Taft Hydro Energy switches on 16-MW hydropower project

March 18, 2022 | 12:03 am

TAFT Hydro Energy Corp. announced on Thursday that its 16-megawatt (MW) hydropower project has started commercial operations after an almost three-month delay, boosting power supply in Samar and Leyte.

“Hydro projects are challenging to build but despite the pandemic [the company] did it in record time of less than two years,” Taft Hydro Energy President Benjie Q. Picardo said in a statement.

He cited the support of the Department of Energy, Development Bank of the Philippines, electric cooperatives, the local government of Eastern and Western Samar, local communities “and our workers on the ground who went the extra mile so we can complete this project on time and on budget.”

The project uses of the running water in Taft-Tubig river to secure affordable power in the Samar-Leyte area. It consists of three units with 5.9 MW each.

The company earlier said the facility would provide power during the holiday season, as it was initially expected to be turned on by December last year.

The hydropower project is seen to boost the potential of the tuna industry in the area, which is part of the so-called “tuna highway,” as logistics and cold storages were hampered by the lack of power.

“At the same time, the completion of the project will create a major economic multiplier by the opening of investment opportunities in cold storage, processing plants, and even in tourism,” Mr. Picardo said.

Taft Hydro Energy is a project company under the Filipino-led Magis Energy Holdings Corp. to spur growth specifically in rural communities by developing renewable energy facilities. The 8.6-MW Matuno River Development Corp. in Nueva Vizcaya is also under Magis Energy. — Marielle C. Lucenio

What to see this week (03/18/22)

March 18, 2022 | 12:03 am

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Paw Patrol

WHEN the Paw Patrol’s biggest rival, Humdinger, becomes Mayor of nearby Adventure City and starts wreaking havoc, Ryder and the puppies fight to save the citizens of the city. Directed by Cal Brunker, this animated film features the voices of Iain Armitage, Marsai Martin, Ron Pardo, Yara Shahidi, Kim Kardashian, and Randall Park. Variety’s Courtney Howard writes, “The filmmakers take great craft and care building out this universe — one where dogs speak to humans and a 10-year-old drives an RV — in order to tell an expansive tale with empathy, complexity and engaging character dynamics, all while retaining the spirit of the series and keeping lessons digestible for young audiences.” Review aggregate site Rotten Tomatoes’ Tomatometer gives the film a 80% and the audience score is 97%.

MTRCB Rating: G

Ambulance

DECORATED veteran Will Sharp seeks the help of his adoptive brother to pay his wife’s hospital bills. When his brother gets him involved in a bank heist, they find themselves in a hijacked ambulance with a wounded passenger, while the authorities are close in. Directed by Michael Bay, the film stars Jake Gyllenhaal, Yahya Abdul-Mateen II, Eiza González, Garret Dillahunt, Keir O’Donnell, and Moses Ingram

MTRCB Rating: R-13

Tugawin rules the Ronda Tarlac-Baler Stage Seven

March 18, 2022 | 12:02 am

BALER, Aurora — Ryan Tugawin was living a simple life with simple dreams as a farmer in Solano, Nueva Vizcaya. And then he discovered cycling and began to have dreams of grandeur.

Carrying with him that ambition, Mr. Tugawin claimed the second stage win of his life as he reigned supreme in the 174.5-kilometer Tarlac-Baler Stage Seven in the 11^th LBC Ronda Pilipinas on Thursday.

The 32-year-old Mr. Tugawin timed in four hours, 31 minutes and 16 seconds in snaring the stage triumph, his second in this annual cycling spectacle after topping the Sorsogon-Legazpi Stage Two a couple of years back.

Mr. Tugawin edged El Joshua Carino of Navy Standard Insurance, who clocked the same time, and Marcelo Felipe of Team Nueva Ecija, who wound up third at 4:31:18.

The recent feat sent Mr. Tugawin back into the top 10 at 23:31:29 after falling out of it following a minor mishap in the Daet-Lucena Stage Five on Sunday.

