BusinessMirror September 29, 2021

‘Go slow on Uy bid to control Malampaya’

By Lenie Lectura

@llectura

L

AWMAKERS urged the Department of Energy (DOE) to exercise “prudence, diligence and integrity” in approving the investment deals of the group of Davao businessman Dennis Uy with the Malampaya consortium.

“As a Filipino, we want an operator who is qualified, who is experienced and who can assure us of continuous flow of gas to our power plants,” Senate Energy Committee Chairman Sherwin Gatchalian said during Tuesday hearing.

He was referring to the SPEX (Shell Philippines Exploration B.V.)-Udenna Group transaction, which the senator said is “more

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complicated and more important” because SPEX will turn over the operation aspect of the Malampaya gas project to an entity whose technical and financial capabilities are being questioned. “If it falls in the hands of an unqualified operator then we are doomed,” added the senator.

The Malampaya consortium is currently composed of UC38 LLC, a subsidiary of Udenna Corp. (UC), 45 percent; state-owned PNOC Exploration Corp., 10 percent; SPEX, 45 percent.

However, a deal was sealed between SPEX and Malampaya Energy XP Pte. Ltd., which signed a deal with SPEX to sell its 45-percent operating interest in SC 38. The turnover to Malampaya Energy is expected to be concluded in December this year.

Gatchalian and Sen. Nancy Binay also wants the DOE to halt ongoing negotiations to extend Service Contract (SC) 38, which was awarded to the Malampaya consortium, until the SPEX-Malampaya Energy deal is cleared by the government.

According to DOE Director for Energy Resource Development Bureau Cesar Dela Fuente, the discussion with the Malampaya operator for the license extension of SC 38 started in November last year. “It started prior to the negotiation of transfer. Until now, SPEX is the entity asking for the extension and not Malampaya Energy,” said Dela Fuente.

“I don’t want to speculate but by hunch, because Udenna is coming in, and there is a conditional

SPA that is why there” an ongoing negotiation. It was back in 2016 when SPEX first asked for [an] extension but nobody back then was giving them light of day, said Gatchalian.

Binay said ongoing discussions on SC 38 extension, which expires in 2024, should be deferred until the next administration. “This is to avoid a midnight deal perception.”

The DOE, for its part, maintained it has exercised its authority to protect the interest of the government and the Filipino people regarding the change in ownership of the members of the consortium operating the Malampaya field under SC 38.

See “Bid,” A2

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WB CUTS PHL GROWTH FORECAST TO 4.3% IN ‘21 MARKET DEMAND HIKE TO LIFT PHL BPO FIRMS

By Tyrone Jasper C. Piad

O

VER 40 contact centers expect to register double-digit growth this year amid the rebound in market demand, according to a recent survey by the Contact Center Association of the Philippines (CCAP).

CCAP Chairman Benedict Hernandez said during a virtual event Monday evening that 42 companies employing more than 300,000 workers expressed the optimistic outlook recently.

“They are forecasting double-digit growth rate,” he said.

Citing data from Everest Group, Hernandez said the

With Congress deliberating on the 2022 budget of the Commission on Elections, the Alliance of Concerned Teachers stages a protest before the South Gate of the House of Representatives on Tuesday to demand bigger provisions for poll workers’ pay and allowances. The Comelec’s budget proposal was cut by P15 billion in the 2022 National Expenditure Program submitted

by DBM, giving rise to concern that the promised increases in honoraria and allowances of members of the Board of Election Inspectors (BEI) will not be given. NONOY LACZA

By Cai U. Ordinario

D

@caiordinario

ELAYS in vaccinating the majority of the population as well as the challenges posed by poor containment measures against Covid-19 will lead the Philippine economy to post growth of below 6 percent until 2023, according to the World Bank.

See “Growth,” A2

@Tyronepiad

local contact center industry is expected to register 9-percent growth in revenues this year, which is higher compared to the global market projection of 6 percent to 7 percent.

The growth in number of employees this year, meanwhile, is pegged at 8 percent to 9 percent. Again, this is more than the global forecast of 6 percent to 7 percent.

“We’ve seen a continued uptick in terms of a rebound in the global market services demand for the work that we do in the contact center. And if the market is rebounding and growing again in an interesting rate, what we’ve seen over the years See “BPO,” A2

OECD tax reform to benefit PHL ‘moderately’

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HE global tax reform being proposed by the Group of 20 (G20) and the Organisation of Economic Co-operation and Development (OECD) may on ly benef it t he Ph i l ippines “moderately,” according to the A sea n+3 Macroeconom ic Re search Office (AMRO).

In an analytical note, AMRO said this is specific to Amount A which aims to reallocate a portion of profit above the threshold to economies where the revenue is generated.

Amount A will apply to multi-

national enterprises (MNEs) with a global turnover of above 20 billion euros and have a profitability of above 10 percent.

“Populous middle-income economies, such as Indonesia, the Philippines, Thailand and Vietnam, are expected to gain moderately,” AMRO said.

The note stated that economies with large populations and high GDP such as China and Japan, are likely to receive a “significant portion of the reallocated residual profit” from Amount A.

Countries with smaller populations but have higher per-capita incomes are also expected to see moderate gains from Amount A. These countries include Brunei, Hong Kong, China, Korea, Malaysia, and Singapore.

H o w e v e r, c o u nt r i e s w it h smaller population sizes and lower-income levels in the region such as Cambodia, Lao PDR and Myanmar are not expected to receive significant additional tax revenues as a result of the global tax reform.

“A caveat here is that MNEs’ e-commerce revenue from these economies could be lifted if consumers use mobile data and social media widely for online purchases,” AMRO said.

Meanwhile, civil-society organizations Freedom from Debt Coalition and the Asian Peoples’ Movement on Debt and Development (APMDD) called the OECD proposal as nothing but a “tax deal of the rich.”

See “Tax,” A2

PESO exchange rates n US 50.9210 n japan 0.4589 n UK 69.7974 n HK 6.5419 n CHINA 7.8862 n singapore 37.6273 n australia 37.0959 n EU 59.5776 n SAUDI arabia 13.5757 Source: BSP (28 September 2021)

A2

Wednesday, September 29, 2021

BusinessMirror

Commitment fees on ODA-funded projects up 45% on delays–Neda

By Cai U. Ordinario

C

@caiordinario

OMMITMENT fees paid by the government for Official Development Assistance (ODA) loans increased 45.49 percent last year, according to the National Economic and Development Authority (Neda).

In its ODA Portfolio Review 2020, Neda said the country’s commitment fees reached $6.78 million due to the cost of financing and implementation delays.

Commitment fees are a portion of the loan amount that is paid by governments for undisbursed portions of their ODA loans from various multilateral and bilateral partners. This means whether or not projects are delayed, governments must pay the fees.

“The rate is applied on the undisbursed amount of the entire loan or a portion thereof [base], which approxi-

Bid. . .

Continued from A1

DOE of f ic ia ls at t he hea r ing sa id C he v ron M a l a mp ay a L L C , w h ic h u sed to ow n 45 percent of t he ga s projec t before it sold t h i s to UC38 LLC, initially said it was not necessar y to rev iew the transfer of the shares of its parent company Chevron Philippines Ltd. to UC Malampaya Philippines Pte. Ltd.

mates or may be bigger than the amount scheduled to be disbursed due to availment backlogs,” the report stated.

“Thus, even when there is no implementation delay, a certain amount of CF would still be charged as a purely cost of financing. Implementation delay only increases the amount,” it added.

Based on the report, six infrastructure projects logged the largest commitment fees worth $3.13 million, due to implementation delays.

These included four projects funded by the Asian Development Bank (ADB) and one funded by the Japan International Cooperation Agency (Jica) and Asian Infrastructure Investment Bank (AIIB).

The ADB-funded Malolos-Clark Railway Project posted the largest commitment fee of $1.93 million in 2020. The project is being implemented by the Department of Transportation. It is also one of five projects that incurred

the highest commitment fees from loan effectivity as of 2020. The government has paid a total of $2.07 million in commitment fees since the loan’s effectivity in September 2019.

Other ADB-funded projects on the list of projects with the highest commitment fees due to delays are: the Improving Growth Corridors in Mindanao Road Sector Project with $0.32 million; Infrastructure Preparation and Innovation Facility-Additional Financing, $0.21 million; and Infrastructure Preparation and Innovation Facility, $0.11 million.

The project financed by Jica was the Capacity Enhancement of Mass Transit Systems in Metro Manila with a commitment fee of $0.3 million; the AIIB project was the Metro Manila Flood Management Project, $0.26 million.

“The top 6 projects with the highest incurred CFs [Commitment Fees] in 2020 attributed to implementation delays also

Dela Fuente said that when Chevron Malampaya requested for a change of name, the DOE insisted on a review of its deal with UC Malampaya. “When I referred this to my bosses, the imprimatur of Secretary [Alfonso] Cusi is that in case of doubt, to apply the department circular as the benchmark to ensure that the parties are legally, technically and financially qualified,” Dela Fuente added.

He was referring to DOE Department Circular 2007-04-003, which mandates that “the rights and obligations under a

petroleum service contracted executed under PD 87, as amended, shall not be assigned or transferred without the prior approval of the DOE.” Dela Fuente said the DOE insisted on the review despite the diverging opinion within the department on the applicability of the department circular to the Chevron deal with UC Malampaya.

De l a Fuente sa id he st a nd s by t he recommend ations on t he f inanc i a l sou nd ness a nd lega l it y of t he C he v ron- Uden n a dea l.

accounted for 85 percent of CFs paid due to implementation delays in 2020,” the report stated.

As of the end of 2020, the commitment fees paid by the top 5 projects incurred the highest costs since their loan effectivity reached $14.99 million.

Cumulative commitment fees paid by the government for all active loans from the loan effectivity of projects reached $28.8 million by the end of 2020.

The French-funded Philippine Ports and Coast Guard Capability Development Project, implemented by DOTr, had the highest commitment fee at $5.39 million.

Jica-funded projects Capacity Enhancement of Mass Transit Systems in Metro Manila and Road Upgrading and Preservation Project logged commitment fees worth $2.62 million and $2.46 million, respectively.

A projected funded by the World Bank and AIIB, the Metro Manila Flood Management Project, also incurred commitment fees worth $2.45 million.

BPO. . .

Continued from A1

is the Philippines tends to grow faster than the global market,” Hernandez said.

The CCAP said that the local industry’s growth is attributed to its “ability to expand market share.”

In fact, he said that the Philippine contact centers have experienced “uninterrupted year-on-year growth” in the past two decades.

Hernandez is seeing pent-up demand to drive the revenues of the sector, especially from countries with fiscal stimulus that allows them to invest in contact services.

“As we’ve seen in historical headwinds or economic crisis, companies are looking for more cost-effective way to operate,” he added.

Still, Hernandez cited concerns for the sector, including the flexible working arrangement.

“We need a long-term solution to this hybrid arrangement. We have an extension, but we need to work on a real lasting solution,” he said.

Recently, the Fiscal Incentives Review Board approved the extension until March 31, 2022 of work-from-home (WFH) arrangements for up to 90 percent of the employees in the IT-business process management (IT-BPM) sector.

In addition, he said there is a “lot more catchup to be done” in terms of Internet infrastructure in the country amid the “rapid shift of data traffic to residential.”

“Everybody had to be creative with infrastructure, including putting up pop-up sites or satellite offices which is an interesting model; and some of us are getting into that,” Hernandez explained. “We need...infrastructure in the Philippines...that enable our people to be productive.”

Global setting

Everest Group Vice President Shirley Hung, in the same event, said the global contact center market is projected to reach $100-billion revenues by 2022.

This, after booking around $90 billion last year—an unexpected turnout as the latter half of 2020 more than made up for the losses amid the pandemic.

“This growth is being driven by increasing implementation by digital solutions, shift toward data-driven customer experience that focuses on personalization and customization, and increased interest from first-time outsources looking for support to transform their contact services for their customers,” she said.

Hung commended the resilience of the customer experience management (CXM) service provider as they leveraged digital solutions and remote working models to mitigate disruptions amid the pandemic.

“They did this without any major security incidence or compliance breaches,” she noted.

Focusing on digital CXM—including conversation AI (artificial intelligence) and messaging platforms, cloud contact centers, analytics and automation solutions—allowed the companies to reduce the volume of contacts that needed to be handled live, she said.

Meanwhile, Hung said that implementing hybrid work setup may still be done beyond the pandemic given its “positive impact” on employees.

www.businessmirror.com.ph

Growth. . .

Continued from A1

The World Bank’s East Asia and the Pacific Update saw its GDP growth estimates for the Philippines decline 1.2 percentage points to 4.3 percent in 2021 from the 5.5-percent forecast made in April.

The World Bank also cut its projection for 2022 GDP growth to 5.8 percent in September from the 6.3-percent forecast made in April. Growth is still projected to reach 5.5 percent in 2023. “[The Philippines] is a country that suffered enormously because of Covid. It has some of the largest declines in growth forecasts that we have predicted and we do see the challenge. This is a country that supplies the world with medical staff and nurses and it is a particular tragedy that domestically it has not really succeeded,” World Bank East Asia and Pacific Chief Economist Aaditya Mattoo said in a briefing on Tuesday.

“But it’s not just a difficulty of policy. The Philippines remains highly vulnerable to natural disasters and those are not easy to deal with,” he added.

The World Bank estimates that the Philippines and Indonesia will only be able to achieve more than 60-percent vaccine coverage by June 2022.

This amid the challenges posed by “limited global production capacity and the decision to provide booster vaccines in industrial countries.”

This year, China, Mongolia, Fiji, Cambodia, Malaysia, Tuvalu and Thailand will be able to reach vaccine coverage of over 60 percent while Samoa, Tonga, Lao PDR, Timor-Leste, Vietnam, and Kiribati will get there by the first quarter of 2022.

Countries such as Vanuatu, Solomon Islands, Myanmar and Papua New Guinea are expected to reach 60-percent coverage by the third quarter of next year or beyond.

“The Philippines again had a problem of vaccine hesitancy.

It had not acquired enough vaccines, it was late into the vaccine market. But the good news, as I said, we project that even the Philippines by the middle of next year will have high levels of [vaccine] coverage,” Mattoo said.

“What does it take to save lives? It’s to learn to live with the disease. [There is a need to] strengthen the health system, learn to provide the care that is needed, when it is needed,” he added.

Poverty, inequality

For the first time, Mattoo said the EAP region is expected to have both slow growth and widening inequality. This is a “reversal of fortune” for the region as many of the countries suffer as much as 2-percentage-point reduction in growth prospects.

The report said this slow growth and greater inequality will lead to more people being unable to leave poverty such as in the Philippines, Indonesia, and Myanmar. The World Bank said 90 percent of those who will remain poor in Asia would come from these countries.

In the Philippines, the World Bank said poverty would decline 2.1 percentage-points more slowly, and the economically secure class would grow by only 2.9 percentage points compared to 4.8 percentage points.

This represents 2.4 million fewer people escaping poverty and 2.1 million fewer people rising into economic security in the Philippines by 2023.

Inequality in the country is also expected to worsen. The World Bank said this may have already begun as governments, including that of the Philippines, extended uneven assistance among firms.

The World Bank said that half of micro, small, and medium-sized enterprises (MSMEs) in the region have not received any form of support from governments as of the last quarter of 2020, and less than 20 percent of very large firms missed out on support.

Inequality today will, the World Bank said, “hurt growth tomorrow.” In the Philippines, inequality could lead to child malnutrition, compounding the already high level of stunting in the country.

The World Bank noted that stunting the Philippines is associated with a lower likelihood of formal employment. It found that “a 1-centimeter increase in stature is associated with a 4-percent increase in wages for men and a 6-percent increase in wages for women.”

Philippine Institute for Development Studies (PIDS) Senior Research Fellow Valerie Gilbert T. Ulep said the common belief that Filipinos are “short” may not only be due to genetics, but could have been caused by malnutrition.

“For many years, we tried to normalize stunting—that it is part of [what] we are, it’s part of our genetics, etc. But I think we need to reflect on that because it might be something else. It might be a reflection of chronic malnutrition more than a reflection of who we are as Filipinos, Ulep earlier said in this story: https://businessmirror.com.ph/2021/09/25/coming-up-short-on-sdg/.

His conjecture was supported by one of the project evaluation studies of the National Economic and Development Authority (Neda).

In the Formative Evaluation of the Philippine Plan of Action for Nutrition (PPAN) 2017-2022, Neda found that only a few Filipinos related stunting to nutrition.

“Widespread misconception on stunting among the respondents was observed as the majority mistakenly believed that stunting is hereditary and Filipinos are short by nature,” the report stated.

Tax. . .

Continued from A1

FDC and APMDD asked the Philippine government to take a stand against tax abuses and block the tax deal. They said this because, only rich countries, multinational corporations and the global elite will benefit.

“In 2020, illicit financial outflows from corporate tax evasion and avoidance by multinational corporations [MNCs] in the Philippines was estimated at P94.3 billion, nearly equivalent to the budget allocated by the Bayanihan to Heal as One Act for social amelioration and wage subsidies,” the organizations said.

“While MNCs continue to engage in these abusive tax practices, the burden of revenue generation is passed on to the poor through regressive taxes such as the Value-Added Tax [VAT] and excise taxes on necessary goods,” they added.

The letter was delivered at the DOF by a small delegation at the same time as a rally was being held at the Welcome Rotonda

by APMDD, FDC, Oriang and Sanlakas.

The delegation coming from the DOF office and another delegation that delivered a similar open letter to the Embassy of Indonesia only arrived at Welcome Rotonda to see the tail-end of the mass action which police forcibly though peacefully dispersed.

The rally dubbed Day of Action for Tax Justice was held as representatives of 193 member-states met at the 76th session of the United Nations to deliberate on “Covid-19 recovery” and how to rebuild sustainably. Cai U. Ordinario

The Nation

A4 Wednesday, September 29, 2021 • Editor: Vittorio V. Vitug

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Govt sets ‘massive’ inoculation drive on general population

By Samuel P. Medenilla @sam_medenilla

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HE government will finally start vaccinating the general population, including the youth, against the novel coronavirus disease (Covid-19) starting next month.

This after President Duterte

approved last Monday the proposal of the National Taskforce Against Covid-19 (NTF) to start the vaccination of the said sector as the government secures 100 million Covid-19 vaccine doses

by October.

In an online news briefing on Tuesday, Presidential spokesman Harry Roque said concerned govern-

ment offices would be issuing the guidelines for the implementation of the new policy.

He also assured that those from priority sectors such as healthcare workers, senior citizens, and those with comorbidities will still be prioritized in the government’s vaccination drive even after its coverage is expanded to include

the general population.

In preparation for the expanded inoculation drive, Roque urged parents to register their children so they could get their Covid-19 jabs.

NTF chief implementer Carlito Galvez Jr. earlier said they are targeting to vaccinate 12 million children, aged 12 to 17 years old, and prioritize the children of health-care workers

and those with comorbidities.

Currently, the Food and Drug Administration (FDA) only approved the Covid-19 vaccines from Pfizer-BioNTech and Moderna to be used for minors.

Duterte announced the new policy as the government was only able to fully vaccinate 20.5 million of its target 50 million to 70 million people

Namfrel bares activities for natl, local polls in 2022

By Roderick L. Abad

Contributor

T

@rodrik_28

HE National Citizens’ Movement for Free Elections (Namfrel) presented on Tuesday its planned activities for the 2022 national and local elections, including the recruitment of more or less 100,000 to 105,000 volunteers, that will require over P50 million based on the more than 98,000 voting precincts it aims to cover nationwide.

According to the poll watchdog, it will file this week with the Commission on Elections (Comelec) its Petition for Accreditation as Comelec Citizens’ Arm for the coming elections.

Namfrel National Council member Fernando Contreras Jr. told reporters that they hope this will be green lighted by the Comelec for them to realize their activities pipelined for next year’s elections.

These include the Automated

Elections System (AES) Monitoring which, per the group, is already engaged in third party oversight by observing the Comelec’s procurement of AES goods and services, by participating as member of the Comelec Advisory Council, and attending meetings of the Comelec AES Steering Committee.

In the coming months, Namfrel seeks to observe the local source code review, ballot printing, mock elections, delivery of election materials, and other processes related to AES. On election day, Namfrel Bantay ng Bayan observers will monitor the conduct of the elections in various voting centers nationwide, focusing on the performance of the vote counting machines, transmission of election results, and other election day activities within and around the voting centers, among others.

An Open Election Data (OED) web site that will contain poll-related information will be available to the public. Namfrel said it will tie up with the Comelec for this additional platform that is secure and accessible.

With the data coming from the Comelec and other government institutions, it sees the following as benefits of the OED portal: General

information for voters and other election stakeholders; voter assistance; precinct-level results validation; AES performance analysis; data research; coordination between the public and other election stakeholders, and others.

The elections overseer will monitor again the Random Manual Audit (RMA), or the manual comparison of votes from the machines and those manually counted inside the polling places included in the audit.

Namfrel said it already joins in the regular meetings of the Comelec RMA Committee. Current discussions revolve around ensuring that the process will be safe without sacrificing accuracy and transparency. Also being discussed are some possible improvements to the audit process.

The group shared that it proposed last month to the Comelec putting QR codes not only on the machinegenerated elections returns (ER) but also on the voter verifiable paper audit trail (VVPAT), or the paper receipt that comes out of the vote counting machine when voters cast their votes, to make the RMA more efficient.

Once this proposal is approved, Namfrel said that it will conduct a

parallel vote tabulation (PVT) for the coming elections. It envisions that for 2022 in which other election stakeholders and the general public—and not just the Namfrel observers—can participate in the count by allowing them to use a smartphone app to be created by the group to scan the QR codes on the ERs, which will then go to its servers for consolidation.

The poll observer assures that it will have a system in place to ensure that crowdsourced data are verified before they are included in the partial unofficial count. It added that it is willing to assist any other organizations who would like to conduct their own count using Namfrel’s app.

“These are the ways to be done by Namfrel to verify that the result it will receive from the public is correct before it will be included in the unofficial partial results of the tabulation.

We hope that the Comelec will give in to our request to help us realize all these activities,” Contreras said in mixed of Filipino and English.

Recruitment for Namfrel’s unpaid observers will begin soon, as it aims to deploy observers throughout the country to monitor the conduct of the 2022 polls.

HOUSE PANEL ASKS GORDON TO ALLOW PHARMALLY EXEC TO ATTEND HEARING

By Jovee Marie N. dela Cruz

T

@joveemarie

HE House Committee on Good Government and Public Accountability on Tuesday asked the Senate to allow Pharmally Pharmaceutical Corp. Director Linconn Ong to attend the hearing of the panel next week on the alleged overpricing of medical supplies.

In a letter to Senate Blue Ribbon Committee Chairman Sen. Richard J. Gordon, House Committee on Good Government and Public Accountability Chairman Michael Aglipay said the lower chamber has invited resource persons from different government agencies and stakeholder to assist lawmakers in proceeding with their inquiry.

“However, Mr. Ong was cited in contempt by your Honor’s Committee and placed under the custody of the Senate of the Philippines.

In this regard, may we respectfully request your Honor’s and that of your Committee the permission to allow Mr. Ong to participate via Zoom Videoconferencing to the hearing of the Committee on Good Government and Public Accountability on October 4, 2021 at 11:00 a.m.,” said Aglipay.

The House is presently conducting its hearing on the motu prorio inquiry regarding the 2020 Commission on Audit report on the Department of Health (DOH) on the utilization of funds transferred to the Procurement Services-Department of Budget and Management (PS-DBM) for the procurement of medical supplies and equipment for Covid-19 response.

Meanwhile, the lower chamber also on Tuesday issued a subpoena ad testificandum for Pharmally official Krizle Grace Mago, who revealed that the expiry dates of the face shields were tampered by changing the expiry date from 2020 to 2021.

“You are hereby directed to appear before the Committee on Good Government and Public Accountability of the House of Representatives, to testify under oath relative to the subject matter under inquiry by the Committee on 04 October 2021 [Monday], 11:00 a.m. via Zoom,” said the subpoena.

before the end of the year.

Galvez said aside from vaccine hesitation from some people, the inoculation drive is also hampered by the shortage of vaccine supplies in previous months.

He said this would no longer be an issue by October when the country’s vaccine supplies are expected to reach 100-million mark.

LP reveals initial list of senatorial bets in elections

By Butch Fernandez @butchfBM

T

HE opposition Liberal Party (LP), boosting Vice President Leni Robredo’s effort to unify the anti-administration ranks, bared an initial list of senatorial candidates it will field in the upcoming national elections.

During its National Executive Council meeting on Tuesday, LP leaders affirmed the nomination of former Senator Bam Aquino IV and reelectionist Senators Francis Pangilinan and detained Leila de Lima as among the LP’s initial senatorial slate, even as Aquino has yet to formally announce plans to join the senatorial derby.

At the same time, LP stalwarts likewise passed a resolution endorsing Akbayan reelectionist Sen. Risa Hontiveros and Atty. Chel Diokno as part of its initial list of guest senatorial candidates.

Hontiveros and Diokno were cited as “candidates from outside [LP’s] ranks, who are aligned with its principles and values and as such are reliable partners in advancing its program of government.”

Moreover, LP stalwarts, likewise, voiced support for Robredo’s ongoing efforts to “create the broadest possible coalition to present an alternative brand of governance to the people,” while a third resolution was passed granting Robredo “full authority and discretion” in initiating talks and coming up with agreements, as well as identifying and assembling a united national slate of candidates for President, Vice President and Senators, “while respecting her preference on the elective position she may decide to run for, if any, with the full support by the Party as a whole.”

LP stalwarts recalled that since June, Vice President Robredo repeatedly emphasized the need to consolidate all opposition forces and present a united front.

In a message to supporters last week Robredo affirmed she was bound to do so, saying: “Tungkulin ko na sagarin ang lahat ng pwedeng sagarin…kausapin ang lahat ng dapat kausapin, magnilay at magdasal nang husto, at i-exhaust ang lahat ng possible avenues to present the best chances for better governance come 2022.”

At the same time, the LP likewise passed a resolution honoring the life and legacy of the late President Benigno Simeon “Noynoy” Aquino III, remembering him as “a stalwart of liberal democracy and a staunch believer in peoplecentric, people-led governance… he valued freedom above all else, and sought first the Filipino people’s freedom from hunger, from poverty, from ignorance, and from insecurity, instituting massive interventions towards empowerment so that the Filipino may exercise the rest of their freedoms in a manner that is both enlightened and responsible.”

LP stalwarts also resolved to “stand as vanguard to his legacy, which no amount of disinformation, trolling, and historical distortionism should be able to diminish.” Though he spent his postMalacañang days largely out of the public eye, ex-President Aquino remained close at work with party leadership as LP’s Chairman Emeritus since 2016.

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Green program gets biggest share of DENR ’22 budget

T

HE Enhanced National Greening Program or ENGP will get the largest share of the P9.7-billion budget for the priority programs of the Department of Environment and Natural Resources (DENR) as approved by the House of Representatives for the agency’ operations next year.

The ENGP will receive a total of P3.68 billion, while the Enhanced Biodiversity Conservation will receive P1.01 billion. The Manila Bay Rehabilitation will get P1.67 billion.

Other priority programs of the DENR and their respective budget allocation next year are Solid Waste Management Program, P1.07 billion; Intensified Forest Protection and Anti-Illegal logging P696.41 million; Improved Land Administration and Management, P415.34 million, and GeoHazard, Groundwater Assessment and Responsible Mining with P407.65-million budget.

Also, the Scaling Up of Coastal and Marine Ecosystems Management Programs will get P271.8 million, while Clean Water and Clean Air will be given P315.49 million and P143 million, respectively.

Environment Secretary Roy A. Cimatu welcomed the approval of his agency’s P25.29-billion proposed budget for 2022 by the House of Representatives after two and a half hours of plenary deliberation on Wednesday, September 22.

“I am very much grateful for all the support extended to us by our lawmakers for the approval of our budget. I am optimistic that the DENR would get the same extent of support from the senators just like their counterparts in the House when they meet at the bicameral conference committee,” Cimatu said.

The agency’s proposed budget for 2022 will help sustain the country’s gains and achieve green growth recovery even in the coming years.

The DENR’s 2022 budget, which is 7 percent higher than the agency’s 2021 approved budget of P23.59 billion, is sponsored by Aklan Rep. Teodorico Haresco.

Cimatu noted that the DENR has been receiving an average amount of

P21.11 billion or 0.79 percent of the national budget for the past 10 years.

“It’s way far from what the agency needs to fully realize its mandate, but we will soldier on to give vital support to the government’s sustainable development programs,” Cimatu pointed out.

Nevertheless, the DENR chief said the proposed budget will help the department fulfill its water resilience and water security programs to adapt to climate change and recover from the setback caused by the coronavirus pandemic.

“We shall be focusing on the strategic thrust of water resilience and water security to heighten integrated watershed management, promote sustainable livelihood for the upland communities, address pollution, protect wildlife and biodiversity,” he stressed.

Under the budget, priority support will also be given to 24 climatevulnerable provinces under the Risk Resiliency Program according to the Climate Change Adaptation, Mitigation, and Disaster Risk Reduction (CCAM-DRR) Roadmap.

These are Masbate, Sorsogon, Negros Oriental, Northern Samar, Eastern Samar, Western Samar, Sarangani, Surigao del Sur, Surigao del Norte, Dinagat Islands, Southern Leyte, Zamboanga del Norte , Bukidnon, North Cotabato, Sultan Kudarat, Maguindanao, Sulu, Lanao del Sur, Apayao, Kalinga, Mountain Province, Ifugao, Catanduanes and Siquijor.

These provinces have been identified based on high poverty incidence, high risks to climate hazards, situated in critical watersheds, and with existing convergence sites.

Metro Manila, Metro Cebu, Metro Iloilo, and Metro Davao are also part of the “priority geographic focus” to address the carrying capacities of these major urban hubs.

By expense class, 38.43 percent or P9.72 billion of the 2022 proposed budget will be allocated for personnel services, P9.91 billion (39.21 percent) for maintenance and other operating expenses, and P5.65 billion (22.36 percent) for capital outlay.

