BusinessMirror September 15, 2021

‘PHL economy can weather Covid risks’

By Bianca Cuaresma @BcuaresmaBM

B

ANGKO Sentral ng Pilipinas (BSP) Governor Benjamin Diokno insisted that while the economy continues to be under pressure due to the effects of the global pandemic, its fundamentals remain solid enough to withstand the shocks.

The BSP chief said in a recent speaking engagement that manageable inf lation, stable banking sector, and robust external payments position, among other fundamentals, will support recover y and help keep the economic effects of the pandemic temporar y.

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“ The Philippines’s economic f undamenta ls remain sound.

W hile the pandemic poses challenges in the short term, the countr y continues to enjoy bright medium- and long-term growth prospects,” Diokno said.

In ter ms of inf lation, the governor said that while estimates point to a missed target this year, they are confident that prices will ease back toward the midpoint of the target band next year and in 2023.

“Manageable inf lation w ill continue to provide an enabling env ironment for investments and, therefore, job creation and income growth,” Diokno said.

In terms of banking sector

stability, banks in the country have kept their capitalization and liquidity buffers well above the regulatory requirements and their exposure to bad debts manageable throughout the crisis.

“As such, banks will remain capable of supporting growth of the economy,” Diokno said.

And on the country’s external accounts, the governor said the current buffers are sufficient to manage impact of shocks, including market reaction over pending move of the US Federal Reserve to normalize its monetary policy.

“Our external liquidity buffers continue to be more than adequate. Our hefty GIR[gross international reser ves], steady

inf lows from remittances and BPOs [ business process outsourcing], and recover y of exports and FDI [foreign direct investments] will support the peso,” the governor said.

Diokno also said that local economic managers are “ bent not on ly to rega i n over t he short term what was lost from the crisis” but also in “ building a new Philippine economy that is safer, stronger, more technologically advanced, and more inclusive.”

For its part, Diokno said BSP w i l l keep its pol ic y sett ings and regulator y relief measures supportive of the economy as needed.

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‘POLICIES STIFLING AGRI, MANUFACTURING MIRED ECONOMY FOR DECADES’

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OLICY distortions that have stifled the growth of agriculture and manufacturing made the Philippine economy dependent on the output of low-skilled labor, according to the country’s Chief Economist.

In his speech at the 7th annual public policy conference (APPC) webinar of the Philippine Institute for Development Studies (PIDS), Socioeconomic Planning Secretary Karl Kendrick T. Chua said these policy distortions were implemented over a span of 60 years.

Chua said this accounts for the current administration’s efforts to transform agriculture into the foundation of the country’s structural transformation post-pandemic.

“Instead of agricultural productivity paving the way [for] a labor-intensive manufacturing

Workers are back in full force at a construction site on Agham Road in Quezon City.

The Department of Labor and Employment recently rolled out its special vaccination program in Metro Manila with the allocation of vaccines for 452,000 workers in industries identified as critically important for the economy, including construction, manufacturing (semiconductors and electronics), tourism and hospitality, and exports. NONOY LACZA

By Bernadette D. Nicolas

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@BNicolasBM

TATE infrastructure spending as of end-July climbed by 42.6 percent year-on-year as more projects were implemented.

See “Infra,” A2

sector, then a capital-intensive manufacturing sector, and finally a high-skill services sector, a different path happened,” Chua said.

“Agricultural productivity remains largely depressed and manufacturing has not grown to potential. As a result, a lowskill services sector has emerged as the dominant sector in the economy. Employment shifted out from agriculture to the informal services sector, instead of manufacturing,” he added.

Efforts to address these policy distortions were done through the investment in social services and infrastructure, including the passage of the Rice Trade Liberalization Law and the Philippine Identification System or National ID program, he explained.

See “Agri,” A2

Big rebound for private construction in Q2

By Cai U. Ordinario @caiordinario

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RIVATE sector construct ion act iv it ies bou nced back in the second quarter of 2021 with a value growth of 194.3 percent compared to last year, according to the Philippine

Statistics Authority (PSA).

Dat a showed t he va lue of pr ivate constr uction reached P84.356 billion in the second quarter of 2021, higher than the P28.664 billion recorded in the same period last year, the height of mobility restrictions in the countr y.

However, there was a 3.65-percent contraction compared to the P87.55 billion recorded in the first quarter of 2021.

“The number of constructions in the second quarter of 2021 registered a total of 38,389, indicating an annual expansion of 114.1 percent.

This increase was faster than the

previous quarter’s annual growth rate of 4.7 percent,” the PSA added.

Data showed residential building constructions, valued at P43.79 billion, accounted for 51.9 percent of the total value of constructions in the second quarter of 2021.

See “Private,” A2

PESO exchange rates n US 50.0050 n japan 0.4546 n UK 69.2119 n HK 6.4276 n CHINA 7.7497 n singapore 37.2532 n australia 36.8487 n EU 59.0709 n SAUDI arabia 13.3325 Source: BSP (14 September 2021)

A2

Wednesday, September 15, 2021

BusinessMirror

BIR misses 8-month collection goal as ECQ reimposition bites

By Bernadette D. Nicolas

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P1.303 trillion it collected in the same eight-month period last year.

For the month of August, BIR’s collection settled at P172.7 billion, lower by 24.5 billion or 12.4 percent than its P197.2-billion target.

Likewise, it is also smaller by 8.09 percent than the P187.9 billion it

collected in the same month in 2020.

In August last year, Metro Manila and Bulacan, Cavite, Laguna, and Rizal were placed under a more relaxed Modified Enhanced Community Quarantine (MECQ) from August 4 until August 18. These areas were then placed under General Community Quarantine until the end of August last year.

Sought for comment, Finance Assistant Secretary Maria Teresa Habitan said the BIR missed its targets due to the recent reimposition of ECQ. To recall, Metro Manila was placed under ECQ from August 6 to 20 this year in a bid to address the rising cases of the contagious Covid-19 Delta variant. It was then placed under MECQ from August 21 to 31.

Other places, such as Laguna, Cagayan de Oro and Iloilo City were placed under ECQ from August 6 to 15 and later on placed under MECQ until August 31.

Despite the ongoing implementation of lockdown measures to avert the rising number of new Covid-19 cases, Habitan is confident the BIR will still hit its P2.081-trillion target this year.

“Habang may buhay, may pag-asa [While there’s life, there’s hope],” Habitan told the BusinessMirror in a message.

The government hopes to raise more revenues this year to cover the expected higher budget deficit. The Cabinet-level Development Budget Coordination Committee (DBCC) now projects this to reach a new record high of 1.86 trillion or 9.3 percent of the country’s GDP. The DBCC recently slashed its growth projection for the Philippine economy this year to 4 to 5 percent from 6 to 7 percent previously due to the reimposition of lockdowns.

If not for the recent surge in Covid-19 cases, the economic team said their original growth target of 6.5 to 7.5 percent could have been attainable.

PSA said residential constructions reached 27,375 or 71.3 percent of the total number of constructions in the second quarter.

This type of construction increased at a rate of 102.8 percent, a rebound from the 61-percent decline recorded in the same quarter of 2020.

“Majority—82.4 percent—of the total residential constructions were single-type houses,” PSA said.

Mea nwh i le, t he va lue of nonresidentia l constr uctions reached P32. 83 bi l l ion a nd accou nted for 38.9 percent of t he tot a l va lue du r i ng t he qu a r ter.

This translates to a 146.5-percent growth from the P13.32 billion value of non-residential construction in the same quarter of the previous year.

The data showed non-residential constructions, which accounted for 14.5 percent of the total constructions during the quarter.

This was a 119.2-percent growth from the same period of the previous year. PSA said 69.2 percent of the non-residential constructions were commercial buildings.

@BNicolasBM

HE reimposition of Enhanced Community Quarantine (ECQ) in August in several areas, including Metro Manila, prevented the Bureau of Internal Revenue (BIR) from hitting its collection targets.

Preliminary data obtained by the BusinessMirror showed BIR raked in P1.379 trillion from January to August this year, falling short of its P1.388-trillion goal by 0.65 percent or P8.99 billion.

However, this is still higher by 5.78 percent when compared with the

Private. . .

Continued from A1

T h i s a mo u nt r e p r e s e nt e d a 209.5-percent increase from the P14.15 billion total construction value in the same quarter of 2020.

Construction in 2020

PSA also released on Tuesday full-year construction statistics showing the value of construction activities declining 43.9 percent last year.

Data showed the value of construction activities reached P275.814 billion in 2020, significantly lower than the P491.81 billion recorded in 2019.

The decline in value was mainly due to the 28.5-percent contraction in the number of construction activities last year.

PSA said there were 123,783 construction projects in 2020, significantly lower than the 173,162 projects recorded in 2019.

In terms of value, data showed residential building constructions amounted to P131.08 billion, accounting for 47.5 percent of the total value in 2020.

This indicates a contraction of 42 percent from the P225.82-billion construction value posted in 2019.

Residential construction accounted for 70.6 percent of the total number of constructions in 2020.

Data showed 87,419 construction projects in 2020, a 29.7-percent decline from the previous year’s count.

Meanwhile, the value of non-residential buildings amounted to P124.96 billion or 45.3 percent of the total value in 2020.

This, however, ref lected a contraction of 46.4 percent from the P233.19-billion value of construction reported in the previous year.

In terms of number, there were 19,407 commercial construction projects which accounted for 15.7 percent of the total number of constructions in 2020. PSA said this represented a 27.2-percent decline from 2019.

The PSA’s construction statistics are derived from approved building permits.

The final annual data include additional approved building permits collected after the monthly cut-off date.

These approved building permits include new constructions; and additions to, and alterations and repairs of existing residential and non-residential buildings, and other structures which are proposed to be constructed in the different cities/ municipalities of the country.

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Infra. . .

Continued from A1

Latest data from the Department of Budget and Management showed the government disbursed P499.4 billion on infrastructure and other capital outlays from January to July, higher than P350.3 billion in the same period a year ago.

This was the main growth driver of overall government spending as of end-July this year which amounted to P2.58 trillion, up by 8.2 percent from P2.39 trillion last year.

The DBM attributed the uptick in infrastructure spending during the seven-month period to the implementation of projects by the Department of Public Works and Highways and other agencies.

Other expense items which boosted the growth in government spending are equity with the release of capital infusion under Bayanihan II, transfers to local government units, personnel services, interest payments, and tax expenditure subsidy.

For the month of July alone, infrastructure spending rose by 39.1 percent to P72.8 billion this year from P52.3 billion a year ago.

Among the infrastructure projects implemented during the period were the construction, repair, and rehabilitation of access, by-pass, and diversion roads, bridges, flood mitigation structures, and drainage systems, construction of multipurpose buildings, and payment for right-of-way.

Also contributing to the rise in infrastructure spending are disbursements for projects under the Revised Armed Forces of the Philippines Modernization Program of the Department of National Defense and accounts payable of the Philippine National Police for the delivery of information and communications technology equipment and other supplies.

Apart from state infrastructure spending, expenditures on personnel services also buoyed overall state spending for July.

Total government spending for the month reached P377.3 billion, inching up by 0.7 percent from P374.7 billion.

For this year, the government has programmed to increase its spending for infrastructure to P1.019 trillion, equivalent to 5.1 percent of the country’s GDP. Last year, it spent P869.5 billion on infrastructure, or 4.8 percent of the country’s GDP. The Cabinet-level Development Budget Coordination Committee also further raised the infrastructure program to P1.29 trillion in 2022. It will then slightly taper off to P1.28 trillion in 2023 following the updated projections for the National Tax Allotment and the block grant to the Bangsamoro Autonomous Region in Muslim Mindanao before reaching P1.35 trillion in 2024.

Agri. . .

Continued from A1

Chua said the RTL Law allowed rice to become more affordable. He noted that between 2017 and March 2019, rice was one of the top 10 contributors to inflation.

The National Economic and Development Authority (Neda) Chief said in 2017, rice was the 10th major reason for inflation while in 2018, the commodity became the 2nd top cause of the increase in prices.

Since the enactment of the RTL Law, however, rice prices have posted an average contraction of 2.6 percent in the past 28 months. In 2019, it posted a contraction of 3 percent; 2020, 2.6 percent; and in 2021, the year to date inflation of rice is -2.2 percent.

Chua said the country’s rice production increased to 3.5 million metric tons in the third quarter of 2020, posting 15-percent growth over the same period in 2019.

Through the RCEF and other programs, he noted, the rice sector produced 19.3 million metric tons in 2020—the highest in years.

“Moving forward, more are needed to improve the competitiveness of agriculture as well as other sectors through more cluster and value chain analysis,” Chua said.

National ID Meanwhile, Chua said problems in distributing social services during the pandemic fast-tracked the efforts to create the National ID. Chua said 51.2 million Filipinos or 71 percent of the total adult population did not have bank accounts. This has prevented, he said, a more efficient delivery of the cash assistance to millions.

If a single database such as what the National ID provides were available, the government would have been able to provide emergency assistance faster and more efficiently, he added.

“The pandemic underscored the need for unhampered access to banking and social services,” Chua said. “Institutional weaknesses posed a significant challenge in delivering assistance, causing some delays in the emergency response.”

As of September 10, over 42 million Filipinos have registered for Step 1 or the demographic data collection.

Moreover, despite the quarantines, almost 30 million have taken the second step to provide their biometrics in the registration centers.

The Annual Public Policy Conference (APPC) Public Webinar series is the main and culminating activity of the Development Policy Research Month (DPRM) headed by the PIDS. Cai U. Ordinario

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Editor: Vittorio V. Vitug • Wednesday, September 15, 2021 A3

DOJ issues ILBO vs Lao, 7 others; 9th order against Yang expected

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By Joel R. San Juan @jrsanjuan1573 & Butch Fernandez @butchfBM

HE Department of Justice (DOJ) has issued an Immigration Lookout Bulletin Order (ILBO) on former Department of Budget and Management’s Procurement Service (DBM-PS) Officer in Charge Lloyd Christopher Lao and seven others, in connection with the ongoing Senate inquiry into multibillion-peso personal protective equipment (PPE) procurements, and a ninth ILBO was expected to be issued against former presidential adviser Michael Yang.

Yang was the subject of a separate request given to Justice Secretary Menardo Guevarra on Tuesday morning in a letter by Blue Ribbon Chairman Richard J. Gordon.

Aside from Lao, also covered by the ILBO were lawyer Warren Rex Liong and Pharmally officials identified as Twinkle Dargani, Huang Tzy Yen, Krizle Grace Mago, Justine Garado, Linconn Ong and Mohit Dargani.

Liong, former legal consultant of President Duterte, is currently the Overall Deputy Ombudsman after being appointed by the latter in November 2020.

Secretary Guevarra also said he has received the letter of Gordon, chairman of the Senate Blue Ribbon Committee, requesting the DOJ to issue an ILBO on Yang, who is also under investigation by the Senate for allegedly brokering an P8-billion deal between the government and Pharmally Pharmaceutical Corp. for the delivery of Covid-19 supplies PPEs, face shields and face masks last year.

Guevarra said an ILBO would be issued against Yang on Tuesday.

“I have earlier released an ILBO addressed to the BI [Bureau of Immigration] covering the persons of Messrs. Lloyd Christopher Lao and seven others, as requested by Senate President [Vicente ‘Tito’] Sotto III,” Guevarra said.

The DOJ, however, reiterated that an ILBO is merely for monitoring and not a hold departure order (HDO), which would prevent the subject persons from leaving the country.

“It should be noted, however, that an ILBO is for monitoring purposes only, and it is not, in and of itself, a sufficient prohibition for a subject’s departure from the Philippines,” Guevarra pointed out.

As for those who are already out of the country prior to the issuance of the ILBO, Guevarra said, “The BI will make proper arrangements for monitoring the subject’s travel movements abroad.”

The issuance of the ILBO against

Yang, Lao and the other individuals are in connection with the ongoing investigation of the Senate Blue Ribbon Committee on the 2020 Commission on Audit (COA) Report and other issues related to budget utilization of the Department of Health (DOH), particularly in the fight against Covid-19; inquiry into the procurement of Covid-19 vaccines by local government units and the private sector; payment claims between PhilHealth and private hospitals; and on the privilege speech of Sen. Risa Hontiveros entitled “Mandate of the COA/ Incompetence of the DOH.” The DOJ found the “gravity” of the subject of investigation in aid of legislation sufficient to warrant the issuance of an ILBO on the persons under investigation.

“In view of the gravity of the matters subject of the Senate Blue Ribbon Committee hearings, ‘as the issue involved is of national interest, and considering the possibility that the aforenamed individuals, may

attempt to place themselves beyond the reach of the legal processes by leaving the country, this department deems the issuance of an Immigration Lookout Bulletin Order against them prudent in order to monitor the itineraries of their travel and/or their whereabouts, should they attempt to leave the country,” the order read.

The possibility of Yang’s fleeing the country emerged after the businessman, whom President Duterte called his friend, skipped Monday’s sixth Blue Ribbon hearing on the COA 2020 Report on “deficiencies” in the DOH management of over P62 billion in pandemic response funds last year.

Yang had earlier evaded two subpoenas from the Senate, but attended the September 10 hearing virtually from Davao. However, after senators affirmed a contempt citation on him late Friday for giving “evasive” answers as he distanced himself from Pharmally Pharmaceutical Corp., Yang called in sick for Monday’s hearing, as conveyed through lawyer Raymond Fortun.

Military assures safety, security of foreigners in PHL after Japan terror attack warning in SEA countries

By Rene Acosta @reneacostaBM

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HE military assured on Tuesday the safety and security of Japanese and other foreigners in the country following the warning of the Japanese government for its citizens in the Philippines and five

other countries in Southeast Asia to be wary of possible attacks.

“We ensure that all citizens, Filipinos or not, as long as they are within our territory, are protected and kept safe from terrorists’ threats,” the Armed Forces of the Philippines (AFP) said through its spokesman Ramon Zagala.

The Japanese foreign ministry warned on Monday its citizens in Southeast Asia, including in the Philippines, Indonesia, Malaysia, Singapore, Thailand and Myanmar to be mindful of possible terrorism without elaborating.

The Japanese government, without citing sources, said it had ob-

tained information about the “increased risks” of attacks in Southeast Asia “such as suicide bombings,” a warning that puzzled security officials in the region.

Still, the military is not taking Japan’s warning lightly, although according to Zagala, they have not receive any report yet about the

threats of terrorism and other attacks, especially against Japanese citizens in the country.

“We take seriously all received reports that pertains to security matters, especially on terrorism. We constantly validate all reports on security matters and it is a continuous process,” the military spokesman said.

Zagala said that based on the military’s last review of the threat level in the country, it is categorized as “moderate.”

He said the military is sustaining its campaign against all forms of terrorism and violence in the country through an intensified internal security operations.

A4 Wednesday, September 15, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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PHL unfazed by delays in delivery of rice imports amid record yield

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Philippines, the world’s second-largest importer of rice,

has approved the importation of 3.844 million metric tons (MMT) of the staple as of end-August, but total shipment arrival is less than half of the volume applied by

traders and importers.

Latest Bureau of Plant Industry (BPI) data showed that the agency approved 4,091 sanitary and phytosanitary import clearance (SPSIC) for rice imports from January to August, corresponding to a total volume of 3.844 MMT. The approved volume for importation during the eight-month period was 2.86 percent lower than the 3.737 MMT approved by the BPI to import in the same period of last year.

BPI data showed that Elite Impex Distributor Inc. led all registered rice importers and traders in terms of applied rice import volume with 247,560 MT (220 SPS-ICs) followed by Nan Stu Agri Traders that was able to secure 232 SPS-ICs with a corresponding volume of 158,392 MT. However, BPI data showed that despite the increase in applied import volume, the total rice import

arrival from January to August fell by 1.13 percent to 1.66 MMT from 1.679 MMT recorded in the same period of last year.

BPI data showed that 127 eligible importers and traders imported rice from 13 countries including Vietnam, Thailand, Singapore, China, India, Italy, Pakistan, among others.

Vietnam remained as the country’s top rice supplier during the eight-month period at 1.444 MMT followed by Myanmar at 120,908.9 MT, based on BPI data.

Davao-based Nan Stu Agri Traders led all importers in terms of import arrival as the company brought in 87,812 MT of staple during the eight-month period, based on BPI data. Lucky Buy and Sell, another Davao-based importer, was the second-largest importer of rice from January to August with a total import volume of 84,724 MT, based on BPI data.

The United States Department of

Agriculture (DA) has maintained its rice import forecast for the Philippines at 2.1 MMT for this year and next year, making the country the second-largest buyer of the staple for three consecutive years.

The country’s rice imports this year declined on the back of recordlevel domestic rice harvest coupled by logistical problems due to global shipping problems such as lack of containers and vessels as well as high freight costs.

The BusinessMirror earlier reported that the National Economic and Development Authority (Neda) is growing wary of shipment delays affecting the country’s rice imports.

Neda Undersecretary Mercedita A. Sombilla said they are monitoring the stretching delays in the country’s rice imports, a result of the global shipping problem arising from lack of vessels and containers and Covid-19-related mobility

restrictions, but industry players and experts dismissed its possible adverse impact on the country’s supply of the staple.

Shipping industry players confirmed to the BusinessMirror that they are observing delays in the arrival of imports from Southeast Asian countries, including Vietnam, the country’s top rice supplier.

International reports are also noting a mounting pressure on Vietnam’s logistics system with port operations, such as loading and unloading of goods, being affected by the rising Covid-19 outbreaks in Ho Chi Minh City that has spread to southern provinces as well.

However, industry watchers and experts pointed out that the Philippines’s rice supply would not suffer any serious damage—or even the slightest impact—from Vietnam’s logistical problems as the country is on-track to hit record palay harvest of 20 MMT this year.

New ALS to restore NCR’s revenue uptake–DTI chief

By Tyrone Jasper C. Piad

@TyronePiad

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HE Department of Trade and Industry (DTI) sees the return of P180 million worth of revenues in the National Capital Region (NCR) per week with the implementation of the new Alert Level System (ALS) for community quarantine.

Trade Secretary Ramon M. Lopez said at a Palace briefing on Tuesday that allowing 30-percent outdoor and 10-percent indoor capacity for restaurants and personal care services will allow the economy to recoup about 12 percent of the estimated weekly revenues of P1.5 billion.

In addition, he expects about 150,000 to 200,000 jobs recovery, both coming from formal and informal sectors. The trade official noted there are about 1.2 million workers in the restaurant and personal care industries in the NCR. The said sectors should have been closed, Lopez said, but the Covid-19 InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF) requested for partial opening to allow the return of the jobs.

“The only way na makumbinse ang IATF at ang ating mga health expert ay talagang isang maingat na pagbabalik lalo na kapag pinagusapan ang indoor kaya doon lamang kinonsider ’yung having that distinction of vaccinated,” he said.

The 30-percent outdoor capacity is allowed regardless of the vaccination status

while the 10-percent indoor capacity is only for fully vaccinated individuals.

According to the IATF, Metro Manila is under Alert 4—a notch below the most restrictive Alert 5—by September 16.

In general, Lopez said that the ALS given its adjustments in the community quarantine measures, referring to granular lockdowns, would allow more businesses to reopen amid the pandemic.

The DTI official, in addition, explained that the new community quarantine guidelines would also allow areas under lockdown to cope better, as this include other parameters such as health-care utilization.

As such, Lopez said the alert level can be brought down, which eases mobility restriction.

Lopez, meanwhile, said the DTI continues to extend assistance to the affected businesses, extending livelihood kits for over 50,000 entrepreneurs nationwide.

“Bigyan natin ng maliit na puhunan para ho may pagkikitaan sila imbes na ibigay po ’yung P8,000 o P10,000 para sa consumption,” he said.

The DTI is yet to finalize its new report about the micro, small and medium enterprises in the country amid the pandemic.

However, he observed that businesses that shutdown shifted to new ventures that can thrive amid the mobility restrictions.

These include delivery services and online selling, he cited.

Resto owners back proposal for vaccine passport program

By Claudeth Mocon-Ciriaco @claudethmc3

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TRESSING that it would serve as the “wheelchair” for their disabled industry, Restaurant Owners of the Philippines (Resto PH) group President Eric Teng on Monday expressed support to a Senate bill seeking to create a vaccine passport program.

During the Senate Committee on Finance, joint with Health and Demography, Teng stressed that Covid-19 has disabled businesses and that the vaccine passport will be a safer way to “manage our doors.”

“Indeed a vaccine passport will be a vital safety wheelchair for our disabled industry.

We are eager to help and be part of the government’s application of the new vaccine passport system,” Teng said, adding that as a sector they are one with the nation in living with Covid, allowing even cautiously reopening of their sector “while we, as a nation, and civil society endeavor to save lives.”

During the discussion, Sen. Pia S. Cayetano noted that vaccine passports are currently being used by other countries to open up their economy.

The Senate bill, which was introduced

by Cayetano, Senators Franklin Drilon and Sonny Angara, has cited that world wide, several countries, such as Brunei, Canada, China, countries in the European Union (EU), the United Arab Emirates, and the United Kingdom, have implemented their vaccine passport/card/certificate programs to “facilitate safer transborder travels given that international and, in some instances, local

travel remain highly restrictive.”

Cayetano stressed that the vaccine passport shall serve as “proof” that a person has been vaccinated and may allow them benefits or exemptions from restrictions to be determined by the lnter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF).

She added that this would help reopen the economy by allowing mobility and encourage others to get vaccinated.

Likewise, inbound quarantine regulations, which provide different rules for individuals depending on their vaccination status, have been put into effect by several countries as well.

“Because of this, there are reports that a global system for the international recognition and validation of vaccine passports is under development,” Cayetano said.

A vaccine passport, the bill stressed, also helps to open businesses and establishments, restarting economic and cultural activity.

“Expanding on the Covid-19 vaccine cards provided in Section 12 of Republic Act 11525 or the Covid-19 Vaccination Program Act of 2021, a Vaccine Passport Program can help facilitate the country's vaccination efforts,” the bill stated.

The bill shall further provide the government with a means to monitor distribution of the vaccines, including post-market surveillance. Having a Vaccine Passport is proof that an individual has received the vaccines, and may allow him/her benefits or exemptions from Covid-19 restrictions as may be provided by the IATF.

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Banking&Finance

Revised Veterans Bank charter gets Senate OK

By Butch Fernandez @butchfBM

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HE Senate, in a unanimous vote, passed on third and final reading a bill revising the Philippine Veterans Bank’s charter, expanding benefits to cover relatives and heirs of World War II veterans.

Voting 23-0 Monday, Senators approved Senate Bill (SB) 2368 entitled as “An Act Providing for the Revised Charter of the Philippine Veterans Bank, Repealing for the purpose Republic Act [RA] 3518.”

Senator Grace L. Poe, chairman of the endorsing Committee on Banks, Financial Institutions and Currencies, acknowledged the unanimous support paving the way for timely passage of the long-awaited bill that, she noted, should have been enacted earlier to benefit “not just World War II veterans but even those who are still fighting for our safety and country.”

She recalled that the Philippine Veterans Bank was created in 1963 under RA 3518 and was last rehabilitated in 1992 under RA 7169.

Poe pointed out “it is high time the charter be revised” to reflect changes that happened during the half-century of its existence and “pay tribute to our heroic veterans and advance the constitutional mandate of providing immediate and adequate care, benefits and other forms of assistance to our war veterans and their surviving spouses and orphans.”

She assured that SB 2368 provides “immediate and adequate benefits and other forms of assistance to all Filipino war veterans and the retired military personnel, including their surviving spouses, orphans, and compulsory heirs in recognition of the patriotic services in times of war and

peace for the cause of freedom and democracy.”

Poe noted that apart from expanding the definition of veterans, the measure also seeks to increase the bank’s capitalization, and some provisions to make it compliant with the Revised Corporation Code and other pertinent laws.

The Senator clarified that among the corporate powers and duties of PVB are: to carry on a trust business subject to compliance with pertinent provisions of laws and in accordance with the applicable Bangko Sentral ng Pilipinas (BSP) rules and regulations; to grant loans and advances in accordance with RA 8791, otherwise known as “The General Banking Law of 2000,” and the BSP rules and regulations; and, to invest in stocks and other investment instruments in accordance with RA 8791 and central bank rules and regulations.

As provided in Poe’s bill, the capital stock of the PVB shall be P10 billion divided into 75 million common shares and 25 million preferred shares with a par value of P100 each.

“The Board of Directors and stockholders are hereby authorized to increase the authorized capital stock and provide the features of preferred shares, subject to pertinent laws and BSP and Securities and Exchange Commission [SEC] rules and regulations,” the measure stated.

Moreover, the bill defines the term “veteran or veterans” as including “the widow, orphan or a compulsory heir of a deceased veteran, as determined by existing laws.”

Post-WWII veterans and Armed Forces of the Philippines retirees shall enjoy the benefits and privileges after they have invested in the Veterans Bank, the measure added.

BusinessMirror

Editor: Dennis D. Estopace • Wednesday, September 15, 2021

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Sold reissued T-bill rates up on expected higher inflation

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By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury raised P35 billion in its successful auction last Tuesday of reissued 10-year Treasury Bonds (Tbonds) despite the uptick in rates.

Investors swamped the auction, which ended up nearly twice oversubscribed as total bids for the tenor reached P61.83 billion.

With a remaining life of 9 years and 10 months, the debt paper is set to mature on July 22, 2031. Its coupon rate is at 4 percent.

The T-bonds fetched an average

rate of 4.246 percent, jumping by 33.2 basis points from the previous auction’s 3.914 percent.

National Treasurer Rosalia V. De Leon attributed the surge in rates to “renewed inflation concerns” after the country’s inflation print for August surged to a two-year high of 4.9 percent. This is the highest since

December 2018 when inflation was at 5.1 percent.

Nonetheless, De Leon said they still decided to open the tap facility for an additional P5 billion offering to government securities eligible dealers-market makers.

For this month, the Treasury is set to borrow a total of P250 billion from the local debt market, higher than the P200 billion program in August.

