Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 5191

SEC orders 5 online lending firms to stop operating

THE Securities and Exchange Commission (SEC) has issued cease-and-desist orders against five online lending firms for conducting lending activities without securing the proper authorization from the commission.

In an order issued Feb. 3, the Commission En Banc ordered Tacoloan, VCash, 365 Cash, SwipeCash, and BootCash to stop their lending operations until they have incorporated and secured Certificates of Authority (CA) to Operate as a Lending or Financing Company from the SEC.

“The SEC issued the order after finding that none of the groups are registered as a corporation, nor have they secured CAs from the Commission,” the regulator said in a statement on Tuesday.

The Lending Company Regulation Act of 2007 (LCRA) or Republic Act No. 9474 requires individuals or entities that operate as lending firms to register and to secure a CA from the commission to operate.

“[T]he Commission finds and so holds that the issuance of a CDO (cease-and-desist order) is warranted in the instant case not only to stop the illegal act, but also to prevent the continued fraud on the public who are led by the Online Lending Operators to the belief that they are a legitimate business,” the Commission En Banc said.

Aside from the entities, those involved in the offering of the illegal lending services such as agents, representatives, and promoters were ordered to stop offering and advertising their lending operations online and were told to remove online advertising materials.

The regulator said it also received complaints about the unfair debt collection policies of the illegal online lending operators. — Keren Concepcion G. Valmonte

A gray tsunami is brewing and the Philippines has to prepare for it

EDUARDO BARRIOS-UNSPLASH

By Patricia B. Mirasol, Reporter 

A GRAY tsunami is brewing in the Philippines, as its population ages. Staff resignations, a lack of funding, and the pandemic, however, are slowing gerontology initiatives to prepare for this demographic shift.  

“If you ask me, we are not yet ready for this tsunami,” said Lydia T. Manahan, a registered nurse, professorial lecturer at the University of the Philippines (UP) Manila’s College of Nursing, and founder of the Gerontology Nurses Association of the Philippines (GNAP).  

The Philippines is expected to have an ageing population by 2032 — with the proportion of individuals aged 65 and above projected to exceed 7%, according to the United Nations (UN) Department of Economic and Social Affairs. In 2020, it was at 5.5%, according to data from the World Bank. 

Per another UN report, 1 in 6 people in the world will be over the age of 65 by 2050.  

RESPECT AND DIGNITY
Gerontology is a multidisciplinary approach that includes doctors, nurses, social workers, and interest groups that look into the different facets of aging — whether physical, mental, emotional, or spiritual. The term is sometimes interchanged with geriatrics, which refers to medical care for individuals over 65 years.  

Despite being similar in age, adults in this age bracket are “very heterogeneous,” said Ms. Manahan in a Feb. 5 Facebook discussion on gerontology nursing.  

“A nurse has to be creative to come up with a care program that fits not only a person’s age, but also his/her functional capacity,” she added. “The number one thing I tell my students and co-nurses is that there should be respect and dignity afforded to older adults. They are persons and they are our patients.”  

The Department of Health (DoH) is aware of the need to prepare our nurses on the how-to’s of elderly care, she added. The department, together with GNAP, started offering a three-month Gerontology Nursing Training Program in July 2016. For three successive years, staff from various DoH hospitals were trained in core competencies related to the health maintenance and well-being of older adults.  

“We were cooking up plans on how to further the program, but then COVID-19 [coronavirus disease 2019] came in,” Ms. Manahan said.  

TRAINING GAP
Personnel have resigned in both private and public hospitals because of COVID-19, said Dr. Eva Aranas-Angel, a Davao City-based geriatric specialist.  

“If you extrapolate this with the entire archipelago, we do have understaffing,” she said. “Even contractual [staff] and those in the plantilla resign.”  

Ms. Manahan acknowledged that funding is an issue for the training gap.  

“It all goes back to who will fund it. Even hospitals can’t afford to send their personnel to training programs,” she said. At a recent gerontology training session sponsored by GNAP, the UP College of Nursing, and the World Health Organization, she added, some of the trainees had to excuse themselves because they were being called to vaccinate patients.  