Jonathan L. Mayuga

CSC cites hurdles in ‘mandatory’ inoculation of government workers

By Samuel P. Medenilla @sam_medenilla

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OSSIBLE manpower shortage and some legal issues may hamper the implementation of President Duterte’s proposal to make novel coronavirus disease (Covid-19) vaccination mandatory for government workers, according to the Civil Service Commission (CSC).

The President made the pronouncement as almost 91,000 government workers tested positive for Covid-19 from March 2020 to April 2021 based on CSC data. Of these, 1,283 have died after being infected with the disease.

Policy feasibility

CSC Commissioner Aileen Lizada said her office is now studying the feasibility of the proposal, which was announced by Duterte during his public address last Monday.

“This needs to be deliberated by the Commission. We will be having a Commission meeting this Friday,” Lizada said in a radio interview on Tuesday.

She said they will be gathering the data on how many of the estimated 1.7 million government employees are already fully vaccinated and how many are still not inoculated.

“I think it is high time now to gather the data needed on how many in the government are vaccinated so we could think of ways and the solutions on how to move forward taking into consideration the welfare of the government employees and not sacrificing public service,” Lizada said.

The CSC official said this would be crucial so they could determine if

there is still a need to make vaccination mandatory.

During their meeting, she said, they will also consider what will be the protocols in case a worker still refuses to be vaccinated.

Duterte said he would ask government workers, who refuse to be vaccinated, to leave public service.

Lizada said the policy could disrupt government operations if a considerable number of its workers refused to get Covid-19 jab.

Legal basis

ANOTHER issue, which could hamper the policy, Lizada said, is the legal issues surrounding the mandatory vaccination.

The CSC top official said she maintains a similar position of the Department of Labor and Employment (DOLE) when it banned mandatory vaccination for private sector employees.

DOLE said there is currently still no law, which could serve as basis for the said policy.

“Personally, I support the same [position], that there should be a law...but since we [CSC] are a collegial body, we need to consult,” Lizada told the BusinessMirror in a Viber message.

In an online press briefing last Tuesday, Presidential spokesman Harry Roque said Duterte is willing to back the pending legislation, which would make Covid-19 vaccination an employment requirement.

“That’s the jurisdiction of Congress, but the President can always certify an administration bill for such a law,” Roque said.

Editor: Vittorio V. Vitug • Wednesday, September 29, 2021 A5

CDC PH hits ‘discrimination’ in vaccine bubble proposal

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By Tyrone Jasper C. Piad

@TyronePiad

HE Concerned Citizens and Doctors of the Philippines (CDC PH) has raised its opposition against the implementation of “bakuna bubble,” branding the scheme as “discriminatory” against the unvaccinated population in the country, which is yet to achieve herd immunity.

CDC PH President Homer Lim, in an interview with the BusinessMirror, said that creating bakuna bubble restricts the mobility of unvaccinated individuals.

“Simply put, prohibiting the unvaccinated from going to certain areas and venues is a way of excluding the unvaccinated from a large part of the society, something that government is not allowed to do,” he said.

Under Alert 4 in the National Capital Region, the indoor capacity for restaurants and personal care service providers is capped at 10 percent for vaccinated population only.

The threat of segregation, Lim said, is “a form of vaccine coercion

Pilmico extends ₧1.3-million aid to Capiz ARBOs

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EN agrarian reform beneficiary organizations (ARBOs) in the Province of Capiz will be getting the much-needed boost from Pilmico Foods Corporation, the Department of Agrarian Reform (DAR) said.

The P1.3-million livelihood kits from Pilmico will help boost the livelihood and improve the income of members of the 10 ARBOs, said DAR Western Visayas Regional Director Shiela Francisco during the signing of the memorandum of agreement facilitated by DAR recently.

ARBO beneficiaries Traciano Farmers Multi-Purpose Cooperative (MPC), Esperanza Maclos MPC, Progressive Women ARC, Agdahon Farmers MPC, Pasol-o MPC, Agsirab MPC, ARC of New Guia, Barangay Tapulang MPC, Yating Farmers Association, and Calitan MPC would receive their livelihood kits from the Aboitiz Foundation.

Pilmico Foods Corp. is an integrated agribusiness and food company of Aboitiz Equity Ventures Inc. “The support would enrich and maximize the profitability of their livelihood that would help them sustain the operation of the cooperative,” Francisco said.

DAR-Capiz provincial agrarian reform program officer II (PARPO II) Anthony Arostique said at least P1.3 million worth of support provision will be given to the recipient ARBOs in three (3) different projects such as Project Bacon or Gild Livelihood Kit, Project Farina or Bakery Livelihood Kit, and Project Omelette or Egg Machine Livelihood Kit. Each project provision will cost ranging from P140,200 to P520,000 for each ARBO beneficiary depending on the capacity of the cooperative. ‘“The support services which will be given to your cooperative will mitigate the difficulties severely caused by the pandemic.

I am hoping that you will enrich the project to be able to help the organization and its members as well as the farmer-beneficiaries,” Arostique told the beneficiaries.

ARBO recipients pledged their commitment to double their efforts to be more productive and ensure that the projects provided by DAR would be successful. Jonathan L. Mayuga

that forces Filipinos to do what those in authority want them to do.”

“There are Filipinos who are willing to be voluntarily vaccinated, and there are other Filipinos who are concerned that current Covid-19 vaccines were approved only under an emergency use authorization without long-term clinical trials on side effects and adverse reactions,” he said, noting that both groups should be equally protected under the Philippine Constitution.

He stressed the importance of giving the public “freedom of choice and informed decision-making” when it comes to vaccination.

What needed to be pushed instead

is the strengthening of one’s natural immunity, the CDC official said. He cited the use of vitamins, regular exercise and proper diet.

“In containing a pandemic, epidemiologists all over the world prescribe a four-pillar approach composed of: contagion control, home treatment for early-stage infections, hospitalization for latestage infections, and vaccinations leading towards herd immunity,” he further explained.

In addition, Lim said that allowing further mobility only for the vaccinated population does not necessarily curb the spread of the Covid-19, especially amid the existence of the more transmissible Delta variant.

Lim, citing a study by Oxford researchers, said that fully vaccinated adults suffering “breakthrough infections” from the Delta variant could carry virus levels as high as unvaccinated individuals.

“While our appeals have so far fallen on deaf ears, CDC PH will continue to advocate for the implementation of scientific, evidenced based measures in the fight against Covid-19,” he added.

‘Protection, not discrimination’

PRESIDENTIAL Adviser for Entrepreneurship Jose Maria A. Concepcion disputed this claim, saying that

vaccine bubbles are intended to protect the unvaccinated.

“I don’t believe there is any discrimination here when it comes to protecting the unvaccinated. What we are trying to do is to protect those that are most vulnerable in this disease,” he said during a briefing on Tuesday.

As part of the bakuna bubble, Concepcion also suggested earlier to field buses exclusively for the vaccinated passengers to allow further mobility amid the pandemic.

The Go Negosyo founder also said that establishing bakuna bubble seeks to promote higher vaccine acceptance, which is key to recovering from the pandemic.

Trade Secretary Ramon M. Lopez told the BusinessMirror that they have been “encouraging and motivating people” to get Covid-19 shots.

But “until supply exceeds demand and vaccination rate is high, only by then can we possibly change the protocol on this,” he said. “For now, it can be discriminatory and unduly limit the customers in areas where they are already allowed.”

He stressed, however, that limitations for the unvaccinated population are only in place for certain indoor activities under Alert 4. All are given mobility regardless of the vaccination status during Alert Levels 1-3, he added.

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TheWorld Wednesday, September 29, 2021

Editor: Angel R. Calso

World Bank cuts Asia growth outlook, calls for virus action

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EIJING—The World Bank on Tuesday cut its economic growth forecast for developing countries in East Asia due to the impact of the coronavirus Delta variant and called on governments to help the poor and small businesses avoid long-term damage.

Excluding China’s unexpectedly strong growth, developing countries in East Asia should grow by 2.5 percent this year, down from a forecast of 4.4 percent in April, the Washingtonbased lender said in a report. It said China, the region’s biggest economy, should expand by 8.5 percent.

The region is “suffering a

reversal of fortune” after China, Vietnam and other governments contained coronavirus outbreaks last year, the bank said. It said business activity in Vietnam, Thailand, the Philippines and other economies was improving but now is “showing signs of slowing down.”

“The region is being hit hard by the Covid-19 Delta variant

while many advanced economies are on a path to economic recovery,” the World Bank said.

“Covid-19 will reduce growth and increase inequality unless the scars are addressed and the opportunities grasped.”

The region must increase vaccine production due to the unreliability of imports and high demand, the bank said. It said governments also need to use testing, tracing and isolation to contain infections and strengthen their health systems.

To prevent long-term economic damage, the bank said governments need to support productive companies and encourage new competitors, promote technology development and reduce trade barriers.

Countries also need to improve “social protection” by expanding access to “need-based assistance” for the poor, the bank said. AP

Powell says spike in inflation lasting longer than expected

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ASHINGTON—Federal Reserve Chairman Jerome Powell is preparing to tell Congress that the current spike in US inflation has proven to be larger and more long lasting than expected.

But, in remarks prepared for delivery Tuesday, he says that if inflation does not abate, the Fed is ready to use its tools to lower the pressure on prices.

Powell is due to appear Tuesday with Treasury Secretary Janet Yellen at an oversight hearing on the government’s massive support programs passed to deal with the Covid-19 pandemic.

The Fed made Powell’s remarks public late Monday.

“As the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices, particularly due to supply bottlenecks in some sectors,” Powell says in his prepared remarks. “These effects have been larger and longer lasting than anticipated, but they will abate, and as

they do, inflation is expected to drop back toward our longerrun goal 2 percent goal.”

Powell is expected to face tough questions about inf lation, especially from Republican lawmakers, who are warning that the countr y could be seeing the ty pe of runaway inf lation not seen since the 1970s.

Consumer prices in recent mont hs have been post ing 12-month gains as high as 5.4 percent, a rate not seen since 2008.

Powell said that the unprecedented process of reopening the economy after the Covid shutdowns has resulted in a number of problems that could continue in coming months.

“As reopening continues, bottlenecks, hiring difficult ies a nd ot her const ra i nts could again prove to be greater and more enduring than anticipated, posing upside risks to inf lation,” Powell said.

But he said, “If sustained

higher inflation were to become a serious concern, we would certainly respond and use our tools to ensure that inflation runs at levels that are consistent with our goals.”

The Fed uses its powers over interest rates, cutting rates when the economy is weakening and raising them when growth is too strong and triggering unwanted inflation.

At its meeting last week, the Fed left its benchmark policy rate at an historic low of zero to 0.25 percent. But the central bank did indicate it is getting closer to starting to withdraw some of the support it has been providing in the form of purchasing $120 billion a month in bonds to keep downward pressure on long-term rates.

Many economists expect the Fed will announce at its next meeting in November a plan to trim, or taper, those purchases with a goal of eliminating them entirely by the middle of next year. AP

Greece and France to announce multibillion-euro warship deal

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THENS, Greece—T he leaders of Greece and France are expected to announce a major, multibillioneuro deal in Paris on Tuesday involving the acquisition by Greece of at least six Frenchbuilt warships, Greek state ERT TV reported.

ERT said Monday that Greece was planning to acquire three French FDI frigates— with the option of later buying a fourth— and another three corvettes.

Greece has already bought 18 French Rafale fighter jets and plans to purchase another six under a program to modernize its armed forces amid tensions with neighboring Turkey.

Prime Minister Kyriakos Mitsotakis, who flew to Paris on

Monday for talks with French President Emmanuel Macron, said in an interview with ERT that “we are heading towards a substantive deepening of the strategic cooperation between Greece and France.”

He declined to comment on the reported warship deal— which Greek media say would be worth about 5 billion euros ($5.8 bi l lion)— on ly say ing that announcements would be made Tuesday.

“I have no intention to enter an arms race with Turkey,” Mitsotakis added. “But there are key issues of modernizing our military after a decade of [economic] crisis.”

Tensions with historic reg i o n a l r i v a l Tu r k e y h a v e

inc rea sed in recent yea rs o v e r gas exploration rights in the eastern Mediterranean and waters between the two cou nt r ies. Gre e ce h ad a n nounced plans to upgrade its f leet , d i sc u ssi ng potent i a l frigate purchases with countries including France, the US and Britain.

Greek media said the deal that Mitsotakis and Macron are expected to announce at the Elysee Palace in Paris on Tuesday follows an improved French offer. They linked the offer with France’s loss of a $66 billion deal this month to sell diesel submarines to Australia, which instead chose to acquire nuclear-powered submarines provided by the US. AP

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China’s power cuts may lead to shortages of global goods

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EIJING— Global shoppers face possible shortages of smartphones and other goods ahead of Christmas after power cuts to meet official energy use targets forced Chinese factories to shut down and left some households in the dark.

In the northeastern city of Liaoyang, 23 people were hospitalized with gas poisoning after ventilation in a metal casting factory was shut off following a power outage, according to state broadcaster CCT V. No deaths were reported.

Factories were idled to avoid exceeding limits on energy use imposed by Beijing to promote efficiency. Economists and an environmental group say manufacturers used up this year’s quota faster than planned as export demand rebounded from the coronavirus pandemic.

A components supplier for Apple Inc.’s iPhones said it suspended production at a factory west of Shanghai under orders from local authorities.

The disruption to China’s vast manufacturing industries during one of their busiest seasons reflects the ruling Communist Party’s struggle to balance economic growth with efforts to rein in pollution and emissions of climatechanging gases.

“Beijing’s unprecedented resolve in enforcing energy consumption limits could result in long-term benefits, but the shortterm economic costs are substantial,” Nomura economists Ting Lu, Lisheng Wang and Jing Wang said in a report Monday.

They said the impact might be so severe that they cut their economic growth forecast for China to 4.7 percent from 5.1 percent over a year earlier in the current quarter. They cut their outlook for

annual growth to 7.7 percent from 8.2 percent.

Global financial markets already were on edge about the possible collapse of one of China’s biggest real estate developers, Evergrande Group, which is struggling to avoid a default on billions of dollars of debt.

Manufacturers already face shortages of processor chips, disruptions in shipping and other lingering effects of the global shutdown of travel and trade to fight the coronavirus pandemic.

Residents of China’s northeast, where autumn temperatures are falling, report power cuts and appealed on social media for the government to restore supplies.

The crunch comes as global leaders prepare to attend a UN environmental conference by video link on October 12 to 13 in the southwestern city of Kunming.

That increases pressure on President Xi Jinping’s government, as the meeting’s host, to show it is sticking to emissions and energy efficiency targets.

China is one of the world’s biggest emitters of climate-changing industrial gases and consumes more energy per unit of economic output than developed countries.

The ruling party also is preparing for the Winter Olympics in the Chinese capital, Beijing, and the nearby city of Shijiazhuang in February, a period when it will want clear blue skies.

Scores of companies have announced power rationing could force them to delay filling orders

Steam billows out of the cooling towers at a coal-fired power station in Nanjing in east China’s Jiangsu province on September 27. Global shoppers face possible shortages of smartphones and other goods ahead of Christmas after power cuts to meet government energy use targets forced Chinese factories to shut down and left some households in the dark. Chinatopix via AP

and might hurt them financially.

Apple components supplier Eson Precision Engineering Co. Ltd. said Sunday it would halt production at its factory in Kunshan, west of Shanghai, through Thursday “in line with the local government’s power restriction policy.”

Eson sa id t he su spension shouldn’t have a “significant impact” on operations.

Apple didn’t immediately respond to a question about the possible impact on iPhone supplies.

China’s energy consumption and industrial emissions have surged as manufacturers rush to fill foreign demand at a time when competitors elsewhere still are hampered by anti-coronavirus controls.

China’s economy is “more driven by exports than any time in the past decade,” but official energy use targets fail to take that into account, economists Larry Hu and Xinyu Ji of Macquarie Group said in a report.

Some provinces used up most of their quotas for energy consumption in the first half of the year and are cutting back to stay under their limits, according to Li Shuo, a climate policy expert at Greenpeace in Beijing.

Utility companies, meanwhile, are being squeezed by soaring coal

and gas prices. That discourages them from increasing output because the government limits their ability to pass on costs to customers, said Li. Prices have risen “past the range of what China’s electricity industry can bear,” Li said.

China has launched repeated campaigns to make its energyhungry economy more efficient and clean up smog-choked cities.

City skies are visibly clearer, but the abrupt way the campaigns are carried out disrupts supplies of power, coal and gas, leaving families shivering in unheated homes and forcing factories to shut down.

Shopping malls in the northeastern city of Harbin have announced they will close stores earlier than usual to save power.

In Guangdong province in the south, the government told the public to set thermostats on air conditioners higher even as temperatures rose above 34 degrees C (93 degrees F).

State Grid Cor p., the world ’s biggest power distributor, issued a pledge to ensure adequate supplies.

Meanwhile, state media say local governments have signed long-term coal contracts to ensure adequate suppliers. AP

Japan set to lift all Covid-19 emergency steps nationwide

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OKYO—Japan is set to lift all coronavirus emergency measures when they expire later this week as the infections slow and the nation tries to reactivate its economy.

Officials in charge of coronavirus measures got endorsement from experts at a meeting Tuesday, on the condition easing of restrictions will be gradual. Prime Minister Yoshihide Suga is expected to announce a lifting of the emergency and subsequent plans later Tuesday.

With the lifting, Japan will be entirely free of any emergency requirements for the first time since April.

Government officials are preparing for the relaxed restrictions by instituting other plans such as vaccine passports and virus tests.

The emergency and other measures in all 27 prefectures expire at the end of September.

Some experts want the state of emergency in 19 areas to be eased to a quasi-emergency first to ensure infections don’t quickly rebound, and the government is reportedly considering the strategy.

The emergency has mainly been in the form of requests for restaurants and bars to open for shorter hours and not serve alcohol. Governors in Osaka, Hyogo and Kyoto have said they plan to keep those requests in place while closely monitoring the virus situations.

Japan is eager to expand social and economic activities while balancing the need to prevent the next wave of infections.

The government, which is in transition as the governing party chooses a replacement for Suga later this week, is under pressure to maintain effective virus strategies ahead of parliamentary elections in two months.

Economy and Fiscal Minister Yasutoshi Nishimura, also in charge of Covid-19 measures, said easing of the measures will be gradual as cooler weather raises concern about a resurgence.

Eateries and other commercial establishments currently required to close early should return to normal hours gradually while the authorities reinforce health care systems to prepare for the next outbreak, officials said.

“Lifting of the emergency doesn’t mean we are 100

percent free,” Dr. Shigeru Omi, top medical adviser for the government, told reporters.

“The government should send a clear message to the people that we can only relax gradually.”

He urged the authorities to quickly tighten controls when there are early signs of resurgence ahead of holiday periods.

Japan’s ongoing and fifth state of emergency declared in April was repeatedly extended and expanded, turning into the longest since the pandemic began last year. Despite public weariness and frustration over the measures, Japan has managed to avoid the more restrictive lockdowns imposed elsewhere while recording about 1.69 million cases of infection and 17,500 deaths from Covid-19.

Infections started to worsen in July and peaked in midAugust after the Olympics, surging above 5,000 cases in Tokyo alone and topping 25,000 nationwide. Thousands of patients unable to find hospital beds had to ride out the illness at home.

Olympics and government

officials deny the games directly caused the upsurge, but experts said the festive atmosphere made people more socially active and it was indirectly responsible.

Suga decided to step down from party leadership and the premiership after facing criticism over his government’s virus measures and his insistence on holding the Olympics during a pandemic despite public opposition.

Daily reported cases have fallen to around 2,000 nationwide—less than onetenth of the mid-August peak. Experts attributed the declining numbers to the progress of vaccinations—56 percent of the population is fully vaccinated—and to people increasing their social distancing efforts after being alarmed by the collapse of medical systems.

Vaccinations minister Taro Kono recently said Japan is also preparing to start administering boosters—a third shot for those who have already received two—to medial personnel by the end of this year and to elderly people early next year. AP

Wednesday, September 29, 2021

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Biden receives booster shot, presses for vaccine mandates

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NITED STATES President Joe Biden received a booster shot made by Pfizer Inc. and BioNTech SE on Monday and said he would press for more vaccination mandates to improve the inoculation rate.

Americans who have refused to be vaccinated are causing “an awful lot of damage for the rest of the country,” he said at the White House. “This is a pandemic of the unvaccinated. That’s why I’m moving forward with vaccination mandates wherever I can.”

Biden, 78, meets federal guidelines that those over age 65 get a third shot. The president received his second in January, putting him well past the six-month threshold for getting another.

In Montana, residents eligible for shots but not fully vaccinated are 4.4 times more likely to contract Covid-19 than people who are fully inoculated, state health officials said. Unvaccinated people account for 88 percent of the state’s Covid-19 admissions. Hospitalization and death rates are 5.1 and 3.3 times greater, respectively, for unvaccinated people.

Meanwhile, New York Mayor Bill de Blasio vowed to fight for a vaccine requirement for school

workers and said 90 percent of teachers and 97 percent of principals have received their first shot. The city’s school system was temporarily blocked by a judge from enforcing a mandate forcing teachers and other staff to get vaccinated by Monday. A federal appeals court is expected to hold a hearing Wednesday.

Groups representing teachers and administrators argued that a mandate would result in employee shortages that would endanger student safety and said the district had no plan to redeploy substitutes and central office employees to cover absent teachers and other workers.

Key developments:

US boosts travel warnings for HK, Singapore

The US Centers for Disease Control and Prevention raised its travel advisories for Hong Kong and Singapore by one notch each.

Hong Kong has a moderate level of Covid-19, the agency said, while Singapore’s is high.

Unvaccinated travelers should avoid nonessential travel to Singapore, where all travelers may be at risk for getting and spreading variants, the CDC said.

Rutgers mandate can be enforced, judge rules

A federal judge rejected a motion for a temporary restraining order that would have blocked Rutgers University from demanding that students be vaccinated before returning to campus. Plaintiff Children’s Health Defense isn’t likely to succeed on the merits of its case against the New Jersey school, the judge held, saying that rights to informed consent and to refuse unwanted medical treatment “are not absolute.”

“Given the severity and number of cases and deaths during the Covid-19 pandemic so far, there is a real and substantial relation between the policy and the need to protect public health,” the judge held.

United Airlines notches 98.5 percent vaccination rate

United Airlines Holdings Inc. said 98.5 percent of its US-based employees have been vaccinated and expects the figure to exceed 99 percent in its final tally of compliance with its mandate. The carrier had set a Monday deadline for all US-based workers to receive the Johnson & Johnson vaccine or an initial dose of a two-shot vaccine.

Failure to comply could result in termination.

South Africa, UK discuss red list

South Africa said government scientific experts met with U.K. counterparts to discuss the African country’s continued presence on a so-called red list of nations whose citizens are banned because of Covid-19 risks. Britain also is looking to extend recognition of certificates for vaccines administered in South Africa “as rapidly as possible,” South Africa’s Department of Health said.

Crowdsourced pill research gets $11 million

A crowdsourced effort to design a Covid-19 pill won 8 million pounds ($11 million) in funding from the Wellcome Trust. About 250 people submitted to the Covid Moonshot effort more than 4,500 potential molecular designs intended to block a key protein that helps the virus replicate.

“It is a way of working that none of us realized was possible,” said University of Oxford Professor Frank von Delft, a leader of the project. It has been “an express train on tracks we have had to lay down as we go.”

The Wellcome funding will help pay for the expensive last step of research needed to bring the project into human clinical trials but is unlikely to beat big pharmaceutical companies. Pfizer Inc. is in latestage trials on an oral antiviral.

Pfizer starts advanced trial of oral drug

Pfizer Inc. advanced testing of an experimental oral antiviral drug. The medicine, PF07321332, is intended to be given at the first sign of exposure or infection, without requiring patients to be hospitalized first.

Pfizer’s new trial is enrolling as many as 2,660 adults who live in the same household as someone with a confirmed infection.

Participants will get either a placebo or a combination of the experimental drug plus ritonavir twice daily for five or 10 days, the company said.

Monoclonal antibodies from Regeneron Pharmaceuticals Inc. and Eli Lilly & Co. are authorized in the US for preventing Covid-19 in high-risk individuals who have been exposed, but no oral drugs have been approved yet.

Slow J&J deliveries hobble South Africa

Slow delivery of Johnson & Johnson vaccinations is hampering South Africa’s inoculation drive, Business Day reported, citing Nicholas Crisp, acting directorgeneral of the country’s health department. While South Africa has ample supply of Pfizer Inc. vaccines, it needs J&J’s for people in remote areas, since those shots can be stored with normal refrigeration and only one dose is needed.

“We don’t have plenty of J&J vaccines, and that is a problem for us because there are communities that are very hard to get back to a second time,” Crisp said. No doses were delivered in May and June and only 1.5 million were in July, Crisp said. South Africa has agreed to buy 31 million.

UK doctors seek priority access to fuel

Health-care workers should get priority access to fuel as the U.K.’s shortage continues, according to a trade union representing doctors. The British Medica l A ssociation stressed the importance of fuel for both emergency and essential workers, stating that it not only affects traveling to work, but work itself. It said there’s a “real risk ” that National Health Ser v ice staff would be unable to do their jobs and provide vital services.

Indonesia takes steps to avoid new variants

Indonesia said it’s taking steps to reduce the possibility of any new variants entering the country, including restricting arrivals from places with high infections, such as Turkey and the US. Flight arrivals will be better managed to avoid crowding at airports.

The government is preparing to reopen Bali’s Nusa Dua, Sanur and Gianyar beaches during a trial phase in a decision to be made this week, Tourism Minister Sandiaga Uno said earlier.

Fully vaccinated foreign tourists who test negative for coronavirus will first be quarantined at facilities to be set up in Sanur, Ubud and Nusa Dua. The government said a new Covid variant is inev itable and it’s anticipating the next wave of outbreak in November and December.

China infections are tailing off

China reported 16 infections on Monday, as the spread of Delta variant appears to be tailing off. The cluster in southeastern province Fujian dwindled to two cases, all in Xiamen, a city of 5.2 million and a manufacturing hub for electric components that was placed under lockdown following detection of cases in early September.

The Northeastern city of Harbin reported 13 infections, including two asymptomatic cases, while a smaller city in the north called Suihua reported one infection, raising concern that the virus is spreading within the broader Heilongjiang Province. Bloomberg News

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House OKs bill creating PHL’s first mental wellness center

By Jovee Marie N. Dela Cruz @joveemarie

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MID the increasing mental health problems brought about by the Covid-19 pandemic, the House of Representatives has approved on third and final reading the creation of a mental wellness center.

House Committee on People’s Participation Chairman Rep. Florida P. Robes said lawmakers approved last Monday House Bill 9980 with 196 in the affirmative with zero negative and no abstention.

In the Philippines, Robes, principal author of the bill, said there is a growing number of Filipinos suffering from mental health issues.

Quoting a report by Frances Prescila Cuevas, head of the National Health Program of the Department of Health (DOH), the lawmaker said at least 3.6 million Filipinos suffer from mental disorders.

The National Center for Mental Health (NCMH) also reported that thousands of Filipinos sought help from NCMH over their mental health issues during this pandemic.

Citing the World Health Organization, Robes noted increased levels of negative impact of the pandemic in the mental health of individuals all over the world.

According to Robes, the mental health center, which will be located in San Jose Del Monte City in Bulacan, is the first of its kind in the country.

Robes said the establishment of the mental health clinic will be funded and managed by the city government of San Jose Del Monte (SJDM) in conjunction

with the DOH. “Mental health has been widely ignored and less prioritized by the government as our country has been considered one of the poorest in terms of mental health resources,” she added.

“The problem of mental health has even been more pronounced as we encounter the many ill-effects of Covid-19 with the lockdowns and social distancing which have prevented us from being with our friends and engaging in personal interactions and connection with other people,” Robes said.

She said the San Jose Del Monte Mental Wellness Center will provide services that include counseling and therapy, crisis counseling and intervention, medication, evaluation and management, group therapy, mindfulness meditation, after-hours care and other psychiatric services.

It will also provide psychotherapy services to patients on a multiple of issues, including the management of difficult emotions, anxiety and stress, childhood trauma, cross cultural issues, life transitions, depression, parenting issues, post-traumatic stress disorder, domestic abuse and family and interpersonal conflicts.

Robes said the city government of SJDM would now prepare a development plan aligned with the Philippine Health Facility Development Plan in consultation with the DOH. Robes earlier pushed for the creation of mental health desks in local government units to address the worsening mental health issues brought about by the pandemic.

Senate reso honors doctors on National Physicians’ Day

By Butch Fernandez @butchfBM

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HESenate,inaunanimousvote, swiftly adopted a resolution commending the “immeasurable contribution and sacrifices” of Filipino physicians in the fight against Covid-19.

Sponsored by Sen. Juan Edgardo Angara, Resolution 916 was quickly passed by senators Monday in time for the celebration of the 43rd National Physicians’ Day. The resolution noted “the pandemic has only underscored the importance of our physicians, as they have constantly played a valuable role—from the onset of the pandemic when they bravely attended to the sick with very limited information on Covid-19, until today when the country is rolling out a national vaccination program and they are key players in monitoring and administering the vaccines.”

“Not only have they served as vanguards to our health and wellbeing. They have become our beacons of hope, reminding us that through perseverance, commitment and hard work, not to mention the proper skills and knowledge, a path out of this pandemic and back to normalcy, can be forged,” Angara said.

From the start of the pandemic in March 2020 to September 2021, Angara said about 25,000 health-care workers contracted Covid-19, and 105 of them died because of the virus.

“Such dedication and passion to serve must truly be recognized, Mr. President. It is unacceptable that while they are called to serve with the frontlines against the Covid-19 virus, we do not give them acknowledgment and the protection they deserve,” Angara said.

