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SEC approves JG Summit’s new infrastructure unit

THE Gokongwei group has established a new company that would handle its investments in infrastructure.

In a disclosure to the stock exchange, JG Summit Holdings, Inc. said the Securities and Exchange Commission has approved the incorporation of JG Summit Infrastructure Holdings Corp.

The new corporate vehicle signifies the company’s intent to be take part in the government’s intensive infrastructure campaign, which looks to spend P8 trillion during President Rodrigo R. Duterte’s term for the construction of railways, expressways, bridges, and improvement of airports.

The company was not immediately available for comment when asked about the steps moving forward for the infrastructure unit.

Earlier this year, JG Summit, along with the Filinvest Group, submitted a P186.64-billion unsolicited proposal for the development and expansion of the Clark International Airport. However, the proposal was rejected by the Department of Transportation, which will undertake the modernization of the airport.

JG Summit’s interests also include air transportation through Cebu Pacific; real estate through Robinsons Land Corp.; banking through Robinsons Bank Corp.; food and beverage through Universal Robina Corp.; and petrochemicals through JG Summit Petrochemical Corp.

JG Summit further holds interests in power generation through Global Business Power Corp., where it has a 30% stake, as well as Manila Electric Co. with a share of 27.1%. The listed firm also has an 8% stake telecommunications firm PLDT, Inc.

The Gokongwei family’s holding company had a market capitalization of P526.62 billion, as of Sept. 5.

JG Summit’s first half attributable profit stood at P14.64 billion, 16.48% lower than the P17.53 billion recorded in the first half of 2016.

Shares in JG Summit ended flat at the stock exchange to P73.8 apiece on Tuesday. — Arra B. Francia

US says N. Korea ‘begging for war,’ wants tougher sanctions

UNITED NATIONS/SEOUL — The US has accused North Korea of “begging for war” and pushed for the “strongest possible measures” on Pyongyang following its sixth and most powerful nuclear test.

As world powers scramble to react to the latest grave step in the North’s rogue weapons program, South Korea launched major live-fire naval drills to warn its isolated neighbor against any provocations at sea Tuesday morning local time.

US Ambassador Nikki Haley told an emergency meeting of the UN Security Council that Washington will present a new sanctions resolution to be negotiated in the coming days, with a view to voting on it next Monday.

“Only the strongest sanctions will enable us to resolve this problem through diplomacy,” Ms. Haley told the meeting Monday called by the United States, Britain, France, Japan and South Korea.

North Korea on Sunday triggered global alarm when it detonated what it described as a hydrogen bomb designed for a long-range missile.

The underground blast had a yield of between 50 and 100 kilotons, or on average more than five times more powerful than the bomb detonated over Hiroshima, UN political affairs chief Jeffrey Feltman told the council.

Declaring that “enough is enough,” Ms. Haley said incremental sanctions imposed on Pyongyang since 2006 had failed.

Leader Kim Jong-Un’s “abusive use of missiles and his nuclear threats show that he is begging for war,” she said.

“War is never something the United States wants and we don’t want it now, but our country’s patience is not unlimited,” she said.

Ms. Haley did not spell out what measures Washington was seeking, but diplomats said they could target oil supplies to North Korea — potentially dealing a major blow to the economy.

New sanctions could also seek to curb tourism to the country and ban North Korean laborers sent abroad.

The draft text was expected to be presented to the 14 other council members on Tuesday as the United States sought to respond quickly to reports that North Korea was preparing another missile launch.

Pyongyang in July fired two intercontinental ballistic missiles (ICBMs) that apparently brought much of the US mainland into range and Seoul has said it could be planning another test.

At the UN, China’s ambassador Liu Jieyi warned that the crisis was worsening and emphasized the need for dialogue and a diplomatic solution.

“China will never allow chaos and war on the (Korean) peninsula,” he asserted.

Mr. Liu urged the parties to agree to a Chinese-Russian plan calling for the North to freeze its missile and nuclear tests and the United States and South Korea to suspend joint military exercises.

Ms. Haley rejected the proposal as “insulting.”

“When a rogue regime has a nuclear weapon and an ICBM pointed at you, you do not take steps to lower your guard. No one would do that. We certainly won’t,” she declared.

Russia said it would study the new US proposals for sanctions, but again stressed those measures alone would not resolve the crisis.

“This is not the way to get parties to the table to seek a political solution,” said Russian Ambassador Vassily Nebenzia.

