54 169,000 257,500 LEISURE AND RES PH RESORTS GRP 0.88 0.89 0.84 0.89 0.81 0.88 2,814,000 2,451,300 PREMIUM LEISURE 0.445 0.45 0.435 0.45 0.435 0.45 5,920,000 2,659,300 PHIL RACING 5.5 5.8 5.8 5.8 5.8 5.8 80,000 464,000 ALLDAY 0.75 0.76 0.76 0.76 0.74 0.76 54,228,000 40,752,180 9.2 9.24 8.8 9.25 8.8 9.2 477,900 4,339,435 ALLHOME 1.41 1.42 1.42 1.42 1.41 1.41 1,574,000 2,223,090 METRO RETAIL 41.2 41.45 40.8 41.85 40.65 41.45 958,900 39,547,545 PUREGOLD ROBINSONS RTL 65 67 65.5 67 64.6 67 459,820 30,471,378 PHIL SEVEN CORP 90 94.8 91 91 90 90 1,540 138,650 SSI GROUP 1.23 1.24 1.24 1.25 1.19 1.23 1,683,000 2,057,210 30.6 30.7 30.05 30.6 29.6 30.6 1,473,900 44,639,865 WILCON DEPOT 0.223 0.234 0.23 0.234 0.221 0.23 2,920,000 668,600 APC GROUP 4.15 4.99 4.1 4.15 4.1 4.15 6,000 24,700 EASYCALL GOLDEN MV 505 530 540 540 500.5 530 5,520 2,919,900 IPM HLDG 6.9 7 7 7 7 7 3,000 21,000 PAXYS 2.06 2.1 2.1 2.1 2.1 2.1 727,000 1,526,700 3.94 4.05 3.95 4 3.94 4 840,000 3,359,240 SBS PHIL CORP

MINING & OIL ATOK 6 6.17 6.14 6.17 5.93 6.17 19,300 117,591 APEX MINING 1.38 1.4 1.38 1.4 1.38 1.4 180,000 248,920 ATLAS MINING 6.25 6.26 6.3 6.31 6.25 6.25 1,120,100 7,024,455 5.5 5.51 5.8 5.9 5.48 5.51 705,900 3,976,070 BENGUET A BENGUET B 5.4 5.6 5.8 5.8 5.6 5.6 78,000 442,860 0.28 0.29 0.28 0.28 0.28 0.28 10,000 2,800 COAL ASIA HLDG CENTURY PEAK 2.6 2.64 2.64 2.64 2.64 2.64 5,000 13,200 FERRONICKEL 2.12 2.13 2.1 2.12 2.06 2.12 1,264,000 2,655,540 GEOGRACE 0.205 0.21 0.21 0.21 0.21 0.21 600,000 126,000 0.126 0.13 0.127 0.13 0.125 0.126 13,550,000 1,714,690 LEPANTO A LEPANTO B 0.131 0.138 0.139 0.139 0.138 0.138 110,000 15,190 MANILA MINING A 0.009 0.0092 0.009 0.009 0.009 0.009 5,000,000 45,000 MARCVENTURES 1.42 1.43 1.34 1.44 1.33 1.42 12,258,000 16,938,580 NIHAO 1.01 1.04 1.01 1.04 1.01 1.01 136,000 137,590 NICKEL ASIA 5.26 5.27 5.19 5.28 5.17 5.26 2,340,700 12,287,726 0.76 0.77 0.73 0.77 0.73 0.76 454,000 344,560 ORNTL PENINSULA PX MINING 4.92 4.98 4.91 4.98 4.9 4.92 448,700 2,205,178 22.6 23 22 23 21.9 23 1,977,400 44,558,360 SEMIRARA MINING ACE ENEXOR 22.1 22.4 22 22.9 21.95 22.4 522,000 11,715,890 ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.011 143,800,000 1,443,900 ORNTL PETROL B 0.01 0.011 0.011 0.011 0.01 0.011 380,300,000 3,803,600 0.0092 0.0093 0.0091 0.0093 0.0091 0.0093 11,000,000 100,900 PHILODRILL PXP ENERGY 6.1 6.16 6.2 6.2 6.1 6.1 780,600 4,784,644

PREFFERED HOUSE PREF A 100 101 100 100 100 100 21,320 2,132,000 ALCO PREF C 104 108 108 108 108 108 1,810 195,480 CEB PREF 48.2 48.25 47.05 48.25 47.05 48.2 23,500 1,124,615 CPG PREF A 102.5 103 102.5 103 102.5 103 5,350 550,800 100.8 100.9 100.9 100.9 100.9 100.9 1,650 166,485 DD PREF FGEN PREF G 105.4 110 108 110.5 108 110.5 1,000 110,175 JFC PREF A 1,005 1,010 1,010 1,010 1,010 1,010 50 50,500 JFC PREF B 1,025 1,037 1,030 1,030 1,030 1,030 30 30,900 MWIDE PREF 2B 100 101 100 100 100 100 3,600 360,000 MWIDE PREF 4 99.8 100.7 100.7 100.7 100.7 100.7 1,000 100,700 102.2 104.9 104.9 104.9 104.9 104.9 110 11,539 PNX PREF 3B PNX PREF 4 997 999 999 999 998 998 1,090 1,088,410 PCOR PREF 3A 1,108 1,110 1,110 1,110 1,110 1,110 610 677,100 PCOR PREF 3B 1,140 1,168 1,138 1,140 1,137 1,140 220 250,545 SMC PREF 2F 79.35 79.7 79.05 79.3 79.05 79.3 55,110 4,358,945.50 SMC PREF 2I 79.55 79.85 79.55 79.55 79.55 79.55 1,300 103,415 76.5 77.2 77.2 77.2 76.5 76.5 740,050 56,613,860 SMC PREF 2J

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.4 13.5 13.72 13.72 13.5 13.5 14,900 201,238 GMA HLDG PDR 13.5 13.8 13.2 13.5 13.18 13.5 44,400 590,144

WARRANTS TECH WARRANT 1.07 1.09 1.02 1.08 1 1.08 1,244,000 1,312,480

-382,790 48,670,935 1,849,329.50 2,489,986 -128,154 3,685,172 7,527,495 77,785,690 -839,599 -9,100 -28,200 -4,211,438 35,744,550 -84,438,666 -87,789,415 -29,532,052 -12,666,865 -1,266,665 18,500 -49,454 -42,570 -195,750 -3,050,099.00 -11,481,390 27,000 -46,700 15,393,504 217,920 -14,345,340 554,350 -6,677,468 -254,860 7,100,264 4,410,616 -2,240 -7,850 110,971,925 114,000 1,633,750 87,075,620 39,077,055 218,400 -163,629,730 14,250 -671,164 -35,760 7,850 -1,400 58,450 12,957,045 150,763,666 -30,075 -135,455 960 8,440 -15,300 7,688,595 -84,240 54,000 4,159,270 1,260,929 -249,570 -13,188,045 -279,517 -126,050 242,200 6,190,225 -18,640 -1,526,700 -43,390 30,000 6,900 669,058 386,860 13,200 229,640 4,925,760 52,520 -1,386,974 -19,578 -3,495,230 3,391,515 -32,859 442,605 -45,450 3,563,574 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MERRYMART

18.04 1.75 3.65 3.14

FIRST METRO ETF

111.9

18.06 1.77 3.8 3.15

EXHANGE TRADE FUNDS

112

17.88 1.73 3.7 3.13

18.04 1.75 3.7 3.17

17.88 1.72 3.6 3.08

18.04 1.75 3.6 3.15

120,000 93,000 20,000 3,081,000

2,160,442 162,370 72,900 9,655,620

- -3,880 140,830

110.5 112 110.5 111.9 7,730 858,474 92,741

www.businessmirror.com.ph

Entrepreneur

Davao City family biz wins enterprise award

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—A familyowned enterprise on cleaning and sanitation products bagged an award from the Department of Science and Technology Region 11 (DOST-11) for outstanding performance during the Covid-19 pandemic.

The family enterprise EAST LA Inc. bested five other shortlisted enterprises for DOST’s Best Small Enterprise Technology Upgrading Program (SETUP) Adopter for Davao Region.

The shortlisted enterprises for the SETUP Adopters were adjudged on their “outstanding demonstration of productivity, resilience, agility, innovativeness, sustainability, and excellence amid the challenges of the pandemic,” DOST stated.

During the enhanced community quarantine here last year, EAST LA Inc. supported the medical and security front liners by providing gallons of hand sanitizers to Southern Medical Philippines Center and to the police and military checkpoints and other public areas.

The enterprise was headed by its president and chief executive offi-

cer, Ernest Karl L. Chua, after it was established in 2013 and exclusively trading cleaning and sanitation products to institutional clients. “The enterprise later expanded to manufacturing their own cleaning products, thus “transitioning the business to both trading and manufacturing,” DOST said.

In 2017, EAST LA Inc. applied for SETUP intervention to address the increasing demand and lack of equipment for a mechanized and more efficient manufacturing process, DOST said. Aside from the technology acquisition, the enterprise was provided with other interventions to improve product quality and marketability, increase productivity, and enhance their over-all competitiveness in the market.

The DOST said the SETUP interventions allowed EAST LA Inc. to engage in bigger operation and wider market scope through its broad range of cleaning products.

The virtual awarding ceremony on November 5 highlighted the Regional Science and Technology Week (RSTW) celebration. The enterprise received the plaque of recognition and P20,000 cash incentive. It would represent the Davao Region in the nationwide search for Best SETUP Adopter.

Israeli shares technopreneurship insights from the Promised Land

By Rizal Raoul S. Reyes @brownindio Contributor

W

ith a land area of 22,145 square kilometers or almost the same size as the State of New Jersey, Israel has made its presence felt in the world stage in several fields such as the arts, science, technology, agriculture, innovation and entrepreneurship among others.