Two silver linings exist, Ms. Manahan pointed out. One is the Masters of Arts in Nursing degree being offered at the UP Open University with a specialization in gerontology. The other is the National Commission of Senior Citizens. Signed into law by President Rodrigo R. Duterte on July 25, 2019, the commission is intended to function as the sole body attending to senior citizens’ needs.  

“The pandemic is not going to stop people from getting older,” said Dr. Angel. “The general consensus is that older adults deserve TLC [tender loving care] plus add-ons.” 

UP Arts and Culture Fest

commemorates martyrdom of Gomburza

FILIPINO nationalism, consciousness, and freedom are the focus at the month-long celebration of the 2022 UP Diliman Arts and Culture Festival. This year’s particular focus is on the three martyred priests from the Spanish era, Fr. Mariano Gomez, Fr. Jose Burgos, and Fr. Jacinto Zamora, known collectively as Gomburza or GomBurZa.

First celebrated as Diliman Month in 1949 to commemorate the official transfer of the statue of the Oblation from the University of the Philippine (UP) campus in Padre Faura to its sport in the Diliman campus, in recent years the festival has been mounted in conjunction with the celebration of National Arts Month. Each year, the arts festival’s theme commemorates a historical event or aspect in Philippine culture.

This year’s festival takes place throughout February and March and has as its theme, “kaMALAYAn: Pamana ng GomBurZa @ 150.” The festival commemorates the 150th anniversary of the martyrdom of the three priests.

Frs. Gomez, Burgos, and Zamora — who served in Bacoor, the Manila Cathedral, and Marikina, respectively — were critics of Spanish colonial rule and championed the rights of native-born clergy. They promoted the management of parishes by Filipino secular priests instead of Spanish friars.

Then, on Jan. 20, 1872, 200 soldiers and laborers rose up against the colonizers, seizing the military camp of Fort San Felipe in Cavite. The Cavite mutiny lasted only two days and many arrests followed, including those of people who were not involved. Support for liberal ideas was the only similarity among the detainees. The three priests were among those falsely accused of instigating the mutiny. Summarily tried, they were sentenced to death by garrote in a public execution on Feb. 17, 1872.

“The event became a historical turning point because it affected the consciousness of a new generation of Filipinos who were willing to fight the injustices of colonial rule and to strive to work for our freedom as a nation,” Cecilia S. De La Paz, PhD, director of UPD Office for Initiatives in Culture and the Arts and the festival’s project head, told BusinessWorld in an e-mail.

Ms. De La Paz explained that for the festival, significant historical events are listed down each year, then consultations are held with various stakeholders in the humanities and social science department. The relevance of these events in history are then examined in the context of present-day Philippine society.

“For 2022, the UP Department of History recommended the study and reflection of the 150th year commemoration of GomBurZa’s death, construed to be the seed of the ‘Filipino consciousness,’ as articulated by the 19th century revolutionary intellectuals such as Jose Rizal, Andres Bonifacio, Marcelo Del Pilar, Apolinario Mabini, among others,” Ms. De La Paz said.

“The festival aims to contribute to the discussion of contemporary Filipino consciousness as we re-calibrate our lives in these pandemic times,” she said.

The festival includes lectures, conferences, webinars, workshops, exhibits, and art installations which will be held physically, virtually, or in a hybrid format.

This year’s projects include: “ATANG, a sound prayer,” an art installation and virtual exhibit at the Oblation Plaza which will be on display from March 18 to April 18; the History department’s “Talastasan sa Kasaysayan Webinar Series: Philippine Nationalism Beyond 1872” which will be held on Zoom and Facebook Live on Feb. 21, 28, and March 14; an online program launch and exhibition of the “Bulwagan ng Mga Bayani: Alay, Alaala, at Pagpupugay sa mga Bayani ng Pilipinas” at the UP Asian Center Museum on March 21 (3 p.m. via Zoom) with access to the exhibition videos through the Asian Center YouTube Channel; an online conference titled “Bagumbayan: Stories of Place and Identity” (National Conference on the 150th Anniversary of the GomBurZa Execution) on March 9 (8 a.m. to 5 p.m.) and March 10 (9 a.m. to 5 p.m.) via Zoom and Facebook Live.

