Pag-IBIG mortgage disbursements hit P58.52 B in eight months to August 

September 24, 2021 | 6:30 pm

Home Development Mutual Fund, which trades under the brand Pag-IBIG, said it released P58.52 billion worth of home loans in the eight months to August.

In a statement Friday, Pag-IBIG said home loans for the first eight months rose 96% from a year earlier, and went out to 57,235 members.

Pag-IBIG said members’ savings under the voluntary Modified Pag-IBIG 2 (MP2) Savings program amounted to P17.73 billion.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti expects improved results as the vaccine rollout progresses.

“Even with the ongoing pandemic, the amount of home loans released and MP2 Savings collections from January to August 2021 are not only record highs but are higher than what we achieved during the same period in 2019, prior to the pandemic,” Mr. Moti said.

“The continued trust of our members and stakeholders gives us the confidence that we shall achieve another best year in fulfilling our mandates. In return, we shall remain as their reliable partner by providing programs that address their needs, especially during this health crisis,” he added. – Revin Mikhael D. Ochave

China says all crypto-related transactions are illegal

September 24, 2021 | 6:27 pm

2021-06-29_Bitcoin_CRYPTO-CURRENCY — Reuters

China’s central bank said all cryptocurrency-related transactions are illegal and must be banned, sending the strongest signal yet on its determination to crack down on the industry.

All cryptocurrencies, including Bitcoin and Tether, are not fiat currency and cannot be circulated on the market, the People’s Bank of China said on its website. All crypto-related transactions, including services provided by offshore exchanges to domestic residents, are illicit financial activities, the PBOC said in the statement.

This latest harsh directive, which sent Bitcoin dropping as much as 5.5% on Friday, comes as global markets grow increasingly concerned over a debt crisis involving property developer China Evergrande Group. The Chinese government may also be responding to signs that miners are disguising their activities to stay in business.

Vijay Ayyar, head of Asia Pacific with cryptocurrency exchange Luno in Singapore, said that while the Chinese government has made similar statements in the past, it is “a slightly nervous environment for crypto with the recent SEC comments and overall macro environment with the Evergrande news. So any comments of this nature will cause a sell-of in risky assets.”

The nation’s economic planning agency also said it is an urgent task for China to root out crypto mining, and the crackdown is important to meet carbon goals.

Investors should expect “knee-jerk price reaction as China takes the wind out of Bitcoin’s sails,” said Antoni Trenchev, co-founder of crypto lender Nexo. “The recent rebound from just below $40,000 has likely run its course for now.” — Bloomberg

Peso weakens further on inflation fears

September 24, 2021 | 6:03 pm

Peso-currency — PHILIPPINE STAR/KRIZ JOHN ROSALES

The peso continued to weaken against the dollar Friday on lingering inflation concerns after the central bank raised its medium-term projections for inflation.

The peso closed at P50.65 against its P50.34 finish on Thursday, according to the Bankers Association of the Philippines.

The peso opened at P50.32, with the low at P50.67 and the high at P50.24.

Dollar volume rose to $1.185 billion from $1.079 billion on Thursday.

The peso weakened by 70 centavos from the P49.95 close on Sept. 17.

“The peso weakened after the BSP (Bangko Sentral ng Pilipinas) upwardly revised its inflation projections despite keeping its policy rate unchanged,” a trader said via e-mail Friday.

During its policy-setting meeting Thursday, the BSP raised its inflation outlook for the year to 4.4% from 4.1% previously as supply issues continue to push food prices higher. This took it beyond the 2-4% target of the central bank for 2021.

Headline inflation rose to 4.9% in August from 4% in July, its highest level in more than two years, to bring the eight-month average to 4.4%.

The foreign exchange market was also reacting to indications that the Federal Reserve may start reducing its monthly bond buying program by November, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said via Viber Friday.

The Fed said Wednesday it could begin the “taper” if jobs data remain strong, Reuters reported.

Interest rate hikes may also begin next year once the bond-buying program ends, as nine of 18 Fed policymakers believe borrowing costs have to increase in 2022.