In the field of entrepreneurship, Israel is no doubt a powerhouse with more than 6,000 start-ups present in the land of Natalie Portman, Gal Gadot, Golda Meir, and yes, Jesus Christ. Thus, it earned the moniker “start-up nation.”

According to Israeli technopreneur and Synthesis, founder Inbal Arieli, Israel has the highest density of start-ups per population in the world with 1 in over 1,400 per population. Moreover, Arieli pointed out that start-ups are operating in diversified industries such as water, agriculture, irrigation, desalination, cybersecurity and financial technology (fintech).

In a recent webinar organized by the Israel Chamber of Commerce in the Philippines (ICCP), Arieli said one major factor behind the success of Israeli start-ups is the presence of “oxygen” or funding for growth and innovation. In 2020 alone, Arieli said, more than $20 billion was invested in venture capital, the highest in the world. The result was a massive success as Israel has produced a lot of unicorns listed in the National Association of Securities Dealers Automated Quotations (NASDAQ), a global electronic marketplace for buying and selling securities.

In 2021 alone, Israel has produced 65 unicorns from only 18 in 2019.

“These unicorns are creating markets overseas and are serving as bridges between Israel and the global community,” said Arieli, who honed her entrepreneurial skills during her mandatory military service, serving as lieutenant in unit 8200 in the Israel Defense Forces’ elite intelligence corps.

CBInsights defines a unicorn company as a private company with a valuation over $1 billion. As of November 2021, the company said there are more than 800 unicorns around the world. Popular former

unicorns include Airbnb, Facebook and Google.

Chutzpah

Arieli pointed out the important role of chutzpah (pronounced as hutz pah) towards the development of an entrepreneurial mindset among Israelis starting at four years old.

At that young age, Arieli stressed that Israeli culture encourages risk-taking and entrepreneurship.

It is combined with skills acquired through educating and nurturing under the country’s support infrastructure.

One inherent feature of chutzpah, meaning boldness in English, is embracing uncertainty. It teaches entrepreneurs to be agile and not be afraid of failure. Arieli said Israeli start-ups are encouraged to ask, critique and collaborate.

Part of the chutzpah is adopting a Yihye Beseder mindset, which connotes optimism.

As technopreneur, Arieli and her co-mentors’ foremost responsibility is to address the challenges and uncertainties to make things better are the starting points of chutzpah.

She stated that one entrepreneur is not generally superior over the other. “We share the same muscles in our body but we have different skill-based environments. I believe that it should vary from one place to another,” Arieli said.

Arieli said chutzpah fits the gungho attitude of the millennials and Generation Z. “I think it is a positive development and this gives them agility on making decisions in chaotic situations,” she said.

After completing her military duties, and for the past 20 plus years, she embraced leading executive roles in the flourishing Israeli tech sector and has founded a series of programs for innovators, where she currently holds board seats.

Among her most popular keynotes are Chutzpah: Skills for the Future, From Special Forces to the Board Room and The Secrets of Successful Interviewers.

Arieli holds an LL.B. Law, B.A in Economics and an MBA, all from Tel Aviv University. A force to reckon with, she was featured as one of the 100 most influential people in Israeli tech and as one of the top 100 tech businesswomen speakers in the world.

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, November 24, 2021 B3

How a burger joint smashes ‘winners’ amid a pandemic

A

By Jasper Emmanuel Y. Arcalas

@jearcalas

RGILL Lance (LA) reaches atop the kitchen cupboard, foraging through piles of wooden chopping boards. He picks up one and handles it by the grip.

He returns to the lounge where Cali, a golden retriever, is playing with a tennis ball. LA picks up the ball from Cali while tightening his hold on the six-inch chopping board.

He throws the ball against the wall, then catches with the left hand, LA throws the ball again and catches it, until he finds the appropriate height to hit the ball.

Six bounces after, and a few barks from Cali, LA starts to hit the ball —pock!—with his make-do tennis racket.

The ball hits the white wall: The ball drops to the floor. Thwock! Tock!

That’s a 30-minute audio delight for this tennis player, doing this routine, sometimes with partner Ethel.

Hitting makeshift tennis shots has been LA’s routine “every time Metro Manila is under lockdown,” LA says. His “tennis court” is not made of clay and is without a net; it’s a 60-square meter burger joint found in Manila that’s bereft of curious burger customers.

From serving tennis balls across 24-meter-long courts, LA’s hands have been full serving cheeseburgers, chicken wings and fries. But nobody’s receiving those servings of his, until some one or two drop by the Dropshot Burger.

LA Cañizares and Ethel Cabezas were part of a growing Filipino populace that built up food businesses online to make ends meet in this running Covid-19 pandemic. But in June, the couple put-up a physical place for Dropshot.

They named their venture Dropshot since this short, slow return of the ball near the net (forcing the opponent to rattle quickly to the net) is one of LA’s favorite shots. Today, LA and Ethel find backs against the wall as the country continues to reel from the economic wrath of the SARS-CoV-2 pandemic. They ponder: when will their burgers hit those aces and winners?

A night to remember

Initially, the couple wanted to put up a rice retail venture. But logistical requirements such as import contacts and warehousing, plus the slow return on investment, led them to scrap the idea.

Little did they know that the dream of running their venture would materialize on LA’s birthday two years ago. That night of November 12, Ethel served her homemade burgers inspired by recipes she watched online.

“They were damn good!” LA recalled, grinning ear-to-ear in glee.

Dropshot’s start-up capital was P10,000; tennis players, mostly LA’s club mates, became the initial patrons supplemented by some online orders from people that learned about it through word of mouth.

From two burger variants, Dropshot’s menu expanded to five, and then more food items came along such as fries and chicken wings as customers clamored for more. Everything was Ethel’s recipes, which she all learned from YouTube and TikTok. At Dropshot, burgers are named after tennis terms: a dropshot is a cheeseburger; topspin has a barbeque “punch;” grandslam is a victorious quarter pounder; double fault means double cheeseburger.

What’s in the name

There’s another burger serving: Match Point, a one-inch-wide bacon, sandwiched between a slab of Spam and a patty topped with cheese.

Match point sticks out a la Rafael Nadal to the bottom bun. Fresh lettuce, onion and tomatoes smash themselves between the sliced Spam and the top part of the Brioche bun.

The toasted buns hold the meaty goodness together, turning it to one radiating “tennis ball:” Match Point exudes smokey off-the-grill fragrance while juices of the mediumwell 120-gram beef patty drip around the bottom bun.

Glancing at Match Point teeters you to victory (like in tennis, match point sees the player on the cusp—a point away—from winning the match). The first bite of Match Point yells victory: the grilled savory juices of the meat flushes around your mouth, just as the teeth grind through the crunchiness of the lettuce, the softness of the Spam slide, and tenderness of the Australian beef patty.

Add one more ingredient to Match Point, a fried egg (sunny side up), the burger becomes a new serving: Wimbledon.

These burgers range from P150 to P220. “We priced these burgers as competitively as possible for students. Some may say it is quite pricey, but I think it speaks of quality,” Ethel explained. “Everything here is made from scratch, even our sauces.”

The place to be

IN December, Dropshot sold 100 burgers after it tapped to cater to a tennis tournament. “We realized that this could really be a long-term business,” LA said.

“Everyone was saying your burgers are good. The next question always was where are we located, or if we have a physical place,” Ethel added.

Last summer, the couple scouted for a prospective place around the area of University of Santo Tomas.

Fortunately, they found a 60-meter vacant space between an Italian pasta restaurant and a tapsilogan, right beside an 14-floor condorm (condominium-type dormitory).

The place was also a pedestrian walk away from a soon-to-rise 36-storey condominium.

“Wala nang isip-isip, kinuha na namin. UST ito eh. Kahit saang sulok harap, likod o gilid—may tao,” LA said.

The couple started the renovation in May and by June 8, Dropshot Burger in Laon-Laan Road opened to the public.

The place boasts minimalist and woody complexions, with ceiling lights caged in rattan while artificial vines clinging atop. The walls, painted white, provide a homey backdrop to jell with the woody texture of the tables and chairs.

“What we expected then was a possible rush in customers since we heard that physical classes would resume by August,” LA said. What happened was the contrary: Manila was put under the strictest lockdown anew to arrest the Delta variant surge, which was then beginning.

‘ECQ Season 2’

Dropshot never went into the red.

At worse, they were breaking even in any given month. But the granular lockdown made them ponder about

LA (left photo) watches Ethel as she flips a Match Point burger in the menu. The couple founded the Dropshot Burger in November 2020, joining a growing Filipino populace that built up food businesses online to make ends meet in this running Covid-19 pandemic. In June, they opened their first physical burger joint.

Jasper Y. Arcalas

the future of their business.

The lockdown led to the cancellation of week-long reservations at Dropshot, which would have yielded about 15 to 20 customers a day.

About 30 burger buns and kilograms of vegetables were spoiled as a result.

In recent months, a normal day in Dropshot looks like this: squeaky clean tables, on-point chair arrangement, chill millennial music booming out from the speakers, and a lovely couple tinkering how to boost sales, both offline and online.

Should there be a walk-in customer, they will just buy one piece of burger, or a couple would share one piece. No chicken wings, no fries.

From time to time, a smartphonelike device would ping, notifying the couple that an order was made online.

For much of the days during lockdown, they were hopeful that online sales would salvage the day. It did, somehow, except for some days that they encountered “fake bookings” by bogus customers.

“I wanted to give up, especially since our sales dropped last month because of the ECQ. If our sales won’t improve in the next six months, we might as well close for good,” LA recalled telling Ethel.

“Don’t! We won’t fold because our food is great—and I believe we can tide over these challenges,” Ethel replied.

Back to match point

Both LA and Ethel admit that life at Dropshot is nowhere near their “usual lives.” Since June, the couple has been living inside the restaurant.