There will also be a virtual concert, HIMIGSIKAN sa Jingle Magazine: Malayang Tipaan at Kuwentuhan, on March 25, 7 p.m., at the UPD-OICA YouTube Channel. The virtual concert — which will take the form of a music talk show — features musicians who were influenced by the publication JINGLE Magazine, and subsequently contributed to the birth of OPM, including Joey Ayala, Noel Cabangon and Paul Galang.

Meanwhile, a photo exhibit focusing on Martial Law will also be held. Called “Dark Memories,” it will open on March 15 at the UP Diliman Academic Oval. In this photo documentary exhibit by Rick Rocamora, Martial Law human rights violation victims are the focus as heroes, as Gomburza were 150 years ago, “whose documented sufferings ignited in the consciousness of fellow Filipinos, an aspiration for freedom fueled by love of country.”

The program also features virtual projects from other UP Diliman units that align with the themes of the festival. These include online conferences via Zoom and Facebook Live — the College of Architecture’s Living in The Philippines: Realizing Identity from Different Disciplinal Perspectives on March 7, 2 p.m., and the Department of Linguistics’ “Lexicon Unpacked: Alay, malay, laya” on March 17, 2 p.m.

“We believe art and culture activities are important, especially during the pandemic, because it offers perspectives that are rooted on the human condition, and thus offer hope for a better tomorrow,” Ms. De La Paz said.

For more information about the festival, access the following link for the brochure of activities: https://bit.ly/UPDACF2022-Brochure. Interested parties can also send an e-mail to the UP Diliman Office for Initiatives in Culture in the Arts (UPD-OICA) at specialprojects_oica.upd@up.edu.ph or follow UPD-OICA’s Facebook page, https://www.facebook.com/updoica. —  Michelle Anne P. Soliman

Haus Talk plans P325-M residential project in QC

HAUS TALK, Inc. is building a seven-unit high-end horizontal residential project in Quezon City’s (QC) Barangay Loyola Heights from which it can earn as much as P108 million, it said on Tuesday.

In a disclosure to the exchange, the newly listed property developer said it expects its new 50 Jocson Residences project to bring up to P325 million in revenues.

Haus Talk’s project will have seven high-end residential units, each with an average lot area of 217 square meters (sq.m.) and a floor area of 286 sq.m.

50 Jocson Residences is located in the “heart of the Katipunan Area,” near schools, such as Ateneo de Manila University, Miriam College, and the University of the Philippines, as well as commercial establishments.

The company expects the project to be completed by end-2023. Selling of the units will start in the first quarter this year, with half of the sales and earnings to be realized by yearend and the other half in 2023.

“As with all its projects, the company is confident that all its high-end units will be sold out even before the completion of its project,” Haus Talk said.

Haus Talk is also “intending to build more high-end projects in the future.”

The launch of 50 Jocson Residences comes on the heels of Haus Talk’s announcement on its Celestis project, a 100-unit horizontal housing project in Antipolo City. The company expects Celestis to “conservatively” raise P500 million in revenues and P200 million in earnings.

“Notwithstanding successive project launches, the Company still has several other projects in the pipeline for 2022, all of which are again highly expected to be sold out early and way before project completion,” Haus Talk said.

The company was the first to brave the stock market this year, listing on the small, medium, and emerging (SME) board of the Philippine Stock Exchange on Jan. 17 after raising P750 million from its initial public offering.

On Tuesday, Haus Talk shares at the local bourse closed unchanged for the second consecutive day at P1.22 apiece. — Keren Concepcion G. Valmonte

Free online survey helps assess mental health

UNSPLASH

By Brontë H. Lacsamana

BREAK YOUR STIGMA, an online campaign by cosmetics brand BYS Philippines, launched in January a free mental health survey in collaboration with psychological service Vanguard Assessments & Behavioral Dynamics, Inc. (VABDI).   

According to the website, the survey is an “evidence-based tool that screens and helps give a reflection of one’s current mental state.” Those who take the assessment will receive a brief psychological report, which can then be interpreted by a mental health professional — for a separate fee — if the person chooses to seek help.  

