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SEC extends filing date of ‘dirty money’ data

THE Securities and Exchange Commission (SEC) is extending the submission deadline of ‘dirty money’ risk reports until the end of November.

A link to the Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) Inherent Risk Assessment Data Form (AIRDF) for the year 2020 may be accessed through a notice on the SEC’s website.

Securities brokers and dealers, investment houses, underwriters of securities, financing and lending companies, among others, are required to accomplish the report, which assesses the covered person’s (CP) products and services, customer profile, delivery and financial service channels, and the geographical location of customers and other parties included in its transactions.

“The information gathered through the AIRDF shall likewise be used by the commission in implementing its risk-based supervision of the SEC CPs,” the regulator said.

Failure to submit an accomplished AIRDF by Nov. 30 will be considered a violation of SEC Memorandum Circular No. 26, Series of 2020 or the Guidelines in the Implementation of a Risk-Based Approach to AML/CFT and Adoption and Development of a Risk Rating System for SEC Covered Persons.

Violations may result in monetary fines, the issuance of a permanent cease-and-desist order, and a suspension or the revocation of certificate of incorporation. Noncomplying entities may also be subjected to the dissolution of the corporation and the forfeiture of its assets under conditions stated on the Revised Corporation Code.

It may also be grounds for the revocation of the secondary license of the noncompliant corporation. — Keren Concepcion G. Valmonte

Entertainment News (10/19/21)

5 ABS-CBN films to be adapted in Bollywood

BOLLYWOOD is getting its first taste of Philippine cinema as ABS-CBN Film Productions is forging a deal with India’s Global One Studios for the adaptation of five of its box office hits. The deal, which will involve five movies starring Kathryn Bernardo and Daniel Padilla, marks the first time that Filipino movies will be adapted in India, India’s multi-billion-dollar cinema market produces about 800 films and sells about four billion tickets.

“We are thrilled to have our movies adapted for the Indian market.  It is a welcome opportunity for ABS-CBN Films to share our well-loved and heartfelt Philippine stories and become a source of inspiration for global audiences,” ABS-CBN Films managing director Olivia Lamasan said in a statement. “The Philippines and India share many common values, among which is the strong love for family that resonate in our films and will soon be experienced by the people of India.”

“We are happy to be associated with ABS-CBN Films to bring their well-crafted love stories to the people of India by adapting their heartrending films in Indian languages. Family bonding and cultural values are common to both Philippines and India, which are captured seamlessly in their films,” said Ramesh Krishnamoorthy, President of Global One Studios in the same statement.

Global One Studios is slated to produce remakes of Barcelona: A Love Untold, Can’t Help Falling in Love, Crazy Beautiful You, She’s Dating the Gangster, and The Hows of Us which was the Philippines’ top-grossing film in 2018. The deal is in line with ABS-CBN’s pursuit to expand globally by bringing its content across different continents and platforms.

GMA Network launches GMA Zamboanga

GMA Network is launching the latest addition to its growing number of regional TV stations, GMA Zamboanga. The station is its fourth TV station in Mindanao and its 10th regional TV station in the country.

With GMA Zamboanga, the GMA’s local and national programs will be accessible to viewers in Western Mindanao via GMA Channel 9 Zamboanga and GMA Channel 12 Jolo (Sulu).

Located in Zamboanga City, GMA Zamboanga will be GMA Regional TV’s (RTV) Western Mindanao hub. It boasts of a state-of-the art studio and services viewers in the Zamboanga Peninsula, specifically Zamboanga City and the provinces of Zamboanga del Sur, Zamboanga Sibugay, and Zamboanga del Norte. It is accessible to viewers from the nearby provinces of Basilan, Tawi-Tawi, and Sulu.

“GMA Network, thru GMA Regional TV, remains steadfast in our commitment to deliver local news that matters and stories that inspire through multiple languages and dialects in various communities across the Philippines. As we open GMA Zamboanga Station as our Western Mindanao hub, we are grateful to our viewers and partners for your continued support. Makakaasa kayong, mananatili kaming ‘Buong Puso para sa Pilipino,” GMA Regional TV and Synergy First Vice-President and Head Oliver Victor Amoroso said in a statement.

