Finer details for grander living

October 15, 2021 | 11:30 am

OL-Artist_s-perspective-of-3BR-with-Den-Master-Bedroom — Artist’s perspective of 3BR with Den Master Bedroom

Luxury features accent grand living at Grand Hyatt Manila Residences South Tower

As days pass mostly at home, one’s workspace, amusement, comfort, and unique lifestyles might usually depend on a single place.

Elevating the experience of these home activities, Grand Hyatt Manila Residences (GHMR) South Tower lets you live a life in style and luxury with its world-class home systems and its exceptional amenities.

GHMR South Tower teams up with global brands to furnish your space with comely and convenient design. The development is the first Grand Hyatt branded residential condominium in Southeast Asia and lets you experience #LivingGrand marked by a true Grand Hyatt distinction.

Superior furniture from Space 2000

From the kitchen cabinet systems and bedroom closets, GHMR South Tower guarantees that the residential units contain superior furniture with the help of Space 2000.

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Known as one of the pioneers of the modular furniture industry in the Philippines, Space 2000 is a high-end homegrown furniture brand, with materials and hardware manufactured in world-class technology that are mostly based in Europe. Installed in GHMR units are Space 2000 Show Kitchens with quartz countertops and high-gloss-finish cabinet doors. Service kitchens are also built with high-end solid surface countertops with a laminate finish for an overall improved cooking experience. Furthermore, bedrooms are fashioned with Space 2000 closets that are made with a high-end laminate finish, giving homeowners stylish storage for their personal belongings.

Entrepreneur and Space 2000 Founder, Florence Ko explains, “Aside from the sleek and highly-advanced modular furniture systems, GHMR together with Space 2000, let’s you fill your home with exquisite pieces that reflect a hotel-like ambiance. Through our dedication to excellence, creativity and world-class standards, each unit is surely designed to give grand experiences every day.”

Gaggenau innovations for kitchen inspirations

Getting inspired to discover new recipes, explore more ingredients, and create gastronomical experiences would be easier through the innovative, professional-grade kitchen appliances that Gaggenau provided in the units of GHMR South Tower.

The two-bedroom units have an integrated range hood and cooktop. The show kitchens of the three-bedroom units and the three-bedroom units with den have a chimney-type range hood, cooktop, and built-in oven.

The Show Kitchen of 3 Bedroom with Den Units features Gaggenau chimney-type Rangehood, cooktop, and built-in oven, as well as a high-end refrigerator.

Elevating the promise of hotel-like luxury living, all Gaggenau products are exclusively built using genuine materials and the industry’s leading technology. Aside from its sleek style and uncompromised durability, Gaggenau integrates an intuitive interface that allows residents to cook with greater accuracy, thus resulting in the very efficient use of energy.

“We sincerely believe that both Gaggenau and Grand Hyatt Manila Residences are globally renowned brands that are known for their quality of product and aesthetics. Both characteristics are also evident in Gaggenau products. We just don’t look good on the outside using authentic materials but also create great functionality when residents use the appliances,” says Ferdinand Ong, Founder of Living Innovations.

Outstanding finishings

The floorings of GHMR South Tower further establish the unique ambiance of the place. Made of polished natural stone from Turkey colored in cream or beige, such floors cover the Living-Dining-Hallway-Show Kitchen floor area in two-bedroom and three-bedroom units. Meanwhile, in those areas of the three-bedroom units with den, the floorings are polished white natural stone coming from Greece.

Every bedroom has closets with high-end laminate finish.

Leading global brands like GROHE, TOTO, and Kohler are also incorporated to provide quality toilet and bath fixtures in each unit. Boasting a luxurious shower experience, all units come with GROHE telephone shower fixtures. Setting apart the master toilet & bath in three-bedroom units in the mid zone, including those with dens, its toilet and bath space include rain shower features and a Kohler acrylic bathtub. For the three bedroom units with den in the high zone, they come with a free-standing TOTO bathtub.

Lavatories in the two-bedroom and three-bedroom units come with Kohler and GROHE fixtures; while the three-bedroom units with den at the high zone are fitted with GROHE lavatories that come with easy-to-clean and antibacterial features. All units also incorporate GROHE toilet accessories in metal chrome finish.

Master and common bathrooms in all units come with TOTO water closets with the brand’s signature CeFIONtect glaze, to keep the water closets cleaner for a longer time, and a high-performing flushing system. The Master toilet and bath also come with a TOTO washlet seat that provides comfortable rear, front and oscillating cleansing functions, heated seat with temperature control, and energy-saving function. Meanwhile, the common toilet and bathrooms have Ecowasher seats that include rear and front cleansing functions, with a soft closing seat and cover.

Home of grand, unique experiences

Besides the global brands that helped design the residential units, GHMR South Tower offers more unique experiences from home to uphold its “living grand” philosophy for its residents.

Just as the spaces are designed with elegance, GHMR South Tower is also architectured with a wraparound glass façade. It houses 188 residential units of two-bedroom and three-bedroom configurations complemented with high ceilings, expansive windows, and private balconies to have a panoramic view of the city.

Beyond GHMR South Tower, homeowners can easily access the adjacent Grand Hyatt Manila hotel. Another exclusive benefit is the grant of the highly-coveted, two-year Globalist membership. The highest level in the World of Hyatt loyalty program, it gives privileges with Hyatt hotels and resorts around the world.

