AEB readies warehouse management system for PHL

March 15, 2023 | 12:04 am

GERMAN logistics software company AEB is set to launch a new warehouse management system for the Philippines as part of its expansion efforts in the country.

“The Philippines is the first country that we’re launching it in. It’s the only country we’re launching it in at this point in time,” Frans Kok, general manager of AEB Asia-Pacific Pte. Ltd., said on the sidelines of a media briefing in Taguig City on Tuesday.

The new system is designed to manage warehouse operations and customize business processes for “next-level warehouse automation.”

“This will be launched in other countries at a later point in time,” Mr. Kok said in an interview.

“We have a significant customer base here using the previous generation software,” Mr. Kok said. “We felt that the Philippine market would really be able to use this solution.”

The launch will be on Wednesday at the Supply Chain Trilogy 2023 technology conference. Two customers are already awaiting the launch, he said.

“One is a large distributor of frozen meats and the other customer is a large distributor or storage facility of condiments. We are implementing the solution this year in Filipino companies,” Mr. Kok said.

This year, AEB is aiming to implement the new system in two to four companies, he said.

“But we’ve carefully picked these customers as we would not just implement the software but also learn from these implementations. We specifically picked these customers to work with as they could also give us the experience of the first said launches,” Mr. Kok said.

Mr. Kok also said that AEB’s new warehouse management system could help the country’s food security efforts because of streamlined logistics.

“Things can be stored longer. The quality can be maintained. For the farmer, there’s a higher payback in return. But also, for the Filipino consumer, it means that the price is much more stable because it’s not that much influenced by the season,” he said.

The Supply Chain Trilogy 2023 conference at BGC Arts Center in Taguig City will showcase the latest trends in supply chain and intralogistics, warehouse automation, productivity solutions, material handling solutions, warehouse management systems, and supply chain sustainability.

The event will also feature the latest technology, innovation and strategies, the future of the cold chain industry, government initiatives in supply chain and logistics, and practical insights and case studies.

“This conference aims to establish a platform that provides fresh insights, industry updates, and the latest technology to businesses, supply chain leaders, and logistics professionals to drive business growth,” Mr. Kok said.

AEB entered the Philippine market in 2016 and officially formed a Philippine team in June last year to handle local operations. Some of the company’s customers are Royale Cold Storage, South Alps Cold Storage, Starkson Logistics, Starkson Packaging, and 3M Dragon Logistics. — Revin Mikhael D. Ochave

Regular tests raise chance of curing colorectal cancer

March 15, 2023 | 12:03 am

FILIPINOS should undergo regular screening for colorectal cancer to treat — and cure — the disease, which is the fourth leading cause of cancer death in the Philippines, doctors said.

“Colorectal cancer is preventable, treatable and beatable,” Ian Homer Y. Cua, a gastroenterologist and hepatologist, told a Radio Veritas show on March 11, when the nation celebrated Philippine Digestive Health Week.

Colorectal or colon cancer is a disease where the cells in the large intestine or rectum grow out of control. In the Philippines, colon cancer is the fourth leading cause of cancer death, accounting for 9.9% of deaths.

One of the risk factors of colorectal cancer is age, with about nine of 10 cases occurring in people over 50 years old.

People with a family history of the disease, inherited genetic mutations, a diet high in processed food, a sedentary lifestyle and a habit of smoking are more prone to get the disease.

Polyps, which are small growths that line the colon, will take about 10 to 15 years to develop into colon cancer, Mr. Cua said.

Colorectal polyps and colorectal cancer don’t always cause symptoms, he added, which is why screening is very important.

“Some patients may experience bloody stools, unexplained weight loss and changes in bowel movement, but not all have these symptoms,” the doctor said in Filipino.

A colonoscopy, a procedure that involves the use of a tube to check the insides of the colon, is the gold standard for detecting the disease.

Precancerous polyps, can be immediately removed, Mr. Cua said. “We also have virtual colonoscopy using a CT (computerized tomography) scan to produce images of the colon and rectum.”

People who have no risk factors or any family history of the disease may start screening for it starting at the age of 50. Those that do will need to start screening at an earlier age.

Treatment options depend on the stage of the cancer and overall health of the patient, Mr. Cua said.

“If diagnosed early, the patient can undergo surgery to remove the cancer, and then have their intestines reconnected afterwards, followed by chemotherapy or radiation therapy,” he said.

