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Hyundai IONIQ 5 N charges on with 2024 World Performance Car award victory

IONIQ 5 N named 2024 World Performance Car, signaling fourth major victory for all-electric IONIQ 5 lineup in the last three years

Hyundai Motor Company continued its winning streak at the World Car Awards with the IONIQ 5 N high-performance electric vehicle (EV) named the 2024 World Performance Car. This is Hyundai IONIQ 5 lineup’s fourth major World Car Awards win in the last three years. Today’s victory solidifies IONIQ 5 N’s position as a frontrunner in the market as it continues to outpace EV rivals with its outstanding high-performance technology.

“We are thrilled and honored to receive the prestigious World Performance Car award for our IONIQ 5 N,” said Jaehoon Chang, President and CEO of Hyundai Motor Company. “This recognition is a testament to Hyundai’s commitment to pushing the boundaries of electric performance and innovation. It is truly gratifying to see our efforts rewarded with a total of seven World Car Awards titles in the last three years. We are proud to continue our winning streak and solidify Hyundai’s position as a leader in the global EV industry.”

World Car Awards announced the winners of this year’s competition at a ceremony during the 2024 New York International Auto Show (NYIAS). Hyundai Motor’s many nominations reflect its growing stature on the global stage and build on its past success at the World Car Awards. The brand’s IONIQ 5 and IONIQ 6 took back-to-back triple victories in 2022 and 2023 in the World Car, World Electric Vehicle and World Car Design categories.

“On behalf of the entire N team, it’s very gratifying to receive this well-earned recognition from the prestigious World Car Awards jury,” said José Muñoz, President and Global COO of Hyundai Motor Company. “We dedicate this amazing award to our passionate customers who appreciate high-performance vehicles, and we pledge to continue to deliver vehicles that excite and inspire. We are thrilled to lead the charge in this new era of electric performance vehicles and are committed to continually challenging the limits of engineering possibilities for smart mobility.”

Introduced in July 2023 as Hyundai N’s first EV, IONIQ 5 N represents a new segment of driver-focused high-performance EVs through new technologies and elevated racetrack capability, signaling the first step in N’s electrification strategy. It combines the standard IONIQ 5’s Electric Global Modular Platform (E-GMP) with N’s motorsport-bred technologies and leverages N’s expertise from electrified ‘Rolling Labs’ to maximize the EV’s high-performance capabilities. IONIQ 5 N has been widely praised in the media as ‘groundbreaking’, a ‘game-changer’, and the ‘benchmark’ for high-performance EVs. IONIQ 5 N also won Top Gear’s 2023 Car of the Year Award and set the fastest electric SUV lap time at the Nürburgring Nordschleife by Germany’s ‘Sport Auto’.

“IONIQ 5 N represents a defining moment for Hyundai N and our electrification strategy. By combining our E-GMP platform with N’s motorsport expertise, we have created a groundbreaking high-performance EV that has set a new benchmark in the industry,” said Till Wartenberg, Vice President and Head of N Brand & Motorsport at Hyundai Motor Company. “The accolades and recognition we have received validate our commitment to delivering innovative, driver-focused electric vehicles. With IONIQ 5 N, we are not just redefining what a performance car is, but also shaping the future of electric driving fun.” 

World Car Awards is an annual event that sees 100 international jurors across 29 countries test-drive and vote on a field of eligible vehicles.

 


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How PSEi member stocks performed — April 3, 2024

Here’s a quick glance at how PSEi stocks fared on Wednesday, April 3, 2024.


Philippines prepared to respond to China meddling in resupply missions

BRP SIERRA MADRE, a marooned transport ship which Philippine Marines live in as a military outpost, sits on the disputed Second Thomas Shoal, part of the Spratly Islands in the South China Sea. — REUTERS

THE PHILIPPINES is prepared to respond to China’s attempts to foil its resupply missions in the South China Sea, a top security official said on Wednesday, adding that the operations would be adjusted to counter Beijing’s conduct in the waterway.

Jonathan Malaya, the spokesman of the National Security Council, said the Philippines would keep its position at Second Thomas Shoal and there would be no letup in resupply missions to a handful of Filipino soldiers stationed on a grounded warship there.

