![\"\"](\"/wp-content/uploads/2022/11/PBCE2-OL-300x150.jpg\")
Aside from reminiscences of the nation\u2019s journey toward freedom, Philippine Independence Day often brings to mind one of the important emblems that has served as a reminder of our national identity and the history and heritage that have nurtured such identity \u2014 our National Flag.
\nWhile our National Flag Day is observed on May 28, as declared by Presidential Proclamation No. 374 on March 6, 1965, the celebration of the said day extends until June 12, as ordered by Executive Order No. 179 on May 23, 1994.
\nExecutive Order No. 179, which was signed by Former President Fidel V. Ramos, recognized that the period spanning the commemoration of the National Flag Day and Independence Day is an \u201copportune time for all Filipinos to collectively reflect on the significance of the National Flag.\u201d
\nFurthermore, as Proclamation No. 374 signed by Former President Diosdado Macapagal stressed, the National Flag \u201cis the consecrated repository of our ideals and traditions and the historic symbol of our nation as a sovereign people,\u201d and so the National Flag Day seeks to address the \u201cneed of instilling and perpetuating in the minds and hearts of the citizenry greater honor, respect and reverence for our flag.\u201d
\nThe National Flag Day recognizes the significant day when the Philippine flag was first unfurled and \u201creceived its baptism of fire and victory,\u201d as Presidential Proclamation No. 374 puts it, in the Battle of Alapan in Imus, Cavite, on May 28, 1898.
\nThe Battle of Alapan resulted in Filipino revolutionaries winning a major battle against Spanish forces, capturing close to 300 troops. After the victory, Gen. Emilio Aguinaldo first unfurled and hoisted the Philippine Flag at Teatro Cavite\u00f1o at the present-day Cavite.
\nThe flag he waved there was sewn in Hong Kong by Marcela Agoncillo, the so-called \u201cMother of the Philippine Flag,\u201d and her daughter, with the help of Delfina Herbosa de Natividad, the niece of Jos\u00e9 Rizal.
\nBookending the National Flag Days is June 12, 1898, when the Philippine flag was waved following the formal proclamation of independence at the ancestral home of Mr. Aguinaldo in Kawit, Cavite.
\nThe Proclamation of Philippine Independence stated the flag\u2019s original symbolism: \u201cthe three aforementioned forces representing the white triangle as the distinctive symbol of the famed Society of the Katipunan, which through the blood compact impelled the masses to rise in revolt; the three stars representing the three principal islands of this Archipelago \u2014 Luzon, Mindanao, and Panay (Visayas) in which the revolutionary movement broke out; the sun indicating the gigantic steps taken by the children of this country on the road to progress and civilization; the eight rays symbolizing the eight provinces of the Philippines; and the colors of blue, red and white commemorating the flag of the United States of North America as a manifestation of our profound gratitude towards this Great Nation for its disinterested protection which it lends us, and continues to lend us.\u201d
\nAt present, the white equilateral triangle symbolizes liberty, equality, and fraternity. The horizontal blue stripe stands for peace, truth, and justice; while the horizontal red stripe symbolizes patriotism and valor.
\nThe golden sun at the center of the white triangle symbolizes unity, freedom, people\u2019s democracy, and sovereignty. The eight rays, meanwhile, have been found to symbolize the first eight provinces of the Philippines which was declared under Martial Law during the Philippine Revolution; namely Batangas, Bulacan, Cavite, Manila, Laguna, Nueva Ecija, Pampanga and Tarlac.
\nThroughout the National Flag Days, all Filipinos are encouraged to display the Philippine flag in all offices, agencies and instruments of government, business establishments, schools, and private homes.
\nA statement by then Presidential Spokesperson Edwin Lacierda on the National Flag Days back in 2011 even gave a fresh reminder of the significance of honoring our flag.
\n\u201cMay our flag be a symbol that unites us as a people moving toward progress. It is time we recognize this, and build a nation that every Filipino deserves,\u201d the statement read. \u2014 Adrian Paul B. Conoza
\n", "content_text": "Aside from reminiscences of the nation\u2019s journey toward freedom, Philippine Independence Day often brings to mind one of the important emblems that has served as a reminder of our national identity and the history and heritage that have nurtured such identity \u2014 our National Flag.\nWhile our National Flag Day is observed on May 28, as declared by Presidential Proclamation No. 374 on March 6, 1965, the celebration of the said day extends until June 12, as ordered by Executive Order No. 179 on May 23, 1994.\nExecutive Order No. 179, which was signed by Former President Fidel V. Ramos, recognized that the period spanning the commemoration of the National Flag Day and Independence Day is an \u201copportune time for all Filipinos to collectively reflect on the significance of the National Flag.\u201d\nFurthermore, as Proclamation No. 374 signed by Former President Diosdado Macapagal stressed, the National Flag \u201cis the consecrated repository of our ideals and traditions and the historic symbol of our nation as a sovereign people,\u201d and so the National Flag Day seeks to address the \u201cneed of instilling and perpetuating in the minds and hearts of the citizenry greater honor, respect and reverence for our flag.\u201d\nThe National Flag Day recognizes the significant day when the Philippine flag was first unfurled and \u201creceived its baptism of fire and victory,\u201d as Presidential Proclamation No. 374 puts it, in the Battle of Alapan in Imus, Cavite, on May 28, 1898.\nThe Battle of Alapan resulted in Filipino revolutionaries winning a major battle against Spanish forces, capturing close to 300 troops. After the victory, Gen. Emilio Aguinaldo first unfurled and hoisted the Philippine Flag at Teatro Cavite\u00f1o at the present-day Cavite.\nThe flag he waved there was sewn in Hong Kong by Marcela Agoncillo, the so-called \u201cMother of the Philippine Flag,\u201d and her daughter, with the help of Delfina Herbosa de Natividad, the niece of Jos\u00e9 Rizal.\nBookending the National Flag Days is June 12, 1898, when the Philippine flag was waved following the formal proclamation of independence at the ancestral home of Mr. Aguinaldo in Kawit, Cavite.\nThe Proclamation of Philippine Independence stated the flag\u2019s original symbolism: \u201cthe three aforementioned forces representing the white triangle as the distinctive symbol of the famed Society of the Katipunan, which through the blood compact impelled the masses to rise in revolt; the three stars representing the three principal islands of this Archipelago \u2014 Luzon, Mindanao, and Panay (Visayas) in which the revolutionary movement broke out; the sun indicating the gigantic steps taken by the children of this country on the road to progress and civilization; the eight rays symbolizing the eight provinces of the Philippines; and the colors of blue, red and white commemorating the flag of the United States of North America as a manifestation of our profound gratitude towards this Great Nation for its disinterested protection which it lends us, and continues to lend us.\u201d\nAt present, the white equilateral triangle symbolizes liberty, equality, and fraternity. The horizontal blue stripe stands for peace, truth, and justice; while the horizontal red stripe symbolizes patriotism and valor.\nThe golden sun at the center of the white triangle symbolizes unity, freedom, people\u2019s democracy, and sovereignty. The eight rays, meanwhile, have been found to symbolize the first eight provinces of the Philippines which was declared under Martial Law during the Philippine Revolution; namely Batangas, Bulacan, Cavite, Manila, Laguna, Nueva Ecija, Pampanga and Tarlac.\nThroughout the National Flag Days, all Filipinos are encouraged to display the Philippine flag in all offices, agencies and instruments of government, business establishments, schools, and private homes.\nA statement by then Presidential Spokesperson Edwin Lacierda on the National Flag Days back in 2011 even gave a fresh reminder of the significance of honoring our flag.\n\u201cMay our flag be a symbol that unites us as a people moving toward progress. It is time we recognize this, and build a nation that every Filipino deserves,\u201d the statement read. \u2014 Adrian Paul B. Conoza", "date_published": "2023-06-12T08:55:32+08:00", "date_modified": "2023-06-13T10:33:28+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/06/SF_luneta-park-4872492_1280-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "freedom", "Independence Day", "National Flag", "Special Features" ] }, { "id": "/?p=491236", "url": "/sparkup/2022/12/05/491236/more-opportunities-for-filipinos-seen-in-web3/", "title": "More opportunities for Filipinos seen in Web3", "content_html": "Web3, considered the next, decentralized form of the World Wide Web powered by blockchains, cryptocurrencies, and non-fungible tokens (NFTs), is giving way to the emergence of a new kind of profession and a new kind of business model in the Philippines, executives from Web3- and blockchain-based startups said.
\nGabby Dizon, co-founder of play-to-earn (P2E) gaming guild Yield Guild Games (YGG), observed that as Web3 has given Filipinos new income opportunities by allowing them \u201cto own a piece of the online economy\u201d \u2014 as exemplified by owning an NFT in popular P2E game Axie Infinity \u2014 Web3 is initially driving the rise of what he calls the \u201cmetaverse Filipino worker\u201d (MFW).
\n\u201cWhat we\u2019ve seen in opportunities with Web3, NFTs, and games like Axie, people can go into these virtual worlds, be a top player, a scholar manager, or even a content creator. Basically, you can find a way to earn a living there [in the metaverse] and help sustain your family without having to be physically separated from them,\u201d Mr. Dizon explained during the Philippine Web3 Festival held earlier in November.
\nThe Web3 space is also seen bringing a new, digitally-native business model in the form of gaming guilds.
\nPeter Ing, chief executive officer of BlockchainSpace, a one-stop shop for gaming guild needs, said that guilds have emerged like cooperatives, with members navigating a new industry and trying to monetize and generate revenue together.
\n\u201cWe realized that over 20,000 of those micro-communities suddenly came together… [Their numbers are] usually anywhere between 50 to 100 people online; but in person, they might only be five to 10 people running that. And we realized that these people were running their own businesses. They held these assets, rented them, leased them to someone else, and at the end of the month, they [get their share]. And now they\u2019re looking for more business opportunities,\u201d Mr. Ing said during a press conference prior to the Web3 Festival.
\n\u201cWe\u2019ve already seen version 1 of the business model, and I think there\u2019s going to be a lot more business models coming out. We\u2019ll definitely see these skills as the new business model for the new digital economy,\u201d he added.
\nPhilippine startups
\nMr. Dizon also observed that the Philippine startup scene has largely contributed to the growth of the Web3 space.
\nHe said that after YGG started and was able to raise funding from international investors, other startups emerged, such as BlockchainSpace and BreederDAO, a startup specializing in breeding and crafting NFT characters and game items to be used in P2E games.
\n\u201cWhat\u2019s exciting, not just on the usage front, is that a lot of talented Filipino entrepreneurs who might have been employees of growth-scale startups… are now striking out, becoming founders of their own, getting VC (venture capital) funding, and basically competing with the best in the world in Web3,\u201d Mr. Dizon added during the aforementioned press conference.
\nSuch talents are given a great opportunity to propel their startups to further grow the Web3 space, he continued.
\n\u201cThey now have a much larger opportunity because the funding is open. You can get VC funding from anyone around the world, including the best VCs like Andreessen Horowitz, for example; and this is open to anyone who has a good idea and can refine it into a pitch and gain traction,\u201d Mr. Dizon explained.
\nMr. Ing said the future looks optimistic for Web3 the Philippines, and the rest of the world is watching.
\n\u201cEducation and regulation are important aspects of Web3 adoption in the Philippines. Education erases the stigma, enables Filipinos to understand what they are getting into, and builds on that community that they have surrounded themselves with. Regulation, on the other hand, legitimizes the players in the Web3 space. It is a good thing that government institutions here in the Philippines are very open-minded and forward-thinking when it comes to innovations like Web3,\u201d he said.
\nHeld last Nov. 14-18 in Bonifacio Global City, Taguig, the Philippine Web3 Festival, gathered global leaders from the world of cryptocurrency and Web3 to discuss the future of Web3 and learn from Filipino founders, investors, artists, content creators, and blockchain gamers on how they are advancing the industry in the country. \u2014 Adrian Paul B. Conoza
\n", "content_text": "New income stream for \u2018MFWs,\u2019 growth areas for startups\nWeb3, considered the next, decentralized form of the World Wide Web powered by blockchains, cryptocurrencies, and non-fungible tokens (NFTs), is giving way to the emergence of a new kind of profession and a new kind of business model in the Philippines, executives from Web3- and blockchain-based startups said.\nGabby Dizon, co-founder of play-to-earn (P2E) gaming guild Yield Guild Games (YGG), observed that as Web3 has given Filipinos new income opportunities by allowing them \u201cto own a piece of the online economy\u201d \u2014 as exemplified by owning an NFT in popular P2E game Axie Infinity \u2014 Web3 is initially driving the rise of what he calls the \u201cmetaverse Filipino worker\u201d (MFW).\n\u201cWhat we\u2019ve seen in opportunities with Web3, NFTs, and games like Axie, people can go into these virtual worlds, be a top player, a scholar manager, or even a content creator. Basically, you can find a way to earn a living there [in the metaverse] and help sustain your family without having to be physically separated from them,\u201d Mr. Dizon explained during the Philippine Web3 Festival held earlier in November.\nThe Web3 space is also seen bringing a new, digitally-native business model in the form of gaming guilds.\nPeter Ing, chief executive officer of BlockchainSpace, a one-stop shop for gaming guild needs, said that guilds have emerged like cooperatives, with members navigating a new industry and trying to monetize and generate revenue together.\n\u201cWe realized that over 20,000 of those micro-communities suddenly came together… [Their numbers are] usually anywhere between 50 to 100 people online; but in person, they might only be five to 10 people running that. And we realized that these people were running their own businesses. They held these assets, rented them, leased them to someone else, and at the end of the month, they [get their share]. And now they\u2019re looking for more business opportunities,\u201d Mr. Ing said during a press conference prior to the Web3 Festival.\n\u201cWe\u2019ve already seen version 1 of the business model, and I think there\u2019s going to be a lot more business models coming out. We\u2019ll definitely see these skills as the new business model for the new digital economy,\u201d he added.\nPhilippine startups\nMr. Dizon also observed that the Philippine startup scene has largely contributed to the growth of the Web3 space.\nHe said that after YGG started and was able to raise funding from international investors, other startups emerged, such as BlockchainSpace and BreederDAO, a startup specializing in breeding and crafting NFT characters and game items to be used in P2E games.\n\u201cWhat\u2019s exciting, not just on the usage front, is that a lot of talented Filipino entrepreneurs who might have been employees of growth-scale startups… are now striking out, becoming founders of their own, getting VC (venture capital) funding, and basically competing with the best in the world in Web3,\u201d Mr. Dizon added during the aforementioned press conference.\nSuch talents are given a great opportunity to propel their startups to further grow the Web3 space, he continued.\n\u201cThey now have a much larger opportunity because the funding is open. You can get VC funding from anyone around the world, including the best VCs like Andreessen Horowitz, for example; and this is open to anyone who has a good idea and can refine it into a pitch and gain traction,\u201d Mr. Dizon explained.\nMr. Ing said the future looks optimistic for Web3 the Philippines, and the rest of the world is watching.\n\u201cEducation and regulation are important aspects of Web3 adoption in the Philippines. Education erases the stigma, enables Filipinos to understand what they are getting into, and builds on that community that they have surrounded themselves with. Regulation, on the other hand, legitimizes the players in the Web3 space. It is a good thing that government institutions here in the Philippines are very open-minded and forward-thinking when it comes to innovations like Web3,\u201d he said.\nHeld last Nov. 14-18 in Bonifacio Global City, Taguig, the Philippine Web3 Festival, gathered global leaders from the world of cryptocurrency and Web3 to discuss the future of Web3 and learn from Filipino founders, investors, artists, content creators, and blockchain gamers on how they are advancing the industry in the country. \u2014 Adrian Paul B. Conoza", "date_published": "2022-12-05T08:55:50+08:00", "date_modified": "2022-12-06T11:46:55+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/12/SU_R1-photo-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "blockchains", "cryptocurrencies", "metaverse Filipino worker", "MFW", "NFTs", "non-fungible tokens", "P2E", "play-to-earn", "startups", "Web3", "Yield Guild Games", "SparkUp" ] }, { "id": "/?p=489812", "url": "/special-features/2022/11/14/489812/closing-the-gaps-in-philippine-housing/", "title": "Closing the gaps in Philippine housing", "content_html": "The persistent housing backlog in the Philippines might expand in the following years, if left unaddressed, calling for both government and the private sector to ramp up their efforts in closing the gap.
\n\n
According to the Department of Human Settlements and Urban Development (DHSUD), the housing backlog is estimated at 6.5 million homes. This number is actually what was reflected in 2030 projections shared by the Board of Investments, assuming that production of housing units would average 200,000 units every year from 2012 to 2030.
\nFrom 2021 to June 2022, the DHSUD reportedly produced 294,142 housing units.
\nIn a previous finance committee hearing at the Senate, DHSUD Assistant Secretary Avelino Tolentino III said that if housing production continues \u201cbusiness as usual,\u201d the backlog might end up rising to 10.9 million by the end of the current administration.
\nRecognizing such alarming occurrences, a new housing production target has been set for the next six years.
\nUnder the \u201cPambansang Pabahay Para sa Pilipino\u201d program, DHSUD is given a directive to work towards clearing up the backlog by building one million houses, particularly affordable and accessible ones in selected areas every year, until the President completes his term.
\nAs 大象传媒 reported about the announcement of this program last October, the housing program will require P1 trillion to realize at a cost of P1 million per home, which will need to be subsidized.
\nAn annual subsidy budget of P36 billion is proposed to cover the difference between commercial mortgage rates and the expected preferential interest for home buyers of one percent.
\n\u201cThe intention is to bring interest rates to 1%, so that\u2019s where the interest subsidy will come in. The market rate that we\u2019re looking at for this marginalized sector is 6%,\u201d Human Settlements Undersecretary Roberto Juanchito T. Dispo was quoted as saying.
\nMoreover, Human Settlements Undersecretary Henry L. Yap said the DHSUD wants to tap the private sector, particularly banks, to participate in the program.
\n\u201cWe\u2019ve been going around talking to the developers. They have expressed their support for this project. The SHDA (Subdivision and Housing Developers Association) is one of the housing organizations that we\u2019ve been meeting with and many of them have expressed support,\u201d Mr. Yap was also quoted as saying.
\nThe department added that the \u201cPambansang Pabahay\u201d program can trigger economic activities in 80 allied industries of the housing sector once it goes full blast in the construction.
\n\u201cAmong the top 10 out of 80 industries that could benefit from the housing program once fully implemented include steel and metal manufacturing, cement, veneer and plywood, refine petroleum producers, sawmills and wood and wholesale/retail businesses,\u201d the DHSUD said in a statement.
\nThe program is also seen as a means for the Philippine real estate sector to further recover from the coronavirus pandemic, when community quarantines and other restrictions slowed down construction and other development projects.
\n\u201cThis program will be a big market for private developers as we will be building one million housing units a year in the next six years\u2026 this will trigger much-needed economic activities in the sector and propel its recovery from the adverse effects of the pandemic,\u201d DHSUD Secretary Jose Rizalino L. Acuzar said in a separate statement.
\nMeanwhile, for the private sector, the need to make getting permits easier is seen as key to developers\u2019 participation in an intensified drive to clear the backlog.
\nIn another 大象传媒 report, 8990 Holdings Chairman and Co-founder Mariano D. Martinez said that the government has to support the private sector as well, especially by cutting the length of permitting processes \u2014 which he finds as \u201cone of the hardest hurdles or longest hurdles\u201d in housing production \u2014 from 24 months to six months.
\n\u201c[I]f they want to achieve a million houses that should really [be a] number one [priority],\u201d Mr. Martinez as quoted as saying.
\nAs part of the housing program, DHSUD recently broke ground for housing projects in the cities of Iloilo, Bacolod, and Roxas in Western Visayas. The units are said to be used for the relocation of informal settlers and offered to low-income families in the said cities. \u2014 Adrian Paul B. Conoza
\n", "content_text": "The persistent housing backlog in the Philippines might expand in the following years, if left unaddressed, calling for both government and the private sector to ramp up their efforts in closing the gap.\n\nAccording to the Department of Human Settlements and Urban Development (DHSUD), the housing backlog is estimated at 6.5 million homes. This number is actually what was reflected in 2030 projections shared by the Board of Investments, assuming that production of housing units would average 200,000 units every year from 2012 to 2030. \nFrom 2021 to June 2022, the DHSUD reportedly produced 294,142 housing units.\nIn a previous finance committee hearing at the Senate, DHSUD Assistant Secretary Avelino Tolentino III said that if housing production continues \u201cbusiness as usual,\u201d the backlog might end up rising to 10.9 million by the end of the current administration.\nRecognizing such alarming occurrences, a new housing production target has been set for the next six years.\nUnder the \u201cPambansang Pabahay Para sa Pilipino\u201d program, DHSUD is given a directive to work towards clearing up the backlog by building one million houses, particularly affordable and accessible ones in selected areas every year, until the President completes his term.\nAs 大象传媒 reported about the announcement of this program last October, the housing program will require P1 trillion to realize at a cost of P1 million per home, which will need to be subsidized.\nAn annual subsidy budget of P36 billion is proposed to cover the difference between commercial mortgage rates and the expected preferential interest for home buyers of one percent.\n\u201cThe intention is to bring interest rates to 1%, so that\u2019s where the interest subsidy will come in. The market rate that we\u2019re looking at for this marginalized sector is 6%,\u201d Human Settlements Undersecretary Roberto Juanchito T. Dispo was quoted as saying.\nMoreover, Human Settlements Undersecretary Henry L. Yap said the DHSUD wants to tap the private sector, particularly banks, to participate in the program.\n\u201cWe\u2019ve been going around talking to the developers. They have expressed their support for this project. The SHDA (Subdivision and Housing Developers Association) is one of the housing organizations that we\u2019ve been meeting with and many of them have expressed support,\u201d Mr. Yap was also quoted as saying.\nThe department added that the \u201cPambansang Pabahay\u201d program can trigger economic activities in 80 allied industries of the housing sector once it goes full blast in the construction. \n\u201cAmong the top 10 out of 80 industries that could benefit from the housing program once fully implemented include steel and metal manufacturing, cement, veneer and plywood, refine petroleum producers, sawmills and wood and wholesale/retail businesses,\u201d the DHSUD said in a statement.\nThe program is also seen as a means for the Philippine real estate sector to further recover from the coronavirus pandemic, when community quarantines and other restrictions slowed down construction and other development projects.\n\u201cThis program will be a big market for private developers as we will be building one million housing units a year in the next six years\u2026 this will trigger much-needed economic activities in the sector and propel its recovery from the adverse effects of the pandemic,\u201d DHSUD Secretary Jose Rizalino L. Acuzar said in a separate statement.\nMeanwhile, for the private sector, the need to make getting permits easier is seen as key to developers\u2019 participation in an intensified drive to clear the backlog.\nIn another 大象传媒 report, 8990 Holdings Chairman and Co-founder Mariano D. Martinez said that the government has to support the private sector as well, especially by cutting the length of permitting processes \u2014 which he finds as \u201cone of the hardest hurdles or longest hurdles\u201d in housing production \u2014 from 24 months to six months.\n\u201c[I]f they want to achieve a million houses that should really [be a] number one [priority],\u201d Mr. Martinez as quoted as saying.\nAs part of the housing program, DHSUD recently broke ground for housing projects in the cities of Iloilo, Bacolod, and Roxas in Western Visayas. The units are said to be used for the relocation of informal settlers and offered to low-income families in the said cities. \u2014 Adrian Paul B. Conoza", "date_published": "2022-11-14T09:00:18+08:00", "date_modified": "2022-11-28T15:11:19+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/11/SF_housebuilding-g8a85384ae_1920-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "housing", "housing backlog", "Special Features" ] }, { "id": "/?p=489793", "url": "/special-features/2022/10/24/489793/awareness-and-a-rising-need-for-improved-breast-cancer-screening/", "title": "Awareness and a rising need for improved breast cancer screening", "content_html": "This October, the global community once again observes Breast Cancer Awareness Month, also known as Pink October, at these times when the need for expanded awareness and wider access to screening for and treating breast cancer is sought.
\nBreast cancer is a type of cancer where cells in the breast multiply abnormally. It can be detected through self-breast examination and screening.
\nWhile men can get diagnosed with breast cancer, the disease is more common in women. According to the Philippine Cancer Society (PCS), the following risk factors contributing to breast cancer include among others, age (higher incidence at a higher age), genetic risk factors, family history, not having children or having them later in life; as well as lifestyle factors such as alcohol, being overweight or obese, and exercise.
\nAccording to the International Agency for Research on Cancer (IARC), breast cancer became the most commonly diagnosed cancer type in the world in 2020. Breast cancer was also found to be the most common cause of cancer death in women, and the fifth most common cause of cancer death overall.
\nDuring the said year, IARC found that about 2.26 million women were diagnosed with breast cancer, and about 685,000 women died from the disease.
\nHere in the Philippines, breast cancer is the most common type of cancer in women, according to the Department of Health (DoH).
\nAs noted by a study by the Philippine Statistics Agency (PSA) in 2019, the Philippine Society of Medical Oncology (PSMO) reported that three out of 100 Filipino women are estimated to develop breast cancer before the age of 75. It was also noted that breast cancer accounts for 15% of all new cancer cases and 8% of all cancer deaths in the country.
\nIn addition, the Philippine Obstetrical and Gynecological Society found that the Philippines had the highest prevalence of breast cancer among 197 countries in 2017. World Health Organization (WHO), in its Cancer Country Profile 2020, said that breast cancer is considered the most common type of cancer in the Philippines and has the highest incidence rate of 17.6%.
\n\u200bThese figures just show how crucial it is for women to self-examine and then get screened for breast cancer and so get treated upon detection of the disease.
\nAccording to the United Kingdom-based organization Breast Cancer Now, self-examination can be done in three steps: touching one\u2019s breasts for feeling anything unusual, looking for changes in appearance, and checking for any changes with a general practitioner. On its website, our very own PCS has a guide on how to self-examine the breasts for any symptoms.
\nThe WHO affirms that early detection of breast cancer affects survival rates, and when the disease is identified early the treatment can be more highly effective.
\nHowever, access to breast cancer screening and treatment is found to be not uniformly high globally, which means that survival from breast cancer gets compromised in some countries or regions.
\n\u201cThere are substantial disparities in survival between more-developed and less-developed countries, as well as between different social groups within countries. These disparities are due in part to reduced access to early diagnosis and timely completion of treatment,\u201d the IARC, which is part of WHO, explained in a statement on its website.
\nA study recently published in the journal Preventive Medicine Reports in October highlighted the current challenges in screening breast and cervical cancers in the Philippines.
\nThe study highlighted that most Filipino breast and cervical cancer patients are diagnosed with late-stage disease, and several factors have contributed to these late diagnoses.
\n\u201c[M]ajority of breast and cervical cancer patients are diagnosed at advanced stages, as high out-of-pocket healthcare costs, the centralization of health human resources and infrastructure in the capital, and the absence of organized national screening programs preclude access to breast and cervical cancer screening,\u201d the study noted.
\nSociocultural factors also contribute to low screening uptake for women\u2019s cancers, the study recalled. Such factors include poor knowledge of cancer screening, fatalistic attitudes toward cancer, and stigma associated with a cancer diagnosis, such as the perception that mammography is a painful experience.
\nThe authors of the study found that the passage of the Universal Health Care Law and the National Integrated Cancer Control Act provides an opportunity to reduce disparities in access to cancer screening.
\n\u201cThis begins with investing in organized cancer screening programs, collaborating with multiple stakeholders on community-based educational campaigns, and addressing the social determinants that underlie women\u2019s cancers,\u201d the authors wrote.
\nSeveral brands, hospitals, and institutions are observing Breast Cancer Awareness Month through various promos, deals, and other initiatives. The PSMO, for its part, has begun its online breast cancer education this month. Its Abot Kamay Ako at Ang PSMO (AKAP) program currently offers free breast cancer education for patients, caregivers, patient support, and cancer advocates. Those interested in availing of this free learning program can visit https://psmo.org.ph/psmo-online-payments/lay-breast-cancer-101-online-registration/. \u2014 Adrian Paul B. Conoza
\n", "content_text": "This October, the global community once again observes Breast Cancer Awareness Month, also known as Pink October, at these times when the need for expanded awareness and wider access to screening for and treating breast cancer is sought.\nBreast cancer is a type of cancer where cells in the breast multiply abnormally. It can be detected through self-breast examination and screening. \nWhile men can get diagnosed with breast cancer, the disease is more common in women. According to the Philippine Cancer Society (PCS), the following risk factors contributing to breast cancer include among others, age (higher incidence at a higher age), genetic risk factors, family history, not having children or having them later in life; as well as lifestyle factors such as alcohol, being overweight or obese, and exercise.\nAccording to the International Agency for Research on Cancer (IARC), breast cancer became the most commonly diagnosed cancer type in the world in 2020. Breast cancer was also found to be the most common cause of cancer death in women, and the fifth most common cause of cancer death overall.\nDuring the said year, IARC found that about 2.26 million women were diagnosed with breast cancer, and about 685,000 women died from the disease.\nHere in the Philippines, breast cancer is the most common type of cancer in women, according to the Department of Health (DoH). \nAs noted by a study by the Philippine Statistics Agency (PSA) in 2019, the Philippine Society of Medical Oncology (PSMO) reported that three out of 100 Filipino women are estimated to develop breast cancer before the age of 75. It was also noted that breast cancer accounts for 15% of all new cancer cases and 8% of all cancer deaths in the country.\nIn addition, the Philippine Obstetrical and Gynecological Society found that the Philippines had the highest prevalence of breast cancer among 197 countries in 2017. World Health Organization (WHO), in its Cancer Country Profile 2020, said that breast cancer is considered the most common type of cancer in the Philippines and has the highest incidence rate of 17.6%.\n\u200bThese figures just show how crucial it is for women to self-examine and then get screened for breast cancer and so get treated upon detection of the disease. \nAccording to the United Kingdom-based organization Breast Cancer Now, self-examination can be done in three steps: touching one\u2019s breasts for feeling anything unusual, looking for changes in appearance, and checking for any changes with a general practitioner. On its website, our very own PCS has a guide on how to self-examine the breasts for any symptoms.\nThe WHO affirms that early detection of breast cancer affects survival rates, and when the disease is identified early the treatment can be more highly effective.\nHowever, access to breast cancer screening and treatment is found to be not uniformly high globally, which means that survival from breast cancer gets compromised in some countries or regions.\n\u201cThere are substantial disparities in survival between more-developed and less-developed countries, as well as between different social groups within countries. These disparities are due in part to reduced access to early diagnosis and timely completion of treatment,\u201d the IARC, which is part of WHO, explained in a statement on its website.\nA study recently published in the journal Preventive Medicine Reports in October highlighted the current challenges in screening breast and cervical cancers in the Philippines.\nThe study highlighted that most Filipino breast and cervical cancer patients are diagnosed with late-stage disease, and several factors have contributed to these late diagnoses.\n\u201c[M]ajority of breast and cervical cancer patients are diagnosed at advanced stages, as high out-of-pocket healthcare costs, the centralization of health human resources and infrastructure in the capital, and the absence of organized national screening programs preclude access to breast and cervical cancer screening,\u201d the study noted.\nSociocultural factors also contribute to low screening uptake for women\u2019s cancers, the study recalled. Such factors include poor knowledge of cancer screening, fatalistic attitudes toward cancer, and stigma associated with a cancer diagnosis, such as the perception that mammography is a painful experience.\nThe authors of the study found that the passage of the Universal Health Care Law and the National Integrated Cancer Control Act provides an opportunity to reduce disparities in access to cancer screening.\n\u201cThis begins with investing in organized cancer screening programs, collaborating with multiple stakeholders on community-based educational campaigns, and addressing the social determinants that underlie women\u2019s cancers,\u201d the authors wrote.\nSeveral brands, hospitals, and institutions are observing Breast Cancer Awareness Month through various promos, deals, and other initiatives. The PSMO, for its part, has begun its online breast cancer education this month. Its Abot Kamay Ako at Ang PSMO (AKAP) program currently offers free breast cancer education for patients, caregivers, patient support, and cancer advocates. Those interested in availing of this free learning program can visit https://psmo.org.ph/psmo-online-payments/lay-breast-cancer-101-online-registration/. \u2014 Adrian Paul B. Conoza", "date_published": "2022-10-24T09:00:59+08:00", "date_modified": "2022-11-28T14:48:19+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/11/SF_Main-BCAM-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "breast cancer", "breast cancer awareness month", "Pink October", "Special Features" ] }, { "id": "/?p=489779", "url": "/special-features/2022/10/19/489779/48th-pbce-returns-on-site-tackles-sustaining-phls-post-lockdown-growth/", "title": "48th PBC&E returns on-site, tackles sustaining PHL\u2019s post-lockdown growth", "content_html": "One of the most-awaited gatherings of the Philippine business community is returning today with an agenda of pushing the country further forward as it opens for business and builds on the progress achieved in the past years amid the disruption brought by the coronavirus pandemic.
\nThe 48th Philippine Business Conference & Expo (PBC&E) is happening today (Oct. 19) until tomorrow (Oct. 20) at the Grand Ballroom, The Manila Hotel, with the government\u2019s top executives and economic managers, as well as business leaders from here and overseas coming together to once again exchange ideas on current issues and business opportunities.
\nThis year\u2019s conference is highlighted by the attendance of President Ferdinand R. Marcos, Jr. and Vice-President Sara Z. Duterte as they are expected to address the Philippine business community.
\nMr. Marcos and Ms. Duterte will serve as the concluding and opening guests of honor and speakers, respectively, in what is set to be the biggest business face-to-face gathering in the country after two years of grappling with the pandemic.
\nPhilippine Chamber of Commerce and Industry (PCCI) President George T. Barcelon said that the chamber, the organizer of the two-day business summit, is honored and extremely delighted to receive the President\u2019s confirmation to attend the conference.
\n\u201cAs we speak, we are now in full capacity and we are trying to find ways to accommodate those on the waitlist,\u201d Mr. Barcelon said, adding that PBC delegates will be coming from across the country and overseas.
\nThe PCCI president also said that the chamber has also organized a huge batch of business delegations from countries like the United States of America (USA), Sri Lanka, Pakistan, and Japan to attend the conference.
\nForeign delegates attending the conference are set to explore business opportunities and joint ventures in a business-to-business session with Filipino businessmen.
\nThis year\u2019s conference carries the theme \u201cThe Philippines is ready and open for business,\u201d which PCCI finds a very timely theme befitting the chamber\u2019s vision to be the \u201cVoice of Business.\u201d
\n\u201cWe have been consistent in our position to fully open up our economy because we need to get back on track to sustain our growth momentum,\u201d Mr. Barcelon added about this year\u2019s theme.
\nWith the said theme, the 48th PBC&E will be looking at how the new government will build on the previous administration\u2019s reform measures to make a real difference to the economy going forward.
\nIn a media briefing last Oct. 12, Ferdinand A. Ferrer, the chair of this year\u2019s PBC&E, recalled the previous administration has laid down the groundwork to attract more foreign direct investment with the amendment of important legislation such as the Public Service Act, the Foreign Investment Act, and the Retail Trade Liberalization Act. The Ease of Doing Business Act and the Corporate Recovery and Tax Incentives for Enterprises Act, meanwhile, are likewise seen to support the expansion of domestic enterprises and recovery from two years of lost opportunities.
\n\u201cWe have a roster of highly renowned speakers and experts from both the government and business sectors to share insights and strategies on how we can sustain our growth momentum and, eventually, achieve the country\u2019s vision of Ambisyon 2040 where Filipinos enjoy a stable and comfortable life,\u201d Mr. Ferrer said.
\nThe 48th PBC&E will start with the opening keynote message from Vice-President Duterte. Then, to set the tone of the conference, Finance Secretary Benjamin E. Diokno will deliver a keynote presentation, followed by a fireside chat with Socioeconomic Planning Secretary Arsenio M. Balisacan of the National Economic and Development Authority.
\nThe conference will also have interesting discussions with some of the country\u2019s top executives to highlight the business prospects under the new administration and the priorities moving forward.
\nThe conference will also have a session with US Ambassador Marykay Carlson and Chinese Ambassador Huang Xilian on building strategic alliances to create new markets and attract more investments.
\nThe closing ceremony will feature the presentation of Resolutions to the President, as well as the awarding of the Most Outstanding Local Government Unit, Most Outstanding Chamber, and the 47th PBC Chairman.
\nThe resolutions to be presented to President Marcos, Jr. during the conference cover a wide range of issues, such as achieving food security, transparent and affordable health care, employment generation, globally-competitive education and training standards, strengthened national security, reliable and competitive digitalization, climate change resilient and environmental-friendly policies, affordable power, safe and efficient transportation, and an outward and forward-looking trade policy.
\n\u201cThe set of resolutions capture the collective aspirations and expectations of the Philippine business community to the new administration as it steers the direction of the Philippine economy rebounding from the pandemic,\u201d Mr. Ferrer said.
\nMr. Ferrer is the chairman and chief executive officer of Gruppo EMS Inc., a company engaged in providing semiconductor engineering and electronic assembly services in the country and overseas.
\nKnown to many as \u201cPerry,\u201d Mr. Ferrer returned to the Philippines after 22 years of being assigned in the Military & Aerospace Electronics in various foreign countries like the USA, Canada, Europe, and China.
\nMr. Ferrer graduated Bachelor of Science in Marketing Management from the De La Salle University, Philippines. \u2014 Adrian Paul B. Conoza
\n", "content_text": "One of the most-awaited gatherings of the Philippine business community is returning today with an agenda of pushing the country further forward as it opens for business and builds on the progress achieved in the past years amid the disruption brought by the coronavirus pandemic.\nThe 48th Philippine Business Conference & Expo (PBC&E) is happening today (Oct. 19) until tomorrow (Oct. 20) at the Grand Ballroom, The Manila Hotel, with the government\u2019s top executives and economic managers, as well as business leaders from here and overseas coming together to once again exchange ideas on current issues and business opportunities.\nThis year\u2019s conference is highlighted by the attendance of President Ferdinand R. Marcos, Jr. and Vice-President Sara Z. Duterte as they are expected to address the Philippine business community.\nMr. Marcos and Ms. Duterte will serve as the concluding and opening guests of honor and speakers, respectively, in what is set to be the biggest business face-to-face gathering in the country after two years of grappling with the pandemic.\nPhilippine Chamber of Commerce and Industry (PCCI) President George T. Barcelon said that the chamber, the organizer of the two-day business summit, is honored and extremely delighted to receive the President\u2019s confirmation to attend the conference.\n\u201cAs we speak, we are now in full capacity and we are trying to find ways to accommodate those on the waitlist,\u201d Mr. Barcelon said, adding that PBC delegates will be coming from across the country and overseas.\nThe PCCI president also said that the chamber has also organized a huge batch of business delegations from countries like the United States of America (USA), Sri Lanka, Pakistan, and Japan to attend the conference.\nForeign delegates attending the conference are set to explore business opportunities and joint ventures in a business-to-business session with Filipino businessmen.\nThis year\u2019s conference carries the theme \u201cThe Philippines is ready and open for business,\u201d which PCCI finds a very timely theme befitting the chamber\u2019s vision to be the \u201cVoice of Business.\u201d\n\u201cWe have been consistent in our position to fully open up our economy because we need to get back on track to sustain our growth momentum,\u201d Mr. Barcelon added about this year\u2019s theme.\nWith the said theme, the 48th PBC&E will be looking at how the new government will build on the previous administration\u2019s reform measures to make a real difference to the economy going forward.\n(L-R) Philippine Chamber of Commerce and Industry President George T. Barcelon and Philippine Business Conference & Expo Chairman Ferdinand A. Ferrer\nIn a media briefing last Oct. 12, Ferdinand A. Ferrer, the chair of this year\u2019s PBC&E, recalled the previous administration has laid down the groundwork to attract more foreign direct investment with the amendment of important legislation such as the Public Service Act, the Foreign Investment Act, and the Retail Trade Liberalization Act. The Ease of Doing Business Act and the Corporate Recovery and Tax Incentives for Enterprises Act, meanwhile, are likewise seen to support the expansion of domestic enterprises and recovery from two years of lost opportunities. \n\u201cWe have a roster of highly renowned speakers and experts from both the government and business sectors to share insights and strategies on how we can sustain our growth momentum and, eventually, achieve the country\u2019s vision of Ambisyon 2040 where Filipinos enjoy a stable and comfortable life,\u201d Mr. Ferrer said.\nThe 48th PBC&E will start with the opening keynote message from Vice-President Duterte. Then, to set the tone of the conference, Finance Secretary Benjamin E. Diokno will deliver a keynote presentation, followed by a fireside chat with Socioeconomic Planning Secretary Arsenio M. Balisacan of the National Economic and Development Authority. \nThe conference will also have interesting discussions with some of the country\u2019s top executives to highlight the business prospects under the new administration and the priorities moving forward.\nThe conference will also have a session with US Ambassador Marykay Carlson and Chinese Ambassador Huang Xilian on building strategic alliances to create new markets and attract more investments.\nThe closing ceremony will feature the presentation of Resolutions to the President, as well as the awarding of the Most Outstanding Local Government Unit, Most Outstanding Chamber, and the 47th PBC Chairman.\nThe resolutions to be presented to President Marcos, Jr. during the conference cover a wide range of issues, such as achieving food security, transparent and affordable health care, employment generation, globally-competitive education and training standards, strengthened national security, reliable and competitive digitalization, climate change resilient and environmental-friendly policies, affordable power, safe and efficient transportation, and an outward and forward-looking trade policy.\n\u201cThe set of resolutions capture the collective aspirations and expectations of the Philippine business community to the new administration as it steers the direction of the Philippine economy rebounding from the pandemic,\u201d Mr. Ferrer said.\nMr. Ferrer is the chairman and chief executive officer of Gruppo EMS Inc., a company engaged in providing semiconductor engineering and electronic assembly services in the country and overseas.\nKnown to many as \u201cPerry,\u201d Mr. Ferrer returned to the Philippines after 22 years of being assigned in the Military & Aerospace Electronics in various foreign countries like the USA, Canada, Europe, and China.\nMr. Ferrer graduated Bachelor of Science in Marketing Management from the De La Salle University, Philippines. \u2014 Adrian Paul B. Conoza", "date_published": "2022-10-19T08:40:32+08:00", "date_modified": "2022-11-28T13:49:49+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/11/PBCE-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "PBC&E", "PCCI", "Philippine Business Conference & Expo", "Philippine Chamber of Commerce and Industry", "Special Features" ] }, { "id": "/?p=489769", "url": "/special-features/2022/10/19/489769/gearing-up-for-a-never-ending-battle-against-cyberattacks/", "title": "Gearing up for a \u2018never-ending battle\u2019 against cyberattacks", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nSince the coronavirus crisis has accelerated the use of digital means, organizations have been undergoing their respective digital transformations. Alongside this move, however, cyberattacks like malware and phishing have escalated, which for businesses might result in losing important information, as well as crippled operations and consumer trust.
\nIn a recent 大象传媒 Insights forum, themed \u201cImproving Cybersecurity in the Digital World,\u201d experts from government and private sectors recognized the need for seriously implemented policies as well as comprehensive solutions for businesses amid increasing threats from cyberattacks.