They had to wash the dishes, mop the floor, clean the griller, and deal with leaky pipes.

LA, an only child, is only used to taking care of himself. In fact, he just learned to do house chores at Dropshot. For him, his life in Qatar as a tennis coach was easier since he just had to attend to himself while working within his comfort zone. Ethel says she was the same as him, being the youngest child and unica hija in their family—living like a princess.

“We told ourselves: is this adulting?” LA laughed.

But if adulting was that one October Saturday, then the two would embrace it to the fullest. The couple invited some friends over and expected that they would be just the customers for the day. But that day turned out differently: it was a soldout kind of day. I was welcomed by an Air Supply song amplified by the chorus of patrons chugging beers and munching burgers when I entered Dropshot that Saturday night.

(Even the nights are better. Even the days are brighter. When someone you love’s beside ya) I ordered a Wimbledon but LA hesitated to respond, seemingly try-

ing to find the right words to tell a customer craving for some burger.

“We do not have Spam anymore.

Even bacon.”

He looked at Ethel, who was sitting in front of the cashier together with her friends. His eyes grew big and smiled: “We are sold out for today.”

“We still have some chicken wings though,” Ethel said.

That night they did not have any burgers left to offer by 8 p.m. And they have sold dozens of chicken wings and French fries. To top it all, three cases of beers were chugged down to emptiness, these scenes being a stark contrast of a barren burger joint two days earlier.

On to the next: Grandslam

AS it turned out, that Saturday night was not a one-off. They were able to sell at least 10 burgers daily in the succeeding days. They even stayed open beyond closing hours since customers followed the burger joint’s drop shots.

“It was exhausting but we are very happy,” Ethel told me three days after on a bright clear Wednesday night.

It was also the first time that they slept peacefully at night, thanks to exhaustion and a good day’s profit.

“The past nights were different.

We’re stone-cold sleeping not minding what to do tomorrow but [eagerly awaiting] pure excitement for the new day,” LA said.

The huge motivational boost that the couple got from the recent days had them regaining their hopes and setting sights 200 meters away from Dropshot: the doors of the UST home to over-40,000 enrollees.

“What more if there are students already? That’s what we are really looking forward to,” LA said. “We are much more excited.”

The country’s plans on resuming face-to-face classes are slowly becoming a reality, with the Commission on Higher Education announcing that areas under Alert Level 2 can operate on 50 percent capacity. Should UST suddenly buzz with people before the Christmas frenzy, the couple wants to smash their “grandslam”: multiple branches of Dropshot. “But first, we will get a nearby place to stay and buy a king-sized bed,” LA said while extending his arms wide open, showing how they have been longing to sleep on a proper cushion that they have been used to a year ago.

Beside a raging SARS-CoV-2 pandemic, entrepreneurs like LA and Ethel try to sneak in winners while confronting a brick wall that continues to slam Filipino entrepreneurship into oblivion. But LA and Ethel patiently await to reach their match point, the time when curious customers race to Dropshot and savor its “winners:” its burgers.

B4

Banking&Finance

Wednesday, November 24, 2021 • Editor: Dennis D. Estopace

BusinessMirror

‘Tax-the-billionaires’ tack receives mixed reactions

L

By Bernadette D. Nicolas

@BNicolasBM

AWMAKERS’ proposal to tax billionaires received mixed reactions from analysts amid opposition by government officials against the measure.

While admitting the proposed wealth tax can lead to revenue gains, the Department of Finance (DOF) is opposing the proposed wealth tax under House Bill 10253; it warned that passing this measure would lead instead to capital flight and “aggressive tax avoidance.”

Under House Bill (HB) 10253, individuals with taxable assets that exceed P1 billion should pay a 1-percent tax while a tax of 2 percent is imposed on taxable assets over P2 billion and 3 percent for over P3 billion.

While the bill’s authors estimate that their proposal will generate P236.7 billion per year, the DOF said it projects a “more conservative” P57.6 billion in revenues. Finance Secretary Carlos G. Dominguez III has said that “losses incurred from other taxes are far more substantial.”

The DOF chief also lamented that implementing the wealth tax will be “costly and complex” since this would require additional manpower.

Dominguez said there would also be a need to relax the Bank Secrecy Law and forge exchange of information agreements with other countries to determine the various aspects of a “super-rich” taxpayer’s wealth.

But IBON Foundation Executive Director Jose Enrique A. Africa said just because a wealth tax is complex doesn’t mean that it should not be done.

Africa argued that the growth of wealth among a few billionaires far outpaces the low income and assets of the poorest 70 million Filipinos. He added that modest reductions in the wealth of just around 3,000 billionaires can finance a huge expansion in government services, especially for ordinary Filipinos.

“The government’s job isn’t to do as little as possible but instead to do what needs to be done,” Africa told the BusinessMirror. “The DOF should address the lack of manpower, the laws to be changed and the inter-

national cooperation needed instead of lamenting these and avoiding doing the work.”

Moreover, he told the BusinessMirror it would also be better if government studied how to fix tax avoidance rather than being “defeatist” in this regard.

“Instead of retreating to paeans about simplicity, has the DOF considered international efforts to reduce the capacity of the rich to avoid taxes like a global asset registry, public registries of beneficial ownership, and tax transparency reforms? Or maybe exit taxes on net wealth for those who renounce their Filipino citizenship?,” Africa added.

Foundation for Economic Freedom President Calixto V. Chikiamco said the idea of imposing wealth tax is “nice but impractical” given that wealth comes in many forms, such as real estate, stocks, bonds, art, jewelry, bank deposits and even cryptocurrencies.

“How will the government be able to determine that on a global scale? The wealth tax may even lead to capital flight as the rich park their assets in foreign countries outside of the reach of local tax authorities,” Chikiamco told the BusinessMirror.

“We should tax monopoly profits or unearned wealth, but wealth due to risk-taking and innovation should be rewarded, not subject to more taxes,” he added.

Instead of imposing wealth tax, Chikiamco said it would be better to pass Package 3 of the Comprehensive Tax Reform Program (CTRP) to raise revenues and replace the outdated valuation system, which results in low valuations and low tax collection from the soaring price of real estate.

Package 3 of the CTRP is also known as the Real Property Valuation Reform bill, a version of which both the Upper and Lower Chambers has.

“It’s essentially a tax on idle real estate since owners have to make the land productive in order to pay the taxes on updated valuations,” Chikiamco told the BusinessMirror.

Ateneo de Manila University John Gokongwei School of Management Dean Luis F. Dumlao believes the government can collect about P75 billion already from imposing a wealth tax on the 10 richest Filipinos on the Forbes list.

However, Dumlao doubts that the proposed measure would lead to aggressive tax avoidance as claimed

by DOF. He also said the proposed tax is a “duplication” of the existing progressive individual income tax and real estate tax.

“An individual with a wealth of P2 billion will be subjected to a P10 million tax or something worth two luxury and/or sports cars. It is doubtful this P2-billion person will emigrate or commit a crime just to avoid P10 million,” Dumlao said.

Pru Life UK, Robinsons Bank launch special credit card

P

RU Life Insurance Corp. of UK (Pru Life UK) announced it will issue its latest exclusive credit card with unique benefits to 50,000 insurance policyholders in the first year of its rollout.

According to Pru Life UK President and CEO Eng Teng Wong, the card is part of the “long-term bancassurance partnership” between the insurer and Robinsons Bank Corp.

Wong said during the online launch last Tuesday that this “’alliance’ continuously diversifies its offerings to utilize the strengths of each company while providing added value to our customers.”

He explained that the card, which will be backed by financial-transaction processing services firm Mastercard Inc., is primarily offered to Pru Life UK employees, agents and

policyholders.

Robinsons Bank First Vice President Maire Dadufalza said they have already gathered 15,000 credit card applications since the soft launch.

“50,000 makes sense. It may sound small, but it’s actually not. It’s going to be a challenge,” Dadufalza said. “Thankfully, since we’ve started the partnership, it’s been a good relationship. And I think 50,000 is something that is something that we can deliver.”

Wong said it is feasible for them to hit the goal in the first year given that Pru Life UK has 40,000 agents in its workforce.

“If one agent can help bring in one customer, just one customer per year, you get 40,000 Right?” he said adding that the insurer’s existing base of 300,000 is “essentially growing on a

very healthy trajectory.”

Robinsons Bank President and CEO Efren Antonio S. Sarte is also encouraging their customers to avail the credit card.

“This unique credit card provides Pru Life UK policy owners with financial flexibility, along with health and wellness benefits that are exclusive to the credit card,” Sarte said. “It also provides them the convenience of a streamlined payment facility when paying their insurance premium, eliminating the risk of missed payments.”

The card has two variants that provides cardholders with the benefits that include free annual membership fee for the first year. Succeeding annual membership fees are waived when the Pru Life UK policy premium is enrolled in auto-charge facility.

Documents provided by Pru Life

said the card also offers zero-percent installment for three months on drugstores and hospital bills with a minimum transaction of P3,000 and maximum of P50,000 per year.

The card would also provide exclusive discounts and deals on membership fee of active lifestyle and health and wellness products. It gives one reward point for every P50 spent on non-Pru Life UK transaction and five points for every P50 spent on Pru Life UK transactions.

All other existing features of Robinsons Bank credit cards shall also apply to the card including: contactless payment; EMV-chip technology; electronic statement of accounts; and, installment plans (balance transfer, convert-to-cash, transaction conversion, balance conversion).

Bernadette D. Nicolas

Security Bank’s online cash-handling touted

S

ECURITY Bank Corp. is touting its digital cash management system (DCMS) that the lender said “enables organizations to closely and easily monitor cash flows, settle obligations on time, properly disburse funds, maximize liquidity and minimize the cost of doing business in the long run.”