“The peso also (ended) weaker as the dollar was near one-month highs after some global safe haven shifts to the US currency in recent days (as) concerns over China Evergrande led to some profit-taking in the global financial markets,” Mr. Ricafort added. – Beatrice M. Laforga

DoF wants to wean crop insurance firm off subsidies, expand coverage

September 24, 2021 | 6:00 pm

The Department of Finance (DoF), which is now overseeing the Philippine Crop Insurance Corp. (PCIC), said its goal is to make the company less reliant on subsidies and provide broader coverage to respond to the threat of climate change.

Finance Secretary Carlos G. Dominguez III, recently named the chairman of PCIC, told board members that the top priority for the company is to “stop its financial bleeding,” adding that “Unless we are able to scale up our crop protection insurance, we cannot substantially mitigate economic losses due to calamities further intensified by climate change.”

He was speaking at the first meeting of the reconstituted PCIC Board Friday. The lead agency overseeing the company previously was the Department of Agriculture (DA).

Mr. Dominguez noted that the PCIC received subsidies of P23.3 billion in the past two years, and an additional P5.3 billion in financial support from the Agri-Agra Fund since 2015.

Next year, the company is expected to receive P4.5 billion in budgetary support from the national government.

“This trend is not sustainable,” Mr. Dominguez said.

“The PCIC’s operations must be sustainable—if not totally subsidy-free. This requires a new business model and the most competent management of this service,” he added.

Mr. Dominguez said the PCIC should expand the insurance coverage to cover more assets and crops with lower premiums to provide greater protection from potential financial losses due to natural calamities.

He also urged the company to explore reinsurance and encourage more private companies to offer agriculture insurance products.

“The PCIC should likewise consider other types of insurance programs implemented in other countries, such as the index-based or parametric insurance,” he added.

Aside from expanding its operations, the PCIC should also determine how much the government is losing by insufficiently covering the agriculture sector, he said.

Mr. Dominguez said he met with representatives of the PCIC and the Insurance Commission to formulate a blueprint for the company over the next three years.

President Rodrigo R. Duterte signed Executive Order (EO) No. 148 on Sept. 14, which transferred oversight of the PCIC to the DoF.

The Federation of Free Farmers has described the move as potentially making the company less responsive to farmers’ needs.

Mr. Dominguez has said that the DoF has no current plans of privatizing the PCIC.

The PCIC provides subsidized insurance protection to farmers against losses from natural disasters and plant and animal diseases, particularly for corn and rice.

The EO reconfigured the PCIC Board to make the Finance secretary chairman, relegating the Agriculture secretary to vice-chairman and reducing the number of farmer representatives on the board from three to one.

Members of the board include the PCIC president, the Land Bank of the Philippines president, the Government Service Insurance System president and general manager, a private insurance industry representative, and a farmer representative.

“I trust this board will find the path to sustainability. Our farmers face the increasing likelihood of suffering losses due to severe and erratic weather events caused by climate change. Crop insurance is an effective instrument to mitigate dislocation and economic losses. The PCIC must be there to extend the widest coverage possible,” he said. – Beatrice M. Laforga

Power spot market price falls in first 3 weeks of September 

September 24, 2021 | 5:58 pm

The average spot market price fell 35% month-on-month to P3.10 per kilowatt hour (/kWh) in the first three weeks of September due to improved supply, according to the Independent Electricity Market Operator of the Philippines (IEMOP).

The drop was due to “an increase in the supply margin,” IEMOP Manager for Market Simulation and Analysis John Paul S. Grayda said in a virtual briefing Friday.

The market operator reported that the rate for this month’s billing period covered the period Sept. 1 to 21.

In a statement issued Friday, IEMOP said it expects prices to further drop this month due to sufficient supply which will mostly come from coal-fired power plants and a decrease in average demand, which was 9,824 megawatts (MW) as of Sept. 21.

IEMOP also said that the effective settlement spot price (ESSP) fell to P5.13/kWh in August compared to P7.12/kWh.

“This trend has been observed since the month of June given the persisting colder weather conditions. The total spot percentage also decreased for this period by 9.6% to 8.6%. The generation for August spot transactions was recorded at 6,989 gigawatt hours (GWh),” it said.

However, IEMOP said system peak demand rose to 12,481 MW in September from 12,272 MW the month before.

During the briefing, Robinson P. Descanzo, IEMOP Chief Operating Officer, said simulations indicate sufficient power supply for the Oct. 2 to 22 period, or during the scheduled maintenance shutdown of the Malampaya gas field.

“Historically again, we saw that (the natural gas plants) offer prices are not that high when fired with condensate because I think the main reason is they are fully covered by the contracts,” Mr. Descanzo said.

“Since some natural gas plants will still be operating on liquid fuel in lieu of natural gas during the temporary shutdown and providing power to the grid, price volatility will be likely dampened,” he added.

Meanwhile, IEMOP Spokesperson Andrea Mae T. Caguete estimated that the reserves market will be implemented by 2022. The planned market seeks to encourage investors to build facilities that will address ancillary services requirements.

However, Ms. Caguete said the wholesale electricity spot market (WESM) for Mindanao will be implemented first prior to the reserves market.

IEMOP Operations Senior Specialist Valfia S. Uy-Gregorio said amendments have been made to the WESM rules and related market manual.

“We are looking at its (reserves market) implementation in 2022. I think the WESM Mindanao is being targeted this year… hopefully within the fourth quarter of 2021,” Ms. Gregorio said.  – Revin Mikhael D. Ochave

Wholesale price growth of general goods hits 19-month high

September 24, 2021 | 5:56 pm

Wholesale price growth of general goods hit a 19-month high in July, the Philippine Statistics Authority (PSA) said Friday.

Preliminary PSA data indicate that the general wholesale price index (GWPI) rose 2.9% year-on-year in July, accelerating from the 2.2% posted in June and the 2.7% from a year earlier.

The July figure was the highest since the 3.1% growth recorded in December 2019. It also matched the growth rate from January 2020.

In the seven months to July, the GWPI rose 2.6%, up from the year-earlier rate of 2.5%.

The acceleration in prices was attributed to stronger price growth in food (1.2% from 0.5% in June); beverages and tobacco (4.3% from 4.1%) ; mineral fuels, lubricants and related materials (18.2% from 15.9%); and manufactured goods classified chiefly by materials (3.9% from 0.8%).

Price growth decelerated in crude materials, inedible except fuels (38.5% from 39.2%); chemicals including animal and vegetable oils and fats (5.3% from 5.7%); and miscellaneous manufactured articles (0.3% from 3%).

Compared with the previous month, growth in wholesale prices of machinery transport and equipment was unchanged at 0.9%.

Wholesale prices in Luzon posted 3% growth in July, following a 2.1% expansion in June.

In the Visayas, the GWPI grew 0.6%, picking up from 0.4% the previous month.

In the year to date, the GWPI for Luzon and Mindanao rose 2.7% and 4.3%, respectively. On the other hand, wholesale prices in the Visayas declined by 0.1%.  – Lourdes O. Pilar

SMC, gov’t break ground on P95-B Pasig river expressway project

September 24, 2021 | 5:54 pm

San Miguel Corp. (SMC) and the government broke ground on the 19.37-kilometer Pasig River Expressway (PAREX) project on Friday.

“PAREX will be built to accommodate more than just motor vehicles. Once complete, it will feature a bus rapid transit system that will benefit commuters all over Metro Manila,” SMC said in a statement.

The supplemental toll operations agreement for the PAREX project was signed on Sept. 21.

The project is a six-lane elevated expressway that will run from Radial Road 10 in the city of Manila to Circumferential Road 6, also known as the future South East Metro Manila Expressway (SEMME) in Taguig. It will run along the banks of the Pasig River.

“Once operational, PAREX will link the eastern and western cities of Metro Manila and will connect to the Skyway system, realizing the vision of an integrated elevated road network that will link the north, south, east, and west corridors of the capital,” SMC said.

“The expressway will also have dedicated bike lanes to encourage healthy, environment-friendly modes of personal transportation, as well as pedestrian walkways to encourage walking or exercise,” it added.

The conglomerate has allotted P2 billion to rehabilitate the Pasig River.

It is also planning to expand water transport through ferries that will connect Metro Manila’s main waterways like Laguna de Bay, the Pasig River, Manila Bay, and the Marikina River. – Arjay L. Balinbin

Shares rise as BSP keeps rates unchanged

September 24, 2021 | 5:51 pm

PSE Trading Floor — COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.

LOCAL shares ended higher on Friday as the country’s central bank kept interest rates at a record low and as US markets performed strongly, analysts said.

The bellwether Philippine Stock Exchange index (PSEi) rose 36.25 points or 0.52% to close at 6,951.53 while the broader all shares index increased 21.14 points or 0.49% to 4,323.64.

Darren Blaine T. Pangan, a trader at Timson Securities, Inc., said in a mobile phone message that the market ended higher as investors digested the move of the Bangko Sentral ng Pilipinas (BSP) to keep interest rates unchanged.

BSP announced on Thursday that the key rate would be kept at 2%, while overnight deposit and lending rates would stay at 1.5% and 2.5%, respectively, as part of efforts to boost the national economy amid the coronavirus disease 2019 (COVID-19) pandemic.

“Together with appropriate fiscal and health interventions, keeping a steady hand on the BSP’s policy levers will allow the momentum of economic recovery to gain more traction by helping boost domestic demand and market confidence,” BSP Governor Benjamin E. Diokno said in an online news briefing Thursday.

For Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco, the market closed higher due to a spillover from the performance of US markets.

The Dow Jones Industrial Average rose on Thursday by 506.50 points or 1.48% to 34,764.82; the S&P 500 increased 53.34 points or 1.21% to 4,448.98; and the Nasdaq Composite climbed 155.40 points or 1.04% to 15,052.25.

“Hopes on the further easing of social restrictions in the country amid our improving COVID-19 situation also gave a boost to positive sentiment,” Mr. Tantiangco said in a mobile phone message.

He said AC Energy Corp. led the index gainers, jumping 4.65% to P11.70, while Aboitiz Equity Ventures, Inc. was at the tail end, falling 2.16% to P52.00.

On Friday, holding firms’ sectoral index was the only one that ended lower, at

13.62 points or 0.19% to 6,921.95.

In contrast, property went up 34.54 points or 1.14% to 3,055.31; financials gained 13.85 points or 0.98% to 1,426.79; services improved 15.95 points or 0.83% to 1,923.46; mining and oil climbed 76.82 points or 0.82% to 9,436.54; and industrials inched up 23.42 points or 0.22% to 10,259.43.

Value turnover on Friday reached P8.95 billion with 2.11 billion issues switching hands, higher than the P6.48 billion with 1.59 billion issues traded the previous day.

Net foreign selling amounted to P352.05 million, higher than the P294.27 million in net outflows recorded on Thursday.

Advancers beat decliners, 103 against 79, while 67 names ended unchanged.

“As the index hovers around its immediate resistance at the 7,000 area, we’ll have to observe next week if this level would finally be breached. Otherwise, 6,780 seems to be the nearest support area,” Mr. Pangan said. — Revin Mikhael D. Ochave

Twitter announces monetization features, including crypto tips

September 24, 2021 | 5:16 pm

Twitter is rolling out a Tips feature that lets users send and receive one-time payments using third-party services, it announced on Sept. 23.

The social media platform is also adding recording and replay functions to Spaces (live audio conversations on Twitter); Super Follows, which allows creators with large followings to earn an income; and a safety mode for auto-blocking accounts similar to the ones users have already blocked.

“Our first purpose is to serve the public conversation,” said Kayvon Beykpour, Twitter’s head of consumer product, at the virtual event. “Public conversation is important because it helps people learn, solve problems, and realize that we’re all in this together.”

TIPS

Tips lets users worldwide send and receive one-time payments using third-party services such as Venmo, Patreon, and GoFundMe. Users in the US and El Salvador can also give and receive Bitcoin tips through Strike, a payments application built on the Bitcoin Lightning Network. An account has turned on Tips if a paper money icon can be seen next to the Follow button on the profile page.

“Twitter wants everyone to have access to pathways to get paid,” said product lead for creator monetization Esther Crawford. “Digital currencies that allow more people to participate in the economy, across borders, and with as little friction as possible, help us get there.”

Tips is available worldwide on iOS, with Android coming soon.

SUPER FOLLOWS

Creators with devoted followings will be provided an outlet to “turn followers into fans, and fans into funds” through Super Follows, which is being tested in a small group of creators on iOS in the US.

“We see a huge opportunity [for these creators] to earn additional income directly from people who appreciate and value their content the most,” Mr. Beykpour said.

Through Super Follows, a monthly subscription service, creators can charge for exclusive access to content such as behind-the-scenes thoughts and private conversations; newsletters will likewise be pushed forward for writers to gain a following.

SPACES

Recording and replays of Spaces, a feature that allows users to have live audio conversations on the platform, will be available soon. Ticketed Spaces is also being rolled out to give hosts the option of setting prices and audience size to get compensated for the experiences they create.

