BusinessMirror October 13, 2021

IMF cuts growth forecast for PHL, Asean-5

By Bianca Cuaresma @BcuaresmaBM

T

HE International Monetary Fund (IMF) cut its growth forecast for the Philippines this year to below the government’s lower target.

In the latest issue of the World Economic Outlook (WEO), the IMF said it now forecasts the Philippines to grow by 3.2 percent for 2021—down from the 5.4-percent forecast of the countr y’s g ross domestic product (GDP) growth in July.

The latest IMF growth forecast is lower than the government’s 4- to 5-percent target growth range for the year. It is also lower than the forecasts of other multinational

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

monetary authorities.

In September this year, the Asian Development Bank (ADB) said its forecast for the Philippine economy is to grow by 4.5 percent for this year. In June, meanwhile, the World Bank said it sees the country growing by 4.7 percent.

For next year, the IMF projects the country to bounce back to a growth of 6.3 percent. For 2026, the IMF said the Philippines will likely sustain its growth at 6.5 percent.

Asean-5, too

The global monetary authority has also slashed its growth forecast for the Association of Southeast Asian Nations (Asean)-5 for the year, with one of the steepest revisions per region seen in the

October WEO. The IMF slashed the Asean-5’s growth forecast to 2.9 percent for this year from the 4.3-percent projection they made in July. The Asean-5 regional bloc is composed of the Philippines, Indonesia, Malaysia, Thailand and Vietnam.

For next year, the IMF sees the region growing by 5.8 percent, also down from the July projection of 6.3 percent.

The cuts in the Philippine and Asean growth forecast ref lect the IMF’s lowered forecast for the world economy. From 6 percent in the July forecast, it has slightly lowered the world output projection to 5.9 percent.

“The global recovery continues but the momentum has weakened,

hobbled by the pandemic. Fueled by the highly transmissible Delta variant, the recorded global Covid-19 death toll has risen to close to 5 million and health risks abound, holding back a full return to normalcy. Pandemic outbreaks in critical links of global supply chains have resulted in longerthan-expected supply disruptions, further feeding inflation in many countries. Overall, risks to economic prospects have increased, and policy trade-offs have become more complex,” the IMF said.

The IMF also flagged the dangerous divergence in economic prospects across countries as a “major concern” for the world.

See “IMF,” A2

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

Wednesday, October 13, 2021 Vol. 17 No. 5

LOCKDOWNS, SHIPPING WOES CURB PHL TRADE

n

P25.00 nationwide | 2 sections 22 pages | 7 days a week

MB OKS $4.66-B PUBLIC SECTOR LOANS IN Q3

T

HE Bangko Sentral ng Pilipinas (BSP) reported on Tuesday that it has approved more dollar-denominated loans by the public sector in the third quarter of the year, as the country borrows more to finance its programs.

In a statement, the BSP said the Monetary Board approved a total of $4.66-billion public sector foreign borrowings in the third quarter of 2021. This is 18.9 percent higher than the $3.92 billion approvals in the same period last year.

Broken down, the public sec tor foreig n bor row i ngs con si st of one bond i ssuance amounting to $3 billion, three project loans amounting to $855.94 million, and

Militant groups show placards denouncing the recent oil price hikes at a gasoline station in Quezon City, on Tuesday (October 12, 2021). A consumer group has asked the government to suspend excise tax on petroleum products as part of a slew of options to provide the public some relief. A lawmaker, meanwhile, called for suspending value-added tax on oil. Story on A2. NONOY LACZA

By Cai U. Ordinario

S

@caiordinario

HIPPING delays and local quarantines prevented the country’s external trade performance from doing better this year, according to economists and the National Economic and Development Authority (Neda).

See “Trade,” A2

two program loans amounting to $800 million.

According to the BSP, these borrowings are intended to fund the Republic of the Philippines’s general financing requirements at $3 billion, reform programs on youth employment and the financial sector at $800 million, and disaster resilience at $300 million.

The remaining borrowings will fund assistance to the agriculture sector at $280 million and emergency response at $275.94 million.

Under Section 20, Article VII of the 1987 Constitution of the Republic of the Philippines, prior approval of the BSP, through See “Loans,” A2

PHL online shoppers rely on ratings, reviews

F

ILIPINO shoppers rely on product ratings and recommendations of their friends when buying goods via socialmedia platforms, according to a Taiwan-based Artificial Intelligence-driven solutions provider.

Based on iK ala’s Social Commerce Report 2021, the majority or 86 percent of Filipinos rely on ratings and reviews and 56 percent rely on opinions from friends and family.

The data also showed 44 percent rely on official information on the company web site while 35 percent rely on inf luencers; and 33 percent, on customer s u p p or t . O n l y 5 p e rc e nt of Filipinos do not gather information prior to purchasing on social media. “ Va lue -for-money is a top priority for consumers in Southeast Asia, which is why they’re much more intentional about

their purchases and tend to seek the best deals for a planned purchase,” the report stated.

Compa red to ot her A sea n countries included in the study, the Philippines is the most reliant on ratings and reviews and opinions of friends and family.

Meanwhile, the goods that Filipinos buy on social media are composed mostly of clothes, apparel and accessories at 79 percent. T his is fol lowed by

household goods and homeware, as well as health and beauty products bought by 56 percent of consumers.

Over 51 percent of consumers buy electronics and appliances on social media while 41 percent purchase food and beverage and 26 percent buy groceries. Only 16 percent of Filipinos bought furniture.

See “Shoppers,” A2

PESO exchange rates n US 50.6650 n japan 0.4471 n UK 68.9095 n HK 6.5130 n CHINA 7.8535 n singapore 37.3911 n australia 37.2286 n EU 58.5535 n SAUDI arabia 13.5096 Source: BSP (12 October 2021)

A2

BusinessMirror

Wednesday, October 13, 2021

IMF. . .

Continued from A1

“ These economic divergences are a consequence of large disparities in vaccine access and in policy support. While almost 60 percent of the population in advanced economies are fully vaccinated and some are now receiving booster shots, about 96 percent of the population in low-income countries remain unvaccinated,” the IMF said.

“Emerging and developing economies, faced with tighter financing conditions and a greater risk of deanchoring inf lation expectations, are withdrawing policy support more quickly despite larger shortfalls in output,” it added.

Loans. . .

Continued from A1

the Monetary Board, is required for all foreign loans to be contracted or guaranteed by the Republic of the Philippines.

Similarly, Letter of Instructions No. 158 dated January 21, 1974, also requires all foreign borrowing proposals by the national government, government agencies and government financial institutions to be submitted for approval-in-principle by the Monetary Board before commencement of actual negotiations.

The outstanding debt of the national government has hit another record high of P11.64 trillion as of end-August this year.

From only P9.62 trillion as of August 2020, the outstanding debt has already gone up by 21.1 percent.

Bianca Cuaresma

Imee pushes suspending VAT on fuel amid serial price hikes

By Butch Fernandez

C

@butchfBM

ITING the need to avert skyrocketing fuel prices, Sen. Imee Marcos asked Congress to front-load passage of remedial legislation suspending the value-added tax (VAT) on fuel products. The lawmaker lamented the urgently needed consumer relief measure is languishing in the legislative mill.

“I have already filed a bill suspending VAT on petroleum products,” Marcos noted, adding partly in Filipino, “ but it’s still pending in the Senate. Languishing in the calendar of business.”

As an alternative, the senator said the suspension of VAT to tamp down rising oil prices can still be enforced, since President Duterte has declared “that we are still in national health emergency crisis until September 2022.”

For the seventh straight week, the

senator noted, oil firms are raising gasoline prices, “this time by P1.30 per liter, diesel prices by P1.50 and kerosene prices by P1.45 per liter.”

This, amid mounting consumers’ clamor that government should do something to address it, including a snowballing suggestion to suspend the excise tax on gasoline.

Asked about the clamor of some transport groups calling for a P3 fare hike in the wake of the series of oil price hikes, Marcos said this can only be averted if there is no oil price hike.

“All of that has a domino effect each time petroleum prices move,” the senator pointed out, lamenting that “ordinary people are always at the losing end.”

On Monday, the consumer group Laban Konsyumer asked the government to suspend the excise tax on petroleum products to provide relief to many sectors amid the pandemic, as oil companies announced another round of price hikes effective midnight Tuesday.

National Economic and Development Authority (Neda) chief Karl Chua, however, said suspending the excise tax is not yet necessary at this point, and that the pressures caused by rising oil prices have already been factored into the inflation projections.

Laban Konsyumer President Victorio Mario A. Dimagiba said such suspension of the excise tax is in line with Presidential Proclamation 1218, which allows the national government to monitor and control prices of necessities and prime commodities. “[I] am invoking Presidential Proclamation 1218 and the President can by executive order suspend the excise taxes on fuel products for a limited period, every two weeks interval, and this will be a big help to all consumers across all sectors,” he told the BusinessMirror.

The excise tax regime is based on the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) previously, which mandates increasing rates from 2018 to 2020.

However, the TRAIN law allows for suspending the scheduled increase when the average Dubai crude oil based on Mean of Platts Singapore reaches at least $80 per barrel.

Shoppers. . .

Continued from A1

“A big reason for this is on-againof f -aga i n loc kdow ns i n t he reg ion, which prompted people to go online for their essentials—but it’s a trend that’s here to stay,” the study stated. iKala said in a statement that while ecommerce remained the preferred channel for shoppers in Southeast Asia, social commerce is becoming popular.

Regional data showed that as many as 42 percent of total shoppers said they use social media to make purchases 1-2 times per month and 35 percent use it to shop more than 3 times a month.

Social commerce’s success goes beyond frequency, too, with revenue per order up 88 percent during the period. This means consumers aren’t just shopping more, they’re also spending more on each order.

“Southeast Asia already has some of the most avid social-media users in the world, and spurred by the pandemic, they’ve taken to social platforms for their shopping needs at an exhilarating pace. Even as brick-andmortar reopens, it’s become clear that social commerce is not a phase—the ease, convenience and accessibility of this format has earned it a permanent place in the way this region shops,” said Sega Cheng, co-founder and CEO, iKala.

The report is based on a survey of 1,600 social shoppers and more than 23,600 business customers (social sellers) across Thailand, Malaysia, Philippines and Singapore, conducted in Q1 and Q2 2021. iKala said since the pandemic, the company has witnessed 500-percent growth in usage of its AI commerce solutions in Southeast Asia, and now supports over 172,000 businesses across the region. Cai U. Ordinario

www.businessmirror.com.ph

Trade. . .

Continued from A1

The double-digit growth posted by both exports and imports in August 2021 may have just been a “dead cat bounce” considering that trade performance last year contracted deeply.

Exports grew 17.6 percent in August 2021 from a contraction of 12.7 percent in August 2020 while imports grew 30.8 percent from a contraction of 17.5 percent last year. (See: https://businessmirror.com. ph/2021/10/12/phl-exports-and-imports-postdouble-digit-growth-in-august-psa/) “[The cause is] probably a multiple of reasons,” Socioeconomic Planning Secretary Karl Kendrick T. Chua told the BusinessMirror. “[This includes] both domestic—our higher quarantine—and international logistics issues.”

Unionbank Chief Economist Ruben Carlo O. Asuncion agreed with Chua and said in August, the country again imposed a strict lockdown to prevent the spread of the Delta variant.

The emergence of the more transmissible variant of Covid-19 has also affected global trade as many economies became more conscious of the threat of the virus, Asuncion told the BusinessMirror.

Shipping delays

Ateneo Center for Research and Development (ACERD) Associate Director Ser Percival K. Peña-Reyes agreed and said the trade performance could have been better if not for shipping delays.

Peña-Reyes said on Tuesday that shipping delays have made it difficult to move goods around. This has also increased the cost of shipping fees that ultimately increase production costs. “[On whether a triple-digit growth may have been possible this year without shipping delays] that, I cannot say for sure, but it wouldn’t be in as bad a shape as what we see right now,” Peña-Reyes said.

Asuncion said with more economies recovering next year, greater pressure will possibly be exerted on global supply.

However, Chua said he only hoped the recovery of more economies will not worsen the shipping delays next year.

As for Peña-Reyes, he said, the fate of the country’s trade performance will largely depend on how the government and the private sector will manage the crisis.

“I think the pressures on the supply chain as more economies recover will rise and may cause further delays. I just hope the global supply can cope and dodge unnecessary pressures,” Asuncion said.

“I think in terms of policy it [government] would provide for better infrastructure and facilitate the development of relevant infrastructure for local supply chains to flow flawlessly and minimize governmental friction that drag the smooth flow of the factors of production,” he also said.

In order to prevent shipping delays, the private sector must be proactive and economize their trips to ensure they have sufficient inventory next year, PeñaReyes said.

In terms of the government, Peña-Reyes said it is important that it “reduce red tape, do away with unnecessary hurdles.”

This includes fully implementing the National Single Window to facilitate clearances needed for import shipments.

“We need proactive thinking in anticipation of delays.

Stockpile in anticipation of greater economic activity— hopefully—during the last quarter of the year and months leading up to elections,” he added.

An Asian Development Bank (ADB) brief, released on Tuesday, stated that trade financing can help facilitate global trade. Based on a survey it conducted, the global trade finance gap increased to $1.7 trillion during the Covid-19 pandemic in 2020 from $1.5 trillion in 2018.

ADB said more than half of the surveyed firms identified that greater access to finance and public sector support are keys to the path to post-pandemic recovery.

Given this, ADB said strengthening Public-Private Partnerships are needed to boost trade financing. It noted that the government alone could not provide the needed support.

For his part, Chua said if needed, the government stands ready to “design a suitable program.” This, he said, can be done in consultation with the Bangko Sentral ng Pilipinas and the Department of Finance, among others.

However, Chua stressed that the “government is not a financier. That is the financial system’s role.”

Markets

Based on the data from the Philippine Statistics Authority (PSA), the country’s top export and import market in August was the People’s Republic of China.

Exports to China amounted to $1.05 billion or a share of 16.2 percent to the total exports in August 2021, while imports from Beijing were valued at $2.36 billion or 23.5 percent of the total imports during the period.

Other top export markets of the country were the United States of America (USA) amounting to $1.02 billion or 15.8 percent of the total; and Japan, $940.46 million, 14.5 percent of the total.

PSA said the list of top export markets included Hong Kong with shipments amounting to $930.83 million or 14.4 percent of the total; and Singapore with $392.12 million or 6.1 percent of the total.

Meanwhile, top import sources of the Philippines included Japan with shipments amounting to $920.67 million or 9.2 percent of the total followed by the Republic of Korea with $796.89 million or 7.9 percent of the total.

The data also showed the country imported from Thailand $651.92 million worth of goods, accounting for 6.5 percent of the total; and the US with $645.57 million or 6.4 percent of imports in August 2021.

The Nation BusinessMirror

www.businessmirror.com.ph

Lawmaker calls for ban on election substitution

By Jovee Marie N. Dela Cruz @joveemarie

T

O “put an end to the manipulation and mockery of the election process,” a leader of the House of Representatives on Tuesday proposed measures banning “substitution” of candidates and requiring incumbent officials to resign upon the filing of their certificates of candidacy (COCs) for other position.

Deputy Speaker Rufus Rodriguez of Cagayan de Oro City said he would file these two bills immediately.

Under the present election law, the Commission on Elections (Comelec) has to wait until the November 15 substitution deadline before finalizing the list of candidates even if the COC filing period has ended last October 8.

“One reform I am proposing is an almost absolute ban on substitution of candidates by political parties.

Another is the restoration of the old rule requiring incumbent officials to resign or to be deemed automatically resigned upon the filing of their certificates of candidacy for other positions,” he said.

Sincetheintroductionofthepractice thatallowscandidateswitching,Rodriguez said, many people did not believe that some aspirants were serious and qualified enough for the higher positions for which they filed their COCs. “It is lamentable that for the May 2022 elections, certain candidates for the presidency are perceived to be proxies for some personalities, even if they can be considered as serious aspirants,” he added. The lawmaker said he is proposing that substitution be prohibited unless the candidatenominee of a political party dies or is disqualified before election day.

According to Rodriguez, this will give the Comelec more time to screen COC filers, prepare the final list of candidates and print the official ballots and related paraphernalia.

“If we maintain the present October 8 COC filing deadline, the commission will have an additional time of more than one month to prepare for the elections. Alternatively, we can

move the timelines closer to election day like setting November 15 as the close of the COC filing period,” he said.

Rodriguez said the candidate substitution ban and the requirement for candidates who are incumbent officials to resign are reforms that would complement each other.

“A candidate would not agree to be a proxy for a dawdling, wavering or indecisive aspirant if he would have to give up his office. The resignation requirement would apply to all levels, national or local, whether aiming for higher or lower positions,” he said.

The lawmaker added the resignation requirement would level the playing field among elective and appointive officials like Cabinet members who are candidates.

“It would prevent them from using their offices, public funds and their influence to promote their candidacies,” Rodriguez said.

He said that his proposed reforms would force aspirants to take running for higher office seriously and to stop manipulating and mocking the electoral process. “These would also make more people believe in the integrity of our elections,” he added.

Negotiate

MEANWHILE, Lakas-CMD official and Rep. Prospero Pichay admitted that while they have members who filed candidacies for president and vice president, the party “can still negotiate with other presidential candidates.”

“We have a presidential candidate but we can still negotiate with other presidential candidates. In effect I am saying we put up a candidate but if there are other candidates whose ratings are high then we can consider them,” Pichay said in a TV interview.

“But you know this business of substitution is actually is creating a game of chess among all the parties because like for example PDP-Laban fielded Senator Bato [Dela Rosa] as presidential candidate but we all know that Sen. Bato is not really serious about running for President, but again after November 15 that’s the time we will be able to assess,” he added.

‘Maring’ leaves at least nine dead; DA places initial crop damage at P29.4M

A

By Rene Acosta @reneacostaBM & Jasper Emmanuel Y. Arcalas @jearcalas

T least nine people were reported killed while 11 others are missing as Severe Tropical Storm (STS) Maring pummeled the northern part of the country, triggering flooding and landslides.

Defense Undersecretary and National Disaster Risk Reduction and Management Council (NDRRMC) Executive Director Ricardo Jalad said that most of the casualties perished from landslides in Itogon and La Trinidad in Benguet and a flash flood in Narra, Palawan.

The Department of Agriculture reported that Maring damaged 1,713 metric tons (MT) of produce worth P29.4 million in the Cordillera Administrative Region (CAR).

Based on its initial assessment, the DA said, about 1,128 farmers tilling 1,225 hectares of agricultural areas were affected by the damage caused by the weather disturbance to the sector.

In a briefing with regional heads of disaster offices in the affected regions, Jalad, however, said the casualty figure is still subject for official validation.

Strong and incessant rains generated by Maring triggered flooding and landslides in towns and cities in Ilocos Sur, La Union, Ilocos Norte, Cagayan, Isabela and in Baguio and Benguet.

The flooding was so severe and high in some parts of Ilocos Sur and Cagayan that residents were forced to occupy rooftops of their houses while pleading for rescue.

Ombudsman clears ex-Tourism chief Teo, PTV 4, Ben Tulfo in ₧120-M ad contract

T

HE Office of the Ombudsman has recently dismissed for lack of probable cause the graft complaint against former Department of Tourism (DOT) Secretary Wanda Tulfo-Teo, Ben Tulfo, and four others in connection with P120million advertising contract in 2017.

In a resolution dated September 30 drafted by Graft Investigation and Prosecution Officer Rosano Oliva, the Ombudsman also junked the complaint against DOT Executive Assistant Arlene Mancao, People’s Television Network (PTV) Inc. General Manager Dino Antonio Apolonio, PTV airtime management group head Ramon Del Rosario and Presidential Communications Operations Office administrative officer Ma. Alma Francisco over the said television advertisements.

Ombudsman Samuel Martires approved the resolution last October 7.

Based on evidence, the resolution said, Bitag Media through the program Kilos Pronto complied with its contractual obligations

even exceeding the airtime as agreed upon, saying “in short, the government got its monies’ worth.”

Based on reports, Kilos Pronto was created and developed by Bitag Media Unlimited Inc. produced by Ben Tulfo, brother of the former DOT secretary.

In its 2017 annual audit report, the Commission on Audit (COA) noted that the memorandum of agreement between DOT and PTV calls for the implementation of an P89,878,000 or 75 percent of the computed contract cost ads will be paid to the program Kilos Pronto.

Teo already denied that there was conflict of interest, saying DOT dealt with PTV and not her brother’s Bitag Media Unlimited Inc. “As ruled by the Supreme Court, unlike in action for torts, undue injury cannot be presumed even after a wrong or a violation of a right has been established, its existence must be proven as one of the elements of the crime and that undue injury be specified,

Editor: Vittorio V. Vitug • Wednesday, October 13, 2021 A3

quantified and proven to a point of moral certainty,” the Ombudsman resolution read.

“It is undeniable that while COA issued to DOT Audit Observation Memorandum [AOM] 18-018 dated 10 May 2018 relative to the MOA between DOT and PTV showing a possible conflict of interest among others, there is no evidence on record however that the same had ripened to a Notice of Suspension [NS] or a Notice of Disallowance [ND] as the case maybe,” it added.

It said even “granting for the sake of argument that a NS or ND had in fact been issued, there is nothing on record showing that it had gained finality as there are other legal remedies under the COA Rules of Procedure which are available to the respondents.”

“In the absence of proof that the findings of COA in its AOM have gained finality, the filing of the instant case borders on prematurity amounting to lack of cause of action,” it said. Jovee Marie N. Dela Cruz

“So far, LGU DRRMCs [local government unit Disaster Risk and Reduction Councils] are on the scene to respond, but Regional DRRMCs [RDRRMC] 1, 2 and CAR have already mobilized our standby units to provide augmentation support to the affected localities,” NDRRMC spokesman Mike Timbal said.

“We have received messages in socmed [social media] asking for rescue assistance, in particular LU [La Union] and Ilocos Sur communities. These have been referred to RDRRMC 1 for action,” he added.

Based on the update provided

by Jalad, landslides buried at least three houses in Benguet and Baguio City where a total of at least six people are currently the subjects of rescue operations.

Baguio City Mayor Benjamin Magalong said a landslide at around 7:30 p.m. hit the house at Barangay Dominican Mirador on Monday, burying four people and injuring another. A body had been retrieved as of Tuesday morning.

Magalong said at least nine other incidents of landslides were reported in the city.

In Palawan, Jalad said a flash flood swept Barangay Batang-batang in the municipality of Narra wherein

four people died, which the Mimaropa police also confirmed.

Five people were also missing as a result of the flash flood.

Meanwhile, the Philippine Coast Guard said its personnel have rescued families from the flooding in Sta. Teresita, Cagayan and Brooke’s Point, Palawan, and were helping in rescue operations in other areas in Northern Luzon.

Most affected commodities

“AFFECTED commodities include corn and high-value crops. These values are subject to validation,” DA continued in its report released on Tuesday afternoon.

“Additional damage and losses are expected in flooded areas due to Maring and enhanced southwest monsoon,” DA added.

DA data showed that corn production suffered the brunt of the storm damage as it reported production loss of about 1,653 MT worth P28.1 million. About 1,135 hectares of corn farms were affected by Maring, according to DA. The remaining recorded damage of P1.29 million was in the highvalue crops sector wherein about 90 hectares were affected with a volume loss of 60 MT, the DA added.

“Based on the combined data of Regions CAR, 1, 2, 3, 4A, 4B, 6, and 9, the area of standing crops that may be affected by STS Maring totals to 1,469,985 hectares [77.98 percent of the national standing crops] for rice and 298,523 hectares [57.98 percent of the national standing crops] for corn,” the DA said.

The DA said it has about P268 million worth of quick response funds that it can use in rehabilitating the affected areas. The DA added that it would provide rice, corn and assorted vegetable seeds to farmers in the affected regions.

Relief ops

MEANWHILE, supporters of Manila Mayor Isko Moreno in Northern Luzon have mobilized their volunteer organizations to extend help to their provincemates affected by Typhoon Maring.

The ISKO Northern Alliance (INA), a member of the National Alliance for Isko (NAISKO) and Ikaw Muna Pilipinas (IMP), initiated relief operations in several areas in the calamity-hit Ilocos region, Cagayan Valley and CAR. Leaders of the volunteer groups have coordinated with the office of Mayor Isko on the provision of goods and other needed assistance in the typhoon affected areas.

Other organizations supporting Mayor Isko from the National Capital Region and other parts of Luzon, Visayas and Mindanao, have responded to the call for help and support for their Ilocano brothers and sisters.

PRC Palawan extends aid to Maring victims

THE Philippine Red Cross (PRC) has provided urgent assistance to Typhoon Maring victims in various parts of the country on Monday.

In Palawan, the PRC deployed its staff and volunteers to distribute face masks and serve hot meals to 75 individuals at the evacuation center in Baragay Malinao, Narra.

An estimated 300 families were affected in various municipalities in the southern part of Palawan. The PRC Palawan Chapter will continue to provide humanitarian intervention in the different affected areas.

“All PRC assets and personnel are on standby and will be deployed if necessary to alleviate the suffering of our kababayans before, during, and after the storm. That’s how PRC works,” PRC Chairman and CEO Richard Gordon said.

With Claudeth Mocon-Ciriaco

Concepcion welcomes fresh batch of Astra vaccine for inoculation of private workers

G

O Negosyo founder Joey Concepcion, National Task Force Covid-19 chief implementer Carlito Galvez Jr., Health Secretary Francisco Duque III, and Metropolitan Manila Development Authority Chairman Benhur Abalos receive the fourth batch of AstraZeneca vaccine delivery on October 8, 2021, comprising over 600,000 vaccine shots in total.

“We welcome the arrival of the latest batch of AstraZeneca vaccine purchased under the Go Negosyo’s ‘A Dose of Hope’ program. A significant portion of the vaccines will be allocated to LGUs [local government units] for the inoculation of our workers and citizens.

This is part of the private sector’s commitment and contribution to the national government’s fight against Covid-19. Having all of our workers vaccinated against Covid-19 will also contribute to the safe reopening of our economy that we are all hoping for in the last quarter of the year,” Concep-

cion stressed.

Since July 2021, 1.3 million private sector workers have been vaccinated through Go Negosyo’s A Dose of Hope program. Partner companies have ensured their employees’ protection as we push for

more mobility for the fully vaccinated. Additionally, over 10,000 employees and dependents from almost 200 micro, small and medium enterprises have been vaccinated too via the Go Negosyo led shared vaccination sites.

‘Something doesn’t add up:’ Lacson laments SAP fund discrepancy

By Butch Fernandez

S

@butchfBM

EN. Panfilo Lacson lamented the “discrepancy” that marred the Duterte administration’s Social Amelioration Program (SAP), wondering how the Department of Social Welfare and Development (DSWD) can claim a 94 percent physical accomplishment of its SAP fund distribution when “only 80 percent of the funds

were disbursed” to its intended beneficiaries.

Lacson raised the issue during Monday’s plenary deliberation on the DSWD’s proposed P191.4billion budget for 2022, pointing out “something doesn’t add up.”

The senator cited DSWD’s latest data submitted to the Senate which showed the agency was able to distribute SAP to 717,372 out of 761,259 target beneficiary families,

acknowledging this would constitute a 94.23-percent accomplishment as of August 31, 2021.

But Lacson also noted that according to the same report, DSWD has disbursed “just about 80 percent of the funds” for the SAP beneficiaries.

He recalled DSWD’s Hannah Carcido explaining that the DSWD adjusted its targets, adding that the potential target as of January 2021 was 855,597 beneficiaries instead

of 717,372.

Lacson, likew ise, prodded DSWD officials to learn from its “poor planning” that prompted them to engage Starpay after they found 70 percent of SAP beneficiaries either have defective or no mobile phones at all.

“The DSWD became reactive,” the senator observed, noting “it did not determine the beneficiaries’ capability to use mobile phones be-

fore distributing the aid so it had to engage financial service providers. It should have planned first and determined the capability of the beneficiaries to receive aid via mobile phones. The bottom line is poor planning.”

Moreover, he recalled that local government units, on the other hand, ran into problems distributing the SAP after complaints were lodged against them for not distributing

the SAP based on the DSWD’s data, which turned out to be outdated, dating back to 2015.

Lacson noted “some barangay chairmen agreed among themselves to just redistribute the P5,000 to P8,000 accordingly because the list provided by the DSWD central office was outdated,” adding “they wanted to adapt to the situation on the ground. We cannot fault the local government units.”

A4 Wednesday, October 13, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Further reopening of businesses, economy pressed

By Tyrone Jasper C. Piad

P

@TyronePiad

RESIDENTIAL Adviser for Entrepreneurship Jose Maria A. Concepcion said the economy should reopen now so businesses can take advantage of the Christmas spending after imposing a hard lockdown in August.

At a Laging Handa briefing on Tuesday,

Concepcion said that the enhanced community quarantine in August has helped in bringing down the number of Covid-19 cases.

As such, easing of mobility restrictions is the way to go now to allow enterprises to recoup their losses, he said.

“For now, it’s only one quarter left till the end of the year. Bigay na natin to sa mga negosyante para mabuhay sila till next year

[Let us give this to the business owners so they can survive till next year],” he stressed.

Concepcion said that easing the alert level in Metro Manila, which has achieved an 80percent vaccination rate, can increase the operating capacities of the establishments.

Currently at Alert Level 4, the Go Negosyo founder said the 30 percent indoor capacity, including the additional 10 percent for those

with Safety Seal, is not enough for businesses to make ends meet.

“They have to open the economy and now is the time,” he said, noting the operational capacity should be increased up to 70 percent before the year ends.