A multidisciplinary approach is needed for such a prognosis, he told the radio show. A team that includes a gastroenterologist, medical oncologist and radiation oncologist will determine the best course of treatment for the patient.

The Department of Health in December released its clinical practice guidelines for colon cancer in support of the law on universal healthcare.

Mr. Cua cited to need to make healthy lifestyle choices, including a diet with fruits, vegetables and whole grains.

“Regular screening and early detection can greatly improve the chance of success of treatment and recovery,” he added.

Former Philippine President Rodrigo R. Duterte signed Proclamation 930 on March 18, 2020 declaring every second week of March as “Philippine Digestive Health Week.”

March is also Colorectal Cancer Awareness Month. — Patricia B. Mirasol

Sprout Solutions aims to double its client count as demand grows

March 15, 2023 | 12:03 am

BUSINESS-to-business software provider Sprout Solutions Philippines, Inc. is targeting this year to double the number of clients recorded last year as more companies seek automated solutions.

“We are aiming to double [our clients] year on year. That’s our growth target over the coming years. So, this year, next year, kind of continuing that 100% year-on-year growth,” Sprout Chief Executive Officer and Co-Founder Patrick Gentry told BusinessWorld.

Mr. Gentry said the company’s clients are Filipino companies belonging to various sectors. The service sector accounts for most of them.

“We have 1,000 clients in the Philippines, from startups all the way to the large enterprise customers. Some of the biggest companies in the Philippines use Sprout. Some of the major conglomerates use Sprout,” he said.

“We find a lot of companies coming to us from the BPO (business process outsourcing) sector, from food and beverage, hospitality, finance, and the medical industry. These are some strong industries for Sprout for sure,” he added.

Mr. Gentry said that the company has been profitable since 2021, highlighting that it has geared towards profitability despite the pandemic.

“We have been profitable since 2021 and have been growing very well. We are really happy with the kind of impact we are having on the Philippines these days,” he said.

For the next five years, Mr. Gentry said that more Filipino companies will seek to improve their backend solutions that address end-to-end human resources challenges.

When asked if the company is planning to enter the capital market, Mr. Gentry said that it is an option down the road.

“It’s not something that we are looking at doing today. But an initial public offering is a potential opportunity down the road for Sprout, absolutely,” he said.

Sprout focuses on automating employee lifecycle management and has expanded to become a “software as a service” suite of tools that businesses in the Philippines use to automate business processes. — Justine Irish D. Tabile

Saudi sculptor steps into limelight as religious curbs ease

March 15, 2023 | 12:03 am

RIYADH — Saudi ceramic artist Awatif Al-Keneibit walks proudly into a gallery displaying her work in Riyadh, where statues and earthenware figurines witness the return of plastic arts to Saudi Arabia after decades of religious restriction.

Her exposition includes ceramic faces, some with hollow eyes, others wearing eye glasses, and figurines of Saudi Arabian women, displayed on red bricks and colored to reflect traditional desert dresses.

“Who could have imagined that one day, this exhibition, which was in a basement, could be displayed in Olaya (downtown Riyadh)?” said Ms. Keneibit, 60, who is blazing a trail for women in the arts in Saudi Arabia’s conservative male-dominated society.

“They used to tell me that this is impossible to show because it’s forbidden in Islam. Now it is in the heart of Riyadh.”

A strict interpretation of Sunni Islam, including by the kingdom’s traditional Wahhabi doctrine, reserves the power of creation to God, banning statues and other art expressions that create an image of a human being.

Some say the prohibition was also because of the pagan deities that Arabs worshipped in the pre-Islamic era.

As a result, human sculptures became largely absent from public spheres in the Arabian Peninsula since Prophet Mohammed was said to have destroyed idols in and around the sacred Kaaba site in Mecca in 630 AD.

SOCIAL ‘SHOCKS’
However, Crown Prince Mohammed bin Salman has curbed the influence of Wahhabism on Saudi society and arts, also reining in the religious police and letting women drive cars.

Despite that, human rights groups say abuses prevail due to his crackdown on dissent and tight grip on power.

US-educated Ms. Keneibit said she resorted to creating a private gallery at the bottom of her house for friends and guests after a public exhibition was banned in 2009.