For his part, Majority Leader Juan Miguel Zubiri recognized the leadership role that physicians have taken during the pandemic. “On top of their duties within the hospital, they also had to become public ambassadors, Mr. President, combating misinfor-

mation, particularly regarding the Covid-19 vaccines in offering clarity, direction, and hope. Their expertise and guidance have been invaluable in these uncertain times,” he said.

Sen. Joel Villanueva noted that with the passage of the measure, recognition will be finally given to physicians “who have tirelessly sacrificed to heal us, keep us safe, administer vaccines and save our lives.”

Sen. Nancy Binay also proposed to invest in the welfare of physicians and other health personnel.

“Only by doing so can we assure the people that they will receive consistent quality health care and this is more evident now that we are facing a global pandemic,” she said.

Sen. Richard J. Gordon cited the effort of the Philippine Red Cross (PRC) to help physicians through the testing of health-care workers once every two weeks. He said PRC has tested about 80,000 health-care workers. “This is still not enough, Mr. President. I know that we have passed bills here that would encourage young people to become doctors. In fact we wanted a doctor in every town, or in every barrio,” Gordon said.

Sen. Pia Cayetano said a way to help physicians is to help increase their tribe by supporting medical schools.

She said through Republic Act 11509 or the Doktor Para sa Bayan Act, the Senate has taken steps and budgetary interventions to help the growth of the medical profession.

Sen. Imee Marcos also supported the adoption of the resolution as she called for the special risk allowance and other benefits to be immediately provided to health-care workers.

Presidential Proclamation 1789 issued in 1978 declares September 27 every year as Physicians Day. It describes physicians as profession that answer the calls for service to humanity, regardless of sex creed, color, or nationality, and that they play a vital role in the development of human society as vanguards of the people’s health and well-being.

Wednesday, September 29, 2021 A9

Finance chief: No misuse of govt funds on repair of Makati LandBank building

By Bernadette D. Nicolas @BNicolasBM

F

INANCE Secretary Carlos G. Dominguez III belied Bayan Muna party-list chairman Neri Colmenares’s claim that public funds were misused for the renovation project on the former building of the state-run Land Bank of the Philippines (LandBank) amid the Covid-19 pandemic.

Dominguez, who is also LandBank chairman, said the renovation of what used to be the headquarters of the LandBank in Makati started in 2019 and is part of the infrastructure works being undertaken by the Department of Public Works and Highways (DPWH).

“The structure, located along

Senator Gil J. Puyat Avenue will be transformed into a ‘green’ building to house the organic personnel of the Office of the President [OP].

Building works started almost two years ago, before the Covid-19 pandemic hit not only the Philippines,” Dominguez said.

Since the project was already included in the DPWH budget under the 2019 national budget, Dominguez said this “means that it was planned in 2018 or earlier.”

Citing officia l documents, Dominguez said the renovation project in the building has nothing to do with the institution of LandBank and its functions.

“Mr. Colmenares is, as usual, totally wrong. The budget for the project was requested by Malaca-

ñang long before the pandemic, and has nothing to do with LandBank,” Dominguez said.

Dominguez issued the statement to disprove claims made by Colmenares, who was a former lawmaker and reportedly planning to run for a senatorial slot, that the renovation project on the former LandBank building was a “deplorable misuse of public funds” amid a pandemic-induced crisis.

Colmenares earlier claimed that P10.3 billion worth of savings from the Contingent Fund were misappropriated to fund “non-essential, pork barrel projects” by DPWH amid the Covid-19 pandemic. Of this amount, Colmenares said, P300 million was used for the repair and rehabilitation of the LandBank Building 1 in Makati.

LandBank moved to its current

main office at the LandBank Plaza in Malate, Manila 20 years ago, way before it transferred the ownership of its previousheadquartersinMakatiCityto the national government back in 2011.

Moreover, the DOF also said documents show that OP and DPWH have been in communication regarding the former LandBank building’s “structural retrofitting” project since October 2019 as this was already included in the DPWH budget for that fiscal year under its “Regular Agency Fund, Continuing Appropriations, Republic Act 11260, FY [fiscal year] 2019 General Appropriations Act, Contingent Fund.”

The Department of Budget and Management in July 2020 released the Special Allotment Release Order for the project.

1,593 Covid patients sent to home isolation as Davao City shifts tack on virus treatment

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—Some 1,593 Covid-19 cases here have been allowed on supervised home isolation as health authorities said there were already several homes with more than one, if not all, members that have been infected with the virus.

Home isolation has been given the green light as the new mode of quarantine rather than sending infected patients to the government designated isolation and quarantine facilities.

Mayor Sara Duterte-Carpio also disclosed that 704 houses have been locked down in the process.

The mayor said this was the report as of Monday, as she disclosed that Davao Covid-19 Task Force has approved the home isolation for Covid-19 patients, whose mild or moderate symptoms were manageable and do not require hospitalization.

She said the health personnel have

conducted the testing and tracing and recommending the isolation and quarantine of the patients.

Of the 704 house lockdowns, some have one or more Covid-19 positive patients, “which could attest that household transmission remains high amid the city’s surge of Covid-19 cases,” she said.

The mayor said 12 buildings, four compounds, and one school are currently on lockdown also.

The city government utilized 1,108 security personnel from the National Police, police auxiliary, barangay tanods, and Public Safety Security Command Center to enforce strict compliance by the infected persons of the protocols, such as being prohibited from going out of their homes.

Dr. Michelle Schlosser, spokesman of the Davao Covid-19 Task Force, said they have regularly communicated with the barangay captains and other village functionaries such as the members of the Barangay Health Emergency Response Teams (BHERTs), Safety and Security Cluster (Na-

tional Police), City Health Office, and district health offices to strengthen and monitor the lockdowns in households.

Dr. Schlosser confirmed that in some households, transmission has infected all members of a family. She blamed the high transmission among family members to the increasing number of family and social gatherings, such as birthdays and reunions.

“If you truly love your friends,

2020/2021 Bar examinations moved back to January 2022

By Joel R. San Juan @jrsanjuan1573

T

HE Supreme Court announced its decision on Tuesday to reschedule the conduct of the 2020/2021 Bar examination from November 2021 to early next year due to the current Covid-19 situation in the country.

In its Bar Bulletin 28, S. 2021, the Office of the 2020/2021 Bar Chairman Associate Justice Marvic Leonen said aspiring lawyers would have to wait until January to take the exams.

Instead of the four Sundays of this coming November, Justice Leonen said the 2020/2021 Bar will be held on January 16, 23, 30, and February 6, 2022.

The rescheduling of the exams, according to Leonen, was decided “after considering the Covid-19 situation nationally and in all the testing sites, as well as receiving advice from various experts.”

He added that the delay is necessary “to assure the highest level of safety for all the bar applicants and personnel.”

However, Leonen said the application period would no longer be reopened.

“All preparatory activities for the Bar Examinations, including the selection of the bar applicants of their venue, downloading of the secure exam delivery program, and

other activities shall continue,” Leonen said.

He advised aspiring lawyers to treat the long wait as an opportunity to further prepare themselves for the Bar exams.

“Remember that you study not only to pass the bar examinations, but also so that you will best serve others. Study well, purposively and with passion,” Leonen added.

Leonen earlier announced that applicants for the 2020/2021 bar examinations who have yet to complete their online registration will have until September 24 to do so.

The announcement was made after the SC learned that many law graduates have not completed their registrations although the online applications for the Bar ended last September 15.

The Court has so far designated 24 testing centers nationwide for the bar examinations.

It said that four other testing centers—three in Metro Manila and one in Central Luzon—are still being considered.

The Court earlier said it had allowed the regionalization of the next Bar examinations to reduce the examinees’ travel and accommodation expenses, as well as minimize their transit in compliance with existing health guidelines being implemented in light of the Covid-19 pandemic.

your family, this is not the right time to hold a social gathering.

We have social-media platforms.

Let’s keep ourselves from physical social gatherings being the cause of the surge of household transmission,” she said.

As of September 27, Davao City has 9,084 active Covid-19 cases. Since March last year, 49,000 persons here have been infected and 1,498 have already died, the city information office said.

A10 Wednesday, September 29, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The best gift we can give this Christmas

O

nline shoppers in the Philippines are expected to add more items to their electronic carts in the coming weeks. The conscientious shoppers, especially those with the means, will start buying their Christmas gift items early so they don’t have to compete with others who will have to wait for their 13th month pay before they start browsing through the offerings of e-commerce platforms. Despite the economic hardships brought about by the pandemic, the practice of gift-giving in the Philippines has not been totally abandoned last year, but households spent less on luxury items due to economic uncertainty.

The expected increase in demand for consumer goods during the holidays would mean more wrapping paper and plastic packaging in the trash bins. More often than not, companies that sell items via e-commerce platforms would make use of bubble wrap and packaging tape to protect the products for delivery. One can expect more bubble wraps and even Styrofoam to protect the package if the item is considered fragile.

The piles of plastic waste and paper wrappers will add to the usual food waste that will accumulate during the holidays. This has prompted groups, such as the Youth Strike for Climate Philippines, to launch a petition urging electronic commerce platforms like Lazada and Shopee to adopt a zero-waste approach in their business (See, “Groups urge Lazada, Shopee to adopt zero-waste scheme,” in the BusinessMirror, September 8, 2021). Environmental groups have called on e-commerce platforms to hasten the implementation of sustainable solutions given the resources that they have at their disposal.

The increase in plastic waste will also compound the garbage problem of communities and local government units, which will ultimately threaten our food sources. The Philippines is currently grappling with tons of medical waste that consumers dispose of every day. The Asian Development Bank noted that Metro Manila alone generates about 280 tons of medical waste a day or 280,000 kilograms of face masks, face shields and other personal protective equipment that are dumped by both individuals and health-care facilities daily.

Polymers from face masks and plastic face shields that find their way into the sea will be consumed by fish and other marine life in the country’s oceans. Citing a study by Ocean Conservancy, the Biodiversity Management Bureau of the Department of Environment and Natural Resources noted that 8 million tons of plastic that enter the ocean every year contribute to loss of species and contamination of the food chain. Plastic waste not only threatens small pelagic fishes that we usually consume; it can also kill large animals that are vital to marine ecosystem.

Unless companies, particularly those that manufacture popular consumer goods, and online sellers reduce their use of plastic packaging and work with communities to recycle waste, plastic waste will continue to pollute our seas. Companies must work with communities and innovators and fast-track efforts to find sustainable solutions that will allow them to drastically cut plastic waste. The adoption of a zero-waste lifestyle, which will make our planet healthy, is the best gift we can give our children and loved ones this Christmas.

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What you need to know about the SSS Disability Benefit Program Aurora C. Ignacio

All About Social Security

T

here are times when workers encounter accidents or become totally sick, leading to their disability and making them unable to go about their normal lives. Sometimes, even their savings are not enough to cover the expenses not just for the hospitalization but also for things they need on their road to recovery and a new life.

For today’s column, I am going to talk about the SSS Disability Benefit Program.

SSS adopts the World Health Organization’s (WHO) definition of disability as “any restriction or lack [resulting from impairment] of ability to perform an activity in the manner or within the range considered normal for a human being.”

Disability Benefit is a cash benefit granted—either as a monthly pension or a lump sum amount—to a member who becomes permanently disabled, either partially or totally.

A member who suffers from partial or total permanent disability, with at least one month contribution paid to the SSS prior to the semester of contingency, may qualify for this benefit. However, to qualify for a monthly disability pension, he/she must have paid at least 36 monthly contributions prior to the semester of disability. If with less than 36 monthly contributions, he/she is granted a lumpsum amount.

In filing for the benefit, a claimant needs to submit the following: 1. Disability Claim Application (DisCA) Form.

2. Photo and Signature Form (for initial claims only).

3. SSS Medical Certificate Form accomplished by attending physician

within six months from the date of filing.

4. Supporting Medical Records (certified true copy).

5. SSS Unified Multi-purpose Identification (UMID) Card or any valid IDs (one with photo and both with signatures).

Partial permanent disability is considered for the loss of the following body parts: n One thumb. n One index finger. n One middle finger. n One ring finger. n One little finger. n One hand. n One arm. n One foot. n One leg. n Both ears. n Hearing of one ear. n Hearing of both ears. n Sight of one eye.

Removal of the following generative organs are also considered permanent partial disabilities, provided that the female member must be below 45 years old at the time of operation to be entitled to any benefit (Per SSC Res#1433): n Loss of uterus alone. n Loss of uterus and one ovary. n Loss of both uterus and ovary. n Loss of both ovaries.

Total permanent disability is

granted in case of any of the following: n Complete loss of sight of both eyes. n Loss of two limbs at or above the ankles or wrists. n Permanent complete paralysis of two limbs. n Brain injury resulting to incurable imbecility or insanity; and n Such cases as determined and approved by SSS. The amount of the monthly pension will be based on the member’s average monthly salary credit and the credited years of membership prior to the semester of contingency.

The minimum monthly pension for SS Disability Benefit is P1,000 for members with less than 10 credited years of service (CYS); P1,200 with at least 10 CYS and P2,400 with at least 20 CYS. If qualified, the member is granted a monthly SS Disability Pension, plus P500 monthly Supplemental allowance. In case of SS Total Disability pension, Dependent’s pension of 10 percent of the member’s basic monthly pension, or P250, whichever is higher is granted up to five dependent minor children, beginning from the youngest, with no substitution allowed. A 13th month pension is also payable every December to SS total disability pensioners; for SS partial disability pensioners, 13th month pension shall be paid provided that pension duration is at least 12 months. Also, an additional benefit of P1,000 has been implemented effective January 2017.

At this time, the application of the Disability Benefit is done through the Dropbox system to minimize interaction.

The disability benefit shall be mandatorily disbursed through the qualified payees’ UMID card enrolled as Automated Teller Machine (ATM) card. In the absence of this, payment shall be made through participating banks under the Development Bank of the Philippines (DBP) Disburse-

ment Facility via the Philippine Electronic Fund Transfer System and Operations Network (PESONet), electronic wallets (E-wallets), or accredited remittance transfer companies (RTCs)/cash payout outlets (CPOs). Qualified payees need to enroll the following details in the Disbursement Account Enrollment Module (DAEM) and upload a proof of account in the My.SSS facility in the SSS web site: for PESONet participating banks, bank name and account number; if through E-wallet, and RTC/CPO, mobile number. Members shall be notified by SSS thru email or SMS upon crediting of their disability claims to their PESONet bank/E-wallet accounts, or if payment is already available through RTCs/CPOs. People who become disabled in one way or another experience limitations to their mobility to do various daily activities. They go through other challenges emotionally and psychologically, aside from what we see physically.

Here at SSS, we work towards the improvement of our benefits and services, including disability benefits. Unlike in some private insurance agencies, where the coverage for disability is a separate policy and plan, the SSS monthly contributions cover future contingencies (Old-age, Disability, Death) of our members.

Of course, we do not wish for our members to avail themselves of these benefits due to the reasons it is being applied for.

My hope is that we all continue to stay healthy and safe during these times. And when you see a physically challenged individual, make them an inspiration to your daily life.

Have a great day!

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

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

Dubai to find out if pandemic-delayed Expo 2020 will pay off

By Jon Gambrell | Associated Press

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UBAI, United Arab Emirates—A computer-graphic-soaked advertisement featuring Australian actor and Hollywood heartthrob Chris Hemsworth beckons the world to Dubai’s upcoming Expo 2020, promising a “world of pure imagination” as children without face masks race across a futuristic carnival scene.

Reality, however, crashes into the frame in all capital-letters caption at the bottom of the screen, saying: “THIS COMMERCIAL WAS FILMED IN 2019.”

Delayed a year over the coronavirus pandemic, Dubai’s Expo 2020 opens on Friday, pushing this citystate all-in on its bet of billions of dollars that the world’s fair will boost its economy. The sheikhdom built

what feels like an entire city out of what once were rolling sand dunes on its southern edges to support the fair, an outpost that largely will be disassembled after the six-month event ends in March. But questions about the Expo’s drawing power in the modern era began even before the pandemic. It will be one of the world’s first global events, following an Olympics this summer that

Dubai, which won the rights to host the Expo in the years after FIFA awarded Qatar the 2022 World Cup, will be the Arab world’s first. It had banked on the Expo providing a needed boost to its economy after its real estate market crashed during the Great Recession. divided host nation Japan and took place without spectators. Though Dubai has thrown open its doors to tourists from around the world and has not required vaccinations, it remains unclear how many guests will be coming to this extravaganza.

For some, Expo 2020 has become

a $7-billion metaphor for the United Arab Emirates—a futuristic site to draw the world’s well-to-do, built by low-paid foreign workers, to fête a federation of sheikhdoms where speech and assembly remains strictly controlled.

Expo 2020 declined to make any official available to speak to The Associated Press prior to the opening.

The organizers also did not respond to a series of questions by the AP about the event, instead emailing back a brief statement.

“We have built an innovative, people-first community that meets the demands of a new world economy, supported by the latest advances in technology and human-centric See “Dubai,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Two Europes: Low vaccine rates in east overwhelm ICUs

Filipino seafarers as the Philippines’ gift to the world Dennis Gorecho

Pinoy Marino Rights

By Stephen Mcgrath | Associated Press

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UCHAREST, Romania—In a packed intensive care unit for coronavirus patients in Romania’s capital, Bucharest, 55-yearold Adrian Pica sits on his bed receiving supplementary oxygen to help him breathe. “I didn’t want to get vaccinated because I was afraid,” he said.

Around 72 percent of adults in the 27-nation European Union have been fully vaccinated against Covid-19, but a stubbornly low uptake of the shots in some eastern EU nations now risks overwhelming hospitals amid a surge of infections due to the more contagious Delta variant.

“Until now I didn’t believe in Covid-19,” Pica, who said his early symptoms left him sweating and feeling suffocated, told The Associated Press. “I thought it was just like the flu. But now I’m sick and hospitalized. I want to get a vaccine.”

Bulgaria and Romania are lagging dramatically behind as the EU’s two least-vaccinated nations, with just 22 percent and 33 percent of their adult populations fully inoculated.

Rapidly increasing new infections have forced authorities to tighten virus restrictions in the two countries, while other EU nations such as France, Spain, Denmark and Portugal have all exceeded 80 percent vaccine coverage and eased restrictions.

Stella Kyriakides, the EU’s health commissioner, said the “worrying gap” on vaccinations needs urgently addressing. Slovakia, Croatia and Latvia have vaccinated around 50% of all their adults. But jab uptake in many Central and Eastern European countries has remained weak or declined.

In Norway, which has vaccinated around 70 percent, authorities on Saturday scrapped restrictions that Prime Minister Erna Holberg called “the strictest measures in peacetime.” Nordic neighbor Denmark lifted virus restrictions on September 10, while the UK has also abandoned most pandemic restrictions due to high vaccine rates.

In contrast, at Bucharest’s Marius Nasta Institute of Pneumology, the ICU’s chief doctor, Genoveva Cadar, says its beds are now at 100 percent capacity and around 98 percent of all its virus patients are unvaccinated.

“In comparison to previous waves, people are arriving with more severe forms” of the disease, she said, adding that many patients in this latest surge are younger than in previous ones. “Very quickly they end up intubated—and the prognosis is extremely bleak.”

Daily new coronavirus infections in Romania, a country of 19 million, have grown exponentially over the last month, while vaccine uptake has declined to worrying lows. Government data shows that 91.5 percent of Covid-19 deaths in Romania on Sept. 18-23 were people who had not been vaccinated.

On Sunday, 1,220 of Romania’s 1,239 ICU beds for virus patients were occupied. In many cases, only death was freeing up ICU beds. At the Marius Nasta Institute, a mobile ICU that stands on hospital grounds opened on Monday, and is already

Dubai. . .

continued from A10

design,” the statement said.

Modern wonders are what make the expos shine since their creation in the 1850s. Paris unveiled its Eiffel Tower at the 1889 fair. Chicago became the “White City” in 1893 as electric lights bathed its world’s fair site, which also boasted the first Ferris wheel. Telephones, television broadcasts and X-rays also wowed crowds.

In recent decades, however, many expos have not received the same attention—or at least not the positive kind. The 1984 world’s fair in New Orleans went bankrupt and required a government bailout. Expo 2000 in

full with patients.

“I don’t know how we’re going to get over the next period, but we’re definitely going to be here,” hospital manager Beatrice Mahler told the AP. “We’re going to do everything we can [but] we don’t have a winning recipe.”

Vlad Mixich, a Romanian public health specialist, told the AP that a “historic distrust of authorities” together with what he said was a very weak government vaccination campaign has contributed to the low vaccine uptake among his compatriots.

“During the vaccination campaign, unfortunately the politicians were the main communicators,” he said, adding that a frequent turnover in the country’s health ministers has had a massive impact on efforts to inoculate Romanians.

In neighboring Bulgaria, an alarming 23 percent of people said they do not want to get vaccinated, compared with only 9 percent across the bloc, according to a Eurobarometer survey.

Sabila Marinova, the ICU manager at a hospital in Bulgaria’s northern town of Veliko Tarnovo, says none of its Covid-19 patients is vaccinated.

“We are very exhausted,” she said.

“It seems that this horror has no end.”

The vice president of Romania’s national vaccination committee, Andrei Baciu, said that fake news has been a key factor in keeping people from getting jabbed.

“There is and was a culture that promotes fake news. We are working with a team of specialists to combat [it]... right now there is a high number of [infections] due to low vaccination rates,” he said, adding that the government is looking to increase ICU capacity.

Sometimes medical workers in Eastern Europe face additional risks.

In September in Bulgaria’s port city of Varna, a group opposed to vaccines attacked a medical team at a mobile vaccination station. Health Minister Stoycho Katsarov condemned the attack, saying “we will not allow our medics to be insulted, publicly harassed and humiliated” for trying to save lives.

The implementation of vaccine passports, which allow people to show their vaccine status to carry out day-to-day activities, may be one of few options left for European governments at a loss on how to encourage their vaccine-hesitant citizens to get jabbed. Experts say vaccine skeptics in parts of Europe could hamper the entire continent’s efforts to end the pandemic.

Back at the Marius Nasta Institute, Nicoleta Birtea, a 63-year-old unvaccinated Covid-19 patient who had previous health issues, says she woke up a month ago feeling dizzy and ill and called for an ambulance.

“I hope that I got here on time,” she said.

Germany drew 18 million visitors, well short of the 40 million expected.

Milan’s 2015 Expo saw rioting over corruption allegations.

Dubai, which won the rights to host the Expo in the years after FIFA awarded Qatar the 2022 World Cup, will be the Arab world’s first. It had banked on the Expo providing a needed boost to its economy after its real estate market crashed during the Great Recession.

Auditors EY estimated in 2019 that Dubai would spend $7 billion alone on construction projects for the Expo. Relying on a projection of 25 million visitors, EY estimated a $6 billion boost during the event.

EY told the AP it hadn’t updated any of its 2019 figures for the Expo.

Wednesday, September 29, 2021 A11

“Filipino seafarers are a gift to the world and to the Church.”

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ords that became part of the homilies of masses for the 26th National Seafarers Day (NSD) last Sunday, September 26, 2021.

President Fidel V. Ramos issued on July 9, 1996 Proclamation 828 declaring August 18 as NSD to give due recognition to the vital role of Filipino seafarers towards the development of the Philippines as a maritime country.

The Stella Maris Philippines was tasked to coordinate with the public and private sector in activities related to the celebration of the said event.

Later, Proclamation 1094 was issued in 1997 by President Ramos, which moved NSD to every last Sunday of September every year.

The Philippines is considered as the major supplier of maritime labor globally as it is estimated that there is one Filipino seafarer for every four to five complements on board a vessel at any time.

The sea-based sector’s remittances comprise at least 22 percent of the total dollar remittances of overseas Filipino workers (OFWs).

These remittances help spur domestic consumption in the Philippines and a key ingredient in the

country’s drive to achieve higher but sustainable growth.

Seafarers have been at the frontline in the time of the Covid-19 pandemic, performing a vital function in sustaining the stream of important items, akin to food, household and medical provisions.

However, the Covid-19 pandemic has placed extraordinary demands on seafarers, with hundreds of thousands of them stranded on ships for months beyond their original contracts, unable to be repatriated due to national travel restrictions. A similar number of seafarers are unable to join ships and earn a living.

“As Filipino seafarers continue to sail the seas of the world, they give hope that despite the pandemic that has paralyzed many of our day-today activities and ventures, somehow, we are still interconnected.

There is always hope. Our hope is God,” Balanga Bishop and Catholic Bishops’ Conference of the Philippines (CBCP) Bishop Promoter of Stella Maris-Philippines Ruperto

The Memorial at Sea is a traditional wreath and flower-throwing activity by the sea for the deceased seafarers and fishers, as well as for those who have perished or missing at sea.

C. Santos said in a statement.

Bishop Santos noted that Filipino seafarers give honor to the Philippines with their dedication and discipline in their line of work.

Pope Francis earlier aired his concern on the challenges that are faced by maritime workers and their families in the midst of the pandemic, adding that “without the people of the sea, many parts of the world would starve.”

People depend on marine and coastal biodiversity for their sustenance as the fishing industry employs, directly or indirectly, more than 200 million people.

Bishop Santos added that “seafarers and fishers bring healing when hunger is nourished and when material sustenance from their cargo ships or boats reach our ports and shores.”

Former Manila Archbishop Luis Antonio Tagle during the 2012 NSD celebration said that Filipino seafarers are also “saint potentials”.

Referring to Saint Lorenzo Ruiz and San Pedro Calungsod, Tagle stressed that they were seafarers and missionaries at the same time before they became saints, who sailed to other countries and died for a mission: “To teach the Good News.”

The work of a seafarer is not exactly a walk in the park.

Away from his family and working on board vessels sailing non-stop for weeks or months the world’s oceans, the Filipino seafarer is physically, mentally and emotionally stressed.

The shipping industry and seafaring profession are not without incident or peril where some may go missing or die in maritime disasters, while others may suffer illnesses or injury due to increased work-related stress and exposure to extreme weather changes.

The European Maritime Safety Agency declared in a report that between 2011 and 2020, there were 745 work-related fatalities among maritime workers and nearly 9,000 persons injured.

The Memorial at Sea is a traditional wreath and flower-throwing activity by the sea for the deceased seafarers and fishers, as well as for those who have perished or missing at sea.

The flowers carry the message of love and gratitude, as there is no distance of time or oceans but a mutual waiting for a reunion in peace.

Last year’s Memorial at Sea focused on the 36 Filipino seafarers that were still missing after the Panama-flagged livestock carrier Gulf Livestock 1 capsized in rough seas in southwest Japan on September 2, 2020 due to Typhoon Maysak.

Let us continue to pray for the Filipino seafarers’ perseverance, for their protection and for their safety.

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

What’s the price of Biden’s plan? Democrats drive for zero

By Josh Boak

ASHINGTON—What will it cost to enact President Joe Biden’s massive expansion of social programs?

Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation—by raising taxes on corporations and the wealthy, negotiating the price of prescription drugs and dialing up other sources of federal revenue such as increased IRS funding.

The idea is that entire package should pay for itself.

Defending a bill not yet fully drafted, Democrats are determined to avoid a deficit financed spending spree. They are growing frustrated by the focus on the proposed $3.5 trillion spending total, arguing far too little attention is being paid to the work they are doing to balance the books.

Biden on Friday said he would prefer the price tag described as “zero.”

“We pay for everything we spend,” Biden said at the White House. “It’s going to be zero. Zero.”

But the revenue side of the equation is vexing, and it’s emerged as a core challenge for Democratic bargainers as they labor to construct one of the largest legislative efforts in a generation. Their success or failure could help determine whether the bulk of Biden’s agenda becomes law and can withstand the political attacks to come.

Republicans, lockstep in opposi-

tion, aren’t waiting for the details.

They’ve trained their focus on the $3.5 trillion spending ceiling set

by Democrats, pillorying that sum as fiscally reckless, misguided, big government at its worst.

“The radical left is pushing in all their chips—they want to use this terrible but temporary pandemic as a Trojan horse for permanent socialism,” Senate Republican leader Mitch McConnell of Kentucky said Thursday. “Trillions upon trillions more in government spending when families are already facing inflation.”

Part of the problem for Democratic leaders is the lack of a consensus about which programs to fund and for how long. House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Chuck Schumer, D-N.Y., acknowledge the price will likely come down and say they have a “menu” of revenue raisers to pay for it. But without certainty on what initiatives will be included, no final decisions can be made.

“This is not about price tag,” Pelosi said Thursday. “This is about what’s in the bill.”

Biden and administration officials stress the plan is as much about fairness as dollars and cents.

By taxing the wealthy and corporations, they hope to fund paid family leave and child tax credits that help those reaching for the middle class, all while adopting environmental and economic policies that help the US compete with China. But the haggling over a final spending target is overshadowing the policy goals they are trying achieve.

Washington Rep. Pramila Jayapal, a lead negotiator for House progressives, said Friday that reporters should not depict the measure as costing trillions of dollars when the accompanying proposed tax increases would cover the cost.

“I just believe that this is going to be a zero-dollar-bill—that’s the No. 1 priority,” she said.

Sharron Parrott, president of the Center on Budget and Policy Priorities, a liberal think tank based in Washington, warned Democrats that emphasizing the $3.5 trillion figure could detract from what they are trying to achieve.

“The debate so far has been overly focused on a single number: the $3.5 trillion in gross new investments over the next ten years—including both spending increases and tax cuts— that may be included in the package,” Parrott wrote in an August blog post.

“True fiscal stewardship requires a focus on the net cost of the package and, even more fundamentally, a focus on the merits of the investment and offset proposals themselves.”

What Biden is really pushing are two goals that can easily come into conflict. He wants to restore the middle class to the epicenter of economic growth, but do so without worsening the national debt or raising taxes on people earning less than $400,000 a year.

Further complicating things is that many of his spending policies are actually tax cuts for the poor and middle class, which means he is raising taxes for one group in order

to cut them for another.

Democrats also have to contend with how the measures are assessed by the Congressional Budget Office, the final arbiter of how the legislation will affect the federal balance sheet.