“Sa 30 percent, halos wala kang kita dyan.

Sa 50 percent, you can earn some money pero di pa malaki ’yan. Pero at least, they will have enough to pay their obligations and hopefully carry them forward till 2022 [At 30 percent, you will barely earn. At 50 percent, you can earn some money but not, just enough to pay for your obligations and hopefully carry them forward till 2022],” he added.

Among the obligations businesses will be paying in the last quarter include the 13thmonth pay, bank loans and outstanding bills with suppliers, he said.

Recently, Concepcion welcomed the shortening of the quarantine period for international arriving passengers from 14 days to 5-7 days.

“I am thankful that the government listened to our repeated calls to relax the guidelines for the fully vaccinated. With the shorter quarantine, many will be encouraged to fly, engage in economic activities and most importantly reunite with families with lesser costs in mind,” Concepcion said.

PSA report shows drop in rice, corn inventory

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Philippines’s rice inventory at the start of September plunged by nearly 27 percent year-on-year to a three-year low of 1.332 million metric tons (MMT), according to latest government report.

This is now the fifth consecutive month that the country’s rice inventory declined, based on historical Philippine Statistics Authority (PSA) data.

PSA said the nationwide rice inventory on September 1 was 491,000 metric tons (MT) lower than the 1.823 MMT stocks recorded in the same period of last year.

“Comparably, rice stocks inventory reduced by 15.6 percent from previous month’s inventory level of [1.578 MMT],” the PSA said in its monthly rice and corn stocks inventory report published on Tuesday.

The PSA said almost half or about 47.9 percent of the country’s rice inventory levels were from households, while 40.8 percent were stored by commercial warehouses/ wholesalers/retailers. The remaining 11.3 percent were from National Food Authority (NFA) depositories.

PSA data showed rice stocks in households reached 638,160 MT, while those stored in the commercial sector and NFA reached 543,020 MT and 151,170 MT, respectively.

The PSA said the rice inventory in all sectors declined both on an annual and monthly basis.

“Compared with previous year’s record, rice stocks in households, commercial warehouses/wholesalers/retailers, and NFA depositories waned by 24.8 percent, 30.6 percent, 21.5 percent, respectively,” it said.

“The month’s rice stocks inventory in all sectors was lower than their respective levels in the previous month. Decreases were recorded at 15 percent in households, 16.3 percent in commercial warehouses/wholesalers/retailers and 15.5 percent in NFA depositories,” it added.

In the same report, PSA data showed that the country’s corn inventory declined by 29.7 percent to 560,610 MT from last year’s 797,370 MT. Historical PSA data showed that this is the lowest nationwide corn inventory in two and a half years.

“In this war, corn stocks inventory declined by 20.8 percent compared with the previous month’s level of 707,650 metric tons,” the PSA said.

The PSA said about 66.6 percent or 373,250 MT of corn were held by the commercial sector while the remaining volumes of 33.4 percent or 187,360 MT were in households.

“Year-on-year, both corn stocks inventory level in the households and commercial warehouses/wholesalers/retailers declined by 38.6 percent and 24.2 percent, respectively,” it said.

H1 dairy imports jump 8.59% to 1.469 MMT-LME in H1 ’21

T

HE country’s dairy imports in the first half grew by 8.59 percent to 1.469 million metric tons in liquid milk equivalent (MMT-LME) from 1.353 MMT-LME recorded in the same period of last year, latest government data showed.

Latest National Dairy Authority (NDA) data showed that the value of dairy imports grew by 8.92 percent to $562.43 million from $516.36 million recorded in the first half of last year.

NDA data also showed that the increase in imports was driven by higher purchase of butter and cheese products abroad as these products posted double-digit growth rates.

The country’s imports of butter, butter fat and dairy spreads rose by 18.34 percent to 150,320 MT-LME from last year’s 127,020 MTLME. The volume of imported cheese during the first half reached 87,340 MT-LME, 50.69 percent higher than the 57,960 MT-LME recorded in the same period of last year.

In terms of value, the country’s imports of butter, butter fat and dairy spreads grew by 9.75 percent on an annual basis to $83.33 million, while cheese imports expanded by 40 percent to $58.18 million, based on the NDA data.

NDA data also showed that the volume of milk and cream products imported by the Philippines in the January-to-June period grew by 5.69 percent to 1.210 MMT-LME from 1.145 MMT-LME recorded last year.

Value wise, imports of these milk products increased by 5.8 percent to $402.48 million from $380.43 million.

NDA data showed that the United States was the country’s top supplier of dairy products in the first half as it accounted for 31.66 percent of the total imported volume.

The country’s dairy imports from the United States reached 462,230 MT-LME, valued at $146.24 million, based on NDA data. The United States was followed by New Zealand with a total import volume of 366,480 MT-LME worth $190.75 million, NDA data showed.

Furthermore, the country’s dairy exports expanded by 20.02 percent to 14,610 MT from last year’s 12,170 MT on the back of higher shipments of milk and cream products. The value of the country’s dairy exports in the first half more than quintupled to $32.22 million from $5.68 million last year, based on NDA data. Jasper Emmanuel Y. Arcalas

Make New York safe again—DFA exec on Pinay nurse’s death continued from a10 And, Cato added, “like the thousands of Filipino nurses and other health-care workers across the United States, Luningning was there in the frontlines against Covid-19. A woman of courage and compassion, matapang at mapagmalasakit [brave and self-sacrificing], she did her part in saving lives the way she had been doing in the 25 years she took care of cancer patients in New Jersey,” Cato said.

At the Bayonne Medical Center, Cato said that Luningning was known as “a caring nurse and a wonderful person” who went out of her way to help others.

“She is remembered by colleagues on how

she mentored the younger nurses among them, with one even describing her as an ‘angel sent by God to guard and be with her during her long and difficult journey to a foreign land,’ and ‘who gave her the hope and courage to live and survive the harsh conditions of the concrete jungle of New York City,” Cato said.

The consul general noted there are many more testimonials and anecdotes that would “reveal just how much Luningning was loved and admired and how much she brightened people’s lives, ultimately, measuring up to her name—Luningning, which means sparkle or brilliance in Filipino.” Claudeth Mocon-Ciriaco

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

TheWorld

California coronavirus death count tops 70,000 as cases fall

S

ACRAMENTO, Calif.—California’s coronavirus death toll reached another once-unfathomable milestone—70,000 people—on Monday as the state emerges from the latest infection surge with the lowest rate of new cases among all states.

Last year at this time, cases in the state started ticking up and by January California was in the throes of the worst spike of the pandemic and was the nation’s epicenter for the virus. Daily deaths approached 700.

The latest surge started in summer and was driven by the Delta variant that primarily targeted the unvaccinated. At its worst during this spike, California’s average daily death count was in the low 100s.

Data collected by Johns Hopkins University showed the state with 70,132 deaths by midday Monday. It’s the most in the nation, surpassing Texas by about 3,000 and Florida by 13,000, although California’s per capita fatality rate of 177 per 100,000 people is well below the overall US rate of 214.

“There’s very little if anything ever to compare that to,” Dr. Mark Ghaly, California’s health secretary, said of the level of deaths.

“Take a moment of silence and reflection on what that’s meant for Californians,” he said. “Families that have lost more than one family member, key breadwinners, people who couldn’t protect themselves.”

The most populous state is in a much better situation as it enters the colder months this year. It has been a national leader in vaccinations while others who survived the virus acquired a natural immunity that also helps prevent severe illness and death.

Even if there is a new surge, “the level of life-altering behaviors may be different this time around than we saw last winter,” Ghaly told The Associated Press.

He does not expect California to lock down as it did last year with business closures, social distancing requirements and capacity restrictions.

“That is not what we’re talking about,” he said. “I think vaccines plus masks in certain (indoor) settings is going to be a significant support of us getting through anything that Covid throws at us in the future.”

A year ago, “there were all these debates, should we have Halloween vs. no Halloween,” said Dr. Monica Gandhi, an infectious disease expert at the University of California, San Francisco. “I think this winter is going to be a lot better than last winter, especially in California.”

More than 70 percent of Californians are now fully vaccinated and another 8 percent partially so, she noted. That compares to about one-third who had antibodies against the coronavirus in February, before the rollout of vaccines and as California was recovering from a surge that strained hospitals to the breaking point.

Marm Kilpatrick, an infectious disease expert at the University of California, Santa Cruz, projects that the current level of immunity is still too low to avert another surge, particularly because people are tired of safety precautions.

Still, “it will primarily be those people who have not been infected before and those who are not vaccinated that will suffer the highest consequences,” Kilpatrick said.

California was the first to impose a statewide stay-at-home order, in March 2020, and that aggressive action by Gov. Gavin Newsom was credited by many with sparing the state from the kind of surge that devastated New York City early in the pandemic.

But later Newsom faced criticism that he was too slow to remove restrictions on businesses and activities. He ultimately faced a recall election last month and voters overwhelmingly chose to keep him in office.

Even as cases fell, Newsom recently announced the nation’s first plan to require all eligible schoolchildren to be vaccinated. The state also requires masks in school.

But the state’s local governments have been imposing and lifting requirements on their own, creating a confusing patchwork of regulations.

In Los Angeles County, a vaccine requirement just took effect for customers at indoor bars, wineries and a small group of other businesses.

But in the city of Los Angeles, a far more aggressive vaccine mandate that applies to virtually all indoor businesses is set to take effect next month.

No counties around Los Angeles County have such mandates.

In Northern California, San Francisco and several nearby counties announced plans to begin easing masking requirements as conditions improve. On Friday, Newsom called that “an encouraging sign,” while also offering caution about moving too quickly.

“This time last year we were experiencing not dissimilar optimism, only to experience that winter surge,” he said.

California has the lowest per capita rate of new coronavirus cases in the country. It is one of only two states that the US Centers for Disease Control and Prevention rates as having a “substantial” rate of transmission, which is a step below the “high” rate that all other states have.

California recorded 67 cases per 100,000 people in the last week; the nation’s average is 195. And the state’s positivity rate in the last seven days was 2.5 percent while the country averaged 6.1 percent.

The rate at which each infected person spreads the disease, known as the R-effective, has been dropping steadily in California since mid-July and now is at 0.78 statewide. Anything below 1 means the number of infected persons will decrease.

Statewide, hospitalizations crested at nearly 22,200 and ICU admissions at almost 5,000 in January. There are now about 4,100 hospitalizations and 1,100 intensive care cases, down from 8,220 and 2,100, respectively, a month ago.

Gandhi thinks California is nearing levels where it could lift most precautions and accept living with a virus that won’t go away but one that isn’t likely to kill or seriously injure most vaccinated people. She said California seems unlikely to lift restrictions until children 5-11 are widely vaccinated and there are improvements in the rest of the nation.

Meantime, the upcoming flu season will present its own challenges as health care providers test patients to sort out common symptoms from the coronavirus.

Ghaly said the state has been preparing for a crush of testing. Dr. Lee Riley, chairman of the Division of Infectious Disease and Vaccinology at the University of California, Berkeley, School of Public Health, expects problems.

“We’re probably going to overwhelm the testing service,” Riley said.

Moreover, he said the flu can make even vaccinated people more susceptible to lung damage and other severe symptoms.

With that caution, Ghaly predicted that this winter the vaccinated, perhaps while masked, can “continue to move around the cabin, if you will, and enjoy some of the things that last year we didn’t get to enjoy.” AP

BusinessMirror

Wednesday, October 13, 2021

A5

Russia’s new Covid cases, deaths near all-time highs M

OSCOW—Russia’s daily coronav ir us infect ions and deaths hovered near all-time highs Monday amid sluggish vaccination rates and the Kremlin’s reluctance to toughen restrictions.

Russia’s state coronavirus task force reported 29,409 new confirmed cases—the highest number this year and just slightly lower than the pandemic record reached in December.

A f ter reg ister ing the highest d a i ly deat h tol l since t he st a r t of the pandemic at 968 over the weekend, Russia reported 957 new deaths on Monday.

Russia already has Europe’s highest death toll in the pandemic—more than 217,000, according to a government task force. The state statistics agency, which uses a different way of counting including when the virus wasn’t considered the main cause of death, has reported about 418,000 deaths of people with Covid-19.

A sharp rise in infections and deaths began last month with the government attributing it to a slow vaccination rate. Deputy Prime Minister Tatyana Golikova said Friday

that 47.8 million Russians, or almost 33 percent of its nearly 146 million people, had received at least one shot of a coronavirus vaccine, and 42.4 million, or about 29 percent, were fully vaccinated.

Kremlin spokesman Dmitry Peskov voiced concerns about the surge in infections and deaths and noted that hospitals in some regions are close to capacity.

“The vaccination level we have is too low, impermissibly low,” Peskov said in a conference call with reporters. “That is why we have mortality numbers that are so high. We are using every opportunity to make a simple call on all citizens—go ahead and get the shot.”

While deploring Russia’s lagging pace of vaccinations, Peskov rejected the idea of imposing fines on those who fail to get the vaccine and emphasized that it’s up to regional authorities to decide whether to tighten local coronavirus restrictions.

Russian President Vladimir Putin says he has been vaccinated with domestically-designed Sputnik V vaccine and he spent two weeks in

self-isolation last month after some of his close aides tested positive for Covid-19.

Putin later hailed the efficiency of Sputnik V, saying that he didn’t contract the virus even though he worked closely for an entire day with an aide who got infected.

Speaking Monday during a call with top officials, Putin had an occasional cough. When an obsequious speaker of the upper house of parliament enquired about his condition during a later video call, the 69-year-old Russian leader said he was feeling fine.

“Don’t worry, everything is fine,” Putin said. “I undergo tests practically on daily basis and not just for Covid-19 but other infections as well. It was simply cold outside and I moved a bit more energetically, there is nothing horrible.”

Some Russian regions have limited attendance at large public events and restricted access to theaters, restaurants and other places to people who have been vaccinated, recently recovered from Covid-19 or tested negative in the previous 72 hours.

However, life remains largely normal in Moscow, St. Petersburg and many other Russian cities, with businesses operating as usual and mask mandates loosely enforced. On Monday, authorities in Moscow announced the expansion of free coronavirus tests in shopping malls, saying it should help stem contagion.

Overall, Russia’s coronavirus task force has registered over 7.8 million confirmed cases and 217,372 deaths.

However, reports by Russia’s state statistical service Rosstat that tally coronavirus-linked deaths retroactively reveal significantly higher mortality numbers.

Rosstat on Friday said coronavirus mortality data showed more than 254,000 deaths of people with Covid-19 in the first eight months of this year compared to over 163,000 deaths of virus patients for all of 2020.

Unlike the coronavirus task force, which only counts deaths where Covid-19 was the main cause, Rosstat also tallies those who had Covid-19 but died of other causes, and those for whom the virus was suspected but not confirmed. AP

Moderna has no plans to share vaccine recipe

R

OME—Moderna has no plans to share the recipe for its Covid-19 vaccine because executives have concluded that scaling up the company’s own production is the best way to increase the global supply, the company’s chairman said Monday.

In an interview with The Associated Press, Noubar Afeyan also reiterated a pledge Moderna made a year ago not to enforce patent infringement on anyone else making a coronavirus vaccine during the pandemic.

“We didn’t have to do that,” Afeyan said. “We think that was the right, responsible thing to do.” He added: “We want that to be helping the world.”

The United Nations health agency has pressed Moderna to share its vaccine formula. Afeyan said the company analyzed whether it would be better to share the messenger RNA technology and determined that it could expand production and deliver billions of additional doses in 2022.

“Within the next six to nine months, the most reliable way to make highquality vaccines and in an efficient way is going to be if we make them,” Afeyan said. Asked about appeals from the World Health Organization and others, he contended that such pleas assumed “that we couldn’t get enough capacity, but in fact we know we can.”

Moderna “went from having zero production to having 1 billion doses in less than a year,” Afeyan said, referring to the Massachusetts-based company’s sprint to develop the vaccine and produce it in large quantities.

“And we think we will be able to go from 1 to 3 billion” in 2022.

“We think we are doing everything we can to help this pandemic,’’ Afeyan added, citing the company’s increasing output and its pledge on patent infringement.

He noted that $2.5 billion (about 2.1 billion euros) and 10 years were spent in developing the platform that makes Moderna’s Covid-19 vaccine.

“Others joined the hunt when Covid-19 came along, and we’re glad to see that the capacity therefore has been increased considerably beyond what Moderna would have been able to do” by itself, Afeyan said.

Asked how successful he thought others might be if they started from scratch using Moderna patents, he declined to speculate. But “it’s hard for me to imagine that they would be able to get any meaningful scale in a short time frame at the quality we would be able to do as a certainty” for 2022.

Asked about recent criticism that Moderna has been furnishing its vaccine mainly to wealthy countries while low-income countries clamor for the product, Afeyan said the company supplied a “quite significant” output to poorer nations, mostly through its work with the US government, which contracted early in the pandemic with the company for doses. AP

A6

Wednesday, October 13, 2021

TheWorld BusinessMirror

More than 130 countries reach deal on corporate minimum tax T

www.businessmirror.com.ph

China’s response to US trade talks shows gap between two

F

R A NK FURT, Ger m a ny— More than 130 countries have agreed on sweeping changes to how big global companies are taxed, including a 15 percent minimum corporate rate designed to deter multinationals from stashing profits in low-tax countries.

The deal announced Friday is an attempt to address the ways globalization and digitalization have changed the world economy.

It would allow countries to tax some of the earnings of companies located elsewhere that make money through online retailing, web advertising and other activities.

US President Joe Biden has been one of the driving forces behind the agreement as governments around the world seek to boost revenue following the

Covid-19 pandemic.

The agreement among 136 countries representing 90 percent of the global economy was announced by the Paris-based Organization for Cooperation a nd Econom ic De ve lopment, which hosted the talks that led to it. The OECD said that the minimum tax would reap some $150 billion for governments.

“Today’s agreement represents a once-in-a-generation accomplishment for economic diplomacy,” US Treasury Secretary Janet Yellen said in a statement. She said it would end a “race to the bottom” in which countries outbid each other with lower tax rates.

“Rather than competing on our ability to offer low corporate rates,” she said, “America will now compete on the skills of our work-

ers and our capacity to innovate, which is a race we can win.”

The deal faces several hurdles before it can take effect. US approval of related tax legislation proposed by Biden will be key, especially since the US is home to many of the biggest multinational companies. A rejection by Congress would cast uncertainty over the entire project.

The big US tech companies like Google and Amazon have supported the OECD negotiations.

One reason is that countries would agree to withdraw individual digital services taxes they have imposed on them in return for the right to tax a part of their earnings under the global scheme.

That means the companies would deal with just the one international tax regime, not a multitude of different ones depending on the country.

“This accord opens the way to a true tax revolution for the 21st century,” said French Finance Minister Bruno Le Maire. “Finally the digital giants will pay their just share in taxes in the countries—including France— where they produce.”

On T hu rsd ay, Irel a nd a nnounced that it would join the agreement, ditching a low-tax policy that has led companies like Google and Facebook to base their European operations there.

Although the Irish agreement was a step forward for the deal, developing countries have raised objections and Nigeria, Kenya,

Pakistan and Sri Lanka have indicated they will not sign up.

Anti-poverty and tax fairness advocates have said the bulk of new revenue would go to wealthier countries and offer less to developing countries that are more dependent on corporate taxes. The G-24 group of developing countries said that without a bigger share of revenue from reallocated profits, the deal would be “sub-optimal” and “not sustainable even in the short run.”

The deal will be taken up by the Group of 20 finance ministers next week, and then by G-20 leaders for final approval at a summit in Rome at the end of October.

Countries would sign up to a diplomatic agreement to implement the tax on companies that have no physical presence in a country but earn profits there, such as through digital services. That provision would affect around 100 global firms.

The second part of the deal, the global minimum of at least 1 5 p e rc e nt , w ou l d ap pl y t o companies with more than 750 million euros ($864 million) in revenue and be passed into domestic law by countries according to model rules developed at the OECD. A top-up provision would mean ta x avoided overseas would have to be paid at home. So long as at least the major headquarters countries implement the minimum ta x, the deal would have most of its desired effect. AP

IMF board approves allowing Georgieva to remain as IMF head

W

A S H I N G T O N —T h e Inter nationa l Monetary Fund expressed “full confidence” in its managing director Tuesday in response to allegations that World Bank staff were pressured to change business rankings for China in an effort to placate Beijing.

The IMF’s 24-member executive board said in a statement that its review “ did not conclusively demonstrate that the managing director, Kristalina Georgieva, played an improper role” in the situation in her former role as a top official of the World Bank.

“Having looked at all the evidence presented, the executive board reaffirms its full confidence in the managing director’s leadership and ability to continue to effectively carry out her duties,” it said.

However, it said the probe into possible misconduct by World Bank staff was continuing and the United States, the IMF’s largest shareholder, said it planned to closely monitor the further investigation into the issue.

Georg ieva h a s den ied a ny wrongdoing in response to a report alleging she played a role in pressuring staff to amend data affecting the business climate rankings of China and other nations.

US Treasury Secretary Janet Yellen spoke with Georgieva by phone and said the report “raised legitimate issues and concerns,” the Treasury Department said in a statement.

However, the Treasury agreed that “absent further direct evidence with regard to the role of the managing director there is not a basis for a change in IMF leadership.”

Yellen said it was crucial to

defend the integrity of both the IMF and World Bank.

The “US believes proactive steps must be taken to reinforce data integrity and credibility at the IMF, and that the institution and its leadership must renew their commitment to upholding transparency and whistleblower protections surrounding policies, research, and analysis to provide accountability and public oversight over key decisions,” the Treasury statement said.

The IMF had said late Friday it was seeking more “clarifying details” in its investigation and the board met again with Georgieva on Sunday.

Georgieva appeared before a panel for more than five hours last week after a presentation by the law firm WilmerHale that alleged she and other World Bank officials had pressured staff to alter the data.

The law firm’s report prompted the World Bank to discontinue the annual Doing Business report, which China and other countries had used to attract foreign business investment.

The incident prompted critics to contend that China, the world’s second largest economy, has too much influence over international finance organizations.

T he 19 0 - n at io n I M F a nd World Bank annual meetings are being held this week in Washi n g ton a nd t he cont ro ve r s y surrounding the Doing Business report was threatening to overshadow the agenda of those meetings.

Georgieva is only the second woman to head the IMF, taking over two years ago from Christine Lagarde, who left the IMF to become head of the European Central Bank. AP

he US and China are still fa r apa r t on econom ic and trade questions, with recent statements from both sides showing just how big that gap remains.

China’s ambassador to Washington said over the weekend that Beijing wants the US to stop restrictions and sanctions against its companies, outlining some of the Asian nation’s demands for future talks. That was in response to US Trade Representative Katherine Tai’s comments before her call with Vice Premier Liu He, in which the US raised concerns about China’s state-led support for businesses.

Beijing wants the US to rectify problems such as the increasing difficulty Chinese companies have investing or listing in the US and the restrictions placed on more than 900 Chinese entities, Ambassador Qin Gang told Phoenix TV in an interview, according to a summary on the embassy’s website. In particular, restrictions due to “national security” are unfair, Qin said, warning of serious consequences if this continued.

The US is still ramping up restrictions and enforcement on Chinese firms, recently suspending new initial public offerings of China-based companies and demanding that those already listed in the US submit to more scrutiny or face being delisted.

Trade deal

On the trade deal signed last year, the two sides have opposing views on whether China is living up to its end of the bargain. The deal called for Beijing to make changes to regulations on intellectual property and other areas, and had specific targets for Chinese purchases of US goods. Bloomberg calculations show that China has only bought half of the goods it promised to purchase so far.

Qin rejected accusations that China has failed to adhere to the agreement, arguing that the country has made “tangible” steps and “sincerely and steadily” implemented the accord.

However, US Commerce Secretary Gina Raimondo said last month China isn’t abiding by commitments to buy goods, noting that Beijing is preventing the nation’s airlines from buying “tens of billions of dollars” of Boeing Co. planes. US Trade Representative Katherine Tai said last week the administration would work to enforce China’s commitments in the trade deal.

Industrial policy

The US has long-standing concerns about the state-controlled structure of China’s economy and subsidies, and has repeatedly raised what a senior US official last week called China’s “unfair,

non-market practices.” Those issues were part of the negotiations under the Trump administration, although they weren’t included in the 2020 trade deal.

The US has continued to try and discuss this with China and is also weighing a new investigation into Chinese subsidies as a way to pressure Beijing on trade, people familiar with the matter told Bloomberg last month.

In her call with China’s vice premier last week, Tai “emphasized US concerns relating to China’s state-led, non-market policies and practices that harm American workers, farmers and businesses,” according to the US readout of the conversation.

However, there’s no sign that China is willing to make changes.

The topic wasn’t in China’s official statement on the Tai-Liu discussion, which instead said that Liu made clear Beijing’s position “on issues including China’s economic development model and industry policies,” and requested the US get rid of all the tariffs and sanctions.

The US, in turn, didn’t mention discussing dropping tariffs in its statement. While the US announced it would start a new process to exclude some imports from being subjected to duties, there’s no indication that it plans to permanently lift any of the other taxes on Chinese goods. And the reported investigation into Chinese industrial policy could lead to even more tariffs.

Areas other than economics and trade also show the distance between the two sides, with Ambassador Qin calling the Central I nte l l igence A genc y ’s recent decision to set up a ‘China Mission Center’ the “most serious miscalculation.”

“Shouldn’t the Cold War playbook, travestied from 007 movies, be just left to Hollywood blockbusters?” Qin said. “Some people in the US, immersed in their delusions that they are James Bond per se, simply can’t resist the urge to act out their own play.”

Presidents Xi Jinping and Joe Biden spoke by phone last month and there are reports they will have a virtual meeting in coming months, but both sides continue to put the onus for improving relations on the other.

For t he US, C h i n a shou ld change the “practices that do harm to American firms and workers,” according to a senior government official. For China, the US should “do more things conduc ive to t he sou nd a nd steady development of China-US economic and trade ties,” Ministry of Foreign Affairs Spokesman Zhao Lijian said last week.

There’s no public sign of those parallel tracks merging anytime soon. Bloomberg News

3 US-based economists win Nobel for research on wages, jobs

S

TOCKHOLM—A US-based economist won the Nobel prize in economics Monday for pioneering research that transformed widely held ideas about the labor force, showing how an increase in the minimum wage doesn’t hinder hiring and immigrants don’t lower pay for native-born workers. Two others shared the award for developing ways to study these types of societal issues.

Canadian-bor n Dav id Card of the University of California, Berkeley, was awarded half of the prize for his research on how the minimum wage, immigration and education affect the labor market.

The other half was shared

by Joshua Angrist of the Massachusetts Institute of Technolog y and Dutch-born Guido Imbens of Stanford University for their framework for studying issues that can’t rely on traditional scientific methods.

The Royal Swedish Academy of Sciences said the three “com-

pletely reshaped empirical work in the economic sciences.”

Together, they helped rapidly expand the use of “natural experiments,” or studies based on obser ving real-world data.

Such research made economics more applicable to everyday life, provided policymakers with actual evidence on the outcomes of policies, and in time spawned a more popu l a r approac h to economics epitomized by the blockbuster bestseller “Freakonomics,” by Stephen Dubner and Steven Levitt.

In a study published in 1993, Card looked at what happened to jobs at Burger K ing, K FC, Wendy’s and Roy Rogers when New Jersey raised its minimum wage from $4.25 to $5.05, using restaurants in bordering eastern Pennsylvania as the control — or comparison — group. Contrary to previous studies, he and his late research partner Alan Krueger found that an increase in the minimum wage had no effect on the number of employees. AP

A8 Wednesday, October 13, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Govt needs to temper rising food inflation

A

head of the celebration of World Food Day on October 16, the United Nations’ Food and Agriculture Organization released its data on global food prices. FAO published on October 7 its Food Price Index, which trained the spotlight on headwinds that would make it more difficult for nations to reduce hunger incidence. According to FAO, its Food Price Index rose for the second consecutive month and hit a 10-year high in September on the back of the tightening supply and robust demand for staples, such as wheat and palm oil.

The index averaged 130.0 points in September, up 1.2 percent from August and 32.8 percent higher than in September 2020. The FAO Cereal Price Index in September went up by 2 percent from the previous month, with world wheat prices up almost 4 percent, and as much as 41 percent higher than a year earlier. The report indicated that strong demand from countries that have been able to reopen their economies and the thin supply have caused the surge in wheat prices during the period.

Apart from wheat, rice prices also rose in September, a development that does not bode well for rice-importing countries like the Philippines. Rice prices quoted by Vietnam were higher on rising logistical costs and strong local demand amid the Covid-linked movement restrictions, according to the market monitor of FAO’s Agricultural Market Information System. Vietnam, our neighbor in Southeast Asia, is the Philippines’s top source of the staple.

What could compound the food woes of net-food importing countries like the Philippines in the coming months are the worsening container crisis as well as rising oil and fertilizer prices. In June, economists told this newspaper that local consumers should brace for higher fuel and food prices after oil hit a record of $75 per barrel (See, “Brace for higher fuel, food prices–experts,” in the BusinessMirror, June 18, 2021). Bloomberg reported that oil prices could hit $90 per barrel during the winter months on expectations that consumers would switch to oil-based products due to rising natural gas prices.

Filipinos have already felt the impact of energy prices in September when the Housing, Water, Electricity, Gas and Other Fuels index hit a 2-year high. Expensive electricity and liquefied petroleum prices were the cause of the uptick, according to the Philippine Statistics Authority. Petroleum products sold locally are also more expensive after international crude oil prices rallied in recent months.