Come home to a grand, hotel-like place every day at the Grand Hyatt Manila Residences South Tower. For inquiries and to know more about Grand Hyatt Manila Residences South Tower, email invest@federalland.ph or visit this website.

Contact (02) 8551-1212 to schedule a private viewing at the showroom of Grand Hyatt Manila Residences South Tower, located at 8th Ave. cor. 35th St., Grand Central Park, Bonifacio Global City.

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Attractive real estate deals boost September online housing fair success

October 15, 2021 | 10:00 am

The biggest real estate promos made Lamudi’s second online housing fair a success, marking another milestone for the company

The second online housing fair by Lamudi, which ran from Aug. 31 to Sept. 24, saw significant success backed by the attractive real estate discounts from the biggest developers in the country. Lamudi’s property fair featured exclusive promos, discounts, and low monthly amortization. Some real estate developers also offered gift certificates and free home appliances.

Lamudi CEO Kenneth Stern expressed gratitude for the developers that participated in the event, namely RLC Residences, AboitizLand, SOC Land, Futura by Filinvest, Aspire by Filinvest, Golden Topper, Taft Properties, PA Properties Hankyu Hanshin, Priland, Lumina Homes, Solar Resources, Worldwide Central, Damosa Land, The Hauslands, and brokerage firm PropertyPRO.

Similarly, Mr. Stern thanked the organizations and personalities that shared their expertise on different matters related to property buying and design. These include the official partners KONE, Nook, AIDE, and BDO, as well as event partners Happy Helpers, Clean All PH, Feng Shui Consultant Sofia Relosa, Zassy Green, Pag-IBIG, and Great Eastern Termite (GET) and Pest Control.

Lamudi was also backed by media partners The Manila Times, BusinessWorld, Business Mirror, Malaya Business Insight, Sunstar, Mindanao Times, Sunstar Cebu, MediaBlast Digital, Real Estate Blog PH, and Manila Standard for the success of the second Online Housing Fair.

Property fair highlights

Properties located in key metropolitan areas such as Metro Manila, Metro Cebu, and Metro Davao were featured at the fair, as well as developments in urban areas near the capital region. Property seekers heavily considered the special deals on vertical developments, a reflection of the emerging trend of people looking for residences or rental properties near central business districts at the backdrop of the nearing return to the office.

Property seekers aged 25 to 34 were the most active property seekers in the property fair. With a growing career and family, this market segment holds excellent buying power and considers property investment more seriously to create a stable future for loved ones.

Value of webinars

The webinars featured in the housing fair also captured thousands of property seekers. Property previews recorded a sizable number of views, a reflection of the strong interest in knowing more about the developments featured in the fair. The talks on financing options attracted a huge audience as well, pointing to the market’s proactive attitude of managing the property buying budget.

In the same way, a lot of the fair participants tuned in to the webinars tackling investing in real estate amid the pandemic. As the global health crisis still looms, property seekers tune in to webinars for expert advice on the security and stability of future investments.

In line with property seekers’ needs during this time, the webinars on property technology recorded a significant number of views. Proptech introduces new platforms that help property seekers cope with movement limitations amid the pandemic.

Up next: bigger, better housing fair in 2022

Given the success of Lamudi’s two online housing fairs this year, the real estate platform takes the digital property buying and selling journey up a notch for its next online housing fair in 2022. Partnering with trusted property developers in the country and addressing pressing real estate questions through its informative webinars, Lamudi will stay true to its mission of helping property seekers find their dream home online.

In a time of uncertainty, Lamudi offers added value in the homeownership journey through attractive real estate deals, taking property seekers closer to realizing their property goals. Different lifestyle brands and personalities from home-related industries will also be gracing the online event.

For more information on the next online housing fair, visit Lamudi’s official Facebook page.

For media partnership inquiries, contact kristine.quilon@lamudi.com.ph.

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Pepper’s Philippine office (PSO Manila) joins the Circle of Excellence at the prestigious Asia CEO Awards 2021

October 15, 2021 | 9:41 am

The shared service facility operates on behalf of the Australian and New Zealand consumer and commercial lending operation Pepper Money and other third-party services and employs over 350 Filipino employees locally.

PSO Manila offer a wide range of managed business outsourcing and offshoring services from originations lifecycle, including provision of post settlement support to customers via frontline contact centre and back-office servicing activities through to HR support, that greatly reduce costs without exposing risk.

Head of Operations, Shakira Snowdon, said she was honored by the recognition of their high performing team and their continued success: “We’re honored and delighted to be recognized as a finalist for SME Company of the Year 2021. This achievement recognizes our team, their values, and their commitment to driving a great culture, involvement in social and giving programs, and our continued business growth and excellence by always putting our people, our customers and partners at the heart of what we do.”

Culture

According to Ms Snowdon, PSO Manila has a culture that sets it apart in the marketplace: “We drive a high-performance culture throughout our business with strong governance, people, and process management practices.”

To support this, “We strongly support and live the diversity and inclusion principles and recognize the value of attracting and retaining employees with different ideas, abilities, and backgrounds to achieve our core competencies.”

With the creation of the Diversity and Inclusion Committee within the business, different sub-groups were established to focus on the ongoing empowerment and training of staff.

