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Rice inventory up nearly 32% as NFA holdings surge

THE national rice inventory was estimated at 2.625 million metric tons (MMT) on July 1, up 31.9% from a year earlier, and also up 1% month-on-month, the Philippine Statistics Authority (PSA) said.

The estimate was contained in the PSA’s Rice and Corn Inventory report, and is sufficient for about 82 days based on the average daily consumption of Filipinos of 32,000 MT.

Some 38.4% of the rice inventory was held by households, 41.9% by commercial warehouses, and 19.7% by the National Food Authority (NFA). The PSA did not specify how much of total inventory accounted for by imported rice.

The Rice Tariffication Law, which opened up rice imports to private firms who are levied 35% on Southeast Asian grain, was implemented on March 5.

This also shifted the NFA’s mission to procuring palay, or unmilled rice, from domestic farmers. From January to August, the agency was able to buy 5.77 million bags, with 26,036 bags bought in the first week of August.

Inventory held by households and commercial warehouses increased 1.6% and 16.4% year-on-year, respectively, while NFA stocks surged 869.8% from a year earlier.

The drawdown in NFA stocks was a key factor in last year’s inflation crisis, leaving poor households to buy their grain from commercial traders. In poor countries food makes up a disproportionate amount of the food basket, and the high prices paid for rice and the potential for unrest galvanized the government into passing the Rice Tariffication Law as an inflation-easing measure.

On a month-on-month basis, household and NFA stocks declined 3.9% and 6.2%, respectively, while commercial warehouse inventory increased 10.2%.

The corn inventory was 822,700 MT, up 71.1% year-on-year, but down 4.3% from a month earlier.

Commercial warehouses held 92.6% of the total, while household stocks accounted for 7.4%. NFA corn holdings were zero for the period.

Year-on-year, households and commercial warehouse stocks rose 1.5% and 81.1%, respectively.

Month=-on-month, their holdings fell 23.6% and 2.3%, respectively. — Vincent Mariel P. Galang

Fashion inspired by children’s songs and play

DEPENDING ON where you place the accent, the word saya in Tagalog can mean two things: it can mean a skirt when emphasis is on the first “a,” but when you pronounce the “a” a little bit longer at the end, it means happiness. A fashion show which will be held on Sept. 22 at the Grand Hyatt Manila brings both meanings together with Baro at Sayá by Awit at Laro.

Baro at Sayá is the follow up to Awit at Laro, which was spearheaded by UNICEF Ambassador Gary Valenciano and Tukod Foundation’s Bambi Mañosa-Tanjutco. It was launched last October as a UNICEF fundraiser for its anniversary and as a campaign to promote Filipino culture and celebrate the spirit of play by reintroducing traditional games to the youth through music and the arts. Events included the Awit at Laro album launch and concerts in 22 Ayala Malls around the country, as well as art exhibits at Greenbelt 5 and Alabang Town Center.

This year, the campaign brings innately Filipino elements to the catwalk, where designers draw inspiration from the Awit at Laro songs to create modern outfits using indigenous designs and weaves set against the backdrop of Filipino traditional games and Original Pilipino Music.

Designers for the gala will include Len Cabili, Ito Curata, Rhett Eala, Zarah Juan, Marga Nograles’ Kaayo, Anne Marie Saguil, and Paloma Zobel’s label PioPio, all led by Rajo Laurel who serves as overall fashion consultant for the project.

Each artist took inspiration from the Awit at Laro song that was assigned to them. Mr. Laurel, who will also be one of the designers for the show, was quoted as saying in a press release: “I have always believed in the foundation from day one. I love what it stands for and I am always inspired by organizations that foster the same values and morals as I was brought up with. So it was really a natural progression. I am so privileged to be part of such a special and worthwhile endeavour.”

He continued, “I actually made my own fabric for the collection and asked my nephews and nieces to help. One weekend I brought some fabric and paint and we just had a blast. I wanted to truly incorporate the sense of play in the collection and what better way to do this by literally playing with my nieces and nephews.”