Broken down, P175 billion will be raised through auctioning off Tbonds while the remaining P75 billion will be generated via the sale of T-bills. This year, the national government programmed to borrow a total of P3.1-trillion, most of which is expected to be raised through domestic sources.

The government borrows to meet its spending requirements as well as

to finance its budget deficit.

The economic team sees the national government’s budget deficit this year to reach P1.86 trillion or 9.3 percent of GDP, even higher than the P1.37 trillion or 7.6 percent of GDP in 2020. In 2019, the budget deficit stood at P660.2 billion or 3.4 percent of GDP. Also, the national government’s outstanding debt this year is also expected to reach by the end of this year to balloon to P11.73 trillion, up by 19.8 percent from P9.795 trillion in 2020. This is also projected to further swell in 2022 to P13.42 trillion.

As of end-July this year, the national government’s outstanding debt has already piled up to a new record-high of P11.61 trillion, swelling by 26.7 percent from P9.16 trillion a year ago.

Group urges govt to use IMF cash fall vs Covid-19

By Cai U. Ordinario

@caiordinario

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HE national government should allocate the $2.78 billion it will receive from the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) to improve its pandemic response, according to nonprofit group Action for Economic Reforms (AER).

The AER said the amount can be used “without any strings attached” for pandemic response. This can then be used to provide ayuda and purchase additional essential health items, the organization said.

The AER said this should also be accompanied by efforts to reallocate funds for ayuda. They noted that the “huge counter-insurgency and intelligence funds” may no longer be

needed given that the “insurgency is weak.”

“The IMF leadership decided to credit the SDRs to all its member countries towards boosting global liquidity and helping countries, especially developing ones, obtain the funding for their pandemic response.

Actually, the Philippine government owns the SDRs equivalent to $2.78 billion,” AER said.

“And the amount can be used without any strings attached for the government to spend for fighting the pandemic. We thus propose that the amount of $2.78 billion be earmarked for additional essential health items and for ayuda,” it added.

The organization said this is important since opening up the economy cannot yet be done due to the

surge in Covid-19 cases. Imposing a stricter lockdown nationwide to avert the rise in cases.

The ayuda for workers will help Filipinos comply with the stricter lockdown rules and prevent them from growing hungry. AER said currently, cases continue to rise because the lockdown in effect was “porous.”

Further, the government is not financing human health resources, testing, contract tracing, quarantine facilities, medicines and supplies, and relief for the hungry and unemployed.

“We thus ask the government to urgently execute temporary stricter restrictions on mobility. This is a necessary step towards the recovery of our health system,” the AER said.

“This will also facilitate economic

recovery. But for this to be fully effective, the government must be able to overcome its deficiencies in the past,” it added.

The AER said a strict lockdown will help slow the spread of the Delta variant of the coronavirus, and ease the heavy burden faced by our health workers and the whole health system.

They noted that cases were surging not only in the National Capital Region but in the provinces. This requires the implementation of a stricter lockdown nationwide.

The AER noted that countries that are able to contain the pandemic through strict quarantine measures combined with decisive health interventions and ample economic aid are the first to recover jobs, investments and growth.

Schools seek tax bill OK as enrollment rate drops 66% Security Bank Foundation turns

By Claudeth S. Mocon-Ciriaco @claudethmc3

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ITH enrollment for basic education plunging by 66 percent, private school associations expressed hope the Senate will expedite the approval of a bill that aims to rectify a Bureau of Internal Revenue regulation imposing a 150-percent increase in taxes.

Officials of the private schools said in a joint statement they urge Senate Committee on Ways and Means Chairman Senator Pia Cayetano and senators to expedite the passage of Senate Bill (SB) 2272, “in order to rectify with finality the flawed interpretation of a provision under the Corporate Recovery and Tax Incentives for Enterprises [Create] Act.” The statement, signed

by Coordinating Council of Private Educational Associations (Cocopea) Chairman and Philippine Association of Colleges and Universities (Pacu) President Anthony Jose M. Tamayo and Cocopea Managing Director Joseph Noel M. Estrada, noted the flawed interpretation was set in Revenue Regulation (RR) 5-2021 by the Bureau of Internal Revenue (BIR).

Introduced by Sen. Juan Edgardo M. Angara, SB 2272 amends Section 27(B) of the National Internal Revenue Code (NIRC) of 1997.

Cocopea and Pacu noted that BIR RR 5-2021 imposes a 150-percent increase in the corporate income of private educational institutions and deprives them of “the much-needed tax relief intended by the Create law’s authors in both the Senate and the House of Representatives.”

Critical state

TAMAYO and Estrada, who are both lawyers, said the education sector “is in [a] critical state” as it starts a new school year.

The officials said that based on the “quick count” data of the education department’s Learner Information Sys-

tem as of September 13, enrollment in private schools in basic education for school year (SY) 2021 to 2022 is only at 1.443 million. This figure is down 57 percent from the 3.376 million enrollment in SY 2020 to 2021 and down 66 percent from 4.305 million in SY 19-20 before the pandemic.

They added that most private schools won’t be expecting a substantial increase on these numbers from late enrollees, “as classes in public schools also begin and many private school students were expected to transfer.”

According to a Cocopea survey, more than 80 percent of respondents reported that the economic difficulties of students and their families, and the resulting migration to public schools, state and local universities and colleges are the main drivers of the decline in enrollment. More than 250 member schools participated in the survey.

“To cope with the steep decline in enrollment, 71 percent of respondent schools are considering the implementation of a ‘no work, no pay’ scheme,” the survey revealed. About 64 percent are considering the retrenchment of employees to remain afloat, the survey results bared.

In addition, 55 percent in the survey are considering closing their schools.

These closures would be in addition to the 865 private schools that suspended their operations last school year, as reported by the Department of Education.

More lay-offs

REP. Joey Salceda, chairman of the House Committee on Ways and Means, earlier said the income tax increase sought in RR 5-2021 represents about 5.72 percent of compensation income.

Salceda said applying the tax hike could force the already dwindled private education labor force to shed another 21,661 from the 378,637 jobs in the private schools.

On the other hand, applying the Create rate of 1 percent until 2023 would

allow these schools to save an equivalent of 3.43 percent of compensation expenses, which could help them rehire at least 12,996 teachers at the start of this school year, the lawmaker has said.

To survive from the health and economic crisis, the private education sector has initiated all possible measures for the continuity of school operations, Cocopea and Pacu officials said.

“It is amidst these dire circumstances, and the country’s ongoing learning crisis, that we renew our appeal for the immediate passage of this most important legislative intervention, SB 2272, so that our member educational institutions can give full focus to delivering quality education for our learners, who we must develop to be the future leaders and workforce of our country,” the private school associations said.

over classrooms to Cebu school

Complementary role

THE Cocopea and Pacu said through Tamayo and Estrada that “the country’s human capital depends on the quality of education our learners receive from both public and private educational institutions.

“This is a complementary role that must be strengthened and will prove critical for recovering from the pandemic, and sustaining Philippine economic growth and global competitiveness,” the organizations added.

The private school groups said that “cognizant of the tight timeline,” SB 2272 will be passed into law this month before Congress goes on a break in October for the filing of candidacies for the 2022 national elections.

“The millions of stakeholders of the private education sector and the linked ecosystem that depend on the continuity of our schools, would be deeply grateful to the Senate for its swift and conclusive correction of RR 5-2021’s erroneous interpretation of the Create Act, which the Senate and the House clearly intended to provide relief to the private school sector amidst the devastating pandemic,” they concluded.

Danao City Department of Education Schools Division Superintendent Leah P. Noveras (center right) reads the building marker and tells Security Bank Danao Branch Business Manager Christo Rey Abayon (center left) how the structure will help the division achieve its vision of quality education. Joining them were DepEd Schools Division Supervisor for Danao Helena L. Almancen (far left) and Sabang Elementary School Principal Jose M. Buot (far right). Photo courtesy Security Bank Corp.

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ANAO City, Cebu—The corporate social responsibility arm of Security Bank Corp. announced the turnover of a 2-storey, 8-classroom school building to Sabang Elementary School last August 24.

The school building donated by the Security Bank Foundation Inc. (SBFI) will reduce the classroomto-student ratio in SES from prepandemic ratio of 1:50 to 1:35, which is the ideal class size. The SBFI said it took advantage of the suspension of face-to-face classes to complete the construction.

“Having a conducive, safe, and motivating learning environment spells out my personal vision of quality education. This school building translates that vision to reality,” Leah Noveras, De-

partment of Education (DepEd) Schools Division Superintendent of Danao City, Cebu, was quoted in a statement as saying.

More than being havens for learning, classrooms also play critical role in building lifelong memories, which the current batch of students is missing with the distance learning delivery, according to SBFI. “Among my fondest memories and lasting friendships happened in school buildings. School buildings are also about memories that you treasure and friendships that we are so blessed to have,” Danao City Mayor Ramon D. Durano III was quoted in the statement as saying.

SBFI said it traces its “strong focus on education” to 2011, the

60th anniversary of Security Bank, when SBFI was made aware of the shortage of classrooms in public schools across the country.

“We believe that education is the greatest equalizer in life for it will give every person the opportunity to succeed in life, no matter what his or her social and economic background may be,” SBFI Chairman Rafael F. Simpao Jr. was quoted in the statement as saying. “Hence, it has been our commitment to ensure that Filipino students will have access to quality education through our education programs.”

By the end of the year—the bank’s 70th—SBFI would have donated 701 classrooms in 124 schools located in 69 cities and/ or municipalities.

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Wednesday, September 15, 2021

Briones defends proposal for F to F classes in House budget hearing

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By Jovee Marie N. Dela Cruz

@joveemarie

HE Department of Education (DepEd) on Tuesday assured the public that the agency has consulted several experts, institutions and agencies for the pilot implementation of face-to-face (F to F) classes.

During the hearing on DepEd’s P630.8billion budget proposal for 2022, Education Secretary Leonor Magtolis Briones also assured that they would not implement the limited F to F classes without the consent of parents and the local government units (LGU).

She said DepEd wants to hold pilot limited F to F classes in some 120 schools in areas where there is low Covid-19 risk.

“If we talk about blended learning, we also talk about face-to-face classes. For more than a year, we already anticipated this problem, as early as last year,” she said.

“Last Friday, I presented once more our proposal [to President Duterte] for 100 public schools and 20 private schools for the pilot testing of the face-to-face,” she added.

According to Briones, President Duterte has reacted positively to the proposal and he is expected to give his decision “very soon” taking into consideration the new variants of Covid-19.

“These decisions that we have made are not the decisions of the DepEd alone… these were done with strict consultations with various institutions, experts on children’s health, Department of Health [DOH] and the Inter-Agency Task Force for the Management of Emerging Infectious Diseases [IATF]. [And we think] the prospect of face-to-face classes is quite optimistic on the part of the Philippines,” she said.

Briones said the DepEd and other agencies agreed to only implement F to F classes with consent of LGU. “Not all LGUs would favor face-to-face since they know what is happening in their areas,” she said.

The secretary also said the agency will secure written consent of the parents for the physical classes.

“Sometimes, we assume that all parents want face-to-face but there are parents who are afraid of face-to-face with [the increasing] Delta variant cases,” she added.

Briones likewise assured that school facilities are appropriate for physical classes.

“We have to be appropriate for face-toface, the requirements have to comply with requirements for face-to-face such as social distancing, availability of water and medicines, quick response from DOH, classes have to be approved by DOH and IATF... that we agreed on,” she added.

Briones added that stringent health and safety standards should be followed at home, during travel to and from the schools, and within school premises.

She said the agency is continuously coordinating with national and local authorities and health experts, parents, teachers and service providers.

Citing latest data, Briones, meanwhile, said a total of 25,582,224 students have enrolled so far for school year 2021-2022.

The number represents 97.5 percent of last year’s total enrollment of 26,227,022.

“We expect to match last year’s performance in enrollment. It’s a traditional practice to extend enrollment. We are extending enrollment up to the end of the month of September,” Briones said.

After claiming the past school year amid pandemic as a “success” by the DepEd, Kabataan Rep. Sarah Elago, for her part, said that the agency remains “severely unprepared” to ensure quality learning and the right to education for many Filipinos.

“The DepEd says that 658 schools are mapped out to be areas under minimal risk for Covid-19, yet they only included 120 schools in their proposal to allow limited face-to-face classes, a far cry from the real number of face-to-face ready schools.

Sinabi rin ni Secretary Briones na matagal nang pinaghahandaan ang pagbubukas, so bakit di natin ipaglaban sa Malacañang?” said Elago.

“There are lack of funds and explicit programs for ‘ligtas na balik eskwela’ as reflected in shortchanged efforts to Covidproof facilities with the budget for priority school health facilities being only intended

by DepEd for just small projects such as hand-washing stations, toilets, and the like,” she added.

Bongbong Marcos reminds DepEd: Error-free modules this time please

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ITH the opening of classes in public schools on Monday, former Senator Ferdinand “Bongbong” Marcos Jr. has expressed hope that the Department of Education (DepEd) has ensured that the modules to be used for the blended learning would be error-free.

A combination of online learning and printed materials or self-tutoring modules remained the mode of educational instruction being adopted by the DepEd for SY 2021-2022 as Covid-19 infection surges across the country.

Marcos pointed out that students have already complained of learning less last school year when the learning method was first adopted due to the pandemic and having erroneous modules would only contribute more to the deterioration of the country’s educational standards.

“Hindi na nga sila natututo nang husto dahil sa mga problema sa Internet connectivity at mga distractions that they may also have to contend with in their homes, kung ’yung mga modules na nagsisilbing textbooks nila, eh, mali-mali pa, aba’y lalong hindi matututo

ang ating mga kabataan,” he stressed.

An undersecretary of the DepEd has admitted that from October 2020 to June 2021, there were 163 reported errors in the learning materials used during the previous school year. Of these reported errors, 155 were confirmed to have followed validation by the DepEd. The former senator said DepEd should have created committees tasked to review and edit learning materials to ensure that they’re well-written and prevent a repeat of last school year’s fiasco.

The DepEd has received criticisms following numerous complaints that the modules were written without regard to grammar, logic and consistency. The DepEd has defended, though, that majority of the errors were in learning materials produced at the regional level.

“Kahit pa sa mga region ginawa ’yung learning materials, dapat merong komite na nagrereview sa mga ito. Paano magiging educational materials ’yung mga modules kung mali-mali?

Dati sa textbooks, meron nang ganyang issue, wag naman na sanang maulit dahil kawawa ang mga bata,” Marcos stressed.

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Wednesday, September 15, 2021

TheWorld BusinessMirror

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

China locks down Xiamen City T to control Covid Delta outbreak

Japan, US and South Korea discuss North Korea day after missile launch

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hina locked down a coastal city of 4.5 million people to halt an outbreak of the Covid-19 Delta variant after it detected a dozen cases.

Residents of Xiamen, in the southeastern province of Fujian, are banned from leaving other than in exceptional circumstances. The city, a manufacturing hub for electronics from companies including ABB and Schneider Electric, closed off all residential compounds, while cinemas, bars, gyms, and libraries halted business.

An all-star panel of scientists from around the world cautioned that most people won’t need a booster shot because vaccines are performing well. That view was backed up by the World Health Organization’s Covid-19 envoy, who warned that low vaccination rates outside rich countries make vaccine-evading variants increasingly likely.

Key developments:

Canberra extends lockdown by 4 weeks

Australia’s capital Canberra will extend its lockdown until at least October 15, after recording 22 new cases of Covid-19 Tuesday.

The territory entered lockdown in early August after detecting one Covid-19 case, as the Delta outbreak that’s roiling Sydney spread.

Residents of Canber ra, Melbour ne and Syd ney, tota l ing almost half the Australian popu lation, are a l l endur ing prolonged lockdow ns as health author ities scramble to increase

the vaccination rate before easing restrictions. New South Wales, the most populous state, recorded an additional 1,127 cases, decreasing the 7-day moving average to its lowest in a week.

Japan Finance minister calls for easing of restrictions

Finance Minister Taro Aso told reporters that the government should ease restrictions to contain the virus as the economy can’t grow unless consumers are able to spend more. He said companies also needed to hand a greater share of their earnings to workers for the economy to grow and should use the growing pile of retained profits for investment.

Thailand to boost domestic travel

Thailand’s government is expected to start its stimulus programs to boost domestic travel on October 15, Tourism Minister Piphat Ratchakitprakarn said Tuesday. He reiterated plans to open five key provinces, including the capital Bangkok, to foreign tourists from October 1, with 21 provinces to follow October 15.

He said rising coronavirus cases in Phuket stemmed from active case detected in migrant workers and fishery workers, which should be dealt with by the end of September.

Thailand reported 11,786 new

infections on Tuesday, the lowest single-day increase since July 20.

The infection count has dropped in recent weeks and the government is gearing up to reopen more provinces to vaccinated visitors and more businesses next month. It’s accelerating its vaccination drive in key regions, including the capital Bangkok. More than 95 percent of residents there have received their first shot and 36 percent are fully inoculated, compared to about 38 percent and 17 percent nationwide.

France cites J&J breakthrough infections

France has experienced what its health regulator ANSM called an “important number” of breakthrough cases among those who received Johnson & Johnson’s vaccine. France, which has administered about 1 million doses of J&J’s Janssen vaccine so far, has seen 32 breakthroughs, 29 of which were severe cases, according to a report from ANSM Monday. Four people died of Covid-19 after getting the vaccine, the regulator said. ANSM is conducting further investigations.

Italy to start giving third doses next week

Italy will start administering third doses of Covid-19 vaccines to its most vulnerable citizens starting September 20, the country’s virus emergency czar said on Monday.

Indonesia eases curbs as infections slow

Indonesia eased virus restrictions further as it reported the fewest new cases since May, which was before the spread of the Delta variant led to its worst outbreak.

Restrictions will be relaxed in

more areas across the country, including in Bali, with cinemas allowed to reopen with 50 percent maximum capacity for some cities.

There were 2,577 new cases confirmed on Monday, the least since May 15. Deaths have also eased, with 276 fatalities reported on Monday, compared with the threemonth low of 188 on Sunday.

Scientists cautious on vaccine boosters

Covid-19 vaccines work so well that most people don’t yet need a booster, an all-star panel of scientists from around the world said in a review that’s likely to fuel the debate over whether to use them.

Governments would be better served to focus on immunizing the unvaccinated and to wait for more data on which boosters, and at what doses, would be most effective, the authors, who included two prominent US Food and Drug Administration experts, argued in the medical journal The Lancet.

WHO envoy warns of risk of variants

Variants that can eventually evade Covid vaccines are increasingly likely with vast parts of the world unprotected, and rich countries should hold back on booster doses until others catch up, according to a special envoy to the World Health Organization.

“Variants that can beat the protection offered by vaccines are bound to emerge all over the world in the coming months and years,” David Nabarro, the WHO envoy, said in an interview Monday with Bloomberg Television.

“This is an ongoing battle, and we need to work together.”

Bloomberg News

UK approves vaccines for 12-15s, aims to avoid Covid lockdowns

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ONDON—Britain decided Monday to follow other countries in offering coronavirus vaccines to children 12 and up, as the government gambled that expanded vaccination and mild tweaks to social behavior can avert the need for lockdowns in the winter.

Vaccinations for children and booster shots for at-risk adults are part of a “tool kit” to control Covid-19 infections this fall and winter that Prime Minister Boris Johnson will announce Tuesday at a news conference.

On Monday, the chief medical officers of England, Scotland, Wales and Northern Ireland recommended that children aged 12 to 15 be given a single dose of the Pfizer/BioNTech vaccine, despite the government’s vaccine advisors saying this month that the step would have only marginal health benefits.

Vaccines minister Nadhim Zahawi said the government had accepted the recommendation and would start the vaccinations next week.

O t h e r c o u nt r i e s — i n c lu d ing the United States, Canada, France and Italy—already offer coronav irus vaccines to children 12 and up, but Britain has held off. It is currently inoculating people 16 and up, almost

90 percent of those eligible have had at least one vaccine dose.

Earlier this month, Britain’s Joint Committee on Vaccination and Immunization said vaccines should be given to 12- to 15-yearolds with underlying health conditions. But it did not back a rollout to healthy children, who are at low risk of serious illness from the virus, saying the direct health benefits were marginal.

However, it said there might be wider societal factors to consider, such as on education or children acting as sources of transmission to more vulnerable groups.

The chief medical officers said Monday that vaccination would help limit transmission of the virus in schools and help children’s mental health by reducing disruption to education.

England Chief Medical Officer Chris Whitty said vaccinating kids was “an important, potentially useful additional tool” in the fight against the virus.

But he said it had not been a “barn-door obvious” decision and it was appropriate “that people have taken longer to get to this and to make sure that we have weighed all the different elements up to get this right.”

Children will initially receive a single vaccine dose through their schools. The UK has yet to decide

on whether to give them a second dose.

Johnson’s Conservative government is hoping that widespread vaccinations, rather than restrictions, will keep Covid-19 infections in check during the colder months, when respiratory viruses spread more easily.

The announcement of a new virus road map comes a year after Johnson resisted scientific advice to put the country into lockdown—only to perform a Uturn within weeks as coronavirus cases soared.

Virus cases now are 10 times the rate of a year ago, but vaccines are protecting many Britons from serious illness. Still, the UK is recording more than 100 coronavirus deaths a day, and more than 8,000 people are hospitalized with Covid-19. That is less than a quarter of the wintertime peak, but the number is climbing.

Johnson is expected to say that mask-wearing, work-from-home advice and social distancing rules that were lifted in July could return if cases climb further.

But his Conservative government is resisting tougher measures, unexpectedly shelving a plan to introduce vaccine passports for nightclubs and other crowded venues.

Health Secretary Sajid Javid

said Sunday that the vaccine passes, which have been introduced in many European countries and were due to start in England at the end of September, were a “huge intrusion into people’s lives.” He said the government would keep the plan “in reserve” but wouldn’t proceed with it right now.

Some experts have argued for vaccine passports as a way to encourage young people to get vaccinated, though others say compelling vaccination, rather than encouraging it, could increase hesitancy. The measure was opposed as a burdensome imposition by many in the entertainment industry, and met political resistance on civil liberties grounds from some Conservative lawmakers and the opposition Liberal Democrats.

The government’s vaccine passport decision applies in England.

Scotland, which sets its own health policy, plans to introduce the requirement for crowded venues next month.

Johnson also is likely to announce on Tuesday that the government will relinquish some of the emergency powers Parliament gave it after the pandemic began last year, including the authority to shut down businesses and schools, restrict gatherings and detain infectious people. AP

Biden and leaders of Australia, India, Japan to meet in person

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ASHINGTON—President Joe Biden is set to host t he leaders of Australia, India and Japan for a four-way meeting later this month to strategize about Covid-19, climate change and other issues.

Spokesperson Jen Psaki announced Monday that Australian Prime Minister Scott Morrison, Indian Prime Minister Narendra Modi and Japanese Prime Minister Yoshihide Suga will travel to Washington to meet with Biden at the White House on September 24.

Biden had hosted a virtual meeting of the group, referred to as the “Quad,” in March.

Psaki said the meeting shows the administration’s commitment to the Indo-Pacific region as the US aims to counter a rising China.

As part of that commitment, Vice

President Kamala Harris recently visited Singapore and Vietnam.

The meeting agenda will include discussion of Covid-19, climate change, partnering on emerging technologies and cyberspace, and promotion of a free and open Indo-Pacific, she said. AP

OKYO—Senior diplomats from Japan, the United States and South Korea gathered Tuesday in Tokyo to discuss North Korea’s missile and nuclear development a day after Pyongyang announced it successfully tested new longrange cruise missiles, suggesting advancement of its military capabilities.

The three-way meeting included US Special Representative for North Korea Policy Sung Kim, South Korea’s Special Representative for Korean Peninsula Peace and Security Affairs Noh Kyu-duk and Japan’s DirectorGeneral for Asian and Oceanian affairs Takehiro Funakoshi.

Japanese Foreign Minister Toshimitsu Motegi told a regular news conference Tuesday that the trilateral meeting had been scheduled before North Korea’s test firing of the missiles, but

the meeting the day after would be a “good occasion to reconfirm close cooperation among the three countries and discuss the latest North Korean situation.”

Japanese officials and some experts said North Korea’s weekend missile test firing was a “new threat” to the region.

On Monday, the state-r un Korean Central News Agency reported that the missiles showed they can hit targets 1,500 kilometers (930 miles) away.

The North hailed its new missiles as a “strategic weapon of great significance,” suggesting that they were developed with the intent to arm them with nuclear warheads. North Korea says it needs nuclear weapons in order to deter what it claims is hostility from Washington and Seoul.

Japan and South Korea are separate key allies for the US presence in the Asia-Pacific region. AP

Apple fixes security hole used to hack an iPhone

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OSTON—Apple released a critical software patch to fix a security vulnerability that researchers said could allow hackers to directly infect iPhones and other Apple devices without any user action.

Researchers at the University of Toronto’s Citizen Lab said the security issue was exploited to plant spyware on a Saudi activist’s iPhone. They said they had high confidence that the world’s most infamous hacker-for-hire firm, Israel’s NSO Group, was behind that attack.

The previously unknown vulnerability affected all major Apple devices—iPhones, Macs and Apple Watches, the researchers said. NSO Group responded with a one-sentence statement saying it will continue providing tools for fighting “terror and crime.”

It was the first time a so-called “zero-click ” exploit—one that doesn’t require users to click on suspect links or open infected files—has been caught and analyzed, the researchers said. They found the malicious code on Sept.

7 and immediately alerted Apple.

The targeted activist asked to remain anonymous, they said.

“We’re not necessarily attributing this attack to the Saudi government,” said researcher Bill Marczak.

Citizen Lab previously found evidence of zero-click exploits being used to hack into the phones of al-Jazeera journalists and other targets, but hasn’t previously seen the malicious code itself.

Although security experts say that average iPhone, iPad and Mac user generally need not worry— such attacks tend to be limited to specific targets—the discovery still alarmed security professionals.

Malicious image files were transmitted to the activ ist ’s phone via the iMessage instantmessag ing app before it was hacked with NSO’s Pegasus spyware, which opens a phone to eavesdropping and remote data theft, Marczak said. It was discovered during a second examination of the phone, which forensics showed had been infected in March. He said the malicious file causes devices to crash.

Citizen Lab says the case reveals, once again, that NSO Group is allowing its spyware to be used against ordinary civilians.

In a blog post, Apple said it was issuing a security update for iPhones and iPads because a “maliciously crafted” PDF file could lead to them being hacked. It said it was aware that the issue may have been exploited and cited Citizen Lab. In a subsequent statement, Apple security chief Ivan Krstić commended Citizen Lab and said such exploits “are not a threat to the overwhelming majority of our users.” He noted, as he has in the past, that such exploits typically

cost millions of dollars to develop and often have a short shelf life.

Apple didn’t respond to questions regarding whether this was the first time it had patched a zero-click vulnerability.

Users should get alerts on their iPhones prompting them to update the phone’s iOS software.

Those who want to jump the gun can go into the phone settings, click “General” then “Software Update,” and trigger the patch update directly.

Citizen Lab called the iMessage exploit FORCEDENTRY and said it was effective against Apple iOS, MacOS and WatchOS devices. It urged people to immediately install security updates.

Researcher John Scott-Railton said the news highlights the importance of securing popular messaging apps against such attacks.

“Chat apps are increasingly becoming a major way that nationstates and mercenary hackers are gaining access to phones,” he said.

“And it’s why it’s so important that companies focus on making sure that they are as locked down as possible.”

The researchers said it also undermines NSO Group’s claims that it only sells its spyware to law enforcement officials for use against criminals and terrorists and audits its customers to ensure it’s not abused.

“If Pegasus was only being used against criminals and terrorists, we never would have found this stuff,” said Marczak.

Facebook’s WhatsApp was also allegedly targeted by an NSO zeroclick exploit. In October 2019, Facebook sued NSO in US federal court for allegedly targeting some 1,400 users of the encrypted messaging service with spyware.

In July, a global media consortium published a damning report on how clients of NSO Group have been spying for years on journalists, human rights activists, political dissidents, and people close to them, with the hackerfor-hire group directly involved in the targeting. Amnesty International said it confirmed 37 successful Pegasus infections based on a leaked targeting list whose origin was not disclosed.

One case involved the fiancee of Washington Post journalist Jamal Khashoggi just four days after he was killed in the Saudi Consulate in Istanbul in 2018. The CIA attributed the murder to the Saudi government.

The recent revelations also prompted calls for an investigation into whether Hungary’s rightwing government used Pegasus to secretly monitor critical journalists, lawyers and business figures.

India’s parliament also erupted in protests as opposition lawmakers accused Prime Minister Narendra Modi’s government of using NSO Groups’ product to spy on political opponents and others. AP

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TheWorld

Donors pledge $1.2 billion in aid for 11 million Afghans

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ENEVA—The United Nations drummed up more than $1.2 billion in emergency pledges Monday for helping 11 million Afghans facing an escalating humanitarian crisis in their homeland and millions more elsewhere in the region as the UN human rights chief voiced concerns about the Taliban’s first steps in establishing power in the beleaguered and impoverished country.

At the first high-level conference on Afghanistan since the Taliban took power a month ago, Western governments, big traditional donors and others announced pledges that went beyond the $606 million that the United Nations was seeking to cover costs through the end of the year for protecting Afghans from looming humanitarian disaster.

UN humanitarian chief Martin Griffiths announced at the close of the ministerial meeting that more than $1.2 billion in humanitarian and development aid had been pledged. He said this included the $606 million sought in a “flash appeal” but also a regional response to the Afghan crisis that UN refugee chief Filippo Grandi spoke about after arriving in Kabul on a previously unannounced visit.

He wrote on Twitter that he would assess humanitarian needs and the situation of 3.5 million displaced Afghans, including over 500,000 displaced this year alone.