These sessions alongside other engagement programs led to a positive culture that far exceeds industry standards and benchmarks for employee retention, with a 99.4% retention rate as of September 2021. PSO Manila’s 2021 engagement survey shows engagement is at 87% and is in the 99th percentile for Culture of Engagement, 97th percentile for Strategic Alignment, 97th for Manager Execution, and 96th for Manager Motivating and Relating.

High engagement has its advantages according to Ms Snowdon, “We know our highly engaged team translates to less recruitment fees, reduced percentage of agents in training, and higher quality and more efficient outputs.”

Social Commitment

PSO Manila invests in activities and initiatives that demonstrate a genuine interest to improve the lives and conditions of people within and outside the organization.

“This year marks the beginning of our Pepper Giving program. It brings to life PSO Manila’s community and charitable initiatives in the Philippines. The program is run by passionate volunteer employees,” says Ms Snowdon.

The committee is governed by the Global Pepper Giving policy framework that ensures clear direction for Pepper’s charitable and community ventures. The committee has three main principles that govern all decisions and initiatives. First, to support organizations that work to provide the social necessities of life including housing and shelter, transport, education, and a means of earning a living. Secondly, Pepper will work with organizations that are seeking a different pathway to help others who are underserved by traditional support structures. And lastly, support is provided to inspire innovation and courage amongst those in need to find different pathways to achieve their goals, explains Ms Snowdon.

Business performance and growth

Despite the ongoing uncertainty of the economic impacts of COVID-19, PSO Manila has continued to drive growth across all areas, finding new opportunities to build on the foundations of success and delivering a broad range of shared services.

“We don’t just aim to meet Service Level Agreements, for us it’s about exceeding those expectations. We educate our agents, so they understand the role that the tasks they complete have in the end-to-end process. This includes customer impact and awareness of dependencies on and outcomes of the tasks they undertake,” she says.

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SEC: Sustainability Champion

October 15, 2021 | 9:17 am

The Securities and Exchange Commission (SEC) is the Philippines’ national government regulatory agency mandated to supervise and enable the country’s corporate sector and capital market.

As such, the SEC Philippines is at the forefront of promoting good governance toward the competitiveness and sustainability of the business sector, the broad participation and effective protection of the investing public, and the overall development of one of Asia’s fastest growing economies.

The SEC Philippines currently supervises more than 600,000 active corporations and other forms associations across the country. As the corporate sector continues to expand, and given the evolving nature of transactions where the corporate vehicle is being used to defraud the investing public, and the ever dynamic character of the capital market, the SEC Philippines must progressively perform its critical role as the prudent registrar and supervisor of the corporate sector and the independent guardian of the capital market.

To advance corporate governance reforms, the SEC Philippines pushes for the adoption of corporate governance codes, sustainability reporting guidelines, and such other rules. In parallel, it conducts forums and dialogues with stakeholders to discuss the most pressing and prevalent corporate governance issues within and outside the country.

The SEC Philippines also implements secure and efficient company registration and monitoring systems, and spearheads the country’s Protecting Minority Investors Task Force to ensure ease of doing business, as well as transparency and accountability among corporations.

Moreover, the SEC Philippines actively participates in global development initiatives as a member of the International Organization of Securities Commissions, ASEAN Capital Markets Forum (ACMF), the Global Financial Innovation Network, and the International Forum of Independent Audit Regulators, among others. At present, it acts as the chairperson and secretariat of the ACMF Working Group-D on the ASEAN Corporate Governance Scorecard initiative.

The SEC Philippines is recognized both locally and globally for its sustainability and good governance efforts.

This October, the SEC Philippines was hailed as one of the Circle of Excellence Awardees for the Best Sustainability Company of the Year in the 12^th Asia CEO Awards.

The 12th Asia CEO Awards promotes the Philippines as a premier business destination for global enterprises by awarding companies and executives in the country who have excelled in various sectors. With the theme “Recover, Reset, Reignite”, it once again accorded prestigious recognitions to various players in the industry, with esteemed judges from different industries and the government sector.

For its efforts on good governance, the SEC Philippines received the 3G Advocacy and Commitment to Corporate Governance Award from London-based organization Cambridge IFA.

The 3G Awards are part of a premier recognition program that highlights excellence in good governance and commitment to social welfare in 3 major streams: Government & Politics, Corporate Sector, and Social Sector & Philanthropy. The Commission received the award in an Online Awards Ceremony on May 25, 2021 .

In 2019, the SEC Philippines was also the recipient of the ISAR Honours Award for the Philippines from the United Nations Conference on Trade and Development in Geneva, Switzerland. The ISAR, or the International Standards of Accounting and Reporting, recognized the Commission’s adoption of the Sustainability Reporting Guidelines, which created awareness among companies on the business case for sustainability reporting in the Philippines.

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Charting a low-carbon future

October 15, 2021 | 8:30 am

San Miguel Corporation (SMC) power unit SMC Global Power Holdings Corp.’s Battery Energy Storage Systems (BESS) technologies will stabilize power supply nationwide; it also ushers the next stage for renewable power in the country

Even as power companies work to avert a looming power crisis in the Philippines, reliable power remains a challenge even for provinces that already have access to electricity. Over the decades, the imbalance in power supply has contributed to the uneven spread of investments and development between our regions. Many provinces lag behind due to unstable power supply. More importantly, many Filipinos still live without the benefit of sufficient power everyday.