Meanwhile, Ms. Cabili will highlight her children’s line, saying that the revival of games we grew up with is something close to her heart. “The theme is really unique and fun, we focused on our core competencies and found a way to relate it to the whole thrust of the project”, she said.

For Mr. Curata, the project brought back childhood memories and the moments he spends playing with his son. “It brought out so many emotions in me, and I was challenged because designing with a Filipino game in mind brought me out of my design comfort zone. I am also very excited because the project is extremely worthwhile.”

Mr. Eala will show off the stately side of Filipiniana. “Our pieces combine several fabrics and techniques of embroidery to highlight our mixed cultures, making you stand out. Each piece was made to reflect the rich culture that we represent made wearable and relatable for the modern woman,” he said.

Ms. Juan likewise experienced the joy of play, as she turned to playing piko with her team for inspiration. “This collaboration is a celebration of who we are as Filipinos. It is deeply rooted to our culture and heritage which makes it inspiring and exciting.”

Ms. Nograles will highlight traditional weaves in her work. “We took inspiration and put together our favorite weaves that represented Filipino song and play. Then we mixed some hand beading and embroidery by the indigenous [people] that we work with and topped it off with fun Filipino accessories. Each piece we will present will tell a fun and unique story,” she said.

For Anne Marie Saguil of Amarie, “The design process for the collection was quite different and a lot of fun for me because childhood, fun and play was the central theme for the clothes’ colors and silhouettes. As a result, the collection took on a younger playful vibe but still always suitable for the adult modern Filipina.”

For Paloma Zobel’s PioPio, the collection is all about the Filipino family — appropriate, as Ms. Zobel is part of one of the country’s most famous ones. “We thought it would be fun to include the Mañosas, our brand ambassadors, in all stages of this project,” Ms. Zobel said. “Awit at Laro is all about family, generations, and going back to this holistic child-like mentality where we showcase the importance of playing and our traditions. By allowing our brand ambassadors to help in the designing process, from picking fabrics to designing their dream outfits, we carried through this theme of getting back in touch with our roots and using art and creativity to help bond families and friends.”

This year’s Baro at Sayá fashion show is a fundraiser for UNICEF, Museo Pambata’s renovation project, and Tukod Foundation’s “Pamato sa Pagtuturo” Awit at Laro workshops for teachers.

As the models walk down the runway, they will be accompanied by the Awit at Laro album’s song that inspired the designer’s collection. Guest artists for the night include Gary Valenciano, the Awit at Laro album producer, Darren Espanto, and the TNT Boys. Also participating in the show is Sofia Zobel Elizalde’s STEPS dancers with choreography by James Laforteza.

“You can expect to see fun, playful and beautiful creations that go across generations. We are working with extremely talented designers whose inspiration runs deep. They create not only for themselves but to help inspire and uplift the Filipino people in more ways than one. We are also working with families to be our ambassadors to help represent what the Baro at Sayá fashion show represents: families that also want to give back to our communities and to our children,” said Kat Mañosa, Project Head of Baro at Sayá.

Baro at Sayá aims to give children the opportunity to appreciate the Philippines’ indigenous fabrics in order to raise a generation that gives value to sustainable fashion. Ms. Mañosa-Tanjutco, who also serves as Creative Head of Baro at Sayá, said that it is possible for a new population — one that is younger and larger in number — to wear these textiles. “I think that is possible, because it’s pretty much the law of supply and demand. The more you [want] it, the more it is available. Then the prices start to go down, because you have [more] people doing it: more communities creating and weaving,” she told BusinessWorld.

“It is available — it’s just a way of how to make it creative, and how to make it very interesting for the young people to wear; for the youth to take on and accept.”

Speaking about how games help in establishing identity, Ms. Mañosa-Tanjutco, said, “It is who we are as Filipinos. It’s our culture of values, and the way we are, basically as a people, is seen in our games.”