\nMelchor T. Plabasan, director and head of the Technology Risk and Innovation Supervision Department of the Bangko Sentral ng Pilipinas (BSP), noted that amid the growth of digitalization, there has likewise been an increase in threat actors trying to exploit consumers and organizations that cybersecurity has now become a \u201cnever-ending battle\u201d across sectors.
\nFrom the central bank\u2019s end, he shared, the top three incidents in 2021 spotted by the BSP\u2019s cyberthreats surveillance are card-not-present fraud, phishing, and account takeover or identity theft.
\n\u201cThere is now what we call more elbow room on the part of these threat actors on attack surfaces by which they can operate,\u201d he observed.
\nCiting findings from Checkpoint Threat Intelligence Report, Globe Business Enterprise Group Vice-President for Partner Ecosystem Francisco Claravall noted that cyberattacks have threatened the Philippines more than Southeast Asian neighbors.
\nAccording to Checkpoint\u2019s findings, an average of 2,115 weekly attacks were found in Philippine organizations from both government and private sectors.
\n\u201cWe actually see [the] government as actually the top [sector] being attacked, followed by manufacturing and then finance and banking,\u201d he added, noting as well that most of the attacks occurred through email attachments.
\nAnother finding Mr. Claravall noted was that most Philippine organizations (64%) were exploited through remote code execution, which is defined as an attack where a threat actor illegally accesses and manipulates a computer or server without authorization from its owner.
\nAna Margarita Sanchez, vice-president for strategy and engagement at Philpacific Insurance Brokers & Managers, Inc. (Philinsure), pointed out that as the move \u201cto the web on the cloud\u201d drives an exponential growth of data stored online in the future, exposure to cyberthreats are bound to increase. This should alarm Philippine companies to better secure themselves digitally since losses from cyberthreats are very costly.
\nMs. Sanchez cited a study by online marketing firm Reboot Digital PR Services, which revealed the Philippines is the ninth least cyber secure in Asia, mainly due to a huge number of phishing and malware-hosting sites.
\n\u201cCan we afford the loss of our data? Because it costs money when our systems are breached. The cost of repairing our data systems and of restoring the data \u2014 that\u2019s something that every business owner should consider and even our government,\u201d she said.
\n\u201cAnd when we lose our data, we\u2019re not only talking about data and system recovery costs. We\u2019re also talking about business interruption, reputational and brand costs, and also legal and regulatory costs,\u201d she added.
\nMs. Sanchez highlighted that cyberattacks cost a global average of US$ 200,000, or about P11 million \u2014 which puts small and medium enterprises (SMEs) mostly at risk.
\n“SMEs in Asia-Pacific are actually very exposed… and the fear is real for these businesses because even Cisco came out with the study that 56% of Asia-Pacific SMEs have suffered a cyber incident in the last twelve months,\u201d she added.
\nImplementing policies
\nGiven the stronger need for cybersecurity in the country, Allan S. Cabanlong, founder and chief executive officer of CyberGuardians, Inc., stressed throughout the forum that the Philippine government needs to fully implement the National Cybersecurity Plan 2022, which was drafted and launched by the Department of Information and Communications Technology back in 2016 and 2017.
\nThe plan envisions having a trusted and resilient information infrastructure, or infostructure, in the country. Its goals include assuring the continuous operation of the nation\u2019s critical infostructures, public and military networks; implementing cyber-resiliency measures to enhance ability to respond to threats before, during and after attacks; effective coordination with law enforcement agencies; and a cybersecurity-educated society.
\n\u201cThe main challenge now with the government is the implementation. All the plans have been laid out already. The laws have been created already, although there are other laws that are still sought,\u201d Mr. Cabanlong, who is also a former DICT assistant secretary, said.
\nAside from implementation, Mr. Cabanlong continued, putting the right people to handle cybersecurity and developing the cybersecurity workforce in the country are also important.
\nAgreeing with Mr. Cabanlong, central bank\u2019s Mr. Plabasan noted that while the Philippines has a Cybercrime Prevention Act, a cybersecurity law is still needed to clearly delineate the responsibilities of the government and the private sector in terms of protecting critical infrastructure.
\n\u201cAlthough the National Cybersecurity Plan also identifies these critical sectors that need to be protected, we believe that this should be enacted into law because cybersecurity is a very expensive endeavor, [and] so that there [will be] steady source of funding that would finance activities related to protecting our systems,\u201d Mr. Plabasan said.
\nInitial steps for businesses
\nOn the other hand, businesses should start \u201ccybersecuring\u201d themselves by having a security assessment of their company, creating their zero-trust framework, and staying up-to-date on the evolving threat landscape, Mr. Claravall advised.
\n\u201cKeep your team, as well as your executive stakeholders, informed; because unless they know what\u2019s happening, they will not mind you,\u201d Mr. Claravall said.
\nMr. Plabasan remarked that a cybersecurity culture must be built among organizations, particularly embedding cybersecurity across all facets of their operations.
\n\u201cWe also need to make the board aware or, sometimes, to moderately scare them about the risk that the organization is facing, so that they can also fully support initiatives to strengthen the cybersecurity posture of their organization,\u201d he said.
\nMr. Claravall added that businesses should assess the impact of losing critical data, out of which they should create a business continuity plan.
\n\u201cWhen a cyber breach happens, where is your critical data?\u201d he said. \u201cYou have to make sure that you have that plan in place and then make sure you review and test your incident response plan. This should not be at a time when you\u2019re just starting to test what you\u2019ve planned.\u201d
\nThe Globe Business executive also stressed that in getting cybersecurity solutions, companies should not pick and assemble them on their own.
\n\u201cMost customers try to do it per product and try to assemble it. What we realize is you don\u2019t really choose a solution or a product. Look for a strategic partner that can understand your needs end to end,\u201d Mr. Claravall said.
\n\u201cThat\u2019s why things like managed security services are actually booming right now because the expertise is there for you to be able to avail of it,\u201d he added. \u201cYou have to worry about technology and you don\u2019t have to worry about making sure you keep the people, upskill them, and train them.\u201d
\nInnovations for cybersecurity
\nGlobe Business, for its part, has been offering clients bundles of cybersecurity services, which include endpoint security cloud applications, as well as governance, risk management, consulting, and incident management solutions.
\n\u201cWe think of ourselves as curating the best solutions that customers may need,\u201d Mr. Claravall said.
\nThe Globe Business executive also mentioned a solution called incident management response retained, which he observed their brand has succeeded in getting client companies subscribed to.
\n\u201cA company without sort of an incident management response retainer, when something happens to them, will crumble from scratch on how to handle the situation. This retainer helps them, in the event something happens, to respond in an organized and quick manner,\u201d he explained.
\nAnother safety net businesses can go to is insurance, as Philinsure\u2019s Ms. Sanchez shared.
\nPhilinsure\u2019s cyber insurance called CyberSecure, as advertised, intends to accompany companies by coming up with an immediate breach response in case of a suspected data or security breach; as well as by providing experts to regain access, replace, or restore data; and getting reimbursements.
\nThrough neoinsurance, businesses can assess their risk, automatically get a quotation, and easily get CyberSecure on a single online platform.
\n\u201cUsually if it\u2019s cyber insurance, it\u2019s voluminous pages of things you must go through. But here, we\u2019ve made it kind of plug and play,\u201d Ms. Sanchez said. \u201cIn our platform, at least, there are several options for enterprises, particularly for SMEs who are the most vulnerable at this point in time.\u201d
\nMs. Sanchez hopes that more insurers will get into the cyber insurance space as this kind of protection is becoming more critical as a fiscal response to any cyber breaches.
\nThis session of 大象传媒 Insights is in partnership with Globe Business and is supported by the Asia Society-Philippines, British Chamber of Commerce of the Philippines, Financial Executives Institute of the Philippines, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Franchise Association, and The Philippine STAR.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nSince the coronavirus crisis has accelerated the use of digital means, organizations have been undergoing their respective digital transformations. Alongside this move, however, cyberattacks like malware and phishing have escalated, which for businesses might result in losing important information, as well as crippled operations and consumer trust.\nIn a recent 大象传媒 Insights forum, themed \u201cImproving Cybersecurity in the Digital World,\u201d experts from government and private sectors recognized the need for seriously implemented policies as well as comprehensive solutions for businesses amid increasing threats from cyberattacks.\nMelchor T. Plabasan, director and head of the Technology Risk and Innovation Supervision Department of the Bangko Sentral ng Pilipinas (BSP), noted that amid the growth of digitalization, there has likewise been an increase in threat actors trying to exploit consumers and organizations that cybersecurity has now become a \u201cnever-ending battle\u201d across sectors.\nFrom the central bank\u2019s end, he shared, the top three incidents in 2021 spotted by the BSP\u2019s cyberthreats surveillance are card-not-present fraud, phishing, and account takeover or identity theft.\n\u201cThere is now what we call more elbow room on the part of these threat actors on attack surfaces by which they can operate,\u201d he observed.\nCiting findings from Checkpoint Threat Intelligence Report, Globe Business Enterprise Group Vice-President for Partner Ecosystem Francisco Claravall noted that cyberattacks have threatened the Philippines more than Southeast Asian neighbors.\nAccording to Checkpoint\u2019s findings, an average of 2,115 weekly attacks were found in Philippine organizations from both government and private sectors.\n\u201cWe actually see [the] government as actually the top [sector] being attacked, followed by manufacturing and then finance and banking,\u201d he added, noting as well that most of the attacks occurred through email attachments.\nAnother finding Mr. Claravall noted was that most Philippine organizations (64%) were exploited through remote code execution, which is defined as an attack where a threat actor illegally accesses and manipulates a computer or server without authorization from its owner.\nAna Margarita Sanchez, vice-president for strategy and engagement at Philpacific Insurance Brokers & Managers, Inc. (Philinsure), pointed out that as the move \u201cto the web on the cloud\u201d drives an exponential growth of data stored online in the future, exposure to cyberthreats are bound to increase. This should alarm Philippine companies to better secure themselves digitally since losses from cyberthreats are very costly.\nMs. Sanchez cited a study by online marketing firm Reboot Digital PR Services, which revealed the Philippines is the ninth least cyber secure in Asia, mainly due to a huge number of phishing and malware-hosting sites.\n\u201cCan we afford the loss of our data? Because it costs money when our systems are breached. The cost of repairing our data systems and of restoring the data \u2014 that\u2019s something that every business owner should consider and even our government,\u201d she said.\n\u201cAnd when we lose our data, we\u2019re not only talking about data and system recovery costs. We\u2019re also talking about business interruption, reputational and brand costs, and also legal and regulatory costs,\u201d she added.\nMs. Sanchez highlighted that cyberattacks cost a global average of US$ 200,000, or about P11 million \u2014 which puts small and medium enterprises (SMEs) mostly at risk.\n“SMEs in Asia-Pacific are actually very exposed… and the fear is real for these businesses because even Cisco came out with the study that 56% of Asia-Pacific SMEs have suffered a cyber incident in the last twelve months,\u201d she added.\nImplementing policies\nGiven the stronger need for cybersecurity in the country, Allan S. Cabanlong, founder and chief executive officer of CyberGuardians, Inc., stressed throughout the forum that the Philippine government needs to fully implement the National Cybersecurity Plan 2022, which was drafted and launched by the Department of Information and Communications Technology back in 2016 and 2017.\nThe plan envisions having a trusted and resilient information infrastructure, or infostructure, in the country. Its goals include assuring the continuous operation of the nation\u2019s critical infostructures, public and military networks; implementing cyber-resiliency measures to enhance ability to respond to threats before, during and after attacks; effective coordination with law enforcement agencies; and a cybersecurity-educated society.\n\u201cThe main challenge now with the government is the implementation. All the plans have been laid out already. The laws have been created already, although there are other laws that are still sought,\u201d Mr. Cabanlong, who is also a former DICT assistant secretary, said.\nAside from implementation, Mr. Cabanlong continued, putting the right people to handle cybersecurity and developing the cybersecurity workforce in the country are also important.\nAgreeing with Mr. Cabanlong, central bank\u2019s Mr. Plabasan noted that while the Philippines has a Cybercrime Prevention Act, a cybersecurity law is still needed to clearly delineate the responsibilities of the government and the private sector in terms of protecting critical infrastructure.\n\u201cAlthough the National Cybersecurity Plan also identifies these critical sectors that need to be protected, we believe that this should be enacted into law because cybersecurity is a very expensive endeavor, [and] so that there [will be] steady source of funding that would finance activities related to protecting our systems,\u201d Mr. Plabasan said.\nInitial steps for businesses\nOn the other hand, businesses should start \u201ccybersecuring\u201d themselves by having a security assessment of their company, creating their zero-trust framework, and staying up-to-date on the evolving threat landscape, Mr. Claravall advised.\n\u201cKeep your team, as well as your executive stakeholders, informed; because unless they know what\u2019s happening, they will not mind you,\u201d Mr. Claravall said.\nMr. Plabasan remarked that a cybersecurity culture must be built among organizations, particularly embedding cybersecurity across all facets of their operations.\n\u201cWe also need to make the board aware or, sometimes, to moderately scare them about the risk that the organization is facing, so that they can also fully support initiatives to strengthen the cybersecurity posture of their organization,\u201d he said.\nMr. Claravall added that businesses should assess the impact of losing critical data, out of which they should create a business continuity plan.\n\u201cWhen a cyber breach happens, where is your critical data?\u201d he said. \u201cYou have to make sure that you have that plan in place and then make sure you review and test your incident response plan. This should not be at a time when you\u2019re just starting to test what you\u2019ve planned.\u201d\nThe Globe Business executive also stressed that in getting cybersecurity solutions, companies should not pick and assemble them on their own.\n\u201cMost customers try to do it per product and try to assemble it. What we realize is you don\u2019t really choose a solution or a product. Look for a strategic partner that can understand your needs end to end,\u201d Mr. Claravall said.\n\u201cThat\u2019s why things like managed security services are actually booming right now because the expertise is there for you to be able to avail of it,\u201d he added. \u201cYou have to worry about technology and you don\u2019t have to worry about making sure you keep the people, upskill them, and train them.\u201d\nInnovations for cybersecurity\nGlobe Business, for its part, has been offering clients bundles of cybersecurity services, which include endpoint security cloud applications, as well as governance, risk management, consulting, and incident management solutions.\n\u201cWe think of ourselves as curating the best solutions that customers may need,\u201d Mr. Claravall said.\nThe Globe Business executive also mentioned a solution called incident management response retained, which he observed their brand has succeeded in getting client companies subscribed to.\n\u201cA company without sort of an incident management response retainer, when something happens to them, will crumble from scratch on how to handle the situation. This retainer helps them, in the event something happens, to respond in an organized and quick manner,\u201d he explained.\nAnother safety net businesses can go to is insurance, as Philinsure\u2019s Ms. Sanchez shared.\nPhilinsure\u2019s cyber insurance called CyberSecure, as advertised, intends to accompany companies by coming up with an immediate breach response in case of a suspected data or security breach; as well as by providing experts to regain access, replace, or restore data; and getting reimbursements.\nThrough neoinsurance, businesses can assess their risk, automatically get a quotation, and easily get CyberSecure on a single online platform.\n\u201cUsually if it\u2019s cyber insurance, it\u2019s voluminous pages of things you must go through. But here, we\u2019ve made it kind of plug and play,\u201d Ms. Sanchez said. \u201cIn our platform, at least, there are several options for enterprises, particularly for SMEs who are the most vulnerable at this point in time.\u201d\nMs. Sanchez hopes that more insurers will get into the cyber insurance space as this kind of protection is becoming more critical as a fiscal response to any cyber breaches.\nThis session of 大象传媒 Insights is in partnership with Globe Business and is supported by the Asia Society-Philippines, British Chamber of Commerce of the Philippines, Financial Executives Institute of the Philippines, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Franchise Association, and The Philippine STAR.", "date_published": "2022-10-19T08:30:35+08:00", "date_modified": "2022-11-28T13:30:20+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/11/SF_scam-7070718-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "cyberattacks", "cybersecurity", "cyberthreats", "Special Features" ] }, { "id": "/?p=474227", "url": "/sparkup/2022/09/12/474227/unionbank-seeks-to-further-collaborate-with-philippine-startups/", "title": "UnionBank seeks to further collaborate with Philippine startups", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nWith the opening of its Innovation Campus and the launch of its Innovation Festival, the UnionBank of the Philippines, Inc. (UnionBank) reiterates its support for and openness to collaboration with startups in the country.
\nLocated in San Pedro City, Laguna, the newly-opened UnionBank Innovation Campus serves as a hub for research and development that intends to further boost the bank\u2019s digital capabilities.
\nAs Transaction Banking Center Head Ramon G. Duarte shared in a media briefing last Sept. 7, the campus is intended to be a venue where customers, partners, communities, and the government can collaborate in creating innovative banking solutions.
\n\u201cThis is going to be a venue for coordination and applying techniques and technologies to be able to figure out and introduce new banking solutions,\u201d Mr. Duarte said. \u201cIn cases where we also want to equip our collaborators to work on projects, we can be a venue to scale them up and train them.\u201d
\nThe campus, which was inaugurated during the bank\u2019s inaugural three-day Innovation Festival last week, houses training facilities for the bank\u2019s workforce; workspaces for the bank\u2019s contingent of developers, systems engineers, and designers who will collaborate with stakeholders; the recently-launched Asian Institute of Digital Transformation (AIDT); and the headquarters of UnionBank\u2019s digital bank UnionDigital.
\nMoreover, UnionBank\u2019s Chief Information Officer and IT Services Group and Operations and Shared Services Group Head Dennis D. Omila stressed that the bank believes in the unique value of startups, which can complement with theirs.
\n\u201cWe know they have a part in the ecosystem and if we put their unique value and ours together, we can serve communities better,\u201d Mr. Omila said.
\n\u201cWhen you innovate, you have to have diverse groups; and when [these groups] come together, the ideas become better and the executions become together \u2014 and in the process, we learn from each other,\u201d UnionBank Chief Human Resource Officer Michaela Sophia E. Rubio said.
\nWith the said mindset, Mr. Omila added, UnionBank exposed its capabilities by bringing patented application programming interfaces (APIs) that startups, particularly those under financial technology (fintech), can embed on their applications.
\n\u201cA lot of fintechs today actually pursue our capabilities, since it\u2019s already embedded in their apps. You don\u2019t have to use our app… but it\u2019s actually powered by us,\u201d he said.
\nThese APIs, spanning from disbursements to blockchain functions, can be found on UnionBank\u2019s API Marketplace online.
\nUnionBank Senior Executive Vice-President, Chief Technology and Operations Officer, and Chief Transformation Officer Henry Rhoel R. Aguda added that the bank has been supporting and investing in startups through its fintech venture studio and fund UBX.
\nUBX\u2019s ventures include, among others, BUx, an end-to-end payment gateway focused on micro, small, and medium enterprises; SeekCap, a same-day approval digital lending marketplace; and Assured, the Philippines\u2019 first embeddable insurance platform.
\nMore recently, UBX launched Xpanse, a recently-launched open finance platform that intends to enable banks, fintechs, and startups to build new financial solutions through APIs and customer-controlled data sharing across member institutions in the country.
\nThe fintech arm also held its UBX Lounge 48 Mixer event back in June, where it gathered startup founders, venture capitalists, industry leaders, and investors to meet, collaborate, and exchange ideas.
\nMr. Aguda also noted that the three-day Innovation Festival, with its panel discussions, learning sessions, and activities such as a hackathon in partnership with the Department of Trade and Industry, also serves as an additional venue for the startup community to gather.
\n\u201cWe\u2019re giving them a venue to experiment and come together as a community,\u201d he said. \u201cWhat we\u2019ve noticed is when you bring startups together, they create and aggregate new inventions and technologies.\u201d
\nOn top of these initiatives, UnionBank seeks to work with startups with a passion to address the needs of the communities that the bank also seeks to meet, as well as those who are looking to tap emerging technologies.
\n\u201cIf it just picks our interest more, if they are thinking about enriching the lives of the communities we would also want to serve, and if they are forward-looking into technology like the metaverse and blockchain, then let\u2019s talk on how we can collaborate,\u201d he added.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nWith the opening of its Innovation Campus and the launch of its Innovation Festival, the UnionBank of the Philippines, Inc. (UnionBank) reiterates its support for and openness to collaboration with startups in the country.\nLocated in San Pedro City, Laguna, the newly-opened UnionBank Innovation Campus serves as a hub for research and development that intends to further boost the bank\u2019s digital capabilities. \nAs Transaction Banking Center Head Ramon G. Duarte shared in a media briefing last Sept. 7, the campus is intended to be a venue where customers, partners, communities, and the government can collaborate in creating innovative banking solutions.\n\u201cThis is going to be a venue for coordination and applying techniques and technologies to be able to figure out and introduce new banking solutions,\u201d Mr. Duarte said. \u201cIn cases where we also want to equip our collaborators to work on projects, we can be a venue to scale them up and train them.\u201d\nThe campus, which was inaugurated during the bank\u2019s inaugural three-day Innovation Festival last week, houses training facilities for the bank\u2019s workforce; workspaces for the bank\u2019s contingent of developers, systems engineers, and designers who will collaborate with stakeholders; the recently-launched Asian Institute of Digital Transformation (AIDT); and the headquarters of UnionBank\u2019s digital bank UnionDigital.\nMoreover, UnionBank\u2019s Chief Information Officer and IT Services Group and Operations and Shared Services Group Head Dennis D. Omila stressed that the bank believes in the unique value of startups, which can complement with theirs.\n\u201cWe know they have a part in the ecosystem and if we put their unique value and ours together, we can serve communities better,\u201d Mr. Omila said.\n\u201cWhen you innovate, you have to have diverse groups; and when [these groups] come together, the ideas become better and the executions become together \u2014 and in the process, we learn from each other,\u201d UnionBank Chief Human Resource Officer Michaela Sophia E. Rubio said.\nWith the said mindset, Mr. Omila added, UnionBank exposed its capabilities by bringing patented application programming interfaces (APIs) that startups, particularly those under financial technology (fintech), can embed on their applications.\n\u201cA lot of fintechs today actually pursue our capabilities, since it\u2019s already embedded in their apps. You don\u2019t have to use our app… but it\u2019s actually powered by us,\u201d he said.\nThese APIs, spanning from disbursements to blockchain functions, can be found on UnionBank\u2019s API Marketplace online.\nUnionBank Senior Executive Vice-President, Chief Technology and Operations Officer, and Chief Transformation Officer Henry Rhoel R. Aguda added that the bank has been supporting and investing in startups through its fintech venture studio and fund UBX.\nUBX\u2019s ventures include, among others, BUx, an end-to-end payment gateway focused on micro, small, and medium enterprises; SeekCap, a same-day approval digital lending marketplace; and Assured, the Philippines\u2019 first embeddable insurance platform.\nMore recently, UBX launched Xpanse, a recently-launched open finance platform that intends to enable banks, fintechs, and startups to build new financial solutions through APIs and customer-controlled data sharing across member institutions in the country.\nThe fintech arm also held its UBX Lounge 48 Mixer event back in June, where it gathered startup founders, venture capitalists, industry leaders, and investors to meet, collaborate, and exchange ideas.\nMr. Aguda also noted that the three-day Innovation Festival, with its panel discussions, learning sessions, and activities such as a hackathon in partnership with the Department of Trade and Industry, also serves as an additional venue for the startup community to gather.\n\u201cWe\u2019re giving them a venue to experiment and come together as a community,\u201d he said. \u201cWhat we\u2019ve noticed is when you bring startups together, they create and aggregate new inventions and technologies.\u201d\nOn top of these initiatives, UnionBank seeks to work with startups with a passion to address the needs of the communities that the bank also seeks to meet, as well as those who are looking to tap emerging technologies.\n\u201cIf it just picks our interest more, if they are thinking about enriching the lives of the communities we would also want to serve, and if they are forward-looking into technology like the metaverse and blockchain, then let\u2019s talk on how we can collaborate,\u201d he added.", "date_published": "2022-09-12T08:55:38+08:00", "date_modified": "2022-09-13T16:35:20+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/09/SU_S-unionbank-UBIC-Building-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Innovation Campus", "Innovation Festival", "startups", "UnionBank", "UnionBank Innovation Campus", "SparkUp" ] }, { "id": "/?p=474211", "url": "/special-features/2022/09/09/474211/growing-business-commitment-in-accelerated-race-to-net-zero/", "title": "Growing business commitment in accelerated race to net zero", "content_html": "More than a mere move, the effort of businesses towards achieving net-zero carbon dioxide emissions or carbon neutrality is now seen more as a race to mitigate the heightening impacts of climate change. For over two years, more and more businesses have stepped up to do their share in assessing, reducing, and offsetting their carbon emissions.
\nAccording to its 2021 annual report, 2,253 companies covering over a third of global economy market capitalization were working with the Science Based Targets initiative (SBTi), a global body that enables businesses to set emissions reduction targets in line with the latest climate science. This is a large acceleration compared to 918 companies recorded in 2020.
\nSBTi added that companies with approved targets are reducing emissions at an accelerating pace. In 2020, these companies collectively reduced scope 1 and 2 emissions by 12%, which resulted in a total-emissions decrease of 29% between 2015 and 2020, compared to a 25% reduction between 2015 and 2019.
\nScope 1 emissions cover direct emissions from owned or controlled sources, while scope 2 emissions cover indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company.
\n\u201cAn annual 4.2% emissions reduction is required for 1.5\u00b0C-aligned science-based targets. A typical SBTi-approved company has been even more ambitious than the 1.5\u00b0C trajectory, with a linear rate of 8.8% scope 1 and 2 reductions a year during the period with approved targets,\u201d SBTi added in its report.
\nThe previous years have also seen corporations going public with their net-zero ambitions.
\nThe Climate Pledge, co-founded in 2019 by Amazon and Global Optimism, has been inviting well-known companies to reach net-zero carbon emissions by 2040, or 10 years ahead of the United Nations\u2019 timeline.
\nAs stated on their website, signatories to the said pledge must agree to measure and report greenhouse gas (GHG) emissions on a regular basis; implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations; and neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets.
\nSince last March, The Climate Pledge has had more than 300 signatories. Among the companies that joined this pledge are consumer electronics retailer Best Buy, technology companies IBM and Microsoft, consumer goods companies Procter & Gamble and Unilever, software company Salesforce, wireless network operator Verizon, container shipping company Maersk, enterprise software developer SAP, and connected car and audio services brand HARMAN.
\nInvestors and companies have also grouped together for Climate Action 100+, which is considered the world\u2019s largest investor engagement initiative on climate change. The initiative has 615 signatories as of 2021, accounting for a record US$65 trillion in assets under management.
\n\u201cThese investors are engaging with 167 of the world\u2019s biggest listed corporate emitters and driving faster corporate climate action in line with the global goal of reaching net-zero emissions by 2050 or sooner,\u201d Climate Action 100+ said in its 2021 Progress Report.
\nThe report also highlighted companies\u2019 faster and more ambitious climate commitments resulting from investor engagement through the initiative.
\nBloomberg New Energy Finance analysis from September 2021, which builds on Climate Action 100+\u2019s Net-Zero Company Benchmark, found that 111 focus companies have set net-zero targets for 2050 or before, compared to just five in 2018 after the initiative\u2019s launch.
\n\u201cTo demonstrate the scale of impact, it is estimated that these net zero targets \u2014 which Climate Action 100+ investors have played a significant role in securing \u2014 will reduce GHG emissions by 9.8 billion metric tons annually by 2050, roughly equivalent to China\u2019s annual emissions,\u201d the initiative added.
\nPhilippine companies have also stepped up to join the global race to net-zero targets.
\nIn October last year, Ayala Corp. announced its pledge to work towards achieving net zero carbon emissions by 2050. Each business unit of the group is expected to have its own regularly-updated net-zero roadmap.
\nMoreover, Globe Telecom, Inc., which is under Ayala Corp., is the first Philippine company that committed to the SBTi. More recently, Globe was included in the list of top 200 Climate Leaders in Asia Pacific, based on a special report developed by the Financial Times, Nikkei Asia, and Statista.
\nAmong Globe\u2019s initiatives in reducing its GHG emissions, it has deployed over 8,500 green network solutions such as fuel cell systems, direct current-hybrid generators, free cooling systems, and lithium-ion batteries.
\nIn line with the multinational\u2019s push, Nestl\u00e9 Philippines is targeting net-zero as well by 2050. The company seeks to achieve the target by switching to renewable energy and implementing circular economy practices.
\nOffice developer NEO, meanwhile, has achieved five-star certifications for net-zero carbon energy in three of its buildings under the Philippine Green Building Council\u2019s Advancing Net Zero Philippines Program, which verifies a development\u2019s net-zero carbon energy emissions.
\nBoth Nestl\u00e9 Philippines and NEO are supported by power distribution company AboitizPower in their net-zero targets. Both companies use 100% clean and renewable energy from AboitizPower\u2019s MakBan geothermal power plant.
\nLast August, building materials company Cemex Philippines announced its plan to be a net-zero company by 2050. It also introduced in its portfolio a new low-carbon and eco-friendly product line.
\nIn just a few years, triggered by the coronavirus pandemic, targeting net zero is now more seriously considered by organizations. Yet, with all the commitments and plans, achieving net-zero seems to be a starting point for better goals.
\nEconomics researcher Oliver Miltenberger of the University of Melbourne and environmental policy expert Matthew D. Potts of the University of California, Berkeley stressed that while the world can keep global warming in check if emissions reach net-zero by 2050, there is still a need for GHG removal beyond net-zero emissions targets. The \u201creal act of climate cleanup\u201d is thus seen to only begin when more than net-zero emissions are eliminated.
\n\u201cWhile net zero is a critical step toward addressing climate change, it must be achieved smartly. And, importantly, it can\u2019t be the end goal,\u201d the researchers wrote in The Conversation. \u2014 Adrian Paul B. Conoza
\n", "content_text": "More than a mere move, the effort of businesses towards achieving net-zero carbon dioxide emissions or carbon neutrality is now seen more as a race to mitigate the heightening impacts of climate change. For over two years, more and more businesses have stepped up to do their share in assessing, reducing, and offsetting their carbon emissions.\nAccording to its 2021 annual report, 2,253 companies covering over a third of global economy market capitalization were working with the Science Based Targets initiative (SBTi), a global body that enables businesses to set emissions reduction targets in line with the latest climate science. This is a large acceleration compared to 918 companies recorded in 2020.\nSBTi added that companies with approved targets are reducing emissions at an accelerating pace. In 2020, these companies collectively reduced scope 1 and 2 emissions by 12%, which resulted in a total-emissions decrease of 29% between 2015 and 2020, compared to a 25% reduction between 2015 and 2019.\nScope 1 emissions cover direct emissions from owned or controlled sources, while scope 2 emissions cover indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company. \n\u201cAn annual 4.2% emissions reduction is required for 1.5\u00b0C-aligned science-based targets. A typical SBTi-approved company has been even more ambitious than the 1.5\u00b0C trajectory, with a linear rate of 8.8% scope 1 and 2 reductions a year during the period with approved targets,\u201d SBTi added in its report.\nThe previous years have also seen corporations going public with their net-zero ambitions. \nThe Climate Pledge, co-founded in 2019 by Amazon and Global Optimism, has been inviting well-known companies to reach net-zero carbon emissions by 2040, or 10 years ahead of the United Nations\u2019 timeline.\nAs stated on their website, signatories to the said pledge must agree to measure and report greenhouse gas (GHG) emissions on a regular basis; implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations; and neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets.\nSince last March, The Climate Pledge has had more than 300 signatories. Among the companies that joined this pledge are consumer electronics retailer Best Buy, technology companies IBM and Microsoft, consumer goods companies Procter & Gamble and Unilever, software company Salesforce, wireless network operator Verizon, container shipping company Maersk, enterprise software developer SAP, and connected car and audio services brand HARMAN.\nInvestors and companies have also grouped together for Climate Action 100+, which is considered the world\u2019s largest investor engagement initiative on climate change. The initiative has 615 signatories as of 2021, accounting for a record US$65 trillion in assets under management.\n\u201cThese investors are engaging with 167 of the world\u2019s biggest listed corporate emitters and driving faster corporate climate action in line with the global goal of reaching net-zero emissions by 2050 or sooner,\u201d Climate Action 100+ said in its 2021 Progress Report.\nThe report also highlighted companies\u2019 faster and more ambitious climate commitments resulting from investor engagement through the initiative. \nBloomberg New Energy Finance analysis from September 2021, which builds on Climate Action 100+\u2019s Net-Zero Company Benchmark, found that 111 focus companies have set net-zero targets for 2050 or before, compared to just five in 2018 after the initiative\u2019s launch. \n\u201cTo demonstrate the scale of impact, it is estimated that these net zero targets \u2014 which Climate Action 100+ investors have played a significant role in securing \u2014 will reduce GHG emissions by 9.8 billion metric tons annually by 2050, roughly equivalent to China\u2019s annual emissions,\u201d the initiative added.\nPhilippine companies have also stepped up to join the global race to net-zero targets.\nIn October last year, Ayala Corp. announced its pledge to work towards achieving net zero carbon emissions by 2050. Each business unit of the group is expected to have its own regularly-updated net-zero roadmap.\nMoreover, Globe Telecom, Inc., which is under Ayala Corp., is the first Philippine company that committed to the SBTi. More recently, Globe was included in the list of top 200 Climate Leaders in Asia Pacific, based on a special report developed by the Financial Times, Nikkei Asia, and Statista.\nAmong Globe\u2019s initiatives in reducing its GHG emissions, it has deployed over 8,500 green network solutions such as fuel cell systems, direct current-hybrid generators, free cooling systems, and lithium-ion batteries.\nIn line with the multinational\u2019s push, Nestl\u00e9 Philippines is targeting net-zero as well by 2050. The company seeks to achieve the target by switching to renewable energy and implementing circular economy practices.\nOffice developer NEO, meanwhile, has achieved five-star certifications for net-zero carbon energy in three of its buildings under the Philippine Green Building Council\u2019s Advancing Net Zero Philippines Program, which verifies a development\u2019s net-zero carbon energy emissions.\nBoth Nestl\u00e9 Philippines and NEO are supported by power distribution company AboitizPower in their net-zero targets. Both companies use 100% clean and renewable energy from AboitizPower\u2019s MakBan geothermal power plant.\nLast August, building materials company Cemex Philippines announced its plan to be a net-zero company by 2050. It also introduced in its portfolio a new low-carbon and eco-friendly product line.\nIn just a few years, triggered by the coronavirus pandemic, targeting net zero is now more seriously considered by organizations. Yet, with all the commitments and plans, achieving net-zero seems to be a starting point for better goals.\nEconomics researcher Oliver Miltenberger of the University of Melbourne and environmental policy expert Matthew D. Potts of the University of California, Berkeley stressed that while the world can keep global warming in check if emissions reach net-zero by 2050, there is still a need for GHG removal beyond net-zero emissions targets. The \u201creal act of climate cleanup\u201d is thus seen to only begin when more than net-zero emissions are eliminated.\n\u201cWhile net zero is a critical step toward addressing climate change, it must be achieved smartly. And, importantly, it can\u2019t be the end goal,\u201d the researchers wrote in The Conversation. \u2014 Adrian Paul B. Conoza", "date_published": "2022-09-09T08:50:53+08:00", "date_modified": "2022-09-13T16:15:25+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/09/SF_dreamstime_14452618-1-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "carbon emissions", "carbon neutrality", "climate change", "net zero", "Special Features" ] }, { "id": "/?p=474223", "url": "/special-features/2022/09/05/474223/addressing-the-philippines-learning-crisis/", "title": "Addressing the Philippines\u2019 learning crisis", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nBusiness leaders and education experts have largely recognized that education in the Philippines has been facing a lot of difficulties, and the coronavirus pandemic has exacerbated such difficulties as schools adopted distanced or \u2018blended\u2019 learning in the past two years. The consensus has been that the Philippines \u2014 and the world in general \u2014 has been facing a \u201clearning crisis,\u201d and it is hoped that the new administration will exert great effort in resolving this another crisis in the country as face-to-face classes have resumed.
\nTo recall, the most recent results of the Program for International Student Assessment (PISA) conducted by the Organization for Economic Cooperation and Development (OECD) showed that 15-year-old students in the Philippines scored lower in reading, mathematics, and science than those in most of the countries and economies that participated in the survey back in 2018.
\nThe Philippines scored the lowest in reading comprehension with a mean score of 340 points, below the survey average of 487 points; while it was the second-lowest in Science at 357 and in Math at 353, below the average of 489 points in both subjects.
\nInterpreting the findings in context, OECD notes that expenditure per student in the Philippines was the lowest amongst all PISA-participating countries, and the expenditure was 90% lower than the OECD average.
\n\u201cBy comparison, expenditure per student in Indonesia was 83% lower than the OECD average and students there outperformed students in the Philippines, although their scores were still lower than those of students in between 66 and 70 other countries/economies,\u201d the PISA report added.
\nFast-forward to the past two years, when the pandemic forced schools to continue their classes virtually and even some to halt their operations, the difficulties in the country\u2019s education system have been found to be much deeper.
\n![\"\"](\"/wp-content/uploads/2022/09/SF_girl-998988-OL-300x200.jpg\")
A report by the World Bank (WB) last year highlighted that the Philippines\u2019 learning poverty \u2014 defined as the share of 10-year-old children who cannot read and understand a simple story \u2014 was estimated at 69.5% in 2019, based on Trends in International Mathematics and Science Study 2003 outcomes.
On the other hand, based on Southeast Asia Primary Learning Metrics from 2019, as published in United Nations Children\u2019s Fund\u2019s (UNICEF) report on the State of Learning Poverty, the country\u2019s learning poverty is at 90.9%.
\nAccording to WB, school closures and learning loss during the pandemic can have a long-term negative impact on the current cohort of school children, and these two factors are likely to affect the children\u2019s economic potential and productivity in adulthood.
\nWB estimated that due to learning losses, an average annual earning per student will decrease by $893 to $1,137, or a loss of present value of individual lifetime earnings by $16,287 to $20,752.
\nFurther on the pandemic\u2019s impacts, WB observed that an additional 1.6 million students were out of school in 2021 as overall basic education enrollment was 6% lower than in 2020. Enrolled children, meanwhile, faced many challenges to effective learning under a distance learning modality; and such challenges have been found greater for lower-income households who have limited resources for better access. This likely explains the high demand for returning to in-person classes, highly driven by lower-income households and women.
\nCited by advocacy group Philippine Business for Education (PBEd) in a statement, a survey by Samahan ng Nagkakaisang Pamilya ng Pantawid of more than 9,000 parents revealed that they spent 40% more because of distance learning compared to 2020; while a Pulse Asia survey said that one out of four parents think their children are not learning in the remote setup.
\nMore recently, according to UNICEF\u2019s report, jointly published in partnership with United Nations Educational, Scientific and Cultural Organization (UNESCO) and WB last March, nearly six out of every 10 10-year-olds in low- and middle-income countries suffering from learning poverty. Translated to the Philippine context, less than 15% of Filipino children are found to be capable of reading a simple text at age 10 \u2014 placing the country\u2019s learning poverty somewhere around 85%.
\nAnother highlight of the report confirmed that the Philippines has the longest duration of school closures, as of last February. Year 2020 figures cited by PBEd showed that private school closures reached a total of 1,179.
\n![\"\"](\"/wp-content/uploads/2022/09/SF_students-1177702-OL-300x225.jpg\")
Strongly recognizing the struggles the country\u2019s education system has been through, especially amid the pandemic, PBEd sees the need to immediately resolve the difficulties.
\u201cClearly, we need to stop the learning crisis. All sectors of society need to take part in solving this crisis, with the government taking the lead. We must demand for better education, for quality education enables individuals to enjoy strongly rooted and secure lives as reflected in Ambisyon Natin 2040,\u201d PBEd Chairman Ramon del Rosario, Jr. said in a statement.
\nSharing in a compilation of insights published on 大象传媒\u2019s anniversary report last July, Mr. del Rosario noted that the longstanding education crisis is what currently hurdles the country from reaching its goal of slashing Philippine poverty to a single digit, as shared by the current President in his trust state of the nation address.
\n\u201cWe cannot address our learning losses without sufficient resources. Historically, only 3% of our GDP (gross domestic product) has been allotted for the education sector. While the proposed budget for basic education now is at 4.3%, we still do not meet the global standard of 6%. We should spend as much for education as we do for physical infrastructure,\u201d the PBEd chairman continued.