Very soon, all this will change with SMC Global Power Holdings Corp.’s (SMCGP) completion by 2021 to 2022, of 31 new Battery Energy Storage System (BESS) facilities nationwide, with a total target capacity of 1,000 megawatts. This project represents the company’s most significant contribution yet to supporting a low-carbon future.

SMCGP’s BESS technology will support the country’s fragile power grid by removing excess power and injecting required power at strategic areas within the grid within milliseconds—ensuring power quality is maintained and reaches users all over the country.

This means faraway provinces and islands can have the same stable and good quality supply of power and equal opportunities for economic growth.

But equally significant is how this pioneering foray into BESS technology will pave the way for the integration of renewable power — generated from intermittent sources such as solar and wind — into the grid. With this, renewable power becomes a more viable option as a power source for the country.

In the next couple of years, SMCGP estimates the integration of up to 3000 MW of renewable power into the grid, due largely to its BESS facilities.

With its thrust now of focusing its capacity expansion on renewable sources such as solar and hydroelectric power, as well as cleaner alternatives to coal such as liquified natural gas, the next decade will see SMCGP continuing to adapt and innovate to meet the needs of our country, and the world.

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12^th Asia CEO Awards honors top business leaders, frontliners amid pandemic

October 15, 2021 | 8:00 am

Leaders and businesses that remained on top despite the challenges brought by the coronavirus disease 2019 (COVID-19) pandemic were recognized at the 12th Asia CEO Awards, which is themed “Recover, Reset, and Reignite.”

Held annually since 2010, the Asia CEO Awards seeks to highlight leadership accomplishments that contribute to building the nation.

This year, notably, the Awards received its highest number of nominations, with 514 leaders and organizations coveting to be among the Circle of Excellence awardees and eventually become the grand winners.

Evaluating these leaders and businesses were the board of judges, comprising of Dr. Bernie Villegas, a distinguished economist, author, and professor in the Philippines; Don Felbaum, former president of America Chamber of Commerce; Oscar Sañez, CEO of Business Process Association of the Philippines; Atty. Darlene Berberabe, former CEO of Pag-IBIG Fund; Arch. Jun Palafox, Jr., principal architect of Palafox Associates; and Richard Mills, chairman of Asia CEO Awards.

DepEd Secretary Leonor Briones, recipient of the Lifetime Contributor Award for the public sector

This year, the Lifetime Contributor Award for the public sector went to the Department of Education Secretary Leonor Briones for being adamant that the development of the nation’s young people must continue.

Sec. Briones spent much of her career in the education sector. She was previously the Chair of the Board of Trustees of Siliman University and the Regent of the Universidad de Manila. Before her current post, she was the secretary of the Commission of Audit and served as the Treasurer of the Philippines. She also became the Lead Convenor of Social Watch Philippines.

“Very pleased that more and more public and private sector executive leaderships are getting together,” Ms. Briones expressed. “We used to think of each other separately because we thought we have different goals. Now, we see a confluence and convergence in meeting our common goals, especially at this time of the pandemic.”

San Miguel Corp. President & CEO Ramon Ang delivers the keynote during the ceremony.

Last year, San Miguel Corporation President and CEO Ramon S. Ang received a recognition from Asia CEO Awards as a Lifetime Contributor for the private sector. He delivered a keynote during this year’s awarding ceremony.

Exceptional leaders
The awards, held on Oct. 12, recognized numerous leaders, including young executives, women leaders, and expatriate executives.

Paolo S. Bugayong, the president and CEO of APPPPS Partners, Inc., is the grand winner of the Entrepreneur of the Year. Among the nominees for this award were Isagani G. Buenaflor, chairman of Diamond Rent a Car; Janice Arino, CEO of Service Economy Application Inc.; Josef Werker, CEO & co-founder of Humble and managing director of Penbrother; Laurice A. Chiongbian, president and CEO of Qavalo, Inc.; Jonathan So, VP and CEO of JC/Toktok; Dr. Carl E. Balita, president and CEO of Carl Balita Review Center; Felix Veroya, founder and CEO of Ask Lex PH Academy; and Jean Henri Lhuillier, president and CEO of PJ Lhuillier, Inc.

Josef Werker is the recipient of the grand award for the Young Leader of the Year. The other young leaders nominated for this award were Joshua I.L. Palisoc, COO of Ask Lex; Rodolfo Medina Jr, CEO and President of Medical Depot Young Leader; Atty. Jose Martin A. Loon, President and CEO of Cocolife; Angelo Tan Country Lead of International Finance Corp.; Dann Angelo de Guzman, founder and CEO of Cloudswyft Global; Avin C. Ong, CEO of Fredley Group; Jettson Yu, managing director of Prime Philippines; and Irymarc “Tryke” Gutierrez, CEO and co-founder of Tier One Entertainment.

Ana Patricia Non, the woman who started that Maginhawa Community Pantry, received the Young SHERO of the Year grand award. Other women leader awardees were Maureen Nova Ledesma, co-founder & CMO of Vesl Pte Ltd.; Nina Opida, co-founder & COO of Humble Sustainability; Joy Anya T. Lim, co-founder and creative director of Anthill Fabric Gallery; Malou Perez, Founder of Pawssion Project; Charlene Vee Tan, CEO of All Vision Business; Therese Clarence Fernandez-Ruiz, president and founding partner – of Rag2 Riches; Cecilia Therese Guiao, co-founder of Para Bukas; Karen Jane Salutan, CEO and founder of Pinoy Indie Films Road Show; Jenica Dizon, country director of Waves For Water Philippines; and Ray Alyannah Ysabel L. Lagasca, National Chairperson of Youth for Mental Health.