The Democrats’ expanded child credit and dependent care credits, enacted earlier this year, are counted as costs in a CBO score. Biden wants to extend these programs as part of the budget, which he is now arguing amounts to one of the largest middleclass tax cuts in US history.

“It’s reducing taxes, not increasing taxes,” Biden said Friday.

It’s not entirely clear whether Biden’s claim of “zero” cost is feasible under the 10-year outlook used by the CBO to assess the economic impacts of legislation. Biden’s own budget officials earlier this year estimated that his agenda would increase the national debt by nearly $1.4 trillion over the decade.

Biden on Friday described the multi-tiered talks with legislators as at a “stalemate.” More meetings are expected in coming days.

In the evenly split Senate, key Democratic senators such as West Virginia’s Joe Manchin and Arizona’s Kyrsten Sinema have qualms about the total spending. Democratic moderates are jockeying for advantage against their liberal counterparts.

With time running short, Biden is asking for more patience to get the numbers right so that the votes will follow.

“This is a process,” he said. “But it’s just gonna take some time.”

But that was before the coronavirus pandemic forced Dubai’s long-haul carrier Emirates to ground its fleet of jumbo jets as lockdowns and quarantines seized the world. While the airline is restarting more flights and hiring thousands of cabin crewmembers, worldwide travel is still ailing.

The UAE, which has grown closer to China in recent years, likely counted on Chinese visitors to the Expo.

Shanghai’s 2010 Expo saw over 73 million visitors, a record. But betting on China seems out at the moment as those returning to the country face weeks of quarantines and testing that can include anal swabs.

In recent weeks, Expo officials have begun referring to an expected “25 million visits” to the site, includ-

ing those watching events online.

“It’s become ‘How do we do the biggest, the best Expo to the world’s ever seen in the Middle East’ to ‘How do we put on an Expo for a very different world?’” said Robert C. Mogielnicki, a senior resident scholar at the Arab Gulf States Institute in Washington. “Getting to 25 million visitors under the current circumstances seems like a pretty difficult target to meet.”

The Emirates also planned splashy announcements around the Expo, perhaps none bigger than its diplomatic recognition of Israel.

After delaying the Expo, the UAE last year went ahead with the recognition anyway. But the event has also become entangled in politics.

Activists raised concerns over workers’ rights issues, as low-wage laborers from South Asia have long faced abuse in the Emirates and across the rest of the oil-rich Arab states, working long hours in intense heat and humidity. In October 2019, an Expo official acknowledged two workers had been killed on the site, and there had been 43 other “serious incidents” resulting in injuries.

It also remains unclear how many laborers fell ill from the coronavirus.

In an abrupt change, Expo officials also in recent days announced visitors will be required to prove they were vaccinated or take a coronavirus test before entry. That’s even as the UAE has one of the world’s top per-capita vaccination rates.

Meanwhile, the European Parliament this month urged nations not to take part in the Expo, citing human rights abuses, the jailing of activists and the autocratic government’s use of spyware to target critics.

“There is systematic persecution of human rights defenders, journalists, lawyers and teachers speaking up on political and human rights issues in the UAE,” the European Parliament said.

While the Emirati Foreign Ministry described the parliament’s statement as “factually incorrect,” even Expo press staff repeatedly tried to force visiting journalists to sign forms that imply they could face criminal prosecution for not following their instructions on site.

Associated Press

W

A12 Wednesday, September 29, 2021

DOF orders full disclosure of mining review report F

By Bernadette D. Nicolas

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III ordered the publication of a report on the comprehensive review of largescale metallic mines across the country, which found most of them hurdling legal and technical aspects of the audit, but still needing major reforms in the environmental, social, and economic aspects of their operations.

Dominguez, who co-chairs the Mining Industry Coordinating Council (MICC), said the report should cover not only the recently completed two-phase audit but also the upcoming review of mines in the Bangsamoro Autonomous Reg ion in Muslim Mind anao (BARMM) that is set to begin this October.

With the third audit focused on the BARMM mines scheduled to be completed by April next year, Dominguez said he expects the report on all the reviews to be done

by May 2022.

Independent e x per ts were tasked by the MICC to conduct the mining audit.

“May I suggest that as this administration is ending its term in eight and a half months, that the MICC secretariat prepare a report of all the activities of the MICC, particularly in these reviews that were done,” Dominguez said during the 41st meeting of the MICC held via Zoom on September 17, 2021.

Dominguez said releasing the report would enhance the public’s trust and confidence in government, and demonstrate the capability of Filipino experts in conducting mining audits.

“The report should be in such a form that can be used by the ordinary reader and the public, and

that it be made widely available, not only to government officials, the legislature, maybe even in the judiciary, but also to the public in general,” Dominguez said.

On top of this, Dominguez said the release of the report will also encourage provincial/city mining regulatory boards, which are under the direct supervision of the Department of Environment and Nat ura l Resources (DENR), to undertake similar audits on small-scale mining operations under their respective jurisdictions.

The finance chief also thanked the teams of independent experts, represented during the meeting by Dr. Gem Castillo, for its “very comprehensive report” and “for helping the MICC fulfill its mandate.”

“This is the only administration that has actually done a serious review of the mining operations as mandated by the Executive Order [EO]. So thank you for making this very comprehensive report,” Dominguez told Castillo, in reference to EO 79.

The review, which covered 44 large-scale metallic mines in the country, found that majority of the mines passed the legal and techni-

cal aspects of the audit, but required major reforms in the environmental, social, and economic aspects of their operations.

During the meeting, Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano pointed out that the DENR issued several administrative orders to address the deficiencies of the mining operations uncovered by the experts after it was revealed in the first phase of the MICC audit that metallic mines required major reforms.

“These DENR directives resulted in marked improvements” in the conduct of operations in most of the mines, Moncano said.

The review of mining operations is mandated by EO 79 issued in 2012, but it was only during the Duterte administration that the MICC undertook this task to ensure the compliance of mining companies with existing environmental standards, laws, rules and regulations, and to rationalize the management and utilization of minerals toward sustainable development. A total of 29 experts forming technical review teams were involved in the first and second phases of the review ordered by the MICC.

NOTHING TO HIDE? THEN PHARMALLY OFFICERS MUST TESTIFY–GORDON

S

EN. Richard Gordon, chief prober of the Senate Blue Ribbon Committee, asserted on Tuesday that Pharmally officials and other witnesses summoned to testify in the ongoing inquiry into alleged anomalies in the purchases of pandemic supplies should appear if they have nothing to hide.

The senator suggested that President Duterte likewise allow the Executive branch officials invited as resource persons to shed light on the alleged overpriced face masks supplied by Pharmally Pharmaceutical Corporation.

Duterte has twice threatened to prohibit Executive branch officials from appearing as resource persons in the Senate, where, he said, the inquiry appeared more intended for the political projection of senators seeking elective posts in 2022.

On Sunday, Gordon had noted the sudden disappearance of Pharmally Pharmaceutical Corp. officer Krizle Grace Mago and the withdrawal of Linconn Ong from a proposal to testify at a closed-door executive session with senators sitting in the Blue Ribbon inquiry. Ong said, in a letter to the Blue Ribbon on Monday, that he was retreating from the executive session on the

advice of his lawyer.

Sen. Gordon said both Mago’s “disappearance” and Ong’s change of heart may indicate that a coverup is in the works.

In turn, the Senate chief prober wondered aloud why, if the Executive is indeed keen on protecting public interest and fighting anomaly, is it putting stumbling blocks seen to derail the inquiry.

Gordon lamented that both the Senate and the Commission on Audit are even being criticized for investigating anomalies.

Gordon recalled, for instance, that at the start of the inquiry into alleged overpriced pandemic supplies, the Executive already attempted to play down the anomaly, as seen in Duterte’s spirited defense of former economic adviser Michael Yang and the Procurement Service of the Department of Budget and Management that bought an estimated P12 billion in pandemic supplies from Pharmally, a low-capital startup whose chief executive admitted to senators that they borrowed from Yang to sustain their cash f low when they were under pressure to deliver millions of PPE items to the Department of Health, through the PS-DBM. Butch Fernandez

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, City Of Parañaque CUN SAU THANH Mandarin Customer Service Representative 1.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status HE, YANLING Mandarin Customer Service Representative

2.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status HE, YI Mandarin Customer Service Representative

3.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status LIU, BOWEN Mandarin Customer Service Representative

4.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status MAC KIM YEN Mandarin Customer Service Representative

5.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status SHEN, TONG Mandarin Customer Service Representative

6.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status VAY MY LINH Mandarin Customer Service Representative

7.

Brief Job Description: Interact with customer to provide information, support and problem resolution to inquiries and order status WU, TUANJUN Mandarin Customer Service Representative

8.

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 Basic Qualification: Fluent in Mandarin both oral and written

Basic Qualification: Fluent in Mandarin both oral and written

9.

Brief Job Description: Advises on matters regarding the supply chain of Alfamart from distribution centers to stores

16.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

17.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written

18.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

19.

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

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

20.

10.

Brief Job Description: Be the liaison between HQ planning team to secure inventory and with logistic platform to insecure store supply

Basic Qualification: Biligual (Korean And English)

11.

12.

13.

LU, XUEKUN Mandarin Speaking Customer Service Representative Brief Job Description: Responsible for inbound and outbound calls

ZHANG, YU Mandarin Speaking Customer Service Representative Brief Job Description: Responsible for inbound and outbound calls

ZHONG, QIUHUA Mandarin Speaking Customer Service Representative Brief Job Description: Responsible for inbound and outbound calls

14.

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

GAO, MENGQIAO Chinese Customer Service Brief Job Description: managing incoming calls and customer service inquires

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

SONG, WENCHENG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

Brief Job Description: Provides first class service in order to push the sales of a certain product

KONG, BILI Mandarin HR Assistant Brief Job Description: Administer timekeeping. Conduct employee onboarding and help organize training & development initiatives. Provide support to employees in various HR-related topics such as leaves and compensation and resolve any issues that may arise.

LIU, SANYUAN Finance Supervisor 22.

Brief Job Description: Oversees the collection and analysis of financial information of the organization

GUO, DIAN JHOU HR Supervisor 23.

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

Brief Job Description: Develops and administer human resource program and policies

LIM, MANUTH Marketing Senior Executive 24.

Brief Job Description: Manage and organize data from market research and insights and refer business support to ensure efficient operational processes

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

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

27.

28.

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

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

29.

JOHAN EFENDI Marketing Senior Supervisor 25.

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

Brief Job Description: Oversee the day to day activity of marketing department

NIYOMYAT, CHUTIMA Operations Executive

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

26.

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

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

Brief Job Description: Serves as a liaison between the customer and various departments & ensure that all basic CS function are performed

Basic Qualification: Language proficient

Brief Job Description: To support multilingual service desk

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

FEUZ, PETER Multilingual Service Desk Member

Basic Qualification: Language proficient

Brief Job Description: To support multilingual service desk

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

Brief Job Description: Handling beauty and wellness in terms of new trends, regular assessments of programs and products handled by the company.

PARK, WONBEOM General Manager

30.

Brief Job Description: Responsible for the overview of the beauty performance of the company, production and design, styling of the product’s hair and beauty services.

31.

32.

Basic Qualification: Fluent in Chinese language

ZHU, JUN Management Officer Brief Job Description: Preparation of reports, supervise filling system

YU, LEI Vice General Manager Brief Job Description: Work with the general manager

Basic Qualification: Diploma/certificate, college degree of any course banking/finance is a plus atleast 3 years experience in the same field. Mandarin , English and Chinese

33.

YING, TING Operation Manager Brief Job Description: Provide inspired leadership for the organization

WU, SHIBO Technical Officer 34.

35.

36.

37.

38.

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Must be native Cambodian/ Thai/ Chinese/ Indonesian/ Vietnamese fluent in English and respective native language Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Must be native Thai/ Indonesian/Vietnamese/ Taiwanese/Chinese/ Korean/Japanese fluent in English and respective native language. with atleast a year experience in similar field Salary Range: Php 90,000 - Php 149,999

Brief Job Description: Designing, developing and maintaining equipment to ensure effective and safe use

ZHANG, YUNXIANG Technical Officer

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Must be native Japanese/ Cambodian/Thai / Chinese /Indonesian/Vietnamese fluent in English and respective native language with atleast 2 years experience in similar field

Brief Job Description: Designing, developing and maintaining equipment to ensure effective and safe use

XIE, KAIHAI Technical Officer

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Must be native/Taiwanese/ Chinese/Fluent in english and mandarin , with at least 4 years experience in similar function

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

Basic Qualification: Can communicate Korean and Filipino Clients Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor degree, well experienced, English & mandarin excellent Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor degree, well experienced, English & mandarin excellent Salary Range: Php 30,000 - Php 59,999

CITY OF GOOD HOPE HOLDINGS CORP. Unit 401 Valero One Center, 102 Valero St., Bel-air, City Of Makati

Basic Qualification: EXPERIENCED Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Can communicate to Korean and Filipino clients

CHINA INTERNATIONAL WATER AND ELECTRIC CORP. (BRANCH OFFICE) 1350 11/f Suite 1106 Ermita Center Bldg., Roxas Blvd., 072, Bgy. 668, Ermita, City Of Manila

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

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

QUALIFICATION AND SALARY RANGE

KARLSSON, ADAM Multilingual Service Desk Member

CHOI, SOYOUN Beauty Consultant

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHIC HAIR BEAUTY SALON INC. Unit 101-b Continental Court Condo, #47 Annapolis St., Bgy. Greenhills, City Of San Juan

AVANTICE CORPORATION 19/f Pbcom Tower, Ayala Ave., Bel-air, City Of Makati

AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences, 2217 Pedro Gil St., 096, Bgy 880, Santa Ana, City Of Manila

LI, YAN Customer Service Representative Mandarin Speaking

Brief Job Description: Managing incoming calls and customer service inquiries

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

AMOS AND MARK INTERNATIONAL SERVICES INC. 4/f Unit 2c One Ecom Bldg., Ocean Drive St. Mall Of Asia Complex Subd., Zone 10, Barangay 076, District 1, Pasay City

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

ASK ASIA SOLUTIONS INC. 1608 16/f New World Manila Bay Hotel, 1588 M. H Del Pilar Cor. Pedro Gil Sts., 076 Bgy. 699, Malate, City Of Manila

AMOREPACIFIC PHILIPPINES, INC. 22nd Floor, Unit 2205 The Podium, Adb Avenue Cor. Ortigas, City Of Mandaluyong CHUN, NULEE Product Operator (Korean Speaking)

CHEN, LINA Chinese Customer Service

LI, ZHEXIONG Sales Marketing Officer

21.

Basic Qualification: Familiarity on the logistical method of Alfamart; can speak and understand Bahasa

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

No.

ARTSOFT CREATIVE DEVELOPMENT CO. INC. Unit 25d, 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati

Basic Qualification: Fluent in Mandarin both oral and written Salary Range: Php 30,000 - Php 59,999

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

QUALIFICATION AND SALARY RANGE

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

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

ALFAMART TRADING PHILIPPINES, INC. Sm Corporate Office Bldg., E J.w. Diokno Blvd., Brgy. 076, Pasay City

YOSUA Logistics Consultant

15.

A13

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WEI, WEI Customer Service Representative Mandarin Speaking

Wednesday, September 29, 2021

Brief Job Description: Designing, developing and maintaining equipment to ensure effective and safe use

LIU, SHAOSHUAI Technical Staff Brief Job Description: Replacing or repairing the necessary parts

ZHANG, YIN Technical Staff Brief Job Description: Replacing or repairing the necessary parts

Basic Qualification: Productive experience in the relevant industry Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Exceptional ability to prioritize and perform maintenance task and repairs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Exceptional ability to prioritize and perform maintenance task and repairs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Exceptional ability to prioritize and perform maintenance task and repairs Salary Range: Php 30,000 - Php 59,999 Basic Qualification: They configure, install and maintain technical equipment and system Salary Range: Php 30,000 - Php 59,999 Basic Qualification: They configure, install and maintain technical equipment and system Salary Range: Php 30,000 - Php 59,999

DA SUCCESS BUSINESS TRADING INCORPORATED 2503 The Finance Centre, 26th Street Corner 9th Avenue, Fort Bonifacio, City Of Taguig WANG, TIANYI Mandarin Speaking Marketing Specialist 39.

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

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

DATACLICK INTERNATIONAL CORP. E. Rodriguez St., Roxas Blvd. St., Barangay 003, Pasay City

PENG, XIUMIAO Chinese Customer Service Officer 40.

Brief Job Description: The Chinese customer service officer is a first point of contract for the company’s clients, The primary role of a Chinese customer service within the team is to respond to a variety of Chinese clients request and inquiries via the telephone or via live chat

Basic Qualification: A Chinese and fluent in Chinese writing and speaking language Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A14 Wednesday, September 29, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHONG, XIAOMEI Chinese Customer Service Officer

41.

42.

43.

44.

45.

46.

47.

48.

49.

ESTABLISHMENT / ADDRESS

Brief Job Description: The Chinese customer service officer is a first point of contract for the company’s clients, The primary role of a Chinese customer service within the team is to respond to a variety of Chinese clients request and inquiries via the telephone or via live chat CAO VAN HUAN Customer Service Officer Brief Job Description: Converse and interact with the customer

LY DIN PENH Customer Service Officer Brief Job Description: Converse and interact with the customer

NGUYEN THI HIEU Customer Service Officer Brief Job Description: Converse and interact with the customer

NGUYEN TUAN ANH Customer Service Officer Brief Job Description: Converse and interact with the customer

NGUYEN VAN LUC Customer Service Officer Brief Job Description: Converse and interact with the customer

PHUN NAM SANG Customer Service Officer Brief Job Description: Converse and interact with the customer

TRAN THI QUYNH NHU Customer Service Officer Brief Job Description: Converse and interact with the customer

VONG A SANG Customer Service Officer Brief Job Description: Converse and interact with the customer

QUALIFICATION AND SALARY RANGE Basic Qualification: A Chinese and fluent in Chinese writing and speaking language Salary Range: Php 30,000 - Php 59,999

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

No.

LIN, I-FEI Hotel Sales & Marketing Associate 58.

50.

Brief Job Description: Coordinate with various parties, e.g. time charter party, FGEN power plants, from the pre-commissioning to preoperations and maintenance activities and preparation for the O&M phase.

59.

51.

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

DONG, SHUHUA Mandarin Customer Support Representative 60.

52.

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

JIANG, MING Marketing Staff Mandarin Speaking 53.

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

LIN, DONGLING Marketing Staff Mandarin Speaking 54.

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

XIAO, BO Marketing Staff Mandarin Speaking 55.

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

ZHANG, ZUHUA Marketing Staff Mandarin Speaking 56.

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

ZHAO, WEN Marketing Staff Mandarin Speaking 57.

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

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

HE, LIN Mandarin Customer Support Representative 61.

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

RU, JUNHAO Mandarin Customer Support Representative 62.

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

Basic Qualification: More than 20 yrs. of experience in managing plant O&M; Leadership skills and deep expertise in power plants.

63.

64.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management

65.

66.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

TRAN THI HAI VAN IT Support Specialist 67.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

TRUONG CAM QUYEN IT Support Specialist 68.

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

73.

74.

75.

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

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

76.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

JIANG, JINGHUA Strategic And Facilitation Officer 69.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company LIN, MIN Strategic And Facilitation Officer

70.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WANG, YAN Strategic And Facilitation Officer

71.

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

77.

72.

Brief Job Description: Customer service representative attracts potential by answering products and service questions; suggesting information about other products and services.

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

78.

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

WANG, SHAOYANG Mandarin Speaking Account Specialist 79.

Brief Job Description: Perform routine bank telling task including making deposits, withdrawals, transfers and cash transfer, etc.

ZHANG, PENG Mandarin Speaking Account Specialist 80.

Brief Job Description: Perform routine bank telling tasks including making deposits withdrawals transfers and cash transfer etc.

81.

CAO, YANG Chinese Customer Service

Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

CHEN, MEI Chinese Customer Service

82.

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

83.

Brief Job Description: Managing incoming calls and customer service inquiries

CHEN, YOUJUN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

84.

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

Basic Qualification: Must be fluent in Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be fluent in Chinese language

85.

86.

87.

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

Basic Qualification: Must be fluent in Chinese language

88.

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

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with experience in the related position, fluent in enlist and Korean Hangul.

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

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

Basic Qualification: 18-50 Y/O, good organizational skills, excellent verbal communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 15-50yrs old, Good organization skills, excellent mandarin verbal communication skills.

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

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

Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

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

MERAKI SILVER SOLUTIONS CORPORATION Unit 1107,11th Floor, One World Place, 32nd Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

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

CHO, HYUNCHUL Customer Service Representative

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, mandarin, and Fukien language

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

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

Brief Job Description: Customer service representative attracts potential by answering products and service questions; suggesting information about other products and services.

QUALIFICATION AND SALARY RANGE

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

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

Brief Job Description: Customer service representative attracts potential by answering products and service questions; suggesting information about other products and services.

KIM, JANG KYU Customer Service Representative

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.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHO, JOOYEOL Customer Service Representative

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

NGUYEN VAN DONG IT Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

LUU NHAT CUONG IT Support Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

HUYNH VIEN DAT IT Support Specialist

Basic Qualification: Have patience and ability to remain calm in stressful situation

Basic Qualification: Analyze the productivity of the Marketing plans and Projects recommend optimization to senior Management

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

DANG VAN CUONG IT Support Specialist

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

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

No.

ITECHNO SPECIALIST INC. 12/f 1206 & 1207 Aseana Ii Bldg., Bradco Ave. Aseana Business Park, Tambo, City Of Parañaque

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

DENG, WEI Marketing Staff Mandarin Speaking

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

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

Basic Qualification: Must know how to speak and write in Mandarin

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

Basic Qualification: Fluent in Chinese writing and speaking language

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

Brief Job Description: Responsible for client development and logistical arrangements for foreign marketing

XU, ZIJUAN Mandarin Speaking Customer Service Representative

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

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

QUALIFICATION AND SALARY RANGE

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

FIRST GEN CORPORATION 6/f Rockwell Business Tower 3, Ortigas Avenue, Ugong, City Of Pasig ROWSE, GUY WARWICK O&m Adviser

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

ESTABLISHMENT / ADDRESS

GRANDVENTURE MANAGEMENT SERVICES INC. 10/f Newport Entertainment & C Bldg., Newport City, Manlunas St., Brgy. 183, Pasay City

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

www.businessmirror.com.ph

89.

90.

CHEN, ZHENGYIN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

CONG, HUI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

DENG, SHIREN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

HE, JIANQIANG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

HOU, LIPENG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

HU, HAICHAO Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

HUANG, GUANYONG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

91.

92.

93.

94.

95.

96.

97.

98.

99.

100.

101.

102.

103.

104.

105.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JONI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

LEE LI SHING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

LI, LIUYANG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

LIN, QIAOLING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

LIU, QI Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

NGUYEN THI GIANG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

PHAM THANH KIEN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

TANG, KOU Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

TU, PING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

VU THI NGOC HUYEN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

YAN, JIAPENG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

YANG, YANQING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquires

ZHANG, KEQING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

ZHENG, HUIYANG Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries

LI, SONGBIAO Chinese Customer Specialist Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

106.

Brief Job Description: Supervise employees to help ensure efficiency and productivity KIM, SUNG HYUN Assistant Supervisor

107.

Brief Job Description: Supervise employees to help ensure efficiency and productivity

HUANG, YOUNG JUN Marketer 108.

Brief Job Description: Compiling and distributing financial and statistical information

110.

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

111.

Brief Job Description: Customer support and data base services

JUNG, EUNBEE Chinese Customer Service Representative Brief Job Description: Managing calls and customer services

KANG, HAN-PING Mandarin Speaking - Design & Interior Products Specialist 112.

Brief Job Description: Handle service support calls, emails, and chats related to inquiry from clients and/or customers through Mandarin to English translation LEONG JIA HAO Mandarin Speaking - Design & Interior Products Specialist

113.

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

YOO, MINHO General Manager 114.

115.

Brief Job Description: Lead the department of marketing sale & business development. Creates new business opportunity to local & Korean market

DOGRUYOL, ENSAR Open+ Deployment Lead Brief Job Description: Support the Deployment of Open+ across the factory

HSIAO, PO-WEN General Manager

116.

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

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

117.

118.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Strong leadership skills that include being a self starter Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have some experience of working in a marketing role and have knowledge of digital marketing or online advertising Salary Range: Php 30,000 - Php 59,999

LEONG MUN CHOON Malaysian Customer Service Brief Job Description: Customer support and Data base services LY QUOC MINH Vietnamese Customer Service Brief Job Description: Customer Support and Database Services

HUYNH NGOC PHOI Customer Relation Representative (Mandarin Translation) 119.

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

WANG, XIUYING IT Technical Support 109.

Brief Job Description: Maintains the computer networks of all types of organizations, providing technical support and ensuring the whole company runs smoothly.

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

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

124.

ZHANG, NING Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer account information

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

Basic Qualification: Proficient in market research, ability to develop business strategies, experience in pharma industry, fluent in Korean language

125.

126.

127.

121.

Brief Job Description: Responsible for Leading a Multi Disciplinary Team of Engineers on the detam

128.

122.

Brief Job Description: Manage completion of a wastewater treatment plant and coordinate with French headquarters.

130.

Brief Job Description: Information technology specialists, provide support for IT departments and end users in a number of organizations and industries.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

TRAN TUAN ANH IT Support Specialist

131.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

VU THI HONG NHUNG IT Support Specialist

132.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

YOONG MEI FONG IT Support Specialist

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

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

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

TOP ACCESS INFINITY INC. 27th Floor The Curve Building, 32nd Street Bgc, Fort Bonifacio, City Of Taguig

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

HU, FAN English - Mandarin Speaking - Business Project Associate 134.

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

Brief Job Description: Handle service support calls, emails, and chats related to inquiry from clients and/or customers through Mandarin to English translation OU, GE English - Mandarin Speaking After Sales Technical Support

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

Basic Qualification: Through extensive and fluently in mandarin to English translation

135.

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

TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg., 2153 Don Chino Roces Ave., Pio Del Pilar, City Of Makati

Basic Qualification: Can speak read and type Mandarin

136.

Basic Qualification: Job qualification French speaking project manager with experience on at least 3 international large projects in construction of water treatment plants (plant treatment capacity over 50,000 m3/day)

Basic Qualification: 18-50 y/o, good organizational skills, excellent mandarin verbal communication skills Salary Range: Php 30,000 - Php 59,999

TANZILA TRADING INC. U-29 3/f Bac., Bagong Milenyo F.b. Harrison St., Brgy. 076, Pasay City

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

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

Basic Qualification: Proficient in writing, reading and speaking in both English and Bahasa/ Thai/Chinese/Vietnamese/ Malay/Russian Salary Range: Php 30,000 - Php 59,999

XCEED CUSTOMER CARE SOLUTIONS LIMITED 14/f Yuchengco Tower, Rcbc Plaza Ayala Ave., Bel-air, City Of Makati

Basic Qualification: Design of twin track elevated railways Salary Range: Php 500,000 and above

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

LIANG, JIAQUAN Chinese Language Customer Service Representative

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

SUNIWAY GROUP OF COMPANIES INC. 17th Flr Sm Aura Office Tower, 26th Cor. Mckinley Parkway, Bonifacio Global City, Fort Bonifacio, City Of Taguig

123.

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

SEE WEI CHOON IT Support Specialist

133.

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

ZHU, SHUNFU Mandarin Speaking IT Specialist

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

MIU UNG HOA DANG IT Support Specialist

ARMAZIU, RADU-ANDREI Chief Operating Officer (coo) Team Leader 137.

SUEZ INTERNATIONAL PHILIPPINE BRANCH Unit Lz-2 19f Tower 1 Highstreet South Corporate Plaza, 9th Ave. Cor. 26th St., Fort Bonifacio, City Of Taguig

NGO, VAN Y Project Manager

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

LE THI LANH IT Support Specialist

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

Basic Qualification: Has Knowledge in computer applications

Brief Job Description: Responsible for providing quality it support of enterprise systems throughout the Chinese clientele.

LE THI HA IT Support Specialist

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

Basic Qualification: Has Knowledge in computer applications

Brief Job Description: Provide piping design and steam engineering services

DOAN HUE NHI IT Support Specialist

129.

Basic Qualification: Master’s degree in Economics, Worked as an Administrative Manager, Strong leadership qualities, highly organized, Strong work ethic, Meticulous attention to detail

Basic Qualification: Must be elected and appointed by the company

CHATTERJEE, SHAYANTAN KR Service Consultant/treasurer

TIANYU TECHNOLOGY INC. 14/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati 15/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati 16/f Socialdesk Tower, H.v. Dela Costa St., Bel-air, City Of Makati

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

Basic Qualification: Can Train, coach, & certify site leadership team and line teams on Open+ methodology and tools

Basic Qualification: Excellent communication, interpersonal and listening skills, the capability to explain complex information simply and clearly, the ability to network and establish relationships with clients, negotiation and influencing skills as well as determination and tenacity, fluency in English and mandarin language is a must.

THERMAX ENERGY & ENVIRONMENT PHILIPPINES CORPORATION 40/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino, Bel-air, City Of Makati

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

SMEC PHILIPPINES, INC. Units 905/906/907 The Orient Square Bldg., F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig SWIFT, MARK JOHN Principal Engineer Manager

Brief Job Description: A commendable sales performance specializing in Financial Services and in Corporate Banking or Wealth Management/Financial Planning Services to high net worth clients. Fluency in English and Mandarin language is a must.

QUALIFICATION AND SALARY RANGE

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, City Of Makati

NANTAI TECHNOLOGY SOLUTIONS INCORPORATED 3rd Floor Net One Center Building, 26th Street Corner 3rd Ave., Fort Bonifacio, City Of Taguig Basic Qualification: With bachelor’s Degree in Computer Science or any related course with a minimum of 1 year IT experience and able to speak and write in MANDARIN.

LIU, XIAOTING Financial Services Consultant

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

120.