And the recent feat kept Mr. Tugawin’s dream of making it big in the sport someday alive.

“I could have been in the top five until now if I hadn’t encountered mechanical problems in Stage Five,” said Mr. Tugawin, who was third in Sorsogon-Legazpi Stage Three last Saturday.

“But I’m back in the top 10 and I’m still hopeful of achieving my dream of becoming a champion here,” he added.

While Mr. Tugawin chased his aspiration, Ronald Oranza of Navy Standard Insurance successfully foiled his closest rivals’ bid to snatch the overall lead from him, finished in a group that checked in at fourth in the stage in 4:32:18 and kept his stranglehold of the No. 1 spot at 23:18:22.

Jan Paul Morales of Excellent Noodles edged Mr. Oranza in the King of the Mountain lap in the mountain passes of Aurora but couldn’t shake off the latter to stay at No. 2 at 23:19:04.,

Jonel Carcueva of Go for Gold was with the same pack as Messrs. Oranza and Morales and sat at No. 3 at 23:21:19.

The 2018 Ronda titlist will continue to don the red LBC jersey in Friday’s 174.4km Baler-Echague, Isabela Stage Eight where the marked riders are expected to keenly guard one another.

“It will be the same in the next stage. But I think the winner will be decided in Baguio,” said Mr. Oranza referring to the Santiago City-Baguio Stage Nine where they would tackle the dangerous ascents in the backdoor to Baguio from Bayombong tomorrow.

Rounding out the top 10 were Ronald Lomotos of Standard Insurance (23:27:22), Felipe (23:28:09), Carino (23:29:28), Jeremy Lizardo of Navy Standard Insurance (23:29:39), Tugawin (23:31:29) and Go for Gold’s Jericho Jay Lucero (23:32:13) and Daniel Ven Cariño (23:33:24).

Navy Standard Insurance was untouchable in the team race with a clocking of 67:17:49 followed by Excellent Noodles (67:31:05) and Go for Gold (67:43:00).

Australian unemployment drops to 4% in boost for rate hawks

March 18, 2022 | 12:02 am

AUSTRALIA’S jobless rate fell to a 13-1/2 year low as the economy added more jobs than expected last month, in a result that’s likely to embolden hawks who are predicting an interest-rate increase as early as June.

Unemployment declined to 4% in February, the lowest level since August 2008, Australian Bureau of Statistics data showed on Thursday. Employment rose by 77,400 from a month earlier, led by full-time roles, and more than doubled economists’ estimates. Labor market participation also moved higher.

“Participation rose to a new record high in February and was around 0.6 percentage points higher than the start of the pandemic,” Bjorn Jarvis, head of labor statistics at the ABS, said in a statement. “The increase in participation continues to be particularly pronounced for women.”

The Australian dollar pushed higher to break above 73 US cents following the data. It was trading at 73.18 cents at 11:58 a.m. in Sydney. The three-year bond yield was little changed at 1.87%, having climbed 6 basis points earlier.

The result suggests the Reserve Bank is likely to soon see the wage rises it wants before raising rates, with leading indicators pointing to the labor market tightening further. Money markets are pricing an RBA hike in June, while most economists have settled on August for rate liftoff.

Job ads data released last week showed construction and mining, mobile plant operators, animal and horticulture, education and healthcare are facing the sharpest labor squeeze at the moment.

RBA Governor Philip Lowe says policy makers can wait longer before raising rates as inflation Down Under isn’t as pressing as in other jurisdictions. He’s testing to see how far he can drive down the jobless rate with a record-low 0.1% cash rate before wages growth takes off.

His stance contrasts with the Federal Reserve, which raised interest rates for the first time since 2018 on Wednesday, a week after tΩe European Central Bank delivered a hawkish surprise.

Still, Lowe acknowledged last week that Russia’s invasion of Ukraine and the spike in energy prices is likely to give another leg up to global inflation. Indeed, the governor struck a more hawkish tone when he said in a speech that a rate hike later this year is plausible.