Officials at the UN refugee agency, UNHCR, have expressed concerns that more Afghans could take refuge into neighboring Pakistan and Iran, which both already have large numbers of Afghans who fled their country during the past decades of war.

Griffiths urged donors to turn Monday’s pledges into cash contributions as fast as possible, saying “the funding will throw a lifeline to Afghans” who lack food, health care and protection. He said the meeting showed solidarity with the Afghan people but added that “Afghanistan faces a long and hard road ahead” and this “is far from the end of the journey.”

It is feared Afghanistan could further plunge toward famine and economic collapse after the chaos of the past month, which saw the Taliban oust the government in a lightning sweep as US and NATO forces exited the 20-year war.

“The people of Afghanistan need a lifeline,” UN Secretary-General Antonio Guterres said at the opening of the conference. “After decades of war, suffering and insecurity, they face perhaps their most perilous hour. Now is the time for the international community to stand with them. And let us be clear, this conference is not simply about what we will give to the people of Afghanistan. It is about what we owe.”

He said one in three Afghans don’t know where their next meal will come from, the poverty rate is “spiraling” and basic public services are nearing collapse. A severe drought is jeopardizing the upcoming harvest, and hunger has been rising.

The UN’s World Food Program says Afghans are growing increasingly short of cash to buy food, the majority of which — like wheat flour — is imported. Frozen foreign exchanges and a paralyzed state budget have stripped people of the money they need just as food and fuel prices have risen.

As with many other UN-led donor conferences, some countries injected more funds, while others highlighted commitments already made. German Foreign Minister Heiko Maas announced plans for Germany to pour 500 million euros ($590 million) into Afghanistan and its neighboring countries, but specifics were not immediately provided. Denmark said it would give an extra $38 million and Norway promised $11.5 million.

At the same time, officials suggested aid in the future could be affected by how the Taliban rules.

Linda Thomas-Greenfield, the US ambassador to the United Nations, said the US was “committed to providing humanitarian assistance” for and supporting Afghans, and would add $64 million in new assistance for UN and partner organizations. That brings the US total for Afghanistan to $330 million in this fiscal year, she said.

“We need oral and written commitments made by the Taliban about operating rights of humanitarian agencies and the treatment and rights of minority groups, women and girls to be upheld,” she said by video message. “Words are not good enough. We must see action.

The international community is unified in this message.”

Germany’s Maas, speaking to the Human Rights Council also in Geneva, said the world has a “moral obligation” to help Afghans.

But he also said the level of the Taliban’s respect for human rights, particularly of women and girls, would be a “benchmark for us and our partners in determining our future engagement with a new Afghan government.”

He criticized the Taliban’s decision to exclude other groups from their recently announced interim government, saying it was “not the right signal” for international cooperation and stability.

The world has been watching closely to see how Afghanistan under a Taliban government might be different from the first time the Islamic militants were in power from 1996 to 2001. During that era, the Taliban imposed a harsh rule by their interpretation of Islamic law. Girls and women were denied an education and were excluded from public life.

Initially after seizing power Aug. 15, the Taliban promised inclusiveness and a general amnesty for former opponents. But many Afghans remain deeply fearful, particularly because of early Taliban moves. The group formed an all-male, all-Taliban government despite saying initially they would invite broader representation. Taliban police officials have beaten Afghan journalists and violently dispersed women’s protests.

The UN human rights chief, Michelle Bachelet, warned of a “new and perilous phase” for Afghanistan as she upbraided the Taliban for a disconnect between their words and actions.

Speaking to the rights council, she said her office has received credible allegations of reprisal killings by the Taliban of former Afghan security forces as well as instances in which officials in the previous government and their relatives were arbitrarily detained and later turned up dead.

Bachelet cited multiple allegations of Taliban forces conducting house-to-house searches looking for specific officials in the previous government and people who cooperated with US forces and companies. She said that over the last three weeks, women have been progressively excluded from the public sphere, in contradiction to Taliban assertions to respect women’s rights. AP

BusinessMirror

Wednesday, September 15, 2021

A9

Over 100 world leaders to attend UN General Assembly in person

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NITED NATIONS—More than 100 heads of state and government are planning to attend the UN General Assembly’s annual gathering of world leaders in person next week, including US President Joe Biden, King Abdullah II of Jordan and the presidents of Brazil and Venezuela, according to the latest speakers list.

The prime ministers of Japan, India and the United Kingdom will also be at UN headquarters to deliver their country’s speech to the 193-member assembly, along with Israel’s new Prime Minister Naftali Bennett and Palestinian President Mahmoud Abbas. And 23 ministers are slated to speak in person as well, according to the list obtained Monday by The Associated Press.

Because of the ongoing Covid-19 pandemic, the UN’s members decided to make this year’s gathering hybrid, offering nations the possibility of sending

leaders to New York in person or making prerecorded statements to be shown in the assembly chamber, as virtually all countries did last year.

Many diplomats and leaders have complained publicly that virtual meetings cannot substitute for in-person one-to-one or group contacts to tackle regional and global challenges and crises.

T he high number of leaders planning to attend in person—73 heads of state and 31 heads of government—ref lects the importance of the annual

UN gathering, officially called the General Debate, and its role in diplomacy. While all countries speak publicly in the assembly, a lot of the world’s business gets discussed at private meetings, lunches and dinners on the sidelines.

Among those delivering prerecorded statements this year will be the presidents of Iran, Egypt, France, Indonesia, South Africa and Zimbabwe.

The high-level week begins September 20 w it h a c losed meeting on climate change between Secretary-General Antonio Guterres and world leaders.

He will deliver his state of the world address at the following day’s opening of the global gathering, officially called the General Debate, followed by in-person speeches by Brazil ’s President Jair Bolsonaro, Biden and about three dozen other leaders.

The last scheduled speakers on September 27 are from the delegations of North Korea, Myanmar, Guinea and Afghanistan.

The credentials of Myanmar’s current ambassador, from the country’s ousted democratic government, are being challenged by the military junta, but diplomats say it’s unlikely that challenge will be heard before high-level week by the General Assembly’s Credentials Committee. Afghani-

stan’s new Taliban rulers have not yet submitted a letter challenging the credentials of the previous government’s ambassador, and neither have the leaders of the recent coup in Guinea.

During high-level week, there are other events on energy and food security, which will both be virtual, and commemorating the 20th anniversary of the controversial UN conference on racism in Durban, South Africa, and on disarmament, which are both in-person. A ll other side events will be held outside the UN headquarters complex.

Under measures to prevent the spread of Covid-19, member states have agreed to limit the delegations entering UN headquarters with a leader or minister to six people, with only four of them allowed in the General Assembly chamber. The secretary-general has also mandated that all UN staff in the building during the week be vaccinated.

UN spokesman Stephane Dujarric said all people entering the UN headquarters complex, including visitors, delegates, and contractors, will have to “attest through their swipe card or escorted entry that they do not have symptoms of Covid-19 and have not tested positive for Covid-19 in the last 10 days.” AP

House Democrats seek corporate, wealthy tax hikes for $3.5-T plan

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A SHINGTON— House Democrats unveiled a sweeping proposal for tax hikes on big corporations and the wealthy to fund President Joe Biden’s $3.5 trillion rebuilding plan, as Congress speeds ahead to shape the far-reaching package that touches almost all aspects of domestic life.

The proposed top tax rate would revert to 39.6 percent on individuals earning more than $400,000, or $450,000 for couples, and there would be a 3 percent tax on wealthier Americans with adjusted income beyond $5 million a year. For big businesses, the proposal would lift the corporate tax rate from 21 percent to 26.5 percent on incomes beyond $5 million, slightly less than the 28 percent rate the president had sought.

In all, the tax hikes are in line with Biden’s own proposals and would bring about the most substantive changes in the tax code since Republicans with then-President Donald Trump slashed taxes in 2017.

Business and anti-tax groups are sure to object. But Democrats are pressing forward.

Rep. Richard Neal, D-Mass., the chairman of the tax-writing Ways & Means Committee, said Monday the proposals, taken together, would “expand opportunity for the American people and support our efforts to build a healthier, more prosperous future.”

It’s an opening bid at a daunting moment for Biden and his allies in Congress as they assemble the massive package that is expected to become one of the largest single domestic policy measures considered in decades. The president’s “Build Back Better” agenda includes spending on child care, health care, education and strategies to confront climate change. It is an ambitious undertaking on par with the Great Society or New Deal. AP

A10 Wednesday, September 15, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

‘Galunggong’: Poor man’s fish no more

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alunggong or round scad, which used to be the poor man’s fish, is now more expensive than dressed chicken, based on the latest data released by the Department of Agriculture. In a report dated September 13, the DA said the average prevailing price of galunggong in Metro Manila wet markets has reached P220 per kilogram, P60 higher than a kilo of dressed chicken. Round scad retailed at P200 to P230 per kilo in six of the big Metro Manila wet markets surveyed by the DA. As pork—the favorite protein source of Filipinos—remained expensive due to the onslaught of the African swine fever, consumers have shifted to fish products, such as galunggong and alumahan or Indian mackerel. Pork kasim and liempo retailed at P300 and P340, respectively, according to data from the DA. The arrival of pork imports has yet to make a significant dent in meat prices. Pork was still one of the main drivers of inflation in August, based on data from the Philippine Statistics Authority (See, “Inflation seen to hit growth, poverty goal,” in the BusinessMirror, September 8, 2021).

Fish was also one of the main drivers of inflation in August, but National Statistician Claire Dennis S. Mapa said this was mainly due to supply constraints. Despite the affordability of other fish species like bangus (milkfish) and tilapia (St. Peter’s Fish), it appears that Filipinos are partial to galunggong. Data indicated that bangus and tilapia retailed at P160 per kilo and P120 per kilo, respectively, a development that producers attributed to low demand.

The government is banking on the importation program it approved last month to pull down the price of certain fish species, including round scad. Under the small fish pelagic importation scheme, the government will allow traders to bring in 60,000 metric tons of round scad, big-eye scads, mackerels, sardines, round herrings and anchovies ahead of the closed fishing season, which will start in November. The importation program is expected to ease prices as the DA said traders will be required to set a wholesale price of P88 per kilo or lower.

In the short-term, the importation scheme will surely pull down local prices of small fish species and consumers would eventually forget that the poor man’s fish was a major driver of inflation this year. To prevent a repeat of runaway prices for fish products, government should now start looking at measures that would make the favored galunggong and other fish species like alumahan, which retails at P320 per kilo, more affordable. It can start by examining the reasons for the low demand for bangus and tilapia (See, “‘Galunggong’ too pricey? Try cheaper ‘bangus’ or tilapia,” in the BusinessMirror, September 13, 2021).

Groups such as the Philippine Tilapia Stakeholders Association and the Taal Lake Aquaculture Alliance Inc. have declared that they can supply the country’s fish requirements even during the closed fishing season. Unfortunately, there’s scant demand for these aquaculture species. Tilapia and bangus are currently more affordable than galunggong and alumahan and consumers probably need just a little nudge from policymakers for them to start buying other fish species again.

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Dr. Jesus Lim Arranza

MAKE SENSE

A

N auspicious academic campus along Claro M. Recto Avenue near the Malacañang Palace in Manila, the University of the East (UE) has witnessed many consequential events at the Mendiola Bridge that resulted in political, environmental, economic and social reforms in the country. The Bridge is the historic divide that separates the students and social activists from government enforcers protecting the Presidential Palace during rallies.

Secured with barbed wires and empty container vans that serve as barriers to prevent the rallyists from getting across the bridge, countless lives have already been lost on this bridge in the pursuit of change. But UE is not only witness to these important moments in our history, it is also a bastion of learned students that are trained and ready to be warriors for a good purpose. My life as a crusader against smuggling and advocate for industry and consumers causes is partly influenced by my

experience as full-scholar Speaker of the Parliament of UE’s student government, and my being voted president of the university’s Batch 65 Graduating Class by the representatives of all colleges, including the College of Law and College of Medicine, during my senior year.

I was never wrong in choosing a university for my tertiary education that has already produced many CPA and Dental medicine board examination topnotchers. Not only was I forged with a heart and mind of a true UE Red warrior, but my values

as a crusader were also shaped by the ideals of a UE alumnus. That’s why four other family members, my brother, son, daughter-in-law and niece, they all finished their medical degrees at the UERMMC. And most importantly, my advocacy milestones were recognized by UE’s top leadership. I was accorded the distinction of Doctor of Humanities (honoris causa).

Established in September 1946 in a rented room on Dasmariñas St., Manila, UE started with 110 students enrolled in Certified Public Accountant (CPA) review classes.

And while the country was still reeling from the vestiges of the Second World War, four of its 110 students took the top spots in the 1947 CPA Board Examinations.

From them on, there was no turning back for UE. It was once labeled as the “largest university in Asia” when its enrollment in the past reached over 65,000 students. With its two other campuses, one in Caloocan and its medical school, the UE Ramon Magsaysay Memorial Medical Center along Aurora Blvd,. Dona Imelda, Quezon City, the Commission on Higher Education (CHED)

granted UE autonomous status and recognized two of its programs as Center of Excellence and Center of Development.

UE will always have a special place in my heart, not only because I learned a lot and shared many memorable experiences with my peers at the university, but most importantly, because it is where I met my wife, the former Evelyn Dacanay Dumaguin, who was also a member of UE’s elite group of bright and success-driven students comprising the university’s Student Parliament.

On September 25 this year, the home of the Red Warriors will commemorate its 75th Founding anniversary. I urge all UE graduates to join the weeklong virtual celebration of our alma mater’s 75 years of service to the nation, the Filipino people and our families. For details, contact Josie at mobile number 0939285-3399.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Gates, Rockefeller warn leaders about pandemic’s impact

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By Alex Daniels

ust ahead of the annual meeting of the UN General Assembly that opens on Tuesday, leaders of the Gates and Rockefeller Foundations—grant makers that have committed billions of dollars to fight the coronavirus—are warning that without larger government and philanthropic investments in the manufacture and delivery of vaccines to people in poor nations, the pandemic could set back global progress on education, public health, and gender equality for years.

T. Anthony C. Cabangon

Senior Editors

Creative Director Chief Photographer

Trained to be a true (UE Red) Warrior

The calls from philanthropy leaders for more action from wealthy countries comes as President Biden plans to call for a “Covid Summit” to coincide with the meeting, according to news reports.

In an annual analysis of progress made toward development goals set by the United Nations on poverty, access to clean water, gender equality, and other indicators of well being, the Gates Foundation found that the spread of the pandemic had significantly reversed progress made in recent years.

A big reason is that the disease disproportionately hit poor countries that did not have access to Covid vaccines. More than 80 percent of Covid vaccines have been administered to people in wealthy countries, according to the report.

The entire continent of Africa, the report noted, has a population about 300 times that of California. But the number of people vaccinated was roughly the same through the first half of the year.

The health crisis cast a shadow over many measures of well-being.

During the pandemic, childhood immunizations over all dropped 7%.

Health officials last year predicted it was going to be even worse, but the decline still represents 10 million children who have fallen behind immunization schedules. While men’s employment is expected to return to pre-pandemic levels this year, 13 million fewer women will have jobs than in 2019, according to the report.

“The lack of equitable access to Covid-19 vaccines is a public-health tragedy,” said Bill Gates, in statement accompanying the report. “We face the very real risk that in the future, wealthy countries and communities will begin treating Covid-19 as yet another disease of poverty. We can’t put the pandemic behind us until everyone, regardless of where they live, has access to vaccines.”

While the Gates Foundation has been one of the biggest philanthropic supporters in the fight against Covid, pouring $1.8 billion into a range of global health efforts to curb the spread of the disease, it has also attracted significant criti-

cism. For much of the first year of the pandemic, it so staunchly defended the intellectual property rights of the pharmaceutical companies that developed the vaccines that experts say it slowed the delivery of vaccines to people in need.

In May, the foundation seemed to reverse course and said it would back a “narrow waiver” of intellectual property rights to help get vaccines to poor countries. Writing on the foundation’s website, Mark Suzman, the CEO, wrote that “no barriers should stand in the way of equitable access to vaccines, including intellectual property.”

Rockefeller’s president, Rajiv Shah, has called for a “Covid Charter,” in which rich countries would peg international development and climate assistance to 1% of their gross domestic product and require middle- and low-income nations to devote more money to public health and climatechange mitigation. His plan would tap funds from emergency accounts held by the International Monetary Fund and enlist philanthropy to increase its support for international development.

Writing in the journal Foreign Affairs, Shah identified the impact of climate change and Covid-19 on vulnerable populations as a “nearterm” threat to global stability. Failure to address the inequitable impact of those crises could have a lasting effect, according to Shah.

“Without significant development interventions, increased pov-

erty and suffering will be a decadeslong problem,” wrote Shah, who was director of the US Agency for International Development in the Obama administration.

The Rockefeller Foundation in October 2020 committed $1 billion over three years to respond to Covid and prevent future outbreaks.

The Gates Foundation is the largest private philanthropy, with nearly $50 billion in assets.

The nearly $2 billion the foundation has committed to fighting the pandemic has gone toward developing tests and vaccines, financing the procurement of medical supplies by poor countries, and softening the pandemic’s economic blow.

The report Gates released Monday did not include new commitments to Covid but called on other foundations and governments to make long-term, global investments in health care research and the logistics required to get a vaccine from a factory to a clinic and into a patient’s arm.

The damage caused by the pandemic has been somewhat mitigated by the speed with which researchers developed successful vaccines, said Suzman. The rapid development of protection against the virus, he said, was possible because of large investments over several years by the Gates fund and others.

“This is also now an opportunity for both responding to the current crisis, but making sure that we are building a... set of national and See “Gates,” A11

Opinion BusinessMirror

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Cooperatives for PHL creative industries

You want health, but do you understand it?

By May Zuleika Salao

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S the Philippine Creative Industries Act nears passage in Congress, public debate veers toward what kind of industry organization may best serve its aspirations. A closer examination shows the scope of our country’s creative industries—36 subsectors to date, ranging from the traditional to the modern such as craft industries as well as those recently profitable, global outsourcing ventures like video gaming and digital graphic design.

In addition to this wide scope, we observe that organizing a creative industry for constructing modern spaces—a city, for example—goes beyond urban limits because of shared social and cultural lineage and aspirations with surrounding provinces, municipalities, and barangays. Simply put, there exists industry linkages if not dependence and likewise, commonalities if not unity, over and above existing geographic boundaries.

Yet we divide by drawing-up boundaries as influenced by our country’s archipelagic constitution thus our multi-diverse nation? This multi-diversity with its apparent fragmentation lies central to our Filipino nation’s journey toward a more sovereign state. A “more sovereign state” that implies heightened awareness of features that unite rather than divide, which lies at the heart of building—or rebuilding, Philippine creative industries where our Filipino culture and Filipino economy meet.

Consider a traditional creative industry like weaving that is central to Baguio as Unesco Creative City of Crafts and Folk Arts. While weaving is an industry, it is a centuries-old culture spanning the whole Cordillera region where Baguio is located. The CAR or Cordillera Administrative Region comprises 75 municipalities and 1,176 barangays grouped into six provinces (Abra, Apayao, Benguet, Ifugao, Kalinga, Mountain Province) plus the autonomous, highly urbanized Baguio City as Cordillera’s regional center.

What does it mean to be a regional city center? As a Unesco Creative City since 2017, being a regional city center has meant that Baguio City recognize its social and cultural responsibilities for Cordillera’s sustainability.

Particularly, social sustainability reinforcing the gains from regional autonomy finally won in 1987, and cultural sustainability ensuring continuity of the Cordillera way of life.

Intrinsic in this way of life are the woven clothes and blankets marking the distinctiveness of Cordillera tribes. Abra’s Tingguian tribe alone has 11 Itneg tribes, and Benguet where Baguio City is located, has the Kankaneys and Ibalois not to mention the Kalanguya and Karao tribes. All in all, Cordillera’s ethnic peoples number at least 40 sub-tribes or clans spread out across its six provinces. Each has its own heritage at the same time sharing in one history and culture—that is, Filipino.

And meanwhile, Baguio as regional city center performs a knowledge and political role, a source of what weaving’s future could be, and the region’s marketing and distribution center to the rest-of-the-countryand-the-world.

According to popular perception, Baguio City acts as a receptacle of its region’s creativity streaming from its surrounding provinces, municipalities, and barangays. Throbbing as a meeting place where one could pinpoint distinctive identities, it generates a melting pot instrumental in fusing traditions and pushing these cultures onto modern conceptions— something new, innovative, ahead of

Gates. . .

continued from A10

regional infrastructures that make sure we never face this kind of crisis again,” Suzman told reporters on a conference call last week.

The Gates Foundation’s protection of pharmaceutical companies’ intellectual property rights during much of the first year of the pandemic attracted criticism from some

its time. Baguio City revitalizes the Cordillera region.

But this perception is more of an ideal. Likewise, it is food for thought when we bring it to scale to reflect on our country’s major region—for example, NCR (National Capital Region) vis-a-vis our nation state developing its creative industries anew.

Now, the fact that a city moving its region (or a national capital region moving its country) from traditional to modern generates winners and losers. But this will not be as divisive if unity prevails—a consciousness borne out of sharing in the same Filipino culture with all the work on cultivation and protection that it entails.

This work puts education and training at center stage, and it demands cooperative effort across our society’s stakeholders, most of all, those into creative industries development. For this revitalization and change toward the modern, the question is thus asked: What form of creative industry organization may best serve these aspirations?

Studies show the intrinsic worth of community-oriented industry cooperatives. Emerging from the grassroots, these cooperatives ensure social and cultural sustainability.

In the context of the Cordillera region, creativity as culture manifested in weaving evolved as nurtured by communities with a collective imagination and practice traversing a common history, thus establishing a shared identity.

Creativity as culture with its history and identity gets touched by its city if it fails to grow with it. But how could it fail to grow with its city?

In any case, this creativity may be maintained if not asserted, even as it changes with its newfound setting such as its organization into a creative industry.

The fact that we refer to weaving in the Philippine highlands as “Cordillera weaving” has been lived for centuries. Together with this timetested identity, weaving as a tradition of creativity remains even as Baguio City assumed parallel development, never meeting Cordillera in some significant historical moments such as centuries of colonialism and its subsequent growth with the national capital.

Baguio City, its Cordillera region—and the entire country with its other cities and regions, confront another turning point in our Philippine history and Filipino identity. We are organizing our society, particularly, our creative industries once more through the Philippine Creative Industries Act. And indeed, the crucial question to ask may well be on the kind of creative industry organization our people need. Increasing evidence urges sustaining our Filipino creativity both socially and culturally. Let us further study, build and promote our community-oriented industry cooperatives.

Wednesday, September 15, 2021 A11

Dr. Carl E. Balita

Entrepreneurs’ Footprints

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E are all exhausted in monitoring how the coronavirus is mutating to impose a continuing threat to our lives, our living styles and our future. The news that present the dominantly negative updates and the government that is re-inventing the twists and turns in the recycled classifications of quarantines are all draining the very energy we need to cope up with the situation and become part of the solution.

What sinks the ship is not the water that is around it, but the water that gets into it. The real power is within each of us —tapping the inner strengths and potentials to cope with the threats. That is health! Humans, as the “masters of the universe”, are privileged to have the modern science which traces back in history and which capacity to continuously understand and incessantly defend humanity is beyond question. We have every reason to be optimistic.

We all want to be healthy. But do we understand the very concept of it?

Health and wellness defined

IN an earlier and narrowest clinical definition, health is the complete physical, mental and social wellbeing and not merely the absence of disease or infirmity. Not having Covid-19 does not readily indicate health. In fact, the mental health issues have surfaced attributing to the increasing incidence of self-harm, suicide, anxiety and depression. They manifest in many areas not only in the personal level of productivity and performance but even in the interpersonal levels leading to an increase in the reported cases of tensions and crisis in relationships.

The real power within is health, which is defined by the WHO to include even the extent to which an individual or group is able to realize aspiration and satisfy needs, and change and cope with the environment.

This pandemic has attacked the very nature of our health, not only in

the physical sense but also in our ability to realize our aspirations. With imposed limitations on the way we can learn and earn, even the ability to satisfy our needs and that of our family got disrupted. The ability to change and cope with the environment comes easy if one has the resources or control of the many areas of life. But among many people, the changes in the environment are just too overwhelming to cope up with.

The role performance model of health defines it as the ability to fulfill societal roles, which obviously has changed remarkably. Losing jobs and businesses, and the shift of work and learning disturb the fulfillment of our societal roles. This can be very frustrating, even to young children who are now missing the social value of school.

The adaptive model of health gives hope derived from the creative process of adaptation. As naturally adaptive beings, humans survive to eventually thrive. But the challenge to adapt has been so sustained in an environment that has become volatile (because of the rapid change), uncertain (because of the unpredictability of the present and future), complex (because of the multitude of factors affecting the environments), and ambiguous (because of its confusing state). The word “harsh” has been added to the acronym VUCA to complete the description of the environment that it is in the pandemic.

The ecological model of health describes the interaction of the agent,

host and the environment. It warns that a balance is required to achieve health.

The concept of High Level of Wellness provides for a more comprehensive perspective as it conceptualizes the integrated method of functioning oriented towards maximizing the potential by which a person is capable of functioning in a given time and environment. The high level of wellness provides us the holistic nature of our being where our functioning is towards bringing out the best of what we are capable of doing and what we have at our disposal. It challenges the full utilization of what is within us to realize our full potentials and achieve self-actualization.

The glass that isn’t half empty but half full is also a glass that can be refilled, in the dynamic context of this high-level wellness.

Promotion of health

Health promotion refers to the activities that, by accentuating the positive, assist the person to develop those resources that will maintain and enhance the well-being and improve the quality of life. Health promotion, focused on the positive, pushes for the development and use of resources with the end in view that life can be lived with quality and with well-being to enjoy it. Health promotion refers to the activities that a person does to himself in the absence of symptoms or disease in an attempt to remain healthy. It happens when we boost our immune system, take sufficient amount of exercise and sleep, and engage in stress management activities to remain healthy, among others.

The health beliefs largely influence health promotion. The health belief model has emphasized on predicting individual preventive health behavior based on his ideas about the appraisals of the perceived benefits compared to perceived barriers and costs of taking health action. The higher health benefit over the barriers and costs will propel the decision towards acting. The person’s susceptibility to a health threat, and its seriousness, influence the person’s decision to engage in a preventive

health behavior. We work on what we feel is of value to us and we are influenced by internal and external factors unique of us.

We become unique persons in terms of health, belief and health promotion initiatives. It is therefore wrong for a public health policy to offer a one-size-fits-all approach.

Personal responsibility and sense of control are key concepts for promotion of health.

Prevention of illness

Prevention comes in different levels. At primary level, the concern is on the prevention, or delay, in the actual occurrence of a specific illness.

Primordial prevention focuses on preventing the emergence of the risk factors. Specific prevention focuses on removing or reducing the levels of risk factors. The quarantine is supposed to prevent us from being exposed to risk, as the wearing of the mask and hand hygiene are also able to break the chain of transmission. Another example is vaccination, which does not guarantee that one will not have the disease but will reduce the likelihood of critical level of the illness or of death.

At secondary level, the focus is on the early detection, through case finding and screening, so early treatment is accorded. An example of this is the testing which is done especially for those who had exposures so that managements may be conducted at an early stage. The early detection and the confirmation of the disease lead to early treatment and better prognosis in recovery.

Tertiary level is directed towards prevention of complications of a disease and rehabilitation. This is the stage where establishment of wellness and the return to the preillness level of performance become the goal.

He who has health, has hope; and he who has hope has everything, says Thomas Carlyle. If you are losing hope, could it be because you are losing health? Make your health as the greatest gift you can give your family and the world. Wrap it with hope. The power of health is within you—one day at a time.

Chinese students hit by US visa rejections amid tension

May Zuleika Salao, PhD Philippine Studies at UP Diliman, is senior faculty of Political Economy at the School of Law and Governance, University of Asia and the Pacific. As scholar of the German organization, Hanns Seidel Foundation, she is presently a visiting researcher at the Department of Politics and Public Administration, University of Konstanz, Germany.

fter a semester online, Wang Ziwei looked forward to meeting classmates who are returning to campus at Washington University in St. Louis. But the 23-year-old finance student said the US revoked his student visa on security grounds.

Wang is among at least 500 students the Chinese government says have been rejected under a policy issued by then-President Donald Trump to block Beijing from obtaining US technology with possible military uses. Students argue it is applied too broadly and fume at what they say is an accusation they are spies.

“The whole thing is nonsense,” Wang said. “What do we finance students have to do with the military?”

The students join companies and individuals whose plans have been disrupted by US-Chinese tension over technology and security, Beijing’s military buildup, the origins of the coronavirus, human rights and conflicting claims to the South China Sea and other territory.

The policy blocks visas for people who are affiliated with the ruling Communist Party’s military wing, the People’s Liberation Army, or universities deemed by Washington to be part of military modernization efforts.

US officials say they believe thousands of Chinese students and re-

searchers participate in programs that encourage them to transfer medical, computer and other sensitive information to China.

Washington cites Beijing’s strategy of “civil-military fusion,” which it says treats private companies and universities as assets to develop Chinese military technology.

“Joint research institutions, academia and private firms are all being exploited to build the PLA’s future military systems—often without their knowledge or consent,” the State Department said in a 2020 report.

Trump’s successor, Joe Biden, has given no indication of what he might do.

Chinese officials appealed to US Deputy Secretary of State Wendy Sherman to drop the visa restrictions when she visited in July, according to The Paper, a Shanghai online news outlet.

The policy is necessary to “protect US national security interests,” the US Embassy in Beijing said in a statement.

It said the policy is a response to “some abuses of the visa process” and is “narrowly targeted.”

More than 85,000 visas for Chinese students have been approved over the past four months, according to the embassy.

“The numbers show clearly that the United States stands ready to issue visas to all those who are qualified — including Chinese students and scholars,” it said.