In a statement, the bank said that “entrepreneurs who performed manual bookkeeping and vendor handling, for example, need not be reliant on traditional means of cash management.” The bank said that through its DCMS it calls “DigiBanker,” these entrepreneurs “now have an option to automate tedious and often time-consuming processes.”

“Many businesses used to view cash management as a nice-to-have value-added service provided by banks. Today, it is viewed as a vital tool in helping them run their business,” Security Bank Executive VicePresident and Transaction Banking Group Head John Cary Ong was quoted in the statement as saying. “And as these businesses go through their own digital transformation, digital cash management services are now a critical and integral part of their end-to-end financial operations.”

According to Ong, since the DCMS’s inception in 2002, the lender has helped over 30,000 small-tomedium enterprises and large corporations “handle their finances and

grow to where they are now.”

“As Security Bank continues to invest in the latest technology, we aim to empower businesses to reach their full potential,” he added.

According to the lender, its DCMS is used by five of the top 10 corporations in the Philippines.

“Developing a robust cash management system to ensure that the financial control of businesses is seamless is one of [our] core strengths,” the bank’s statement read. “With years of experience in transaction banking and cash management, the bank regularly updates its technology stack and keeps a laser-sharp focus on optimizing its platforms to offer new capabilities that improve

the overall customer experience.”

The bank said its “commitment to customer-centricity” has allowed it to help businesses thrive amid continuous disruptions.

The bank cited that a client since 2009 has leveraged its DCMS platform to help manage finances, from payments to the Bureau of Customs, settlement of government-related dues and check-handling.

The bank said its client started manually monitoring post-dated cheques and conducted daily submissions to a branch for deposit.

“However, as their business and revenues grew, the need to streamline its financial operations became a priority,” the bank said of its client.

www.businessmirror.com.ph

Seven of 10 Filipinos have GCash account

S

EVEN out of 10 Filipino adults have an account with GCash, the company behind the ewallet application said last Tuesday.

Globe Fintech Innovations Inc. (GFII) said in a statement it has registered over 51 million users of GCash as of end-October, translating to 70 percent of the country’s adult population.

GFII added that the finance app has already breached an initial fullyear target of P3 trillion in gross transaction value during the month, which is three-times more than last year’s record number.

GCash’s user engagement also continued to grow, with the app being used on average more than 2.5 times a day by active users, the micropayment service operator added.

Daily logins have likewise peaked at 23 million this year.

The rise of digital payments amid travel and movement restrictions buoyed electronic-wallet usage and take up since 2020, according to GFII. “We continue to embed GCash in the everyday lives of our users, which has in turn cemented our status as the undisputed market leader,” GFII President and CEO Martha M. Sazon was quoted in the statement as saying.

“We are proud to report that we have recorded four straight months of profitability, making GCash one of the few fintechs [financial technology] around the world that has proven that it can make money while providing accessible financial services to the public,” she added.

GFII, a wholly-owned subsidiary of Globe Capital Venture Holdings Inc., recently announced that it had raised over $300 million in funding, valuing the company at over $2 billion.

“We are proud to be recognized as the country’s first tech unicorn― a double unicorn at that―validating Mynt [GFII] as the definitive fintech investment in the Philippines and quite possibly in the region,” Sazon said.

The latest investment round was led by global investment giant Warburg Pincus, New York-based global private equity and venture capital firm Insight Partners, and Bow Wave Capital, one of GFII’s existing investors.

The round also includes participation from Itai Tsiddon and Amplo Ventures as well as capital from Globe Telecom Inc. and Ayala Corp.

Bianca Cuaresma

Beating inflation

T

HE forecasted Philippine inflation rate for 2021 is as high as 5 percent, which means that the typical basket of goods would now cost 5-percent more at the end of this year than when we started the year. How does one cope with such a situation?

It would be great if you could get a higher salary to make up for this 5-percent shortfall. However, during these difficult times, with the September 2021 unemployment rate at 8.9 percent and an even higher underemployment at 14.2 percent, you would be lucky to even have a job!

Most people end up just making do with less, which has pushed many Filipinos into poverty, projected by the World Bank to be at 18.7 percent in 2021.

How does one escape the menacing jaws of inflation?

It would be easy enough to say that you just need to have your cash flow increase by more than the inflation rate.

The sad reality is that this is much easier said than done. You cannot simply rely on salary increases nor expect that kind of return from your savings account or a money market placement in a bank, plus you have to deduct the withholding taxes on your interest income.

Where does that leave you?

You need to make the right investments. For this column let us assume that you do have some savings that you can invest. The problem is finding the right investments that will give you a higher rate of return than the inflation rate. Let me share with you some investment options that are able to consistently yield a higher rate than inflation. These would be equities, dollar denominated fixed income securities and/or mutual funds, properties and going into business. Investing in the stock market is certainly not for everyone; but if you know what you are doing, it could provide you with a great return over the long run. Just in the Philippine Stock Exchange alone there are many options for retail investors to allow for scalable investments.

You can have stocks that provide a decent return through cash dividends such as REITs or real estate investment trust. You can invest in index stocks that mirror the Philippine Stock Ex-

Finex free enterprise George S. Chua change Index. You can put your money in IPOs (initial public offering), which has mostly gone up on the first day of listing and hundreds of other stocks.

You may also want to consider foreigndenominated fixed income securities and/or mutual funds as a hedge against inflation. In the case of the Philippines, you can get a double whammy from the high inflation rate and a devaluing peso at the same time.

Getting into a more stable currency such as the US dollar and investing in the various fixed income and funds that provide a fairly consistent yield higher than our inflation rate is not a bad option. As an example, BlackRock has a number of dollar-denominated mutual funds that have consistently yielded a higher return than our inflation rate.

Properties—which include country club shares—have been very kind to me and has provided me returns in multiples over the long run. However, there are associated costs such as property taxes, association dues and monthly membership dues, maintenance and possibly legal and security expenses that you have to contend with.

Finally, you can go into your own business that may just be a micro- or small enterprise if you don’t have a big amount of capital. I know many people who are able to make a living by trading, home cooking, operating a sarisari store and so many other options.

Some of them are even able to grow their businesses into medium and large enterprises.

Rather than wait for your employer to give you a salary increase, don’t you think it is about time you put things into your own hands?

The views and comments of George Chua are his own and not of the newspaper or Finex. Comments may be sent to georgechua@igsat.asia.

LandBank released ₧89B cash grants to 6.3M families in first nine months

S

TATE-run Land Bank of the Philippines (LandBank) announced it has released P89.45 billion in cash grants to 6.3 million low-income families as of the first nine months of 2021.

Of the total releases, P82.72 billion in cash grants were distributed to 4.4 million beneficiaries under the government’s Conditional Cash

Transfer (CCT) program, the lender said. The program is intended to support poor households with children aged 18 years old and below.

The remaining P6.73 billion was released to 1.9 million beneficiaries under the Unconditional Cash Transfer (UCT) program of the Department of Social Welfare and Development, the Landbank said in

a statement. The DWSD program is part of support interventions in line with the implementation of the Tax Reform for Acceleration and Inclusion (Train) law (Republic Act 10963).

We remain “one with the national government in the immediate delivery of social protection interventions and much-needed

financial relief to vulnerable sectors,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying. “Under the ‘whole-of-nation’ approach, we work closely with the DSWD and other government partners at the forefront of extending responsive and impactful services.”

The bank said it also continues

to distribute its cash cards to CCT and UCT beneficiaries “to make receiving and accessing benefits easier and more convenient.” The cards can be used for cash withdrawals at LandBank ATMs and agent banking partners, and for cashless purchases in groceries and drugstores, among others, the lender added.

LandBank said that as of September 30, it has produced 6.4 million cash cards, of which 4.4 million cards are already being utilized by beneficiaries. CCT and UCT beneficiaries may also receive their benefits via over-the-counter transactions at Landbank branches and through various conduits, the lender said.

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, November 24, 2021

B5

Sticks and stones: How to be unaffected by what others say

I

USED to be a people-pleaser. Every little comment about how I looked, dressed, or acted, I corrected right away for fear of being singled out or, worse, being expelled from the group.

But there came a point when I decided to just stop and do what I felt was the best for me.

Dwelling too much on your insecurities or what others would say about you can become a source of stress and anxiety. Social media has made it easier for people to build a whole persona far from who they really are, and they place their personal value on how many likes they have or how many have commented on their posts. This is unhealthy and possibly dangerous if the persona is totally removed from who they are in reality.

But not all perceptions are wrong in themselves.

Other people’s observations can validate how we see ourselves and strengthen our self-image. It can also make us understand ourselves more and help us adjust our behavior as needed. I have read somewhere that when people challenge our boundaries, we move the person, not the boundary.

To remain unaffected by what others say about you, you first need to ask yourself why you reacted the way you did. Sometimes, other people’s comments are not actually directed against you but because of your insecurities, you react negatively.

Sometimes, we place too much premium on what others say when they may not even be talking about us. Often, other people’s words reflect what they are actually feeling. So, before you take anything personally, think about why you reacted the way you did and differentiate your insecurities from other people’s words.

You also need to understand who you really are at your core. Sure, we wear many hats when we do our work, talk to friends, or even when we are with different family members. But having a good understanding of who you are and what you believe in will make it easier for you to brush off comments that

do not reflect who you really are.

You also need to remember that people’s opinions are not facts. People seem to think that just because they are entitled to an opinion or free speech means that they can say whatever they want to. This might be true but understand that one’s opinion does not represent a whole group, much less what is true about you. They are merely saying something from their perspective, but it might not necessarily be true for you. You should expect that people will always have

different opinions about you no matter what you do.

So, be true to yourself and do what makes you happy.

The only opinion that should matter is your opinion. Taking responsibility for your actions also means being accountable to what you do with your own opinion. If you do take somebody else’s opinion, carefully consider the source. If the opinion comes from trusted friends or family members, they might see something which you do not see about yourself.