The RBA expects that it will take time for inflation to be sustainably in its 2-3% target as the impact of global supply chain blockages and higher commodity prices will eventually wash out. It’s waiting for wages growth to underpin stronger consumer-price gains.

How long that takes depends on the reaction time of wage-setting mechanisms and the impact from the reopening of Australia’s international borders last month. Figures from the ABS on Wednesday showed 49,420 international students — who tend to work part-time in the hospitality industry — entered Australia in February, the most since March 2020.

However, a cap on permanent migration means labor shortages are likely to persist given the jobless rate is moving toward territory unseen for 50 years. — Bloomberg

BSP proposes rules for compensation of NSSLA officials

March 18, 2022 | 12:02 am

THE CENTRAL BANK is proposing a maximum rate of increase for compensation packages of officials and employees of nonstock savings and loans associations (NSSLAs) to ensure financial soundness is maintained.

The draft circular posted on the website of the Bangko Sentral ng Pilipinas (BSP) also seeks to impose compensation restrictions if NSSLAs’ financial condition is tight.

“The board shall establish a sound policy on compensation and per diem, as herein defined, that can be used by the NSSLA to attract/recruit and retain highly qualified workforce.

Based on the proposal, increases in the compensation of trustee and trustee-officers that exceed 10% per annum will need prior approval from the BSP.

Accumulated compensation of all board members should also not exceed 10% of the NSSLA’s net income before tax during the preceding year, in accordance to the Revised Corporation Code.

The BSP said a compensation committee will be in charge of determining thresholds and limits in line with existing regulations. The body will be composed of senior officers who are not trustees or other independent of the organization.

NSSLAs that seek a compensation increase of beyond 10% for their officers need to seek prior approval from the BSP.

These NSSLAs may only apply for approval if the increase is in line with existing laws and has been approved by the majority of their members; the organization has a composite rating of at least 3 “stable”; its capital-to-risk assets ratio is at 10% minimum.

Other conditions that should be met by an NSSLA before applying for a compensation increase of more than 10% include not having continuous losses for the past two years; no major supervisory concern; and not prejudicial to the interest of members.

For its part, the Monetary Board may restrict compensation of NSSLAs for its trustees and officers in order to ensure funds of depositors and creditors are protected.

This will be the case when NSSLAs are found to be in an unsatisfactory financial condition, which could be seen through their impaired capital or if they post a three-year streak in losses. Organizations found to be engaging in practices prejudicial to its members may also be restricted from providing compensation for its officials.

Stakeholders are given until March 27 to give their feedback to the BSP regarding the proposed circular. — Luz Wendy T. Noble

PDEx clears AboitizPower’s P10-B bonds listing

March 18, 2022 | 12:02 am

ABOITIZ Power Corp. on Thursday said it was allowed by The Philippine Dealing & Exchange Corp. (PDEx) to list its P10-billion fixed-rate retail bonds with oversubscription, the final tranche of its P30-billion debt securities program.

In a disclosure to the exchange, the power company said the approval will open the secondary market trading of its Series “D” bonds with a fixed interest rate of 5.3066% per annum maturing in 2027, and the Series “E” bonds with a fixed interest rate of 5.7388% per annum maturing in 2029.

The firm earlier said the proceeds from the bond offering will be used to refinance current and future renewable energy projects, while it targets to expand its portfolio with 50% renewable energy and 50% thermal energy by 2030.

BDO Capital & Investment Corp., China Bank Capital Corp., and First Metro Investment Corp. are the joint issue managers; while BDO Capital, First Metro, and Security Bank Corp. are the joint lead underwriters and joint bookrunners.

AboitizPower recently reported a consolidated net income of P20.8 billion for 2021, higher by 66% than the earlier year’s profit, on the back of commissioning revenues and higher dispatch at the wholesale electricity spot market.

For the fourth quarter alone, AboitizPower reported a consolidated net income of P5.2 billion, down 8% year on year.