China is the biggest source of foreign students in the United States, according to US government data. The number fell 20% in 2020 from the previous year but at 380,000 was nearly double that of second-ranked India.

An engineer at a state-owned aircraft manufacturer said he was turned down for a visa to accompany his wife, a visiting scholar in California studying pediatric cancer.

The engineer, who would give only his surname, Huang, has undergraduate and graduate degrees from the Harbin Institute of Technology in China’s northeast.

It is one of seven schools Chinese news reports say are associated with visa rejections because they are affiliated with the Ministry of Industry and Information Technology.

“I was insulted,” Huang said. “That I graduated from this school means I am a spy? What’s the difference between this and racism?”

Huang said his wife’s fellowship was two to three years, but she will cut that to one, “sacrificing her career” to avoid being away from their two children for too long.

“It’s a pretty big impact on individuals when one country fights with another,” Huang said.

Rejection letters received by several students cited Trump’s order but gave no details of the decision. However, some students said they received rejections

immediately after being asked which university they attended.

Wang, the finance student, said he obtained a visa, but the US Embassy called later and said it was revoked.

Wang graduated from the Beijing Institute of Technology, another university associated with visa rejections due to its connection with the industry ministry.

Others include Beijing Aerospace University, Nanjing University of Science and Technology, Nanjing University of Aeronautics and Astronautics, Harbin Engineering University and Northwestern Polytechnical University.

Graduates of the Beijing University of Posts and Telecommunications also say they have been rejected.

Five Chinese scientists at universities in California and Indiana were charged last year with lying about possible military connections on visa applications.

Those charges were dropped in July after the Justice Department said an FBI report indicated such offenses often had no connection to technology theft.

The Chinese government complained in August that three students who had visas were refused entry into the United States at the Houston airport after military training photos were found in their phones.

Beijing “strongly deplores and rejects” the policy and appealed to the US government to make changes, Foreign Ministry spokesperson Wang Wenbin said.

public-health leaders.

W hen the vaccines became available, rich countries rushed to gather supplies for their own populations. One reason low-income countries weren’t able to procure their own supplies is that patents on the vaccines hampered the development of low-cost generic batches of the immunizations. In his announcement backing an intellectual property waiver, Suzman said the details of such a waiver

should be negotiated at the World Trade Organization.

More than 100 countries favor such a waiver. The Biden administration announced its support in May, but agreement has been stalled because of opposition mainly from European nations. After a nearly two-month hiatus, talks on the issue resume Tuesday at the World Trade Organization.

The Gates Foundation’s Suzman stressed the bottlenecks in deliv-

ering vaccines at the country and local level.

“So much focus is on the vaccine procurement, which is critically important, that often we don’t focus as much on the need for the vaccinedelivery infrastructure,” he said.

Kyle Knight, a senior health researcher at the advocacy group Human Rights Watch, said the focus on the local manufacturing and distribution capabilities is largely misplaced. He called the international

response to Covid an inadequate “charity-based” response that put commercial interests before human rights obligations.

“When you have that much power, you also have a moral responsibility to pay attention to the power dynamics that are causing harm,” he said.

He called the Gates Foundation’s focus on expanding local vaccinemanufacturing plants and distribution to medical centers disin-

genuous. Health ministries around the world have no reason to make those investments, he said, as long as large companies hold patents on the vaccines.

“The idea that the problem is lack of infrastructure in poor countries is ridiculous,” he said. “The problem actually exists upstream. It exists at this debate on a global health crisis that is happening at a multilateral trade agency.” AP/The Chronicle of Phi-

By Fu Ting | Associated Press

A

lanthropy

A12 Wednesday, September 15, 2021

PROPERTY BUBBLE NOT LIKELY, SAYS EXPERT, AMID REALTY PRICE DIP

By Bianca Cuaresma @BcuaresmaBM

A

PR I VATE economist has allayed fears of a property bubble formation in the country, despite broad changes in real estate prices in the country.

In a commentary on Tuesday, ING Bank economist Nicholas Mapa said “signs of a real estate bubble have yet to manifest in a palpable manner” as the country’s residential real estate price index remains negative largely due to the pandemic.

Earlier this year, the Bangko Sentral ng Pilipinas (BSP) repor ted that prices of various types of new housing units in the country contracted by 4.2 percent year-on-year due to the subdued demand for residential properties amid the pandemic.

The latest data on building permits also showed a stark pickup in growth, as driven largely by base effects.

“This trend suggests that the Philippines is also

experiencing the global phenomenon of migration from the urban centers to the areas outside the city with Filipinos in search of more space. After being locked down in the city for more than a year, it’s no surprise that there is now a natural and healthy demand for property and homes outside the city,” Mapa said.

“This in turn will aid in the development of areas outside the national capital region [NCR] as the Philippines hopes to undergo some form of deurbanization,” he added.

Earlier this month, BSP Governor Benjamin Diokno announced that the Central Bank is set to release a commercial property price index by the end of this year.

“Together, these two indicators may be used to monitor the developments in the Philippine property sector as a whole and their linkages with the other sectors in the economy,” Diokno told reporters earlier.

Biz groups call for ‘uniform’ ALS interpretation by local govt units

W

By Tyrone Jasper C. Piad

@Tyronepiad

HILE business leaders understand the need to restrict mobility in pandemic, they stressed that the new Alert Level System (ALS) for community quarantine—which can be confusing— should be implemented consistently, in addition to rolling out proactive measures.

George T. Barcelon, Legislative-Executive Development Advisory Council private sector representative, said the new guidelines may bring a bit of confusion both to the public and business sector.

This, as the ALS vests the local government units (LGUs) with authority to impose granular lockdowns upon determination.

“The guidelines are not really clearcut,” he told the BusinessMirror.

“All of these things depend on the interpretation.”

Barcelon suggested that the government create a digital dashboard like Google Maps and Waze whereby the public can access information about the lockdown measures imposed on certain areas.

He said this can help the business

sector adjust their supply chain, along with their operations and deliveries.

“We further hope that the guidelines will be fairly and uniformly implemented by all LGUs and not too costly to monitor,” Philippine Chamber of Commerce and Industry Acting President Edgardo Lacson told the BusinessMirror.

Lacson underscored the importance of a “well-balanced” guidelines, which both considers the health of the public and economy.

Metro Manila is subject to Alert 4 by September 16. The ALS is broken down to 5 levels, Alert 5 being the most alarming and restrictive.

“You can’t blame business for being impatient but it’s probably prudent to start at Level 4,” Makati Business Club Executive Director Francisco Alcuaz Jr. told this newspaper. “ We hope t hat can be brought down gradually as we all, especially the mayors, learn to manage saving jobs

with saving lives.”

With this, Alcuaz also called on the national and local government to improve hospital, isolation and quarantine systems to better manage the surge in Covid-19 cases.

Proactive measures

MEANWHILE, Barcelon sees no problem with imposing lockdowns in areas with high Covid-19 infection rate, but noted that cases still went up during the enhanced community quarantine (ECQ).

“The reality is we have to live with Covid-19 spreading,” he said, noting that the economy should reopen safely.

To allow safe mobility, Barcelon said that Covid-19 testing should be intensified at the “grassroots” level. “We have to provide for free the saliva test and antigen test and teach them how to use at the barangay level, even for companies,” he explained.

Barcelon, who is also chairman of the Philippine Exporters Confederation Inc., said commuters should be tested at least once a week before going out of the vicinity.

“Despite allocating substantial funding for contract tracing, nothing really happened. They spent so much money,” he said. “Why not use that money really to go to the grassroots.”

R iza lina Mantar ing, Management Association of the Philippines (MAP) national issues committee chairperson, welcomed the further mobility for the vaccinated. She hopes “this can be expanded further in the future to allow a full and safe

Cabinet execs need Duterte permission to appear at Senate

By Samuel P. Medenilla @sam_medenilla

P

RESIDENT Duterte said he may no longer allow Cabinet officials to attend Congressional hearings if he deems their time is being wasted by lawmakers.

Duterte issued the statement in response to the alleged “abuse of authority” by some senators for repeatedly summoning Cabinet members in hearings so they could be “harassed or berated,” before the public.

“Well, I think I can do it as President really, if there is an abuse of authority there or exceeding the authority of the reasonable time that Congress conducts a hearing, I will limit you to what you can do with the Executive department of the government,” Duterte said, publicly addressing senators.

Duterte has condemned the ongoing inquiry by the Senate Blue Ribbon panel chaired by Senator Richard Gordon on alleged anomalies in the purchase of pandemic supplies by the Procurement Service of the Department of Budget and Management.

The PS-DBM bought the medical supplies using P42 billion in funds transferred by the Department of Health (DOH) —without any memorandum of agreement, thus inviting attention of state auditors. The Senate recently zeroed in on the involvement of Pharmally Pharmaceutical Corporation.

Many of the subpoenaed source persons, Duterte said, end up doing nothing in the said hearings since senators

would tend to only focus on some source person, which includes Health Secretary Francisco Duque III. At Monday’s sixth Blue Ribbon hearing, Gordon apparently sought to rebut Palace accusations that the probe was taking time of many health officials away from urgent pandemic response. He noted that the panel had merely invited Duque but the latter had opted to bring along his subalterns, to consult with, thus bloating the number of DOH personnel at the hearing.

Duterte said while he respects the authority of the Senate to investigate in aid of legislation, it has no right to hold government officials in such hearings for long periods during the pandemic.

“It’s a waste of time. And I am ordering Senator—ah Secretary Duque that the next time that he is invited, he should clear the invitation to appear with me and I will decide,” Duterte said.

Presidential spokesperson Harry Roque said Duterte’s pronouncement to require clearance from Cabinet officials attending Congressional hearings has legal basis: the Supreme Court ruling of Neri vs Senate.

To note, former President Gloria Macapagal-Arroyo issued Executive Order No. 464 implementing such clearance requirements.“The Supreme Court said a Cabinet member cannot be accused of contempt when required to attend hearings if it is ordered by President because they are alter egos of the President,” Roque said in a virtual briefing last Tuesday.

reopening of the economy.”

But Mantaring said granular lockdowns will only work if they are reinforced with timely contact testing and tracing.

Meanwhile, she stressed the need for the government to address the resumption of face-to-face classes.

“This is an urgent issue as online learning has been shown to be not as effective all over the world. Impaired learning capability will impact our youth and consequently our country’s competitiveness well into the future,” Mantaring added.

‘Unfair’ to LGUs—Binay

IN a recent statement, former vice president Jejomar C. Binay said the national government is “being unfair to the local governments of Metro Manila” with the implementation of granular lockdowns.

“The national government is not only passing the burden of containing the spread of the virus and providing ayuda [aid] to their constituents to the LGUs,” he stressed. “By making the LGUs take the lead, the national government can now wash its hands of any blame for possible lapses or missteps.”

Binay said it is also “counter-intuitive” to implement the granular lockdown as it is usually adopted when cases are low. “But we are experiencing a surge, and experts say the proper strategy is to contain the virus, which means restricting movements for a certain period.... It defies common sense,” he added.

New machines with Internet capability eyed in 2025 polls

T

HE Commission on Elections is now eyeing to use new machines with Internet capability after the 2022 National and Local polls.

Comelec Commissioner Marlon Casquejo said they are considering phasing out the over 97,000 vote counting machines (VCM), which they have been using since the 2016 elections.

“By 2025 elections, hopefully we will have new machines,” Casquejo said after their inspection activity at the Comelec warehouse in Sta. Rosa, Laguna on Tuesday.

“Maybe after 2022, there will be new technology [which could be used] for the elections,” he added.

He said they will be considering procuring machines which could allow Internet voting or those with direct-recording electronic (DRE) capability, to enable voters to pick their candidates using a touch screen ballot.

Lack of components

AS for the old VCMs, Casquejo said they may use these units for the conduct of special elections and plebiscite, which are currently still being held manually.

To note, Comelec is currently selling its 80,000 units of old Precinct Count Optical Scan (PCOS) for P187 million to free up space in its warehouse in Laguna.

Casquejo noted they could no longer refurbish the said PCOS units, which were used by Comelec from 2010 to 2013, due to the lack of available components.

Possible adjustment

COMELEC is also trying to lease an additional 10,000 VCMs for the 2022 polls to decongest polling precincts and minimize possible infections in the said venues, given the projection that the Covid-19 pandemic will still be prevalent come May 2022.

If successfully bidded out and awarded to a service provider, Casquejo said the additional VCMs will allow them to reduce the number of voters per voting precincts in 2022 polls from 1,000 to just 800.

Comelec declared a failed bidding for the P600million contract last week as service providers complained that the approved budget for it has become insufficient to cover the additional manufacturing and logistics cost caused by the pandemic.

Casquejo said they may consider adjusting the approved budget for the contract during their next bidding for the lease contract in November.

Samuel P. Medenilla

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City NGUYEN THI THUY Mandarin Customer Service Representative 1.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status.

Basic Qualification: Fluent in Mandarin both oral and written.

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

AXISCOVE INC. Unit 1 & 3 14/f Sshg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City XUE, WEI Chinese Speaking It Project Associates 2.

Brief Job Description: Strategize for contingency planning and risk mitigation and schedule project deliverables, support development of division protocol and polices

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

3.

Brief Job Description: Manage a team of Mandarin staff including programmers, analysts and support specialists, evaluating the functionality of systems, consulting computer users to ascertain needs and to ensure that facilities meet user or project requirements.

4.

Brief Job Description: Provides technical support in French

Basic Qualification: With experience in analysing development data, interpretation of data and analysis in Mandarin.

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

Basic Qualification: Proficient in written and verbal communications in English language and excellent knowledge of French, proficient computer and technical skills Salary Range: Php 60,000 - Php 89,999

TANG TO MAI Chinese Speaking Customer Service Representative 13.

14.

5.

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

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

15.

16.

6.

Brief Job Description: Service support solution includes diagnosis, resolution and reporting of customer issues and questions relating YouTube paid content products

MARIA FERIKA SAHERTIAN Senior Process Executive - Data 7.

Brief Job Description: Bahasa social media content moderation; understanding of cultural nuances

17.

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

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg. Mckinley Hill Cyberpark Fort Bonifacio Taguig City

NGUYEN THI TUYET BONG Senior Process Executive

Basic Qualification: Ba or Bs degree holder.

Minimum 2 years customer service support experience working with direct consumers preferably in a B2C environment. Native Vietnamese speaker Salary Range: Php 90,000 - Php 149,999

18.

8.

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

HU, SENLIN Customer Service Representative 9.

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

HU, WENHAN Customer Service Representative 10.

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

LIU, HAIHAN Customer Service Representative 11.

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

Basic Qualification: Strong analytical, diagnostic and problem solving skills, excellent in Mandarin verbal communication skills

Basic Qualification: Fluent in speaking, writing and reading (Mandarin, Folkien, and Cantonese) Atleast college graduate 2-3 years work experience or fresh graduates

19.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (Mandarin, Folkien, and Cantonese) Atleast college graduate 2-3 years work experience or fresh graduates

20.

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

Brief Job Description: Customer service

NGUYEN THI NGOC TRAM Customer Service Representative Brief Job Description: Customer service

SU, SAI Customer Service Representative Brief Job Description: Customer service

SU, WENSHENG Customer Service Representative Brief Job Description: Customer service

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

Brief Job Description: Responsible in answering customer questions about product and services of the company NG KHENG TECK Mandarin Supervisor

21.

25.

YANG, CHAOQUN Mandarin Customer Support Representative 26.

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

Basic Qualification: Knowledgeable in computer applications Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate Level and Fluent in Mandarin / Basic English

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

DE ASSIS SANTOS, WELITON Managing Partner/restorative Technician 22.

Brief Job Description: The managing partner shall work hand in hand the operations of the company, responsible for overseeing the clinic operations and management of clinic staff and the laboratory members.

23.

Brief Job Description: Responsible in IOS Service problems technical and other computer software issues

LI, WENTAO Senior IOS Developer (Chinese Character Software) 24.

Brief Job Description: Responsible in IOS service problems, technical and other computer software issues

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

JEON, SOOYOUNG Korean Customer Service Representative 27.

Brief Job Description: Create and manage product in conjunction with marketing’s strategies to Korean Customer Representative KWAK, MYUNG SEOK Korean Customer Service Representative

28.

Brief Job Description: Create and manage product in conjunction with marketings strategies to Korean Customer Representative PARK, CHOL SU Korean Customer Service Representative

Basic Qualification: College Graduate/Level and fluent in Mandarin / Basic English

29.

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

JARDINE SCHINDLER ELEVATOR CORPORATION 20th Floor Insular Life Fcc Tower 1 Alabang Muntinlupa City

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

Brief Job Description: Managing incoming calls and customer service inquiries

SEE THUAN UN Treasurer And Finance Director 30.

Brief Job Description: Direct and coordinate the financial activities and systems in accordance with the strategies and policies of Schindler

31.

Basic Qualification: Proficiency in English, Mandarin and other Multi Lingual language

Brief Job Description: Responsible for managing overall operation, recruiting staff and creating budgets.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English, Mandarin and other Multi Lingual language

SHAH, PAARSHVA Product Manager

32.

Brief Job Description: Treasury services product development, maintenance and analytics. Commercialization of existing products. Support key business initiatives and client requirements. Liaise with key stakeholders to identify requirements and develop end-to-end product solutions. Preparing marketing materials and client presentations.

Basic Qualification: advanced degree, ideally an mba, with at least 10 years of senior management experience Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Proficiency in english chinese and other multilingual language

Basic Qualification: At least College graduate, speaks and write fluently (Korean and English) Salary Range: Php 60,000 - Php 89,999 Basic Qualification: At least College graduate, speaks and write fluently (Korean and English) Salary Range: Php 60,000 - Php 89,999 Basic Qualification: College graduate, speaks and write fluently (Korean and English) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Graduate of accounting/ certified public accountant or equivalent. 5-10 years experience as Finance Director or work in similar capacity Salary Range: Php 500,000 and above

Basic Qualification: Country managers exclusive for Chinese, Mandarin speaking clients, fluent in Chinese/Mandarin both oral and written.

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

Basic Qualification: At least a college diploma.

Graduate of any Bachelor of Science course is preferred. With at least 5 years working experience.

Excellent written and oral communication skills are required since the Product Manager has to communicate with team members, other departments, upper management and consumers of the company’s products. Expertise in the product or market including specific technical or industry knowledge (banking is preferred). Superior project management and interpersonal skills. Ability to maintain a keen attention to detail, multitask and work well under pressure.

JPMORGAN CHASE BANK, N.A.- PHILIPPINE GLOBAL SERVICE CENTER 23/f Net Plaza 31st St. E-square Zone Fort Bonifacio Taguig City TRIPATHI, PANKAJ Collections Manager Iii 33.

Brief Job Description: Manage departmental performance through designated operations managers. Including monitoring regular productivity, provide guidance on staffing & workload adjustments, and adherence to policy & procedures

GHAGARE, VISHAL LILADHAR Fund Servicing Manager Iii

Basic Qualification: Proficiency in English, Chinese and other multilingual language

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

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

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

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

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

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

JP MORGAN CHASE BANK, NATIONAL ASSOCIATION Units 1, 5, 6, 7 & 8, 30/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

Basic Qualification: Proficiency in English, Mandarin and other Multi Lingual language

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

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

JBCO REAL STATE CORPORATION Shop 8, G/f Aseana 3 Building Bradco Avenue Tambo Parañaque City

OR, PAK CHUEN Country Manager

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

Basic Qualification: Atleast 5 years work experience in development of network equipment operation system; graduate of computer science and technology can speak English and Chinese

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

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

HEIGH IT SOLUTIONS AND SERVICES CORP. 20/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

JIN, PENG Senior IOS Developer (Chinese Character Software)

Brief Job Description: Provide telecommunications network transformation consultation to support technical leadership, provide an output internet protocol (IP) for high level design; introduce and train the local team in using the latest IP products.

QUALIFICATION AND SALARY RANGE

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City

GAN ADVANCED OSSEOINTEGRATION CENTER INC. G/f The Residences At Greenbelt Esperanza San Lorenzo Makati City

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

GUAN, YUYI Customer Service Representative

LEE, YEN Mandarin Accounts Staff

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking, writing and reading (Mandarin, Folkien, and Cantonese) Atleast college graduate 2-3 years work experience or fresh graduates

Brief Job Description: Configure and maintain computer networks

LIN, CHIH-AN Mandarin Administrative Specialist

Basic Qualification: Bahasa language proficiency Salary Range: Php 60,000 - Php 89,999

HSIEH, CHIA-CHUN Computer System Analyst

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHOU, TAO Internet Protocol (IP) Solution Sales Manager For Transport Network Project

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

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

COSMOLINK GLOBAL SOLUTIONS INC. 11 Ortigas St. Brgy. 076 Pasay City Flr. No. 6th, 7th & 8th Bldg. No. 100 Necc Bldg., Andrews Ave. St. Newport City Subd. District 1, Barangay 183 Pasay City

CHEN, WEIHUI Customer Service Representative

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

No.

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

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 12/f One/neo Bldg 26th St. Cor 3rd Ave., Bgc Fort Bonifacio Taguig City

LI, YANGMEI Mandarin Speaking Project Supervisor

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

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

CGI (PHILIPPINES) INC. 2/f One World Square Mckinley Hill Pinagsama Taguig City

SAYEH, MAHMOUD Multilingual Service Desk Member

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

QUALIFICATION AND SALARY RANGE

DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City

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

BZC IT SERVICES INC. 3f Salcedo One Center 170 Salcedo St. San Lorenzo Makati City WU, CHANGJIU Mandarin Software Quality Assurance Analyst

12.

A13

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

TAN, JINRUI Customer Service Representative

Wednesday, September 15, 2021

34.

Brief Job Description: Responsible for providing operational service related to fund accounting and administration, benefit payment services, compliance reporting services, investment analytics and consulting, financial and valuation reporting, investment operations outsourcing services, transfer agency services, or trust and fiduciary services

Basic Qualification: Extensive experience in managing large teams ; exposure in retail collections strongly desired Salary Range: Php 500,000 and above Basic Qualification: Bachelor’s degree or equivalent (business discipline preferred).

Minimum 14 years in Financial Services industry, with preferably 5-7years in Transfer Agency or Fund Services. More than 7-10 years people management experience.

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

BusinessMirror

A14 Wednesday, September 15, 2021

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

JSLINK INTERNATIONAL CORPORATION 803-804 Ri-rance Building Aseana Enclave Aseana City Tambo Parañaque City

35.

DONG, SHENGNAN Accounting Specialist-Bilingual Brief Job Description: In charge with billing and collection

Basic Qualification: Can speak and write English and mandarin wit 2 years experience in accounting

JIANG, DONGTING Mandarin Speaking Marketing Specialist 36.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business LUAN, QIANG Mandarin Speaking Marketing Specialist

37.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business ZHOU, YONGHUI Mandarin Speaking Marketing Specialist

38.

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

LI, HUI Mandarin Technical Support 51.

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

53.

54.

39.

Brief Job Description: Head of Operations Department

40.

Brief Job Description: Plans and supervised in-building solutions (IBS) Projects from start to finish.

41.

42.

43.

Brief Job Description: Interacting with customers queries

PAN, YIFENG Customer Service Representative Brief Job Description: Interacting with customers queries

ZHENG, TUO Customer Service Representative Brief Job Description: Interacting with customers queries

LI, YAN Customer Service Representative

Basic Qualification: Experienced in managing operations; Strong understanding in (sales) CRM tools.

55.

56.

Salary Range: Php 150,000 - Php 499,999 57.

Basic Qualification: Responsibility for construction quality control and monitoring.

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

Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999

58.

44.

45.

Brief Job Description: Assist customers with their issues and inquiries

HENRIQUEZ CAMPOS, MIGUEL ALFREDO Process Expert Brief Job Description: Assist customers with their issues and inquiries

SALAZAR CONTRERAS, RAMON ANTONIO Senior Collector 46.

Brief Job Description: Review statements of accounts and ensure appropriate attention to detail and that they fall in line with SLA’s and client requirements.

PEREIRA RIVEROS, FELIPE EDUARDO Senior Process Expert

47.

Brief Job Description: Review statements of accounts and ensure appropriate attention detail and that they fall in line with slas and client requirements TORRES PEREZ, REBECA DAMARYS Spanish Speaker Collector - Spain

48.

Brief Job Description: Responsible for the management and collection of outstanding customer accounts, whilst maintaining the highest level customer service

59.

60.

Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese dialect (Mandarin, Folkien, Cantonese)

61.

Basic Qualification: Keep close communication with colleagues locally and overseas in order to ensure prompt handling of exceptions and concerns

62.

63.

49.

Brief Job Description: Conducting research and marketing strategies to develop areas of the business opportunities JU, SONG Mandarin Technical Support

50.

Brief Job Description: To troubleshoot, maintain and monitor the computer system

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN NGOC DIEM Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI TAM Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries THET HAN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, XINBIN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries ZHANG, SHENGLIN Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquiries

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

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

XIE, DONGDONG Chinese Speaking Business Analyst 64.

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

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Keep close communication with colleagues locally and overseas in order to ensure prompt handling of exceptions and concerns Salary Range: Php 60,000 - Php 89,999

65.

BIRKINSHAW, MELVYN JOSEPH Senior Consultant Brief Job Description: Performing financial analysis

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

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LIU, HUARONG Marketing Specialists 67.

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

Brief Job Description: Responsible for developing and managing all aspects of the company’s marketing strategy.

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

MANDA, VENKATESHWARLU Delivery Manager 66.

Brief Job Description: To manage or lead teams to service OSI clientele in various capacities and impart competencies, experience and knowledge to OSI Operations Associate and other technical staff.

XU, WENJIE Marketing Specialists 68.

Brief Job Description: Responsible for developing and managing all aspects of the company’s marketing strategy.

Basic Qualification: College Graduate/Level and fluent in Mandarin /Basic English

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

ZHENG, HUI Marketing Specialists 69.

Brief Job Description: Responsible for developing and managing all aspects of the company’s marketing strategy.

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

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 DONG, GUOJUN Project Manager 70.

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

Brief Job Description: Oversee construction projects from beginning to end.

Keep track of inventory, tools and equipment.

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

CHEN, YI-CHUN Customer Relation Representative (Mandarin Translation) 71.

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

72.

LI, JING Mandarin Speaking IT/Customer Support 73.

Salary Range: Php 150,000 - Php 499,999 S&P CONSTRUCTION TECHNOLOGY & DEVELOPMENT CO., INC. U-1168b G/f Veca Bldg. Chino Roces Ave. Cor. Estrella St. San Antonio Makati City

Brief Job Description: Coordinate, respond, and address inquiries of Chinese speaking customers WANG, YULONG Mandarin Speaking IT/Customer Support

74.

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

Brief Job Description: Coordinate, respond and address inquiries of Chinese speaking customers, call center activities

Basic Qualification: Proficient in speaking a foreign language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking foreign language Salary Range: Php 30,000 - Php 59,999

SKYLUSTER TECHNOLOGY, INC. 11/f The Enterprise Center Tower 2 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City

76.

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

Basic Qualification: Have at least 12 years’ overall IT experience with a minimum of 3+ years of Project Delivery.

Experience in managing the project deliverables, managing client and project Risks. Should have at least 2+ years of Account Management which includes work closely with business, IT group and Procurement to manage customer expectations and guide customer on the new technologies and help them transform digital.

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

Basic Qualification: Through extensive & fluency in mandarin language and characters

SEQUOIA SOFTWARE SOLUTIONS INC. 37f Lkg Tower 6801 Ayala Ave. Bel-air Makati City

75.

Basic Qualification: College graduate; fluent in English

Brief Job Description: Handle service support calls, emails and chat related to inquiry from clients and/or customers through mandarin to English translation HSU, WEN-HSIANG Customer Relation Representative (Mandarin Translation)

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

Basic Qualification: Excellent knowledge of construction materials and equipment. Previous experience in a leadership role with strong and proven leadership skills.

Previous work experience in construction management or another similar role. Understanding of construction management processes. Able to plan ahead. Excellent time management ability. Able to multitask with a strong understanding of core manager duties. Excellent communication skills and interpersonal abilities, including negotiation skills.

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

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

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

Basic Qualification: Can Conduct market research to find answers about consumer requirements, habits and trends; Can Brainstorm and develop ideas for creative marketing campaigns; Can Assist in outbound or inbound marketing activities by demonstrating expertise in various areas.

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

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

Basic Qualification: Can Conduct market research to find answers about consumer requirements, habits and trends; Can Brainstorm and develop ideas for creative marketing campaigns; Can Assist in outbound or inbound marketing activities by demonstrating expertise in various areas.

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

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

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

Basic Qualification: Can Conduct market research to find answers about consumer requirements, habits and trends; Can Brainstorm and develop ideas for creative marketing campaigns; Can Assist in outbound or inbound marketing activities by demonstrating expertise in various areas.

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

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

QUALIFICATION AND SALARY RANGE

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

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

O S I CONSULTING, INC. 20/f Zuellig Bldg. Makati Ave. Cor. Paseo De Roxas Urdaneta Makati City

Basic Qualification: Attend to export or import specific processes as assigned in the team

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

No.