But when it comes from people you barely know, take

it with a grain of salt. Not everyone will have your best interest at heart so be careful who you ask.

I once saw a pin that read: “Whoever said nobody is perfect is so unfair; he has not even met me.” While amusing, the pin actually teaches us to think of ourselves as being enough. True, nobody is perfect, but we can always learn to love ourselves first. And as the song goes, it is the greatest gift of all. Letting go of the notion that we can be perfect or that we need to maintain perfection is liberating and uplifting. I am not saying you should not strive to do your best, but you must come to accept that what you have done is enough and you have given your best effort.

Not everyone will like you (read that again), and that is okay. This is one of the most liberating things I have learned as an adult. Just because someone does not like you does not mean you are a bad person, or they are a bad person. Sometimes, it is just a difference in personalities and preferences. Learn to work with people you do not like by clarifying roles and expectations. This helps both of you establish a professional relationship of mutual respect. You just need to know what you need to deliver and maybe throw in an extra effort or two to possibly win them over. If it works, good for you. If not, then you can take comfort in the fact that you tried.

You also need to work on your insecurities. Most of your insecurities come from the way you look or from how your immediate family members have treated you. Their insecurities can scar you for life and the only way to minimize their power over you is to acknowledge them and then focus on what you can do. This is easier said than done but you have to start somewhere. If you can do something with your insecurities, do so at your own comfort and pace.

To help you have a support network, look for your own group. It always helps to be surrounded by people with tastes and values similar to your own.

They can keep you in check when you go against your own values, as well as provide the necessary encouragement when you are down.

And when it becomes unbearable, seek professional help. If you notice that you keep falling into the same cycle of anxiety and stress from people’s comments against you, it might be best to seek a specialist who can help you break through the cycle.

Words have the power to bring a person down or lift him/her up. You will not always be given encouraging words, but you have the choice if you will let them affect you. I say, take whatever you can to make yourself a better person and throw away those that stop you from growing. n

IKEA is finally in the Philippines, first store opens on Nov. 25

By Dinna Chan Vasquez Photos by Juliana Maxine Vasquez WHEN you visit IKEA’s first Philippine store at the Mall of Asia Complex in Pasay City, be sure to wear comfortable shoes because you’re going to be doing a lot of walking. The country’s first IKEA store occupies five floors and covers an area of 68,000 square meters. That’s the equivalent of 150 basketball floors.

Two of the floors serve as IKEA’s warehouse while the three house the showroom with different rooms, a design studio and the marketplace. There’s also a café, bistro and restaurant where you can enjoy IKEA’s famous meatballs.

The world’s biggest IKEA opens November 25, Thursday, and here’s the first thing you should remember: You don’t just go there and walk in. You need to make an appointment to shop. To do that, go to www.IKEA.com. One booking can be up to four people, including yourself.

Once you get there, you won’t get lost. Just follow the white arrows on the floor and you’ll be okay. It will be a long trek but one that you’ll enjoy especially if it’s your first time at an IKEA store.

The showrooms are designed with small spaces in mind.

There’s even one room that’s been designed for a single lady living in a studio in an old place. There’s a room for a single male gamer and another one for an artist. Of course, there are many rooms designed for kids, all using IKEA’s furniture, decor, and many useful and practical items.

For its first store in the Philippines, IKEA has incorporated some Filipino details—such as capiz doors and windows and Spanish tiles—in some of the rooms. These rooms are meant to provide inspiration on what you can buy to spruce up your home and improve your way of living.

IKEA is a brand that started in Sweden in 1958. It is known for its modern designs in appliances, furniture and goods for the home.

So here are some tips and tricks for when you finally get to visit the IKEA store in Pasay City: n You need to walk through the showroom before you get to the really fun part—the marketplace where all the goods are in. They are divided according to rooms. For instance, one area is devoted to coffee stuff alone. There's a batteryoperated milk frother there for P50. The marketplace has sections for the bedroom, kitchen, bathroom, garden, and so on. n If they run out of carts at the entrance, no worries.

There's an abundance of carts at the marketplace. Having a cart while touring the rooms is just an encumbrance. n Make a list and check it twice or thrice. There's a section where no item is priced at more than P100 so things can get overwhelming. This is particularly true when you get to the self-serve furniture area where you can find water bottles for P50 each, IKEA branded towels and shirts, and many other stuff. n Expect long lines at the bistro, which serves the famous IKEA meatballs, but don't fret because you can find the meatballs (Köttbullar) in the frozen section of the food market. If you don't eat pork and/or beef, you can try the chicken meatballs (Kycklingköttbullar), the vegetable balls (Grönsaksbullar) or the plant balls (Huvodroll). You can serve the frozen balls at home (you can pop them in the oven or the microwave) and plate them with mashed potatoes, blanched vegetables and the lingonberry jam (Sylt Lingon) which IKEA also sells. n While there is scheduling when it comes to store visits, you can take your time once you're there. There is no time limit for your visit to the IKEA store. You can stay as long as you want so use that time to explore and enjoy the showroom and look at all the merchandise carefully.

n You can start your Christmas shopping at IKEA. The Knolig coin purse with chain is only P50 and so are many of their mugs, cups, plates, and even bowls. n If you like something from one of the showrooms, take a photo of the product tag. When you get to the self-serve area and go to the row number where the product is located. n Here are some of my best buys from IKEA: bed sheets, towels and frying pans. Another good find was Glis, a set of three stackable boxes with lids for P150. These boxes are great for storing odds and ends like hair ties and stickers.

If you're a K-pop fan, you can also use these to store photo cards. n IKEA espouses sustainability so many of their products contain sustainable and recycled materials. For example, IKEA works with the Forest Stewardship Council to take care of the world’s forests through responsible forest management.

This is because wood is the material most closely associated with IKEA and wood comes from trees. IKEA's LED light bulbs also use 85 percent less energy and last 20 times longer than incandescent bulbs.

IKEA Pasay City is at Marina Way, Mall of Asia Complex alongside Entertainment City. The store will be open from 10 am to 10 pm.

PHOTO BY ANDREW WISE ON UNSPLASH

B6 Wednesday, November 24, 2021

The World’s First EDGE Zero Carbon Certified Portfolio is in the Philippines

N

EO’s real estate portfolio is the first in the world to be certified with the International Finance Corporation’s EDGE Zero Carbon certification.The retrofit plans for the seven office buildings were verified by EDGE partner SGS-Sintali in October 2021, well ahead of the company’s original goal of net zero by 2030. By becoming a Zero Carbon Champion, NEO hopes to inspire property owners and managers around the world to commit to Net Zero especially for existing buildings. As a climate catastrophe looms, vulnerable countries like the Philippines need to ramp up efforts across key sectors such as real estate where certifications for green buildings and Net Zero are powerful and impactful strategies. One stellar example is EDGE or the Excellence in Design for Greater Efficiencies.

An innovation of IFC, EDGE is a green building standard, rating system and free online platform designed for emerging markets. The EDGE Zero Carbon Retrofit Protocol was developed to provide a pathway to achieve zero carbon for existing buildings. For green retrofit projects to be certified under this new protocol, companies must verify that their retrofit design meets the minimum 40% operational energy efficiency

improvements, as well as prove that the operational energy from the previous year is from renewable sources and/or carbon offsets. Once the retrofit is completed within a three-year period, the project will undergo final certification.

NEO’s buildings are projected to have from 41-49 percent energy savings with energy sources procured from the ‘Cleanergy’ portfolio of Aboitiz Power Corporation.

Aside from their contribution to climate change mitigation, these green and zero carbon buildings positively impact NEO’s #theNEOway community. Companies and tenants can now be assured that they are working in buildings that promote and protect both human and planetary health.

Green retrofits will play an increasingly important role in achieving global climate goals; they also represent a sizable investment opportunity in emerging markets. According to Vivek Pathak, Director and Global Head of Climate Business at IFC, “NEO’s achievement sets a precedent.

Developers with existing buildings should raise their climate ambitions toward improving returns for their investors and increasing the value of their assets while generating positive outcomes for the environment.”

“We desperately need our businesses to become Net Zero in order to avert a climate

catastrophe. By publicly committing to Net Zero then being the first portfolio in the world to achieve EDGE Zero Carbon Certification, we have proven that it is possible even for existing buildings in markets like the Philippines. Regardless of your size, industry, or country - what matters most is that we start on our Net Zero journey as soon as possible,” added Raymond Rufino, CEO of NEO. Sustainability has always been at the core of NEO’s business.For the past years, all buildings have achieved 5-star certified green buildings under BERDE and have been awarded by the Philippines’ Department of Energy (DOE) with Energy Efficiency Awards.

“Net zero is far from simple, but it's realistic and possible. Across any industry, it is important to look at the overall impact of emissions before taking any steps forward. Net zero pledges are achievable by accompanying them with deep management commitment and strategic policy structures.

Our existing buildings were not initially designed to be net zero but we were able to achieve the goal for all 7 buildings. If we at NEO can do this, I'm sure all our fellow owners, developers, and managers can also make the commitment and reach net zero“ added Gie Garcia, Managing Director of Property Management, NEO.

Globe highlights importance of ‘parental engagement in school’ via Global Filipino Teachers series with DepEd

“I

T takes a village to raise a child.”

This African proverb seems to be even more relevant in this period.

Parental engagement in school has become more vital for learners, especially with the shift in the educational landscape brought about by the global health crisis.

The topic was discussed in detail during the first session of the 4th Professional Development Series for Teachers on Parental Engagement presented by the Department of Education (DepEd) National Educators Academy of the Philippines (NEAP) in collaboration with Globe’s Global Filipino Teachers. The series seeks to define and differentiate parental involvement and engagement, share the benefits of engaging parents in their children's learning, and identify the challenges that they face.