Myla Villanueva, chairman of MDI Novare Technologies, is the grand winner of the Global Filipino Executive of the Year. Among the business leaders who were included for such honor were Ronald Mascariñas, president of Bounty Agro; Lourdes Josephine Gotianun Yap, president and CEO of Filinvest Land and Filinvest Development Corporation; Gil G. Chua, group chairman and CEO of DDB Group; Valerie R. Badilla, CEO of Learn Group; Rosemarie Rafael, chairwoman and president of Airspeed Group of Companies; Antonio G. de Rosas, president and CEO of Prulife UK.

Michael McCullough, the chief executive officer of KMC Solutions, is the grand winner for the Expatriate Executive of the Year. The other nominees for this award were Raghu Krishnan, president and managing director of Johnson & Johnson Phils.; David Minol CEO of Home Credit; Jared Morrison, COO of VXI Global; Amit Jagga, SVP and Country Leader of Concentrix; John Nicholls Site Lead of Paypal; and Aseem Roy, Country Head of WIPRO.

The 12th Asia CEO Awards also recognized the extraordinary efforts of healthcare workers, particularly acknowledging the Philippine Medical Association and the Philippine Nurses Association for their “dedications and sacrifices in the battle against the COVID-19 pandemic” and being “part of Filipino heroes and heroines.”

Richard Mills, chairman of Asia CEO Awards, delivers a short message during the ceremony.

Leading companies
Organizations across industries and sectors were also recognized for their respective feats, be it in terms of corporate social responsibility, sustainability, or innovation, to name a few.

Magsaysay People Resources Corporation received the CSR Company of the Year grand distinction. Alaska Milk Corporation, Allianz PNB Life Insurance, Datamatics CMS Philippines, Home Credit, HSBC Philippines, Lexmark Research and Development Corporation, Reed Elsevier Shared Services (Philippines), Telstra International Philippines, and TELUS International Philippines were among the nominees for the CSR Company of the Year.

The Most Innovative Company of the Year went to Megawide Construction Corporation, topping Bountry Agro Ventures, CIMB Bank Philippines, Green Antz Builders, Land Bank of the Philippines, Lexmark Research and Development Corporation, and PayMaya Philippines.

Converge ICT Solutions, a major connectivity provider in the country, was awarded as the Technology Company of the Year. Cloudswyft Global Systems, DynaQuest Technology Services, FinScore, Microsoft Philippines, Multisys Technologies Corporation, PayMaya Philippines, and PCCW Solutions Philippines were also nominated for this award.

The Sustainability Company of the Year acknowledged Mondelez Philippines as its grand winner. Booth & Partners Philippines, Filinvest REIT Corporation, Land Bank of the Philippines, Mother Earth Foundation, NEO, and Philippine Securities and Exchange Commission were also among the nominees in this award.

The Wellness Company of the Year recognition went to Western Union, besting Qavalo, Inc., Sitel Philippines, PayPal Philippines, Genpact Services LLC – Philippine Branch, Johnson & Johnson Philippines/Johnson & Johnson Global Services, Quantrics Enterprises, Inc., and VXI Global Holding B.V.

The Service Excellence Company of the Year was bestowed to AC Health. The rest of the nominees were CGI Philippines, Inc., Magsaysay Shipping and Logistics, Concentrix Philippines, VXI Global Holdings B.V., HC Consumer Finance Philippines Inc. (HOME CREDIT), Wipro Philippines Inc., and Teletech.

Qavalo is honored as the SME Company of the Year. Pepper Money/PSO (Manila), MEGI Group, Victory Group of Companies, Morination Agricultural Products, Ask Lex PH Academy, and Fredley Group of Companies were also nominated for this recognition.

IBM won the Diversity Company of the Year over Metropolitan Bank, Mondelez Philippines, DMCI Holdings, Inc., Telstra International Philippines Inc., Western Union Services Philippines, Inc., and Bounty Agro Ventures, Inc.

The Top Employer of the Year is granted to San Miguel Corporation, winning over Real Estate – Fernando Zobel de Ayala, Datamatics CMS – Philippines, ING Business Shared Services B.V. Branch Office (IBSS Manila); Bountry Agro Ventures Inc., Wipro Philippines Inc., Manulife Business Processing Services, and Megaworld Corporation.

GT Capital Holdings, Inc. won the Executive Leadership Team of the Year. It has allocated P1.3 billion for various efforts to combat the COVID-19 pandemic, protect health workers and frontliners, build laboratories to process tests, and support several public hospitals and health research institutions. — Chelsey Keith P. Ignacio

Focus on the moment with vivo Y33s now available in stores

October 15, 2021 | 8:00 am

The newest entrant to the Y series allows users to flaunt their style day or night

Taking better, higher quality photos is now within reach as vivo Y33s lands in stores nationwide. Visit https://www.vivoglobal.ph/ for more details on vivo’s latest smartphone.

Taking mobile photography to the next level

Boasting a massive 50MP main camera that features the latest EIS technology that allows for more stable images and videos coupled with a 16MP front camera, users can easily focus on the moment and capture the moments that matter most.