The movement of oil prices is an important barometer for local food producers, as this would directly have a bearing on the price of essential inputs, such as fertilizer. A spike in local pump prices would be problematic for planters and fishers who need oil for their farm equipment and their fishing boats or bancas. We hope that the government has already finalized the necessary measures to help temper the impact of these international developments on local food systems and to ensure that food would remain affordable in the country, especially for those pushed by the pandemic from the labor force. Authorities must not forget that high food inflation adversely affects the purchasing power of wage earners and may increase the incidence of poverty in the country.

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

Resumption of the Annual Confirmation of Pensioners Program Aurora C. Ignacio

All About Social Security

R

ecently, I received some feedback from our members about the timeliness of the receipt of their benefits and how grateful they were that they can receive social security benefits during these challenging times. I am happy that we are exceeding our members’ and pensioners’ expectations on how their years of contributions are working for them. As much as it is our responsibility to provide social security protection, it is also our job to make sure that our benefits are reaching the rightful beneficiaries. We implemented procedures to properly establish their respective identities, and we always make sure the recipients have accurate and updated records in our system for validation and reference purposes.

For our pensioners, we continue to implement the Annual Confirmation of Pensioners (ACOP) Program.

This program requires pensioners to annually report to the SSS to ensure the continuous payment of their benefits under the Social Security Law. From March 2020 until September 30, 2021, due to strict nationwide quarantine protocols, we suspended its implementation. It is worth mentioning that even with the program’s suspension, some pensioners still sent in their compliance by leaving them at the dropboxes located

nationwide or even sending them through mail or e-mail—this further attests to the pensioners’ readiness to comply with our guidelines despite the imposed quarantine restrictions in our respective areas.

Starting October 1, 2021 until March 31, 2022, all Retirement (residing abroad), Total Disability and Survivor Pensioners, as well as their Dependent Children (minor or incapacitated) and Guardians must now comply with ACOP as SSS has already resumed the implementation of the compliance program. The usual

schedule for ACOP compliance starting April 2022 will be the following: n Retirement Pensioner residing abroad and total disability pensioner—month of birth of pensioner. n Su r v ivor pensioner — month of birth of the deceased member. n Dependent (minor/incapacitated)—month of birth of the member/deceased member.

For survivor and dependent pensioners, you may send your compliance through the corporate e-mail address of the SSS branch office following the format below as the e-mail subject: ACOP Compliance, Pensioner’s Name (e.g., ACOP Compliance, Juan E. Dela Cruz); thru mail or courier addressed to the SSS branch office.

Scanned copies of documents to be submitted are as follows: 1. Duly accomplished ACOP Form (Pensioner’s Reply).

2. One primary ID card or at least two secondary ID cards.

3. Self-declaration Form of the Survivor Pensioner on Non-remarriage/Non-Cohabitation.

4. Additional document, whichever is applicable: Half-body photo or snapshot of the pensioner holding a current newspaper wherein the headline and date of publication are prominently

displayed or having a background of news crawler/ticker on the TV showing the current news headline and date.

Make sure that the date of newspaper/news crawler or ticker on the TV must be the same with the date of submission of ACOP compliance thru mail/courier/drop box.

Certification from institution where pensioner is confined, such as retirement home, penitentiary, nursing facility, hospital, correctional institution, rehabilitation center, etc.

For total disability pensioners, they may leave their documents at the SSS drop boxes. Put all documents in a sealed large brown envelope and write in front “ACOP Compliance” and the Pensioner’s Name.

Do not write the SS Number.

Here are what you need to submit: 1. Duly accomplished ACOP Form (Pensioner’s Reply).

2. One primary ID card or at least two secondary ID cards.

3. Half-body photo or snapshot of the pensioner holding a current newspaper wherein the headline and date of publication are prominently displayed or having a background of news crawler/ticker on the TV showing the current news headline and date.

4. Recent Medical Certificate issued by his/her attending physician See “Ignacio,” A9

Risky move: Biden undercuts White House executive privilege shield

By Colleen Long And Zeke Miller | Associated Press

W

ASHINGTON—It’s a risky move by President Joe Biden that could come back to haunt him—and future presidents—in the hyperpartisan world of Washington politics.

Democrat Biden has agreed to a request from Congress seeking sensitive information on the actions of his predecessor Donald Trump and his aides during the Jan. 6 insurrection, though the former president claims the information is guarded by executive privilege.

The move by Biden isn’t the final word; Republican Trump says he will challenge the requests and a lengthy legal battle is likely to ensue over the information. Courts have ruled that former presidents are afforded executive privilege in some cases.

But the playbook for the legal world is different from the political world. And in the political world, “every time a president does something controversial, it becomes a building block for future presidents,” said Saikrishna Prakash, a law professor at the University of Virginia who studies presidential powers.

Biden’s decision not to block the

information sought by Congress challenges a tested norm—one in which presidents enjoy the secrecy of records of their own terms in office, both mundane and highly sensitive, for a period of at least five years, and often far longer. That means Biden and future presidents, as well as Trump. While not spelled out in the Constitution, executive privilege has developed to protect a president’s ability to obtain candid counsel from his advisers without fear of immediate public disclosure and to protect his confidential communications relating to official responsibilities.

But that privilege has its limitations in extraordinary situations, as exemplified during the Watergate scandal, when the Supreme Court ruled that it could not be used to shield the release of secret Oval Office tapes sought in a criminal inquiry, and following the September 11 terrorist attacks.

The January 6 insurrection belongs among those ranks, Biden’s White House counsel wrote to the keeper of records, the Archivist of the United States. An armed mob of Trump supporters stormed the building in an attempt to stop the certification of Biden’s election victory.

“This committee is investigating a dark day in our democracy—an attempt to undermine our Constitution and democratic processes by the former president—and that context, I think, is important here, too,” White House press secretary Jen Psaki said of the congressional panel seeking the records. The argument that the special circumstances of the attack justify the extraordinary release should guard against the erosion of executive privilege for presidencies going forward, some experts said.

“By ratcheting up how extraordinary and extreme it is, it limits the precedent going forward,” said Jonathan Shaub, an assistant professor of law at the University of Kentucky J. David Rosenberg College of Law and a former attorney-adviser in the Office of Legal Counsel in the Obama administration.

But those other exceptions oc-

curred in a pre-Trump world, where there were clear customs and norms, and generally, one set of facts. Today, a large part of the country believes Trump’s lies that he is the rightful winner of the 2020 election, even though there is no credible evidence to support his claims of mass fraud, and Trump and his allies have gone to great lengths to recast the events of January 6 to make the rioters out to be warrior patriots.

If history is any guide, once the door to reviewing past presidential records is ajar, future Congresses and presidents could swing it open further as politics warrant.

It’s a path followed by other Washington norms in the increasingly rancorous capital. In 2013, Democrats deployed the so-called nuclear option to eliminate the filibuster that would require 60 votes to approve most presidential appointments and nominations, but maintained it for legislation and Supreme Court picks.

In 2017, when Republicans took control of Washington, they took the tactic further, and during the Trump years, they put three justices on the high court by simple majority votes.

See “Biden,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday, October 13, 2021 A9

Tensions persist between Noise and seafarer’s hearing loss legacy of Columbus, Dennis Gorecho native people

Pinoy Marino Rights

By Kathleen Foody And Wilson Ring | Associated Press

M

onday’s federal holiday dedicated to Christopher Columbus is highlighting the ongoing divide between those who view the explorer as a representative of Italian American history and others horrified by an annual tribute that ignores native people whose lives and culture were forever changed by colonialism.

H

Spurred by national calls for racial equity, communities across the US took a deeper look at Columbus’ legacy in recent years—pairing or replacing it with Indigenous Peoples Day. On Friday, President Joe Biden issued the first presidential proclamation of “Indigenous Peoples Day,” the most significant boost yet to efforts to refocus the federal holiday celebrating Columbus.

But activists, including members of Native American tribes, said ending the formal holiday in Columbus’ name has been stymied by politicians and organizations focusing on Italian American heritage.

“The opposition has tried to paint Columbus as a benevolent man, similar to how white supremacists have painted Robert E. Lee,” Les Begay, Diné Nation member and co-founder of the Indigenous Peoples Day Coalition of Illinois, said, referring to the Civil War general who led the Confederate Army.

Columbus’ arrival began centuries of exploration and colonization

by European nations, bringing violence, disease and other suffering to native people already living in the Western Hemisphere.

“Not honoring Indigenous peoples on this day just continues to erase our history, our contributions and the fact that we were the first inhabitants of this country,” Begay said.

Across the country tension, over the two holidays has been playing out since the early 1990s. Debates over monuments and statues of the Italian explorer tread similar ground, as in Philadelphia where the city placed a box over a Columbus statue last year in the wake of the murder of George Floyd, a Black man, by a white Minneapolis police officer. Protesters opposing racial injustice and police brutality against people of color rallied for months in summer 2020.

Philadelphia lawyer George Bochetto, who has been fighting Democratic Mayor Jim Kenney’s administration to uncover the statue, said Saturday many felt efforts to remove it were an attack on ItalianAmerican heritage.

Kenney previously signed an executive order changing the city’s annual Columbus Day holiday to Indigenous Peoples Day. Monday will be the first city holiday under the new name.

“We have a mayor that’s doing everything he can to attack the Italian American community, including canceling its parade, removing statues, changing the Columbus Day holiday to Indigenous Peoples Day by fiat,” Bochetto said.

Kenney spokesperson Kevin Lessard said the statue should remain boxed up “in the best interest and public safety of all Philadelphians.”

In 2016, Lincoln, Nebraska, joined other cities adding Indigenous Peoples Day to the calendar on the same date as Columbus Day. Events on Monday will focus on the newer addition, including unveiling a statue honoring the first Native American physician, Dr. Susan La

In the case of OSM Maritime Services v. Nelson Go (GR 238128 February 17, 2021), the medicallyrepatriated seafarer was diagnosed with Meniere’s Disease, which is described as an incurable disorder of the inner ear that causes severe dizziness, ringing sound in the ears, intermittent hearing loss, and feeling of ear pressure or pain.

In granting total permanent benefits, the Court disregarded the fit­-to-work assessment issued by the company doctor, noting that it does not mirror the seafarer’s true condition in terms of his ability to resume his duties.

His work as an Oiler/Motorman onboard the vessel exposed him to loud and deafening engine noises, engine heat and harmful chemicals inherent in engine oils.

Taking into account his length of service, the seafarer’s continued exposure to these health hazards onboard the vessel had contributed

Biden. . .

continued from A8

Presidents tend to be protective of their ability to keep White House documents private, both for themselves and their predecessors. But any White House move to deny the congressional request for records on Trump’s activities could antagonize

Flesche Picotte.

Some feel a split day causes further harm. Activists plan a small protest outside the Robert V. Denney Federal Building, calling for an outright end to the holiday in Columbus’ name at all levels of government.

“It’s patently absurd to honor Indigenous people and the man who tortured and murdered their ancestors,” said Jackson Meredith, an organizer. “As far as we’re concerned, we’re going to keep protesting it until Columbus Day is abolished.”

In New York City, the annual Columbus Day Parade returns after a one-year, in-person absence attributed to the coronavirus pandemic.

The parade is touted by some as the world’s largest Columbus Day celebration.

In May, Italian American activists complained after the Board of Education erased Christopher Columbus Day from the New York City school calendar, replacing it with “Indigenous Peoples Day.” Following the outcry, the schools changed the designation to: “Italian Heritage Day/Indigenous Peoples Day.” Mayor Bill de Blasio said he supported the compromise.

“We have to honor that day as a day to recognize the contributions of all Italian Americans, so of course the day should not have been changed arbitrarily,” de Blasio said.

Chicago’s annual Columbus Day parade also returns Monday after the pandemic forced 2020’s cancellation of the event that draws 20,000 people. It’s a vivid reminder of the ongoing fight over three statues of Columbus, still warehoused by the city after protesters targeted them in summer 2020.

Mayor Lori Lightfoot in July 2020 ordered the statues removed and said demonstrations were endangering protesters and police.

She later created a committee to review monuments in the city, including the fate of Columbus monuments. No plans have been announced publicly, but the Joint Civic Committee of Italian Americans that plans the Columbus Day parade this summer sued the city’s park district, demanding that one be restored.

Ron Onesti, the organization’s president, said the parade usually draws protesters and expects that on Monday too. He sees the holiday, parade and statues as a celebration of Italian Americans’ contributions to the US, not just Columbus.

“The outcome I’m looking for is [for] our traditions to be respected and conversations to continue,” Onesti said Saturday. “Every plaque that goes along with a statue says it recognizes the Italian community’s contributions. So people need to understand that’s why it’s there, and then let’s sit down and figure out where to go from here.”

Illinois in 2017 designated the last Monday in September as Indigenous Peoples Day but kept Columbus Day on the second Monday of October. A proposal to replace Columbus Day filed this year hasn’t received any action.

Democratic legislators just when Biden needs their support to advance his agenda.

The documents requested by the congressional committee are part of a lengthy and contentious investigation into how the Jan. 6 mob was able to infiltrate the Capitol and disrupt the certification of Biden’s presidential victory in the most serious assault on Congress in two centuries.

earing loss is a serious medical condition for a seafarer as it impacts his physical and economic well-being.

A seafarer’s hearing loss may be caused or aggravated by his working environment, like noise, entitling him to disability benefits. mainly to a very great possibility for him to contract the illnesses and/or having aggravated the same while onboard the vessel.

In various cases, the Supreme Court acknowledged the fact that the working condition on board the vessel can aggravate the seafarer’s medical condition, regardless if the illness is listed or not as occupational diseases.

Although the word “aggravate” does not appear in the definition of work-related illnesses under the POEA contract, the Court nevertheless interpreted such phrase “workconnected” to include the so-called “aggravation theory”.

This theory was utilized in the case of Magsaysay v. Laurel (March 20, 2013 GR 195518) wherein the Court ruled on the reasonable work connection between condition at work and the development of the medical condition. The seafarer’s constant exposure to hazards such as

chemicals and the varying temperature, coupled with stressful tasks in his employment, caused, or at least aggravated, his illness.

In Remigio v. NLRC ( 487 SCRA 190), the Court ruled that an ailment does not depend on whether the injury or disease was pre-existing at the time of the employment but rather if the disease or injury is work related or the job aggravated his condition.

At the very least, the arduous nature of his employment had contributed to the aggravation of the injury, if indeed it was pre-existing at the time of his employment.

The exact cause of the ailment suffered by a claimant is not significant, and the possibility that factors other than the employment, such as advancing age, may have caused or contributed to the development of the ailment, is not a drawback; for what is material and decisive is that the employment contributed even in a small degree in aggravating the ailment. (Calvero v. ECC, 117 SCRA 452) Seafarers working in engine rooms have a higher tendency to experience hearing disabilities.

Hearing loss is a very real possibility but is one of those types of occupational illness that are not usually immediately obvious.

The effects of exposure to engine noise over the years more often than not appear as the seafarer approaches retirement age.

In the event that such hearing loss was detected during the PEME, the seafarer will not automatically

receive medical benefits even if he is connected with the company for a long period of time.

The seafarer must complain of the illness during the effectivity of the contract, which leads to his medical repatriation. Otherwise, it will be a case of finished contract disqualifying him for medical benefits.

If the seafarer suspects that he has hearing loss because of noise exposure on the job, he should see a doctor before disembarkation and get medical records that prove it was most likely caused by years of exposure at work. Under the POEA Contract, total deafness of both ears is assessed as a Grade “3” disability.

Despite said unfortunate condition, the seafarer will not be given total permanent disability benefits.

A seafarer suffering from total deafness may be considered more of a liability than an asset if he is allowed to go on board the vessel.

The contract fails to recognize that “it is not the injury which is compensated, but rather it is the incapacity to work resulting in the impairment of one’s earning capacity. Disability need not render the seafarer absolutely helpless or feeble to be compensable; it is enough that it incapacitates him to perform his customary work.” (PTC v. NLRC, 353 SCRA 47) Lawyer 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.

German companies urge next government to step up on climate

By Frank Jordans

Monday with the environmentalist Greens party and the pro-business Free Democrats to discuss forming a coalition government.

“Climate protection was the decisive topic in the federal election and the parties must place it at the top of their agenda in building the new federal government,” said Michael Otto, board chairman of the mail order company Otto Group and president of the Foundation 2 Degrees, which organized the letter. Keeping global warming well below 2 degrees Celsius (3.6 degrees Fahrenheit)—ideally no more than 1.5 degrees C (2.7 degrees F)—by the end of the century is a key goal of the Paris accord.

Earlier this year, Merkel’s government adopted a plan to reduce the country’s greenhouse gas emissions to “net zero” by 2045, five years earlier than previously planned.

But official figures show that Germany is slipping behind on its ambitions for cutting greenhouse gases, with 2021 emissions forecast to rebound sharply after a pandemicrelated economic slump.

The signatories, which have an annual turnover of about €1 trillion ($1.16 trillion) and employ more than 5 million people worldwide, want the next government to support the rollout of renewable energy and enact a climate-friendly tax reform that includes a strengthened carbon pricing system to prevent investments in power-hungry industries going abroad.

Pointing toward the upcoming UN climate summit in Glasgow, Scotland, and Germany’s presidency of the Group of Seven major economies next year, the companies said the German government must also

work to set international standards for the global financial system and climate-neutral products.

“As businesses, we are prepared to fulfill our central role in climate action. We call upon the new German government to make the transformation to climate neutrality the central economic project of the coming legislative period,” they said. Campaigners questioned how serious some of the signatories are about combating climate change, however.

“They want climate ambition, just as long as it doesn’t get in the way of their profits,” said Pascoe Sabido, a researcher at the Corporate Europe Observatory, which investigates business lobbying at the European Union level. “That’s often an impossible circle to square.”

The UN climate summit begins October 31.

or by any government physician indicating complete physical examination findings and current medical status/condition.

5. Certified true copy of result of laboratory procedure done within one year from birth month (if any).

In complicated cases, they may also request for a home visit by sending a written request from the pensioner/representative via e-mail of Medical Services Section/drop box/ mail of the nearest SSS branch.

For pensioners residing abroad, compliance is through video conference using MS Teams (except for total disability pensioner) by requesting for an appointment through e-mail at ofw.relations@sss.gov.ph. Wait for the SSS e-mail confirmation on the ACOP VC together with the Transaction Reference Number (TRN), requirements for ACOP VC and MS Teams Meeting Link. Present one primary ID card or at least two sec-

ondary ID cards during the video conference.

Another option is through the corporate e-mail of Foreign Representative Office or OFW-Contact Services Section at ofw.relations@ sss.gov.ph with this format: ACOP Compliance, Pensioner’s Name (e.g., ACOP Compliance, Juan Dela Cruz).

Just send scanned copies of the following required documents: 1. Duly accomplished ACOP Form (Pensioner’s Reply).

2. One primary ID card or at least two secondary ID cards.

3. Self-declaration form of the survivor pensioner on Non-Marriage/Non-Cohabitation.

4. Half-body photo or snapshot of the pensioner holding a current newspaper wherein the headline and date of publication are prominently displayed or having a background of news crawler/ticker on the TV showing the current news headline and date.

5. Certification from institution where pensioner is confined such as retirement home, penitentiary, nursing facility, hospital, correctional in-

stitution, rehabilitation center, etc.

They may send also send the above -ment ioned documents through mail or courier addressed to: OFW Contact Services Section, International Operations Group, 11th Floor, SSS Main Office, Diliman, Quezon City 1100 or the nearest Foreign Representative Office.

Addresses can be accessed from our directory found on the SSS website, www.sss.gov.ph.

For total disability pensioner, compliance may be sent through mail or courier addressed to the nearest Foreign Representative Office. Required documents are: 1. Duly accomplished ACOP Form (Pensioner’s Reply).

2. One primary ID card or at least two secondary ID cards.

3. Half-body photo or snapshot of the pensioner holding a current newspaper wherein the headline and date of publication are prominently displayed or having a background of news crawler/ticker on the TV showing the current news headline and date.

4. Recent Medical Certificate issued by his/her attending physician or by any government physician indicating complete physical examination findings and current medical status/condition.

5. Certified true copy of result of laboratory procedure done within one year from birth month (if any).

The ACOP Form (Pensioner’s Reply) may be downloaded from the SSS website (www.sss.gov.ph). Pensioners who do not comply with the resumption of ACOP until March 31, 2022 will have their pensions automatically suspended in April 2022 (effective May 2022 pension).

Starting April 1, 2022, pensioners who do not comply with the usual ACOP schedule will have suspended pensions effective May 2022.

Have a safe and healthy week everyone!

More than 630 people have been charged criminally in the attack, the largest prosecution in US history.

Thousands of documents have been sought from the Trump administration as they try to determine how the insurrection could have happened. Many of those requests went to the National Archives, where Trump’s correspondence during his time in office is held.

According to an executive order on presidential records, the archivist of the United States “shall abide by any instructions given him by the incumbent President or his designee unless otherwise directed by a final court order.”

“Congress is examining an assault on our Constitution and democratic institutions provoked and fanned by those sworn to protect them,”

White House counsel Dana Remus wrote in a letter to the archivist. “The constitutional protections of executive privilege should not be used to shield, from Congress or from the public, information that reflects a clear and apparent effort to subvert the Constitution itself.”

Trump responded with his own letter to the National Archives formally asserting privilege over nearly

50 documents.

Referring to the Presidential Records Act, Trump wrote, “I hereby make a protective assertion of constitutionally based privilege with respect to all additional records.”

He said if the committee seeks other information he considers privileged information, “I will take all necessary and appropriate steps to defend the Office of the Presidency.”

Associated Press

B

ERLIN—Dozens of large German companies have urged the country’s next government to put in place ambitious policies to meet the goals of the 2015 Paris climate accord.

The 69 companies said in an open letter Monday that the next government needs to put Germany “on a clear and reliable path to climate neutrality” with a plan for doing so within its first 100 days in office.

The signatories included chemicals company Bayer, steelmaker ThyssenKrupp and sportswear firm Puma. The center-left Social Democrats narrowly beat outgoing Chancellor Angela Merkel’s conservative Union bloc in an election last month.

The Social Democrats were meeting

Ignacio. . .

continued from A8

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.

A10 Wednesday, October 13, 2021

SB CORP. TO OPEN LOAN FACILITY FOR 13TH MO

By Tyrone Jasper C. Piad @Tyronepiad

T

HE Department of Trade and Industry (DTI), through its financing arm Small Business Corporation (SB Corp.), is initially earmarking P200 million for a lending facility assisting micro, small and medium enterprises (MSMEs) in paying 13th-month salaries.

The Trade department announced on Tuesday that SB Corp. is now creating a borrowing program for struggling MSMEs needing help to fund their 13-month salaries. This is also being discussed with the Department of Labor and Employment.

“That [lending window] is being worked out now by SB Corp. Offhand, setting aside around P200 million for a start, expecting around 50,000 to 200,000 types of loan for the 13th-month pay,” Lopez told the reporters.

The trade chief said he sees “no reason to defer the 13th-month pay” because the government can provide financial assistance to the business sector.

The DTI said it also provided financing for the MSMEs seeking additional funding for 13th-month pay last year through SB Corp.’s Covid-19 Assistance to Restart Enterprises (CARES) program. It came from the P8-billion allocation under the Bayanihan to Recover as One Act. While the CARES program can aid

the businesses, Lopez said that a “more sustainable solution” is the further reopening of the economy.

“The idea here is that we allow more business continuity and simply adjust operating capacities at different Alert Levels to safely increase mobility,” he said.

More mobility is possible with higher vaccination rates, Lopez said, noting that the National Capital Region has reached 80-percent immunization coverage against Covid-19.

“This will be a shift from the openclose-open-close system at different lockdown levels and will bring back more economic activities and jobs. This strategy will also bring better chances of meeting financial obligations as we advance the country’s vaccination rollout and move closer to a New Normal,” he added.

Metro Manila is under Alert Level 4 until October 15.

Outdoor dine-in and personal care services—including barbershops, hair spas, nail spas and beauty sales—are allowed 30 percent capacity. For indoor capacity, operations are capped at 20-percent for fully vaccinated individuals only.

Gyms and fitness studios, meanwhile, are given 20-percent operational capacity for non-contact exercises and fully vaccinated customers. Previously, Lopez stressed the need to reopen the gyms as exercises are vital to build better immune system amid the pandemic.

DOF projects ₧76.2-B tax take from Pogo till 2023

T

By Bernadette D. Nicolas

@BNicolasBM

HE Department of Finance (DOF) projects the government will rake in a total of P76.2 billion from the full implementation of the law taxing Philippine Offshore Gaming Operations (Pogos) in the next two years.

Assuming that the Pogo tax law will be fully implemented next year, Finance Secretary Carlos G. Dominguez III said P35.1 billion of the total will be generated from the collection of 5-percent gaming tax on gross gaming revenues of Pogos or Offshore Gaming Licensees (OGLs), while P41.2 billion in taxes will be collected from the 25-percent final withholding tax from gross income of alien individual employees of OGLs

from 2022 to 2023.

“Again, you know, those are projections and they will depend on how much money is going to be coming from the major source of the gambling,” Dominguez told finance reporters in an interview.

But contrary to the earlier statement of the Philippine Amusement and Gaming Corporation (Pagcor) that more Pogos will exit the country due to stringent BIR rules, Dominguez said

SC to Senate: Comment on Ong petition vs contempt

T

HE Supreme Court has directed the Senate to answer the petition filed by Pharmally Pharmaceutical Corporation official Linconn Ong assailing its orders citing him in contempt, ordering his arrest and placing him under detention for allegedly testifying “falsely and evasively” on his company’s multibillion-peso contracts with the government for pandemic-related medical supplies.

SC spokesman Brian Keith Hosaka said the order was confirmed by Chief Justice Alexander Gesmundo following the magistrates’ regular en banc session on Tuesday.

“As per Chief Justice Alexander Gesmundo, the respondents in the petition filed by Linconn Ong were required by the Court to file their comment to the main petition and prayer for TRO [temporary restraining order],” Hosaka said.

The usual period given to respondents in a petition, according to Hosaka, is 10 days.

Ong named Senate President Vicente “Tito” Sotto III, Senate Blue Ribbon Committee chairman Richard Gordon and the Senate sergeant-at-arms, retired Maj. Gen Rene Samonte.

Ong filed his petition through lawyer Ferdinand Topacio, who earlier called the Blue Ribbon Committee a “kangaroo court.”

In his petition, Ong asked the Court to declare null and void for being unconstitutional the implementation of Section 18 of the Senate Rules of Procedure Governing Inquiries in Aid of Legislation, adopted via Senate Resolution No. 5 on August 9, 2010, as amended by Senate Resolution No. 145, adopted by the Senate on February 6, 2016, insofar as it punishes as contempt the act of testifying falsely or evasively.

Ong is also asking the Court to declare unconstitutional Section 6, Article 6 of the Rules of the Committee on Accountability of Public Officers and Investigation also known as the Blue Ribbon Committee, adopted on August 14, 2019, insofar as it punishes as contempt the act of testifying falsely or evasively.

As immediate relief, he askedthe Court to issue a status quo ante order (SQA)—reverting to the order of things prior to the committee’s issuance of the contempt, arrest and detention order against him last September 10, 2021 or TRO and/or a writ of preliminary injunction—to enjoin the enforcement of the Senate order.

Ong said the contempt order by the committee and the punishment imposed on him can be considered an encroachment of the power of the judiciary.

He argued that under Section 21, Article VI of the 1987 Constitution, where the power of Congress to conduct inquiries in aid of legislation emanates, mandates “the rights of persons appearing in or affected by such inquiries shall be respected.”

Ong is currently detained at the Senate building in Pasay and has refused to further cooperate with the ongoing probe by the Senate. Joel R. San Juan

the reason behind the exodus is China’s crackdown on online gambling.

“Once the Chinese have start cracking down on that, of course the business will go downhill. It’s not people going out because of our tax regime here. It is because the source of their market is drying up,” he said.

From January to July this year, the finance chief said collection from Pogos has reached P2.05 billion.

In March this year, BIR Deputy Commissioner Arnel SD. Guballa told senators that Pogo tax collections this year could only reach P3.92 billion or 45.37 percent lower than its actual collection of P7.18 billion last year.

Pogo collections in 2019 stood at P6.14 billion and P2.38 billion in 2019 and in 2018, respectively.

Pagcor Chairman and Chief Executive Officer Andrea Domingo earlier told BusinessMirror that more than half or 32

of the original 60 Pogos in the country have already left and most have transferred to other jurisdictions.

Under the Pogo ta x law signed by President Duterte last month, gaming tax revenues collected from Pogos shall be allocated to the following purposes: Universal Health Care Law (60 percent); Health Facilities Enhancement Program (HFEP) of the Department of Health (20 percent); and the achievement of the Sustainable Development Goals (20 percent).

Pagcor or any special economic zone authority or tourism zone authority or free port authority may also impose a regulatory fee on Pogos, which shall not cumulatively exceed 2 percent of gross gaming revenue.

The accredited service providers of Pogos will be subjected to gaming taxes.

Philippine-based Pogos with a license from Pagcor must also pay a 25-percent income tax for non-gaming revenues.

Make New York safe again–DFA exec on Pinay nurse’s death

CONSUL General Elmer Cato comforts the bosom friends and relatives of Maria Luningning Ambrocio at memorial rites in New York. TROI SANTOS

T

HE Philippines’s Consul General in New York has echoed the call for authorities to take “more effective steps” to make the streets of New York safe again for the people following the death of a Filipina nurse there—the latest in a string of assaults against Asians in the city.