Her work is now welcomed in Riyadh’s most prestigious galleries, where other fellow Saudi artists have in the last few years also began enjoying their new-found freedoms.

Ms. Keneibit still shows some work from the prohibition period, including ceramic faces that appear strangled by metallic chains and another visage seeming to glow with Quranic verses.

“For me, it was two shocks, one before and another after. We are a generation that has gone through a lot of changes — from a total ban to a complete opening up,” she said.

“God willing, we will get some balance.” — Reuters

Philippine merchandise trade performance

March 15, 2023 | 12:02 am

THE PHILIPPINES’ trade-in-goods deficit widened to a five-month high in January as exports posted their steepest drop in over two years, the Philippine Statistics Authority (PSA) reported on Tuesday. Read the full story.

US sues Rite Aid for missing opioid red flags

March 15, 2023 | 12:02 am

WASHINGTON — The US government on Monday sued Rite Aid Corp., accusing the pharmacy chain of missing “red flags” as it illegally filled hundreds of thousands of prescriptions for controlled substances, including opioids.

In a complaint filed in Cleveland federal court, the Department of Justice said Rite Aid repeatedly filled prescriptions from May 2014 to June 2019 that were medically unnecessary, for off-label use, or not issued in the usual course of professional practice.

“The Justice department is using every tool at our disposal to confront the opioid epidemic that is killing Americans and shattering communities across the country,” Attorney General Merrick Garland said in a statement.

Rite Aid pharmacists were accused of ignoring obvious signs of misuse, including in prescriptions for “trinities,” a combination of opioids, benzodiazepine and muscle relaxants preferred by drug abusers for their increased euphoric effect.

The Justice department also said Rite Aid intentionally deleted some pharmacists’ internal warnings about suspicious prescribers, such as “cash only pill mill???” while admonishing them to “be mindful of everything that is put in writing.”

“These practices opened the floodgates for millions of opioid pills and other controlled substances to flow illegally out of Rite Aid’s stores,” Associate Attorney General Vanita Gupta said.

Rite Aid is one of the country’s largest pharmacy chains, with more than 2,330 stores in 17 US states. It did not immediately respond to requests for comment.

The Justice department accused Rite Aid of violating the federal False Claims Act by submitting false prescription claims to government healthcare programs such as Medicare and Medicaid.

It joined a whistleblower lawsuit filed in 2019 by two pharmacists and a pharmacy technician from Rite Aid stores in Pennsylvania, North Carolina and West Virginia.

The Justice department occasionally joins whistleblower cases it considers stronger.

It has also sued Walmart, Inc. and drug distributor AmerisourceBergen Corp. over their alleged roles in the nation’s opioid crisis.

More than 500,000 people died from drug overdoses in the United States from 1999 to 2020, including more than 90,000 in 2020 alone, according to the US Centers for Disease Control and Prevention. — Reuters

Rome street artist’s career took flight by painting pope as superhero

March 15, 2023 | 12:02 am

Maupal STREETARTIST — GRAFFITI artist Maupal, known for having painted murals depicting Pope Francis as Superman works at his apartment near the Vatican two days before the 10th anniversary of Pope Francis’ election to papacy in Rome, Italy, Mar. 11. —REUTERS/GUGLIELMO MANGIAPAN

ROME — For Italian street artist Maurizio Pallotta, Pope Francis, who marked his 10^th anniversary as pontiff on Monday, is a superhero.

Mr. Pallotta, 50, who signs his work as Maupal, shot to fame 10 years ago when he painted the pope as a flying superman on a wall in Rome’s Borgo neighborhood across the street from the Vatican.

After a few hours city workers removed the larger-than-life mural, but television crews and photographers had immortalized it. The clean-up bestowed Pallotta with the image of an underdog and rebel that only boosted his popularity.

“It was a bit of a gamble for me to portray him as a potential superhero but at the same time very human, with a bit of a belly and the scarf of his favorite football team coming out of the bag in which he carries all his Christian values, with glasses… so a very human and very humble superhero,” Mr. Pallotta said in his studio.

The evening Pope Francis was elected on March 13, 2013 Pallotta heard cheering in nearby St. Peter’s Square — meaning white smoke had emerged from the chimney of the Sistine Chapel indicating that cardinals inside had chosen a new pope.

He rushed to join the crowd.

