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COVID-shaming pits neighbor against neighbor as tensions increase in locked-down Shanghai

RESIDENTS line up for nucleic acid tests during a lockdown in Shanghai, China, April 17. — REUTERS

SHANGHAI — The tensions of lockdown have exposed divisions among Shanghai residents, pitting young against old, locals against outsiders, and above all, COVID-negative against COVID-positive people.

Shanghai’s 25 million people, most of whom live in apartment blocks, have forged new communal bonds during the city’s coronavirus outbreak, through barter and group buying and setting up food-sharing stations.

But with no end in sight to a lockdown that for some has lasted four weeks, frustrations are also mounting behind the shuttered gates of the city’s tower blocks, often playing out within WeChat message groups.

In one, conflict erupted when a woman who had been taken to centralized quarantine — where she tested negative — accused her neighbor of reporting her to authorities.

It is not unusual for test results to be shared and positive cases announced in building WeChat groups, as authorities try to get to grips with China’s largest outbreak since the virus was first identified in Wuhan in late 2019.

One US citizen was told she would be sent to a quarantine center after results from a mixed test, including hers, came back positive last week, sparking panic. Three others whose samples were in the batch were taken to quarantine, but her own at-home tests continued to be negative.

“In the group chats, they were saying things like, ‘oh are the positive people still here, are the positive people still here?’,” she said, declining to give her name.

Older residents, more vulnerable to coronavirus disease 2019 (COVID-19), have also been more likely to call for the immediate expulsion of positive cases from their compound.

“Because of the media’s exaggeration about the disease, and since old people have weaker immune systems, they are more afraid of the virus than young people,” said one resident who had seen this happen.

Another foreign resident, who only wanted to be identified as Alexy, was suspected by neighbors of being COVID-positive when his test result failed to upload to his health app.

His building’s management tried to block his family’s food deliveries unless they shared home test results with the rest of the residents — a demand that several Shanghai residents have said is widespread and violates privacy.

“They have no guidelines and CDC (Center for Disease Control) services are overwhelmed,” he said. “They felt invested with the most important mission of their life, being able to play doctor, policeman and judge at the same time.”

LOCKED-OUT
Some people were refused entry into their homes and ordered to stay in hotels after release from central quarantine, violating state guidelines.

Another foreign resident who tested positive said she was confined in her apartment rather than sent to central quarantine, much to the chagrin of her neighbors, who asked her to leave, tried to exclude her from group grocery orders and even demanded she make a formal apology.

One neighbor called her “foreign trash” while another spread lies about her mental health, and the residential committee was no help, she said.

“I saw screenshots of them telling the residents to continue calling to get me out,” she said, adding that she would move out as soon as she could. — Reuters

South Korea lifts most COVID precautions as new cases dip to two-month low

A MAN walks along a nearly empty street in Seoul, South Korea, July 12, 2022. — REUTERS

SEOUL  — South Korea lifted almost all of its COVID-19 precautions on Monday in a major step towards a return to normal life as the Omicron variant recedes and daily infections retreated to a more than two-month low of fewer than 50,000.

A midnight curfew on restaurants and other businesses was scrapped, along with a cap of 10 people allowed to gather. From next week, people will be allowed to eat snacks in cinemas and other indoor public facilities such as stadiums.

People are still required to wear masks, however, with the government planning to review whether to lift a rule for masks outdoors in two weeks.

The relaxation of the rules come as the number of coronavirus cases in South Korea fell to 47,743 on Monday, the lowest since Feb. 9, after hovering at more than 620,000 a day in mid-March.

Some rules, however, remain including mandatory quarantine for unvaccinated inbound travellers and negative PCR tests for the fully vaccinated.

South Korea has largely managed to limit deaths and critical cases through widespread vaccination, and it has scaled back the aggressive tracing and containment efforts that made it a mitigation success story from most of the first two years of the pandemic.

Nearly 87% of the 52 million population are fully vaccinated, with 64% having also had a booster, according to Korea Disease Control and Prevention Agency data.

In line with the easing of the rules, companies are gradually returning to their offices.

Most staff at giant steelmaker POSCO have returned to their offices this month, becoming one of the first major firms to bring people back.

LG Electronics said it had reduced the proportion of employees working from home to 30% from 50% from Monday, while scrapping a limit on the number of people allowed in meetings.

Samsung Electronics said it had yet to implement its back-to-office plan and the public sector is also awaiting new government guidelines.