Providing local news and features is the local Mindanao newscast GMA Regional TV One Mindanao. Anchored by veteran print and broadcast journalist Sarah Hilomen-Velasco, GMA Regional TV One Mindanao airs weekdays at 5 p.m. Joining Velasco are her co-anchors Jandi Esteban from GMA Davao on Mondays, Cyril Chaves from GMA Cagayan de Oro on Tuesdays, Argie Ramos from GMA Zamboanga on Wednesdays, Sheillah Vergara-Rubio and Rgil Relator from GMA Davao on Thursday and Fridays, respectively.

GMA Zamboanga will also carry the morning program At Home with GMA Regional TV which airs weekdays at 8 a.m. Hosted by Resci Rizada and Cyril Chavez, with co-host Argie Ramos, the show is a mix of information and entertainment.

Aside from GMA Zamboanga the network’s regional TV stations are GMA Dagupan and GMA Ilocos (reaching Northern and Central Luzon), GMA Bicol (reaching the Bicol Region), GMA Cebu (reaching Central and Eastern Visayas), GMA Iloilo and GMA Bacolod (reaching Western Visayas), GMA Cagayan de Oro (covering Northern Mindanao), and GMA Davao and GMA General Santos (which cover South Central and Southern Mindanao).

24 Oras is 1st PHL newscast to livestream locally on TikTok

GMA Network’s flagship newscast 24 Oras is the first Philippine newscast to livestream locally on video-sharing app TikTok. The service began on Oct. 11. This comes on the heels of the launch of the newscast’s official TikTok account, @24Oras, last month. It has 691,900 followers, 5.3 million likes, and 276.5 million views as of Oct. 14.

Anchored by Mel Tiangco, Mike Enriquez, and Vicky Morales, 24 Oras delivers news and information on weeknights. Its weekend newscast, 24 Oras Weekend, is anchored by Pia Arcangel and Ivan Mayrina.

According to a company statement, with “the 24 Oras livestream on TikTok, GMA’s primetime newscast widens its reach to make news and information available to more people including the younger audience. At the same time, it aims to teach more netizens about media literacy — using one of today’s leading social media platforms in promoting factual reportage.”

Last month, 24 Oras launched its #24OrasChallenge on the app wherein viewers were invited to join the show’s anchors in reporting the news by reading from a teleprompter. The challenge drew over 47.7 million views and more than 21,000 duets made with 25 published challenge videos as of Oct. 14.

The #24OrasChallenge also produced spiels in local dialects such as Hiligaynon, Bisaya, Bikolano, Cebuano, and Tagalog which featured GMA Regional TV anchors and personalities.

“Tiktok is fast becoming the platform of choice for younger viewers. With new innovations by our Digital teams, we want to keep them informed, engaged, and up to date with the news they need to know,” said Jaemark Tordecilla, GMA Network Senior Assistant Vice-President for News and Public Affairs Digital Media, in the statement.

Ben&Ben collaborates with Taiwanese singer WeiBird

FILIPINO folk-pop collective Ben&Ben has had commercial and critical success this year. Its sophomore album, Pebble House, Vol. 1: Kuwaderno has surpassed 30 million streams on Spotify. After achieving records in both streaming and digital sales and sending their songs to the top of the music charts, Ben&Ben have collaborated with best-selling Taiwanese singer-songwriter WeiBird on the song “Cheap Love.”

“Cheap Love” is the first single off WeiBird’s first official English album. It follows the success of his fifth studio album, Sounds of My Life, which peaked at No. 1 on Taiwanese album charts in 2020, and received four nominations at the 32nd Golden Melody Awards, including Album of the Year and Best Mandarin Album. The track also serves as the second international collaboration of Ben&Ben after “Leaves,” featuring K-pop star Young K.  “Cheap Love” is available on all digital music platforms via Sony Music Taiwan.