“The thing that struck me immediately was the fact that he wanted to call himself Francis — I loved that — the name of someone able to restore the Church,” Mr. Pallotta said, referring to St. Francis of Assisi.

“Then his greeting, his ‘good evening,’ which may seem banal, but simplicity is sometimes complicated. He was so simple that he immediately became extremely empathetic with everyone present,” Mr. Pallotta said.

He said he had no particular passion for painting religious subjects before but was moved by the “humility he showed from the very beginning, that I thought he could become one of the few powerful people in the world who could really change a negative path, or at least improve it.”

Another of his murals depicts the pope as a street artist painting peace signs on a wall while a Swiss Guard is watching out for the police.

Mr. Pallotta has met the pope three times and said Francis appreciates his work, so much so that he gave him permission to paint a mural showing the pope and a sick boy in separate wheelchairs on a wall of Rome’s children’s hospital.

Pallotta has given the 86-year-old pope a collection of all his works.

Francis laughed when he saw one which depicts the pope as an agile window washer wiping away atmospheric pollution in a big city. “I am a bit too fat to be able to do stuff like that,” Mr. Pallotta quoted the pope as saying. — Reuters

PLDT and Nokia seek faster digital, sustainable moves

March 15, 2023 | 12:02 am

PLDT Inc. and Finnish multinational company Nokia Corp. called for the acceleration of digitalization and sustainability initiatives in response to the evolving needs of their customers.

“Enterprises have realized that in order to remain relevant to their customers, they have to digitally transform, disrupt themselves and the way they conduct business,” ePLDT President and Chief Executive Officer Victor S. Genuino said in a statement.

Nokia pledged an environment-friendly and sustainable future and has committed to the use of 100% renewable electricity in its operations by 2025.

“It’s not just a job that we have to do,” Nokia Vice-President and Head of Southeast Asia Daniel Jaeger said. “But it’s really a contribution that we as the communications industry, in a broader sense, need to do.”

PLDT unit ePLDT has been pushing for the development of green data centers in the Philippines.

Mr. Genuino said that its PLDT customers have been asking questions that make the company assess how it runs its business.

“It’s our customers that drive us to be innovative in the way we build [our] data centers, source power, and manage our operations,” he said.

Last month, PLDT announced the launch of its 11^th VITRO data center in a 5-hectare lot in Sta. Rosa, Laguna, and the expansion of its largest operational data center in Makati.

The new data center, VITRO Sta. Rosa, will have an initial power capacity of 14 megawatts (MW) in early 2024, which ePLDT targets to increase to 50 MW once the data center is fully operational.

Meanwhile, the expansion will add a capacity of 12 MW that will power an additional 1,600 racks to 3,360 racks by March.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Justine Irish D. Tabile

Treasury fully awards reissued bonds as global yields decline

March 15, 2023 | 12:02 am

THE GOVERNMENT made a full award of the reissued 25-year Treasury bonds (T-bonds) it auctioned off on Tuesday on the back of strong demand and amid a decline in global yields due to worries over the financial sector.

The Bureau of the Treasury (BTr) raised P25 billion as planned from the reissued 25-year bonds it offered on Tuesday as total bids reached P54.045 billion, more than twice the amount on the auction block.

The bonds, which have a remaining life of 12 years and six months, were awarded at an average rate of 6.167%, with accepted yields ranging from 6.05% to 6.2%.

The average rate of the paper was 3 basis points (bps) lower than the 6.197% quoted for the same bond series when it was last offered on Jan. 31 and 183.30 bps below the 8% coupon for the issue.

It was likewise 9.50 bps lower than the 6.262% seen for the same bond series and 7.50 bps below the 6.242% quoted for the 12-year bond at the secondary market prior to the auction, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

“The Auction Committee fully awarded the reissued 25-year Treasury bonds at today’s auction. With a remaining term of 12 years and six months, the reissued bonds (FXTN 25-07) fetched an average rate of 6.167%, lower than the previous average of 6.197% when it was last reissued in January 2023 and current secondary market benchmark rates,” the BTr said in a statement on Tuesday.

“The auction attracted P54 billion in total tenders, 2.2 times the P25-billion offer. With its decision, the committee raised the full program of P25 billion, bringing the total outstanding volume for the series to P188.4 billion,” it added.

Yields on government securities were on a decline since Monday, which resulted in a lower average rate for the T-bond issue, a trader said in a Viber message.