The council has imposed seven sets of sanctions on North Korea since it first tested a nuclear device in 2006, but Pyongyang has repeatedly found ways to circumvent the measures.

The most recent resolutions, however, have zeroed in on the economy, targeting key exports sectors such as coal that are a source of hard currency for the regime.

Ms. Haley reiterated US threats to impose sanctions on countries that conduct trade with North Korea, saying these nations will be seen as “giving aid to their reckless and dangerous nuclear intentions.”

That could have major reverberations: China is the largest trading partner of both the North and the United States.

‘BILLIONS OF DOLLARS’ OF ARMS
South Korea’s defense ministry said it was already strengthening its defenses, in part by deploying more US-made Terminal High Altitude Area Defense missile launchers.

The South carried out an early-morning volley of ballistic missiles Monday simulated an attack on the North’s nuclear test site, followed Tuesday by the naval drills.

US President Donald J. Trump and South Korean leader Moon Jae-In spoke on the phone Monday and agreed to remove limits on the payload of the South’s missiles, fixed at 500 kilograms according to a 2001 bilateral agreement.

Mr. Trump also approved in principle, the sale of “many billions of dollars’ worth of military weapons and equipment from the United States by South Korea,” according to a White House readout of the call which did not mention any specific new deals.

Seoul was the fourth-biggest importer of US arms between 2010-2016, purchasing nearly $5 billion of weaponry in that period according to an analysis by the Stockholm International Peace Research Institute.

On Sunday US monitors measured a powerful 6.3-magnitude earthquake near the North’s main testing site.

Hours before the test, the North released images of Mr. Kim inspecting a device it called a “thermonuclear weapon with super explosive power” entirely made “by our own efforts and technology.” — AFP

MRII starts bulk supply to Bacolod water district

CEBU-BASED Mactan Rock Industries, Inc., (MRII) officially activated its bulk water deal with Bacolod City Water District (BCWD) on Monday, starting with a 10-cubic meter daily supply. BCWD and MRII, along with partners TGV Builders, Inc. and Tubig Pilipinas Group, Inc., have a 25-year contract for the bulk water supply project. MRII Chairman Antonio Camelo P. Tompar said the initial investment for the project, which is under a build-operate-transfer scheme, was about P800 million. Under the contract, the supply could be expanded to as much as 75,000 cubic meters over the next 10 years. Mr. Tompar said MRII is also currently negotiating with Metro Cebu Water District for a bulk supply deal. — The Freeman

All HMO firms compliant with capital requirements

ALL health maintenance organization (HMO) firms in the Philippines remain compliant with requirements set by the Insurance Commission (IC), the regulator said, noting that brewing dispute within one provider remains an internal issue.

IC Commissioner Dennis B. Funa said a brewing dispute within the board of Caritas Health Shield remains a boardroom quarrel over a question of solvency, as the regulator said the firm remains armed with cash.

“We note that based on the unaudited quarterly report, its financial position as of June 30, 2017, total assets are valued at P8.2 billion while liabilities are at P8 billion. Therefore as it stands, Caritas has sufficient assets to cover its liabilities,” Mr. Funa said in a press briefing at the IC headquarters in Manila.

Assessments made by the IC also showed that all 28 HMOs operating in the Philippines have complied with the minimum capital requirements set by the regulator since 2016 or when it began supervising such firms.

HMOs were placed under the insurance industry regulator’s watch through  Executive Order No. 192 signed by former President Benigno S. C. Aquino III on Nov. 12, 2015.

Previously, it was the Department of Health which monitored HMOs in the country.

An IC circular released in July 2016 adopted a risk-based capitalization requirement covering HMOs, as it sought to cap the maximum amount of policies they sell based on a firm’s paid-up capital. Those operating with a capital of P50 million or less can only sell products worth a maximum of five times its capital buffer.

The multiplier is higher with a bigger capitalization, with the IC imposing no limit for HMOs backed by capital worth above P500 million.

Zooming in on Caritas Health Shield’s case, Mr. Funa said they cannot trace where the alleged P7-billion deficit stems from, noting that the regulator cannot step in to address Caritas’ boardroom drama.

“We cannot intervene in their intra-corporate dispute – that is a matter that should be before the courts. We are only looking at the financial strength of the company,” Mr. Funa said.

At the center of the squabble are Caritas’ former president Teodoro M. Jumamil and incumbent head Ronnie U. Collado.