The Bank of Korea, which has 30% of its head office staff working from home, is considering easing its guidelines, officials said.

The government had recommended workplaces with 300 or more employees adopt flexible working hours and have 10% of staff work from home. — Reuters

Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss

SRI LANKAN military officer lowers the national flag at the flag square in Colombo, Sri Lanka, March 23, 2021. — REUTERS

COLOMBO — Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines. 

President Gotabaya Rajapaksa’s government has come under growing pressure for its mishandling of the economy, and the country has suspended foreign debt payments in an effort to preserve its paltry foreign exchange reserves. 

On Monday, Sri Lanka will begin talks with the International Monetary Fund (IMF) for a loan program, even as it seeks help from other countries, including neighboring India, and China. 

HOW DID IT GET TO THIS?
Economic mismanagement by successive governments weakened Sri Lanka’s public finances, leaving its national expenditure in excess of its income, and the production of tradable goods and services at an inadequate level. 

The situation was exacerbated by deep tax cuts enacted by the Rajapaksa government soon after it took office in 2019, which came just months before the coronavirus disease 2019 (COVID-19) crisis. 

The pandemic wiped out parts of its economy — mainly the lucrative tourism industry — while an inflexible foreign exchange rate sapped remittances from its foreign workers. 

Rating agencies, concerned about government finances and its inability to repay large foreign debt, downgraded Sri Lanka’s credit ratings from 2020 onwards, eventually locking the country out of international financial markets. 

But to keep its economy afloat, the government still leaned heavily on its foreign exchange reserves, eroding them by more than 70% in two years. 

By March, Sri Lanka’s reserves stood at only $1.93 billion, insufficient to even cover a month of imports, and leading to spiraling shortages of everything from diesel to some food items. 

J.P. Morgan analysts estimate the country’s gross debt servicing would amount to $7 billion this year, with the current account deficit coming in around $3 billion. 

WHAT DID THE GOV’T DO?
Faced with a rapidly deteriorating economic environment, the Rajapaksa government chose to wait, instead of moving quickly and seeking help from the IMF and other sources. 

For months, opposition leaders and experts urged the government to act, but it held its ground, hoping for tourism to bounce back and remittances to recover. 

Newly appointed Finance Minister Ali Sabry told Reuters in an interview earlier this month that key officials within the government and Sri Lanka’s central bank did not understand the gravity of the problem and were reluctant to have the IMF step in. Mr. Sabry, along with a new central bank governor, was brought in as part of a new team to tackle the situation. 

But, aware of the brewing crisis, the government did seek help from countries, including India and China. Last December, the then finance minister traveled to New Delhi to arrange $1.9 billion in credit lines and swaps from India. 

A month later, President Rajapaksa asked China to restructure repayments on around $3.5 billion of debt owed to Beijing, which in late 2021 also provided Sri Lanka with a $1.5 billion yuan-denominated swap. 

WHAT HAPPENS NEXT?
Finance Minister Sabry will start talks with the IMF for a loan package of up to $3 billion over three years. 

An IMF program, which typically mandates fiscal discipline from borrowers, is also expected to help Sri Lanka draw assistance of another $1 billion from other multilateral agencies such as the World Bank and the Asian Development Bank. 

In all, the country needs around $3 billion in bridge financing over the next six months to help restore supplies of essential items including fuel and medicine. 

India is open to providing Sri Lanka with another $2 billion to reduce the country’s dependence on China, sources have told Reuters. 

Sri Lanka has also sought a further $500 million credit line from India for fuel. 

With China, too, the government is in discussions for a $1.5 billion credit line and a syndicated loan of up to $1 billion. Besides the swap last year, Beijing also extended a $1.3 billion syndicated loan to Sri Lanka at the start of the pandemic. — Reuters

Trucking group deploys smart device to monitor road behavior of drivers

PHILSTAR

A camera-equipped smart device that monitors driving behavior will be installed in about 1,300 trucks belonging to the Inland Haulers and Truckers Association (INHTA). The camera will initially be placed in five trucks operated by Quicktrans Cargo Moving Inc. by the end of April.

As part of DRIVER PH (Drivers Roadworthiness Improvement Verification Education and Readiness for the Philippine Logistics Industry), data on speed, location, and temperature gathered by the smart device will be analyzed through machine learning and used to flag possible traffic rule violations.  