The main camera’s JN1SQ03 image sensor boasts 50 million physical pixel points and outputs that redefines high-definition photography and lets you capture life’s best moments effortlessly by getting pristine clarity when you zoom in or crop.

No matter whether its high noon or in the middle of the night, the newest entrant to the beloved Y series can take sensational portraits no matter the setting with its Super Night Selfie technology that provides noise reduction and Smart Screen Flash to light up your face against a background that’s rich in detail for clear and natural results.

Together with its multi-style portrait technology, the front camera offers a selection of styles to suit every mood or outfit, while Face Beauty and bokeh helps users achieve a glamorous yet natural look.

Save precious memories in video format with the EIS Ultra Stable Video feature that stabilizes videos even those taken during high-octane activities and level up your editing skills with Face Beauty for Videos that turn raw footage into beautiful reels that clearly capture the highlights of your life.

Work smarter, play harder

Whatever your passion, vivo Y33s is the perfect partner with its 128GB ROM and 8GB+4GB Extended RAM that allows you to comfortably multitask–at work, at home, and even at play.

With its Helio G80 processor, gamers can unleash their full potential and win every moment. Meanwhile, vivo’s Multi-Turbo 5.0 enhances data connection, system processor speed, and power-saving performance to a whole new level.

Never worry about overheating even during intense gaming sessions with a liquid cooling solution across five components. Its huge 5000mAh battery and 18W Flash Charge ensures that users have enough juice for whatever and wherever their day takes them.

Combining all these specs and features together brings a super value-for-money device perfect for any kind of lifestyle.

Get the new vivo Y33s and focus on the moment in vivo stores and kiosks nationwide and via the vivo Official Stores in Lazada or Shopee for P12,999. For more information about vivo’s products and services, visit www.vivoglobal.ph and follow vivo Philippines on Facebook, Twitter, and Instagram.

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House realigns P65B in 2022 budget

October 15, 2021 | 12:34 am

Congress-Sona-Duterte — PHILIPPINE STAR/ MICHAEL VARCAS

THE HOUSE of Representatives has realigned P65.5 billion of the proposed 2022 national budget to fund the procurement of coronavirus disease 2019 (COVID-19) vaccine booster shots, assistance for displaced workers and the downpayment for C-130 aircraft for the military.

Eric G. Yap, chairman of the House Committee on Appropriations, on Thursday said the amendments to House Bill (HB) No. 10153 or the General Appropriations Act of 2022 have been approved by the small committee composed of majority and minority leaders.

The committee was tasked to consolidate the proposed changes to HB 10153, after it was approved by the House on third and final reading on Sept. 30.

Mr. Yap in a statement said the House expects to transmit the final copy of the proposed P5.024-trillion spending plan to the Senate by Oct. 27. Congress resumes session on Nov. 8.

“We have appropriated additional budget to (concerned) agencies to further enable them to swiftly, efficiently, and effectively address the needs of the Filipino people,” Mr. Yap said in a statement, which did not say where the fund realignments were sourced.

According to Mr. Yap, the Health department will receive an additional P29.5 billion, including P20 billion for the procurement of COVID-19 vaccines and booster shots, P5 billion for medical assistance to indigent patients, and P4.5 billion for special risk allowance for private and public health workers.

Under the 2022 National Expenditure Program (NEP) submitted by the Budget department, the P45.4 billion for booster shots was placed under the unprogrammed fund.

Health Secretary Francisco T. Duque III last month said the department proposed P50.4 billion for the allowances of health workers, but this was slashed by the Executive department.

The House also realigned P10 billion for the Labor department’s Tulong Panghanapbuhay sa Ating Disadvantaged or Displaced Workers program which seeks to provide emergency employment for up to 30 days. The program was originally given only P21.04 billion under 2022 NEP.

The Department of Social Welfare and Development will also get P11 billion in additional funds for its crisis assistance and livelihood programs.

The Department of Transportation (DoTr) will also receive an additional P6 billion for the service contracting program for displaced public utility vehicle (PUV) drivers.

DoTr Undersecretary Giovanni Z. Lopez had previously said that P10 billion originally proposed for the program was not included in the NEP.

Four state universities in the Bangsamoro Autonomous Region in Muslim Mindanao, which were earlier unfunded, has been given P504 million for their operations.

The House also realigned P3 billion for the Department of Information and Communications Technology’s National Broadband Program.

Lawmakers also approved the allocation of P5.5 billion for the Defense department, which will be used as downpayment for five C-130 J planes.

“Our commitment remains the same: to provide the enabling mechanisms for a responsive and dynamic governance and to strengthen the capabilities of the government in addressing the effects of the pandemic,” Mr. Yap said. — Russell Louis C. Ku

PHL open to more global bond offerings

October 15, 2021 | 12:33 am

THE GOVERNMENT is open to raising more funds through global bonds as it evaluates coupon rates and exchange rate risks, the Finance chief said on Thursday.

“We are looking at a possible issuance of bonds,” Finance Secretary Carlos G. Dominguez III said in an interview with Bloomberg Television on Thursday.

He said the government would assess coupon rates, tenors, and exchange rate risks before making a decision.

“That is the most important thing now — we want to stretch our tenors further. And of course, what is the exchange rate risk?” Mr. Dominguez said.