“While we know that authorities are doing their best, we hope that they exert more serious efforts and make more resources available to make this happen,” Consul General Elmer Cato said at a memorial mass for Maria Luningning Ambrocio, a much-loved Filipino nurse from New Jersey.

Ambrocio died of severe head injuries after being shoved by a mugger fleeing from the police as she was walking with her friends on Times Square, New York. They had just come from the Consulate General where they attended to some documentation.

Since January, at least nine members of the Filipino Community have been at the receiving end of unprovoked acts of violence that have been reported to or monitored by the Philippine Consulate.

Cato said that most, if not all, those who were behind these

acts of violence are mentally ill and homeless individuals and, according to reports, there are more than 12,000 of them in the streets of New York City.

“Three days ago, Luningning was taken away from us in an unfortunate incident that could have probably been avoided had the streets of New York been made safer. She was taken away from us at a time when violence against members of the Filipino Community and the larger Asian and Pacific Islander Community—whether induced by pandemic-exacerbated xenophobia or by mental illness—remain on the rise,” Cato lamented.

Cato thanked Father Julian Jagudilla and the Franciscan Community for opening the doors of the Church of St. Francis of Assisi and allowing them to pay their final respects “to someone who had been an active member of the Church and the community.”

At the height of the Covid pandemic last year, Cato recalled that Luningning posted a Facebook profile photo wearing scrubs, face mask and face shield with a caption that read: “I cannot stay at home, I am a nurse!”

Continued on A4

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

DAI, YI Marketing Specialist 1.

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

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

SHARMA, MADHUR Senior Manager, Project Management 10.

Brief Job Description: Requires to manage projects for GRPA to drive transformation, effectiveness and optimization.

To work with teams within and outside GRPA globally to ensure the projects are delivered on time with the request results.

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

HUANG, YONG Marketing Specialist 2.

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

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

LAN, JIANBANG Marketing Specialist 3.

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

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

XU, HANG Marketing Specialist 4.

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

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

12.

13.

14.

15.

16.

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

YANG, HAIXIN Marketing Specialist 5.

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

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

17.

18.

Salary Range: Php 30,000 - Php 59,999 19.

24/7 BUSINESS PROCESSING INC. 9/f Capella Bldg., L-3&4 B2, Filinvest, Alabang, City Of Muntinlupa LIAO, XUEKE Mandarin Speaking Customer Service Representative 6.

Brief Job Description: Responding promptly to the inquiries to ensure customer satisfaction

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

AGODA INTERNATIONAL PHILIPPINES CORPORATION Unit 3-4 22/f Zuellig Bldg., Makati Ave. Cor. Paseo De Roxas, Urdaneta, City Of Makati

SHEWAKRAMANI, DIVINA NARAIN Global Partner Development Specialist (Outbound) 7.

Brief Job Description: Contact high growth supply partners to highlight revenue growth opportunities and maximize value

Basic Qualification: Bachelor or equivalent degree preferred; minimum 3 years’ experience working in business development or execution role preferred Salary Range: Php 30,000 - Php 59,999

AMERICAN EXPRESS INTERNATIONAL, INC. 15th, 25th To 30th/f Bonifacio One Technology Tower (e-square Information Technology Park), 3030 Rizal Drive, West Bgc, Fort Bonifacio, City Of Taguig

LINDECK, PETER JEFFERY Director Of Operations, Consumer DGT 8.

Brief Job Description: Oversee all operation team by providing leadership guidance to Team Leads, ensuring surprise-free operations delivery and thereby achieving and exceeding business targets and goals.

20.

9.

Brief Job Description: Provide leadership to approximately 100 colleagues providing real time planning & analytical support to servicing and business leaders

Salary Range: Php 500,000 and above

ERIC CHOO DING SIE Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LI, YUPING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LIANG, ZAODA Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LIU KIEN VUI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries SOE WIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries LIU, YANG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries WEI, CHAOYUAN Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, YONG Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

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

27.

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

28.

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 60,000 - Php 89,999

NGO MINH HANH Mandarin Speaking Marketing Specialist 29.

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

LE DINH NGOC Advisor I, Bilingual 21.

Brief Job Description: Support consumers via phone and email for any Mondelez product concern

30.

Brief Job Description: Assist/help customers, give customers information about products and services KONG, JING Chinese Speaking Data Entry Clerk

23.

Brief Job Description: Assist/help customers, give customers information about products and services ONG KAH WAI Chinese Speaking Data Entry Clerk Brief Job Description: Assist/help customers, give customers information about products and services WEN, CHEN Chinese Speaking Graphic Designer

25.

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

26.

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

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

Brief Job Description: Develop and create marketing materials and collaborate with the internal teams.

Basic Qualification: Expertise in marketing and fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Expertise in marketing and fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999

DAXIFA CORPORATION Mpire Center 93 West Avenue, Project 7, Bungad 1, Quezon City LIN, SHUANGXIONG Mandarin Speaking Customer Service Representative 31.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails.

LIU, JUAN Mandarin Speaking Customer Service Representative

32.

Brief Job Description: Delivering excellent customer service & managing the needs of customer through phone calls and emails.

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers.

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

EASTVANTAGE BUSINESS SOLUTIONS INC. Unit 2400 24/f Fort Legend Tower, 3rd Ave. Cor. 31st St., Fort Bonifacio, City Of Taguig HARMER, FINLAY Support Manager 33.

Brief Job Description: Supervise the maintenance and security of technical services and information within an organization

Basic Qualification: 5 or more years of job experience in information technology Salary Range: Php 60,000 - Php 89,999

FILFLY CONSTRUCTION AND DEVELOPMENT INC. #1295 G. Araneta Ave. Cor., N.s. Amoranto, Sto. Domingo 1, Quezon City VO NHU QUYNH Interpreter - Mandarin Chinese/Filipino Speaking 34.

Brief Job Description: To provide an oral translation between speakers of two languages.

VONG KIM QUANG Interpreter - Mandarin Chinese/Filipino Speaking

Basic Qualification: Knows how to speak Filipino and Chinese mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Filipino and Chinese mandarin.

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

35.

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

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

Brief Job Description: To provide an oral translation between speakers of two languages.

HE, QIN Mandarin Customer Service

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

Basic Qualification: Knowledgeable in managing calls

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

36.

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

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

Brief Job Description: To provide Chinese customer service

ZHANG, SHAOQING District Manager Basic Qualification: High school diploma with three to six months of relevant experience preferred

37.

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

Brief Job Description: Acts as key liaison between the company’s headquarters and assigned area branches. Responsible for management of operational practices, ensure budget and sales goals are achieved, and train and cultivate strong teams of branch managers.

LONG JUN FEI Network Planning Supervisor

CRONYX INC. No. 4th-10th Flr. Yinhope Bldg., Dela Rama Cor. Zoili Hilario St., Seascape Village, Ccp Complex Subd. Zone 10, Barangay 076, District 1, Pasay City FENG, MENGDI Chinese Speaking Data Entry Clerk

Brief Job Description: Develop and create marketing materials and collaborate with the internal teams.

ZHAO, WEICHEN Mandarin Speaking Marketing Specialist

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 60,000 - Php 89,999

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

QUALIFICATION AND SALARY RANGE

DA SUCCESS BUSINESS TRADING INCORPORATED 2503 The Finance Centre, 26th Street Corner 9th Avenue, Fort Bonifacio, City Of Taguig

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION FANG, HUICONG Chinese Speaking Program Designer

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

24.

PRABHAKARAN, GIRISH Director, Global Capacity & Contact Management

Brief Job Description: Managing incoming calls and customer service inquiries

CHOAH JUN KEET IT Support Specialist

Salary Range: Php 500,000 and above Basic Qualification: • 5 +years of combined experience leading large global teams across with bachelor’s degree required/ Master’s degree (preferred) or equivalent combination of education and work experience.

• Proven track record of strong consultative and collaborative Skills to partner with business leaders to devise solutions to complex business challenges.

Basic Qualification: • Minimum 12 months experience in a Senior Manager role.

• Comprehensive understanding of Global Services Group monitoring programs and/or control environment. • Experience driving transformative projects within an operational support group, ideally within the control and monitoring environment.

No.

CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg., Coral Way Drive Cor. Macapagal Ave., Brgy. 076, Pasay City

22.

Basic Qualification: 10-15 years management experience leading large teams of colleagues.

10+ years’ experience working in US Consumer teams including Value Generation and Servicing Is an asset. Experience in managing multi-site servicing operations in different markets,

QUALIFICATION AND SALARY RANGE

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

11.

A11

ESTABLISHMENT / ADDRESS

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

CUN, JINGANG Chinese Customer Service

Wednesday, October 13, 2021

Brief Job Description: Acts as key liaison between the company’s headquarters and assigned area branches. Responsible for management of operational practices, ensure budget and sales goals are achieved, and train and cultivate strong teams of branch managers

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

Basic Qualification: 5-10 years work experience in supervisory position, job-relevant degree, multilingual Salary Range: Php 60,000 - Php 89,999 Basic Qualification: 5-10 years work experience in supervisory position, job-relevant degree, multilingual

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

38.

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

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building, Aseana Avenue Corner Diosdado Macapagal, Tambo, City Of Parañaque

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

39.

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

40.

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

LIU, DONG Customer Service Representative Brief Job Description: Customer Service TRUONG VAN DUNG Customer Service Representative Brief Job Description: Customer Service XU, LIANGHONG Customer Service Representative

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

Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English

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

41.

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

FUWEALTH SERVICES INC. 18/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

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

Brief Job Description: Customer Service

DING, ANCHUAN Customer Service Representative 42.

Brief Job Description: Responsible for managing various customer issues depending on account assignment

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

Basic Qualification: Patience and the ability to remain calm in stressful situation Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A12 Wednesday, October 13, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION FENG, YONGSHENG Customer Service Representative

43.

Brief Job Description: Responsible for managing various customer issues depending on account assignment GONG, CHENGRONG Customer Service Representative

44.

Brief Job Description: Responsible for managing various customer issues depending on account assignment HUANG, WEIMIN Customer Service Representative

45.

Brief Job Description: Responsible for managing various customer issues depending on account assignment SHU, QILI Customer Service Representative

46.

Brief Job Description: Responsible for managing various customer issues depending on account assignment

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Patience and the ability to remain calm in stressful situation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have patience and the ability to remain calm in stressful situation

47.

Brief Job Description: Settings individual’s sales targets with the sales team.

Basic Qualification: Patience and the ability to remain calm in stressful situation Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Patience and the ability to remain calm in stressful situation Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in mandarin language and college graduate.

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

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor, Eight West Campus Mckinley West, Fort Bonifacio, City Of Taguig PARK, JEONGBAE Korean Customer Support Representative 48.

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

FAN, JINFENG Mandarin Customer Support Representative

49.

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

FENG, XIAOMING Mandarin Customer Support Representative

50.

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

GU, NING Mandarin Customer Support Representative

51.

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

HE, MIAO Mandarin Customer Support Representative

52.

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

HU, ZHONGYU Mandarin Customer Support Representative

53.

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

JIA, WEIJIE Mandarin Customer Support Representative

54.

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

LI, LUKUAN Mandarin Customer Support Representative

55.

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

LIANG, JIALUE Mandarin Customer Support Representative

56.

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

WANG, MENG Mandarin Customer Support Representative

57.

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

YE, JIANQIANG Mandarin Customer Support Representative

58.

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

ZHANG, QIANWEN Mandarin Customer Support Representative

59.

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

DAO THI LAN Vietnamese Customer Support Representative 60.

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

HY PHU KHANG Vietnamese Customer Support Representative 61.

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

62.

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

Brief Job Description: Expertise in branding and promoting pharmaceutical products

TRAN NGOC TUAN Marketing Consultant 63.

Brief Job Description: Create and manage product in conjunction with marketing strategies to marketing consultant

CHO, JUNG GI Strategic And Facilitation Officer 64.

65.

Brief Job Description: Your primary function is to help the company and it’s Chinese clients to generate more income for the company

VEERASAMY, SUDHAKAR Commissioning Manager Brief Job Description: Responsible for commissioning projects on site

JEONG, HYEONJIN Customer Service Representative 66.

Brief Job Description: Customer service representative to manage customer queries and complaints.

MENEGUELI VIDAL, RICARDO Team Leader

67.

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

Brief Job Description: Manage the team’s workload and ensure timely and accurate delivery of tender offers while at the same time keeping a balance on overtime hours; Own Tender accounts E2E and have knowledge in length and breadth of the account being handled; Ambassador for a Cluster towards the GSC organization and vice versa, helping address cross-functional/cross-process issues and continuous improvement

YE, BAINING Sales Manager 68.

Basic Qualification: Solid experience in renewable energy industry particularly solar power energy Salary Range: Php 150,000 - Php 499,999

Basic Qualification: College graduate with experience in the related position, fluent in English and Korean Hangeul.

Brief Job Description: To lead a sales team by providing guidance, training, and mentorship, setting sales quotas, creating sales plan, analyzing data, assigning sales territories and building their team

ANDY YEOH KEONG YONG Head Of Global Markets/VP/treasurer 69.

Basic Qualification: Bachelor’s Degree holder. Minimum 6 years relevant experience in Customer Service, Tender, Sales and Performance Management Experience in handling Customer Service transactions/processes and dealing with direct customers preferred; Good verbal and written English skills for co-ordination with Shipper, warehouse, carriers, end customers.

Ability to work under pressure - with high sense of urgency; Detail oriented ability to perform processes as per pre-defined design.

With strong Customer Service Mindset

Basic Qualification: Fluent in Mandarin, Preferably graduate in China and knowledgeable in Chinese corporation Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Strategize, develop and build the treasury business and capabilities to meet customer needs and group vision and be a significant revenue contributor to MPI global markets and Maybank international

Basic Qualification: Previous experience as Head of Global Markets.

Must be appointed by the company.

HSIEH, CHUAN-TENG Assistant Vice President 70.

Brief Job Description: Assist in the supervision of general affairs & it and accounting division

Basic Qualification: College graduate; preferably with more than 5yrs of managerial experience in bank industry; can speak, write and proficient in computer in Mandarin language

CHEN, HAN-YUN Assistant Vice President (Home Country Compliance) 71.

Brief Job Description: Assist the compliance officer on the compliance of the home country laws and regulations

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

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

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

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

72.

73.

74.

LI, JIE Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

75.

LIN, TING-TING Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

IPCA PHILIPPINES REPRESENTATIVE OFFICE U-1811 Cityland 10 Tower Ii, 154 H.v Dela Costa St., Bel-air, City Of Makati

JANE NG ZHI XUAN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

CHEN, YUN Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

80.

76.

PEI, XIANLEI Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

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

YI, JIWU Mandarin Speaking Customer Relations Service Provider

MACUMBER, MARTIN WALTER JAMES Head Of Operations - Apac 81.

Brief Job Description: To be responsible for operations of teams across Asia Pacific Region

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

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

Basic Qualification: Experience creating reports and working with team leasers and managers to share insights.

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

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

82.

83.

84.

85.

86.

87.

88.

89.

90.

91.

92.

93.

94.

CAI, XINWEI Customer Service Representative Brief Job Description: Customer service CHEN, JINMEI Customer Service Representative Brief Job Description: Customer service CHEN, MINGCHI Customer Service Representative Brief Job Description: Customer Service JIANG, CHUNWU Customer Service Representative Brief Job Description: Customer service LAN, YU Customer Service Representative Brief Job Description: Customer service LI, CHANGYU Customer Service Representative Brief Job Description: Customer service NIE, BINGQUAN Customer Service Representative Brief Job Description: Customer Service WANG, YOUCHENG Customer Service Representative Brief Job Description: Customer service WU, ZHAOYANG Customer Service Representative Brief Job Description: Customer service YANG, JIAMIN Customer Service Representative Brief Job Description: Customer Service YANG, YUNMING Customer Service Representative Brief Job Description: Customer service ZHANG, QIXIAN Customer Service Representative Brief Job Description: Customer Service ZHOU, XIANGSAN Customer Service Representative Brief Job Description: Customer Service

Basic Qualification: College graduate/level and fluent in Mandarin/basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level and fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

MONEYCAT FINANCING INC. Unit 1701 Tycoon Centre Bldg., Pearl Drive,ortigas Center, San Antonio, City Of Pasig Basic Qualification: VOLKOVA, OLGA Bachelor’s degree and good Business & Development Head Officer Sr Officer background in financing company 95.

Brief Job Description: Handle overall process/execution of BD Department Salary Range: Php 150,000 - Php 499,999 NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., Quirino Ave., Tambo, City Of Parañaque

96.

GAO, JIAWEN Chinese Customer Service Brief Job Description: Customer support and data base services

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

QUALIFICATION AND SALARY RANGE

MEMO MULTINATIONAL CORP. 19th Floor Marco Polo Ortigas, Sapphire Road, Ortigas Center, San Antonio, City Of Pasig

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

WU, QIU Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: College graduate; preferably with more than 5yrs of managerial experience in bank industry; can speak, write and proficient in computer in Mandarin language

THOMAS HWANG KEE FOO Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

Salary Range: Php 500,000 and above

MEGA INTERNATIONAL COMMERCIAL BANK CO. LTD. 3 Pacific Star Bldg., Sen. Gil J. Puyat Ave. Cor. Makati Ave., Bel-air, City Of Makati

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

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

79.

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

MAYBANK PHILIPPINES, INCORPORATED Maybank Corporate Centre, 7th Ave. Cor. 28th St. Bonifacio High Street Central Bgc, Fort Bonifacio, City Of Taguig

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

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

TANG, SIYA Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

MAIDEHAO TRADING, CORP. Level 10-1 Fort Legend Tower, 3rd Ave. And 31st St., Bgc, Fort Bonifacio, City Of Taguig

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

78.

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

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

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

Basic Qualification: Must be fluent in Chinese language

MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 5-8 North Wing, Estancia Offices, Capitol Commons Meralco Ave., Oranbo, City Of Pasig

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Responsible for handling service support calls

Basic Qualification: At least graduate speak and write fluently (Vietnamese & English)

LERIB SERVICES CORPORATION U-3d Rose Industries Bldg., Choice Market Ortigas, Kapitolyo, City Of Pasig

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

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

77.

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

JUWI PHILIPPINES, INC. Unit No.c Flr. No.4 One E-com Center Bldg., Ocean Drive St. Mall Of Asia Subd., Zone 10, Barangay 076, District 1, Pasay City

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

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

Basic Qualification: 12-15 years of experience of pharma selling with at least 2 years exposure in international pharma business

No.

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House, Magallanes St., 069, Bgy. 655, Intramuros, City Of Manila

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

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

QUALIFICATION AND SALARY RANGE

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

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PANDAKKAL CHANDRAN, SARISH Country Manager

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

HIKVISION SINGAPORE PTE. LTD. PHILIPPINES BRANCH 37th/f Joy Nostalg Center, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig HUANG, ZHIXIANG Sales Manager

No.

www.businessmirror.com.ph

97.

JIANG, ZUO Chinese Customer Service Brief Job Description: Customer support and data base services

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

98.

99.

100.

101.

102.

103.

104.

105.

106.

107.

108.

109.

110.

111.

112.

113.

114.

115.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LAN, LU Chinese Customer Service Brief Job Description: Customer support and data base services

LI, YONGJIA Chinese Customer Service Brief Job Description: Customer support and data base services

LIU, ZHENGJUN Chinese Customer Service Brief Job Description: Customer support and data base services

LUO, YAN Chinese Customer Service Brief Job Description: Customer support and data base services

MAO, AIYING Chinese Customer Service Brief Job Description: Customer support and data base services

PEI, ZHI Chinese Customer Service Brief Job Description: Customer support and data base services

TANG, XIAOLONG Chinese Customer Service Brief Job Description: Customer support and data base services

XIAO, JIANKUN Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, XIAOHAO Chinese Customer Service Brief Job Description: Customer support and data base services

ZHOU, CHENG Chinese Customer Service Brief Job Description: Customer support and data base services

LEE SHENG KOK Malaysian Customer Service Brief Job Description: Customer support and data base services

NG CHIEW KHUAN Malaysian Customer Service Brief Job Description: Customer support and data base services

THAN THAN AYE Myanmari Customer Service Brief Job Description: Customer support and data base services

NIM PHAN PHONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM THI THU HA Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHUNG LE BINH Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN THI LAN HUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

UNG A LIN Vietnamese Customer Service Brief Job Description: Customer support and data base services

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

No.

ANDERSON, JOSEPH WILLIAM VP, Site Lead 117.

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

BUNNIK, EDUARD CORNELIS APJ Region Delivery Lead SIOP 118.

116.

Brief Job Description: Prepares general ledger entries by maintaining records and files; reconciling

QUALIFICATION AND SALARY RANGE Basic Qualification: Extensive experience in leading global teams, including services groups in the Philippine Office.

Brief Job Description: Region delivery leader for fixed networks site implementation outside plants projects in the Asia pacific region.

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

YANG, SHENGZHI Mandarin Speaking Finance Team Leader 119.

Brief Job Description: Comply with all the finance & legal requirements, responsibility and obligations.

Basic Qualification: Preferably with 3-5years experience and should be mandarin & English speaking Salary Range: Php 30,000 - Php 59,999

120.

LIN, HSIN-I a.k.a. VINCENT LIN Project Manager Brief Job Description: Monitor project progress and set deadlines

LEKSKUL, NUTTAMON Treasurer

LIU, CHUANHAI Mandarin Technical Support 122.

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

123.

124.

125.

126.

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

127.

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

128.

129.

130.

131.

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

133.

NICE INCONTACT PHILIPPINES, INC. 17th Floor Twenty-five Seven Mckinley, 25th St. Cor 7th Ave. Bgc, Fort Bonifacio, City Of Taguig

Brief Job Description: Maintain the operation of electronic device

Brief Job Description: Manage delivery resources, allocate engineers and subcontracting teams, and handle problems during site acquisition

Brief Job Description: Take charge of the power introduction in D2&D3 in Northern Luzon, develop regional delivery plans, monitor regional delivery progress, achieve progress targets, and improve customer satisfaction

Brief Job Description: Join the communication, align the work plan and progress, attend routine meeting

Brief Job Description: Manage the underlying resources, operation and service performance of logistic suppliers to ensure the service quality of logistic suppliers. Develop and improved risk control measures, manage business risk and advance, handle exceptions in a timely manner, and ensure smooth fulfillment of logistic service.

134.

135.

HE, YUN Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints JIANG, CHUNXIAO Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints LIN, ZHIHENG Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints LIU, LEI Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints LIU, LIQING Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints LIU, QINGBO Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

Brief Job Description: Deal with and help resolve customer complaints WANG, XIN Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints YANG, SHUHUI Chinese Language-customer Service Staff Brief Job Description: Deal with and help resolve customer complaints

Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Mandarin language, college degree

LU, JUN Project Manager

XUSHENG TECHNOLOGY CORP. Flr. No. 1-5 Bldg., No. 0050 F.b. Harrison St. Cor. Williams And Roberts St., Zone 4, Barangay 013, District 1, Pasay City

Basic Qualification: Accounting or finance bachelors degree

141.

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 vacancy/college graduate with experience in maintain gaming devices, fluent in Mandarin and english speaking

142.

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

Basic Qualification: To provide consulting technical and advisory services

143.

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

144.

Basic Qualification: To provide consulting Technical and advisory services.

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

Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk PENG, XIANG Mandarin Speaking Technical Support

145.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk SUN, MINGSHEN Mandarin Speaking Technical Support

146.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk WANG, CHAO Mandarin Speaking Technical Support

147.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk YE, CHAO Mandarin Speaking Technical Support

148.

Brief Job Description: Deals with hardware and application support queries and issues reported to the YU, DAQIANG Mandarin Speaking Technical Support

149.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk ZHANG, SIYU Mandarin Speaking Technical Support

150.

Brief Job Description: Deals with hardware and application support queries and issues reported to the ZHENG, XIAOFENG Mandarin Speaking Technical Support

151.

Basic Qualification: To provide consulting Technical and advisory services.

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

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk LIANG, QIHU Mandarin Speaking Technical Support

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: To provide consulting technical and advisory services

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk LI, XIUJU Mandarin Speaking Technical Support

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 300 vacancy/college graduate with experience in maintain gaming devices, fluent in Mandarin and English speaking

Brief Job Description: Deals with hardware and application support queries and issues reported to the LEI, HAN Mandarin Speaking Technical Support

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

Basic Qualification: 300 vacancy/college graduate with experience in maintain gaming devices, fluent in Mandarin and English speaking

Brief Job Description: Plan and develop project idea

CHEN, BINGZHI Mandarin Speaking Technical Support

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk ZHOU, HAO Mandarin Speaking Technical Support

152.

Brief Job Description: Deals with hardware and application support queries and issues reported to the support desk

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

Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin speaking Salary Range: Php 30,000 - Php 59,999

YT GREEN AIRE CORP. Unit 405, 591 Fabricare Bldg., Alabang Zapote Rd., Almanza Uno, City Of Las Piñas YEOH HUI JIAN Director And Technical Consultant 153.

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

132.

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

KYAW SHWIN KITE IT Specialist

AN, ZHIGUO Supply Chain Project Manager

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

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

Brief Job Description: Maintain the operation of electronic device

GONG, ZILIANG Site Design Team Lead

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

YANG, XIAO Chinese IT Specialist

WANG, SHUAI Regional Project Manager

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

Brief Job Description: Maintain the operation of electronic device

MA, QIANG Project Manager

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

GUO, SHIHAO Chinese IT Specialist

WANG, KE Chinese Language-customer Service Staff

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

XIDIAN ENERGY CONSTRUCTION CORP. Unit 1207 The Trade And Financial Tower, 32nd St. Cor. 7th Avenue, Fort Bonifacio, City Of Taguig

VOLENDAY INC. U1406 14/f Pacific Star Bldg., Sen. Gil Puyat Cor. Makati Ave., Bel-air, City Of Makati

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

Brief Job Description: Monitoring and maintaining computer systems and networks

Brief Job Description: Deal with and help resolve customer complaints

Basic Qualification: Excellent in Chinese language

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

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St., 072, Bgy. 669, Ermita, City Of Manila

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

Brief Job Description: Cash management, accounting recording.

WANG, JIALE Chinese Language-customer Service Staff

QUALIFICATION AND SALARY RANGE

140.

SCG INTERNATIONAL (PHILIPPINES) CORPORATION Unit 903 9th Floor Legend Towers, 3rd Avenue Corner 31st Street Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

139.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: Proficient in speaking Taiwanese or Mandarin

SOLIDLEISURE SOLUTIONS INC. Unit 2602-d & 2603-a West Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig

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

138.

RHODIUM 688 BUILDERS, INC. No. 59, West Capitol Drive, Kapitolyo, City Of Pasig

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

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

137.

Basic Qualification: Bachelor’s degree, excellent communication skills & technical expertise.

121.

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

136.

Salary Range: Php 500,000 and above

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

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

No.

QNECT INC. Unit 2105 The Finance Centre, 26th St. Corner 9th Avenue, Fort Bonifacio, City Of Taguig

NEWBAY INTERNATIONAL TECHNOLOGY INC. 2/f Mezzanine Tower 1, The Enterprise Center, 6766 Ayala Ave. Cor. Paseo De Roxas, City Of Makati QIU, YUANGUANG Mandarin Accounts Staff

Brief Job Description: Responsible for operational excellence for the nice in contact Philippines center as a leading provider of technology solutions.

A13

ESTABLISHMENT / ADDRESS

NOKIA SOLUTIONS AND NETWORKS PHILIPPINES, INC. 18/f The Curve Bldg., 32nd St. Cor. 3rd Ave., Fort Bonifacio, City Of Taguig

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, October 13, 2021

Brief Job Description: Director of YT green Aire Corp. And technical consultant that will render advice, assistance, guidance and information on matters concerning optimization of the capacity and efficiency of mechanical and & cleanroom equipment.

Basic Qualification: Graduate of bachelor’s degree in mechanical engineer and must have outstanding Salary Range: Php 30,000 - Php 59,999

ZIMI TECH, INC. 29th/f Burgundy Corporate Tower, Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati JIMMY Bahasa Language Customer Service Representative 154.

Brief Job Description: Professionally handle incoming request from customers and ensure that issues are resolve both promptly and thoroughly.

Basic Qualification: Proficient in writing, reading and speaking in both English/Korean/ Bahasa/Chinese.

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Oct 12, 2021

Basic Qualification: Excellent in Chinese language

In the ad material of Notice of Filing of Application for Alien Employment Permits published on October 02, 2021, the name of HARUKA, WATANABE under FAIR CONSULTING GROUP PHILIPPINES, INC., should have been read as WATANABE, HARUKA and not as published.

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

In the ad material of Notice of Filing of Application for Alien Employment Permits published on October 06, 2021, the name of LI, CONGJUN a.k.a. EH7022726 under MOA CLOUDZONE CORP., should have been read as LI, CONGJUN and not as published.

Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Chinese language

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Chinese language Salary Range: Php 30,000 - Php 59,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Editor: Jennifer A. Ng

Companies BusinessMirror

Wednesday, October 13, 2021

B1

Medilines maiden offering, Sta. Lucia FOO get nod

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of medical equipment distributor Medilines Distributors Inc. and the follow-on offering (FOO) of property developer Sta. Lucia Land Inc. Medilines will offer to the public up to 550 million in primary common shares priced up to P2.45 each, plus a secondary offering comprising of up to 275 million shares to be sold by the company’s chairman, Virgilio B. Villar.