Zack Tabudlo releases new LP

ZACK Tabudlo releases his first full-length album Episode, a collection of songs based on his personal experiences with love, life, and the challenges that he had to overcome while chasing his dreams. These personal stories are brought to life in the 14-track LP.

“Episode is a word that gave such an impact to me at times where I was at my lowest,” Mr. Tabuldo said in a statement. “People would say ‘here he is with another episode’ or another stage of problems, where obviously not anyone would want to experience. It’s ironic to put it as an album title but it’s how I went through these stories, with these episodes. Everything is based on personal experiences, from heartbreak and love, from life to unfortunate events.”

Mr. Tabuldo was the sole writer and producer on the album, and even mixed and mastered all 14 tracks. He explored various musical styles while working on these songs, ultimately creating his own sound with influences from pop, R&B, bedroom electronica, punk rock, and 1980s and ’90s alternative rock.

Episode is Tabudlo’s debut album under Island Records Philippines, a domestic label division under MCA Music. Episode is available on all streaming platforms worldwide via Island Records Philippines and MCA Music, Inc. (https://zacktabudlo.lnk.to/Episode).

Wovensound, Ihasamic! collaborate on single

MUSIC producer Wovensound and rapper Ihasamic! collaborate anew on new single, the hip-hop track “The Constant.” “With sultry R&B vocals from Sreshya, introspective verses from ZFRL and Ihasamic! himself, and a smoky, downtempo production from Wovensound, the massive new tune echoes the group’s frustrations and fears over the uncertainty that’s been clouding their headspace during this time of forced withdrawal,” says a statement. “The Constant” is available on all music streaming platforms via Umami Records (https://www.umamirecords.sg/the-constant/).

RWM wins Star Awards Concert of the Year

RESORTS World Manila (RWM) bagged the Concert of the Year Award for Lea Salonga Perfect Ten: A Gala Performance at the Philippine Movie Press Club’s 12th Star Awards for Music.

Ms. Salonga performed for two nights at the Newport Performing Arts Theater in celebration of RWM’s 10th anniversary, and was joined by guests including Esang de Torres, Nicole Chien, stage actress Tanya Manalang, and singer, stage actor, and writer Michael K. Lee, who starred alongside Ms. Salonga in Miss Saigon and Allegiance.

“Resorts World Manila has always been a firm believer and supporter of world-class Filipino talent. No other artist exemplifies that talent more than Lea, who helped pave the way for home-grown performers on the global stage,” said RWM President and CEO Kingson Sian who received the award on behalf of the production team. “We have been trying to get her to perform a major solo concert in our theater for quite some time, and to finally have her grace our stage for this Perfect Ten concert was truly the perfect highlight to our 10th anniversary celebration,” he added.

Perfect Ten was presented by RWM in cooperation with Ultimate Shows, Inc. and Full House Theater Company, Inc., featuring the stage direction of Floy Quintos, musical direction by Gerard Salonga, and together with the ABS-CBN Philharmonic Orchestra

Philippines places 15th in global cryptocurrency adoption list

Philippines places 15<sup>th</sup> in global cryptocurrency adoption list

How PSEi member stocks performed — October 18, 2021

Here’s a quick glance at how PSEi stocks fared on Monday, October 18, 2021.

Stocks rise on positive data, gradual reopening

BW FILE PHOTO

PHILIPPINE shares continued to post gains on Monday on the back of positive economic data and eased restrictions in Metro Manila.

The Philippine Stock Exchange index (PSEi) inched up by 6.35 points or 0.08% to close at 7,219.81 on Monday, while the broader all shares index shed 17.88 points or 0.40% to 4,430.93.

“Upbeat OFW (overseas Filipino workers) remittances and [the] reopening of [the] economy [is] keeping [the] PSEi resilient,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message.

Data released by the Bangko Sentral ng Pilipinas last week showed cash remittances went up for the seventh consecutive month in August, rising 5.1% year on year to $2.609 billion from $2.483 billion.

The government also eased restrictions in Metro Manila to Alert Level 3, allowing more businesses to resume operations.