At the local bourse, the company’s shares dropped 15 centavos or 0.44% to close P34.15 apiece on Thursday. — Marielle C. Lucenio

Stuff to do (03/18/22)

March 18, 2022 | 12:02 am

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BGC Central Park

BONIFACIO Global City has launched BGC Central Bark, a new off-leash dog park. Located at Sundial Park in front of Seibu Tower, the 600-square meter dog park is a partnership between BGC, Presidential Paws, and PetMe. With its dog-approved features, BGC Central Bark creates an avenue for dogs and their owners to enjoy off-leash activities any day of the week. Members of BGC Central Bark can enjoy full access to supervised facilities, join exclusive park events, and are entitled to discounts at PetMe BGC and at Presidential Paws accessories and grooming lounge. Non-members can still bring their dogs to the off-leash park by getting a day pass for P100. To enter the facilities owners must bring their dog’s anti-rabies vaccination card as well as their own COVID-19 vaccination card. For more information and inquiries, visit BGC Central Bark on Facebook and on Instagram.

Art Fair PHL opens next week

THE POPULAR Art Fair Philippines returns with a hybrid online-on site program from March 23 to April 1. 46 exhibitors will showcase artworks in their respective physical locations and through online viewing rooms at the fair’s website. The fair will also have special performances and exhibitions at the Ayala Triangle area in Makati.

New stores, restaurants open at Ayala Malls

WITH the lowering of the COVID Alert Level to level 1, shops and stores are opening their doors at the various Ayala Malls. An addition to Greenbelt 5’s roster of premium brands is Dior Beauty, a destination for luxury makeup, skincare, and fragrances. It’s the home of such products as Miss Dior Eau de Parfum and the Dior Backstage Contour Palette. Mall visitors can also check out Paul, a sophisticated bakery and cafe with Parisian roots established in 1889. Now open in Greenbelt 5, diners can try authentic French breads, crêpes, sandwiches, macarons, soups, cakes, pastries, coffee, wine, and beer. For a taste of Italy, Cibo is now open in Bacolod’s Ayala Malls Capitol Central. Meanwhile, sweet milk tea cravings can be satisfied as Centrio Mall opens the first Tiger Sugar branch in Cagayan De Oro. For grooming, fitness, and pet care, Ayala Malls also launched Piandre Salon in Ayala Malls Cloverleaf, Kinetix Lab in UP Town Center, and Pooch Park in Ayala Malls Manila Bay. All Ayala Malls are equipped with technologies that ensure their facilities’ regular sanitation and ventilation. Food and drinks are finally allowed inside Ayala Malls cinemas with quality safety in check.

Women’s Month celebration in Araneta City

THIS month, Araneta City joins in celebrating International Women’s Month by offering all Filipinas treats. There is a month-long series of Fitness Exercise sessions where visitors can sweat it out together with Anytime Fitness every 4 p.m. at the Times Square Park (every Monday and Friday) and Farmers Plaza (every Wednesday). Visit the official Facebook and Instagram pages of Araneta City to know what other events and treats await women this month.

Book and exhibit launch of Brave New World

A PROJECT initially created to help artists make a living despite the COVID-19 quarantine has culminated in an exhibit and a coffee-table book. A collection of more than 400 works by over 300 artists was created. The culmination of these efforts is the book, Brave New World. The artists were asked about the role of art in times of crisis. The featured works also bear witness to the new reality of struggle to survive and work. Many artists also sought to honor frontliners as modern-day heroes. The book launch and exhibit opening will be on March 16, 6 p.m., at the Art Lounge Manila in The Podium. Featured artists in the coffee table book include Max Balatbat, Anton Del Castillo, Brave Mabalo Singh, John Paul Antido, Renz Baluyot, Kim Hamilton Sulit, Renato Barja, Jr., Wesley Valenzuela, Michael Villagante, Charlie Co, Antipas Delotavo, Angelito Antonio, Norma Belleza, Michael Cacnio, Ramon Orlina, Demi Padua, Winner Jumalon, Jojit Solano, Joel “Welbart” Bartolome, Sid Natividad, Chelsea Theodossis, Jomike Tejido, Manix Abrera, Roel Obemio, and Alfredo Esquillo, to name a few.