“Everybody has a story about a Filipino game that they used to play,” she said. “I think we all need this as a people,” she said about reintroducing traditional games to younger generations. “We need to learn how to play again.”

The Baro at Sayá by Awit at Laro fashion show will be held on Sept. 22 at the Grand Hyatt Manila, BGC, Taguig City. For ticket reservations and other details contact Ann Loren Yu, Executive Director of Tukod Foundation Inc. at 0917-123-2724. The fashion show is co-presented by Grand Hyatt Manila. — Joseph L. Garcia

Celebrate 31 years of Toyota with huge discounts and savings this August

THIS AUGUST, Toyota Motor Philippines (TMP) celebrates 31 years of reliably moving the Filipino people by offering big discounts and savings on select models of its best-selling lineup. Customers may now avail up to P85,000 cash savings and free maintenance package for up to 20,000 kilometers on Fortuner (4×2 variants); up to P100,000 off on the Hilux; and a 5-year extended warranty plus new add-on features like Back Camera and Daytime Running Lights for the Vios (G & E variants). Toyota’s Anniversary Extravaganza promo runs from Aug. 1 to 31.

The free periodic maintenance package of up to 20,000 kilometers already includes oil filter, oil drain plug, and cabin air filter replacements.

Toyota Motor Philippines was founded in August 1988 when Metrobank entered into a joint venture with Toyota Motor Corporation (TMC) of Japan and Mitsui & Co., Ltd.

Fast-forward 31 years and TMP — of which Metrobank’s equity position in the joint venture has been transferred to GT Capital Holdings, Inc. — is now the largest automotive company in the Philippines, with a total of 71 dealerships nationwide, including Lexus Manila.

“With over three decades of sales and service dedicated to customer satisfaction, it’s both an honor and responsibility for all of us in TMP knowing that majority of vehicles we see on the road carry the Toyota badge,” said TMP Vice-President for Marketing Elijah Marcial. “We will continue to uphold the values that made us number one, and make sure that our customers can put their trust in Toyota for more years to come.”

Check out great deals for other participating models Wigo, Innova, Rush, and the new Avanza.

For details and mechanics of the Anniversary Extravaganza promo, please click http://bit.ly/AnniversaryExtravaganza.

For the latest Toyota news and information, visit TMP’s official Web site at www.toyota.com.ph and follow the official Facebook page at www.fb.com/ToyotaMotorPhilippines.

Credit rating a barrier for shadow banks

LENDERS trying to break into the booming private debt markets by wooing insurance companies may face an unexpected barrier to entry: credit ratings.

Insurance companies have become bigger buyers of loans to America’s middle market companies as they seek out higher yielding assets. Yet unlike most other buyers of these loans, they typically require ratings.

“There’s a lot of new entrants in direct lending wanting to manage money for insurance companies,” said John Simone, head of Voya Investment Management’s insurance solutions group. “Some of them who aren’t aware you have to go through this extra step are going to get a rude awakening.”

Getting a credit rating is a costly and time-consuming process for any lender. It is even more unwieldy for newcomers with limited track records in a competitive market. Some lenders may not even be aware ratings are needed by would-be insurance buyers, who face punitive capital charges without them.

There are 116 US insurance companies with $7.7 billion in assets under management now active in private credit, according to research firm Preqin. In 2015, there were just 75 with $5.4 billion of assets.

That growth has made them attractive targets for all private lenders looking to beef up business and source new buyers beyond pension funds and foundations. In a February global private debt report, Preqin said insurance companies were one of the three largest investor groups that intend to make future investments in private debt.

DBRS rated about 30 middle market loans in the year ended June, and expects to rate a total of 60 in 2019.

This year alone Fitch Ratings has rated about 216 middle market loans, which are typically $250 million or smaller and often arranged by non-bank lenders. That’s about double the rate last year.

“The growth has been very strong and we’ve seen the demand across sectors,” said Sarah Jamieson, a director in leveraged finance at Fitch Ratings.