Ferdinand George A. Florendo, Deputy Insurance Commissioner for financial examination, said separately that Caritas’ problem as far as the regulator is the delayed submission of financial and actuarial reserve requirement reports, alongside three other HMOs. — Melissa Luz T. Lopez

Peso inches up on inflation data

THE PESO closed barely changed for the third straight session yesterday, picking up slightly as the dollar grew weaker across a host of currencies and with domestic inflation boosting confidence towards the currency.

The local unit closed at P51.14 against the greenback on Tuesday, slightly picking up from its P51.165 finish last Monday.

The peso traded generally stronger yesterday as it opened at P51.13. It briefly touched P51.15-per-dollar as its intraday low, and even reached P51.05 as its best showing before settling at the closing rate.

Two traders interviewed yesterday said the local currency saw relatively quiet trading yesterday as it moved within the same range amid lack of fresh leads.

“We continued to see a weaker dollar across the board, trading at softer tone… The main market focus still are any developments with North Korea. Market players are looking for a new catalyst,” the first trader said by phone.

Seoul media reports said Pyongyang was moving another intercontinental ballistic missile towards its west coast yesterday, which follows its sixth nuclear test involving a hydrogen bomb over the weekend that escalated geopolitical tensions anew.

Both traders also pointed out that the faster inflation for August announced yesterday may have boosted appetite for the local currency.

“The peso appreciated today as stronger-than-expected domestic inflation increased the chances of a rate hike from the BSP this year,” the second trader said on Tuesday. “Moreover, the local currency also gained due to easing concerns over the missile program of North Korea.”

Prices of widely-used goods and services picked up by 3.1% in August, faster than the 2.8% logged in July and the fastest since April, according to the Philippine Statistics Authority.

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said the latest inflation print falls within the central bank’s expectations as it logged between the 2-4% target band. Year-to-date, inflation has averaged 3.1%, just a tad lower than the BSP’s 3.2% estimate for the entire year.

Both traders expect the peso to remain within its current range for today. The first trader expects the currency to trade within P51 to P51.20 versus the dollar, while the second sees a slightly higher range at P51.05-P51.25.

Most Asian currencies also edged up on Tuesday as a bit of appetite for risk returned one day after trading volumes were slashed by North Korea’s most powerful bomb test.

“Beyond the initial dips in risk assets and bids in safe havens early Monday, market sentiment has proved to be fairly resilient, rightly seeing through the current North Korean tensions as a continuous drama that waxes and (usually) wanes,” Mizuho Bank said in a research note.

The Singapore dollar inched up against the US dollar, after a survey showed activity in the export-heavy economy’s factories expanding at its fastest pace in almost three years in August.

The South Korean won edged up slightly against the dollar after falling to a near two-week low on Monday, the day after North Korea tested what it said was an advanced hydrogen bomb for a long-range missile.

The Thai baht and the Indian rupee edged down slightly. — Melissa Luz T. Lopez with Reuters

Huelgas backs private sector involvement in sports

By Michael Angelo S. Murillo
Reporter

SEEING how the whole setup worked for him in the recently concluded 29th Southeast Asian (SEA) Games in Kuala Lumpur, Malaysia, where he won his second straight gold medal in men’s triathlon, Nikko Huelgas said he supports private sector involvement in sports development in the country in partnership with the various sporting organizations.

Huelgas backs private sector involvement in sports
SEA Games gold medalist Nikko Huelgas gives credit to supporter Chooks-to-Go for his top performance in Kuala Lumpur. — PSC-POC MEDIA GROUP

One of the athletes supported by roasted food chain Chooks-to-Go, along with the Gilas Pilipinas basketball team, Mr. Huelgas said the support he got from Bounty Agro Ventures, Inc. (BAVI), the parent firm of Chooks-to-Go, went a long way in his bagging his second gold medal in the biennial regional sporting meet.

Mr. Huelgas highlighted a one-two finish for the Philippines in the multisport endurance event with teammate John Chicano finishing second.

Twenty-six-year-old Huelgas, who was a champion swimmer at the University Athletic Association of the Philippines while with De La Salle University, topped his event with a time of one hour, 59 minutes, and 30 seconds, an improvement from his 2:04:32 in 2015 in the Singapore Games.

Mr. Chicano took the silver medal with a time of 2:03:24.