“Our commitment to maintain BRP Sierra Madre will always be there, so any attempt by China to interfere with resupply missions will be met by the Philippines in a fashion that protects our troops,” he told a maritime forum.

Mr. Malaya reiterated that the countermeasures announced by Philippine President Ferdinand R. Marcos, Jr. last week against “aggressive” actions by China’s coast guard would be “multi-dimensional” and not solely military in nature.

These measures include making “changes and adjustments” to Philippine resupply missions and operations in the South China Sea, he said without elaborating, citing security concerns.

Echoing an earlier call by the Philippine Defense secretary for the public not to fall victim to Chinese propaganda, Mr. Malaya warned of “foreign malign influence” meant to weaken the Philippines.

“We have seen that they are working here through their surrogates or if we may call them amplifiers, because there are definitely Chinese narratives which run counter to the truth,” he added.

The Chinese Embassy in Manila did not immediately reply to a request for comment.

The Philippines and China have had a series of maritime run-ins, including water cannon use and heated verbal exchanges that has triggered concern about an escalation at sea.

China claims almost the entire South China Sea as its territory, policed by an armada of coastguard vessels, some more than 1,000 km (620 miles) from its mainland. China has maintained its responses have been appropriate in the face of Philippine encroachment.

In 2016, the Permanent Court of Arbitration in the Hague said China’s claims in the South China Sea had no legal basis, a decision Beijing has rejected.

The row comes at a time when the Philippines and United States are deepening military ties, frustrating China, which sees Washington as interfering in its back yard.

Mr. Marcos will meet his American and Japanese counterparts at a three-way summit in Washington on April 11, and Mr. Malaya said a “big aspect” of their discussions would be on security.

Also on Wednesday, a special Senate committee approved a bill that seeks to set up naval outposts in the South China Sea to assert Philippine sovereignty.

Under Senate Bill No. 654, the country will set up forward operating bases — small-scale naval and military facilities that can serve as potential sites for future upgrade and expansion “for national security purposes.”

It allots P1 billion for 12 possible outposts including in Busuanga in Palawan province, Subic Bay in Zambales and Mavulis Island in Batanes. At Wednesday’s hearing, the Philippine Navy sought 13 more bases to be built in the South China Sea.

The Senate special committee on Philippine Maritime and Admiralty Zones switched to a closed-door hearing to discuss the reason for the Navy’s proposal.

‘ACT OF TREASON’
Meanwhile, Senator Ana Theresia N. Hontiveros-Baraquel on April 2 filed a resolution seeking to investigate the so-called gentleman’s agreement with China under ex-President Rodrigo R. Duterte to keep the status quo at Second Thomas Shoal, including barring repairs to BRP Sierra Madre.

The agreement is “tantamount to a surrender of the Philippines’ sovereignty and an act of treason,” she said in Senate Resolution No. 982.

Ex- presidential spokesman Herminio L. Roque earlier said Mr. Duterte had made deal with China not to bring building and repair materials to troops stationed at the World War II-era ship at Second Thomas Shoal.

“While China, in any case, will most likely attack our resupply missions en route to Ayungin (Second Thomas Shoal), this sham of an agreement only gave Beijing more ammunition to assert her baseless claims,” she said in a statement.

China’s Foreign Ministry earlier said a March 23 Philippine resupply mission had tried to transport building materials to the grounded ship.

The Senate resolution called on Mr. Roque to give more details of the deal and how it was brokered.

Ms. Hontiveros-Baraquel has said the deal was not surprising given Mr. Duterte’s foreign policy pivot to China.

“Whatever foreign policy direction former President Rodrigo R. Duterte took in his administration is his exclusive prerogative as chief architect of foreign policy,” Mr. Roque said in a statement in response to the proposed probe.

He said describing the deal as “treasonous” showed the senator’s “obvious gross ignorance of the law.” Mr. Roque had said the deal would not bind the Marcos government because it is not a treaty. — John Victor D. Ordoñez with Reuters

Philippine pertussis deaths rise to 49, mostly children

PHILSTAR

PHILIPPINE deaths from pertussis or whooping cough have risen to 49 who were mostly children, health authorities said on Tuesday night.

In a statement, the Department of Health (DoH) said it had logged 862 cases of pertussis as of March 23.