During the first session, it was suggested that when the school cultivates parental engagement, the students stand to benefit a great deal -- leading to results such as increased academic achievement, better behavior in the classroom, and positive change in the child’s personality.

“Globe has always considered the provision of quality education a top

priority. This commitment propels us to continuously evolve our learning programs.

With the current circumstances, we are again helping our educators, students, and parents adjust to the demands of the times beyond connectivity,” said Yoly Crisanto, Globe Chief Sustainability Officer and SVP for Corporate Communications.

Teachers also learned the difference between parental engagement and parental involvement when it comes to learning. A quote from ASCD, a passionate community of life-changing educators, served as an example for the significant learning point during the session.

According to an article released by ASCD Educational Leadership, entitled “Involvement or Engagement?” said: “We need to understand the difference between family involvement and family engagement.

One of the dictionary definitions of involve is ‘to enfold or envelope,’ whereas one of the meanings of engage is ‘to come together and interlock.’ Involvement implies doing to; in contrast, engagement implies doing with.”

Participants learned that when schools involve parents, they are leading with their institutional self-interest and desires. On

the other hand, engaging means leading with the parents’ self-interests to develop a genuine partnership. This elicits ideas about what both parties could do to help their child and the community better. Parents are also challenged to do something about what they feel is important to them.

Developing better parent engagement, though, is not without challenges. The session shared five reasons for the typical low parental engagement seen in schools across the nation. The top reason is time constraints, followed by language barriers, particularly among immigrants, lack of motivation, lack of knowledge, and inconvenience.

The second part of the session involving “Parental Engagement: Exploring Parental Engagement Practice in the School” was also done last November 19, meanwhile the last two sessions on “Parental Engagement: Building a Strong Culture of Parent-School Partnership” are slated for November 24 and 26.

Catch the 4th series of the GFT at 2:00 pm to 4:00 pm via Globe Bridgecom, DepEd Philippines and DepEd NEAP. Catch the DTP e-Modules also by visiting the Globe Bridgecom YouTube page at https://www.youtube.com/user/ GlobeCSR. Globe strongly supports the United Nations Sustainable Development Goals, particularly UN SDG No. 4, which ensures inclusive and equitable quality education and promotes lifelong learning opportunities for all, and UN SDG No. 17 on Partnerships for the Goals. Globe is committed to upholding the UN Global Compact principles and contributing to 10 UN SDGs.

MERALCO ENERGIZES COVID-19 TREATMENT AND QUARANTINE FACILITY IN QUEZON CITY. In its continuing support to the Government and Private Sector’s fight against COVID-19, Meralco installed a new primary metering facility connecting the privately-owned Quirino Memorial Medical Center to the utility’s distribution line. This project also involved the retirement of three (3) 75-kVA Distribution Transformers which were earlier used as a temporary facility for the said hospital. This COVID-19 treatment and quarantine facility, located along Katipunan Street, Barangay Blue Ridge A., Quezon City, is one of the many vital COVID-19 facilities in the Meralco franchise area that are given the highest priority in terms of providing safe, adequate, and reliable supply of electricity, in line with the company’s thrust to assist the government during the pandemic. To date, more than 140 vital COVID-19 facilities have already been energized

by Meralco which include government offices, hospitals, testing laboratories, quarantine and vaccination centers, and vaccine storage facilities.

Divina named Managing Partner of the Year

D

IVINALAW Managing Partner Atty.

Nilo T. Divina was recently recognized as Managing Partner of the Year in the 2021 Asian Legal Business (ALB) Philippine Law Awards in a virtual ceremony held last November 19, 2021.

DivinaLaw, which celebrated its 15th anniversary earlier this year, was also a finalist in nine other categories. These categories are Philippine Law Firm of the Year, Arbitration Law Firm of the Year, Data Privacy and Protection Law Firm of the Year, Immigration Law Firm of the Year, Intellectual Property Law Firm of the Year, Labor and Employment Law Firm of the Year, Litigation Law Firm of the Year, Dispute Resolution Lawyer of the Year for senior partner Atty. Enrique Dela Cruz, Jr., and M&A Deal of the Year (midsize).

Divina’s award was given in recognition of his leadership, professional accomplishments, community development initiatives, and his contribution to the firm, the Bench and Bar, and the general public.

Asian Legal Business (ALB) magazine is a leading legal publication owned by Thomson Reuters. ALB received more than 270 entries

DEAN Nilo Divina for this competition which were evaluated by a panel of judges from the legal academia, inhouse lawyers, firms, and legal associations in the region.

CCP announces PPO Recital Series 2021-2022

I

N view of the ongoing pandemic, the Philippine Philharmonic Orchestra continues to seek alternative ways to serenade audiences with classical music by staging an online Recital Series to be held from November 2021 to June 2022. The Recital Series will be streamed via the CCP and PPO Facebook Pages at 8pm.

The first recital opens with flutist Hercules Santiago performing Otar Taktakishvili’s Sonata for Flute and Piano on November 26.

The second recital features clarinetist Ariel Sta. Ana as he renders Robert Schumann’s Fantasiestucke Op. 73 and Michele Mangani’s Pagina d’ Album for Clarinet and Piano on December 31.

French horn player Ernani Pascual welcomes the New Year with the third recital as he interprets Hermann Eichborn’s Sonate fur Waldhorn und Klaiver, op. 71 on January 28, 2022.

The fourth recital puts trumpet player Glober Calambro on spotlight as he performs Paul Hindemith’s Sonate on February 25.

The fifth recital centers on cellist Giancarlo Gonzales with a rendition of Claude Debussy’s Cello Sonata and Svante Henryson’s Black Run on March 25.

The sixth recital continues with violinist Dino Akira Decena interpreting two works

by NicanorAbelardo: Sonata for Violin and Piano, and Romanza on April 29.

The seventh recital focuses on viola player Rey Casey Concepcionas he renders Paul Hindemith’s Viola Sonata Op. 11, No. 4 and Max Bruch’s Romanze Op. 85 on May 27.

Contrabass player Ariston Payte III closes the recital series with a performance ofAdolf Misek’s Sonata No. 2, Op. 6 on June 24, 2022.

For more information, visit the CCP website (www.culturalcenter.gov.ph) or follow the official CCP and PPO Facebook pages.

ARIEL Sta Ana (Clarinet)

HERCULES Santiago (Flute)

ERNANI Pascual (French Horn)

ARISTON Payte III (Contrabass) GIANCARLO Gonzales (Cello)

DINO Akira Decena (Violin)

GLOBER Calambro (Trumpet)

REY Casey Concepcion (Viola)

BusinessMirror

Editor: Tet Andolong

Wednesday, November 24, 2021 B7

Champions of sustainability

A

By Rizal Raoul S. Reyes

yala Land Inc’.s AREIT and Italpinas Development Corp. (IDC) are walking the talk in championing a sustainable future.

AREIT Inc. (AREIT), the pioneer realestate investment trust (REIT) in the Philippines, is committed to the Environmental, Social, and Governance (ESG) principles through sustainability programs that will deliver the most benefit to the community and support its path towards carbon neutrality and net zero emissions. It is also on track towards finishing its Scope 1 and 2 emissions by the end of the year, while moving towards Scope 3 and net zero emissions from operations of its existing buildings by the end of 2022. Scope 1 emissions are greenhouse gas (GHG) emissions coming from the use of fuel such as those in generators and vehicles.

Scope 2 refers to emissions coming from electricity consumption in common areas controlled by AREIT, while Scope 3 refers to other emissions from AREIT’s value chain.

“As a sustainable REIT, we believe that moving towards net zero carbon operational emissions is the most impactful environmental initiative we can undertake. By using renewable energy in our buildings, we not only achieve AREIT’s ESG objectives, but also enable our building locators, many of whom are top multinational corporations, to achieve their own ESG standards,” AREIT President and CEO Carol T. Mills told the BusinessMirror in an e-mail interview.

AREIT’s Makati-based buildings, Solaris One, Ayala North Exchange and McKinley Exchange, and The 30th Corporate Center in Pasig, have converted from using coal to renewable-energy sources. The company expects to reduce 80 percent of its 10,000 tCO2e (tonnes of carbon dioxide equivalent) businessas-usual emissions through the use of renewable energy, while the remaining 20 percent will be offset through AL’s carbon forests.

Mills said the ESG strategies are implemented across all its managed properties based on the four sustainability focus areas of its sponsor, ALI: 1) site resiliency through responsible green masterplanning, 2) pedestrian mobility by enhancing transit connectivity and the commuter experience, 3) resource efficiency by minimizing energy waste and environmental footprint, and 4) local economic development through the economic value generated by its business and its locators.

Environmental programs that make a difference AREIT’s properties have allocated open and green spaces to provide a healthy environment for the community, as well as a place for safety or refuge in the event

of emergencies. Further, the properties feature District Cooling Systems (DCS) which helps decrease electricity consumption by 20-35 percent compared to regular cooling systems. A lot of AREIT’s buildings are also Leadership in Energy and Environmental Design (LEED)-certified, such as the Teleperformance building in Cebu, One Evotech in Nuvali and Vertis Corporate Center in Quezon City.

AREIT also reduced its carbon emissions continuously through significant shifts to renewable energy, and by allotting compensation for fuel consumption through ALI’s carbon forest stock.

Its measured electricity intensity for its buildings in 2020 has improved to 125.48 kWh/sq m, which is much lower than the Asean benchmark of 160 kWh/sq m.

A growth catalyst AREIT’s office buildings are also economic growth drivers by attracting international and local business locators to its properties. These locators have contributed an estimated P6.2 billion to P9.8 billion in capital expenditures to the country’s economy. The top locators from the business-process outsourcing (BPO) altogether have generated more than 100,000 Filipino jobs.

The company advocates good corporate governance that sustains value for all its stakeholders. Transparency, disclosures and compliance with REIT Rules are adhered to, including best practices on internal control and professional management to safeguard its assets.