“There are individuals that need validation from an assessment tool that confirms their own suspicions, while others are challenged by what they see, so it leads to a moment of questioning,” said Miguel O. Valdez, VABDI chief executive officer, via e-mail.  

“Even those who are not from the field of psychology express their interest and appreciation once they get to read the reports and be provided with short descriptions of what the data means and how it affects everyday living,” he added.  

The hope of Break Your Stigma is not for the survey to be a prerequisite for seeking help, but at least a starting point to acknowledge the issues one may have.  

VABDI’s mental health assessment, which takes around 30 minutes to complete, starts off with a consent page. There, the examinee will agree to giving data like name, age, birth date, sex, educational attainment, and the results for assessment and research purposes.  

“Aside from following the Data Privacy Act, individuals handling data are licensed and fully committed to ensure that the reports of those who undergo assessment are kept confidential and only those authorized have access,” said Mr. Valdez of VABDI.  

The test itself consists of usual statements one can find in a psychological test, such as “I prefer to do things in a certain way” or “I like to draw attention to myself,” to which one selects from a range of “Very false, somewhat false, somewhat true, and very true.”  

These cover behaviors, thoughts, and physical symptoms concerned with various mental health concerns. Once completed, it takes a week for a VABDI mental health professional to evaluate and write a psychological report to be sent via e-mail.  

The report lays out in a checklist format the individual levels of concern for 25 different factors commonly measured when undergoing mental health screening — these include anxiousness, depressivity, impulsivity, and intimacy avoidance, among others.  

Those who answer the survey can glean some insights on what requires most concern. However, the free test only provides basic explanations for each of the 25 factors, and a more comprehensive assessment by VABDI costs P4,000.  

“Appreciation of the assessment will deepen once the individual proceeds to counseling inspired or guided by the desire to learn more about themselves and improve their quality of life,” said Mr. Valdez of VABDI.   

The Break Your Stigma website offers a directory of over 100 mental health professionals and organizations for Filipinos to choose from. The professional fee is separate from the fee for the comprehensive assessment. 

As NFTs flourish, US Treasury raises alarm over money laundering in art

FREEPIK

WASHINGTON —  The US Treasury Department on Friday issued a set of recommendations to combat illicit finance in the high-value art market and warned that the emerging digital art market, such as non-fungible tokens (NFTs), may present new risks.

In a study published on Friday, the Treasury found that there is some evidence of money laundering risk in the high-value art market, but limited evidence of terrorist financing risk, the Treasury said in a statement.

It said that those most vulnerable in the market are businesses offering financial services that are not subject to anti-money laundering or countering terrorism financing obligations, warning that asset-based lending “can be used to disguise the original source of funds and provide liquidity to criminals.”

A senior Treasury official told reporters that the next steps include engaging stakeholders such as those in Congress or in the industry to get their feedback, adding that the Treasury hopes the study will encourage industries to take additional steps to make it harder to launder illicit proceeds through the art market. The Treasury will give further thought as to whether additional regulatory steps are needed in this market, the official said.

The study also said that depending on the structure and market incentives, the digital art market, such as NFTs, may present new risks, as the characteristics of digital art make it vulnerable to money laundering.

NFTs are a form of crypto asset which exploded in popularity last year. All kinds of digital objects — from art to videos and even tweets — can be bought and sold as NFTs, which use unique digital signatures to ensure they are one-of-a-kind.

The study recommended the consideration of several options to address the risks, including updating training for law and customs enforcement, enhancing private sector information-sharing and applying anti-money laundering and countering terrorism financing requirements to certain participants in the art market.

But it said that the multi-billion-dollar industry, compared to other sectors that pose terrorist financing and money laundering risk, should not be an immediate focus for the imposition of requirements to combat the illicit financing.

Most art market participants are currently not subject to anti-money laundering or counter terrorism financing requirements, though the study said that several qualities inherent to art and the high-value market make it attractive for money laundering. — Reuters

Ninja Van targets 100% service coverage in PHL this year

By Arjay L. Balinbin, Senior Reporter

TECHNOLOGY-enabled express logistics company Ninja Van is aiming to reach 100% service coverage in the Philippines this year, a company official said.