Dance in the time of pandemic webinar

YOUNG dance artists will discuss diverse choreographic choices and creative philosophies in choreography during the pandemic in a free webinar-forum entitled “From Us to You: Checking In on the Dance Community,” on March 18, 5 p.m. The talks are free and open to the public and will be conducted online via Zoom. Hosted by the Arts and Culture Cluster of the De La Salle-College of Saint Benilde, the sessions highlight the artistic practice as a core human need and investigates the significant role of advocacy, leadership, equity and mentorship within an ethos of community care. Interested participants may register through https://tinyurl.com/5ftfppc7.

Things to do before going beyond the minimum wage

March 18, 2022 | 12:01 am

I’m the human resource (HR) manager of a factory with around 250 directly-hired minimum wage earners. Our attrition rate is 30%, which keeps us busy recruiting, onboarding and training on a daily basis. I’m planning to recommend to top management to increase wages to help address the high turnover rate. What are your thoughts on this? — Blue Lagoon.

Prejudice is a great time saver. It allows opinions to form without having to know the facts. So where are your facts and figures? “In God we trust, but everyone else must bring data,” according to pioneering American management consultant W. Edwards Deming (1900-1993). What’s your basis for proposing a salary increase? Do you have enough evidence to convince management about your recommendation? Have you performed objective exit interviews or conducted an employee morale survey to prove your contention that wages are an issue?

If you have nothing to back it up, then making such a recommendation might leave you on thin ice.

The strategy for employee retention must be accompanied by serious thought. Begin with a proactive two-way communication process, led by qualified line executives. Even if HR mandates regular dialogue, the result may not be effective if your supervisors and managers are not qualified. Even if they’re qualified, they may be reluctant to do it.

We can’t discount the fact that line executives are the first line of defense for management. They should be the ones to know the issues and solve them before they can be escalated to HR and top management. They must constantly have their finger on the pulse of workplace relations. They know which workers are habitually tardy or absent, which are some of the most common manifestations of low morale.

Paying the minimum wage and statutory benefits to people is more than an economic discussion. There’s more to it than meets the eye.

ROADMAP
The effect of salary on employee loyalty and motivation is one of the most studied subjects in HR. Even in the absence of a study, many of us might be tempted to default to the conclusion that wages are the main reason for people leaving. I can’t blame you for thinking that or for wanting to go beyond minimum wage.

You’ll need a careful and exhaustive study before increasing wages. Some principles to remember are that money should be tied to worker qualifications and consistent high performance, in alignment with organizational goals. Try resolving your issues using the following roadmap:

One, establish a two-way employee communication process. This includes annual employee opinion surveys, periodic engagement dialogues by line executives and their workers, town hall meetings by the chief executive officer, labor-management cooperation schemes, and many more. Of all these, I’m biased in favor of the survey because it documents the opinions of all workers, and not just the complaints of few disgruntled individuals who may have already resigned, or are well on their way to doing so.

Two, focus and solve the most common employee gripes. The survey can give you an idea on which issues should be priorities. Complaints could include poor supervision, inadequate facilities, unsafe work conditions, unclear job expectations, unreasonable production targets, unfair labor practices, and others. Of course, salary and benefits could well be the reason for your high turnover rate. Whatever other issues may emerge, there is no getting around establishing a reasonable pay structure.

Three, define the most important jobs in the organization. A clear job description is a must for setting recruiting plans, evaluating job processes, managing performance and determining training needs. Job descriptions come in many shapes and sizes depending on the nature of the business. For a factory worker, a simple and clearly-worded job description will suffice, while the job description for supervisors and managers, must necessarily cover more bases.

Last, benchmark the salaries of key jobs with the pay scale in other companies. The ideal approach is to compare your salary practices with competitors. If you’re encountering difficulty securing cooperation from your rivals, then another approach is to benchmark with other companies located within the same locality or geographical area, such as fellow locators in export processing zones. If workers leave your factory, it’s likely that they will join your competitors or companies within the same area.