“Different people want to talk in different ways,” Ms. Crawford said. “We want to enable everyone on Twitter to express themselves however they feel most comfortable. We need to expand expression beyond 280 characters.”

Spaces has been used by actors to answer questions from fans and by reporters recapping the latest news stories. It’s also been used for talent shows featuring aspiring singers.

COMMUNITIES

Users with similar interests can congregate on Twitter Communities. Tweets can be sent directly to community members, although these will still be publicly visible. Available on iOS and the web, users can apply to create and moderate their own community, but can’t currently join one unless invited by a moderator or another member.

Communities are being tested around popular topics such as dogs, weather, sneakers, skincare, and astrology, according to a recent blog post by Twitter staff product manager David Regan.

SAFETY MODE

The Safety Mode feature decentralizes controls and auto-block accounts similar to the ones users have already blocked. The feature is being tested on a small group on iOS, Android, and Twitter.com, beginning with accounts that have English-language settings enabled.

“People are only going to talk on Twitter if they feel comfortable doing so,” Mr. Beykpour said. “One way we enable this is by empowering people to control who they want to hear from and talk to, and on what terms.”

Other safety features in the pipeline are word filters so users can remove unwanted speech in their replies, and prompts that allow users to know who are in a particular discussion so they can decide whether they want to jump in or not. — Patricia B. Mirasol

South Korea reports record daily COVID-19 cases; planning how to live with COVID-19

September 24, 2021 | 3:55 pm

SEOUL — South Korea has set a record for daily coronavirus disease 2019 (COVID-19) cases at 2,434, breaking the previous record set last month, as the country grapples with a wave of infections that began in early July, the Korea Disease Control and Prevention Agency (KDCA) said Friday.

The mortality rate and severe cases remain relatively low and steady at 0.82% and 309, respectively, helped largely by vaccinations that prioritised older people at high risk of severe COVID-19, KDCA said when reporting figures for Thursday.

Prime Minister Kim Boo-kyum stressed the need for virus-prevention rules to be stricter as adherence could have been lax during this week’s three-day holiday.

“If prevention measures are not managed stably, the gradual recovery to normal life will inevitably be delayed,” Mr. Kim told Friday’s COVID-19 response meeting.

Authorities have advised people returning from holiday to be tested even for the mildest COVID-19-type symptoms, especially before going to work.

The daily caseloads may continue to surge and peak by next week as more people get tested after the break, Lee Ki-il, deputy minister of health care policy, told a briefing.

The government is drawing up a plan on how to live more normally with COVID-19, expecting 80% of adults to be fully vaccinated by late October. The strategy will be implemented in phases to gradually ease restrictions, while masks will still be required at least in the initial stage.

Although the strategy will not immediately lift all prevention measures, South Korea — which struggled to get vaccine supplies initially — was now in a more comfortable position for the transition, President Moon Jae-in told reporters aboard South Korea’s presidential jet on Friday.

“There is no problem at all with the amount of vaccines secured for this year,” Mr. Moon said. “The vaccine shipment got off to a slower start than other countries, which delayed the vaccination program, but I believe by next month, we will catch up and be a leading country by inoculation rate.”

South Korea this week said it would donate more than 1 million doses of COVID-19 vaccine to Vietnam next month in what would be the country’s first direct cross-border sharing of its vaccine stockpile.

South Korea will remain under tough social-distancing curbs through Oct. 3, which includes limited operating hours for cafes and restaurants and limiting the number of people allowed at social gatherings to two people after 6 p.m. in Seoul.

Thursday’s new cases brings total infections to 295,132, with 2,434 deaths.

South Korea has given 72.3% of its 52 million population at least one dose of COVID-19 vaccine through Thursday, and has fully inoculated nearly 44%. — Sangmi Cha/Reuters

North Korea says open to talks if South drops double standards

September 24, 2021 | 3:03 pm

SEOUL — South Korea’s call for a formal end to the Korean War is premature but the door for dialogue is open if it scraps its double standards and hostile policy, a senior North Korean official said in comments published by state media on Friday.

The 1950–53 Korean War ended with an armistice not a peace treaty, leaving US-led UN forces technically still at war with North Korea. The question of formally ending the war has become caught up in a US-led effort to get North Korea to give up its nuclear weapons.