Basic Qualification: Strong leadership skills that include being a self starter

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

SA RIVENDELL GLOBAL SUPPORT, INC. 9-11 Flr., The Biopolis Bldg., Macapagal Blvd., Brgy. 076, Pasay City

Basic Qualification: Able to speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manages the daily operations of a business. Ensure strategic goals are met by setting operational policies, overseeing, and maintaining corporate budgeting processes, managing employees, and preparing a corporate and annual business plan ensuring that the Company attains its objectives as cost-effectively and efficiently as possible.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Basic Qualification: Fluent in Mandarin and English

PROSWIFT EXPRESS CORP. Unit 1101 Pearl Of The Orient, 1240 Roxas Blvd., Ermita, 072, Bgy. 667, Ermita, City Of Manila

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

PMFTC INC. Plant C & D, Champaca Ii, Fortune, City Of Marikina

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

No.

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

PHIL. SHINPOONG PHARMA INC. Unit 2314 Medical Plaza, San Miguel Avenue, Ortigas Center, City Of Pasig

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

QUALIFICATION AND SALARY RANGE

ORANGE SPACE INTERIOR DESIGN PRODUCTS CORP. Shop 8 G/f Aseana 3, Macapagal Boulevard Corner Aseana Ave., Baclaran, City Of Parañaque

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HAN, MINGMING Chinese Customer Service

A15

ESTABLISHMENT / ADDRESS

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

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

MP-MEGAPRO PLUS MARKETING CORP. Unit 3a Broadland Bldg., 4 Mayuga St., Tambo, City Of Parañaque CHUNG, SEUNG HO Assistant Supervisor

No.

Wednesday, September 29, 2021

Brief Job Description: Drive company results from both an operational and financial perspective working closely with the CFO, VP and other team members.

Basic Qualification: College graduate, has strong leadership and strategic vision to the organization, with more than 5 years of experience in the related field Salary Range: Php 500,000 and above

ZONAC AND SHIBATA SERVICES INC. 4/f Pbcom Tower, 6795 Ayala Ave. Cor. Rufino St., Bel-air, City Of Makati HUANG, MINGZHAO Chinese Speaking It Officer 138.

Brief Job Description: Responsible for the smooth running of computer systems, routers, switches, internet and ensure user get maximum benefits from them

Basic Qualification: Proficiency in English, Mandarin and other Multi Lingual language Salary Range: Php 30,000 - Php 59,999 *Date Generated: Sep 28, 2021

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

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, September 29, 2021

B1

Coca-Cola to stop making powdered drinks in PHL

T

By VG Cabuag

@villygc

he local unit of Coca-Cola Co. is discontinuing the production of its powdered juice drink Eight O’Clock, a brand that it inherited during a series of management changes in the late 2000s, as the company wants to stop using sachets by next year.

As a result, Gareth McGeown, president and CEO of Coca-Cola Bottlers Philippines Inc., said it will shut down its manufacturing plant in Imus, which employs about 109 people. The company will turn the plant into a distribution center.

“We have made a bold decision to completely exit from our sachet business by 2022. Our reason for these is that we have in a long, long time faced significant challenges in plastics recovery in straws and sachets.

Rest assured the exit hasn’t been an easy decision for many reasons but

we believe as a business it is the right thing to make,” McGeown said during the company’s “World Without Waste” briefing.

The Coca-Cola Imus plant in Cavite was inaugurated in 1995, at a time when the company’s Navotas plant produced powdered juice drinks. In 2007, the powdered juice business was consolidated and transferred to Imus.

At the moment, two manufacturing lines produce Eight O’Clock, a brand that has been lagging behind its rivals in recent years.

The bottler inherited the Eight O’Clock brand, which was acquired by San Miguel Corp. in 2000 from Sugarland Multi-Foods Corp., which then accounted for about 60 percent of the local powdered juice drink market.

San Miguel bottled and distributed Coca-Cola in the Philippines from the 1920s until 2007, when Atlanta-based The Coca-Cola Co. acquired the conglomerate’s entire stake in the bottling operations in the country.

McGeown said the company will have to retrain the 109 people that will be affected by the shutdown of the manufacturing plant and assign them somewhere else, such as its plants in Sta. Rosa and in Canlubang, both in Laguna.

“We have a commitment not to leave anyone behind in our pursuit of sustainability. We have a redeployment plan in place for all of our associates assigned to new sites. We are confident that this decision is the right step as we move to 2030 [and] a world without waste,” he said.

“We have lots of opportunities to move people and that’s what we have been doing. And the journey will be long for the next 12 months. No one will be left behind, no one will be left

without a job and our Imus facility will transition from manufacturing center into a distribution center of that part of Cavite.”

Antonio del Rosario, Coca-Cola Philippines president and vice president for franchise operations for Coca-Cola ASEAN and South PacificEast Region, said the Eight O’Clock brand was in the company’s portfolio for a long time but it has to go as it does not fit with the company’s waste program. “We really felt this was the right thing to do. We want to make sure that the package we put out in the market is recyclable. Sachets don’t fit in that space. It’s a bold decision from us that that involves sunsetting Eight O’Clock,” he said.

The company has pledged to use more recycled content in its lineup in the Philippines starting 2022 and beyond, as it expands the number of products that use 100 percent recycled PET in its packaging.

With these decisions, the company will be fast-tracking the achievement of its commitment to make 100 percent of its packaging recyclable by 2025.

At the moment, all the company’s bottles and cans are recyclable by design.

LRWC to launch sports betting platform

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isted resorts and gaming site operator Leisure and Resorts World Corp. (LRWC) on Tuesday said its unit will launch its own sports betting platform just weeks after securing the gaming regulator’s approval.

In its disclosure, LRWC’s unit Total Gamezone Xtreme Inc. said it will start the full operation of its betting platform called Gsports, wherein gamblers can place wagers on a variety of betting markets across professional, collegiate and other sports leagues via retail or online.

The said LRWC unit recently secured accreditation from the Philippine Amusement and Gaming Corp.

(Pagcor) as an official sports betting system service provider.

The online Gsports sportsbook, allows gamblers to use a gadget of their choice like tablet, laptop or smartphones to quickly start placing wagers. Sports fans can place bets on any competition and live betting from across the world 24/7, ranging from well-known sports like football, tennis, basketball, volleyball, to popular leagues and even to niche markets.

“Gsports also offers competitive and better odds in different markets which give higher chances of bigger profit for the sports betting fan,” the company said.

“Gsports provides a secure and

Lego profit doubles in first half

‘Well-designed infra projects will decongest cities, make trips faster’

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ego A/S’s first half-profit more than doubled as consumers turned to its wellknown building blocks to entertain stuck-at-home children.

Net income rose 140 percent to 6.3 billion kroner ($990 million), the toymaker, which is based in western Denmark, said on Wednesday. Revenue at the closely held company advanced 46 percent.

Families across the globe have increased spending on consumer goods while staying at home and Lego emerged last year as a pandemic winner, booking record profits and sales. On Wednesday, Lego said its performance received an additional boost from fewer Covid-related restrictions compared with 2020 as factories could operate without interruptions and most stores have reopened.

“As we look ahead to the second half of 2021, we continue to see strong demand for our products,” Chief Executive Officer Niels B. Christiansen said in a statement.

“Longer-term, we expect top-line growth to stabilize to more sustainable levels as people return to pre-pandemic spending patterns.” Bloomberg News

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a n Mig uel Cor p. (SMC) President Ramon S. Ang said well-designed infrastructure will help decongest cities, make trips faster and more economical and help reduce pollution caused by hours of stand-still traffic all over Metro Manila.

Ang said traffic and pollution in Metro Manila will worsen if “efficient, multi-purpose and futureready infrastructure” is not built.

"It is not expressways that induce people to buy more cars. It is poor or insufficient public transportation, pollution, and even personal progress of people. The number of vehicles will continue to rise with or without PAREX [Pasig River Expressway project].

Traffic and pollution will worsen if we do not build efficient, multipurpose, future-ready infrastructure such as the PAREX," he said in a statement.

“Providing better, more efficient alternative public transport in the form of PAREX’s BRT [bus rapid transit] and other ongoing mass rail projects, will also lessen the use of cars. PAREX will also not be exclusive to vehicles. It will incorporate bicycle lanes and pedestrian areas, to provide a safer environment for people to use

safe betting website by using the latest encryption technologies to protect the sensitive information of its customers. Fairness and quality playing experience are guaranteed as all its betting products and services are audited and regulated by Pagcor.”

LRWC’s electronic gaming system and remote gaming platform was initially launched on July 15.

The company posted an attributable net loss of P358.3 million in the first half, narrower than the previous year’s loss of P500.9 million. The improvement is mainly due to the significant decline in costs which was partially offset by the decline in gross gaming revenue.

Gross profit fell by more than a

alternative ways of getting from one place to another.”

Ang also said SMC and Palafox Associates and Palafox Architecture Group Inc. have had initial discussions for a potential consulting agreement for the PAREX. “Architect Palafox is one of the master-planners of one of our major projects and in our regular meetings with him, he has expressed strong belief in the need to increase accessibility between the eastern and western corridors of Metro Manila as part of a broader strategy towards decongesting Metro Manila, and easing the many negative impacts of traffic,” he said.

“There is no formal engagement with Arch Palafox, but we have been in discussion, something that we have been very clear from the start—that we want him to help us do PAREX right.”

Last week, SMC announced that it signed a supplemental toll operations agreement with the Department of Transportation and the Department of Public Works and Highways for the construction of PAREX. The supplemental agreement gives SMC a 30-year franchise to build and operate the 19.4-kilometer Parex along the Pasig River

third to P530.27 million from last year’s P834.44 million mainly due to the reduction of gaming revenue from all segments.

“All casino and retail sites were closed from mid-March 2020. After submission of strategic return to work guidelines and safety operation measures, we were able to open 10 retail sites with 50 percent occupancy by the end of June and open 3 sites of Blue Chip by the middle of June,” the company said.

Gross revenues from the casino business registered a decline of 62 percent to P294.04 million from last year’s P781.7 million as its income from junket operations fell by 100 percent. VG Cabuag

banks within 36 months, connecting the eastern and western parts of the metropolis.

SMC will shoulder the P95-billion cost to build Parex, with no taxpayer or government money used.

Parex entails the construction of a 19.40-kilometer, six-lane elevated expressway along the banks of the river. This requires the river bed to be dredged and cleared of decades of debris and garbage, to attain its optimum depth and ensure the constant flow of water.

The expressway will start from Radial Road 10 (R10) in the City of Manila and end at a connection to the Southeast Metro Manila Expressway (SEMME), otherwise known as Circumferential Road 6 (C6). It is seen to reduce travel time from Manila to Rizal to just 15 minutes.

From R10, or the port area, it will have entry and exit points at the University Belt area, San Juan, Buendia, Mandaluyong, Makati, Rockwell, Edsa, Pioneer St., Bonifacio Global City, C5, before terminating at C6.

It is aims to provide an alternative and faster access to the country’s largest business districts— Makati, Ortigas, and Bonifacio Global City.

AboitizPower, JERA to collaborate on overseas projects AboitizPower’s 59-megawatt peak solar power facility in San Carlos City, Negros Occidental.

Contributed Photo

By Lenie Lectura @llectura

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boitiz Power Corp. will explore the possibility of investing in wind projects in countries where its new partner, JERA Asia Pte Ltd.—Japan’s liquefied natural gas (LNG) giant—is already present.

JERA is investing $1.58 billion in AboitizPower in exchange for a 27-percent stake in the power firm.

They are expected to explore collaboration in many power projects in line with AboitizPower’s goal of achieving a 50:50 clean energy and thermal capacity mix by 2030.

Aboitiz Power is earmarking P190 billion in the next 10 years to build an additional 3,700 megawatts to achieve the goal.

“Certainly, offshore wind is in our eyesight, with certain areas for possible development in the Philippines. But we’re also not just limiting ourselves to JERA as a partner in this field. We have a number of developers also asking, or looking at Aboitiz to co-develop.

But yes, it opens up more opportunities for AboitizPower to explore offshore wind with JERA, especially in countries where they are actually operating at the moment,” said AboitizPower President Emmanuel V. Rubio during an online news briefing about JERA’s investment in Aboitiz Group.

JERA, a joint venture between Tokyo Electric Power Co. Holdings Inc. and Chubu Electric Power Co. Inc., intends to eliminate CO2 emissions from its domestic and overseas businesses by 2050.

The company’s goal, Rubio said, is in line with AboitizPower’s plans to deliver more renewable energy in its portfolio. “What I’m really looking forward to is the technology. JERA is exploring, as regards to eliminating CO2 emissions, blue or green hydrogen, with hydrogen touted as the fuel of the future. It’s exciting for AboitizPower to have access to this technology.”

Apart from wind and hydrogen power, AboitizPower is also exploring synergies with JERA in the LNG business. The power firm earlier revealed plans to participate in the next competitive bidding of the power requirements of the Manila Electric Co. (Meralco), offering LNG as the fuel source.

“We’re still in the very early stages of our LNG feasibility study. We’ve identified two sites as we have discussed in the past. We’re not there yet with the details but very excited with the potential of this joint venture and what we can actually tap as part of JERA’s expertise and experience, when being one of the largest LNG players.

What we’re looking at is for LNG to be our option in the 2030 CSP [Competitive Selection Process] delivery. The LNG will be the option for the next CSP, which should be delivered by 2030. So, it’s still too early for any details,” said Rubio.

Upon completion of the transaction, JERA will own a 27-percent stake in AboitizPower while Aboitiz Equity Ventures, Inc. will own a controlling stake of 52 percent. Rubio said there will be no change in management resulting from this partnership.

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Companies BusinessMirror

Wednesday, September 29, 2021

PSE STOCK QUOTATIONS

September 28, 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 SUN LIFE

44 113.5 80.45 24.1 8.99 43.9 9.58 20.5 55.35 18.84 105.9 84.6 0.89 4.3 3.19 1.18 0.325 905 0.66 228 2,450

44.2 113.6 80.6 24.15 9 44 9.6 20.55 56.4 19 106 85 0.94 4.32 3.33 1.23 0.345 974.5 0.67 230 2,500

44.1 113 80.6 24 9.04 44.6 9.6 21.3 56.4 19.78 105 85.4 0.89 4.33 3.19 1.23 0.33 930 0.64 225.2 2,450

44.1 114 81.15 24.1 9.06 45 9.6 21.3 56.4 19.78 106.8 85.4 0.9 4.33 3.28 1.23 0.345 940 0.66 230 2,450

44.05 112.8 80.4 24 8.99 43.9 9.6 20.55 56.4 18.8 104.8 84.55 0.89 4.28 3.19 1.23 0.32 900 0.64 225 2,450

44.05 113.6 80.45 24.1 8.99 43.9 9.6 20.55 56.4 18.84 106 85 0.9 4.3 3.28 1.23 0.345 905 0.66 228 2,450

1,700 1,105,770 1,408,310 56,400 213,800 5,015,600 2,400 388,600 300 120,100 549,010 164,730 237,000 56,000 53,000 16,000 710,000 1,420 35,000 550 85

74,965 125,405,421 113,459,402.50 1,356,085 1,926,334 222,099,380 23,040 8,043,980 16,920 2,275,982 58,142,529 14,002,117.50 213,030 240,820 169,250 19,680 229,550 1,285,640 23,040 125,394 208,250

-6,673,730 -18,064,852.50 -2,410 -18,013.00 -61,058,945 -447,465 -29,190 -28,005,357 7,638,873.50 9,000 6,780 208,250

INDUSTRIAL AC ENERGY 11.7 11.72 12.1 12.1 11.64 11.7 46,865,900 554,020,498 1.16 1.17 1.15 1.17 1.15 1.16 149,000 171,570 ALSONS CONS 30.9 30.95 33.85 33.85 30.9 30.9 18,835,400 608,671,500 ABOITIZ POWER 0.53 0.54 0.55 0.55 0.52 0.53 6,550,000 3,459,500 BASIC ENERGY FIRST GEN 32.1 32.35 33 33.2 32 32.1 2,099,200 69,071,760 FIRST PHIL HLDG 74.1 74.2 74.05 74.15 74.05 74.1 71,200 5,276,469.50 MERALCO 296 296.2 296.2 296.2 292.4 296 180,900 53,470,134 18.48 18.5 18.4 18.48 18.1 18.48 1,769,200 32,461,326 MANILA WATER 3.06 3.08 3.08 3.09 3.04 3.08 1,099,000 3,371,500 PETRON 4 4.05 4.06 4.06 4.06 4.06 2,000 8,120 PETROENERGY PHX PETROLEUM 11.7 12 12 12 11.7 12 47,400 566,658 19.36 19.38 19.56 19.56 19.12 19.36 271,200 5,265,576 PILIPINAS SHELL SPC POWER 14.72 14.74 14.7 14.8 14.6 14.72 334,100 4,909,848 4.92 5.04 5 5.05 4.9 5.04 292,500 1,466,358 AGRINURTURE 2.7 2.72 2.7 2.72 2.66 2.72 373,000 1,007,920 AXELUM 63.25 65.35 65.35 65.35 65.35 65.35 20 1,307 BOGO MEDELLIN CNTRL AZUCARERA 13.5 13.54 13.54 13.54 13.54 13.54 13,700 185,498 27.65 28 29.2 29.2 27 28 1,839,500 51,200,870 CENTURY FOOD DEL MONTE 14.9 14.94 14.8 15.18 14.8 14.9 230,500 3,447,332 7.63 7.64 7.8 7.8 7.63 7.63 2,233,900 17,142,983 DNL INDUS 17.66 17.68 17.88 18 17.6 17.68 2,367,200 41,949,940 EMPERADOR 74.15 74.2 77.1 77.15 74 74.2 271,320 20,409,556.50 SMC FOODANDBEV ALLIANCE SELECT 0.62 0.65 0.63 0.63 0.62 0.62 501,000 311,120 1.26 1.29 1.26 1.3 1.25 1.29 11,834,000 15,112,370 FRUITAS HLDG GINEBRA 110 111 105 110 104.9 110 172,030 18,662,398 197 198.2 197.5 200.4 197 197 480,510 95,004,930 JOLLIBEE 6.25 6.3 6.3 6.36 6.2 6.3 29,100 183,189 MAXS GROUP 0.183 0.19 0.19 0.19 0.184 0.19 3,240,000 611,410 MG HLDG MONDE NISSIN 18.62 18.66 19.3 19.34 18.62 18.62 115,444,500 2,183,472,476 SHAKEYS PIZZA 7.9 7.97 7.85 7.97 7.84 7.97 70,800 558,478 ROXAS AND CO 0.76 0.77 0.74 0.79 0.72 0.77 9,014,000 6,764,530 4.55 4.64 4.64 4.64 4.64 4.64 107,000 496,480 RFM CORP 0.113 0.115 0.115 0.115 0.112 0.113 7,020,000 793,920 SWIFT FOODS 128.1 128.3 130.8 132.2 127.7 128.1 2,522,820 324,145,307 UNIV ROBINA VITARICH 0.77 0.79 0.77 0.79 0.76 0.79 278,000 217,170 2.4 2.45 2.44 2.45 2.44 2.45 44,000 107,600 VICTORIAS CONCRETE A 48.05 51.65 48.05 48.05 48.05 48.05 200 9,610 51.45 58.95 51.35 53 51.2 53 2,060 107,927 CONCRETE B 1.28 1.29 1.26 1.29 1.25 1.28 3,803,000 4,813,880 CEMEX HLDG 15.02 15.08 15.1 15.1 15 15.02 67,900 1,021,476 EAGLE CEMENT EEI CORP 7.2 7.3 7.13 7.2 7.13 7.2 23,500 168,007 6.21 6.25 6.28 6.3 6.2 6.21 463,500 2,883,008 HOLCIM MEGAWIDE 6.02 6.18 6.2 6.2 6.02 6.02 644,500 3,906,698 14.36 14.4 14.4 14.4 14.4 14.4 32,000 460,800 PHINMA 0.91 0.95 0.91 0.95 0.89 0.91 292,000 264,160 TKC METALS 1.13 1.16 1.17 1.17 1.13 1.14 3,724,000 4,281,750 VULCAN INDL CROWN ASIA 1.69 1.71 1.69 1.69 1.68 1.69 259,000 437,600 1.74 1.79 1.87 1.87 1.75 1.79 147,000 269,590 EUROMED 4.22 4.56 4.34 4.34 4.34 4.34 44,000 190,960 LMG CORP 5.4 5.45 5.4 5.45 5.4 5.4 121,000 653,900 PRYCE CORP 21.15 22.55 22.55 22.55 21.1 21.2 505,700 11,395,945 CONCEPCION 2.18 2.19 2.24 2.28 2.16 2.18 5,628,000 12,367,450 GREENERGY INTEGRATED MICR 7.82 7.9 8.04 8.07 7.5 7.9 1,398,100 11,036,461 IONICS 0.86 0.88 0.88 0.88 0.86 0.88 19,000 16,640 5.86 5.95 5.97 5.97 5.86 5.86 6,400 37,804 PANASONIC 1.15 1.16 1.16 1.16 1.14 1.15 319,000 366,290 SFA SEMICON 4.35 4.36 4.4 4.4 4.34 4.35 2,856,000 12,449,880 CIRTEK HLDG

-54,186,108 -31,601,840 -251,000 12,598,310 -3,114,742.00 -3,518,940 14,560.00 289,310 -385,830 -74,536 -912,657 782,550 -19,957,415 -5,960 -3,404,105 353,114 1,344,525.50 -220,710 -497,206 -51,396,315 191,740 -832,080,050 370,311 -1,616,280 -468,640.00 -216,330,149 107,600 -114,320 -234,139 -883,062 14,400 -101,170 106,000 -3,978,010 -3,491,836 -113,160

HOLDING & FRIMS ABACORE CAPITAL 1.12 1.13 1.12 1.14 1.09 1.13 20,137,000 22,563,860 5.22 5.98 5.2 5.22 5.2 5.22 11,000 57,400 ASIABEST GROUP 792 805 817.5 818.5 792 792 301,700 242,802,600 AYALA CORP 47.5 47.8 54.05 54.05 47.5 47.5 3,859,640 188,684,339.50 ABOITIZ EQUITY ALLIANCE GLOBAL 10 10.06 10.2 10.2 9.85 10 5,422,200 54,090,958 AYALA LAND LOG 5.5 5.52 5.81 5.85 5.5 5.5 9,280,600 51,915,651 ANSCOR 6.86 7.18 7.2 7.2 7.2 7.2 8,800 63,360 0.92 0.94 0.92 0.94 0.92 0.92 395,000 365,950 ANGLO PHIL HLDG 0.51 0.52 0.51 0.53 0.51 0.52 640,000 332,730 ATN HLDG A 5.03 5.04 5.07 5.07 5 5.03 397,700 1,991,858 COSCO CAPITAL DMCI HLDG 6.84 6.86 6.92 7 6.8 6.86 11,439,300 78,534,058 FILINVEST DEV 7.58 7.78 7.57 7.58 7.57 7.58 8,600 65,186 0.295 0.3 0.295 0.31 0.29 0.31 1,020,000 305,400 FORUM PACIFIC 529 530 528.5 532 522 530 230,510 121,851,425 GT CAPITAL 3.61 4 3.61 3.7 3.61 3.7 17,000 61,640 HOUSE OF INV 63.15 63.3 64.9 65 62.6 63.15 1,492,550 94,639,344 JG SUMMIT LODESTAR 0.66 0.7 0.7 0.7 0.65 0.66 415,000 278,660 3.17 3.28 3.18 3.18 3.17 3.17 211,000 668,900 LOPEZ HLDG LT GROUP 9.86 9.9 10.04 10.08 9.72 9.9 12,623,600 124,057,780 3.72 3.73 3.75 3.75 3.72 3.73 18,694,000 69,722,620 METRO PAC INV 3.01 3.22 3.03 3.03 3 3 63,000 189,530 PACIFICA HLDG 1.79 1.83 1.86 1.86 1.78 1.83 4,298,000 7,856,930 PRIME MEDIA SOLID GROUP 1.17 1.21 1.21 1.21 1.21 1.21 69,000 83,490 965 977 978 978 955.5 977 257,750 249,852,500 SM INVESTMENTS SAN MIGUEL CORP 113.2 113.6 113.9 113.9 112.8 113.6 232,830 26,412,798 0.69 0.74 0.75 0.75 0.67 0.68 15,000 10,360 SOC RESOURCES 128.1 134.2 130 130 130 130 6,300 819,000 TOP FRONTIER 0.26 0.265 0.265 0.265 0.26 0.26 1,300,000 339,500 WELLEX INDUS ZEUS HLDG 0.191 0.196 0.19 0.19 0.19 0.19 70,000 13,300

5,911,620 -52,200 -53,935,550 -99,143,499 -7,012,885 402,805 -58,320 46,500 -219,968 -10,350,849 -29,936,005 15,000,904.50 -538,900 -22,729,753.00 -42,315,590 -14,134,670 -11,619,199 13,000 -

PROPERTY ARTHALAND CORP 0.63 0.67 0.65 0.65 0.63 0.63 2,000 1,280 33 33.35 33.75 33.75 33 33 7,418,000 246,448,010 AYALA LAND 1.03 1.05 1.08 1.08 1.08 1.08 3,000 3,240 ARANETA PROP 38.8 38.9 39 39 38.75 38.9 1,878,600 73,063,530 AREIT RT BELLE CORP 1.33 1.34 1.33 1.34 1.33 1.34 14,000 18,720 0.88 0.91 0.9 0.92 0.87 0.91 1,754,000 1,592,860 A BROWN CITYLAND DEVT 0.76 0.77 0.79 0.79 0.76 0.77 410,000 316,120 0.12 0.121 0.123 0.124 0.118 0.122 340,000 40,870 CROWN EQUITIES 6.1 6.15 6.05 6.15 6.05 6.1 4,900 29,775 CEBU HLDG 2.87 2.9 2.9 2.91 2.8 2.9 1,841,000 5,251,290 CEB LANDMASTERS CENTURY PROP 0.415 0.42 0.435 0.435 0.42 0.42 32,170,000 13,673,150 DOUBLEDRAGON 10.12 10.24 10.76 10.76 10.02 10.12 1,031,200 10,534,010 DDMP RT 1.8 1.81 1.8 1.81 1.8 1.8 7,150,000 12,890,510 6.85 6.94 6.8 6.95 6.79 6.94 171,400 1,183,032 DM WENCESLAO 0.27 0.28 0.27 0.27 0.27 0.27 130,000 35,100 EMPIRE EAST 0.365 0.37 0.395 0.405 0.365 0.365 84,830,000 32,289,650 EVER GOTESCO FILINVEST RT 7.2 7.23 7.25 7.25 7.2 7.2 3,482,600 25,131,189 FILINVEST LAND 1.1 1.11 1.1 1.11 1.09 1.1 15,155,000 16,670,520 GLOBAL ESTATE 0.92 0.97 0.96 0.96 0.93 0.93 1,967,000 1,840,790 8.84 9.26 9.08 9.26 8.65 9.26 1,147,500 10,328,547 8990 HLDG 1.15 1.16 1.17 1.17 1.15 1.15 182,000 209,590 PHIL INFRADEV 1.06 1.07 1.08 1.1 1.06 1.06 251,000 268,580 CITY AND LAND MEGAWORLD 2.8 2.81 2.83 2.84 2.81 2.81 12,488,000 35,189,850 MRC ALLIED 0.285 0.29 0.295 0.295 0.285 0.29 8,150,000 2,349,900 PHIL ESTATES 0.485 0.49 0.49 0.49 0.48 0.485 3,110,000 1,511,050 1.74 1.77 1.75 1.77 1.7 1.77 448,000 767,860 PRIMEX CORP 6.6 6.62 6.6 6.77 6.6 6.6 11,106,800 73,985,720 RL COMM RT 16.1 16.2 16 16.2 15.92 16.2 3,184,800 51,122,258 ROBINSONS LAND PHIL REALTY 0.244 0.249 0.25 0.25 0.242 0.244 1,010,000 246,530 ROCKWELL 1.5 1.53 1.5 1.5 1.5 1.5 26,000 39,000 2.61 2.65 2.6 2.65 2.6 2.65 141,000 369,160 SHANG PROP 2.77 2.89 2.8 2.9 2.76 2.89 993,000 2,801,010 STA LUCIA LAND 32.65 33.3 32.85 33.3 32.5 33.3 7,515,500 247,655,265 SM PRIME HLDG 3.65 3.77 3.66 3.77 3.65 3.77 20,000 73,550 VISTAMALLS SUNTRUST HOME 1.51 1.55 1.55 1.55 1.51 1.55 203,000 310,920 3.43 3.44 3.45 3.49 3.4 3.43 2,123,000 7,262,670 VISTA LAND