Both DBRS and Fitch Ratings attribute increased demand for middle market loan ratings to greater participation by insurance companies.

“As spreads in the market have tightened, investors are looking to asset classes where there might be a pickup in illiquidity premium, such as middle market corporate loans,” said Jerry van Koolbergen, managing director responsible for structured credit at DBRS.

Yet acquiring ratings may be a bigger hurdle for new lenders, who are already forced to carve out niches due to stiff competition for deals and investor cash. Market participants say there is a danger they may become too reliant on ratings to win business, rather than carry out their own due diligence.

There are challenges for the ratings agencies as well. They have to dig through financials of small companies that may have changed hands multiple times, while audited financials can be hard to come by. Both make analysis difficult.

Christian Stracke, global head of credit research at Pacific Investment Management Company LLC, said ratings could be a good thing for the industry as long as methodologies take into account differences from prior cycles.

It’s more common today to see asset-lite borrowers with covenant-lite loans. In prior cycles loans had more investor protections and better claim on assets in times of financial troubles, he said. There’s also been an uptick in loan-only capital structures with no unsecured debt to help absorb losses for senior lenders. They all impact debt recoveries. — Bloomberg

Foreign LNG companies ‘committed’ to entering PHL — Gatchalian

FOREIGN entities have approached the Senate energy committee to seek guidance on the direction of the country’s liquefied natural gas (LNG) industry, the panel’s chairman said, pointing to the continuing interest to set up local facilities.

Senator Sherwin T. Gatchalian, who chairs the Senate committee on energy, said the foreign companies, which he said have businesses related to LNG, were “committed” to enter the Philippines as they had visited his office “a few times.”

Aside from the foreigners, he said some local groups had sought an audience with his office on their plans to develop LNG facilities.

As an example, Mr. Gatchalian cited the group of businessman Lucio C. Tan through MacroAsia Corp., which he said has a US company as partner for the project.

“You have to partner with the US. They’re the most abundant in terms of supply of LNG. Mura pa (And also cheap),” he told reporters.

MacroAsia is a prospective new entrant in the local LNG business, which already has First Gen Corp. and Phoenix Petroleum Philippines, Inc. as the leaders in terms of project development.

Last week, Lopez-led First Gen and its partner Tokyo Gas Co. Ltd. secured certification from the Energy department to declare their project as one of national significance, helping ease the process of securing permits. Phoenix Petroleum earlier sought extension of its notice to proceed with its separate project. Both groups plan to build an integrated LNG facility.

Mr. Gatchalian identified the possible new participants as Gen X Energy, a company backed by an affiliate of Blackstone, an energy company that invests in projects in Asia. He said the foreign firm is the partner of MacroAsia.

Mr. Gatchalian also named Chevron Corp., which is partnering with Japanese trading house JERA Co., Inc. and shipping line NYK Line.

He also said Cheniere Energy, Inc., an LNG company based in Texas, as “looking around” for a possible partner. Representatives of these companies have visited his office.

“I think they are seeking, unang una (first of all), they are seeking for guidance, and then second they’re also seeking to get some opinion regarding legislation kasi alam din nila walang legislative framework ito (because they also know this does not have legislative framework),” the senator said.

Asked about what the prospective LNG project developers want to see in a proposed LNG law, he said: “Basically, typically ang nakukuha kong (what I am getting as) feedback from them is competition. They should be able to compete and looking at how many interested parties, talagang (surely) we have to make sure that competition is vibrant in the industry.” — Victor V. Saulon

US-China tensions, GDP data dampen sentiment

By Arra B. Francia
Senior Reporter

LOCAL SHARES fell last week, as a combination of tensions from the US-China trade war, weak economic growth data, and the MSCI rebalancing took a toll on investor sentiment.

The Philippine Stock Exchange index (PSEi) shed 0.75% or 59.77 points to 7,854.39 on Friday. On a weekly basis, it was down by 3.39% or 275.54 points.