The gold of Mr. Huelgas was part of the 24 top hardware that the Philippines hauled in this year’s edition of the Games, and one of the firsts that the country won in the competition.

“Surely I wouldn’t have won the gold without the support of Chooks-to-Go. I mean, maybe nobody noticed it but months leading up to the SEA Games, before I flew in to Malaysia, I was already being supported by Chooks-to-Go, including through daily supply of its roasted chicken and liempo (pork belly). And it was a big factor. Food is expensive and for a national athlete that does not earn too much, a little bit of help goes a long way,” said Mr. Huelgas when asked by BusinessWorld, on the sidelines of their homecoming press conference hosted by the food chain last week, for his thoughts on the support he got from Chooks-to-Go.

He went on to say that he believes that such a setup works two ways.

“And with me winning the gold, it’s a permanent legacy for Chooks-to-Go. That they helped someone along the way to win the gold medal,” Mr. Huelgas said.

Mr. Huelgas said further that given his experience, the involvement of the private sector is something “ideal” provided terms are properly sorted out and discussed.

“Based on my experience, the whole private sector sponsorship system is the right system for Philippine sports. It’s a formula that I believe would work provided handled the right way not only for me but also the Philippine triathlon team and other athletes. Another good example of it is marathoner Mary Joy Tabal, who funded her own training with support from the private sector and won the gold medal,” he said.

On the part of Chooks-to-Go, their support of Mr. Huelgas is something it takes pride in.

“We saw the potential of Nikko and we are very happy with his performance and for winning the gold medal,” said Ronald Mascariñas, BAVI president, in a separate interview.

“Our concentration right now is basketball and triathlon with Nikko. But we are willing to listen to any proposal and as long as it is not beyond our means and capacity, who knows, maybe,” said the BAVI president when asked if they are willing to support other athletes and sports as well.

Mazda CX-5 AWD Sport

IN second-generation form the Mazda CX-5 is a completely reworked version of the nameplate that debuted in 2013, only carrying over items that apparently need no (or just minor) changes from the previous car — like the drivetrain, which still is cutting-edge, anyway. In all other aspects the present CX-5 is a vastly improved model over the car it replaced.

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• Cabin has gone upscale. Retaining the uncluttered layout of the previous model, interior of the present car is lined by better-quality materials that look nice and feel good to touch. The surfaces of the dashboard, console and door panels are defined by lightly textured and padded composites and leather, with contrasting polished trim in some spots. The leather covering the seats and other furniture is supple and detailed with stitching. Black and dark gray predominate throughout, creating a somber but stylish business lounge vibe in which one could expect to hear some techno ambient music.

• Cabin is also packed with techie gizmos, among which is a seven-inch LCD touch screen panel that displays and allows access to infotainment functions, which expectedly pair with Bluetooth, aux-in and USB ports. A knob on the center console duplicates controls on the touch screen, providing a more “analog” interface. Anybody who is familiar with a smartphone should have no trouble rifling through the infotainment system’s controls. Plus, the graphics put legibility over snazzy gimmicks.

• Other premium interior kit includes push-button ignition for the engine that’s fitted with automatic start/stop; electric parking brake switch; automatic climate control; self-dimming rear-view mirror; and a head-up read-out for speed.

• Space for front and backseat passengers is ample while the trunk can fit a reasonable amount of cargo.

• Mazda’s suite of fuel-saving and emissions-cutting tech branded as SkyActiv is no mere marketing hype; a daily mix of gridlock driving and brief expressway blasts for close to a week routinely revealed a fuel consumption figure hovering around double-digit territory, even with the engine start/stop feature switched off most of the time. Not bad for an all-wheel drive crossover propelled by a 2.5-liter, 187hp, 251Nm, gasoline engine.

• The car’s suspension is pliant enough to absorb lumpy pavement and, together with a well-insulated and stiff body structure, prevents most noise and vibration from entering the cabin. Impressive, considering the car’s footwear of 19-inch alloys wrapped with 225/55 rubbers.

• Styling has turned sharper, sleeker, mostly a result of more chiseled — rather than organic — body lines, elongated and more complexly rendered lamps front and rear, and what seems to be a narrower greenhouse. Added musculature on the wheel arches creates definition where previous car can seem bulbous.