SERVICES ABS CBN 13.6 14.14 13.5 14.6 13.48 13.6 3,642,900 51,112,714 15.4 15.5 15.46 16.16 15.24 15.4 11,934,700 187,043,406 GMA NETWORK 0.405 0.435 0.415 0.44 0.405 0.435 380,000 159,650 MANILA BULLETIN 2,922 2,948 2,940 2,980 2,910 2,922 48,480 142,090,650 GLOBE TELECOM PLDT 1,675 1,677 1,680 1,685 1,638 1,677 179,785 299,542,625 APOLLO GLOBAL 0.118 0.119 0.114 0.119 0.11 0.118 897,910,000 103,666,600 CONVERGE 37.15 37.35 37.6 37.9 36.5 37.15 6,094,500 226,954,690 3.58 3.59 3.71 3.79 3.59 3.59 502,000 1,829,760 DFNN INC 7.54 7.55 7.53 7.57 7.35 7.54 8,634,200 64,380,147 DITO CME HLDG 2.03 2.1 2.02 2.02 2.02 2.02 2,000 4,040 JACKSTONES NOW CORP 1.84 1.86 1.87 1.88 1.81 1.86 2,105,000 3,883,450 TRANSPACIFIC BR 0.355 0.36 0.355 0.36 0.35 0.36 6,350,000 2,261,600 2.28 2.29 2.26 2.32 2.26 2.29 300,000 687,560 PHILWEB 8.07 8.09 8.07 8.09 8.07 8.09 3,500 28,274 2GO GROUP 13.6 14 13.8 13.8 13.6 13.6 40,800 562,280 ASIAN TERMINALS 2.19 2.2 2.28 2.28 2.17 2.2 1,143,000 2,536,290 CHELSEA CEBU AIR 39.35 39.45 40 40.1 39.1 39.35 278,100 10,996,155 INTL CONTAINER 195.1 195.2 202 204 193 195.2 2,162,540 423,737,325 LBC EXPRESS 16.5 16.6 16.5 16.5 16.5 16.5 9,500 156,750 4.28 4.3 4.3 4.4 4.23 4.28 668,000 2,868,580 MACROASIA 1.48 1.57 1.5 1.5 1.5 1.5 230,000 345,000 METROALLIANCE A 1.05 1.06 1.03 1.07 1.03 1.05 274,000 287,150 HARBOR STAR ACESITE HOTEL 1.55 1.56 1.55 1.61 1.55 1.56 59,000 92,030 0.074 0.075 0.075 0.076 0.073 0.075 43,160,000 3,206,110 BOULEVARD HLDG 2.13 2.22 2.12 2.23 2.12 2.23 16,000 34,470 DISCOVERY WORLD 11.02 12.86 11.02 11.02 11.02 11.02 100 1,102 GRAND PLAZA 0.51 0.52 0.51 0.52 0.51 0.51 390,000 198,910 WATERFRONT 6.85 7 7 7 7 7 400 2,800 IPEOPLE STI HLDG 0.355 0.36 0.36 0.36 0.36 0.36 490,000 176,400 BERJAYA 5.48 5.6 5.46 5.61 5.46 5.6 28,600 157,951 5.94 6 5.9 6 5.85 6 1,087,500 6,448,120 BLOOMBERRY 1.93 2.04 2 2.05 1.92 2.05 29,000 57,490 PACIFIC ONLINE 1.64 1.65 1.68 1.7 1.63 1.65 973,000 1,613,720 LEISURE AND RES 1.22 1.24 1.27 1.28 1.2 1.24 1,395,000 1,721,270 PH RESORTS GRP PREMIUM LEISURE 0.41 0.42 0.42 0.43 0.41 0.41 640,000 269,350 ALLHOME 8.81 8.85 8.73 8.86 8.57 8.81 528,600 4,643,704 METRO RETAIL 1.29 1.3 1.3 1.3 1.28 1.29 1,066,000 1,375,020 44 44.05 43.4 44 42.8 44 4,791,400 209,374,080 PUREGOLD 49.95 50 50.2 50.4 49.95 50 938,930 46,980,883.50 ROBINSONS RTL 86 87 87 87 86 87 2,060 178,710 PHIL SEVEN CORP SSI GROUP 1.11 1.13 1.14 1.15 1.11 1.13 1,488,000 1,684,580 WILCON DEPOT 27.5 27.6 28.6 29.45 27.4 27.5 1,484,600 41,183,295 APC GROUP 0.27 0.275 0.28 0.3 0.275 0.275 3,840,000 1,065,450 5.1 5.2 5.1 5.2 5.1 5.2 5,100 26,510 EASYCALL 487.4 498.6 488 498.6 478 498.6 5,980 2,973,860 GOLDEN MV 7.02 7.06 7.08 7.08 7.08 7.08 1,000 7,080 IPM HLDG PAXYS 2.25 2.39 2.3 2.3 2.25 2.25 130,000 296,140 0.97 0.98 1.01 1.01 0.96 0.98 23,235,000 22,881,400 PRMIERE HORIZON SBS PHIL CORP 4.5 4.59 4.59 4.59 4.59 4.59 5,000 22,950

MINING & OIL ATOK 6.8 6.87 6.62 6.93 6.62 6.8 103,700 703,375 1.4 1.41 1.4 1.41 1.4 1.4 855,000 1,197,330 APEX MINING 6.02 6.03 6.14 6.14 5.99 6.02 704,300 4,261,282 ATLAS MINING BENGUET A 4.96 5.19 4.96 5.19 4.96 5.19 28,600 143,144 4.76 5.19 4.75 4.75 4.71 4.72 30,000 141,530 BENGUET B 0.27 0.28 0.28 0.28 0.27 0.27 510,000 139,000 COAL ASIA HLDG 2.7 2.73 2.7 2.73 2.7 2.73 65,000 175,650 CENTURY PEAK 6 6.01 6.01 6.01 6.01 6.01 11,500 69,115 DIZON MINES 2.13 2.14 2.2 2.2 2.09 2.13 5,218,000 11,097,760 FERRONICKEL GEOGRACE 0.24 0.255 0.245 0.245 0.24 0.24 300,000 72,550 0.132 0.133 0.135 0.135 0.132 0.134 11,520,000 1,531,050 LEPANTO A 0.138 0.148 0.14 0.14 0.137 0.138 1,710,000 236,730 LEPANTO B 0.0097 0.0098 0.0098 0.0098 0.0097 0.0097 113,000,000 1,101,100 MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.011 900,000 9,100 MANILA MINING B 0.91 0.93 0.93 0.98 0.92 0.93 764,000 709,050 MARCVENTURES NIHAO 1.08 1.09 1.06 1.1 1.05 1.09 198,000 213,840 5.33 5.34 5.48 5.48 5.3 5.33 24,252,200 129,801,523 NICKEL ASIA OMICO CORP 0.355 0.39 0.355 0.355 0.355 0.355 150,000 53,250 0.87 0.88 0.88 0.88 0.87 0.88 115,000 101,010 ORNTL PENINSULA 5.15 5.19 5.12 5.2 5.12 5.15 401,300 2,075,532 PX MINING 18.6 18.64 19 19.28 18.56 18.6 1,672,600 31,377,964 SEMIRARA MINING UNITED PARAGON 0.0071 0.0073 0.0073 0.0073 0.0073 0.0073 7,000,000 51,100 15.02 15.18 15 15.2 15 15.1 150,500 2,271,950 ACE ENEXOR ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.011 6,600,000 68,300 0.011 0.012 0.011 0.011 0.011 0.011 2,100,000 23,100 ORNTL PETROL B 0.0099 0.01 0.0099 0.01 0.0099 0.0099 40,300,000 399,020 PHILODRILL 6.16 6.2 6.28 6.3 6.15 6.16 254,800 1,575,569 PXP ENERGY

PREFFERED HOUSE PREF B 101.1 101.9 101.7 101.9 101.7 101.9 22,740 2,315,232 100.5 101.9 100.5 100.5 100.5 100.5 3,680 369,840 HOUSE PREF A 511 519.5 511 511 511 511 1,960 1,001,560 AC PREF B1 104 108 103.5 103.5 103.5 103.5 350 36,225 ALCO PREF C AC PREF B2R 522 525 522 522 522 522 240 125,280 39.1 39.45 39.95 39.95 39.1 39.1 84,300 3,328,180 CEB PREF CPG PREF A 102.5 103.5 102.5 103.5 102.5 103.5 310 31,875 101.3 102 102.3 102.3 101.3 101.3 1,100 111,700 DD PREF 1,001 1,039 1,039 1,039 1,039 1,039 150 155,850 GTCAP PREF A 1,030 1,040 1,035 1,035 1,030 1,030 125 129,250 GTCAP PREF B MWIDE PREF 101.4 102 101.4 102 101.4 102 12,100 1,227,000 106 106.3 106.2 106.3 105.8 106.3 2,680 283,807 PNX PREF 3B 1,006 1,014 1,013 1,014 1,004 1,014 11,505 11,609,715 PNX PREF 4 1,023 1,028 1,027 1,028 1,027 1,028 2,265 2,326,235 PCOR PREF 2B 1,090 1,110 1,090 1,090 1,090 1,090 550 599,500 PCOR PREF 3A 1,142 1,155 1,145 1,145 1,142 1,142 50 57,160 PCOR PREF 3B SMC PREF 2F 79.2 79.4 79.45 79.45 79.2 79.2 7,770 615,701.50 SMC PREF 2H 76.2 77 76.3 77 76 77 2,410 184,640 SMC PREF 2I 78.8 78.95 78.8 78.8 78.8 78.8 8,500 669,800 76.25 76.3 76.7 76.7 76.25 76.25 570 43,474 SMC PREF 2J 76 76.2 76 76 76 76 770 58,520 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.8 13 13 13.7 13 13 587,300 7,727,084 14.3 14.4 14.52 15.02 14.3 14.3 1,061,200 15,539,506 GMA HLDG PDR

WARRANTS TECH WARRANT 1.45 1.49 1.5 1.51 1.44 1.45 3,411,000 5,010,980

33,163,980.00 -3,240 -54,594,650 -12,680 40,680 -10,980 -63,090 -5,500 231,980 -129,620 -168,642 156,000 -12,585,784 -214,500 -19,000 -138,350 20,500 -3,746,060 -125,150 82,400 -24,040 -8,158,730 25,386,514.00 65,780 -26,300 18,824,620 -116,600 10,809,470 49,512,850 -157,230 12,886,380 208,040 664,832 51,570 0 -13,620 -2,100,180 -31,911,361 -211,670 11,150 75,600 447,930 -16,500 170,320 16,600 1,100,551 14,300 78,335,785 12,994,083 -78,300 -96,050.00 -13,707,585 41,250 -99,190 -1,700,900 40,650 1,029,980 42,757,222 -4,400 -79,858 495,530 -34,924 39,600 -75,400 -907,630 -396,000 -45,780 - -3,891,816 -11,975,460

SMALL & MEDIUM ENTERPRISES ALTUS PROP ITALPINAS MERRYMART

17.2 1.89 3.87

17.4 1.9 3.88

EXHANGE TRADE FUNDS FIRST METRO ETF

104.7

104.8

17.2 1.94 4.01

17.24 1.94 4.01

17.2 1.88 3.82

17.2 1.89 3.88

117,700 522,000 7,211,000

2,024,482 991,510 28,148,130

-22,500 648,730

105.6 105.6 104.1 104.7 7,470 784,181 54,578

www.businessmirror.com.ph

IPOPHL ties up with FDCP to protect local film industry

T

By Tyrone Jasper C. Piad

@TyronePiad

he Intellectual Property Office of the Philippines (IPOPHL) and the Film Development Council of the Philippines (FDCP) inked a memorandum of understanding (MoU) to curb piracy in the local film industry.

In a statement on Tuesday, IPOPHL said the partnership seeks to further the protection of the local film sector’s intellectual property rights.

“As the film industry is an integral part of the Philippine creative industries, in turn, a high-value contributor to the economy, it is mission-

critical to help local cinema restart and rebuild stronger para sa isang ‘Bagong SineMula’ sa gitna man ng pandemya,” IPOPHL Director General Rowel S. Barba said.

Given that the local film industry is among the hardest hit during the pandemic, Barba said the “IPOPHL strengthens its commitment to

help the industry not only recover from the present pandemic but also prosper in the long term” with this partnership.

Both parties, based on the MoU, will team up in promoting awareness, appreciation and enforcement of copyright among members of the sector and the public.

IPOPHL and FDCP are also working to “prevent and suppress all forms of piracy of Filipino films,” according to the MoU. Apart from this, they also aim to protect the film cultural heritage of the Philippines.

According to the survey by regional group Asia Video Industry Association (AVIA) and YouGov, the Philippines has the highest piracy rates in Southeast Asia as 49 percent admitted to streaming pirated films in the 12 months preceding October 2020.

It was also noted that piracy is one

of the reasons for the decline in the revenues of the virtual 2020 Metro Manila Film Festival to P31 million from P955 million in 2019.

In April, IPOPHL signed an MoU with AVIA to eliminate piracy in the country’s creative sector, which can help the industry in driving economic recovery.

Both parties are targeting to develop mechanisms and channels for sharing relevant information that can counter piracy in a timely manner. Apart from building the expertise and technical knowledge of local authorities, IPOPHL and AVIA also want to establish piracy monitoring and rolling site blocking processes and strategies.

AVIA is a group that aims to create a sustainable business environment in the Asia Pacific region, allowing television and video companies to innovate and grow.

Activist investing makes new inroads A ctivist investing can be a lonely slog in the Middle East.

The hardball tactics deployed by Carl Icahn or Paul Singer’s Elliott Investment Management are all but unheard-of in a region where board decisions rarely meet dissent while shareholders work out their differences behind closed doors.

But the Gulf’s listed firms, at a cumulative market value of nearly $3.5 trillion, may be the next frontier for activists pushing management to make strategic or operational changes, especially as competition for foreign capital intensifies within the region and more companies go public. Shareholder campaigns could also alter the calculus for corporations after a series of recent delistings saw little in the way of pushback from investors.

One fund in the Gulf that hasn’t shied away from corporate showdowns is Sancta Capital. Drawing inspiration from Baupost Group, the Dubai-based alternative asset manager says it’s the only firm in the Middle East and North Africa that focuses on special situations investing.

“A decade ago we drove change behind closed boardrooms and in private court proceedings,” said Ahmad Alanani, chief executive officer and co-founding partner at Sancta

Capital. “Today, we see a new order emerging driven by rapid legislative reform and intense competition for capital.”

At the heart of Sancta Capital’s strategy is seeking value through “constructive dialogue” with its portfolio companies. But when necessary, it will assert its interests by “whatever means available to us,” Alanani said.

The approach has propelled the firm to a prominent role in a series of corporate debt restructurings and shareholder campaigns that have recently included a successful bid to scuttle a bond swap proposal by Emirates REIT. With $160 million in assets under management, the fund has built a track record of agitating for corporate change, and it has the performance to show for it. Since inception in 2011, Sancta Capital has generated an annualized net return of 13.5 percent through last month. Its flagship fund is up 18.6 percent net this year through August 2021.

An index of hedge funds focused on the Middle East is up 9.5 percent in the first eight months of the year, according to Hedge Fund Research Inc.

Accountability, transparency

“Activism is playing an increasingly important role in driving stakeholder value in our region, as the standards

Sanofi ends development of Covid mRNA vaccine

S

anofi doesn’t plan to pursue the development of a messenger RNA (mRNA) vaccine against Covid-19 because the shot will come too late to market.

The French pharmaceutical giant, which has lagged rivals in deploying the technology behind some of the world’s top-selling Covid shots, made the decision despite positive results in phase one and two trials.

Carrying on with the development wouldn’t address an immediate public health need, because the product would arrive too late on the market, Thomas Triomphe, head of Sanofi’s vaccine unit, said at a press conference in Paris. Sanofi instead is focusing on another vaccine based on recombinant protein technology that could be used as a booster.

The French drugmaker is developing that shot with Britain’s GlaxoSmithKline Plc using a technology already in use in the company’s seasonal flu shots. That product, which suffered months of delays, is now in

a late-stage trial and could gain clearance by the end of the year.

Sanofi said it intends to file for clearance for both booster shots and two-shot primary vaccinations at the same time. The United Kingdom and the European Union have already ordered more than 75 million booster doses, the drugmaker said.

“The question isn’t if but when we will require a booster,” Triomphe said.

The drugmaker said it will also supply Covax, the program set up to deliver Covid-19 vaccines equitably to every corner of the planet. GSK and Sanofi have previously pledged to supply Covax with 200 million doses of their shot. Sanofi shares rose 0.4 percent in early Paris trading.

Ordinarily a giant in the vaccines space, Sanofi has lagged behind upstarts BioNTech SE and Moderna Inc. in the pandemic as they raced ahead with mRNA shots that have now been injected into arms more than a billion times and generated billions in revenue. Bloomberg News

laws that allow companies to seek protection from creditors.

Looking ahead, Alanani says Sancta has “built a deep pipeline of credit and equity opportunities in the UAE and Saudi Arabia, where top-down reform is forcing companies to re-configure their business models in order to thrive and attract capital.” Bloomberg News

for accountability and transparency increase,” said Gus Chehayeb, chief investment officer and co-founder of Sancta Capital.

The slow but steady increase in activist cases may also point to a wider change in the region. The concept of filing for bankruptcy has become more acceptable and governments across the region have put in place

mutual funds

September 28, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

222.43

15.59%

-3.66%

-3.31%

-2.1%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5878

47.21%

4.83%

2.73%

20.93%

-7.51%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0601

-6.26%

-2.33%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7334 10.92%

-6.17% n.a.

-9.77%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7738 14.89%

18.44%

-1.77% n.a.

4.34%

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

-0.71%

-1.1%

2.36%

15.8%

5.058

22.36%

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

-3.36%

-5.21%

MBG Equity Investment Fund, Inc. -a

96.19

15.61%

-6.02% n.a.

-5.57%

PAMI Equity Index Fund, Inc. -a

45.7516

18.81%

-1.89%

-1.95%

-2.32%

Philam Strategic Growth Fund, Inc. -a

478.28

15.35%

-1.68%

-2.45%

-2.18%

Philequity Alpha One Fund, Inc. -a,d

1.1018

27.51% n.a. n.a.

0.41%

Philequity Dividend Yield Fund, Inc. -a

1.2462

26.44%

0.25%

-0.4%

6.68%

Philequity Fund, Inc. -a

34.9815

21.22%

-1.04%

-0.83%

0.61%

17.6% n.a. n.a.

-2.21%

Philequity MSCI Philippine Index Fund, Inc. -a

0.747

0.8928

Philequity PSE Index Fund Inc. -a

4.6989

Philippine Stock Index Fund Corp. -a

786.24

19.61%

-1.11%

-1.31%

-1.92%

Soldivo Strategic Growth Fund, Inc. -a

0.7084

18.68%

19.5%

-5.42%

-1.2%

-4.57%

-1.3%

-1.46%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6634

20.8%

-1.93%

-2.91%

-2.24%

1.09%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8973 19.16%

-1.47%

-1.49%

-2.22%

United Fund, Inc. -a

-1.75%

-0.73%

-1.47%

-0.95%

-0.83%

3.2699

18.46%

-3.79%

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

105.5988

19.63%

-1.82%

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

$1.1552

12.91%

4.24%

5%

-3.97%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8288

25.28%

11.81%

11.88%

9.33%

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

1.6832

9.89%

0.86%

-1.2%

0.87%

ATRAM Philippine Balanced Fund, Inc. -a

2.2203

9.85%

0.4%

-1.09%

-2.85%

First Metro Save and Learn Balanced Fund Inc. -a 2.6545

12.21%

1.96%

0.45%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1974 NCM Mutual Fund of the Phils., Inc. -a

1.05%

15.57% n.a. n.a.

1.9687

8.25%

2.6%

PAMI Horizon Fund, Inc. -a

3.6899

8.02%

2.04%

-0.5%

-2.64%

Philam Fund, Inc. -a

16.5187

8.21%

1.96%

-0.48%

-2.49%

Solidaritas Fund, Inc. -a

2.0642

9.43%

0.39%

-0.31%

-1.29%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5971 12.07%

-0.21%

-0.95%

0.67%

7.25% n.a. n.a.

-3.39%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9879

0.81%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.909

11.78% n.a. n.a.

-4.24%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8973

13.64% n.a. n.a.

-3.84%

Sun Life Prosperity Dynamic Fund, Inc. -a

16.55%

0.9139

-0.3%

-1.14%

-0.35%

0.08%

2.95%

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

$0.03819

-1.8%

2.92%

1.2%

PAMI Asia Balanced Fund, Inc. -b

$1.0712

4.93%

2.88%

2.67%

-2.33% -5.2%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7825 18.52%

8.99%

8.32%

5.98%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2208 8.54%

5.17%

4.35%

1.55%

0.64%

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

373.49

1.48%

3.03%

2.43%

ATRAM Corporate Bond Fund, Inc. -a

1.9293

-1.09%

1.27%

0.12%

1.53%

Cocolife Fixed Income Fund, Inc. -a

3.2422

1.28%

3.38%

4.19%

0.83%

Ekklesia Mutual Fund Inc. -a

2.2618

-1.59%

-1.13%

2.17%

1.27%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4361 -0.42%

3.18%

1.7%

-0.7%

Philam Bond Fund, Inc. -a

-3.49%

Philam Managed Income Fund, Inc. -a

4.4682

-3.38%

5.02%

1.2%

1.3182

0.58%

3.96%

2.65%

-0.23%

Philequity Peso Bond Fund, Inc. -a

3.9856

0.86%

4.76%

2.14%

-0.39%

Soldivo Bond Fund, Inc. -a

-0.84%

1.0347

0.01%

5.31%

1.61%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2093

1.06%

5.18%

2.52%

0.1%

Sun Life Prosperity GS Fund, Inc. -a

0.29%

4.44%

1.84%

-0.58%

1.7449

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

$488.23

2.21%

3.11%

2.09%

ALFM Euro Bond Fund, Inc. -a

Є220.41

1.59%

1.13%

0.76%

0.87% 0.54%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2021

-2.83%

2.35%

1.29%

-6.07%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 - 0.76%

1.72%

0.78%

-1.88%

PAMI Global Bond Fund, Inc -b

-3.89%

0.39%

-1.25%

-4.42% -1.22%

$1.0418

Philam Dollar Bond Fund, Inc. -a

$2.5089

1.08%

4.94%

1.85%

Philequity Dollar Income Fund Inc. -a

$0.0629274

2.58%

3.43%

2.07%

1.01%

0.32%

3.12%

0.69%

-1.54%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1738

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

130.78

1.29%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0554 Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3104

2.97%

2.55%

1% n.a. n.a.

1.55%

2.75%

2.55%

0.74% 0.7% 1.04%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0588

0.92%

1.57% n.a.

0.49%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3461

36.9% n.a. n.a.

19.17%

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

$0.98

5.38% n.a. n.a.

0%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

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

www.businessmirror.com.ph

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, September 29, 2021 B3

GrowSari continues to attract top talents on the back of e-commerce ascent in PHL Roderick L. Abad @rodrik_28

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Contributor

HE popularity of e-commerce in the Philippines, especially in this time of pandemic, has attracted veteran marketers and executives to throw their hats into this industry that is estimated to grow four times—from $3 billion in 2019 to $12 billion—by 2025.

Proof of which is homegrown ecommerce firm GrowSari, wherein three of its new top officers, who came from some of the biggest local and global companies, are dedicated to empower and elevate the over one million sari-sari stores registered in its ecosystem.

Backed by 18 years of experience, GrowSari Chief Growth and Marketing Officer Maimai Madrid-Punzalan was the head of marketing for Johnson & Johnson Philippines (J&J Philippines) and regional director for Baby Care in Southeast Asia for J&J. Her longest stint was at Procter & Gamble (P&G), where she served as the senior regional director for Feminine Care Asia.

At GrowSari, the marketing veteran leads a team handling demand generation and growth and brand marketing for fast moving consumer goods (FMCG) and e-services. She hopes to nurture customer growth so sari-sari store owners can reap bigger rewards.

“Over 60 percent of FMCG shopper spending happens in sari-sari stores and yet they do not enjoy the profits that wholesalers and bigger retailers have. We hope to improve the lives of the more than 1 million store owners and the families they serve through our platform,” Punzalan said.

As part of GrowSari, Sandeep Bhalla, lead advisor of the financial services team, develops the

financial services vertical of the company. He also gives advises on strategy and implementation for financial institutions and consumer practices, focusing on financial technology, risk management, digital transformation, and more.

These he draws from his more than two decades of experience in consumer financial services and management.

“Financial inclusion is a critical goal of the Philippine government.

Sari-sari stores, while an important part of the Philippine economy, have been left out of basic financial services by mainstream banks.

At GrowSari, we see us having the unique opportunity to enable financial services capabilities for the sari-sari stores and hence bring them into the mainstream of banking,” he noted.

Completing the team is Leandro Alea, who leads the operations of GrowSari. With 25 years of experience under his belt covering operations and the end-to-end supply chain practice, he is on top of manufacturing, demand planning and forecasting, inventory management, procurement services, strategic sourcing, global logistics, warehousing, fleet and transportation, and e-commerce.

“Sari-sari stores play an important role in Philippine retail and the national economy. An estimated 84 percent of Filipinos buy

Maimai Madrid-Punzalan, GrowSari’s chief growth and marketing officer

Sandeep Bhalla, GrowSari’s lead advisor for financial services

Leandro Alea, GrowSari’s operations lead

Reymund ‘ER’ Rollan, GrowSari’s co-founder and chief executive officer

goods from them, making stores a valued member of any commu-

nity. We at GrowSari are looking forward to streamline the process

so store owners can earn more and enjoy better service levels,” he said.

Since its inception, GrowSari has been already a pool of top talents with its cofounder and chief executive officer, Reymund “ER” Rollan, being also a veteran in some of the world’s biggest organizations.

These included his career in Singapore, where he held various roles at P&G, including senior manager for consumer and market knowledge. He worked at Boston Consulting Group as an expert consultant at the Center for Consumer and Customer Insight in Southeast Asia. This was followed by a career at Unilever, where he led brand development for its ice cream business in Southeast Asia and Australasia.

His vast experience in dealing with the sari-sari store distribution channel helped him build and expand the tech-enabled business-tobusiness platform company.

“GrowSari is able to empower and encourage the sari-sari store owners to reach their full potential with the wide selection of affordable products, e-businesses, and financial assistance the platform offers.

At the same, we strive to uplift the lives of store owners and the communities they serve. We want to make sure we help the entire sarisari store ecosystem, so building the right team to do that is necessary,” Rollan stressed.

Manila joins Asia’s top 30 cities for start-ups PIN, with support of JPMorgan Chase,

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he Philippine capital joins other Asian cities on the list of 30 top start-up ecosystems in this year’s Global Start-up Ecosystem Report.

In the GSER 2021, Manila ranks 30th in the regional ecosystem performance.

Manila was also named as the 10th most affordable talent in the region and 20th globally.

“The Philippine start-up ecosystem is rapidly developing with stronger government support particularly in high-growth services such as AI [artificial intelligence], Big Data, and fintech, among others,” the GSER 2021 said.

It added government policies, such as the Philippine Innovation Act and the Innovative Startup Act, have helped the country to boost the local start-up ecosystem.

According to the report, the country’s start-up ecosystem was valued at $584 million, while early

stage funding amounted to $101 million.

However, this is still far from the global average of $13.68 billion in start-up ecosystem value and $548 million in average early-stage funding.

“Despite setbacks due to Covid-19 [coronavirus disease 2019], start-ups remain a catalyst for innovation.

Leveraging on our strengths, the Philippines will continue supporting start-ups by reducing barriers to entrepreneurship, providing the right conditions, and boosting their entrepreneurial potential,” Department of Trade and Industry (DTI) Undersecretary for Competitiveness and Innovation Group Rafaelita Aldaba said.

In a news statement, the DTI said the pandemic has accelerated the growth of e-commerce in the country, with revenues estimated to reach more than $5 million this year and growing up to $8.8 million

in the next three years.

“The continued emergence of fintech and e-commerce start-ups in the Philippine market highlights the important role of the government in addressing market failures and creating an enabling environment which is crucial in developing a robust start-up ecosystem,” Aldaba added.

Meanwhile, Trade Secretary Ramon Lopez said the agency is committed to strengthening the startup ecosystem in the country.

“We are moving forward in finalizing the structure that will allow us to maximize the utilization and effectiveness of the Startup Venture Fund [SVF] that we are allocating for the development of start-up venture[s] in the country,” Lopez said.

The GSER report also highlighted that the SVF is one of the reasons why start-ups should tap opportunities in Manila. PNA

DTI-10 aid MSME shift to digital trade

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AGAYAN DE ORO CITY—The Department of Trade and Industry in Northern Mindanao (DTI-10) has introduced various interventions for nearly 2,000 micro, small, and medium enterprises (MSMEs) to mitigate the impact of the Covid-19 pandemic since last year.

Under the government’s “We Heal As One” initiative, DTI-10 focused on aiding MSME’s transition to electronic commerce through training, webinars, and virtual trade fairs.

During the CORDS X (Cabinet Officers for Regional Development and Security) podcast with Communications Secretary Martin Andanar on Saturday, DTI-10 officer in charge Director Ermedio Abang said they have assisted 1,858 MSME’s move to the digital space as of June 2021.

“When the pandemic arrived, we adjusted. We held a virtual regional trade fair wherein we exhibited our products from our MSMEs in the region. So their products can still reach their market,” Abang said.

Based on the data from the Philippine Statistics Authority, some

37,212 businesses in Region 10 have been affected by the global health crisis—135 establishments closed down, affecting 1,743 employees with the bulk of establishments coming from Cagayan de Oro City, 101; Misamis Occidental, 14; Bukidnon, seven; Misamis Oriental, seven; Iligan City, five; and Camiguin, one.

Under the Bayanihan I law, the DTI-10 also aided village-based businesses by distributing livelihood starter kits through the livelihood seeding program and provided loans to 535 owners amounting to P124.5 million under the Bayanihan Covid-19 Assistance to Restart Enterprises program.

National Economic and Development Authority (Neda) Region 10 Director Mylah Faye Cariño said that even if the regional economy contracted by 5.2 percent in 2020, the region’s per capita output still emerged as the second-highest among all the regions at P163,952, which is higher than the Philippine average of P161,137.

The Neda official sees a better Northern Mindanao despite the health crisis because of such feats, along with the growth in information and communications technology, financial services, and agriculture.

To jump-start growth and stimulate economic activities in rural areas, Cariño said the Regional Government Center was established to centralize all regional line agencies and offices.

The Region 10 Development Council likewise created the Special Balik Probinsya, Bagong Pag-asa (BP2) Committee that shall work on empowerment of local industries, food security and agricultural productivity, housing, social welfare, health, employment and human resource development, and infrastructure development.

“In terms of project implementation, the Bagong Pag-Asa Organic Village, a BP2 pilot project located in Barangay Tacub, Kauswagan, Lanao del Norte already has a physical accomplishment of 71.32 percent as of August 31, 2021,” Cariño said. PNA

empowers PWDs amid pandemic

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rior to the pandemic, persons with disabilities (PWD) already faced multiple layers of marginalization, as well as various challenges and barriers that prevented them from becoming fully engaged in society.

The spread of Covid-19, a oncein-a-lifetime pandemic, only placed further burden on PWDs and their families, and among the major problems include the rise of unemployment because of the diminishing opportunities in the job market.