“One important aspect of the project is its mobile and web-based application, which helps educate drivers through video tutorials and digitalized lessons,” said Felizardo C. Reyes, Jr., DRIVER PH project manager and computer science and information technology program chair of the Technological Institute of the Philippines (TIP), which developed the device. “We want to professionalize them.”  

“Our drivers will know how to drive the right way. They will also learn about their rights on the road,” said Teddy S. Gervacio, Quicktrans chief executive officer, in the vernacular during a recent event organized by the Department of Science and Technology. “Truckers are movers of the economy.” 

He added that DRIVER PH will address the shortage of drivers with the skills needed to steer large vehicles.  

The Lobien Realty Group, in 2020, said that the Philippine logistics and trucking market is projected to become a P1 trillion market by 2023. It is forecasted to grow 8.2 to 8.8% between 2018 and 2024.   

DRIVER PH, a one-year project, was funded by the DoST Collaborative Research and Development to Leverage Philippine Economy (CRADLE) program.  

The Metro Manila Development Authority tallied an average of 178 total road crashes per day in 2020. In 2019, 15.33% of the total road accidents were truck-related.   

The Department of Justice and the Department of Health have noted that driver awareness and attitude can minimize traffic altercations and protect road users. —Patricia B. Mirasol

Ukraine completes questionnaire for EU membership — official

REUTERS

Ukraine has completed a questionnaire which will form a starting point for the European Union to decide on membership for Kyiv, Ihor Zhovkva, deputy head of President Volodymyr Zelenskyy’s office, said. 

European Commission (EU) President Ursula von der Leyen handed the questionnaire to Mr. Zelenskyy during her visit to Kyiv on April 8th, pledging a speedier start to Ukraine’s bid to become a member of the EU following Russia’s invasion of the country. 

“Today, I can say that the document has been completed by the Ukrainian side,” Mr. Zhovkva told the Ukrainian public broadcaster Sunday evening. 

The European Commission will need to issue a recommendation on Ukraine’s compliance with the necessary membership criteria, he added. 

“We expect the recommendation … to be positive, and then the ball will be on the side of the EU member states.” 

Mr. Zhovkva added that Ukraine expects to acquire the status of a candidate country for EU accession in June during a scheduled meeting of the European Council meeting. 

The European Council is to meet June 23–24, according to the Council’s schedule on its website. 

“Next, we will need to start accession talks. And once we hold those talks, we can already talk about Ukraine’s full membership in the EU,” Mr. Zhovkva said. — Reuters

Global Citizen seeks up to $1B for six sustainable ‘Impact’ funds

LONDON — Global Citizen, an international non-profit aiming to help end poverty, said on Monday it plans to launch six funds of up to $1 billion each focused on generating environmental and social impact in the developing world. 

The Global Citizen Impact Funds aim to help plug a large gap in funding for poorer countries struggling to meet the United Nations 2030 Sustainable Development Goals, which include providing access to clean water and fighting climate change. 

The world’s poorest countries need close to $400 billion annually in external finance to meet those goals, but currently get only a fraction of that, Global Citizen’s Chief Policy Officer Mick Sheldrick told Reuters. 

To help drive faster change, Global Citizen said its funds, created with partner NPX, would bring together philanthropists and investors using a financing model that it believes would prove scaleable quickly. 

It hopes to start raising donor money over the next six to nine months and is targeting at least $25 million for each fund, although most of the NGOs chosen to receive funding could scale quickly and absorb up to $1 billion in donor money. 

Under the model, investors, primarily funds with impact mandates, would give money to the NGO to help it expand its services, with the aim of hitting certain targets. If successful, and after the results have been independently verified by a third-party, the Global Citizen fund in question would release donor money to the NGO, to repay the investors. 

Through the process, the investors would receive a return on their capital of around 5–6%, the NGO would get an incentivization payment, while the donors would have the assurance that they would fund only initiatives that worked. 

“We really think it has the potential to be a groundbreaking outcomes-fund vehicle that could transform philanthropy,” Mr. Sheldrick said. “Our hope would be that it could, over time, lead to an upsurge in the amount of philanthropic capital that is available for SDG-related programs.” 

The NGOs selected include One Acre Fund, which supports smallholder farmers in Africa around climate action, including through planting and protecting more trees. 

Its target would be to support the survival of 44 million trees planted over four years, leading to 7.4 million tonnes of carbon being sequestered. If successful, the plan could scale to more than 1 billion trees over the next decade. 