“We are expanding our footprint. We are on the road to 100% coverage nationwide, really serving more rural locations like Tawi-Tawi, Siargao, and Siquijor. We are trying to provide access in those areas,”  Ninja Van Philippines Chief Commercial Officer Sabina Lopez-Vergara told BusinessWorld in a virtual interview on Tuesday.

Ninja Van started operations in Singapore in 2014, and it was launched in the Philippines in 2016. The company also operates in Malaysia, Indonesia, and Vietnam.

Ninja Van Philippines now has around 7,000 riders, up from just eight riders when it started operating in the country in 2016, according to Ms. Vergara.

It has more than 200 stations across the country, and the company is optimistic about expanding its footprint through its growing partner retail shops called Ninja Points, which allow customers to pick up their parcels at their own convenience.

The company is building infrastructure in the remaining 1% of the country that it targets to serve, Ms. Vergara said.

“Because of that, we are growing our fleet. We need to grow our rider base, and we need to hire more employees to build those stations,” she added.

“There are a lot of plans in terms of growth. Ninja Van is always looking for other opportunities outside of its core business. We have a lot of businesses that started during the pandemic.”

Ms. Vergara attributed her optimism to the increased demand coming from rural areas because of the work-from-home arrangement.

“A lot of people have started going back to the provinces because of this work-from-home arrangement, and you know, they are bringing with them the behaviors that they had in Manila, such as online shopping,” she said.

She noted that the digital revolution during the pandemic allows such customers to also open their own businesses in their provinces. “Because Ninja Van is serving some of those provinces, and other couriers are also serving those areas, they could also start opening up into the digital space and promoting their own brands.”

“The whole logistics network opened up, really expanding access and transportation of items, goods and supplies throughout Philippines,” she added.

Last year, the company announced that it had secured $578 million in a funding round. It said the funds would be allocated towards infrastructure and technology systems to “support a sustainable long-term cost structure, as well as the quality and consistency of Ninja Van’s operations.”

“Funds will also be invested in Ninja Van’s suite of micro-supply chain solutions to help Southeast Asian businesses optimize e-commerce opportunities,” the company said in a statement.

Hastily-formed Gilas braces for well-motivated S. Korean squad

COACH CHOT REYES — SBP.PH

A HASTILY-FORMED Gilas Pilipinas braces for an all-out war against a well-motivated South Korean squad that’s out for Filipino blood in the coming International Basketball Federation (FIBA) World Cup 2023 Asian Qualifiers in Quezon City.

“Not only are they (Koreans) coming for revenge, they’re also coming for qualification and survival to get to the World Cup,” Gilas coach Chot Reyes said during Tuesday’s online PSA Forum.

The Philippines and South Korea mix it up in the Group A opening night on Feb. 24 and in the culminating match on Feb. 28 as highlights of the first window to be held at the Smart Araneta Coliseum. They are also slated to face New Zealand and India in between.

The Pinoy and Korean dribblers renew their rivalry eight months after a youth-laden Gilas crew under Tab Baldwin swept their two games in the FIBA Asia Cup Qualifiers in Clark.

“It is time for revenge,” Korea’s Kim Sun-Hyung said on the FIBA website. “I’m ready and confident about beating them in the two games.”

“I think we’re going to see a very different Korean team, we’ll see a lot of veterans in this team, ” noted Mr. Reyes.

It will be a different Gilas squad, too, as Mr. Reyes is working with about half of that winning crew in Clark in combination with some of his TnT Tropang Giga stalwarts.

“For now, our focus is on our team. The time will come when our focus is going to shift fully to Korea. And figure out what kind of team can match up well not only against South Korea but also New Zealand and India,” said Mr. Reyes.

The returning Gilas mentor said he will likely borrow a page from the playbook his predecessor Mr. Baldwin used with success last June 2021 against Korea.

“We’re going to take a lot from the game plan of coach Tab…” said Mr. Reyes. “But as I said, there’s a lot of different players sa team so we just have to be prepared.”

Mr. Reyes himself knew what it takes to beat Korea. He previously steered Gilas to a famous 86-79 triumph before a roaring home crowd in the semifinals of the 2013 FIBA Asia Cup at the MOA Arena that led to a stint in the 2014 WC.