“So far, in our case, we have a total of almost a $108 billion in reserves against our total debt of around $100 billion. So, we’re very comfortable that our foreign exchange reserves will see us through any possible challenge on the peso.”

In a Viber message to reporters, Mr. Dominguez said that “all options are open as we evaluate the alternatives against longer tenors, lower cost and less exchange rate risk.”

This year, the government raised $3 billion (P146 billion) from the sale of US dollar-denominated global bonds in a dual-tranche offering.

It also raised €2.1 billion (P122.4 billion) from a triple-tranche offering of euro-denominated bonds and ¥55 billion (P24.2 billion) from a three-year, Japanese yen-denominated Samurai bond offering.

The government last month also raised an initial $866.2 million (P43.81 billion) from its maiden offering of retail dollar bonds targeted at individual investors after a series of promotional events aimed at Filipinos working overseas.

“We were quite surprised that the uptake was actually four times more than we expected,” Mr. Dominguez said.

He said that a 60% debt-to-GDP ratio is still achievable for the country, noting that the economy could be “very robust as soon as the restrictions on mobility are lifted.”

As Metro Manila transitions to less restrictive coronavirus lockdown restrictions that would allow more business activity, Mr. Dominguez said that the government expects to meet the 4-5% gross domestic product (GDP) target.

“We still quarantine areas depending on the number of (coronavirus) cases they have so it’s very, very targeted and we expect our economy to really start opening up this quarter,” he said.

Second-quarter GDP grew by 11.8% year on year, bringing average growth to 3.7% in the first half. The Philippine economy contracted by a record 9.6% in 2020 due to long and stringent lockdowns in the capital.

The capital region will be placed under Alert Level 3 from Oct. 16 until the end of the month. — Jenina P. Ibañez

No need to increase direct advances to NG — BSP

October 15, 2021 | 12:32 am

Diokno — BANGKO SENTRAL NG PILIPINAS GOVERNOR BENJAMIN E. DIOKNO — PHILIPPINE STAR/ GEREMY PINTOLO

THERE MAY BE no need for the central bank to provide additional bridge financing for the National Government (NG) amid the further reopening of the economy, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

“The way I see it, now that we have turned a corner — I’m positive about this, the number of cases has been cut, we’re now reopening the economy — maybe there’s no more need for the P540-billion bridge financing for the Department of Finance (DoF),” he said at an online briefing.

The direct advances so far availed by the National Government are in line with the Republic Act 7653 or the New Central Bank Act, which allows the BSP to lend 20% of its average revenue to the government. This is equivalent to P540 billion.

Mr. Diokno said the 30% increase that allows the National Government to access up to P850 billion in direct advances authorized by the Congress through Republic Act 11494 or the Bayanihan to Recover as One Act has not been tapped by the DoF so far.

“So I don’t see any need for additional bridge financing other than the P540 billion which is currently being made available to the DoF,” he said.

The BSP in July granted a P540-billion short-term, no-interest loan to the National Government payable within three months. This is the fourth time it provided direct advances to the National Government since the pandemic started.

National Treasurer Rosalia V. de Leon said in a Viber message that the payment for the loan has been “extended for another three months,” similar to the previous agreements.

Asked whether the National Government has been over-relying on the central bank, Mr. Diokno said: “The short answer is no. The unprecedented nature of the shock caused by the coronavirus disease 2019 pandemic required a whole of government approach to address the crisis.”

“The BSP and the National Government’s policy actions are part of the coordinated and complimentary policy responses for both monetary and fiscal authorities to restore market confidence, mitigate the impact of debt crisis, facilitate economic recovery, and minimize the long-term scarring effects on the economy,” he added.

Mr. Diokno also noted that “heavy lifting came from fiscal authorities as policy interventions such as pro-poor spending programs, public health measures and social protection schemes are more targeted and directed.”

Legislators have been pushing for a third stimulus package worth up to P400 billion. While Bayanihan III has been approved by the House of Representatives, it is still pending at the Senate. — Luz Wendy T. Noble

Philippine rule of law remains one of Asia’s weakest

October 15, 2021 | 12:31 am

RULE OF LAW in the Philippines remains one of the weakest in East Asia and the Pacific, according to the World Justice Project Rule of Law Index 2021. — PHILIPPINE STAR/ MICHAEL VARCAS

By Bianca Angelica D. Añago, Reporter

RULE OF LAW in the Philippines remains one of the weakest in East Asia and the Pacific, as the country’s ranking slipped three spots in the World Justice Project (WJP) Rule of Law Index 2021.

The WJP Rule of Law Index, which is based on surveys of more than 138,000 household and 4,200 experts in 139 countries, showed the Philippines fell to the 102^nd spot this year.

The Philippines’ score also dropped by 2.9% in this year’s index to 0.46 on a zero to one scale. A score of one indicates the strongest adherence to the rule of law.

The score placed the Philippines at 13^th out of 15 countries in the East Asia and the Pacific region, unchanged from the previous index and ahead only of Myanmar and Cambodia.

The country slumped to 18^th out of the 35 lower-middle income countries, from 13^th last year.

“Significant trends for the Philippines included a deterioration in the factor measuring order and security,” the WJP said.

For order and security, the Philippines ranked 110^th with a score of 0.63 from 0.65, previously. The Philippines placed 120^th in the factors measuring criminal justice with a 0.31 score, and 123^rd for fundamental rights with a score of 0.39.

On the other hand, the country stood at 71^st place with a 0.50 score in the factor measuring open government, and 77^th spot with a 0.44 score for “absence of corruption.”

Topping the WJP Rule of Law Index are Denmark, Norway, and Finland, the same as last year.

On the other hand, the Congo Democratic Republic, Cambodia, and Venezuela, remained in the bottom three.

For the East Asia and the Pacific region, the top three countries in the index are New Zealand, Australia, and Japan. Japan replaced Singapore as one of the region’s top three countries last year. Singapore slid to fourth place this year.

The WJP said this year’s index showed more countries declined in overall rule of law performance for the fourth straight year.

“With negative trends in so many countries, this year’s WJP Rule of Law Index should be a wakeup call for us all. Rule of law is the very foundation of communities of justice, opportunity and peace. Reinforcing that foundation should be a top priority for the coming period of recovery from the pandemic,” WJP Co-Founder and CEO Bill Neukom was quoted as saying in the statement.

The Philippine’s overall position in the WSJ Rule of Law index has steadily declined since 2015 when it ranked 51^st, dropping to 70^th in 2016. It ranked 88^th in 2017 and 2018, and 89^th in 2019.

Asked to comment on the country’s drop in ranking, Justice Secretary Menardo I. Guevarra said in a mobile message that the general crime rate “has been on a downtrend, and that our law enforcement, prosecutorial, and judicial institutions, while not perfect like all other human institutions, are nevertheless functioning as they should.”

In a mobile message, University of Santo Tomas Political Science Professor Marlon M. Villarin said the decline in the Rule of Law Index is likely to continue “until the government would be able to resolve…all issues pertaining to abuses committed by government agents on the implementation of (President Rodrigo R.) Duterte’s war on drugs.”

A 2020 report by the United Nations Office of the High Commissioner for Human Rights estimated that there have been more than 8,000 deaths related to the drug war since it started in July 2016.

Last month, the International Criminal Court announced that it will open a full investigation into the Philippines’ war on drugs and the alleged Davao Death Squad.

University of the Philippines Political Science Professor Maria Ela L. Atienza added that illegal drugs remain a problem in the country, hence there is a “continuing dominance of (Mr. Duterte) and the Executive branch vis-a-vis the legislature and the judiciary instead of the checks and balances principle being observed, continuing cases of graft and corruption, and threats to freedom of speech, assembly and the press.”

National Union of Peoples Lawyers President Edre U. Olalia in a phone interview said this result is “both a wakeup call and a sad commentary on the state of rule of law in our country.”

“The fact that the Philippines, in the index, failed in fundamental rights and criminal justice system means that there is something terribly wrong, (and) this does not give any comfort in the public’s confidence in the justice system,” he added.

IKEA franchisee reports 3.3% revenue growth to P42 billion

October 15, 2021 | 12:09 am

SWEDISH furniture maker IKEA’s franchisee in Southeast Asia and in Mexico reported a 3.3% turnover growth in its financial year ending August 2021 to generate P42.1 billion, driven by the new stores in Singapore and Mexico.

Ikano Retail is one of the 12 IKEA franchisees, which operates in Malaysia, Singapore, Thailand, and Mexico through 11 IKEA stores and five IKEA-anchored shopping centers.

It is also the firm behind the world’s largest IKEA store, IKEA Pasay City, which will launch soon in the Philippines.

“We lost 17% of our trading days, faced the worst supply challenges in our history and contended with limits on food operations and further restrictions,” Ikano Retail Chief Executive Officer Christian Rojkjaer said in a statement on Thursday.

However, Mr. Rojkjaer said e-commerce sales in Ikano’s markets grew by 57% to P7.7 billion.

For its financial year covering September 2020 to end-August 2021, visits to the IKEA websites by those within Ikano’s markets totaled 113 million. Of which, about a million are traced back to the Philippines.

Some 864,000 online orders were placed in Ikano’s current four markets, which is 64% higher year on year.

In Southeast Asia, Ikano said it also relaunched IKEA for Business and new IKEA Planning Studios were opened in Thailand and Singapore.

Ikano Centres, which are said to be meeting places, in Malaysia and Thailand also secured a healthy lease rate of 92%.

“We made sure that our centers continue to be meeting places for the many, offering a safe and fun day out as our economies open up and learn to live with COVID-19 (coronavirus disease 2019),” said Mr. Rojkjaer.

Ikano’s turnover in Malaysia declined by 13.9% year on year to P14.8 billion. Malaysia is home to four IKEA stores, IKEA Damansara, IKEA Cheras, IKEA Tebrau, and IKEA Batu Kawan.

Meanwhile, Singapore saw a 21% growth in revenues to P13.4 billion. It has three IKEA branches, including the newly opened small-format IKEA Jurong, IKEA Tampines, and IKEA Alexandra.

Thailand is home to three IKEA stores, namely: IKEA Bangna, IKEA Bang Yai, and IKEA Phuket. Turnover in the country for the fiscal year inched down by 3.3% to P12.1 billion.

Ikano opened its first store in Mexico City, IKEA Oceania, which accounted for P1.8 billion. It is the first in Latin America and recorded 15 million visits both in IKEA Oceania store and its website.

Ikano reported that 2.9 million are members of the IKEA Family loyalty club, of which 206,000 are from the Philippines. — Keren Concepcion G. Valmonte