The other funds will focus on detecting and treating malaria; improving literacy and numeracy for children in crisis settings; providing access to clean water; lifting marginalized women out of poverty; and improving food security. — Reuters

Shanghai targets lockdown turning point by Wednesday — sources

REUTERS

SHANGHAI — Shanghai has set a target to stop the spread of coronavirus disease 2019 (COVID-19) outside of quarantined areas by Wednesday, two people familiar with the matter said, which would allow the city to further ease its lockdown and start returning to normal life as public frustrations grow.

The target will require officials to accelerate COVID testing and the transfer of positive cases to quarantine centers, according to a speech by a local Communist Party official dated Saturday, a copy of which was seen by Reuters.

Ending community-level transmission has been a turning point for other Chinese localities that locked down, such as Shenzhen city which last month reopened public transport and let businesses go back to work shortly after achieving that target.

Shanghai has become the epicenter of China’s largest outbreak since the virus was first identified in Wuhan in late 2019, and has recorded more than 320,000 COVID infections since early March when its surge began.

Frustrated Shanghai residents have taken to social media to vent their anger at local authorities over difficulties sourcing food, lost income, separated families and poor conditions at central quarantine centers. Tensions have on occasion erupted into public protests or scuffles with police.

The Chinese economy and global supply chains are also feeling pinched by shuttered factories and transport bottlenecks in many parts of China hit by COVID-19 curbs.

Shanghai has already taken piecemeal steps to ease restrictions. State TV reported on Sunday that some supermarkets had reopened their doors to shoppers, although many residents expressed disbelief in social media postings. A Shanghai government-backed social media account said it was in one district in the outskirts.

TURNING POINT 

Shanghai’s new target of “zero-COVID at the community level” by April 20 was communicated in recent days to the city’s Communist Party cadres and organizations such as schools, according to the sources, who declined to be named as the information was not public.

China’s definition of zero-COVID status at the community level means that no new cases emerge outside quarantined areas.

A speech dated Saturday by the party secretary of the city’s Baoshan district described it as an order that had come as the city’s situation reached a “critical moment,” with growing public anxiety and food supply pressures.

“The State Council Working Group, the municipal party committee and municipal government have asked that the turning point of the epidemic should appear on the 17th and that zero-COVID status should be reached on the 20th,” Chen Jie said in the speech.

The Shanghai government and China’s State Council did not immediately respond to requests for comment. The Baoshan district government could not be reached by phone outside working hours on Sunday.

“This is a military order, there is no room for bargaining, we can only grit our teeth and fight for victory. It can also be said this is a total attack, a last-ditch battle to reverse the trend of the epidemic,” the speech said.

One Shanghai resident told Reuters her neighborhood committee sent out a notice on Sunday to residents that more workers and buses had been mobilized to speed up the transfer of positive cases in their compound to quarantine centers.

Images and videos circulated on Chinese social media on Saturday evening showed numerous buses lined up to take away long lines of people who users said had tested positive for COVID outside a town in Shanghai’s eastern Pudong district. Reuters was unable to verify the authenticity of the posts.

Of 23,643 new local infections Shanghai reported for Saturday, 722 were found outside quarantined areas, according to Wu Jinglei, director of Shanghai’s health commission. He told a news conference on Sunday that the figure had declined in the past two days.

BUSINESSES REOPENING 

China’s “dynamic clearance” approach to COVID control requires authorities to centrally quarantine all cases and isolate their close contacts.

Beijing authorities intervened in Shanghai in early April, after the financial hub failed to isolate COVID-19 despite locking the city down in stages. Chinese President Xi Jinping has insisted that China must not relax coronavirus measures, and must stick to an elimination approach.

Shanghai started locking down areas east of the Huangpu river on March 28, and extended the lockdown citywide on April 1. While it eased movement curbs on some residents last week, most businesses remain shut and public transport is suspended.

Business leaders have been increasingly outspoken about the toll of the lockdowns on the Chinese economy, with automakers warning they could be forced to stop production completely if their suppliers in Shanghai and neighboring areas could not resume work soon.

On Friday, China’s industry regulator said it had identified 666 companies in Shanghai in the semiconductor, automobile and medical sectors as priority firms that needed to resume work.

Late on Saturday, Shanghai authorities provided guidance on what measures firms should take to restart production in the city, such as stocking up on medical supplies and submitting COVID prevention plans for their factories.