The shares will be listed and traded on the main board of the

Philippine Stock Exchange Inc. (PSE).

The company expects to net P1.28 billion from the sale of the primary shares. It will not receive proceeds from the sale of shares by the selling shareholder, which could amount to P641.2 million.

Proceeds from the offer will

be used to finance the company’s working capital to acquire existing products and the build-up of its medical consumables inventory, as well as to repay debt.

The IPO will run from November 11 to 17, in time for the company’s debut on the PSE on November 25, based on the latest timetable submitted to the SEC. The company engaged PNB Capital and Investment Corp. as its sole issue manager, lead underwriter, and sole bookrunner for the offer.

Medilines is a distributor of medical equipment to both public and private health-care facilities in the Philippines. Its portfolio, which includes equipment from multinational medical device companies, primarily caters to specialized medicine, including diagnostic imaging, dialysis and cancer therapy.

Sta. Lucia Land, meanwhile, will offer to the public up to 2.5

billion common shares at an offer price ranging from P2.38 to P3.29 per share, with an oversubscription option of up to 500 million common shares. The shares will be listed and traded on the main board of the PSE. The company, a developer in the second- and third-tier cities of the country, will use proceeds that could reach as much as P9.55 billion for capital expenditures of new and ongoing projects, payment of short-term debt, strategic land banking, and general corporate purposes.

The follow-on offering will run from November 10 to 19, with the shares to be listed on the PSE on November 26, according to the latest timetable submitted to the SEC. Sta. Lucia Land tapped China Bank Capital Corp. as the sole issue manager, lead underwriter, and sole bookrunner for the offer.

DMCI declares highest dividend payout E

ngineering conglomerate DMCI Holdings Inc. has declared the highest dividend payout in its corporate history after its board approved the company’s declaration of special cash dividends.

In its special meeting, the DMCI board approved P6.37 billion in special cash dividends. The amount is on top of the P6.37 billion in regular and special cash dividends paid out by the company in April.

It declared a dividend of P0.48 per common share out of the unrestricted retained earnings of the company as of October 12.

With this additional special cash dividend, DMCI Holdings will end the year with P12.75 billion in total dividend payments, which represent 194 percent of the company’s consolidated core net income in 2020.

The 194-percent dividend payout ratio is the highest in the history of DMCI Holdings whose dividend policy commits to at least 25 percent of the preceding year’s consolidated core net income.

DMCI shareholders on record as of

October 26 are entitled to a special cash dividend of P0.48 per share. Payment will be made on November 10.

The company’s total annual dividend of P0.96 reflects a cash dividend yield of nearly 12 percent based on its October 11 closing price of P8.10.

DMCI shares closed at P8.84 apiece on Tuesday, up by P0.74 from its previous close.

Meanwhile, the company also promoted Cherubim O. Mojica to senior vice president for corporate communications and investor relations from her previous post as vice president and corporate communications head.

DMCI said it recorded a consolidated net income of P9.5 billion in the first half, nearly five times the P2 billion it reported last year. The company said it is on track to hitting its annual pre-pandemic income.

The sharp increase was due to the rebound of its subsidiaries, Semirara Mining and Power Corp. (SMPC), DMCI Homes and DMCI Mining.

Consolidated core net income surged threefold to P8.3 billion from

P2.6 billion a year ago. The figure includes a nonrecurring gain of P1.2 billion this year relative to the remeasurement of deferred tax liabilities as a result of the Corporate Recovery and Tax Incentives for Enterprises Act and P586-million net loss mainly from sales cancellations for a real estate project last year.

“Coal and nickel prices were rallying while our production was ramping up so our second quarter was even better than our first quarter. Revenue recognition in our real estate business also improved on higher productivity,” DMCI Chairman and President Isidro A. Consunji said.

For the second quarter alone, the company recognized consolidated net earnings of P5.2 billion, up by three times from the previous P1.4 billion.

Excluding nonrecurring items, core net income grew by 166 percent to P4.2 billion from P1.6 billion.

SMPC dividend

SMPC on Tuesday declared a special cash dividend amounting to P7.4 billion.

Its board approved the special cash dividend, which is on top of the P5.3 billion in regular cash dividends paid out last April.

“With this additional special cash dividend, the total dividend payout of SMPC to its shareholders for 2021 will be P12.7 billion, the highest in its history,” it said in a statement.

Shareholders on record as of October 25 this year are entitled to a special cash dividend of P1.75 per share, the highest amount ever declared by the company. Ex-dividend date will be on October 20 while payment will be made on November 9.

The company’s total annual dividend of P3 per share translates to a cash dividend yield of almost 12 percent based on its October 11 closing price of P25.45.

The Consunji-led SMPC is the only vertically-integrated power producer in the country that mines its own fuel.

The largest domestic coal producer, it supplies affordable fuel to power plants, cement factories and other industrial facilities across the Philippines.VG Cabuag, Lenie Lectura

Petron lists ₧18-B fixed-rate bonds on PDEx

P

etron Corp., the country’s largest oil company, on Tuesday listed its P18-billion fixedrate, peso denominated bonds on the Philippine Dealing and Exchange Corp. (PDEx).

The amount represents the first tranche of the company’s shelf registration of P50-billion fixed-rate bonds approved by the Securities and Exchange Commission (SEC).

The issue, Petron’s third PDEx listing, was nearly thrice oversubscribed.

“We’re particularly proud of the reception from our retail investors, signifying their confidence in Petron

and our future as a company. Despite some of the challenges we still face, we continue to pursue our strategic goals, and ensure that we deliver long-term growth for the company.

We are motivated to work harder in sustaining our leadership, knowing that we remain a viable and trusted investment option,” said Petron President and CEO Ramon Ang. The P18-billion fixed-rate bonds consist of Series E Bonds—P9 billion maturing in 2025 with an interest rate of 3.4408 percent per annum— and Series F Bonds—P9 billion maturing in 2027 with an interest rate of 4.3368 percent per annum.

Proceeds from this fundraising exercise will be used primarily for the redemption of Petron’s outstanding Series A Bonds due in October this year, payment of existing indebtedness, and partial payment of the power plant project.

The country’s lone oil refiner is building a new power plant in Limay, Bataan to increase the capacity of its exis ing 140-MW power plant to 184MW. It is expected to be completed and operational in the second half of 2022 after testing, synchronization, and pre-commissioning activities.

PhilRatings assigned Petron’s issue with its highest credit rating of

PRS Aaa. Obligations rated PRS Aaa are of the highest quality with minimal credit risk.

Petron partnered w ith BDO Capital & Investment Corporation as sole issue manager, as well as with its joint lead bookrunners and joint lead underwriters BDO Capital & Investment Corp., China Bank Capital Corp., Philippine Commercial Capital, Inc., PNB Capital and Investment Corp., and SB Capital Investment Corp. First Metro Investment Corp., Land Bank of the Philippines, and RCBC Capital Corp. are co-lead underwriters for Petron’s latest offer. Lenie Lectura

Converge unit offers digital solutions to businesses

C

onverge ICT Solutions Inc. unveiled on Tuesday its enterprise arm, Converge Business, capitalizing on the growing demand for digital solutions for businesses of varying sizes.

Jesus Romero, the company’s COO, said Converge Business will be the umbrella brand for all “business connectivity, data transport, and other ICT solutions, enables small and medium enterprises, as well as conglomerates and large enterprises to thrive and progress forward.”

“The pandemic has revealed the

vulnerability of businesses, especially those who do not have digitally-enabled models. Seeing this, we at Converge knew we needed to be more innovative, progressive, and aggressive in the B2B [business to business] segment as we want to continuously equip the Filipino businesses to be competitive in their respective industries,” he said.

Converge is banking on the increasing appetite from enterprises and even entrepreneurs to digitalize their processes. It will offer connectivity solutions such as flexible Internet solutions as

well as dedicated internet access and cloud products.

For his part, Converge CEO Dennis Anthony Uy said Converge will offer a “differentiated customer experience” for its clients, citing the company’s in-house capabilities for network engineering, installation, sales, and customer support.

“As the lifeline of many during this pandemic, we want to help the hundreds of thriving businesses in the Philippines to embrace digitalization and its benefits. Converge Business is here to provide enterprises with superior, relevant, and

impactful ICT solutions that will drive great results for every business segment. We want to empower individuals and businesses to become more agile to stand above in these unprecedented times,” he said.

In March, the company announced that it has set a P20-billion capital program for the year, a 25-percent increase from its P16 billion capital spend in 2020. The amount, Uy said, will be used for network development and expansion, as Converge targets to reach more areas in the Visayas and Mindanao this year. Lorenz S. Marasigan

CEB delivers over 20M vaccine doses across PHL

C

ebu Pacific (CEB) has transported more than 20 million Covid-19 vaccine doses across the country since March this year, marking another milestone in its delivery efforts.

Over the past week, CEB airlifted vaccine doses to 15 provinces namely: Bohol, Butuan, Cagayan de Oro, Cebu, Dipolog, Dumaguete, Iloilo, Kalibo, Masbate, Pagadian, Puerto Princesa, Roxas, Siargao, Tuguegarao, and Virac.

CEB has also carried Covid-19 vaccines to 12 other destinations throughout the past months, specifically: Ba-

colod, Boracay, Cauayan, Cotabato, Davao, General Santos, Legazpi, Ozamiz, San Jose, Tacloban, Tawi-Tawi, and Zamboanga “We are aware that vaccination is a key factor for economic recovery, that is why we want to keep on contributing to the safe and timely delivery of vaccines across the Philippines,” said Alex Reyes, Chief Strategy Officer at Cebu Pacific.

All vaccines were subject to the most stringent procedures to guarantee potency and efficacy until its arrival at the designated stations.

B2

Companies BusinessMirror

Wednesday, October 13, 2021

Synergy Grid secures SEC approval for follow-on offer

S

By Lenie Lectura

@llectura

ynergy Grid & Development Phils. Inc. (SGP), which indirectly owns a majority stake in the National Grid Corporation of the Philippines (NGCP), received the go-ahead of the Securities and Exchange Commission (SEC) to proceed with its P1.15billion follow-on public offering.

The publicly-listed firm said Tuesday that it received the SEC’s approval last October 7. The price offer range is anywhere from P15 to P25 per share.

“The Securities and Exchange Commission favorably considered the Registration Statement filed by the company covering the registration of securities of up to P1,154,500,000 common shares with a par value of P1 per share to be offered to the public, at an offer price of P15 up to P25 per offer share.”

The shares will be listed and traded on the Philippine Stock Exchange (PSE).

Under NGCP’s franchise, NGCP

can undertake public listing or in substitution submit proof of the listing of any company that owns or controls at least 30 percent of NGCP’s outstanding capital stock. This can be done through a share swap transaction and follow-on offering of 20 percent of SGP shares.

NGCP is partly owned by Monte Oro Grid Resources Corporation (MOGRC) and Calaca High Power Corporation (CHPC), with each company owning 30 percent plus one in the issued shares of NGCP. In turn, OneTaipan Holdings Inc. and Pacifica21 Holdings Inc. own 100 percent of MOGRC and CHPC. Henry Sy Jr. owns 67 percent of

OneTaipan while Robert Coyuito Jr. owns 65 percent of Pacifica21.

The shares of stocks of Sy and Coyuito in the two firms will be swapped with shares from SGP, which may lead to MOGRC and CHPC becoming indirect subsidiaries of SGP and the latter gaining indirect control of NGCP. SGP will now own shares in OneTaipan and Pacifica21, which are shareholders in MOGRC and CHPC, which, in turn, collectively own more than 60 percent of NGCP shares, thereby creating some form of indirect control of SGP in NGCP. NGCP has informed the Energy Regulatory Commission that the share swap transactions have been completed. It would only have to make a public offering of its shares, through a follow-on offering of up to 20 percent of its shares, to meet the minimum public offering requirement under SEC rules for SGP to remain a listed company.

In view of the share swap transaction, NGCP sought clarification from the ERC if its decision does not prohibit other mode of compliance, such as the listing of any company in the PSE which owns or controls at least 30 percent of the outstanding capital stock of NGCP, which can be achieved through a backdoor listing.

The ERC has yet to issue a decision.

Damaged transmission lines

Meanwhile, the NGCP said Tuesday that six transmission lines in Northern Luzon were damaged by typhoon “Maring”.

These are the Lal-lo-Sta. Ana 69kV Line, Bacnotan-Bulala 69kV Line, Bauang-San Fabian 69kV Line, Tuguegarao-Magapit 69kV Line, San Esteban-Bangued 69kV Line, and Labrador-Bolinao 69kV Line.

The NGCP has mobilized its line crews and is currently conducting patrols to inspect and assess the impact of the severe tropical storm to its operations and facilities, and simultaneous restoration activities are being conducted on the areas already accessible. “The loss of power may be caused by affected transmission facilities of NGCP or distribution facilities of local distribution utilities or electric cooperatives (ECs). Specific cities and municipalities affected by the power interruptions are determined by concerned distribution utilities, unless the outage affects the entire franchise area,” it said.

The National Electrification Administration said 34 ECs were affected by the tropical storm in Regions 1, 2, 3, Cordillera Administrative Region, and Region 4-A.

Public, private sector leaders to attend Bloomberg forum

A

s Bloomberg New Economy builds toward its fourth annual f lagship Bloomberg New Economy Forum,

November 16-19, it announced on Tuesday updates to the program, participants and impact initiatives led by its delegate community—approximately 300 public and private sector leaders from around the world.

“The global economic challenges deepened by the pandemic bring a special level of urgency to this year’s New Economy Forum,” said Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies. “The transition from COP26 to the Forum three weeks later gives us a unique window of opportunity—and we plan to seize it, by working together to accelerate our recovery in ways that build a stronger, healthier and sustainable economy.”

mutual funds

October 12, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

227.82

16.86%

-1.02%

-2.78%

0.27%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6534

55.26%

6.98%

3.55%

25.93%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1534

19.55%

-4.79%

-5.67%

0.65%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7472 11.81%

-4.05% n.a.

-8.07%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7885 17.06%

0.65% n.a.

6.32%

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

2.12%

-0.73%

3.88%

17.2%

-0.25%

-4.64%

5.1331

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

22.77% 0.7645

99.13

16.86%

PAMI Equity Index Fund, Inc. -a

46.8166

19.75%

-3.69% n.a.

0.88%

-1.39%

Philam Strategic Growth Fund, Inc. -a

489.68

16.64%

0.96%

-1.91%

0.15%

Philequity Alpha One Fund, Inc. -a,d

1.1361

25.7% n.a. n.a.

3.54%

Philequity Dividend Yield Fund, Inc. -a 1.27

26.92%

2.43%

0.05%

8.71%

Philequity Fund, Inc. -a

35.7154

21.89%

1.29%

-0.36%

2.72%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9154

18.78% n.a. n.a.

0.26%

Philequity PSE Index Fund Inc. -a

4.8206

20.73%

0.61%

Philippine Stock Index Fund Corp. -a

804.81

20.56%

1.72%

-0.74%

0.4%

Soldivo Strategic Growth Fund, Inc. -a

0.7326

20.41%

-2.71%

-3.87%

1.91%

20.73%

-0.77%

-1.96%

2.26%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7059

1.71%

-0.68%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9186 20.13%

1.36%

-0.92%

0.1%

United Fund, Inc. -a

1.14%

-0.09%

1.78%

1.86%

-0.26%

3.3776

20.58%

-1.53%

-2.69% -0.05%

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

108.1499

20.7%

0.55%

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

$1.1546

6.96%

7.19%

4.69%

-4.02%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7822

15.33%

12.93%

11.22%

6.54%

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

1.6833

9.4%

2.08%

-1.07%

0.88%

ATRAM Philippine Balanced Fund, Inc. -a

2.2292

9.64%

1.74%

-0.96%

-2.46%

First Metro Save and Learn Balanced Fund Inc. -a 2.68

12.47%

3.79%

0.74%

2.02%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1994 NCM Mutual Fund of the Phils., Inc. -a

10.35% n.a. n.a.

1.9907

8.76%

PAMI Horizon Fund, Inc. -a

3.7339

8.36%

Philam Fund, Inc. -a

16.7105

8.5%

Solidaritas Fund, Inc. -a

2.0933

10.02%

1.84%

-0.01%

0.11%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6172 11.82%

1.2%

-0.73%

1.23%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9854

5.91% n.a. n.a.

-3.64%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9261

12.25% n.a. n.a.

-2.43%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9153

14.3% n.a. n.a.

-1.91%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9235

16.43%

4.01%

1.17%

1.2%

3.73%

-0.15%

-1.48%

3.57%

-0.12%

-1.35%

1.3%

-0.85%

0.66%

4.03%

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

$0.03743

-4.15%

2.68%

0.85%

-4.27%

PAMI Asia Balanced Fund, Inc. -b

$1.0644

0.71%

4.08%

2.53%

-5.81%

11.4%

9.57%

7.89%

3.99%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2038 4.66%

5.4%

4.04%

0.13%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.693

Bond Funds Primarily invested in Peso securities

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

October 12, 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 PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

45.9 127.2 84.65 23.85 9.5 49.6 17.44 21.2 55.6 19.6 115.6 87.2 0.9 4.27 0.59 3.21 1.12 0.315 0.65 217 2,550

46.1 127.3 84.7 23.95 9.55 49.65 18 21.3 56.45 19.88 116 88.45 1.1 4.28 0.64 3.25 1.14 0.34 0.66 218 2,580

46 126.9 84.1 24 9.35 49.1 18 21.5 56.45 19 118 86.5 0.9 4.29 0.59 3.21 1.12 0.315 0.66 219 2,550

46.4 129.4 84.9 24 9.62 50 18 21.55 56.45 19.88 118.6 90 0.9 4.32 0.59 3.21 1.12 0.315 0.66 219 2,550

43.4 126 83.8 23.9 9.35 48.7 18 21.15 56 19 115.1 86.5 0.9 4.27 0.59 3.18 1.12 0.315 0.66 217 2,550

45.9 127.2 84.7 23.9 9.55 49.6 18 21.2 56.45 19.88 115.6 87.2 0.9 4.28 0.59 3.21 1.12 0.315 0.66 217 2,550

25,800 1,792,730 1,901,370 96,800 1,325,700 7,998,500 200 504,800 130 153,500 274,010 223,240 18,000 62,000 6,000 397,000 36,000 30,000 30,000 5,540 180

1,184,075 228,159,216 160,775,894 2,318,160 12,658,218 397,611,890 3,600 10,795,015 7,293.50 3,000,416 31,974,770 19,843,932 16,200 265,540 3,540 1,270,030 40,320 9,450 19,800 1,207,816 459,000

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM BOGO MEDELLIN CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MAXS GROUP MG HLDG MONDE NISSIN SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

12.9 1.13 30.7 0.58 29.55 75.2 291 25.55 3.64 4.11 11.5 21.65 13.48 15 4.8 2.78 61.05 14 25.65 15.36 7.98 18.28 76 0.62 1.33 117.1 217.6 28 7.03 0.18 17.7 8.19 0.77 4.61 1.26 0.117 133.3 0.76 1.31 14.38 6.8 6.19 6.63 14.36 0.91 1.15 144.5 1.68 1.61 5.46 22.2 2.29 8.59 0.83 5.9 1.14 4.31

12.92 1.14 30.75 0.59 29.7 77 291.6 25.6 3.65 4.12 11.66 21.7 13.5 18.48 4.96 2.82 70 14.2 25.9 15.38 8 18.36 76.4 0.65 1.34 117.5 217.8 29.7 7.04 0.181 17.72 8.2 0.79 4.65 1.28 0.118 133.4 0.77 1.32 14.4 6.83 6.21 6.64 14.68 0.93 1.16 199.5 1.7 1.65 5.47 22.95 2.3 8.6 0.85 5.94 1.16 4.33

12.86 1.12 30.6 0.61 30.5 75.4 293 25.1 3.6 4.1 11.46 21.9 14 15.02 4.72 2.8 61.05 14.38 26.35 15.7 8 18.34 76.45 0.61 1.33 118.7 210 29.75 6.65 0.178 18.96 8.01 0.79 4.65 1.26 0.114 136 0.77 1.32 14.46 7 6.31 6.57 14.7 0.91 1.14 144.5 1.68 1.68 5.41 23 2.2 8.45 0.83 5.93 1.14 4.31

12.96 1.13 31.25 0.61 30.6 77 296 25.7 3.68 4.12 11.7 22 14 15.02 4.99 2.84 61.05 14.38 26.9 15.7 8.04 18.48 76.45 0.61 1.35 119 219 29.75 7.15 0.181 18.96 8.2 0.81 4.65 1.26 0.119 136 0.77 1.33 14.48 7 6.35 6.74 14.7 0.92 1.17 144.5 1.68 1.68 5.46 23 2.3 8.69 0.85 5.96 1.15 4.35

12.76 1.11 30.6 0.57 29.55 75.15 290.8 24.5 3.59 4.1 11.46 21.5 13.5 15 4.65 2.78 61.05 14 25.5 15.22 7.94 18.1 75.9 0.61 1.32 116.5 210 28 6.6 0.178 17.62 8.01 0.77 4.61 1.26 0.114 133.1 0.76 1.31 14.34 6.83 6.19 6.5 14.34 0.91 1.14 144.5 1.68 1.6 5.41 23 2.2 8.35 0.83 5.93 1.14 4.3

12.92 1.13 30.7 0.58 29.55 77 291.6 25.6 3.65 4.12 11.5 21.7 13.5 15 4.96 2.82 61.05 14 25.65 15.38 8 18.28 76 0.61 1.34 117.5 217.8 28 7.04 0.18 17.7 8.19 0.77 4.61 1.26 0.118 133.4 0.77 1.32 14.38 6.83 6.19 6.64 14.68 0.91 1.15 144.5 1.68 1.65 5.46 23 2.3 8.59 0.85 5.94 1.14 4.31

21,346,500 272,000 1,924,600 20,405,000 1,967,100 14,670 187,810 4,516,200 4,717,000 169,000 13,800 377,700 641,200 1,600 110,000 135,000 30 7,100 1,582,100 150,000 5,464,900 1,827,200 70,270 86,000 8,180,000 47,120 1,404,780 500 1,291,200 1,830,000 49,869,000 77,300 2,948,000 5,000 3,000 1,960,000 588,580 345,000 2,621,000 10,200 621,600 1,354,400 2,004,200 7,100 111,000 1,271,000 20 15,000 135,000 5,800 13,000 1,517,000 558,800 48,000 20,000 77,000 1,680,000

936,305 111,810,317 10,833,306 -1,072,960 -24,494 283,117,080 -97,340 5,600 -234,858 -2,931,091.50 433,500

274,630,270 306,170 59,619,980 11,978,950 58,656,515 1,110,357 54,846,154 113,821,700 17,104,450 693,960 159,256 8,245,205 8,755,740 24,012 522,680 378,930 1,831.50 99,858 40,767,385 2,297,110 43,684,110 33,377,888 5,339,821 52,460 10,889,090 5,539,816 304,025,554 14,350 8,929,298 329,450 899,977,816 624,210 2,285,850 23,170 3,780 227,320 78,863,686 265,360 3,453,770 147,176 4,258,240 8,450,441 13,282,713 102,420 101,040 1,461,070 2,890 25,200 217,890 31,393 299,000 3,447,390 4,770,047 40,630 119,010 88,040 7,254,550

99,015,124 2,881,425 49,190 -14,327,445 3,661,972 3,973,730 -2,030,340 2,569,340.00 116,700 187,770 -10,190,200 1,542 -29,400,308 -2,942,832 -2,460,309.50 74,730 1,262,423 105,464,364 760,081 -17,800 -385,234,432 -8,080 -389,250 -39,400,852 -95,760 -3,848,856 -591,457 -1,127,069 49,800 -299,000 17,100 211,190.00

HOLDING & FRIMS ABACORE CAPITAL 1.07 1.08 1.1 1.1 1.06 1.08 6,072,000 6,527,340 5.5 5.67 5.67 5.67 5.67 5.67 2,500 14,175 ASIABEST GROUP AYALA CORP 818 820 820 823.5 816.5 820 119,120 97,636,710 ABOITIZ EQUITY 46.95 47.35 47.75 48.4 46.95 46.95 1,548,800 73,511,220 10.3 10.32 10.5 10.56 10.3 10.3 6,961,100 72,308,944 ALLIANCE GLOBAL 5.8 5.84 5.78 5.98 5.71 5.8 2,284,700 13,359,660 AYALA LAND LOG ANSCOR 6.95 7.09 7.14 7.14 7.1 7.1 500 3,562 0.92 0.93 0.92 0.93 0.92 0.92 394,000 362,880 ANGLO PHIL HLDG 0.485 0.53 0.5 0.54 0.5 0.53 120,000 63,400 ATN HLDG A 0.49 0.51 0.51 0.51 0.51 0.51 20,000 10,200 ATN HLDG B COSCO CAPITAL 5.1 5.14 5.1 5.15 5.1 5.1 2,762,400 14,147,281 DMCI HLDG 8.7 8.84 8.27 8.84 8.27 8.84 42,687,700 368,442,136 7.8 7.85 7.63 7.85 7.63 7.85 155,200 1,195,352 FILINVEST DEV FJ PRINCE A 2.14 2.79 2.8 2.8 2.8 2.8 2,000 5,600 0.305 0.31 0.305 0.305 0.305 0.305 250,000 76,250 FORUM PACIFIC 552 554 545 561 543.5 554 389,980 215,839,800 GT CAPITAL 62.1 62.5 62.5 63 62.05 62.1 793,480 49,513,023.50 JG SUMMIT JOLLIVILLE HLDG 5.31 5.45 5.45 5.45 5.45 5.45 2,000 10,900 0.65 0.67 0.62 0.68 0.62 0.67 90,000 59,860 LODESTAR 3.17 3.25 3.3 3.3 3.25 3.25 17,000 55,350 LOPEZ HLDG 9.68 9.7 9.7 9.94 9.63 9.7 10,318,100 101,196,931 LT GROUP METRO PAC INV 3.8 3.81 3.72 3.85 3.72 3.81 10,435,000 39,626,250 PRIME MEDIA 1.48 1.49 1.5 1.5 1.47 1.48 173,000 256,290 2.6 2.78 2.78 2.78 2.78 2.78 2,000 5,560 REPUBLIC GLASS 1.16 1.2 1.2 1.2 1.2 1.2 22,000 26,400 SOLID GROUP SM INVESTMENTS 999 999.5 986.5 1,005 986.5 999 83,720 83,644,500 114 115.9 115.4 115.9 114 115.9 97,020 11,192,213 SAN MIGUEL CORP 2.01 2.15 2.02 2.02 2.02 2.02 4,000 8,080 SEAFRONT RES TOP FRONTIER 130 133.9 130 130 130 130 210 27,300 0.185 0.192 0.185 0.185 0.185 0.185 140,000 25,900 ZEUS HLDG

2,288,140 -980,015 8,626,250 -12,257,584 -920,989 8,104,550.00 111,568,783 -773,000 -8,818,670 5,617,683 16,250 21,427,426 4,362,950 182,040 32,619,117.50 -203,026 -8,080 9,250

PROPERTY ARTHALAND CORP 0.62 0.64 0.62 0.62 0.62 0.62 77,000 47,740 7 7.11 7.1 7.1 7.1 7.1 1,400 9,940 ANCHOR LAND AYALA LAND 35.9 35.95 36.05 36.5 35.5 35.95 11,271,100 405,450,650 ARANETA PROP 1.05 1.09 1.05 1.06 1.05 1.05 60,000 63,200 39.95 40 40 40 39.9 40 750,100 29,996,845 AREIT RT 1.35 1.37 1.37 1.38 1.34 1.34 101,000 138,790 BELLE CORP A BROWN 0.86 0.88 0.89 0.9 0.87 0.88 136,000 119,120 CITYLAND DEVT 0.77 0.79 0.78 0.79 0.77 0.79 237,000 184,890 0.117 0.12 0.123 0.123 0.116 0.12 81,250,000 9,426,540 CROWN EQUITIES 6.2 6.38 6.2 6.38 6.2 6.38 600 3,810 CEBU HLDG CEB LANDMASTERS 3 3.02 2.96 3.03 2.96 3.02 2,373,000 7,124,660 CENTURY PROP 0.445 0.46 0.455 0.465 0.44 0.46 23,300,000 10,547,200 10.26 10.4 10.32 10.4 10.24 10.26 190,500 1,961,766 DOUBLEDRAGON DDMP RT 1.87 1.88 1.87 1.89 1.87 1.88 10,643,000 19,928,180 DM WENCESLAO 6.85 6.9 6.9 6.9 6.85 6.85 87,900 604,960 0.275 0.28 0.275 0.28 0.275 0.275 60,000 16,550 EMPIRE EAST 0.33 0.335 0.335 0.335 0.325 0.335 4,670,000 1,545,250 EVER GOTESCO FILINVEST RT 7.34 7.35 7.32 7.4 7.3 7.35 3,950,900 29,065,466 FILINVEST LAND 1.1 1.11 1.1 1.11 1.1 1.1 4,036,000 4,443,380 0.91 0.92 0.89 0.92 0.89 0.92 337,000 302,530 GLOBAL ESTATE 10.42 10.5 10.5 10.96 10.42 10.5 828,200 8,739,060 8990 HLDG PHIL INFRADEV 1.15 1.18 1.15 1.18 1.15 1.18 997,000 1,152,920 CITY AND LAND 0.94 0.97 0.96 0.96 0.95 0.95 191,000 182,560 3.04 3.05 3.06 3.11 3.04 3.05 22,178,000 68,092,160 MEGAWORLD 0.29 0.295 0.295 0.295 0.29 0.29 4,290,000 1,248,500 MRC ALLIED MREIT RT 17.74 17.8 17.68 17.82 17.62 17.8 3,411,300 60,654,806 0.51 0.52 0.5 0.52 0.495 0.52 1,084,000 547,120 PHIL ESTATES 1.8 1.88 1.83 1.88 1.79 1.8 528,000 980,980 PRIMEX CORP RL COMM RT 6.75 6.82 6.9 6.96 6.75 6.75 11,459,600 78,414,638 ROBINSONS LAND 16.22 16.3 16.5 16.5 16.2 16.3 1,789,400 29,203,446 0.25 0.255 0.242 0.25 0.236 0.25 6,530,000 1,626,900 PHIL REALTY 1.54 1.55 1.55 1.55 1.55 1.55 538,000 833,900 ROCKWELL SHANG PROP 2.66 2.67 2.66 2.67 2.66 2.67 33,000 87,870 2.77 2.88 2.9 2.91 2.8 2.88 528,000 1,514,050 STA LUCIA LAND 35.35 35.4 35 35.35 34.6 35.35 7,996,000 281,185,725 SM PRIME HLDG 3.67 3.8 3.75 3.8 3.71 3.8 12,000 44,730 VISTAMALLS SUNTRUST HOME 1.47 1.48 1.48 1.48 1.47 1.48 156,000 230,090 VISTA LAND 3.59 3.6 3.6 3.62 3.55 3.59 1,163,000 4,181,670