\nPBEd, together with Philippine Business for Social Progress, Makati Business Club, and Management Association of the Philippines, proposes the following policy directions for improving the country\u2019s education system: (1) bringing all children to quality pre-Kindergarten to Grade 3 education and developmental programs; (2) improving the quality of instruction and teachers with the target that all learners meet basic skills based on international standards; (3) using the lens of lifelong learning in workforce development; (4) fully leveraging private education to better complement delivery of services; and (5) strengthening autonomy, coupled with accountability, of school leaders and local governments.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nBusiness leaders and education experts have largely recognized that education in the Philippines has been facing a lot of difficulties, and the coronavirus pandemic has exacerbated such difficulties as schools adopted distanced or \u2018blended\u2019 learning in the past two years. The consensus has been that the Philippines \u2014 and the world in general \u2014 has been facing a \u201clearning crisis,\u201d and it is hoped that the new administration will exert great effort in resolving this another crisis in the country as face-to-face classes have resumed.\nTo recall, the most recent results of the Program for International Student Assessment (PISA) conducted by the Organization for Economic Cooperation and Development (OECD) showed that 15-year-old students in the Philippines scored lower in reading, mathematics, and science than those in most of the countries and economies that participated in the survey back in 2018.\nThe Philippines scored the lowest in reading comprehension with a mean score of 340 points, below the survey average of 487 points; while it was the second-lowest in Science at 357 and in Math at 353, below the average of 489 points in both subjects.\nInterpreting the findings in context, OECD notes that expenditure per student in the Philippines was the lowest amongst all PISA-participating countries, and the expenditure was 90% lower than the OECD average.\n\u201cBy comparison, expenditure per student in Indonesia was 83% lower than the OECD average and students there outperformed students in the Philippines, although their scores were still lower than those of students in between 66 and 70 other countries/economies,\u201d the PISA report added.\nFast-forward to the past two years, when the pandemic forced schools to continue their classes virtually and even some to halt their operations, the difficulties in the country\u2019s education system have been found to be much deeper.\nA report by the World Bank (WB) last year highlighted that the Philippines\u2019 learning poverty \u2014 defined as the share of 10-year-old children who cannot read and understand a simple story \u2014 was estimated at 69.5% in 2019, based on Trends in International Mathematics and Science Study 2003 outcomes.\nOn the other hand, based on Southeast Asia Primary Learning Metrics from 2019, as published in United Nations Children\u2019s Fund\u2019s (UNICEF) report on the State of Learning Poverty, the country\u2019s learning poverty is at 90.9%.\nAccording to WB, school closures and learning loss during the pandemic can have a long-term negative impact on the current cohort of school children, and these two factors are likely to affect the children\u2019s economic potential and productivity in adulthood.\nWB estimated that due to learning losses, an average annual earning per student will decrease by $893 to $1,137, or a loss of present value of individual lifetime earnings by $16,287 to $20,752.\nFurther on the pandemic\u2019s impacts, WB observed that an additional 1.6 million students were out of school in 2021 as overall basic education enrollment was 6% lower than in 2020. Enrolled children, meanwhile, faced many challenges to effective learning under a distance learning modality; and such challenges have been found greater for lower-income households who have limited resources for better access. This likely explains the high demand for returning to in-person classes, highly driven by lower-income households and women.\nCited by advocacy group Philippine Business for Education (PBEd) in a statement, a survey by Samahan ng Nagkakaisang Pamilya ng Pantawid of more than 9,000 parents revealed that they spent 40% more because of distance learning compared to 2020; while a Pulse Asia survey said that one out of four parents think their children are not learning in the remote setup.\nMore recently, according to UNICEF\u2019s report, jointly published in partnership with United Nations Educational, Scientific and Cultural Organization (UNESCO) and WB last March, nearly six out of every 10 10-year-olds in low- and middle-income countries suffering from learning poverty. Translated to the Philippine context, less than 15% of Filipino children are found to be capable of reading a simple text at age 10 \u2014 placing the country\u2019s learning poverty somewhere around 85%.\nAnother highlight of the report confirmed that the Philippines has the longest duration of school closures, as of last February. Year 2020 figures cited by PBEd showed that private school closures reached a total of 1,179.\nStrongly recognizing the struggles the country\u2019s education system has been through, especially amid the pandemic, PBEd sees the need to immediately resolve the difficulties.\n\u201cClearly, we need to stop the learning crisis. All sectors of society need to take part in solving this crisis, with the government taking the lead. We must demand for better education, for quality education enables individuals to enjoy strongly rooted and secure lives as reflected in Ambisyon Natin 2040,\u201d PBEd Chairman Ramon del Rosario, Jr. said in a statement.\nSharing in a compilation of insights published on 大象传媒\u2019s anniversary report last July, Mr. del Rosario noted that the longstanding education crisis is what currently hurdles the country from reaching its goal of slashing Philippine poverty to a single digit, as shared by the current President in his trust state of the nation address.\n\u201cWe cannot address our learning losses without sufficient resources. Historically, only 3% of our GDP (gross domestic product) has been allotted for the education sector. While the proposed budget for basic education now is at 4.3%, we still do not meet the global standard of 6%. We should spend as much for education as we do for physical infrastructure,\u201d the PBEd chairman continued.\nPBEd, together with Philippine Business for Social Progress, Makati Business Club, and Management Association of the Philippines, proposes the following policy directions for improving the country\u2019s education system: (1) bringing all children to quality pre-Kindergarten to Grade 3 education and developmental programs; (2) improving the quality of instruction and teachers with the target that all learners meet basic skills based on international standards; (3) using the lens of lifelong learning in workforce development; (4) fully leveraging private education to better complement delivery of services; and (5) strengthening autonomy, coupled with accountability, of school leaders and local governments.", "date_published": "2022-09-05T09:00:44+08:00", "date_modified": "2022-09-13T16:23:25+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/09/SF_children-306607-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "education", "learning crisis", "Special Features" ] }, { "id": "/?p=471371", "url": "/special-features/2022/08/29/471371/an-opportunity-to-sustain-a-good-start/", "title": "An opportunity to sustain a good start", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nThe Philippine office segment has seen indications of an initial rebound so far this year, and this has been largely marked by the growing preference for flexibility at work.
\nAs shared by Joey Roi Bondoc, associate director and head of research at Colliers Philippines, in a special report in 大象传媒 earlier this month, data from their firm recorded that 306,100 square meters (sq.m.) of new supply completed in the first quarter (Q1) of 2022, exceeding the 114,300 sq.m. (1.2 million sq. ft.) completed in the fourth quarter (Q4) of 2021.
\n\u201cAmong the buildings completed in the first quarter were One Ayala Towers 1 & 2 in Makati CBD (Central Business District), DoubleDragon Tower, Four E-com Tower 3 and Iland Bay Plaza in the Bay Area, NEX 54 in Ortigas Fringe and Savya Financial Center North in Arca South,\u201d Mr. Bondoc added.
\nNet take-up, meanwhile, escalated from minus 130,100 sq.m. in the Q4 of 2021 to 26,400 sq.m. in Q1 2022 \u2014 the first recorded positive net take-up after seven consecutive quarters of negative net absorption.
\nColliers also noted that office transactions in the capital region totaled 146,100 sq.m., an increase of 30% year-on-year.
\nRobinsons Land Corp. (RLC) finds themselves in a similar path with these positive observations, as Jericho P. Go, the developer\u2019s senior vice-president and business unit general manager for Offices, said.
\n\u201cWe have seen a positive uptick in office leasing transactions with the way we have configured our developments,\u201d Mr. Go told 大象传媒 in an e-mail.
\nHub-and-spoke
\nIn addition, Colliers observed that traditional and outsourcing firms took up space during Q1, both inside and outside the metro. Most of the firms leased space in Fort Bonifacio, the Bay Area, and Makati CBD. Outside of Metro Manila, absorption of new office space was spotted in Pampanga, Cebu, Iloilo, Davao, and Cagayan de Oro.
\nThis expanded presence of offices is reflected by the implementation of a hub-and-spoke strategy, where offices retain operations in urban centers or CBDs while expanding them in \u201csecond-and third-tier cities and locations.\u201d
\nOn RLC\u2019s end, this strategy has been applied even before the pandemic hit the property sector.
\n\u201cIn Metro Manila, we have the largest population base and a wealth of labor resource in terms of complexity, availability, and diversity,\u201d Mr. Go said.
\nWhile maintaining presence in Metro Manila, RLC is aggressively expanding in key cities in the provinces.
\n\u201cGoing into these provinces, we provide options to those who want to work near their families. We are experiencing an increase in inquiries and signups in key cities,\u201d the developer said.
\nAlexis Ortiga, vice-president of the SM Commercial Properties Group, under SM Prime Holdings, Inc. (SMPH), also observed an increase of offices in the fringe areas going into the provinces.
\n\u201cIloilo is a very popular market right now. The Cavite, Laguna, and Batangas areas are also popular for both warehouses and offices,\u201d Mr. Ortiga said.
\nEmphasis on flexibility
\nAlso being realized in the past six months, and beyond, is stronger flexibility in work, where on-site and remote modes converge.
\nThe latest Asia Pacific Workforce Preferences Barometer of Jones Lang LaSalle (JLL) highlighted that an \u2018optimal point\u2019 has been reached among office workers, with hybrid work preferred by 60% of employees surveyed and being implemented already by 55% of respondents. The research also found that three in four employees agree that hybrid is a non-negotiable factor in talent retention, and 78% of respondents who advocate remote working are actually managers.
\nJLL\u2019s research further noted that the office is set to become a hub for human connection and innovation, as 56% of organizations plan to refit or redesign their office space in the next 12 months.
\nIn addition, based on its workplace strategy tool called Experience per Square Foot TM, Cushman & Wakefield expects greater workplace flexibility to take further shape in the post-pandemic period.
\n\u201cWe can expect a significant flight to quality among corporate occupiers, with state-of-the-art buildings featuring smart technology considered attractive by employees. Moreover, office spaces with flexible floor plans are preferred, to accommodate increased allocation for collaboration areas and well-being facilities,\u201d Claro Cordero, Jr., director and head of research, Consulting & Advisory Services at Cushman & Wakefield, explained in another outlook previously published in 大象传媒.
\nMr. Ortiga of SMPH agrees that flexible office spaces are now preferred by a lot of tenants.
\n\u201cThey want more open layouts, higher floor-to-ceiling clearance, and of course a lot of them have heavily invested in safety protocols,\u201d he said.
\nRLC, for its part, observed similar needs for flexibility amid the pandemic, and so has resolved to reconfigure their workspaces to meet employees\u2019 needs in the new normal, as shown in their headquarters at the 25th floor of Robinsons Cyberscape Alpha in Ortigas Center, Pasig City.
\n\u201cProfessionals have grown accustomed to working from home during the pandemic, but the disadvantages in that include interruptions in power supply, internet connection, and mental health because of the relative isolation as one works alone and is not in personal contact with peers,\u201d Mr. Go observed.
\nConsidering these factors, RLC developed an environment designed for employees to \u201cenjoy the best of both worlds.\u201d The developer incorporated elements of a home, such as the living room area, the pantry, and the bar; while also adding \u2018fun\u2019 elements such as a billiards table, a Ping-Pong table, a foosball table.
\n\u201cAll of these facilitate collaboration, interaction, coordination, camaraderie, and synergy within the workplace, ultimately creating a winning culture so that when employees go back to the office, they are inspired to create innovations and new ways of doing business,\u201d Mr. Go explained.
\nRelevant technologies have also been rolled out, alongside health and safety protocols.
\n\u201cFor instance, we installed generous provisions for treated outdoor air to deliver airflow rates that exceed the [Department of Labor and Employment] standard. Through this, we ensure a healthy work environment with air exchange that expel virus. More and more people would want to have that,\u201d Mr. Go said.
\nSafety features have been a long-standing practice for SMPH\u2019s offices.
\n\u201cFor example, hourly cleaning and sanitation of high touch point areas \u2014 we\u2019ve been doing that for a long time now. Having MERV 13 filters in our ventilation systems so that the air we breathe inside SM Offices is cleaner,\u201d Mr. Ortiga shared.
\n![\"\"](\"/wp-content/uploads/2022/08/SF_city-863692-OL-300x200.jpg\")
Looking ahead
Backed by a good start, the office segment is expected to sustain its progress towards recovery.
\nLobien Realty Group (LRG) notes that this recovery, particularly in the Metro Manila market, is set to start in Q4 2022. LRG reported that the office vacancy rate in the said market is expected to improve from first half\u2019s 19% as office demand picks up with increased economic activity.
\nLRG also found that the Makati CBD has a pipeline of 307,000 sq.m. in office spaces that is expected to be completed by 2028. Taguig\u2019s business district is found to have 250,000 sq.m. of office space in the pipeline, while Pasig has 139,000 sq.m.
\n\u201cOpportunity is seen for office space tenants and locators due to the 19% vacancy rates, ample supply of office space pipeline in all office space grades, and the possible weakening of rental rates for landlords to shed the available office supply in the market,\u201d LRG was quoted as saying in a recent 大象传媒 report.
\nColliers, for its part, projects new supply to reach 821,900 sq.m. this year, a 30% increase from 2021 completions.
\nFurther on demand, Mr. Cordero of Cushman & Wakefield spoke of a favorable long-term outlook for the major demand drivers of office space.
\nCiting a recent study of the firm on the Asia-Pacific office market, Mr. Cordero said total employment in office-using jobs in the Philippines is expected to grow by more than 2.4 million, which translates to more than 8.3 million sq.m. in office space demand. This is equivalent to a more than 70% increase in the current stock of office space in the country.
\n\u201cThe near-term outlook on net office space absorption in the Philippines will still be lower than the estimated average in the last 15 years,\u201d Mr. Cordero continued. \u201cThe expansionary demand in the medium term, however, will come from the continued growth of the outsourcing and information technology and business processing management (IT-BPM) companies.\u201d
\nRLC\u2019s Mr. Go also shared other potential drivers in the office segment.
\n\u201cIn the office sector where there is an oversupply, the return of POGO (Philippine offshore gaming operators) may reduce vacancies. When the supply and demand imbalance is corrected, there is an expectation that rental rates will improve. We also see an opportunity with the requirements on data centers. Sectors such as data analytics, robotics, and artificial intelligence, will benefit from the infrastructure technology provided by data centers to help them grow. These industries are expected to take up office spaces,\u201d he said.
\nChallenges
\nHowever, caution is indicated on JLL\u2019s most recent outlook. In its \u201cGlobal Real Estate Perspective\u201d for the office segment this month, JLL found that current economic headwinds are impacting the construction sector and will flow through to the development pipeline over the coming 12 to 24 months.
\n\u201cRising construction costs, a shortage of labor (especially in Eastern Europe due to the war in Ukraine), and supply chain disruption are creating uncertainty and will help to shape the development pipeline. The future supply pipeline is consequently anticipated to tighten and there is potential for deliveries to be delayed,\u201d JLL explained on its website.
\nLikewise, RLC, as an importer of raw materials and equipment for office developments such as building elevators, generation sets, air-conditioning units and escalators, sees certain global events as a cause for concern.
\n\u201cSuch events may affect the flow of goods and services and the deliveries on raw materials and equipment. When deliveries are disrupted, it will affect the completion and handover of projects,\u201d Mr. Go said.
\nAmid these challenges, for Mr. Go, the segment\u2019s recovery is sure to happen.
\n\u201cSlowly but surely, we are nearing pre-pandemic levels. We are optimistic because of the hub-and-spoke strategy that we have adopted even before the pandemic hit, with Metro Manila as the base of operations. This strategy effectively brings in new inquiries and signups for the business,\u201d Mr. Go said.
\nMr. Go also believes that RLC\u2019s large investment in flexible spaces will start its growth for a \u2018better normal.\u2019
\n\u201cAs we go back to the office, performance is expected to improve for our company and like-minded companies, who would want to start again and enjoy the same benefits of collaborative workspaces, gaming areas, airflow rates, etc. That concept is resonating well to office locators as evidenced by the increase in inquiries and signups year-on-year since 2020,\u201d Mr. Go said.
\nSMPH, meanwhile, believes it has figured out a design formula that works well for employers, tenant-partners, and their employees and guests.
\n\u201cGiven our amenities and conveniences, I\u2019m proud to say we give real meaning to the phrase \u2018work-life balance\u2019, and how we\u2019re able to treat each tenant-partners and their employees as human beings, not just tenants that fill up our spaces,\u201d Mr. Ortiga said.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nThe Philippine office segment has seen indications of an initial rebound so far this year, and this has been largely marked by the growing preference for flexibility at work.\nAs shared by Joey Roi Bondoc, associate director and head of research at Colliers Philippines, in a special report in 大象传媒 earlier this month, data from their firm recorded that 306,100 square meters (sq.m.) of new supply completed in the first quarter (Q1) of 2022, exceeding the 114,300 sq.m. (1.2 million sq. ft.) completed in the fourth quarter (Q4) of 2021.\n\u201cAmong the buildings completed in the first quarter were One Ayala Towers 1 & 2 in Makati CBD (Central Business District), DoubleDragon Tower, Four E-com Tower 3 and Iland Bay Plaza in the Bay Area, NEX 54 in Ortigas Fringe and Savya Financial Center North in Arca South,\u201d Mr. Bondoc added.\nNet take-up, meanwhile, escalated from minus 130,100 sq.m. in the Q4 of 2021 to 26,400 sq.m. in Q1 2022 \u2014 the first recorded positive net take-up after seven consecutive quarters of negative net absorption.\nColliers also noted that office transactions in the capital region totaled 146,100 sq.m., an increase of 30% year-on-year.\nRobinsons Land Corp. (RLC) finds themselves in a similar path with these positive observations, as Jericho P. Go, the developer\u2019s senior vice-president and business unit general manager for Offices, said.\n\u201cWe have seen a positive uptick in office leasing transactions with the way we have configured our developments,\u201d Mr. Go told 大象传媒 in an e-mail.\nHub-and-spoke\nIn addition, Colliers observed that traditional and outsourcing firms took up space during Q1, both inside and outside the metro. Most of the firms leased space in Fort Bonifacio, the Bay Area, and Makati CBD. Outside of Metro Manila, absorption of new office space was spotted in Pampanga, Cebu, Iloilo, Davao, and Cagayan de Oro.\nThis expanded presence of offices is reflected by the implementation of a hub-and-spoke strategy, where offices retain operations in urban centers or CBDs while expanding them in \u201csecond-and third-tier cities and locations.\u201d\nOn RLC\u2019s end, this strategy has been applied even before the pandemic hit the property sector.\n\u201cIn Metro Manila, we have the largest population base and a wealth of labor resource in terms of complexity, availability, and diversity,\u201d Mr. Go said.\nWhile maintaining presence in Metro Manila, RLC is aggressively expanding in key cities in the provinces.\n\u201cGoing into these provinces, we provide options to those who want to work near their families. We are experiencing an increase in inquiries and signups in key cities,\u201d the developer said.\nAlexis Ortiga, vice-president of the SM Commercial Properties Group, under SM Prime Holdings, Inc. (SMPH), also observed an increase of offices in the fringe areas going into the provinces.\n\u201cIloilo is a very popular market right now. The Cavite, Laguna, and Batangas areas are also popular for both warehouses and offices,\u201d Mr. Ortiga said.\nEmphasis on flexibility\nAlso being realized in the past six months, and beyond, is stronger flexibility in work, where on-site and remote modes converge.\nThe latest Asia Pacific Workforce Preferences Barometer of Jones Lang LaSalle (JLL) highlighted that an \u2018optimal point\u2019 has been reached among office workers, with hybrid work preferred by 60% of employees surveyed and being implemented already by 55% of respondents. The research also found that three in four employees agree that hybrid is a non-negotiable factor in talent retention, and 78% of respondents who advocate remote working are actually managers.\nJLL\u2019s research further noted that the office is set to become a hub for human connection and innovation, as 56% of organizations plan to refit or redesign their office space in the next 12 months.\nIn addition, based on its workplace strategy tool called Experience per Square Foot TM, Cushman & Wakefield expects greater workplace flexibility to take further shape in the post-pandemic period.\n\u201cWe can expect a significant flight to quality among corporate occupiers, with state-of-the-art buildings featuring smart technology considered attractive by employees. Moreover, office spaces with flexible floor plans are preferred, to accommodate increased allocation for collaboration areas and well-being facilities,\u201d Claro Cordero, Jr., director and head of research, Consulting & Advisory Services at Cushman & Wakefield, explained in another outlook previously published in 大象传媒.\nMr. Ortiga of SMPH agrees that flexible office spaces are now preferred by a lot of tenants.\n\u201cThey want more open layouts, higher floor-to-ceiling clearance, and of course a lot of them have heavily invested in safety protocols,\u201d he said.\nRLC, for its part, observed similar needs for flexibility amid the pandemic, and so has resolved to reconfigure their workspaces to meet employees\u2019 needs in the new normal, as shown in their headquarters at the 25th floor of Robinsons Cyberscape Alpha in Ortigas Center, Pasig City.\n\u201cProfessionals have grown accustomed to working from home during the pandemic, but the disadvantages in that include interruptions in power supply, internet connection, and mental health because of the relative isolation as one works alone and is not in personal contact with peers,\u201d Mr. Go observed.\nConsidering these factors, RLC developed an environment designed for employees to \u201cenjoy the best of both worlds.\u201d The developer incorporated elements of a home, such as the living room area, the pantry, and the bar; while also adding \u2018fun\u2019 elements such as a billiards table, a Ping-Pong table, a foosball table.\n\u201cAll of these facilitate collaboration, interaction, coordination, camaraderie, and synergy within the workplace, ultimately creating a winning culture so that when employees go back to the office, they are inspired to create innovations and new ways of doing business,\u201d Mr. Go explained.\nRelevant technologies have also been rolled out, alongside health and safety protocols.\n\u201cFor instance, we installed generous provisions for treated outdoor air to deliver airflow rates that exceed the [Department of Labor and Employment] standard. Through this, we ensure a healthy work environment with air exchange that expel virus. More and more people would want to have that,\u201d Mr. Go said.\nSafety features have been a long-standing practice for SMPH\u2019s offices.\n\u201cFor example, hourly cleaning and sanitation of high touch point areas \u2014 we\u2019ve been doing that for a long time now. Having MERV 13 filters in our ventilation systems so that the air we breathe inside SM Offices is cleaner,\u201d Mr. Ortiga shared.\nLooking ahead\nBacked by a good start, the office segment is expected to sustain its progress towards recovery.\nLobien Realty Group (LRG) notes that this recovery, particularly in the Metro Manila market, is set to start in Q4 2022. LRG reported that the office vacancy rate in the said market is expected to improve from first half\u2019s 19% as office demand picks up with increased economic activity.\nLRG also found that the Makati CBD has a pipeline of 307,000 sq.m. in office spaces that is expected to be completed by 2028. Taguig\u2019s business district is found to have 250,000 sq.m. of office space in the pipeline, while Pasig has 139,000 sq.m.\n\u201cOpportunity is seen for office space tenants and locators due to the 19% vacancy rates, ample supply of office space pipeline in all office space grades, and the possible weakening of rental rates for landlords to shed the available office supply in the market,\u201d LRG was quoted as saying in a recent 大象传媒 report.\nColliers, for its part, projects new supply to reach 821,900 sq.m. this year, a 30% increase from 2021 completions.\nFurther on demand, Mr. Cordero of Cushman & Wakefield spoke of a favorable long-term outlook for the major demand drivers of office space.\nCiting a recent study of the firm on the Asia-Pacific office market, Mr. Cordero said total employment in office-using jobs in the Philippines is expected to grow by more than 2.4 million, which translates to more than 8.3 million sq.m. in office space demand. This is equivalent to a more than 70% increase in the current stock of office space in the country.\n\u201cThe near-term outlook on net office space absorption in the Philippines will still be lower than the estimated average in the last 15 years,\u201d Mr. Cordero continued. \u201cThe expansionary demand in the medium term, however, will come from the continued growth of the outsourcing and information technology and business processing management (IT-BPM) companies.\u201d\nRLC\u2019s Mr. Go also shared other potential drivers in the office segment.\n\u201cIn the office sector where there is an oversupply, the return of POGO (Philippine offshore gaming operators) may reduce vacancies. When the supply and demand imbalance is corrected, there is an expectation that rental rates will improve. We also see an opportunity with the requirements on data centers. Sectors such as data analytics, robotics, and artificial intelligence, will benefit from the infrastructure technology provided by data centers to help them grow. These industries are expected to take up office spaces,\u201d he said.\nChallenges\nHowever, caution is indicated on JLL\u2019s most recent outlook. In its \u201cGlobal Real Estate Perspective\u201d for the office segment this month, JLL found that current economic headwinds are impacting the construction sector and will flow through to the development pipeline over the coming 12 to 24 months.\n\u201cRising construction costs, a shortage of labor (especially in Eastern Europe due to the war in Ukraine), and supply chain disruption are creating uncertainty and will help to shape the development pipeline. The future supply pipeline is consequently anticipated to tighten and there is potential for deliveries to be delayed,\u201d JLL explained on its website.\nLikewise, RLC, as an importer of raw materials and equipment for office developments such as building elevators, generation sets, air-conditioning units and escalators, sees certain global events as a cause for concern.\n\u201cSuch events may affect the flow of goods and services and the deliveries on raw materials and equipment. When deliveries are disrupted, it will affect the completion and handover of projects,\u201d Mr. Go said.\nAmid these challenges, for Mr. Go, the segment\u2019s recovery is sure to happen.\n\u201cSlowly but surely, we are nearing pre-pandemic levels. We are optimistic because of the hub-and-spoke strategy that we have adopted even before the pandemic hit, with Metro Manila as the base of operations. This strategy effectively brings in new inquiries and signups for the business,\u201d Mr. Go said.\nMr. Go also believes that RLC\u2019s large investment in flexible spaces will start its growth for a \u2018better normal.\u2019\n\u201cAs we go back to the office, performance is expected to improve for our company and like-minded companies, who would want to start again and enjoy the same benefits of collaborative workspaces, gaming areas, airflow rates, etc. That concept is resonating well to office locators as evidenced by the increase in inquiries and signups year-on-year since 2020,\u201d Mr. Go said.\nSMPH, meanwhile, believes it has figured out a design formula that works well for employers, tenant-partners, and their employees and guests.\n\u201cGiven our amenities and conveniences, I\u2019m proud to say we give real meaning to the phrase \u2018work-life balance\u2019, and how we\u2019re able to treat each tenant-partners and their employees as human beings, not just tenants that fill up our spaces,\u201d Mr. Ortiga said.", "date_published": "2022-08-29T09:00:24+08:00", "date_modified": "2022-08-30T14:24:40+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/SF_render-2001817-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "hybrid work", "office segment", "Robinsons Land Corp.", "SM Commercial Properties Group", "Special Features" ] }, { "id": "/?p=471343", "url": "/special-features/2022/08/22/471343/opportunities-to-upskill-auditing/", "title": "Opportunities to upskill auditing", "content_html": "In the new normal, industries and organizations have been embracing several transformations that were either caused or accelerated by the coronavirus pandemic, such as digital transformation and sustainability. The auditing industry continues to grapple with these changes, especially in terms of getting the right talent, yet opportunities are within their reach.
\nAccording to a recent survey by technological research and consulting firm Gartner, Inc., attracting talent with nontraditional skills is found to be the top challenge for audit leaders or chief audit executives (CAEs), represented by 57% of the respondents.
\nRelated challenges cited by over half of audit leaders surveyed as important to solve in the next 12 months include: making the leap to more advanced analytics applications (e.g., continuous monitoring, automation and artificial intelligence) (56%); inadequate assurance over cybersecurity (53%); IT auditing practices not keeping pace with the need to audit new technologies and IT risks (53%); and measuring the impact of higher-value activities our team performs (51%).
\n\u201cTop challenges for audit leaders reflect the increasing need for their audit teams to provide assurance over rapidly evolving technologies and expanded digital transformation initiatives,\u201d Gartner\u2019s report noted.
\nThis difficulty in attracting talent to internal audit is even seen as a major factor driving many of the other top challenging facing audit leaders.
\n\u201c[M]any audit leaders also expressed lower confidence in their team\u2019s ability to audit evolving areas, such as cybersecurity, ESG (environmental, social, and governance standard) and talent risks in the broader organization, and increase the department\u2019s use of data analytics and technology,\u201d the report read. \u201cThese areas often require specialized skills audit teams are trying to attract or effectively upskilling existing talent, which also presents its own challenges.\u201d
\nSuch findings mirror what was explored by the Internal Audit Foundation (IAF) of the Institute of Internal Auditors, in collaboration with professional services firm Deloitte, in a research report published last year that assessed internal audit competency.
\nThe report highlighted that while internal auditors are confirmed to have strong competence in core knowledge areas, a critical need is sought for them to have an additional focus on the use of innovative technologies.
\n\u201cBusiness strategy and technology strategy are converging. Today, many business models could not exist without digital technologies, such as cloud-based platforms, automation, machine learning, advanced analytics, and blockchain,\u201d read the report. \u201cDespite the criticality of these technologies, many auditors do not believe they have the skills needed to provide effective assurance and advisory services in these areas.\u201d
\nThese seen gaps, nonetheless, can be considered as opportunities for auditors moving forward.
\n\u201cThis unique point in time offers internal auditors an opportunity to articulate the value they could add to their organizations if adequately enabled by relevant transformative technology and upskilling opportunities,\u201d Mike Schor, risk & financial advisory partner at Deloitte, was quoted as saying in a comment to the report\u2019s findings.
\nOpportunities amid risks
\nIn an annual perspective of its internal audit specialists, Deloitte identified key risks and opportunities that it believes internal auditors should consider in their audit plans this year.
\nAmong the numerous considerations, Deloitte agrees that adopting the ESG standard is imminent in several major economies, and so internal audit should not delay in tackling the issue, \u201cas the stakes are simply too high, with pressure exerted by regulators, investors, customers, third-party affiliates, and society at large.\u201d
\nA challenge internal audit (IA) functions just starting on their ESG journey should brace for is identifying responsible parties within the organization, the firm noted.
\n\u201cOftentimes, we find the CFO (chief financial officer) pointing to investor relations, who look to HR (human resource), which passes the buck to legal, who redirects to marketing. Effective coordination among these groups and a focal point of responsibility will be critical to progress,\u201d Deloitte wrote in the report.
\nDeloitte also recommends initiating training as needed to fill knowledge gaps, both within IA and throughout the organization at large.
\n\u201cInvest in resources with the right experience and skillset to understand, recognize, and assess ESG risks. Consider creating ESG-dedicated position(s) within internal audit to allow for specialized expertise and increased focus,\u201d Deloitte added.
\nIA functions are also encouraged to get involved with organizations as they embark on automation in order to realize business value.
\n\u201cStart by helping management find a balance between risk taking and risk appetite. Connect early in the process, when strategic decisions about automation are first being made. Ideally, the relationship will include both advisory and assurance elements \u2014 helping the organization realize [return of investment] and then providing assurance services for its automation deployment,\u201d Deloitte explained.
\n\u201cSimultaneously, adapt your audit plan to the new environment,\u201d the firm added. \u201cRisk assess new capabilities (impacted business processes, ways of working, and new enabling technologies) across key risk domains, such as financial, operational, regulatory, technology, and strategic, and then prioritize based on impact and vulnerability criteria.\u201d
\nRegarding cybersecurity, CAEs are advised to pay particular attention to leveraging the \u201ccyber cloud skills\u201d of auditors as the cloud bring a concurrent set of risks while enhancing the ability to quickly leverage new capabilities such as AI, machine learning, blockchain, and data lakes.
\n\u201cConsider approaches such as a risk-based \u201cassurance by design\u201d cloud migration strategy; take advantage of native cloud services; and embed security and engage in a multi-cloud strategy. For IT IA, cloud assurance will be a multi-year journey \u2014 not one audit and done,\u201d Deloitte advised. \u2014 Adrian Paul B. Conoza
\n", "content_text": "In the new normal, industries and organizations have been embracing several transformations that were either caused or accelerated by the coronavirus pandemic, such as digital transformation and sustainability. The auditing industry continues to grapple with these changes, especially in terms of getting the right talent, yet opportunities are within their reach.\nAccording to a recent survey by technological research and consulting firm Gartner, Inc., attracting talent with nontraditional skills is found to be the top challenge for audit leaders or chief audit executives (CAEs), represented by 57% of the respondents. \nRelated challenges cited by over half of audit leaders surveyed as important to solve in the next 12 months include: making the leap to more advanced analytics applications (e.g., continuous monitoring, automation and artificial intelligence) (56%); inadequate assurance over cybersecurity (53%); IT auditing practices not keeping pace with the need to audit new technologies and IT risks (53%); and measuring the impact of higher-value activities our team performs (51%).\n\u201cTop challenges for audit leaders reflect the increasing need for their audit teams to provide assurance over rapidly evolving technologies and expanded digital transformation initiatives,\u201d Gartner\u2019s report noted.\nThis difficulty in attracting talent to internal audit is even seen as a major factor driving many of the other top challenging facing audit leaders.\n\u201c[M]any audit leaders also expressed lower confidence in their team\u2019s ability to audit evolving areas, such as cybersecurity, ESG (environmental, social, and governance standard) and talent risks in the broader organization, and increase the department\u2019s use of data analytics and technology,\u201d the report read. \u201cThese areas often require specialized skills audit teams are trying to attract or effectively upskilling existing talent, which also presents its own challenges.\u201d\nSuch findings mirror what was explored by the Internal Audit Foundation (IAF) of the Institute of Internal Auditors, in collaboration with professional services firm Deloitte, in a research report published last year that assessed internal audit competency. \nThe report highlighted that while internal auditors are confirmed to have strong competence in core knowledge areas, a critical need is sought for them to have an additional focus on the use of innovative technologies.\n\u201cBusiness strategy and technology strategy are converging. Today, many business models could not exist without digital technologies, such as cloud-based platforms, automation, machine learning, advanced analytics, and blockchain,\u201d read the report. \u201cDespite the criticality of these technologies, many auditors do not believe they have the skills needed to provide effective assurance and advisory services in these areas.\u201d\nThese seen gaps, nonetheless, can be considered as opportunities for auditors moving forward.\n\u201cThis unique point in time offers internal auditors an opportunity to articulate the value they could add to their organizations if adequately enabled by relevant transformative technology and upskilling opportunities,\u201d Mike Schor, risk & financial advisory partner at Deloitte, was quoted as saying in a comment to the report\u2019s findings.\nOpportunities amid risks\nIn an annual perspective of its internal audit specialists, Deloitte identified key risks and opportunities that it believes internal auditors should consider in their audit plans this year.\nAmong the numerous considerations, Deloitte agrees that adopting the ESG standard is imminent in several major economies, and so internal audit should not delay in tackling the issue, \u201cas the stakes are simply too high, with pressure exerted by regulators, investors, customers, third-party affiliates, and society at large.\u201d\nA challenge internal audit (IA) functions just starting on their ESG journey should brace for is identifying responsible parties within the organization, the firm noted. \n\u201cOftentimes, we find the CFO (chief financial officer) pointing to investor relations, who look to HR (human resource), which passes the buck to legal, who redirects to marketing. Effective coordination among these groups and a focal point of responsibility will be critical to progress,\u201d Deloitte wrote in the report.\nDeloitte also recommends initiating training as needed to fill knowledge gaps, both within IA and throughout the organization at large.\n\u201cInvest in resources with the right experience and skillset to understand, recognize, and assess ESG risks. Consider creating ESG-dedicated position(s) within internal audit to allow for specialized expertise and increased focus,\u201d Deloitte added.\nIA functions are also encouraged to get involved with organizations as they embark on automation in order to realize business value.\n\u201cStart by helping management find a balance between risk taking and risk appetite. Connect early in the process, when strategic decisions about automation are first being made. Ideally, the relationship will include both advisory and assurance elements \u2014 helping the organization realize [return of investment] and then providing assurance services for its automation deployment,\u201d Deloitte explained.\n\u201cSimultaneously, adapt your audit plan to the new environment,\u201d the firm added. \u201cRisk assess new capabilities (impacted business processes, ways of working, and new enabling technologies) across key risk domains, such as financial, operational, regulatory, technology, and strategic, and then prioritize based on impact and vulnerability criteria.\u201d\nRegarding cybersecurity, CAEs are advised to pay particular attention to leveraging the \u201ccyber cloud skills\u201d of auditors as the cloud bring a concurrent set of risks while enhancing the ability to quickly leverage new capabilities such as AI, machine learning, blockchain, and data lakes.\n\u201cConsider approaches such as a risk-based \u201cassurance by design\u201d cloud migration strategy; take advantage of native cloud services; and embed security and engage in a multi-cloud strategy. For IT IA, cloud assurance will be a multi-year journey \u2014 not one audit and done,\u201d Deloitte advised. \u2014 Adrian Paul B. Conoza", "date_published": "2022-08-22T09:00:39+08:00", "date_modified": "2022-08-30T11:13:29+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/SF_audit-g3cf7d4c85_1920-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "auditing", "digital transformation", "Sustainability", "Special Features" ] }, { "id": "/?p=467430", "url": "/special-reports/2022/08/10/467430/an-award-winning-forum-in-the-countrys-business-scene/", "title": "An award-winning forum in the country\u2019s business scene", "content_html": "\r\n \r\n\r\nBy Adrian Paul B. Conoza, Special Features Assistant Editor
\nThe past 35 years have seen 大象传媒 evolving from solely a newspaper covering business developments to a platform for events where its intended audience get to hear discussions about the latest insights and outlooks. Among these events that the media outfit holds regularly, the 大象传媒 Economic Forum has established itself as one of the most-awaited annual gatherings for the Philippine business community.
\nThe forum started in 2016, when 大象传媒 saw potential in mounting an annual on-ground large-scale event as an additional revenue stream and content platform. By that time, the newspaper industry started seeing a continuous decline in print revenue.
\nThe inaugural Economic Forum was themed \u201cCharting Progress to 2020,\u201d with MVP Group of Companies Chairman Manuel V. Pangilinan, former Finance Secretary Carlos G. Dominguez III, and former Vice-President Maria Leonor G. Robredo as key speakers, alongside several panelists from both public and private sectors. The forum was attended by 850 top executives, business owners, and decision-makers from different sectors in the country.
\nSucceeding editions further made the Economic Forum an event that the business community cannot afford to miss since it highlights the latest key issues, developments, challenges, and opportunities shaping the economy.
\nBringing these things to the fore has been the forum\u2019s trademark, 大象传媒 Executive Vice-President Lucien C. Dy Tioco noted.
\n\u201cThe Economic Forum really speaks of 大象传媒\u2019s clout over the business community, and it has served as the brand\u2019s premium that people have regarded as the benchmark for knowing the state of our economy,\u201d he shared in an interview.
\nThe annual 大象传媒 Economic Forum is also notable for bringing together government officials, executives, thought leaders, and industry experts from the country and even abroad in one place.
\n\u201cIt (the forum) helps bridge the gap between the private and public sector, and it gives them the opportunity to dialogue and eventually work together for the benefit and growth of the country as a whole,\u201d 大象传媒 Sales and Marketing Director Jay R. Sarmiento shared.
\n\u201cEven when we were doing a physical event (of the forum), you could really see the people who are the \u2018Who\u2019s Who\u2019 of business in one place. That is remarkable, which you don\u2019t see in other business conferences,\u201d Mr. Dy Tioco added.
\nYear 2020 brought a long lockdown across the country due to the coronavirus disease 2019 (COVID-19) pandemic, but this did not stop 大象传媒 from holding the forum. Instead, it shifted from on-site to online in November that year as the 大象传媒 Virtual Economic Forum (BWVEF), with the theme \u201cForecasts 2021: Reboot. ReThink. ReShape.\u201d
\nThat edition had 43 local and international personalities, including B\u00f8rge Brende of the World Economic Forum (WEF), Bernardo Mariano, Jr. of the World Health Organization, Ndiam\u00e9 Diop of World Bank, and Kelly Bird of Asian Development Bank (ADB). The discussions focused on how businesses and the economy can move forward amid the pandemic, with topics like \u201cThe Great Reset,\u201d COVID-19 vaccination, digital transformation, and \u201cnew normal\u201d trends, among others.
\nAs digitalization has accelerated during the pandemic \u2014 from businesses digitally upgrading their operations to consumers turning to digital tools for work and transactions \u2014 大象传媒 put the digital economy in focus with a special edition of the BWVEF, themed \u201cThe Digital Economy PH: Towards a Faster Economic Recovery,\u201d in May 2021.
\nKeynote addresses were delivered by Fernando Zobel De Ayala, president and chief executive officer (CEO) of Ayala Corp.; Bernadette Nacario, country director of Google Philippines; and Kais Marzouki, chairman and CEO of Nestl\u00e9 Philippines. Discussions centered on bridging the \u2018digital divide,\u2019 hybrid work, and omnichannel strategies, to name a few.
\nThe following November, the virtual forum brought together almost 50 international and local experts to draw and form the \u201cRecovery Roadmap PH: 2022 and Beyond.\u201d This edition was highlighted by keynote presentations from Changyong Rhee of the International Monetary Fund and Francisco Betti of the WEF. Discussions tackled pandemic-led shifts, business resilience and sustainability, emerging industries, and connectivity, smart cities, climate change, and circular economy, among many others.
\n\u201cIt really showcases the Philippines\u2019 resiliency… because we have provided several cases where there have been success stories and several innovations by the Filipino business community,\u201d Mr. Dy Tioco said of the 2021 edition.
\nConversations on moving forward in the new normal continued last May when the forum delved into the various accelerated and emerging changes that are set to influence businesses in the near future.
\nWith the theme \u201cRevolutions 2022: Navigating the Changed World,\u201d the recent BWVEF featured presentations on four tracks characterizing the \u2018revolutions\u2019 that are set to define the global landscape, namely Sustainability, Industrial, Internet, and Human Revolutions.
\nAn economic outlook and agenda for developing Asia, delivered by ADB Chief Economist Albert Park, set the tone for the forum\u2019s track presentations and related discussions, which covered topics like transformations in corporate leadership, setting net-zero targets, shifting business game plans, the metaverse, and the \u201cGreat Resignation\u201d trend, among others.
\nBWVEF has been hosted on an interactive platform featuring a 360-view degree, animated videos mimicking a physical venue; an open room for networking opportunities; exhibit hall; live polls; photo booth; and a comments and questions tab for interaction with the speakers.
\nMEANINGFUL DIVERSIFICATION
\nWith the insightful discussions it has held with top local and global minds, the 大象传媒 Virtual Economic Forum has become a valuable asset for 大象传媒, making the brand further stand out among other media companies. Along with other digital-focused initiatives, the forum has helped the company ride the disruptive tides of the pandemic.
The BWVEF in 2020 is notable for having gathered 1,200 attendees, with 40% of attendees comprising C-level executives and department heads. Going beyond its target attendees by 108%, BWVEF 2021 had a total of 538 attendees, 66% of which are presidents, vice-presidents, C-level executives, directors, and regional heads. BWVEF 2022, on the other hand, garnered 651 registrants.
\nComplementing these numbers, feedback from attendees, speakers, and sponsors further shows the forum\u2019s established relevance.
\n\u201cThe expressions of gratitude given to us by the attendees from the comments box, the positive feedback from speakers as well as their willingness to always accept our invitation, the influx of new sponsors, and the other sponsors\u2019 continued patronage of our forum from physical to digital are clear proof of the success of the forum,\u201d Ms. Sarmiento shared.
\nFurther testifying to the Economic Forum\u2019s solid relevance are recent recognitions 大象传媒 received from esteemed award-giving bodies.
\nThe first BWVEF is among the winning entries in the 19th Philippine Quill Awards, which honors the best communication programs, tools, and research projects. That edition is also one of the top contenders under the Communication Skills division of the awards program. The top awardees of the 19th Philippine Quill Awards will be announced on Aug. 18.
\nBWVEF 2021, meanwhile, won a special award from the 21st Asian Media Awards (AMA) of the World Association of News Publishers, the global organization of the world\u2019s press.
\nThe said edition was given a special Silver award for the Best Revenue Diversification Project/Product/Service under small/medium news media companies with annual revenue of less than US$10 million. The category recognizes \u201cnew innovative news-related projects/products/services which engage audiences and increase media brand awareness while creating a new and sustainable revenue stream.\u201d
\nFor 大象传媒 Editor-in-Chief Wilfredo G. Reyes, this most recent award proves how 大象传媒 can effectively and productively transcend from the paper into a very different platform.
\n\u201cThis achievement acknowledged our ability to promptly seize opportunities to produce and deliver content, and at the same time earn from doing so. Meaningful revenue diversification has been newspapers\u2019 elusive quest for decades,\u201d Mr. Reyes said.
\nWith the special award from AMA, 大象传媒 joins this year\u2019s roster of reputable Asian publications, which include Japan\u2019s Nikkei Asia, Hong Kong\u2019s South China Morning Post, Singapore\u2019s SPH Media, and Indonesia\u2019s Media Indonesia.
\n\u201cI just feel that our win on the Asian stage is just one step over being recognized globally,\u201d Mr. Dy Tioco shared.
\nThe next 大象传媒 Economic Forum is planned to be held this November in a hybrid mode. Delegates can choose between attending online or on-site.
\n\u201cWe\u2019re really excited because it\u2019s a chance to be seeing face-to-face again. Fingers crossed, hopefully, there\u2019s nothing untoward that will happen by that time,\u201d Mr. Dy Tioco said.