Reuters has reported that Tesla is preparing to reopen its Shanghai factory on April 18.

SAIC Motor Corp, the Chinese partner of Volkswagen and General Motors, has said it is preparing to resume production and will start carrying out “stress tests” on Monday. — Reuters

Myanmar junta says 1,600 prisoners to be freed in holiday amnesty — sources

Police fire a water cannon at protesters rallying against the military coup and to demand the release of elected leader Aung San Suu Kyi, in Naypyitaw, Myanmar, Feb. 9, 2021. — Reuters/Stringer

Relatives of hundreds of prisoners gathered outside Myanmar’s Insein Prison on Sunday after the military government announced the release of 1,600 prisoners in an amnesty to mark the Southeast Asian nation’s new year. 

The number of prisoners released in the annual amnesty was a fraction of last year’s 23,000. It was unclear whether it would include jailed members of the civilian government overthrown in a Feb. 1, 2021, coup. 

A local reporter on the scene told Reuters that no political protesters had been released so far from Insein. 

Lieutenant General Aung Lin Dwe, a state secretary of the junta, signed a statement announcing “1,619 prisoners, including 42 detained foreigners, will be released under the Amnesty as part of the celebration of Myanmar’s new year, to bring joy for the people and address humanitarian concerns.” 

The military has arrested at least 13,282 people and killed 1,756 opponents since the coup, according to the Assistance Association of Political Prisoners (AAPP) activist group. 

Among those detained are the ousted government’s leader, Nobel laureate Aung San Suu Kyi, being held in the capital Naypyidaw, and her Australian economic adviser, Sean Turnell, who is in the Insein facility on the outskirts of Yangon. 

“The junta uses the political prisoners as hostages,” an AAPP spokesman told Reuters on Sunday. A spokesman for the junta, which has disputed AAPP’s figures, did not respond to a request for comment. 

Standing near plainclothes police on Sunday, nervous-looking families held placards with names of their loved ones, said the local reporter, who asked not to be named for security reasons. 

The mother of a 22-year-old protester arrested eight months ago told the reporter she was waiting outside Insein after her son wrote saying he might be released in an April amnesty. 

Another mother, whose police officer son was arrested in June for participating in the Civil Disobedience Movement against the junta, said she had waited outside the prison several times during previous amnesty periods. 

“I have a feeling he will be freed today,” she added, asking not to be named for fear of retaliation, the reporter said. — Reuters

[B-SIDE Podcast] Compassion in the workplace

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Creating a compassionate workplace starts at the top. In this B-Side episode, Vidya Srinivasan, vice president for Procter and Gamble’s Manila Global Business Services and Global External Reporting, explains to BusinessWorld reporter Patricia B. Mirasol how the multinational corporation embraces diversity and inclusion.

TAKEAWAYS

Leadership sets the tone. 

It’s the leadership that determines how compassionate and empathetic a workplace is.

“The leadership sets the tone… The tone at the top will tremendously help push programs,” said Ms. Srinivasan.

To foster an inclusive and supportive atmosphere, P&G has affinity networks — which connect employees based on similar interests or diversity aspects — such as GABLE (which stands for Gay, Ally, Bisexual, Lesbian, and Transgender Employees).

Its “Share the Care” policy, meanwhile, grants new parents at least eight weeks of fully paid leave (compared to the seven days of paternal leave mandated in the Philippines).

These efforts would be difficult to implement without the support of P&G’s top brass.

Mentors pave the way for future leaders. 

To grow, employees should seek out mentors as Ms. Srinivasan did.  Mentorship need not have a formal structure,  she added.

“You can tap someone’s shoulder and ask, ‘Can you be my mentor?’ Informal networking also helps a lot.”

Compassion is quantifiable through feedback. 

To gauge if its programs and policies are working, P&G conducts annual surveys.

“Feedback … defines the action plan,” said Ms. Srinivasan.

These surveys helped P&G “walk the talk” in closing the gender ratio gap which led to P&G being named Champion for the Gender Inclusive Workplace category in the 2021 UNWEP (United Nation’s Women’s Empowerment Principles) Awards. The organization has a gender ratio of 53% female and 47% male. In the senior management levels, the numbers are 54% female, 46% male.

Work-life balance solutions have to be flexible.