“Philippine shares were off to a lukewarm start as investors will be given a snapshot of US industrial production tonight and the housing market highlight on Tuesday,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a separate Viber message on Monday.

“Earnings season is also now in full swing in the US before the Philippines follows in a couple of weeks, and a number of big names are set to report in the next few days,” he added.

US stocks ended higher on Friday after Goldman Sachs became the latest big bank to report strong quarterly earnings, and Wall Street’s three major indexes posted gains for the week, Reuters reported.

Goldman Sachs Group shares jumped, giving the Dow its biggest boost, as a record wave of dealmaking activity drove a surge in the bank’s quarterly profit.

Results from the big financial institutions last week provided a strong start to third-quarter US earnings, though investors will still watch in coming weeks for signs of impacts from supply chain disruptions and higher costs, especially for energy.

Mr. Limlingan said “anticipation is for solid corporate earnings against concerns about inflation and the economy’s recovery.

Sectoral indices were split on Monday. Property went up by 47.02 points or 1.41% to 3,377.20; financials gained 11.09 points or 0.70% to finish at 1,584.96; and mining and oil rose 20.24 points or 0.18% to 10,748.17.

Meanwhile, services lost 22.94 points or 1.2% to 1,880.06; holding firms declined by 32.75 points or 0.46% to 7,048.31; and industrials went down by 24.97 points or 0.23% to end at 10,587.65.

Value turnover increased to P11.25 billion with 1.1 billion shares switching hands on Monday from the P10.56 billion with 1.22 billion issues traded on Friday.

Decliners beat advancers, 131 versus 67, as 42 names remained unchanged.

Net foreign buying more than tripled to P847.51 million from the P274.53 million logged on the previous trading day. — K.C.G. Valmonte with Reuters

Peso drops vs the dollar on weaker-than-expected China GDP growth

BW FILE PHOTO

THE PESO weakened versus the greenback on Monday due to cautious sentiment as China’s growth came in slower than expected.

The local unit closed at P50.84 per dollar on Monday, weaker by 12.9 centavos from its P50.711 finish on Friday, based on data from the Bankers Association of the Philippines.

The peso opened Monday’s session at P50.73 per dollar. Its weakest showing was at P50.89, while its intraday best was at P50.72 against the greenback.

Dollars traded slipped to $829.49 million on Monday from $957.74 million on Friday.

The peso depreciated from its previous close after the release of data showing China logged weak economic growth in the third quarter.

China’s gross domestic product (GDP) grew by 4.9% in the July-September quarter from a year earlier, its weakest pace since the third quarter of 2020, Reuters reported on Monday.

The world’s second-largest economy is grappling with power shortages, supply bottlenecks, sporadic coronavirus outbreaks and debt problems in its property sector.

Meanwhile, a trader said the peso weakened on market preference for the dollar after an unexpectedly strong US retail sales report.

The US Commerce department reported on Friday that retail sales rose 0.7% in September following the 0.9% in August. Last month’s print was stronger than the 0.2% forecasted by economists polled by Reuters.

The US dollar headed back on Monday towards a one-year high hit last week as rising inflation expectations and higher bond yields boosted its appeal against its rivals, Reuters reported.

The dollar index rose 0.1% to 94.02, edging it back toward last week’s one-year high of 94.563 which was the highest level since September 2020.

For Tuesday, Mr. Ricafort gave a forecast range of P50.75 to P50.95, while the trader expects the local unit to move within P50.70 to P50.95. — LWTN with Reuters

Fewer than 7,000 cases posted for second day 

PHILIPPINE STAR/ MICHAEL VARCAS

By Kyle Aristophere T. Atienza, Reporter

THE DEPARTMENT of Health (DoH) reported fewer than 7,000 coronavirus infections for the second straight day on Monday after cases peaked in early September.

There were 6,943 coronavirus new cases, bringing the total to 2.73 million, it said in a bulletin. The death toll rose to 40,761 after 86 more patients died, while recoveries increased by 19,687 to 2.62 million.

There were 68,832 active cases, 79.7% of which were mild, 5.5% did not show symptoms, 4.5% were severe, 8.42% were moderate and 1.9% were critical.