\n", "content_text": "1 of 2\r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n\r\n \r\n \nBy Adrian Paul B. Conoza, Special Features Assistant Editor\nThe past 35 years have seen 大象传媒 evolving from solely a newspaper covering business developments to a platform for events where its intended audience get to hear discussions about the latest insights and outlooks. Among these events that the media outfit holds regularly, the 大象传媒 Economic Forum has established itself as one of the most-awaited annual gatherings for the Philippine business community.\nThe forum started in 2016, when 大象传媒 saw potential in mounting an annual on-ground large-scale event as an additional revenue stream and content platform. By that time, the newspaper industry started seeing a continuous decline in print revenue.\nThe inaugural Economic Forum was themed \u201cCharting Progress to 2020,\u201d with MVP Group of Companies Chairman Manuel V. Pangilinan, former Finance Secretary Carlos G. Dominguez III, and former Vice-President Maria Leonor G. Robredo as key speakers, alongside several panelists from both public and private sectors. The forum was attended by 850 top executives, business owners, and decision-makers from different sectors in the country.\nSucceeding editions further made the Economic Forum an event that the business community cannot afford to miss since it highlights the latest key issues, developments, challenges, and opportunities shaping the economy.\nBringing these things to the fore has been the forum\u2019s trademark, 大象传媒 Executive Vice-President Lucien C. Dy Tioco noted.\n\u201cThe Economic Forum really speaks of 大象传媒\u2019s clout over the business community, and it has served as the brand\u2019s premium that people have regarded as the benchmark for knowing the state of our economy,\u201d he shared in an interview.\nThe annual 大象传媒 Economic Forum is also notable for bringing together government officials, executives, thought leaders, and industry experts from the country and even abroad in one place.\n\u201cIt (the forum) helps bridge the gap between the private and public sector, and it gives them the opportunity to dialogue and eventually work together for the benefit and growth of the country as a whole,\u201d 大象传媒 Sales and Marketing Director Jay R. Sarmiento shared.\n\u201cEven when we were doing a physical event (of the forum), you could really see the people who are the \u2018Who\u2019s Who\u2019 of business in one place. That is remarkable, which you don\u2019t see in other business conferences,\u201d Mr. Dy Tioco added.\nYear 2020 brought a long lockdown across the country due to the coronavirus disease 2019 (COVID-19) pandemic, but this did not stop 大象传媒 from holding the forum. Instead, it shifted from on-site to online in November that year as the 大象传媒 Virtual Economic Forum (BWVEF), with the theme \u201cForecasts 2021: Reboot. ReThink. ReShape.\u201d\nThat edition had 43 local and international personalities, including B\u00f8rge Brende of the World Economic Forum (WEF), Bernardo Mariano, Jr. of the World Health Organization, Ndiam\u00e9 Diop of World Bank, and Kelly Bird of Asian Development Bank (ADB). The discussions focused on how businesses and the economy can move forward amid the pandemic, with topics like \u201cThe Great Reset,\u201d COVID-19 vaccination, digital transformation, and \u201cnew normal\u201d trends, among others.\nAs digitalization has accelerated during the pandemic \u2014 from businesses digitally upgrading their operations to consumers turning to digital tools for work and transactions \u2014 大象传媒 put the digital economy in focus with a special edition of the BWVEF, themed \u201cThe Digital Economy PH: Towards a Faster Economic Recovery,\u201d in May 2021.\nKeynote addresses were delivered by Fernando Zobel De Ayala, president and chief executive officer (CEO) of Ayala Corp.; Bernadette Nacario, country director of Google Philippines; and Kais Marzouki, chairman and CEO of Nestl\u00e9 Philippines. Discussions centered on bridging the \u2018digital divide,\u2019 hybrid work, and omnichannel strategies, to name a few.\nThe following November, the virtual forum brought together almost 50 international and local experts to draw and form the \u201cRecovery Roadmap PH: 2022 and Beyond.\u201d This edition was highlighted by keynote presentations from Changyong Rhee of the International Monetary Fund and Francisco Betti of the WEF. Discussions tackled pandemic-led shifts, business resilience and sustainability, emerging industries, and connectivity, smart cities, climate change, and circular economy, among many others.\n\u201cIt really showcases the Philippines\u2019 resiliency… because we have provided several cases where there have been success stories and several innovations by the Filipino business community,\u201d Mr. Dy Tioco said of the 2021 edition.\nConversations on moving forward in the new normal continued last May when the forum delved into the various accelerated and emerging changes that are set to influence businesses in the near future.\nWith the theme \u201cRevolutions 2022: Navigating the Changed World,\u201d the recent BWVEF featured presentations on four tracks characterizing the \u2018revolutions\u2019 that are set to define the global landscape, namely Sustainability, Industrial, Internet, and Human Revolutions.\nAn economic outlook and agenda for developing Asia, delivered by ADB Chief Economist Albert Park, set the tone for the forum\u2019s track presentations and related discussions, which covered topics like transformations in corporate leadership, setting net-zero targets, shifting business game plans, the metaverse, and the \u201cGreat Resignation\u201d trend, among others.\nBWVEF has been hosted on an interactive platform featuring a 360-view degree, animated videos mimicking a physical venue; an open room for networking opportunities; exhibit hall; live polls; photo booth; and a comments and questions tab for interaction with the speakers.\nMEANINGFUL DIVERSIFICATION\nWith the insightful discussions it has held with top local and global minds, the 大象传媒 Virtual Economic Forum has become a valuable asset for 大象传媒, making the brand further stand out among other media companies. Along with other digital-focused initiatives, the forum has helped the company ride the disruptive tides of the pandemic.\nThe BWVEF in 2020 is notable for having gathered 1,200 attendees, with 40% of attendees comprising C-level executives and department heads. Going beyond its target attendees by 108%, BWVEF 2021 had a total of 538 attendees, 66% of which are presidents, vice-presidents, C-level executives, directors, and regional heads. BWVEF 2022, on the other hand, garnered 651 registrants.\nComplementing these numbers, feedback from attendees, speakers, and sponsors further shows the forum\u2019s established relevance.\n\u201cThe expressions of gratitude given to us by the attendees from the comments box, the positive feedback from speakers as well as their willingness to always accept our invitation, the influx of new sponsors, and the other sponsors\u2019 continued patronage of our forum from physical to digital are clear proof of the success of the forum,\u201d Ms. Sarmiento shared.\nFurther testifying to the Economic Forum\u2019s solid relevance are recent recognitions 大象传媒 received from esteemed award-giving bodies.\nThe first BWVEF is among the winning entries in the 19th Philippine Quill Awards, which honors the best communication programs, tools, and research projects. That edition is also one of the top contenders under the Communication Skills division of the awards program. The top awardees of the 19th Philippine Quill Awards will be announced on Aug. 18.\nBWVEF 2021, meanwhile, won a special award from the 21st Asian Media Awards (AMA) of the World Association of News Publishers, the global organization of the world\u2019s press. \nThe said edition was given a special Silver award for the Best Revenue Diversification Project/Product/Service under small/medium news media companies with annual revenue of less than US$10 million. The category recognizes \u201cnew innovative news-related projects/products/services which engage audiences and increase media brand awareness while creating a new and sustainable revenue stream.\u201d\nFor 大象传媒 Editor-in-Chief Wilfredo G. Reyes, this most recent award proves how 大象传媒 can effectively and productively transcend from the paper into a very different platform.\n\u201cThis achievement acknowledged our ability to promptly seize opportunities to produce and deliver content, and at the same time earn from doing so. Meaningful revenue diversification has been newspapers\u2019 elusive quest for decades,\u201d Mr. Reyes said.\nWith the special award from AMA, 大象传媒 joins this year\u2019s roster of reputable Asian publications, which include Japan\u2019s Nikkei Asia, Hong Kong\u2019s South China Morning Post, Singapore\u2019s SPH Media, and Indonesia\u2019s Media Indonesia.\n\u201cI just feel that our win on the Asian stage is just one step over being recognized globally,\u201d Mr. Dy Tioco shared.\nThe next 大象传媒 Economic Forum is planned to be held this November in a hybrid mode. Delegates can choose between attending online or on-site.\n\u201cWe\u2019re really excited because it\u2019s a chance to be seeing face-to-face again. Fingers crossed, hopefully, there\u2019s nothing untoward that will happen by that time,\u201d Mr. Dy Tioco said.", "date_published": "2022-08-10T15:44:10+08:00", "date_modified": "2022-08-11T09:37:33+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/bw35-e1660124016995.jpg", "tags": [ "Adrian Paul B. Conoza", "bw35", "Special Reports" ], "summary": "The past 35 years have seen 大象传媒 evolving from solely a newspaper covering business developments to a platform for events where its intended audience get to hear discussions about the latest insights and outlooks. Among these events that the media outfit holds regularly, the 大象传媒 Economic Forum has established itself as one of the most-awaited annual gatherings for the Philippine business community." }, { "id": "/?p=467428", "url": "/special-reports/2022/08/10/467428/timely-notes-on-managing-crises-and-bracing-for-new-periods/", "title": "Timely notes on managing crises and bracing for new periods", "content_html": "\r\n \r\n\r\nBy Adrian Paul B. Conoza, Special Features Assistant Editor
\nEarlier in the first months of the coronavirus pandemic, business owners, executives, and teams were in search of guidance for managing and surviving the massive impacts and disruptions brought or exacerbated by the said crisis. 大象传媒, as it kept a close eye on the country\u2019s economic narrative amid the pandemic, has endeavored to get insights from top executives and experts that will greatly help the business community at such a challenging time.
\nWhile the award-winning 大象传媒 Insights and 大象传媒 Virtual Economic Forum have primarily fulfilled these objectives, it was the media outfit\u2019s one-on-one interviews with top movers in business where inspiring learnings on moving forward amid the pandemic were mined. And as the Philippines has opened a new chapter with a new administration taking over around a month ago, 大象传媒 also gleaned firsthand views of the potential makeup of the country\u2019s economic policy.
\nLaunched in July 2020 as part of its 33rd anniversary multimedia report, 大象传媒 One-on-One has served as an exclusive venue for top business people to be interviewed by 大象传媒 Editor-in-Chief Wilfredo G. Reyes.
\nMr. Reyes noted how the interviews help audiences take notes from executives on what they have learned during the pandemic, which perhaps can be appended to their organizations\u2019 respective playbooks.
\n\u201cThere\u2019s been a wealth of information on best practices built in the past two years on crisis management, taking better care of talent, and developing new revenue streams,\u201d Mr. Reyes shared.
\n\u201cEvery One-on-One interview is an opportunity to learn from the experiences of other sectors. Many times, you get great tips that can be adapted to one\u2019s situation, so these interviews contribute to our continuing accumulation of knowledge,\u201d he added.
\nThe first iteration of the interview series was themed \u201cA Time for Leadership and Resilience,\u201d which featured business leaders sharing their defining moments in the midst of the global pandemic, as well as learnings on surviving and performing amid economic shocks.
\nFirst to be featured in the week-long series was Joo-Ok Lee, head of regional agenda, Asia-Pacific at the World Economic Forum. He shared that holistic and systematic approaches are much needed in dealing with challenges as complex as the pandemic. \u201cIncreasingly, challenges that we will see are going to be more interconnected. They will be more complicated, and unless there is a holistic approach, unless there is a systematic and systems-driven approach, these issues will be very, very difficult to resolve,\u201d he was quoted as saying.
\nIn the following episode, Emmanuel P. Maceda, worldwide managing partner at Bain & Company, talked about a \u201cmicro-battle\u201d means of balancing companies\u2019 investment strategies. \u201cThe idea of a micro-battle concept is to define units of strategic choice in smaller terms, in micro-terms so that you can see the results faster, then you can build the second micro-battle and the second micro-battle after that,\u201d he said.
\nLooking after employees, meanwhile, was a highlight of the interview with Nina D. Aguas, executive chairman of Insular Life Assurance Co. Ltd. \u201cReally look out for the people within your organization because they will carry it through the very difficult times,\u201d Ms. Aguas advised.
\nMVP Group of Companies Chairman Manuel V. Pangilinan, in another episode, shared that the pandemic could bring out the \u201cnext big idea,\u201d and the person with such an idea \u201cwill probably win.\u201d
\nCompleting the series, Globe Telecom President and Chief Executive Officer (CEO) Ernest L. Cu shared that their company conditioned themselves on the notion that recovery will take time \u2014 something other businesses must have also kept in mind in the past months.
\n\u201cWe have to make this a working condition and the given that we have to get around with, just like any other business constraint that we are used to,\u201d he said.
\nThe following year, in conjunction with a joint special report with The Philippine STAR titled \u201cPhilippine Business Outlook 2021: Towards a More Resilient and Sustainable Economy,\u201d 大象传媒 held a One-on-One interview with Benjamin E. Diokno, formerly Bangko Sentral ng Pilipinas (BSP) Governor and now Department of Finance Secretary.
\nIn that interview, Mr. Diokno expressed optimism regarding the recovery of the Philippine economy in terms of gross domestic product growth, remittances from overseas Filipino workers, and employment rate amid a \u201cyoung population.\u201d The previous BSP governor also noted there that the country\u2019s push for a \u2018cash-lite\u2019 society is bound to continue, and it might go as far as going coinless by 2025.
\nThree months after, 大象传媒\u2019s motoring sectionVelocity, in celebration of its anniversary, held a two-part One-On-One interview with the country\u2019s automotive industry leaders. Velocity editor, Kap Maceda Aguila, had virtual exchanges with Atty. Rommel Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines, Inc., on his perspectives about the Philippine automotive industry; and with Maria Fe Perez-Agudo, president of the Association of Vehicle Importers and Distributors, Inc., about future innovations paving the industry\u2019s future track.
\nThe following April, 大象传媒 One-on-One put the spotlight on Yasuyuki Sawada, then chief economist of the Asian Development Bank, as he and Mr. Reyes took a deep dive into the multilateral lender\u2019s 202 1 Asian Development Outlook.
\nFive months later, as 大象传媒 marks its 34th anniversary in September, another weeklong One-on-One series was held, this time with four Philippine business tycoons. Each shared their experiences and realizations out of the pandemic, as well as their company\u2019s resilience stories and updated visions.
\nKevin L. Tan, chief executive officer of the Alliance Global Group, Inc., shared in the first episode that the township concept of the company\u2019s real estate arm Megaworld Corp. became \u201cideal and quite compelling\u201d amid the pandemic, and so he believes this concept \u201ccan be a catalyst for economic development in other cities.\u201d Grounded on this belief, Megaworld announced its plans to launch three townships within Luzon that year.
\nMeanwhile, moving to a digital and omnichannel strategy is seen to drive a leading retail company forward even beyond the pandemic. Robina Y. Gokongwei-Pe, president and CEO of Robinsons Retail Holdings, Inc. (RRHI), shared in the second installment that as their company pivoted to e-commerce fast, \u201cthe percentage contribution of e-commerce to total sales is growing very fast.\u201d So, while brick-and-mortar stores have made up for a big part of total sales, RRHI has planned on working on its presence both offline and online.
\nHealth and sustainability were the highlight of the One-on-One with Monde Nissin Corp. President and Director Betty T. Ang as she shared that the company saw \u201csignificant progress\u201d in several of its long-term growth plans in production capacity, new product developments, and brand awareness initiatives. \u201cOur ramped-up research and development is focused on new product development that is aligned with our aspirations for sustainability and health for customers and for the planet,\u201d she was quoted as saying.
\nDennis Anthony H. Uy, founder & CEO of Converge ICT Solutions, Inc., completed the series by sharing his company\u2019s target up to P26 billion in gross revenue by end-2021 and 55% nationwide household coverage by 2025 as demand for connectivity increases. He stressed that fiber broadband technology, which Converge delivers, can best deliver a minimum of 500 gigabytes for every individual home.
\nIn line with its 35th anniversary celebration, another engaging 大象传媒 One-on-One series, with the theme \u201cInnovations Reshaping the Future of Key Industries,\u201d is shown live and free in 大象传媒\u2019s Facebook page this month.
\nMr. Reyes conversed with Dr. Diana Edralin, president of Pharmaceutical and Healthcare Assocation of the Philippines and general manager of Roche Philippines, and Subra Ramakrishnan, chief business transformation officer of Sun Life Philippines, last Aug. 15 and 16, respectively.
\nThese will be followed by interviews with Jose Maria M. Atienza, senior vice-president of Toyota Motor Philippines Corp., on Aug. 22; and with Jericho P. Go, president and chief executive officer of RL Commercial REIT, Inc., on Aug. 23.
\nRoundtables
\nThis year, a few weeks before the new administration started taking office, 大象传媒 brought to the online public two roundtables of 大象传媒 editors with some of the key people making up the administration\u2019s economic team.
\nThemed \u201cThe View from the Starting Line,\u201d 大象传媒 Roundtable featured BSP Governor Felipe M. Medalla and Socioeconmic Planning Secretary Arsenio M. Balisacan last June 20 and June 27, respectively.
\nMr. Medalla told 大象传媒 editors that the BSP is likely to raise its key interest rate at its next two meetings to curb inflation, while the pace of subsequent tightening will be gradual. He also shared that \u201c2022 will be a high-growth year, simply because of the huge pent-up demand.\u201d
\nMr. Balisacan, meanwhile, shared that new taxes may have to be introduced to fund priority projects, but they should be carefully timed. \u201cIf you want more public services, if you want to invest a lot into our health and education, and social sector, and to our farmers, you must have sources of money for that. Obviously, you can only go so far with an improved tax administration,\u201d he was quoted as saying.
\nThe current National Economic and Development Authority chief also shared during the roundtable that he seeks better coordination with the 19th Congress on priority bills and the 2023 national budget, and so he considers frequent meetings with legislators through the Legislative-Executive Development Advisory Council.
\n", "content_text": "1 of 4\r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n Former Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n 大象传媒 Editor-in-Chief Wilfredo G. Reyes (left) with former Asian Development Bank Chief Economist Yasuyuki Sawada in a separate 大象传媒 One-on-One sessions in 2021.\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n\r\n \r\n \nBy Adrian Paul B. Conoza, Special Features Assistant Editor\nEarlier in the first months of the coronavirus pandemic, business owners, executives, and teams were in search of guidance for managing and surviving the massive impacts and disruptions brought or exacerbated by the said crisis. 大象传媒, as it kept a close eye on the country\u2019s economic narrative amid the pandemic, has endeavored to get insights from top executives and experts that will greatly help the business community at such a challenging time.\nWhile the award-winning 大象传媒 Insights and 大象传媒 Virtual Economic Forum have primarily fulfilled these objectives, it was the media outfit\u2019s one-on-one interviews with top movers in business where inspiring learnings on moving forward amid the pandemic were mined. And as the Philippines has opened a new chapter with a new administration taking over around a month ago, 大象传媒 also gleaned firsthand views of the potential makeup of the country\u2019s economic policy.\nLaunched in July 2020 as part of its 33rd anniversary multimedia report, 大象传媒 One-on-One has served as an exclusive venue for top business people to be interviewed by 大象传媒 Editor-in-Chief Wilfredo G. Reyes.\nMr. Reyes noted how the interviews help audiences take notes from executives on what they have learned during the pandemic, which perhaps can be appended to their organizations\u2019 respective playbooks.\n\u201cThere\u2019s been a wealth of information on best practices built in the past two years on crisis management, taking better care of talent, and developing new revenue streams,\u201d Mr. Reyes shared.\n\u201cEvery One-on-One interview is an opportunity to learn from the experiences of other sectors. Many times, you get great tips that can be adapted to one\u2019s situation, so these interviews contribute to our continuing accumulation of knowledge,\u201d he added.\nThe first iteration of the interview series was themed \u201cA Time for Leadership and Resilience,\u201d which featured business leaders sharing their defining moments in the midst of the global pandemic, as well as learnings on surviving and performing amid economic shocks.\nFirst to be featured in the week-long series was Joo-Ok Lee, head of regional agenda, Asia-Pacific at the World Economic Forum. He shared that holistic and systematic approaches are much needed in dealing with challenges as complex as the pandemic. \u201cIncreasingly, challenges that we will see are going to be more interconnected. They will be more complicated, and unless there is a holistic approach, unless there is a systematic and systems-driven approach, these issues will be very, very difficult to resolve,\u201d he was quoted as saying.\nIn the following episode, Emmanuel P. Maceda, worldwide managing partner at Bain & Company, talked about a \u201cmicro-battle\u201d means of balancing companies\u2019 investment strategies. \u201cThe idea of a micro-battle concept is to define units of strategic choice in smaller terms, in micro-terms so that you can see the results faster, then you can build the second micro-battle and the second micro-battle after that,\u201d he said.\nLooking after employees, meanwhile, was a highlight of the interview with Nina D. Aguas, executive chairman of Insular Life Assurance Co. Ltd. \u201cReally look out for the people within your organization because they will carry it through the very difficult times,\u201d Ms. Aguas advised.\nMVP Group of Companies Chairman Manuel V. Pangilinan, in another episode, shared that the pandemic could bring out the \u201cnext big idea,\u201d and the person with such an idea \u201cwill probably win.\u201d\nCompleting the series, Globe Telecom President and Chief Executive Officer (CEO) Ernest L. Cu shared that their company conditioned themselves on the notion that recovery will take time \u2014 something other businesses must have also kept in mind in the past months.\n\u201cWe have to make this a working condition and the given that we have to get around with, just like any other business constraint that we are used to,\u201d he said.\nThe following year, in conjunction with a joint special report with The Philippine STAR titled \u201cPhilippine Business Outlook 2021: Towards a More Resilient and Sustainable Economy,\u201d 大象传媒 held a One-on-One interview with Benjamin E. Diokno, formerly Bangko Sentral ng Pilipinas (BSP) Governor and now Department of Finance Secretary.\nIn that interview, Mr. Diokno expressed optimism regarding the recovery of the Philippine economy in terms of gross domestic product growth, remittances from overseas Filipino workers, and employment rate amid a \u201cyoung population.\u201d The previous BSP governor also noted there that the country\u2019s push for a \u2018cash-lite\u2019 society is bound to continue, and it might go as far as going coinless by 2025.\nThree months after, 大象传媒\u2019s motoring sectionVelocity, in celebration of its anniversary, held a two-part One-On-One interview with the country\u2019s automotive industry leaders. Velocity editor, Kap Maceda Aguila, had virtual exchanges with Atty. Rommel Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines, Inc., on his perspectives about the Philippine automotive industry; and with Maria Fe Perez-Agudo, president of the Association of Vehicle Importers and Distributors, Inc., about future innovations paving the industry\u2019s future track.\nThe following April, 大象传媒 One-on-One put the spotlight on Yasuyuki Sawada, then chief economist of the Asian Development Bank, as he and Mr. Reyes took a deep dive into the multilateral lender\u2019s 202 1 Asian Development Outlook.\nFive months later, as 大象传媒 marks its 34th anniversary in September, another weeklong One-on-One series was held, this time with four Philippine business tycoons. Each shared their experiences and realizations out of the pandemic, as well as their company\u2019s resilience stories and updated visions.\nKevin L. Tan, chief executive officer of the Alliance Global Group, Inc., shared in the first episode that the township concept of the company\u2019s real estate arm Megaworld Corp. became \u201cideal and quite compelling\u201d amid the pandemic, and so he believes this concept \u201ccan be a catalyst for economic development in other cities.\u201d Grounded on this belief, Megaworld announced its plans to launch three townships within Luzon that year.\nMeanwhile, moving to a digital and omnichannel strategy is seen to drive a leading retail company forward even beyond the pandemic. Robina Y. Gokongwei-Pe, president and CEO of Robinsons Retail Holdings, Inc. (RRHI), shared in the second installment that as their company pivoted to e-commerce fast, \u201cthe percentage contribution of e-commerce to total sales is growing very fast.\u201d So, while brick-and-mortar stores have made up for a big part of total sales, RRHI has planned on working on its presence both offline and online.\nHealth and sustainability were the highlight of the One-on-One with Monde Nissin Corp. President and Director Betty T. Ang as she shared that the company saw \u201csignificant progress\u201d in several of its long-term growth plans in production capacity, new product developments, and brand awareness initiatives. \u201cOur ramped-up research and development is focused on new product development that is aligned with our aspirations for sustainability and health for customers and for the planet,\u201d she was quoted as saying.\nDennis Anthony H. Uy, founder & CEO of Converge ICT Solutions, Inc., completed the series by sharing his company\u2019s target up to P26 billion in gross revenue by end-2021 and 55% nationwide household coverage by 2025 as demand for connectivity increases. He stressed that fiber broadband technology, which Converge delivers, can best deliver a minimum of 500 gigabytes for every individual home.\nIn line with its 35th anniversary celebration, another engaging 大象传媒 One-on-One series, with the theme \u201cInnovations Reshaping the Future of Key Industries,\u201d is shown live and free in 大象传媒\u2019s Facebook page this month.\nMr. Reyes conversed with Dr. Diana Edralin, president of Pharmaceutical and Healthcare Assocation of the Philippines and general manager of Roche Philippines, and Subra Ramakrishnan, chief business transformation officer of Sun Life Philippines, last Aug. 15 and 16, respectively.\nThese will be followed by interviews with Jose Maria M. Atienza, senior vice-president of Toyota Motor Philippines Corp., on Aug. 22; and with Jericho P. Go, president and chief executive officer of RL Commercial REIT, Inc., on Aug. 23.\nRoundtables\nThis year, a few weeks before the new administration started taking office, 大象传媒 brought to the online public two roundtables of 大象传媒 editors with some of the key people making up the administration\u2019s economic team.\nThemed \u201cThe View from the Starting Line,\u201d 大象传媒 Roundtable featured BSP Governor Felipe M. Medalla and Socioeconmic Planning Secretary Arsenio M. Balisacan last June 20 and June 27, respectively.\nMr. Medalla told 大象传媒 editors that the BSP is likely to raise its key interest rate at its next two meetings to curb inflation, while the pace of subsequent tightening will be gradual. He also shared that \u201c2022 will be a high-growth year, simply because of the huge pent-up demand.\u201d\nMr. Balisacan, meanwhile, shared that new taxes may have to be introduced to fund priority projects, but they should be carefully timed. \u201cIf you want more public services, if you want to invest a lot into our health and education, and social sector, and to our farmers, you must have sources of money for that. Obviously, you can only go so far with an improved tax administration,\u201d he was quoted as saying.\nThe current National Economic and Development Authority chief also shared during the roundtable that he seeks better coordination with the 19th Congress on priority bills and the 2023 national budget, and so he considers frequent meetings with legislators through the Legislative-Executive Development Advisory Council.", "date_published": "2022-08-10T15:40:27+08:00", "date_modified": "2022-08-17T14:28:14+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/SF_One-on-One-July-2022.jpg", "tags": [ "Adrian Paul B. Conoza", "bw35", "Special Reports" ], "summary": "Earlier in the first months of the coronavirus pandemic, business owners, executives, and teams were in search of guidance for managing and surviving the massive impacts and disruptions brought or exacerbated by the said crisis." }, { "id": "/?p=467375", "url": "/special-reports/2022/08/10/467375/businessworld-and-brands-evolving-synergies-grounded-on-solid-trust/", "title": "大象传媒 and brands: Evolving synergies grounded on solid trust", "content_html": "\r\n \r\n\r\nBy Adrian Paul B. Conoza, Special Features Assistant Editor
\nAlong with the reputation 大象传媒 has established with the business community and the general public, another contributing factor to the paper\u2019s continuing success for 35 years is the trust it has built with top brands and advertisers.
\nThrough the years, brands have not only regularly kept in touch with 大象传媒 for the placement of their advertisements in print and for sponsorships for in events. More recently, brands have also collaborated on projects where their messages have been amplified on 大象传媒\u2019s various platforms.
\nThis growing synergy 大象传媒 has had with brands, for Executive Vice-President Lucien C. Dy Tioco, is generally built on the long-stand trust the media and content company has built for its excellence and quality in economic journalism.
\n\u201cIt boils down to three factors: our credibility that we have established over the years, our clout and influence over the business community, and the quality of content that we produce which is very attuned to the needs of the business community,\u201d Mr. Dy Tioco said.
\n\u201cI think one of the reasons why advertisers choose to work with us for their content over and over again is because we have managed to maintain our integrity despite the changing times. They know, respect, and value our journalism standards and editorial guidelines. There\u2019s no need to sacrifice our own brand of integrity to better serve our advertisers,\u201d 大象传媒 Special Features Editor Josielyn Luna-Manuel added.
\nThese defining trademarks of 大象传媒 have been the solid convictions for Cocolife, one of the paper\u2019s top advertisers, to let their messages be amplified through 大象传媒\u2019s features and platforms, as the insurer\u2019s president Atty. Martin B. Loon, shared.
\nSharing the same vision with 大象传媒 has been a solid factor for another top advertiser, Toyota Motor Philippines (TMP).
\n“Over the years, 大象传媒 has been one of our trusted partners in delivering information about our products and services to our customers. This partnership with 大象传媒 over 3 decades has made us achieve our common vision of helping build and transform the industry for the better,” TMP First Vice-President for Vehicle Services Operations Sherwin Chualim said in an e-mail.
\n\u201cAs the first Filipino-owned and ISO-certified Life Insurance company, it has been our mission to help Filipinos reach their goals, financial or otherwise, in any way that we could assist them. Needless to say, 大象传媒 shares the same sentiment as us, and they too \u2018Believe in the Filipino\u2019 as much as we do,\u201d he said.
\nIn addition, Jay R. Sarmiento, 大象传媒\u2019s sales and marketing director, credited the people in her department for making the brand partnerships and advertising deals productive for both ends.
\n\u201cWe have the best Sales and Marketing team who deliver what we promise to advertisers. The Sales and Marketing team, as well as the Special Features team, are organized and consistent when it comes to servicing the needs of the clients,\u201d Ms. Sarmiento said.
\nMs. Manuel described how close collaboration with advertisers has made it possible for the whole 大象传媒 Sales and Marketing department, which includes the Special Features team, to come up with projects that \u201chelp brands effectively reach out to their target market and our audience, and achieve their desired communication goals.\u201d
\n\u201cI believe that the success of the many projects we\u2019ve done for and with the advertisers were really a result of great collaboration \u2014 from ideation to actual production and publication \u2014 between 大象传媒 and clients,\u201d Ms. Manuel said.
\n\u201cFrom our end, every time we get on board a client\u2019s project, we always think that their project is our project, and their success is our success. Hence, we strive to offer them the best inputs and outputs given the time and resources that we have,\u201d she added.
\nAmong special projects that brands have embarked on with 大象传媒 include special editions of 大象传媒 Insights, notable of which, for Ms. Sarmiento, are those with nonprofit organization Habitat For Humanity on a \u201cBAHAYnihan\u201d forum; with Parkway Cancer Centre Singapore for webinars on diagnosing and treating various cancers; and a three-part Fintech Series held in partnership with the recently-rebranded Maya.
\nSuch online fora gave the brands, through their representatives or experts, an opportunity to share information that would be relevant to 大象传媒\u2019s audience and even those who chance upon the webinars.
\nAside from online webinars, special editions of the \u201c大象传媒 B-Side\u201d podcast have been an area of collaboration for some brands like Tata Consultancy Services (TCS).
\n\u201cTCS is delighted to have found a partner in an equally established and trusted brand that is 大象传媒. It has been a joy collaborating with the different teams at 大象传媒 to share our story and guide the way for Philippine businesses to innovate for greater futures,\u201d Michelle Bautista, marketing manager at TCS Philippines, shared.
\nMore notably, nonetheless, brands have also tapped the capabilities of 大象传媒 for creating quality commemorative special projects.
\n\u201cPersonally, my favorites are the false cover we did for Asian Development Bank\u2019s 50th Anniversary in 大象传媒 and the special 35th Anniversary Magazine of the Makati Business Club,\u201d Ms. Manuel shared. \u201cOur team\u2019s hard work paid off because it\u2019s an honor for us to be part of these two well-respected organizations\u2019 milestones and to help them put on paper their stories about building a better future for our country.\u201d
\nMore recently, Mr. Dy Tioco noted that 大象传媒 plays a very important role in the PhilSTAR Media Group\u2019s (PMG) advocacy program \u201cNakakalocal: Love Local, Grow Global.\u201d The initiative, launched earlier this year, aims to promote and encourage consumers to buy local and support local businesses, particularly small and medium enterprises (SMEs), that produce great products.
\n\u201cNakakalocal\u201d maximizes PMG\u2019s assets, including 大象传媒, for a noteworthy advocacy. Moreover, the initiative is supported by the country\u2019s biggest corporate institutions, which paves the way for creating a vast support ecosystem for Filipino SMEs.
\n\u201cOur newest advocacy is very well-received by brands. They see several areas of collaboration that we can do together. And the wonderful thing about those collaborations is that there\u2019s really a common goal. It\u2019s not just serving one brand or the other, but it\u2019s really about serving a common goal of trying to uplift the economy by helping our SMEs and inspiring people to really start their own business,\u201d Mr. Dy Tioco, who also serves as PMG\u2019s executive vice-president, shared.
\nFor the years ahead, as new platforms for informing and engaging the business community have been productively explored, 大象传媒 looks forward to further collaborating with brands and help get their messages across meaningfully.
\n\u201cWe are open for collaboration; we can create content for them online and offline. We can explore a lot of possibilities,\u201d Ms. Sarmiento said.
\nThanking partners for the trust and confidence they have given to 大象传媒, Mr. Dy Tioco said that the trusted media company will continue to be with them as they move forward, step by step, to the continuous transformations they are embarking on.
\n\u201cWhatever crisis or success that you are going through, 大象传媒 will always be there for you,\u201d Mr. Dy Tioco said.
\n", "content_text": "1 of 4\r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n\r\n \r\n \nBy Adrian Paul B. Conoza, Special Features Assistant Editor\nAlong with the reputation 大象传媒 has established with the business community and the general public, another contributing factor to the paper\u2019s continuing success for 35 years is the trust it has built with top brands and advertisers.\nThrough the years, brands have not only regularly kept in touch with 大象传媒 for the placement of their advertisements in print and for sponsorships for in events. More recently, brands have also collaborated on projects where their messages have been amplified on 大象传媒\u2019s various platforms.\nThis growing synergy 大象传媒 has had with brands, for Executive Vice-President Lucien C. Dy Tioco, is generally built on the long-stand trust the media and content company has built for its excellence and quality in economic journalism.\n\u201cIt boils down to three factors: our credibility that we have established over the years, our clout and influence over the business community, and the quality of content that we produce which is very attuned to the needs of the business community,\u201d Mr. Dy Tioco said.\n\u201cI think one of the reasons why advertisers choose to work with us for their content over and over again is because we have managed to maintain our integrity despite the changing times. They know, respect, and value our journalism standards and editorial guidelines. There\u2019s no need to sacrifice our own brand of integrity to better serve our advertisers,\u201d 大象传媒 Special Features Editor Josielyn Luna-Manuel added.\nThese defining trademarks of 大象传媒 have been the solid convictions for Cocolife, one of the paper\u2019s top advertisers, to let their messages be amplified through 大象传媒\u2019s features and platforms, as the insurer\u2019s president Atty. Martin B. Loon, shared.\nSharing the same vision with 大象传媒 has been a solid factor for another top advertiser, Toyota Motor Philippines (TMP).\n“Over the years, 大象传媒 has been one of our trusted partners in delivering information about our products and services to our customers. This partnership with 大象传媒 over 3 decades has made us achieve our common vision of helping build and transform the industry for the better,” TMP First Vice-President for Vehicle Services Operations Sherwin Chualim said in an e-mail.\n\u201cAs the first Filipino-owned and ISO-certified Life Insurance company, it has been our mission to help Filipinos reach their goals, financial or otherwise, in any way that we could assist them. Needless to say, 大象传媒 shares the same sentiment as us, and they too \u2018Believe in the Filipino\u2019 as much as we do,\u201d he said.\nIn addition, Jay R. Sarmiento, 大象传媒\u2019s sales and marketing director, credited the people in her department for making the brand partnerships and advertising deals productive for both ends.\n\u201cWe have the best Sales and Marketing team who deliver what we promise to advertisers. The Sales and Marketing team, as well as the Special Features team, are organized and consistent when it comes to servicing the needs of the clients,\u201d Ms. Sarmiento said.\nMs. Manuel described how close collaboration with advertisers has made it possible for the whole 大象传媒 Sales and Marketing department, which includes the Special Features team, to come up with projects that \u201chelp brands effectively reach out to their target market and our audience, and achieve their desired communication goals.\u201d\n\u201cI believe that the success of the many projects we\u2019ve done for and with the advertisers were really a result of great collaboration \u2014 from ideation to actual production and publication \u2014 between 大象传媒 and clients,\u201d Ms. Manuel said.\n\u201cFrom our end, every time we get on board a client\u2019s project, we always think that their project is our project, and their success is our success. Hence, we strive to offer them the best inputs and outputs given the time and resources that we have,\u201d she added.\nAmong special projects that brands have embarked on with 大象传媒 include special editions of 大象传媒 Insights, notable of which, for Ms. Sarmiento, are those with nonprofit organization Habitat For Humanity on a \u201cBAHAYnihan\u201d forum; with Parkway Cancer Centre Singapore for webinars on diagnosing and treating various cancers; and a three-part Fintech Series held in partnership with the recently-rebranded Maya.\nSuch online fora gave the brands, through their representatives or experts, an opportunity to share information that would be relevant to 大象传媒\u2019s audience and even those who chance upon the webinars.\nAside from online webinars, special editions of the \u201c大象传媒 B-Side\u201d podcast have been an area of collaboration for some brands like Tata Consultancy Services (TCS).\n\u201cTCS is delighted to have found a partner in an equally established and trusted brand that is 大象传媒. It has been a joy collaborating with the different teams at 大象传媒 to share our story and guide the way for Philippine businesses to innovate for greater futures,\u201d Michelle Bautista, marketing manager at TCS Philippines, shared.\nMore notably, nonetheless, brands have also tapped the capabilities of 大象传媒 for creating quality commemorative special projects.\n\u201cPersonally, my favorites are the false cover we did for Asian Development Bank\u2019s 50th Anniversary in 大象传媒 and the special 35th Anniversary Magazine of the Makati Business Club,\u201d Ms. Manuel shared. \u201cOur team\u2019s hard work paid off because it\u2019s an honor for us to be part of these two well-respected organizations\u2019 milestones and to help them put on paper their stories about building a better future for our country.\u201d\nMore recently, Mr. Dy Tioco noted that 大象传媒 plays a very important role in the PhilSTAR Media Group\u2019s (PMG) advocacy program \u201cNakakalocal: Love Local, Grow Global.\u201d The initiative, launched earlier this year, aims to promote and encourage consumers to buy local and support local businesses, particularly small and medium enterprises (SMEs), that produce great products.\n\u201cNakakalocal\u201d maximizes PMG\u2019s assets, including 大象传媒, for a noteworthy advocacy. Moreover, the initiative is supported by the country\u2019s biggest corporate institutions, which paves the way for creating a vast support ecosystem for Filipino SMEs.\n\u201cOur newest advocacy is very well-received by brands. They see several areas of collaboration that we can do together. And the wonderful thing about those collaborations is that there\u2019s really a common goal. It\u2019s not just serving one brand or the other, but it\u2019s really about serving a common goal of trying to uplift the economy by helping our SMEs and inspiring people to really start their own business,\u201d Mr. Dy Tioco, who also serves as PMG\u2019s executive vice-president, shared.\nFor the years ahead, as new platforms for informing and engaging the business community have been productively explored, 大象传媒 looks forward to further collaborating with brands and help get their messages across meaningfully.\n\u201cWe are open for collaboration; we can create content for them online and offline. We can explore a lot of possibilities,\u201d Ms. Sarmiento said.\nThanking partners for the trust and confidence they have given to 大象传媒, Mr. Dy Tioco said that the trusted media company will continue to be with them as they move forward, step by step, to the continuous transformations they are embarking on.\n\u201cWhatever crisis or success that you are going through, 大象传媒 will always be there for you,\u201d Mr. Dy Tioco said.", "date_published": "2022-08-10T15:38:17+08:00", "date_modified": "2022-08-11T09:42:11+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/SF_Corporate-Heroes.jpg", "tags": [ "Adrian Paul B. Conoza", "bw35", "Special Reports" ], "summary": "Along with the reputation 大象传媒 has established with the business community and the general public, another contributing factor to the paper\u2019s continuing success for 35 years is the trust it has built with top brands and advertisers." }, { "id": "/?p=465092", "url": "/sparkup/2022/08/01/465092/dost-pcieerd-helps-philippine-startups-to-succeed-and-expand/", "title": "DoST PCIEERD helps Philippine startups to succeed and expand", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nDriven by the Innovative Startup Act of 2019, the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD) under the Department of Science and Technology (DoST) has been bringing a much-needed boost to the Philippine startup ecosystem. While its programs and incubators have been running for around two years, however, the council still seeks to support startups that offer fresh solutions to the market.
\nPCIEERD, one of the three sectoral planning councils of DoST, has been backing up the country\u2019s startups, in fulfillment of its mandate to support technology transfer and commercialization.
\nDoST, together with the Department of Trade and Industry and the Department of Information and Communications Technology, is assigned by the Innovative Startup Act of 2019 to assess, monitor, develop, and expand the Philippine Startup Development Program.
\n\u201cWe want [startups] to be out there and succeed through some kind of expansion. But in order to do that, they need to develop the product and penetrate into the market; and for the development of the product, services, and technologies, they have to undergo R&D (research and development). That\u2019s where we come in essentially through the programs that we have,\u201d Dr. Enrico C. Paringit, executive director of PCIEERD, told 大象传媒 in an online interview.
\nThe council currently holds two main programs. The Startup Grant Fund (SGF) Program, which is also in line with the Innovative Startup Act, is a fund assistance program that aims to help startups overcome their R&D roadblocks, strengthen their intellectual property, establish initial traction in the market, refine their business models, and prepare their respective business continuity plans.
\nThe program has been seeking to fund startups in the areas of supply chain and logistics, education and learning, remote work and productivity tools, content and talent development, sustainable industries, and digital tools for public service.
\nWomen-Helping-Women: Innovating Social Enterprises (WHWise), meanwhile, supports women social enterprises who need to access technology, early-stage funding, and customized gender-focused support. \u201cWe\u2019re trying to merge the pursuits of social entrepreneurs with that of the technologies that could help them make it,\u201d Dr. Paringit said of WHWise.
\nPCIEERD also operates Technology Business Incubators (TBI) that provides business development services to technology entrepreneurs and startups.
\nDr. Paringit shared that in the previous rounds of the annual SGF program, 27 proposals were approved among the 120 proposals received, while the approved funding amounted to P89 million.
\nFor this year, PCIEERD targets to fund 40 startups \u2014 30 under SGF and 10 under WHWise \u2014 as well as around P200 million worth of funding.
\nDr. Paringit hopes this year and in future cycles that they will find startups proposing novel and diverse ideas.
\n\u201cDespite the numerous applications in the last two rounds of calls, we\u2019ve noticed that the quality of submissions has tapered,\u201d the executive director said. \u201cIt seems like there has been a saturation in terms of key ideas; the ideas are almost similar and no longer that fresh.\u201d
\nHe observed that most of the ideas they have reviewed have concentrated on the \u201cmarketplace type of startups,\u201d with only the products offered setting them apart.
\n\u201cWe really wanted to move them out of that basic paradigm. We want them to be creative. We want them to be bold. We want them to be a little bit resourceful,\u201d he continued.
\nDr. Paringit attributed such tapering in quality to the lack of exposure and stimulus that could inspire new ideas.