“This sharp rise is also being seen in other countries such as the United Kingdom in Europe, where 553 cases were recorded in England for January 2024 alone,” it said in a statement.

Among regions, Mimaropa logged the biggest number of cases with 187, followed by Metro Manila (158), Central Luzon (132), Central Visayas (121) and Western Visayas (72).

Of those affected, 79% were less than five years old. Two-thirds were either unvaccinated or did not know their vaccination history, DoH said.

People aged 20 and older accounted for only 4% of the cases.

The agency said it’s “cautious in interpreting trends as the number of cases may still change as there may be late consultations and reports.”

“Furthermore, the effects of increasing immunization efforts to stem the outbreak may not be seen in the data until four to six weeks after they are started,” it added.

Pertussis or whooping cough, a highly contagious bacterial respiratory infection that can be treated by antibiotics, causes influenza-like symptoms such as mild fever, colds and coughs seven to 10 weeks after exposure. In typical cases, it may develop into a “characteristic hacking cough.”

Pertussis is locally known as ubong-dalahit or tuspirina.

The Philippine College of Physicians has expressed “deep concern” over rising pertussis cases, urging the local medical community and local governments to help boost the country’s vaccination coverage.

“Studies have consistently shown that the pertussis vaccine significantly decreases the incidence of pertussis by over 92% and decreases the mortality rate by 97%,” it said in a position paper.

It warned that the illness threatens infants and young children who are at risk of severe symptoms and life-threatening complications.

Teens and adults may experience milder symptoms, but those with pre-existing health conditions and are unvaccinated can suffer from severe illness, it said.

“Early diagnosis and treatment are key to improving patient outcomes and reducing transmission.”

The Health department said it is working with local governments to break transmission.  “Vaccines are available, and more have been ordered.”

Infants as young as six weeks may be given the vaccine against diphtheria, pertussis and tetanus for free at government health centers.

“Children from one to six years of age may get a booster dose,” it said, adding that older children and adults should consult a doctor for advice on the appropriate vaccine.

“Pregnant women may ask about the Tdap vaccine, which allows for protection of their soon to be born babies against pertussis.”  Kyle Aristophere T. Atienza

Phivolcs lifts tsunami warning, sees no sea disturbance

SABTANG ISLAND, BATANES — SAMARIA-UNSPLASH

THE PHILIPPINE Institute of Volcanology and Seismology (Phivolcs) canceled a tsunami warning it had issued after a magnitude 7.4 earthquake rocked Taiwan on Wednesday.

“Based on available data of our sea level monitoring stations facing the epicentral area, no significant sea level disturbances have been recorded since 7:58 a.m. up until this cancellation,” it said in a 10 a.m. advisory.

“With this, any effects due to the tsunami warning have largely passed.”

The agency earlier warned that the tsunami could hit the Batanes Group of Islands, Cagayan, llocos Norte and Isabela. It said the first tsunami could arrive between 08:33 a.m. and 10:33 a.m.

The Department of Interior and Local Government said that as of 10:30 a.m., local governments in northern Luzon had not reported a rise in water levels.

Towns in northern Luzon took action after the initial warning from the seismology agency. The Cagayan Valley Disaster Risk Reduction and Management Council ordered residents in coastal areas to move to higher ground.

The Taiwan quake, the strongest in 25 years, killed at least seven people and injured more than 700, according to its fire bureau.

Taiwan is just 376 kilometers away from the northernmost Philippine province of Batanes.

“Rest assured, our Department of Migrant Workers is diligently ensuring the safety of the 159,480 Filipinos currently residing in Taiwan,” Philippine President Ferdinand R. Marcos, Jr. said in an X post.

“We stand ready to assist and support our fellow Filipinos in Taiwan in any way possible during this difficult period.”

No Filipino was killed or hurt in the earthquake, Silvestre H. Bello III, head of the Manila Economic and Cultural Office (MECO) in Taiwan, said in a statement. — Kyle Aristophere T. Atienza

No opposition figure enters ‘Magic 12’ survey for next year’s senatorial vote

PHILIPPINE STAR/KRIZ JOHN ROZALES

By Kyle Aristophere T. Atienza, Reporter

NOT a single politician allied to the opposition camp entered the so-called Magic 12 for next year’s Senate race in the latest Pulse Asia Research, Inc. survey.