PAY PHILOSOPHY
Pricing jobs that are over and beyond the minimum wage rates is complex, but we can’t deny its importance in attracting and retaining workers. You must gather data to help you understand worker motivations, which may not be limited to achieving a pay scale that’s more than the minimum wage.

Developing an objective and competitive pay philosophy is needed to reduce attrition, but is not the end-all as workers could be leaving for other reasons.

If you conduct a thorough study that supports increasing pay of the minimum-wage earners over and above what the government requires, it would be easy to start the process of proposing higher wages. Remember that completing the roadmap that I’ve recommended above takes time.

Whatever you’re planning, feel the pulse of your top management before doing anything. Otherwise, all of your plans may be all for nothing.

Have a chat with Rey Elbo via Facebook, LinkedIn or Twitter or send your workplace questions to elbonomics@gmail.com or via https://reyelbo.consulting

POC suspends athletics, tennis groups for 90 days

March 18, 2022 | 12:01 am

THE Philippine Olympic Committee (POC) cracked the whip on the Philippine Athletics Track and Field Association (PATAFA) and Philippine Tennis Association (PHILTA) by suspending the two for 90 days due to separate reasons.

POC President Abraham Tolentino cited noncompliance of the International Tennis Federation (ITF) order to amend its charter and hold new elections as reason for banning PHILTA, which was serving a two-year ban by the ITF in 2020.

For PATAFA, the congressman from Tagaytay said the former allegedly failed to serve its purposed as a national sports association, which was supposed to have “the dedication and commitment toward the development of the sport, promoting the ideals of the Olympic movement and the spirit of sportsmanship.”

“Our constitution states that POC may suspend for any reason. However, it’s transparent that PATAFA has deliberately and intentionally disregarded our basic principles of promoting sports and development,” said Mr. Tolentino.

The PhilCycling chief also cited the non-endorsement of Asian pole-vault record-holder Ernest John “EJ” Obiena to the World Indoor Championship slated for Friday in Belgrade, Serbia and the Hanoi Southeast Asian (SEA) Games set on May 12 to 23 was the last straw.

“Unfortunately, the non-endorsement of EJ has created a national issue. EJ Obiena, under our International Olympic Committee Charter, has two reasons to be endorsed — sports merit and inspiration to the youth,” he said.

“Patafa prioritized its pride, and it saddens [me] to look closely on a chance slowly gripping away. They have withheld an opportunity of the Filipino people to have another world record.

“The time is clearly now for EJ who is mentally and physically prepared. We are in a reachable milestone within our grasp,” he added.

The suspension will be effective for 90 days and will be ratified by the POC General Assembly during its regular meeting on March 30.

If ratified, Patafa will not have any authority over the national athletics team to the SEA Games, which would allow Mr. Obiena a chance to compete and defend his gold medal in Hanoi.

But Mr. Tolentino said both suspensions could be dismissed sooner than their terms.

“If PHILTA complies with the ITF order, and the ITF accepts PHILTA’s compliance, the suspension of the tennis association will be lifted immediately,” said Mr. Tolentino.

For the PATAFA, it is much simpler.

“If the PSC’s mediation effort over Patafa and EJ [Obiena] is completed and ironed out, its suspension will also be lifted,” said Mr. Tolentino.

Nine members of the board voted for the suspension, while two — Charlie Ho (netball) and Cynthia Carrion-Norton (gymnastics) abstained. POC Chairman Steve Hontiveros and International Olympic Committee Representative to the Philippines Mikee Cojuangco-Jaworski were absent from the special board meeting.