\n\u201c[Y]ou could perhaps draw some inspiration from the lockdown and reflect about what the needs are, but that could only bring you so much; because the other source of inspiration is really where you have the opportunity to go and reach out, be exposed, and explore the greater environment,\u201d he explained.
\nIn the meantime, PCIEERD held mentoring and training for aspiring grantees to help them shape their proposals better. \u201cWhat we actually did was to come up with mentoring and training sessions with the startups so that they could fully develop their ideas and so that [when] they submit their proposals they would be able to pass the hurdles that were limiting them,\u201d Dr. Paringit shared.
\nThe executive director also stressed that PCIEERD is very keen to support creative industries that will make creative services more accessible even for certain occasions and communities; climate entrepreneurs who will help deal with the impacts of climate change; and energy \u2018technopreneurs\u2019 who will help bring better ways of managing energy and power resources even at the home level.
\n\u201cThe challenge of environment and climate is such that there are not too many willing to take it as a business and enterprise. But… it needs to be proactively supported so that many more will be inspired to put out solutions that would help us adapt or mitigate some of the effects of climate change,\u201d he said about supporting climate-oriented solutions.
\nbuilding up entrepreneurs
\nDr. Paringit shared that as of 2021, the SGF program raised P68.2 million in capital, generated P202.7 million in revenues, acquired 565 clients, and created 356 jobs since the program kickstarted with initial fund support worth P64 million.
\nAmong the startups backed up by the SGF are Futuristic Aviation and Maritime Enterprise, Inc. (FAME), which builds transponders that can track aircraft and boats without having to rely on a satellite or telco tower; The Green Table, which delivers farm-fresh, natural, and locally-grown farm products to consumers; and Oh My Genie!, a Cebu-based business solutions provider that aims to disrupt what it considers a currently centralized fulfillment and shipping model.
\nAugusto Martinez III, co-chief executive officer (CEO) of FAME, said that working with PCIEERD has greatly helped them from the start of their business, right until the present. \u201cWe don\u2019t know where we would be without them. It was difficult at the start,\u201d he said. \u201cThey will work with you; they will support you; and they will guide you, especially with the documentation.\u201d
\nOh My Genie! Co-Founder and CEO Karl Frederick Kesner noted that SGF helps startups get everything in their business accounted for, as well as make sure their products make an impact to the market. \u201cIt\u2019s not just an investment. They really make sure that your business will contribute to the progress of the Philippines,\u201d he said.
\nFor Neil Clyde Kho, founder and CEO of The Green Table, PCIEERD has brought an innovative and learning culture that the whole ecosystem can benefit from. \u201cOne thing I really appreciate [from them] is the culture. [They are] people with really great minds but a humble heart,\u201d he said.
\nAmong social enterprises boosted by WHWise, Empath offers mental healthcare services such as counseling, workshops and webinars, and wellness classes. Founder Stephanie Angelica Naval considers PCIEERD\u2019s program for women entrepreneurs, and DoST\u2019s support overall, a gamechanger for their business.
\n\u201cIt\u2019s really not just about [having] the grant, but really making sure you have steps to succeed,\u201d Ms. Naval said of the program, adding that the department\u2019s support enables the Philippine startup community to get closer to becoming a more competitive sector in the Southeast Asian region.
\n\u201cI previously came from a mindset that it\u2019s very difficult for the Philippines to thrive and be one of the leaders in the Southeast Asian region,\u201d she added. \u201cBut, honestly, initiatives like this make me very hopeful that it is something that we could achieve.\u201d
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nDriven by the Innovative Startup Act of 2019, the Philippine Council for Industry, Energy, and Emerging Technology Research and Development (PCIEERD) under the Department of Science and Technology (DoST) has been bringing a much-needed boost to the Philippine startup ecosystem. While its programs and incubators have been running for around two years, however, the council still seeks to support startups that offer fresh solutions to the market.\nPCIEERD, one of the three sectoral planning councils of DoST, has been backing up the country\u2019s startups, in fulfillment of its mandate to support technology transfer and commercialization.\nDoST, together with the Department of Trade and Industry and the Department of Information and Communications Technology, is assigned by the Innovative Startup Act of 2019 to assess, monitor, develop, and expand the Philippine Startup Development Program.\n\u201cWe want [startups] to be out there and succeed through some kind of expansion. But in order to do that, they need to develop the product and penetrate into the market; and for the development of the product, services, and technologies, they have to undergo R&D (research and development). That\u2019s where we come in essentially through the programs that we have,\u201d Dr. Enrico C. Paringit, executive director of PCIEERD, told 大象传媒 in an online interview.\nThe council currently holds two main programs. The Startup Grant Fund (SGF) Program, which is also in line with the Innovative Startup Act, is a fund assistance program that aims to help startups overcome their R&D roadblocks, strengthen their intellectual property, establish initial traction in the market, refine their business models, and prepare their respective business continuity plans.\nThe program has been seeking to fund startups in the areas of supply chain and logistics, education and learning, remote work and productivity tools, content and talent development, sustainable industries, and digital tools for public service.\nWomen-Helping-Women: Innovating Social Enterprises (WHWise), meanwhile, supports women social enterprises who need to access technology, early-stage funding, and customized gender-focused support. \u201cWe\u2019re trying to merge the pursuits of social entrepreneurs with that of the technologies that could help them make it,\u201d Dr. Paringit said of WHWise.\nPCIEERD also operates Technology Business Incubators (TBI) that provides business development services to technology entrepreneurs and startups.\nDr. Paringit shared that in the previous rounds of the annual SGF program, 27 proposals were approved among the 120 proposals received, while the approved funding amounted to P89 million.\nFor this year, PCIEERD targets to fund 40 startups \u2014 30 under SGF and 10 under WHWise \u2014 as well as around P200 million worth of funding.\nDr. Paringit hopes this year and in future cycles that they will find startups proposing novel and diverse ideas.\n\u201cDespite the numerous applications in the last two rounds of calls, we\u2019ve noticed that the quality of submissions has tapered,\u201d the executive director said. \u201cIt seems like there has been a saturation in terms of key ideas; the ideas are almost similar and no longer that fresh.\u201d\nHe observed that most of the ideas they have reviewed have concentrated on the \u201cmarketplace type of startups,\u201d with only the products offered setting them apart.\n\u201cWe really wanted to move them out of that basic paradigm. We want them to be creative. We want them to be bold. We want them to be a little bit resourceful,\u201d he continued.\nDr. Paringit attributed such tapering in quality to the lack of exposure and stimulus that could inspire new ideas.\n\u201c[Y]ou could perhaps draw some inspiration from the lockdown and reflect about what the needs are, but that could only bring you so much; because the other source of inspiration is really where you have the opportunity to go and reach out, be exposed, and explore the greater environment,\u201d he explained.\nIn the meantime, PCIEERD held mentoring and training for aspiring grantees to help them shape their proposals better. \u201cWhat we actually did was to come up with mentoring and training sessions with the startups so that they could fully develop their ideas and so that [when] they submit their proposals they would be able to pass the hurdles that were limiting them,\u201d Dr. Paringit shared.\nThe executive director also stressed that PCIEERD is very keen to support creative industries that will make creative services more accessible even for certain occasions and communities; climate entrepreneurs who will help deal with the impacts of climate change; and energy \u2018technopreneurs\u2019 who will help bring better ways of managing energy and power resources even at the home level.\n\u201cThe challenge of environment and climate is such that there are not too many willing to take it as a business and enterprise. But… it needs to be proactively supported so that many more will be inspired to put out solutions that would help us adapt or mitigate some of the effects of climate change,\u201d he said about supporting climate-oriented solutions.\nbuilding up entrepreneurs\nDr. Paringit shared that as of 2021, the SGF program raised P68.2 million in capital, generated P202.7 million in revenues, acquired 565 clients, and created 356 jobs since the program kickstarted with initial fund support worth P64 million.\nAmong the startups backed up by the SGF are Futuristic Aviation and Maritime Enterprise, Inc. (FAME), which builds transponders that can track aircraft and boats without having to rely on a satellite or telco tower; The Green Table, which delivers farm-fresh, natural, and locally-grown farm products to consumers; and Oh My Genie!, a Cebu-based business solutions provider that aims to disrupt what it considers a currently centralized fulfillment and shipping model.\nAugusto Martinez III, co-chief executive officer (CEO) of FAME, said that working with PCIEERD has greatly helped them from the start of their business, right until the present. \u201cWe don\u2019t know where we would be without them. It was difficult at the start,\u201d he said. \u201cThey will work with you; they will support you; and they will guide you, especially with the documentation.\u201d\nOh My Genie! Co-Founder and CEO Karl Frederick Kesner noted that SGF helps startups get everything in their business accounted for, as well as make sure their products make an impact to the market. \u201cIt\u2019s not just an investment. They really make sure that your business will contribute to the progress of the Philippines,\u201d he said.\nFor Neil Clyde Kho, founder and CEO of The Green Table, PCIEERD has brought an innovative and learning culture that the whole ecosystem can benefit from. \u201cOne thing I really appreciate [from them] is the culture. [They are] people with really great minds but a humble heart,\u201d he said.\nAmong social enterprises boosted by WHWise, Empath offers mental healthcare services such as counseling, workshops and webinars, and wellness classes. Founder Stephanie Angelica Naval considers PCIEERD\u2019s program for women entrepreneurs, and DoST\u2019s support overall, a gamechanger for their business.\n\u201cIt\u2019s really not just about [having] the grant, but really making sure you have steps to succeed,\u201d Ms. Naval said of the program, adding that the department\u2019s support enables the Philippine startup community to get closer to becoming a more competitive sector in the Southeast Asian region.\n\u201cI previously came from a mindset that it\u2019s very difficult for the Philippines to thrive and be one of the leaders in the Southeast Asian region,\u201d she added. \u201cBut, honestly, initiatives like this make me very hopeful that it is something that we could achieve.\u201d", "date_published": "2022-08-01T09:00:42+08:00", "date_modified": "2022-08-01T10:26:33+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/08/SU_pcieerd-srgp-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "DoST", "PCIEERD", "startups", "SparkUp" ] }, { "id": "/?p=464515", "url": "/special-features/2022/07/29/464515/positive-hints-in-luxury-segments-trajectory/", "title": "Positive hints in luxury segment\u2019s trajectory", "content_html": "Albeit lagging in the Prime International Residential Index (PIRI 100) of London-based real estate firm Knight Frank in 2021, the Philippines\u2019 luxury real estate segment has seen resilient and consistent performance in the previous years.
\nSeveral property firms have shared the observation that the said segment remained steady last year and is expected to stay so this year.
\nAs reported by The Philippine STAR earlier this year, professional real estate brokerage services company Leechiu Property Consultants (LPC) noted that luxury village land values and luxury condominium prices continue to increase in spite of the 18 months of lockdowns.
\n\u201cCapital values for luxury projects have continued to grow despite the economic downturn which shows the strong capital preservation of these assets,\u201d LPC was quoted as saying in its first quarter briefing.
\nThe firm further stressed that among the luxury villages, land values in Ayala Alabang in Muntinlupa have reached an all-time high of P200,000 per square meter (sq. m.) as of the said quarter, up from P150,000 per sqm in the same period last year. The village also tallied the highest prime lot change of 58%, followed by San Lorenzo (19%) and Greenhills (14%). Dasmarinas Village posted the highest value, with a range of P400,000 to P550,000 per sq.m.
\nMeanwhile, among the luxury condominiums on LPC\u2019s list, Aurelia Residences of Robinsons Land Corp. in Bonifacio Global City, Taguig showed the highest prime unit change at 17%, with value going as high as P657,000 per sq. m. Horizon Homes posted the highest values, ranging from P599,000 to P786,000 per sq.m.
\nIn addition, Michael McCullough, managing director of real estate consultancy KMC Savills, said in PropertyGuru Property Report that within the general residential market \u2014 which he observed remained weak but improved relative to 2020\u2019s performance \u2014 the luxury segment was the most resilient while the mid-segment showed recovery signs.
\nMuch earlier, in a 大象传媒 report published before the previous year closed, Mr. McCullough said demand for luxury condominium units will remain stable this year as high net-worth individuals renovate units in the major central business districts (CBDs) on expectations of higher returns.
\nSharing a similar view, Joey Roi H. Bondoc, associate director of real estate services company Colliers Philippines, said in the same report that mid-income and upscale residential units will continue to dictate launches and take-up of condominium units in Metro Manila.
\nThese outlooks seem to have started materializing, as hinted in online real estate marketplace Lamudi\u2019s most recent quarterly outlook.
\nThe outlook highlighted that during the first quarter (Q1) of the year, Taguig, compared to Makati and Pasig CBDs, exhibited the largest increase in leads for residential rentals which belong to the upscale and luxury (with prices at P200,000 and above) segments. Lamudi sees this as \u201ca trend that may be influenced by returning expats and C-level executives amid an improving business environment.\u201d
\nThis is a boost from a finding in the company\u2019s earlier \u201cProperty Seeker Trends\u201d from the second half of 2021, which stated that luxury listings attracted 2% more leads from the third quarter to the fourth quarter of the said year.
\nMoreover, in Lamudi\u2019s outlook from Q1 of last year, within leads for luxury properties for sale, those listings priced at more than P20 million got the largest chunk. Leads for luxury properties for rent were much diversified, with those ranging from P60,000 to P100,000 getting the biggest share.
\nThis positive picture is being painted in spite of a declined performance \u2014 and the Manila market\u2019s steepest decline yet \u2014 on a global scale.
\nIn Knight Frank\u2019s PIRI 100, an annual assessment of prime residential prices across 100 locations around the world, Manila currently ranks 97th out of 100 key cities; and it has the second-lowest contraction in luxury residential prices in Asia-Paci\ufb01c in 2021. Having recorded a 1.5% decline in the prices of luxury residential properties, the Philippine capital plunged 96 places from being the hottest prime residential market in 2020.
\nPrior to its current ranking, Manila was one of the top five Asia-Pacific markets from 2018 to 2020, when it recorded a 19.4% annual incline in prices.
\nThe whole PIRI 100 increased in value by 8.4% in 2021, up from just under 2% in 2020 and its highest annual increase since the index was launched in 2008.
\n\u201cOf the 100 luxury residential markets tracked, only seven saw prices decline in 2021 while a staggering 35% of locations saw them increase by 10% or more, underlining the strength of the sellers\u2019 market during the pandemic,\u201d Kate Everett-Allen, head of International Residential Research at Knight Frank, wrote in the firm\u2019s The Wealth Report.
\nWith a resilient performance amid the pandemic to ground itself with, the Philippine luxury property segment has an opportunity to attract demand beyond leads and complete this year with better performance and, perhaps, a better ranking in the global market. \u2014 Adrian Paul B. Conoza
\n", "content_text": "Albeit lagging in the Prime International Residential Index (PIRI 100) of London-based real estate firm Knight Frank in 2021, the Philippines\u2019 luxury real estate segment has seen resilient and consistent performance in the previous years.\nSeveral property firms have shared the observation that the said segment remained steady last year and is expected to stay so this year. \nAs reported by The Philippine STAR earlier this year, professional real estate brokerage services company Leechiu Property Consultants (LPC) noted that luxury village land values and luxury condominium prices continue to increase in spite of the 18 months of lockdowns.\n\u201cCapital values for luxury projects have continued to grow despite the economic downturn which shows the strong capital preservation of these assets,\u201d LPC was quoted as saying in its first quarter briefing.\nThe firm further stressed that among the luxury villages, land values in Ayala Alabang in Muntinlupa have reached an all-time high of P200,000 per square meter (sq. m.) as of the said quarter, up from P150,000 per sqm in the same period last year. The village also tallied the highest prime lot change of 58%, followed by San Lorenzo (19%) and Greenhills (14%). Dasmarinas Village posted the highest value, with a range of P400,000 to P550,000 per sq.m.\nMeanwhile, among the luxury condominiums on LPC\u2019s list, Aurelia Residences of Robinsons Land Corp. in Bonifacio Global City, Taguig showed the highest prime unit change at 17%, with value going as high as P657,000 per sq. m. Horizon Homes posted the highest values, ranging from P599,000 to P786,000 per sq.m.\nIn addition, Michael McCullough, managing director of real estate consultancy KMC Savills, said in PropertyGuru Property Report that within the general residential market \u2014 which he observed remained weak but improved relative to 2020\u2019s performance \u2014 the luxury segment was the most resilient while the mid-segment showed recovery signs.\nMuch earlier, in a 大象传媒 report published before the previous year closed, Mr. McCullough said demand for luxury condominium units will remain stable this year as high net-worth individuals renovate units in the major central business districts (CBDs) on expectations of higher returns. \nSharing a similar view, Joey Roi H. Bondoc, associate director of real estate services company Colliers Philippines, said in the same report that mid-income and upscale residential units will continue to dictate launches and take-up of condominium units in Metro Manila.\nThese outlooks seem to have started materializing, as hinted in online real estate marketplace Lamudi\u2019s most recent quarterly outlook.\nThe outlook highlighted that during the first quarter (Q1) of the year, Taguig, compared to Makati and Pasig CBDs, exhibited the largest increase in leads for residential rentals which belong to the upscale and luxury (with prices at P200,000 and above) segments. Lamudi sees this as \u201ca trend that may be influenced by returning expats and C-level executives amid an improving business environment.\u201d\nThis is a boost from a finding in the company\u2019s earlier \u201cProperty Seeker Trends\u201d from the second half of 2021, which stated that luxury listings attracted 2% more leads from the third quarter to the fourth quarter of the said year.\nMoreover, in Lamudi\u2019s outlook from Q1 of last year, within leads for luxury properties for sale, those listings priced at more than P20 million got the largest chunk. Leads for luxury properties for rent were much diversified, with those ranging from P60,000 to P100,000 getting the biggest share.\nThis positive picture is being painted in spite of a declined performance \u2014 and the Manila market\u2019s steepest decline yet \u2014 on a global scale. \nIn Knight Frank\u2019s PIRI 100, an annual assessment of prime residential prices across 100 locations around the world, Manila currently ranks 97th out of 100 key cities; and it has the second-lowest contraction in luxury residential prices in Asia-Paci\ufb01c in 2021. Having recorded a 1.5% decline in the prices of luxury residential properties, the Philippine capital plunged 96 places from being the hottest prime residential market in 2020. \nPrior to its current ranking, Manila was one of the top five Asia-Pacific markets from 2018 to 2020, when it recorded a 19.4% annual incline in prices.\nThe whole PIRI 100 increased in value by 8.4% in 2021, up from just under 2% in 2020 and its highest annual increase since the index was launched in 2008.\n\u201cOf the 100 luxury residential markets tracked, only seven saw prices decline in 2021 while a staggering 35% of locations saw them increase by 10% or more, underlining the strength of the sellers\u2019 market during the pandemic,\u201d Kate Everett-Allen, head of International Residential Research at Knight Frank, wrote in the firm\u2019s The Wealth Report.\nWith a resilient performance amid the pandemic to ground itself with, the Philippine luxury property segment has an opportunity to attract demand beyond leads and complete this year with better performance and, perhaps, a better ranking in the global market. \u2014 Adrian Paul B. Conoza", "date_published": "2022-07-29T09:10:07+08:00", "date_modified": "2022-07-28T17:10:03+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_dreamstime_m_30393260-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "luxury segment", "real estate", "Special Features" ] }, { "id": "/?p=464176", "url": "/special-features/2022/07/18/464176/how-beneficial-is-a-green-structure-to-workers/", "title": "How beneficial is a green structure to workers?", "content_html": "Built by more sustainable materials and powered by renewables, green buildings are seen to be a healthy component of cities and communities as they reduce greenhouse gas emissions and maximize the use of resources. But how do these capabilities \u2014 or at least the practices of making buildings green \u2014 translate into benefits for occupants?
\nSazan Rahman, a PhD candidate and teaching assistant at McGill University whose research is mostly about green walls, green roofs, and green buildings with other green technologies, noted that research has proven that green buildings greatly benefit workers in their productivity and well-being.
\n\u201cSome planners might worry about the added design and construction costs of a green building. But detailed analyses show that the small increase in building costs has noticeable benefits on the health and wellness of those working or living inside the building \u2014 or nearby,\u201d Mr. Rahman wrote in an article in The Conversation last February.
\n\u201cGreen workplaces meet all the criteria of the \u2018triple bottom line,\u2019 summarized as \u2018people, planet and profit.\u2019 These improve the health and well-being of people, improve energy efficiency and boost productivity,\u201d he further stressed.
\nThe engineering academic wrote that interior spaces with green walls, vertical gardens, or potted plants can reduce noise levels, which helps occupants concentrate on their work.
\nOn the other hand, outdoor permeable surfaces like soil, rock wool, and vermiculite, and plants on buildings\u2019 roofs and courtyards reduce echos.
\nWith green roofing, green buildings are also seen to reduce the \u201curban heat island\u201d effect, which occurs when a city replaces natural land cover with dense concentrations of pavement, buildings, and other surfaces that absorb and retain heat, resulting in a city experiencing much warmer temperatures than nearby rural areas.
\nCovering the roof of an uninsulated building with plants, Mr. Rahman explained, reduces cooling energy by as much as 33%, particularly in the summer season; and such roofing also reduces daytime indoor temperature fluctuations in the absence of air conditioning.
\n\u201cStudies show people working or living in areas with high proportions of green roofs have better mental health, heal more quickly after an illness and are more productive at work,\u201d he added.
\nGreen buildings, or at least putting more greens in one, also pave way for occupants to breathe cleaner air. Mr. Rahman cited a study way back in the 1990\u2019s which showed that there were fewer mold spores and microbes in a room where houseplants covered one-third of the floor space compared to a room with no house plants.
\n\u201cPlants also increase indoor humidity levels in dry climates, reducing the likelihood of dry eyes, itchy or scratchy throat or chapped lips,\u201d he added.
\nMore recently, the engineering academic added, latest research has also shown that plants can help hospitalized patients heal faster.
\n\u201cA report by the Green Building Council of Australia found that hospitals with green infrastructure, such as an ornamental green wall, plants on every balcony and large trees around the building, reduced average hospital stays by 8.5%, sped up recovery time by 15%, reduced the rate of secondary infections by 11% and lowered the need of pain medication by 22%,\u201d Mr. Rahman shared.
\n\u201cNot only do buildings with plants help patients heal faster, but they also energize the doctors, nurses and other staff who work there, and provide esthetic, acoustic and air quality benefits.\u201d \u2014 Adrian Paul B. Conoza
\n", "content_text": "Built by more sustainable materials and powered by renewables, green buildings are seen to be a healthy component of cities and communities as they reduce greenhouse gas emissions and maximize the use of resources. But how do these capabilities \u2014 or at least the practices of making buildings green \u2014 translate into benefits for occupants? \nSazan Rahman, a PhD candidate and teaching assistant at McGill University whose research is mostly about green walls, green roofs, and green buildings with other green technologies, noted that research has proven that green buildings greatly benefit workers in their productivity and well-being.\n\u201cSome planners might worry about the added design and construction costs of a green building. But detailed analyses show that the small increase in building costs has noticeable benefits on the health and wellness of those working or living inside the building \u2014 or nearby,\u201d Mr. Rahman wrote in an article in The Conversation last February.\n\u201cGreen workplaces meet all the criteria of the \u2018triple bottom line,\u2019 summarized as \u2018people, planet and profit.\u2019 These improve the health and well-being of people, improve energy efficiency and boost productivity,\u201d he further stressed.\nThe engineering academic wrote that interior spaces with green walls, vertical gardens, or potted plants can reduce noise levels, which helps occupants concentrate on their work. \nOn the other hand, outdoor permeable surfaces like soil, rock wool, and vermiculite, and plants on buildings\u2019 roofs and courtyards reduce echos.\nWith green roofing, green buildings are also seen to reduce the \u201curban heat island\u201d effect, which occurs when a city replaces natural land cover with dense concentrations of pavement, buildings, and other surfaces that absorb and retain heat, resulting in a city experiencing much warmer temperatures than nearby rural areas.\nCovering the roof of an uninsulated building with plants, Mr. Rahman explained, reduces cooling energy by as much as 33%, particularly in the summer season; and such roofing also reduces daytime indoor temperature fluctuations in the absence of air conditioning.\n\u201cStudies show people working or living in areas with high proportions of green roofs have better mental health, heal more quickly after an illness and are more productive at work,\u201d he added.\nGreen buildings, or at least putting more greens in one, also pave way for occupants to breathe cleaner air. Mr. Rahman cited a study way back in the 1990\u2019s which showed that there were fewer mold spores and microbes in a room where houseplants covered one-third of the floor space compared to a room with no house plants. \n\u201cPlants also increase indoor humidity levels in dry climates, reducing the likelihood of dry eyes, itchy or scratchy throat or chapped lips,\u201d he added.\nMore recently, the engineering academic added, latest research has also shown that plants can help hospitalized patients heal faster.\n\u201cA report by the Green Building Council of Australia found that hospitals with green infrastructure, such as an ornamental green wall, plants on every balcony and large trees around the building, reduced average hospital stays by 8.5%, sped up recovery time by 15%, reduced the rate of secondary infections by 11% and lowered the need of pain medication by 22%,\u201d Mr. Rahman shared.\n\u201cNot only do buildings with plants help patients heal faster, but they also energize the doctors, nurses and other staff who work there, and provide esthetic, acoustic and air quality benefits.\u201d \u2014 Adrian Paul B. Conoza", "date_published": "2022-07-18T08:55:35+08:00", "date_modified": "2022-07-27T16:59:21+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_uneebo-office-design-UgYT5nkXdK4-unsplash-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "green structure", "Special Features" ] }, { "id": "/?p=464170", "url": "/special-features/2022/07/15/464170/insurance-to-be-reshaped-towards-purposeful-growth/", "title": "Insurance to be reshaped towards purposeful growth", "content_html": "Globally, the insurance industry is seen to be on the verge of a \u201cdynamic and purpose-driven moment\u201d this year, as multinational professional services firm Ernst & Young (EY) noted in its latest \u201cGlobal Insurance Outlook.\u201d
\n\u201cWe believe the industry is poised for a period of purposeful growth, despite daunting macroeconomic and structural challenges, fierce competition and ongoing tech-driven disruptions,\u201d the outlook\u2019s authors wrote in the report.
\nDriving that dynamic moment are three trends that are expected to reshape the insurance market, as well as open opportunities for insurers to make more meaningful decisions for their clients and workforces.
\n\u201cThe decisions and actions leaders take today can meaningfully influence the future of the industry \u2014 and the lives and livelihoods of billions of people around the globe,\u201d EY\u2019s Global Insurance leadership team wrote in a message in the outlook.
\nRecognizing the rise of open finance and the ecosystems of financial solutions it enables, EY sees an emergence of open insurance, where insurance-related data and other types of personal information are shared among different organizations through application programming interfaces (APIs) that connect disparate systems.
\nLike how open finance can transform the delivery of financial services, open insurance makes it possible for insurers to tailor-fit policies or packages for customers.
\n\u201cAcross all lines of business, there is increased demand for more affordable, transparent and customized insurance that better suits evolving conditions and can be easily adjusted as the needs change,\u201d EY\u2019s outlook read. \u201cCustomers are increasingly willing to buy that insurance from other companies (e.g., retailers, other financial institutions, tech platforms) that offer intuitive personalized experiences.\u201d
\nIn addition, global professional services company Accenture recognized that technology, as it is integrated within traditional insurance products, will enable the personalization of solutions.
\n\u201cWearables and Internet of Things (IoT) sensors are creating new ways to track, price and promote health, home safety and security and auto insurance solutions,\u201d Accenture wrote in its recent analysis of the insurance revenue landscape in the future. \u201cTechnology allows for increased personalization of products, services and rates, but insurers need to be prepared to operate on the right platforms and with the right partners to enable that personalization.\u201d
\nWhereas before technology and automation is considered to cause job reductions in the insurance industry, at present the industry is set to have a more nuanced and interdependent human-tech dynamic \u2014 the second trend EY spotted.
\n\u201cThe consensus among forward-looking executives is that human talent is every bit as important to future success as AI, machine learning and modernized processing platforms, the firm\u2019s outlook read. \u201cYet the scarcity of key skills and \u201cthe Great Resignation\u201d mean that insurers must address the traditional view of the industry as slow-moving and dull if they are to become employers of choice.\u201d
\nIn attracting talent, EY recommends insurers to take stronger positions on social issues that matter most to rising generations of workers (e.g., diversity and inclusion, sustainability); provide meaningful work; and enhance their benefits, performance recognition and compensation models.
\n\u201cYounger workers are also looking for more purposeful work, which gives an advantage to insurers that can articulate a clear story about how their products and services benefit society as a whole,\u201d EY added.
\nAlso, Accenture observed that the coronavirus pandemic and \u201cthe Great Resignation\u201d are creating the pressures and shifts that will force insurers to disrupt long-standing apprenticeship models for skilling in essential functions like claims and underwriting. These forces are also pressing the need to attract and retain talent that are critical in roles critical to insurance workforce transformation like technology, analytics, and actuarial.
\n\u201cInsurers will always need humans. But with fewer workers, they increasingly need humans enabled by machines, transforming how work gets done regardless of who\u2019s doing it or where,\u201d Kenneth Saldanha, senior managing director \u2013 Global Insurance lead at Accenture, wrote on the company\u2019s website.
\nAs insurers are seen to be seriously considering the impact of their actions to the environment and society around them, sustainability, the third trend, brings \u201ca historical opportunity\u201d for the industry to purposefully lead, innovate, and grow.
\n\u201cPrevious discussions about sustainability were largely theoretical and centered on making public pledges of support. Today, however, leading insurers are taking tangible steps and adopting hard metrics to address the full range of environmental, social and governance (ESG) issues and opportunities,\u201d EY\u2019s outlook added.
\nFor most insurers, the outlook continued, the focus is squarely on the \u201cE\u201d in ESG, as climate change is expected to have the biggest and most immediate impact on the industry\u2019s financial performance.
\nAccenture even recognizes climate change to drive innovation in the insurance industry, in spite of the growing volatility of environmental catastrophes and damage linked to climate change being a complex risk to insure.
\n\u201cTechnology can help shape and improve that response with more sophisticated risk modeling, enabled by digital technology such as AI and analytics. Insurers can improve pre- and post-incident handling around climate-related disasters,\u201d Accenture\u2019s analysis read.
\nSocial issues, nevertheless, are also needing urgent responses, and so insurers must lay out their strategy with specific targets and quantifiable performance metrics, EY advised.
\n\u201cWithin a broader ESG strategy, insurers must identify priority focus areas, clarify why they are allocating resources to them, and determine what benefits they expect to achieve,\u201d the outlook\u2019s authors wrote. \u2014 Adrian Paul B. Conoza
\n", "content_text": "Globally, the insurance industry is seen to be on the verge of a \u201cdynamic and purpose-driven moment\u201d this year, as multinational professional services firm Ernst & Young (EY) noted in its latest \u201cGlobal Insurance Outlook.\u201d\n\u201cWe believe the industry is poised for a period of purposeful growth, despite daunting macroeconomic and structural challenges, fierce competition and ongoing tech-driven disruptions,\u201d the outlook\u2019s authors wrote in the report.\nDriving that dynamic moment are three trends that are expected to reshape the insurance market, as well as open opportunities for insurers to make more meaningful decisions for their clients and workforces.\n\u201cThe decisions and actions leaders take today can meaningfully influence the future of the industry \u2014 and the lives and livelihoods of billions of people around the globe,\u201d EY\u2019s Global Insurance leadership team wrote in a message in the outlook.\nRecognizing the rise of open finance and the ecosystems of financial solutions it enables, EY sees an emergence of open insurance, where insurance-related data and other types of personal information are shared among different organizations through application programming interfaces (APIs) that connect disparate systems. \nLike how open finance can transform the delivery of financial services, open insurance makes it possible for insurers to tailor-fit policies or packages for customers.\n\u201cAcross all lines of business, there is increased demand for more affordable, transparent and customized insurance that better suits evolving conditions and can be easily adjusted as the needs change,\u201d EY\u2019s outlook read. \u201cCustomers are increasingly willing to buy that insurance from other companies (e.g., retailers, other financial institutions, tech platforms) that offer intuitive personalized experiences.\u201d\nIn addition, global professional services company Accenture recognized that technology, as it is integrated within traditional insurance products, will enable the personalization of solutions.\n\u201cWearables and Internet of Things (IoT) sensors are creating new ways to track, price and promote health, home safety and security and auto insurance solutions,\u201d Accenture wrote in its recent analysis of the insurance revenue landscape in the future. \u201cTechnology allows for increased personalization of products, services and rates, but insurers need to be prepared to operate on the right platforms and with the right partners to enable that personalization.\u201d\nWhereas before technology and automation is considered to cause job reductions in the insurance industry, at present the industry is set to have a more nuanced and interdependent human-tech dynamic \u2014 the second trend EY spotted.\n\u201cThe consensus among forward-looking executives is that human talent is every bit as important to future success as AI, machine learning and modernized processing platforms, the firm\u2019s outlook read. \u201cYet the scarcity of key skills and \u201cthe Great Resignation\u201d mean that insurers must address the traditional view of the industry as slow-moving and dull if they are to become employers of choice.\u201d\nIn attracting talent, EY recommends insurers to take stronger positions on social issues that matter most to rising generations of workers (e.g., diversity and inclusion, sustainability); provide meaningful work; and enhance their benefits, performance recognition and compensation models.\n\u201cYounger workers are also looking for more purposeful work, which gives an advantage to insurers that can articulate a clear story about how their products and services benefit society as a whole,\u201d EY added.\nAlso, Accenture observed that the coronavirus pandemic and \u201cthe Great Resignation\u201d are creating the pressures and shifts that will force insurers to disrupt long-standing apprenticeship models for skilling in essential functions like claims and underwriting. These forces are also pressing the need to attract and retain talent that are critical in roles critical to insurance workforce transformation like technology, analytics, and actuarial.\n\u201cInsurers will always need humans. But with fewer workers, they increasingly need humans enabled by machines, transforming how work gets done regardless of who\u2019s doing it or where,\u201d Kenneth Saldanha, senior managing director \u2013 Global Insurance lead at Accenture, wrote on the company\u2019s website.\nAs insurers are seen to be seriously considering the impact of their actions to the environment and society around them, sustainability, the third trend, brings \u201ca historical opportunity\u201d for the industry to purposefully lead, innovate, and grow.\n\u201cPrevious discussions about sustainability were largely theoretical and centered on making public pledges of support. Today, however, leading insurers are taking tangible steps and adopting hard metrics to address the full range of environmental, social and governance (ESG) issues and opportunities,\u201d EY\u2019s outlook added.\nFor most insurers, the outlook continued, the focus is squarely on the \u201cE\u201d in ESG, as climate change is expected to have the biggest and most immediate impact on the industry\u2019s financial performance.\nAccenture even recognizes climate change to drive innovation in the insurance industry, in spite of the growing volatility of environmental catastrophes and damage linked to climate change being a complex risk to insure. \n\u201cTechnology can help shape and improve that response with more sophisticated risk modeling, enabled by digital technology such as AI and analytics. Insurers can improve pre- and post-incident handling around climate-related disasters,\u201d Accenture\u2019s analysis read.\nSocial issues, nevertheless, are also needing urgent responses, and so insurers must lay out their strategy with specific targets and quantifiable performance metrics, EY advised.\n\u201cWithin a broader ESG strategy, insurers must identify priority focus areas, clarify why they are allocating resources to them, and determine what benefits they expect to achieve,\u201d the outlook\u2019s authors wrote. \u2014 Adrian Paul B. Conoza", "date_published": "2022-07-15T08:50:40+08:00", "date_modified": "2022-07-27T15:10:36+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_1099-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "insurance", "insurance industry", "Special Features" ] }, { "id": "/?p=461258", "url": "/special-features/2022/07/14/461258/valuable-drivers-of-philippines-connectivity/", "title": "Valuable drivers of Philippines\u2019 connectivity", "content_html": "The past two years saw a heightened need for reliable and steady connectivity, whether one is at home or outside, especially as digital is further embedded into consumers\u2019 lifestyles. The call for telecommunications companies to attend to that demand was even raised by the previous President in his State of the Nation Address in 2020.
\nAmong those providers that have recognized and responded to such increased demand is the PLDT Group, chaired by Manuel V. Pangilinan (MVP).
\nIn his message in PLDT\u2019s most recent annual report, Mr. Pangilinan noted that the group is thriving on new historic highs in spite of the \u201chyper-competition\u201d in telco and financial technology (fintech), as well as the onslaught of Super Typhoon Odette before 2021 ended.
\n\u201cAmid the calamity and continuing pandemic, we transformed and performed. Addressing the sustained and shifting demands for connectivity, we scaled new all-time highs on revenues and EBITDA (earnings before interest, taxes, depreciation, and amortization),\u201d the chairman wrote. \u201cWe expanded our fixed and mobile networks nationwide, powering more hybrid workspaces and online learning, enabling more businesses to thrive.\u201d
\nThe PLDT Home unit, to begin with, was seen with notable growth, enabled by a fast-tracked nationwide fiber rollout, which led to an increased pace of installations. Exceeding original targets, PLDT\u2019s total fixed broadband customers reached a record-high of nearly three million, a growth of 30% year-on-year (y-o-y). Total fiber capacity of PLDT Home now stands at 5.77 million ports following the completion of 1.7 million fiber ports last year.
\nFrom previously P29.3 billion, PLDT Home\u2019s revenues grew 24% to P47.8 billion, which is another record for the particular business. Fiber revenues grew 82% y-o-y to P33 billion, while broadband revenues grew 29%.
\nLikewise, the Enterprise business of PLDT has performed well in helping businesses and organizations \u201cbuild back better\u201d in the new normal. In 2021, the corporate business unit earned P42.2 billion, up by 4% from 2020, with fourth-quarter (Q4) earnings surpassing P11 billion for the first time.
\nAlfredo S. Panlilio, president and chief executive officer of both PLDT and Smart Communications, Inc. (Smart), noted that within data/broadband revenues, information and communications technology (ICT) and corporate data increased by 14% and 6% y-o-y, respectively.
\n\u201cWireless Enterprise revenues increased significantly beyond mere connectivity, rising on the back of wireless solutions availed of by enterprise clients,\u201d he added in his message in the group\u2019s annual report.
\nFurthermore, Mr. Panlilio stressed, the enterprise business seeks to outperform last year\u2019s feats as PLDT\u2019s ICT arm ePLDT, Inc. invests in building its digital transformation domain expertise through the construction of what is seen to be the largest data center campus in the country.
\n\u201cThe soon-to-rise LEED certified, Tier-3 Certified, and Tier-4 Ready hyperscale facility in PLDT\u2019s five-hectare property in the booming industrial city of Sta. Rosa, Laguna will be the most robust facility in our suite of 11 data centers,\u201d the president and CEO explained. \u201cA facility of this caliber only ensures the best possible customer experience not only for our hyperscaler clients, but also for the Filipino end-users consuming their services.\u201d
\n![\"\"](\"/wp-content/uploads/2022/07/SF_pldt-smart_2020-09-01_22-19-30-OL-300x200.jpg\")
Smart, PLDT\u2019s wireless arm, also saw sustained performance in 2021, with full-year revenues of P86.2 billion, 80% of which were contributed by data and broadband. Also, Smart\u2019s 42.6 million active data users posted double-digit growth of 11% y-o-y.
\n\u201cStrategic brand building campaigns and product innovations, funneled mainly to more than 10 million users of Smart\u2019s GigaLife mobile app, increased brand relevance and enabled stronger customer digital adoption,\u201d Mr. Panlilio added.
\nMoreover, fifth-generation (5G) technology is seen to be driving the individual wireless business in the years ahead, with data traffic on Smart\u2019s 5G network seen to have grown in Q4 2021 by 72% quarter-on-quarter and over 33 times more y-o-y.
\n\u201cThis growth was driven by aggressive 5G handset and usage offers of Smart Signature, the launch of Smart Bro\u2019s 5G Rocket Wifi, and the Unli 5G offers via the prepaid brands,\u201d Mr. Panlilio wrote, adding that investments in 5G will be maximized moving forward.
\nPLDT Group\u2019s delivery of connectivity has been recognized by international user-based studies. Smart won Ookla\u2019s Speedtest Awards for Q3-Q4 2021 with a Speed Score of 201.95, while PLDT is regarded the \u201cfastest broadband\u201d in the country\u00a0 during the same period with a Speed Score of 77.24.
\nAlso, in Opensignal\u2019s first 5G Experience Report for the Philippines, Smart wins outright in five out of seven categories: 5G Availability, 5G Download Speed, 5G Upload Speed, 5G Video Experience, and 5G Games Experience.
\nNot only is PLDT Group progressing in connectivity, but it has also been an active participant in the fintech space by maximizing the synergies between PLDT, Smart, and PayMaya, the group\u2019s financial technology affiliate, which has recently rebranded as Maya \u2014 around six months after Voyager Innovations, Inc. (Maya\u2019s operator) secured a digital bank license.
\n\u201cWith PLDT and Smart\u2019s unrivaled network and PayMaya\u2019s unique end-to-end financial services ecosystem, we are making the everyday lives of Filipinos better through technology,\u201d Mr. Pangilinan wrote.
\n\u201cPowered by our robust integrated network, PayMaya\u2019s end-to-end financial services ecosystem is expected to make digital payments and e-commerce more accessible to PLDT and Smart customers, aligned with our group-wide commitment to bring world-class services to more Filipinos,\u201d Mr. Panlilio noted.
\nPLDT\u2019s annual report highlighted that PayMaya garnered 44 million registered customers and half-a-million points of acceptance nationwide as of end-2021. Part of these touchpoints is Smart Padala centers, with over 63,000 agent network touchpoints that largely cater to grassroots communities.
\nOutside the PLDT Group, Radius Technologies, Inc., a wholly-owned subsidiary by the MVP-chaired MERALCO, has leveraged fiber technology to make enterprises, businesses, and homes more connected.
\nUnder an agreement inked in 2020, the company partnered with pay TV service provider Cignal TV to roll out RED Fiber, a bundle of fiber internet and pay TV services.
\nRadius also launched its Optical Transport Network Suite in April last year. According to a statement from Radius, this suite \u201cleverages a next-generation, industry-leading network protocol that provides an efficient and a globally accepted way to multiplex different services onto optical light paths, offering up to 200 Gbps (gigabits per second) of network capacity to customers.\u201d \u2014 Adrian Paul B. Conoza
\n", "content_text": "The past two years saw a heightened need for reliable and steady connectivity, whether one is at home or outside, especially as digital is further embedded into consumers\u2019 lifestyles. The call for telecommunications companies to attend to that demand was even raised by the previous President in his State of the Nation Address in 2020.\nAmong those providers that have recognized and responded to such increased demand is the PLDT Group, chaired by Manuel V. Pangilinan (MVP).\nIn his message in PLDT\u2019s most recent annual report, Mr. Pangilinan noted that the group is thriving on new historic highs in spite of the \u201chyper-competition\u201d in telco and financial technology (fintech), as well as the onslaught of Super Typhoon Odette before 2021 ended.\n\u201cAmid the calamity and continuing pandemic, we transformed and performed. Addressing the sustained and shifting demands for connectivity, we scaled new all-time highs on revenues and EBITDA (earnings before interest, taxes, depreciation, and amortization),\u201d the chairman wrote. \u201cWe expanded our fixed and mobile networks nationwide, powering more hybrid workspaces and online learning, enabling more businesses to thrive.\u201d\nThe PLDT Home unit, to begin with, was seen with notable growth, enabled by a fast-tracked nationwide fiber rollout, which led to an increased pace of installations. Exceeding original targets, PLDT\u2019s total fixed broadband customers reached a record-high of nearly three million, a growth of 30% year-on-year (y-o-y). Total fiber capacity of PLDT Home now stands at 5.77 million ports following the completion of 1.7 million fiber ports last year. \nFrom previously P29.3 billion, PLDT Home\u2019s revenues grew 24% to P47.8 billion, which is another record for the particular business. Fiber revenues grew 82% y-o-y to P33 billion, while broadband revenues grew 29%.\nLikewise, the Enterprise business of PLDT has performed well in helping businesses and organizations \u201cbuild back better\u201d in the new normal. In 2021, the corporate business unit earned P42.2 billion, up by 4% from 2020, with fourth-quarter (Q4) earnings surpassing P11 billion for the first time.\nAlfredo S. Panlilio, president and chief executive officer of both PLDT and Smart Communications, Inc. (Smart), noted that within data/broadband revenues, information and communications technology (ICT) and corporate data increased by 14% and 6% y-o-y, respectively. \n\u201cWireless Enterprise revenues increased significantly beyond mere connectivity, rising on the back of wireless solutions availed of by enterprise clients,\u201d he added in his message in the group\u2019s annual report.\nFurthermore, Mr. Panlilio stressed, the enterprise business seeks to outperform last year\u2019s feats as PLDT\u2019s ICT arm ePLDT, Inc. invests in building its digital transformation domain expertise through the construction of what is seen to be the largest data center campus in the country.\n\u201cThe soon-to-rise LEED certified, Tier-3 Certified, and Tier-4 Ready hyperscale facility in PLDT\u2019s five-hectare property in the booming industrial city of Sta. Rosa, Laguna will be the most robust facility in our suite of 11 data centers,\u201d the president and CEO explained. \u201cA facility of this caliber only ensures the best possible customer experience not only for our hyperscaler clients, but also for the Filipino end-users consuming their services.\u201d\nBW File Photo\nSmart, PLDT\u2019s wireless arm, also saw sustained performance in 2021, with full-year revenues of P86.2 billion, 80% of which were contributed by data and broadband. Also, Smart\u2019s 42.6 million active data users posted double-digit growth of 11% y-o-y.\n\u201cStrategic brand building campaigns and product innovations, funneled mainly to more than 10 million users of Smart\u2019s GigaLife mobile app, increased brand relevance and enabled stronger customer digital adoption,\u201d Mr. Panlilio added.\nMoreover, fifth-generation (5G) technology is seen to be driving the individual wireless business in the years ahead, with data traffic on Smart\u2019s 5G network seen to have grown in Q4 2021 by 72% quarter-on-quarter and over 33 times more y-o-y. \n\u201cThis growth was driven by aggressive 5G handset and usage offers of Smart Signature, the launch of Smart Bro\u2019s 5G Rocket Wifi, and the Unli 5G offers via the prepaid brands,\u201d Mr. Panlilio wrote, adding that investments in 5G will be maximized moving forward.\nPLDT Group\u2019s delivery of connectivity has been recognized by international user-based studies. Smart won Ookla\u2019s Speedtest Awards for Q3-Q4 2021 with a Speed Score of 201.95, while PLDT is regarded the \u201cfastest broadband\u201d in the country\u00a0 during the same period with a Speed Score of 77.24.\nAlso, in Opensignal\u2019s first 5G Experience Report for the Philippines, Smart wins outright in five out of seven categories: 5G Availability, 5G Download Speed, 5G Upload Speed, 5G Video Experience, and 5G Games Experience. \nNot only is PLDT Group progressing in connectivity, but it has also been an active participant in the fintech space by maximizing the synergies between PLDT, Smart, and PayMaya, the group\u2019s financial technology affiliate, which has recently rebranded as Maya \u2014 around six months after Voyager Innovations, Inc. (Maya\u2019s operator) secured a digital bank license.\n\u201cWith PLDT and Smart\u2019s unrivaled network and PayMaya\u2019s unique end-to-end financial services ecosystem, we are making the everyday lives of Filipinos better through technology,\u201d Mr. Pangilinan wrote.\n\u201cPowered by our robust integrated network, PayMaya\u2019s end-to-end financial services ecosystem is expected to make digital payments and e-commerce more accessible to PLDT and Smart customers, aligned with our group-wide commitment to bring world-class services to more Filipinos,\u201d Mr. Panlilio noted.\nPLDT\u2019s annual report highlighted that PayMaya garnered 44 million registered customers and half-a-million points of acceptance nationwide as of end-2021. Part of these touchpoints is Smart Padala centers, with over 63,000 agent network touchpoints that largely cater to grassroots communities.\nOutside the PLDT Group, Radius Technologies, Inc., a wholly-owned subsidiary by the MVP-chaired MERALCO, has leveraged fiber technology to make enterprises, businesses, and homes more connected. \nUnder an agreement inked in 2020, the company partnered with pay TV service provider Cignal TV to roll out RED Fiber, a bundle of fiber internet and pay TV services. \nRadius also launched its Optical Transport Network Suite in April last year. According to a statement from Radius, this suite \u201cleverages a next-generation, industry-leading network protocol that provides an efficient and a globally accepted way to multiplex different services onto optical light paths, offering up to 200 Gbps (gigabits per second) of network capacity to customers.\u201d \u2014 Adrian Paul B. Conoza", "date_published": "2022-07-14T09:25:43+08:00", "date_modified": "2022-07-14T14:50:07+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_5-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Special Features" ] }, { "id": "/?p=461285", "url": "/special-features/2022/07/14/461285/active-players-in-disrupted-philippine-media/", "title": "Active players in disrupted Philippine media", "content_html": "Filipino businessman Manuel V. Pangilinan has made a mark in the Philippine business community as a chair in numerous household names in telecommunications, electricity, and infrastructure, to name a few. Nonetheless, his leadership also reaches the country\u2019s media landscape through the conglomerate MediaQuest Holdings, Inc. (MediaQuest), home to some of the biggest names in television, print, and digital media.
\nFrom acquiring several media companies since its establishment in the 1990s by PLDT through its Beneficial Trust Fund, MediaQuest is seeing its investments come to fruition as the brands it carries are being widely recognized by the general public and also particular demographics.
\nAfter a decade of becoming the notable \u2018third player\u2019 in what used to be a \u2018two-network town,\u2019 TV5 Network Inc. (TV5) has become a more competitive player in the industry, actively stepping up in response to significant disruptions in Philippine media \u2014 particularly the shutdown of broadcasting giant ABS-CBN on terrestrial TV \u2014 that took place in the midst of the coronavirus pandemic.
\nEarlier in 2020, TV5 partnered with its sister company, pay TV provider Cignal TV, Inc. (Cignal), with the latter serving as the channel\u2019s main content provider to handle the network\u2019s programming. Following this partnership, the network embarked on collaborations with many production companies such as APT Entertainment, Brightlight Productions, Viva Entertainment, The IdeaFirst, and Cornerstone.
\nTV5 and Cignal also partnered with ABS-CBN Entertainment to carry the content from the latter, which include several dramas like the long-running FPJ\u2019s Ang Probinsyano, as well as the Sunday noontime variety show ASAP Natin \u2018To and, soon, the popular noontime program It\u2019s Showtime.
\nThis boost in TV5\u2019s programming has opened doors for new viewers, which eventually lead to nationwide viewership growth. Nielsen ratings indicated that as of July last year TV5 has registered an 89% growth in total viewership and is now the country\u2019s second most highly rated channel. The network\u2019s weekday primetime block grew from a 5.3 audience share in January 2021 to 12.9 as of end-June 2021, while its weekend primetime improved from a 4.2 audience share to 6.9.
\nHaving expanded its services from direct-to-home satellite to content production, Cignal has likewise seen growth, with Mr. Pangilinan noting in a televised interview that Cignal is on track to hit P1 billion profit in 2021, driven by a \u201cmagnificent\u201d performance in the first half of that year, having earned P510 million, up 608.3% from P72 million in the same period in 2020.
\n\u201cTheir EBITDA (earnings before interest, tax, depreciation, and amortization) was close to P2 billion,\u201d Mr. Pangilinan was quoted as saying in a 大象传媒 report. \u201cI think that puts Cignal in a position to help TV5 [grow] without much help from PLDT.\u201d
\nAs a content producer, Cignal is behind channels such as English-language news channel One News, which binds the forces of media outfits The Philippine STAR, 大象传媒, and News5; Filipino-language channel One PH, bringing together the forces of Pilipino Star Ngayon, The Freeman, radio station Radyo 5 92.3 News FM (owned by MediaQuest asset Nation Broadcasting Corp.), and also News5; sports channels One Sports and One Sports+; and entertainment channels Sari-Sari Channel (in partnership with Viva Entertainment) and BuKo (in partnership with APT Entertainment).
\nAside from carrying well-known local basketball and volleyball games, Cignal also served as the official broadcaster for the 2020 Tokyo Olympics, which pushed through last year; 2022 Beijing Winter Olympics last February; and Hanoi 2021 Southeast Asian Games, which pushed through last May.
\nThe company also partnered with the University Athletic Association of the Philippines (UAAP) to carry live collegiate games, as well as additional programming and classic games via the UAAP Varsity Channel \u2014 the first of its kind in the country.
\nMediaQuest, through its unit Hastings Holdings, Inc., is also a big player in the print and digital media through the PhilSTAR Media Group (PMG), which holds some of the country\u2019s leading newspapers such as broadsheet The Philippine Star, the country\u2019s first business daily 大象传媒, Filipino tabloids Pilipino Star Ngayon and Pang-Masa, Cebu-based English-language paper The Freeman, and Cebuano-language tabloid Banat News.
\nIn the digital space, five of PMG\u2019s six titles have a solid online presence through Philstar.com, owned and operated by Philstar Global Corp. Beyond being an online edition of The STAR, Philstar.com has grown into one of the country\u2019s biggest digital news outlets with its own editorial team and content. Philstar Global Corp. also operates Interaksyon.com, which has evolved from TV5\u2019s news website to a platform publishing features and analyses on social issues and current events from the perspective of social media.
\nThe Philippine STAR\u2019s digital presence has been further enhanced with PhilSTAR L!fe, which expands the paper\u2019s lifestyle content from the physical pages to an online platform brimming with \u201ceverything you love, want, need and more,\u201d as the website states, and built on \u201ca connection based on trust and discovery.\u201d
\nMore recently, the PMG intends to make a bigger impact that transcends its regular content and pages as it launched a year-long advocacy titled \u201cNakakalocal: Love Local, Grow Global.\u201d
\nBringing the spotlight on the country\u2019s small and medium enterprises and proudly-made Filipino products, this initiative will set online features, fun bazaars, enriching talks, e-convention, and business pitching and mentoring events in the coming months.
\nA highlight of this initiative is the search for \u201cSTAR36 SMES\u201d which the media group will help in promoting their businesses. Registered businesses with products that present a unique value, have a strong and patriotic vision, support sustainability, and are ethical and socially responsible, are sought for the \u201cSTAR36 SMES.\u201d \u2014 Adrian Paul B. Conoza
\n", "content_text": "Filipino businessman Manuel V. Pangilinan has made a mark in the Philippine business community as a chair in numerous household names in telecommunications, electricity, and infrastructure, to name a few. Nonetheless, his leadership also reaches the country\u2019s media landscape through the conglomerate MediaQuest Holdings, Inc. (MediaQuest), home to some of the biggest names in television, print, and digital media.\nFrom acquiring several media companies since its establishment in the 1990s by PLDT through its Beneficial Trust Fund, MediaQuest is seeing its investments come to fruition as the brands it carries are being widely recognized by the general public and also particular demographics.\nAfter a decade of becoming the notable \u2018third player\u2019 in what used to be a \u2018two-network town,\u2019 TV5 Network Inc. (TV5) has become a more competitive player in the industry, actively stepping up in response to significant disruptions in Philippine media \u2014 particularly the shutdown of broadcasting giant ABS-CBN on terrestrial TV \u2014 that took place in the midst of the coronavirus pandemic.\nEarlier in 2020, TV5 partnered with its sister company, pay TV provider Cignal TV, Inc. (Cignal), with the latter serving as the channel\u2019s main content provider to handle the network\u2019s programming. Following this partnership, the network embarked on collaborations with many production companies such as APT Entertainment, Brightlight Productions, Viva Entertainment, The IdeaFirst, and Cornerstone.\nTV5 and Cignal also partnered with ABS-CBN Entertainment to carry the content from the latter, which include several dramas like the long-running FPJ\u2019s Ang Probinsyano, as well as the Sunday noontime variety show ASAP Natin \u2018To and, soon, the popular noontime program It\u2019s Showtime.\nThis boost in TV5\u2019s programming has opened doors for new viewers, which eventually lead to nationwide viewership growth. Nielsen ratings indicated that as of July last year TV5 has registered an 89% growth in total viewership and is now the country\u2019s second most highly rated channel. The network\u2019s weekday primetime block grew from a 5.3 audience share in January 2021 to 12.9 as of end-June 2021, while its weekend primetime improved from a 4.2 audience share to 6.9.\nHaving expanded its services from direct-to-home satellite to content production, Cignal has likewise seen growth, with Mr. Pangilinan noting in a televised interview that Cignal is on track to hit P1 billion profit in 2021, driven by a \u201cmagnificent\u201d performance in the first half of that year, having earned P510 million, up 608.3% from P72 million in the same period in 2020.\n\u201cTheir EBITDA (earnings before interest, tax, depreciation, and amortization) was close to P2 billion,\u201d Mr. Pangilinan was quoted as saying in a 大象传媒 report. \u201cI think that puts Cignal in a position to help TV5 [grow] without much help from PLDT.\u201d\nAs a content producer, Cignal is behind channels such as English-language news channel One News, which binds the forces of media outfits The Philippine STAR, 大象传媒, and News5; Filipino-language channel One PH, bringing together the forces of Pilipino Star Ngayon, The Freeman, radio station Radyo 5 92.3 News FM (owned by MediaQuest asset Nation Broadcasting Corp.), and also News5; sports channels One Sports and One Sports+; and entertainment channels Sari-Sari Channel (in partnership with Viva Entertainment) and BuKo (in partnership with APT Entertainment).\nAside from carrying well-known local basketball and volleyball games, Cignal also served as the official broadcaster for the 2020 Tokyo Olympics, which pushed through last year; 2022 Beijing Winter Olympics last February; and Hanoi 2021 Southeast Asian Games, which pushed through last May.\nThe company also partnered with the University Athletic Association of the Philippines (UAAP) to carry live collegiate games, as well as additional programming and classic games via the UAAP Varsity Channel \u2014 the first of its kind in the country.\nMediaQuest, through its unit Hastings Holdings, Inc., is also a big player in the print and digital media through the PhilSTAR Media Group (PMG), which holds some of the country\u2019s leading newspapers such as broadsheet The Philippine Star, the country\u2019s first business daily 大象传媒, Filipino tabloids Pilipino Star Ngayon and Pang-Masa, Cebu-based English-language paper The Freeman, and Cebuano-language tabloid Banat News.\nIn the digital space, five of PMG\u2019s six titles have a solid online presence through Philstar.com, owned and operated by Philstar Global Corp. Beyond being an online edition of The STAR, Philstar.com has grown into one of the country\u2019s biggest digital news outlets with its own editorial team and content. Philstar Global Corp. also operates Interaksyon.com, which has evolved from TV5\u2019s news website to a platform publishing features and analyses on social issues and current events from the perspective of social media.\nThe Philippine STAR\u2019s digital presence has been further enhanced with PhilSTAR L!fe, which expands the paper\u2019s lifestyle content from the physical pages to an online platform brimming with \u201ceverything you love, want, need and more,\u201d as the website states, and built on \u201ca connection based on trust and discovery.\u201d \nMore recently, the PMG intends to make a bigger impact that transcends its regular content and pages as it launched a year-long advocacy titled \u201cNakakalocal: Love Local, Grow Global.\u201d \nBringing the spotlight on the country\u2019s small and medium enterprises and proudly-made Filipino products, this initiative will set online features, fun bazaars, enriching talks, e-convention, and business pitching and mentoring events in the coming months.\nA highlight of this initiative is the search for \u201cSTAR36 SMES\u201d which the media group will help in promoting their businesses. Registered businesses with products that present a unique value, have a strong and patriotic vision, support sustainability, and are ethical and socially responsible, are sought for the \u201cSTAR36 SMES.\u201d \u2014 Adrian Paul B. Conoza", "date_published": "2022-07-14T09:10:52+08:00", "date_modified": "2022-07-14T17:31:05+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_MVP-One-NEws-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Special Features" ] }, { "id": "/?p=459021", "url": "/special-features/2022/07/04/459021/a-quest-for-reaching-bigger-targets/", "title": "A quest for reaching bigger targets", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nWith the worsening global issue of climate change and, in turn, the rising call to reduce greenhouse gas emissions, particularly carbon dioxide, the energy sector is further pushed to expand the share of renewable and cleaner sources like biomass, solar, wind, geothermal, ocean energy, hydropower in the grid.
\nReflecting such push, at least initially, is the updated Philippine Energy Plan (PEP) 2020-2040 of the Department of Energy (DoE), which is highlighted by increased targets of 35% share of renewable energy (RE) in the power generation mix by 2030 and 50% share by 2040.
\nThese targets aim to tackle the observed decline in the recent share of RE in the mix. In a report by the Philippine News Agency last November, Director Mylene C. Capongcol, officer-in-charge of DoE\u2019s Renewable Energy Management Bureau, shared that from about 34% in 2008, the share of RE has gone down to 21%, or 21,609 gigawatt-hours (GWh), out of a total 101,756 GWh of power generated.
\nThe 50% target for RE is part of the updated PEP\u2019s Clean Energy Scenario (CES), under which oil, coal, and natural gas reduce their levels in the total primary energy supply (TPES) to 35.5%, 20.8%, and 11.6%, respectively, by 2040.
\nIn comparison, the PEP revealed that as of 2020, coal served as the country\u2019s biggest energy source, with 30.8% share of TPES, while oil had 29.2% and natural gas had 5.8%, totaling fossil fuels\u2019 share to 65.8%. Renewables, meanwhile, increased their share to 34.2%, from 32.9% in 2019.
\nMoreover, the CES sets about a fourth of the power generation to come from natural gas with 26.6% share and coal with 23.1%; while solar and hydro comprise 20.6% and 18.0, respectively, by 2040. The remaining share is hoped to be contributed by geothermal, wind, biomass, and oil, altogether bringing 11.7%.
\nIn 2020, coal power plants contributed more than a half of the power generation output at 57.2%, natural gas at 19.2%, geothermal at 10.6%, and hydropower at 7.1%. The combined generation output of solar, wind, and biomass comprised a 3.6% share of the total generation mix during the period.
\nThe CES also aims to increase RE\u2019s total installed capacity to 81.5 GW by the same period, translating to 68.7%. Particularly, solar\u2019s share is pegged at 46.1 GW, wind at 11.8 GW, and 20.1 GW for hydro. Gas, on the other hand, drops to 18.9 GW.
\nIn a 大象传媒 report last February, the DoE said that the country\u2019s energy system is expected to add capacity of 7,910.96 megawatts (MW) by 2027, with coal-fired plants accounting for 46.68% of the capacity, natural gas 38.71%, RE 11.39%, and oil-fueled facilities 6.67%.
\nWith 901.27 MW projected to be added to RE capacity, solar is calculated to account for 488.27 MW, hydropower 232.50 MW, geothermal 115.60 MW, and biomass 64.60 MW.
\nRazon-led Prime Infrastructure Capital, Inc. or Prime Infra (formerly known as Prime Infrastructure Holdings, Inc.) recognizes the PEP as the blueprint toward a more sustainable and resilient future where critical energy infrastructure are delivered with sustainability in mind \u2014 energy security, social relevance, and environmentally resilient.
\n\u201cThe national government\u2019s pivot to renewable power projects is very much aligned with our business direction where sustainability is both a guiding philosophy, and a commitment to our stakeholders,\u201d Prime Infra told 大象传媒 in an e-mail.
\nIn line with this plan, Prime Infra said it actively seeks out opportunities to deliver clean energy projects and technologies that will support the RE landscape set out by the government for the next two decades.
\n\u201cThe close collaboration of government and private entities is crucial to help transition away from GHG intensive energy sources, such as coal and oil, and increase the supply of renewable and sustainable energy,\u201d the company shared. \u201cThis is why Prime Infra will continue to pioneer power projects \u2014 as our track record shows \u2014 in line with our goal of empowering communities and fostering positive socio-economic development.\u201d
\nOne power infrastructure project Prime Infra is taking on to support the national government\u2019s energy plans involves solar energy.
\nTerra Solar Philippines, a unit of Terra Renewables Holdings, Inc., which is a power subsidiary under Prime Infra\u2019s control, has partnered with Solar Philippines Power Project Holdings, Inc. to develop what is claimed to be the world\u2019s largest solar power facility.
\n\u201cThe solar project is envisioned to have a capacity of 2,500MW to 3,500MW, combined with 4,000 MWh (megawatt hour) to 4,500 MWh battery energy storage system (BESS) boosting the supply of renewable energy in the country,\u201d Prime Infra said.
\n\u201cTaking advantage of the steep decline in installation costs of solar panels and the improved BESS technology will allow Prime Infra to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,\u201d it added.
\nThis facility, the company continued, will serve as a crucial part of how it will help address an anticipated heightened energy demand post-pandemic.
\n\u201cOur Terra Solar project is a model of dependable renewable energy, which represents a stable price not subject to fuel imports volatility for the rest of the 20-year contract,\u201d Prime Infra explained. \u201cThe\u00a0 850 MW supply to offtaker Manila Electric Company can displace an annual consumption of approximately 1.4 million tons of coal or 930 million liters of oil. This means a reduction in both greenhouse gas emissions and import dependency for the country from 2026 to 2046.\u201d
\nPrime Infra is also keen on building a hydropower project that will further contribute to the country\u2019s RE mix. It is also poised to acquire a controlling stake in the Malampaya deep-water gas-to-power project, as natural gas is seen to contribute more to the country\u2019s transition from expensive coal and imported fuel prices to affordable and cleaner domestic energy resources.
\nThe company has also established a new subsidiary that will help solve municipal waste problems and minimize methane emissions from landfills. WasteFuel Philippines was established last year for a waste-to-fuel project to be developed in partnership with US-based WasteFuel Global.
\n\u201cWith the goal of turning waste into a valuable source of clean energy, the company is eyeing to put up by 2025 a biorefinery in Luzon that would convert municipal solid waste and agricultural feedstock into fuels for the maritime and aviation industries,\u201d said Prime Infra.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nWith the worsening global issue of climate change and, in turn, the rising call to reduce greenhouse gas emissions, particularly carbon dioxide, the energy sector is further pushed to expand the share of renewable and cleaner sources like biomass, solar, wind, geothermal, ocean energy, hydropower in the grid.\nReflecting such push, at least initially, is the updated Philippine Energy Plan (PEP) 2020-2040 of the Department of Energy (DoE), which is highlighted by increased targets of 35% share of renewable energy (RE) in the power generation mix by 2030 and 50% share by 2040.\nThese targets aim to tackle the observed decline in the recent share of RE in the mix. In a report by the Philippine News Agency last November, Director Mylene C. Capongcol, officer-in-charge of DoE\u2019s Renewable Energy Management Bureau, shared that from about 34% in 2008, the share of RE has gone down to 21%, or 21,609 gigawatt-hours (GWh), out of a total 101,756 GWh of power generated.\nThe 50% target for RE is part of the updated PEP\u2019s Clean Energy Scenario (CES), under which oil, coal, and natural gas reduce their levels in the total primary energy supply (TPES) to 35.5%, 20.8%, and 11.6%, respectively, by 2040.\nIn comparison, the PEP revealed that as of 2020, coal served as the country\u2019s biggest energy source, with 30.8% share of TPES, while oil had 29.2% and natural gas had 5.8%, totaling fossil fuels\u2019 share to 65.8%. Renewables, meanwhile, increased their share to 34.2%, from 32.9% in 2019.\nMoreover, the CES sets about a fourth of the power generation to come from natural gas with 26.6% share and coal with 23.1%; while solar and hydro comprise 20.6% and 18.0, respectively, by 2040. The remaining share is hoped to be contributed by geothermal, wind, biomass, and oil, altogether bringing 11.7%.\nIn 2020, coal power plants contributed more than a half of the power generation output at 57.2%, natural gas at 19.2%, geothermal at 10.6%, and hydropower at 7.1%. The combined generation output of solar, wind, and biomass comprised a 3.6% share of the total generation mix during the period.\nThe CES also aims to increase RE\u2019s total installed capacity to 81.5 GW by the same period, translating to 68.7%. Particularly, solar\u2019s share is pegged at 46.1 GW, wind at 11.8 GW, and 20.1 GW for hydro. Gas, on the other hand, drops to 18.9 GW.\nIn a 大象传媒 report last February, the DoE said that the country\u2019s energy system is expected to add capacity of 7,910.96 megawatts (MW) by 2027, with coal-fired plants accounting for 46.68% of the capacity, natural gas 38.71%, RE 11.39%, and oil-fueled facilities 6.67%.\nWith 901.27 MW projected to be added to RE capacity, solar is calculated to account for 488.27 MW, hydropower 232.50 MW, geothermal 115.60 MW, and biomass 64.60 MW.\nRazon-led Prime Infrastructure Capital, Inc. or Prime Infra (formerly known as Prime Infrastructure Holdings, Inc.) recognizes the PEP as the blueprint toward a more sustainable and resilient future where critical energy infrastructure are delivered with sustainability in mind \u2014 energy security, social relevance, and environmentally resilient.\n\u201cThe national government\u2019s pivot to renewable power projects is very much aligned with our business direction where sustainability is both a guiding philosophy, and a commitment to our stakeholders,\u201d Prime Infra told 大象传媒 in an e-mail.\nIn line with this plan, Prime Infra said it actively seeks out opportunities to deliver clean energy projects and technologies that will support the RE landscape set out by the government for the next two decades.\n\u201cThe close collaboration of government and private entities is crucial to help transition away from GHG intensive energy sources, such as coal and oil, and increase the supply of renewable and sustainable energy,\u201d the company shared. \u201cThis is why Prime Infra will continue to pioneer power projects \u2014 as our track record shows \u2014 in line with our goal of empowering communities and fostering positive socio-economic development.\u201d\nOne power infrastructure project Prime Infra is taking on to support the national government\u2019s energy plans involves solar energy.\nTerra Solar Philippines, a unit of Terra Renewables Holdings, Inc., which is a power subsidiary under Prime Infra\u2019s control, has partnered with Solar Philippines Power Project Holdings, Inc. to develop what is claimed to be the world\u2019s largest solar power facility.\n\u201cThe solar project is envisioned to have a capacity of 2,500MW to 3,500MW, combined with 4,000 MWh (megawatt hour) to 4,500 MWh battery energy storage system (BESS) boosting the supply of renewable energy in the country,\u201d Prime Infra said.\n\u201cTaking advantage of the steep decline in installation costs of solar panels and the improved BESS technology will allow Prime Infra to build an economically critical and socially relevant infrastructure at a scale the world has never seen before,\u201d it added.\nThis facility, the company continued, will serve as a crucial part of how it will help address an anticipated heightened energy demand post-pandemic.\n\u201cOur Terra Solar project is a model of dependable renewable energy, which represents a stable price not subject to fuel imports volatility for the rest of the 20-year contract,\u201d Prime Infra explained. \u201cThe\u00a0 850 MW supply to offtaker Manila Electric Company can displace an annual consumption of approximately 1.4 million tons of coal or 930 million liters of oil. This means a reduction in both greenhouse gas emissions and import dependency for the country from 2026 to 2046.\u201d\nPrime Infra is also keen on building a hydropower project that will further contribute to the country\u2019s RE mix. It is also poised to acquire a controlling stake in the Malampaya deep-water gas-to-power project, as natural gas is seen to contribute more to the country\u2019s transition from expensive coal and imported fuel prices to affordable and cleaner domestic energy resources.\nThe company has also established a new subsidiary that will help solve municipal waste problems and minimize methane emissions from landfills. WasteFuel Philippines was established last year for a waste-to-fuel project to be developed in partnership with US-based WasteFuel Global.\n\u201cWith the goal of turning waste into a valuable source of clean energy, the company is eyeing to put up by 2025 a biorefinery in Luzon that would convert municipal solid waste and agricultural feedstock into fuels for the maritime and aviation industries,\u201d said Prime Infra.", "date_published": "2022-07-04T09:00:40+08:00", "date_modified": "2022-07-04T10:29:02+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/07/SF_Main-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "greenhouse gas emissions", "renewable energy", "Special Features" ] }, { "id": "/?p=458154", "url": "/special-features/2022/06/29/458154/a-good-start-for-philippine-real-estate-this-year/", "title": "A good start for Philippine real estate this year", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nIn spite of several challenges impacting both global and local economies, the Philippine real estate sector had a good start this 2022. In its most recent reports, professional services and investment management company Colliers Philippines observed optimism across property segments.
\nWithin the residential segment, Colliers recorded demand having increased by 640 units in the first quarter (Q1) of the year. Demand is projected to reach 9,610 units for the whole year. While only 560 units were recorded for the same quarter, which is down 86% year-on-year (YOY), supply is expected to pick up by 20% with the delivery of 10,500 units by the end of 2022.
\nColliers also found that rents declined by 0.2% quarter-on-quarter (QOQ), but it forecast rents and prices to increase by 1.5% and 2.7%, respectively, for the entire 2022. Vacancy, meanwhile, reached 17.8%, and is expected to further recede to 17.2% by the end of 2022.
\nOverall, the residential market is marked with optimism as economic sectors are opening up and returning to on-site work is being encouraged, Joey Roi Bondoc, Colliers Philippines\u2019 associate director for research, observed.
\n\u201cThis, coupled with the return of more foreign employees should have a positive impact on residential leasing. Hence, we are projecting a gradual recovery in rents and prices which should extend beyond 2022,\u201d Mr. Bondoc wrote in a report published last April. \u201cBusiness and consumer confidence should spillover to the pre selling market. Hence, we project a recovery which should start by the second half of 2022.\u201d
\nOptimism is likewise seen within the mass housing market, even amid the coronavirus pandemic, as Pammy Olivares-Vital, president of real estate developer Ovialand, noted.
\n\u201cThe home-buying market realized early on during the pandemic that a house and lot investment is more convenient, comfortable and long-term, that\u2019s why it has been a very busy time for us since 2020,\u201d Ms. Vital told 大象传媒 in an e-mail.
\nShe shared that Ovialand\u2019s revenues grew 91% in 2021, attributing such growth to the developer\u2019s edge in swiftly building and turning over homes to its clients. It projects to grow by 35% to 40% this year.
\n\u201cEven as we see signs of returning to pre-pandemic mobility, we still see a strong demand for our housing product as many Filipinos are choosing the option of living outside Metro Manila,\u201d Ms. Vital continued.
\nOvialand\u2019s developments, which cater to the premium affordable category, are currently centralized in the Southern Luzon region, particularly in San Pablo, Laguna; Sto. Tomas, Batangas; and Candelaria, Quezon.
\nFor Ms. Vital, the location of their developments matches very well with the increasing infrastructure and transport options in the said area. This, in turn, allows more Filipino homebuyers to explore their options outside Metro Manila.
\nThe Ovialand president thus hopes that the incoming administration will continue ongoing infrastructure and transportation plans, \u201cas the connectivity of towns and cities allow developers to find new areas of development rather than be limited to progressive areas already where land prices are no longer feasible for affordable house and lot.\u201d
\n\u201cWe are looking forward to the rehabilitation of the PNR Train Systems as well, allowing the Makati CBD to be only a train ride away from our areas of development,\u201d she added.
\nBuilding costs
\nOne of the challenges the real estate sector has been dealing with recently is the increase in prices of building materials.
\nReported earlier in June, preliminary data from the Philippine Statistics Authority showed that retail prices of construction materials in the National Capital Region last February grew to its fastest pace in more than five years. Metro Manila\u2019s construction materials retail price index increased from 3% in January to 3.3% in February, up by 1.1% YOY.
\nFeeling the impact of these increased prices, Ovialand responded by securing bulk supply with suppliers and committing to its fast building of houses.
\n\u201cOur speed and efficiency is one way for us to combat the rising prices. By selling houses closer to the date of procurement of materials, we are able to price our house and lot products accordingly,\u201d Ms. Vital said.
\nOffice segment
\nA positive picture was also seen in the office segment, with Colliers having tallied a positive net take-up in Q1 2022 after seven consecutive quarters of negative absorption. About 146,100 square meters (sq. m.) of office deals were recorded in Q1 2022, more than the 134,100 sq. m. in the fourth quarter (Q4) of 2021. 306,100 sq. m. of new office space was added to the market\u2019s supply, more than double the 114,300 sq. m. from Q4 2021.
\n\u201cTraditional and outsourcing companies continue to dominate demand as they take advantage of the rental correction and availability of new office buildings in major business districts,\u201d Colliers\u2019 report explained. \u201cCompanies\u2019 return to office mandates should also support office absorption over the next 12 months.\u201d
\nOffice rents declined by an average of 3.1% QOQ in Q1, and it is projected to drop by about 5% this year before a recovery starts next year. Office vacancy, meanwhile, increased to 17.3% in Q1 from 15.7% in Q4 2021. With the projected completion of about 821,900 sq. m. of new supply, Colliers revised its year-end forecast to about 18.2% from 18.9%.
\nRetail market
\nThe retail market is also seeing a good start this year as consumer confidence improves and malls get more foot traffic recently.
\n![\"\"](\"/wp-content/uploads/2022/06/SF_mostafa-meraji-X0yKdR_F9rM-unsplash-OL-300x225.jpg\")
Demand for retail space, which Colliers tallied at an increase of 74,000 sq. m., is expected to be led by food & beverage retailers for the remainder of this year, although clothing segments are also seen to be picking up demand. Also, from Q4 2021 to Q1 2022, 130,000 sq. m. of new retail space was completed, and a total of 409,000 sq. m. is expected to be completed in 2022.
Retail rents, meanwhile, have dropped by 15% compared to levels before the pandemic, but a slow recovery is forecast as the rise in household spending and consumer traffic influences rents starting in the second half of 2022.
\nRetail vacancy, on the other hand, continued to rise in Metro Manila at 15.2% in Q1 2022 from 14.8% in the third quarter of 2021. It is seen to reach 16% by the end of 2022.
\n\u201cAside from revenge shopping and dining which we project to kick in starting Q2 (second quarter) 2022, we see more opportunities in the market given mall operators\u2019 and retailers\u2019 propensities to innovate amid a liberalized playing field. Consumer confidence abounds and this should have a positive impact on mall space absorption and rents in 2022,\u201d Colliers explained in a separate report.
\nCause for discernment
\nWhile positive performances and outlooks have largely characterized property segments in the country for the first three months, global challenges such as the war between Russia and Ukraine and the inflation in the United States bring a cause for discernment among investors.
\n\u201cThese global challenges will definitely have direct impacts on us locally \u2014 and while I believe this will not slow down the real estate industry \u2014 it will make the market more discerning and astute when it comes to their investments,\u201d Ms. Vital of Ovialand said.
\n\u201cDevelopers and business owners alike must be in tune with their market to understand the changing needs of the people,\u201d she added.
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nIn spite of several challenges impacting both global and local economies, the Philippine real estate sector had a good start this 2022. In its most recent reports, professional services and investment management company Colliers Philippines observed optimism across property segments.\nWithin the residential segment, Colliers recorded demand having increased by 640 units in the first quarter (Q1) of the year. Demand is projected to reach 9,610 units for the whole year. While only 560 units were recorded for the same quarter, which is down 86% year-on-year (YOY), supply is expected to pick up by 20% with the delivery of 10,500 units by the end of 2022.\nColliers also found that rents declined by 0.2% quarter-on-quarter (QOQ), but it forecast rents and prices to increase by 1.5% and 2.7%, respectively, for the entire 2022. Vacancy, meanwhile, reached 17.8%, and is expected to further recede to 17.2% by the end of 2022.\nOverall, the residential market is marked with optimism as economic sectors are opening up and returning to on-site work is being encouraged, Joey Roi Bondoc, Colliers Philippines\u2019 associate director for research, observed. \n\u201cThis, coupled with the return of more foreign employees should have a positive impact on residential leasing. Hence, we are projecting a gradual recovery in rents and prices which should extend beyond 2022,\u201d Mr. Bondoc wrote in a report published last April. \u201cBusiness and consumer confidence should spillover to the pre selling market. Hence, we project a recovery which should start by the second half of 2022.\u201d \nOptimism is likewise seen within the mass housing market, even amid the coronavirus pandemic, as Pammy Olivares-Vital, president of real estate developer Ovialand, noted. \n\u201cThe home-buying market realized early on during the pandemic that a house and lot investment is more convenient, comfortable and long-term, that\u2019s why it has been a very busy time for us since 2020,\u201d Ms. Vital told 大象传媒 in an e-mail.\nShe shared that Ovialand\u2019s revenues grew 91% in 2021, attributing such growth to the developer\u2019s edge in swiftly building and turning over homes to its clients. It projects to grow by 35% to 40% this year.\n\u201cEven as we see signs of returning to pre-pandemic mobility, we still see a strong demand for our housing product as many Filipinos are choosing the option of living outside Metro Manila,\u201d Ms. Vital continued.\nOvialand\u2019s developments, which cater to the premium affordable category, are currently centralized in the Southern Luzon region, particularly in San Pablo, Laguna; Sto. Tomas, Batangas; and Candelaria, Quezon. \nFor Ms. Vital, the location of their developments matches very well with the increasing infrastructure and transport options in the said area. This, in turn, allows more Filipino homebuyers to explore their options outside Metro Manila. \nThe Ovialand president thus hopes that the incoming administration will continue ongoing infrastructure and transportation plans, \u201cas the connectivity of towns and cities allow developers to find new areas of development rather than be limited to progressive areas already where land prices are no longer feasible for affordable house and lot.\u201d \n\u201cWe are looking forward to the rehabilitation of the PNR Train Systems as well, allowing the Makati CBD to be only a train ride away from our areas of development,\u201d she added.\nBuilding costs\nOne of the challenges the real estate sector has been dealing with recently is the increase in prices of building materials. \nReported earlier in June, preliminary data from the Philippine Statistics Authority showed that retail prices of construction materials in the National Capital Region last February grew to its fastest pace in more than five years. Metro Manila\u2019s construction materials retail price index increased from 3% in January to 3.3% in February, up by 1.1% YOY.\nFeeling the impact of these increased prices, Ovialand responded by securing bulk supply with suppliers and committing to its fast building of houses. \n\u201cOur speed and efficiency is one way for us to combat the rising prices. By selling houses closer to the date of procurement of materials, we are able to price our house and lot products accordingly,\u201d Ms. Vital said.\nOffice segment\nA positive picture was also seen in the office segment, with Colliers having tallied a positive net take-up in Q1 2022 after seven consecutive quarters of negative absorption. About 146,100 square meters (sq. m.) of office deals were recorded in Q1 2022, more than the 134,100 sq. m. in the fourth quarter (Q4) of 2021. 306,100 sq. m. of new office space was added to the market\u2019s supply, more than double the 114,300 sq. m. from Q4 2021. \n\u201cTraditional and outsourcing companies continue to dominate demand as they take advantage of the rental correction and availability of new office buildings in major business districts,\u201d Colliers\u2019 report explained. \u201cCompanies\u2019 return to office mandates should also support office absorption over the next 12 months.\u201d\nOffice rents declined by an average of 3.1% QOQ in Q1, and it is projected to drop by about 5% this year before a recovery starts next year. Office vacancy, meanwhile, increased to 17.3% in Q1 from 15.7% in Q4 2021. With the projected completion of about 821,900 sq. m. of new supply, Colliers revised its year-end forecast to about 18.2% from 18.9%.\nRetail market\nThe retail market is also seeing a good start this year as consumer confidence improves and malls get more foot traffic recently. \nDemand for retail space, which Colliers tallied at an increase of 74,000 sq. m., is expected to be led by food & beverage retailers for the remainder of this year, although clothing segments are also seen to be picking up demand. Also, from Q4 2021 to Q1 2022, 130,000 sq. m. of new retail space was completed, and a total of 409,000 sq. m. is expected to be completed in 2022.\nRetail rents, meanwhile, have dropped by 15% compared to levels before the pandemic, but a slow recovery is forecast as the rise in household spending and consumer traffic influences rents starting in the second half of 2022.\nRetail vacancy, on the other hand, continued to rise in Metro Manila at 15.2% in Q1 2022 from 14.8% in the third quarter of 2021. It is seen to reach 16% by the end of 2022.\n\u201cAside from revenge shopping and dining which we project to kick in starting Q2 (second quarter) 2022, we see more opportunities in the market given mall operators\u2019 and retailers\u2019 propensities to innovate amid a liberalized playing field. Consumer confidence abounds and this should have a positive impact on mall space absorption and rents in 2022,\u201d Colliers explained in a separate report.\nCause for discernment\nWhile positive performances and outlooks have largely characterized property segments in the country for the first three months, global challenges such as the war between Russia and Ukraine and the inflation in the United States bring a cause for discernment among investors.\n\u201cThese global challenges will definitely have direct impacts on us locally \u2014 and while I believe this will not slow down the real estate industry \u2014 it will make the market more discerning and astute when it comes to their investments,\u201d Ms. Vital of Ovialand said. \n\u201cDevelopers and business owners alike must be in tune with their market to understand the changing needs of the people,\u201d she added.", "date_published": "2022-06-29T09:00:47+08:00", "date_modified": "2022-06-29T10:50:18+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/06/SF_alexandr-hovhannisyan-OIVvwDIvmsk-unsplash-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "real estate", "Special Features" ] }, { "id": "/?p=457613", "url": "/special-features/2022/06/27/457613/deeper-roles-of-fatherhood/", "title": "Deeper roles of fatherhood", "content_html": "The roles of a father have long been transformed and expanded from the traditional roles of a breadwinner and a disciplinarian in the family into a more diverse set of roles, which include being a caregiver and a mentor. Especially at this time when many parents have learned further to balance work and parenting duties within a single space, their homes, the stereotypes of what a father is and should be are much more refuted.
\nIn fact, the profile of a father has changed through time, as the American Psychological Association (APA) noted. “He can be single or married; externally employed or stay-at home; gay or straight; an adoptive or step-parent; and a more than capable caregiver to children facing physical or psychological challenges,” the APA wrote on its website.
\nAPA attributes such change to two factors, one of which is economic trends. “Two to three centuries ago, fathers\u2019 roles were primarily to serve as breadwinners and the conveyers of moral values and religious education to their children,” the association explained. “However, with the advent of industrialization and urbanization and as factories emerged as major sources of employment, fathers became distanced from the household and their families.”
\nSuch circumstances are coupled, however, with the changing economic role of women as more of them get employed and their financial power has increased.
\n“In tandem with the growing autonomy of women, related trends such as declining fertility, increasing rates of divorce and remarriage, and childbirth outside of marriage have resulted in a transition from traditional to multiple undefined roles for many fathers. Today\u2019s fathers have started to take on roles vastly different from fathers of previous generations,” APA observed.
\nAlongside those economic trends, research on child development was observed to have increasingly focused on fathers in the last 20 to 30 years.
\n![\"\"](\"/wp-content/uploads/2022/06/SF_pexels-tatiana-syrikova-3933227-OL-200x300.jpg\")
APA highlighted a study conducted by United States’ National Institute of Child Health and Human Development, which found that fathers tended to be more involved in caregiving when they worked fewer hours than other fathers; had positive psychological adjustment characteristics like high self-esteem and lower levels of depression and hostility; when mothers worked more hours than other mothers; when mothers reported greater marital intimacy; and when children were boys.
“Other research on the role of fathers suggests that the influence of father love on children’s development is as great as the influence of a mother’s love. Fatherly love helps children develop a sense of their place in the world, which helps their social, emotional and cognitive development and functioning,” the association added.
\nNotably, a study published in the International Journal of Scientific and Research Publications in 2018 delved into the role of Filipino fathers as caregivers. The study interviewed 16 Filipino fathers based in south-central Mindanao who served as the primary caretakers of their children while their wives were working outside the Philippines.
\nThe authors noted from their analysis of the respondents’ interviews that in fulfilling their caregiving roles, these fathers are deeply involved in maintaining the hygiene of their children, as well as in preparing their meals, guiding them in their studies, and attending to them in their sickness \u2014 which the fathers considered as the most difficult part of their duty.
\n“Fathers claimed they did everything for their children. This responsibility started the moment they woke up until they retired at night,” the authors wrote. “These responsibilities covered not only the concern on their children\u2019s activities of daily living like grooming, feeding, schooling and a lot more, but also the household tasks that were traditionally done by women in the Filipino culture.”
\nThis diversity in fatherhood roles actually got more emphasis in the midst the coronavirus pandemic. As shared in a story published on the website of public broadcaster NPR, fathers have faced the challenge of striking a balance between work and family over the last two years.
\n![\"\"](\"/wp-content/uploads/2022/06/SF_asian-daughter-give-present-father-concept-surprise-gift-box-fathers-day-OL-300x167.jpg\")
“You basically have to shift your role from being dad, to your role being dad, teacher, caretaker, [physical education] instructor, nutritionist, because all meals are eaten at home…. But also kind of finding that sense of balance on how beautiful it was that the family was together for just about all three meals every single day,” one father based in New York was quoted as saying.
\nGiven these enhancing of fatherhood roles, the stereotypes of dads as mere providers and babysitters who hardly help in parenting and household chores are far from the reality.
\nJR Santiago, founder of the Dadvocacy Community on social media, has been showcasing Filipino fathers who are breaking such stereotypes.
\n“In doing this advocacy, I see that more dads are breaking the stereotypes and are stepping up to become more involved parents. In the years to come, I look forward to seeing more Pinoy dads not only change the fatherhood narrative but to also help change the world, one dad at a time,” he wrote in an article on the Smart Parenting website. \u2014 Adrian Paul B. Conoza
\n", "content_text": "The roles of a father have long been transformed and expanded from the traditional roles of a breadwinner and a disciplinarian in the family into a more diverse set of roles, which include being a caregiver and a mentor. Especially at this time when many parents have learned further to balance work and parenting duties within a single space, their homes, the stereotypes of what a father is and should be are much more refuted.\nIn fact, the profile of a father has changed through time, as the American Psychological Association (APA) noted. “He can be single or married; externally employed or stay-at home; gay or straight; an adoptive or step-parent; and a more than capable caregiver to children facing physical or psychological challenges,” the APA wrote on its website.\nAPA attributes such change to two factors, one of which is economic trends. “Two to three centuries ago, fathers\u2019 roles were primarily to serve as breadwinners and the conveyers of moral values and religious education to their children,” the association explained. “However, with the advent of industrialization and urbanization and as factories emerged as major sources of employment, fathers became distanced from the household and their families.”\nSuch circumstances are coupled, however, with the changing economic role of women as more of them get employed and their financial power has increased.\n“In tandem with the growing autonomy of women, related trends such as declining fertility, increasing rates of divorce and remarriage, and childbirth outside of marriage have resulted in a transition from traditional to multiple undefined roles for many fathers. Today\u2019s fathers have started to take on roles vastly different from fathers of previous generations,” APA observed.\nAlongside those economic trends, research on child development was observed to have increasingly focused on fathers in the last 20 to 30 years.\nAPA highlighted a study conducted by United States’ National Institute of Child Health and Human Development, which found that fathers tended to be more involved in caregiving when they worked fewer hours than other fathers; had positive psychological adjustment characteristics like high self-esteem and lower levels of depression and hostility; when mothers worked more hours than other mothers; when mothers reported greater marital intimacy; and when children were boys.\n“Other research on the role of fathers suggests that the influence of father love on children’s development is as great as the influence of a mother’s love. Fatherly love helps children develop a sense of their place in the world, which helps their social, emotional and cognitive development and functioning,” the association added.\nNotably, a study published in the International Journal of Scientific and Research Publications in 2018 delved into the role of Filipino fathers as caregivers. The study interviewed 16 Filipino fathers based in south-central Mindanao who served as the primary caretakers of their children while their wives were working outside the Philippines.\nThe authors noted from their analysis of the respondents’ interviews that in fulfilling their caregiving roles, these fathers are deeply involved in maintaining the hygiene of their children, as well as in preparing their meals, guiding them in their studies, and attending to them in their sickness \u2014 which the fathers considered as the most difficult part of their duty.\n“Fathers claimed they did everything for their children. This responsibility started the moment they woke up until they retired at night,” the authors wrote. “These responsibilities covered not only the concern on their children\u2019s activities of daily living like grooming, feeding, schooling and a lot more, but also the household tasks that were traditionally done by women in the Filipino culture.”\nThis diversity in fatherhood roles actually got more emphasis in the midst the coronavirus pandemic. As shared in a story published on the website of public broadcaster NPR, fathers have faced the challenge of striking a balance between work and family over the last two years.\nPhoto from our-team – freepik\n“You basically have to shift your role from being dad, to your role being dad, teacher, caretaker, [physical education] instructor, nutritionist, because all meals are eaten at home…. But also kind of finding that sense of balance on how beautiful it was that the family was together for just about all three meals every single day,” one father based in New York was quoted as saying.\nGiven these enhancing of fatherhood roles, the stereotypes of dads as mere providers and babysitters who hardly help in parenting and household chores are far from the reality.\nJR Santiago, founder of the Dadvocacy Community on social media, has been showcasing Filipino fathers who are breaking such stereotypes.\n“In doing this advocacy, I see that more dads are breaking the stereotypes and are stepping up to become more involved parents. In the years to come, I look forward to seeing more Pinoy dads not only change the fatherhood narrative but to also help change the world, one dad at a time,” he wrote in an article on the Smart Parenting website. \u2014 Adrian Paul B. Conoza", "date_published": "2022-06-27T09:13:08+08:00", "date_modified": "2022-06-27T14:36:55+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/06/SF_pexels-annushka-ahuja-8055801-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Dadvocacy Community", "father", "fatherhood", "Special Features" ] }, { "id": "/?p=454111", "url": "/special-features/2022/06/10/454111/heightened-interest-in-cryptocurrencies-globally-and-locally/", "title": "Heightened interest in cryptocurrencies, globally and locally", "content_html": "After more than 10 years since bitcoins were first transacted, the cryptocurrency market has been growing both globally, with Philippines actually considered one of the world\u2019s fastest adopters of cryptocurrency.
\nAs of 2021, Singapore-based cryptocurrency payments company Triple A estimated global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide, plus over 18,000 businesses already accepting cryptocurrency payments. Among continents, Asia gets the biggest share with 160 million, followed by Europe with 38 million and Africa with 32 million.
\nYear 2021 has even been considered a defining year for cryptocurrency, with all-time highs for the world\u2019s top two cryptocurrencies by market value and heightened popularity of non-fungible tokens (NFTs).
\nThe first quarter of 2021 witnessed bitcoin, the first and top cryptocurrency, hitting $1 trillion in market value, according to digital currency information platform Coindesk. Bitcoin reached its record high of $67,016.5 in October 2021. Ether, meanwhile, peaked its price to as high as $4,643 in November 2021. As of the same month, cryptocurrency data aggregator Coin Gecko estimates the cryptocurrency market\u2019s worth at over $3 trillion.
\nThe uptick in bitcoin\u2019s market value, CNBC.com reported in February that year, has been fueled in part by increased adoption of bitcoin by companies like automotive and clean energy company Tesla, which announced a $1.5 billion investment in bitcoin under its changed policy as well as its acceptance of the currency as payment for cars.
\nThe previous year also witnessed the increased attention over NFTs, or digital assets representing real-world objects like art, music, in-game items and videos which are bought and sold online, frequently with cryptocurrency. One notable proof of this hype was when Christie\u2019s was the first auction house to sell a fully digital, NFT-based artwork. The artwork, a digital collage, was sold for over $69.3 million, which is considered record-breaking for a sale of an NFT.
\nAlongside these developments, cryptocurrency is gaining more interest in the Philippines. Triple A estimates that over 4.3 million people, or 4.0% of Philippines\u2019 total population, currently own cryptocurrency.
\nAs 大象传媒 reported last December, the Bangko Sentral ng Pilipinas (BSP) recorded that cryptocurrency transactions in the Philippines rose 362% as of the first half of 2021. According to BSP Governor Benjamin E. Diokno, these transactions were worth P105.93 billion in June that year, which is up 71% over the same period.
\nThis rise follows a five-fold increase in the value of transactions processed by virtual currency exchanges (VCEs) to P76 billion in end-September 2020 from P14.9 billion in end-September 2019. The volume of transaction, meanwhile, went up by nearly 36% to 7.2 million from 5.3 million in 2019.
\nThe country has ranked well in cryptocurrency adoption indices. In the Cryptocurrency Adoption Index of Australian global fintech platform Finder, the Philippines currently ranks 10th out of 27 countries. The country\u2019s crypto ownership rate is at 16.6%, which is higher than the global average of 14.6%.
\nMoreover, the Philippines is also seen as a top adopter and owner of NFTs, largely attributable to play-to-earn (P2E) NFT games like Axie Infinity. Another survey by Finder showed that the country ranked first in NFT ownership out of 20 countries, with 32% of Filipino internet users saying that they own NFTs. In the platform\u2019s NFT Gaming Adoption Report, meanwhile, the Philippines ranks the 4th highest out of 26 countries, with one in four Filipinos having played P2E NFT games.
\nMeanwhile, in the Global Crypto Adoption Index by blockchain data analytics firm Chainalysis, the Philippines ranked 15th out of 157 countries. On a scale of 0 to 1, with a number closer to 1 indicating a higher rank and higher adoption, the country scored 0.16.
\nFurthermore, the country\u2019s cryptocurrency space has been expanding with the active participation of several local financial institutions and fintech companies.
\nAs early as 2019, for instance, UnionBank has done its share when it set up the country\u2019s first cryptocurrency automated teller machine that enables users to exchange digital units for cash. More recently, the Aboitiz-led lender has partnered with digital asset custodian Hex Trust to pilot its digital asset custody service. The pilot is set to run first as an internal service for UnionBank employees to prepare the bank to launch a fully commercialized service for customers.
\nDigital bank Paymaya Philippines, Inc., which recently relaunched its mobile app as Maya, has rolled out a cryptocurrency feature in its app which allows its users to buy and trade digital currencies, and so help make cryptocurrencies more accessible to the public.
\nGCash is also moving into the cryptocurrency space as the mobile wallet has allowed its users to buy crypto from their GCash wallets across VCEs such as Binance, Philippine Digital Asset Exchange (PDAX), and Paxful.
\nLast year, PDAX added seven new cryptocurrencies which for the first time are offered on a local exchange and available to trade directly with the Philippine peso. Then, earlier in February, the exchange added five more coins to its list, totaling the currencies available on its mobile app to 19.
\nAnother interesting development within the local cryptocurrency space is the possibility of the Philippine Stock Exhange (PSE) to host crypto trading. In July last year, PSE President Ramon S. Monzon said that since crypto is an asset class that cannot be ignored, a structured trading of crypto in the country should be hosted by the local bourse so that it can engage in investor education and protection.
\n\u201cWe\u2019re waiting for the rules from the Securities and Exchange Commission on how crypto or digital asset trading will be governed,\u201d Mr. Monzon, was quoted as saying in a 大象传媒 report. \u2014 Adrian Paul B. Conoza
\n", "content_text": "After more than 10 years since bitcoins were first transacted, the cryptocurrency market has been growing both globally, with Philippines actually considered one of the world\u2019s fastest adopters of cryptocurrency.\nAs of 2021, Singapore-based cryptocurrency payments company Triple A estimated global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide, plus over 18,000 businesses already accepting cryptocurrency payments. Among continents, Asia gets the biggest share with 160 million, followed by Europe with 38 million and Africa with 32 million.\nYear 2021 has even been considered a defining year for cryptocurrency, with all-time highs for the world\u2019s top two cryptocurrencies by market value and heightened popularity of non-fungible tokens (NFTs).\nThe first quarter of 2021 witnessed bitcoin, the first and top cryptocurrency, hitting $1 trillion in market value, according to digital currency information platform Coindesk. Bitcoin reached its record high of $67,016.5 in October 2021. Ether, meanwhile, peaked its price to as high as $4,643 in November 2021. As of the same month, cryptocurrency data aggregator Coin Gecko estimates the cryptocurrency market\u2019s worth at over $3 trillion.\nThe uptick in bitcoin\u2019s market value, CNBC.com reported in February that year, has been fueled in part by increased adoption of bitcoin by companies like automotive and clean energy company Tesla, which announced a $1.5 billion investment in bitcoin under its changed policy as well as its acceptance of the currency as payment for cars.\nThe previous year also witnessed the increased attention over NFTs, or digital assets representing real-world objects like art, music, in-game items and videos which are bought and sold online, frequently with cryptocurrency. One notable proof of this hype was when Christie\u2019s was the first auction house to sell a fully digital, NFT-based artwork. The artwork, a digital collage, was sold for over $69.3 million, which is considered record-breaking for a sale of an NFT.\nAlongside these developments, cryptocurrency is gaining more interest in the Philippines. Triple A estimates that over 4.3 million people, or 4.0% of Philippines\u2019 total population, currently own cryptocurrency.\nAs 大象传媒 reported last December, the Bangko Sentral ng Pilipinas (BSP) recorded that cryptocurrency transactions in the Philippines rose 362% as of the first half of 2021. According to BSP Governor Benjamin E. Diokno, these transactions were worth P105.93 billion in June that year, which is up 71% over the same period.\nThis rise follows a five-fold increase in the value of transactions processed by virtual currency exchanges (VCEs) to P76 billion in end-September 2020 from P14.9 billion in end-September 2019. The volume of transaction, meanwhile, went up by nearly 36% to 7.2 million from 5.3 million in 2019.\nThe country has ranked well in cryptocurrency adoption indices. In the Cryptocurrency Adoption Index of Australian global fintech platform Finder, the Philippines currently ranks 10th out of 27 countries. The country\u2019s crypto ownership rate is at 16.6%, which is higher than the global average of 14.6%. \nMoreover, the Philippines is also seen as a top adopter and owner of NFTs, largely attributable to play-to-earn (P2E) NFT games like Axie Infinity. Another survey by Finder showed that the country ranked first in NFT ownership out of 20 countries, with 32% of Filipino internet users saying that they own NFTs. In the platform\u2019s NFT Gaming Adoption Report, meanwhile, the Philippines ranks the 4th highest out of 26 countries, with one in four Filipinos having played P2E NFT games.\nMeanwhile, in the Global Crypto Adoption Index by blockchain data analytics firm Chainalysis, the Philippines ranked 15th out of 157 countries. On a scale of 0 to 1, with a number closer to 1 indicating a higher rank and higher adoption, the country scored 0.16.\nFurthermore, the country\u2019s cryptocurrency space has been expanding with the active participation of several local financial institutions and fintech companies.\nAs early as 2019, for instance, UnionBank has done its share when it set up the country\u2019s first cryptocurrency automated teller machine that enables users to exchange digital units for cash. More recently, the Aboitiz-led lender has partnered with digital asset custodian Hex Trust to pilot its digital asset custody service. The pilot is set to run first as an internal service for UnionBank employees to prepare the bank to launch a fully commercialized service for customers.\nDigital bank Paymaya Philippines, Inc., which recently relaunched its mobile app as Maya, has rolled out a cryptocurrency feature in its app which allows its users to buy and trade digital currencies, and so help make cryptocurrencies more accessible to the public.\nGCash is also moving into the cryptocurrency space as the mobile wallet has allowed its users to buy crypto from their GCash wallets across VCEs such as Binance, Philippine Digital Asset Exchange (PDAX), and Paxful.\nLast year, PDAX added seven new cryptocurrencies which for the first time are offered on a local exchange and available to trade directly with the Philippine peso. Then, earlier in February, the exchange added five more coins to its list, totaling the currencies available on its mobile app to 19.\nAnother interesting development within the local cryptocurrency space is the possibility of the Philippine Stock Exhange (PSE) to host crypto trading. In July last year, PSE President Ramon S. Monzon said that since crypto is an asset class that cannot be ignored, a structured trading of crypto in the country should be hosted by the local bourse so that it can engage in investor education and protection.\n\u201cWe\u2019re waiting for the rules from the Securities and Exchange Commission on how crypto or digital asset trading will be governed,\u201d Mr. Monzon, was quoted as saying in a 大象传媒 report. \u2014 Adrian Paul B. Conoza", "date_published": "2022-06-10T09:00:50+08:00", "date_modified": "2022-06-10T10:52:53+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/06/OL_MaIn.jpg", "tags": [ "Adrian Paul B. Conoza", "bitcoin", "cryptocurrency", "NFT", "non-fungible token", "Special Features" ] }, { "id": "/?p=450130", "url": "/special-features/2022/05/23/450130/esgs-emerging-influence-in-phl-business/", "title": "ESG\u2019s emerging influence in PHL business", "content_html": "The year 2021 was considered the \u201cyear of ESG (environmental, social, and corporate governance) investing.\u201d As Reuters reported last year, independent fund performance data firm Refinitiv Lipper\u2019s study revealed that a record $649 billion was poured into ESG-focused funds worldwide through Nov. 30, 2021, up from the $542 billion and $285 billion that flowed into those funds in 2020 and 2019, respectively. ESG funds account for 10% of worldwide fund assets, the report added.
\nSuch increased interest spurred by the ESG standard can also be seen recently in the Philippines, with the accelerated push for ESG reporting among companies and for sustainable finance initiatives in the financial ecosystem.
\nIn a brief published by SyCip, Salazar, Hernandez, & Gaitmaitan (SyCipLaw), the emergence of ESG investing in the country was traced back to as early as 2016 when the Securities and Exchange Commission (SEC) issued the Code of Corporate Governance for Publicly-Listed Companies (CG-PLC), which adopted an expansive view of corporate purpose, reinforced the idea of stakeholder governance, and introduced sustainability reporting in the governance framework of publicly-listed companies (PLCs).
\nNotably, the CG-PLC recommends that \u201cthe board of directors have a clear and focused policy on the disclosure of non-financial information, with emphasis on the management of economic, environmental, social and governance issues of its business which underpin sustainability.\u201d
\nA counterpart of CG-PLC for public companies was issued in 2019, containing the same concepts, principles, and recommendations on stakeholder governance and sustainability reporting as those in the CG-PLC.
\nFurthermore, in February 2019, SEC released Memorandum Circular No. 4, series of 2019, titled \u201cSustainability Reporting Guidelines for Publicly-Listed Companies,\u201d which specifies the procedure for sustainability reporting in the Philippines. With the issuance of these guidelines, PLCs are now required to submit a sustainability report as part of their annual report each year.
\n\u201cThe Sustainability Reporting Guidelines seek to, among others, help PLCs identify, evaluate and manage their material economic, environmental, and social risks and challenges, and measure and monitor their contribution towards achieving universal targets of sustainability, such as the United Nations Sustainable Development Goals (UN SDGs), and national policies and programs,\u201d SyCip Law\u2019s brief noted.
\nOne year after SEC\u2019s guidelines on ESG reporting were enforced, SyCip Gorres Velayo & Co. (SGV & Co.) reviewed how PLCs responded to SEC\u2019s requirement to publish sustainability reports.
\nThe firm\u2019s study, titled \u201cBeyond the Bottom Line: Sustainability Reporting in the Philippines,\u201d found that 64% out of the 73 PLCs that submitted sustainability reports for the financial year ending December 31, 2019 used the reporting template provided by the SEC to ensure compliance on the first year. Of these PLCs, 40% released stand-alone sustainability reports, while 30% disclosed sustainability information as part of their annual reports.
\nThe study also found that 77% of the sustainability disclosures were focused on UN SDGs, while 45 PLCs used the SDGs to inform about their sustainability strategy, materiality assessment process and/or material sustainability issues.
\nDiscussing these findings, Benjamin N. Villacorte, a partner at SGV & Co., and Yna Altea D. Antipala, a senior associate of the firm\u2019s Climate Change and Sustainability Services team, observed that while the first year of ESG reporting focused more on compliance, such efforts still met the objective of creating awareness and inclusion of sustainability on the board and management agenda.
\n\u201cIn addition, PLCs can improve their reporting on topics such as waste management to address pressing global concerns; resource management, specifically of materials and water, since unhampered consumption is not sustainable; and the protection and rehabilitation of biodiversity and ecosystems affected by operations to minimize negative environmental impact,\u201d Mr. Villacorte and Ms. Antipala wrote in a 大象传媒 column last year.
\nThey also noted that PLCs can further improve on addressing social issues, \u201cparticularly privacy and data security, after the pandemic rapidly shifted professional communications into the digital space.\u201d
\nAlso, the Anti-Corruption & Governance Center of the Center for International Private Enterprise (CIPE) stated that the SEC\u2019s initiatives in \u201cestablishing a market-wide culture of sustainability\u201d by mandating ESG disclosures is \u201cadmirably forward-looking.\u201d
\n\u201cThey have not only helped the Philippines prepare for impending ESG requirements in the EU and US; they have also helped them adapt quickly to growing due diligence demands in global supply chains,\u201d\u00a0 CIPE wrote on its website.
\nESG standards have also begun influencing sustainable financing, starting from as early as 2018 and 2019, when the SEC promulgated guidelines on the issuance in the Philippines of green, social and sustainability bonds under the ASEAN Green Bond Standards, the ASEAN Social Bond Standards, and the ASEAN Sustainability Bond Standards.
\nThen, in 2020, the Bangko Sentral ng Pilipinas issued Circular No. 1085, more known as the Sustainable Finance Framework, which requires banks to embed sustainability principles, including those covering environmental and social risk areas, in their corporate governance framework, risk management systems, and strategic objectives consistent with their size, risk profile, and complexity of operations. After the launch of this framework, banks such as BDO Unibank, Inc. and Rizal Commercial Banking Corp. started offering sustainability bonds.
\nMore recently, in February of this year, the SEC, along with the ASEAN Capital Markets Forum, is planning to develop Sustainable and Responsible Fund Standards (SRFS), which aim \u201cto provide disclosure and reporting requirements that can be consistently applied by fund managers\u201d in the jurisdiction of the Association of Southeast Asian Nations.
\nAs 大象传媒 reported the same month, the ASEAN SRFS would make investment funds provide disclosures on ESG initiatives, sustainable and responsible investment objectives, and sustainability investment strategies. The standards to be developed will also require disclosure of the processes in place to ensure ESG compliance. \u2014 Adrian Paul B. Conoza
\n", "content_text": "The year 2021 was considered the \u201cyear of ESG (environmental, social, and corporate governance) investing.\u201d As Reuters reported last year, independent fund performance data firm Refinitiv Lipper\u2019s study revealed that a record $649 billion was poured into ESG-focused funds worldwide through Nov. 30, 2021, up from the $542 billion and $285 billion that flowed into those funds in 2020 and 2019, respectively. ESG funds account for 10% of worldwide fund assets, the report added.\nSuch increased interest spurred by the ESG standard can also be seen recently in the Philippines, with the accelerated push for ESG reporting among companies and for sustainable finance initiatives in the financial ecosystem.\nIn a brief published by SyCip, Salazar, Hernandez, & Gaitmaitan (SyCipLaw), the emergence of ESG investing in the country was traced back to as early as 2016 when the Securities and Exchange Commission (SEC) issued the Code of Corporate Governance for Publicly-Listed Companies (CG-PLC), which adopted an expansive view of corporate purpose, reinforced the idea of stakeholder governance, and introduced sustainability reporting in the governance framework of publicly-listed companies (PLCs).\nNotably, the CG-PLC recommends that \u201cthe board of directors have a clear and focused policy on the disclosure of non-financial information, with emphasis on the management of economic, environmental, social and governance issues of its business which underpin sustainability.\u201d\nA counterpart of CG-PLC for public companies was issued in 2019, containing the same concepts, principles, and recommendations on stakeholder governance and sustainability reporting as those in the CG-PLC.\nFurthermore, in February 2019, SEC released Memorandum Circular No. 4, series of 2019, titled \u201cSustainability Reporting Guidelines for Publicly-Listed Companies,\u201d which specifies the procedure for sustainability reporting in the Philippines. With the issuance of these guidelines, PLCs are now required to submit a sustainability report as part of their annual report each year.\n\u201cThe Sustainability Reporting Guidelines seek to, among others, help PLCs identify, evaluate and manage their material economic, environmental, and social risks and challenges, and measure and monitor their contribution towards achieving universal targets of sustainability, such as the United Nations Sustainable Development Goals (UN SDGs), and national policies and programs,\u201d SyCip Law\u2019s brief noted.\nOne year after SEC\u2019s guidelines on ESG reporting were enforced, SyCip Gorres Velayo & Co. (SGV & Co.) reviewed how PLCs responded to SEC\u2019s requirement to publish sustainability reports.\nThe firm\u2019s study, titled \u201cBeyond the Bottom Line: Sustainability Reporting in the Philippines,\u201d found that 64% out of the 73 PLCs that submitted sustainability reports for the financial year ending December 31, 2019 used the reporting template provided by the SEC to ensure compliance on the first year. Of these PLCs, 40% released stand-alone sustainability reports, while 30% disclosed sustainability information as part of their annual reports.\nThe study also found that 77% of the sustainability disclosures were focused on UN SDGs, while 45 PLCs used the SDGs to inform about their sustainability strategy, materiality assessment process and/or material sustainability issues.\nDiscussing these findings, Benjamin N. Villacorte, a partner at SGV & Co., and Yna Altea D. Antipala, a senior associate of the firm\u2019s Climate Change and Sustainability Services team, observed that while the first year of ESG reporting focused more on compliance, such efforts still met the objective of creating awareness and inclusion of sustainability on the board and management agenda.\n\u201cIn addition, PLCs can improve their reporting on topics such as waste management to address pressing global concerns; resource management, specifically of materials and water, since unhampered consumption is not sustainable; and the protection and rehabilitation of biodiversity and ecosystems affected by operations to minimize negative environmental impact,\u201d Mr. Villacorte and Ms. Antipala wrote in a 大象传媒 column last year.\nThey also noted that PLCs can further improve on addressing social issues, \u201cparticularly privacy and data security, after the pandemic rapidly shifted professional communications into the digital space.\u201d\nAlso, the Anti-Corruption & Governance Center of the Center for International Private Enterprise (CIPE) stated that the SEC\u2019s initiatives in \u201cestablishing a market-wide culture of sustainability\u201d by mandating ESG disclosures is \u201cadmirably forward-looking.\u201d\n\u201cThey have not only helped the Philippines prepare for impending ESG requirements in the EU and US; they have also helped them adapt quickly to growing due diligence demands in global supply chains,\u201d\u00a0 CIPE wrote on its website.\nESG standards have also begun influencing sustainable financing, starting from as early as 2018 and 2019, when the SEC promulgated guidelines on the issuance in the Philippines of green, social and sustainability bonds under the ASEAN Green Bond Standards, the ASEAN Social Bond Standards, and the ASEAN Sustainability Bond Standards.\nThen, in 2020, the Bangko Sentral ng Pilipinas issued Circular No. 1085, more known as the Sustainable Finance Framework, which requires banks to embed sustainability principles, including those covering environmental and social risk areas, in their corporate governance framework, risk management systems, and strategic objectives consistent with their size, risk profile, and complexity of operations. After the launch of this framework, banks such as BDO Unibank, Inc. and Rizal Commercial Banking Corp. started offering sustainability bonds.\nMore recently, in February of this year, the SEC, along with the ASEAN Capital Markets Forum, is planning to develop Sustainable and Responsible Fund Standards (SRFS), which aim \u201cto provide disclosure and reporting requirements that can be consistently applied by fund managers\u201d in the jurisdiction of the Association of Southeast Asian Nations.\nAs 大象传媒 reported the same month, the ASEAN SRFS would make investment funds provide disclosures on ESG initiatives, sustainable and responsible investment objectives, and sustainability investment strategies. The standards to be developed will also require disclosure of the processes in place to ensure ESG compliance. \u2014 Adrian Paul B. Conoza", "date_published": "2022-05-23T09:15:28+08:00", "date_modified": "2022-05-23T14:18:33+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/05/SF_ESG-main-photo-freepik-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "ESG", "Special Features" ] }, { "id": "/?p=448597", "url": "/special-features/2022/05/16/448597/collaboration-redefines-corporate-social-responsibility/", "title": "Collaboration redefines corporate social responsibility", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nOne of the many things that has gone widespread in the past years since the coronavirus disease 2019 (COVID-19) pandemic brought our then normal ways of life and work to a pause are collaborations. This was seen among companies within their respective industries as they dealt with their respective disruptions and, much more, between the private and public sectors in responding to the pandemic.
\nThe latter was very much noticed in efforts to expand COVID-19 testing in the country; and, as representatives from the Asian Development Bank and ThinkWell Philippines noted, there is much to learn from it.
\n“The very nature of both public and private sectors allows for a more synergistic response as they bring to bear their respective strengths and adapt these to the context of the greater challenges and needs confronted by our country, such as the COVID-19 pandemic,” the authors wrote in a piece published on the website of Health Systems Governance Collaborative back in 2020.
\nThis is also apparently a lesson companies are beginning to further appreciate as they push forth their corporate social responsibility (CSR) programs in the new normal.
\nFor one foundation, the public-private model serves as the guidepost that drives its current CSR efforts and aligns them with what their partners in the public sector require.
\n“The collaboration between the public and private sectors is an integral partnership that sees both sides addressing what the other may not be able to. It is a co-beneficial collaboration that allows the private sector to alleviate some of the weight carried by the government, all for the upliftment of the lives of the Filipino people,” Melody M. Del Rosario, president of Metro Pacific Investments Foundation (MPIF), told 大象传媒 in an e-mail.
\nThe CSR arm of the Metro Pacific Investments Corp., MPIF aims to address the socioeconomic issues of unemployment by creating livelihood opportunities for locals; access to quality education, by supporting scholars from underprivileged families; access to quality healthcare by mobilizing medical missions for coastal community folk; and access to nutrition and food security by distributing at-home planting kits and fresh vegetables to vulnerable communities.
\n“MPIF\u2019s corporate social responsibility is not only confined to helping in times of need. Beyond relief and response, we have invested our efforts into long-term commitments with our partner communities \u2014 to inspire a movement that prioritizes positive and sustained impact in the long run,” Ms. Del Rosario, who also is MPIC’s vice-president for public relations and corporate communication, added.
\nThe MPIF president shared how they apply public-private collaboration in their programs. “Across our main guiding pillars of social infrastructure, particularly for environment and economic empowerment, it is part of our program process to engage in meaningful discourse with our partner local government units to determine what initiatives will best benefit their communities in the long run, as well as which sectors of the community will best benefit from them. The public sector is involved throughout the implementation of our efforts from beginning to end,” she shared.
\nMPIF, nonetheless, has been an active collaborator with fellow companies within the Manuel V. Pangilinan (MVP) Group of Companies through Tulong Kapatid, the corporate social responsibility alliance of foundations and companies within the MVP group.
\nWith sister companies and foundations such as One Meralco Foundation, PLDT-Smart Foundation, Makati Medical Center Foundation, Alagang Kapatid Foundation Inc., and Maynilad, Ms. Del Rosario shared, MPIF has determined its CSR pivot to be the champion of coastal and underwater protection and conservation in the group.
\n“Aligned with this is the empowerment of coastal communities, primarily with the provision of employment opportunities for the benefit of locals. The other companies focus on addressing other areas of social development,” the MPIF president continued.
\nHaving witnessed these dynamics of collaboration adding further meaning to MPIF’s CSR initiatives, Ms. Del Rosario noted that CSR has been redefined from corporate social responsibility to collaborative social response.
\n“Rooted in the idea that no single company, organization, or government unit can take on this responsibility alone, it is imperative that we create, develop, and continue to foster meaningful partnerships that will benefit our country and our fellow Filipinos the most. Every ripple of intention and initiative that each sector makes can result in a greater wave of purpose and passion that will create a better and brighter future for everyone,” the MPIF president shared.
\nMoving forward from the pandemic, Ms. Del Rosario expects MPIF to continue addressing the same societal issues of unemployment, while nonetheless aiming to help more communities and organizations through their “tried-and-tested processes.”
\n“The public-private partnership will remain as our guidepost in developing our efforts and ensuring their long-term sustainability,” she stressed. “Guided by our mutual purpose of reaching out to change and uplift the lives of Filipinos, the collaboration with the public sector is at the heart of the legacy projects that we create and leave behind for our countrymen.”
\n", "content_text": "By Adrian Paul B. Conoza, Special Features Assistant Editor\nOne of the many things that has gone widespread in the past years since the coronavirus disease 2019 (COVID-19) pandemic brought our then normal ways of life and work to a pause are collaborations. This was seen among companies within their respective industries as they dealt with their respective disruptions and, much more, between the private and public sectors in responding to the pandemic.\nThe latter was very much noticed in efforts to expand COVID-19 testing in the country; and, as representatives from the Asian Development Bank and ThinkWell Philippines noted, there is much to learn from it.\n“The very nature of both public and private sectors allows for a more synergistic response as they bring to bear their respective strengths and adapt these to the context of the greater challenges and needs confronted by our country, such as the COVID-19 pandemic,” the authors wrote in a piece published on the website of Health Systems Governance Collaborative back in 2020.\nThis is also apparently a lesson companies are beginning to further appreciate as they push forth their corporate social responsibility (CSR) programs in the new normal.\nFor one foundation, the public-private model serves as the guidepost that drives its current CSR efforts and aligns them with what their partners in the public sector require.\n“The collaboration between the public and private sectors is an integral partnership that sees both sides addressing what the other may not be able to. It is a co-beneficial collaboration that allows the private sector to alleviate some of the weight carried by the government, all for the upliftment of the lives of the Filipino people,” Melody M. Del Rosario, president of Metro Pacific Investments Foundation (MPIF), told 大象传媒 in an e-mail. \nThe CSR arm of the Metro Pacific Investments Corp., MPIF aims to address the socioeconomic issues of unemployment by creating livelihood opportunities for locals; access to quality education, by supporting scholars from underprivileged families; access to quality healthcare by mobilizing medical missions for coastal community folk; and access to nutrition and food security by distributing at-home planting kits and fresh vegetables to vulnerable communities.\n“MPIF\u2019s corporate social responsibility is not only confined to helping in times of need. Beyond relief and response, we have invested our efforts into long-term commitments with our partner communities \u2014 to inspire a movement that prioritizes positive and sustained impact in the long run,” Ms. Del Rosario, who also is MPIC’s vice-president for public relations and corporate communication, added.\nThe MPIF president shared how they apply public-private collaboration in their programs. “Across our main guiding pillars of social infrastructure, particularly for environment and economic empowerment, it is part of our program process to engage in meaningful discourse with our partner local government units to determine what initiatives will best benefit their communities in the long run, as well as which sectors of the community will best benefit from them. The public sector is involved throughout the implementation of our efforts from beginning to end,” she shared.\nMPIF, nonetheless, has been an active collaborator with fellow companies within the Manuel V. Pangilinan (MVP) Group of Companies through Tulong Kapatid, the corporate social responsibility alliance of foundations and companies within the MVP group. \nWith sister companies and foundations such as One Meralco Foundation, PLDT-Smart Foundation, Makati Medical Center Foundation, Alagang Kapatid Foundation Inc., and Maynilad, Ms. Del Rosario shared, MPIF has determined its CSR pivot to be the champion of coastal and underwater protection and conservation in the group. \n“Aligned with this is the empowerment of coastal communities, primarily with the provision of employment opportunities for the benefit of locals. The other companies focus on addressing other areas of social development,” the MPIF president continued.\nHaving witnessed these dynamics of collaboration adding further meaning to MPIF’s CSR initiatives, Ms. Del Rosario noted that CSR has been redefined from corporate social responsibility to collaborative social response.\n“Rooted in the idea that no single company, organization, or government unit can take on this responsibility alone, it is imperative that we create, develop, and continue to foster meaningful partnerships that will benefit our country and our fellow Filipinos the most. Every ripple of intention and initiative that each sector makes can result in a greater wave of purpose and passion that will create a better and brighter future for everyone,” the MPIF president shared.\nMoving forward from the pandemic, Ms. Del Rosario expects MPIF to continue addressing the same societal issues of unemployment, while nonetheless aiming to help more communities and organizations through their “tried-and-tested processes.” \n“The public-private partnership will remain as our guidepost in developing our efforts and ensuring their long-term sustainability,” she stressed. “Guided by our mutual purpose of reaching out to change and uplift the lives of Filipinos, the collaboration with the public sector is at the heart of the legacy projects that we create and leave behind for our countrymen.”", "date_published": "2022-05-16T09:00:01+08:00", "date_modified": "2022-05-16T10:34:45+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/05/SF_hands-holding-earth-csr-business-campaign-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Special Features" ] }, { "id": "/?p=444877", "url": "/special-features/2022/04/27/444877/visayas-express-link-to-economic-growth/", "title": "Visayas\u2019 express link to economic growth", "content_html": "After three years, Cebu has a new road that is expected to make the province more connected as well as help boost its economic activity as the Cebu-Cordova Link Expressway (CCLEX), the first toll expressway in the Visayas region, ceremonially opens today, April 27.
\nThe 8.9-kilometer (km) toll bridge, which costs P33 billion to build, links mainland Cebu in Cebu City to Mactan Island through the coastal municipality of Cordova. Estimated to benefit 50,000 vehicles daily, the expressway is seen to ease the traffic on the existing Marcelo Fernan Bridge and the Mandaue-Mactan Bridge.
\nCCLEX has two lanes in each direction and also features the main navigation span twin-pylon cable-stayed bridge, viaduct approach bridges on Cebu City and Cordova sides, Cebu South Coastal Road on- and off-ramps, a causeway, and a toll plaza.
\nFurther highlighting the expressway are eight 40-meter crosses on top of the pylons, designed to symbolize Cebu\u2019s significant role as the cradle of Catholic devotion. The crosses were lit up in April 15 last year, in time with the celebration of the 500th anniversary of Christianity in the country.
\nThe bridge has a design speed of 60 to 80 kilometers per hour, and a 52-meter height or navigational clearance to allow large vessels to pass underneath. It can also withstand up to magnitude 10 earthquake and is vessel-collision proof.
\nA major construction milestone that closes the gap between Cebu City and Cordova is CCLEX\u2019s main bridge, which was completed last Oct. 5. The main bridge, spanning almost 2.8 k.m., consists of the main bridge structure (653 m), the Cebu South Coastal Road on- and off-ramps (779 m), the Cebu Viaduct (432.80 m), and the Cordova Viaduct (917.30 m). Its two main bridge towers, meanwhile, are 145 m tall.
\nCCLEX\u2019s main bridge is fitted with several state-of-the art equipment, such as a Road Weather Information System that provides weather watches and warning for public safety; stay cable accelerometers to monitor stay cable movements; GPS geometric controls at the two towers; and expansion joint movement sensors.
\n\u201cWe have finally reached the epic milestone of the CCLEX construction project, which truly lives up to the expressed view of builders and development leaders that CCLEX is truly an \u2018engineering marvel,\u201d MPTC President and CEO Rodrigo E. Franco said in a statement last year. \u201cIt gives me and my corporate and government colleagues a deep sense of pride and accomplishment for this region and the entire country,\u201d he said.
\nCCLEX\u2019s other features include 56 installed stay cables, a 200-meter pedestrian footbridge, as well as four low-level bridges for fishermen and 20 vent pipes for water channel equalization at the Cordova side.
\nThe CCLEX will be using a full electronic toll collection system, powered by radio-frequency identification (RFID), for more efficient lane throughput. RFID installation has been ongoing as early as December last year.
\nOther features that ensure safe and convenient travel for motorists include weigh-in-motion sensors for detecting overloaded vehicles and IP-based speed detection cameras and high-definition closed-circuit television systems for traffic monitoring and incident detection.
\nThe expressway will also have service facilities such as gasoline stations, retail outlets, convenience stores, restaurants, as well as security, medical, and maintenance centers that will address the needs of every motorist who passes through the toll road.
\n![\"\"](\"/wp-content/uploads/2022/04/SF_S1-2021-10-29-Ceremonial-Walk-20-scaled-OL-300x200.jpg\")
The Cebu Cordova Link Expressway Corp. (CCLEC), a subsidiary of Metro Pacific Tollways Corp. (MPTC), built, operates, and maintains CCLEX under a joint venture agreement with the local governments of Cebu City and Cordova. This makes the expressway MPTC\u2019s first expressway project outside Luzon.
\nCCLEC has selected a multi-disciplined technical team for the project. Back in November 2017, CCLEC issued the notice of award for the \u201cBuild and Design\u201d contract of CCLEX to Cebu Link Joint Venture (CLJV), a consortium of Spain-based infrastructure leader Acciona Construccion S.A. and Filipino companies First Balfour, Inc. and D. M. Consunji, Inc. The contract was signed the following December.
\nCCLEC also engaged the services of COWI A/S of Denmark with the Philippines\u2019 DCCD Engineering Corp., as its sub-consultant, to be the project\u2019s technical advisor/owner\u2019s engineer. Norconsult, a Norwegian consultancy firm, was also tapped as the project\u2019s independent consultant.
\nCCLEC secured a P19-billion syndicated loan facility to bankroll the project. In February 2019, CCLEC inked a 15-year omnibus loan and security agreement with the Rizal Commercial Banking Corp., Development Bank of the Philippines, Robinsons Bank Corp., Union Bank of the Philippines, Bank of the Philippine Islands, and Security Bank Corp. The remaining funding requirements for the project are shouldered by the project company.
\nNew path for development, investment boost
\nAside from beefing up the road network of Cebu, CCLEX is eyed to spur economic growth and boost investments not just in Cebu City and Cordova, but also in the entire Cebu province and Visayas region. During the main bridge deck connection ceremony last October, Felix Taguiam, immediate past president of the Cebu Chamber of Commerce and Industry, noted that the bridge is set to open up the region to new developments.