AREIT also established a Board Sustainability Committee to provide oversight and strategic direction for its sustainability practices and ESG initiatives.

“While we remain very focused on AREIT’s key investment fundamentals namely: prime locations, stable occupancy of quality tenants, contracted escalations, professional management experience, as well as ALI’s sponsor track-record, we believe that working towards carbon neutrality and net zero emissions will advance AREIT towards becoming a truly green and sustainable REIT,” Mills said.

All-around sustainability Romolo Valentino Nati, executive chairman and CEO of IDC, believes sustainability will become more and more important for developers to pursue in the future.

For IDC, Nati said the concept of sustainability must start from the understanding that resources are not infinite.

“We need to find ways to satisfy the needs of the present generation without compromising the ability of future

MIRAMONTI

Italpinas Development Corp. (IDC) Executive Chairman and CEO Romolo Valentino Nati

generations to meet their own needs in due time,” Nati said.

On top of that, builders must also understand that ever ything they do has an impact on the environment. As the indigenous Native American saying goes, we do not own the world, we just borrowed it from our children.

Nati pointed out in an interview with the BusinessMirror that sustainability also covers social sustainability and financial sustainability. “All those things must go together,” he said.

He also sees sustainability as an opportunity rather than a threat. It is an opportunity because it will lead developers and in general investors in all sectors, to become more conscious about sustainability and allocate more resources to achieve that. Nevertheless, it is a potential threat because it can be used by companies as a mere empty marketing tool that could lead to greenwashing creating false solutions and misled advocacy. This could even lead to more consumption of disposable material if marketers and social media use a

Ayala North Exchange

greenwashing message to spur demand for altogether new classes of “stuff ” for sale, in addition to what is already in use.

He also urged developers to get a reputable third-party organization to guarantee the end-user of a product’s commitment and concrete contribution to sustainability.

Doing it the IDC way Every IDC project begins with an assessment of the site’s characteristics.

This includes elevation, latitude, wind data, topography, and other physical traits that the final building will harmonize with. The assessment also considers more subjective assets that the site may have. For example, the stunning view of Mount Makiling from Miramonti Residences, or the sweeping vista from high hills to Macalajar Bay from IDC’s Primavera City.

Since every project is unique, IDC strives to optimize the site and its conditions. This is where development is an art and not just a process.

In order to have a positive impact on the environment, IDC believes there is a need to adopt green development principles on a massive scale. Although it is a huge challenge especially when consumers are distracted by so many other options, the obstacle can be overcome by showing that green is not only more efficient, but also more comfortable, more beautiful, and more harmonious.

“We deliver the proof of this in the form of our actual tangible structures at the right price point. This is what we offer to the Philippine real-estate market,” Nati said. Nati also pointed out that price point is also an essential part of the solution. He said IDC aims to make green buildings more accessible.

Ascott Philippines launches Somerset Central Salcedo Makati

T

he A scott Limited Philippines (TA L) inaug urated its newest ser v iced residence in Ma k ati, strengthening the company’s presence as one of the largest inter nationa l hospita lit y players in the Philippines.

Located at H.V. Dela Costa St. in Sa lcedo Vil lage, Somerset Centra l Sa lcedo Ma k ati presents the comfor ts of a home and the conveniences of a hotel in one of the countr y’s most rewarding business and lifest yle distr icts.

T he residence offers 285 wel l-appointed units spread across five

lu xur ious apar tment config urations, as wel l as a host of amenities for leisure and business.

Present dur ing the r ibbon-cutting ceremony for the opening of Somerset Centra l Sa lcedo Ma k ati were T he A scott Limited Philippines Deput y Countr y Genera l Manager Philip Bar nes, Grand Pine Inc.’s Board Member Denise Lieuson, Singapore A mbassador to the Philippines H.E. Gerard Ho Wei Hong, Depar tment of Tourism OIC-A sst. Secretar y for Tourism Development and DOT-NCR Reg iona l Director Woodrow Ma-

quiling and T he A scott Limited Philippines Cit y Manager Susan Sa lcedo.

T he A scott Limited Philippines has close to 5,500 units in 27 proper ties under its por tfolio.

T he company is look ing to open developments in Quezon Cit y, Greenhil ls, Lag una, Davao and Cebu in the years to come.

To know more about Somerset Centra l Sa lcedo Ma k ati, v isit https://www.discoverasr.com/en/ somerset-ser viced-residence/philippines/somerset-central-salcedomakati.

Sports

POC: Obiena’s career in peril

T

HE Philippine Olympic Committee (POC) on Tuesday expressed deep regret over Ernest John “EJ” Obiena’s predicament in his own federation and vowed to conduct an investigation on the flaming issue that has put the Olympian pole vaulter in an ugly situation.

“We are in deepest regret to realize that one of our Olympians, multi-medalist and great inspiration Ernest John Obiena of athletics, to be involved in this squabble with his home federation,” POC President Rep. Abraham “Bambol” Tolentino said.

Tolentino said Obiena’s declaration to retire at this stage of his globally budding career would be a great loss for Philippine Sports.

“I am very disappointed. They could have handled the situation internally absent of any misfires from both parties,” Tolentino said. “A bountiful career is now in peril.”

Obiena, together with his legendary Ukranian coach Vitaly Petrov, sought a retraction and public apology from the Philippine Athletics Track and Field Association (Patafa) after the federation stated that Obiena falsified liquidation documents on his coach’s salaries and that he be made to answer the accusation.

Obiena, 25, competed in the Tokyo Olympics and holds the Asian record in the sport. He is now ranked No. 5 in the world.

“Needless to say, we, Filipinos, will be deprived of two gold medals in the Vietnam Southeast Asian Games in 2022 and in Cambodia 2023, not to mention another one in the Asian Games also next year and most importantly, a representation in the Paris Olympics come 2024, due to the fiasco in the leadership of his organization,” Tolentino stressed.

“We could have easily propagated this achievement to the youth by proper guidance and genuine attitude,” he said.

The Obiena-Patafa mess didn’t escape the Senate’s attention and late Monday evening, senators recalled the 2023 budget of the Philippine Sports Commission (PSC) after expressing dismay over the agency’s apparent hands-off stance from the controversial rift.

“Since the PSC is the source of funds, it could have easily—under its mandate—intervened and corrected the same from the very beginning,” Tolentino said. Tolentino added: “But we in the POC will be steadfast and for the sake of Olympism and impartiality, will go into the details and investigate the matter.”

The POC’s Ethics Committee will investigate the controvery.

The sports body’s statement was read in the Senate on Tuesday by Senator Francis “Tol” Tolentino.

The Patafa, meanwhile, created an independent administrative committee whose sole purpose is to investigate and to come up with a report covering the matters stated under its memorandum to explain that was sent via courier and e-mail to Obiena last November 15.

A Patafa inquiry showed Petrov didn’t receive his salaries when the association received an authenticated affidavit from Sergey Bubka and a written statement from Petrov stating that he “did not receive any monthly coach’s fees for the years 2018, 2019, 2020 and 2021.

A Patafa statement said its administrative committee is presently conducting a thorough and in-depth investigation covering the issue and will release as soon as practicable its findings and recommendations.

Young CPS gals notch first victory

BusinessMirror

B8

| Wednesday, November 24, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

EJ: I’M NOT WANTED

BY MY FEDERATION

By Josef Ramos

A

STATEMENT from the Philippine Athletics Track and Field Association (Patafa) that shifted its accusation from a non-payment to a late payment by Ernest John “EJ” Obiena of his Ukranian coach’s salaries only added salt to a gaping wound that’s pushing the Olympic vaulter to retirement.

Obiena released a strongly-worded statement from his base in Italy on Tuesday that again slammed the Patafa’s easing of its embezzlement accusation on the Asian men’s pole vault record holder to delays in paying Vitaly Petrov his salaries.

“That’s a long way from embezzlement and theft that they accused me of. I am not a lawyer but as far as I know, paying late isn’t a crime,” the 25-year-old Obiena said. “I am alone in Italy, I train nine hours daily, and I have no help.”

“No other athlete here in the Olympic Training Center carries my

TOLENTINO

burden of administration. I have repeatedly asked Patafa to pay my coaches directly and stop requiring me to disperse all funds,” he said.

“I am not an accountant. This is not a crime,” he stressed.

The Patafa stated in a statement on Monday that it “is bent on asking Obiena if he had paid Petrov on time, as he had claimed in various liquidation reports he submitted to the association.”

The statement also said that “instead of facing the committee, however, Obiena organized a virtual press conference to press ‘the full and public withdrawal of the investigation and a full public apology from the authorities involved’ in the probe.” Obiena strongly

Governors Cup to open next month

W

resented that statement.

“I am willing to ‘make peace’ on this case but I must have my good name cleared. I do not hold out much hope,” he said. “It is clear that I am not wanted by my federation in any shape or form. I am attacked without any due process and now narrative and accusations have somehow changed.”

He added: “I am destroyed mentally and reputationally. And the attacks keep coming. Clearly I am not wanted.”

Obiena said he was accused by Patafa of forging the liquidation documents of Petrov’s salaries for the period May 2018 to August 2021. But his coach said otherwise and helped clear the pole vaulter’s name and

appeared with him in an online press conference on Sunday night.

There, Petrov confirmed Obiena paid him his salaries worth €85,000 (P4.8 million) albeit late.

Obiena, now ranked No. 5 in the world, said he has since asked Patafa to pay his coaches—Petrov, osteopath, physiotherapist and psychologist—but to no avail.

“Why doesn’t Patafa do [their] job and pay the coaches directly, allowing me to focus on training rather than accounting?” he said. “They put all the burden on me to perform all administration which I truly believe is not my job…I never wanted to be a middleman.”

Obiena also clearly hinted on taking a legal route to clear his name.