“Demand for bonds surged globally as the flight to quality becomes the theme following the US banking crisis,” the trader said.

The papers fetched a lower average yield amid the recent decline in US and global bond rates on safe-haven demand and dovish Federal Reserve bets following the collapse of two banks in the world’s largest economy, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

He said the decline came “amid recent market expectations of a possible pause on Fed rate hikes or a 25-bp Fed rate hike next week due to stresses in US financial markets.”

Markets remained nervous following the collapse of Silicon Valley Bank last week and the failure of New York’s Signature Bank over the weekend even after the US government took steps to shore up systemic confidence, Reuters reported.

Heavy selling hit US regional bank stocks overnight and traders raced away from bets on US rate hikes, reckoning the instability would turn policy makers cautious.

Two-year Treasuries steadied after their biggest rally since 1987, and US interest rate futures eased slightly after soaring in New York, as markets priced out any chance of a 50-bp Fed hike at its March 21-22 review.

The US central bank hiked its target interest rate by 25 bps to a range between 4.5% and 4.75% at its Jan. 31 to Feb. 1 meeting.

Since March 2022, the Fed has raised borrowing costs by a total of 450 bps.

The BTr wants to borrow P200 billion from the domestic market this month, or P75 billion via Treasury bills and P125 billion via T-bonds.

The government taps local and foreign sources to help fund its budget deficit, which is capped at 6.1% of gross domestic product this year. — AMCS with Reuters

Dutch historian finds medieval treasure using metal detector

March 15, 2023 | 12:01 am

Schatvondst_Hoogwoud1_1200p-768x511 — THE COMPLETE treasure find from Hoogwoud: four gold pendants, two pieces of gold leaf and 39 silver medals. —RMO.NL /ARCHEOLOGY WEST-FRIESLAND/FLEUR SCHINNING

AMSTERDAM — A Dutch historian found a unique 1,000-year-old medieval golden treasure, consisting of four golden ear pendants, two strips of gold leaf, and 39 silver coins, the Dutch National Museum of Antiquities (Rijksmuseum van Oudheden) announced on Thursday last week.

Lorenzo Ruijter, 27, who told Reuters he has been treasure hunting since he was 10, discovered the treasure in 2021 in the small northern city of Hoogwoud, using a metal detector.

“It was very special discovering something this valuable, I can’t really describe it. I never expected to discover anything like this,” Ruijter said, adding that it was hard to keep it a secret for two years.

But experts of the National Museum of Antiquities needed the time to clean, investigate, and date the treasure’s objects and have now found that the youngest coin can be dated back to around 1250, which made them assume the treasure was buried then.

By that time the jewelry was already two centuries old, the museum said, adding it must already have been “an expensive and cherished possession.”

“Golden jewellery from the High Middle Ages is extremely rare in the Netherlands,” the museum also said.

While it will remain a mystery why exactly the treasure was buried, the museum pointed out there was a war raging between Dutch regions West Friesland and Holland in the middle of the 13^th century, with Hoogwoud being the epicenter.

Mr. Lorenzo said it is possible someone powerful at the time buried the valuable objects as a way to protect them and hopefully dig them up once it was safe again.

Given its archaeological significance, the treasure was given as a loan to the museum which will display it, but it will remain the official property of finder Lorenzo Ruijter. — Reuters

PhilHealth Z and colorectal cancer

March 15, 2023 | 12:01 am

Almost half (48%) of households in ASEAN countries with a member newly diagnosed with cancer faced financial catastrophe within the first year of seeking care, according to the Association of Southeast Asian Nations Costs in Oncology. The ASEAN region consists primarily of low- and middle-income countries, including the Philippines. It found that significant contributors to the risk of financial catastrophe for patients were belonging to the low-income bracket and lack of health insurance.

In 2012, the Philippine Health Insurance Corp. (PhilHealth) launched its Z Benefits Package to help Filipinos avert financial catastrophe by reducing household out-of-pocket healthcare costs, especially for catastrophic illnesses such as heart attack, stroke and cancer. Included in the package are payment for hospital services such as hospital room and board fees, drugs and laboratory exams, operating room and professional fees for the entire course of treatment, including mandatory and other services required per illness.