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

NEW CHANGE TECHNICAL CONSULTANTS INC. 7/f Glorietta 4 Ayala Center San Lorenzo Makati City

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City TIAN, MINGLIANG Mandarin Marketing Specialist

LIANG, JIANHONG Customer Service Representative

NANG HLA HLA PWINT Chinese Speaking Business Analyst

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Monitor disputes and review on account payments

Brief Job Description: Customer Service

CHEN, LEI Chinese Speaking Business Analyst

Basic Qualification: Keep close communication with colleagues locally and overseas in order to ensure prompt handling of exceptions and concerns Salary Range: Php 60,000 - Php 89,999

QUALIFICATION AND SALARY RANGE

NEO INCORPORATED North Tower Centrum Bldg. Aseana Avenue, Entertainment City Baclaran Parañaque City

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

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

DONAN DE HENRIQUEZ, GABRIELA MARIA Process Expert

LI, NA Customer Service Representative

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

MACH 86 TECHNOLOGIES CORP. 5th-13th Flr. Workspace Bldg. 1419 Industry St. Corner Finance St. Mbp Ayala Alabang Ayalaalabang Muntinlupa City HUANG, YONGZHOU Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquiries

Brief Job Description: Customer Service

LE&D ELECTRICAL SOLUTIONS 3f Builders Center Bldg. 170 Salcedo St. San Lorenzo Makati City ZHANG, XIANGJIE Technical Consultant

DINH THI NGA Customer Service Representative

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

LAMUDI PHILIPPINES INC. 32/f Bpi-philamlife Makati Condo. 6811 Ayala Ave. Bel-air Makati City

LAHIRI, RAMJIT Vice President, Operations

Brief Job Description: To troubleshoot, maintain and monitor the computer system

ESTABLISHMENT / ADDRESS

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

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

Brief Job Description: To troubleshoot, maintain and monitor the computer system XIAO, SU Mandarin Technical Support

52.

KING-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505-f The Finance Centre 26th St. Fort Bonifacio Taguig City

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

HE, SHUANGXI Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer account information

XU, JUANJUAN Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer account information

Basic Qualification: Can speak read and type Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak read and type Mandarin Salary Range: Php 30,000 - Php 59,999

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

GAO, YUEHAN Chinese Speaking Business Development Associate 77.

Brief Job Description: Developing, Implementing Sales Strategies, Client Service, Plan and Analysing Sales Data

SUN, XIAOBIN Chinese Speaking Business Development Associate 78.

Brief Job Description: Developing, Implementing Sales Strategies, Client Service, Plan and Analysing Sales Data

Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

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

Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION YUNG, KUOK HOU Chinese Speaking Customer Service Representative

79.

Brief Job Description: Assist/Help customers; Give customers information about products and services.

HSING, HAN-HSIANG Chinese Speaking Data Entry Clerk 80.

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

LIEW CHEE SOONG Chinese Speaking Data Entry Clerk 81.

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

LIN, TING-WEI Chinese Speaking Data Entry Clerk 82.

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

XIE, NAN Chinese Speaking Data Entry Clerk 83.

ESTABLISHMENT / ADDRESS

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

QUALIFICATION AND SALARY RANGE Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

No.

92.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

93.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

94.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

95.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in handling customer questions about services or products.

Excellent Mandarin communication skills.

96.

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

SOLIDLEISURE SOLUTIONS INC. Unit 2602-d & 2603-a West Tower Psec Exchange Road, Ortigas Center San Antonio Pasig City PENG, LIBIN Mandarin Team Leader 84.

Brief Job Description: Maintain and drive program knowledge for self and team

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

85.

Brief Job Description: Maintains financial account; recommend potential products and services; attract potential to a customers

86.

Brief Job Description: Customer Service

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

87.

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

99.

Basic Qualification: Fluent in Mandarin Both Oral and written Salary Range: Php 30,000 - Php 59,999

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

98.

Basic Qualification: At least 19 yrs. old.

Ability to speak write and communicate in Vietnamese

SPEED QUALITY TECH INC. 20/f Techzone Bldg. 213 Sen. Gil Puyat Ave. San Antonio Makati City YUAN, KAIKAI Mandarin Customer Service Specialist

100.

Basic Qualification: Proficient in writing, reading, and speaking in both English/Bahasa/Thai/ Chinese/Vietnamese/Malay Salary Range: Php 30,000 - Php 59,999

101.

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City MAO, XIAOQI Mandarin Customer Support Representative 88.

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

GONG, LIANHUA Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

HU, ZHUO Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

HUANG, JIA Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

HUANG, JINCAN Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

LIN, YIBO Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

SHI, JING Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

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

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg. Edsa Corner Macapagal Ave. St. Zone 10. Barangay 076, District 1 Pasay City NGUYEN VAN TUAN Vietnamese Customer Service Representative

97.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

102.

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

SONG, BOTONG Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

WEI, CHAO Chinese IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

WU, HAIHUI Chinese IT Specialist Brief Job Description: Maintain the operation of electronic device

EDDY WIJAYA IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

LI PI LYANT @ KHIN MOE HLAING IT Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

UNILEVER PHILIPPINES, INC. 7/f Bonifacio Stopover Corporate Center 31st St. Cor 2nd Ave. Bonifacio Global City Fort Bonifacio Taguig City

WRIGHT, ARIFE SEHA Sourcing Unit Director - HPCF

89.

Brief Job Description: Responsible for the performance of the Sourcing Unit sites for Home Care, Beauty & Personal Care & Foods.

Sets site targets following key SC strategic thrusts.

Directs Factory / Site management team. Deploys and implements annual and continuous improvement plans to deliver service, cost, productivity, quality, innovation and safety, health, and environment (SHE) targets.

Basic Qualification: Must have at least 10 years of experience in Supply Chain (Make/ Technology, Safety, Health & Environment, & Quality).

Experience in Supply Chain Planning and Research & Development is an advantage. Must have an Engineering or Business degree and must have the following skills: End-to-end factory management, Salary Range: Php 500,000 and above

103.

90.

91.

CHEN, GUOLIN Chinese It Specialist Brief Job Description: Maintain the operation of electronic device

CHEN, MO Chinese It Specialist Brief Job Description: Maintain the operations of electronic gaming devices.

Brief Job Description: Maintain the operations of electronic gaming devices.

MAGO, KAPIL Corporate Vice President 104.

Brief Job Description: To get involved, co-create and execute the location business strategies in order to attain the goals for business units and profitable growth for the organization.

ROZARIO, ROBERT MELVIN General Manager - Operations 105.

Brief Job Description: As part of the senior management tea you lead a team of operational leaders. You are customer & client facing & strive to deliver excellent customer experience

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

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking Salary Range: Php 30,000 - Php 59,999

BHARDWAJ, ANISH General Manager - Quality 106.

Brief Job Description: Drive / facilitate change within teams. Create a cohesive environment between all functions and within team members.

A15

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

107.

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

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

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

JIN, MINGHUA Mandarin Speaking Technical Support

108.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking Salary Range: Php 30,000 - Php 59,999

109.

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

110.

111.

112.

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

113.

Basic Qualification: Analyze problematic situations and occurrences and provide solutions to ensure company survival and growth.

Brief Job Description: Responsible in answering customers about products and services

CHEN, SONG Mandarin Speaking Customer Service Representative 114.

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

LIN, HONG-YU Mandarin Speaking Customer Service Representative 115.

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

SUN, XIAOLEI Mandarin Speaking Customer Service Representative 116.

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

WU, QINGLIANG Mandarin Speaking Customer Service Representative 117.

118.

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

FU, RUI Marketing Manager Brief Job Description: Analyzing market trends and preparing forecast

ELISSA Production Officer 119.

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible in answering customers about products and services

XU, HONGPENG Mandarin Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

Brief Job Description: Responsible in maintaining the balance between spreadsheet and bank accounts

MARK P POH KIM ANN Malaysian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking

Brief Job Description: Responsible in maintaining the balance between spreadsheet and bank accounts

THOONG SENH MENH Finance Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 200 vacancy/college graduate with experience in maintain gaming devices, fluent in Mandarin and English speaking

Brief Job Description: Responsible in maintaining the balance between spreadsheet and bank accounts

LUU HONG NHI Finance Officer

Basic Qualification: College graduate with experience in maintain gaming devices; Fluent in Mandarin and English speaking Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for the smooth running of computer system, routers , switches, internet and ensure users get maximum benefit from them LAM MY LINH Finance Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 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 support desk

HOU, LIANGJIN Chinese Speaking IT Officer

Brief Job Description: Responsible in testing and enhancements production system

YAN, SHULI Production Officer 120.

WNS GLOBAL SERVICES PHILIPPINES, INC. 9/f 1880 Bldg. Eastwood City Cyberpark Bagumbayan Quezon City

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. Dd Dragon Plaza Dd Meridian P Edsa Ext. Cor. Macapagal Ave. Brgy. 076 Pasay City 1439 Adriatico Cor. Sta. Monica St. 072 Bgy. 669 Ermita Manila

Basic Qualification: 200 Vacancy/College graduate with experience in maintaining gaming devices fluent in Mandarin & English speaking

PHUNG MINH HOANG IT Specialist

Wednesday, September 15, 2021

Brief Job Description: Assist with the testing of new services and enhancements to assessments production system

NAWONGRAM, MANEEYA Thai Customer Service Representative 121.

Brief Job Description: Responsible in answering customers about products and services

Salary Range: Php 500,000 and above Basic Qualification: Healthcare / collections experience mandatory.

Minimum requirement for at least 3 years with relevant experience as a Group Manager or as a Sr. Group Manager Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Black Belt is a six Sigma quality role that impact between level improvements from profitability and customer standpoint Salary Range: Php 150,000 - Php 499,999

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

NGO DUONG CUC TAM Vietnam Customer Service Representative 122.

Brief Job Description: Responsible in answering customers about products and services

QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in Mandarin speaking Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English Malaysian mandarin and other Multi-Lingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English Malaysian mandarin and other Multi-Lingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English Mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English mandarin and other multilingual language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English malaysian mandarin and other Multi-Lingual Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English malaysian mandarin and other Multi-Lingual Language Salary Range: Php 30,000 - Php 59,999 *Date Generated: Sep 14, 2021

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

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Editor: Jennifer A. Ng

Companies BusinessMirror

Wednesday, September 15, 2021

B1

RL Commercial REIT closes little changed from IPO price Photo shows (from left, by row): Philippine Stock Exchange (PSE) President and CEO Ramon S. Monzon, PSE Chairman Jose T. Pardo; SEC Chairman Emilio B. Aquino, Finance Secretary Carlos G. Dominguez III, RCR Chairman Frederick D. Go, RLC Chairman Emeritus James L. Go, RLC Chairman and RCR Director Lance Y. Gokongwei; PSE Director Wilson L. Sy, SEC Commissioner Ephyro Luis B. Amatong, PSE Director Vivian Yuchengco, PSE Director Chief Justice Teresita J. Leonardo-De Castro (ret.), RCR President and CEO Jericho P. Go, RCR Independent Director Chief Justice Artemio V. Panganiban (ret.), SEC Commissioner Kelvin Lester K. Lee; RCR Independent Director Wilfredo Paras, RCR Independent Director Cesar Luis F. Bate, RCR Director and Treasurer Kerwin Max S. Tan, PSE Directors Diosdado M. Arroyo, Consuelo D. Garcia and Ferdinand K. Constantino, BPI President Jose Teodoro K. Limcaoco. Contributed Photo

S

By VG Cabuag

@villygc

hares of RL Commercial REIT Inc. (RCR), the real estate investment trust (REIT) of the Gokongwei Group, closed little changed from its initial public offering (IPO) price on its first day of trading at the Philippine Stock Exchange (PSE) on Tuesday.

Shares of RCR gained a mere P0.01 to close at P6.46 apiece.

RCR, currently the country’s biggest REIT, still managed to brave the fall in the overall market, as the benchmark PSE index declined 47.78 points to close at 6,920.36 points.

“Investors in Philippine stocks turned into profit takers after hitting the 7,000 psychological mark intraday to lock in gains over several weeks of successive run-ups,” said Luis Limlingan, managing director at Regina Capital and Investment Corp.

“In addition, trading activity was focused on the maiden voyage of RCR, which finished slightly up to end its first trading session.”

RCR beat Andrew Tan’s Megaworld Corp.’s MREIT Inc. after it raised some P23.53 billion from its share sale. Its real estate assets have a gross leasable area (GLA) of 425,315 square meters, while its initial property portfolio was valued at P73.9 billion.

Its sponsor, Robinsons Land Inc., has extended to RCR land

leases of as long as 99 years, the longest tenure of land lease among Philippine REITs to date, providing RCR with long term sustainability and growth, PSE President Ramon S. Monzon said.

“It is no surprise therefore that institutional investors, both local and foreign, heavily supported RCR’s IPO [initial public offering].

Local small investors, or LSIs, from 52 provinces and 14 countries likewise joined the RCR investment bandwagon. In fact, for the first time ever in PSE’s history, a local small investor from Iraq invested in an IPO via PSE’s Electronic Allocation System or PSE EASy,” he said.

“Investors in RCR can also look forward to a healthy growth in RCR’s property portfolio as other assets comprising 204,000 square meters of existing office assets, 68,000 square meters of business process outsourcing space, as well as 150,000 square meters of properties in various stages of construction are expected to be injected into RCR’s portfolio in the future.”

RLC will inject Cyberscape Gam-

ma and Robinsons Cybergate Center 1. These two assets have a combined GLA of 72,100 square meters, equivalent to approximately 17 percent of RCR’s total GLA. Cyberscape Gamma is a 37-storey PEZA-registered office development in Ortigas, with about 45,000 square meters of GLA. Meanwhile, Robinsons Cybergate Center 1 is an 18-storey PEZA-registered office building in the Robinsons Cybergate Complex in Mandaluyong, with 27,300 square meters of GLA. BPI Capital Corp. and UBS AG Singapore Branch served as the joint global coordinators, lead managers and joint bookrunners for the offer.

BPI Capital was the lead local underwriter and UBS AG Singapore Branch was the lead international bookrunner for the offer.

China Bank Capital Corp., First Metro Investment Corp. and PNB Capital and Investment Corp. were also tapped as local underwriters, while CLSA Limited and Merill Lynch (Singapore) Pte. Ltd. were the international bookrunners. SB Capital Investment Corp. was also a participating underwriter.

D&L lists ₧5-B bonds on PDEx C

hemical firm D&L Industries Inc. on Tuesday listed its P5-billion maiden bond offering on the Philippine Dealing and Exchange Corp. (PDEx).

“Today is a significant milestone for D&L Industries—a testament to the commitment and technical expertise of dedicated workforce and fitting tribute to Five Lao Brothers who dared to dream big when they started this company in 1963 in their backyard,” company president and CEO Alvin Lao said during Tuesday’s listing ceremony conducted online.

Total bids received amounted to P13.8 billion, equivalent to more than four times the base offer size of P3 billion. As a result, the company

exercised its over-allotment option of P2 billion.

About 83 percent of its P3-billion, Series A 3-year bonds were bought by corporate buyers and the rest were from individual investors. For its 5-year Series B P2-billion bond, some 85 percent of the buyers were corporates and the rest were individuals.

Interest rates were set at the tight end of the marketing range given the favorable response from investors, the company said.

The series A bonds will carry a coupon rate of 2.7885 percent per year, equivalent to the average threeyear rate in the secondary market from August 24 to 26, plus a 50 basis points spread.

PLDT to add EVs to fleet

CLI breaks ground on iconic Masters Tower Cebu

T

elecommuniCations giant Philippine Long Distance Telephone Co. (PLDT) will start utilizing environment-friendly electric vehicles (EV) to augment its present fleet of service vehicles.

The company said Tuesday the EVs will initially be assigned to selected service personnel handling home broadband installation and repair within Metro Manila.

EVs have lower carbon emissions compared with vehicles powered by internal combustion engines (ICE).

“As part of PLDT’s efforts to reduce our carbon footprint, we have developed a re-fleeting strategy that will pilot the use of electric vehicles. While the upfront cost of an EV may seem higher compared to vehicles powered by internal combustion engines, we considered the total cost of ownership and the benefit to the environment,” said Melissa Vergel De Dios, PLDT Investor Relations Head and Head of the Sustainability Office. Lenie Lectura

I

n anticipation of a strong economic bounce back in the South, leading developer in VisMin Cebu Landmasters Inc. (CLI) broke ground on September 14 on its P4-billion mixed-use Masters Tower Cebu which will boost its hotel and Grade A office.

Located at the Cebu Business Park, Masters Tower Cebu will house the 195-room Sofitel Cebu City. The luxury hotel will be a cornerstone of the growing CLI hotel portfolio projected to reach 1,433 rooms by 2025 when Sofitel Cebu City will be completed. This is in line with the listed company’s strategy to grow its recurring revenue to contribute 10 percent of total revenue in 4 to 5 years. Five-star Sofitel Cebu City will be operated by multinational chain Accor, a

The series B bonds will carry a coupon rate of 3.5962 per year, equivalent to the average five-year bond from August 24 to 26, plus a 60 basis points spread.

Interest payments will be made quarterly in arrears.

D&L tapped China Bank Capital Corp. as the sole issue manager, lead underwriter and sole bookrunner of the deal.

The proceeds from the bond issuance will be used primarily to finance the company’s plant expansion in Batangas and for other working capital requirements.

Construction of the said plant started in late 2018 and commercial operations are expected to partially commence in May 2022.

world leading hospitality group headquartered in France.

The 192-meter tower will also offer Grade A office space within the city’s choicest business district.

The building set to be one of Cebu’s tallest is LEED Gold registered and will have eco-efficient features making it attractive to global and other occupiers that put a premium on sustainability. The tower’s exterior evokes Cebu City’s tradition of wood craftsmanship. The delicate, shingled facade is composed of high-performance glass and aluminum forms that are painted to resemble light, textured wood.

CLI Chief Executive Offiver Jose Soberano III disclosed: “CLI is confident that VisMin economic recovery is within view and will happen at an accelerated pace. We

Total estimated capital expenditure for the said facility amounts to approximately P8 billion, with around P3.5 billion remaining to be spent.

“We are overwhelmed with the strong support the fixed income community has shown us in our debut bond issuance. This has allowed us to price our bonds at among the lowest rates in Philippine corporate bond history,” Lao said.

“This maiden offering will be a useful financial exercise for the company and will allow us to fully fund our Batangas expansion, which will be the next leg of growth for the company. We are looking forward to May 2022 when commercial operations finally start.” VG Cabuag

will be ready in three to four years for the bounce back with a longawaited five-star hotel and prime office spaces in the iconic Masters Tower Cebu.”

Masters Tower Cebu is designed by Skidmore, Owings and Merrill, responsible for some of the world’s most technically and environmentally advanced buildings and significant public spaces, in collaboration with GF Partners and Architects, one of the country’s top architectural firms. Sofitel Cebu City’s interiors are designed by Aston Design, a Singapore and Stockholm-based studio known for delivering poetic hospitality interior narratives across a diverse range of typologies—from luxury to lifestyle, urban to resort.

Christmas spending to boost exports

By Tyrone Jasper C. Piad @TyronePiad

L

OCAL exporters are banking on the holiday consumption to maintain their revenue growth this year.

Philippine Exporters Confederation Inc. (Philexport) President Sergio R. Ortiz-Luis Jr. said during the industry group’s general meeting on Tuesday they are optimistic that Christmas spending will bode well for the sector’s performance.

“The coming Christmas holiday is expected to help sustain the growth trajectory that we have been experiencing,” he said.

According to the Philippine Statistics Authority, exports as of end-July grew by 19.7 percent to $42.39 billion from $35.41 billion year-on-year.

Electronics comprised the bulk of the exports for the period at $23.96 billion, showing 17.1-percent growth from the previous year’s $20.45 billion.

The top trading partners of the Philippines include China, United States, Hong Kong, Japan and Singapore.

Ortiz-Luis said they continue to advocate for better movement of goods in pandemic to spur production, noting that exporters have been reeling from the vessel shortage.

“It is unfortunate the solution to the global vessel space issue is not within our sole control,” he said.

Industry sources previously told the BusinessMirror that the shipment delays amid container imbal-

ance started in the latter part of last year when demand started picking up. Delays in delivery range from two weeks to 45 days.

In a Philexport survey earlier this year, 81.6 percent of the about 100 respondents said their products are ready for outbound shipments already but have remained pending amid container imbalances.

The exporters, furthermore, identified the following as their top shipping challenges: lack of space on international shipping lines (90 percent), increased freight rates (56.3 percent) and shortage of containers (45 percent).

With higher freight rates, the Philexport official welcomed the opening of a shipping loan facility by the Small Business Corporation (SB Corp.) recently.

The one-year credit line will be granted to qualified exporters under the Covid-19 Assistance to Restart Enterprises (Cares program). The loan availment shall be up to 20 percent of presented confirmed purchase orders or letter credits.

Meanwhile, Ortiz-Luis renewed his call to oppose hard lockdowns as these bring major disruptions to the business sector. The industry group, instead, supports granular lockdowns to ease mobility restrictions, according to him.

He said it is a must to “put in place medical-grade isolation facilities at strategic barangays” and “ramp up testing and if possible, at no or subsidized cost so people will come out to get tested.”

Google fined for abusing smartphone dominance

S

outh Korea fined Alphabet Inc.’s Google $177 million for hampering the development of rivals to its Android operating system, sustaining a campaign targeting the United States search giant’s dominance in smartphone software.

Regulators accuse Google, whose mobile operating system powers more than 80 percent of smartphones around the world, of using its immense bargaining power to squeeze out the competition. The Korea Fair Trade Commission (KFTC) said Google’s anti-fragmentation agreements (AFA) with manufacturers like Samsung Electronics Co. and LG Electronics Inc. prevented gadget makers from developing or using modified versions of the Android OS. The watchdog banned Google from forcing manufacturers to sign AFA contracts and ordered that it modify existing ones.

Korea in August became the first country to pass a law forcing Apple Inc. and Google to open up their app stores to outside payment systems, setting a potentially radical precedent for their lucrative operations everywhere from India to the U.S. That bill becomes effective Sept. 14, the Korea Communications Commission said in a statement. Tuesday’s 207.4 billion won fine is one of the highest levied in the country over abuse of market dominance, with only Qualcomm Inc.’s mobile chipsets drawing higher sanctions.

Google responded by saying Android has accelerated innovation—including among Korean companies—and improved the user experience, and that it will appeal the decision. “The KFTC’s decision released today ignores these benefits, and will undermine the advantages enjoyed by consumers,” the company said in a statement.

“It shows the KFTC is taking action after years of sitting on the fence,” said Tom Kang, research director at Counterpoint. “It has made the verdict that Google enjoys monopoly power so the regulator will continue to monitor and fine the company and

other internet giants like it. It’s a big win for increased competition.”

The new measures from the KFTC are intended to spur competition by freeing companies to create so-called forks of Android—versions built from the same basic building blocks but modified to suit the manufacturer’s aims, such as targeting different device classes or use cases— without fear of punitive measures from Google.

“The Fair Trade Commission’s action was not limited to mobile devices, but corrective measures included emerging smart devicerelated areas such as smart watches and smart TVs,” Chairperson Joh Sung-wook said in a briefing on Tuesday. “Therefore, we expect that new innovations will occur as some competitive pressures in this area are activated.”

Korean regulators have stepped up scrutiny of tech giants this year, including of local players. Kakao Corp.’s group of companies lost more than $16 billion of market value at one point this month after prominent lawmakers called the nation’s biggest messaging and social media service “a symbol of greed.”

Consumer protection has been a focal point of measures designed to curb the market-control powers of the largest companies, especially in developing spheres such as fintech services.

The market dominance of Google in the mobile arena has solidified as a result of the tech giant’s obstruction of competitors, the Korean regulator said. Amazon.com Inc. and Alibaba Group Holding Ltd. failed to launch mobile OS businesses while Samsung and LG were not able to release devices such as smartwatches and speakers with new services on time due to Google’s obstruction, according to the Commission.

Separately, the KFTC is investigating three other cases related to Google and competition restrictions in its Play Store app market, in-app purchases and the advertisement market. Bloomberg News

B2

Companies BusinessMirror

Wednesday, September 15, 2021

PSE STOCK QUOTATIONS

September 14, 2021

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

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

43.8 113 82.45 24.1 9.08 45 9.76 20 55.3 19.98 112.8 85.1 1.03 4.29 3.31 1.25 0.33 945 0.64 226.4 0.86

45.2 114.2 83.05 24.4 9.12 45.2 9.9 20.05 56 20 113 85.5 1.08 4.3 3.44 1.3 0.35 975 0.67 228 0.91

45.5 113.5 82.9 24.2 9.2 45.4 9.8 20.05 55.4 20.4 114 85.5 1.05 4.3 3.31 1.22 0.33 975 0.63 228.2 0.87

45.5 115.4 83.3 24.3 9.25 45.8 9.9 20.15 56 20.4 115 85.5 1.05 4.3 3.44 1.28 0.35 975 0.64 234.8 0.87

43.8 113 82.45 24.1 8.94 45 9.8 19.96 55.3 19.84 113 85.05 1 4.29 3.3 1.22 0.33 975 0.61 228 0.85

43.8 113 82.45 24.1 9.12 45 9.9 20.05 56 20 113 85.5 1 4.3 3.44 1.27 0.35 975 0.64 228 0.86

900 836,670 2,790,570 113,700 636,600 2,204,000 4,800 250,300 18,130 31,800 204,440 11,620 508,000 30,000 174,000 60,000 100,000 10 231,000 3,690 180,000

40,100 95,179,974 231,495,531 2,748,680 5,771,209 99,714,890 47,340 5,010,476 1,002,805 636,245 23,241,981 991,907.50 515,870 128,840 585,320 76,420 33,800 9,750 143,140 843,332 154,810

12,800 -11,431,825 5,021,995.50 -65,340 -2,795,807 -33,372,425 -1,629,509 8,295 1,080,471 10,206 -43,000 92,500 -

INDUSTRIAL AC ENERGY 10.18 10.2 10.26 10.3 10.18 10.2 34,805,900 356,607,832 1.17 1.18 1.15 1.19 1.15 1.17 102,000 118,420 ALSONS CONS 28.8 28.9 28.85 29.1 28.8 28.8 2,010,500 58,096,235 ABOITIZ POWER 0.58 0.59 0.62 0.62 0.59 0.59 19,481,000 11,643,410 BASIC ENERGY 31.8 31.85 32 32 31.85 31.85 1,174,100 37,452,800 FIRST GEN 77.5 77.8 77.4 77.8 77.4 77.5 439,170 34,036,366.50 FIRST PHIL HLDG 295 296 297.8 298 295 295 200,060 59,264,400 MERALCO 17.84 17.86 18 18.06 17.86 17.86 825,400 14,807,042 MANILA WATER 3.12 3.13 3.12 3.14 3.12 3.12 1,135,000 3,542,630 PETRON PETROENERGY 3.96 4.04 3.95 3.96 3.95 3.96 11,000 43,510 12.44 12.78 12.78 12.78 12.44 12.78 51,200 654,302 PHX PETROLEUM 19.82 19.84 20.2 20.5 19.82 19.84 1,573,000 31,465,616 PILIPINAS SHELL SPC POWER 13.34 13.4 13.26 13.4 13.26 13.34 74,700 993,522 15 16 15 15 15 15 23,900 358,500 VIVANT 5.22 5.31 5.31 5.44 5.2 5.31 193,100 1,015,528 AGRINURTURE AXELUM 2.69 2.7 2.7 2.72 2.68 2.7 126,000 339,640 CNTRL AZUCARERA 13.68 14.5 13.68 14.5 13.68 14.5 2,000 28,018 27.2 27.25 26.95 27.2 26.3 27.2 1,451,300 38,973,900 CENTURY FOOD 15.6 15.62 15.26 16.28 15.26 15.62 1,097,900 17,364,394 DEL MONTE 8.1 8.15 8.07 8.23 8.07 8.15 3,619,400 29,436,061 DNL INDUS 17.1 17.2 17.06 17.7 16.94 17.1 6,688,500 115,788,020 EMPERADOR 80.9 81 81.8 81.8 80.4 81 270,100 21,863,840.50 SMC FOODANDBEV 1.29 1.31 1.29 1.31 1.25 1.31 19,670,000 25,452,190 FRUITAS HLDG 107.7 108 107.7 108.5 107 107.7 41,690 4,496,880 GINEBRA 204.2 204.6 204.8 206 203.2 204.2 534,500 109,499,890 JOLLIBEE 7.31 7.69 7.89 7.89 7.69 7.69 3,100 23,859 MACAY HLDG MAXS GROUP 6.53 6.54 6.55 6.55 6.46 6.54 107,500 700,215 MG HLDG 0.215 0.222 0.215 0.22 0.213 0.215 1,300,000 278,840 MONDE NISSIN 18.22 18.26 17.66 18.26 17.58 18.26 29,259,900 527,480,674 SHAKEYS PIZZA 7.76 7.8 7.95 7.95 7.76 7.8 95,000 742,245 ROXAS AND CO 0.9 0.91 0.91 0.93 0.9 0.91 1,226,000 1,122,540 RFM CORP 4.6 4.65 4.62 4.67 4.62 4.67 22,000 102,050 ROXAS HLDG 1.29 1.41 1.41 1.41 1.41 1.41 3,000 4,230 0.129 0.13 0.131 0.131 0.128 0.129 2,050,000 263,280 SWIFT FOODS 142.8 143 145.1 146 143 143 1,212,250 174,533,540 UNIV ROBINA 0.79 0.8 0.79 0.81 0.79 0.8 1,233,000 982,410 VITARICH 2.33 2.41 2.33 2.33 2.33 2.33 1,000 2,330 VICTORIAS 49.25 50 49.45 50 49.4 50 2,430 121,099 CONCRETE A 51.55 62.6 50.35 50.35 50.35 50.35 60,960 3,069,336 CONCRETE B 1.25 1.26 1.24 1.27 1.23 1.25 1,656,000 2,074,110 CEMEX HLDG 14.22 14.26 14.4 14.4 14.2 14.22 176,100 2,502,324 EAGLE CEMENT 7.95 8 7.95 7.95 7.85 7.95 54,000 427,205 EEI CORP HOLCIM 6.43 6.47 6.45 6.58 6.43 6.43 316,900 2,041,550 MEGAWIDE 6.42 6.43 6.3 6.5 6.3 6.42 995,700 6,395,669 PHINMA 14.34 14.36 14.3 14.36 14.3 14.36 35,400 507,526 TKC METALS 0.96 0.97 0.96 0.97 0.96 0.97 37,000 35,620 1.24 1.25 1.25 1.3 1.25 1.25 4,619,000 5,859,690 VULCAN INDL CHEMPHIL 160 193.9 178 194.8 178 194.8 160 28,648 1.68 1.7 1.68 1.7 1.68 1.7 97,000 163,960 CROWN ASIA 1.7 1.71 1.74 1.74 1.7 1.71 82,000 139,930 EUROMED 4.31 4.5 4.3 4.3 4.3 4.3 60,000 258,000 LMG CORP 5.41 5.45 5.48 5.48 5.45 5.45 66,400 362,183 PRYCE CORP 23.6 23.95 23.9 23.9 23.2 23.9 9,900 234,080 CONCEPCION 2.48 2.5 2.47 2.53 2.45 2.5 5,469,000 13,633,280 GREENERGY 8.47 8.48 8.54 8.6 8.47 8.48 377,000 3,205,505 INTEGRATED MICR 0.93 0.94 0.92 0.94 0.92 0.93 42,000 39,150 IONICS 5.81 6 6 6 5.85 5.85 16,000 93,750 PANASONIC 1.18 1.19 1.17 1.19 1.17 1.19 190,000 222,490 SFA SEMICON 4.76 4.77 4.55 4.8 4.55 4.76 5,059,000 23,821,580 CIRTEK HLDG