“Our mantra’s always to be the hardest-working, best-conditioned team,” said the veteran mentor, who popularized the Gilas battlecry “Laban Pilipinas, Puso.” — Olmin Leyba

COVID disrupts health services in over 90% of countries — WHO

REUTERS

GENEVA — Disruptions in basic health services such as vaccination programs and treatment of diseases like AIDS (acquired immunodeficiency syndrome) were reported in 92% of 129 countries, a World Health Organization (WHO) survey on the impact of the coronavirus disease 2019 (COVID-19) pandemic showed on Monday.  

The survey, conducted in November–December 2021, showed services were “severely impacted” with “little or no improvement” from the previous survey in early 2021, the WHO said in a statement sent to journalists.  

“The results of this survey highlight the importance of urgent action to address major health system challenges, recover services and mitigate the impact of the COVID-19 pandemic,” the WHO said.  

Emergency care, which includes ambulance and ER services, actually worsened with 36% of countries reporting disruptions versus 29% in early 2021 and 21% in the first survey in 2020.  

Elective operations such as hip and knee replacements were disrupted in 59% of the countries and gaps to rehabilitative and palliative care were reported in about half of them.  

The survey’s timing coincided with surging COVID-19 cases in many countries in late 2021 due to the highly transmissible Omicron variant, piling additional strain on hospitals.  

The WHO statement attributed the scale of disruptions to “pre-existing health systems issues” as well as decreased demand for care, without elaborating. — Reuters 

Museums reopen until Feb. 15

© THE NATIONAL MUSEUM OF THE PHILIPPINES (2017)

SOME museums are opening their doors to the public once again with the lowering of the level of coronavirus disease 2019 (COVID-19) restrictions in the National Capital Region (NCR).

The Ateneo Art Gallery, the National Museum of the Philippines, and the Ayala Museum and Filipinas Heritage Library have all announced that they are now accepting visitors until Feb. 15 (as the NCR is under Alert Level 2 until that day), albeit with a number of restrictions.

ATENEO ART GALLEY
The Ateneo Art Gallery is open daily from 9 a.m. to 4 p.m. until Feb. 15. Admission is free.

The current exhibitions on view are “INK Story: 30 Years of Ang Ilustrador ng Kabataan”; “Islands for Sale: Pete Jimenez”; and “Muntadas: Exercises on Past and Present Memories.”

Visitors have to book an appointment online (www.bit.ly/VisitAAG) two to three days in advance. There are three time slots available each day, each of which is limited to a maximum of 15 visitors. The time slots are: 9-11 a.m., 11:30 a.m. to 1:30 p.m., and 2-4 p.m. The booking cut-off is at 3 p.m. Guests (aged 12 to 65) must be fully vaccinated and must bring a vaccination card and the valid ID used in the booking form on the day of their visit.

Visitors must wear a face mask at all times while inside the gallery. The use of face shields is optional. Visitors are enjoined to observe physical distancing if not belonging to the same household.

THE NATIONAL MUSEUM OF THE PHILIPPINES
The National Museum Complex in Manila — composed of the National Museum of Fine Arts, National Museum of Anthropology, and the National Museum of Natural History — is now allowing fully vaccinated adults and minors to visit. Unvaccinated minors are welcome but they must be accompanied by a fully vaccinated adult.

While admission is free, visits must be booked ahead of time as walk-in visits are not allowed.

The museum complex is open Tuesday to Saturday. Guests must reserve a timeslot at least a day before their intended visit. There are two timeslots open each day: 9-11 a.m. and 1-4 p.m., with the cutoff for entry at 3 p.m. A maximum of 200 guests per timeslot are allowed in the museum complex. To book a timeslot, visit the website www.nationalmuseum.gov.ph and click “Book a tour.” For more information, visit www.facebook.com/nationalmuseumofthephilippines.

AYALA MUSEUM AND FILIPINAS HERITAGE LIBRARY
The Ayala Museum and Filipinas Heritage Library is now open to visitors from Wednesday to Friday (11 a.m. to 4:30 p.m.), and Saturday to Sunday (11 a.m. to 5:30 p.m.).