Project Inclusion Network (PIN), a non-profit organization supported

by Unilab Foundation and dedicated to empowering PWDs to fully participate and contribute to their communities, recently conducted a timely and relevant study called “Moving Toward Disability-Inclusive Recovery in Employment and Livelihood in the time of Covid-19.”

The study, implemented through the support of global financial services firm JPMorgan Chase & Co., and endorsed by national government agencies—Department of Labor and Employment Bureau of Workers with Special Concerns (DOLEBWSC), Employees Compensation Commission (ECC), Department of Trade and Industry (DTI), and the National Council on Disability Affairs (NCDA)—aims to see how the pandemic affected PWDs’ access to information and services, work and entrepreneurship prospects, as well as their needs to be able to access opportunities in the new normal. PIN focused on three major methodologies, namely: key informant interviews, administration of a national survey, and conduct of focus group discussions.

From July 14 to August 14, 2021, a country-wide survey was conducted via online and through phone for individuals who had trouble accessing devices. There were 619 respondents coming from 15 regions across the country.

Based on the study, 72 percent of the employed respondents reported negative effects to their income, through no-work-no-pay arrangements, reduced working hours, and temporary and permanent lay-offs.

In terms of access to information, there is an observed lack of compli-

ance to laws requiring provision for sign language interpreters and closed captions or subtitles, in the content of video formats making it difficult for those hard of hearing and persons with visual impairment.

“We will not stop working until we reach total inclusion, until everyone is heard, valued, and considered. It is our responsibility as duty-bearers that everyone’s voices are heard,” says Atty. Ana Dione, Undersecretary of Regional Operations, Labor Standards, and Special Concerns Cluster, DOLE. Because of their limited ability to adjust, individuals who kept their jobs became more vulnerable.

According to the responses, 20 percent of the respondents work in a variety of businesses, ranging from food and beverage stalls to manufacturing companies. Moreover, the pandemic had an impact on 93 percent of PWD respondents who ran businesses, resulting in lower sales and the temporary or permanent closure of their businesses. The research team of PIN recognized the need to access capital, technical expertise, and market to support individual and group enterprises to start, earn, and grow.

Moreover, the DTI is aware of the economic challenges and needs of the PWD community. “We understand that the pandemic has further exacerbated their need for employment opportunities. For those who wish to start their business, our agency has support programs for this,” explains Director Lydia Guevarra of Resource Generation and Management Service, DTI. In terms of the key strategy to support low-income families during the early stages of the pandemic, the Social Amelioration Program (SAP) was a government initiative to equip the marginalized sectors with the means to provide for the basic needs of PWDs. The results regarding this were not encouraging. In fact, only 38 percent or 235 respondents indicate having received cash from the Special Amelioration Program, while 18 percent or 111 respondents said they did not receive any form of support due to the lack of information on how, when, and where to register for

the benefits; absence of assistance in registration, and absence of a person to accompany them to receive the benefit at a distribution site.

“The battle cry of Persons with Disabilities is to never leave anyone behind,” says Congresswoman Ma. Lourdes Arroyo from the 5th District of Negros Occidental. She stated that the National Council for Disability Affairs is preparing for the future needs of PWDs by looking into increasing the required percentage of jobs reserved for them. This was complemented by Employees Compensation Commission Executive Director Stella Banawis, who said that innovation of services, programs, and policies are now being considered for PWDs. The need to provide opportunities for PWDs, to gain new skills through formal training, to ensure inclusivity of information, and to strengthen existing policies and support programs should be priorities by the public and private sectors, they said.

“Let us always remember and keep in mind that Persons with Disabilities are able, and need to be part of society. We need to come together now, more than ever, because inclusion only thrives and lasts when communities work together, and when the work is shared by all,” says Dr. Rex Bernardo, President and Trustee of Project Inclusion Network.

With the help of the study of PIN, the voices of PWDs were heard loud and clear. Cora Clarin, a Person with Disability Affairs Officer (PDAO), stated: “We need to be consulted, we need to be heard because we are the best spokesperson for ourselves.

I know that I have an important role in ensuring that our community is not left behind.”

In a world that has become more challenging through the years, especially now that we are still in the midst of a ravaging pandemic, everyone should work hand-in-hand to find ways to work toward a more inclusive, accessible, sustainable, and barrier-free world for Persons with Disability in our society.

The full copy of the report can be read through the following links: https://bit.ly/PINStudyReport and https://bit.ly/PINStudyReport_AccessiblePDF for the accessible version.

B4

Banking&Finance BusinessMirror

Wednesday, September 29, 2021 • Editor: Dennis D. Estopace

Nine firms gunning for final digital banking license–BSP

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By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) said there are currently nine applications in the pipeline vying for the last digital banking license to be given out by the regulator.

In his keynote speech at an online seminar organized by the Management Association of the Philippines (MAP), BSP Governor Benjamin E. Diokno said the Philippine banking and payments system is growing more and more digital due largely to the restrictions ordered put in place by the Duterte administration.

Diokno revealed last Monday’s webinar that since the announcement of the closure of the application window for new digital banks in end-August, the BSP received nine applications from new players and existing banks.

Last month, the BSP announced that it w ill no longer accept

applications for digital banks in the country to closely monitor the digital banks’ performance and contribution to the country’s financial inclusion goals, impact on the banking system and level of competition.

Diokno also announced monetary authorities are limiting the digital banking license they will be giving out to seven entities for the next three years.

To date, the Monetary Board has already approved the applications of six banks: the Overseas Filipino Bank; Tonik Digital Bank Inc., UNObank Inc.; Union Digital Bank; GoTyme Bank; and, the latest being Maya Bank Inc. “Currently, with the recent approval of Maya Bank, only one digibank license remains to be contest-

ed by nine aspirants,” Diokno said.

According to the Better Than Cash Alliance study, 17 percent of the total volume of payments in the country were made digitally in the first half of 2020 compared with 10 percent in 2018.

While more and more people are embracing digital banking, the governor also warned of “unique challenges” in the emerging sector that warrant prudence.

“Data privacy concerns, money laundering, and electronic frauds are among the issues that can undermine the confidence in this policy initiative,” Diokno said.

“We therefore expect that the key stakeholders, particularly the financial institutions, to adopt adequate measures and controls to manage such risks,” he added.

BSP assures ₧20 banknote Educators hopeful tax remains legal tender rate issue settled soon

By Claudeth S. Mocon-Ciriaco @claudethmc3

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Photos show the P20 coins and banknote that the Central Bank said remain legal tenders.

Photo courtesy bANGKO SENTRAL NG PILIPINAS

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HE Bangko Sentral ng Pilipinas (BSP) assured the public that the P20 banknote remains legal tender and can still be used for day-to-day transactions nationwide.

In a public advisory issued last Tuesday, the BSP said the P20 banknote is still not phased out and can be used alongside the P20 coin for transactions anywhere in the country.

The Central Bank made the clarification after posts have been circulating on social media claiming that the P20 bill will not be accepted anymore by the end of the year. The message also urges the public to exchange the P20 bill with banks “soonest before year end.”

“The Bangko Sentral ng Pilipinas warns the public about a circulating message in group chats claiming that the P20 New Gen-

eration Currency Banknote shall be demonetized by the end of the year,” the BSP said.

“The P20 banknote remains as legal tender,” it added.

The BSP said the P20-Piso banknotes shall be gradually removed from circulation through natural attrition or until the P20 banknotes become unfit for recirculation.

In relation to this, the BSP also recently issued an advisory to banks to promote the distribution, recirculation, and mobilization of the P20 coins.

The BSP released the new P20 NGC coin on 17 December 2019.

The bi-color 20-Piso coin retains major elements of the P20 banknote. The obverse side of the coin features Manuel L. Quezon, while the reverse side shows the BSP logo, the Malacañan Palace and the Nilad plant. Bianca Cuaresma

HE country’s largest associations of private schools is seeing the light at the end of the tax rate tunnel after lawmakers approved on third and final reading Senate Bill (SB) 2407.

Anthony Jose M. Tamayo, chairman of the Coordinating Council of Private Educational Associations of the Philippines (Cocopea), expressed gratitude for the approval of SB 2407, entitled “An Act Clarifying the Income Taxation of Proprietary Educational Institutions, Amending for the Purpose Section 27 (B) of the National Internal Revenue Code of 1997, As Amended.”

Tamayo was quoted in the statement as saying that Cocopea is looking forward to the convening of the bicameral conference committee to reconcile the versions of the two Houses of Congress.

“We are confident, that owing to the solidarity of intent and objective of both Houses in strengthening the complementary role of private education in our country, the bicam members would be able to swiftly come to an agreement to an enrolled bill to be signed by the President as soon as possible,” Tamayo added.

The House of Representatives earlier approved House Bill (HB) 9913, with 203 votes, no objections or abstentions, to secure with finality the grant of preferential tax rate of 10 percent for proprietary schools, including the temporarily lowered rate of 1 percent during the pandemic, under the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. The House bill was introduced by Rep. Joey S. Salceda and co-authored

by Deputy Speaker Rufus Rodriguez, Representatives Kiko Benitez, Mark O. Go, Luis Villafuerte, Joy Tambunting and 68 other members of the House.

Tamayo, who is also the president of the Philippine Association of Colleges and Universities (Pacu), said

that with just a few days left before the congressional session breaks in October for the filing of candidacies for the 2022 national elections, “we pray that the bill be passed into law as soon as possible.”

“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 our senators and congressmen who tirelessly worked in passing this landmark legislation,” Tamayo said.

The proposed measure will make private schools qualified for a concessionary tax rate of 1 percent under the Create law or Republic Act (RA) 11534, instead of the 150-percent increase imposed by a recent regulation by the Bureau of Internal Revenue.

SB 2407 seeks to amend Section 27(B) of the National Internal Revenue Code (NIRC) of 1997 to rectify with finality the flawed interpretation of a provision under the Create Act by BIR Revenue Regulation 5-2021, which imposes a 150-percent increase in taxes on private schools.

“The wealth of discussions by our distinguished senators in the deliberation of this bill would certainly be a rich source of the true legislative intent in further guiding implementors and taxpayers moving forward,” the groups said as they thanked all sponsors of SB 2407.

Tamayo said Minority Floor Leader Sen. Franklin M. Drilon aptly described the overwhelming support on the passage of the clarificatory bill as bipartisan and an issue that crosses party lines for the sake of public interest.

Aside from Cocopea, which represents over 2,500 private educational institutions with over 300,000 school personnel, other groups that signed the statement include: the Davao Colleges and Universities Network; Association of Private, State Colleges and Universities in Region XI; Bicol Association of Private Colleges and Universities; and, the Cesafi Association of Cebu Private Schools.

Insurer posts 53 percent rise in premiums written

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NSULAR Life Assurance Co. Ltd. announced its gross premiums written (GPW) grew by about 53 percent year-on-year in the first quarter.

Insular Life President and CEO Raoul E. Littaua on Tuesday said the company’s GPW reached P3.5 billion in the first three months of this year, higher than the P2.3 billion it recorded n the same period in 2020.

Meanwhile, Littaua also said the insurance firm’s new business annual premium equivalent (Nbape) also increased by almost 42 percent

to P422.2 million in the first quarter of this year from P297.4 million a year ago.

Littaua said in an online news media briefing the growth rate of the firm’s gross premiums for January to March is higher than the life insurance industry’s 37 percent increase.

He added the firm’s Nbape increased even as the industry’s Nbape dipped by three percent.

With the Nbape figure, Littaua said their ranking improved three notches and remained in the top 10 in the life insurance industry group. He added they ranked sec-

ond in terms of net worth after the company cornered a 15.5-percent market share.

Moreover, Insular Life also placed third in terms of net income while it also took the fourth spot in terms of total assets.

Moving forward, Insular Life aims to reach more Filipinos in the next five years as well as to focus on the market of the future: Millennials and Gen Z. To help spread the benefits of insurance to more Filipinos, Littaua explained they plan to be “the industry’s only complete provider of risk

protection services: life insurance, health coverage, group insurance and non-life insurance.”

Littaua also vowed that they will continue to leverage on technology to better serve clients.

“We are in business not just to generate premiums, but more importantly, to make a difference in the lives of our fellow Filipinos amidst this pandemic,” Littaua said. “And as we mark our 111th anniversary this November, our purpose to provide a lifetime for good to our fellow Filipinos remains the same.”

Bernadette D. Nicolas

www.businessmirror.com.ph

Regulatory cues push up rates of reissued T-bonds

By Bernadette D. Nicolas @BNicolasBM

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ATES picked up in Tuesday’s auction of P35-billion reissued 10-year Treasury Bonds (T-bonds) as regulators hinted getting more active in stemming economic dampeners.

Despite the increase in rates, the Bureau of the Treasury fully awarded the T-bonds on offer as the auction ended up more than twice oversubscribed.

Total submitted bids for the tenor reached P73.59 billion. With a remaining life of nine years and nine months, the debt paper is set to mature on July 22, 2031. Its coupon rate is set at 4 percent.

The security fetched an average rate of 4.689 percent, surging by 44.3 basis points from 4.246 percent in the previous auction.

National Treasurer Rosalia V. De Leon told reporters she believes the surge in rates was influenced by both international and local developments, particularly the Bangko Sentral ng Pilipinas’ (BSP) higher inflation forecast and the US Federal Reserve’s signal it may soon taper off on its bond purchases.

“Rates moved in tandem with UST (US Treasuries) now at 1.5 with taper signals and BSP higher inflation forecast for 2021 and 2022,” De Leon told reporters in a message.

Last week, BSP said inflation is now expected to average 4.4 percent,

an upward adjustment from its previous target of 4.1 percent.

From 4 percent in July, inflation accelerated to 4.9 percent in August, the highest recorded since January 2019. With the August print, the country’s average 8-month inflation stood at 4.4 percent.

Monetary authorities also revised upwards their inflation forecast for next year from 3.1 percent to 3.3 percent. For 2023, inflation is expected to average at 3.2 percent from the earlier 3.1 percent projection.

The auction committee decided to open the tap facility last Monday for an additional P5-billion offering for the same tenor to market makers under the government securities eligible dealers program, according to the National Treasurer.

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.

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.

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.

P&A exec sees remote auditing ‘here to stay’

AN executive of P&A Grant Thornton said because lockdown measures induced mobility restrictions, remote auditing is here to stay.

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HE Covid-19 global pandemic has accelerated the shift to digitalization and changed the way the way people work, including the way auditors perform their role, an executive of one of the country’s auditing firms.

Since the start of the pandemic in 2020, audits have been going remote.

Thanks to technology, auditors can still gather and analyze evidence and perform due diligence on their clients, even mostly from the safety of their homes or in offsite locations.

And it looks like this work around is here to stay, Romualdo V. Murcia III, partner and practice leader of the audit and assurance division of P&A Grant Thornton, said.

The role of auditors has never been more important than in the context of the rising risk exposures of business and society during the pandemic, according to Murcia.

“While companies and institutions rely on auditors for crunching the numbers and issuing audit reports, we must go beyond our traditional roles by strictly adhering to quality audit standards to spark confidence and promote deeper understanding through the numbers,” he added.

Admittedly, such is easier said than done in the time of pandemic.

Prior to the pandemic, auditors would typically burn the midnight oil in the confines of their workplaces, especially during the tax filing season in April, to complete their audit reports on clients. They would perform due diligence and data gathering by visiting clients’ offices.

“With the risk of exposure to Covid-19, audit teams resorted to creative solutions to work around lockdown limitations and these have led to new methods for evidence gathering,” Murcia said.

Audit professionals have also turned to video conferencing technology not only for meetings with audit staff but also for other client interactions such as a virtual walkthrough of audit processes and verification of company data.

“Valuation of company assets such as impairment of losses, audit of receivables, and recoverability of assets poses a challenge to auditors” as these largely depend on documentation provided by clients, Murcia added.

“Sometimes these entail a long wait, as the client is also dealing with its own work-from-home challenges.”

On the other hand, doing things digitally also improves transparency. For example, he said reviews and approvals need to have digital signoffs so it is easier to keep track of accountabilities.

“Many firms now have the capability to digitize documents and transfer data electronically so it’s easier to access information now.”

However, he cautioned that incidents of fraud still cannot be prevented even with firms’ increasing reliance on technology.

“Digital will not address the moral issue,” Murcia added. “This is why auditors must always have a level of skepticism, especially when it comes to management overrides, company connivance, and authenticity of documents. This is, after all, why auditors exist.”

These and other issues affecting the audit profession will be tackled in the 21st Annual National Convention of the Association of Certified Public Accountants in Public Practice (ACPAPP) set to be held virtually from October 6 to October 8.

Murcia is overall chairman of the convention, which is themed, “Lead the Way: Recovery through Transformation and Innovation.”

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, September 29, 2021

REINVENTING THE BASICS

SHOW up in something with more zhush for those myriad Zoom meetings in Forever 21’s Reinvented Basics. These are versatile “every-wear” essentials that bring more fun and fashion to online meetings.

If you are looking for an entirely new wardrobe or just a bit of an update, now is the perfect opportunity to either cement your personal style with some new staples, or the chance to reinvent with a new wardrobe.

There are basic tees, neutral-toned crop tops, tiered midi skirt sets, knit sets, relaxed fit shorts, and sweatshorts for women; meanwhile, collar shirts and drawstring shorts are available for men. The good news is that Forever 21 (www. facebook.com/Forever21PH) offers these great fashion basics at prices that are basically a steal.

Show up in your virtual classes, zoom meetings, and socials looking all polished and comfortable with Forever 21’s Reinvented Basics collection. All these and more are available in Forever 21 stores located at SM Megamall, SM Makati, SM City Cebu, SM City North Edsa, SM Mall of Asia, SM Aura Premier, SM Lanang Premier, SM City Clark, and Robinsons Magnolia. Precautionary measures are in place to ensure a safe shopping experience for all.

You can also shop these items in the comfort of your home. Check out the brand’s new offerings at Lazada, Shopee, and ShopSM. An order-to-deliver service is also available.

PHOTO BY SMARTWORKS COWORKING ON UNSPLASH

The dangers of collaboration

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HEN two or more people work together on a project for the benefit of the organization, collaboration can become the catalyst for driving it forward. Collaborative efforts help in giving employees an overview of the entire organization, create a better appreciation for their role in the group, and encourage others to contribute their expertise for the success of the team.

But not all collaborative efforts are bound for success. There are several dangers and risks when different departments collaborate on a project.

One danger is when a group has undefined roles and responsibilities. One example is when several managers are in the group and there is no one who is willing to take the lead. Also, when the group has senior executives and they become the default leader instead of the expert who might know more on how to manage the project than the senior executives. When roles are not clearly defined, things can easily become problematic.

There is also the danger of making the decisionmaking process so complex that the group ends up not doing anything at all. In an attempt to be more collaborative, some organizations think that the best way to do it is to ask everyone’s perspectives and opinions on every decision. The danger is that people get lost in interpreting what everybody else is saying into actionable resolutions. This could lead to loss of focus and unclear directions.

And with the multitude of opinions and the sharing of information from different sources, there is also the danger of information overload.

Not everyone is well-versed in other department’s

way of working. This could frustrate some and might even prevent them from contributing meaningfully to the discussions. And then there are also departments with a monopoly on a process that might feel threatened sharing their knowledge to other departments, especially when their value to the organization is their expertise. And since collaboration entails a high degree of trust for people, information-sharing might be challenging at best.

When your team collaborates with other teams, it also means less time to spend on their individual work. So, the more collaborative projects your team is involved in, the less time they have in focusing on their deliverables for the group. As their manager, you need to balance their involvement in cross-functional projects but also ascertain they have full exposure to other departments to have a holistic understanding of the organization.

Another danger is the possibility of top performers carrying the burden of the whole team. Not everyone in a collaborative group will perform the same amount of work or be given the same responsibilities.

There will always be slackers and default members who do not significantly contribute to the team’s success. And there are members who are so driven that they do most of the work which could possibly lead to burnout. This less-than-ideal situation can be further complicated when everybody in the group is rewarded even if only a few worked on the project. Of course, since it is a group effort, the reward is typically shared to everyone regardless of contribution or effort, but this could become a cause for disengagement.

Different people also mean differences in working styles which could lead to conflict and misunderstanding. And while diversity goes a long way in increasing acceptance of different kinds of people, it may initially become an issue especially when there are personalities too strong to be tempered. Leaders of collaborative groups need to understand the different personalities in their team to understand how to allocate work and prevent clashes in personalities. When collaborative groups fail in meeting their business objectives, the whole effort is a waste of time and resources. It could even cause reputational damage to the organization, especially

when products and services are affected, or when stakeholders are involved.

To minimize these dangers, it is important to set clear leadership and clear goals to get the job done.

While there is value in listening to other perspectives and opinions, somebody has to take the lead and take responsibility for the end product of the collaborative work. This also helps the group become accountable to each other and understand that the product of their group is the product of their individual contributions.

There also need to be clear ground rules for communication and a devolution of the decisionmaking process such that action plans can be decided through accepted mechanisms—either through popular vote, expertise evaluation, or whatever mechanism the whole group deems effective in decision-making. This prevents the team from getting bogged down with bottlenecks and improves the communication of the team members to arrive at the best possible solution to issues.

It is also wise to limit the time for collaborative work. Sometimes, people belong to so many committees and groups that they spend the majority of their day in meetings. This leaves little room for individual work and to catch up, they will use their personal time to do work which can eventually lead to burnout. Sometimes, the meetings can actually just be an e-mail. A rule of thumb I learned was to add the salary per hour of the people in the meeting to know how expensive the meeting is and to decide if the meeting is worth it.

To ensure everyone is rewarded for their effort and involvement, have a clear set of rewards for group and individual contributions. It is not enough that people are rewarded as a group because some contribute more than others. While collaboration is helpful to the organization, individual effort should always be rewarded especially when they exceed expectations.

It is inevitable that departments within the organization will collaborate. It is necessary if the organization wants its people to understand other areas of its operation and how projects are interrelated and interdependent. But organizations also need to mitigate the dangers of collaboration by setting clear directions, decisive leadership, and mutually beneficial objectives. ■

More companies pledge ‘net-zero’ emissions to fight climate change, but what does that really mean?

BY AMROU AWAYSHEH Indiana University YOU’LL probably hear the term “net-zero emissions” a lot over the coming weeks as government leaders and CEOs, under pressure, talk about how they’ll reduce their countries’ or businesses’ impact on climate change. Amazon, for example, just announced that more than 200 companies have now joined its Climate Pledge, committing to reach net-zero emissions by 2040.

But what does net-zero emissions actually mean?

“Zero emissions”—without the “net” caveat— means emitting no greenhouse gases.

“Net-zero emissions” has more wiggle room. It’s like balancing a checkbook. The country or company cuts most of its emissions through efficiency and clean energy, then offsets the rest by removing carbon dioxide from the atmosphere or eliminating emissions elsewhere.

For example, trees absorb carbon dioxide from the air, so they’re often considered “negative emissions.”

The tiny Himalayan kingdom of Bhutan can claim net-zero emissions because almost all of its electricity comes from hydropower, and its forests sequester about three times more carbon than its vehicles, factories and other human activities emit.

Companies have another way to claim net-zero emissions—they can take advantage of carbon

reductions elsewhere by buying carbon credits. For example, a US company might pay to protect forests in South America and then subtract those trees’ negative emissions from its own emissions to say that its operations are “net-zero.” Other carbon credits support sustainable development projects, such as installing wind or solar power in poorer countries.

But counting on carbon credits also draws criticism, because it allows those companies to keep generating greenhouse gases. Other concerns are that some projects would happen anyway, the emissions reductions might not be permanent or even verifiable, or they might get double-counted by more than one entity. Some projects, like tree planting, can take years to pay off in emissions reductions while the companies buying forest offsets continue emitting greenhouse gases.

WHY DOES NET-ZERO EMISSIONS MATTER? GREENHOUSE gases trap heat near Earth’s surface.

When their concentrations get too high, they fuel global warming.

In 2015, countries around the world agreed to limit global warming to well under 2 degrees Celsius (3.6 F) compared with preindustrial times, with a goal of 1.5 C (2.7 F). To keep warming under 1.5 C with the least disruption, the United Nations says the world needs to be on a path to reach net-zero emissions by about 2050. To put those temperatures into perspective,

global warming today is just over 1 C (1.8 F) above preindustrial levels, and rising seas and extreme weather are already a problem.

Several countries, including the United States, have pledged to meet the goal of net-zero emissions by 2050. But when the UN analyzed each country’s commitments under the Paris Agreement in midSeptember, it found they still fall short by so much that even if every pledge is met, temperatures will rise about 2.7 C (4.86 F) this century.

HOW A COMPANY GETS TO NET-ZERO EMISSIONS TO see how a company might get to net-zero emissions, let’s imagine a hypothetical company, ChipCo, that makes, packages and distributes potato chips. ChipCo purchases electricity from a local utility to run machinery at its factory. It also has boilers to generate steam to heat the building and for some production processes. And it uses delivery trucks to transport its products to customers. Each step generates greenhouse-gas emissions.

To achieve net-zero emissions, ChipCo’s first step is to ramp up energy efficiency. Improvements in insulation and equipment can reduce the amount of energy needed or wasted. A simple example is switching out incandescent light bulbs that use 60 watts of energy with LED bulbs that give off the same brightness, yet consume only 8 watts.

The second step is to switch from fossil fuels—the leading source of human-caused greenhouse-gas emissions—to renewable energy, such as solar or wind power, that doesn’t produce greenhousegas emissions. Once the company’s electricity is renewable, using electric delivery vehicles further cuts emissions.

Homes and office buildings can also be built to netzero, or carbon-neutral, standards. In that case, the focus is on making them extremely energy-efficient and relying on heating and electricity from clean energy sources.

ChipCo’s third step is finding negative emissions.

It might be too expensive or not yet technologically possible for it to replace its steam boiler with a carbonneutral product. Instead, ChipCo might purchase carbon credits that would remove the same amount of carbon from the atmosphere that would be generated by the boiler.

Companies are increasingly under pressure from governments, activists and their customers, as well as some powerfulinvestors, to cut their emissions.

To tell if a company is taking its responsibilities seriously, look for its action plan and performance so far. A company that announces a net-zero target of 2030 can’t wait until 2029 to take action. There needs to be a consistent trajectory of improvements in energy efficiency and clean energy, not just promises and carbon offsets. THE CONVERSATION

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Kaspersky appoints new Territory Channel Manager for the Philippines

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ASPERSKY recently announced the appointment of Charleen Caban as Territory Channel Manager for the Philippines. In this role, Charleen will be responsible for continuing to develop Kaspersky's business in the country. With Bric Adam Tenorio, Pre-Sales Manager for the Philippines at Kaspersky, Charleen will report directly to Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.

“We're delighted to have Charleen in our team. Owing to her background and skill set from her extensive years in the local IT industry, she brings to us a perspective of the unique dynamics of the market. This places Charleen in a position to exemplify our brand's ongoing commitment to every stage of our channel network in the Philippines,” says Yeo. “I'm excited to be joining Kaspersky. This may be an unusual year for everyone but this remains an exciting time for the business. I'm looking forward to meeting familiar

Charleen Caban as Territory Channel Manager for the Philippines at Kaspersky and new faces and helping them grow their businesses with the support and cuttingedge solutions from Kaspersky that are designed for every industry,” says Caban.

Charleen is an IT professional with more than 13 years handling major technology accounts with telecommunications and finance companies. She finished Computer Science from the MAPUA Institute of Technology.

Kaspersky is a global cybersecurity and digital privacy company founded in 1997. Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe.

The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help 240,000 corporate clients protect what matters most to them.

Visit www.kaspersky.com.

Veterans Bank holds virtual stockholders meeting and board election for safety

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MIDST the continuing threat of the covid19 pandemic this 2021, Philippine Veterans Bank once again held its Annual Stockholders Meeting virtually in compliance with government guidelines and health protocols. This years’ meeting was attended by around 500 stockholders and their heirs.

The election of the PVB’s board of directors was also done online and after votes were tallied and verified the re-elected to sit in the Bank’s 11-member board for the new fiscal year are Chairman Roberto F. De Ocampo, OBE; Vice-Chairman Guillermo L. Parayno Jr.; Mr. Renato A. Claravall, currently the Bank’s President; Mr. Gerardo B. Anonas; Ms. Ma. Nieves R. Confesor; Ms. Judith V. Lopez; Mr. Francisco S. Magsajo Jr.; Mr. Jose A. Nuñez Jr.; Ms. Percianita G. Racho; and Mr. Cesar A. Rubio. The newly elected director to complete the 11 - PVB member board is Mr. Michael Democrito C. Mendoza, who is also a son of WWII hero, labor leader and former PVB Vice-Chairman Democrito T. Mendoza.

In his report to the Bank’s stockholders, President Claravall acknowledged the challenges brought about by the covid-19 pandemic that hit all industries across the globe.

Given the impact of the covid -19, the Bank’s lending and deposit business were adversely affected. “Coming from a stellar year in 2019, the current economic crisis we are now in gave us an opportunity to step back and modify our plans as we prepare for a post pandemic future” he said.

The Bank had to respond to the change in banking behavior, wherein the challenges in mobility brought about by the lockdowns resulted to customers shifting its financial dependency heavily in technology. To adapt, President Claravall, proudly announced that PVB have now embarked in a digital transformation with its new corporate banking system now in place and “soon

we will be able to offer online and mobile banking services to our customers from both the private and public sectors that would help them better serve their constituents” he further added.

“On the operations side, the need to protect the health and safety of our employees and clients was paramount, that is why we also launched a PVB vaccination program that would benefit not only our employees but their families and other household members as well” shared President Claravall “The lessons we learned in 2020 have made us stronger as we go into 2021 and beyond. While some are merely looking at the “new normal”, we have set our sights on a “Better Normal”.

I am confident that with our Team’s sustained dedication and hard work, our partners’ continuing support and our clients’ steadfast trust, a brighter future awaits.“ he added.