• Mazda’s Yojin3 Total Care program goes beyond the usual three-year/100,000-kilometer warranty coverage or free 24-hour roadside assistance (inclusive of towing or on-site repair services) offered in the after-sales plans of other brands. Mazda includes these services, but throws in periodic maintenance for three years, or until the CX-5 clocks 60,000 kilometers, at no charge. A “concierge” service for dining and travel bookings, among other assistance needs, and also at no cost, also comes with the Yojin3 program.


• With a 2.5-liter mill that spins out stout power rating figures, it’s only expected that the CX-5 is entertainingly quick. It is not. It accelerates smoothly, but forward progress is only sufficient, far from frenetic. Grunt can be weak too; down-shifting is necessary to get more shove out of the engine.

• Stylishly swoopy greenhouse cuts visibility for passengers in the backseat. Pair this with the dark interior pieces and rear accommodations can feel cramped when actually it’s adequate.

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• In this premium spec the CX-5 falls near the price range of truck-based SUVs, all of which more practical — they seat seven, have tougher underpinnings, and could haul more cargo. But if it’s car-like manners in a handier (and only slightly less useful) size that one craves for, the CX-5 is at present the best crossover choice in the local market. Add the worry-free maintenance service and its appeal becomes even stronger. — Brian M. Afuang


Bluffer’s Box

Mazda CX-5 AWD Sport

Price: P1.895 million

Engine: 2.5-liter, inline-four, direct injection gasoline; 187hp @ 6,000rpm, 251Nm @ 4,000rpm

Transmission: Six-speed automatic

Drivetrain: All-wheel drive

Wheels/Tires: 19 inches, 225/55

Key features: G-Vectoring Control; i-Stop automatic engine start/stop; smart entry with push-button ignition; seven-inch touch screen multimedia with Bluetooth, aux-in, dual USB port connectivity; 10-speaker Bose sound system; head-up display; full-leather interior; automatic dual-zone climate control; parking sensor; reversing camera; blind spot monitoring

Perks seen needed for in-country ore processing

THE GOVERNMENT’S push to extract more value from the country’s mineral resources by requiring more downstream operations to be performed in-country should be encouraged, along with incentives to attract more investors, a legislator said.

Speaking at the opening of the annual mining summit on Tuesday, Rep. Arnel U. Ty, Chair of the Natural Resources Committee, backed a recently filed House bill which intends to block raw ore shipments unless they are processed locally, “to get the most value from our country’s mineral wealth.”

“The value-add from processing plants will contribute significantly to the economy in terms of additional taxes and employment generated,” Mr. Ty said at the Sofitel Philippine Plaza Manila.

“However, we also recognize that a simple ore export ban will not work. We must also provide for the proper assistance and incentives to make investments in minerals processing more attractive and competitive, not just against others in the region, but most especially against China,” he added.

Mr. Ty also mentioned the pending revenue-sharing scheme which aims to raise the government’s share of the revenue gained from the export of ore.

“Any changes in revenue-sharing policy must consider… global competitiveness. Models for proposed changes in mining taxes must be tested carefully to maintain a fair balance and not cause any disadvantage to the industry’s sustainability,” Mr. Ty added.

Pending bills will raise the government’s share to 10% of a miner’s gross revenue, or 55% of adjusted net mining revenue (gross revenue less production and other deductible costs but not to exceed 10% of direct mining, milling and processing costs); and 60% of any windfall profit.

Miners, however, have insisted that the industry already gives its fair share to the government. A new revenue-sharing scheme is one of the conditions for lifting the ban on new mining projects in place since 2011 and extended indefinitely through Executive Order 79 signed in 2012.

Data from the Mines and Geosciences Bureau show that mining accounted for 0.6-0.7% of gross domestic product (GDP) beginning 2013 as well as 0.5-0.7% to total employment.

The country’s land area covers about 30 million hectares, some 3% of which is covered by mining contracts. Of this total, 0.3% is actively mined.

Sought for comment, Ronald S. Recidoro, executive director and officer-in-charge of the Chamber of Mines of the Philippines (CoMP) said halting raw ore shipments does not translate to getting the most of the country’s mineral resources.

“We want to see the country get more benefit from the minerals. We are all for it. But if the proposal is to solely ban the export of raw ore, that will not work,” Mr. Recidoro told reporters on the sidelines of the summit.

Miners have pointed out high power costs as a hindrance to competitiveness for downstream industries, as well as unpredictable government policy and high shipping costs.

Asked if downstreaming can be viable if investors are granted incentives, Mr. Recidoro said the benefits of such proposal will be reviewed.