-5,060,812 -3,854,355 145,290 -26,426,080 -484,612 26,168,480 1,094,696 839,250 -8,897,354 -30,092.00 -2,700 -408,435 -1,281,290 -20,354,549 -5,510,364 -906,868 -267,380 -1,445,089 -11,300,670 -16,250 21,500 19,879,246 -636,899 -232,070 -18,640 24,655,822 876,990 -1,290,045 115,567 -42,946 -79,460 249,610 217,350 5,448,190 -312,710 -21,010

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS

1.02 6.1 810.5 45.1 10.66 5.32 1 0.55 5.07 6.79 7.62 0.3 554 3.72 64.7 5.99 6.1 0.73 3.3 8.93 0.475 1.3 3.77 3.06 2.04 2.55 1.16 988 117.4 0.255

1.03 6.28 814 45.45 10.68 5.34 1.01 0.57 5.09 6.8 7.79 0.31 555 4 65 6.17 7.99 0.74 3.38 8.94 0.53 1.4 3.8 3.28 2.05 2.76 1.18 1,010 118 0.275

1.05 6.1 815 45.85 10.6 5.29 1 0.57 5.08 6.69 7.55 0.305 570 4.1 65.9 5.51 6.1 0.74 3.3 9.02 0.48 1.39 3.87 3.28 2.13 2.77 1.16 1,010 116 0.255

1.06 6.1 830 46 10.88 5.46 1.01 0.57 5.1 6.82 7.66 0.31 570 4.1 66.55 5.99 6.1 0.74 3.3 9.02 0.48 1.4 3.9 3.28 2.13 2.77 1.18 1,016 118 0.255

1.01 6.1 810.5 45.1 10.6 5.29 0.99 0.54 5.05 6.65 7.55 0.295 555 4.1 65 5.51 6.1 0.72 3.25 8.85 0.47 1.39 3.77 3.28 2.05 2.76 1.16 988 116 0.255

1.03 6.1 810.5 45.1 10.66 5.34 1.01 0.55 5.07 6.8 7.62 0.31 555 4.1 65 5.99 6.1 0.73 3.3 8.93 0.47 1.4 3.77 3.28 2.05 2.76 1.18 988 118 0.255

4,054,000 5,000 207,990 1,022,700 3,219,600 5,501,200 3,366,000 3,193,000 842,400 21,151,800 7,700 1,720,000 220,130 1,000 2,084,420 5,900 1,200 476,000 1,097,000 14,404,700 50,000 24,000 25,086,000 3,000 422,000 7,000 77,000 109,300 706,880 40,000

4,166,330 30,500 170,359,310 46,379,985 34,570,494 29,704,371 3,380,220 1,760,600 4,278,368 143,125,350 58,707 523,550 123,039,985 4,100 137,114,058.50 34,381 7,320 347,550 3,618,800 128,772,766 23,800 33,380 95,522,010 9,840 871,430 19,380 90,110 108,726,935 82,413,743 10,200

PROPERTY ARTHALAND CORP 0.66 0.67 0.65 0.66 0.65 0.66 131,000 86,430 33.6 34 33.75 34.15 33.6 33.6 4,806,500 162,571,140 AYALA LAND 1.1 1.15 1.11 1.11 1.1 1.1 162,000 178,260 ARANETA PROP 38.15 38.2 38.45 38.45 38.15 38.2 861,900 33,021,735 AREIT RT 1.37 1.38 1.36 1.38 1.36 1.37 322,000 439,570 BELLE CORP 0.81 0.83 0.83 0.84 0.82 0.83 170,000 139,640 A BROWN 0.78 0.79 0.78 0.79 0.78 0.78 71,000 55,470 CITYLAND DEVT 0.124 0.125 0.125 0.127 0.121 0.125 31,760,000 3,852,880 CROWN EQUITIES 6.11 6.5 6.1 6.1 6.1 6.1 2,500 15,250 CEBU HLDG CEB LANDMASTERS 3.04 3.05 3.09 3.09 3 3.04 2,406,000 7,313,010 CENTURY PROP 0.45 0.455 0.46 0.47 0.455 0.455 17,940,000 8,244,300 DOUBLEDRAGON 10.14 10.16 10.18 10.2 10.16 10.16 212,600 2,165,302 DDMP RT 1.83 1.84 1.79 1.84 1.79 1.84 21,051,000 38,035,350 DM WENCESLAO 6.64 6.65 6.62 6.65 6.62 6.64 25,000 165,860 0.275 0.285 0.28 0.28 0.275 0.28 620,000 173,500 EMPIRE EAST 0.46 0.465 0.485 0.495 0.465 0.465 36,160,000 17,210,150 EVER GOTESCO FILINVEST RT 7.24 7.25 7.23 7.24 7.2 7.24 2,357,300 17,044,303 1.1 1.11 1.1 1.11 1.1 1.11 3,620,000 4,002,020 FILINVEST LAND 1.05 1.06 1.16 1.18 1.05 1.06 6,321,000 6,932,260 GLOBAL ESTATE 7.32 7.48 7.49 7.49 7.48 7.48 1,700 12,717 8990 HLDG 1.23 1.24 1.24 1.24 1.22 1.24 323,000 398,590 PHIL INFRADEV 1.21 1.23 1.24 1.24 1.2 1.2 120,000 145,910 CITY AND LAND 2.99 3 2.97 3.02 2.96 3 23,651,000 70,808,030 MEGAWORLD 0.305 0.31 0.32 0.32 0.305 0.305 17,950,000 5,571,250 MRC ALLIED 0.53 0.54 0.53 0.54 0.52 0.54 2,563,000 1,355,700 PHIL ESTATES PRIMEX CORP 1.98 2 1.99 2 1.96 1.98 181,000 358,980 RL COMM RT 6.45 6.46 6.55 6.55 6.44 6.46 77,276,500 499,695,645 ROBINSONS LAND 16.46 16.5 16.7 16.92 16.5 16.5 1,551,000 25,728,308 PHIL REALTY 0.255 0.26 0.26 0.265 0.255 0.26 3,330,000 855,650 1.51 1.54 1.53 1.54 1.51 1.54 267,000 409,190 ROCKWELL SHANG PROP 2.64 2.65 2.65 2.66 2.65 2.65 63,000 166,960 STA LUCIA LAND 2.86 2.88 2.88 2.88 2.88 2.88 301,000 866,880 33.5 33.85 33.6 34 33.5 33.5 4,432,500 149,299,470 SM PRIME HLDG SUNTRUST HOME 1.62 1.63 1.64 1.71 1.61 1.62 774,000 1,258,410 3.72 3.73 3.69 3.75 3.69 3.73 285,000 1,061,710 VISTA LAND

SERVICES ABS CBN 11.84 11.86 11.88 12.16 11.72 11.86 1,026,400 12,252,858 13 13.02 13.08 13.08 13 13 1,323,000 17,221,232 GMA NETWORK 3,174 3,200 3,118 3,280 3,118 3,174 303,390 971,866,370 GLOBE TELECOM 1,479 1,480 1,469 1,514 1,467 1,480 360,800 539,999,855 PLDT 0.105 0.106 0.107 0.108 0.105 0.106 209,190,000 22,270,680 APOLLO GLOBAL 34.45 34.5 33.5 34.95 33.45 34.5 13,827,300 477,485,745 CONVERGE 3.9 3.93 3.81 3.96 3.8 3.9 506,000 1,942,450 DFNN INC 8.3 8.33 8.81 8.86 8.3 8.3 12,369,900 105,677,696 DITO CME HLDG 2.02 2.03 2.02 2.05 2.01 2.02 1,224,000 2,478,990 NOW CORP TRANSPACIFIC BR 0.375 0.38 0.375 0.39 0.375 0.375 6,210,000 2,354,600 PHILWEB 2.16 2.2 2.22 2.22 2.12 2.2 762,000 1,653,380 2GO GROUP 8.05 8.12 8.05 8.12 8.05 8.12 15,400 124,521 13.72 14.2 14 14 13.6 14 40,900 572,240 ASIAN TERMINALS CHELSEA 2.51 2.54 2.55 2.55 2.5 2.54 365,000 915,570 CEBU AIR 43.05 43.1 43.8 43.85 42.9 43.1 523,200 22,583,700 INTL CONTAINER 188 189.5 191 193 188 188 999,770 190,397,531 LBC EXPRESS 16.4 16.7 16.4 16.42 16.4 16.4 11,500 188,702 4.62 4.63 4.68 4.7 4.62 4.63 531,000 2,464,550 MACROASIA 1.61 1.67 1.64 1.68 1.6 1.61 141,000 227,440 METROALLIANCE A 1.05 1.07 1.04 1.09 1.04 1.07 598,000 630,410 HARBOR STAR 1.62 1.64 1.61 1.64 1.61 1.64 88,000 143,450 ACESITE HOTEL 0.089 0.09 0.09 0.094 0.089 0.09 93,700,000 8,522,060 BOULEVARD HLDG 2.24 2.3 2.26 2.26 2.23 2.23 65,000 146,310 DISCOVERY WORLD 11 12.86 11.02 11.02 11 11 700 7,704 GRAND PLAZA 0.52 0.54 0.53 0.54 0.52 0.54 553,000 289,150 WATERFRONT 6.58 6.99 6.57 6.57 6.57 6.57 700 4,599 CENTRO ESCOLAR FAR EASTERN U 530 550 560 560 540 540 1,120 606,600 7.2 7.23 6.86 7.23 6.86 7.23 1,900 13,700 IPEOPLE 0.355 0.36 0.355 0.36 0.355 0.36 180,000 64,050 STI HLDG BERJAYA 5.32 5.39 5.49 5.5 5.31 5.39 181,500 971,859 6.48 6.49 6.32 6.53 6.3 6.49 5,668,800 36,740,907 BLOOMBERRY PACIFIC ONLINE 2.05 2.06 2.06 2.06 2.05 2.05 116,000 238,540 LEISURE AND RES 1.79 1.82 1.84 1.84 1.78 1.82 1,686,000 3,046,040 1.93 2.3 2.3 2.3 2.3 2.3 712,000 1,637,600 MANILA JOCKEY 1.51 1.52 1.55 1.55 1.48 1.52 2,075,000 3,139,710 PH RESORTS GRP 0.43 0.435 0.435 0.435 0.43 0.435 4,530,000 1,951,250 PREMIUM LEISURE 9.22 9.25 9.3 9.3 9.15 9.25 908,900 8,407,984 ALLHOME 1.25 1.27 1.27 1.27 1.25 1.25 3,266,000 4,100,200 METRO RETAIL 42.3 42.35 42.85 42.95 42.35 42.35 842,600 35,905,115 PUREGOLD 49.45 49.5 49.65 49.65 49.45 49.5 2,130,600 105,499,925 ROBINSONS RTL 87.45 87.5 87.45 90 87.45 87.5 31,540 2,760,006.50 PHIL SEVEN CORP 1.14 1.15 1.14 1.15 1.13 1.14 1,817,000 2,068,080 SSI GROUP WILCON DEPOT 27.1 27.2 27.3 27.5 26.9 27.1 1,479,100 40,135,635 APC GROUP 0.32 0.325 0.32 0.325 0.32 0.32 70,000 22,500 EASYCALL 5.16 5.34 5.39 5.39 5.16 5.16 600 3,185 460.6 477.6 467 477.6 467 477.6 2,450 1,165,350 GOLDEN MV 7 7.1 7.1 7.1 7.1 7.1 5,000 35,500 IPM HLDG 1.06 1.07 1.04 1.09 1.03 1.06 8,171,000 8,678,460 PRMIERE HORIZON SBS PHIL CORP 4.24 4.35 4.35 4.35 4.35 4.35 5,000 21,750

MINING & OIL ATOK 6.9 7.12 7.1 7.15 6.8 6.9 321,800 2,261,661 1.47 1.48 1.48 1.48 1.47 1.47 1,494,000 2,199,120 APEX MINING 6.2 6.22 6.24 6.24 6.19 6.2 1,013,900 6,294,158 ATLAS MINING 5.1 5.25 5.27 5.27 5.05 5.25 89,100 450,372 BENGUET A 0.29 0.3 0.295 0.3 0.29 0.3 180,000 52,850 COAL ASIA HLDG 2.7 2.8 2.65 2.8 2.65 2.8 232,000 645,300 CENTURY PEAK 6.01 6.39 6.01 6.01 6.01 6.01 2,500 15,025 DIZON MINES 2.28 2.29 2.28 2.3 2.23 2.28 3,438,000 7,822,180 FERRONICKEL GEOGRACE 0.26 0.28 0.26 0.26 0.255 0.255 1,000,000 258,250 0.139 0.14 0.139 0.14 0.138 0.14 10,310,000 1,429,810 LEPANTO A 0.144 0.154 0.144 0.144 0.144 0.144 210,000 30,240 LEPANTO B 0.01 0.011 0.011 0.011 0.01 0.011 16,300,000 169,700 MANILA MINING A 0.01 0.011 0.011 0.011 0.011 0.011 300,000 3,300 MANILA MINING B 0.98 0.99 0.99 1 0.96 0.98 810,000 790,360 MARCVENTURES 1.19 1.21 1.2 1.2 1.2 1.2 252,000 302,400 NIHAO 5.8 5.81 5.95 5.96 5.8 5.8 6,269,200 36,622,155 NICKEL ASIA 0.38 0.395 0.39 0.395 0.38 0.395 130,000 50,700 OMICO CORP 0.9 0.91 0.91 0.91 0.9 0.9 924,000 835,240 ORNTL PENINSULA 5.62 5.65 5.7 5.85 5.61 5.65 325,900 1,857,827 PX MINING 18.8 18.9 18.66 18.94 18.66 18.8 3,655,700 68,986,992 SEMIRARA MINING 0.0075 0.0076 0.0076 0.0076 0.0075 0.0075 24,000,000 180,100 UNITED PARAGON 15.02 15.06 15.28 15.28 15.02 15.06 61,200 922,200 ACE ENEXOR 0.01 0.011 0.011 0.011 0.011 0.011 22,700,000 249,700 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 9,700,000 106,700 ORNTL PETROL B 0.01 0.011 0.011 0.011 0.01 0.01 9,000,000 94,000 PHILODRILL PXP ENERGY 6.52 6.6 6.61 6.7 6.48 6.6 537,000 3,529,974

PREFFERED HOUSE PREF A 100.8 101 101 101 101 101 20 2,020 510 525 520 520 500 500 36,780 18,424,320 AC PREF B1 521 522 521 521 521 521 5,030 2,620,630 AC PREF B2R 42.85 43 43.2 43.2 42.85 42.85 81,100 3,491,975 CEB PREF 102 102.9 102.9 102.9 102.9 102.9 3,000 308,700 CPG PREF A 100.9 102.4 100.9 102.4 100.9 100.9 9,150 928,185 DD PREF 1,000 1,024 1,018 1,018 1,018 1,018 5 5,090 GTCAP PREF A 100.1 105.3 100.1 100.1 100 100 110 11,010 MWIDE PREF 2A 1,007 1,009 1,009 1,009 1,009 1,009 100 100,900 PNX PREF 4 PCOR PREF 2B 1,008 1,020 1,006 1,006 1,006 1,006 100 100,600 1,043 1,086 1,050 1,088 1,041 1,086 27,740 29,121,545 PCOR PREF 3A PCOR PREF 3B 1,114 1,139 1,114 1,114 1,114 1,114 400 445,600 79.1 79.9 79.2 79.9 79.1 79.1 41,330 3,288,097 SMC PREF 2F SMC PREF 2H 76.1 76.8 76.8 76.8 76.05 76.05 18,100 1,380,010 78.2 79 78.15 78.15 78.15 78.15 2,550 199,282.50 SMC PREF 2I 76.5 76.7 76.5 76.5 76.5 76.5 1,200 91,800 SMC PREF 2J

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.2 11.3 11.3 11.3 11.3 11.3 274,000 3,096,200 12.2 12.38 12.2 12.26 12.16 12.2 213,200 2,596,942 GMA HLDG PDR

WARRANTS LR WARRANT 0.26 0.265 0.35 0.35 0.26 0.26 18,560,000 5,340,400 1.62 1.63 1.48 1.65 1.47 1.62 17,582,000 27,906,500 TECH WARRANT

1,538,580 23,111,330 -13,950,380 9,778,408 -4,696,595 -1,119,882 28,921,901 -8,305 -53,676,590 28,299,289.50 3,300 -56,151,018 -22,891,840 230.0001 13,481,430 -1,027,348 -7,680,845 17,179,350 34,000 60,500 759,420 -181,450 -185,096 17,836,160 -1,161,800 -9,950,996 -235,060 24,040 278,750 8,520 -7,609,330 135,300 -152,980 -203,273,135 -3,955,356 -148,450 13,250 -2,943,855 78,540 196,612,200 -112,757,200 288,510 -27,289,255 1,069,210 -130,469 22,220 -65,550 215,000 233,800 12,500 -10,580,585 -12,205,692 -1,642 42,000 -271,250 2,250 10,800 13,750,778 -6,180 -20,700 15,200 901,768 -2,903,550 -1,075,225 11,313,775 -10,509 562,215 -12,800 94,720 200,404 220,630 298,214 572,400 -13,222 1,642,180.00 5,082,074 38,527 39,138,604 22,500 -5,500 8,800 61,012 -2,012,300 -1,001 105,000 -1,209,768 - - -742,700 -837,610

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MERRYMART

18.62 2 4.25 4.16

FIRST METRO ETF

105.7

18.7 2.02 4.31 4.17

EXHANGE TRADE FUNDS

106.2

19.3 2.02 4.33 4.23

19.3 2.03 4.33 4.29

18.7 2 4.28 4.15

18.7 2 4.28 4.17

105,700 464,000 9,000 7,313,000

1,998,450 933,100 38,690 30,902,660

8,040 -134,380.00

105.5 106.2 105.5 106.2 38,170 4,043,971 -834,909

www.businessmirror.com.ph

PSALM keen on drawing more gas from Malampaya

T

By Lenie Lectura

@llectura

HE Power Sector Assets and Liabilities Management Corp.

(PSALM) is pursuing plans to increase the amount of gas it sources from the Malampaya gas field.

PSALM earlier signed a memorandum of understanding (MOU) with the Philippine National Oil Co. (PNOC), the exploration unit of which holds a 10-percent stake in the Malampaya gas project, for the possible sale and purchase of “banked gas” from the same gas field.

There has been no development since the signing of the MOU due to the untimely passing of PNOC President Reuben Lista last August 31. The MOU was signed last June 7.

According to PSALM President Irene Joy Besido-Garcia, the MOU indicates that PNOC will look into whether or not PSALM can draw the banked gas. “If there is a guarantee that PSALM can indeed draw the banked gas, PSALM will buy the banked gas.”

Officials in the power industry define banked gas as the accumulated gas of the Ilijan power plant that was not utilized due to transmission constraint, among others. Since then, the banked gas

was placed under the supervision of PNOC. Based on estimates, the volume of banked gas has declined to less than 100 petajoules.

“We agreed that they would have to coordinate with [the Malampaya consortium] to find out if we can actually get the banked gas. The moment there is a guarantee then that is the time we execute a definitive agreement for the sale of the banked gas,” said Garcia.

The Malampaya consortium is now composed of UC38 LLC, a subsidiary of Udenna Corp. (UC), which holds a 45-percent stake; stateowned PNOC Exploration Corp., 10 percent; and Shell Philippines Exploration B.V. (SPEX), 45 percent.

However, a deal was sealed between SPEX and another UC firm controlled by Davao businessman Dennis Uy. Malampaya Energy XP Pte. Ltd. had signed a deal with SPEX to sell its 45-percent operating interest in SC 38, which includes the Malampaya gas field. The turnover

to Malampaya Energy is expected to be concluded in December this year.

The changes in the consortium members, the fast depletion of the Malampaya gas field and the expiration of the Malampaya gas project’s service contract with the Department of Energy (DOE) three years from now are the concerns laid on the table.

“At moment, we are still awaiting confirmation from both PNOC and Malampaya on whether we can draw the banked gas. But, at the moment, PSALM has its own gas supply agreement with Malampaya where we can actually draw gas from Malampaya gas field pursuant to our own GSPA [gas sale and purchase agreement].

What we want to happen is to increase our drawing from Malampaya by relying on the banked gas of PNOC. That’s why, at the end of the day, we want to make sure that if we commit to buy the banked gas, we can truly be able to draw from it,” said Garcia.

Govt prepares for gas field shutdown T

he Department of Energy (DOE) said Tuesday it would soon meet with industry stakeholders to discuss action plans for the upcoming 22-day shutdown of the Malampaya gas facility starting October 2.

The agency said it will call a coordination meeting with the Malampaya consortium operator, natural gas power plants, Manila Electric Co. (Meralco), and market operator, among the other industry players, to address all issues concerning the Malampaya gas field.

The meeting will also tackle the gas restriction incident that occurred over the weekend. The DOE received information from the Malampaya consortium operator that the gas restrictions will be lifted Tuesday.

However, higher prices may adversely affect consumers.

“These restrictions affect the electricity prices that consumers pay and they will have to be informed on the causes of price increases,” Energy Secretary Alfonso G. Cusi said.

The Malampaya consortium is composed of UC38 LLC, PNOC Exploration Corp., operator Shell Philippines Exploration B.V. (SPEX).

The Malampaya gas facility currently supplies five gas plants with a combined capacity of 3.2 gigawatts

under term supply deals due to expire in 2024. These are Ilijan, 1,000MW Santa Rita, 500MW San Lorenzo, 97MW Avion and the 420MW San Gabriel. Except for Ilijan, all four gas plants are owned by First Gen Corporation.

When the gas plants can’t source gas from the Malampaya gas field, they shift to a more expensive liquid fuel. The gas plants where Meralco sources its requirements are Sta. Rita, San Lorenzo and Ilijan. Together, they supply almost 60 percent of Meralco’s captive market requirements. As of press time, Sta.Rita and San Lorenzo continue to run on wholly on liquid fuel, since there is zero gas supply from the Malampaya gas field. San Gabriel was shut down because it is receiving no fuel.

Meralco, for its part, said it has yet to assess the impact of the Malampaya maintenance shutdown on pricess and overall supply.

“It would be helpful if SPEX can give all stakeholders more lead time or advanced notice to allow everyone to prepare for any gas supply shutoff or reduction especially on how long the ongoing restriction will continue and when it will eventually be lifted,” said Meralco spokesperson Joe Zaldarriaga when sought for comment. Lenie Lectura

PSE urges SMEs to go public

T

he Philippine Stock Exchange (PSE) on Tuesday said its online forum for small and medium enterprises (SMEs) will feature speakers who will share their insights on how SMEs can access the stock market for capital raising through an initial public offering (IPO).

The virtual forum will be held on September 16 and 17 and is open to SMEs. The said forum is organized in partnership with the Department of Trade and Industry and the Securities and Exchange Commission (SEC).

“We invited seasoned practitioners who have been involved in the IPO process to share their insights and experiences in helping companies go public. Through them, we want to give SMEs a preview of what the IPO journey will be like so they can prepare for this landmark event when it’s time for them to raise capital through the stock market,” PSE President and

CEO Ramon S. Monzon said.

On September 16, Asian Development Bank senior economist Shigehiro Shinozaki will discuss the situation of SMEs in the country while Unicapital Inc. First Vice President Pamela Louise Q. Victoriano will talk about the IPO listing process.

MerryMart Consumer Corp.

Chairman Edgar J. Sia II will also share the company’s IPO story.

Sia’s company debuted at the PSE in June 2020 and was the first company to list on the PSE and the SME Board during the Covid-19 pandemic.

The first day of the forum will be capped off with a message from PSE COO Roel A. Refran.

The second day will be opened by a message from SEC Chairman Emilio B. Aquino. It will be followed by discussions on the SEC IPO registration process with Markets and Securities Regulation Department director Vicente Graciano P. Felizmenio Jr. VG Cabuag

mutual funds

September 14, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D

Return

Stock Funds

ALFM Growth Fund, Inc. -a

224.1

14.05%

-4.2%

-3.17%

-1.37%

ATRAM Alpha Opportunity Fund, Inc. -a

1.554

43.7%

2.64%

2.1%

18.35%

-8.19%

-6.17%

-2.03%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0695

16.71%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7388 10.06%

-6.38% n.a.

-8.1%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7723 11.93%

-2.63% n.a.

4.14%

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

5.0083

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

18.37%

-1.71%

-1.25%

1.36%

0.7493

13.53%

-3.78%

-5.09%

18.25%

-5.07% n.a.

-3.32%

98.56

PAMI Equity Index Fund, Inc. -a

45.8577

16.47%

-2.66%

-1.91%

-2.11%

Philam Strategic Growth Fund, Inc. -a

481.92

13.86%

-2.26%

-2.34%

-1.44% 0.95%

1.1077

25.75% n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a

Philequity Alpha One Fund, Inc. -a,d

1.2231

21.33%

-1.14%

-0.8%

4.7%

Philequity Fund, Inc. -a

34.9556

18.51%

-1.8%

-0.85%

0.53%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8971

Philequity PSE Index Fund Inc. -a

4.7126

Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a

15.7% n.a. n.a.

-1.74%

17.25%

-1.98%

787.85

17.24%

-1.92%

-1.26%

-1.72%

0.712

17.59%

-6.1%

-4.52%

-0.96%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6214

16.55%

-4.09%

-2.43%

-0.07%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8995 16.8%

-2.27%

-1.43%

-1.98%

-2.1%

-0.52%

-0.51%

-1.76%

-0.76%

United Fund, Inc. -a

3.3021

17.98%

-1.22%

-1.38%

-1.64%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 105.8066

17.24%

-1.62%

Primarily invested in foreign currency securities $1.2051

16.33%

6.68%

5.69%

0.18%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8479

ATRAM AsiaPlus Equity Fund, Inc. -b

23.04%

12.8%

12.3%

10.47%

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

1.6823

7.34%

0.33%

-1.26%

0.82%

ATRAM Philippine Balanced Fund, Inc. -a

2.2242

8.28%

-0.11%

-1.07%

-2.68%

First Metro Save and Learn Balanced Fund Inc. -a 2.638

9.97%

1.31%

0.26%

0.42%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1946 NCM Mutual Fund of the Phils., Inc. -a

1.9702

7.68%

12.42% n.a. n.a.

2.16%

0.77%

PAMI Horizon Fund, Inc. -a

3.7059

7.02%

1.47%

-0.51%

-2.17%

Philam Fund, Inc. -a

16.5914

7.43%

1.49%

-0.48%

-2.04%

Solidaritas Fund, Inc. -a

2.0708

8.37%

0.04%

-0.22%

-1.11%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5802 9.93%

-0.93%

-1.09%

0.2%

6.16% n.a. n.a.

-3.1%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9909 Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9123

9.52% n.a. n.a.

-3.89%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9002

11.41% n.a. n.a.

-3.53%

Sun Life Prosperity Dynamic Fund, Inc. -a

12.67%

1.86%

0.9042

-1.29%

-1.39%

-2.01%

0.32%

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

$0.03849

-1.59%

3.16%

1.35%

PAMI Asia Balanced Fund, Inc. -b

$1.11

7.29%

4.96%

3.31%

-3.5%

16.9%

9.75%

8.65%

6.99%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2304 7.74%

5.69%

4.65%

2.35%

0.59%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.8284

-1.61%

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

373.26

1.38%

3.06%

2.4%

ATRAM Corporate Bond Fund, Inc. -a

1.9294

-1%

1.23%

0.24%

1.53%

Cocolife Fixed Income Fund, Inc. -a

3.2402

1.27%

3.44%

4.21%

0.79%

Ekklesia Mutual Fund Inc. -a

2.2631

-1.57%

2.17%

1.22%

-1.43%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4411 -0.44%

3.25%

1.69%

-0.49%

Philam Bond Fund, Inc. -a

4.4784

-3.75%

4.71%

1.11%

-3.37%

Philam Managed Income Fund, Inc. -a

1.3191

0.71%

4.01%

2.68%

-0.16%

Philequity Peso Bond Fund, Inc. -a

3.9811

0.68%

4.7%

2.03%

-0.5%

Soldivo Bond Fund, Inc. -a

1.0384

0.27%

5.13%

1.58%

-0.35%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2224

1.44%

5.24%

2.42%

0.51%

Sun Life Prosperity GS Fund, Inc. -a

0.69%

4.52%

1.74%

-0.15%

1.7523

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

$488.5

2.12%

3.17%

2.13%

ALFM Euro Bond Fund, Inc. -a

Є220.73

1.67%

1.16%

0.83%

0.96% 0.71%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2101

-2.25%

2.62%

1.44%

-5.49%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0262 - 0.38%

1.85%

0.86%

-1.5%

PAMI Global Bond Fund, Inc -b

-3.22%

0.67%

-1.02%

-3.6% -0.03%

$1.0534

Philam Dollar Bond Fund, Inc. -a

$2.5349

1.54%

5.42%

2.1%

Philequity Dollar Income Fund Inc. -a

$0.0630708

3.25%

3.53%

2.11%

1.21%

-0.29%

3.43%

0.91%

-0.51%

2.54%

0.68%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.207

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

130.69

1.3%

2.97%

First Metro Save and Learn Money Market Fund, Inc. -a 1.055 1.01% n.a. n.a.

0.66%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3095

0.99%

1.55%

2.77%

2.55%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0585

0.96%

1.58% n.a.

0.58%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3388

31.07% n.a. n.a.

18.52%

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

$0.99

4.21% n.a. n.a.

1.02%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

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

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Entrepreneur

Amid Covid, Japan’s richest builds $38-B tech fortune

T

akemitsu Takizaki, the founder of electronic-sensor maker Keyence Corp., has overtaken Uniqlo billionaire Tadashi Yanai to become Japan’s richest person.

Takizaki is worth $38.2 billion, according to the Bloomberg Billionaires Index, after his company’s shares almost doubled from the start of last year through Monday’s close.

Fast Retailing Co.’s Yanai, who’s lost more than a fifth of his wealth in 2021, has a net worth of $35.5 billion.

It’s an example of how the wealth landscape is shifting amid the Covid-19 pandemic, as a factory-automation entrepreneur replaces a retail mogul at the top of the country’s rich list. Keyence has also been boosted by its forthcoming inclusion in Japan’s blue-chip equity index, the Nikkei 225 Stock Average.

“This positioning is likely to stay for a while,” Mitsushige Akino, a senior executive officer at Ichiyoshi Asset Management Co. in Tokyo, said of the wealth ranking. “The big factor recently was being added to the Nikkei 225.”

Keyence declined to comment.

Takizaki founded Keyence in 1974 and steadily built the company as a maker of sensors, measuring instruments, machine-vision systems and other equipment for industrial automation. The secretive Osaka-based firm is known for its high profit margins and for paying its staff well.

Keyence’s shares have risen 96 percent since the start of 2020 through Monday’s close, giving the company a market value of about $167 billion. By this measure, it’s the second-largest firm in Japan after auto giant Toyota Motor Corp.

The pandemic spurred demand for factory automation as governments around the world imposed social-distancing measures, according to Bloomberg Intelligence analyst Takeshi Kitaura. He pointed to the company’s operating-profit margin of more than 50 percent.

Keyence shares jumped last week after the company was announced as an addition to the Nikkei 225 in a major shakeup of the famous equity gauge. Nintendo Co., the maker of the Switch gaming console, was also among the three companies picked to be included from October 1.

Takizaki, who owns 21 percent of Keyence, has added $5.9 billion to his fortune this year and is now the ninth-richest person in Asia, according to the Bloomberg index.

Fast Retailing’s Yanai, meanwhile, has lost $9.7 billion in wealth in 2021, or about 22 percent of his fortune, as shares of the maker of Uniqlo clothing fell 18 percent through Monday’s close. Fast Retailing lowered its full-year operatingprofit forecast in July on weak summer sales in Japan and government measures to curb Covid-19 in the country and other Asian markets.

Bloomberg News

BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, September 15, 2021 B3

Legalization of opioid-like herb boosts entrep’s biz in Thailand

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By Prim Chuwiruch | Bloomberg News

ntrepreneur Sittichai Komam didn’t waste time once Thailand in late August decriminalized kratom, a coffee-like plant native to Southeast Asia (SEA) that can give users a mild high. Within hours, Sittichai was on Facebook selling freshly picked kratom leaves, sourced from his neighborhood in southern Thailand, to local consumers.

Popular in the US, where advocates say it’s an opioid alternative but critics say it’s a dangerous drug, kratom is the latest herb the Thai government has legalized for production. Though producers can only sell domestically for now, Thailand has plans to allow exports, potentially enabling local dealers to become suppliers to the US, the world’s most lucrative market.

“A lot of the older villagers kept kratom trees to harvest and eat its leaves,” Sittichai, 31, said. “After it became legal, I started collecting and buying the leaves to help them earn extra income.”

Already, the domestic response has been overwhelming: One week after Sittichai launched, he stopped advertising because Thai orders were coming in faster than villagers could harvest the crop.

Still, Thai consumers have many options on social media platforms like Facebook or e-commerce outlets like Sea Ltd.-backed Shopee, where

hundreds of new posts offer stacks of fresh leaves for roughly 100 baht ($3.09) per 100 grams.

Thailand removed kratom from the narcotics list on Aug. 24 and on September 8 lawmakers passed a draft law to allow kratom imports and exports. The moves followed easing of rules against cannabis and hemp.

Behind Indonesia

Thailand lags Indonesia as a producer of the coffee-like shrub, which has leaves that advocates say can kill pain, boost energy and treat depression and high blood pressure.

Thailand had banned its cultivation, consumption or sale, and people convicted of possessing any part of the plant faced hefty fines and lengthy prison sentences.

Thailand’s local kratom market could be worth 600 million baht by next year, based on assumptions that the sector will be smaller than the hemp industry, according to Chai-

Kratom is a coffee-like evergreen that Southeast Asian farmers have long chewed to relieve pain. Bloomberg Photo

Kratom for sale on the shopee e-commerce platform,in Bangkok on September 5.

Bloomberg Photo

wat Sowcharoensuk, an analyst at Krungsri Research. Once Thailand announces rules to regulate trade and large-scale companies join the green rush, though, the export market could be significantly larger, he said.

“Decriminalization will not only benefit farmers but will create a whole new supply chain from upstream to downstream and will likely attract operators looking to turn it into beverages, health supplements and cosmetics,” Chaiwat said.

US market

The biggest potential export market is the US, where online dealers now sell Indonesian-sourced kratom pow-

Workers pack kratom powder at a facility in West Kalimantan, Indonesia.

der and other products to consumers looking for alternatives to opioids.

The US market is estimated to be valued at more than $1 billion annually, with 11 million to 15 million users, according to the American Kratom Association, which based its valuation on imports from Indonesia.

“We expect that the legalization of kratom in Thailand will lead to more acceptance of this botanical, and, in turn, reasonable regulations for growing and processing in the countries where kratom is cultivated,” said Jenn Lauder, director of marketing and advocacy at Kraken Kratom, an Oregon-based vendor that sells products from strains local to Indonesia and Thailand.

“This means that companies in the US could have greater control over their supply chains, including seed-to-sale tracking and quality assurance standards that start at the source, and more consistent raw plant materials,” she added.

The timing of liberalization is awkward. The World Health Organization’s Expert Committee on Drug Dependence, which evaluates the potential harm of psychoactive substances, next month will begin what it calls a pre-review of kratom,

Bloomberg Photo

the first step in a process that could lead to tighter controls.

In the US, the Food and Drug Administration has warned consumers about kratom. “There is substantial concern regarding the safety of kratom, the risk it may pose to public health and its potential for abuse,” Judy McMeekin, the FDA’s Associate Commissioner for Regulatory Affairs, said in a May statement.

Advocates say criticism is unfair.

“Kratom may be much more beneficial than harmful to society and if properly regulated can help with certain addictions, help those struggling with acute and chronic pain, and offer those who are trapped in the opioid addiction cycle a safe path away from that,” said Mac Haddow, senior fellow on public policy at the American Kratom Association.

In Thailand, decriminalization is getting good reviews from people like Phatcharaphon Thupaphong, a 47-year-old caddie who chews kratom to get an energy boost while working under the tropical sun.

“Before it became legal, I’d have to hide the leaves under my car seat and they’d shrivel from the heat by the time I got home,” she said. “Now I don’t have to worry.”

Pinoy product offerings in Woolworths expands despite contagion

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ilipino product offerings in Woolworths expanded to over 200 stores across Australia in spite of the pandemic after Canberra’s largest supermarket chain increased its distribution of Pinoy food products to expand their reach to the Filipino-Australian community.

Filipino food favorites such as mixes and sauces, vinegars, noodles, savory snacks, halo-halo mixed fruits, canned sardines and tuna continue to be popular among consumers, according to Bob Harris, marketing consultant for DHN Trading, the importer of the goods.

“Some of the stores carry our full range of Filipino products while other stores are just starting with a few bestselling items,” Harris said.

Nearly 300,000 Filipinos live in Australia, making them the fifth-largest ethnic community in the country, government data show. But beyond this community is the increasing demand from other markets.

DHN Trading reported that the expansion of products in the mainstream super-

markets generated a lot of awareness and increased offtake in Filipino and Asian stores.

“The availability of Filipino products in Woolworths provides consumers with more options, convenience and accessibility, but we are also seeing a multiplier effect on small businesses as they provide niche products [lutong bahay, kakanins] and services [remittances, cargo and shipping services, packages] catering to the community. Overall, the market expands and benefits both consumers and businesses,” Harris added.

“With Filipino food now more accessible in Australia’s mainstream supermarkets, along with hundreds of Filipino grocery or “sari-sari” stores across the country, we can have a taste of home and share it with our Australian friends too,” said Philippine Ambassador to Australia Ma. Hellen B. De La Vega.

Travel through food

Australians can get a taste of the Philippines through the food products on offer and be able to cook a savory adobo using the Philippines’s popular vinegar and soy

sauce brands. Aussies can also try making the Filipinos’ sweet style spaghetti using a well-known sauce or banana ketchup brand.

For dessert, they can whip up a halo-halo using ready-to-mix halo-halo tropical fruits.

Chippy corn snacks, a childhood favorite of Filipinos and ubiquitous in barkada (mate) trips, picnics, and movie marathons on weekends, are also available for Australians to munch on during Netflix moments.

Aside from traditional Filipino products, Woolworths also carries healthy Philippine products such as organic coconut water, virgin coconut oil, coconut flour, banana chips, canned pineapples and other products.

Sustainability matters

One area the Philippine Department of Trade and Industry (DTI) in Sydney is looking at is the possibility of supplying more premium products such as fresh frozen items and plant-based meat products. Another area of interest is sustainable packaging materi- Photo shows a shelf of Filipino foods on display als that are derived from abaca, banana and and sale in one Woolworths chain of supermarother fibrous plant-based materials. kets in Australia. Photo courtesy of DTI

PayMongo kicks off program to help speed up success of online entreps

By Roderick L. Abad

Contributor

F

@rodrik_28

INANCIAL technology (fintech) start-up PayMongo launched its Accelerator Program to help entrepreneurs succeed online on the back of a burgeoning Internet economy that is projected to grow almost four times over the next four years.

This initiative provides tools needed to help micro, small, and medium enterprises (MSMEs) thrive in the increasingly competitive yet flourishing online business ecosystem.

According to the latest report of Google and Singapore’s Temasek Holdings, the Philippines is the fastest growing Internet economy in

Southeast Asia, wherein businesses conducted through markets whose infrastructure is based on the world wide web were worth around $7.5 billion in 2020, and are expected to reach $28 billion by 2025. “That’s a phenomenal growth that I don’t think people will realize yet. So along with this growth comes so much opportunity for MSMEs to get started online, to accept payments online,” PayMongo Chief Growth Officer Luis Sia told reporters during their webinar.

“We’re very excited to launch the Accelerator Program because it brings us back to the heart of our purpose, why we do what we do. Through this program, we’re confident that we will be able to help a lot of small businesses

grow and be competitive in emerging markets like the Philippines,” he added.

Such initiative is open only to businesses in the country that are either existing activated or not yet activated PayMongo merchants. Accepted applicants will be entitled to a two-month fee waiver across all payment channels, invites to exclusive webinars and content, as well as marketing support and features across all of PayMongo’s social-media platforms. Another benefit is access to the company’s several dozens of partners to help with all the aspects of online businesses—from financial discipline to software development and e-commerce fulfillment.

Among the businesses that have

been featured in the online payments platform’s media channels are Iskaparate, an avenue for entrepreneurial mothers to showcase their products online from their home-based businesses; drybrush Gallery, a digital platform that helps Filipino artists survive and continue their passion during the pandemic; and Blanket Hugs, a thriving business owned by a young couple who proceeded to launch their business just as the pandemic was starting to shut everything down.

“I think over the next couple of years, there will be a lot of entrepreneurs who will need this type of help,” Sia said of their newly debuted project that is extendable until next year if proven successful. “We currently

have over 7,000 active merchants, and almost all are in the MSME category.

So, hopefully, with the Accelerator Program, we are able to get more of those types of businesses.”

Incepted in 2019, PayMongo is a business-to-business payments facilitator by founders Sia; Francis Plaza, chief executive officer; Edwin Lacierda; and Jaime Hing III, chief technology officer. This is the first Philippine fintech provider backed by some of the premier start-up accelerators in the world. Initially, it closed a $2.7 million seed round in September 2019.

A year after, it secured $12 million in Series A financing led by Stripe, a technology firm that builds economic

infrastructure for the Internet, joined

by Silicon Valley-based Y Combinator, Global Founders Capital, and Bedrock Capital. To date, the company has raised a total funding of $14.7 million.

PayMongo provides products and services that allow businesses of all sizes to receive payments on the Internet. The standard, easy-to-integrate PayMongo API accelerates Internet businesses by lowering integration time to a few lines of code, while the PayMongo Links product and e-commerce plugins power businesses without the need for development time.

The firm’s payment platform delivers stress-free onboarding, a consistent checkout experience, and worry-free fraud detection systems.

BusinessMirror

B4 Wednesday, September 15, 2021

Editor: Tet Andolong

CLI bullish on Cebu’s tourism industry

Perspective of Büro Ole Scheeren’s architecture and the innovative design of the reimagined luxury resort to open in 2024

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Aside from its awe-inspiring architecture, the resort will feature a luxurious infinity pool, an elevated cascading plunge pool, 360-degree roof-deck bar, a private beach and panoramic ocean views.

By Rizal Raoul S. Reyes

EADING developer in Visayas and Mindanao, Cebu Landmasters Inc. (CLI) is bullish in the most progressive province in the Visayas region as far as tourism is concerned. CLI recently launched the P2.5-billion Abaca Resort Mactan. The expanded luxury boutique hotel is set to be completed in 2024.

“We have always wanted to contribute towards making Cebu a thriving economic and tourism destination,” CLI Chairman and CEO Jose Soberano III said in a recent webinar.

“Abaca Resort Mactan will put Cebu on the radar of this emerging breed of global travelers seeking world-class, authentic, and unique holiday experience,” Soberano added.

Jason Hyatt, the Abaca Group’s founder, managing partner and ex-

ecutive chef said the partnership with CLI will boost their stature and branding as one of the highend resort hotels in Cebu. “As one of the country’s preeminent developers, we are honored that CLI has chosen to partner with us once again through their hospitality arm. Being added to their portfolio of established global brands like Accor, Radisson and Ascott are so inspiring.”

Büro Ole Scheeren, principal architect of the Abaca Resort

Mactan pointed out the 125-room all-suite accommodation featuring exclusively panoramic ocean views is going to provide the need for luxury resorts in Cebu’s aimed to attract global travelers. It will rise 17-stories high on a 4,500 sq m—the property formerly occupied by the multi-awarded Abaca Boutique Resort in Punta Engano, Lapu-Lapu City, a tourism growth center.

“It will create a sense of exclusivity and become a special place for the transformation of privacy,” Scheeren said.

He said the guests of Abaca Mactan Resort can share their collective experiences and create a sense of magic and mystery.

Some of their notable projects are CTBUH Urban Habitat Award 2020 Winner DUO in Singapore, the World Building of the Year 2015 The Interlace in Singapore, and MahaNakhon Tower in Bangkok, a mixed-use high-rise development that upends the conventional typology of the skyscraper. The resort’s design is also

locally supported by the Philippines’s leading architectural firm AIDEA. CLI purchased the property in 2019 and has signed up the Abaca Group to continue operating the hotel and providing luxury experiences tailored for local and global tourists.

Soberano said CLI is expanding its hotel portfolio to 1,433 rooms by 2025. He said this is in line with CLI’s strategy to build up its recurring business contributing 10 percent to the company’s topline.

“We see tourism in the Visayas and Mindanao driving the economy once global mobility is restored,” according to Soberano.

With direct flight connections all over the world, Cebu will be the natural gateway to the Philippines for many travelers seeking to enjoy the country’s world-acclaimed beaches and other attractions. “We will be ready for that boom.”

A huge potential for tourism

In an e-mail interview with the

Avida builds future-proof lifestyle homes in provincial areas

BusinessMirror, Lobien Realty Group (LRG) CEO Sheila Lobien stressed that investing in Cebu’s tourism sector is a logical move for developers as it is one of the major destinations in the country of both local and foreign tourists.

Moreover, it has a seaport, an international airport, and has the existing infrastructure to support tourism.

“Cebu is very reliant on tourism and is second to Boracay as the country’s top tourist destination.

Based on Department of Tourism 2019 figures, foreign tourists numbered 1.4 million which is only 200,000 less than Boracay,” Lobien said.

“Bureau of Immigration statistics showed that around 3.5 million passengers arrived in the Philippines in 2020, an 80-percent drop compared to the 16.7 million in 2019. For Cebu, an 80-percent drop in tourist arrival translates to around P150 billion in foregone annual revenues from tourism; thus, tourism is very important for Cebu’s economic recovery,”

Lobien added.

Barring the existence of new Covid variants that may be more transmissible and more lethal, Lobien said the confidence to travel will probably be back in two years pointing out the Philippines’s current agreements for Covid vaccine supply are enough to fully vaccinate close to 70 percent of Filipinos.

“However, there are three items that may complicate the target timelines: [1] the dates of the deliveries of these vaccine supplies, [2] the need for booster shots for vulnerable members of the population, and [3] the inclusion of younger population to the vaccination program. These three items will require more vaccine supply and will need more time to vaccinate which may further slide our herd immunity goal and timelines.

But two years is a reasonable timeline if we are able to ensure we have sufficient vaccine supply that can be rolled out in time and no new variants will appear to spoil our efforts,” she said.

Home

New GROHE Eurosmart faucets combine refreshed design and minimal installation effort

T Artist’s illustration of the interior of a model unit at Avida Towers Riala in Cebu

By Roderick L. Abad

E

VER since the pandemic hit, property hunters have changed their preferences. They now opt to move outside of the National Capital Region and live in future-proof homes that could provide them ample, livable space in less crowded places.

This is so apparent in provincial areas that have become an attractive choice for real-estate buyers due to major developments happening there, including the construction of modern buildings and infrastructure and the vibrance of the business scene. Given these, out in the provinces— residents experience a freer yet convenient, almost cosmopolitan lifestyle like in the metropolis.

Even before this trend arises, Avida Land has already established vibrant communities around the country, not only in Metro Manila and other major areas in Luzon, but also in the Visayas and Mindanao regions.

In Cebu—the top provincial hot spot in 2020—the developer of choice among the rising middle class has developed two residential condominiums both in

the Ayala Land-owned estate, Cebu IT Park. Located within the mixed-use development, Avida Towers Cebu and Avida Towers Riala offer two-bedroom units, ranging from 52 sq m to 57 sq m, spacious enough for hardworking professionals living in the main business district.

The Ayala Land subsidiary has a mix of horizontal and vertical communities in Iloilo. Avida Village Iloilo features houses and lots, from 30 sq m to 110 sq m. Seated in Ayala Landow ned estate Atr ia Park Distr ict, condominium developments Av ida Towers Atria and Avida Storeys Atria offer convenience to residents being close to essential establishments like a mall and a hospital.

The real-estate developer also has a horizontal community in Bacolod, named Avida Village Northpoint. This quaint subdivision offers houses and lots, with the biggest at 65 sq m fit for a 2-story family home.

Avida Land has residential enclaves in Mindanao as well. In Davao—the second most popular provincial hot spot in 2020—it has vertical projects for prop-

Model unit of a house and lot at Avida Village Iloilo

erty seekers, named Avida Towers Davao and Avida Towers Abreeza. For Cagayan de Oro condo buyers, it offers Avida Towers Aspira and Centrio Towers, both located within the vast mixed-use district.

All these southern region projects promote an active, free-spirited lifestyle to residents amid the pandemic given their recreational amenities. Likewise, they are priced affordably for mid-income families amid the crisis, ranging from P1.7 million to P4.9 million.

Since these developments abound near essentia l establishments and business districts, property owners can enjoy huge savings on transportation expenses once they move into their units. The amenities within the communities also offer quick access to recreational activities that would otherwise be available at a cost. All the essentials and comforts in Avida Land residential enclaves, indeed, are within reach—physically and financially.

HE kitchen has become the heart of the home. Therefore, consumers’ expectations for the modern kitchen are high, also when it comes to the faucet: It needs to be a smart helper for daily tasks, be of high quality as well as aesthetically appealing and fit a limited budget. With the modernized update of the popular classic Eurosmart, GROHE, the global brand for complete bathroom solutions and kitchen fittings, is offering a product matching every kitchen. With new design options, user-centric features and hassle-free installation at an affordable price, GROHE Eurosmart enables installers and planners to offer a cost-efficient portfolio that fulfills customers’ needs.

GROHE Eurosmart Kitchen—a perfect match for every project. No matter if an installer or planner is involved in a large-scale project or a private kitchen renovation— when it comes to kitchen products, customers want to have a choice. With the relaunch of Eurosmart, GROHE equips installers and planners with a wide portfolio of variants and features in an entry price segment, thereby making the Eurosmart kitchen a perfect fit for budget-driven clients with high expectations of quality.

GROHE Eurosmart features U- and Cshaped low, medium and high spouts and two finishes—a brilliant Chrome or matte Supersteel. Moreover, it is also available as a wallmounted faucet.

Convenient performance features add another level of comfort: Pull-out and swivelling spout variants as well as different spray options provide full flexibility in the kitchen.

Additionally, specific variants with sustainable features make the kitchen future-proof: Equipped with GROHE SilkMove ES, Eurosmart faucets, compared to regular faucets, help users save energy because cold water flows at mid-lever position. Furthermore, Eurosmart faucets with GROHE EcoJoy feature a mous-

seur which reduces the water flow without compromising on performance—perfect for saving valuable resources while cleaning the dishes.

GROHE Eurosmart offers further advantages in terms of safety and health: Thanks to its innovative zinc die casting process, Eurosmart offers customers safe water enjoyment. Not only is the surface of the faucet seamlessly closed so that impurities cannot enter, but there are also dedicated inner waterways to make sure that the water is lead- and nickelfree. As there is no contact between these inner waterways and the body material, there is a barrier between hot water and the external surface which helps prevent scalding on hot surfaces. This makes GROHE Eurosmart faucets extra safe, especially for households with children.

Easy installation thanks to GROHE Fast Fixation Plus. GROHE Fast Fixation Plus ensures hassle-free installation of the Eurosmart kitchen faucet in simple steps. The quick assembly system saves time—fitting time is cut by up to 70 percent—and thus enables installers to satisfy customers’ demands efficiently.

For complete kitchen solutions, GROHE also provides a broad product variety of matching sinks, accessories and waste systems—there is no easier way to provide customers with a smart kitchen update.

www.businessmirror.com.ph

Property BusinessMirror

Wednesday, September 15, 2021

B5

BRIDGING ORTIGAS TO BGC BGC-ORTIGAS LINK OFFERS KEY ACCESS TO PORTICO RESIDENTS

Bonifacio Global City

Ortigas

BGC-Ortigas Link bridge

By Edwin Sallan

A thriving center

ONCE a rural settlement known for its residential and industrial structures, Pasig has, over the years, transformed into a highly-urbanized city brimming with multiple retail, wellness, dining and entertainment options.

Propelled by a dynamic and transparent local government, Pasig has also attracted a slew of business investors, allowing its bustling commercial and leisure activities in recent years amid its thriving economy.

For these reasons and more, Pasig is an ideal address for those looking to have convenient access to just about everything, given its close proximity to Quezon City, San Juan, Mandaluyong, Taguig, Makati and Rizal Province.

Pasig also offers a wide array of retail options to visit. For starters, those looking for the best deals and surprising finds will enjoy buying essentials at the Pasig City Mega Market and SM Megamall.Those who prefer premium and luxurious items will find them at the more upscale commercial centers like Ayala Mall’s the 30th, Shangri-La Plaza, and The Podium. Finally, self-proclaimed foodies or those who simply enjoy good food will do well to pursue their gastronomic adventures at the Kapitolyo area.

Pasig residents are also covered by major institutions that provide basic services, among them St. Paul’s College of Pasig and The Medical City which provide quality education and first-rate medical care, respectively.

Newly-opened BGC-Ortigas Link opens up a whole new world PASIG’S location now offers even more convenience with the opening

of the BGC-Ortigas Link.

Also known as the Santa Monica–Lawton Bridge and/or the Kalayaan Bridge, the Bonifacio Global City–Ortigas Link Bridge is a fourlane, two-way bridge across the Pasig River that connects Lawton Avenue in Makati to Santa Monica Street in Kapitolyo, Pasig.

Designed to decongest nearby thoroughfares like EDSA and C5, it aims to cut travel time between Taguig and Ortigas from roughly 30 minutes (up to one hour), to approx 12 minutes. Since the completion of its key component, the Kalayaan Bridge, has been opened to the public since last June (but is currently passable to light vehicles only).

The opening of this road link highlights Pasig’s centrality, as it provides a gateway to more retail and commercial options in Bonifacio Global City. Those looking for new food finds should be delighted to find more culinary adventures at BGC’s Serendra, Bonifacio High Street, and Central Square, among others, which showcase even more specialty shops to discover.

Pet owners, in particular, will also take pleasure in walking their pets along the BHS where they are freely allowed. There are indeed numerous “just a bridge away conveniences” waiting to be explored.

The Portico Advantage: Getting there within minutes

ONE particular community that has greatly benefitted from both the booming flourish of Pasig City and the convenience offered by the BGC-Ortigas Link is Portico, a mixed-use district of both highrise residential condominiums and low-rise townhouse clusters.

Enhancing an already ideal lifestyle, this link makes BGC within easier reach of present and fu-

cated to open, breathable spaces, Portico also offers its own retail options at the future Shoppes at Portico, affording residents a safer, more convenient retail experience right within its premises.

Owned and operated by Alveo Land, Portico is the choice resi-

Portico at Ortigas | Pasig City Two-Bedroom Unit

Portico at Ortigas | Pasig City Swimming Pool

ture Portico residents, as just about everything one needs is within close proximity.

Designed to reimagine city living through a unique urban courtyard sanctuary, Portico is located in the quiet side of Ortigas which also makes it ideal for those who thrive and enjoy a more laidback lifestyle amidst Pasig’s bustling atmosphere.

Portico’s vibe is characterized

by residential communities surrounded by a generous amount of urban green spaces. Its central courtyard, play area and multipurpose court allow ample opportunities for interaction. Portico’s essential amenities provide access to various conveniences, even as it also offers the occasional breathers from one’s fast-paced lifestyle in the big city.

With 60 to 70 percent dedi-

Portico at Ortigas | Pasig City The Ametrine at Portico

dential haven in Ortigas, standing out with its masterplanned design of shared courtyards and gardens conducive for personal and community development.

For more details on Alveo’s Portico at Ortigas, visit www. alveoland.com.ph.

B6 Wednesday, September 15, 2021

Chelsea Group partners with LGUs to fast track Employee Vaccination Drive

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HELSEA Logistics and Infrastructure Holdings Corp.

(Chelsea Logistics), Udenna Group’s shipping and logistics arm, continues to move forward amidst the pandemic as 62% (1,431) of its employees and trainees have been vaccinated.

The COVID-19 virus has been spreading rapidly as new cases increase and new variants arise. To maintain a safer working environment, the Chelsea Group of Companies has created an internal vaccination campaign in June 2021 that conveys the importance of being vaccinated, while also serving as an encouragement to those who are vaccinehesitant. In partnership with the Local Government Units (LGUs) of the areas where the Group has operations, the progress and impact of the vaccination

drive have manifested as data shows that 53% of sea-based and 67% of land-based employees have been fully vaccinated as of 31 August 2021. Alongside the vaccination campaign for its employees, Chelsea Logistics has also reached out to the employees’ dependents for them to be vaccinated too, and Udenna Corporation, Chelsea Logistics’ parent company, has offered to sponsor this endeavor.

“We are grateful to the LGUs for accommodating Chelsea employees who are part of the A4 priority list. Our target to vaccinate 80% of our manpower by the end of September will soon become a reality. We look forward to the smooth vaccination rollout so we can reach 100% by early Q4. We also thank our employees for the courage and willingness to get jabbed as soon as possible. The positive

response to the vaccination campaign will build customer confidence, allowing the Group to slowly resume pre-pandemic business operations and eventually help the country return to its full economic activity,” said Chelsea Logistics President & CEO Chryss Alfonsus V. Damuy.

The Chelsea Group boosts its internal vaccination campaign as the Philippines is one of the major providers of maritime manpower. The Group continues to encourage its employees and has provided incentives to employees who do their part in preventing the spread of COVID-19 variants, by getting vaccinated. The Group hopes that all its employees will join the vaccination movement and prioritize everyone’s safety and health which will allow the Group to continuously provide unrivalled customer service.

MEDICAL GRADE SURGICAL MASKS DONATION. Singapore-based Temasek Foundation in partnership with the Filinvest group and its foundations donated 160,000 medical grade surgical masks to Manila City in support of the city’s fight against COVID-19. The masks were turned-over by Filinvest group subsidiary Filinvest Land to Manila City Mayor Isko Moreno. Present at the official turn over are, from left: Manila Mayor Isko Moreno, Tristan Las Marias Filinvest Land Executive Vice President and Chief Strategy Officer, Sg Ambassador to the PH Gerard Ho Wei Hong and Manila Vice Mayor Honey Lacuna.This synergy comes in very timely as the Philippines continues to strengthen its efforts to curb the rise of the number of cases in the country and minimize the spread of COVID-19, including the Delta variant which has recently entered all regions across the country.

Entries for PANAta Awards 2021 extended

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GOOD jab, Chelsea Logistics! Over 60% of the Chelsea Group’s employees have been vaccinated already and the vaccination drive continues.