The agency said 25 duplicates had been removed from the tally, 16 of which were reclassified as recoveries, while 30 recoveries were relisted as deaths. Two laboratories failed to submit data on Oct. 16.

“Nationally, our cases have been going down since our peak in early September,” Health Undersecretary Maria Rosario S. Vergeire told an online news briefing. Daily infections fell by 23% from a week earlier.

The Philippines had a daily average of 7,732 cases from Oct. 13 to 17, compared with 10,067 from a week earlier.

The country and most regions were at moderate risk from the virus, Ms. Vergeire said. But more than 70% of COVID-19 beds or intensive care units in several regions had been used, she added.

Meanwhile, Ms. Vergeire said 84.6% or 633 of 748 coronavirus infections tested on Oct. 16 were of the more contagious Delta variant, bringing the total to 4,431.

Three more Alpha variant infections and six Beta variant cases were detected in DoH’s latest genome sequence runs.

Ms. Vergeire said 88.46% or 15,168 of 17,147 samples sequenced as of Oct. 16 contained Sars-Cov-2 lineages. She added that 70.4% of the 15,168 samples were either Alpha, Beta or Delta variants.

The Delta variant has been detected in 17 regions of the country and all 17 local government units in Metro Manila, she said.

Of the 961 returning migrant Filipinos tested, 67% or 645 had tested positive for a coronavirus variant of concern, Ms. Vergeire said.

An inter-agency task force last week placed Metro Manila under Alert Level 3 from Oct. 16 to Oct. 30, allowing more nonessential businesses such as cinemas to reopen at reduced capacities.

The capital region’s seven-day average of new coronavirus cases have gone down by 27% or 533 cases, Ms. Vergeire said.

“As we safely reopen the economy, mobility will increase,” she said. “Maintaining the detection-to-isolation intervals at four days or further shortening this can counter its negative impact.”

Ms. Vergeire said the government should vaccinate more senior citizens and seriously ill people to ease the burden on hospitals and reduce deaths.

The Philippines, which scored poorly in a global index that measured the recovery of more than 100 countries from the coronavirus pandemic, is boosting its vaccination drive to reach its target of inoculating at least 50% of its adult population by yearend. The government aims to fully vaccinate 70% of the population by February. 

The country on Friday started inoculating children aged 12 to 17 with health complications in eight hospitals in Metro Manila. Ms. Vergeire said 1,509 children have been vaccinated against the coronavirus as of Oct. 16.

She confirmed reports that four children had experienced side effects after getting vaccinated. One experienced high blood pressure, one had an allergic reaction, and two experienced stress-related reactions. “This is still being studied by our vaccination sites and our vaccine cluster.”

The vaccination of minors went smoothly because clearance from doctors and the consent of parents had been obtained in advance, she added.

Philippine President Rodrigo R. Duterte last week took responsibility for the shortage of coronavirus vaccines in the country early this year.

The president last month criticized rich countries for hoarding vaccines while poor countries struggled to  secure shots for their people. He described vaccine hoarding as a shockingly “selfish act” that should be condemned.

Earlier this year, Mr. Duterte accused the European Union of holding up vaccine supplies from other  countries, citing the economic bloc’s export rule that requires drugmakers to obtain permission first  before shipping out coronavirus vaccines.

The tough-talking leader has repeatedly threatened to order the arrest of Filipinos who refuse to get vaccinated against the coronavirus.

Substitution now getting old as a political strategy, analysts say

By Russell Louis C. Ku and Alyssa Nicole O. Tan

POLITICAL parties risk losing votes if they use substitution as a strategy to buy time in choosing their presidential bets, according to analysts.

“They may succeed in hurdling legal obstacles, but I doubt they will gain the support of more voters,” Dennis C. Coronacion, who heads the University of Santo Tomas Political Science Department, said in a Viber message.

Filipinos might now be wary of substitution, which President Rodrigo R. Duterte used in the 2016 presidential race. His presidential run did not become official until the last minute.