All visits to the museum and library have to be pre-booked. There are timed slots available, with the museum allowing a maximum of 30 people per timeslot, and the library allowing a maximum of eight people in its premises per timeslot.

Only fully vaccinated individuals will be admitted. Proof of vaccination and identification are required upon entry. RT-PCR tests and medical exemption certificates will not be accepted.

Go to www.ayalamuseum.org/visit to book a visit and learn about the safety protocols at the museum and library. For more information, visit www.facebook.com/ayalamuseum.

NGO launches recovery program for Odette victims

International Care Ministries (ICM), a Philippine-based non-government organization (NGO), launched a recovery program that will support vulnerable communities in Visayas and Mindanao affected by Typhoon Odette. 

“We will bring our six-week recover program to over 22,500 families in the next six months to build resilience and help them heal so they can restart their businesses and savings,” said David Sutherland, ICM chief executive officer, at the Feb. 8 project launch. 

Because ICM has over 33 operational branch offices across the country, it has been able to strengthen connections with local pastors, community healthcare champions, and savings group leaders to deliver meals and reconstruct churches, he added. 

Since the typhoon hit in December 2021, ICM’s relief efforts have reached over 63,000 families and counting. These can be viewed via a monitoring dashboard which is updated in real time.  

Relief responses from the United Nations and the United States Agency for International Development have also ramped up due to mounting damages. This includes infrastructure damage of P17.7 billion and agricultural damage of P13.4 billion as of mid-January, according to various government agencies. 

While ICM is still continuing its relief efforts, the newly launched recovery program will mark a transition towards support in rebuilding lives and livelihoods.  

“We will implement projects in communities spanning seven provinces (Palawan, Negros Occidental, Negros Oriental, Bohol, Cebu, Leyte, and Surigao),” said Mr. Sutherland, adding that they plan to expand the program in the future. 

“From February to May 2022, we aim to reach and serve over 20,000 families from 750 communities,” he added. 

Aside from goods and services, there will also be a technical aspect to the program, with small grants for communities including business box kits for restarting livelihoods and guided assistance from community leaders and partners. — B. H. Lacsamana

Primex Corp.’s P5-B tower set for turnover in Q3

PRIMEX Corp. said the office and commercial floors of its P5-billion Primex Tower in Greenhills will be ready for turnover by the third quarter this year as the building nears completion.

“The topping-off ceremony brings the Primex Tower a step closer to full completion. Soon, locators will be able to enjoy not only its accessible location but also its panoramic 360-degree view of the whole Metropolis,” Primex Executive Vice-President Karlvin Ernest L. Ang said in a statement.

The company broke ground for its flagship glass skyscraper in 2018. It has since received a Grade A LEED (Leadership in Energy and Environmental Design) certification.

“This new mixed-use tower represents the model for our future developments,” Mr. Ang said.

Primex Tower is 50 floors high with 29 levels allocated for lease for office and commercial use. It also has a 10-floor parking area.

The building will also house a five-star hotel Pullman Manila on the top 11 floors. Pullman Manila will have 194 guest rooms, an executive lounge, meeting rooms, function rooms, an all-day dining restaurant at its sky lobby, a fitness center, and a rooftop restaurant and bar.

Primex said the office and commercial floors will be ready for turnover by the third quarter this year, while Pullman Manila will be open to the public by the end of 2023.

The tower was built on a 1,944 square-meter (sq.m.) lot at EDSA corner Connecticut and Florida streets. Primex wholly owned unit Prime Realty Corp. is in charge of its development.

“The COVID-19 (coronavirus disease 2019) pandemic during the past two years proved to be a challenging adversary for the whole nation, but we at Primex took it head-on and with the dedication and hard work of all the people involved, from the tower’s design to the development and construction process, this iconic building has come to life,” Mr. Ang said.

During the topping-off ceremony, Primex Chairman and President Ernesto O. Ang also said the company has more upcoming projects. Primex will be developing its properties in Tagaytay, Gilmore Ortigas Ave, and Annapolis Greenhills.

Primex shares at the stock exchange closed unchanged at P2.25 apiece on Tuesday. — Keren Concepcion G. Valmonte

1...5,1905,1915,192...12,599Page 5,191 of 12,599
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube