STOCKS closed the week higher to track Wall Street’s gains after US jobless claims dropped.
The benchmark Philippine Stock Exchange index (PSEi) gained 62.47 points or 0.91% to close at 6,897.13 on Friday, while the broader all shares index went up by 29.58 points or 0.69% to finish at 4,261.69.
“The bourse ended higher as the positive performance in the US markets spilled over to our local index, amid the latest reports that the US jobless claims fell last week,” Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a Viber message on Friday.
“Locally, investors continue to feel optimistic while assessing how the government will approach the quarantine restrictions to be implemented in the country,” he added.
“The PSEi inched higher on signs that the surge in COVID-19 (coronavirus disease 2019) cases were peaking. Sentiment also got a boost from US stocks, which finished in the green following the encouraging report that the US weekly jobless claims hit the lowest since the pandemic began,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a separate Viber message.
The S&P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain, as higher commodity prices helped energy names recover ground and the latest jobs data left investors unfazed about existing positions, Reuters reported.
The Dow Jones Industrial Average rose 131.29 points or 0.37% to 35,443.82; the S&P 500 gained 12.86 points or 0.28% to 4,536.95; and the Nasdaq Composite added 21.80 points or 0.14% to 15,331.18.
Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, although the focus will be on the US Labor Department’s monthly jobs report on Friday to set the stage for the Federal Reserve’s policy meeting later this month.
Back home, most sectoral indices climbed except for services, which declined by 11.31 points or 0.63% to end at 1,768.72, and mining and oil, which lost 4.88 points or 0.05% to 9,486.22.
Meanwhile, holding firms climbed 156.19 points or 2.29% to 6,974.89; financials went up by 8.94 points or 0.62% to 1,450.61; industrials increased by 62.28 points or 0.61% to 10,137.96; and property rose by 7.84 points or 0.25% to close at 3,075.91.
Value turnover went down to P6.45 billion with 1.58 billion shares switching hands on Friday, from the P6.92 billion with 1.52 billion issues traded the previous day.
Advancers narrowly beat decliners, 104 against 102, while 39 names closed unchanged.
Foreigners turned buyers anew with P242.74 million in net purchases on Friday, a turnaround from the P69.83 million in net outflows seen on Thursday.
Timson Securities’ Mr. Pangan said: “6,980 seems to be the nearest resistance area for the index, while 6,780 may be considered the closest support level to watch next week.” — K.C.G. Valmonte with Reuters
WASHINGTON – The Biden administration has no plans to release billions in Afghan gold, investments and foreign currency reserves parked in the United States that it froze after the Taliban’s takeover, despite pressure from humanitarian groups and others who say the cost may be the collapse of Afghanistan’s economy.
Any unfreezing of these assets may be months away, financial experts said.
Officials from the U.S. State Department, U.S. Treasury, White House National Security Council and other agencies have been in regular discussions about Afghanistan’s finances since the Taliban took over in mid-August, ahead of what the United Nations and others see as a looming humanitarian crisis.
Any decision to release the funds would likely involve top U.S. officials from several departments but will ultimately be up to President Joe Biden, the experts said.
Food and fuel prices are soaring across Afghanistan, amid a shortage of cash triggered by a halt in foreign aid, a halt in dollar shipments and a drought.
The Treasury Department is not easing sanctions on the Taliban or loosening restrictions on their access to the global financial system, a spokesperson told Reuters.
“The United States government has been in touch with humanitarian partners in Afghanistan, both regarding security conditions on the ground and about their ability to continue their humanitarian work,” the spokesperson said.
“As we maintain our commitment to the Afghan people, we have not reduced sanctions pressure on Taliban leaders or the significant restrictions on their access to the international financial system.”
Shah Mehrabi, an economics professor in Maryland and long-time member of the Afghan central bank’s board, a senior Russian official and humanitarian groups are among those urging the U.S. Treasury to also unfreeze the Afghan assets, saying that lives are at stake.
“The gravity of the situation is so immense. Every day that passes is going to result in more suffering and more exodus of people,” Mr. Mehrabi said.
The International Monetary Fund has also blocked the Taliban from accessing some $440 million in new emergency reserves, or Special Drawing Rights, issued by the global lender last month.
Adnan Mazarei, former deputy director of the IMF and now a fellow at the Peterson Institute for International Economics, said the United States could not legally release the Afghan assets until there was an internationally recognized government, and that could take many months to occur. The IMF could not act until its board voted, once a government was recognized.
He said a central bank’s reserves are typically not touched except as a last resort. Even Iran, struggling under intense international sanctions, has not used its IMF emergency reserves, he said.
Brian O’Toole, a former Treasury Department official now with the Atlantic Council, said a release of the Afghan assets would not solve Afghanistan’s considerable problems.
“Just releasing those funds doesn’t stabilize the Afghan economy, or do anything like that. What it does is give the Taliban access” to billions of dollars, he said. “I don’t think there’s gonna be a lot of appetite in the U.S. to do that, nor should there be.” – Reuters
SAN FRANCISCO – A U.S. national labor agency is investigating two charges against tech giant Apple Inc filed by employees, records on its website show, amid a wave of worker activism at a company known for its secretive culture.
The charges, filed on Aug. 26 and Sept. 1, are being reviewed by the U.S. National Labor Relations Board’s office in Oakland, California. The agency declined to comment.
“We take all concerns seriously and we thoroughly investigate whenever a concern is raised,” Apple, which is based in Cupertino, California, said in a statement that cited employee privacy in declining to discuss specifics.
Ashley Gjovik, a senior engineering program manager at Apple, told Reuters that she filed the Aug. 26 charge, which cites harassment by a manager, reduction of responsibilities and increases in unfavorable work, among other complaints.
The Sept. 1 charge was filed by Cher Scarlett, an Apple software engineer who said the company repeatedly stopped discussions of pay among employees.
The documents she sent the agency, which she provided to Reuters, say Apple “engaged in coercive and suppressive activity that has enabled abuse and harassment of organizers of protected concerted activity.”
The labor relations agency investigates all charges it receives, and launches a prosecution against the employer if merited.
Workers in Silicon Valley, and especially those of Apple, are known to avoid publicity, reflecting companies’ desire to keep new products tightly under wraps.
In recent weeks, some current and former Apple workers have critiqued company culture on Twitter, using the hashtag #AppleToo. U.S. law allows employees to openly discuss certain topics, such as working conditions.
In addition, workers have engaged in a heated debate on the messaging platform Slack about Apple‘s move to scan U.S. customer phones and computers for child sex abuse images, Reuters reported https://www.reuters.com/technology/exclusive-apples-child-protection-features-spark-concern-within-its-own-ranks-2021-08-12.
In a letter accompanying her NLRB charge, Scarlett wrote that Apple employees began a pay equity survey in April, but the company blocked them, citing privacy concerns.
It also halted subsequent surveys, including one that aimed to address the privacy issues, Scarlett added.
In late August, Apple denied employees’ request to create a Slack channel to discuss pay equity, which Scarlett told Reuters was “the last straw” that led her to file the complaint.
Gjovik told Reuters that after Apple started investigating her complaints, as well as accusations of sexism, her managers began re-assigning her work to colleagues and loading her up with undesirable tasks.
The company put her on paid administrative leave in early August. She said Apple had not finished its investigation.
Gjovik said she felt encouraged after seeing more employees speaking out about the company’s culture in recent weeks.
“The biggest obstacle for making progress at Apple is the culture of secrecy and alienation,” she said. – Reuters
The idea for GCash, an e-wallet with more than 38 million users, came from observing how Filipinos handled debt. “We saw people going, ‘I have no cash. How about I give you P50 worth of mobile phone credits right now and let’s call it quits?’ That’s how it [GCash] began,” said Mario Domingo, one of the e-wallet’s co-authors and founder of Neural Mechanics Inc., a boutique AI (artificial intelligence) machine learning shop that analyzes customers’ psychographic behavior.
By practicing empathy — putting on a backpack, finding your customer, and learning what they are doing — an entrepreneur will be able to tease out relationships like, say, what objects frequently appear together in a shopper’s cart.
“We learned that on Thursday afternoon — in certain municipalities and social classes — sales of Emperador Light, condoms, and ice goes through the roof,” said Mr. Domingo. “So, we bundled the items in front of the store, and they flew off the shelf.”
“Learn how they’re browsing — and not from the cookies only,” he added. “How are they interacting with your product?”
Composed of anecdotes like these, E-Hustle collates insights from 17 e-commerce leaders in the Philippines from different fields, including logistics, distribution, and payments.
“There is no map to e-commerce, no guide that says ‘you are here’ and tells you how to go the distance. But there are principles, strategies, and tactics that cut across different contexts, and the leaders here share exactly those: You can apply what they learned often through trial-and-error to your own circumstances, fast tracking your personal growth, and in extension, that of your business,” said Kyle Nate, production editor of The E-Hustle, in a statement.
FROM YOUR BEDROOM
In the early 2010s, door-to-door delivery — a service taken for granted today — was a crazy idea, said Francis Plaza, co-founder and chief executive officer (CEO) of payment gateway PayMongo. Tech, he added, democratized the playing field, allowing good ideas to flourish.
“Tech allows you to launch your idea in your bedroom. Every business is a tech company now,” he said. “Gone are the days when engineers monopolized tech. [Everyone] has something to bring to this digital shift.”
This shift, Mr. Plaza added, requires a lot of players and layers to enable the ecosystem, including AI, security, logistics, and “unsexy” facets like payments. PayMongo itself grew 40 times last year as a result of the country’s shift to digital transactions due to the pandemic.
“Payments are the least sexy thing in the value chain of internet transactions,” Mr. Plaza said. “We do this to enable more people to trust the digital world, and so you, [an entrepreneur], can do the better stuff.”
For its part, Shopee Philippines helps small businesses shift to digital through seller support packages and the Shopee University Summit, which teaches business strategy to sellers.
Small sellers can try live-selling — using video to sell their products — to boost sales, according to Shopee director Martin Yu.
BigCurvesPH, which sells branded overruns and has a five-star rating, regularly livestreams its latest offerings on Shopee.
For Kim Y. Lato, CEO of Kimstore, the Philippines’s first online gadget store, selecting the right business partners was instrumental.
“Don’t be too caught up with pricing,” Ms. Lato said. “Ask, do they offer good customer service? Are their technology solutions still at par with future trends?”
As with the other book contributors, she acknowledged the usefulness of tech while highlighting the importance of having a customer-centric culture.
“I knew the names, birthdays, and purchases of my first 500 customers,” said Ms. Lato, who started selling online in 2006 at the now-defunct social networking site Multiply. “At the end of the day, tech is just tech. It’s what you provide to customers that matters.” — Patricia B. Mirasol
Realty entrepreneur, college teacher, Kamuning Bakery Café owner, and “Philippine STAR” columnist Wilson Lee Flores is invited guest speaker on September 6 Monday 7 pm at Zoom conference of the Pru Life UK’s Alexandrite 2 district, which has 9,000 financial advisors, and 25 branch managers. Pru Life UK’s Alexandrite 2 is the leading financial services agency in terms of manpower and the highest new business annual premium equivalent of P2 billion per year. It is led by district manager Jonash Go and its training head is also financial advisor Trixie Villaroman Dacanay. Author of five books, winner of a record 15 Catholic Mass Media Awards (CMMA), three CMMA Hall of Fame Awards, and three Palanca literary awards, Flores will speak on “Success & crisis survival lessons from the Philippines’ best tycoons”. The other speaker is Pru Life UK Vice-President for Investment Marketing Mark Anthony Valino.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Software company Spring Valley Tech Corporation (SVTC) and Globe’s business arm have partnered to foster an ecosystem of tech startups, according to Jonathan D. de Luzuriaga, SVTC co-founder and chief executive officer, and Globe Business’s new ambassador.
“We basically are trying to replicate Silicon Valley of the United States here in the Philippines. This is such an ambitious goal that requires a very supportive and ambitious partner,” he said, in a media roundtable in September.
The company’s technology hub, headquartered in a 20-hectare township in Bago City, Negros Occidental, has an academy, an advanced research and technology center, and an incubation and training center. Globe will provide infrastructure that will improve connectivity for business facilities and for people who are learning from home.
Previously, the telco provided Application Programming Interface (API) technology for a month-long coding competition that attracted 50 ICT (information and communications technology) startups.
Mr. de Luzuriaga said these types of activities help increase the Philippines’ global competitiveness: “The first aspect is talent development — you can’t imagine the amount of digital talent that’s required right now. We [SVTC] grew by 300% in headcount since the start of 2021 … Because of our learners’ lack of mobility, it’s important we provide them with digital solutions so they can fulfill what’s being required of them at their respective universities and colleges.”
“Companies going online are now very eager for the online transition,” added Mr. De Luzuriaga. “This is a golden opportunity for the industry to partake in what Globe has to offer.” — Brontë H. Lacsamana
The COVID-19 pandemic underscores that indeed health is wealth. For micro, small and medium enterprises (MSMEs), the public health crisis highlights the need to invest in the health and well-being of employees who stand as their most valuable assets. Entrepreneurs need to ensure that their employees are covered in case of illness, accident or disability.
Insular Life (InLife,) the country’s largest Filipino life insurance company, pioneered in group insurance to help companies secure “A Lifetime for Good” for their employees. And to better serve MSMEs during these uncertain times, InLife partnered with UnionBank of the Philippines to be part of the online platform called the UnionBankGlobalLinker.
For companies with as few as five employees to as many as 5,000 employees, InLife’s customizable solutions include life insurance, health care, credit protection, accident and disability, critical illness, retirement and fund management programs.
“While entrepreneurs provide protection for their employees during this public crisis, employees, in turn, help their employers strengthen their businesses during these challenging times,” he added.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
By: Isidro E. Cacho Jr., IEMOP Head of Corporate Strategy and Communications Department
The power crisis experienced in the Philippines in the 1990s triggered the enactment of RA 9136 or the Electric Power Industry Reform Act (EPIRA). The vertically integrated structure of generation, transmission, and in some parts of the country, distribution of electricity, was undertaken by National Power Corporation (NAPOCOR). NAPOCOR suffered from revenue losses due to subsidies and large debts and thus the government was no longer able to support the setting up of new capital-intensive power plants.
As a response to this crisis, the Congress and the policy markets formulated RA 9136 or the Electric Power Industry Reform Act (EPIRA). EPIRA reformed the power industry to allow private investors to put up generation facilities and compete in the business of supplying electricity. This competitive environment under a regime of fairness, transparency, and public accountability was intended to ensure reasonable, if not lower, prices of electricity in the country. The EPIRA also provided for the unbundling of electricity costs and removed subsidies making the cost of electricity very transparent to end-users. Moreover, it enabled end-users to have a choice when it comes to the supply of electricity to their households.
To facilitate the entry of competition into the power industry, EPIRA mandated the establishment of Wholesale Electricity Spot Market (WESM). WESM enabled generating companies to sell their electricity to private distribution utilities and electric cooperatives regardless of a contract between them. It also reduced the barriers to entry for putting up generating plants.
Moreover, WESM gave more flexibility to distribution utilities whether to buy from counterparty generators through a power supply agreement (PSA) or through the spot market. Energy procured through PSA is subject to the approval of the Energy Regulatory Commission (ERC) while those bought from the WESM are driven by real-time interaction of supply and demand. WESM prices are generally low when there is sufficient supply and low demand. However, when the cheaper plants (like coal, geothermal, or natural gas pants) become unavailable and demand becomes high (like during summer months), more expensive plants (like diesel plants) set the price, resulting to an increase in market prices.
WESM also provided the framework for the retail competition and open access (RCOA). RCOA enables end-users to have the power of choice from whom to buy their electricity. To date, those end-users with 500 KW demand and up are eligible to participate in RCOA. Ultimately, EPIRA’s goal is to implement RCOA to all household consumers.
At the center of these processes is the Independent Market Operator (IMO). The EPIRA set forth that within one year of commercial operations, the WESM should be operated by an IMO. EPIRA further provided that this IMO must be jointly endorsed by the DOE and the Electric Power Industry participants. This significant provision ensures that the market regime of the WESM will not be influenced by any market participant. EPIRA intended that competition will not be hampered by the commercial and business interests of the sellers and buyers in the market. Its objective is to ensure that transparency will not be compromised and that the process of determining the electricity price every trading interval will strictly follow the WESM Rules and the methodology approved by the Energy Regulatory Commission (ERC).
In 2006, the WESM went on commercial operations under the autonomous group market operator – Philippine Electricity Market Corporation (PEMC). PEMC was tasked to initially set up and operate the WESM. PEMC was led by a 15-man board mostly from the stakeholders (generation, transmission, supply, and distribution) and was chaired by the Secretary of the Department of Energy. This arrangement was intended to be temporary until the establishment of the Independent Market Operator.
In 2018, after due consultation with all stakeholders, the Department of Energy (DOE) and the electric power industry participants jointly endorsed the transfer of WESM operation to the Independent Electricity Market Operator of the Philippines (IEMOP). Thus, eleven years after being mandated by EPIRA, the operation of the WESM was finally transferred to an IMO.
Through an independent entity operating WESM, stakeholders and the public are given confidence that there is no conflicting interest in the management of the power market. The IEMOP’s Board of Directors are individuals that are not affiliated with the power industry stakeholders. Hence, the decisions made in the conduct of market operations are pursuant to the best interest of the whole power industry and is not influenced by any market player.
The operations of IEMOP further ensures fairness in Market Operations. An Independent Market Operator, not being affiliated with any of the stakeholders, guarantees that the WESM is operated in a manner that is fair to all stakeholders, regardless of their market share or influence.
Moreover, the IEMOP ensures that WESM is operated in a transparent manner, in accordance with prevailing policies and regulations. All activities and transactions pertaining to the market operations are generally published in the market information website (www.iemop.ph) for transparency. Undeniably, having an Independent Market Operator at the helm of the Philippine WESM will clearly benefit ordinary consumers through its unbiased and competitive operations. Consequently, these benefits will support the country’s objectives towards a robust and sustainable economic growth.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
This year, the Asia Responsible Enterprise Awards (AREA) celebrates its 10-year anniversary milestone championing the most exceptional CSR programs across Asia. Over the last decade, AREA is proud and honored to be the advocate in encouraging and inspiring business leaders and enterprises to take on their responsibilities in creating a better world for all.
Enterprise Asia, the organizer of AREA, is pleased to recognize 69 outstanding award recipients who exemplified determination and perseverance despite the trying times. The AREA awardees have demonstrated relentless dedication to responsible business practices amidst the ongoing pandemic.
Widely regarded as the gold standard for CSR and sustainability practice, the AREA is the most prominent CSR recognition program across Asia initiated by the region’s leading NGO, Enterprise Asia. With over 500 winners from more than 19 countries since its launch, the AREA aims to recognize and honor Asian businesses and leaders for championing sustainable and responsible business practices. This year, an impressive number of 205 nominees from 16 countries were short-listed in the final round of judging and only 69 were accorded as award recipients.
Richard Tsang, president of Enterprise Asia, stated in his welcome speech, “Today, the majority of a company’s long-term value includes components such as innovation, intellectual capital and culture. Thus, a strong ESG strategy is an important element of a broader long-term value strategy that is tied to a business’ purpose and vision for recovery and success moving towards the post COVID-19 world.” He further mentioned that “sustainability cannot be looked at in isolation. It is akin to engineering a whole new system and cultivating a new way of life. It is a tough balancing act because there will be conflicts, compromises and trade-offs.”
Since 2011, AREA has recognized businesses from various industries while honouring their achievements in the seven categories of Social Empowerment, Investment in People, Health Promotion, Green Leadership, Corporate Governance, Circular Economy Leadership and Responsible Business Leadership.
Richard Tsang, president of Enterprise Asia
The winners for the Responsible Business Leadership Category which recognize leaders who are strong advocates for responsible entrepreneurship and at the forefront of promoting sustainable practices and in promoting the sustainability agenda within their organizations and their communities include Shuang-Lang (Paul) Peng, chairman and CEO of AU Optronics Corp.; Joseph Huang, chairman of E.SUN Commercial Bank; Richard M. Tsai, chairman of Fubon Financial Holding Co., Ltd.; Pitak Ratchakitprakarn, president and CEO of PTG Energy Public Company Limited from Thailand; and Chun-Chi Chou, founder of Sinyi Group from Taiwan.
Among the notable winning projects from the Health Promotion Category is Far Eastern Big City Shopping Malls Co., Ltd.. Its program, ‘Big City, Big Health – A Healthy Community Platform for All Ages’, focuses on devoting its resources to the segments of blood donation, liver disease prevention, and health promotion for all ages. The company held record-breaking blood donation campaigns, funded liver health forums to promote liver disease prevention, and organized over 160 activities promoting health for all ages last year.
The joint initiative of Taipei Lung Shan Temple, Liver Disease Prevention and Treatment Research Foundation, Taiwan, YUAN High-Tech Development Co., Ltd., and Realtek Semiconductor Corporation was also a part of the winning recipients for the Health Promotion Category. Their program, ‘For Peace, For Health, Ten Thousand People Together to Protect Our Livers!’, broke the Guinness World Record for the most people completing a health survey in 12 hours in Taipei, Taiwan on Oct. 31, 2020. The program sought to improve healthy liver awareness and all participants were offered free health checkups after completing the survey.
PTG Energy Public Company Limited emerged as one of the winners under the Social Empowerment category with its program, PT Volunteer Camp, ‘We Care Leave No One Behind,’ concentrates on contributing to the community nearby the company’s operational sites in the development areas of healthcare, education, and environment to empower the villagers’ access to better life opportunities and enable them to grow sustainably with the company. It established the PT volunteer doctor unit and PT creating lungs for the community, and offered eye examinations for the elderly, scholarship, sports equipment and education media deliveries for thousands of villagers.
Bolloré Logistics Singapore Pte. Ltd. is among the exceptional recipients of the Green Leadership Category for its “Powering Sustainable Logistics in Singapore” program. The program contributes to 8 of the United Nations’ Sustainable Development Goals, and the company managed to reduce its greenhouse gas emissions, waste consumables, and water consumption while increasing its recycling rate. In 2020, over 1,500 of the company’s staff were educated on sustainability topics, among which more than 1,300 received formal trainings on the topics.
Prior to the AREA, the International CSR & Sustainability (ICS) Summit 2021 was held in the day. The virtual summit was convened with over 300 C-suite level executives and business leaders from 12 countries.
Themed “Towards an Inclusive and Resilient Future,” the summit provided a regional platform for leading thought leaders and CSR practitioners to explore on pressing topics and recovery actions to rebuild towards a sustainable and resilient world.
The Chairman of Enterprise Asia, Tan Sri Dr Fong Chan Onn, expressed at the summit’s opening that “the crisis has been a sobering wake-up call to the importance of sustainable development and the urgent need to pay more attention to planetary health, similarly to the burning reality of the climate crisis, giving us food for thought about our priorities. I believe that the time for talk is over and we should now focus on real actions. We have the opportunity to reset and reshape the post-pandemic recovery towards a better future.”
Among the speakers were Dr. Niven Huang, Regional Leader for KPMG Sustainability Services Asia Pacific, KPMG Taiwan; Dr. Allinnettes Adigue, Head of the ASEAN Regional Hub and Global Reporting Initiative; Edoardo Gai, Managing Director for ESG Benchmarking, S&P Global Switzerland SA; Paul Marriott, President of SAP Asia Pacific and Japan; Marie Victoria Tan, Executive Director and Group Head of Enterprise Risk Management and Sustainability Unit, Ayala Corp., Philippines; Esther An, Chief Sustainability Officer of City Developments Limited (CDL); Margaret Kim, CEO of Gold Standard; Karina Litvack, Co-Founder of Climate Governance Initiative (World Economic Forum) and Non-Executive Independent Director, Eni SPA; Dr. Naoki Adachi, Executive Director of Japan Business Initiative for Biodiversity, and CEO and Founder of Response Ability, Inc.; Alexandra Tracy, President of Hoi Ping Ventures Hong Kong; Lito T. Tayag, Country Managing Director of Accenture, Inc. Philippines; Dr. Renard Siew, Head of Sustainability of Malaysian Resources Corp. Berhad (MRCB); Jessica Robinson, Founder and Managing Director of Moxie Future and Former Head of Asia at UN-PRI; Andrew WK Chan, Sustainability and Climate Change Leader of PwC’s South East Asian Consulting Services; and Rosemary Addis, Co-Founder and Executive Director of Impact Investing Australia, Senior Advisor to SDG Impact at UNDP.
The AREA 2021 and ICS Summit 2021 are supported by ASEAN CSR NETWORK, China Biodiversity Conversation and Green Development Foundation, Circular Economy Club, CSRone, CSR Universal Org, Global Reporting Initiative, India CSR Network, Malaysian Alliance of Corporate Directors, National Institute of Entrepreneurship and Innovation (NIEI) (Cambodia), The Green Earth, and The Malaysian Chamber of Commerce (HK and Macau) Limited (MAYCHAM). Additionally, AsianNGO, Bangkok Post, Biz Hub Vietnam, BusinessWorld, Commercial Times, Earth.Org, Hong Kong Economic Times, Impact Boom, Kumparan, SME Magazine and Viet Nam News as media partners.
RESPONSIBLE BUSINESS LEADERSHIP CATEGORY
NAME
ORGANISATION
COUNTRY
Shuang-Lang (Paul) Peng
Chairman & CEO
AU Optronics Corporation
Taiwan
Joseph Huang
Chairman
E.SUN Commercial Bank
Taiwan
Richard M. Tsai
Chairman
Fubon Financial Holding Co., Ltd.
Taiwan
Pitak Ratchakitprakram
President & CEO
PTG Energy Public Company Limited
Thailand
Chun-Chi Chou
Founder
Sinyi Group
Taiwan
SOCIAL EMPOWERMENT CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
Alaska Milk Corporation
AlasKaunlaran (Alaska + Development)
Philippines
Aspire Systems
Sewing Machine Operator Training for Women
India
Celcom Axiata Berhad
Digital Entrepreneurship and Equity in Education
Malaysia
CPC Corporation, Taiwan
Love in Middle Africa
Taiwan
Far Eastern Department Stores Ltd.
FEDS Christmas Charity Event for 13 Years – Passing the Love to the Rural Area
Taiwan
Farglory Life Insurance Co., Ltd.
Farglory Life Rural Area Care Program
Taiwan
Foxconn Education Foundation
Hon Hai Scholarship Program
Taiwan
G-Group Technology Corporation
Gpay E-Wallet
Vietnam
King Power International Co., Ltd.
King Power Thai Power
Thailand
MasterLink Securities Corporation
Empower Your Life! Let’s Go Fun in Finance Education
Taiwan
Metropolitan Electricity Authority
Khoiruttakwa Community Project, Community Development Project for Sustainability according to the Sufficiency Economy Philosophy
Pijar Berdaya – Social Innovation & Women Entrepreneurship
Indonesia
PT Pupuk Kalimantan Timur
Server Mang Budi (Mangrove Conservation & Diversification and Crab Cultivation) by Telok Bangko Group
Indonesia
PTG Energy Public Company Limited
PT Volunteer Camp, “We Care Leave No One Behind”
Thailand
Shinhan Vietnam Finance Company Limited
Drawing A Sustainable Future
Vietnam
Standard Chartered Bank (Taiwan) Limited
Futuremakers Programme
Taiwan
Taiwan Business Bank
Establish An Urban Renewal Financial Ecosystem
Taiwan
Taiwan Depository & Clearing Corporation
ReLife Project – Experimental Project for Self Pension Saving Investment
Taiwan
Taiwan Life Insurance Co., Ltd.
Hand in hand, Provide Zero Distance Solicitudes during the COVID-19 Pandemic
Taiwan
Taiwan Power Company
Bring Taipower Closer – Sensory Experience of Energy Education
Taiwan
WPP India Foundation
Education to Livelihood
India
HEALTH PROMOTION CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
ADATA Technology Co., Ltd.
Innovating the Future
Taiwan
An-Shin Food Services Co., Ltd.
Food Education for Preschoolers – MOS Burger DIY Project
Taiwan
Apex Circuit (Thailand) Co., Ltd.
Wear the Face Mask 100%
Thailand
Baxter Healthcare Ltd.
Improving the Nutrition Care for Premature Infants by Numeta G13E Ready-to-use Parenteral Nutrition
Taiwan
BDO Foundation
COVID-19 Pooled Testing Program and Initiatives for Undeserved Sectors of Society Vulnerable to the Effects of the Pandemic
Philippines
Bloomberry Resorts Corporation
Bloomberry Comprehensive COVID-19 Response
Philippines
Far Eastern Big City Shopping Malls Co., Ltd.
Big City, Big Health – A Healthy Community Platform for All Ages
Taiwan
Fubon Life Insurance
Demonstrate the Insurance Function and Involve in Taiwan’s Pandemic Prevention Project, Leverage Positive Forces to Stabilize Society and Warm the Hearts of the People
Taiwan
IRPC Public Company Limited
IRPC Unite in the Fight against COVID-19
Thailand
Nan Shan Life Insurance Co., Ltd.
All-Age Health Promotion Project
Taiwan
Pacific SOGO Department Stores Co., Ltd.
Infer Needs beyond the COVID-19, Make Corresponding Arrangements Beforehand
Taiwan
PTT Exploration and Production Public Company Limited
Community Health Development
Thailand
Samitivej Public Company Limited
Samitivej New Life Fund
Thailand
· Taipei Lung Shan Temple
· Liver Disease Prevention and Treatment Research Foundation, Taiwan
· YUAN High-Tech Development Co., Ltd.
· Realtek Semiconductor Corporation
For Peace, For Health, Ten Thousand People Together to Protect Our Livers!
Taiwan
Taiwan Life Insurance Co., Ltd.
Master Personal Health & Enjoy the Fun of Three Generations
Taiwan
TOGL Technology Sdn Bhd
Toga Resonance Technology (T-RT)
Malaysia
GREEN LEADERSHIP CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
ASE Technology Holding Co., Ltd.
ASEH’s Water Leadership: From Green Transformation to Sustainable Development
Taiwan
Bolloré Logistics Singapore Pte Ltd
Powering Sustainable Logistics in Singapore
Singapore
Chang Jung Christian University
International GREEN Sustainable University
Taiwan
CHIMEI Corporation
CHIMEI Green Energy Park
Taiwan
CPC Corporation, Taiwan
Smart Green Energy Gas Station
Taiwan
E Ink Holdings Inc.
Green Technology for Environmental Sustainability
Taiwan
Far Eastern Big City Shopping Malls Co., Ltd.
Big City, Big Green – A Sustainable Shopping Journey
Taiwan
Far Eastern Department Stores Ltd.
Lead A Green Life.
Building A Fashionable and Eco-friendly Department Store
Taiwan
Frasers Property Vietnam
Melinh Point Asset Enhancement Initiatives
Vietnam
Heineken Malaysia Berhad
Water Stewardship Programme
Malaysia
Philippine National Bank
Project P.L.A.N.E.T. (Protect, Love, And Nurture the Environment Together)
Philippines
Provincial Electricity Authority (PEA)
Towards the Renewable and Sustainable Energy Community
Thailand
PT Pupuk Kujang
Development of Citarum Harum Biodiversity Park
Indonesia
PT Rimba Makmur Utama
Katingan Mentaya Project
Indonesia
Selic Corp PCL.
Bio-Based Adhesive
Thailand
SinoPac Holdings
Building Solar Industry Chain Financial Ecosystem
Taiwan
Taiwan Cement Corporation
Low-carbon and Safety: TCC Innovative Product Traceability System
Taiwan
CORPORATE GOVERNANCE CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
ASE Technology Holding Co., Ltd.
The Foundation of ASEH’s Corporate Governance: A Top-down Approach on Sustainability
Taiwan
British American Tobacco (BAT) Vietnam
Delivery with Integrity
Vietnam
Lotus Pharmaceutical Co., Ltd.
Commit Corporate Transparency to Stakeholders
Taiwan
Matrix Concepts Holdings Berhad
Corporate Governance in A Challenging Corporate Environment
Malaysia
SinoPac Holdings
Ethics and Decency, Fulfillment of A Beautiful Life Through Finance
Taiwan
Sinyi Realty Inc.
Integrate Ethics into Sinyi
Taiwan
INVESTMENT IN PEOPLE CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
Accenture, Inc.
Being A Responsible Business for Our People
Philippines
AIA Thailand
AIA Thailand’s Management Associate Program
Thailand
Bangchak Corporation Public Company Limited
Read and Write with Ease Program
Thailand
Bolloré Logistics Singapore Pte Ltd
Happiness @ Bolloré
Singapore
British American Tobacco (BAT) Vietnam
Build and Elevate Future-fit Talent
Vietnam
E Ink Holdings Inc.
Smart Workforce Enables Sustainable Workplace
Taiwan
Frasers Property Vietnam
Experience Matters
Vietnam
Innolux Corporation
Innolux 4.0 Digital Transformation Talent Development Project
Taiwan
Pacific SOGO Department Stores Co., Ltd.
Establish Pioneering Safe Mall in Taiwan, and Nurse Best Talents in Service Industry
Taiwan
Plus Property Co., Ltd.
Empower Your Value: 1st Environmental Management Trainee
Thailand
SinoPac Holdings
SinoPac Holdings Senior Executive Training & Development Program
Taiwan
Sinyi Realty Inc.
Industry-academia Collaboration Program
Taiwan
Thai Life Insurance Public Company Limited
“Opportunity for Better Life” 2nd Edition
Thailand
The Electricity Generating Public Company Limited
Khanom Learning Center
Thailand
Yuanta Securities Co., Ltd.
The Pioneer of the Securities Industry – Yuanta Human Capital Boosting Program
Taiwan
CIRCULAR ECONOMY LEADERSHIP CATEGORY
ORGANISATION
WINNING CSR PROGRAMME
COUNTRY
Taiwan Power Company
Creating Circular Innovation Opportunities from the Value Chain of Electric Power Industry
Taiwan
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
THE country’s metallic mineral industry grew by 24.50% in the first half due to higher metal prices, the Mines and Geosciences Bureau (MGB) said.
In a report on Thursday, the MGB said metallic mineral production value stood at P68.63 billion in the January to June period, higher than the P55.13 billion posted a year ago.
“The telling factor for this sterling performance was the continued strong metal prices during the period,” it said.
Nickel and its products accounted for 53.44% or P36.68 billion of the total production value, followed by gold at 34.84% or P23.91 billion and copper at 10.87% or P7.46 billion. The combination of silver, iron ore, and chromite made up less than 1% or P584.75 million.
According to MGB, nickel ore production volume rose 39% to 151,646 metric tons (MT), which is valued at P21.42 billion.
Prices of nickel surged 40% year on year to $17,490.15 per MT, compared with $12,473.17 per MT recorded in 2020.
Taganito Mining Corp. was the top nickel producer with 28,935 MT, followed by Rio Tuba Nickel Mining Corp. at 25,301 MT, and Platinum Group Metals Corp. at 12,977 MT.
“Out of the 28 listed operating nickel projects, only 19 reported productions, nine or 32% were with zero production,” MGB said.
“In terms of production by province, Surigao del Norte led with 51,162 MT, followed by Palawan with 39,190 MT. Surigao del Sur took the third spot with 21,060 MT,” it added.
Meanwhile, first-half gold production volume increased by 3% to 8,545 kilograms, with an estimated value of P22.15 billion.
Average price of gold for the first half rose 9.8% to $1,808.59 per troy ounce, compared with $1,647.59 per troy ounce a year ago.
The top gold producer was Philippines Gold Processing and Refining Corp. with 3,558 kilograms, followed by Mindanao Mineral Processing and Refining Corp. with 1,268 kilograms, and FCF Minerals with 1,090 kilograms.
On the other hand, copper production volume slumped 24% to 23,557 MT, although production value increased by 4% to P7.46 billion in the first six months.
The price of copper for the period rose 65.5% to $9,094.61/MT from $5,496.36/MT.
“The P0.27 billion surge was courtesy of the upbeat price of copper during the period from $5,496.36 per metric ton in 2020 to $9,094.61 per metric ton in 2021, a substantial $3,598 increase. The positive price was partly due to supply disruptions in major producing countries like Peru and Chile,” the MGB said.