South Korea President Moon Jae-in repeated a call for a formal end to the war in an address to the UN General Assembly in New York on Tuesday.

Senior North Korean official Kim Yo Jong, the powerful sister of leader Kim Jong Un, said Mr. Moon’s proposal was “interesting and admirable” but conditions were not right because of South Korea’s persistent double standards, prejudice and hostility.

“Under such a situation it does not make any sense to declare the end of the war with all the things, which may become a seed of a war between parties that have been at odds for more than half a century, left intact,” Ms. Kim said in a statement carried by the North’s official KCNA news agency.

South Korea should change its attitude and foster the conditions for a meaningful discussion on ways to end the conflict and improve ties, she said.

“What needs to be dropped is the double-dealing attitudes, illogical prejudice, bad habits and hostile stand of justifying their own acts while faulting our just exercise of the right to self-defense,” Ms. Kim said.

“Only when such a precondition is met, would it be possible to sit face to face and declare the significant termination of war and discuss the issue of the north-south relations and the future of the Korean peninsula.”

North Korea has for decades been seeking an end to the war but the United States has been reluctant to agree unless North Korea gave up its nuclear weapons.

TALKS STALLED

Expectations were raised that a declaration on ending the war, even if not an actual treaty, would be made during a historic summit between then US President Donald J. Trump and North Korea’s Kim Jung Un in Singapore in 2018.

But that possibility, and the momentum on talks that those two leaders generated over three meetings, came to nothing. Talks have been stalled since 2019.

Mr. Moon, a liberal who has made improving ties with North Korea a priority, sees ending the war as a way to nudge forward the effort to press North Korea to give up its nuclear and ballistic missile arsenals in return for US sanctions relief.

But his call looks unlikely to break the deadlock.

He said on Friday he was confident North Korea would eventually see it was in its interests to reopen dialogue with the United States but he was not certain if that would come before his term ends next year.

“It seems that North Korea is still weighing options while keeping the door open for talks, since it is only raising tension at a low level, just enough for the US to not break off all contact,” he told reporters on his way home from New York.

US President Joseph R. Biden, Jr., said in his own UN address that he wanted “sustained diplomacy” to resolve the crisis surrounding North Korea’s nuclear and missile programs.

North Korea has rejected US overtures to engage in dialogue and the head of the UN atomic watchdog said this week that its nuclear program was going “full steam ahead.”

North Korea’s Vice Foreign Minister Ri Thae Song said on KCNA earlier that the United States should withdraw its “double-standards and hostile policy” to break the deadlock. — Sangmi Cha and Hyonhee Shin/Reuters

TikTok Collaborates with the Department of Tourism for locally driven #GandaMoPinas campaign

September 24, 2021 | 2:15 pm

TikTok, the leading destination for short-form mobile video, collaborated with the Department of Tourism (DOT) in an effort to elevate local livestream content through the #GandaMoPinas campaign. The campaign spotlights creators from around the country who will promote their region through TikTok Live and explain how each place showcases the beauty of the Philippines.

During their live sessions, each creator will share more about their province, highlighting its natural landscape, top tourist spots and activities, best cuisine, as well as local products. These creators will encourage their viewers to help share more of the Philippines’ beauty to travellers missing the islands and for them to visit when it’s safe to do so. All that is needed is to tag the DOT in their own entertaining and engaging content featuring their provinces, and following the official TikTok account of the DOT to discover more local destinations to fall in love with.

Nine creators from Luzon, Visayas and Mindanao were shortlisted by the DOT and TikTok as local representatives to participate in the campaign. These creators were each tasked to share a short video inviting their followers to watch their #GandaMoPinas live sessions on TikTok. They will then go live on TikTok for one hour each, between September 22 and 30, 2021.

Once all nine creators have completed their livestreams, a winner from each area will be bestowed the honour of the ‘TikTok Funfluencers’, based on their number of viewers. Winners also will receive selected merchandise and support from TikTok and the DOT.

The #GandaMoPinas campaign is only the first of many planned partnerships between TikTok and various local departments in the Philippines. Through these initiatives, TikTok hopes to produce more high-quality, relevant livestream content among local creators on the platform.

Catch the #GandaMoPinas live sessions on TikTok from September 22 to 30, 2021! Download the app on your iOS and Android devices to get started.

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