“I will complete the PWC [PricewaterhouseCoopers] Audit and I will finalize my legal recourse avenue,” he said. “Just say the word and I will formally retire from Philippine Athletics and being any part of Patafa.”

“Clearly, they or he don’t want me in the program based on their actions now and before,” he concluded.

“Sunday is not possible and even our import [Walker] is still not here,” Rain or Shine team owner Raymond Yu said. “I think the opening will be in early December.”

Blackwater’s Dioceldo Sy agreed: “It’s going to be in December.”

PBA Commissioner Willie Marcial hinted at a December opening because the league has yet to get the approval from Pasay City, Pasig City, Quezon City, San Juan and Antipolo City for the potential use of venues in their areas.

TNT, meanwhile, seeks a fitting follow up to its champion-

ship run as the 3x3 Lakas Ng Tatlo second leg gets underway on Wednesday at the Ynares Sports Arena in Pasig City.

Almond Vosotros, Jeremiah Gray, Samboy De Leon and Lervin Flores will take on Mac Cardona and the Zamboanga Valientes in the first game set at 2 p.m.

The Super Sealers and Braves clash at 2:25 p.m.

The Bolts kick off action in Pool B against Limitless Appmasters at 2:50 p.m., followed by the duel between Pool C teams Purefoods TJ Titans against Pioneer Pro Tibay. Josef Ramos

OBIENA

ITH three imports still unaccounted for, the Philippine Basketball Association (PBA) is bound to open the Governors’ Cup next month at a still undetermined venue.

“It’s no longer doable because imports are not complete and we need more time,” PBA Chairman and TNT Tropang Giga’s governor Ricky Vargas told BusinessMirror on Tuesday. “The quarantine time and practice of imports with their teams are very important.”

Barangay Ginebra San

Miguel’s Justin Brownlee is expected on Thursday and Rain or Shine’s Henry Walker is due later this week. Meralco’s Tony Bishop, a Panamanian, has yet to secure his visa.

Already in town are NorthPort’s Cameron Forte, Magnolia’s Mike Harris, San Miguel Beer’s Brandon Brown, NLEX’s KJ McDaniels, Terrafirma’s Antonio Hester, TNT Tropang Giga’s McKenzie Moore, Phoenix’s Paul Harris, Blackwater’s Jaylen Bond and Alaska’s Olu Ashaolu.

A

Manila defeats San Juan, tops FilBasket meet

ICC Manila beat San Juan, 72-68, to rule the inaugural FilBasket Subic Championship on Monday night at the Subic gym.

The Manila dribblers drew strength from Michael Mabulac, Chris Bitoon and Hesed Gabo to seal the crown in the deciding Game 3 of their best-of-three finals affair.

Mabulac fired 18 points, hauled eight rebounds and got three steals, while Bitoon chipped in 13 points and six boards for Manila, who followed up its 74-70 Game 2 victory Sunday after losing Game 1

HARMIE CONSTANTINO targets a second victory.

Mishandling Obiena

Saturday, 80-74.

Hesed Gabo also fueled Manila throughout the series by averaging 14.3 points, three rebounds and three assists per game to be hailed as Finals Most Valuable Player. In Game 3, he finished with 10 points, three rebounds and six assists.

Manila pulled away from an early 9-all deadlock and dictated the pace throughout, leading by as many as 13 points, 54-41, off a Ronjay Buenafe triple in the last 52 seconds of the third period.

C

ALIFORNIA Precision Sports (CPS) beat Baguio City, 25-14, 23-25, 25-11, 25-12, to notch its first Philippine National Volleyball Federation Champions League victory—and with it earn a lot of pride—on Tuesday at the Aquamarine Recreational Center in Lipa City.

The Antipolo-based CPS girls— whose ages range from 14 to 19—allowed the Lady Highlanders to clinch a set for the first time in the tournament, but they regrouped in time to sail through the victory.

“We could have done better,” said skipper Kizzie Madriaga after her teammates allowed Baguio City to steal a set before playing their usual game and snatch their first win in four outings.

The Lady Highlanders fell to 0-4.

Caisey Dongallo finished with 25 points—almost all on attacks—and had seven digs for CPS. Jelai Gajero added 16 points and eight digs and setter Madriaga made 19 excellent sets for the winners.

Handled by multi-titled high school coach Jerry Yee in a bubble training for a month, CPS, which multi-titled high school coach Jerry Yee molded into one potentially fierce machine, was finally rewarded after three matches.

“Coach Yee prepared for us very well,” Gajero said.

Those losses against professional clubs toughened CPS and Yee was the glue that kept the young crew together in the tournament that has Rebisco, Pitmaster Foundation Inc., Top Speed, 1Pacman Partylist, Philippine Sports Commission and Philippine Olympic Committee as platinum sponsors and F2 Logistics, Asics, PLDT, MVP Sports Foundation and Mikasa as gold sponsors and BCDA, Philippine Red Cross, Lipa City, Davis Paint and Emerald PVC Pipes, Fittings and Doors as silver sponsors with PNVF godfather, Taguig Rep. Alan Peter Cayetano, chairman of the Champions League, giving his full support.

“He is so calm coaching us,” said Madriaga, referring to Yee. A “grassroots” volleyball program consisting of players from Bicol, Bulacan, Cebu, Cagayan, Isabela, Nueva Vizcaya and Rizal, CPS lived up to the mantra “nothing to lose, everything to gain.” Josef Ramos CAISEY DONGALLO scores all but one of her 25 points on attacks for California Precision Sports.

MEMBERS of the AICC Manila team strike a championship pose.

Constantino, Baraquiel lead hunt as Riviera Ladies Challenge unfolds

H

ARMIE CONSTANTINO and Sunshine Baraquiel set out for a second victory in the Ladies Philippine Golf Tour’s (LPGT) third restart, Chanelle Avaricio and Daniella Uy go all out for the elusive win while a crew of amateurs try to sneak into the title chase in the International Container Terminal Services Inc. (ICTSI) Riviera Ladies Challenge unfolding on Wednesday at the Couples course in Silang, Cavite.

Constantino held off amateur Mafy Singson and won by one at Eagle Ridge-Aoki at Tour resumption three weeks ago, four months after she launched her pro career with a two-stroke victory over multi-titled Princess Superal, also at the same venue.

And while Avaricio and Uy, along with the rest of the bidders, are all fired-up to launch their respective drives in the 54-hole event, Singson and fellow amateurs Laurea Duque, Arnie Taguines, Anna Kei Fernandez and Eagle Ace Superal are all looking to upstage the big guns for a crack at top honors.

But nobody comes into the event with as much confidence and poise as Baraquiel, who endured exacting conditions at Highlands a couple of weeks back to snatch victory, finally putting herself in the conversation after finishing no higher than seventh in her first four tournaments as a full-pledged pro this year.

The 30-year-old lady pilot worked on her long game

during the break, which is key at the Couples, but maintains she doesn’t want to look ahead but expects to come out stronger this week.

“I worked on my driving during the break but I don’t have any expectations,” Baraquiel said.

But she reiterated her desire to get better and eventually get a crack at the world’s premier circuit.

“My goal is really to reach the LPGA [Ladies Professional Golf Association], so I’ll keep on working hard,” added the former Southwoods mainstay, who decided to go full-time on golf than make a career out of flying during the second respite due to the spike of coronavirus cases last March.

FIRST, EJ Obiena, the pole vault ace from Tondo, Manila, was called a thief. That he stole the salary of his Ukrainian (not Russian) coach, Vitaly Petrov.

That’s a charge as serious as it can be.

Next, Obiena was accused of not giving Petrov’s salary on time. That Obiena must explain the delayed payment.

Which is which? Did he steal or did he delay the delivery of Petrov’s salary?

Stealing money is bad per se. It sort of destroys your reputation. Forever almost.

Not if it’s bread you pilfered that goes straight to the mouth of your hungry son. That’s still a crime, yes, but for the right reason. Forgivable in both the eyes of man and God. Sadly, the twin accusations against Obiena were hurled by his own federation, the Patafa (Philippine Athletics Track and Field Association) headed by Philip Ella Juico.

Why the mess had to be splattered for public viewing

has put Obiena in a bad light. As the accused, he’s on the defensive. He could now be a victim of trial by publicity?

To be honest, the Patafa could be at fault here.

It should have treated the case privately and resolved it minus the public glare.

I have a question: Since 2014, why did Patafa allow Obiena to give Petrov’s salary? Isn’t that weird?

Is it true Patafa has no contract with Petrov, who receives nearly P115,000 a month? Weirder.

Even as Obiena placed a mere 11th among 12 entries in the Tokyo 2020 Olympics last July, he has redeemed himself quick as he set a new Asian mark in a world-class event in Austria.

Only 26, he oozes with potential, especially now that he’s crashed into the world rankings. But with him now being thrust, tossed, ugly into the spotlight, the future looks bleak. No more 2024 Paris Olympics for him?

He has hinted on it.

“If they won’t issue a public apology to clear my name, I

might be forced to quit the sport I love,” Obiena has said.

It is hardest to find and develop a talent like Obiena.

Without a doubt, he has become an elite athlete.

But we seem to be mishandling him—if we haven’t mishandled him already?

Woe yet again to Philippine sports.

THAT’S IT Congrats to TNT Tropang Giga for winning the inaugural 3x3 tournament of the Philippine Basketball Association (PBA). That calls for a celebration anew as it came on the heels of TNT’s recent triumph in the PBA Philippine Cup. League commissioner Willie Marcial deserves a pat on the back, too, for vigorously pursuing the 3x3’s breakthrough blast-off, ominously coming at a time when the pandemic appears to be fast waning—thank God...Warmest greetings to my boss here, Sir Jun Lomibao! Happy birthday, Aro!...Also, happy birthday to Admiral Luisito “Louie” Fernandez (ret.). Here’s wishing for many more birthdays to come your way, fellas!