ACT-CIS Rep. Erwin T. Tulfo, a Cabinet official under the Duterte administration, topped Pulse Asia’s survey of 1,200 adult Filipinos from Mar. 6 to 10, with 57.1 percentage points.

He was followed by former Senate President Vicente “Tito” Sotto III with (51.8) and former President Rodrigo R. Duterte (47.7), Senator Christopher Lawrence “Bong” T. Go (44.2), Senator Pilar Juliana “Pia” S. Cayetano (37.7), and former Senator Emmanuel “Manny” D. Pacquiao (33.7).

Also included in the Magic 12 were Senator Ronald “Bato” Dela Rosa, Senator Maria Imelda “Imee” R. Marcos, former Manila Mayor Francisco “Isko” D. Moreno, broadcaster Ben Tulfo, Senator Ramon Revilla Jr., and Makati Mayor Abby Binay.

Just outside the top 12 were former Senator Panfilo M. Lacson, television personality Wilfredo “Willie” B. Revillame, Senator Manuel M. Lapid, and cardiologist Willie Ong.

They were followed by former senators Francis “Kiko” N. Pangilinan, Ralph G. Recto, Gregorio “Gringo” Honasan, and Paolo Benigno “Bam” A. Aquino, IV.

Following them were Senator Francis N. Tolentino, ex-senator Franklin M. Drilon, Defense Secretary Gilberto C. Teodoro Jr., and former senator Richard J. Gordon.  

LP spokesperson and former senator Leila M. de Lima said in February Mr. Pangilinan, Mr. Aquino, and human rights lawyer Jose Manuel “Chel” I. Diokno “intend to be opposition candidates” in next year’s midterm polls.

‘CHA-CHA’ BLAMED
Meanwhile, a decline in Pulse Asia’s latest public trust and performance ratings of President Ferdinand R. Marcos, Jr., Vice President Sara Z. Duterte-Carpio, and Speaker of the House Ferdinand Martin G. Romualdez could be a backlash of the government’s push for Charter change or “Cha-cha,” a lawmaker said.

Party-list Rep. France L. Castro, in a statement on Wednesday, said the people’s dislike for amending the 1987 Constitution caused the top three officials’ ratings to suffer, dropping by as much as 16%.

Citing the same pollster’s data last month that showed seven out of 10 Filipinos not seeing the need for “Cha-cha,” Ms. Castro said the survey results released this week had Mr. Marcos’ trust and performance ratings drop by 16% and 13%, respectively

“It just goes to show that an overwhelming majority of Filipinos are against ‘Cha-cha’ in whatever form,” she said. “So, it would be best for the Marcos Jr. administration to stop wasting time and resources on it and drop it now.”

Mr. Romualdez — who has openly supported amending the Constitution — had his trust and performance numbers drop by 9% and 8%, respectively. In both categories, Ms. Duterte-Carpio’s ratings also dropped by 7%.

Only Senate President Juan Miguel F. Zubiri marked an increase in the poll, gaining 2% of the public’s trust and 3% more viewed his performance positively.

Ateneo de Manila University Political Science Lecturer Hansley A. Juliano explained that Mr. Zubiri’s marginal increase in public approval could have stemmed from the Senate’s critical take on “Cha-cha.”

For those officials whose public view took a hit, Mr. Juliano said: “When a politician doesn’t show any dynamism or novelty in policymaking, advocacy or response, this usually happens.”

“After nearly two years in office their political positions are now predictable and they haven’t exactly shown genuine flexibility in most issues,” he added.

Mr. Juliano said Mr. Marcos’ public approval could increase in the next quarter cycle of the survey, depending on the effectiveness of his campaign to protect the maritime territory and interests of the Philippines. — with a report from Kenneth Christiane L. Basilio

MMDA ban may affect mobility

PHILIPPINE STAR/ RUSSEL PALMA

THE METROPOLITAN Manila Development Authority’s (MMDA) decision to ban light vehicles from traversing national roads come April 15 will worsen mobility for ordinary Filipinos in the capital region, a transportation advocate said on Wednesday.