PhilHealth also established the Z Benefits Package for patients with colorectal cancer to finance standard of care treatment of Filipino patients with early-stage or locally invasive colon or rectal cancer (stages I to III), particularly those who cannot afford to pay for their care. Patients enrolled in this package receive care through a multidisciplinary specialist team composed of medical oncologists, colorectal surgeons, radiation oncologists and diagnostic radiologists. The team holds weekly conferences to plan for patient care and assess outcomes of ongoing therapy.

Most colorectal cancers start as polyps, according to the Healthy Pilipinas website, the flagship digital asset of the Department of Health for medically verified health information. These polyps can change into cancer over time. It says not all polyps become cancer. Once they become cancerous, they can then travel to nearby lymph nodes or to distant parts of the body. The US Centers for Disease Prevention and Control (CDC) adds that screening tests can find polyps so they can be removed before turning into cancer. Screening also helps find colorectal cancer at an early stage, when treatment works best.

The Philippine General Hospital (PGH) has been the pilot site to implement the Z Benefits Package for colorectal cancer since 2016 under which patients receive fully subsidized treatment. Authors Frederic Ivan L. Ting and Danielle Benedict L. Sacdalan from the PGH Colorectal Polyp and Cancer Study Group reviewed data to determine the treatment outcomes of 251 patients enrolled in the Z Package program for colorectal cancer from 2016 to 2018.

The average age of the patients was 57 years old and majority (66%) were male, had rectal cancer (78%), and were diagnosed with stage III disease (82%). Most (75%) were compliant with their treatment plans and clinic follow-up. Ninety percent underwent the prescribed surgery, 77% had chemotherapy and 96% received radiation treatment. Recurrence, morbidity and mortality rates were relatively low at 17%, 22%, and 19%, respectively. Patients had a two- and three-year survival probability of 74% and 70%, respectively, which are comparable with data from more developed nations.

“Our study shows that when the highest standards of patient care are provided through a multidisciplinary team, patients’ overall survival is also maximized,” the researchers said. “It also shows that a national insurance program that [helps patients access] the highest standards of care is essential.”

With early detection and optimal treatment and follow-up, colorectal cancer is highly treatable and often curable. “Appropriate follow-up improves [treatment] outcomes as patients who have been lost to follow-up after initial work-up and treatment return [to the clinic] later with more advanced disease, if they come back to their physician at all,” wrote Sacdalan and others in their 2020 study that aimed to identify patient-specified factors that contribute to continued follow-up at the PGH Colorectal Multidisciplinary Clinic.

The researchers asked 128 patients at the clinic to answer a questionnaire designed to identify factors that the patients felt contributed to their continued follow-up at the clinic. The respondents identified trust in their attending physician, adequacy of family support during treatment and affordability of treatment at the clinic as the top three factors that influenced continued follow-up.

As the country observes National Colorectal Cancer Awareness Month, the full implementation and funding of the National Integrated Cancer Control Act can deliver on the landmark law’s promise to give cancer patients access to optimal healthcare services and provide their families with emotional, physical and financial risk protection, among others.

Teodoro B. Padilla is the executive director of the Pharmaceutical and Healthcare Association of the Philippines, which represents the biopharmaceutical medicine and vaccine industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

SEC provides alternative submission of ASM notices

March 15, 2023 | 12:01 am

THE Securities and Exchange Commission (SEC) is set to introduce alternative means for companies to distribute and provide their notices for annual stockholders’ meetings (ASM).

On Feb. 28, the commission en banc in a meeting agreed to provide an alternative mode of compliance for publicly listed companies, public companies, and other companies with registered securities under the SEC

Companies will be allowed to publish the announcements of their 2023 ASM in the business section of two general circulation newspapers, in both print and online, for two consecutive days.

“Provided that, the last publication date of the Notice of Meeting shall be made no later than 21 days prior to the scheduled ASM,” the SEC said.

The notice would inform a company’s shareholders of the meeting’s date, time, location, and other information that the commission has required under the Revised Corporation Code.

Additionally, the notice will provide an electronic copy of the company’s information statement, management report, and SEC Form 17A, on the company’s website.

For publicly listed companies, these reports should also be available on the Philippine Stock Exchange’s portal PSE Edge.

The compliance of the companies would be considered by the SEC as a fulfillment of the requirements under the 2015 implementing rules and regulations of the Securities Regulation Code, Revised Corporation Code, and other applicable issuances of the commission. — Adrian H. Halili