Sanofi collaborates with leading drugstores for efficient delivery of prescription medicine

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HE pandemic has made it difficult for people to move around to acquire basic necessities such as food and medicines, not just because of lockdowns, but because of running a higher risk in catching COVID-19 especially in high foot traffic places such as restaurants, groceries, or pharmacies. It is this predicament that Sanofi tries to remedy in their newest collaborations.

Dedicated to improving access to healthcare, Sanofi has collaborated with Watsons, Southstar Drug, and Rose Pharmacy to offer an easier way for patients to take better care of their health. Patients with diabetes, hypertension, kidney disease, and other lifestyle diseases may now order their prescription medicines either online or via phone, and have them delivered straight to their doors or pick up at their preferred branch sans the waiting. The collaborations started in May 2021, and are continuing to activate even more pharmacies in order to reach more patients.

Keeping in mind the pandemic and the health and safety protocols that we have

to follow to ensure our well-being, Sanofi’s collaboration with these pharmacies fills the current need and demand for insulin and other medicines that require proper cold chain management. Their respective delivery services ensure that medicines like Insulin are properly handled to maintain their efficacy. With just a call or a click, patients and their caregivers can easily order medicines, and are no longer forced to step out of the house and run the risk of exposing themselves to the virus.

In order to ensure that insulins and other medicines are properly handled and delivered, Sanofi has provided their expertise on cold chain management and has standardized the handling of these medicines throughout different branches of the pharmacies located strategically in key cities all over the country.

Anyone with a valid prescription can avail the e-pharmacy services especially for prescription medicines. Pharmacies have systems in place on how they will validate the purchase of these products in the e-pharmacy channel as required by law.

In a bigger effort to improve healthcare, most critical in these times, these collaborations are not exclusive to Sanofi medicines but include other medicines that need proper cold chain storage handling in order to reach the patients. As a global healthcare leader, this is a bold initiative of Sanofi that patients will be able to obtain insulin in the most convenient way.

Sanofi’s newest Second Generation Insulin is also made available through this channel. Compared to the first generation insulin, the newer insulin is recorded to have improved effects on patients’ blood sugar, as well as a lower risk for abnormally low levels of blood sugar. It has also been innovated to have a more gradual drug release and therefore less painful when injected.

“Innovative medicines are crucial in moving us forward, to keep us looking for ways to make treatments better for our patients. We continue to create these innovative solutions to meet the needs of our patients. We always endeavor to improve patient access to proper treatment and education, and with these collaborations, we’re ensuring that patients with diabetes from all over the country have access to innovative medicine,” says Dr. Amal Makhloufi, country lead for Sanofi Philippines.

In line with their dedication to be the best healthcare journey partner to Filipinos, Sanofi also launched the Empower Program, where continuous care and coaching is provided to patients by doctors and diabetes educators. They are also working with Ayala Healthcare Holdings Inc. (AC Health) to promote a more holistic approach to patient care by properly educating patients on their disease, empowering patients to create informed decisions about their care, making them more confident in managing their conditions. KiDS (Kids and Diabetes in Schools) and Youth Health Patrol were also launched with support from the Department of Education, University of Asia and the Pacific, and APB Foundation, aiming to educate the youth about the benefits of living a healthier lifestyle.

UBMISSION of entries for PANAta Awards 2021, the country’s prestigious recognition program for effective and creative marketing communication campaigns organized by brand builders themselves, has been extended until September 17. This was announced recently by its organizers, The Philippine Association of National Advertisers (PANA).

“This is an exciting time for the industry as we continue our legacy of celebrating brands which have made a difference in these challenging times. For this reason, we encourage brands, advertising and creative agencies and media companies to join us by submitting their campaigns. Now more than ever is the time for consumers to feel connected with their brands. So much talent is in the brand-building community and what best way to honor them than through the PANAta Awards 2021,” said Ken Lerona, PANAta Awards 2021 chairman.

The PANAta Award is symbolic of a brand’s inspiring leadership and vision. Navigating through this uncertainty and coming out to be triumphant is a totally remarkable feat. The highest honor it confers is the Grand PANAta Award. It is only given to the campaign that the jury believes has executed the most game-changing, innovative and effective strategies in promoting the brands to achieve outstanding results within the

year of competition. Only those campaigns that have won GOLD in the Brand Builder Awards Categories are eligible to win the Grand PANAta. It is not every year that this is given. Who knows, your campaign might just be ‘it’.

To learn more about PANAta Awards 2021, visit https://pana.com.ph/panata-v2/ index.php. Qualified entries are those that have been aired or used in any form of media from January 2020 to December 2020. Register now by creating a PANAta Awards 2021 account. Final deadline is September 17, 2021. For inquiries, please email alucero@pana.com.ph.

Winners of Gawad Alternatibo break free, convey Filipino stories during pandemic

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ILMS that break free from the constraints of the pandemic and embrace the Filipino narratives get the nods from the jurors of the Ika-33 Gawad CCP Para Sa Alternatibong Pelikula At Video, considered the longest running independent film and video competition in Asia.

With the theme ALPAS: ‘Kwento Natin ‘To! (Breaking Free: Our Stories), this year’s Gawad Alternatibo “conveys the perseverance of the film community and the audience by surfacing, claiming and embracing the stories that reflect the current time. By doing so, the filmmakers and audiences find their strength in weathering any storm that comes by,” the Cultural Center of the Philippines said.

Streamed from August 6 to September 5, the winners were named during the awarding ceremony held on September 4, 2021 live streamed via Gawad Alternatibo, CCP, and Cinemalaya Facebook pages including CCP Kumu Channel.

In the Animation category, First Prize went to My Mamily by Cha Roque; Second and Third Prize winners were Home by Bryan Kent Abias and Haraya by Kem Jaspher D. Abayon, respectively. Honorable Mentions were given to Basurahan by Maki Liwanag and Langit Lupa by Cha Roque, which also received the Special Citation Works by/for/ on Children.

Panambi by Jane Mariane Biyo, Katya Marie Corazon Puertollano, and Myra Angeline Soriaso bagged the top prize in the Documentary category; followed by Kambalingan by Terence Giourdan Gonzalves and Mga Gipaambit Gikan sa Tubig by Anna Miguel Cervantes for the Second and Third Prize, respectively. Iyallatiw by Melver Ritz L. Gomez garnered Honorable Mention and Special Citation Works by/for/on Children, which a recognition it shared with Maliliit Na Hakbang by Richard Soriano Legaspi.

Transit Tyranny by Jonathan Jose Zamora Olarte beat 24 films in the Experimental category to bring home the First Prize award. Mga Bag-ong Nawong sang Damgo kag Katingalahan by Mark Raymund L. Garcia won Second Prize and was named Best Regional Entry. Let Our Response Be by Ruka Azuma garnered Third Prize.

Directors Sonny Calvento, Arnel "Arbi" Barbarona, and actress Adrienne Malabed Vergara adjudged Manyaok by Kate Villanueva as the First Place winner in the Short Feature category.

Second Prize went to Gutab by Mary Andrea Palmares, while Third Prize was awarded to Bangungot by Moses Webb and Honorable Mention to Here Not Here by Mariah Vianca Quinesio.

The jury gave Special Citation for Acting to Katelyn Miñoso from the film Camille Alone by Kaya Guillen, and Special Citation Works for Scriptwriting to Nanay, Nanay, Gusto Ko Siya by Nicca Patricia D. Marcelino.

Special Citation Works by/for/on Children went to Laot by John Lester Rimorin.

All first prize winners will receive Php25,000 each; second prize winners, Php15,000, and third prize, Php10,000. Honorable Mentions will get Php5,000.00 each.

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, September 15, 2021

B7

PHOTO BY GREEN CHAMELEON ON UNSPLASH

WHAT IS QUARANTINE GUILT? FIVE TIPS TO OVERCOME IT QUARANTINE guilt is when you are ashamed for not doing more during the pandemic. It springs from the need to better yourself. It comes when you are slightly calm or comfortable. It is usually triggered as you scroll through social media and see your friends meeting daily work-out records, flaunting newly discovered culinary and language skills, or sharing freshly self-renovated rooms.

United Kingdom-based editor and writer Chloe Lane, who focuses on mental health, career choices and lifestyle choices in one of the world’s largest international higher education networks, and the Benilde Well-Being Center of the De La Salle-College of Saint Benilde understand the presence of such conflict, whether to work on goals or relax through the series of lockdowns.

Here are some tips to get rid of the quarantine guilt: ■ DEALING WITH ALL THESE EXCESS TIMES. Quarantine gives people more time in their hands.

Such time was once spent for physical work, seminars, social events and travel. Forget the hustle, just take it slow. Revisit an old hobby. Find new things you enjoy.

Immerse yourself in music. Watch films. Read books.

Remember that you are staying at home to remain safe from the virus, and thus you are not required to undergo an extensive self-improvement regimen.

■ SOME PEOPLE THRIVE UNDER STRESS—OTHERS DON’T. It is great if you are someone who performs well under challenging situations. But it is fine if you are not. Do not feel pressured to compete with others.

Everyone has their own bad days. Bear in mind that those Facebook and Instagram posts are resolutely curated, too. Some people opt not to show their downsides online.

■ KEEPING YOUR MENTAL HEALTH AND WELL-BEING IN CHECK IS AN ACHIEVEMENT IN ITSELF. It is completely normal to feel anxious about current events. Anxiety can affect you more severely than others. Focus on the things you can control. Be aware of who you talk to.

Consider where and how often you get information on the pandemic. Allow yourself to be sad if things are not going too well. At the same time, appreciate the littlest joys of the day.

■ EXERCISE IS IMPORTANT, BUT DON’T PUNISH YOURSELF. Working out has numerous benefits. It improves memory, protects against chronic diseases, and improves the quality of sleep. It likewise reduces feelings of stress, anxiety and depression. While exercise may be good, motivating yourself may be a bit of a drag. You may consider new and creative ways to get active. Learn a dance move. Walk the dog.

Engage in indoor games. Clean the house.

■ EVERYONE IS WORRIED, EVERYONE IS SCARED— WE’RE ALL IN THIS TOGETHER. Do not be too hard on yourself. Focus on the things that make you safe and happy. Remind yourself that no one will judge you on what you have or have not achieved. Remember: We are in the middle of a pandemic. We do not have to be okay all the time.

Should I pursue a graduate degree?

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ETTING that graduate degree or any other distinctions at the end of your name can truly be rewarding. But do these distinctions carry the same importance and value as they used to? There are more and more organizations that have started to look beyond what is listed as an individual’s educational attainment, especially if a person has a proven track record of accomplishments and handling people.

However, there are also some organizations that still choose to base ability and potential solely on paper even if that person has no proven track record. These organizations rely on certificates and attended training more than what people can actually accomplish based on performance evaluations and achievements. But organizations are replete with titled professionals who do nothing but push paper and warm their seats.

Yes, a graduate degree can probably increase your chances of being hired or promoted but beyond that, can it really improve your actual skills as a professional? In an age where everything can be learned online and people can readily get information on their mobile devices, is it worth the money and time to pursue a graduate program? Before even looking for a degree program, here are some considerations.

Is a graduate degree needed for your professional career growth? For highly technical industries like

information technology, engineering, education, or health-care management, a graduate degree offers more opportunities to move up the corporate ladder.

But it could also be just one of the requirements for promotion. Most organizations still need to consider your performance and contribution to your department before considering you for promotion.

If you are looking to get a graduate degree so you can be promoted, or if you are applying in another organization, make sure you comply with the other requirements.

And even if you decide to pursue a graduate program, chances are you will need a number of years of experience before qualifying. Most graduate programs require relevant experience in your field before they let you into the program because most of the discussions revolve around case studies and application of theory into practice. It will be worth your while to gain experience before pursuing a graduate degree so that your learnings can be properly contextualized and relevantly applied.

You also need to choose the right graduate program. Most people’s natural progression is to pursue the graduate program along the same lines of their undergraduate degree. But with the need to be multidisciplinary in order to thrive in a fluctuating business environment, people are discovering that their interests might not be the same. You need to consider if the graduate program is something you are truly interested in. Otherwise, you might just end up wasting money and time.

Before pursuing a graduate program, find out more about that field by taking free lessons or online courses. It is possible that you might be interested in just one part of the program but not with the rest of it. Take the time to learn more about the program and the requirements for completing it. If you are interested in just one part of it, find other venues where you can learn.

In a previous organization we were involved in, there were only a few offerings of a graduate program for instructional design. The few that we saw, some

of the courses we were already applying and were currently using in our instructional design process.

However, we wanted to take courses that will help us in using our software for creating online courses, but these programs offered very little in terms of using those tools.

We looked for other venues and we ended up going to YouTube for step-by-step instructions and reading blogs and discussion boards for issues we encountered. We realized there are other venues where we can upskill ourselves. And because of that, we saved time and money, and we ended up creating better online content. You have to carefully discern if a graduate program is really needed to improve your output.

Can you afford the cost of attending a graduate program? Of course, you also need to consider the investment needed to complete the program. The better their program, the more expensive it will be.

Not all graduate programs are the same. And those that have a good track record of developing good graduates will be expensive.

And even if you have the money for it, you also need to consider the time you will have to allot for it.

There are graduate programs that allow you to work at the same time, but this will really depend on your workload and your organization’s policy. Make sure you have planned with your manager and your team to temper their expectations and your workload. If possible, take a study leave so you can focus on your studies.

Whatever your reasons for pursuing a graduate degree, it is inevitable that you will increase your employment opportunities, whether within your present organization or outside. It instantly tells your manager or future employer that you have expertise in a specific field, and that you are dedicated to hone your skills in that area. But the value of your graduate degree will only go so far as your performance output. And while a graduate degree proves you are knowledgeable, actual work output and experience will show your skill and work attitude. ■

Pandemic blues? Shake ‘em off THE lingering pandemic may have you singing the blues, but the better approach would be to shake them off.

While staying home during the past year, many have embraced the sporting life to keep healthy, happy and fit. They’ve turned to home gyms or online fitness classes instead of heading to the gym center; converted a part of their home into a yoga studio; biked their way to well-being through stationery bikes, or cycled their way to the office; and turned to their backyards to keep active and busy.

More than that, wellness has evolved from a lifestyle choice to a new status symbol, with an increasing number of fitness buffs showcasing their healthy lifestyles in social media, posting photos of them wearing athleisure apparel for all kinds of activities.

The good news is that Surplus has a new activewear collection designed for comfort, performance, and style,

perfect for both fitness and fashion.

Start your day balancing body, mind and spirit with some yoga and meditation wearing a snug-fit sports bra paired with lightweight and breathable leggings for a good range of motion. Do some cardio or strength training to boost your mood with sweat-wicking tees, gym shorts, or sweatpants.

If you’re going for a quick outdoor run or bike, wear athletic jackets or hoodies to protect your skin under the sun. Make sure also to keep your belongings safe with Surplus messenger bags, gym bags, or waist packs. Staying hydrated is also a must with tumblers and water bottles available in different designs and colors.

The Surplus active collection is available at Surplus stores located in most SM Supermalls nationwide.

The brand can also be found at Lazada, SM Malls Online and ShopSM.

❷

❶ ARMY green

athletic jacket paired with black sweat pants.

❷ WORKOUT

essentials: green crop top plus blue shorts, workout jacket and rechargeable fan.

❸ ADD a pop of

color to your usual black leggings with this neon violet dry fit top.

❶

❸

Sports

POC to field 160 athletes in 6th AIMAG in Thailand

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HE Philippine Olympic Committee (POC) cleared a 160-athlete delegation that will compete in 21 of the 31 sports in the sixth Asian Indoor and Martial Arts Games (AIMAG) Thailand is hosting from March 10 to 20 in Bangkok and Chonburi.

“We have put together a delegation whose members are all potential for the medals,” said POC President Rep. Abraham “Bambol” Tolentino on Tuesday, stressing the focus of selection is on individual and weightcategorized sports.

“The objective is to ride the momentum of the Tokyo Olympics success and surpass our two gold medals won in the last AIMAG in Turkmenistan in 2017,” Tolentino added.

Margarita Ochoa (women Ne-waza -45 kgs) and Annie Ramirez (women Ne-waza -55 kgs) accounted for the two gold medals won in Ashgabat, where 105 Filipino athletes vied in 17 of 21 sports and clinched a total 30 medals (14 silvers and 14 bronzes).

Hidilyn Diaz was part of the delegation to Ashgabat and bagged a weightlifting silver medal. She won again at the Jakarta 2018 Asian Games and clinched the country’s first Olympic gold medal in Tokyo, where boxers Nesthy Petecio and Carlo Paalam captured silvers and Eumir Felix Marcial took bronze for the Philippines’s best performance in the Games.

The 21 sports where Filipino athletes are entered in Thailand are aquatics, 3x3 basketball, billiards, bowling, chess, dancesport, e-sports, indoor athletics, indoor rowing, jiu-jitsu, karate, kickboxing, kurash, muay, pencak silat, sambo, sepak takraw, shooting, skateboarding, taekwondo and wrestling.

Thailand originally scheduled the AIMAG’s sixth edition last May 21 to 30, but was postponed because of the Covid-19 pandemic.

Tolentino said he will present the composition of Team Philippines with chef de mission Ricky Lim, president of the karate association, during the online meeting among national Olympic committee presidents and chefs de mission on Wednesday (September 15).

Forty-five countries, including 18 from Oceania, are expected to send athletes to Thailand.

China is the all-time medals winner in the AIMAG with 419 (204-119-96 gold-silver-bronze), followed by Thailand with 359 medals (108-106-145) and Kazakhstan 305 (103-92-110).

The Philippines ranks No. 18 with a total medal haul of 69 (8-26-35).

BusinessMirror

B8

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DJOKO FALLS AGONIZINGLY SHORT

YES, Novak Djokovic comes out flat and is outplayed in the US Open final. AP

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EW YORK—Novak Djokovic was, understandably, deflated. The quest to do something no man has done in more than a half-century took a lot out of him, physically and emotionally.

The No. 1-ranked Djokovic acknowledged as much after crying during the last changeover of his 6-4, 6-4, 6-4 loss to Daniil Medvedev in the US Open final.

What the 34-year-old from Serbia was not ready to do after coming

Raising quality of PHL volleyball long, tedious task—PNVF’s Suzara

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IELDING three teams in the Asian Volleyball Confederation (AVC) Asian Club Volleyball Championships next month in Thailand is part of a long, tedious process aimed at raising the level of Philippine volleyball.

“It takes years to have a good national team,” Philippine National Volleyball Federation president Ramon Suzara told Tuesday’s online Philippine Sportswriters Association (PSA) Forum.

Suzara, who was elected PNVF chief last January, said there’s no such thing as “overnight success” as far as developing a successful program that will put the Philippines at par with the world’s best.

“This is not a one-shot deal. It’s long-term development,” added Suzara during the forum also graced

by Brazilian coach Jorge Edson Souza de Brito and Filipino coaches Odjie Mamon and Dante Alinsunurin.

| Wednesday, September 15, 2021

Suzara said two women’s teams are set to leave for Thailand on September 27 for the tournament set October 1 to 7, while the men’s team leaves on October 4 for the competition scheduled October 8 to 15.

The 54-year-old Souza de Brito, a member of the Brazilian squad that won the men’s gold in the 1992 Barcelona Olympics, is here on a two-year deal with the International Volleyball Federation and the PNVF as consultant of the national women’s team.

He will coach the Rebisco squad bannered by Aby Maraño, including Rhea Dimaculangan, Dindin SantiagoManabat, Jema Galanza, Eya Laure, Faith Nisperos, Mhicaela Belen, Imee Hernandez, Ivy Lacsina, Kamille Cal, Jennifer Nierva and Bernadette Pepito.

Mamon will call the shots for the Choco Mucho unit that includes Kalei Mau, MJ Phillips, Kat Tolentino, Iris Tolenada, Majoy Baron, Mylene Paat, Kianna Dy, Ria Meneses, Dell

Ominous signs in US Open

THE teen revolution is here and the myth of invincibility shattered.

Those twin spectacles punctuated the just-ended US Open tennis championship at the city that never sleeps: New York.

In a historic weekend marking the end of the Grand Slam season, Filipino-Canadian Leylah Fernandez and

agonizingly short—one victory short—in his attempt to win all four Grand Slam tournaments in a single season was to concede anything in the long term.

There is a new batch of talent making a push toward the top of the sport, but he will press forward.

Yes, Djokovic had spoken beforehand of giving everything he had against No. 2 Medvedev on Sunday, of treating it “like it is the last match of my career.” And, yes, Djokovic did come out flat and was outplayed. Not the best combination for Djokovic: He had an off day—Medvedev had a great one. So, yes, Djokovic found the whole thing disappointing.

Of course he did. That’s only natural. To play so well and give so much, for so long, under an intense spotlight and burdened by pressure, from the outside and from within, is draining. No man had even won a year’s first three major titles, let alone the full quartet, since Rod Laver in 1969.

“It was a lot to handle,” Djokovic said.

He got 27 of the 28 victories necessary for a true Grand Slam.

He just couldn’t get the 28th.

“Part of me is very sad,” Djokovic said. “It’s a tough one to swallow, this loss, I mean, considering everything that was on the line.”

But he will play again, and he will resume his work to overtake rivals Roger Federer and Rafael Nadal and break their three-way tie for the most major championships earned by a man, 20. No one should, or would, Palomata, Dawn Macandili, Tin Tiamzon and Deanna Wong.

Alinsunurin will handle the men’s Rebisco team composed of John Vic de Guzman, Jessie Lopez, Rex Intal, Mark Alfafara, Kim Malabunga, Ish Polvorosa, Francis Saura, Josh Retamar, Jao Umandal, Ricky Marcos, JP Bugaoan, Ysay Marasigan, Nico Almendras and Manuel Sumanguid.

Suzara said that because of the pandemic, forming and developing a more potent national team has become even more challenging.

“But we have to move forward. I don’t want volleyball to stop or die because of the pandemic,” he said as he raised the possibility of sending these teams to Europe, Brazil or the United States for training.

“We’re used to the Asian level now. We need to bring them to Europe, Brazil or the US. We’re going that direction,” Suzara told the forum presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. and powered by Smart with Upstream Media as the official webcast partner.

Briton Emma Raducanu battled for the women’s crown that ushered in the advent of teenagers taking over the grandest stage in tennis.

Fernandez turned 19 just days after action started at Flushing Meadows, while Raducanu was 18 when she started her stunning run of US Open victories, starting with her threematch winning streak in the qualifiers to get to the main draw of the fourth and final major of the season.

Never mind that Raducanu defeated Fernandez in their title clash to complete a 10-match sweep without dropping a single set in her 20-set run.

Before yielding a 6-4, 6-3 defeat to Raducanu, Fernandez, whose Canada-born mother is a Filipina, had already made her mark in her amazing march to the finals, defeating a pair of three-time Slam champions in German Angelique Kerber (2016 US Open winner) and, most notably, Japan’s Naomi Osaka. Osaka, the world’s highest paid female athlete today, was the defending titlist deprived by Fernandez from capturing her third US Open crown since 2018.

The Raducanu-Fernandez showdown was the first allteen US Open finals since Serena Williams, then 17, beat

be surprised if No. 21 for Djokovic arrives just a few months from now at next year’s Australian Open, a tournament he has won nine times.

Even if the three men he faced in Grand Slam finals in 2021 are in their 20s—Medvedev, 25, at the Australian Open and US Open; No. 3 Stefanos Tsitsipas, 23, at the French Open; No. 7 Matteo Berrettini, 25, at Wimbledon—and there are other, younger, players moving up the ladder, too, Djokovic is not ready to step aside.

“The transition was inevitable,” Djokovic said Sunday, before stating: “The older guys are still hanging on.”

Well, he is, certainly.

Federer, who turned 40 on August 8, and Nadal, 35, both missed the US Open because of season-ending injuries.

It will be fascinating to see how Federer’s latest knee operation and Nadal’s chronic left foot pain affect them moving forward.

And it will be fun to watch whether the group a decade or more their junior, which also includes 2020 US Open champion Dominic Thiem, 28, and the man he beat in that final and Djokovic edged in a five-set semifinal Friday, Tokyo Olympics champion Alexander Zverev, 24, plus even younger guys like Americans Sebastian Korda, 21, and Jenson Brooksby, 20, can make serious strides and win a major—or majors. AP

Raducanu leapfrogs 127 places to No. 23, Fernandez now No. 28

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EW YORK—Emma Raducanu’s qualifier-tochampion run at the US Open vaulted her 127 spots in the Women’s Tennis Association (WTA) rankings to a career-high No. 23 on Monday.

The 18-year-old from Britain began the year ranked 345th, rose to 179th in July by reaching Wimbledon’s fourth round in her Grand Slam debut and arrived at Flushing Meadows at 150th. Then Raducanu won all 20 sets she played across 10 victories—three in qualifying and seven in the main draw—to become the youngest woman to win a major championship since Maria Sharapova was 17 at Wimbledon in 2004.

Raducanu is the first qualifier to win a Grand Slam title.

The player she beat, 6-4, 6-3, in the final Saturday, 19-year-old Leylah Fernandez of Canada, also made a big jump in the rankings, going from 73rd to a careerbest 28th.

Ash Barty and Aryna Sabalenka stayed at Nos. 1 and 2, while 2018 and 2020 US Open champion Naomi Osaka slid from No. 3 to No. 5 after losing in the third round to Fernandez.

Karolina Pliskova is now No. 3, and Elina Svitolina is No. 4 after each moved up a spot by getting to the quarterfinals in New York.

Two players who made their major quarterfinal debuts at the US Open made substantial jumps:

South Africa’s Lloyd Harris rose 15 spots to No. 31 and Spain’s 18-yearold Carlos Alcaraz went up 17 spots to No. 38.

Two Americans moved into the Top 20 for the first time Monday: Coco Gauff, 17, is No. 19 in the WTA rankings; Reilly Opelka, 24, is No. 19 in the Association of Tennis Professionals rankings. AP

US Open champion Emma Raducanu and Leylah Fernandez attend The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the “In America: A Lexicon of Fashion” exhibition on Monday in New York. AP TOKYO Olympics bronze medalist Eumir Felix Marcial pays Senator Manny Pacquiao a visit.

Marcial dreams of fighting in Pacquiao’s undercard

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By Josef Ramos

OKYO Olympics bronze medalist Eumir Felix Marcial badly wants to fight in the undercard of Senator Manny Pacquiao if ever the former eighthdivision champion does a farewell fight in January.

“I really like to be on that card as one of his boxing followers.

It’s a dream of any fighter to be in Senator Pacquiao’s fight card,” Marcial said. “Senator Manny inspired me as a boxer during his early years, and until today. I hope they give me a chance.”

Marcial visited Pacquiao at his Forbes Park mansion in Makati City on Tuesday and there, the middleweight figher from Zamboanga City

expressed his desire to fight in the Filipino boxing icon’s card.

Marcial debuted as a professional last December 16 and booked a unanimous decision win over American Andrew Whitefield in a four-rounder in Los Angeles, California.

Marcial said that at the moment, he is busy with post-Olympics activities and has yet to seriously hit the gym.

“There’re a lot of activities to attend to, but we’re still doing a lot of light workouts for now,” he said.

“When I’ll fight—and who I face— is up to Sir Sean [Gibbons]. We are still establishing our coaching staff. My cousin [Anthony Marcial] and my wife Princess are also processing their US visa.”

Martina Hingis, 18, in the 1999 edition.

Expect more upheavals from the pair from hereon.

The way they played and conducted themselves during their fairytale journey spoke volumes of their maturity beyond their age.

And how about Daniil Medvedev’s conquest of Novak Djokovic?

To say it was the shocker of the year would also be like saying, truly, that Yordenis Ugás’s win over Manny Pacquiao last month was the upset of the year.

Like Pacquiao, Djokovic wasn’t also supposed to lose—and in astonishing straight sets at that, 6-4, 6-4, 6-4.

In marching to the finals, Djokovic has compiled 27 straight wins on his way to sweeping the year’s first three majors in the Australian and French Opens, and Wimbledon.

And against Medvedev, the 25-year-old, 6-foot-6 Russian, Djokovic, 34, held a 5-3 head-to-head duel.

The wise-money bet all went to Djokovic, who, with a victory, would have made him the winningest Slam winner in history with 21 majors—one up on Rafael Nadal and Roger Federer, both absent on injuries.

Gibbons, president of Pacquiao’s MP Promotions, earlier said that renowned strength and conditioning coach Angel “Memo” Heredia would be attending to Marcial, who expects to fly to the US next month.

Marcial could be fighting in November or December in the US, according to Gibbons.

After losing World Boxing Association welterweight champion Yordenis Ugás of Cuba last August 21 in Las Vegas, Pacquiao’s camp strongly hinted of a farewell fight.

Pacquiao is expected to announce decision to fight in January or to retire from boxing, or if he will run for president in May’s general elections.

And Djokovic took a bizarre beating, Medvedev cruelly reducing him into a non-entity in an unbelievable display of tennis wizardry that incredibly made him look like Moses parting the Red Sea. So devastated was Djokovic that, seemingly realizing defeat was imminent, he cried unabashedly in one changeover break in the second set.

With Medvedev becoming suddenly a tsunami of catastrophic proportions—16-6 margin in aces, 38-27 edge in winners—Djokovic is invincible no more. Amid this backdrop, even the greatest crumble.

THAT’S IT EdPam’s Benedict sisig and goat caldereta are world-class because they come straight from the kitchen of Madame Miniang, for years the always beaming, kindly First Lady of Angeles City. Keep punchin’, Podner!...Happy birthday to Ramon Uy, my altruistic compadre from Bacolod City whose devotion to everything organic (from raising African crawlers for fertilizer enhancement to pioneering efforts in propagating solar-powered irrigation systems and other farm implements) has done wonders to agriculture nationwide for the longest time. Mabuhay ka, Pare! Cheers!