Subsitution allows a political party to replace a member who filed a certificate of candidacy with a another member. Filing ended on Oct. 8 but substitution is allowed until mid-November.

“It would be unwise for the administration party or its allies to resort to it again,” Mr. Coronacion said.

Lakas-CMD Secretary-General Prospero A. Pichay, Jr. earlier said they fielded placeholders for president and vice president, hoping that Davao City Mayor and presidential daughter Sara Duterte-Carpio will change her mind and run for president.

The party no longer expected Ms. Carpio to run and was considering former Senator Ramon “Bong” B. Revilla, Jr. as its presidential bet.

Senator Ronald M. de la Rosa, who filed to run for president under the PDP-Laban party, has also said he was ready to give his slot to Ms. Carpio, who is running for reelection as Davao City mayor.

“Although this kind of political machination is to be expected from our political elites, their goal has always been to acquire power by any means possible,” Michael Henry Ll. Yusingco, a senior research fellow at the Ateneo de Manila University Policy Center, said in a Viber message. “Misusing legal mechanisms to their advantage is simply par for the course for them.”

Meanwhile, analysts said the coronavirus pandemic had made Filipinos more politically mature and could spur them to vote based on issues rather than personalities.

“Apathy is out of the picture,” Enrico V. Gloria, an International Relations assistant professor from the University of the Philippines Diliman, said in an e-mail. “Especially given how the pandemic was mismanaged, it is very clear to the average Juan that whoever we elect has a direct influence on the quality of life he’s able to enjoy.”

“A lot of people are beginning to realize that the current administration’s pandemic response is inadequate,” UST’s Mr. Coronacion said. “Health will definitely be on top of the voters’ selection criteria.”

Thirty-seven celebrities and 13 athletes are gunning for national and local positions next year. Filipinos have a record of voting for popular candidates who know nothing about governance.

As of Sept. 30, 63.7 million Filipinos have registered for the elections next year, according to the Commission on Elections. Voter turnout in 2016 was 81.95% or 44.5 million out of 54 million voters.

There seems to be a “hunger” for participation, Mr. Gloria said, citing “preposterously long queues” at registration sites.

Young voters would have a big impact on elections results next year, Mr. Coronacion said, adding that social media campaigns would become the name of the game.

“Content-generation in this medium, however, is more democratized and varied,” he said. “There is the challenge to filter legitimate content, but also the opportunity to capitalize on a digital grassroots pool of supporters who can more efficiently diversify the candidates’ clout and reach.”

Storm Maring toll: 40 reported deaths, 22 towns, cities under state of calamity 

LA UNION PROVINCIAL GOV'T

REPORTED deaths due to floods and landslides triggered by severe tropical storm Maring, with international name Kompasu, has reached 40 while 11 others were missing and five injured, based on the Oct. 18 report from the national disaster management agency. 

Declarations of state of calamity have been issued in 22 localities, which would allow the release of local funds for disaster response. These are in Narra, Palawan; Dagupan City in Pangasinan; and the entire province of La Union with 19 towns and one city.   

Of the total deaths reported, 23 have been confirmed while the rest are still under further validation, according to the National Disaster Risk Response and Management Council (NDRRMC). 

The number of affected families stood at 158,510 composed of more than 626,000 people. These are in the regions of Ilocos, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Cordillera, Western Visayas, and Caraga.   

NDRRMC said of those affected, almost 50,000 people were displaced and still in evacuation centers or staying with relatives or friends.  

More than 300 road sections and bridges were affected, but most of these were already passable as of Monday.   

There were 7,268 houses damaged, with 321 totally destroyed.  

Maring, the 13th typhoon in the country this year, entered on Oct. 7 as a tropical depression. It absorbed the remnants of a succeeding typhoon named Nando and intensified into a severe tropical storm, packing winds of up to 100 kilometers per hour (km/h) and gustiness of up to 125 km/h. It exited the Philippine area on Oct. 12. — Marifi S. Jara 

Orani town expands PayMaya use for services, transactions 

PAYMAYA OFFICIAL FACEBOOK PAGE

THE COASTAL town of Orani in Bataan has tapped digital payments firm PayMaya Philippines, Inc. for the delivery of social service programs, tax payments, and other transactions as it aims to become a “digital-first community.”   