“We need to study this. Off-hand, the easiest incentive to give would be Income Tax Holiday but there should also be assistance in terms of the power cost and the cost of transporting ore from one island to another,” Mr. Recidoro added.

“Other than that, there should be improvement in the red tape situation. In other countries, permits are easy to get,” he said.

Last month, legislators filed a bill that would require miners to secure a legislative franchise to operate. The bill also sought to ban the export of raw ore and mining in watersheds.

The CoMP said it has yet to the study the potential impact of the bill.

Earlier, Speaker Pantaleon D. Alvarez, one of the authors of the bill, said policies mandating mining firms to process or semi-process their mined ores before these commodities are exported will be a legislative priority of the government. — Janina C. Lim

Post-modern master, US poet Ashbery, 90

WASHINGTON – Pulitzer-prize winning poet John Ashbery, a post-modern American trailblazer, has died at age 90 in Hudson, New York, his family told US media Sunday.

The experimental vanguardist was sometimes accused of writing poems that were at times less than accessible to a wider audience.

“Well, I’m told that they’re not,” he said in a 2005 interview with NPR. “What they are is about the privacy of all of us, and the difficulty of our own thinking,” he said. Yet “they are, I think, accessible if anyone cares to access them.”

His twists in register or tone routinely were so swift as to leave heads spinning. Yet they left many pleasantly disconcerted.

Ashbery, who said he felt influenced by John Yeats, studied at Columbia University. The Rochester, New York native loved to mix everyday language and thoughts with elevated language.

His 1975 collection Self-Portrait in a Convex Mirror made history when he became the lone writer to earn three major accolades the same year for the same work: the Pulitzer in addition to a National Book Award and a National Book Critics Circle Award.

In 2012, Ashbery received the National Humanities Medal from then president Barack Obama. – AFP

The September 2017 deadline for the registration of Data Protection Officers

Republic Act No. 10173, or the Data Privacy Act of 2012 (DPA) was enacted in 2012 to regulate the processing of personal data by any natural and juridical person in the government or private sector. These data include personal information, sensitive personal information, and privileged information.

Under the law, personal information controllers and personal information processors must register their data processing systems and automated processing operations with the National Privacy Commission (NPC). The NPC Circular No. 17-01 mentions two (2) phases of the registration process and their respective deadlines:

1. Phase I — the registration of a Data Protection Officer (DPO) on or before Sept. 9; and,

2. Phase II — the registration of data processing systems and automated processing operations on or before March 8, 2018.

For the Sept. 9 deadline, a personal information controller or personal information processor in the private sector, through its DPO, must accomplish the prescribed application form and submit it to the NPC with the following supporting documents:

1. Duly notarized Secretary’s Certificate or any other document authorizing the appointment of the DPO;

2. Certificate of Registration (SEC Certificate, DTI Certification of Business Name or Sole Proprietorship) or any similar document; and/or

3. Franchise, license to operate, or any similar document.

(For a copy of the prescribed application form and for more details on the supporting documents, please visit the NPC Web site at https://register.privacy.gov.ph/Registry.)

The DPO shall be accountable for ensuring compliance by the company of data privacy laws and regulations. He or she must be a full-time, organic employee of the personal information controller or personal information processor and should ideally be holding a regular or permanent position. Where the employment of the DPO is based on a contract, the term or duration thereof should at least be two (2) years to ensure stability.

The DPO should have expertise in relevant privacy or data protection policies and practices. He or she should have sufficient understanding of the processing operations being carried out by the personal information controller or personal information processor including the latter’s information systems, data security, and data protection needs. The DPO must have useful knowledge of the sector or field of the personal information controller or personal information processor, and the latter’s internal structure, policies, and processes.

The DPO must discharge his or her function with a degree of independence and autonomy. While it appears that a DPO may hold such position concurrently with another position, it should not be in a conflict of interest situation in performing his or her functions as the DPO. Moreover, the DPO shall be bound by secrecy or confidentiality in the performance of his or her functions.

After registering the DPO, personal information controllers and personal information processors can now continue with their compliance with the DPA according to the road map suggested by the NPC by carrying out the following:

• Conducting a Privacy Impact Assessment;

• Creating a Privacy Management Program and developing a Privacy Manual;

• Implementing Privacy and Data Protection Measures; and,

• Regularly exercising Breach Protection Measures.