SENATOR MANNY PACQUIAO RECEIVED A BOOST IN HIS PRESIDENTIAL BID ANEW AFTER PROMDI, the national political party founded by former Cebu Governor Lito Osmeña, officially nominated him as the presidential candidate for all “promdis,” a moniker used for Filipinos living in provinces outside of Metro Manila in a kickoff ceremony at the Radisson Blu Hotel in Cebu City. Pacquiao was named as PROMDI's standard-bearer of the party after PDP Laban ( Pacquiao-Pimentel wing ) forged alliance with PROMDI party. Osmena’s son Mimo, said his father's party has chosen Pacquiao said the standard-bearer for Promdi or the Progressive Movement for the Devolution of Initiative (Promdi) because the boxing-legend-turned-senator represents the dreams and aspirations of all "promdis." Pacquiao’s nomination came a week after he also accepted his nomination as the presidential candidate of the original PDP-Laban.

PDP LABAN Spokesperson Ron Munsayac says PROMDI’s support will strengthten the Presidential bid of Sen. Pacquiao.

Sun Life expands platforms for Its digital insurance products

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UN Life of Canada (Philippines), Inc. (SLOCPI) will be making its digital insurance products more accessible through a collaboration with two e-wallet platforms, as demand for affordable personal digital life insurance continue to increase.

Sun Life’s Digital, Easy, Affordable, Life (D.E.A.L.) insurance products will be available to registered users of GCash, the number one digital mobile wallet in the country beginning October. Initial offerings include Personal Accident Armor, Life Armor, and Byahero Protect.

Meanwhile, Life Armor and the Personal Accident Armor will be available to registered users of ePera, a fast-rising digital wallet and financial technology

provider, beginning next month as well.

“For the past few years, we have been seeing the potential of digital platforms in enabling us to reach more Filipinos. This was especially evident during the pandemic, as ecommerce grew exponentially,” says Alex Narciso, President of Sun Life of Canada (Philippines), Inc. “By making our products available in GCash and ePera, we can encourage more to explore the solutions we offer, all of which can bring them financial protection especially in these uncertain times,” Sun Life’s D.E.A.L. insurance products offer affordable digital life insurance packages for different needs. These are currently available to registered users of Lazada and Moneygment.

To learn more about Sun Life’s D.E.A.L.s please check out, h t t p s : / / w w w. s u n l i f e . c o m . p h / e n / insurance/digital-insurance/

Celebrate classic Filipino songs with CCP-OP’S ‘Kung Hindi Man, a Collection of Musical Treasures’

DFA opens a satellite office for passport services at Resorts World Manila

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PRESENT during the opening of the Newport Mall Temporary Off-Site Passport Services office are from left: RWM Chief Legal Officer Atty. Walter Mactal, RWM COO Stephen Reilly, Megaworld Lifestyle Malls, DFA Assistant Secretary Senen T. Mangalile, VP for Mall Management Rene Arnobit, and DFA Passport Division Director Marie Cris Chieng.

HE Department of Foreign Affairs (DFA) partners with Resorts World Manila (RWM) to boost passport services with the Newport Mall Temporary Off-Site Passport Services (TOPS). In a bid to provide more accessible services to the public, the DFA launched TOPS to open additional passport appointment slots in various locations in Metro Manila and other regions with high service demand.

The event was led by DFA Assistant Secretary Senen T. Mangalile and attended by RWM officers: Chief Legal Officer Atty. Walter Mactal, COO Stephen Reilly, Megaworld Lifestyle Malls, and VP for Mall Management Rene Arnobit.

DFA’s satellite office is open at RWM’s Garden Wing 3F Newport Mall (across Regatta) Mondays-Fridays from 9am to 6pm. Applicants who wish to avail of passport services at TOPS offices are required to book their appointments at the official Passport Online Appointment System at passport.gov.ph, strictly no walk-ins will be accommodated.

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UNDIMAN lovers will definitely have a field day as the Cultural Center of the Philippines’ Office of the President (CCP OP), through its online outreach program Sining Sigla, brings back the beautiful Filipino music of the yesteryears through KUNG HINDI MAN, A Collection of Musical Treasures, an online series that celebrates the ideals of the Filipino Kundiman.

Written and directed by veteran thespian Dennis Marasigan, based on the original concept of CCP President and Kung Hindi Man Executive Producer Arsenio ‘Nick’ Lizaso, each episode will feature some of the most well-known and talented artists to perform songs that can range from the traditional Kundiman to the more contemporary interpretations of the genre.

Among the artists performing in the musical series are Arthur Espiritu, Cesar Montano, Gian Magdangal, Harry Santos, Lara Maigue, Mariel Ilusorio, Nerissa De Juan, iconic OPM band Orange and Lemons, who will also be sharing songs from their upcoming Kundiman-inspired album, and the world-renowned Philippine

Philharmonic Orchestra (PPO).

“It’s the right time to introduce these Kundiman to the newer generations,” says Mr. Arsenio ‘Nick’ Lizaso. “With the rise of foreign musical acts that have significantly influenced our musical industry, it's the right time for us to bring back the spotlight to our own music. And with new arrangements of these kundiman songs, I know that they will resonate, not only to the older generations, but will also to the youth of today,” Mr. Lizaso added.

The musical numbers, shot beautifully within the confines of the Cultural Center of the Philippines, will certainly provide a nostalgic feel to those who long to visit the sanctuary of Filipino arts and culture again.

KUNG HINDI MAN, A Collection of Musical Treasures started airing on September 25, at the CCP Office of the President Facebook. The succeeding episodes of this series will air every Saturday, 6PM, until December.

For updates and more information, please follow the CCP Office of the President on Facebook.

BusinessMirror

Editor: Tet Andolong

Zen and sensibility

Wednesday, September 29, 2021 B7

Dumaguete eyes global township project

Dumaguete Smart City

By Bernard L. Supetran

D Artist’s perspective of the Grand Midori Ortigas

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By Rizal Raoul S. Reyes

he Japanese are known to be sensible, simple and minimalist.

These characteristics are epitomized in their famous Zen philosophy which also promotes relaxation ways to cope with the rigors of daily living.

No wonder many designers, building and home owners adopt the Zen philosophy in their edifices and homes respectively.

Moreover, Zen also spells success as personified by multi-titled NBA Coach Phil Jackson.

Just like Jackson, Federal Land Inc. is also adopting the Zen philosophy to its Midori Grand Hotel Ortigas project. It is logical for Federal Land to bring Zen because it will not only bring success to the organization but also deliver a serene atmosphere to neutralize the hustle and bustle of the city right in the heart of Metro Manila.

World famous Tokyo-based architecture firm Tange Associates will be project’s design consultant with GF & Partners Architects as Architect-of-Record, to add local perspective to the project.

Tange Associates Chairman Paul Noritaka Tange, son of iconic Japanese architect Kenzo Tange, told participants in a recent webinar that he is carrying the torch for his late father in interpreting Japanese style into architecture.

Tange stressed the Zen style does not promote flamboyance.

“It’s not ‘me-me’ structures that want to stand out in an environ-

ment,” he said.

“We want our buildings to be part of the landscape. Subtleness and simplicity are basic to Japanese architecture. And it’s not dependent on scale—wherever you are, you feel the scale is right,” he added.

Tange and Associates made a name for integrating traditional Japanese artistry with modern perspectives. Their notable projects include Tokyo Metropolitan Government Building, Yoyogi Gymnasium, and The Grand Midori Makati. Interestingly, Kenzo Tange and Paul also designed venues of Tokyo Olympics’ swimming and diving events in the two editions of the Tokyo Olympics—1964 and 2020 respectively. Kenzo completed the Yoyogi National Stadium in 1964 while Paul designed the Tokyo Aquatics Centre for the recently held 2020 games. “The 1964 Olympic Games was a memorable event because it was the coming out of Japan after the war,”Tange pointed out.

Aside from promoting the Zen philosophy in architecture, Tange also underscored the promotion in the construction of structures.

Sustainability became an impor-

Architect Paul Noritaka Tange talks about the notable projects of his firm, Tange Associates and their collaboration with Federal Land

tant part of his advocacy when he observed that structures in the 2012 London Olympics and 2016 Rio de Janeiro Olympics became white elephants.

Being a sensible architect, Tange values the importance of going green. For him the winning formula is combining sustainability and the Japanese concept of Zen. Tange said his advocacy also aims to promote Japanese culture that hopefully will appeal to the human heart. “It wants to create space for the human being manifested by the spacious living rooms and large windows,” he said.

In the forum, Tange urged architects and architectural students to think out of the box in response to the current environment, “The pandemic made us realize we have to rethink,” Tange pointed out.

“Architecture will definitely have an impact in today’s world.

Architects have to move and allow the environment to be destroyed.

We have to adjust and contribute in this undertaking,” Tange added.

Color it green The two-tower Midori Grand Hotel Ortigas project will have

over 908 housing units and the first salvo of Federal Land in the heart of Ortigas Central Business District. Moreover, the Zen philosophy will be infused with Japanese aesthetics, technology, and innovation in the building’s architecture.

The Japanese concepts of “wabi-sabi” and “miyabi,” which focus “on the discovery of beauty in imperfections and the expression of elegance and refinement” are the things definitely needed to be experienced by residents. Midori, which means green, will definitely have a green surroundings highlighted by the color of fresh shoots, new leaves, and young plants.

Situated in a 5,090-sq-m prime property, the Grand Midori Ortigas will be generous to residents as far as designing their unit is concerned to suit their needs. It has a mix offering of studio (35.5 to 38 sq m), one bedroom (46 to 64 sq m), two bedroom (70 to 107 sq m), and three bedroom (105 to 109 sq m) variations, designed with airy and light-filled interiors as well as expansive windows.

Further, it also offers a Zeninspired indoor and outdoor amenities for social, fitness, and recreational activities. Each amenity caters to every resident’s needs. Its prime indoor amenities include a lounge area, fitness area, yoga room, game room, study lounge, conference room, children’s playroom, and a multipurpose room.

It also boasts of outdoor amenities perfect for people with an active lifestyle. These include a lap pool, Jacuzzi, children’s pool, pool lounge, children’s play area, Zen garden, and a landscaped area with lounge.

UMAGUETE City, the provincial capital of Negros Oriental, is planning to build a 174-hectare, P23billion global township, which is aimed at transforming it into a new economic powerhouse in central Philippines.

According to city mayor Felipe Antonio Remollo, the project is a public-private partnership proposal by EM Cuerpo Inc. (EMCI) which is envisioned to be completed in five years upon commencement of construction.

“The township project will transform Dumaguete into a highly urbanized city with a mi xed-use central business district equipped with earthfriendly building systems, green energy sources, and 5G modern information technologies. It will also house public facilities for health, housing, education, sports, and transportation,” said Remollo.

Dubbed as a “smart city,” the ambitious five-year project will be developed at no cost to the local government, it will have a 5G-ready underground cable network to host ICT locators, and a hybrid solar and wind power plan to generate renewable energy.

He added that the smart city will commence with two wastewater treatment facilities with a sewage treatment plant and a diversion piping system lift station for the release of cleaner water to the bay.

A wave protection system will also be installed to shield coastal barangays from surges and waves during bad weather.

Composed of two horizontal reclaimed islands 30 meters away from the shoreline, the smart city will be built on the wings of Rizal Boulevard to avoid obstructing the view from the city’s touristic bayside road and the iconic Silliman University.

The local chief executive said that the proposed development will be a legacy project which

will provide additional sources of revenues for the city government for the more efficient provision of basic social services and public infrastructure.

In line with Dumaguete being named by the Philippine Retirement Authority as among the country’s best places to retire, it will have facilities for wellness and geriatric health care.

The project proponent, EM Cuerpo Inc., is a 20-year-old Manila-based firm with an “AAAA” Contractor License from the Philippine Contractors Accreditation Board (PCAB), and has done various public and private schools, hospitals, roads, flood control, and government structures.

The company is also involved in seaport and airport projects under the administration’s Build, Build, Build program, most notably the recently concluded Clark and Bicol international airports.

Sectoral groups have expressed their support to the proposed development after a series of discussions with local officials. The groups include business-process outsourcing workers, church pastors, Muslim entrepreneurs, academic community, fisherfolk, informal sector workers, coastal barangay residents, and senior citizens.

The groups’ leaders said the planned development will create tens of thousands of jobs and income opportunities in the city and neighboring towns in Negros Oriental, Cebu, Siquijor and northern Mindanao.

Remollo concluded that the city government will adopt a “avoid, integrate, replace” framework to minimize the project’s impact on the bay’s marine ecosystem, and use new technologies to ensure its longterm sustainability.

He said that Cebu-based marine biologists from the Department of Environment and Natural Resources recently assessed Dumaguete’s aquatic resources, and its findings will be used to map the area for reclamation.

AboitizLand’s commitment to safety and good living

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HILE homes have turned into safer havens for staying protected against the ongoing pandemic, they’ve also somewhat turned into art projects.

The artists are the residents themselves, creating an enclave that doubles as an aesthetically pleasing abode and a functional workingand-living space.

For those that are still looking to be inspired by modern, functional homes, AboitizLand (www.aboitizland.com), readily delivers. As of late last year, the Ajoya communities, The Villages at Lipa, and Seafront Residences have opened their gates to urbanites seeking safer, wider open areas and bigger living spaces in less-dense locations while still enjoying the conveniences of city living. Each property features model houses so that potential and

Ajoya Cabanatuan’s three-bedroom and four-bedroom model houses will help future vecinos visualize their new relaxation and work spaces.

existing “vecinos” (or neighbors) can experience for themselves how “life is better here.”

Ajoya communities (www.ajoya.

com.ph): Ajoya Cabanatuan located in Nueva Ecija; Ajoya Capas located along MacArthur Highway in Capas, Tarlac; and Ajoya Pampanga

located in Mexico, Pampanga. Each Ajoya community also has a town plaza within it to ensure that homeowners won’t have to go too far for their family’s basic needs, even when each community is also but a few kilometers away from the respective city proper. To the homepreneurs wanting to work and earn from home, business opportunities can also thrive through Ajoya’s clustered shophouses.

The Villages at Lipa (www.thevillagesatlipa.com), The Villages at Lipa, located just an hour and a half drive south of Metro Manila within the rising township of Lima, offers a good balance of the lively city and the peaceful suburb.

Seafront Residences (www.seafrontresidences.com.ph), for fans of the laid-back seaside living or “work-from-paradise”, AboitizLand

Seafront Residences is the perfect location to work-from-paradise. Conveniently located in San Juan, Batangas, you get to enjoy breathtaking views of Tayabas Bay and Mount Banahaw from your doorstep.

offers Seafront Residences as the perfect option, conveniently located in San Juan, Batangas. One can easily go from the cozy and familiar confines of a beautifully designed home to the breathtaking views of Mount Banahaw and Tayabas Bay, thanks to this master-planned seaside community in cooperation with Florida-based DPZ CoDesign.

The AboitizLand commitment to safety

As the Covid-19 pandemic persists, future vecinos and interested buyers are reminded that all model village viewings are scheduled in advance. Everyone is also strictly advised to adhere to national health and safety protocols on site.

Reni Salvador

Sports

Another hoops league brewing

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BRAND-NEW basketball league that is “a product of necessity” will soon come off the wraps.

“We have been planning this for a long time,” said former Ateneo Blue Eagle Jai Reyes of the soon-to-open Filbasket.

“It’s a basketball league that will cater to commercial, corporate or regional teams, and aims to provide jobs to those affected by the pandemic,” Reyes told Tuesday’s online Philippine Sportswriters Association Forum that was also graced by respected basketball figure Buddy Encarnado. “We are doing this for the basketball industry.”

“The athletes are out of jobs, needing to provide for their families. Even myself, I felt how quickly our jobs were taken away from us,” said Reyes, whose group is now working on government clearance.

Filbasket will take off with 11 teams, including those from Davao, Basilan, San Juan and Pasig. There are teams with corporate roots as well, he added.

“There are no restrictions whether it’s LGU [local government unit] or corporate. We want to be inclusive and open to as many teams,” Reyes 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 webcast partner.

In the future, Filbasket may also open the doors to Asian imports or international teams.

The bottomline, according to Reyes, is to provide jobs for those in need— from players, referees and coaches to trainers and staff.

“Basically, right now we are a product of necessity. The players are out of jobs. I know the plight of the players and I see players going online to sell daing [dried fish] or hotdogs,” said the former Philippine Basketball Association team manager. “They want to provide for their families,” he said.

TNT KaTropa hoping to show Gin Kings door with one shot

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NT Tropang Giga was reclusive on the eve of its quarterfinals showdown on Tuesday with a dangerous defending champion Barangay Ginebra San Miguel in the Philippine Basketball Association Philippine Cup. The BusinessMirror tried to reach the KaTropa’s explosive rookie, Mikey Williams, but the Filipino-American courteously denied an interview.

“Management wanted me to hold off on any interviews right now until after the playoff series,” Williams said. “Got to be locked in…promise to answer all the questions needed when the series is taken care of.

Despite holding a twice-to-beat advantage against the eighth seed Gin Kings, TNT team manager Gabby Cui requested the KaTropa to keep mum on their duel with the Gin Kings, who have to beat the eliminations top seed twice to force an upset as the eighth-seeded quarterfinalist.

The game is set at 6 p.m. at the Don Honorio Ventura State University gym in Bacolor, Pampanga. But if the players were advised not to talk, head coach Chot Reyes wasn’t.

Reyes messaged BusinessMirror that they still need to play their “best” to topple the short-handed Gin Kings, who are still expected to miss Scottie Thompson (health and safety

Mastering luck

By Josef Ramos

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ULIAN MACARAEG is the last man skating for a possible berth to the Beijing 2022 Winter Olympics.

Actually young man.

Only 18, Macaraeg aims to be the first Filipino speed skater to compete in the Winter Olympics. He is hoping that his youth bounded by 10 years of experience on the rink could salvage a lone Philippine entry to the Games Beijing is hosting from February 4 to 20.

“I am really working hard to try to get that goal because it’s a dream of mine to participate in the Olympics,” Macaraeg told BusinessMirror on Tuesday.

“I have to focus on my goal and try to overcome the upcoming barriers.”

There are no barriers in the middle of the rink, only opponents who are far more experienced and jaded as Macaraeg, whose mother Irene and father Jesus trace their roots to Balagtas, Bulacan, and Villasis, Pangasinan, respectively.

The road to Beijing for Macaraeg will be through the International Skating Union (ISU) World Cup scheduled in Beijing, Nagoya, Debrecen (Hungary) and Dordrecht (The Netherlands) starting October 21 and ending on Christmas Day this year.

To qualify for the Olympics, he must land in the top 32 overall in the event that consists of distances in the 500 meters,

protocols) and Japeth Aguilar (medial collateral ligament injury). Aguilar is out for the season.

“We’re playing the defending champs coming off a big win,” Reyes said. “It will take our best for us to have a chance.”

The KaTropa were 10-1 won-lost in the eliminations, absorbing their only setback at the hands of San Miguel Beer, 67-83, last September 8. Williams played a key role and wound up with an 18.4-point average in the eliminations.

Ginebra, on the other hand, squeezed into the playoffs as the No. 8 team. The Gin Kings needed to beat the Phoenix Super LPG Fuel Masters, 95-85, in sudden death last Saturday.

With a 4-7 win-loss record, the Gin Kings also needed NorthPort’s 122-84 win over Alaska last Thursday to forge that knockout game with the Fuel Masters.

Ginebra coach Tim Cone, owner of 23 PBA titles, is ready for battle.

“We will remain shorthanded it seems, but the guys are in good spirits and ready to play. Our focus now is just preparing,” Cone said.

“We can’t worry about who’s not playing for us, we just roll with who we have and move on.”

Ginebra, for a fact, has one of the deepest bench in the league with Christian Standhardinger, Prince Caperal, Stanley Prin-

IT’S getting to be a habit. Doing it as ordinary, effortlessly, as combing one’s hair.

I refer to San Miguel Beer’s (SMB) affinity to snatching wins from the so-called jaws of defeat.

They are it again.

Three times in the ongoing Philippine Basketball Association Philippine Cup, the Beermen were uncanny escape artists—a role the guys had essayed so beautifully time and time again.

B8

| Wednesday, September 29, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

LAST YOUNG MAN STANDING

JULIAN MACARAEG, 18, is hoping to qualify for the Beijing 2022 Winter Olympics.

gle and LA Tenorio ready to explode anytime.

No. 2 seed Meralco, on the other hand, is expected to exercise its twice-to-beat advantage to the hilt against No. 7 NLEX in the first game at 3 p.m.

Blackwater, meanwhile, dealt Simon Enciso to Terrafirma for Rashawn McCarthy in a one-on-one trade.

Josef Ramos

ROOKIE Mikey Williams has been weaving big numbers for the KaTropa.

It began on July 25, when Arwind Santos—yes, the many-time closer of improbable SMB victories done stunningly, consistently, from afar—fired the winning shot in SMB’s 88-86 win over NorthPort at Ynares Center, Pasig City.

Three days later, Alex Cabagnot would suffer a torn meniscus on his left knee, getting himself sidelined for seven games.

But even without a single practice game with the Beermen, Cabagnot would play hero only last weekend.

Cabagnot, amazingly burying baskets like he was his usual old self, capped a game-high 20-point output by sinking the game winner with a tick and a half left.

His fall away jumper at the left elbow over the outstretched arms of towering Sidney Onwubere gave SMB an 88-87 squeaker over Northport—again.

That gave the Beermen a 1-0 lead over the Batang Pier in their best-of-three quarterfinals.

If the July 27 defeat had scarred the heart, the September 26 debacle had a massively devastating effect on Northport, which, before Cabagnot’s killer shot, grabbed an 87-86 lead on Robert Bolick’s improbable triple fired near the centerline logo of the DHVSU Gym in Bacolor, Pampanga.

Before humiliating Northport, SMB also nipped

1,000 meters and 1,500 meters.

“Hopefully, I am prepared during that time and just hoping for the best,” said the Queens (New York)-based Macaraeg. “They [ISU] are going to round up your performance and they will choose your best ranking to qualify.”

Macaraeg competed at the Philippines 2019 Southeast Asian Games but missed the bronze after he was disqualified for accidentally bumping into an opponent during the race. He saw action in the 2020 Winter Youth Olympic Games in Lausanne in January and finished ninth overall among 30 skaters in the 500 meters.

He has been rigidly polishing his blades since July on the same facility that the US national training team uses in Salt Lake City.

“I am extremely lucky to train with them [US team]. It’s very helpful to skate with them around my level to get even stronger,” said Macaraeg, who has Valentyn Danilovskye and Serhiy Lifyrenko as his coaches since 2017.

“What motivates me in this sport is to participate in the Olympics because for more than 10 years, I have been working extremely hard for this goal,” said the only child of the Macaraegs who migrated to the US 30 years ago.

“The Olympic qualifying will be a

gift to my parents who are working extremely hard to finance me.”

Macaraeg started as a hockey player but shifted to short track speed skating—thanks to the now retired Winter Olympics short track gold medalists Apollo Ohno of the US. “I saw him during the Vancouver Olympics in 2010 and after seeing him, I want to take up the sport,” said Macaraeg, a recent graduate at McClancy Memorial High School in East Elmhurst in Queens. “He was one of the best short track speed skaters to have ever competed.”

Also on Macaraeg’s list are brothers Shaoang Liu and Shaolin Liu, both of Chinese origin but now racing for Hungary.

Two Filipinos—Sofia Frank and Edrian Paul Celestino—missed the cut for Beijing after finishing 24th and 18th place, respectively, in the Nebelhorn Trophy 2021, an Olympic qualifier, in Oberstdorf, Germany.

Only a handful Filipinos competed at the Winter Olympics and none of them was a speed skater.

They were cousins Juan Cipriano and Ben Nanasca in Sapporo 1972, luge athlete Raymond Ocampo in Calgary 1988, alpine skier Michael Teruel in Albertville 1992 and figure skater Michael Martinez in Sochi 2014 and again Martinez and alpine skier Asa Miller in Pyeongchang 2018.

Pro sports summit gets going

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HE difficulties of playing in a bubble setup tops the agenda of the third Philippine Professional Sports Summit to be conducted by the Games and Amusements Board (GAB) starting on Wednesday, The one-day summit will be held online for the second straight year.

Joining the summit are officials of the Philippine Basketball Association (PBA), Premier Volleyball League (PVL), Philippine Football League (PFL), National Basketball League (NBL), Women’s NBL, Chooks-To-Go Pilipinas 3x3 and VisMin Cup. Representatives fron boxing, golf, chess and e-sports will also serve as guest speakers in this year’s summit.

“There will be leagues that are going to share their experiences during the pandemic,” GAB Chairman Abraham “Baham” Mitra told Tuesday’s online session of the Philippine Sportswriters Association Forum.

This year’s theme is “Professional Sports Through The Pandemic: Now and Future Directions.”

Serving as resource speakers are PBA Deputy Commissioner Eric Castro, former Philippine Basketball League Commissioner Chino Trinidad for VisMin Cup, Mark Zambrano for Chooks-To-Go Pilipinas 3x3 and Rhose Montreal in behalf of the NBL and WNBL—all basketball tournaments.

The other resource speakers are Ricky Palou (PVL), Coco Torre (PFL), Atty. Paul Elauria (Professional Chess Association of the Philippines), Mohamed Shariz (Philippine Golf Tour Inc.), Steven Uytengsu (Ironman), Marlon Marcelo (Philippine Esports Organization), Nico Kenji Nazario (e-sports), Jonmar Villaluna (e-sports player) and boxing promoters Brico Santig, JC Mananquil and Charlemagne Marban III. Boxing officials Alberto Dulalas, Romulo Marlou Neri, Atty. Danrex Tapdasan and Nicolas Banal, muay thai promoter Francis Amandy and Team Lakay chairman and head coach Mark Sangiao are also on the list.

“Policy makers will also speak during the summit, as well as players, the licensees,” Mitra added in the session presented by San Miguel Corp., Milo, Amelie Hotel, Braska Restaurant, and the Philippine Amusement and Gaming Corp.

Also invited are officials from the Commission on Higher Education, State Universities and Colleges Association, Philippine Sports Commission and provincial, city and regional sports coordinators.

Alaska on a buzzer-beating triple yet from deep left by Marcio Lassiter—from a well-timed assist by CJ Perez.

Ah, Alaska.

Did it not blow a mammoth three-game lead, allowing SMB to steal a 4-3 victory in the 2016 All-Filipino championship that rewrote history?

Before that feat, no team has ever rallied from 0-3 to win a best-of-seven series 4-3—not even in America’s National Basketball Association.

Beermen coach Leo Austria, street-smart that he is as he is not really that bookish, has indeed made life hellish for his peers all these years. For, while luck happens basically on its own, not to Austria. He has mastered luck—seemingly.

THAT’S IT Yuka Saso, the Fil-Japanese US Open champ in June, placed tied for fourth on Sunday at the Walmart Open golf in Arkansas, USA. She drained two eagles in a stunning final round windup, going 12-under in her last 36 holes, to pocket the peso equivalent of roughly P5 million in the 54-hole tournament. Her compatriots Bianca Pagdanganan and Dottie Ardina weren’t as lucky and finished way off the pace. They play again at the $1.75-million ShopRite Open on October 1 to 3 in Atlantic City, New York.

Resounding US Ryder Cup win could be start of something big

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HEBOYGAN, Wisconsin—The kids are more than alright.

After America’s youngest Ryder Cup team handed Europe its biggest beating ever, they’re more than a little cocky, too.

Two decades-and-counting worth of frustration poured out alongside plastic cups filled with champagne after the 19-9 final score was posted Sunday at Whistling Straits. Heading into the final-day singles, the US players threatened to run up the score— something the Europeans did more than once while taking seven of the previous nine cup matches—and man, did they ever deliver.

Collin Morikawa, at 24 the youngest player on the team and already a two-time major champion, came up with the clinching blow.

A three-foot birdie putt at the 17th in his match against Viktor Hovland assured the Americans at least the 14 1/2 points they needed.

Everything after that wasn’t just gravy; it was designed to send the Europeans a message.

“This is a new era,” US captain Steve Stricker said. “These guys are young. They want it. They’re motivated. They came here determined to win. I could see it in their eyes.”

His kids, cockier still, promised to do it again when the event shifts to Rome in two years. With six rookies, eight players under 30 and a core of superstars that appear to genuinely like playing together, it may not be an empty boast.

“It’s one thing to win it over here and it is a lot easier to do so.

It’s harder to win over there,” said Jordan Spieth, who played on two previous losing US sides. “But if we play like we did this week, the score will look the same over there in a couple years, and that’s what we’re here for.”

Spieth wasn’t alone. Stricker tried to set a different tone for the post-match news conference by talking about camaraderie and his players’ willingness to sacrifice for one another. A few minutes in, however, the players were showering each other with praise and the mood was more like a celebrity roast.

Dustin Johnson, who won all five of his matches and at age 37 served as the team’s elder statesman, quickly became a frequent target for the barbs.

“Poor guy went out there and tried to get six points, but all he could do was five,” Justin Thomas laughed, adding, “We’re following grandpa into the abyss.”

Asked whether he had the stamina to keep celebrating deep into the night alongside his teammates, Johnson guaranteed it.

“Is that even in question?”

Patrick Cantlay howled.

“He’ll get started now,” Tony Finau concurred, raising his glass in a toast.

For all the fun and games, the goal Stricker set heading into the weekend—that this team could change the US Ryder Cup culture in a meaningful way—appeared close to a done deal. Previous teams have come nearly as talented; eight Americans were ranked inside the top 10 this time, and only one outside the top 20 (Scottie Scheffler, at No. 21). But those stellar lineups were undone by bickering and clashing personalities.

This team was without Tiger Woods and Phil Mickelson, two of the most dominant golfers of the last 30 years. Yet it was considerably more unified.

It certainly didn’t hurt that half the US squad arrived without any lasting scars from nearly three decades of European dominance. Or that so many of them knew and played against each other in the upper echelons of junior golf. Or that Stricker made everything from the choice of playing partners to the outfits they wore a more collaborative effort. AP

TEAM USA is on cloud nine celebrating its big victory over Europe. AP