“The Government has failed to answer basic transport needs of Filipinos: from much-needed reform for road-based transportation (ie. jeepneys, PUVMP) to the lack of proper infrastructure to promote and support active transportation (ie. walking, biking, etc.),” AltMobility PH Director Ira Cruz told BusinessWorld in a Viber message.

“So, the popularity of light electric vehicles and personal mobility devices is one of the ways Filipinos are responding to their mobility needs despite the shortcomings of [the] Government,” he added.

He adds the popularity of e-trikes is a symptom of the government’s failure to provide the basic mobility needs to Filipinos.

“As ordinary Filipinos look for solutions, it is unacceptable for the Government to focus its energy on restrictions rather than solutions,” he said.

Vehicles included in the ban are tricycles, push carts, pedicabs, kuligligs, e-bikes, e-trikes, and light electric vehicles. They are also forbidden from traversing circumferential and radial roads in Metro Manila.

Acting MMDA Chairman Romando S. Artes said the “proliferation of e-vehicles” pushed the agency to regulate and penalize those using major roads since they pose hazards to motorists.

The MMDA recorded 2,829 accidents in 2022 that involved bikes, e-bikes, and pedicabs. — Chloe Mari A. Hufana

Senators call for stricter DENR

CAPTAIN’S PEAK RESORT in Sagbayan, Bohol — SCREENGRAB FROM REN THE ADVENTURER

SENATORS have urged the Department of Environment and Natural Resources (DENR) to impose stricter measures against entities putting up businesses within protected areas, citing risks to the environment.

“While the Philippine government has established a robust framework of policies, law, and regulations for the protection of our protected areas, there appears to be a deficiency in their implementation,” Senator Cynthia A. Villar told a hearing looking into resorts set up within the Chocolate Hills in Bohol and Mount Apo Natural Park in central Mindanao.

The country has 248 protected areas under the Expanded National Integrated Protected Areas System Act of 1992.

A video of the Captain’s Peak Resort, which is in the middle of the hills, went viral on social media last week, drawing flak from environmental groups and advocates.

Senator Rafael T. Tulfo earlier told the plenary that mountaineering groups had reported several resorts operating within the Mount Apo National Reserve, citing the need to probe why these were being allowed. 

At the hearing, he questioned the DENR’s freedom of information manual that bars the agency from disclosing the list of applicants for environmental compliance certificates and mining.

“The DENR is the agency that is mandated to protect and promote our environment but due to the recent events, this agency is no longer doing its job and I considered it as bantay salakay (a betrayal),” Mr. Tulfo said.

The National Water Resources Board on March 20 ordered the Bohol resort to stop using deep wells without a permit.

The DENR said last month it had ordered the closure of the Captain’s Peak resort in September for operating without an environmental compliance certificate.

“Taking action now is essential, and this may well start with conducting a thorough survey, inventory, and recording of every structure in all our protected areas… to identify and rectify any inconsistencies with their intended protection,” Ms. Villar said.

“We have to be strict now because if they will come, more (resorts) will be built at after that there won’t be a use for legislated protected areas,” she said in mixed English and Filipino at a separate news briefing. — John Victor D. Ordoñez

Foreign investors’ effect disputed

PHILIPPINE STAR/WALTER BOLLOZOS

A FILIPINO labor leader disputed on Wednesday the popular belief among Filipinos that further opening the economy to usher in more foreign investors would guarantee more jobs and better salaries in the country.

“Amending the economic provisions of the Constitution does not necessarily guarantee the creation of quality jobs,” Federation of Free Workers (FFW) president and labor lawyer Jose Sonny G. Matula told BusinessWorld in a Viber message.

Mr. Matula was reacting to a recent poll by Pulse Asia with international think tank, Stratbase Institute, that 64% or more than six in 10 Filipinos believe that more foreign-owned companies in the country would mean “an increase in high-quality jobs with high salaries and better benefits.”

“There are other factors in investment, such as infrastructure, cost of power, consistency of policy, corruption, and good governance, that significantly influence the investment climate and job quality,” he stressed.

More than half of the 1,200 respondents in the survey also believe that through economic Charter change or “Cha-cha,” “services to stakeholders/customers will be better” and that prices of goods and services will also fall.