“At Orani, we are always finding ways to help our citizens and businesses thrive in the New Normal. This initiative with PayMaya will accelerate our thrust to promote digital transactions among our citizens,” said Mayor Efren E. Pascual, Jr. in a statement Monday from PayMaya.   

Among the initial uses rolled out for PayMaya include the distribution of financial assistance to senior citizens, cash-aid for health services, scholarship for Grades 7-10 students, and allowances for barangay-level officials and other workers.   

At the municipal hall, payment of taxes and other government fees can now be done through PayMaya QR or PayMaya One, the all-in-one Android-based payment device for any credit, debit, prepaid card, and other e-wallets.  

The company said taxpayers will also soon have the option to pay via the local government’s website with PayMaya’s online payment gateway, PayMaya Checkout.   

Merchants at the Orani Public Market and Orani Fish Port will also be equipped to accept payments via PayMaya QR.    

“We cannot wait to create a digital-first community wherein our residents can transact seamlessly, safely, and conveniently with our government offices and enterprises through PayMaya’s digital platforms,” Mr. Pascual said.  

Orani is classified as a first-class municipality with a population of more than 70,000 as of 2020.   

“We are very excited at PayMaya to help accelerate Orani’s drive towards becoming a world-class and digitally-driven municipality,” Orlando B. Vea, company founder and chief executive officer, said.  

PayMaya is a subsidiary of Voyager Innovations, Inc., the digital arm of PLDT, Inc.  

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.  

Transport dep’t eyeing to increase subsidy for PUVs amid fuel price hikes 

PHILIPPINE STAR/ MIGUEL DE GUZMAN

THE TRANSPORTATION department on Monday said it is planning to increase the incentives it provides, through the service contracting program, to public utility vehicle (PUV) operators and drivers as a way to mitigate the impact of rising fuel prices. 

In a statement, Transportation Secretary Arthur P. Tugade said the department has formally proposed to the Land Transportation Franchising and Regulatory Board (LTFRB) and the Department of Energy (DoE) that PUVs be given a uniform discount at gas stations nationwide.   

Mr. Tugade also urged drivers and operators to take part in the government’s service contracting program where they will get paid on per kilometer basis to ensure that their operations remain “viable.”  

“Sa binabayad na insentibo sa ilalim ng service contracting, kinonsidera po natin ang gastusin sa krudo (the incentive covers the fuel cost),” he noted. 

“In consideration of the oil price hike, we are studying to increase the incentive for every kilometer,” Mr. Tugade added in Filipino. 

In a phone message to BusinessWorld, Transportation Assistant Secretary Goddes Hope O. Libiran said the government currently pays public buses under the service contracting program P82.50 per kilometer. The subsidy per kilometer for jeepneys and other small modes of transportation under the program is P52.50.  

Oil prices increased again this week by P1.8 per liter for gasoline, P1.5/L for diesel, and P1.3/L for kerosene. — Arjay L. Balinbin 

Comelec expects 64M voters after Oct. 30 registration deadline 

THE COMMISSION on Elections (Comelec) is expecting up to half a million more people who will enlist before the registration period deadline on Oct. 30, which will bring the number of voters in next year’s polls to 64 million.  

During the Senate finance hearing on Monday, Comelec Chairman Sheriff M. Abas said the projected number of registrants for the month of Oct. is from 350,000 to 500,000.   

Senator Maria Imelda Josefa “Imee” R. Marcos reiterated her plea for a two-week extension period for the registration of overseas Filipino voters, which ended earlier on Oct. 14.  

“At least for the most populous or the consulates with the most Filipinos to allow our OFWs (overseas Filipino workers) to vote,” she said, adding that seafarers are among those who need the consideration.   

Mr. Abas said the commission will take up the proposal on Wednesday. “I think it’s a good idea to cater only to those (areas)… where there are many who have yet to register.” — Alyssa Nicole O. Tan 

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