SERVICES ABS CBN 15.94 15.96 16.24 16.4 15.96 15.96 912,000 14,770,138 15.5 15.6 15.8 16.28 15.2 15.5 3,431,400 54,101,148 GMA NETWORK MANILA BULLETIN 0.405 0.415 0.415 0.415 0.415 0.415 130,000 53,950 9 10.5 8.21 9 7.52 9 1,900 16,334 MLA BRDCASTING 3,130 3,150 3,070 3,170 3,054 3,150 98,990 310,226,280 GLOBE TELECOM 1,620 1,635 1,666 1,675 1,620 1,620 258,555 421,861,615 PLDT APOLLO GLOBAL 0.102 0.103 0.105 0.105 0.101 0.102 157,610,000 16,234,490 CONVERGE 34.9 34.95 36 36.5 34.65 34.95 20,272,300 716,715,780 3.12 3.15 3.15 3.23 3.1 3.12 218,000 683,600 DFNN INC 7.6 7.61 7.52 7.72 7.52 7.6 6,274,600 47,843,417 DITO CME HLDG IMPERIAL 1.42 1.5 1.42 1.42 1.42 1.42 1,000 1,420 1.95 2 2 2 2 2 1,000 2,000 JACKSTONES 1.93 1.94 1.87 1.94 1.87 1.94 2,704,000 5,174,430 NOW CORP TRANSPACIFIC BR 0.35 0.355 0.355 0.36 0.35 0.355 970,000 343,150 PHILWEB 2.3 2.33 2.4 2.4 2.29 2.34 312,000 727,360 8.1 8.12 8.05 8.12 8.05 8.12 11,300 91,172 2GO GROUP 14.1 14.5 14.5 14.5 14.5 14.5 1,700 24,650 ASIAN TERMINALS CHELSEA 2.16 2.17 2.18 2.19 2.17 2.17 670,000 1,460,290 41.85 41.9 40.85 41.95 40.85 41.85 703,200 29,182,180 CEBU AIR 177.5 178.6 185 186.6 177.1 178.6 2,687,720 483,845,338 INTL CONTAINER 18 18.3 18 18.2 17.22 18 15,400 278,610 LBC EXPRESS LORENZO SHIPPNG 0.91 0.95 0.91 0.91 0.91 0.91 2,000 1,820 5.34 5.35 5 5.35 5 5.34 3,935,300 20,682,870 MACROASIA 1.42 1.48 1.42 1.49 1.42 1.42 43,000 61,130 METROALLIANCE A 1.6 1.77 1.62 1.62 1.62 1.62 2,000 3,240 METROALLIANCE B HARBOR STAR 1.03 1.04 1.02 1.05 1.02 1.04 31,000 32,230 1.48 1.54 1.48 1.54 1.48 1.54 61,000 93,340 ACESITE HOTEL 0.068 0.069 0.071 0.072 0.067 0.068 205,170,000 14,192,100 BOULEVARD HLDG DISCOVERY WORLD 2.32 2.33 2.36 2.43 2.31 2.33 422,000 998,180 GRAND PLAZA 11 12.82 11 11 11 11 300 3,300 0.52 0.53 0.52 0.52 0.52 0.52 474,000 246,480 WATERFRONT 550 599 555 555 555 555 200 111,000 FAR EASTERN U IPEOPLE 6.81 6.99 6.81 6.99 6.81 6.99 5,600 38,244 0.36 0.365 0.365 0.365 0.36 0.365 2,140,000 780,600 STI HLDG 5.53 5.69 5.54 5.74 5.53 5.7 25,200 139,784 BERJAYA 5.95 5.98 6.3 6.35 5.95 5.95 5,339,100 32,826,730 BLOOMBERRY PACIFIC ONLINE 1.99 2.02 2.02 2.02 2 2 15,000 30,220 LEISURE AND RES 1.63 1.68 1.69 1.69 1.63 1.63 394,000 650,350 1.7 1.8 1.8 1.81 1.8 1.8 81,000 146,300 MANILA JOCKEY PH RESORTS GRP 1.09 1.1 1.09 1.13 1.05 1.1 1,769,000 1,922,640 PREMIUM LEISURE 0.415 0.425 0.415 0.425 0.415 0.42 9,780,000 4,096,650 9.97 9.99 10 10.14 9.9 9.97 1,293,100 12,951,154 ALLHOME 1.38 1.39 1.38 1.39 1.36 1.39 821,000 1,137,910 METRO RETAIL PUREGOLD 42.45 42.5 43 43.1 42.4 42.45 1,109,700 47,210,980 ROBINSONS RTL 59.9 60 60 61 59.65 60 1,456,260 87,613,908 89 89.5 89.8 89.8 89 89.8 348,940 31,055,890 PHIL SEVEN CORP 1.19 1.2 1.23 1.23 1.19 1.2 4,312,000 5,215,050 SSI GROUP WILCON DEPOT 28.6 28.65 31 31.4 28.3 28.65 29,725,300 870,167,155 APC GROUP 0.265 0.27 0.275 0.275 0.27 0.27 50,000 13,600 4.7 4.9 4.8 4.8 4.8 4.8 1,000 4,800 EASYCALL 528.5 539.5 525.5 535 525.5 535 650 347,465 GOLDEN MV IPM HLDG 7.03 7.1 7.02 7.02 7.02 7.02 500 3,510 2.08 2.39 2.08 2.25 2.08 2.25 2,000 4,330 PAXYS 0.9 0.91 0.86 0.9 0.86 0.9 16,180,000 14,236,050 PRMIERE HORIZON

MINING & OIL

14,260 15,970,315 14,654,480 -40,010.00 10,440 72,540 -1,367,100 175,600 241,696 -97,690 0 50,000 -10,520,991 -162,800 2,614,100 -730,510.00 19,000 -13,535,570 -52,200 -33,420,356 -15,000 -16,510 -17,970,370 -1,903,644 36,050 -830,800 15,546,085 14,800 823,830 13,178,290 -41,236,940 610,850 39,485,080 128,090 7,193,641 87,280 -3,600 -50,990 59,695 -1,659,580 -72,917,439 1,693,142 -95,390.00 9,600 401,000 -4,875,404 20,200 80,560 136,800 199,200 5,144,960 1,680 -12,577,160 39,713,783 5,340 718,170 -256,308,970 -5,500 -107,000 2,142,810

ATOK 6.85 6.98 6.98 7 6.7 6.99 117,200 816,500 APEX MINING 1.4 1.41 1.4 1.41 1.4 1.41 639,000 898,480 260,400 ATLAS MINING 6.02 6.05 6.05 6.05 6.02 6.02 437,500 2,639,762 123,387 5.1 5.43 5.18 5.48 5.05 5.43 139,400 727,461 BENGUET A Cocolife Fixed Income Fund, Inc. -a

3.2421 1.2% 3.3% 4.13% 0.83% 4.77 5.2 4.74 4.74 4.74 4.74 3,000 14,220 BENGUET B COAL ASIA HLDG 0.3 0.305 0.285 0.305 0.28 0.305 2,860,000 858,800 Ekklesia Mutual Fund Inc. -a 2.2506 -1.93% 2.07% 1.26% -2.08% 2.7 2.78 2.7 2.78 2.7 2.78 3,000 8,260 8,260 CENTURY PEAK First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4256 -1% 3.11% 1.71% -1.13% 5.74 5.75 5.75 5.76 5.74 5.75 14,400 82,780 DIZON MINES 2.09 2.1 2.11 2.11 2.08 2.1 1,357,000 2,847,830 390,560 FERRONICKEL Philam Bond Fund, Inc. -a 4.436 -4.58% 5.42% 1.23% -4.19% GEOGRACE 0.217 0.22 0.216 0.22 0.216 0.22 270,000 59,000 15,240 LEPANTO A 0.13 0.132 0.13 0.132 0.13 0.132 3,170,000 415,160 Philam Managed Income Fund, Inc. -a 1.3168 0.32% 4% 2.61% -0.34% 0.133 0.135 0.133 0.135 0.133 0.133 780,000 104,150 LEPANTO B Philequity Peso Bond Fund, Inc. -a

3.9698 0.32% 4.74% 2.21% -0.78% MANILA MINING A 0.0094 0.0095 0.0094 0.0095 0.0094 0.0095 17,000,000 160,000 0.0096 0.01 0.0096 0.0096 0.0096 0.0096 1,000,000,000 9,600,000 MANILA MINING B Soldivo Bond Fund, Inc. -a 1.0235 -1.41% 5.44% 1.52% -1.92% 0.86 0.88 0.88 0.9 0.86 0.86 1,635,000 1,428,850 27,030 MARCVENTURES 1.03 1.04 1.02 1.06 1.02 1.03 331,000 341,820 52,390 NIHAO Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1929 0.35% 5.08% 2.65% -0.41% NICKEL ASIA 5.51 5.53 5.5 5.6 5.46 5.53 3,890,400 21,466,655 145,104 Sun Life Prosperity GS Fund, Inc. -a 1.7359 -0.5% 4.3% 1.93% -1.09% ORNTL PENINSULA 0.82 0.83 0.83 0.84 0.82 0.82 619,000 508,290 5 5.06 5.07 5.1 5 5 565,400 2,831,307 256,428 PX MINING Primarily invested in foreign currency securities 28 28.05 26.5 28.35 26.4 28 15,699,100 429,685,330 65,582,990 SEMIRARA MINING UNITED PARAGON 0.0067 0.0069 0.0066 0.007 0.0066 0.0069 55,000,000 376,000 ALFM Dollar Bond Fund, Inc. -a $487.66 1.6% 3.05% 2.15% 0.75% 17.1 17.18 17.28 17.28 17 17.18 48,100 824,388 ACE ENEXOR ALFM Euro Bond Fund, Inc. -a Є219.89 1.13% 1.05% 0.78% 0.31% 0.01 0.011 0.012 0.012 0.01 0.011 316,500,000 3,196,900 ORNTL PETROL A 0.0097 0.0099 0.0098 0.0098 0.0098 0.0098 69,000,000 676,200 PHILODRILL ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1835 -4.65% 1.85% 0.98% -7.52% PXP ENERGY 6.12 6.21 6.13 6.28 6.12 6.12 666,100 4,117,288 155,560

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 -2.64% 1.33% 0.63% -3.01% PREFFERED PAMI Global Bond Fund, Inc -b $1.0162 -6.57% -0.25% -1.59% -6.77% HOUSE PREF B 100.3 101.2 100 100 100 100 10,000 1,000,000 101 102 102 102 102 102 10,070 1,027,140 HOUSE PREF A Philam Dollar Bond Fund, Inc. -a $2.4542 -2.09% 4.79% 1.61% -3.38% ALCO PREF B 101.5 102.6 102.6 102.6 102.6 102.6 90 9,234 Philequity Dollar Income Fund Inc. -a $0.0627012 1.68% 3.31% 2.02% 0.64% 524.5 525 524.5 524.5 524.5 524.5 1,550 812,975 AC PREF B2R 41.25 41.3 41.55 41.75 41.3 41.3 33,300 1,378,695 CEB PREF Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1019 -2.81% 2.55% 0.41% -3.78% 104 105 104 104 104 104 500 52,000 CPG PREF A DD PREF 101.3 102 102 102 101.5 101.5 10,300 1,045,600 Money Market Funds 1,030 1,035 1,030 1,030 1,030 1,030 10 10,300 -10,300 GTCAP PREF B Primarily invested in Peso securities 100.5 101.4 101.4 101.4 101.4 101.4 550 55,770 MWIDE PREF 106.4 107.6 106.5 107.6 106.5 107.6 12,400 1,320,710 PNX PREF 3B ALFM Money Market Fund, Inc. -a 130.8 1.22% 2.95% 2.54% 0.75% PNX PREF 4 1,006 1,009 1,006 1,009 1,006 1,009 2,115 2,127,735 1,123 1,135 1,125 1,125 1,123 1,123 1,050 1,179,290 PCOR PREF 3A First Metro Save and Learn Money Market Fund, Inc. -a 1.0558 0.99% n.a. n.a.

0.73% 1,170 1,179 1,170 1,180 1,170 1,180 345 404,100 PCOR PREF 3B 1.54% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3112 2.72% 2.55% 1.1% SMC PREF 2F 79.1 79.3 79.25 79.25 79.05 79.05 50,000 3,954,813 1,344,640.50 SMC PREF 2I 79.1 79.35 79.05 79.35 79.05 79.35 23,920 1,893,407 Primarily invested in foreign currency securities 76.5 76.9 76.9 76.9 76.9 76.9 300 23,070 23,070 SMC PREF 2J 76.5 76.6 76.5 76.5 76.5 76.5 768,090 58,758,885 - SMC PREF 2K Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.059 0.87% 1.54% n.a.

0.51%

Feeder Funds PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 15.4 15.5 15.4 15.5 15.4 15.4 60,600 938,090 Primarily invested in Peso securities 14.64 14.68 14.98 14.98 14.62 14.64 84,300 1,239,040 35,136 GMA HLDG PDR

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3253 28.95% n.a. n.a.

17.32% WARRANTS Primarily invested in foreign currency securities TECH WARRANT 1.44 1.45 1.45 1.45 1.41 1.44 861,000 1,232,770 ALFM Global Multi-Asset Income Fund Inc. -a,d $0.97 2.11% n.a. n.a.

-1.02% SMALL & MEDIUM ENTERPRISES 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).

ALTUS PROP 16.92 17 16.98 17 16.9 17 61,000 1,036,660 1.84 1.89 1.85 1.88 1.84 1.85 243,000 449,500 ITALPINAS

MERRYMART 3.65 3.66 3.7 3.7 3.65 3.66 3,947,000 14,489,980 103,780 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

EXHANGE TRADE FUNDS

"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 FIRST METRO ETF 108 108.2 108.1 108.3 107.3 108 11,600 1,253,333 69,926 ALFM Peso Bond Fund, Inc. -a

372.74

1.13%

2.97%

2.41%

0.44%

ATRAM Corporate Bond Fund, Inc. -a

1.9266

-1.3%

1.22%

0.17%

1.38%

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

Entrepreneur

De Lima bill boosts MSME support amid contagion

O

pposition Sen. Leila M. de Lima filed a measure seeking to boost entrepreneurship by strengthening, empowering and improving the financing and other support programs for micro, small and medium enterprises (MSMEs).

De Lima filed Senate Bill (SB) 2400 that seeks to amend Republic Act 6977, amended, otherwise known as the “Magna Carta for MSMEs” to help MSMEs in the Philippines to recover from the adverse effects of the pandemic.

“MSMEs are very vulnerable to external shocks in the economy.

This has been witnessed and proven in the wake of the Covid-19 pandemic. The health crisis severely affected MSMEs as it took a huge toll on their revenues due to economic uncertainties,” she said.

“The lack of industry-specific laws and policies contribute too much of the challenges they have to endure. With the industry lacking the support that they need, they are left alone to battle it out,” she added.

Based on the report of United Nations Development Programme Philippines, MSMEs employ approximately 63 percent of the work force in the Philippines, accounting for 99.5 percent of all business establishments.

In terms of MSMEs’ exports contribution, MSMEs account for 25 percent of the country’s total exports revenue and an estimate of 60 percent of all exporters in the country belong to the MSME sector. Likewise, MSMEs are responsible for 40 percent of the Philippine gross domestic product (GDP).

The Asian Development Bank (ADB) claimed that MSMEs are indeed the backbone of Asian economies, especially in the Philippines, and considered as its driving force to economic development.

However, despite their key role in the Philippine economy, de Lima lamented that MSMEs remain stagnant in terms of growth

and development as they receive inadequate government support, especially in times of economic uncertainty.

“The pandemic has been an additional impediment to MSME growth and development in the Philippines alongside the struggle to face the lingering non-financial [cost of getting electricity, heavy regulation, high tax rates, and corruption] and financial barriers [access to finance] of MSMEs in the country,” she said.

“In this regard, now is not the time to shirk our obligation to come to the aid of Filipinos who belong to this important sector who are now at the brink of closures and breakdowns,” she added.

Under SB 2400, the national government, its bureaus, offices and agencies shall allocate at least 10 percent of all its procurement opportunities for goods and services to eligible MSMEs. Moreover, duly registered MSMEs shall be entitled to a discount of at least 20 percent on shipping and delivery fees for their products and raw materials, as well as for mailing, freight and other similar services provided by either public or private couriers.

Aside from covering financial support, de Lima pointed out that SB 2400 also provides support and benefits for equally important aspects of MSME developments, such as training and information services.

“It also encourages private enterprises to provide incentives to investments and create an economic atmosphere of assistance and collaboration,” de Lima said.

“Ang MSMEs na subok nang nagdadala ng kabuhayan at benepisyo sa Pilipino ang mga negosyong dapat suportahan at payabungin ng gobyerno. Hindi yung binabayaran lang ng utang na loob kahit kaduda-duda ang serbisyo, nandaraya at nananamantala pa sa gitna ng pandemya,” she added.

Entreps laud Shopee program to promote e-commerce skills

A

S consumer behavior shifts, brands and retailers turn to online platforms to support and promote their businesses. As a result, many new online sellers need the proper guidance and e-commerce knowledge during the transition to maximize the industry’s potential.

Leading e-commerce platform Shopee successfully concluded its second Shopee University Summit, with the support of Vivo, PULUZ, CameraHaus, Human Nature Manila Branch, WM Shop, and Design Center of the Philippines.

During the event, participants learned about developing the correct business branding, product photography skills, and leveraging Shopee tools and social-media platforms to promote their businesses.

“Shopee is proud of its successful second Shopee University Summit that aims to equip entrepreneurs with the right tools and knowledge to thrive in the e-commerce industry.

As the digital landscape continues to evolve, Shopee ensures that sellers and entrepreneurs alike are ready to face the challenges and overcome these with confidence,” Martin Yu, director at Shopee Philippines, said.

Majority of brands and micro, small, and medium enterprises said they were able to adapt to the current retail landscape challenges. Shopee and brands like Human Nature and PULUZ shared the best e-commerce marketing practices to support small businesses to recover and thrive in the competitive digital space.

Jillian Co, branch operator at Human Nature Manila, said Shopee helped them overcome the chal-

lenges to remain open for business.

“Being on Shopee also opened many growth opportunities and enabled us to continue to thrive. Its user-friendly platform and available marketing tools were convenient for the business to promote and sell our products. As the e-commerce industry rapidly expands and attracts many consumers, its impact will have a long-lasting mark and will change the industry.”

Carmella Peña, brand manager at PULUZ Philippines said the partnership with Shopee enabled them to grow their business through its support and different tools in the Marketing Center such as Shopee Feed and Shopee Live.

“We can promote our products to attract more buyers. Shopee helped us reach a wider audience to share about our brand; we achieved almost 30,000 views on livestream in a month, something we couldn’t have achieved before on our own.

We will continue to maximize the positive changes in the e-commerce landscape as we step up our business,” she explained Robenson T. Ong Lo, vice president at CameraHaus, pointed out that Shopee helped them to “be a friend to all Filipino photographers by bridging us to photographers in different parts of the country.”

“With Shopee, we ensure photographers buy legitimate and brand new cameras with a warranty included. It also gave us access to widen our market range and reach people through the power of online convenience. Truly we are grateful for this digital platform.” Rizal Raoul S. Reyes

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, October 13, 2021 B3

Pandemic ‘VENTURE’

Enterprising couple revives moribund grilled ‘bangus’ biz Roderick L. Abad

Contributor

S

@rodrik_28

UCCESS in business does not always come in an instant. The socalled beginner’s luck may work for some, but most of successful entrepreneurs have had a share of failure before they became “big time.”

Mr. Dagupeño, a fast-rising bangus or milkfish takeout kiosk in the country, is no exemption. It actually came from an abandoned idea of Eric Montoya 12 years ago.

Always wanting to throw her hat into the business world, Katherine, who was newly wedded to him in 2016, left the corporate world. Fortunately, she found out one day a business plan that his husband wrote and executed with his childhood friends in 2009.

Using their savings of P150,000 as a capital, she put up their first store along Sumulong highway, in Barangay Mambugan, Antipolo City on December 3, 2016. Timely to the Holiday Season, Mr. Dagupeño was well received by the public as shown in its good sales. The first few months of operation was well handled by Katherine herself that it paved the way for the second outlet at Circumferential Road (now E. Rodriguez Road) in July 2017. In between her pregnancy, they welcomed their third branch in what is known as Siete Medya in Antipolo City in April 2018.

“So, then, we keep getting inquiries on franchising. Because of this, I joined the company,” Eric said of his decision to quit his job as a sales manager in Ayala Life, which is now BPI-Philam Life Assurance.

‘Inihaw’ with a twist

GOING out-of-the-box has been always in the DNA of Mr. Dagupeño.

Aside from the traditional tomato and onions as toppings, the store caters grilled milkfish in a more unique and delectable presentation.

“In terms of food items, our difference is our Inihaw na Boneless na Bangus [Grilled Boneless Milkfish] has a twist,” he boasted of their other variants of toppings, namely, ala pobre, bistek, gata, cheese and chimi churri. “We have the intention to always innovate. With the help of our chef consultant, we always explore different ways to present the inihaw.”

To excite more the palate of customers with a variety of offerings,

Mr. Dagupeño also sells other delicious milkfish delicacies: Relleno Bangus, Grilled Liempo and Grilled Pusit. It also offers frozen goods, such as Daing na Bangus, Tinapang Bangus, Lumpiang Bangus, Alaminos Longganisa, Chicken Embotido,

Photo shows the “classic” grilled bangus dish being sold regularly Mr. Dagupeño franchise kiosks.

This, eventually, cushioned the possible grave impact of the health crisis on Mr. Dagupeño.

Unlike other enterprises that were greatly affected by the Covid-19, Eric conceded that their sales have decreased only by 20 percent compared during the pre-pandemic period. In fact, he said that they have maintained their monthly sales volume of 1,000 bangus per branch.

One of the franchise kiosks of Mr. Dagupeño in Rizal province. and other products from Pangasinan.

“Because Dagupan [first class independent component city of the province] is the home of best-tasting bangus, we want to become the ‘authority’, or at least the ‘go to brand’ if you like to have different ways of cooking the bangus,” said the chief executive officer.

Pandemic-free business

MR. Dagupeño’s tenacity has been shown not only by the good reception of the brand amid competition, but also when the Covid-19 hit globally.

According to Eric, he noticed that with the “new normal” during the pandemic, wherein operations of most businesses were restricted due to strict health and safety protocols, restaurants operating in the malls were highly affected. “[Thanks to a] ‘stroke of luck’ that our stores are in the communities,” he said of the location of their outlets that enables them to still continue to operate despite the government-imposed lockdowns. “There’s no challenge in terms of social distancing.”

The Montoyas, likewise, have proven that “with some tweaking of the features of the business, it became more suited to the pandemic.”

Aggressive franchising

FROM the very beginning, the husband-and-wife tandem has intended Mr. Dagupeño to be a preferred “counter for takeout” of grilled milkfish. Because apparently it continues to survive the test of the present times, the owners aim to propagate the brand further despite the ensuing pandemic.

“That gives us the confidence to offer it to other people through franchising,” Eric said, while citing that they have been doing this since the last quarter of 2019 prior to the health crisis. “This year, that’s when we really went into aggressive mode in terms of franchising.”

Venturing into Mr. Dagupenõs never fails the franchisees expectations, per the Pangasinan native entrepreneur. He attributed this mainly to the high success rate due to the store’s business model and strong brand. Eric noted that a franchisee can recoup his investment in a short span of six months up to one year.

He based this on their experience when they opened their first three company-owned outlets at least every six months, respectively.

At present, Mr. Dagupeño has 11 franchised stores and one through

a joint venture. Four more branches will open soon. The couple is currently franchising their business at a rate of P350,000. “We want to help those who want to franchise this as their option this pandemic,” the CEO said.

Thinking big

FOR five years that they have been in the takeout kiosk trade, the Montoyas believe that they have already mastered their business.

Complemented by their “constant innovation” in terms of offerings and continuous expansion, they revealed that this is their “recipe to stay afloat” in the middle of a health crisis.

To leverage on the holiday rush, Mr. Dagupeño will introduce some improvements on their food items like Pinaputok na Bangus and Cheesy Baked Bangus. Before December, it will also start to sell solo meals or rice bowls.

Managing their own microbusiness, the owners aim to build their own commissary and seek to strengthen their partnership with small-scale suppliers in Dagupan who have been continuously delivering the milkfish to them since the lockdowns. “Moving forward— because of that angle of our experience—we’ve also decided to stick with [our partner]microbusinesses to work with them,” Eric said.

The top executive is bullish that they will have a total of 20 stores by end of 2021, around 50 branches in 2022, and 100 branches in 2023. “[Given the pandemic,] it doesn’t stop us from thinking big and planning to put up more stores. We’re still setting really high targets for this year and the next years to come,” he stressed.

Mr. Dagupeño is now present in different towns and cities of Rizal (Antipolo and Cainta), Metro Manila (Quezon City, Pasig and Valenzuela), Cavite (Imus and Dasmariñas), and Bulacan.

Firm pushes tech-driven screening of employees for SME employers

By Rizal Raoul S. Reyes @brownindio Contributor

V

eremark, the global pre-employment screening service company that helps employers verify employee credentials, seeks to push the deployment of its cutting-edge solutions to the local small and medium enterprise (SME) market.

Jeremiah Chow, head of sales for Asia Pacific of Veremark told the BusinessMirror that the technology-driven company wants to help the local small and medium enterprises (SMEs) hurdle the challenges, especially during this time of the pandemic. “Veremark is designed to help companies of all sizes.

SMEs can easily sign up and order the different background checks they need without any difficulty or long-term commitment,” Chow said.

“We know SMEs are already inundated with many priorities but want to make sure they hire the right people for

their companies through background checks, and as such have specifically built our product to make it easier and faster for them to save time and money when doing these necessary checks,” Chow explained.

SMEs constitute 99.6 percent of registered businesses in the Philippines.

Chow said hiring the right people for the job for the SMEs is an arduous task that involves spending a big sum of money to source, onboard and train a candidate only to realize a few months later that they made the wrong hire. For getting a wrong hire, Chow said, the cost can easily go up to five times the monthly salary of the person.

To remedy this problem, Chow said integrating efficient and time saving background checks in the hiring process must be implemented by entrepreneurs to mitigate hiring risks. “Veremark can help businesses make fewer bad hires at a more efficient turnaround time,” he said.

Moreover, he stressed, Veremark can handle the demands of finding the right

people for a company helping most timepressed businesses to quickly implement a best-in-class screening process that requires no manual effort on their side.

Veremark has a superb track record, as it is the highest-rated backgroundscreening platform on third party review sites like Capterra because it gives value to a positive user experience.

With Veremark’s automated background screening platform leverages automation, integration, and blockchain, Chow said this enables their clients to save costs and hire with more confidence.

With its automation tool, Chow said, Veremark does the heavy lifting for the client by helping them achieve a significant increase in their productivity because they can customize their communication messaging, frequency of follow-up, and notification settings based on their preference.

Veremark’s platform integrates with popular Applicant Tracking System (ATS) and Human Resource Information System (HRIS) tools. Further,

the platform also supports important security features like Two-Factor Authentication (2FA) and Single Sign-On (SSO). “We ensure our clients’ data are secure, while at the same time making it easy for them to get the information they need when they need it since we integrate with the other tools they are using,” Chow said.

Chow said their blockchain-powered Career Passport is a game-changer.

Blockchain allows a company to store data securely, while maintaining data integrity and providing faster turnaround times to complete background checks.

“If a candidate’s educational attainment has been verified previously, why do future employers have to run the same check years later?” Chow said.

Launched in late 2019, Veremark provides an automated digital-first solution that instantly lets companies, large or small, order a wide range of checks like employment history, academic, criminal and credit records checks anywhere in the world.

B4

Banking&Finance BusinessMirror

Wednesday, October 13, 2021 • Editor: Dennis D. Estopace

LandBank chair flags delays in resolution of court cases

T

By Bernadette D. Nicolas

@BNicolasBM

HE ex-officio chairman of the Land Bank of the Philippines (LandBank) and Finance Secretary Carlos G. Dominguez III flagged the delay in the resolution of pending rehabilitation and insolvency cases, prompting the Supreme Court (SC) to remind Regional Trial Courts (RTCs) designated as special commercial courts to stick to the time limit set by law.