The aforementioned “Share the Care” policy also allows for flexibility: a parent chooses how to spend those eight weeks of parental leave — whether in a single go, or spread out — depending on their situation.

“[Flexibility] empowers our employees to be in the driver’s seat and drive balance in their lives,” said Ms. Srinivasan.

Situational mentoring sessions also acknowledge that each employee is unique.

To address traditional biases, include men in the conversation. 

“You can’t have this journey with only half the people,” Ms. Srinivasan pointed out.

P&G was able to turn their male employees into allies by facilitating workshop sessions, which turned into dialogues, and, eventually, action plans.

“There were many a-ha moments, as everyone started seeing from a different set of eyes,” Ms. Srinivasan said. “Acknowledgement is the first step.”

Recorded remotely in March 2022. Produced by Earl R. Lagundino and Sam L. Marcelo.

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UP-CIFAL Philippines leads the exploration of the presidential candidates’ governance agenda highlighting the UNSDGs

The University of the Philippines-Centre International de Formation des Autorités et Leaders or the International Center for Authorities and Leaders Philippines (UP-CIFAL Philippines), together with the UP System Public Affairs, invites you to “Leaders in Focus: Embedding Sustainable Development in the Governance Agenda of Candidates” on April 28, 2022 (Thursday) at 12:00 noon.

With the 2030 Agenda for Sustainable Development, local and national governments are responsible for context- and culture-specific integration of the 17 Sustainable Development Goals (SDGs) in national and local policies and strategies. Beyond being the implementer of the SDGs in the country, the United Nations (UN) also recognizes the national government as the catalyst for sustainable development and nation-building.

As the upcoming 2022 Philippine elections draw nearer, it is vital to provide an avenue to the country’s future leaders and elevate the discourse on their plans and prospects in relation to achieving the SDGs, reaching the furthest, and leaving no one behind.

“Leaders in Focus” brings in six presidential candidates to contribute to this goal through an insightful session. This public forum provides candidates a platform to expound on their SDG agenda and how they aim to promote and attain the targets of these goals in their leadership.

This event is free and open to the public via the official TVUP YouTube channel (www.youtube.com/TVUPph). You may also watch through the University of the Philippines YouTube channel (www.youtube.com/UniversityofthePhilippines1908) and UP-CIFAL Philippines YouTube channel (www.youtube.com/CIFALPhilippines).

 


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Filipino Fund, Inc. announces schedule of stockholders’ meeting

Click to enlarge.

URC discloses annual meeting of stockholders on May 11

UNIVERSAL ROBINA CORPORATION

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

MAY 11, 2022

1:00 P.M.

Notice is hereby given that the Annual Meeting of the Stockholders of UNIVERSAL ROBINA CORPORATION (the “Corporation”) will be held on Wednesday, May 11, 2022 at 1:00 P.M. in accordance with the relevant provisions of the By-Laws of the Corporation which allows meetings of the stockholders to be conducted by remote communication, subject to such guidelines as may be promulgated by the Securities and Exchange Commission.

Stockholders may view the livestream of the Meeting and download the Information Statement at the following web addresses:

The Agenda for the Meeting is as follows:

  • Proof of notice of the meeting and existence of a quorum.
  • Reading and approval of the Minutes of the Annual Meeting of the Stockholders held on May 13, 2021.
  • Presentation of annual report and approval of the financial statements for the preceding year.
  • Election of Board of Directors.
  • Appointment of External Auditor.
  • Ratification of the acts of the Board of Directors and its committees, officers, and management.
  • Consideration of such other matters as may properly come during the meeting.
  • Adjournment.

Only stockholders of record of the Corporation as of April 4, 2022 shall be entitled to vote.

Stockholders may cast their votes on or before May 4, 2022 on all matters requiring approval by: (a) accomplishing and submitting the proxy form; or (b) voting in absentia.

The procedures for attending the meeting via remote communication, submission of proxies, and for voting in absentia are explained in the Information Statement.

Proxies shall be sent via email to corporate.secretary@urc.com.ph or hard copies to the Office of the Corporate Secretary, 40F Robinsons Equitable Tower, ADB Avenue cor. Poveda Road, Ortigas Center, Pasig City. Validation of proxies shall be held on May 6, 2022. We are not soliciting proxies.

By Authority of the Chairman

By Authority of the Chairman

(signed)

MARIA CELIA H. FERNANDEZ-ESTAVILLO
Corporate Secretary

 

 


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