In terms of factors that hinder the entry of foreign investments, the poll showed that 56% of the respondents identified “complicated rules and regulations like red tape, changes in government policies and regulations;” 55% blamed existing laws that restrict foreign ownership; 46% believe it is corruption; and 40% said it was due to lack in transportation infrastructure. — Chloe Mari A. Hufana

Villagers flee fighting in Abra

BAGUIO CITY — More than a hundred families from two villages in Pilar town in Abra fled their homes after government troopers fought with communist rebels before noon and lasted until dusk on Tuesday.

Pilar Mayor Tyrone Beroña said 137 families (483 individuals) are now temporarily staying at the municipal gym while 6 families (23 individuals) sought refuge with their relatives.

All evacuees were immediately provided with emergency and relief goods by the mayor and the Department of Social Welfare and Development (DSWD)-Cordillera. Mr. Beroña suspended classes in elementary and high school on Wednesday.

Army Major Rigor Pamittan, spokesperson of the Philippine Army’s 5th Infantry Division, said soldiers came across 15 communist rebels from the Kilusang Larangang Gerilya-North Abra by chance around around noon on Tuesday, sparking the armed encounter in which an army corporal was wounded. 

Mr. Beroña said the rebels were only on transit through the town and must be headed for Ilocos Sur. — Artemio A. Dumlao

Court orders arrest of Quiboloy

PHILSTAR FILE PHOTO

A DAVAO court issued an arrest warrant on Monday against televangelist Apollo C. Quiboloy and five of his alleged accomplices in a child abuse case.

“The Court recalls it issued an Order dated March 14, 2024, wherein upon judicious examination and perusal of information, it found probable cause to issue a warrant of arrest,” Judge Dante A. Baguio of the Davao Regional Trial Court Branch 12 wrote in the order.

Mr. Quiboloy, the founder of the Kingdom of Jesus Christ, is charged with allegations of child and sexual abuse, and human trafficking in Davao and Pasig Courts. He and his cohorts are also facing a Qualified Trafficking in Persons charge.

The court stated that it received no resolution from Mr. Quiboloy’s camp to the Motion for Reconsideration for his indictment from the Department of Justice (DoJ) last March 5. 

Reacting to the development, Senator Ana Theresia “Risa” N. Hontiveros, whose public hearings had been snubbed by the televangelist, said: “Apollo Quiboloy’s happy days are numbered. Almost all institutions in the Philippines are moving to hold him accountable.”

The National Bureau of Investigation (NBI) arrested on Wednesday three of Mr. Quiboloy’s co-accused, including his alleged bodyguard and driver Cresente Canada. Meanwhile, the two others named in the complaint surrendered after learning about the issuance of the arrest warrant, the NBI added. Chloe Mari A. Hufana

Sandigan denies motions to dismiss Malampaya graft raps

PHILSTAR FILE PHOTO

THE SANDIGANBAYAN has rejected the motions for reconsideration (MR) filed by Palawan provincial government officials in their bid to be absolved of charges related to the 2008 Malampaya fund scam.

In a 13-page consolidated resolution dated April 2, 2024, the Sandiganbayan Second Division denied all the motions that sought to review and/or reverse the resolutions issued by the anti-graft court last January, which already denied their bids to have the graft cases against them dismissed.

The resolutions handed down last January junked the separate bids of Palawan provincial engineers Romeo C. Llacuna and Bernard I. Zambales, and state auditing agency senior technical audit specialist Ronelo O. del Socorro to have the graft raps against them dropped on various grounds.

“All things considered, there being no new or additional arguments or compelling reasons raised by the accused-movants to warrant a reconsideration… the denial of their motions… for lack of merit is in order,” read part of the consolidated resolution penned by Associate Justice Arthur O. Malabaguio.

The Malampaya fund scam, which entailed the alleged misappropriation of Palawan’s royalty shares amounting to over P1.5 billion, had prompted that the Office of the Ombudsman to file over 150 graft cases against dozens of government officials and employees, among them the accused-movants in this Sandiganbayan resolution.

Associate Justices Oscar C. Herrera, Jr. and Edgardo M. Caldona concurred with the resolution denying the MRs. The resolution is posted in the official website of the Sandiganbayan. – Kenneth Christiane L. Basilio