Dominguez informed the Office of the Court Administrator (OCA) about commercial cases that have remained pending in the lower courts without any approved rehabilitation plans for more than a year, which is already beyond the maximum period set by Republic Act 10142.

Under Section 72 of the law, also

called the Financial Rehabilitation and Insolvency Act of 2010, the court shall have a maximum period of one year from the date of filing of the petition to confirm a rehabilitation plan. If no rehabilitation plan is confirmed within the said period, the proceedings may upon motion or motu propio, be converted into one for

the liquidation of the debtor.

In a letter to Court Administrator Jose Midas P. Marquez, Dominguez said LandBank is a creditorparty in numerous rehabilitation and insolvency proceedings “where there appears to be a questionable trend of unwarranted delay and/ or circumvention of court proceedings.”

In some cases, debtors have resorted to unscrupulously filing petitions for rehabilitation or insolvency “for the sole purpose of absconding from their obligations while protecting their assets without genuine intention of rehabilitating businesses or settling obligations,” Dominguez said in his letter.

“Further, case records where the LandBank is a creditor-party suggest that some case proceedings may have been deliberately delayed,” he added.

Dominguez also pointed out that “the delay in the resolution of rehabilitation cases and the failure of the courts to observe the mandated period to resolve these cases defeat the purpose of RA 10142 of ensuring a timely, fair, transparent, effective and efficient rehabilitation or liquidation of debtors.”

Thus, Dominguez urged the High Tribunal to “ensure that courts comply with their mandate” in resolving cases involving rehabilitation, insolvency and liquidation proceedings, among other related commercial disputes.

In response to Dominguez’s appeal, the SC “strongly reminded” RTCs to act without delay in acting on rehabilitation, insolvency and other related commercial cases pending before their respective salas.

Under Circular 105-2021 issued by the OCA, the high tribunal said judges of RTCs designated as “special commercial courts” should follow the time limit set in deciding commercial cases.

In the circular, Marquez warned judges that “failure to decide cases and other matters within the reglementary period constitutes gross inefficiency and warrants the imposition of administrative sanctions against the erring magistrate” as stated in the SC ruling on Gallego v. Doronila. He also urged them to “remain in full control of the proceedings in [their] sala” and “adopt a firm policy against improvident postponements.”

www.businessmirror.com.ph

Diokno asks thrift banks to leverage advantages

By Bianca Cuaresma @BcuaresmaBM

T

HRIFT banks are “strategically positioned” to be catalysts of financial inclusion, especially after maintaining a foothold in the market amid disruptions caused by the global health crisis, the Bangko Sentral ng Pilipinas (BSP) governor said.

In his keynote speech at the Chamber of Thrift Banks (CTB) virtual convention last Tuesday, BSP Governor Benjamin E. Diokno said thrift banks must leverage their extensive network to reach more people even during the pandemic.

“Amid the pandemic, the thrift banking industry remained sound and stable as shown by sustained growth in assets and deposits, strong capital position, adequate liquidity buffers and profitable operations,” the governor said.

As of end-August this year, the thrift banking industry has 2,744 offices spread in different regions throughout the country.

Diokno added that the sector’s total assets registered at P1.2 trillion as of end-July, posting a 6.8 percent

year-on-year growth rate.

Meanwhile, deposit liabilities in the same period grew by 7.9 percent.

Diokno said higher deposit liabilities in the sector is “highly indicative of the public’s continued trust and confidence in the industry.”

The risk-based capital adequacy ratio (CAR) of the industry stood at 18.8 percent as of end-June 2021.

This is well above the minimum thresholds set by the BSP at 10 percent and the Bank for International Settlements at 8 percent. The minimum liquidity ratio of the industry was 36.5 percent as of end-June 2021, also surpassing the 16 percent minimum standard set by the BSP. Net income registered at P6.6 billion in the six-month period ending June 2021, higher by 15.3 percent compared to last year’s level.

“We are optimistic that the thrift banking industry is well-equipped to withstand the risks posed by the Covid-19 crisis,” Diokno said.

“Recovery in the country’s macroeconomy and the industry’s financial performance will serve as a strong foundation for thrift banks in charting their course under the new economy,” he added.

Govt raises ₧35B from sale of reissued 5-yr T-bonds

T

HE Bureau of the Treasury raised P35 billion from auctioning off P35 billion in reissued five-year Treasury Bonds (T-bonds).

Bids for the government papers were oversubscribed after hitting P56.1 billion.

With a remaining life of four years and five months to maturity, the T-bonds fetched an average rate of 3.576 percent, higher by 5.58 basis points from the secondary market

rate of 3.5202 percent based on the Bloomberg Valuation Service reference rate for a 5-year tenor.

In the previous auction of the security last September 1, the tenor fetched an average rate of 2.746 percent. However, National Treasurer Rosalia V. De Leon said the new average rate should not be compared with the average of the previous auction “when inflation was low.”

Inflation eased to 4.8 percent in September, slightly lower than 4.9

DAR eyes Cebu farmers for micro-lending tack

M

EMBERS of a credit cooperative based in Carmen, Cebu, could soon avail microfinance credit through a program launched by the Department of Agrarian Reform (DAR).

The microfinance operations of the Hagnaya Organized People for Environment Multi-Purpose Co-operative (Hope MPC) were launched recently at the co-op’s office in Barangay Hagnaya, a statement from the DAR said.

The Provincial Agrarian Reform Office through Enterprise Development and Economic Support (EDES) program has a capitalbuild-up of P200,000 that could be used by agrarian reform beneficiaries (ARBs) to improve farm productivity.

DAR Assistant Regional Director Louie L. Naranjo said the co-operative has been a recipient of “organizational strengthening, agri-enterprise and other training.” Naranjo, concurrent officer-

in-charge and Provincial Agrarian Reform Program Officer II, said such factor qualifies Hope MPC, a DAR-assisted ARB organization, as a microfinance provider.

“Our department would continue to empower our co-operatives because the primary beneficiaries are our farmers in the countryside, which [need] much support to improve their lives,” Naranjo said.

Hope MPC Chairman Rosal Jayme said 58 ARB members are now availing the credit assistance through the co-op’s loan programs.

The co-operative was organized in 1993 and has been engaged in consumer store business.

Hope MPC Manager Petronio Peñas was quoted in a statement as saying that in 2017 co-op members were trained on manufacturing sinamay products such as hats, curtain holders, placemats and bags. The export of these products enhanced the co-op’s income, according to Peñas. Jonathan L. Mayuga

percent in August but within the range of the central bank’s projection for September inflation of 4.8 percent to 5.6 percent. The Bangko Sentral ng Pilipinas (BSP) earlier set full-year inflation at the 2-percent to 4-percent range. However, the forecast was revised slightly upward to 4.1 percent.

De Leon has said the Treasury expects investors would seek higher rates after the tweaking of inflation targets.

The increase in rates comes as the Treasury aims to raise P200 billion from the local debt market. The latter is seen as the major source of the national government’s programmed borrowing of P3.1 trillion.

As of end-August this year, the national government’s outstanding debt has hit a new record-high of P11.64 trillion, up by more than a fifth from P9.62 trillion a year ago.

Bernadette D. Nicolas

CHINESE FISHING

The Pudong, Shanghai, skyline is seen at the background of an angler. China is reportedly inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system. Bloomberg News

SG publisher fetes BDO’s marketing amid Covid-19

S

INGAPORE-based Charlton Media Group Pte Ltd. has recognized BDO Unibank Inc. through the publisher’s Asian Banking and Finance (ABF) Magazine’s awarding tack for the listed-bank’s push on marketing and brand initiative amid the pandemic.

BDO Unibank said it was awarded with the “Marketing and Brand Initiative of the Year [Philippines]” for its webinar series “Market Sense.”

The bank said the 6-episode monthly webinar is its initiative for investors and clients to receive tips from invited experts on how to position investments, especially during the health and economic crises.

“Financial institutions that didn’t back down from the challenge and have adapted amidst the crisis have proved to be on the top of the industry,” ABF magazine publisher Tim Charlton was quoted in a statement

as saying. “The ABF awards aim to recognize these exceptional firms and challenge them to provide toptier products and services to their clients as we continue to move forward into the new normal.”

Meanwhile, BDO subsidiary BDO Private Bank Inc., won “Wealth Management Platform of the Year [Philippines].” Its corporate social responsibility arm, BDO Foundation Inc., won the “Covid Management

Initiative of the Year [Philippines].”

“Our aim is to offer clients more and better investment opportunities, more information on which to base their decisions and personal contact with advisors who have the knowledge and expertise to guide them through their investment goals and estate planning objectives,” BDO Private Bank President Albert Yeo was quoted in a statement as saying.

Bianca Cuaresma

PNB collects award for KYC, customer-onboarding tech

T

HE Philippine National Bank (PNB) earned accolades from regional financial services company T.A.B. International Pte. Ltd. during the latter’s annual “Risk Management Awards.”

PNB was named as the bank with “KYC [Know-Your-Customer] and Customer Onboarding Technology Implementation of the Year” for its use of technology in monitoring the bank’s transactions in its extensive network.

TAB International, which pub-

lishes the “The Asian Banker” magazine, recognized PNB’s enterprisewide transaction monitoring system “for enabling the bank to effectively detect facilitation of financial crimes within its books.”

TAB International said the project has “strengthened PNB’s broader KYC efforts” through enhanced transaction monitoring and mitigating risks that may appear during the lifecycle of customer relationships.

“The banking landscape has been changing significantly in response

to evolving customer expectations, technology, and regulatory environment,” PNB President and CEO Jose Arnulfo A. Veloso said. “At the end of a day, an effective transaction monitoring system is needed to tackle financial crime risks.”

The TAB International’s awards is a program designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions across Asia Pacific, the Middle East and Africa.

PNB Chief Compliance Officer and Global Compliance Group Head Isagani A. Cortes was quoted in a statement as expressing gratitude for TAB International “for recognizing PNB’s commitment in fulfilling our compliance obligations very seriously in order to preserve the integrity of the financial system.”

“We continue to leverage on solutions to efficiently address and mitigate financial crime risks and at the same time, effectively manage its risk,” Cortes added. Bianca Cuaresma

PDIC: Court of Appeals upholds MB decision to indict former RCBC Bacolod exec

T

HE Philippine Deposit Insurance Corp. (PDIC) revealed on Tuesday that the Court of Appeals (CA) Manila (11th Division) upheld the decision of the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) to administratively indict Andrew A. Jereza, the former manager of the Rizal Commercial Banking Corp. (RCBC) Bacolod branch, for conducting banking business in an unsafe and unsound manner.

The PDIC said that the CA deci-

sion dated July 12, 2021 upheld the MB Resolution directing the filing of a formal charge against Jereza.

The deposit insurer said the decision was issued “after finding that there is a prima facie case against [Jereza] for conducting banking business in an unsafe or unsound manner under Section 37 of Republic Act (RA) 7653 (The New Central Bank Act) and Section 56 of RA 8791 (The General Banking Law of 2000), for having accepted the second-endorsed crossed checks for deposit to an account other

than the payees of those checks.”

According to the PDIC, on various dates in December 2008, and on February 26, 2010, the MB ordered the closure of 13 different banking institutions collectively referred to as the “Legacy Banks.” The “Legacy Banks” had a total of 49 banking units with an estimated insured deposit of P14.1 billion, the PDIC said.

As deposit insurer, the PDIC paid the deposit insurance claims of concerned depositors through crossed checks “For Payee’s Account Only”

drawn against the PDIC’s depository account with the Land Bank of the Philippines (Landbank).

However, the PDIC said, some 683 returned cleared checks in the total amount of P98.73 million paid to 86 depositors were deposited to a single account with the Bacolod branch of RCBC via second endorsement.

In its Decision, the CA agreed with the MB that with the deposit of the subject checks in a single account in a questionable manner, there exists prima facie case against Jereza

for acts constituting doing business in an unsafe and unsound manner.

In a related case, the Supreme Court, in a decision dated 20 June 2018 (GR 234616), after finding probable cause for estafa and money laundering, directed the Department of Justice to file criminal information against the depositor in whose account the 683 crossed checks were deposited.

The PDIC said it “continues with its pursuit of justice against erring bank owners, officers and unscru-

pulous parties who take advantage of the deposit insurance system for their personal gain.”

The PDIC’s “vigorous legal actions are critical in protecting the interests of the depositors and the Deposit Insurance Fund, PDIC’s funding source for payment of deposit insurance; and in deterring other parties from taking advantage of the deposit insurance system.”

The PDIC was established on June 22, 1963 by RA 3591 to provide depositor protection and help maintain

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, October 13, 2021

B5

Competitive advantage: a good manager CHEF Jose, the well-loved multihyphenate

Chef-actor maintains resto-bar business amid the pandemic Blame it on the parents and grandparents—huge foodies at home and on domestic and foreign trips— for Chef Jose Sarasola’s culinary attachment. In addition to this natural inclination toward cooking shows on TV, it was but second nature for Sarasola, who has also dabbled in acting, to pursue a path in this field.

This led him to a degree in Hotel Restaurant and Institution Management at the De La Salle-College of Saint Benilde, followed by several hands-on apprenticeships in hotels and restaurants, where he was exposed to advanced cooking techniques, including the menial realities of the kitchen.

Motivated more than ever, upon graduation 11 years ago, he immediately opened Avenue 75, a wellloved neighborhood sports bar inside BF Homes in Parañaque City.

Known in the community for their lively atmosphere, ice-cold beer and wide selection of liquor, their signature dishes include half and half brick-oven baked thin crust pizzas, burgers, crispy pata and sisig, among other innovative dishes.

“My grandmother was always honest and critical about the food I prepare,” admitted the young chef.

Despite the pandemic affecting the industry, Chef Jose forges on—after all, most of his staff have been with him since day one.

“Our sales may have suffered, but we push on. I have a responsibility to take care of my team,” the entrepreneur stated.

Today, with safety protocols in mind, they have launched new promotions and delivery services as they continue to serve loyal patrons and new customers.

Moreover, this love for the kitchen has transcended borders. An endorser of various culinary brands, he now hosts the weekly segment Eat Well, Live Well. Stay Well and is the program chef on the GMA morning show Unang Hirit.

When asked about his motto and motivations, he opined “We all have goals and ambitions in life.

Sometimes getting there is a struggle and you hit roadblocks. But if you stay on that road, you will get to your destination one way or another.”

Chef Jose believes Avenue 75 and restaurants in general are more than just their kitchen, or service and ambiance. “It is also about management and taking responsibility for the community,” he ended.

O

NE of the things I am grateful for in my entire working life is that I have always had good managers. Do not get me wrong because they are far from perfect, but somehow their idiosyncrasies helped me ground my expectations and forced me to take the best of their people management skills. And I realized when I began handling my own team that I was using the lessons I learned from them in managing my own.

It takes a great deal of effort in managing people with varying degrees of engagement, motivation and performance. It takes more than good technical skills and knowledge to manage a team. A good manager is someone who motivates their team but at the same time is assertive in ensuring results. They build relationships on foundations of trust, open communication and accountability.

A good manager also decides based on the team’s needed output and not based on office politics. They are consistent and patient, have foresight, and can communicate effectively to a diverse group of people.

Being a good team member does not necessarily make someone manager material.

It takes a certain degree of experience and ability to use skills and knowledge to influence people and outcomes that make a good manager. And whatever industry you are in, a good manager will always be a competitive advantage.

Having a good manager helps a team understand what the organization expects from them. Managers ensure that the executive’s decisions and direction are communicated to the team in a way that helps them understand their role in achieving the organization’s goals. As the mediator between management and their team, a good manager helps promote alignment throughout the organization.

I used to work in a hospital where I first learned what our team’s key result areas were and how they translated to my key performance indicators. It helped me understand how strategic direction could be translated into operational terms and made me realize that if I did not see the bigger picture, I would not understand how my work contributed to a bigger cause. My manager helped me understand that when I did my job well, patients were properly treated.

Only a good manager could help me understand the connection between my work and the organization’s goal.

A good manager also guides their team when there is a need to either empower their team or teach them a lesson. Understanding how their team works and learns will translate to better productivity because a good manager knows when to step in and when to

allow their team to innovate and improve processes.

When I was leading a learning and development team, we followed a process in developing both online and facilitator-led courses. My manager then taught me to track productivity so I could understand which part of the process was taking too much time and asked me to come up with recommendations. At first, I felt it was a waste of time but when I started discovering where my team could improve, it became easier for me to look for solutions. It also made me appreciate my work and helped my team do their work easier and faster.

What I also appreciated from one of my managers was the fact that my mistakes became learning experiences. I remember the first time we made an online learning portal, and it was the first time that our team had the opportunity to make one. It was basic and crude, and we took so many wrong turns that there was a time when we almost gave up.

My manager walked with us and even spent a day just focusing on us. Contrary to our expectations, it became a hit with our client and other clients started noticing and also wanted their own.

The same manager also instituted a practice during weekly team meetings. We took turns presenting our projects and highlighting the innovations we incorporated in our materials. So even if we handled different clients, we had a bank of ideas where we could draw inspiration, and it became easier for us to brainstorm for learning solutions to new training challenges. A good manager knows how to motivate their team and sustain their engagement by capitalizing on their team’s strengths and

complementing their weaknesses.

Conflicts are unavoidable especially when there are differing opinions and personalities in a team.

A good manager knows how to handle and settle conflicts within their team. I used to be part of a team where every group had one member with a strong personality, and some discussions meant that the person with the loudest voice won. Thankfully, my manager knew how to handle them. I learned that the secret to that was getting to know your team and understanding their motivations. It becomes easier to negotiate and get the work done.

Probably a common thread running through all my managers was their investment in my professional development. They would take the time not just to teach me but also to send me to training to improve my opportunities for development, or to keep me updated on industry trends. This also helped me anticipate client expectations and helped me recommend possible solutions using available tools.

A good manager understands that their team needs to explore and grow, and their role as a manager is to support the professional development of their team.

A good manager is able to rally different personalities and skills into a cohesive effort to achieve a common objective. Being a good manager is especially challenging today because of the remote working environment and uncertain conditions.

But I have also seen how they have thrived given the available tools and limited resources because I have experienced firsthand how it is to have a good manager. And in these times, having a good manager is a blessing I am thankful for every day. n

How your emotional response to the Covid-19 pandemic changed your behavior and your sense of time

By Philip Gable University of Delaware THE Covid-19 pandemic, now in its 19th month, has meant different things to different people. For some, it’s meant stress over new school and work regimes, or anxiety over the prospect of catching Covid-19 and dealing with the aftereffects of an infection. But for others, it’s created space and freedom to pursue new passions or make decisions that had been put off. ​Our upended lives—for better or for worse—also likely influenced our perception of time. ​In June 2020, we were part of a team of researchers who presented initial evidence that an individual’s sense of time during the pandemic was closely related to their emotions. ​People who reported feeling high levels of stress and nervousness in March and April 2020 also tended to feel that time was passing more slowly, but people who reported feeling high levels of happiness felt that time was passing more quickly.

(Yes, believe it or not, there was a good chunk of people who enjoyed their time spent in lockdown.) ​It turns out that even during a pandemic, time flies when you’re having fun. ​With a year’s worth of data, we were able to see how people’s views on the progress of the pandemic were related to their sense of time, their emotional states and whether they behaved in ways intended to slow the spread of Covid-19.

Where does the time go?

TIME is a funny thing. On the one hand, it’s incredibly precise and consistent—an objective measure. Each

day on Earth lasts exactly 23.934 hours, the length of time it takes the Earth to rotate once along its axis. ​On the other hand, how we feel or perceive time passing is neither consistent nor precise. Many people will probably agree that 23.934 hours seem to pass much faster on a Saturday than on a Monday. ​Dr. Gable has spent the past decade exploring how two highly related concepts—emotion and motivation—playa large role. ​Motivation is a part of emotion and can either be described as “approach motivation” or “avoidance motivation.” The former is characterized by the tendency to engage with others or pursue goals when we experience positive emotions, such as excitement and joy. The latter refers to the tendency to pull away from others when we experience negative emotions, such as sadness or fear. ​Approach motivation is associated with time passing more rapidly, which ultimately results in spending more time engaged with something that makes us feel good. ​Avoidance motivation is associated with time passing more slowly, which motivates us to escape from potentially harmful situations. ​Under normal circumstances, these relationships help us effectively pursue our goals and maintain our safety. Consider how long you’ll spend absorbed in a good book and how quickly you try to escape from a threatening situation. ​But what happens in extreme circumstances?

Thanks to a grant from the National Science Foundation, we were able to investigate for the first

year of the pandemic how people’s motivations and emotions altered their sense of time.

Initial results IN April 2020, Dr. Gable and his team asked 1,000 Americans about their sense of time and emotional experiences over the previous month. ​Almost 50 percent of these individuals reported that time seemed to be dragging by, which was strongly related to higher levels of stress and nervousness. These respondents also reported practicing social distancing more often. Roughly 25 percent of participants said time seemed to be flying by, which was associated with feeling happy and glad. The remaining 25 percent of participants felt no change in their sense of time. ​A month later, we contacted the same people and asked the same questions. About 10 percent of those who had previously reported time passing slowly said it was moving more quickly. And more of them said they felt relaxed and calm.

The rest of the year WITH a full year’s worth of data, we were able to analyze the results across 12 months of the pandemic.

(The analysis is still under peer review.) We found that individuals who reported being relaxed, happy and confident felt that time was passing more quickly. ​In contrast, participants who reported strong feelings of fear, anxiety or anger—or who felt that their lives were out of control—perceived time

passing slowly. This sensation of time moving sluggishly was also associated with greater worry about personally getting Covid-19, anxiety about whether a family member would become infected and concern about how the virus would affect personal finances. ​Over the course of the pandemic, we found that when people were feeling time was moving by more quickly, they were more likely to wear a mask.

Meanwhile, when people perceived time passing more slowly, they tended to avoid large gatherings. ​Both limit the spread of the virus. So what might explain the likelihood of one behavior over the other? ​Individuals wearing a mask are engaging in more approach-motivated behavior, as wearing a mask doesn’t protect the wearer as much as it protects those in their vicinity. The more positive people felt, the more likely they were to wear a mask to protect others around them. ​Those who avoid large gatherings are engaging in more self-protective, or avoidance-motivated behavior. It prevents you from getting the virus from other people, with fear and avoidance influencing the behavior. ​As our understanding and awareness of Covid-19 variants increases, so does our understanding of ourselves and how we behave. These findings may highlight the importance of maintaining good habits and finding hobbies that foster positive emotions.

That way you won’t be trapped in a cycle of despair, which is only compounded by the sense that time is creeping by. THE CONVERSATION

PHOTO BY AIRFOCUS ON UNSPLASH

B6 Wednesday, October 13, 2021

GBP best practices recognized in ASEAN Coal Awards 2021

Security Bank Foundation repairs 14 classrooms in Tacloban City

SECURITY BANK FOUNDATION, INC. restored the two school buildings it donated at San Jose Central School (SJCS) located in Tacloban, Leyte from the damages brought by 2019 typhoon and earthquakes. The buildings in SJCS were constructed way back in 2015 as a response to the devastation brought by Super Typhoon Yolanda.

S

IX years after turning over two school buildings in San Jose Central School, Security Bank Foundation, Inc. (SBFI) returned to Tacloban to repair the donated classrooms that were heavily devastated by the 2019 earthquakes and Typhoon Ursula.

The two school buildings, which host a total of fourteen classrooms, were donated by SBFI as part of its rehabilitation efforts after Typhoon Yolanda struck Tacloban City in 2015.

Remaining committed to the Department of Education’s (DepEd) Adopt-a-School Program, SBFI recognized

that there is a need to go beyond a onetime donation and assist SJCS in times of need. In this case, the assistance came in the form of a major school building repair post-disaster so the structures remain conducive for learning as well as benefit more students especially when face-toface classes gradually resume.

“Commitment in ensuring that the buildings remain safe and beautiful to behold despite the pandemic situation, while there are no face-to-face classes, the school buildings serve as working spaces for teachers doing their best for children to continue to learn through distance

learning delivery,” says SJCS Principal Dr. Greg Galos.

The repairs involved replacement and re-sealing of damaged roofing sheets and ceilings, masonry works for post-earthquake cracks, as well as repainting and restoration of the rusted steel, termite-infested wooden joineries, and troubleshooting for wiring and plumbing systems.

Security Bank Tacloban-Vetaranos Branch Business Manager Nilo Lee personally monitored the progress of the repairs on the Foundation team’s behalf. “It’s important to sustain partnerships where legacies continue to be developed, even during a pandemic. Adopting a school means that we are there for them, come hell or high water.”

As a standard, SBFI evaluates its donated school buildings every five years to assess structural integrity and conduciveness for learning. Those that are heavily damaged by disaster, such as earthquakes and typhoons, are prioritized for repair to ensure continuity of classes and the safety of students.

Launched in 2011, SBFI’s Build a School, Build a Nation Program helps provide Filipinos with opportunities to develop through education. By December 2021, SBFI would have donated 701 classrooms in 124 schools located in 69 cities/municipalities nationwide in communities where it operates.

For more information, visit www. securitybank.com/sustainability or www. facebook.com/SecurityBank.

TCS Sustainathon ASEAN 2021 launches in PH, promotes inclusivity in education

T

ATA Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, is bringing the TCS Sustainathon to the Philippines this month. With the overarching theme of “Reimagining Education,” the Sustainathon 2021 hopes to enable senior high school and college students to join discussions on pressing issues surrounding education today and hopefully develop ideas on how to have an “Inclusive Education for all in 2030.”

TCS Sustainathon was initially launched in Singapore in 2020 with the theme of Combating Food Waste.

It served as a platform for young minds to collaborate with private companies, nonprofit organizations and government agencies to co-create solutions for real world sustainability issues using digital technologies.

Ninety-eight students from more than 15 educational institutions in Singapore developed plans on fighting food waste, which has been one of the major challenges faced by many countries.

This year, TCS expands its initiative to the Philippines and Malaysia to promote inclusivity in education as these countries implement blended and flexible learning.

“Education across the world has been greatly affected by the pandemic.

Filipino students, in particular, face challenges in coping with changes but they continue to make extra efforts to pursue learning. We witnessed students in Singapore last year in the pilot run of TCS Sustainathon being passionately involved in key issues and sharing their ideas. We at TCS Philippines are excited to see the ideas Filipino students have on improving education,” shares TCS Philippines Country Head Shiju Varghese.

Creating a learning environment conducive for all

MORE than 23 million students are enrolled in both public and private

schools nationwide for the SY 20202021,[1] according to the Department of Education. With blended learning still the mode of education, teachers and students alike face challenges in internet accessibility, mobility and learning materials, among others.

Envisioning an improved educational system in the coming years, TCS Philippines invites Filipino students to join the TCS Sustainathon 2021. Senior high school and college students from public and private institutions across the country are welcome to participate either as individual students or a team with a maximum of four members.

Each individual or team must choose a challenge statement and create ideas or solutions to address the challenge statement, on the theme “Inclusive Education for all in 2030.” Entries must incorporate the use of technology to create innovative, practical and concrete solutions for the chosen challenge.

Participants can register and submit their entries at the TCS Sustainathon Philippines website until November 19. The 1st place winner will receive Php150,000 while the second and

third placers will receive Php100,000 and Php50,000, respectively. The top two winners will compete alongside Sustainathon Singapore and Malaysia winners at the ASEAN Championship in March 2022.

TCS Sustainathon’s Strategic Partner is Asian Development Bank (ADB).

The Challenge Partners are Converge ICT Solutions, Inc., Ronald McDonald House Charities of the Philippines, Inc., Gokongwei Brothers Foundation, and De La Salle-College of Saint Benilde who will provide the challenge statements while the Outreach Partners, Edukasyon.ph, UN Sustainable Development Solutions Network – Youth, and ADB Southeast Asia Development Solutions (SEADS) will provide support to boost the awareness about the TCS Sustainathon initiative.

TCS Philippines supports the goals of its partners and the community with its expertise and technological solutions.

Driven by its core principle of Building on Belief, TCS Philippines remains committed to its promise of creating viable solutions for the benefit of the society and future generations.

G

LOBAL Business Power Corporation’s (GBP) generation plants were recently cited for their operations and maintenance best practices by the ASEAN Coal Awards 2021 in a virtual ceremony held last month. The bi-annual awards, organized by the ASEAN Centre for Energy (ACE), recognize the private sector’s participation in energy development in the region.

“Bagging two citations from the prestigious ASEAN Coal Awards is truly an honor for GBP as we continuously strive to achieve operational efficiency in our existing plant facilities,” said GBP President Jaime T. Azurin. “We give utmost importance in ensuring that we implement only the best practices to provide reliable, adequate, cost-efficient and clean energy to our consumers,” he added.

Panay Energy Development Corporation (PEDC), Cebu Energy Development Corporation (CEDC) and Toledo Power Co.(TPC) were jointly awarded in the Best Practices Clean Coal Use and Technology (CCT) Category for Medium (100-500 MW) Power Generation. PEDC won first runnerup for its Boiler Tube Management Program, while CEDC and TPC together won second runner-up for their Preventive Maintenance Interval Optimization Program.

PEDC was given the award for corrective actions in its maintenance procedures, particularly in area of tube life management to minimize downtime, achieve optimal efficiency and ensure plant reliability. The corrective measures effectively reduced PEDC’s tube leakrelated outages by 71% during the first year of implementation and even eliminated tube leak incidents two years after.