Net foreign selling stood at P3.95 billion compared to P293.08 million in net inflows seen in the previous week.

“The disappointing second quarter GDP (gross domestic product) data and the MSCI rebalancing continued to haunt the local market,” Philstocks Financial, Inc. said in a market note on Friday.

Investors started last week with already weak sentiment from US markets, as US President Donald J. Trump called China a currency manipulator as it devalued the yuan. This came after Mr. Trump threatened to impose higher tariffs on $300-million worth of Chinese imports.

The lower July Philippine inflation print, released last Tuesday, failed to boost sentiment as the main index continued to perform lower on that day. The Philippine Statistics Authority (PSA) reported that inflation eased further in July to 2.4%, the slowest in 31 months. This is slower than June’s 2.7% and July 2018’s 5.7%.

The PSEi saw temporary relief on Wednesday as local investors supported its movement, even as net foreign buying persisted.

Disappointing second quarter GDP data greeted investors on Thursday, as the PSA announced that the Philippine economy grew by 5.5% in the April to June period. This is the slowest expansion seen in more than four years or 17 quarters.

Socioeconomic Planning Secretary Ernesto M. Pernia blamed the El Niño phenomenon, heightened US-China trade war, and the election ban on construction activities for the slowdown. The delayed passage of the national budget also affected growth, he said.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) on Thursday decided to cut interest rates by 25 basis points, as widely expected, on the back of easing inflation. The overnight reverse repurchase rate now stands at 4.25%, while the overnight deposit and lending rates are now at 3.75% and 4.75%, respectively.

The BSP also cut its inflation forecast for 2019 to 2.6% from the downward-revised 2.7% adopted during its June 20 review. It further reduced 2020’s forecast to 2.9% from 3% before.

Last week also saw the second rebalancing on MSCI Emerging Markets index, where it raised the weighting of China shares. The third and final weighting will be implemented this November. Fund managers who track the MSCI indices are seen to adjust their portfolios accordingly.

Local financial markets are closed today for the Islam holiday Eid al-Adha.

Faster PEZA approvals urged amid POGO worries

THE GOVERNMENT needs to address the bottlenecks in the economic zone accreditation process in anticipation of a possible slowdown in online gaming investment following a crackdown on the industry in China, Colliers International Philippines said.

“The issue that we have right now is we need more PEZA (recognized) space… What the government can do is hasten approvals or make it faster,” Richard T. Raymundo, managing director of Colliers, told BusinessWorld after the firm’s Second Quarter Property Market Briefing on Friday.

He was referring to the Philippine Economic Zone Authority’s (PEZA) accreditation process, which allows developers and locators to qualify for investment incentives. PEZA typically endorses a site for incentives, but the final step is a proclamation of economic zone status by the Office of the President.

Mr. Raymundo estimated that for this year, Metro Manila has about 700,000 square meters (sq. m.) of new office supply due to be built, with about 225,000 sq.m. PEZA-compliant. Of the PEZA-approved space, 163,000 sq.m. is pre-leased, leaving only 62,000 sq.m. in PEZA-approved space remaining.

“Ang liit (It’s not enough), so we need more buildings which are completing this year to be PEZA-accredited. That’s how they can help because there is demand. It is still growing,” he added.

He said faster processing is one way to address the possible fall-off in business from the Philippine Online Gaming Operator (POGO) sector, after China signaled a crackdown on cross-border gambling and complained of illegal recruitment and poor work conditions for its nationals in the Philippines.

The Chinese embassy in particular zeroed in on a plan by the gaming regulator to cluster POGO firms in designated hubs that will be “self-contained,” which the embassy said might violate its nationals’ rights.

Mr. Raymundo said that the POGO industry is a “big force” that drives the property market since these companies are about 30% to 35% of the office market while making up a large portion of the foreign take-up in the residential market.

He said he does not expect a “pack up and go” scenario for POGOs in the event of a crackdown, but rather a slowdown in future take-up due to firm contracts already signed.

He said space that may be vacated by departing POGOs can be taken up by other occupiers amid strong growth all over the economy.

“The upside is maybe this is an opportunity for the traditional (office tenants)… to start (occupying) these buildings because there is still demand,” he added.

Colliers reported that deals with traditional and non-outsourcing firms hit 271,000 sq.m. in the first half of 2019, up 22% year-on-year. — Vincent Mariel P. Galang

Antique Airport contractor to hire more labor, work longer hours

THE DEPARTMENT of Transportation (DoTr) said it is expediting development works at the Antique Airport, adjusting the completion timeline to June 2020, after asking the contractor to hire more workers and work longer hours.

“We have requested the contractor to fast-track the development of the Antique Airport to efficiently serve the region. To do this, we need the augmentation of workers and equipment, and extend the working hours from 8 to 12 hours,” Transportation Undersecretary for Aviation Manuel Antonio L. Tamayo said in a statement Sunday.

Works at the Antique Airport, which started in December last year, were originally scheduled to finish in August 2020. These cover the construction of a new passenger terminal building, apron, taxiway, fire station building, power house, administration building, perimeter and security fence, vehicle parking area and staff house.

The DoTr said the adjusted timeline comes after an inspection of the works on Aug. 3, where it found the development has progressed 12% since December.

Antique Representative Loren B. Legarda joined the inspection, and asked the DoTr and the contractor to submit to her office the master plan for the project within two weeks.

“(Adjustments were made) to extend the airport’s runway from 1,430 meters to 1,800 meters in order to accommodate jet operations. (Ms.) Legarda has pledged to work on the additional funding of at least P150 million for the runway extension,” the DoTr said.

It added Ms. Legarda’s son, Solar Para Sa Bayan Corp. President Leandro L. Leviste, “committed to provide” a solar panel system for the airport for free.

“We will ensure that this airport will be upgraded on or before its target date so that we may deliver to the people of Antique the service and facility that they have long been yearning for,” Transportation Secretary Arthur P. Tugade said in the statement.

Antique airport resumed commercial operations in December with a flight operated by Philippine Airlines (PAL) linking the destination to Clark International Airport.

Antique Airport is a principal class 2 gateway and the only airport in the province of Antique. — Denise A. Valdez

How PSEi member stocks performed — August 9, 2019

Here’s a quick glance at how PSEi stocks fared on Friday, August 9, 2019.

 

CTA rejects Hedcor appeal of refund ruling

THE COURT of Tax Appeals (CTA) denied a motion for reconsideration filed by Hedcor, Inc. over the denial of its 2011 tax refund claim amounting to P50.66 million, citing lack of merit.

In a five-page resolution dated July 10, the court, sitting en banc, upheld its February 2019 decision which denied the petition of the hydropower generation company.

The court said the firm did not comply with the prescribed period stated in the Tax Code for filing its petition before the CTA.

Section 112 of the National Internal Revenue Code (NIRC) of 1997 states that a taxpayer has two years to file an administrative claim for a refund before the Bureau of Internal Revenue (BIR).

The BIR, meanwhile, has 120 days to decide on a claim. If not acted upon in 120 days or in case of denial or partial grant of a claim, a taxpayer is given 30 days to file a petition before the CTA.

The appellate court said Hedcor “erroneously appealed” the December 1, 2014 letter of the BIR which denied its administrative claim because it was already beyond the prescribed 120-day period. It also said petitioner did not elevate to the CTA the inaction of the BIR during the 30 days after the 120-day period.

“A claim for unutilized input value-added tax is in the nature of a tax exemption. Thus, strict adherence to the conditions prescribed by the law is required of the taxpayer,” the court ruled.

“Refunds need to be proven and their application raised in the right manner as required by law. Here, noncompliance with the 120+30-day periods is fatal to petitioner’s judicial claim for refund,” it added.

In the February decision, which upheld the dismissal by the second division on jurisdictional grounds, it found that Hedcor had until June 14, 2013 for the first quarter, August 30, 2013 for the second quarter, March 1, 2014 for the third quarter, and April 7, 2013 for the fourth quarter of 2011 to elevate the claim to the CTA due to inaction of the BIR.

However, a petition for review was only filed on Jan. 9, 2015 before the court.

The decision was written by Associate Justice Esperanza R. Fabon-Victorino. — Vann Marlo M. Villegas

Davao City hotels gearing up for Kadayawan Festival crowd

KADAYAWAN, Davao City’s biggest annual festival, draws a bigger crowd than the Christmas and dry-season holiday seasons, and hotels here are all set for the visitor surge during much of August.

“I talked to officials of some of the hotels. They said they are fully booked. We are very happy with it kasi paakyat ang bilang ng mga turista sa atin (because the number of tourists is increasing),” said City Tourism Office head Regina Rosa D. Tecson in an interview.

Davao City took in more than one million tourists in the five months to May, and Ms. Tecson said the city is on track to hit the three million target for the year.

In 2018, the city had 2.4 million visitors, up from two million in 2017.

The Royal Mandaya Hotel, one of the oldest and biggest in the city with 181 rooms, is fully-booked for August, according to General Manager Benjamin J. Banzon.

“Kadayawan is one of the highlights for the hotels in Davao because the stay of the guests, which average two nights and three days (for most of the year). During Kadayawan, their stay becomes four nights and five days. The Royal Mandaya Hotel now has no more available rooms,” Mr. Banzon said.

Most hotels prepare special attractions and menus for the Kadayawan, highlighting Davao’s attractions.

The Seda Abreeza said it will highlight its partnership with the Philippine Eagle Foundation and display a preserved eagles, named Diola, at the hotel lobby to help raise environmental awareness.

Seda Abreeza is also offering a number of specialty drinks, dishes, and spreads with Davao’s top products, including chocolate, Malagos cheeses, durian, mangosteen, pomelo and tuna.

Park Inn by Radisson Davao General Manager Emelyn M. Rosales said a majority of expected guests are Filipinos from the key feeder cities like Manila and Cebu.

“We target around 80% (occupancy rate), ending the month. We have prepared some room and food and beverage promotions for the period of Kadayawan,” Ms. Rosales said. — Maya M. Padillo

Parañaque City launches permit express lane system

THE Department of Interior and Local Government (DILG) said Parañaque has launched an express lane to expedite dealings with companies doing business with the city.

Project Express Lane Operation (ELO) 2.0 will help ensure that new applications and renewals for business permits take three days or less, Local Government Secretary Eduardo M. Año in a statement Sunday.

Mr. Año also added that the new process requires a maximum of two signatories.

“We are pleased to partner with the City Government of Parañaque led by Mayor Edwin L. Olivarez on this project and we hope that other LGUs will follow and replicate this system. It brings together several innovative IT solutions into their pioneering Concierge system, effectively redefining what it means to be business-friendly,” said Mr. Año.

He added, “Mas mabilis na proseso, mas maraming investments sa LGUs. At mas maraming investments, mas maraming government services para sa mga tao at mas uunlad rin ang ating mga lokalidad. (The faster the processes, the more investments LGUs will take in. And with higher investments, LGUs can offer more services and ensure more development.”

The DILG noted that Project ELO 2.0 will also feature the first computerized Occupational Permit system which shortens the process of applying for occupational or work permits to four steps as opposed to the previous 10 steps.

Parañaque City also installed Smart Kiosks, a self-service system that prints out application forms for business permit renewals and statements of account for quarterly payments of business taxes and fees.

“The DILG will continuously capacitate our LGUs to be partners in national development by helping them become more business-friendly and competitive. The remaining 20% of LGUs who have yet to establish their BOSS (Business One-Stop Shop) and streamline their process should, therefore, be up to the task of simplifying their business permit application process in order to encourage more investments in their areas,” Mr. Año said. — Vince Angelo C. Ferreras

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