The suspensions will give the POC direct supervision over PHILTA and Patafa’s national athletes — including Mr. Obiena — coaches and sporting officials, while financial matters will be under the control of the Philippine Sports Commission (PSC). — Joey Villar

Concerns and commitment of finance industry leaders

March 18, 2022 | 12:01 am

SIXTEEN former presidents of the Financial Executives Institute of the Philippines (FINEX) have issued a joint statement of concern and commitment titled “We Choose Not To Be Silent.” Together they constitute 42% of the 39 living past presidents of the country’s premier finance organization.

“Financial executives serve as the conscience of their respective organizations. As Filipinos, we believe it is our duty to speak up,” they declared. Among the issues they are gravely concerned about are the perceived lack of transparency in the award of government assets and contracts to allied parties; the ballooning of the national debt; the unmitigated unemployment rate; delayed access to critical social and health services; the appointment of certain individuals to critical positions at the Commission on Elections, the Supreme Court, and the Commission on Audit; the compromise of our sovereignty by the defeatist attitude and non-enforcement of the Philippines’ rights to its exclusive economic zone; as well as the proliferation of disinformation and fake news that twist facts and glorify an infamous chapter of our history, referring to the martial law era.

Faced with the gravity of these concerns that curtail the country’s ability to achieve its full economic potential, the 16 FINEX leaders have endorsed the candidacies of Vice President Ma. Leonor “Leni” Robredo and Senator Francis “Kiko” Pangilinan for the presidency and vice presidency. This came after evaluating them as having the best qualities of leadership to lead our country — character, competence, compassion, and commitment.

“We see in them what we expect of ourselves as finance professionals: to uphold high integrity; to stand for truth and probity; to maintain transparency and stewardship; to demonstrate utmost competence; and to drive and achieve excellence,” they stated.

The 16 signatories, whose terms as FINEX President collectively spanned four decades, are as follows: Arsenio M. Bartolome III (1981), Santiago F. Dumlao, Jr. (1989), Edwin V. Fernandez (1991), Dennis D. Decena (1994), Victor Y. Lim, Jr. (1995), Baltazar N. Endriga (1997), Edwin B. Villanueva (1998), Josue A. Camba, Jr. (1999), Edgardo L. Limon (2003), Franklin F. Ysaac (2004), Abelardo V. Cortez (2007), Roberto T. Borromeo (2009), Ronnie B. Alcantara (2011), Ramon G. Opulencia (2012), Judith V. Lopez (2013), and Jose Jerome R. Pascual III (2020).

UPAA NAMES ALUMNI AWARDEES
For its 108^th year, the University of the Philippines Alumni Association (UPAA) recently announced its Distinguished Alumni Awardees for 2021. Heading the elite group of graduates from the country’s foremost state university is National Artist Raymundo “Ryan” Cayabyab, who has been named as the year’s UPAA Most Distinguished Alumnus.

Lifetime distinguished achievement awards were given to nurse Phoebe Cabotaje-Andes, architect Antonio A. Turalba, retired Supreme Court justice Francis H. Jardeleza, and Dr. Reynaldo L. Villareal. Twenty-five other distinguished alumni received awards in different service categories.

Conceived in 1933, the UPAA Awards are based on the concept that “when the prestige of the alumni increases, the prestige of the institution is thereby increased.”

J. Albert Gamboa is the chief finance officer of Asian Center for Legal Excellence and chairman of the FINEX Media Affairs Committee. The opinion expressed herein does not necessarily reflect the views of these institutions and BusinessWorld. #FinexPhils www.finex.org.ph

CTA dismisses funeral service company’s appeal in tax case vs BIR

March 18, 2022 | 12:01 am

THE Court of Tax Appeals (CTA) has denied the appeal of Ortiz Memorial Chapel, Inc. to set aside the tax assessment issued by the Bureau of Internal Revenue (BIR), which found the company liable for deficiency taxes amounting to P6.9 million for the taxable year 2011.

In a 19-page resolution released on March 10, the tax court’s second division ruled that the petition filed was “premature” and that it had no jurisdiction over the case.

It added that the company did not state the nature of the protest, whether it was appealing for reconsideration or investigation, and did not state the date of the tax assessment.