CEDC and TPC, meanwhile, were recognized for initiatives aimed at improving operational efficiency and plant reliability to provide quality service to their customers and at the same time, reduce operating costs. The enhancement in O&M programs allowed CEDC and TPC to endure longer preventive maintenance intervals.

Both the PEDC and CEDC plants utilize circulating fluidized bed boiler technology that produces very low levels of sulfur dioxide and nitrogen oxide and captures most of the particulate matter. PEDC has a total capacity of 314 MW through its power plants in La Paz, Iloilo City, while CEDC and TPC have a combined capacity of 388 MW from its generating plants in Toledo City in Cebu.

The ACE promotes the role of clean coal technology in facilitating the transition towards sustainable and lower emission development. The awards were presented during the 39th ASEAN Ministers on Energy Meeting (AMEM) and ASEAN Energy Business Forum (AEBF) 2021.

As a member of the ONE MERALCO Group, GBP is committed to create meaningful impact and lasting value in Powering the Good Life of its consumers, stakeholders and the community.

With the Delta variant surge, Metro Pacific Hospitals battle COVID-19 in multiple fronts across the nation

N

O matter where we are in the country these days, it seems the Covid-19 virus has touched a family member, a neighbor, a friend. Even worse, we know people around us who did not survive this current Delta Variant surge, adding to the growing statistics of this pandemic, but now with real names and faces. As the largest private hospital operator in the Philippines with 18 hospitals all over the country, the Metro Pacific Hospital Group (Metro Pacific Hospital Holdings Inc. or MPHHI) has been forging on in the frontlines, battling this virus, this time in multiple cities across the nation.

Gearing up the network

THIS being the 4th though most challenging surge in the 19 months of this dragging pandemic, MPHHI was able to prepare. Despite operational challenges and industry-wide staffing constraints, it expanded its total dedicated Covid beds to 1,100 beds. Medicines and medical supplies, including PPEs, were stocked up. Emergency Rooms were expanded to accommodate more isolation beds, and hospital zoning was improved further to control infection.

100% of its more than 26,000 frontliners were fully vaccinated by June. 13 out of 18 of its hospitals opened FDA-approved molecular labs for Covid testing, which have since swabbed over 500,000 patients, of which more than 16,000 confirmed cases were eventually admitted and cared for in its hospitals. With its group-instituted Covid Task Force, the various hospitals in the network shared valuable clinical protocols with each other, with the big premier hospitals in Metro Manila imparting lessons learned with its provincial sister hospitals.

“With the entry of new variants and at the height of each surge, our hospitals have operated at full capacity. This pandemic has tested our limits and compelled our teams to think outside ordinary operational parameters. Where we have limited or maxed out space for more beds, some of our hospitals responded swiftly to the need to create additional capacity by setting up isolation emergency room extensions and designing innovative out-patient solutions that helped free up capacity extremely needed for more critical cases in the hospitals”, MPHHI COO Dr. Jeffrey H. Staples shared.

Innovative Solutions

TO bring more services to the homes of the patients, many of the MPHHI hospitals launched teleconsult services, mobile laboratories for blood works and swabbing, e-pharmacy and remote care services, which

included constant monitoring, mobile chest x-rays, vaccinations, I.V. assistance, and other health support services. The group also organized a systematic procurement strategy for additional equipment and medicine supply, launched a nurse redeployment and mobilization program while pursuing a nationwide nurse recruitment program. The MPPHI hospitals have invested about Php 3 Bn in capex and working capital in response to the pandemic and the operational challenges that go with it.

Light at the end of the tunnel

WHILE continuously addressing the pressing needs of covid and non-covid patients alike, MPHHI has also geared up to support the nation’s goal of mass vaccination. As a member of the MVP Group of companies, MPHHI established 5 mega vaccination centers with a total maximum capacity of 4,500 per day in NCR to host the vaccination of essential workers from Group companies such as PLDT, Smart Communications, Meralco, and Maynilad. The program, which utilizes vaccines procured by the group for the inoculation of up to 80,000 of its employees together with their dependents, is also being implemented in all of MPHHI’s provincial hospitals. So far, 153,000 jabs have been administered by MPHHI.

Eyes on the future

WHILE fighting this virus, MPHHI has not lost sight of its vision: to provide complete and affordable healthcare service to more Filipinos all over the country. It remains committed to growing and improving facilities and is planning more investments across new and existing hospitals and other related healthcare ventures. One of our more recent investments to address a growing need is our fast-growing portfolio of provincial radiation therapy centers, the newest one having opened in June 2021.

Over the last 4 years, the group has invested approximately Php 800 million in 6 cancer centers scattered across Luzon, Visayas and Mindanao, accommodating about 3,000 patients since. MPHHI will continue to find growth opportunities to augment its existing hospital network, applying a holistic approach to an integrated health ecosystem.

“We were able to achieve great strides during this pandemic, only with the help and unwavering dedication of healthcare workers and medical practitioners, our hospital management and staff. We are extremely grateful for their sacrifice, and the relationship we’ve continued to nurture through the years. MPHHI intends to remain at the forefront of providing quality healthcare service, constantly adapting to the ever-evolving needs of the Filipino people.” said MPHHI Chairman Manuel V. Pangilinan.

MPIC Group is committed to contribute to the achievement of the UN’s Sustainable Development Goals, particularly SDG 3: Good Health and Well-being.

BusinessMirror

Editor: Tet Andolong

Wednesday, October 13, 2021 B7

Burgeoning demand for affordable housing to continue in Q4 and 2022

Amaia Steps Pasig’s soon-to-rise Clara building once more attests to the vibrant growth of the Amaia brand

P

Bria offers prospective home buyers prime residential locations outside Metro Manila

By Rizal Raoul S. Reyes

ROSPECTS for the affordable housing (horizontal) market remain bright going into the next quarter driven by the escalating demand for affordable, yet decent and safe housing away from the highly dense areas in Metro Manila. Further, it is expected to increase as a blended work force (i.e., a percentage working in the office and the others remotely) will still be pervasive in the mid-term.

In an e-mail inter view, Claro Cordero Jr. Cushman and Wakefield head of research, consulting and adv isor y ser v ices, told the BusinessMir ror that the affordable housing segment is also expected to be part of the anticipated boom in 2022. He cited the completion of key infrastructure projects that will improve connectivity between Metro Manila and the neighboring areas will be the major driver of the growth. “ The increased connectivity will unlock opportunities for tracts of

vacant land that will be developed i nto sel f -su st a i n i ng commu n ities,” he said.

With their entry into the affordable segment, Cordero pointed out the major developers such as Ayala Land Inc., SM Development Corp. and the Villar group are expected to dominate the segment, due to economies of scale and availability of capital and major land banking for development. “However, there are areas/geographies where small- to medium-scale developers have outright advantage

of local market knowledge and expertise,” Cordero said.

Developers keep going

Meanwhile, the private developers engaged in affordable housing are moving forward continuing to deliver the commitments to their clients.

For instance, mass housing developer 8990 Holdings Inc.’s push to promote low-cost housing in the country got a big boost when it was recently named by the Pagibig Fund as the No.1 among the Top 10 Developers for both the Visayas and Mindanao regions.

Anthony Vincent Sotto, president and CEO of 8990, pointed out that the two top awards from the Home Development Mutual Fund—more popularly known as the Pag-ibig Fund, is a manifestation of 8990’s mission to continue serving the strong demand for lowcost housing in Vis-Min. He also commended the Fund for continuing to release home loans to qualified employees and overseas Filipino workers (OFWs) for the past 18 months. Thus, despite the lingering effects of the pandemic, many Filipinos are able to fulfill of owning their dream home.

Sotto also honored the brokers, sales agents and homeowners who continue to support the company’s many projects nationwide.

He attributed the warm response

8990 Holdings’ Urban Deca Homes Banilad is a three-tower residential condominium project in Mandaue City, Cebu

of the market to projects such as Deca Homes Pavia Resort Residences 1 and 2 in Pavia, Iloilo, and Deca Homes Santa Barbara Resort Residences also in Iloilo for the company’s outstanding performance.

Meanwhile, the Deca Homes GenSan 1 project in General Santos City propelled 8990 to win the top citation for Mindanao.

Overall, 8990 bagged five awards in the Pag-ibig Fund STA R (St a keholders Accomplishment Report) awards for the first half of 2021.

Moreover, 8990 a lso garnered the fol low ing three awards: Best in Conversion for North Luzon, #7 of Top 10 Developers also for North Luzon, and #8 among the Top 10 Developers also for the National Capital Region or NCR. The company’s North Luzon projects include Deca Homes Meycauayan in Bulacan, while ongoing projects in Metro Manila include Urban Deca Homes Campville in Muntinlupa City, Urban Deca Homes Ortigas in Pasig City, Urban Deca Homes Manila in Tondo, and Urban Deca Towers Edsa in Mandaluyong City.

Meanwhile, Bria Homes, the affordable housing group of the Villar group of companies, con-

tinues developing affordable housing units on a fast pace and is ready to turn over more than 6,500 units by year-end.

Red Rosales, president of Bria Homes, is optimistic about the company’s capability to address the housing needs of the times.

“We’re seeing a movement towards the suburbs where there is more breathing space and that’s where Bria is going, too,” he said in a press statement.

He said Bria Homes is also interested to address the need for housing in the suburban areas. Moreover, Bria Homes is accelerating plans to build more house-and-lot units and mid-rise residential projects in the country.

Aside from providing safe, secure, environment-friendly and digital-ready features, Rosales said Bria Homes established Sentro, a community hub that features a Health Center, Day Care Center, Senior Citizen Center, and Barangay Center.

Recreational facilities include a multifunction hall, tranquil green spaces, basketball courts, and children’s playgrounds to give a superb work-life balance to its residents.

He pointed out all Bria Homes will have proximity to essential destinations such as hospitals, banks, groceries, and other re-

tail establishments.

Meanwhile, Amaia, the affordable housing unit of property colossus Ayala Land Inc. continues to develop vertical units that are both affordable and have quality to enable Filipinos in the affordable segment to experience vertical living.

Loreene Fabi, the sales development and marketing head of Amaia Land Corp. said the company is engaged in developing in Pasig City Amaia Steps Pasig, a 4.5-hectare development of mid-rise condominiums located on Eusebio Street, Barangay San Miguel, Pasig City. Amaia Steps Pasig, which currently has three 9-story buildings—Aria, Blanca and Esperanza—is set to launch its fourth mid-rise building, Clara, to accommodate even more potentia l homebuyers, mostly young professionals and growing families.

Known primarily as an industrial town before the ’70s, Fabi said Pasig has been transformed into a cosmopolitan city that hosts huge shopping malls, world-class hotels and restaurants, prominent schools, and the bustling business district called the Ortigas Center.

Fabi said Amaia Land is optimistic that their latest project will get a positive response from people of Pasig.

Seven ways smart property owners can New bridge in Cebu joined together achieve energy savings mandated by law

A

forum of experts proposed practical energy-saving steps following the effectivity of the energy law last March, mandating power users to set strategies to conserve this scarce resource. The Energy Efficiency and Conservation Act covers establishments which consume at least 100,000 kilowatthours (kWh) or higher, making it relevant even to owners of small commercial properties.

Thus, building owners of skyscrapers, as well as proprietors of the typical 3-story building found in many municipalities, participated at a recent forum organized by the European Chamber of Commerce of the Philippines (ECCP) Real Estate Committee.

Lylah Ledonio, executive director of Leechiu Property Consultants (LPC) and chairman of the ECCP Real Estate Committee disclosed that there are practical ways and means building owners can easily adopt. Below are those suggested by the panel including real-estate developers, landlords and design experts. The forum was sponsored by LPC and moderated by Atty. Maria Concepcion Simundac. n Work with your tenants and occupiers to purposely turn off lights and air-conditioning during slow hours. Raymond Rufino, president and CEO of NEO, explained that even simple steps like this add up to significant energy savings. In addition, install sensors that turn off the lights and turn down airconditioning when a room is unoccupied. Moreover, modify the number of energy-using devices within a designated space.

By Roderick L. Abad

n Appoint an energy efficiency and conservation champion within the organization. Assign this champion to get up to speed on the latest available technologies and strategies, to seek professional help, to measure and track energy use digitally, explained AECOM Vice President for Cities and Resilience Sylvester Wong. The energy law further mandates that an establishment using 500,000 kWh annually or more must hire a certified energy conservation officer, while those using 4,000,000 kWh annually or more must include a certified energy manager in the organization. n Focus on components that use up the most energy: lighting and cooling. Use energy-rated materials like LED lights. Review the airconditioning system and prioritize installing newer, more energy efficient models. A landlord may want to inspect doors and windows to see if the seals are intact or need replacement, according to Ricardo Cuerva, managing director of the NOVA Group. Cool air, and therefore energy, leaks out mainly through windows and doors. “Putting in a revolving door in a building lobby would also save a lot of energy.” n If you own an older building, consider retrofitting it to achieve energy savings in an efficient leastcost way. Architect Cathy Saldaña, managing director and CEO of pdp A rchitects, recommends ana lyzing the efficiencies of the existing electrical and mechanical systems.

It would then be ideal to work towards phased renovations. She also suggests a review the building envelope to determine the level of heat

penetration and ways to reduce this. n If you are constructing a new building, go for a green-rated design, “prioritize the health and well-being of building occupants by providing views, reducing heat and thermal discomfort, and utilizing non-toxic materials. It doesn’t have to be complicated,” says Saldaña. “It just has to be practically implemented to provide comfort to users.” A threestar building rated under the BERDE system will cost no more money than a non-rated building. n Consider sourcing your renewable energy requirements and more from producers of geothermal, solar and other green sources. Rufino discloses that since 2013, NEO has been procuring green power at no cost premium to the portfolio owners or tenants. It has been purchasing not just the 1 percent of annual consumption now mandated by law to come from renewable sources—but 100 percent of its energy from AboitizPower which produces geothermal energy. n Future proof your rental revenues by providing highly energyefficient surroundings.

Because energy laws have been in effect in the West for 40 or so years now, many multinationals headquartered in key global cities value sustainable spaces. The benefits of these spaces include lower operational costs and better health for occupants. They also command higher resale value. Saldaña underscores: “Quality green buildings generate quality A-List tenants”—and buyers.

Should you wish to contribute or learn more about the ECCP Real Estate Committee, please write to advocacy@eccp.com.

A

FTER more than three years of construction, the longest cable-stayed bridge in the Philippines was finally built, as both sides of the 390 -meter central span of the Cebu-Cordova Link Expressway (CCLEX) were recently joined together successfully by the Cebu Link Joint Venture (CLJV), a consortium consisting of Acciona, First Balfour, and D.M. Consunji Inc. (DMCI).

The Cebu Cordova Link Expressway Corp., a subsidiary of Metro Pacific Tollways Corp., awarded the project to CLJV in 2017 to design and build the 650-meter cable-stayed bridge as the principal structure, with a span of 390 meters between tower pylons, located over the entrance to the Port of Cebu.

The project includes several viaducts as well as a section of the highway on a 5.2-kilometer length embankment.

Following the client’s design approval, construction began in July 2018 and lasted until September 2021, creating more than 2,500 direct and indirect jobs in the area.

Spanish company Acciona and the JV partners carried out most of the work on a selfperforming basis because of its construction’s technical and logistical complexity.

AERIAL photo of the newly constructed CebuCordova Link Expressway cable-stayed bridge

The deck of the bridge was built using a special “Underslung form-Traveler,” designed, and assembled using the latest technology, allowing complete sections of up to 7.15 meters long to be installed.

Designed and constructed to withstand extreme natural phenomena such as earthquakes, typhoons or tsunamis, the CCLEX’s foundations are up to 60 meters deep and were constructed with concrete piles in the seabed and coordinated

by Acciona.

Over 150,000 m3 of concrete, 31,000 tons of Grade-75 steel, and 965 tons of active steel for the cables and columns were used in its construction.

A launching gantry designed and manufactured by Acciona was used to construct the access viaducts to the main bridge.

T he CC L E X i s a i me d at further improving economic growth and trade activities in Cebu Province, as well as reduce traffic congestion currently suffered on the existing bridges by connecting Cebu City with Mactan Island via Cordova.

Also, the expressway’s operation will provide a faster connection between Cebu’s industrial zone and Mactan International Airport and Cordova’s new urban developments on the island, becoming a core communications route that will boost the local economy.

What’s more, the bridge’s location as a new gateway to nearby Cebu International Port, where about 80 percent of domestic and international shipping operators and shipbuilders are located, will help fast-track the transport of goods.

Sports BusinessMirror

Olympic silver medalist Petecio skipping world championships

T

HE Association of Boxing Alliances in the Philippines (Abap) will open training camp on Monday in Baguio City for the International Boxing Association Women’s World Championships in Istanbul in December—sans Tokyo Olympics silver medalist Nesthy Petecio.

“I would like to rest and spend my time with my family. I have been away from them for several months,” Petecio told BusinessMirror on Tuesday. She is currently in the Island Garden City of Samal, a good two-and-a-half-hour drive and a ferry ride away from her home in Santa Cruz, Davao del Sur. The Abap will field a team only in the women’s world championship. The association opted not to send a squad to the men’s world championships set next week in Belgrade because of lack of preparations wrought by pandemic protocols.

Petecio won’t be defending her featherweight gold medal in the Turkish capital.

Petecio won the women’s featherweight gold medal in the October 2019 Ulan-Ude (Russia) world championships and qualified, along with fellow silver medalist Carlo Paalam, for the Olympics through the world rankings when the Covid-19 pandemic prevented some of the qualifiers for Tokyo from pushing through.

The Abap instructed Australian coach and consultant Don Abnett to open training camp at the Philippine Sports Commission facility at the Teachers’ Camp in Baguio City.

Petecio, 29, said that she would

like to give way to the other boxers to vie in the world championships.

“It’s also not [good] that you compete in all tournaments. I really want to give other boxers the opportunity and exposure, I am not the only boxer so I want to give way,” said Petecio, a Petty Officer Third Class in the Philippine Coast Guard.

“I haven’t talked yet with the coaches yet, but I’m skipping the world championships.”

But Petecio stressed that she’s not retiring—although she’s enjoying the perks of her Olympic silver that netted her more than P17 million in cash bonuses and properties in Tagaytay City and Davao City.

Tokyo Olympian Irish Magno, however, will be in the training camp as she resumes her gold medal quest.

“I got the call to report to Baguio City next week, so my boxing journey continues toward the Paris Olympics in 2024,” said Magno, who exited in the quarterfinals of the women’s flyweight division in Tokyo. “I want to get a spot in the world championships this year.”

Magno, like all the other 15 Filipino athletes in Tokyo who didn’t make the podium, still got modest incentives from the government and private sector.

“I was able to build a house for my parents from my earnings in the Olympics,” said the pride of Janiuay in Iloilo.

Expected to be at the camp are former world and Asian Games gold medalist Josie Gabuco (light flyweight), Risa Pasuit (lightweight), Maricel Dela Torre (featherweight) and Aira Villegas (flyweight). Josef Ramos

Gilas women brace for busy schedule

T

program by national stalwarts Janine Pontejos and Camille Clarin.

Right off the bat is the qualifying meet for the Women’s World Cup to be hosted by Australia from September 22 to October 1. Aquino hopes to have 6-foot-5 regular center Jack Animam back in the team, along with US-born Filipina MaiLoni Henson, a former University of Washington Huskies standout.

Animam is playing pro ball in Serbia and missed the Fiba Asia Cup. Ella Fajardo, the rookie playmaker from Duke University, won’t be making the qualifier however, due to her commitment in the US NCAA. But the foremost priority of the team is definitely retaining the SEA Games title in Vietnam in May after finally winning the gold for the first time during the 2019 edition of the biennial meet in Manila.

“We sacrificed a lot for that gold medal that’s why we have to do our best again to defend the crown,” Pontejos said.

“Definitely, I would love to be a part of that gold medal [team]. We have a great program going for us,” said Clarin, a national team firsttimer at the Fiba Asia Cup. Aquino said the hectic schedule

Contrasting missions THE door is ajar for the Magnolia Hotshots. But not yet for either TNT Tropang Giga or San Miguel Beer (SMB).

A win on Wednesday (today) for the Hotshots will give them the first Finals berth in the Philippine Basketball Association (PBA) Philippine Cup. Their 3-1 lead is too daunting to topple. It’s like the proverbial Damocles sword hanging over the Meralco Bolts’ head.

But then, will Meralco give up the ghost without a

| Wednesday, October 13, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MAGNOLIA TARGETS

FINALS SEAT M AGNOLIA goes for the kill against a backagainst-thewall Meralco in Game Five of their best-of-seven semifinals duel in the Philippine Basketball Association Philippine Cup on Wednesday at the Don Honorio Ventura State University gym in Bacolor, Pampanga.

And Hotshots Coach Chito Victolero is asking his wards to be aggressive in closing out the series.

“It’s really hard to close a series, we need a lot of effort because the other team will be playing very aggressive to stay alive in the series,” Victolero said.

“But we’ve learned and we’ll just try to stay focused and recharged and refreshed.”

Magnolia is up 3-1 and will try to end the series at 3 p.m.

Expected to lead the charge for Magnolia are prime Best Player of the Conference candidate Calvin

NATIONAL women’s team Head Coach Patrick Aquino (left) appears in Tuesday’s forum with Camille Clarin (center) and Janine Pontejos.

HE Gilas Pilipinas women’s team will have its hands full as it competes in two major international tournaments, including defending its title in the Hanoi 31st Southeast Asian Games.

Coach Patrick Aquino said the grind begins in mid-November in the 2022 qualifying tournament for the Fiba Women’s World Cup set from February 6 to 14. The venue has yet to be named.

Aquino’s team that just came from the Fiba Asia Cup campaign in Amman, Jordan, is completing its mandatory quarantine but will immediately meet with top officials of the Samahang Basketbol ng Pilipinas (SBP) to discuss what is expected to be a busy calendar next year.

The 50-year-old national coach told the weekly online session of the Philippine Sportswriters Association Forum that he already had initial talks with SBP Special Assistant to the President Ryan Gregorio.

“The SBP is very supportive in our coming tournaments. And I’m very happy to hear that. We’re just waiting and looking forward, preparing all the plans and getting all the players for the tournaments again,” said Aquino, joined in the public sports

B8

Abueva, Mark Andy Barroca and Ian Sangalang.

Meralco coach Norman Black, however, had some good news on the eve of Game Five—Raymond Almazan has recovered from a knee injury and Trevis Jackson and Jammer Jamito are back after observing health and safety protocols.

“We just have to go out and play our best and get a win,” Black said.

San Miguel Beer, meanwhile, tries to get a 3-2 lead against a potentially shorthanded TNT Tropang Giga in Game Five of their own best-of-seven semifinals showdown.

But for Game Four hero Moala Tautuaa, it doesn’t matter whether TNT plays with a complete line-up or not during their 6 p.m. duel. What matters,

he stressed, is that they should play their best just like in their rout of the Tropang Giga, 11690, last Sunday that level the series at 2-2.

“We just have to keep our focus on the game. We just have to give our best whoever we play or whoever will perform at any given time,” the 32-year-old Tautuaa said.

The 6-foot-8 Tautuaa posted 25 points, 19 in the first half, and hauled down nine rebounds in Game Four.

TNT’s JP Erram (suspected fractured cheekbone) and Kelly Williams (health and safety protocols) are game day decisions for TNT.

BOSSING SHOPPING SPREE BLACKWATER acquired veteran playmaker Jayvee Casio and 6-foot6 power forward Kevin Barkley Eboñia from Alaska in in exchange for go-to-guy guard Mike Tolomia and the Bossing’s 2023 second round pick, Head Coach Ariel

Vanguardia said on Tuesday.

The trade, Vanguardia said, only needs the approval of the Philippine Basketball Association Commissioner’s Office.

Vanguardia has been rebuilding the Elite and got Rashawn McCarthy from Terrafirma for trigger happy Simon Enciso last September 28.

“I am a little bit excited about getting the missing pieces of our team,” said Vanguardia, stressing that 2011 top overall pick Casio would provide backcourt leadership and mentorship to the Bossing in the next conference.

“His experience with Gilas Pilipinas and the championship with Alaska are going to be beneficial for us in the long run,” he said. “I would like him to mentor Baser [Amer].”

“We got Eboñia because we do not have enough big guys after Kelly Nabong underwent a left knee surgery to remove some bone spurs,” he added.

He also acquired FilipinoAmerican guard Val Chauca from the free agency last month.

Blackwater lost all its 11 games in the Philippine Cup. Josef Ramos

YOUNG LIFTERS HONORED

Philippine Consul General to Jeddah Edgar Tomas Auxilian (sixth from left) and key Philippine Embassy officials in Saudi Arabia honor the young Filipino weightlifters who participated in the recent International Weightlifting Federation Youth World Championships in Jeddah. With Auxilian are Political/Economic/Protocol Officer Adnan Idris Tamano, Cultural Officer and Secretary Zubaida Sittie Murod-Malang, Lovely Inan (coach), Allen Jayfrus Diaz (coach), Rose Jean Ramos (athlete), Jeaneth Hipolito (athlete), Christian Rodriguez (athlete), Albert Ian Delos Santos (athlete), Adrian Cristobal and Vice Consul Alfred Kristoffer Guiang. Ramos won two gold medals (snatch and total lift) and one silver medal (clean and jerk) while Hipolito took home a bronze (snatch). would be good for team’s SEA Games title retention bid, recalling how the same routine helped the Filipinas to finally score a breakthrough gold in the regional showcase.

Aquino also said that he hopes the team will finally be allowed to play in the Asian Games to be held in Hangzhou, China, in September.

Winning the SEA Games, according to them, perhaps could be enough to convince Philippine sports officials to allow them to compete in the Asian Games.

“We deserve to be playing for the country in the Asian Games,” Aquino said.

The Philippines retained its spot in Fiba Asia Division A after rallying for a 74-70 win over India two weeks ago in Jordan.

fight, if not yield that easily?

How many times have we seen a team suddenly resurrecting itself from a rut, resurfacing from nowhere like horror stuff in the silver screen?

Never ever write off a foe till the last whistle is blown.

But be that as it may, take a glimpse of Game Four between Magnolia and Meralco on October 10.

If we use that as barometer to size up the situation of the two teams’ best-of-seven semifinal series, somehow, it would appear that the Hotshots, also known as the Pambansang Manok, are a cinch to seal the deal.

After yielding Game Three following their back-toback victories in Games One and Two, the Hotshots unleashed their much-vaunted fury two days later to easily manufacture a pivotal 81-69 Game Four victory.

That moved Magnolia up with a critical 3-1 lead—a lead that the Bolts know would be too massive to obliterate, given that Meralco’s one foot is in the grave already.

Thus, Meralco needing to win the last three games is a mission that is almost as impossible to reach as any dreamer’s unreachable star.

And, as for Magnolia, it’d be a disaster of tsunami proportions if the Hotshots eventually

PSC holds IP Games event in Sarangani

T

HE Philippine Sports Commission (PSC) diverse grassroots sports program continued amid the pandemic with a three-day pre-recording of the Indigenous Peoples (IP) Games in Sarangani.

Philippine Sports Commission (PSC) Commissioner and Project Head Charles Raymond Maxey led a small group in conducting the COMMISSIONER Charles Raymond Maxey turns over sports equipment to Malungon Mayor Ma. program under closed coordination Theresa Constantino. with Provincial Tribal Chieftain Fulung Edmund Pangilan and Municipal IP Mandatory Representative miss their bus to the Finals.

Makabatog Monard Galgo at the Lamlifew Village Now, as to the other semifinal duel between SMB and Museum and Blaan School of Living Traditions in TN T, Wednesday’s Game Five will practically put the Malungon, Sarangani. series in the line of fire.

The event was part of the Quincentennial For, whoever wins today will likewise put the loser’s Commemorations in the Philippines celebration that was back against the wall. supported by the National Commission on Indigenous Like Magnolia, San Miguel has the edge if we go by Peoples and Pocari Sweat.

Game Four’s character, where the Beermen literally “Filipinos’ awareness of traditional games and ripped the Gigas to shreds with a blitzkrieg typical of culture of the IP is a major accomplishment of the PSC,” SMB’s famous offensive that produced five successive Maxey said. “Focus and attention will now be provided All-Filipino titles ending in 2019. for diversities and equality.”

With SMB’s murderous 116-90 victory on Sunday, Traditional games by Blaam Indigenous Peoples like propped up ludicrously by 37-point margins several sfaltu (long jump), skuya kura (horse racing), sumpit and times, it’d be safe to say that that series-tying win could pana were in full displayed with Blaan elders performing be the Beermen’s bridge to get there again. kmisong (fire making) using coconut husk or dried wood As one pundit said it: “When SMB wills to win, it is coir and split bamboo. unstoppable as the force of nature.”

PSC officials were warmly welcomed by the Blaan Seems like it.

Indigenous Cultural Community through the indigenous

welcome dance called Aral Kafi (Blaan Eagle Dance) held THAT’S IT Alvin Patrimonio, the four-time PBA MVP, at the Kalonbarak Skyline Ridge in Malungon. is running for mayor of Cainta, Rizal. He is just one of so Maxey also distributed 500 basketballs, volleyballs many basketball players—retired and active—seeking and footballs to Constantino as well as 400 sets of abaca elective positions in the 2022 elections. Honest, decent and bags, bamboo notebooks, ballpens, personalized PSC God-fearing, Alvin will make a good mayor if he wins. notepads and face towels.