\n\u201cWith Cebu City and Cordova connected, we will see the enhancement of trade, tourism, and business. Communities on each side of the border will then know one another better and be able to help one another grow and prosper through trade and development,\u201d Mr. Taguiam said.
\nFor Cordova Mayor Mary Therese Sitoy-Cho, the expressway has the potential to boost the current municipality and transform it into a city in the near future. \u201cLinking Cordova to the highly urbanized Cebu City brings the inevitable economic development to our small, dynamic town. It has been my father\u2019s dream for Cordova to become a city and I believe that with this bridge, this is bound to happen in the next few years,\u201d Ms. Sitoy-Cho said.
\nIn addition to easing up the mobility of people and goods within Cebu\u2019s traffic-congested metropolis, CCLEX also aims to improve access to the redeveloped Mactan-Cebu International Airport, as well as provide a faster connection from Mactan Island to mainland Cebu for business travelers and tourists alike.
\nThe expressway is also seen to be sustaining investor interest in Cebu, which is one of the country\u2019s various economic hubs outside Luzon and is the second-most populous province in the country next to Metro Manila.
\nNotably, more investments within Cebu have been pouring in from the country\u2019s largest corporations. Ayala Corp. and SM Prime Holdings, Inc., for instance, have joined forces for the establishment of a 16,000-seater convention center in South Road Properties. Ayala Group\u2019s property arm Ayala Land Inc., meanwhile, also introduced a prime commercial project called District Square that will be located within the seaside South Coast City on Cebu City\u2019s South Coastal Road.
\nAlso, the Gokongwei Group, which traces its roots to Cebu, puts up a gaming business in Cebu with the NUSTAR Resort and Casino. Developed by Universal Hotels and Resorts Inc., NUSTAR is located at Kawit Point at South Road Properties in Cebu City. Considered first and biggest of its kind outside Metro Manila, it will have a gaming facility with a gross floor area of 21,000 square meters, numerous spaces for luxury retail and dining, a convention center that can accommodate 2,000 participants, plus three hotel towers with over 1,000 rooms. In addition, Robinsons Land Corp. has several office and residential developments in Cebu. \u2014 Adrian Paul B. Conoza
\n", "content_text": "After three years, Cebu has a new road that is expected to make the province more connected as well as help boost its economic activity as the Cebu-Cordova Link Expressway (CCLEX), the first toll expressway in the Visayas region, ceremonially opens today, April 27.\nThe 8.9-kilometer (km) toll bridge, which costs P33 billion to build, links mainland Cebu in Cebu City to Mactan Island through the coastal municipality of Cordova. Estimated to benefit 50,000 vehicles daily, the expressway is seen to ease the traffic on the existing Marcelo Fernan Bridge and the Mandaue-Mactan Bridge.\nCCLEX has two lanes in each direction and also features the main navigation span twin-pylon cable-stayed bridge, viaduct approach bridges on Cebu City and Cordova sides, Cebu South Coastal Road on- and off-ramps, a causeway, and a toll plaza.\nFurther highlighting the expressway are eight 40-meter crosses on top of the pylons, designed to symbolize Cebu\u2019s significant role as the cradle of Catholic devotion. The crosses were lit up in April 15 last year, in time with the celebration of the 500th anniversary of Christianity in the country.\nThe bridge has a design speed of 60 to 80 kilometers per hour, and a 52-meter height or navigational clearance to allow large vessels to pass underneath. It can also withstand up to magnitude 10 earthquake and is vessel-collision proof.\nA major construction milestone that closes the gap between Cebu City and Cordova is CCLEX\u2019s main bridge, which was completed last Oct. 5. The main bridge, spanning almost 2.8 k.m., consists of the main bridge structure (653 m), the Cebu South Coastal Road on- and off-ramps (779 m), the Cebu Viaduct (432.80 m), and the Cordova Viaduct (917.30 m). Its two main bridge towers, meanwhile, are 145 m tall.\nCCLEX\u2019s main bridge is fitted with several state-of-the art equipment, such as a Road Weather Information System that provides weather watches and warning for public safety; stay cable accelerometers to monitor stay cable movements; GPS geometric controls at the two towers; and expansion joint movement sensors.\n\u201cWe have finally reached the epic milestone of the CCLEX construction project, which truly lives up to the expressed view of builders and development leaders that CCLEX is truly an \u2018engineering marvel,\u201d MPTC President and CEO Rodrigo E. Franco said in a statement last year. \u201cIt gives me and my corporate and government colleagues a deep sense of pride and accomplishment for this region and the entire country,\u201d he said. \nCCLEX\u2019s other features include 56 installed stay cables, a 200-meter pedestrian footbridge, as well as four low-level bridges for fishermen and 20 vent pipes for water channel equalization at the Cordova side.\nThe CCLEX will be using a full electronic toll collection system, powered by radio-frequency identification (RFID), for more efficient lane throughput. RFID installation has been ongoing as early as December last year.\nOther features that ensure safe and convenient travel for motorists include weigh-in-motion sensors for detecting overloaded vehicles and IP-based speed detection cameras and high-definition closed-circuit television systems for traffic monitoring and incident detection.\nThe expressway will also have service facilities such as gasoline stations, retail outlets, convenience stores, restaurants, as well as security, medical, and maintenance centers that will address the needs of every motorist who passes through the toll road.\nMetro Pacific Tollways Corp. (MPTC) Chairman Manuel \u201cManny\u201d V. Pangilinan delivers a speech during an event marking the main bridge deck connection of the Cebu-Cordova Link Expressway in November 2021.\nThe Cebu Cordova Link Expressway Corp. (CCLEC), a subsidiary of Metro Pacific Tollways Corp. (MPTC), built, operates, and maintains CCLEX under a joint venture agreement with the local governments of Cebu City and Cordova. This makes the expressway MPTC\u2019s first expressway project outside Luzon.\nCCLEC has selected a multi-disciplined technical team for the project. Back in November 2017, CCLEC issued the notice of award for the \u201cBuild and Design\u201d contract of CCLEX to Cebu Link Joint Venture (CLJV), a consortium of Spain-based infrastructure leader Acciona Construccion S.A. and Filipino companies First Balfour, Inc. and D. M. Consunji, Inc. The contract was signed the following December.\nCCLEC also engaged the services of COWI A/S of Denmark with the Philippines\u2019 DCCD Engineering Corp., as its sub-consultant, to be the project\u2019s technical advisor/owner\u2019s engineer. Norconsult, a Norwegian consultancy firm, was also tapped as the project\u2019s independent consultant.\nCCLEC secured a P19-billion syndicated loan facility to bankroll the project. In February 2019, CCLEC inked a 15-year omnibus loan and security agreement with the Rizal Commercial Banking Corp., Development Bank of the Philippines, Robinsons Bank Corp., Union Bank of the Philippines, Bank of the Philippine Islands, and Security Bank Corp. The remaining funding requirements for the project are shouldered by the project company.\nNew path for development, investment boost \nAside from beefing up the road network of Cebu, CCLEX is eyed to spur economic growth and boost investments not just in Cebu City and Cordova, but also in the entire Cebu province and Visayas region. During the main bridge deck connection ceremony last October, Felix Taguiam, immediate past president of the Cebu Chamber of Commerce and Industry, noted that the bridge is set to open up the region to new developments.\n\u201cWith Cebu City and Cordova connected, we will see the enhancement of trade, tourism, and business. Communities on each side of the border will then know one another better and be able to help one another grow and prosper through trade and development,\u201d Mr. Taguiam said.\nFor Cordova Mayor Mary Therese Sitoy-Cho, the expressway has the potential to boost the current municipality and transform it into a city in the near future. \u201cLinking Cordova to the highly urbanized Cebu City brings the inevitable economic development to our small, dynamic town. It has been my father\u2019s dream for Cordova to become a city and I believe that with this bridge, this is bound to happen in the next few years,\u201d Ms. Sitoy-Cho said.\nIn addition to easing up the mobility of people and goods within Cebu\u2019s traffic-congested metropolis, CCLEX also aims to improve access to the redeveloped Mactan-Cebu International Airport, as well as provide a faster connection from Mactan Island to mainland Cebu for business travelers and tourists alike.\nThe expressway is also seen to be sustaining investor interest in Cebu, which is one of the country\u2019s various economic hubs outside Luzon and is the second-most populous province in the country next to Metro Manila.\nNotably, more investments within Cebu have been pouring in from the country\u2019s largest corporations. Ayala Corp. and SM Prime Holdings, Inc., for instance, have joined forces for the establishment of a 16,000-seater convention center in South Road Properties. Ayala Group\u2019s property arm Ayala Land Inc., meanwhile, also introduced a prime commercial project called District Square that will be located within the seaside South Coast City on Cebu City\u2019s South Coastal Road.\nAlso, the Gokongwei Group, which traces its roots to Cebu, puts up a gaming business in Cebu with the NUSTAR Resort and Casino. Developed by Universal Hotels and Resorts Inc., NUSTAR is located at Kawit Point at South Road Properties in Cebu City. Considered first and biggest of its kind outside Metro Manila, it will have a gaming facility with a gross floor area of 21,000 square meters, numerous spaces for luxury retail and dining, a convention center that can accommodate 2,000 participants, plus three hotel towers with over 1,000 rooms. In addition, Robinsons Land Corp. has several office and residential developments in Cebu. \u2014 Adrian Paul B. Conoza", "date_published": "2022-04-27T09:00:17+08:00", "date_modified": "2022-04-27T14:19:03+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/04/SF_DJI_0396-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "CCLEx", "Cebu-Cordova Link Expressway", "toll bridge", "toll expressway", "Special Features" ] }, { "id": "/?p=439951", "url": "/special-features/2022/04/04/439951/philippines-progress-in-fighting-financial-crimes/", "title": "Philippines\u2019 progress in fighting financial crimes", "content_html": "To keep the integrity of financial institutions and the economy in general, activities that lead to the diversion of resources away from economically- and socially-productive uses must be prevented from thriving. Fighting and preventing these activities, particularly money laundering and the financing of terrorism, have been regarded as essential in keeping economies stable.
\nWith global institutions like the Financial Action Task Force (FATF) taking the lead in these areas, the Philippines has likewise been active in anti-money laundering and combating the financing of terrorism (AML/CFT), although the FATF\u2019s latest evaluation reveals that much more needs to be achieved.
\nIn the Philippines, the Anti-Money Laundering Act (AMLA) of 2001 serves as the framework by which efforts AML/CFT efforts are pushed. In efforts to improve its the country\u2019s AML/CFT drive, the AMLA was amended several times, the latest of which was signed by President Rodrigo R. Duterte in January 2021. The Anti-Money Laundering Council (AMLC), the country\u2019s financial intelligence unit (FIU), is tasked to implement AMLA, along with the \u201cTerrorism Financing Prevention and Suppression Act of 2012.\u201d
\nRepublic\u00a0 Act\u00a0 No. 11521, which is said to further strengthen AMLA, gives additional powers to the AMLC, namely: applying before a competent court for a search and seizure warrant and a subpoena; preserving, managing or disposing of assets pursuant to a freeze order, preservation order or judgment of forfeiture; and implementing targeted financial sanctions against the proliferation of weapons of mass destruction and its financing. The amendment also expands the list of covered persons, which now includes real estate developers and brokers and Philippine offshore gaming operators (POGOs) and their service providers.
\nFor over two decades now, AMLC has been steadfast in pushing AML/CFT in the Philippines. Its current chairman, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, recalled the council\u2019s recent initiatives last year at an annual AML/CFT summit.
\n\u201cThe AMLC is closely coordinating with law enforcers, such as the National Bureau of Investigation and the Philippine National Police, as they are the primary investigators for predicate crimes. For the first eight months of 2021, the AMLC has filed a total of 85 cases, varying from civil and criminal cases and involving over P1.31 billion and other assets,\u201d Mr. Diokno started sharing in a message during the summit.
\nThe BSP governor also noted the continued progress in the National Anti-Money Laundering and Countering the Financing of Terrorism Strategy (NACS) for 2018 to 2022, which is aimed at coordinating efforts of relevant agencies in AML/CTF.
\n\u201cThe NACS has also integrated the International Co-Operation Review Group (ICRG) Action Plan to ensure a whole-of-nation approach in addressing our country\u2019s shortcomings in its AML/CTF system,\u201d he added.
\nAMLC, Mr. Diokno continued, is sharing its risk assessments, strategic studies, and typologies with law enforcement agencies and covered persons to increase awareness of money laundering and terrorism financing typologies and red flags.
\nFATF, in a statement last month, recognized the country\u2019s progress in AML/CTF. \u201cSince June 2021, when the Philippines made a high-level political commitment to work with the FATF and APG (Asia/Pacific Group on Money Laundering) to strengthen the effectiveness of its AML/CFT regime, the Philippines has taken steps towards improving its AML/CFT regime, including by increasing the resources of its FIU and utilizing its targeted financial sanction framework for terrorism financing, ahead of any relevant deadlines expiring,\u201d the global financial crime watchdog said on its website.
\nAdditionally, AMLC Executive Director Mel Georgie B. Racela said in a recent 大象传媒 report that more financial intelligence analysts, investigators, and lawyers were hired to boost the operational capabilities of their units on compliance as well as litigation and evaluation. \u201cRelevant Philippine authorities continue to work together in strengthening the country\u2019s AML/CFT measures and in showing progress toward effectiveness,\u201d Mr. Racela added.
\nIn spite of these efforts, however, the Philippines is yet to get out of FATF\u2019s \u201cgray list\u201d of jurisdictions subjected to increased monitoring for \u201cdirty money\u201d risks.
\nIn the same statement, FATF calls for the Philippines to keep working on implementing its action plan by demonstrating that effective risk-based supervision of designated non-financial business and professions is occurring, as well as that supervisors are using AML/CFT controls to mitigate risks associated with casino junkets.
\nAmong several organizations actively collaborating in combatting financial crimes, the Philippine Amusement and Gaming Corp. (PAGCOR) is expected to play an important role in mitigating risks associated with casino junkets.
\nAside from creating the PAGCOR Anti-Money Laundering Supervision and Enforcement Department (PASED), PAGCOR signed a memorandum of agreement with AMLC in 2020, enjoining both parties to cooperate in the area of capacity building to enhance both of their capabilities in addressing AML/CTF issues and concerns. Last January, PAGCOR was recognized by AMLC for its invaluable contribution AML/CFT efforts.
\nFurthermore, FATF also seeks progress on how the Philippines implements new registration requirements for money or value transfer services and applies sanctions to unregistered and illegal remittance operators, as well as on how it implements measures with respect to non-profit organizations without disrupting their legitimate activities.
\nThe watchdog also sees the need to ensure that beneficial ownership information is accurate and up-to-date and that its access is streamlined for law enforcement agencies.
\nMoreover, the task force said it will keep checking for increases in the use of financial intelligence; in money laundering investigations and prosecutions; and in the identification, investigation, and prosecution of terrorism financing cases. It will also monitor for enhancements in the effectiveness of the country\u2019s targeted financial sanctions framework for both terrorism financing and proliferation financing. \u2014 Adrian Paul B. Conoza
\n", "content_text": "To keep the integrity of financial institutions and the economy in general, activities that lead to the diversion of resources away from economically- and socially-productive uses must be prevented from thriving. Fighting and preventing these activities, particularly money laundering and the financing of terrorism, have been regarded as essential in keeping economies stable.\nWith global institutions like the Financial Action Task Force (FATF) taking the lead in these areas, the Philippines has likewise been active in anti-money laundering and combating the financing of terrorism (AML/CFT), although the FATF\u2019s latest evaluation reveals that much more needs to be achieved.\nIn the Philippines, the Anti-Money Laundering Act (AMLA) of 2001 serves as the framework by which efforts AML/CFT efforts are pushed. In efforts to improve its the country\u2019s AML/CFT drive, the AMLA was amended several times, the latest of which was signed by President Rodrigo R. Duterte in January 2021. The Anti-Money Laundering Council (AMLC), the country\u2019s financial intelligence unit (FIU), is tasked to implement AMLA, along with the \u201cTerrorism Financing Prevention and Suppression Act of 2012.\u201d\nRepublic\u00a0 Act\u00a0 No. 11521, which is said to further strengthen AMLA, gives additional powers to the AMLC, namely: applying before a competent court for a search and seizure warrant and a subpoena; preserving, managing or disposing of assets pursuant to a freeze order, preservation order or judgment of forfeiture; and implementing targeted financial sanctions against the proliferation of weapons of mass destruction and its financing. The amendment also expands the list of covered persons, which now includes real estate developers and brokers and Philippine offshore gaming operators (POGOs) and their service providers.\nFor over two decades now, AMLC has been steadfast in pushing AML/CFT in the Philippines. Its current chairman, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, recalled the council\u2019s recent initiatives last year at an annual AML/CFT summit. \n\u201cThe AMLC is closely coordinating with law enforcers, such as the National Bureau of Investigation and the Philippine National Police, as they are the primary investigators for predicate crimes. For the first eight months of 2021, the AMLC has filed a total of 85 cases, varying from civil and criminal cases and involving over P1.31 billion and other assets,\u201d Mr. Diokno started sharing in a message during the summit.\nThe BSP governor also noted the continued progress in the National Anti-Money Laundering and Countering the Financing of Terrorism Strategy (NACS) for 2018 to 2022, which is aimed at coordinating efforts of relevant agencies in AML/CTF. \n\u201cThe NACS has also integrated the International Co-Operation Review Group (ICRG) Action Plan to ensure a whole-of-nation approach in addressing our country\u2019s shortcomings in its AML/CTF system,\u201d he added.\nAMLC, Mr. Diokno continued, is sharing its risk assessments, strategic studies, and typologies with law enforcement agencies and covered persons to increase awareness of money laundering and terrorism financing typologies and red flags.\nFATF, in a statement last month, recognized the country\u2019s progress in AML/CTF. \u201cSince June 2021, when the Philippines made a high-level political commitment to work with the FATF and APG (Asia/Pacific Group on Money Laundering) to strengthen the effectiveness of its AML/CFT regime, the Philippines has taken steps towards improving its AML/CFT regime, including by increasing the resources of its FIU and utilizing its targeted financial sanction framework for terrorism financing, ahead of any relevant deadlines expiring,\u201d the global financial crime watchdog said on its website.\nAdditionally, AMLC Executive Director Mel Georgie B. Racela said in a recent 大象传媒 report that more financial intelligence analysts, investigators, and lawyers were hired to boost the operational capabilities of their units on compliance as well as litigation and evaluation. \u201cRelevant Philippine authorities continue to work together in strengthening the country\u2019s AML/CFT measures and in showing progress toward effectiveness,\u201d Mr. Racela added.\nIn spite of these efforts, however, the Philippines is yet to get out of FATF\u2019s \u201cgray list\u201d of jurisdictions subjected to increased monitoring for \u201cdirty money\u201d risks. \nIn the same statement, FATF calls for the Philippines to keep working on implementing its action plan by demonstrating that effective risk-based supervision of designated non-financial business and professions is occurring, as well as that supervisors are using AML/CFT controls to mitigate risks associated with casino junkets.\nAmong several organizations actively collaborating in combatting financial crimes, the Philippine Amusement and Gaming Corp. (PAGCOR) is expected to play an important role in mitigating risks associated with casino junkets. \nAside from creating the PAGCOR Anti-Money Laundering Supervision and Enforcement Department (PASED), PAGCOR signed a memorandum of agreement with AMLC in 2020, enjoining both parties to cooperate in the area of capacity building to enhance both of their capabilities in addressing AML/CTF issues and concerns. Last January, PAGCOR was recognized by AMLC for its invaluable contribution AML/CFT efforts.\nFurthermore, FATF also seeks progress on how the Philippines implements new registration requirements for money or value transfer services and applies sanctions to unregistered and illegal remittance operators, as well as on how it implements measures with respect to non-profit organizations without disrupting their legitimate activities.\nThe watchdog also sees the need to ensure that beneficial ownership information is accurate and up-to-date and that its access is streamlined for law enforcement agencies.\nMoreover, the task force said it will keep checking for increases in the use of financial intelligence; in money laundering investigations and prosecutions; and in the identification, investigation, and prosecution of terrorism financing cases. It will also monitor for enhancements in the effectiveness of the country\u2019s targeted financial sanctions framework for both terrorism financing and proliferation financing. \u2014 Adrian Paul B. Conoza", "date_published": "2022-04-04T09:15:57+08:00", "date_modified": "2022-04-04T13:53:45+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/04/SF_Money-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "financial crimes", "money laundering", "Special Features" ] }, { "id": "/?p=439008", "url": "/special-features/2022/03/30/439008/building-the-countrys-foremost-tmt-law-firm-and-beyond/", "title": "Building the country\u2019s foremost TMT law firm and beyond", "content_html": "By Adrian Paul B. Conoza, Special Features Assistant Editor
\nIt usually takes decades to build a legacy in the Philippine legal industry \u2014 an industry that heavily depends on long-term client relationships, consistent exemplary services rendered, and leading expertise in the multitude of legal fields. And yet, defying odds, within seven years from its inception, Gorriceta Africa Cauton & Saavedra (Gorriceta) already propelled itself as among the top-tier full-service law firms in the country, moreso claiming undisputed leadership in a hotly contested field of law \u2014 Technology, Media, and Telecommunications (TMT).
\nWhen Gorriceta started in 2015, it heavily focused on Corporate, Capital Markets, Mergers & Acquisitions, Taxation, Intellectual Property, and Litigation Law, which Gorriceta\u2019s managing partner, Atty. Mark S. Gorriceta, noted are relatively traditional practice areas for any Manila-based law firm.
\n\u201cThis has allowed the firm to build its initial set of clients and foster a culture of excellence amongst its founding team of lawyers,\u201d Mr. Gorriceta told 大象传媒 in an e-mail.
\nLater on, Gorriceta expanded to Anti-Trust and Competition, Project Development and Finance, Labor and Employment, Real Estate, Infrastructure and Special Projects, Immigration, Data Privacy & Cybersecurity, Banking and Financial Services, and of course, TMT Law.
\nKey to its fast-paced growth is its relentless and driven team of legal professionals which, as Atty. Gorriceta described, \u201con average, are young, tech-savvy, and agile in adopting and spearheading legal developments to meet innovations in the market\u201d as led by its current nine partners, three junior partners, and seven counsels.
\nGorriceta\u2019s remarkable growth is easily validated by its numerous recognitions by reputable legal ranking institutions here and abroad.
\nLeading its trophy cabinet is its three-year reign (2019, 2020, & 2021) as the top TMT Law Firm in the Philippines recognized by Asia Business Law Journal in its annual Philippines Law Firm Awards. Gorriceta has also been awarded for three consecutive years (2019, 2020 & 2021) as the TMT Law Firm of the Year by Asian Legal Business, a Thomson Reuters company.
\nSince 2017, when it won as Rising Law Firm of the Year, Gorriceta has steadily increased its nominations and wins in the Philippine Law Awards, bagging Innovative Law Firm of the Year (2019 and 2021), Construction and Real Estate Law Firm of the Year (2020), Data Privacy and Protection Law Firm of the Year (2021), Philippine Deal Firm of the Year (2021), and Equity Market Deal Firm of the Year (Midsize) (2021), among others.
\nAtty. Gorriceta was also awarded as Managing Partner of the Year in 2020 and Dealmaker of the Year in 2021 in the Philippine Law Awards. The Legal 500 also names Gorriceta as among its recommended Philippine firms in the Capital Markets, Mergers & Acquisitions, TMT, Intellectual Property, Dispute Resolution, and Labor and Employment.
\nWith TMT as its current legal centerpiece, Atty. Gorriceta\u2019s open secret is the firm\u2019s \u201cheavy investment and expansion in TMT projects, by engaging both stakeholders: from regulators, to startups, to the general public in developing TMT as an instrument of public good.\u201d
\n\u201cWe have built strong links with the TMT and FinTech space \u2014 whether globally or locally, private or governmental \u2014 in order to have firsthand knowledge of the new technologies that could be brought into or developed within the Philippine market,\u201d Mr. Gorriceta explained. \u201cIn turn, [as we open ourselves to] discovering and/or familiarizing ourselves with such new technologies, we bridge regulators and private stakeholders into applicable Philippine laws and regulations that allow for the creation of entities or structures that can roll out these new products and services.\u201d
\nThis has been a winning formula, with heavyweights in the Philippine TMT space adorning its roster of clients, such as: UnionBank, UBX, Coins.PH, GCash, Kumu, Shopee, ShopeePay, Robinsons Group, Filinvest Group, Multisys Technologies, Angkas, and Foodpanda. It also holds an expansive list of up-and-coming startups and organizations that rely on the firm for Philippine legal and regulatory advice in the TMT/fintech space.
\nAs part of its professional responsibility, Atty. Gorriceta continued, the firm also assists legislators and government regulators in developing and upgrading existing laws and regulations to meet the demand for innovative products and services that are potentially of great benefit to the public \u2014 such as the open finance ecosystem, the rise of blockchain-based technologies, and many others, thus acting as a key mediator at the crossroads of innovation and regulation.
\n\u201cWe have assisted traditional business clients in developing a tech and/or fintech arm to bridge their products and services into the growing digital economy. We have also facilitated several Securities and Exchange Commission (SEC) and Bangko Sentral ng Pilipinas (BSP) license applications that have enabled the expansion of much-needed financial services in the country, which in turn, propelled more business growth for our clients,\u201d Atty. Gorriceta said.
\nBeyond its leadership in the TMT space, Gorriceta has also solidified its track record in equity market deals and closed notable mergers and acquisitions that continue to change the business landscape in the country. Its all-around legal services have also been heavily tried and tested during the pandemic, emerging triumphantly when the firm saw \u201can exponential increase in legal services rendered.\u201d
\nYet, with such an expansive reach and steady leadership, Gorriceta remains hungry for new opportunities.
\n\u201cThe firm is now looking to expand to energy law in order to assist the energy sector and the country with the ever-pressing demands for energy regulation, project development for renewable and non-renewable energy, electric generation and transmission, and various other environmental law concerns,\u201d Atty. Gorriceta said. To realize this, it has further boosted the number of its legal professionals and invested heavily on further legal training and development, particularly in this new journey towards Energy Law.
\nWhile Gorriceta acknowledges that its legacy in the Philippine legal industry remains young and suspect to an unfathomable set of future challenges, it remains optimistic that these challenges can be met by a culture of perseverance, dedication to legal excellence, and a penchant for finding and developing the right lawyers that are driven to make a mark for themselves.
\n", "content_text": "Gorriceta Africa Cauton & Saavedra (Gorriceta)\nBy Adrian Paul B. Conoza, Special Features Assistant Editor\nIt usually takes decades to build a legacy in the Philippine legal industry \u2014 an industry that heavily depends on long-term client relationships, consistent exemplary services rendered, and leading expertise in the multitude of legal fields. And yet, defying odds, within seven years from its inception, Gorriceta Africa Cauton & Saavedra (Gorriceta) already propelled itself as among the top-tier full-service law firms in the country, moreso claiming undisputed leadership in a hotly contested field of law \u2014 Technology, Media, and Telecommunications (TMT).\nWhen Gorriceta started in 2015, it heavily focused on Corporate, Capital Markets, Mergers & Acquisitions, Taxation, Intellectual Property, and Litigation Law, which Gorriceta\u2019s managing partner, Atty. Mark S. Gorriceta, noted are relatively traditional practice areas for any Manila-based law firm.\n\u201cThis has allowed the firm to build its initial set of clients and foster a culture of excellence amongst its founding team of lawyers,\u201d Mr. Gorriceta told 大象传媒 in an e-mail.\nLater on, Gorriceta expanded to Anti-Trust and Competition, Project Development and Finance, Labor and Employment, Real Estate, Infrastructure and Special Projects, Immigration, Data Privacy & Cybersecurity, Banking and Financial Services, and of course, TMT Law.\nKey to its fast-paced growth is its relentless and driven team of legal professionals which, as Atty. Gorriceta described, \u201con average, are young, tech-savvy, and agile in adopting and spearheading legal developments to meet innovations in the market\u201d as led by its current nine partners, three junior partners, and seven counsels.\nGorriceta\u2019s remarkable growth is easily validated by its numerous recognitions by reputable legal ranking institutions here and abroad.\nLeading its trophy cabinet is its three-year reign (2019, 2020, & 2021) as the top TMT Law Firm in the Philippines recognized by Asia Business Law Journal in its annual Philippines Law Firm Awards. Gorriceta has also been awarded for three consecutive years (2019, 2020 & 2021) as the TMT Law Firm of the Year by Asian Legal Business, a Thomson Reuters company.\nSince 2017, when it won as Rising Law Firm of the Year, Gorriceta has steadily increased its nominations and wins in the Philippine Law Awards, bagging Innovative Law Firm of the Year (2019 and 2021), Construction and Real Estate Law Firm of the Year (2020), Data Privacy and Protection Law Firm of the Year (2021), Philippine Deal Firm of the Year (2021), and Equity Market Deal Firm of the Year (Midsize) (2021), among others.\nAtty. Gorriceta was also awarded as Managing Partner of the Year in 2020 and Dealmaker of the Year in 2021 in the Philippine Law Awards. The Legal 500 also names Gorriceta as among its recommended Philippine firms in the Capital Markets, Mergers & Acquisitions, TMT, Intellectual Property, Dispute Resolution, and Labor and Employment.\nWith TMT as its current legal centerpiece, Atty. Gorriceta\u2019s open secret is the firm\u2019s \u201cheavy investment and expansion in TMT projects, by engaging both stakeholders: from regulators, to startups, to the general public in developing TMT as an instrument of public good.\u201d\n\u201cWe have built strong links with the TMT and FinTech space \u2014 whether globally or locally, private or governmental \u2014 in order to have firsthand knowledge of the new technologies that could be brought into or developed within the Philippine market,\u201d Mr. Gorriceta explained. \u201cIn turn, [as we open ourselves to] discovering and/or familiarizing ourselves with such new technologies, we bridge regulators and private stakeholders into applicable Philippine laws and regulations that allow for the creation of entities or structures that can roll out these new products and services.\u201d\nThis has been a winning formula, with heavyweights in the Philippine TMT space adorning its roster of clients, such as: UnionBank, UBX, Coins.PH, GCash, Kumu, Shopee, ShopeePay, Robinsons Group, Filinvest Group, Multisys Technologies, Angkas, and Foodpanda. It also holds an expansive list of up-and-coming startups and organizations that rely on the firm for Philippine legal and regulatory advice in the TMT/fintech space.\nAs part of its professional responsibility, Atty. Gorriceta continued, the firm also assists legislators and government regulators in developing and upgrading existing laws and regulations to meet the demand for innovative products and services that are potentially of great benefit to the public \u2014 such as the open finance ecosystem, the rise of blockchain-based technologies, and many others, thus acting as a key mediator at the crossroads of innovation and regulation.\n\u201cWe have assisted traditional business clients in developing a tech and/or fintech arm to bridge their products and services into the growing digital economy. We have also facilitated several Securities and Exchange Commission (SEC) and Bangko Sentral ng Pilipinas (BSP) license applications that have enabled the expansion of much-needed financial services in the country, which in turn, propelled more business growth for our clients,\u201d Atty. Gorriceta said.\nBeyond its leadership in the TMT space, Gorriceta has also solidified its track record in equity market deals and closed notable mergers and acquisitions that continue to change the business landscape in the country. Its all-around legal services have also been heavily tried and tested during the pandemic, emerging triumphantly when the firm saw \u201can exponential increase in legal services rendered.\u201d\nYet, with such an expansive reach and steady leadership, Gorriceta remains hungry for new opportunities.\n\u201cThe firm is now looking to expand to energy law in order to assist the energy sector and the country with the ever-pressing demands for energy regulation, project development for renewable and non-renewable energy, electric generation and transmission, and various other environmental law concerns,\u201d Atty. Gorriceta said. To realize this, it has further boosted the number of its legal professionals and invested heavily on further legal training and development, particularly in this new journey towards Energy Law.\nWhile Gorriceta acknowledges that its legacy in the Philippine legal industry remains young and suspect to an unfathomable set of future challenges, it remains optimistic that these challenges can be met by a culture of perseverance, dedication to legal excellence, and a penchant for finding and developing the right lawyers that are driven to make a mark for themselves.", "date_published": "2022-03-30T09:10:30+08:00", "date_modified": "2022-03-30T09:05:22+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Gorriceta-5-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Atty. Mark S. Gorriceta", "Gorriceta", "Gorriceta Africa Cauton & Saavedra", "law firms", "legal industry", "Special Features" ] }, { "id": "/?p=438744", "url": "/special-features/2022/03/25/438744/expanding-and-evolving-living-concepts/", "title": "Expanding and evolving living concepts", "content_html": "Properties have often been classified from low-rise to high-rise and from economic to luxury. Another way of classifying is whether they are horizontal or vertical developments, which have also defined the way of living of residents.
\nHorizontal is often associated with individual spaces like houses and apartments sprawled outside metropolitan areas, while vertical often refers to condominiums and shared spaces that usually fill urban spots.
\nSuch descriptions have been reflected in the recent \u201cHotspots Unwrapped\u201d reports of online real estate marketplace Lamudi. Back in 2020, the figures \u2014 based on the website’s pageviews \u2014 show that demand for houses was higher than that of condominiums and even apartments.
\nWith houses earning the most number of pageviews and leads in provincial cities, Lamudi hinted that \u201cthe market has gained greater appreciation for living spaces that offer bigger rooms, which will accommodate work-from-home and distance learning arrangements, or outdoor areas that provide safe recreational opportunities.\u201d
\nIn the metro, meanwhile, houses and condos remain the most popular choices. \u201cIn Quezon City, units in horizontal developments represent 29.25% of the leads. In Makati, condos dominate with 34.90% of the leads,\u201d Lamudi’s report further detailed.
\nA more recent edition of its \u201cHotspots Unwrapped,\u201d which listed the cities around the country to watch this year, observed a sustained trend in demand for horizontal developments.
\n\u201cResidential properties such as houses flexed a large share of leads out of all property types, a trend common to most of the aforementioned cities. This is consistent with 2020 trends, which saw an increase in demand for horizontal developments,\u201d the report stressed.
\nAmong the cities, San Juan City was recognized for its \u201cblend of both horizontal and vertical residential developments as well as its varied retail offerings,\u201d which Lamudi noted \u201chave made the city an attractive residential destination for families.\u201d
\n![\"\"](\"/wp-content/uploads/2022/03/SF_house-OL-300x152.jpg\")
Lamudi also observed that in Pasay City, new vertical developments such as condominiums and office towers are continuing to crop up. \u201cThe city continues to be an attractive investment destination especially for employees of firms and government offices in the area as well as those who frequently fly for work,\u201d the report read.
Recently, however, the concepts of horizontal and vertical development have apparently evolved as the perks and advantages of both types have been bundled into new offerings.
\nTake horizontal multifamily, for example. A popular trend in the United States, horizontal multifamily can be described as a type of property that brings to residents the privacy of single-family homes (often a horizontal development attribute), while still reaping the benefits of multifamily amenities and on-site property management (something likely picked up from vertical developments like condos).
\n\u201cHorizontal multifamily lets renters have the best of both worlds: an apartment where maintenance is taken care of as well as privacy and potentially a backyard,\u201d real estate writer Deidre Woollard wrote in The Motley Fool-owned Millionacres website.
\nThere has also been an emerging preference for \u201chorizontal condominiums.\u201d This type of condominium, according to Architect John Ian Lee Fulgar in an online article, brings the lifestyles that mark high-rise condominiums into typical Filipino houses similar to regular house-and-lots, rowhouses, or even townhouses. In terms of location, this type is often found near beaches or vacation spots. Kasa Luntian in Tagaytay City and Vista de Loro in Batangas are cited as examples of horizontal condominiums.
\nThe concept of \u201cvertical village\u201d has also been on arising, as shown in the launch of a Camella Manors project in Davao. As 大象传媒 reported last year, Camella Manors Operations Head Marlon B. Escalicas said the development is positioned as \u201cvertical villages\u201d as \u201cas these combine the conveniences of condominium living within a community in a prime location with commercial establishments, public transport access, and medical facilities, among others.\u201d
\nFrom \u2018pancakes\u2019 to \u2018pyramids\u2019
\nNo matter how horizontal and vertical developments have evolved, both are seen to be taking the shape of cities in the future.
\nA World Bank (WB) report published last year, based on satellite data analysis for almost 10,000 cities, analyzed the link between a city\u2019s economic growth and the floor space available to residents and businesses.
\n![\"\"](\"/wp-content/uploads/2022/03/SF_apartment-6572403-OL-200x300.jpg\")
\u201cIt finds that a city is most likely to be its best version when its shape is driven by economic fundamentals and a conducive policy environment \u2014 namely, a robust job market, flexible building regulations, dependable public transit and access to essential services, public spaces, and cultural amenities,\u201d WB said in a statement.
The report noted three margins along which cities are projected to grow, depending on the aforementioned fundamentals. These three are horizontal spread, where cities extend beyond their previously built-up area; vertical layering, where cities raise the skyline of the existing built-up area; and infill development, where cities close gaps between existing structures.
\nLow-income cities tend to spread horizontally, looking like what the report termed as \u201cpancakes,\u201d as newcomers crowd into low-built quarters or settle on the outskirts where land is cheaper. Cities with higher incomes and productivity, meanwhile, are found to be taking the shape of \u201cpyramids,\u201d as they experience horizontal spread, infill development, and vertical layering altogether.
\n\u201cA rising demand for floor space in economically productive cities… combined with a related rise in housing investment and consumption, leads developers to fill vacant or underused land at and within the city edge with new structures,\u201d the report explained. \u201cThese pockets of close-in land become dense with office and residential space… Structures are built taller on average, and at the urban core, they are built much taller, forming sharply peaked skylines.\u201d \u2014 Adrian Paul B. Conoza
\n", "content_text": "Properties have often been classified from low-rise to high-rise and from economic to luxury. Another way of classifying is whether they are horizontal or vertical developments, which have also defined the way of living of residents.\nHorizontal is often associated with individual spaces like houses and apartments sprawled outside metropolitan areas, while vertical often refers to condominiums and shared spaces that usually fill urban spots.\nSuch descriptions have been reflected in the recent \u201cHotspots Unwrapped\u201d reports of online real estate marketplace Lamudi. Back in 2020, the figures \u2014 based on the website’s pageviews \u2014 show that demand for houses was higher than that of condominiums and even apartments.\nWith houses earning the most number of pageviews and leads in provincial cities, Lamudi hinted that \u201cthe market has gained greater appreciation for living spaces that offer bigger rooms, which will accommodate work-from-home and distance learning arrangements, or outdoor areas that provide safe recreational opportunities.\u201d\nIn the metro, meanwhile, houses and condos remain the most popular choices. \u201cIn Quezon City, units in horizontal developments represent 29.25% of the leads. In Makati, condos dominate with 34.90% of the leads,\u201d Lamudi’s report further detailed.\nA more recent edition of its \u201cHotspots Unwrapped,\u201d which listed the cities around the country to watch this year, observed a sustained trend in demand for horizontal developments.\n\u201cResidential properties such as houses flexed a large share of leads out of all property types, a trend common to most of the aforementioned cities. This is consistent with 2020 trends, which saw an increase in demand for horizontal developments,\u201d the report stressed.\nAmong the cities, San Juan City was recognized for its \u201cblend of both horizontal and vertical residential developments as well as its varied retail offerings,\u201d which Lamudi noted \u201chave made the city an attractive residential destination for families.\u201d\nLamudi also observed that in Pasay City, new vertical developments such as condominiums and office towers are continuing to crop up. \u201cThe city continues to be an attractive investment destination especially for employees of firms and government offices in the area as well as those who frequently fly for work,\u201d the report read.\nRecently, however, the concepts of horizontal and vertical development have apparently evolved as the perks and advantages of both types have been bundled into new offerings.\nTake horizontal multifamily, for example. A popular trend in the United States, horizontal multifamily can be described as a type of property that brings to residents the privacy of single-family homes (often a horizontal development attribute), while still reaping the benefits of multifamily amenities and on-site property management (something likely picked up from vertical developments like condos).\n\u201cHorizontal multifamily lets renters have the best of both worlds: an apartment where maintenance is taken care of as well as privacy and potentially a backyard,\u201d real estate writer Deidre Woollard wrote in The Motley Fool-owned Millionacres website.\nThere has also been an emerging preference for \u201chorizontal condominiums.\u201d This type of condominium, according to Architect John Ian Lee Fulgar in an online article, brings the lifestyles that mark high-rise condominiums into typical Filipino houses similar to regular house-and-lots, rowhouses, or even townhouses. In terms of location, this type is often found near beaches or vacation spots. Kasa Luntian in Tagaytay City and Vista de Loro in Batangas are cited as examples of horizontal condominiums.\nThe concept of \u201cvertical village\u201d has also been on arising, as shown in the launch of a Camella Manors project in Davao. As 大象传媒 reported last year, Camella Manors Operations Head Marlon B. Escalicas said the development is positioned as \u201cvertical villages\u201d as \u201cas these combine the conveniences of condominium living within a community in a prime location with commercial establishments, public transport access, and medical facilities, among others.\u201d\nFrom \u2018pancakes\u2019 to \u2018pyramids\u2019\nNo matter how horizontal and vertical developments have evolved, both are seen to be taking the shape of cities in the future.\nA World Bank (WB) report published last year, based on satellite data analysis for almost 10,000 cities, analyzed the link between a city\u2019s economic growth and the floor space available to residents and businesses.\n\u201cIt finds that a city is most likely to be its best version when its shape is driven by economic fundamentals and a conducive policy environment \u2014 namely, a robust job market, flexible building regulations, dependable public transit and access to essential services, public spaces, and cultural amenities,\u201d WB said in a statement.\nThe report noted three margins along which cities are projected to grow, depending on the aforementioned fundamentals. These three are horizontal spread, where cities extend beyond their previously built-up area; vertical layering, where cities raise the skyline of the existing built-up area; and infill development, where cities close gaps between existing structures.\nLow-income cities tend to spread horizontally, looking like what the report termed as \u201cpancakes,\u201d as newcomers crowd into low-built quarters or settle on the outskirts where land is cheaper. Cities with higher incomes and productivity, meanwhile, are found to be taking the shape of \u201cpyramids,\u201d as they experience horizontal spread, infill development, and vertical layering altogether.\n\u201cA rising demand for floor space in economically productive cities… combined with a related rise in housing investment and consumption, leads developers to fill vacant or underused land at and within the city edge with new structures,\u201d the report explained. \u201cThese pockets of close-in land become dense with office and residential space… Structures are built taller on average, and at the urban core, they are built much taller, forming sharply peaked skylines.\u201d \u2014 Adrian Paul B. Conoza", "date_published": "2022-03-25T09:00:36+08:00", "date_modified": "2022-03-29T09:54:59+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/SF_condominium-6377942-OL.jpg", "tags": [ "Adrian Paul B. Conoza", "Horizontal Living Spaces", "properties", "Vertical Living Spaces", "Special Features" ] } ] }![\"\"](\"/wp-content/uploads/2022/08/bw35-e1660124016995.jpg\")
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