“When a taxpayer files a petition for review before the Court of Tax Appeals without validly contesting the assessment with the Commissioner of Internal Revenue, the petition is premature and the Court of Tax of Appeals has no jurisdiction,” the appellate court said, citing jurisprudence promulgated last year.

The court reiterated that the protest must not only be filed within the prescribed 30-day time period but should also “in such form and manner as may be prescribed by implementing rules and regulations.”

The petitioner is a domestic company based in Tuguegarao City in Cagayan, primarily engaged in the general business of funeral services.

The company argued that it was not liable for the deficiency income assessment because it was never final, executory, and demandable.

On the other hand, the BIR commissioner claimed that the court had no jurisdiction over the petition and that the necessary procedural requirements were duly complied with.

“In order for the court or an adjudicative body to have authority to dispose of the case on the merits, it must acquire, among others, jurisdiction over the subject matter,” the court said. “Thus, when a court has no jurisdiction over the subject matter, the only power it has is to dismiss the actions.” — John Victor D. Ordoñez

Entertainment News (03/18/22)

March 18, 2022 | 12:01 am

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Docu on Antique’s marine treasures

IN 2021, Studio H2O organized an expedition team composed of marine researchers, scientists, and underwater cinematographers to conduct a scientific survey of the reefs in Antique, particularly around the coastal areas of Pandan Bay and Libertad. It also held a freediving workshop for fisherfolk with the intention of teaching them how to survey, protect, and do an inventory of their own marine areas. Their activities were documented in Antique: Where the Mountains Meet the Sea, produced by Studio H2O. The 20-minute documentary, which captures the underwater beauty of the province, will air on the Discovery Channel on March 23, 6:15 p.m., with replays on March 24, at 8:15 a.m. and 11:25 a.m.

Search on for Bida Star Singer

ABS-CBN’s online talent competition, Bida Star Singer, has begun its search for the next online singing sensation. The show is hosted by Karina Bautista, Aljon Mendoza, and Anji Salvacion. The winner will receive an ABS-CBN management and recording contract, a trophy, and P50,000. Filipino citizens aged 18 years old and above can audition until March 18 by visiting forms.abs-cbn/bidastarsinger.

Jeric Gonzales releases new single

ACTOR Jeric Gonzales bares his heart in his latest single under GMA Music, “Hihintayin Kita.” The track, written Louie Ignacio who also directed the music video, tackles how unconditional love overpowers the hardships of waiting. The song was also the theme song for Broken Blooms, the only Filipino film selected to screen at the 41^st Oporto International Film Festival in Portugal. “Hihintayin Kita” is available for streaming on various digital platforms worldwide.

The Clash winners sign with GMA

THE CLASH Season 4 champion Mariane Osabel and finalist Vilmark Viray signed contracts with GMA Music on March 3 in a virtual signing ceremony. Ms. Osabel won Season 4 of GMA Network’s singing competition with her rendition of the pop-ballad song “Bakit Mahal Pa Rin Kita,” which is now available for streaming worldwide under the album The Clash 4 Finalists Sing Originals. Mr. Viray’s recording of “Umuwi Ka Na” is also available for streaming on digital platforms worldwide under the same album.

Issa Rodriguez releases single

ISSA Rodriguez’s latest single, “Silong,” featuring Kyle Juliano, is about the longing for someone who has left. The song is a follow-up to her five-track Ready EP released February of last year. “Silong” is available to stream on digital platforms.

Rex Orange County releases new single,”

ENGLISH singer Rex Orange County’s new single, “Open a Window,” features Tyler, The Creator. The track is the third offering from his new album WHO CARES? This is the first time the two performers have collaborated since Tyler’s 2017 album Flower Boy. “Open a Window” is laid-back with jazzy keys and drums that flow freely behind Rex Orange County’s vocals. The singer has also announced a North American tour before hitting the UK and Ireland in July and August for a four-date string of shows. Tickets are on sale at https://www.rexorangecounty.com/live/. “Open a Window” and WHO CARES? are available on digital platforms.