The abovementioned steps will, in turn, facilitate their compliance with the next phase of the registration process, which is the registration of data processing systems and automated processing operations, the deadline for which is March 8, 2018.

The foregoing exercises are for the purpose of protecting the rights of individuals from the unauthorized processing, access, disposal, or other form of unlawful use of personal data whether it be regular personal information, sensitive personal information, and privileged information.

The DPA enumerates these rights of data subjects which include: the right to be informed; the right to object; the right to access; the right to rectification; the right to erasure or blocking; and the right to damages.

Complying with the DPA will, ultimately, uphold the State policy declared by the DPA which is the protection of the right to privacy and communication while ensuring the free flow of information to promote innovation and growth.

Noelle Jenina Francesca E. Buan is an Associate of the Intellectual Property Department at the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

Putin warns of ‘global catastrophe’ in Pyongyang nuclear impasse

XIAMEN — Russian President Vladimir Putin warned Tuesday of a global “catastrophe” unless a diplomatic solution over North Korea is reached, saying imposing further sanctions on Pyongyang would be useless.

Mr. Putin’s comments, following an international summit in China, came after the United States called for the “strongest possible measures” against North Korea for detonating what it called a hydrogen bomb on Sunday.

The announcement and North Korea’s claim that it could mount the warhead on a missile, dramatically upped the stakes in Pyongyang’s standoff with the international community over its banned weapons programs.

Mr. Putin said Russia “condemns” North Korea’s actions as “provocative.”

“But resorting to just any sanctions in this situation is useless and inefficient,” he told reporters in the Chinese city of Xiamen following the annual summit of the five-nation BRICS club of emerging economies.

Mr. Putin called for dialogue on the crisis and warned against other actions that could cause the situation to escalate.

“All of this can lead to a global planetary catastrophe and a great number of victims,” he said. — AFP

Gokongwei, Uy lead awardees at ASEAN Business Awards

TOP FILIPINO businessmen, including John L. Gokongwei, Jr. and Dennis A. Uy, will be honored at the ASEAN Business Awards on Wednesday evening.

With the Philippines’ chairmanship of the regional bloc’s 50th year, the ASEAN-Business Advisory Council, led by current Chair Joey Concepcion, will unveil 47 ASEAN Business Awardees, the biggest batch ever. Three new categories, namely the Most Promising, Inclusive Business, and Legacy Awards, will also be introduced.

More than 900 guests with 400 delegates from Southeast Asia are expected to attend the awarding ceremony at Solaire Resort and Casino Manila, Entertainment City.

Mr. Gokongwei, founder of JG Summit Holdings, Inc., is one of eight recipients of the Legacy Award. The Legacy Award is given to an “iconic entrepreneur of each ASEAN Member State who sets the standard of excellence in doing business.”

Other Legacy awardees are United Overseas Bank Singapore Chairman Emeritus Wee Cho Yaw, Silverlake Axis Malaysia founder and Group Executive Chairman Goh Peng Ooi, Brunei’s Adinin Group of Companies managing director Haji Musa Bin Hj Adnin, Laos’ EDL Generation Public Company Chief Rattana Pathomvan, Thailand’s Srichiengmai Industry Co. Managing Director Sakchai Unchittikul, and Vietnam’s BRG Group Head Le Thu Thuy.

Davao-based businessman Dennis A. Uy, founder and chairman of Udenna Corp., is also set to receive the Young Entrepreneur Award.

Teodoro Ferrer, president of Erikagen, Inc. — the company behind Generika Drugstore, will also receive the Inclusive Business Award. Erikagen was acquired by AC Health, a subsidiary of Ayala Corp. in 2015. The Inclusive Business Award is given to the enterprise with “an exemplary business model geared towards serving or incorporating low-lying communities into their supply chain.”

Other Filipino businessmen who will receive awards are Lamoiyan Corp. CEO President Cecilio Pedro — SME Excellence Award for Corporate Social Responsibility; Bernie H. Liu, chairman and CEO of Golden ABC, Inc. — Priority Integration Sector Excellence Award for Retail; Destileria Limtuaco & Co. President Olivia Limpe-Aw — Priority Integration Sector Excellence Award for Agri Food; and Nature’s Legacy Eximport President and CEO Peter Delantar — Priority Integration Sector Excellence Award for Wood-based.

Since 2007, there have been a total of 122 recipients of the ASEAN Business Award, with 37 awardees last year.