Carmen Copper Corp. contributed 75% or 17,568 MT of total production volume while the remaining 25% or 5,989 MT came from Philex Mining Corp.
Silver production volume dropped 6% to 11,069 kilograms, although the value went up 46% to P451.47 million.
Apex Mining Co., Inc. was the top silver producer, followed by Philippines Gold Processing and Refining Corp.
In a mobile phone message, Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco said he expects the strong performance of the minerals industry will continue.
“I am not surprised with the result since (there) is a strong demand for minerals due to the shift to electric vehicles and demand for information technology devices,” Mr. Chikiamco said.
“I foresee a long-term boom in minerals because of these strong trends buoying demand and in the short term, shortage of supply with few projects coming online,” he added.
Moving forward, MGB said the local minerals industry is expected to be vital contributors to the national economy, especially with the reopening of the Didipio Copper-Gold Project of OceanaGold Philippines, Inc. (OGPI) in Nueva Vizcaya and the issuance of the implementing rules and regulations of Executive Order (EO) No. 130 that lifted the ban on new mineral agreements.
“The renewal of the application of OGPI was approved in July 14. This is projected to boost local copper, gold, and silver mine production,” it said.
The MGB expects gold prices to remain strong “given its safe-haven appeal to investors during these uncertain times.”
However, it noted that economic activity around the world will be hampered by the prolonged pandemic.
“Reduced economic activities would mean the demand for industrial metals like copper, iron ore, nickel, and among others being utilized by the steel, construction and other downstream industries to decline. Mineral analysts are also projecting, demand cutback from China, for these metals,” MGB said. — Revin Mikhael D. Ochave
The Contact Center Association of the Philippines expects 2.7-3.2% revenue growth rate from 2020 to 2022, based on an Everest Group report. — COURTESY OF CONTACT CENTER ASSOCIATION OF THE PHILIPPINES
By Jenina P. Ibañez, Reporter
THE business process outsourcing (BPO) industry will need funding to scale up its upskilling program and reach hundreds of thousands of employees to address industry demands, an industry group official said.
Benedict C. Hernandez, chair of the Information Technology and Business Process Association of the Philippines (IBPAP), said the industry has been working with the Department of Information and Communications Technology to train thousands of workers.
“I think we can do this at a bigger level if we can actually fund it,” he said in an online video interview.
“It needs to go up into the hundreds of thousands,” he said. “I think it will just position us better to accelerate growth and maintain our top global position.”
The industry group had once again cut its revenue and employment targets up to 2022, reflecting the impact of the coronavirus pandemic. The compound annual growth rate (CAGR) for employment is projected at 2.7-5%, which would mean 1.37-1.43 million full-time employees.
This is the second time IBPAP cut targets from the 8% employment CAGR set in 2016, after pressures arising from geopolitical issues, automation, protectionist policies, and the rapid transformation of business models lowered projections.
BPO revenues inched up 1.4% after the pandemic disrupted operations last year.
Mr. Hernandez noted that the industry’s hiring accelerated in the latter half of 2020, and expects a “decent return to growth” in 2021.
“We were busy hiring and growing last year, and we will be even busier in hiring and growing this year.”
The Contact Center Association of the Philippines expects 2.7-3.2% revenue growth rate from 2020 to 2022, based on an Everest Group report. Some industry group members expect higher growth despite the strict lockdowns in Metro Manila.
For the whole industry, the revenue projection stands at 3.2-5.5% CAGR.
“While staying afloat was the focus for many businesses like the contact center sector in 2020, the attention has now shifted to growth and helping jumpstart the economy through hybrid work setup and intensified vaccination efforts,” CCAP President Jojo Uligan said in a statement.
TELUS International Philippines’ Vice-President for Digital Solutions Nalakumar “Nala” RS said that automation will not threaten job security, as these technologies are backed by people training artificial intelligence (AI) algorithms to perform tasks.
But he said that the increasing digital requirements also widened the skills gap.
“Although the pandemic didn’t create the skills gap, its far-reaching implications have widened the gaps and amplified the demands,” the Telus executive said in an e-mail. “Customer support is a perfect example of the urgent need for upskilling and reskilling.”
Grocery stores move employees from the floor to online order fulfillment while contact centers transferred employees to clients that have increased demand, he added.
“TELUS International reallocated team members from travel and hospitality brands that were seeing a decline in business during COVID-19 to support brands that saw an increase in business like gaming and e-commerce companies.”
He said that he expects companies to change recruitment criteria to target people with more technology skills, and he added that benchmarks for industry skills should be set to help government and private firms align training needs.
Mr. Hernandez, who also leads intelligent operations client experience for Accenture Asia Pacific, said that talent access has been the top issue seen by industry players.
Accenture has changed thousands of transactions-based jobs to specialized business advisor and data science roles by updating its training and recruitment strategies.
“Everybody’s fighting over data scientists, more experienced people in BPO, whether it’s clinical nursing kind of talent or banking, insurance, financial services kind of experts. So, there is demand for general talent overall, and there’s also a bigger fight for specialized talent,” he said.
“The trick is you leverage all of these digital technologies — whether it’s AI, analytics, cloud, and all — but you have to invest in your own people so that they can be prepared to do the next interesting thing. If you don’t upskill them, then you will encounter a situation where ‘I don’t have a role for you anymore.’”
